"During a gold rush, sell shovels" - What are some other examples of this?
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
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Pretty sure none of you have any idea what this saying means.
Enlighten us, then.
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.
Edit: because I know someone is gonna try this
That's not an opinion or an interpretation. That's the meaning of the phrase. It's not this amorphous ambiguous thing where all interpretations are valid. It has a specific meaning.
... None of us were confused by the saying. You obviously are confused about where you stand cognitively, in comparison.