Gary Dahl invented the Pet Rock in the 1970s: ordinary stones in a box with a funny care manual. He bought them for a penny, sold them for $4, and became a millionaire in months before shutting it down.
The ultimate get-rich-quick scheme was this rock? Well, how? It all starts with this guy, Gary Dahl. And one night the dude is drinking alone at the bar and the light bulb goes off. Man, I wish I had some strong friends that would never leave me. But he's got a solution. It's a rock. And he knows it's silly, but he sees an opportunity. So he buys a ton of stones at 1 cent each and he upcharges them to $4 and launches the product. And immediately it's selling out and getting a Pet Rock is nearly impossible. But why is it so popular? Well, when you buy a Pet Rock, you are actually getting 4 things. The box your rock lives in, the shape savings your rock lives on, the rock itself, and a manual to take care of your rock. And the value of the whole thing was in the manual titled The Caring and Training of Your Pet Rock. It's a satirical yet professional way of explaining how to properly care for your new stone friend. People are buying for the book rather than the stone. And in this way, you can see that many times products satisfy a need that are totally opposite of what that product does in the real world. So Dahl quickly becomes a millionaire and he shuts down the operations after just 6 months.
