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Ask HN: What is your strategy for significant passive income in 2021?

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Re: Ask HN: What is your strategy for significant passive income in 2021?

#11

Post by sigmaprimus »

wikibob wrote: post #7
sigmaprimus wrote: post #3

I am seriously considering getting back into premium web design and management for the restaurant industry. The lockdowns have been brutal on the restaurant market but just as after a forest fire, new plants appear that are no longer shaded, the same explosive growth potential is there for new restaurant startups. A few hundred bucks a year contract for a simple menu website and domain name, with future service poten…

The best restaurant website is a single page. Literally, one page. Address and phone number at the top. Days of the week and hours. Link to a PDF of the actual exact print menu. Link to their online ordering option of choice. Done.

Exactly, there really isn't much to it, but not everyone is as technicaly inclined as the average HN reader.

You would think most restaurants would just do it themselves but my experience is that many of them don't want the hassle.

It does involve in person cold calling but the researching of potential customers is easy(new restaurants without websites) and as far as not paying, I did run into that but it happened after the 1st year and all work and expenses for the first year are covered by the initial sale.

I think it is more of a sales job and many people lack the confidence(or ego) for cold calling but I know it can create a significant passive income as lots of restaurants do keep paying year after year(especially if you are the domain name owner)

Re: Ask HN: What is your strategy for significant passive income in 2021?

#13

Post by rulambo »

I don't think there is any "passive" income in YouTube or creating something. Passive income flow is owning for example 20% of a farm which pays you out a share of their income every year.

This being said, don't make it complicated. The last 10 years, putting your savings into FAANG was enough, and the next 10? Well, I am 3 years in BTC and it paid me well (2019: +60%, 2020: +350%, 2021: +80%).

Watch 5 minutes of this (timestamped) https://youtu.be/ld8SBflZR7o?t=1033

And read this: https://twitter.com/RaoulGMI/status/1369038305187270658

Don't read Twitter, HackerNews or any other social media site regarding finance. Or at least, follow 1-2 people who know what they are saying. Stay otherwise away and make money.

Re: Ask HN: What is your strategy for significant passive income in 2021?

#14

Post by akudha »

rulambo wrote: post #13

I don't think there is any "passive" income in YouTube or creating something. Passive income flow is owning for example 20% of a farm which pays you out a share of their income every year. This being said, don't make it complicated. The last 10 years, putting your savings into FAANG was enough, and the next 10? Well, I am 3 years in BTC and it paid me well (2019: +60%, 2020: +350%, 2021: +80%). Watch 5 minutes of thi…

Is it too late to get into BTC?

Re: Ask HN: What is your strategy for significant passive income in 2021?

#15

Post by rulambo »

akudha wrote: post #14
rulambo wrote: post #13

I don't think there is any "passive" income in YouTube or creating something. Passive income flow is owning for example 20% of a farm which pays you out a share of their income every year. This being said, don't make it complicated. The last 10 years, putting your savings into FAANG was enough, and the next 10? Well, I am 3 years in BTC and it paid me well (2019: +60%, 2020: +350%, 2021: +80%). Watch 5 minutes of thi…

Is it too late to get into BTC?

Have you taken your time and watched 5 minutes of the linked YouTube video?

HedgeFunds are just starting to get into BTC. The price is still to low for them to allocate even 1% of their capital to it. When the price hits around 500k, then it is starting to get interesting. So, no. It's not.

Re: Ask HN: What is your strategy for significant passive income in 2021?

#17

Post by csomar »

akudha wrote: post #14
rulambo wrote: post #13

I don't think there is any "passive" income in YouTube or creating something. Passive income flow is owning for example 20% of a farm which pays you out a share of their income every year. This being said, don't make it complicated. The last 10 years, putting your savings into FAANG was enough, and the next 10? Well, I am 3 years in BTC and it paid me well (2019: +60%, 2020: +350%, 2021: +80%). Watch 5 minutes of thi…

Is it too late to get into BTC?

It's definitively late if you are expecting the x100 returns, and significantly perilous now since prices have risen a lot recently.

Re: Ask HN: What is your strategy for significant passive income in 2021?

#18

Post by dbrereton »

akudha wrote: post #14
rulambo wrote: post #13

I don't think there is any "passive" income in YouTube or creating something. Passive income flow is owning for example 20% of a farm which pays you out a share of their income every year. This being said, don't make it complicated. The last 10 years, putting your savings into FAANG was enough, and the next 10? Well, I am 3 years in BTC and it paid me well (2019: +60%, 2020: +350%, 2021: +80%). Watch 5 minutes of thi…

Is it too late to get into BTC?

Anyone answering this question for you is probably biased in either direction. You should do your own reading and decide for yourself.

Here's a good article from 2018 that gives an argument on the bullish side: https://vijayboyapati.medium.com/the-bullish-case-for-bitcoi..., and here's a more bearish view: https://crypto-anonymous-2021.medium.com/the-bit-short-insid....

Re: Ask HN: What is your strategy for significant passive income in 2021?

#19

Post by dbrereton »

Jugurtha wrote: post #6

Tangential to this: I started uploading videos to YouTube recently. I was amazed by the fact some trivial things are not possible. For example: I uploaded videos to my account, and then wanted to transfer the videos to another account. This is not possible. I have to download the already uploaded videos, then upload them again to the new account. Second: in the Contents view of Studio, there's no way to know if the v…

Is this problem actually solvable? As in, does YouTube expose an API for doing the things you're talking about? If not, then there's really not much anyone can do about it.

Re: Ask HN: What is your strategy for significant passive income in 2021?

#20

Post by Jugurtha »

dbrereton wrote: post #19
Jugurtha wrote: post #6

Tangential to this: I started uploading videos to YouTube recently. I was amazed by the fact some trivial things are not possible. For example: I uploaded videos to my account, and then wanted to transfer the videos to another account. This is not possible. I have to download the already uploaded videos, then upload them again to the new account. Second: in the Contents view of Studio, there's no way to know if the v…

Is this problem actually solvable? As in, does YouTube expose an API for doing the things you're talking about? If not, then there's really not much anyone can do about it.

>Is this problem actually solvable? As in, does YouTube expose an API for doing the things you're talking about?

https://developers.google.com/youtube/v3

The description from the above link:

With the YouTube Data API, you can add a variety of YouTube features to your application. Use the API to upload videos, manage playlists and subscriptions, update channel settings, and more.

>If not, then there's really not much anyone can do about it.

If their API is unusable, then follow the steps in the documentation, only let a computer do it. Use OAuth to authenticate with the service, access user's content that may be public, private, or unlisted.

On a user operation, say move videos from one account to the other, in the backend: download the videos to temporary files using a third party tool that I will not mention here, then upload them to the new account.

If you want to skimp, mount the user's Google Drive account to store the videos temporarily (as a buffer), and then from their Google Drive to their YouTube account. This way you don't pay for storage and are scalable right off the bat. Then build everything on top of Google App Engine : D Except you'll have a harder time doing the mount operations if you're on GAE, I suppose.

So you only receive requests, mount Google Drives, download videos there, then the videos to the user's account/channel.

Yes, you could eventually use something "in-memory", but if you have a lof of requests, you'll have to account for that RAM, hence using the user's Google Drive account.

Again, I'm thinking of this off the top of my head, but I think it checks out.

The user only has to select the videos from the source, and choose a destination, click OK, done. Go for coffee or something, instead of downloading them and good luck for people with crappy internet to do that. Future versions may enable you to do CRUD on the videos on a usable interface, not like the Studio thing. Display accounts and channels and playlists like folders and move videos around like you'd do on a file explorer, etc.

I may do that once to transfer my videos.

Your bio is "Serial Side Project Maker"... :P

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