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A self-running business seems cool and magical - like creating a living thing... life! But, I think, for truly passive income (meaning it runs itself), he's rig
by 6ren 13y ago
A self-running business seems cool and magical - like creating a living thing... life! But, I think, for truly passive income (meaning it runs itself), he's right that it does have to be some kind of arbitrage opportunity, that will tend to stay around. By definition, it isn't intrinsically interesting or satisfying. But, in itself, there's nothing wrong with that.
OTOH, I'm not saying startup guying is the only solution - just that satisfaction requires ongoing work. Once you complete your startup (for example), you have to find something else to do - another startup, create YC... something.
Why not just do what you find satisfying in the first place? It could be a startup. It could be just to make money (e.g. Warren Buffett loves making money). Or it might be something else.
Here's a twee story about a hand-to-mouth fisherman http://www.rinkworks.com/peasoup/richman.shtml http://www.rinkworks.com/peasoup/richman.shtml
- DanBC 13y agoIf you pick the right passive income thing it could provide the money you need to do the work that you find interesting, which might not have any money in it. > Why not just do what you find satisfying in the first place? The satisfying thing might not pay the bills.
- 6ren 13y agoMaybe. I think that satisfying work (stressing that it's "work" not just pleasurable activity) will always be creating value. And value is valuable to someone, in some way, hence there's a way to make money from it. Maybe not very much money... A second problem is it might take time before that value is recognised. Hence, the painter's, actor's "day-job". Passive income is a day job. However, it's actually quite difficult to find a passive income niche, it's work and risk to do it, they usually end up not being 100% passive after all, and few niches are stable long-term (even huge enterprises don't last forever).
- ogd 13y agothe problem is that my satisfying activity would be beach sitting, margarita drinking, and orgy-having with hot women. Unfortunately, this life is far from income generating (quite the opposite)
- snoonan 13y agoThis is really not true. I LOVE my work and it's very satisfying. I just do it on a less than full time basis. It's not an arbitrage in the sense you're thinking, but more of a disruption of small part of a relatively small space. Small but still a business. Think lemonade stand with better tasting lemonade than the supermarket next door.