Nick Maggiulli proposes a framework for deciding when it is safe to transition from a full-time job to a side business.
Assertion Supported
Maggiulli: Blogging CPMs are 4x higher than YouTube and top other platforms
“If you look at like, you know, per thousand views, what gets paid the most, it's actually bloggers. It's not even close. It's like four X more than YouTube. It's more, it's much more than TikTok and much more than Twitter.”
Assertion Supported
Maggiulli: Kahneman-Killingsworth research showed $75k plateau applies to unhappiness, not happiness
“Kahneman got with Killingsworth. They went through all the data, and they basically found that the original paper was, the measure wasn't as precise, and so they were actually measuring unhappiness, and so above 75,000 dollars a year, you can't prevent unhappi…”
Insight
Maggiulli: Money increases happiness only for the poor or already happy
“If you're happy, more money will make you happier. If you're poor, more money is likely to make you happier. If you're not poor or you're not happy, more money is not going to do a thing.”
Insight
Maggiulli: Tech founders holding US equities double down on startup risk
“If you have a tech startup, and like, tech is mostly the US economy now, you're kind of, if you own US stocks, you're kind of doubling down on your, what you're already doing, which is your income, right? So I actually could make an argument for why you might …”
Insight
Maggiulli: Reaching a $10M+ net worth requires entrepreneurship, not just passive investing
“People that are like, Hey, I want to get to a major exit. I want to go to ten million plus, et cetera. Just Keep Buying is not going to get them there either. They're going to have to become an entrepreneur, etc.”
Insight
Maggiulli: Dividing net worth by 10,000 shows conservative daily wealth generation
“Take your net worth, divide by 10,000. And that is how much your wealth is conservatively generating each day. .1%. You do that over 365 days. That's about 3.7% a year. I think it's a very conservative return.”