Today in Entrepreneurial History: August 22

Lochness 4n 1 web

Business Insider has more on the economic impact of the Loch Ness Monster:

There is of course a strong economic incentive to promote monsters like Nessie: tourism. Loch Ness is the main tourist draw in the Scottish highlands, and Edwards makes his living guiding visitors who come from all over the world hoping for a glimpse of the famous monster. No one has suggested that Edwards faked the photo, but it’s fair to point out that if an ambiguous shape is seen in the waters of Ness, the monster interpretation is far more likely to be accepted than a mundane explanation. If it’s a fish or floating log, it’s a non-story; if it’s a possible “best evidence” of Nessie, it’s international news.

The Loch Ness monster first jumped into international notoriety in the 1930s after a photo was widely published showing a serpentine head and neck. That image, taken by a London surgeon named Kenneth Wilson, was touted as the best evidence for Nessie — until it was admitted to be a hoax decades later.

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