This post was written over 6 years ago but it’s more applicable than ever, especially during the bitcoin and cryptocurrency craze that’s sweeping around the world.
But my brother has gone in the opposite direction and instead of focusing entirely on the more sexy things like working on an ICO (which essentially is peak-crypto) he’s building digital pickaxes that’ll form the very foundation of a long-standing business that’ll be impervious to market movements.
As Chris mentioned in the post, it was far better to sell pickaxes to the droves of folks who came west in their quest to mine for (real) gold instead of spending all that time trying to mine directly:
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.
And that is essentially the goal and focus of the work that he and the rest of The Bitcoin Pub Team are angling towards during this digital gold rush around bitcoin, cryptocurrency, and blockchain.
Things like native applications that’ll help create value for every (digital) gold rush artist out there as well as the infinitely-scalable community around his YouTube Channel that he’ll be able to take with him wherever the winds of change may lead.
Actually, he’s already executing against the larger vision and is already making a few dollars from his work so far (e.g. pickaxes) and launched this morning a new Patreon Site (with a killer, super-easy URL) that already has over 100 subscribers (and growing):
The gears and wheels are turning and he’s putting Chris Dixon’s wisdom and perspective into serious play. The amazing thing, to boot, is that it’s actually working and that really blows my mind.
So proud to be a part of what my brother is doing and to watch him bring his decades worth of experience in software / product development, consulting, and even writing and public speaking makes my heart smile.
It’s all coming together in a mighty way and it’s just, at the end of the day, providing simple yet tangible value to folks who need it the most: Digital pickaxes for the modern cryptocurrency gold rush.
Timely, effective, and fun. Who would have thought.
Also published on Medium.