Nonprofit makes $90 MILLION per year selling barcodes

About this video

The hosts discuss the history and business model of barcodes, tracing their invention from Morse code-inspired origins through adoption by grocery stores to solve inventory problems, and explain how GS1, the nonprofit that issues barcodes, has built a highly profitable business with significant pricing power.

Key takeaways

• Barcodes, used an estimated 6 billion times daily, were invented by Norman Woodland and Bernard Silver, inspired by Morse code’s thin and thick lines to create unique identifiers
• The rectangular barcode format we know today was standardized by grocery stores forming an ad hoc committee to solve their labor-intensive inventory tracking problems
• GS1, the nonprofit that issues barcodes, claims $81 million in annual revenue and possesses significant pricing leverage due to their monopoly position on barcode issuance

Episode details: published March 28, 2026 · 20K views · 1:01 long. Summary written by Self Growth Videos from the episode itself. The business ideas, figures and results discussed are the hosts’ and guests’ own claims, shared as brainstorming and entertainment — not verified facts and not investment advice.

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