"During a gold rush, sell shovels" - What are some other examples of this?
"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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During/after natural disaster, buy cheap land. Probably works during an economic crash too.
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Protests & Riots happening? Invest in glass companies
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Cloudy & rainy every day? Sell coffee (looking at you PNW)
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War happening? Just sell bombs! (see USA) This one is particular good cause you can always start another war. It's just smart business!
7 4 ReplyThat's all just regular supply and demand. Doesn't fit the saying.
6 1 ReplyGold Rush = high demand = invest in (aka buy) shovels
Same thing, no?
3 2 ReplyNo.
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.
3 1 Reply
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