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“When everyone is looking for gold, it’s a good time to be in the pick and shovel business.” (Mark Twain)
Introduction
Metaphorically speaking, a company is said to be in the picks and shovels business if they are providing derivative goods and services in support of entities engaged in some primary activity. Using the gold mining analogy, the idea is that while perhaps less glamorous, it may be a similarly lucrative yet less painful existence to simply hand out the t...
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