3 ms·
Things can have high utility without any actual value. Toothpicks, eating utensils, screwdrivers, etc. The problem comes when people mistake one for another.
by bb88 5y ago
Things can have high utility without any actual value. Toothpicks, eating utensils, screwdrivers, etc.
The problem comes when people mistake one for another.
IOW, buying a bunch of screwdrivers isn't a great retirement strategy.
- cinntaile 5y agoIf you buy quality screwdrivers you'll be able to resell them for a good price.
- bb88 5y agoIf you bought quality USA made screwdrivers in 1980, you must have been surely been disappointed when China started making quality tools for cheaper in the 1990's. Most people would have stopped caring about quality, and instead started caring about cheap utility. "It's good enough."
- WastingMyTime89 5y agoLast time I checked Home Depot was doing quite well. There certainly is value in selling things with high utility with a small markup. You just have to do it at scale.