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).

Power and Discussion

Where do Black people fit into the Occupy Wall Street Movement? Although most would like to approach the OWS movement with a colorblind view, it's not realistic. There are problems that the Black community has that other ethnic groups don't have. Given that fact, the black community has to find some medium to discuss those problems and brainstorm viable solutions to them. This can't be done within the arena of OWS, or can it? Where there are similar problems we work to solve them with groups affected the same way. Where there are exclusive problems, we deal with them as an exclusive group.

Generally, when black politics are brought up in a racially heterogeneous setting most of those concerns and claims, no matter how legitimate, will be vehemently attacked. If we identify problems and their causes, people say we're complaining. If we identify solutions to our specific problems, people say we are being racist, divisive, exclusionary, and the like. Both types of responses are generally used to beat around the bush of the race issues in economics, politics, and society in general as opposed to dealing with the issue as it is. At least that is the experience that many blacks currently, or at one point, within the OWS movement have observed. The same goes for many who have attempted to present a black social or political platform to a mainstream audience in any setting throughout history. There's no doubt that there are plenty of blacks present at the Occupy protests in various cities. But are any problems native to the Black community being addressed? The short answer would be "No". The long answer is more complex.

The issues being addressed by the Occupy movement have a large impact on the economic and political well-being of the United States as a whole. The solutions that will eventually arise from the movement will undoubtedly have an impact on the Black community, as it will on all communities. But the question is what type of impact will it have? Given the possibilities, we should maintain a strong presence at the protests, general assemblies, and political actions when they are carried out. But to be effective, we must also work to address problems that are specific to our own community. For too long, we have allowed laws in the US to be made ABOUT us and not for us. There is a difference. A law made about black people can have a positive or negative affect. Regardless, it has some degree an intended affect on the black community.

The best way to do that would be outside of the OWS arena, in exchange for one that is more hospitable to the subjects of Black self-actualization and self-determination. But that discussion shouldn’t stay outside of the OWS arena. To ensure the success and widespread acceptance of the solutions to the problems that Black people face, I think it would be most effective to hold 3 different discussions: (1) a discussion on the solutions to our own economic and political problems, (2) A discussion on the solutions to problems of mainstream America that affect our community, (3) A discussion for how we can take advantage of the OWS movement whether our own resolutions pass or fail , and finally (4) A discussion that would involve tailoring our arguments and agenda in such a way that we don’t have to mention “black”, “African”, “African American”, or “minority” that can be presented and discussed in the arena of OWS. The results of the OWS general assemblies and the success of the new resolutions should be recorded and brought back to the independent table of the black community, and the process repeated until the movement ends.

In the end, we should have developed an understanding that these resolutions would benefit us without exclusively mentioning so. These would give our communities leverage by which we could secure enough power to become independent and self-determined as a people. This is how the ruling class has done it for centuries. They only made laws and rules specifically mentioning whites after they had secured enough power to limit intervention. If we expect to survive in the current political and economic climate, we’ll have to learn to adapt and take advantage of the same method. All in all, it would be foolish for us to completely neglect the OWS movement, but also equally ignorant to ignore using the momentum to fuel our own. The Occupy The Hood  movement seems to be heading in that direction.