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Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

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Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#11

Post by mcdoug »

joenot443 wrote: post #6

Based off your description, I would say the most pragmatic way to secure a slice of that pie and retire early would be to take up the Leetcode grind. I was blessed to be in a position where I was able to spend nearly the entirety of my quarantine free time practicing Leetcode. Last week I signed an offer with an American FAANG level company and more than doubled my final TC. I realize this is a highly anecdotal, unus…

LeetCode looks like a bootcamp/school for software development. I don't feel like that's where my weakness lies. I am a productive software developer and am up to date on most of the latest tech. Teaching for something like that would probably be more my speed. Also, where I live there are no FAANG companies and relocation is not an option. I work from home and unless there is a local software company that is hiring, I am out of luck.

What do you mean by TC and what is Blind? The rat race is pretty much what I'm trying to escape.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#12

Post by mcdoug »

momentmaker wrote: post #7

Since you mentioned crypto trading, might I suggest you take a deeper look at what fundamentally blockchain can accomplish via smart contract and then invest in project that will be powering it. One project I'd suggest you checking is Chainlink. Check out these reading and video: https://blog.goodaudience.com/chainlink-the-missing-piece-to... https://medium.com/@smartcontentpublication/accessing-all-bl... https://www…

Thanks. I'll look into it.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#13

Post by mcdoug »

quotz wrote: post #9

If youre focusing on the money youre gonna make a bad product... PG's essays really do explain everything so be sure to read them.

Yes, but not focusing on money is how you end up building a business that sells dollar bills for $0.90. A few "for fun" startups have blown up in the past (Instagram, Snapchat, YouTube), but the reason majority fail is lack of business plan for how to actually monetize what they are working on. I don't consider focus on sustainability for a business to be a bad thing, though if a VC handed me $10m to spend trying to buy users I won't say no.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#14

Post by mcdoug »

bdcravens wrote: post #4

Remember that Amazon is a 25 year-old company. Bezos quit his job, took funding from family, and has always run a low-margin business, always playing a long game.

If I quit my job a bunch of people will be very negatively impacted. I can switch jobs and I can work on stuff in my spare time, but I can't go to zero income. Unlike Bezos, my family doesn't have anything they can loan me.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#15

Post by mixmastamyk »

The age-old question. There's basically few ways you can do it if you are committed to keeping a job rather than starting a business.

1) Cut expenses significantly. (Conservative approach.) 2) Boost income, via new job search? (Riskier.) 3. Put the rest of the family to work somehow.

Either way, a lot of it has to do with luck or connections, they can't be discounted. If there were a formulaic way to do it other than grinding it out, folks would be doing it already.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#16

Post by gus_massa »

mcdoug wrote: post #12
momentmaker wrote: post #7

Since you mentioned crypto trading, might I suggest you take a deeper look at what fundamentally blockchain can accomplish via smart contract and then invest in project that will be powering it. One project I'd suggest you checking is Chainlink. Check out these reading and video: https://blog.goodaudience.com/chainlink-the-missing-piece-to... https://medium.com/@smartcontentpublication/accessing-all-bl... https://www…

Thanks. I'll look into it.

With cryptocoins trading you can earn money or loose money. Remember: "Never invest more than you can afford to lose."

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#17

Post by mcdoug »

mixmastamyk wrote: post #15

The age-old question. There's basically few ways you can do it if you are committed to keeping a job rather than starting a business. 1) Cut expenses significantly. (Conservative approach.) 2) Boost income, via new job search? (Riskier.) 3. Put the rest of the family to work somehow. Either way, a lot of it has to do with luck or connections, they can't be discounted. If there were a formulaic way to do it other than…

I have seen a lot of these threads over the years on HN. Most give your two options, with an occasional "read pg, do a startup" type advice thrown in. Things I have considered:

- Switching careers to work closer to where the money is. For example, working for a douchey hedge fund that can pay half a mil a year if things are going well.

- Putting together a pitch deck, flying out to CA and pitching it to every VC who will listen. I have a decent idea for a dating app that solves a lot of the problems with the current crop of dating apps. A VC paying my salary for a year while I develop something like that would work well for me.

- Networking my way up until I am rubbing elbows with the ultra rich and looking for opportunities to help them spend their money.

- Playing the lotto until I'm broke.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#18

Post by mcdoug »

gus_massa wrote: post #16
mcdoug wrote: post #12

Earlier quoted context omitted.

Thanks. I'll look into it.

With cryptocoins trading you can earn money or loose money. Remember: "Never invest more than you can afford to lose."

Yeah, that's the problem. I am happy to invest a couple of thousand bucks into something, and while crypto can have some very large returns at times, I'd have to hit something just right for it to grow 500-1000x. I am sitting on some Stellars and a few other cryptocurrencies but the amounts aren't large enough. Even if I double my investment, it'll pretty much allow me to pay a month's of rent or so, not retire. Gambling huge sums requires that you are already rich. That's where a 5% gain in a particular cryptocurrency nets meaningful results.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#19

Post by ahava_yeshua »

May I suggest something completely unorthodox? It seems to me that if one 'chases' money, money tends to escape their grasp. To that end, this is what works for me - give.

Giving changes your focus from self to others. Find a homeless man/woman and give them a meal, hope. Persist in giving and observe the change in affairs in your own life.

Re: Ask HN: Getting depressed about money. How do I make a meaningful amount “fast”?

#20

Post by joshribakoff »

mcdoug wrote: post #11
joenot443 wrote: post #6

Based off your description, I would say the most pragmatic way to secure a slice of that pie and retire early would be to take up the Leetcode grind. I was blessed to be in a position where I was able to spend nearly the entirety of my quarantine free time practicing Leetcode. Last week I signed an offer with an American FAANG level company and more than doubled my final TC. I realize this is a highly anecdotal, unus…

LeetCode looks like a bootcamp/school for software development. I don't feel like that's where my weakness lies. I am a productive software developer and am up to date on most of the latest tech. Teaching for something like that would probably be more my speed. Also, where I live there are no FAANG companies and relocation is not an option. I work from home and unless there is a local software company that is hiring,…

It’s not a school. You should be more humble. Go try to do a few “medium” problems and see if you’re still feeling like it is below your ego.
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