Earlier quoted context omitted.
Huge problem in the creative fields. Almost everyone is super hyped that someone finally likes their work enough that they actually want it, let alone actually want to pay for it. So they undervalue their work and sell it for peanuts. I sometimes see work priced so low that it barely covers the supplies. They might sell a few but don't want to raise their price as they get better. Get a few people doing this and it b…
It's sort of the reverse side of The Greater Fool Theory in economics. Not sure if there is a term specifically for this, but it definitely causes a lot of irrational business decisions even outside of creatives. I used to have a pretty successful business buying products at the monthly USPS lost mail auctions and reselling them online. But a bunch of bloggers picked up on the opportunity and started hawking it as a…
Then the TV shows came out and that put an end to that for them. Bids were too high that it wasn't feasible anymore.