"Passive Income" is another way of saying that you don't work
Look, even Wikipedia admits it!
"I work very hard as a landlord" "I am a leech on society"Passive income is a type of unearned income that is acquired with little to no labor to earn or maintain.
Capitalists defending capitalism say it rewards hard work.
Capitalists giving financial advice say avoid labour, get passive income.
Their advice is always full of incongruous shit like that. "Capitalism rewards risk."
Like bros you made medicine a for profit industry where the real money is in the insurance side of things. Where is the risk. One day people are going to decide not to get sick? Fuck off.
The original capitalists also detested landlords and rent lol
markets ≠ capitalism
That’s a skill issue. My passive income is earned income that is acquired with little to no labor to earn or maintain because I take shits on company time, take long lunch breaks, and clock out from my phone when I get home
🎶 Boss makes a dollar, I make a dime, that's why I shit on company time. 🎶
Had a coworker complain he was "only" getting a 4% return on the condo he bought in another city that he pays someone else to manage for him. I just told him he deserved worse but didn't elaborate, because I am a lib.
I wish all the passive income pricks a very sudden and kinetic outcome
I don't work either tbh. Ofc, I also don't earn passive income.
Be lazy the right way kids!
owning things is not a job
I don't think that's a fair or accurate definition. If I programmed a paid piece of software*, or a paid API, that I don't intent to upgrade much, that's passive income, which is earned.
In this scenario you have made something and it is available for purchase. A landlord creates nothing and will not sell so that they can benefit from scarcity.
In this scenario you have made something and it is available for purchase. A landlord creates nothing and will not sell so that they can benefit from scarcity.
He's basically talking about the digital equivalent of "what if i built a saw mill and then got income from people using it." Just because he created something doesn't mean the income received after is not a form of rent seeking, it's profit derived solely through ownership of the thing that was made despite the labor that made it potentially having already been paid for multiple times over, and since all this income accrues passively with no labor input beyond the initial creation, it's passive income
Sure, but it's still passive income. Being a landlord is not the only way of having a passive income. And I'm criticizing the way it's defined.
Passive income is a type of unearned income
Serving APIs that anyone would pay for requires constant work and maintenance
You choose to ignore the key point of the comment. I also listed apps/games. Technically, I may choose not to maintain the API. It might not remain relevant or profitable for very long, but I can just ignore it.
Besides, being a landlord also requires constant maintenance. It's just that the income is arguably disproportionate to the work done.
I've seen some landlord tiktok where one minute they go "I love my passive income, look how relaxing and luxurious my life is
" and the next minute go "Don't you understand how much hard work it is to be a landlord!? "It's funny in general that whenever you say landlords are useless someone always says ”but they do X and Y, it's not just collecting the money every month”, but every finance bro pro tips for life article always has
”Invest in property, it's a good way to have passive income!” in it.They hold both these contradictory ideas in their heads simultaneously without any kind of introspection or synthesis.
Goes to any forum for landlords: "How can I avoid doing X and Y for my tenants?" "Is there any way I can force my tenants to do X and Y or pay for them?"
But what if they hire a management company
Landlord tiktok is only something I want to look at if I find myself not hating capitalism enough
It is truly one of the most infuriating and cursed things on the internet, and I've only seen it through youtube videos making fun of it