Jeff Rubin told me about “The Underpants Gnomes,” which has been an emerging reference point in the Web 2.0 business world. The term comes from an episode of South Park.
Some background from Wikipedia:
The Underpants Gnomes have a three-phase business plan, consisting of:
- Collect underpants
- ?
- Profit
None of the gnomes actually know what the second phase is, and all of them assume that someone else within the organization does.
Sounds like a lot of recent start-ups.
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