In a recent LinkedIn post, Callum Laing explores the often-overlooked financial opportunities that arise in secondary industries as a consequence of major market shifts. Laing, a member of Veblen, shared insights from a discussion about securing board roles and identifying lucrative sectors.
Identifying Booming vs. Declining Industries
Callum Laing highlights a crucial business principle: while primary industries experiencing rapid growth attract significant attention and competition, it is often the secondary industries that present the most accessible opportunities, or “lower hanging fruit.” He notes that the intense focus on a primary booming sector can make it crowded and difficult to penetrate.
“However, often the main industry gets very crowded and tough to enter (because everyone is heading there), the secondary industries can actually be where the lower hanging fruit sits.”
The Ripple Effect of Innovation
Laing uses the example of artificial intelligence, specifically the emergence of ChatGPT, to illustrate his point. While AI itself was the obvious primary industry, he points out that the secondary industries, such as electricity, semiconductor manufacturing, and data hosting, also experienced a significant boom. This demonstrates how transformative technologies create demand and growth in adjacent, less obvious sectors.
Further elaborating on this concept, Laing discusses the impact of GLP-1 drugs like Ozempic. The pharmaceutical industry saw a resurgence, but Laing identifies a surprising secondary industry that experienced a massive uplift: the apparel sector, specifically underwear. As individuals using these drugs experience significant weight loss, they often need to purchase new clothing, including underwear, sometimes multiple times a year.
“When Ozempic (and other GLP-1 drugs) came out, the pharma industry suddenly became a hot industry again. Want to know what secondary industry suddenly boomed? Underwear!”
Focusing on Future Opportunities
Callum Laing emphasizes that the true entrepreneurial mindset lies in anticipating these knock-on effects rather than solely focusing on the immediate, headline-grabbing trends. He contrasts the media’s tendency to focus on the negative aspects of change with the entrepreneur’s ability to look ahead.
The Entrepreneurial Advantage
According to Laing, while the media might highlight challenges, entrepreneurs should be focused on predicting future market movements. He suggests that identifying these secondary opportunities requires a forward-thinking approach.
“The Media will focus on the negative, the entrepreneurial mind will focus on where the puck is going next.”
Laing concludes by acknowledging that not every prediction will be accurate, but stresses that success in business doesn’t require constant wins. As he puts it:
“You won’t always get it right, but you don’t need to be right often to score the goals.”
This perspective encourages a proactive and strategic approach to identifying business opportunities by looking beyond the obvious and anticipating the secondary impacts of major industry shifts.
📝 About This Content
This article is based on insights shared by Callum Laing on LinkedIn.
📅 Originally posted on June 23, 2026 | View original post on LinkedIn →