neidu2@feddit.nl to Ask Lemmy@lemmy.world · 2 months ago"During a gold rush, sell shovels" - What are some other examples of this?message-squaremessage-square58fedilinkarrow-up11arrow-down10file-text
arrow-up11arrow-down1message-square"During a gold rush, sell shovels" - What are some other examples of this?neidu2@feddit.nl to Ask Lemmy@lemmy.world · 2 months agomessage-square58fedilinkfile-text
A couple of others I can think of: Crypto-boom of 2016ish: GPUs/mining rigs LLM/AI hype nowish: User generated data 90’s dotcom bubble: Server space
minus-squarekozy138@lemm.eelinkfedilinkarrow-up0·2 months ago During/after natural disaster, buy cheap land. Probably works during an economic crash too. Protests & Riots happening? Invest in glass companies Cloudy & rainy every day? Sell coffee (looking at you PNW) War happening? Just sell bombs! (see USA) This one is particular good cause you can always start another war. It’s just smart business!
minus-squareCryophilia@lemmy.worldlinkfedilinkarrow-up0·2 months agoThat’s all just regular supply and demand. Doesn’t fit the saying.
minus-squarekozy138@lemm.eelinkfedilinkarrow-up0·2 months agoGold Rush = high demand = invest in (aka buy) shovels Same thing, no?
minus-squareCryophilia@lemmy.worldlinkfedilinkarrow-up0·edit-22 months agoNo. Gold rush = a bunch of fools getting hyped up on the latest thing thinking they’ll get rich, but almost none of them will. Selling shovels = not chasing the latest hype, but making money off the fools who chase the latest hype. I’m not offering an opinion or interpretation of the phrase btw, that’s the actual definition.
During/after natural disaster, buy cheap land. Probably works during an economic crash too.
Protests & Riots happening? Invest in glass companies
Cloudy & rainy every day? Sell coffee (looking at you PNW)
War happening? Just sell bombs! (see USA) This one is particular good cause you can always start another war. It’s just smart business!
That’s all just regular supply and demand. Doesn’t fit the saying.
Gold Rush = high demand = invest in (aka buy) shovels
Same thing, no?
No.
Gold rush = a bunch of fools getting hyped up on the latest thing thinking they’ll get rich, but almost none of them will.
Selling shovels = not chasing the latest hype, but making money off the fools who chase the latest hype.
I’m not offering an opinion or interpretation of the phrase btw, that’s the actual definition.