Set $n \ge 1$. Prove that $$n!-1 = \sum_{X \in \{1,2,...,n-1\}^P} \prod_{y \in X} y.$$
I found this one while studying my combinatorics lecture notes. Intuitively, $n!-1=(1+1)\cdot(2+1)\cdots(n-1+1)-1$. Expand and it looks like the resulting sum of products. I tried to prove this identity using induction but it somehow got very complicated.
Remark: $P=$ powerset.