How to Monetize Your Data
Ever heard of Marmite or Vegemite — the yeast extract spreads — and wondered what they actually are?
If I told you they were a waste product, half of you reading this would declare that they taste like waste too. But if I told you it was an ingenious way to make money from a by product of brewing beer, the other half of you reading this would declare that you tasted the genius in the sticky black goo and knew this was a spread only for the discerning.
Breweries used to tip thousands of pounds of frothy yeast down the drain every month. It was useless. But Justus Liebig discovered he could make this brewery waste edible. He concentrated it, heavily salted it and created Marmite. The company, founded in England in 1902, still manufactures over 50 million jars a year. Cyril Percy Callister of Australia followed soon after with Vegemite in 1920 when Marmite imports from Britain were interrupted following World War I.