Definition, Meaning & Synonyms
picks-and-shovels
Noun
/pɪks ənd ˈʃoʊvəlz/
Definition
A metaphorical term that refers to the tools and services that support an industry or market, particularly in times of growth or used to describe businesses that benefit from the success of others.
Examples
- During the tech boom, companies producing software tools acted as the picks-and-shovels for startups seeking to grow.
- Investing in picks-and-shovels providers can be a safer bet than investing directly in volatile commodities.
Meaning
The phrase ‘picks-and-shovels’ originates from the Gold Rush era, signifying that those who supply the tools for miners are often more successful than the miners themselves.
Synonyms
- Supporting services
- Auxiliary tools
- Infrastructure
