Mollick: 'Sell picks and shovels' is the wrong lesson for AI startups — machine users got richer than builders
emollick · x · 2026-10-30
Ethan Mollick argues that "sell picks and shovels" is the wrong takeaway for AI startups. The Gold Rush analogy is weaker than the Industrial Revolution: gold is a single pile that runs out, while machines keep making everything cheaper — and historically far more people got rich using new machines than building them.
Related event: Mollick: The Real AI Startup Lesson Is Using Machines, Not Selling Shovels(3 posts)→
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