Making money

I saw Bill Gurley say that you can only make money by being right about something that most people think is wrong. His logic was that you can’t make money by being wrong. And you can’t make money by being right about something everyone else knows. So you have to be right about something that most people think is wrong.

Sounds a lot like what Apple does.

  • Corollary: you can also make money by fixing what most people thought was right (pursuing a conventional solution), but turned out horribly wrong. What you might not be able to disrupt, you can certainly remediate.

    • Hypothesard

      intellectually I agree, but the reality is companies like Microsoft who are all about code regression while hoping somehow they’ll get It right this time…

      • Oh, I wasn’t referring to Apple or Microsoft specifically. Or even consumer computing, necessarily.

        Both my father-in-law and I have been able to achieve a certain amount of success (his is an order of magnitude greater than mine) by cleaning up some of the messes that mediocre people are paid to make. Two entirely different career categories.

        But if you’d care to zoom out a little on Microsoft’s code, I’m guessing you can find a bunch of businesses who’ve switched to Macs after years of being told how much better cheap Dells are with twice as many IT staff to maintain them. Remediation.

        • Hypothesard

          nodding 🙂 the dozen of IT guys/gals i know used to service PC at work while enjoying a more less painful Mac environment at home… most of them moved on/up to higher responsibilities either at networking big shot companies or transformed their company by replacing PC with Mac where It was appropriate and in the process made half of the former IT team go work (or not) elsewhere.

          — sorry, no particular context at all, just adding to the pile… 😉

  • stoneymonster

    I think that’s a roundabout way of saying, the greater the risk, the greater the reward.

  • There are plenty of tech journalists making a nice living out of being wrong.

    • And a good handful of bloggers who’re doing the same by providing genuine information and contextual analysis.

  • Hypothesard

    you can’t make money by being wrong

    … and yet analysts still keep getting paid to spit nonsense quarter after quarter, so do New Media Douchebags and majority of the websites out there…

    Unfortunately The Loop is the exception, not the rule… (making some but not enough money by writing what the authors know to be true – fact checking – and believe is right)