3 ms·

Don't put all your eggs in one basket. We're taught that for everything from investing to dating.

• pixl97 3y ago
  This gets far more difficult as one competitor in an industry nears monopoly status. Lets say for example that you somehow make $120,000 a year over expenses with instagram (don't ask how, it's just an example). This is far more than you previously made in your last job by double. The problem is it takes nearly 100% of your working time to make this income on that single platform. Any less amount of effort and your income drops significantly. Now, you are in a trap where you cannot split your efforts between platforms, you have to go full in on one. Your solution would be to make far less money... um, safely? Whereas a far more realistic solution would be to ensure that you don't live to close to the edge of your means and put 1/3rd of your income back in savings in case the day the platform fails/kicks you occurs.
  • DrScientist 3y ago
    You could define all your eggs in one basket a different way. So you could think about not operating as an individual who can be picked off, but operating in a collective way - either through friends, insurance, or unions. ie what's your support network if you are dropped through no fault of your own.
  • immibis 3y ago
    If you save half your income, then for every year you spend on Instagram, you can spend another year figuring out what to do after Instagram collapses.