Funny old game, this passive income lark. I personally define it as income that you get regardless of what you are doing. The classic dream is steady income paid while you are lying on the beach. Wikipedia defines it in somewhat US-centric terms as
Passive income is an income received on a regular basis, with little effort required to maintain it
I spent a few days soaking up the sun in the atmosphere of Glastonbury, enjoying a chilled time and exploring the place.I came just before the well-known festival, to appreciate the summer solstice – the closest I have come to the festival was a distant view of it 7 miles from Glastonbury Tor.
Unlike the festival-goers I had decent weather. I was looking for some of the background story, bought some books, but I have a predilection for books in electronic form these days. Following up the Glastonbury connection, passive income is the Holy Grail of the idler, and there are an awful lot of Knights of the Round Table chasing it. It’s bad enough that people who have at least earned the money first behave like teenagers in love:
People looking for investment income home in on bad ideas like Premier League footballers sniffing out WAGs with loose morals.
Dunno what he’d say about the wretched river of humanity out of Eden seeking the Free Lunch without Consequences, but the old boy Mephistopheles is in business in different garb offering Passive Income to the penniless, the poor, and the pecuniarly challenged.
Sometimes I wonder if these good people would use their time better getting a job and saving some of their hard-earned, but then I think that any time I stand in line behind somebody buying a lottery ticket in the Co-Op. There is something irresistible about the concept of something for nothing. It’s been there since time immemorial in the search for the Philosopher’s Stone[ref]I am aware that there are many esoteric personal transformation aspects to the story of the search for Philosopher’s Stone, but it is the profane rather than sacred that fits my narrative :)[/ref] that turns lead into gold. The story metamorphosed into the search for the perpetual motion machine in the Victorian era, and turns full circle in the search for a passive income, that turns the leaden hours of the idle into a stream of gold. I’m hassling the Calvinist work is good for you doctrine there – I for one don’t find the workless hours leaden and indeed I would regard humanity’s development of robots to do all the work leaving us to a life of leisure the pinnacle of engineering success, if only we could build a human society that didn’t start to look like a winner-takes-all Gilded Age which seems to be where we are headed at the moment.
The ebook proposition – wresting the medium and the message away from Facebook. Into Amazon – oh boy…
One of the tragic things about the Internet is that the original open platform has been taken over by corporations like Facebook, Google and Amazon , who drove out the universality of the end-to-end principle because we readers are idle, want a uniformish UI, and are suckers for attention-grabbing trivia that the platform can monetise the shit out of. In Web 1.0 ISPs tried and failed to hold customers on their ‘portal’ to save you the graft of looking for interesting stuff, but now we hire Facebook and Google to do that very job. Once upon a time it was possible to get a copy of vi, grok some HTML, create a website with useful information, serve some ads and make a modest income. I still have some website real estates from the 1990s that even after 20 years do provide a modest income this way but the trend is long-term decline. Some of this is, of course, that the topics age – let’s face it what was newsworthy/interesting in 1995 is often less riveting twenty years later on, the effort to maintain some of these with other people dropped away around ten years ago. One of the sites performs a technical service which still seems to have some fans judging by the pleading to fix I get if my web hosts changes the version of PHP and it goes titsup, it seems to have got embedded into the processes of some communities. I even tell them they can get the facility easier and more prettily using OS getamap but they don’t switch[ref]correctly, it seems – I was there before getamap and may be there after it’s been deprecated[/ref]. It provides enough revenue to be worth Googling the error code and fixing the code or third-party library to keep people happy.
It’s harder to establish a modest website on a topic now – the Internet is much larger but there are also winner-takes-all effects that raise the barrier to entry, so it’s basically a go-large-or-go-home world. The Amazon ebook seems to be the place where some of the small fry information providers have gone to, if the topic is suited to a write once read many and non-interactive format. For many to many discussions we used to have forums (before that we had Usenet and email mailing lists, but the latter scale terribly), but with the demise of the medium-sized website vis-a-vis the big beasts many of these are dying out, moving to Facebook groups
I don’t regularly use Facebook, and it’s a source of sadness for me when a forum I’ve used goes down for some reason and the topic migrates to Facebook. Facebook fosters the narcissistic and the voluble, there seems no threading or fine topic capacity, and to be honest I’d rather read people’s thoughts on the topic rather than endless trivia about their children, pets and minor ailments. As the old forums die, the wall of noise increases. Life is too short to strip out the tales of lives of quiet desperation from a Facebook group topic feed[ref]Facebook is designed to narrate everyday trivia and that’s fine – but trivia seems to pollute group topics to a degree that it never did on forums and bulletin boards, these usually had a separate section like MSE’s Money Savers’s Arms off-topic section.[/ref]