I want to challenge that metaphor a little bit and ask the question: who did sell the shovels in the California gold rush? Can we name a company, or a person, who amassed great wealth and fame for doing it? Can we name a company that survives until 2026, still selling shovels or excavation equipment, still famous for their big break in 1849? I don't think so.

However, I can tell you someone who fits all those criteria: Levi Strauss. Strauss founded a company to sell dry goods, as well as tents and jeans, and eventually specialized in those denim jeans. Levi Strauss became a household name and an enduring success of the Gold Rush.

Therefore, I say that this motto is flawed; so let's correct it: "In a gold rush, sell the work clothes!"

The person who most famously got rich selling shovels in the Gold Rush was Samuel Brannan. You'll find the street named after him just a short walk from both the Anthropic and OpenAI HQs.

My take on picks and shovels was always a more cynical one. The beauty of the metaphor comes from the fact that after the miners went bust and left their picks and shovels where they lay, they could be collected and sold again to the next dreamer.

Levis.