A fork of Rural Dictionary
A business model in which a company may have great offerings, but does not necessarily great profits due to a lack of stratedgy or how the business is run. Outlined in an episode of South Park, where gnomes are stealing the town's underwear. The gnome's plan is to... Step One: Collect underwear. Step Three: Profit.
WebMD's underwear gnome economics. Step One: 'Provide connectivity and a full suite of services to the healthcare industry that improve administrative efficiencies and clinical effectiveness enabling high-quality patient care.' Step Two: Step Three: Profit.