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The "Passive Income" trap ate a generation of entrepreneurs

joanwestenberg.com

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Re: The "Passive Income" trap ate a generation of entrepreneurs

#31

Post by pc86 »

valiant55 wrote: post #29
coredog64 wrote: post #9

Earlier quoted context omitted.

"Rent seeking" has a specific definition* and it is not "I use large capital investments to generate regular payments". Buying housing with the intent of renting it is not rent seeking. This is Wikipedia, which is as good as most other definitions: Rent-seeking is the act of growing one's existing wealth by manipulating public policy or economic conditions without creating new wealth

In what way does buying a property and renting it create wealth? Isn't buying a property with the intent to rent it manipulation of economic conditions?

If you think buying a house and renting it out "manipulates economic conditions" you need to prove it because that's a claim, especially with regard to "manipulate."

Re: The "Passive Income" trap ate a generation of entrepreneurs

#32

Post by ghaff »

zem wrote: post #28
hannahstrawbrry wrote: post #8

"It was an ouroboros that had incorporated in Delaware and was running Facebook ads," is my favorite line I've seen in a minute, great read

my favourite bit was 8 Free to do what? Sit on a beach, apparently. Every single one of these people wanted to sit on a beach. I've never understood this. Have they been to a beach? There's sand. It gets everywhere. You can sit there for maybe three hours before you want to do literally anything else. 8 I laughed out loud when I read it, because it's so true.

I “retired” about a year ago. Back to actively doing some tech industry analyst stuff with some folks I know. Keeps me as busy as I care to be.

Re: The "Passive Income" trap ate a generation of entrepreneurs

#33

Post by b00ty4breakfast »

paulpauper wrote: post #16

Isn't passive income a cornerstone of of the Rich Dad Poor Dad Books? This long predates 2020. I would say selling masks and only being $800 in the hole is a lot better than starting a "regular business" and down $80k-800k.

I've been hearing about "passive income" for at least the last 10 years, and I reckon it goes back further than that.

Re: The "Passive Income" trap ate a generation of entrepreneurs

#34

Post by butterlettuce »

coredog64 wrote: post #9
yoyohello13 wrote: post #2

[flagged]

"Rent seeking" has a specific definition* and it is not "I use large capital investments to generate regular payments". Buying housing with the intent of renting it is not rent seeking. This is Wikipedia, which is as good as most other definitions: Rent-seeking is the act of growing one's existing wealth by manipulating public policy or economic conditions without creating new wealth

[flagged]

Re: The "Passive Income" trap ate a generation of entrepreneurs

#36

Post by paulddraper »

zem wrote: post #28
hannahstrawbrry wrote: post #8

"It was an ouroboros that had incorporated in Delaware and was running Facebook ads," is my favorite line I've seen in a minute, great read

my favourite bit was 8 Free to do what? Sit on a beach, apparently. Every single one of these people wanted to sit on a beach. I've never understood this. Have they been to a beach? There's sand. It gets everywhere. You can sit there for maybe three hours before you want to do literally anything else. 8 I laughed out loud when I read it, because it's so true.

I love the beach.

Living near the beach is nice.

You can sit on it, walk on it, swim on it, surf on it, run on it, fish on it.

Better than a cement sidewalk, IMO.

Re: The "Passive Income" trap ate a generation of entrepreneurs

#37

Post by michaelchisari »

zem wrote: post #28
hannahstrawbrry wrote: post #8

"It was an ouroboros that had incorporated in Delaware and was running Facebook ads," is my favorite line I've seen in a minute, great read

my favourite bit was 8 Free to do what? Sit on a beach, apparently. Every single one of these people wanted to sit on a beach. I've never understood this. Have they been to a beach? There's sand. It gets everywhere. You can sit there for maybe three hours before you want to do literally anything else. 8 I laughed out loud when I read it, because it's so true.

Nature is wonderful because it will relax and center oneself while making it clear why we created civilization.

Re: The "Passive Income" trap ate a generation of entrepreneurs

#39

Post by TremendousJudge »

qurren wrote: post #10

> Free to do what? Sit on a beach, apparently. Quite the opposite for me. I'd like to have freedom to work on things I want to work on without "paying rent", "paying medical bills", or "short term profitability" being a constraint.

yeah, but the guys selling the courses were/are all obsessed with being at the beach

Re: The "Passive Income" trap ate a generation of entrepreneurs

#40

Post by jeffbee »

butterlettuce wrote: post #34
coredog64 wrote: post #9

Earlier quoted context omitted.

"Rent seeking" has a specific definition* and it is not "I use large capital investments to generate regular payments". Buying housing with the intent of renting it is not rent seeking. This is Wikipedia, which is as good as most other definitions: Rent-seeking is the act of growing one's existing wealth by manipulating public policy or economic conditions without creating new wealth

[flagged]

Why? There are loads of people who can afford to rent a house but can't afford to rent a million dollars. I genuinely cannot understand where this hatred of people who rent out houses comes from.
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