The "passive income" fad REEEETUUUUURNS!
Unbelievable.
It is some sort of deeply held (American?) dream to just coast along and do nothing. The STRC obsession, I imagine, stems from this same place (#1513531, #1514431) -- I just don't think I'm meant to live an uncomfortable life...
"Greg Keogh couldn’t stand commuting, office attire and feeling depleted at the end of a workday.""Greg Keogh couldn’t stand commuting, office attire and feeling depleted at the end of a workday."
Ah, yes. #1514801
Like most 30-somethings, he didn’t have a trust fund or enough savings to live off dividends. So he sought out a light-touch way of making money that would free up his time. [...] The bigger reward is that he can choose what he spends his days and energy on with less concern for how much money it will bring in. “That is the ultimate power,” said Keogh, who lives in Austin, Texas.
"If the mythos of the American dream is to work hard and get ahead, it’s being eclipsed for some by the dream of not having to work at all.""If the mythos of the American dream is to work hard and get ahead, it’s being eclipsed for some by the dream of not having to work at all."
Perhaps quite understandable... everything is broken. #1514801, #1515074
It’s not that the fantasy is new. But it is gaining fuel from a growing feeling that traditional work is broken. In March, the shares of U.S. workers who were satisfied with their pay and opportunities for promotion were the lowest they have been since the New York Fed started asking in surveys in 2014. [...] Over half of Americans, including 60% of Gen Z adults, say a conventional full-time job won’t allow them to hit their financial goals,
Finding a legitimate passive-income strategy that is actually passive and doesn’t get overexposed is difficult. Promising ideas quickly get crowded with competition, and many online entrepreneurs find it is more lucrative to sell a method to others than to spend time executing it themselves.
As always, AI makes everything bad worse:
Lately, AI is putting the quest on steroids, with people pumping chatbots for moneymaking hacks and using content generators to rapidly churn out videos, books and other media they hope to monetize online. “It’s more of a bet in this casino economy of ours,” said Victor Tan Chen, a sociologist at Virginia Commonwealth University.
"Just as much as passive income is a literal goal, it is an idealized state of being where a job is optional and time is plentiful. In practice, many who chase it end up working awfully hard at trying to not have to work.""Just as much as passive income is a literal goal, it is an idealized state of being where a job is optional and time is plentiful. In practice, many who chase it end up working awfully hard at trying to not have to work."
Yes, loyalty programs are shitcoins #869415, the ownership obsession a burden #1459569.
Ebso is currently paying his rent with a passive-income arrangement that didn’t exist when Ferriss’s book came out. He records samples of his speech and creates “clones” of his voice on a platform called ElevenLabs, where they can be licensed for AI voice tracks for audiobooks, videos and other uses. His digital chorus, which includes personas for guided meditations and narrating fantasy tales, earns him about $3,000 a month.
oh lord, I'd rather be an escort (#1507003)
Finally: YEEESSSSS of courseFinally: YEEESSSSS of course
archive: https://archive.md/TIbpZ
P.S., anyone wanna zap be scudos now that the sats are worthless?
Almost none of the examples are really passive income. Selling on Ebay is not passive income -- even if Amazon does the fulfilment.
Lend at HodlHodl isn't entirely passive income either -- but it is putting your bitcoin to work (without counterparty risk).
https://lend.hodlhodl.com
WOAAH. How much commission are you getting from this very non-passive income?!
I've been a hodlhodl user for well over a decade ... for P2P trading. Never used their Lend service, but they are solid.
No commission -- that wasn't a referral link (I think those aren't allowed on SN anyway).
Anyway, if you have any suggestions for other non-custodial, minimal (if any) risk methods for earning in bitcoin, please share.
It does seem a little like the way "passive income" is used these days gets awfully close to "scam." But then again, what's wrong the the ebay resller? A gas station convenience store is a middleman too and perhaps there are reasons people can access his listings on ebay but not the products themselves on Amazon.
You always hear stories of the people who have made all sorts of money for nothing. No one will remember their names (and perhaps they are fine with that).
yes.
And it goes to the rest of your commentary, too. They're not socially beneficial activities; they're just straight-up scams/skimming. The gas station has longer opening hours, provides goods here and now (compared to finding them at e.g., CostCo). None of that apply for the Amazon->eBay scam
Maybe their amazon account got locked.
Maybe they have an eBay gift card.
Maybe they're a millionaire looking for vintage watches and didn't want to open a new browser tab.
Don't see how it's a scam if people voluntarily buy and receive what they ordered.
Yeah, I believe that. (...but my tommy gun don't...)
I increasingly relate to the sentiment about being willing to trade some financial security for more autonomy.
there should be a market between us, then. Because I could say...
e.g., #1513929
There's already a market between you
True. If his lazy ass would write more, I wouldn't have to work so much and he'd have a more stable income.
I'm very unclear as to how this would work out for you -.-
You work hard and I get 21%. It's a more generous offer than you'll get from your beloved Norway.
...but all I "get," (I guess my revenue?) is mostly from, like, six stackers -- of whom you're one.
But OK, I see how that's "passive." (Not sure sure it's income; first, territory rent; second, deteriorating and debasing bitcoin value)
Ah, so you think it might be a problem for my business model if I'm the one both paying and taxing you?
Also, obviously I own ~econ, because renting is for lazy communists.
My lazy ass too
Mine too, obviously
There should be.
One related thing that annoys me about the econ job market is that there are quite a few jobs that pay incredibly well for work that I'd be happy to do but they require much heavier hours than I'm willing to do.
You'd think they'd be open to offering something like half the pay for half the hours. I know there are a large number of economists like me who avoid those jobs for that reason (which might be the point).
do you think it's similar to e.g., concentration in law firms (or, until recently, investment banking) where 2x excellent lawyers at 40h/week is LESS VALUABLE to a specific client than 1x equally excellent lawyer at 80h/week?
I honestly don't know. I think some of it is just bad American work culture and some is intentionally selecting against people who value anything outside of work.
Imma say maybe there's some of that "bad American work culture" involved in the below?!
Look, more slave whipping from the American capitalist pig
At worst, I'm attempting to neg you into compliance.
Have you looked into something like legal consulting? I know that one of my colleagues did it part-time. I know a number of people, including myself, who've also worked part-time at tech companies doing data work for them; those may require some kind of "in" with the company though to swing it. I think if you have an "in", it's actually an attractive proposition for them if they don't have to pay your medical insurance but can get like 10 hours/wk out of you.
I haven't looked into legal consulting since being on the job market after grad school. That was a fairly common placement for people in my program.
I am actively looking into data work at tech companies. We'll see if it pans out.
You could have a bright future in narrating fantasy tales.
I. doubt. it.
Hooking it is then.
all I have, apart from my witty tongue and a pretty Oxford degree, is my really beautiful arsehole
The ebay markup scam is pretty funny. I'm surprised you can net thousands a month doing that. I wonder if they meant revenue, rather than profit.
quite possibly. Given how retarded peeps involved in this sort of thing are likely to be, I'm sure they could respond with the "revenue" number when they're asked about profit. (or the journo/editor picked the larger, fancy-looking number)
Fair enough. When I tell people about SN, I quote them my revenue HAHAHA
you tell people about SN?? whyyyy?
Best I can do is zap you a diversified portfolio of sats and cowboy credits
how sad.
We got all these AI tools and coding expertise.
Can't someone figure out a decent way to zap scudos?!Can't someone figure out a decent way to zap scudos?!
Office Space is my all time favourite movie