Money on the Net: A Revisit

"Wealth is a persons ability to survive so many number of days forward - or, if I stopped working today, how long could I survive?"
- R. Buckminster Fuller

One night I was glued to the computer with a few drinks and cigarettes, a calculator, and 10 or more internet tabs open with everything from online gigs for pocket change, investopedia and marketwatch for investment knowledge, my bank account for moving cash, and my girlfriend screaming for me to go to bed... No matter how much sleep I may lose on those binges, preparing for the day I leave my job(whether fired, laid off, quitting, retirement, or death) is what makes each start of the work week, and work day more bearable....

 This independent study has turned into a weekly, if not almost daily habit. This month I decided to give up smoking and drinking to see how much money I could save and invest in other areas. I was recently studying the book Rich Dad Poor Dad by Robert T. Kiyosaki and although I have already been implementing a few of the asset-building activities the author mentions, I welcomed the new perspective on financial literacy concepts. One of the most important is the distinction between an asset and a liability.

Asset = money made whether I work or not

Liability = money spent whether I work or not

So with this new knowledge, we will add on a previous post discussing the opportunities for making money online. Except for number 1, the methods in this list will deal with the idea of generating "passive income" through assets.

1. MTurk

Mturk.com is a website powered by Amazon where workers can search for Human Intelligence Tasks("hits") which are posted by other users. The tasks can be as easy as copying text from a business card and taking surveys, to more advanced hits such as transcribing video and audio recordings. The payment for hits can range depending on how complex or time consuming the HIT is. The hard part is reviewing the gigs that make the most sense to perform, and match your working style and interests. You won't get rich, or even replace your current paycheck, but you can make some extra pocket change.

2. Stocks

When you buy stocks, you own a piece of that company. To raise money, companies will often sell partial ownership of the company as a stock in exchange for money. The company uses this money to grow its current business, or fund new ideas and opportunities.

When dealing with the stock market there are a number of ways to make money. The 2 main methods are sales profits and dividends. How you invest depends on your style and financial goals.

Dividends = Money the company pays you for owning the stock.

Dividends are for long term income and saving money for retirement, children's college funds, and other long term events. Dividends are paid out over time - usually every quarter(3 months). Regardless of what the stock's price is, as long as the company is in business, you get paid.


Gains = Money you make after selling the stock for a profit.

  Trading stocks for gains you get the money as soon as the deal is made. You can either reinvest the money on a different stock, or you can keep the cash. There is also more risk here because the value of the stock can cause you to lose money just as easy as it can make money.

3. CD's and Bonds

Certificates of Deposit(CD's) and Bonds are both like a friend giving you an "IOU", but you invest in them for different reason. A CD is bought through your bank, it's another way of saving your money. The bank holds your CD for anywhere from 3 mo to 5 years, depending on how long you agreed they could hold it. When the time is up, the bank pays you interest on the money you let them borrow. This is giving the bank a short term loan.

 Bonds are similar to CDs and work pretty much the same way. The difference is bonds can be bought through a company or a bank. It is a long term loan, usually for 10 years or more. But bonds also normally have a higher interest rate, so more money is made when the bank or company pays you back. 

4. Mutual Funds

Mutual Funds combine stocks, bonds, and CDs with other form of investment into one package. The money for these investments comes from groups of investors pooling their money together. Mutual funds are managed by a broker, who handles what to invest the money in, how long, and when. As an investor you buy a share(or part) of the mutual fund. Whenever the fund makes money, through dividends, gains, or interest, that money is paid out to the owners of the fund in dividends. As the value of the funds investments grow, the price of shares for that fund grows too. You can also sell your shares in that fund for cash.

If you don't feel comfortable researching individual companies, or watching the market for the best deals on stocks, bonds, and CDs, a mutual fund is a convenient investment opportunity. But they are also riskier. Just because you have a broker handling the funds for you, doesn't mean they can't make mistakes.

For those who have experience in the investment field, it works like a game to them - no different than going to the casino. The same way you can hit it big and make a lot of money, you can lose it just as fast. It doesn't take a lot of money to get started, all you need is a bank account. I had only $50 in my account when I bought my first stock. By doing your research and taking educated risks, you can make investments work for you, and make money, while managing it all from your computer.

The Black Silicon Valley

Ironically, I was listening to this song earlier in the day. Then heard Black In America was on.

I thought it was pretty good. As a people, we consume more technology than we produce. And with those working to create their own start-ups being in the NewMe Accelerator program, they already know what trying to break into the industry will be like. The telltale part of the show was when the Indian guy was telling them he had to use a white guy just to get his idea accepted into Silicon Valley. It shows us what the obstacles are and what level we'll have to be on to get known, for those of us in looking to get into the tech industry. But of course, the only way to recieve the best treatment and do business on our own terms is if we have our own cultur/economic centers, a Black Silicon Valley, similar to the Black Wallstreet we've had in the past.

I was in school for computer science... haven't finished the degree yet as I started working full time in anticipation of becoming a father. But I also saw that most of the people they featured on the show never graduated, and actually stopped at the same level that I did. Shows me, and hopefully others in my position that there's still more to struggle for than just getting a job. Takes self-education and motivation though. I've actually got quite a few ideas for software, games, and possible phone apps. Haven't been in school since the Spring semester of 2011, but I've still been trying to pick up where I left off and teach myself what I need to know about these programming languages to make them a reality.

A lot of times people in the conscious community get carried away with the "Matrix" talk and forget, or purposefully ignore, the fact that there are a lot of people who claim to be conscious but are out of touch with the average person that has to work a 9-5 or has dire financial problems that need to be solved.

 I'm not saying that independence shouldn't be or is not the main goal. But it takes money to start and run a nation, and money and skills to start a business. And you have to start small before you can move up to a city-wide, nation-wide or global clientele - all depends on what you're trying to do but the possibilities are endless. Build up clientele through your reputation and so on. I understand all that full well.

On an economically competitive level, we have to have some kind of training or skill development self-taught or otherwise. Nobody's going to do business with a doctor (holistic or not), a computer technician, carpenter, a teacher, etc.. with no training or certification. And if he/she fucks up while performing their job, they can't say "well there's nothing you can do cuz im not a citizen of the country(or a Sovereign Citizen) so the law doesn't apply to me" and not expect an ass whoopin(LOL).

I don't just sit on my ass waiting on someone to give me a hand out. I (1) use long ass facebook comments/conversations like these to write blog posts(http://blackmindsdev.blogspot.com/

), I recently started doing gigs on Fiverr.com, and since i'm not in school right now I've been teaching myself C++ and Python so I can actually create some of the software ideas I've come up with over the years.  There's money on the internet, and technology is and will be one of the many ways that black people will become competitive in the global economy, but unless you have a large following then you're just paying dues and scratching up money where you can. And I'm (2) looking for decent paying jobs that will a) help me develop my skills so i can run my own business, b) have a financial cushion for when I'm not getting much clientele, and c) have some start-up money (primitive capital) to be able to afford more books to further develop my skills and buy better equipment. Until then I've learned how to make do with freeware. Before I buy something I see if there is an equivalent free version. If there isn't then I try to get it cheap, or just do without. It's called survival and anybody with common sense would say that I'm not going to sit on the computer all day and not figure out how to use it to make money - applying for jobs or otherwise. There's more than one way to get up, get out, and get something.

(Updated 6/22/13) I have also attained the COMPtia A+ Certification, and I am currently studying to get the Network+ and Security+ certifications. The ultimate goal is to turn my knowledge and skills in computer repair and maintenance from a side hustle to an independent business. So once things pick up and when I get out my situation I can go back to the youth on the street in the same situation I came out of and say "I was in the same situation and this is one way to get out of it." But to do that you have to be in tune with the masses of the people, specifically the youth, because they're the main ones who need to be reached. They're the ones who make up the statistics that conscious people rant and rave over but preach to the choir (other conscious people) about, or teach the congregation (the masses) shit that goes over their heads or does nothing to solve their immediate, every-day, real life problems. If you're out of touch with those people, then no matter how you dress up your presentation they're either not going to listen, or they're going to give you more credit and power than you deserve which is no good for them. And that's the shit that I'm saying needs to stop.

Starting a nation and all that is good, like I've said before doing business and living under traditional African principles is a great goal. BUT focusing on starting a nation and developing our own laws and currency and all that is jumping the gun when the people you're supposed to be reaching can't or don't know how to pay their bills and fight dictators and corrupt politicians in the country they're living in now. And unless there are safeguards in place that the masses of the people know how to utilize, then those same masses that exist today on the bottom rung of society will exist in that future nation. They will be the worker ants of that new nation without a pot to piss in while they put money in the pockets of a new dictator with a black face. Denouncing your citizenship to where you don't have to pay taxes to America or any other European nation is all good and well but you have to have another nation to go to and a means of getting there or creating it (and PROTECTING it).

Money On the Net: Tips for Surviving the Recession

    Since the internet became a common platform for communication, it has given many the opportunity to take control of their finances that may not have existed otherwise. Whether it is through online stores, blogs, advertising, or performing jobs remotely, if you are willing to put in the time and effort you can find a method to make money, and a website to do the job. There is opportunity to make any amount from small change, to a regular paycheck, to setting yourself on a road to riches. As long as you have access to a computer and the internet, you are capable of making money.

   The down side to doing business on the internet is that there are millions, if not billions of people providing the same services, writing, developing web sites, and applying for the same job/contract that it usually takes a large effort of scraping and scratching to make a decent paycheck online. But still, in order to make money, you have to get in where you fit in and draw the traffic/business with your own style of getting things done.

   Some of the sites that I would suggest to make money online (aside from blogging) include fiverr and craigslist. oDesk is another option, but for those working in the West, it is hard to compete with some of the rates that workers in the east are willing to perform a job for. Getting a job on either oDesk, or fiverr takes a lot of work, but once you build up a reputation in these online working communities, you will be well on your way to making money on your own. You will not get rich right away, but you can definitely earn some gas/lunch money while you work your way up to a decent pay check.

   Learning to make money online is one of the ways that the Black community and others in the working class will be able to bridge the "digital divide". It is important that we take advantage of opportunities and create opportunities for ourselves, especially in these times. It would do us a lot of justice if we focused more on becoming producers in the internet/technology arena more than consumers. We create the trends that the world over follows, yet we don't profit from any of it.

BlackMind (Game) Development

The first step in creating any kind of video game or phone app is a game design document (GDD). For the bigtime game companies the GDD is usually 30+ pages typed. Right now I'm brainstorming and developing a design for a game. No development team, sponsors, or partners yet, and still working at the dead end day job. There's about 15 pages etched out in a notebook, I haven't started typing it yet. It's still a ways to go with the GDD before development starts, but when I'm done I'll have enough plans to make a text-based(that means no animation) or graphic computer game or phone app. Can't afford to make a console game yet, you need to buy a license from the manufacturer. I'm new to the business of game development, but I'm going to keep news of my progress in the business, on the game I'm working on, and information I learn along the way here for others to use. Beginning C++ Through Game Programming is one of the books that got me started.

Another site that's good for references is Sloperama.
For more info on game development companies in your area you can also go to the International Game Developers Association's web site.