You've very rightly highlighted that Niche Skills are too rare to find, and have too small a lifespan. They very much resemble the best stocks being traded in the secondary market. Too rare to find, too little survival time, and hence, too early to lose their value. The human tendency to value the present much more than the future (what behavioral economists call the Hyperbolic Discounting) seems the reason for this.
All those skills which reap small but early benefits are more trendy as niche skills rather than those which reap much more in the long run. Hence, every skill which isn't inculcated considering the far-away prospects is natural to lose its worth as per my opinion.
Hello Sir,
You've very rightly highlighted that Niche Skills are too rare to find, and have too small a lifespan. They very much resemble the best stocks being traded in the secondary market. Too rare to find, too little survival time, and hence, too early to lose their value. The human tendency to value the present much more than the future (what behavioral economists call the Hyperbolic Discounting) seems the reason for this.
All those skills which reap small but early benefits are more trendy as niche skills rather than those which reap much more in the long run. Hence, every skill which isn't inculcated considering the far-away prospects is natural to lose its worth as per my opinion.
Thanks for the content! :)