JA Westenberg5d ago

The passive income movement was a fantasy about not having to give a shit. This is a terrible foundation for pretty much anything.

https://www.joanwestenberg.com/the-passive-income-trap-ate-a-generation-of-entrepreneurs/

The "Passive Income" trap ate a generation of entrepreneurs

I had coffee last year with a guy - I won't use his real name - who told me he was "building a business." I asked what it did. Dropshipping jade face rollers. I made him say it twice. Jade face rollers. He'd found them on Alibaba for $1.20

Westenberg.
Show threadInterpipes 💙

@Daojoan of course the only “real” passive income business is to have a large pile of money and assets like a certain class of all too common landlord that nearly everyone has rented from, but that requires too much capital “to step into”, so of course they started grasping at ways they too could get away with giving no shits.

I have no idea why you would want this either. As you observe; my entire business is successful on giving a shit so that we are invited back.

Apr 3 at 9:35amWeb
Show threadTim 🛥️🌈5d ago
@interpipes @Daojoan
I came to mention landlords too, as if flipping property or extracting crushing rents is passive. Only if you don't care about the property, or the tenants.
Show threadInterpipes 💙4d ago
@spodlife @Daojoan my view on this is that the largest sector of landlords are those who believe they have outsourced caring to a rental / management agency of some kind who too often do not actually work in the landlords’ best interests and the landlord then thinks they can stop paying attention