This is go-to strategy for /r/entrepreneur's crowd. If I remember correctly, Tim Ferris even recommends it in "4 Hour Workweek."

It's the go to of the (small-business) entrepreneurs all over the web (TheFastlane, /r/entrepreneur, etc.).

I'm fairly certain it started around 4 years ago with Matt Clark's "Amazon Selling Machine." A friend who paid the $1000 let me watch the course and it was a pretty simple (and old) tactic.

Buy wholesale and sell at markup. Except this time you would have it under your own "private label" (i.e a Chinese factory would slap your logo on a generic and sell it to you).

Apparently he made a killing doing the same thing with silicone spatulas.

> $1000 ... course

Wow. Surely the best advice such a course could possibly give would be 'convince people you can teach them to make money, and charge a lot for it'.

Yeah a few years ago it was SEO courses , now Amazon selling courses which are way overpriced, next ... ?

Who gets rich in a goldfish, the miners or the person selling the tools?

If you're in a goldfish I think you're already out of luck

I think he's trying to say "you can't teach a goldmine to ride a bicycle".

Edit: Humorless. Sad.

I didn't downvote, but I just don't think people understood the joke (I for one didn't)

Pure goldfish, thanks for that.

No, meant goldrush, not sure why I typed goldfish..

> Who gets rich in a goldfish

I think it must be the diver because he found the treasure chest, assuming that it isn't counterfeit:

https://www.amazon.com/Bestgoo-Aquarium-Ornament-Live-Action...

Historically, the people who got rich during the gold rush were the ones offering services and selling goods to the miners.

So the answer to your question is the latter.

The private labeling strategy is also getting to be a thing in the travel hacking crowd too.

See, for example, http://www.frugalhack.me/2017/02/23/private-labeling-101-int...

It works if you have an audience. I suspect very few of those who are just sticking the stuff up on Amazon are successful unless they happen to find a niche without a lot of other people doing the same thing.

Yes, its those Americans ripping off books and printing them for near free, ruining English artists and writers. Remember the HMS Pinafore- what a royalty massacre, by those lawless Bösentals!

There is only one way, to bring those evil-doers back to the light of justice. Tax them for whatever they stole! Oh, sorry, wrong century, wrong villain!

I assume you're trying to imply that danjoc is racistly assuming that these "entrepreneurs" are Chinese? It seems to me you're the one who brought that assumption in. Alibaba is Chinese, sure, but the "entrepreneurs" in question are not necessarily.

I try to relive the historic moment, when printing without royalty was common place- also know as enlightenment. Im not implying racism, its just the anger of the has-something over the ladder climbers beneath taking the same steps, his grandfather took, to get "up". I mock, what every book on the history on printing could tell you- that this joke was here several times. Although never this cheap before. People who laughed at historys repetition, also laughed over..

Impressive Markov work, dude.

There is plenty of room at the bottom. Yesterday they screamed for the singularity, for information to be free, today it is free, and they yell for protection, of their minds hard labor, so completely different from the protection they deny those who work with their hands. Tomorrow, some Namibian kid, learning with cheap ripoff books, will cure there cancer, allowing them to scream on for the centuries to come. To get downvoted by this, this is praise.