"Best income idea ... an app" :data-laughing:
Seriously. I work with apps. Those things are expensive and time-consuming. They make sense if you already have a running business and the app can save costs somewhere. But if you think your new B2C app is going to be the new Tiktok and make you a gazillionaire, think again.
First of all you need people to make the god damn app. You might know some React Native and be able to code something yourself which is fine but you still don't know shit about UX, design, customer support, project management or legal bullshit. You need to spend at least a six-figure sum to move from idea to first release in the app stores.
And then your troubles have only started as you need a ridiculously large marketing budget just to get users to sign up or even notice you exist. With more users comes more load on your backend, resulting in higher hosting costs. There will be a torrent of weird crashes and annoying bugs that you will need to spend time and money to fix. And even if you get your app to work and you get people to actually use it you still need to find some way to extract profit from them without scaring them away.
Think of your clever app idea if you have a lot of money you want to get rid off. Don't fool yourself into believing that your super clever idea for a Facebook killer will pay off your student loans.
People who make these kind of lists doesn't know what the fuck they're talking about and they're disrespecting the hard work that goes into creating the seemingly easy and free products that keeps the digital society running. They are not in the businesses of offering you helpful advice, no matter their intentions all they do is to legitimise capitalism, a system in which the masses (yes, that's you) live under helplessly precarious conditions, by gaslighting you into believing there is a quick fix to your economic woes and that you only have yourself to blame for not exploiting all these opportunities.
These things aren't for their stated target audience. They are for the petite bourgeois shitheads who inherited wealth or lucked into it to reinforce that they are not only deserving of their lucre but also plenty of handy justifications for why the poor deserve to he poor.
Buying an app is probably a good bet, based on what has happened in the past. Not that I agree with it, fuck these people.
A company will buy an app that many people have already installed, then either add more ads, more spying, or more micro transactions to it.
Obvious :mao-aggro-shining: energy aside, half of these aren't even passive income. If you're making an app and selling it to people, that's just a job.
Selling an ebook? Selling an online course? About what? Are passive income people just constantly selling advice to each other?
The majority of online courses telling you how to make money fast are about learning how to design and market an online course about how to make money fast.
Any source of passive income that isn't putting money in a place where it turns into more money when line goes up isn't worth it. As mentioned, a lot of these aren't even passive income.
They will never make money at any appreciable rate unless you are doing them enough for it to be an actual job, unfortunately. Fast, easy money for the proles usually comes in some sort of illegal fashion, like selling drugs.
:alex-supplements:
Hey, I've got blueprints for building a hover car. I'll sell you a copy for 5,000$.
Fast, easy money for the proles usually comes in some sort of illegal fashion, like selling drugs.
There was a Freakonomics article from way back that posited "Why do so many drug dealers still live with their parents?" And the answer amounted to street dealing being a really terrible way to make money. Your risks are high, because you're carrying all this illegal inventory and cash. Your sales are irregular, as your clientele's own income and consumption habits can vary heavily. And wholesale costs swing wildly.
The real money tends to be with the wholesalers and regional bosses, who manage the intercity trafficking and employ agents to distribute and retail sales. They take a sizable cut of revenue and can claim another cut as loan-sharks to their employees. They're able to launder their money into legitimate enterprise (Crooked Ladder: Gangsters, Ethnicity, and the American Dream also does a great job of documenting other historical instances of this post-Prohibition Era capitalization of minority circles) rather than living hand-to-mouth on criminalized incomes.
Street level drug sales are neither fast nor easy. Not since the Reagan Era War on Drugs really kicked into high gear, anyway.
Option one is rent a room. What do they think I am, stupid? I know if I do that, Mao will rise from his grave and come after me terminator-style.
As Ronald Reagan (also naked except for a pair of sunglasses) takes blasts at him with a shotgun.
Yes, hm, yes, I will get right on starting my own ATM business. Can't be too hard.
they mean putting fake fronts on ATMs to steal credit card info
with the introduction of chip cards it's not really practical. used to be you didn't even need to open the machine, just put a little device over the slot that just copies the signal off the mag strip.
Most of those aren't passive.
Dividends, royalty income, rent out your stuff, silent business partner seem passive. The rest are kinda... work.
"Start a laundromat" motherfucker do you think clothes get clean with magic?
:brace-cowboy:
"Shit muthaf**ka! I've had a laundromat in my back room for years and I ain't made a SINGLE damn cent!"
"Invest in royalty income" is just writing a book as phrased by a scammer
Oh its even worse, its things like "mineral royalties".
Like, you can go out and use public records to figure out which rando's are collecting natural gas extraction royalties from a company and buy the rights to the royalties from those people.
TIL that cars wash themselves, apps program themselves, books write themselves, courses teach themselves and videos record themselves. All you have to do is sit back and rake in that sweet passive income.
It's the King of the Hill episode with Khan's turnkey business scam.
Whoever made this absolutely have never done anything on this list
my high yield savings account, where i keep my catastrophic home repair/job loss money, is crushing it at 0.5%, which is making it rain about $5 a month on me.
if i save that up for 3 months, i could get a combo meal at Burger King and have enough cash left over for a couple of cans of beans.
all from this passive income game. pretty cool stuff.
Passive income is when you fail to keep up with inflation slightly less badly than just keeping your money in cash.
These are all worse ideas than investing in like an index fund, lol
Most of these aren’t passive income, but are active side hustles, which you should consider if you have student loans coming due soon ;)
