eBiz Weekly is a free newsletter packed with tips, insights and opportunities to build your online business. We send it out every Friday to 6,987 legendary subscribers. We also post the content of each email here on the website.
- Elon Musk, Donald Trump, and GPT-3
- Deepfake yourself for $$$
- Little Bets
- $1 Million Per Month Content Strategy
- $6k/month newsletter for black women
- Ryan Holiday’s best career advice
- Georgia’s sweet deal for remote workers
- $24,176 per month reselling on eBay
- Consistently not stupid
Elon Musk, Donald Trump, and GPT-3
GPT-3 is an open source machine learning model, and the newest tech magic everyone’s talking about 🤩
Elon Musk and Sam Altman are cofounders of the company that created it.
A quick description of GPT-3 from TNW:
GPT-3 can do what no other model can do (well): perform specific tasks without any special tuning. You can ask GPT-3 to be a translator, a programmer, a poet, or a famous author, and it can do it with its user (you) providing fewer than 10 training examples. Damn.
Some cool examples of it in action on that page, including someone asking GPT-3 to create a button the color of Donald Trump’s hair and getting back the HTML and CSS for exactly that.
Greg Raiz shows more impressive examples in this 9-minute YouTube video – check the Instagram clone built in seconds at the 1:15 mark – and says GPT-3 is “the largest leap in artificial intelligence that I’ve seen” and that it “makes Amazon Alexa, Google Assistant and Siri look like real child’s toys.”
Awesome, says you, but how is that going to help me make money online?
If you spent the next few days reading up about GPT-3, watching a bunch of videos, and playing with demos, you’d be more of an expert on the subject than 99.9% of people. And you could then sell your expertise as a freelance writer focused on that niche.
This is similar to what Zoë Biehl did with the crypto niche a couple of years back. As she told us in a recent interview:
I started looking for writing gigs. I decided to focus on the cryptocurrency/blockchain niche, as it was red hot at the time. I lied to my first client that I knew all about crypto and just learned on the go! Choosing to enter this niche was the best decision I made, and clients were contacting me constantly asking me to write for them.
Deepfake yourself for $$$
Speaking of artificial intelligence, Alethea.ai is described here as “an online marketplace for AI-generated characters where individuals can give permission for their image and voice to be used to make custom avatars and then get paid for it.” 💰
For example, you can book Alex Masmej – a bit of a legend in crypto circles, apparently – to say whatever you want up to 200 words. If Alex approves the request, the AI does the rest and he collects $99 (minus the marketplace fee, presumably).
Unclear if anyone’s actually booking these characters, but fascinating nonetheless.
More important than big actions or great ideas are what Peter Sims calls “little bets”
Little bets are concrete actions taken to discover, test, and develop ideas that are achievable and affordable.
Watch this 6-minute video to learn how creators like Chris Rock and Pixar use the concept of little bets to arrive at big wins 🥳
$1 Million Per Month Content Strategy
Sam Parr runs a daily email newsletter called The Hustle that apparently has over 1.5 million subscribers and does $1 million per month in revenue (source).
Back in 2018, Sam gave this 27-minute talk about the company’s content creation process.
It’s an excellent crash course in how to produce compelling content (or train others to do so). The article he uses as an example – this one – got 15k shares and almost 500k views in less than 2 years.
You can see my notes from the talk in this Google Doc. As I mention in there, Sam’s process is likely more effective for getting content seen and shared on social media than it is for getting ongoing SEO traffic. (You really need to be doing keyword research for the latter.)
$6k/month newsletter for black women
Sam Parr also has a podcast called My First Million. In a recent episode they mentioned a premium newsletter called Hinged Club that’s apparently only a few months old and is already earning $6k/month.
Now how can I describe the newsletter without using words that will trigger your spam filter? 🤔
At the risk of sounding like a complete prude, it’s basically a newsletter with naughty stories written for black women, with lead generation from naughty websites.
I skimmed through one of the stories and it seems to me that GPT-3 could write something similar in a few seconds 😂
(Hmm, that might be a business actually…)
Ryan Holiday’s best career advice
Ryan Holiday is only 33 years old and has already written a bunch of bestselling books and had some mighty impressive career success.
He recently wrote about “the canvas strategy,” calling it the best career advice he’s ever received.
It’s supposedly the same strategy that Bill Belichick 🏈 Leonardo da Vinci 🎨 and Benjamin Franklin 🇺🇸 used to great effect.
In brief, it involves…
attaching yourself to people and organizations who are already successful and subsuming your identity into theirs, moving both forward simultaneously. It’s certainly more glamorous to pursue your own glory — but hardly as effective. First, you need to learn and pay your dues.
This is something I wish I’d done more of starting out. I was far too eager to do my own thing instead of seeking out experts and mentors to work with and learn from.
Georgia’s sweet deal for remote workers
I’ve been in Tbilisi, Georgia 🇬🇪 since mid-March and loving it here, may even make it a long-term home base.
Aside from the cheap cost of living, all mod cons, spectacular nature, good food and friendly people, the country has also handled the COVID crisis very well. Life here has been pretty much back to normal the last few weeks, save for wearing face masks in stores and public transport.
Reason I’m telling you all this is because the government is launching a “special regime” to attract remote workers. Probably one of the best countries in the world to travel to right now if you work online.
$24,176 per month reselling on eBay
Ryan Roots reported in a July 2017 video that he and his wife earned $145,058 in six months ($24,176 per month) reselling stuff on eBay.
In a more recent video, Ryan doesn’t specify exactly how much they earned reselling on eBay but reports $185,881 in total revenue for Q1 2020 – works out to $61,960 per month – including more than $7k per month from ads on their YouTube channel.
I watched a bunch of Ryan’s videos yesterday and he seems like a good guy to learn from if you’re interested in building a resale business.
Consistently not stupid
Words from billionaire investor Charlie Munger:
“…it is in the nature of things that many hard problems are best solved when they are addressed backward”
With that in mind, instead of asking:
- How can I build a successful online business?
Apply the inversion principle and ask yourself:
- What’s stopping me from building a successful online business?
You’ll probably find that the success you seek can largely be achieved by getting out of your own way.
Or, as Munger put it:
“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”
That’ll do it for this week.
Was there anything above that you found particularly useful or interesting?
I aim to pack these emails with the best tips, insights and opportunities for building your online business. Your feedback helps me do that.
Also, feel free to forward this email to a friend, or you can direct them to the online version here: https://ebizfacts.com/ebiz-weekly-81/
In case you missed em, here are the last three editions of eBiz Weekly:
- #80 – 11 Ways to Make Money Playing Video Games
- #79 – 71 Passive Income Ideas
- #78 – A word of caution (re: affiliate marketing)
- Full archive
Until next week, rock on with your legendary self 💪
Niall Doherty – Tbilisi, Georgia
By the way...
How To Make Money Online
A deep article laying out all the possibilities for making money online, based on the 6 levels and 19 types of online business.
Check out our collection of the best tools and resources for building an online business. Web hosting, email marketing, productivity, top-rated courses, etc.
A massive list of FREE Udemy courses to help build your online business. We only list top-rated courses – minimum 50 ratings – and update every 24 hours.
Find A Remote Job
See our list of the best ways to find a remote job, based on 100+ hours of research and testing.
Start Earning Online
A free crash course to help you build an online business, consists of 11 videos shot in Spain, Russia and Montenegro.
Freedom Business Builder
FBB is a private community of online business builders. Our 300+ members range from people just starting their first online businesses, to experienced online entrepreneurs earning thousands of dollars each month.