Take Tongliao beef jerky, for instance—a textbook case. Is it a good product? Can it sell? Yes. But can it capture the market? No. Why? Outdated thinking leaves no room for first-mover advantage. There’s an industry but no industrial chain; there are products but no pricing power. That’s a chronic ailment across northern China.
That said, it only works if you pivot to a high-ticket, low-competition niche—like a hairdresser switching to pet grooming, where income can multiply several times over. Who would have guessed that lazy young people could become organizers charging $168 an hour?
When Graduates from Top Universities Step into Blue-Collar Work
There’s no doubt that academic credentials act as a gatekeeper for most people’s job searches. It’s already a bachelor’s degree today, and in two years it may well be a master’s, given the surge in graduate degrees. To stand out and keep from being filtered out, you’ll need to invest extra effort learning additional skills that make employers pause and take notice.
Most books could be written as a single blog post. Each blog post could be a single tweet. And many of those tweets wouldn't even need to be published. But to make money, you need traffic. And to get traffic, you have to produce volume.
Original: https://www.cjchilvers.com/blog/35-lessons-from-35-years-of-newsletter-publishing/
Multiply the expected winning amount by the probability, and you get a figure that's bigger or smaller than the cost of buying this lottery ticket (the underlying asset).
If it's bigger, keep buying — buy in bulk. That's called risk-free arbitrage. If it's smaller, whoever buys is just throwing their money into the water.