What are people NOT talking about anymore?

[therealmark]

Every business model on this thread was and still is a legit business model... aside from products like fidget spinners...

The truth is always the truth. The people who are dedicated to providing the most value and are willing to take the most risk and put in the most work will succeed. Everyone else will see the success event, call them lucky and blame their success on a fad that has now passed...

 

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[James Klymus]

Teespring + FB ads
SEO rental sites/Agency
Shopify dropshipping is still red hot and everybody and their dog did it (Including me)
CBD is one of those things thats gaining traction and i saw Chris Record (IM guru) selling basically an MLM offer, amongst others id probably imagine

But in all seriousness.. I think its important to mention that if you plan to start a business similar to the ones weve been bashing on in this thread, and you plan on innovating, offering value and solving your customers and clients problem, then go for it.

The reason why people bash these "businesses" is because for every 1 legit hustler who wants to do good and serve people, there are probably 50 people who just want a "side hustle" or to "make some quick cash" and dont give a shit about serving or innovation.

 

[AlexFS]

Indie games developers (Steam and mobile gaming) - do what you love and make tons of money. So many game development platforms, free game assets, proliferation of online courses. Tons of games released on steam and mobile. Very saturated and brutal market. In reality it takes years to learn game development process and programming, let alone do your own pixel art and music. And create tons of games and have vision to get a great game out. Then there's marketing your game. But it's popular because so many people love games and get inspired by playing well made games and get this idea, why not write my own game?

Create a passive income stream! Sure if you've already made a few millions. But by that time you'll probably won't be looking online for information on creating passive income.

Real estate investing. I think it's just popular because who doesn't think about buying property. Very accessible concept wise than say an online business.

Day trading crypto, stocks, forex. The whole work a few hours a day and travel where you want.

Van life. This is where you quit your job, modify a car or van in order to travel for very long period of time and live in your car while you travel in beautiful places (Alaska, Canada, South America)

 

[Runjie Chen]

OUCH!! This reminds me of a conversation I used to have with my parents where I justified not wanting to go to college because I was gonna build the next Billion(Not million) dollar app.
I had no problem to solve.

No clue about the real world.

Just that I wanted to build the next snapchat.

If only I could introduce that munchkin to the fastlaneforum.

Then what did you do at the end and how things have gone so far?


Enviado desde mi iPhone utilizando Tapatalk

 

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[The Abundant Man]

I feel things like Virtual and Augmented reality still are in baby phase. The technology is there but it has not been massively implemented.

I'm waiting for this to happen:

Though this already happened"

The US Navy and Air Force have laser weapons:

It's only a matter of time that we get lightsabers:

(THese actually aren't practical due to high heat and they'll cut anything and everything including yourself)

 

[BlackLynx]

Adult Coloring Books

 

[maverick]

Acai weightloss pills

 

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[Janeter1nADrum]

Yup.

 

[Ernman]

Authority Marketing only works if you have something important enough to say in the first place!

I would add that authority marketing can be dangerous in the wrong hands...or from the wrong mouth.

 

[Azure]

I just discovered something incredibly fascinating about that tech. Check this out: IBM-Backed Blockchain Platform to Improve Supply Chain Management in Mining Industry

Mining is one industry that has long relied on old style systems and procedure that is greatly embracing the transition towards advancement anand automation. The level of investment in this sector is massive and only going to increase from here. It will have waves throughout other industries as well as the tech development matures.

 

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[Consolation]

If I told them about SEO, they might think,'Why fight for online scraps when I can just grab six-figures from a good happy hour?' They are more deal-orientated

Took me a long time to comprehend your sentence. Correct! They are more deal-orientated. I once had a happy hour with my friends and there were extra paid drinks from the next table. Turned out a deal has just struck, and they are celebrating (and dealing too at the same time, of course).

 

[Ninjakid]

I rarely hear of someone trying to build the next billion dollar website anymore

 

[NandoJr]

Exactly, but when it takes off everybody will jump on it eventually. Especially when there are tools available that don't need technical knowledge.

It's like the internet in the early days. Most people didn't know what it was and couldn't care less. Others saw opportunities and started coding and learning protocols.
When it took off suddenly everybody wanted to start a website / business. By that time the smart early adopters had a big advantage in knowledge and could for fill different needs by delivering tools. Search engines, software, domain names registration, hosting etc.

Is it ok if i ask what IOT stands for?

 

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[NandoJr]

Can't believe it hasn't been mentioned yet...

fb ads/teespring!

See i heard someone talking bout teespring, but what surpsrises me about that is people trying to start clothing stores with random designs and claiming they "did all the work" and think theyre going to make so much cause the designs they got from google/instagram are "hip".

 

[Charnell]

Is it ok if i ask what IOT stands for?

Internet of Things.

 

[NandoJr]

Internet of Things.

ohhh ok, thanks!

 

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[GuestUser4aMPs1]

Gee, it feels like forever since this thread got a bump. What bad trends died out?

 

[Itizn]

does clubhouse count?

 

[WJK]

Each year, a new get rich quick scheme pops up and everyone starts talking about it like it's the only way to make any real money.

The easy money dries up, the market matures, the conversation dies, and then money-chasers jump onto the next get rich quick scheme.

So, as an exercise to help identify "gold rushes" of the past, in order to help identify similar phenomena of the future, I wanted to make this thread where we can point out what people are NOT talking about anymore. It doesn't necessarily mean that the market is dead, just means that it's not as easy money as people thought.

I'll start with the past:

Cryptocurrency

• I believe in the merits of the technology, but it's worthy noting that the conversation has been dead ever since the market cap plummeted months ago.
• If the market cap bounces back, prepare for another wave of money-chasers and countless threads on the front page.

Amazon FBA

• This used to be "the only way to make money" on many forums including this one
• I've lost count the number of times people asked me why I wasn't just selling on Amazon and that my business model of selling offline was stupid
• The market matured and now it's not as easy as before, so people aren't interested anymore; now you're competing against random guys in China happy to make $10,000 a year working full-time
• Conversation has shifted from "the easiest money you'll ever make" to "Amazon FBA is a scam" -- a 180 degree shift in stupidity

Amazon Publishing

• Similar to FBA, but conversation died a bit earlier
• When I joined this forum, this was the most talked about way of making money
• People that had nothing to do with writing suddenly started writing erotica and getting ecstatic about their newfound get rich quick scheme
• Market matured, Amazon made changes, the conversation died.

What else can you think of?

Disclaimer: I'm fully expecting a lot of hate for making this thread.

In my investment real estate world, the big "it" used to be to own highly leveraged properties using OPM (other people's money). I was doing debt reduction. They were taking out loans for every dime of possible equity so they could buy more residential rental units. They told me I was stupid. I didn't understand RE investing. And then came a moratorium on evictions...

Another get rich quick scheme was people who built Airbnb rental empires. They bet the farm. They bet their original rental units. They hired staffs and signed long term service contracts. They mortgaged their souls and maxed out their credit cards. And then Covid hit and everything stopped. Their reservations were cancelled. No one came or the guest's money was refunded. Airbnb did refunds upon request. The owner then owed Airbnb money against their future guests. All the while, their properties were sitting vacant and the normal expenses are still due.

 

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[pat9000]

Concerts due to COVID, ha but looking at ya'lls crypto predicitions from 2019 is entertaining. I bought some in 2019 and entered the space but I feel now it has really established itself.

Here is a blog from Mark Cuban about it:

blog maverick | the mark cuban weblog

blogmaverick.com

 

[Antifragile]

Everyone is talking NFTs right now. So I guess it’s the opposite of what this thread is all about, but eventually it’ll get hard and get dropped and belong here… so there!

 

[pat9000]

Everyone is talking NFTs right now. So I guess it’s the opposite of what this thread is all about, but eventually it’ll get hard and get dropped and belong here… so there!

I joined NBA Topshot when it first started - basketball NFTs - and it took me a while to get a pack. I finally landed a pack for $15 and sold the contents for $600 haha was a fun play.

Checkout AXIE infinity as they are one of the best places to get/trade NFTs

 

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[maverick]

Bill Cosby, Weinstein and Epstein.

 

[MJ DeMarco]

does clubhouse count?

Has that fizzled or something? I never jumped on that bandwagon.

 

[Itizn]

Has that fizzled or something? I never jumped on that bandwagon.

It appears that way. The only people I saw actively promoting it were top LinkedIn accounts (mostly as part of their sales funnel to sell their services/programs). But that shoe has clearly dropped.

 

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[WJK]

In my investment real estate world, the big "it" used to be to own highly leveraged properties using OPM (other people's money). I was doing debt reduction. They were taking out loans for every dime of possible equity so they could buy more residential rental units. They told me I was stupid. I didn't understand RE investing. And then came a moratorium on evictions...

Another get rich quick scheme was people who built Airbnb rental empires. They bet the farm. They bet their original rental units. They hired staffs and signed long term service contracts. They mortgaged their souls and maxed out their credit cards. And then C0VlD hit and everything stopped. Their reservations were cancelled. No one came or the guest's money was refunded. Airbnb did refunds upon request. The owner then owed Airbnb money against their future guests. All the while, their properties were sitting vacant and the normal expenses are still due.

I have two sleeping rooms that I rent out mostly to visiting worker in our area. Last summer a guy came for a month. Airbnb paid me for the month. He stayed for 2 days and then left. He asked Airbnb for a refund. They called me and I confirmed that he was gone. They refunded him almost his entire month's rental fee. Travel stopped with the virus. It took the entire last year to pay them back from the few that came and rented my rooms. Airbnb simply kept the money that they collected on my behalf. I argued with them to NO effect. The person making the decision in the situation was on their staff. They said because they called me when he left, that I had agreed to the refund. I don't remember agreeing, but I had no voice in the matter regardless.

That was one rental fee. For me it was just chump change. What if I had thousands of dollars worth of reservations, or months and months?????
What if I had a staff and long term contracts in place?
What if that income was my only one?