Selling pickaxes during a gold rush https://cdixon.org/2011/02/05/selling-pickaxes-during-a-gold-rush https://cdixon.org/2011/02/05/selling-pickaxes-during-a-g

Selling pickaxes during a gold rush https://cdixon.org/2011/02/05/selling-pickaxes-during-a-gold-rush https://cdixon.org/2011/02/05/selling-pickaxes-during-a-gold... > There is a saying in the startup world that “you can mine for gold or you can sell pickaxes.” This is of course an allusion to the California Gold Rush where some of the most successful business people such as Levi Strauss and Samuel Brannan didn’t mine for gold themselves but instead sold supplies to miners – wheelbarrows, tents, jeans, pickaxes etc. Mining for gold was the more glamorous path but actually turned out, in aggregate, to be a worse return on capital and labor than selling supplies.