neidu2 to Ask Lemmy@lemmy.world · 21 days ago"During a gold rush, sell shovels" - What are some other examples of this?message-squaremessage-square62fedilinkarrow-up187arrow-down15file-text
arrow-up182arrow-down1message-square"During a gold rush, sell shovels" - What are some other examples of this?neidu2 to Ask Lemmy@lemmy.world · 21 days agomessage-square62fedilinkfile-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-squareCryophilia@lemmy.worldlinkfedilinkarrow-up4·20 days agoYeah but that’s not what selling shovels means. A gold rush is a bunch of fools chasing the latest hype. Like AI or the dot com boom or NFTs. Selling shovels is when you don’t buy into the hype, but you make money off of the fools who buy into hype. You’re just talking about standard economics.
minus-squarebionicjoey@lemmy.calinkfedilinkarrow-up1·20 days agoWhen COVID hit, there was an explosion in demand for delivery services.
minus-squareCryophilia@lemmy.worldlinkfedilinkarrow-up3·20 days agoYeah. That’s just supply and demand. Not a fool’s gold type hype.
Yeah but that’s not what selling shovels means.
A gold rush is a bunch of fools chasing the latest hype. Like AI or the dot com boom or NFTs.
Selling shovels is when you don’t buy into the hype, but you make money off of the fools who buy into hype.
You’re just talking about standard economics.
When COVID hit, there was an explosion in demand for delivery services.
Yeah. That’s just supply and demand. Not a fool’s gold type hype.