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Posted by cratermoon 10/28/2024

Buy payphones and retire(computer.rip)
476 points | 352 commentspage 2
eigenvalue 10/28/2024|
You should basically always be very suspicious when someone is trying to sell you a way to earn very attractive returns without a lot of risk or without time and effort intensive management. There is a lot of capital out there in the world looking for a return. If the returns really were so attractive on a risk-adjusted basis, and you could deploy a fair amount of capital without building a large organization and incurring a bunch of fixed operating expenses, why wouldn't someone who is a proven successful operator in that field just raise more capital themselves and keep more of the profits?

Even when the propositions look plausible on the surface, there is usually some hidden gotcha that prevents it from being scalable. For example, the economics only work if you can find a really good location that meets a bunch of requirements, and there simply aren't that many of those "good" locations left. Or it turns out that it requires very intensive management to deal with broken equipment, theft, vandalism, etc.

cryptozeus 10/28/2024||
Slight off topic self rant: I tried this (dropshipping etc), went against all the good wisdom and rules of creating honest and passionate business. Failed miserably. Funny how brain works, I knew in 3 months that this is not honest, it feels spammy but then orders were coming in so I convinced myself that half the amazon products are doing the same thing. There is market for it then why should I not do this. This nagging voice in my head never went away and I paid for this later on. This matters when you have to work through night to get the marketing campaign out or you have double down the investment for certain product during holiday sale. Dealing with daily email of customers or tracking lost orders. I eventually lost energy and any sort of desire to grow my business. I was not making the kind of money I was promised by the field of dropshipping without adding way more money in spamy marketing and I had not passion to sell the product I Was selling. Certain folks who seems to be making 1m rev per year are also pivoting through spammy products every month and just dumping 100s and 1000s of dollars in facebook ads. It is more of a spammy marketing game then implementing any sort of creative or intellectual skillset. If anyone is thinking of doing this then I would encourage or first figure out how attached you are to money and the work you are doing. I was pulled into this because I thought I am smarter than rest and I can crack this because of my skills in technology and design so I dont to pay anyone to setup website, taxes, marketing etc however I missed out on how much soulless you have to be to run such a business. I dont mean soulless as a bad thing here, if you are robot or a you can setup a bot to do this then by all means try it but I just could not. This had a double impact on my life. Not only I failed to make money, wasted time but I also hate myself of even getting stuck into this. Lost my confidence and self respect which probably was unfounded anyway. Only thing I can tell myself is that hopefully this lifted some sort of delusion I had about myself and I learn and become better at life through this.
SoftTalker 10/28/2024||
The lesson here is that there really is no free lunch. There is no secret, no-work way to make lots of money. If anyone can do it, there's little value in it so you won't make much money.

If you have thousands of dollars to invest and want to do no work, just buy index funds.

WalterBright 10/28/2024|||
There are ways to make lots of money with no work and little investment. An example is buying lottery tickets.

The problem, though, is the risk goes up with the potential reward. Your chances of winning the lottery are indistinguishable from zero. But it's still there.

le-mark 10/29/2024||
Other ways are writing a hit song, advertising jingle, a bestselling novel, a top selling video game. Ways not to get rich; a “better c” language and compiler?
WalterBright 10/29/2024|||
Writing compilers is certainly not a probable path to getting rich. I do it for other reasons.
SoftTalker 10/29/2024|||
Those things sound like a lot of work to me. Perhaps enjoyable work, but work all the same.
cryptozeus 10/28/2024||||
Very true, I did exactly this.
le-mark 10/29/2024||
My investments during the Covid dip attest to this. There will always be another dip.
bdjsiqoocwk 10/29/2024||||
> there really is no free

> just buy index funds

Sounds like your contradicting yourself. Sounds like index funds are in fact a free lunch.

andai 10/29/2024||
You need free money first!
bemmu 10/29/2024|||
There may be some, but the people who find them have no incentive to tell others.
eastbound 10/28/2024||
Sorry for you losing your confidence over this. To be frank, the idea itself of creating a company is spammy.

I created my company, but I knew the market from inside (it wasn’t a public company so it wasn’t insider trading, but clearly I had unfair advantage at start). I’ve witnessed many people on the same market as I was, trying to find something to sell, and failing at it. Everyone here is told that they can do it and the good idea will arrive as they work, well, that is spam. Truth is there are enough businesses in the world.

It’s not exactly just luck. It’s also accurately knowing when you have a chance. I’ve also witnessed a dozen startups succeed in my area, to the point of about $50m revenue, so I could also have succeeded better.

But really, it wasn’t your skills or your confidence. It’s that you didn’t have a good edge at start, maybe your only flaw is not judging against your initial idea, early enough, and waiting for the next opportunity in your professional life. But your implementation skills are visibly excellent, so if you don’t feel like restarting on your own, go help someone and help him scale. You’ll be excellent at it.

cryptozeus 10/28/2024||
That is a great reframing! Thanks for saying this. This is what I am planing to do next, implement all these skills for meaningful business and help them grow.
jonatron 10/28/2024||
In London, we had I-Plus Kiosks, a long forgotten waste of money. http://news.bbc.co.uk/1/hi/technology/3058209.stm (2003) and http://news.bbc.co.uk/1/hi/sci/tech/1691434.stm (2001) . IIRC, the council thought it'd be a good use of taxpayer's money.
jbaczuk 10/28/2024||
I had a viceral "oh no, did I just install a virus" feeling when I visited that website, haha. I guess those memories die hard.
warner25 10/28/2024|
I wanted to share one of his pieces with a friend, so I sent the URL in a text message, and my friend (a network technician) responded with "Uh, is that link safe?" The title of the piece was "Free Public WiFi" which makes it look even more suspicious, haha... https://computer.rip/2023-07-29-Free-Public-WiFi.html
snarfy 10/29/2024||
In the mid 90's I knew a guy with a few soda machines. I recall him saying he would buy soda from Costco and made about 8-10k/yr from each machine. The machines were about 2k each. I think he had 4 machines for about 40k/yr passive revenue.
sWW26 10/29/2024|
How did the soda get from Costco to the machines, how was the cash collected? Might be low effort but don't think you can call it passive revenue.
LoveMortuus 10/30/2024||
I already know of dividends, but besides that and interest, I don't really know of many others.

Would love to hear some ideas for passive income that you have encountered and have experienced.

Hackbraten 10/28/2024||
> Ah, but people with turnkey, profitable businesses don't tend to sell them.

> Something is up.

Who would have thought?

onetokeoverthe 10/30/2024||
Place the vending machines/pay phones inside other locations...train stations, etc.
whatusername 10/29/2024||
Fun thing with payphones - at least in Australia -- Telstra is investing in upgrading them (at least the ones in the cities). They aren't very useful as phones - but they are incredibly well situated billboards that you can plaster ads on top of.

https://www.smh.com.au/national/nsw/first-came-the-giant-adv...

emmelaich 10/29/2024|
They also provide wifi -- https://fon.com/ marketed as Telstra Air.
bitwize 10/28/2024|
...Don't ask! https://youtube.com/watch?v=ITfQGEASYvU
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