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
Amazon FBA
Amazon Publishing
What else can you think of?
Disclaimer: I'm fully expecting a lot of hate for making this thread.
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.
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