Hello, thank you so much. This was very insightful. I do have a question though. Can you please explain why it is better to sell picks and shovels instead of mine gold?
Hello Trishala. Thank you for the kind words. Glad you found it insightful. With regards to your question, selling picks and shovels corresponds to selling infrastructure tools. It will put you in a better position to capitalize on the AI gold rush.
There are many people who're building AI applications and many of them might end up empty handed. But every single one of them will need infrastructure (i.e. picks and shovels) to run their business. If you're selling an infra product like that, you'll be able to build a strong business.
To take an analogy, let's say you're building a SaaS product and you use AWS for hosting. Now your revenue may go up or down depending on how many customers use your product. You may have no revenue at all. But you will always have to pay AWS because they're selling you the infrastructure underneath. This is an example of selling picks and shovels.
Hello, thank you so much. This was very insightful. I do have a question though. Can you please explain why it is better to sell picks and shovels instead of mine gold?
Hello Trishala. Thank you for the kind words. Glad you found it insightful. With regards to your question, selling picks and shovels corresponds to selling infrastructure tools. It will put you in a better position to capitalize on the AI gold rush.
There are many people who're building AI applications and many of them might end up empty handed. But every single one of them will need infrastructure (i.e. picks and shovels) to run their business. If you're selling an infra product like that, you'll be able to build a strong business.
To take an analogy, let's say you're building a SaaS product and you use AWS for hosting. Now your revenue may go up or down depending on how many customers use your product. You may have no revenue at all. But you will always have to pay AWS because they're selling you the infrastructure underneath. This is an example of selling picks and shovels.