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RE: Why Aren't More Millenials Starting Side Hustles and Making Money Online?
Most people can't see into the unknown. They can't draw a link between them working a few hours and getting the money. I see that people can draw the link better with 1099 independent work like Uber, Lyft, Door Dash.....etc.
I agree what you said about the ride share stuff. It is just kicking the can down the road. It isn't that profitable. I think it is an ok if a person is going to pick up some extra cash in a pinch but not to sit there and do it for years on end like my friend in Cali is doing.
It's interesting what you said about 1099 workers. Some people argue whether that's truly an "entreprenuer" I personally don't really like to try to quantify who is and isn't an entrepreneur, however I was thinking about making a video about this subject, basically the idea being if someone else is setting up an opportunity for you to make money, you better believe they are going to be rewarded as much if not more so than you and sometimes its actually a scam to give you the illusion you can make money while in reality they are really the only ones making money, yeah I'm talking about you amazon.
Did you hear about Amazon's new program. you can start a delivery company and work for them delivering packages? They advertise you can make 300K per year. If you break down the math your probably going to make $37,000 your first year if everything goes perfectly. Oh yeah and they also want you to provide benefits and paid time off to employees while their employees piss in waterbottles because they don't have time to use the restroom. Gonna be making a post about that in the next day or so
In general I don't consider people on a 1099 a n entrepreneur myself. There are some rare exceptions to that because if someone has a consulting company they might have to get a 1099 from a client.
I hadn't heard the details on the Amazon delivery service but it doesn't surprise me. I would certainly like to see someone really do the math on Lyft and Uber. It is funny because my friend who bought a pretty new Ford Focus to do Lyft acts like he really likes it but like we have said. I don't think the math really works out. It is just kicking the can down the road and then suddenly the person is upside down on their car loan because they racked up insane miles. Also you are supposed to have additional insurance for that but a lot of people don't .