# Ethan Mollick says the gold rush analogy misleads AI startup thinking

> Original title: I think “sell picks and shovels” is the wrong lesson for AI startups.

- Source: Ethan Mollick
- Published: 2026-10-29T16:32:06.000Z
- Bad Influence: https://badinfluence.news/items/j8bweprrh1dreb1mupu4hd48t
- Original: https://x.com/emollick/status/2115844131985494092

## Summary

Ethan Mollick argues that "sell picks and shovels" is the wrong lesson for AI startups. He says the Industrial Revolution is a better analogy than the Gold Rush, because gold is a finite pile while machines keep making things cheaper. He adds that far more people got rich using the new machines than building them.

## Post

I think “sell picks and shovels” is the wrong lesson for AI startups.

The Gold Rush analogy is weaker than the Industrial Revolution. Gold is a single pile that runs out. Machines keep making everything cheaper. Far more people got rich using the new machines than building them.