How to Not Price Your Product Like a Moron

In 1799, a 12-year-old boy by the name of Conrad Reed stumbled upon a large yellow rock resting in the churning waters of a river outside his house.

Intrigued, the boy fished out the rock and showed it to his father John Reed, a poor North Carolina farmer. While John found the yellow rock to be out of the ordinary, he assumed it wasn’t worth much, and for the next three years the heavy…