The article redefines the common "sell shovels" metaphor for gold rushes, arguing that true competitive advantage lies in "selling treasure maps" – understanding where to dig rather than just digging faster. It posits that historical and modern successes, particularly in the age of AI, stem from leveraging curiosity, curation, and judgment to redefine competitive landscapes and unlock asymmetric value.

The "Shovels vs. Treasure Maps" Metaphor

• Traditional "Shovel" Logic: Focuses on improving existing tasks and increasing efficiency (e.g., faster digging, productivity tools).
• "Treasure Map" Logic: Emphasizes knowing where to dig, identifying hidden value, and fundamentally changing the basis of competition.
• Implications: Shovels lead to commoditization and marginal gains; treasure maps create leverage and asymmetric value.

Historical Examples of "Treasure Mapping"

• British East India Company: Mapped global wind patterns and India's terrain to gain control, tax, and govern, rather than digging for gold directly.
• Walmart vs. Kmart (1980s Barcodes): Kmart used barcodes as a "shovel" for faster checkout, while Walmart used them as a "treasure map" for supply chain visibility, flipping power structures.
• John Snow (1854 Cholera Outbreak): Mapped cholera deaths to identify the Broad Street pump as the source, shifting understanding from airborne to waterborne transmission.

"Treasure Map" AI in the Modern Enterprise

• Current AI Trap: Most enterprise AI sells "shovels" by automating existing workflows for speed and cost reduction (e.g., faster presentations, emails).
• True AI Opportunity: Lies in "treasure map" applications that provide direction, uncover hidden relationships, and enable better decision-making (e.g., BlueDot's early COVID detection, Dataminr's riot alerts).
• Transformative Impact: AI-native companies (like TikTok, Boeing's integrated CAD/CAM approach) use AI to reimagine workflows, organizational structures, and the very basis of competition.

Key Components of "Treasure Map" Creation

• Curiosity: Drives the search for new insights and better models of where value resides (e.g., George Harrison in Witwatersrand, TikTok's content discovery).
• Curation: Involves elevating relevant signals and excluding noise to build a clearer map (e.g., Jesuits in China, Palantir, Michelin Guide's restaurant ratings).
• Judgment: Applies the map in ways that alter perception and enable strategic action, reframing problems and solutions (e.g., Michelin maps for D-Day, Stripe Radar for fraud detection).