In a nutshell:
If there's a goldrush, you get rich by selling shovels.
... unless there are already 200 shovel shops next to each other...
If there's a goldrush, you get rich by selling shovels.
... unless there are already 200 shovel shops next to each other...
> he owned the only store between San Francisco and the gold fields — a fact he capitalized on by buying up all the picks, shovels and pans he could find, and then running up and down the streets of San Francisco, shouting 'Gold! Gold on the American River!' He paid 20 cents each for the pans, then sold them for $15 a piece. In nine weeks, he made $36,000."
They can sell the stuff 1/5 of the price and you're not getting rich anytime soon.