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  • Okay.

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  • How's it going?

  • Think I'm getting all settled in here.

  • Welcome back to another episode of the tack.

  • Lied.

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  • Take lead.

  • Today I wanted to talk about passive income and about how I'm generating about $40,000 per year just on side income.

  • And this is income where I'm basically just not doing anything.

  • I'm just sitting around and each day.

  • I'm getting about low over $100 just for doing nothing.

  • Now, I wanted to talk about this video, not actually because I think it's important for software engineers to build additional side income streams.

  • I would say that even $40,000 per year isn't really going to be that meaningful necessarily, but, um, but I would say it's a very fun happy to have.

  • It can help you get deeper into South for engineering.

  • As you're building these side projects, it can help build up your resume.

  • And what I hope to do is tell you about the ways that I generate side income.

  • And I'm not really sure if all of these are going to be completely useful for you, because it may be difficult to replicate what I've done.

  • But it can help inspire you, maybe give you some ideas.

  • So for me, most of my side income comes from four projects that I'm doing now.

  • The 1st 1 is this photography software that I created is called panel APS 360 dot com.

  • Check it out.

  • It is for time lapse photographers, and this project is a very niche project that, um, I began when there was a big time lapse boom like there were time lapses all over YouTube and I was into time lapses as well, and people needed a way to add special effects to these time.

  • Lapse is to process the time life is, and there weren't many good time life software.

  • So I looked into it.

  • There was one software that was retailing for over $200 I thought, you know, that's really expensive and that I could build something better not the sulfur I built did two things.

  • The first thing it would do was I would allow you to add motion to your time lapses, using actually perspective, correct math and this involved really understanding the math behind lenses like a 24 millimeter camera.

  • What does that actually mean in terms of field of view and what's like 100 millimeter camera?

  • And this was very fun for me to learn and figure out and find the exact math behind it, and I also apply some of my computer graphic skills to get this going.

  • I built the cell for using Adobe Action Script, which is like flash technology.

  • That's pretty funny because action script is not a very popular language these days, but the great thing about it was it was cross platform across Windows and Apple, and I wanted to make sure that the software I wrote a target both platforms and they needed to be desktop software because I didn't want users to have to upload their photos just together processed, unlike some Web software.

  • So I've looked around for the appropriate technology for this, and I could have chosen either Java or Adobe Air Action script.

  • And I really wasn't keen on getting back into Java.

  • And it seemed to me that action script and flash technology could be something interesting is something that already been doing a bit of, um, I was able to just build out the software pretty quickly.

  • It took, like, two weeks or so to build out.

  • I know this at the time that a lot of Timelapse photographers were tried to add motion to their time lapses, using very expensive hardware rakes that would be based on timers, and it was slowly like rotate the head and I realized that you didn't really need these hardware timers and rotational motorized has to do all this stuff like you could do with on software using perspective, correction and just a bit of math and image distortion.

  • There was a very small niche message board community of time lapse photographers.

  • I was part of it, and I knew that if I built a software, I could just go there, announce it and everybody would see that message.

  • So that's exactly what I did.

  • And within the first day or two of me launching the software, I was already getting, like $500 every day in sales Over the years, I continue to build up features into the software.

  • Another big feature was allowing you to capture time lapses across sunset or sunrise when the scene exposure would change quickly.

  • And for this I would use math to calculate the exposure of a scene based on the Exposure triangle, which is based on aperture I, Esso and shutter speed.

  • And using these three pieces, you're able to calculate how bright a scene is and then interpret what Brendan is.

  • Each frame should be as the cameras changing exposure quickly to try to capture the scene.

  • I also added some other interesting features, like I had that support to do fish I time lapses, which is a very unique and strange effect.

  • And it literally took me like a month to work out the calculations for how they threw a fish eye protection and then build like fish.

  • I geometry into the program, so I'm not sure if this was that well received.

  • So I'm I don't know if it was a really good use of my time to spend the whole month building out this feature, but it was really fun for me to do at least, and I had to get into like, Ah GPU Shader is to actually do it.

  • So I had to teach myself that stuff and with the self or something that I'm still maintaining these days, I sell it for a pretty high price, about $80 apiece, and I think that's actually a very worthwhile price.

  • And also, I just think that the economics is the for desktop software.

  • You can just charge more, and I was pretty happy that I did not make this like iPhone app.

  • Where the standard is, every app needs to be like a dollar or $5.

  • Like like here's a nap time selling for $80.

  • But I still managed to make about one cell every day, and it also helped when I managed to translate the whole website into Japanese, and this self became quite popular in Japan as well.

  • So that's one side project.

  • There's another side project that I've been running for the past 10 years or so It's called human pets dot com is kind of, AH, social network, and this was very popular back in the day, like there were two million users and it was generating, like, $2000 every day or something for a while.

  • These days, the website has lost a lot of popularity from its heyday.

  • Um, it's still pushing out about, say, $100 per month, and the way it generates money is generally through memberships take off the issues, so I feel like I probably should be trudging more for membership.

  • I charge like $6 for a monthly membership, which is probably too low.

  • When you become a member, you gain a bunch of additional features and another great thing about this.

  • That ad that was that you could buy or give the memberships to other people so A lot of people would be doing that, because often people seem to tree others better than they may treat themselves.

  • I also run some ads sense on the site.

  • The ads don't really make much money.

  • It's like $60 a month.

  • But this eye has been operational for the past 10 years or so, and it's just been spilling additional income for me that whole time.

  • So that's great.

  • The third project was a set of iPhone games Web, RPG, APS, really, where people could just progress a character through a game and there would be levels a story line to push the player through many items to collect, monsters to fight, and you just click buttons and kind of move your character through.

  • I think the key to this was there was a story line that was just very engrossing for two player, and the other thing was, I had high limits for purchases like you could buy items that were like $20 in the game.

  • There's a statistic that 90% of your income will come from the top 10% of players in the game, and those players are considered the whales.

  • They're basically people who have either a lot of money or don't mind spending a lot of money on gaming.

  • Um and so I think that was one mistake I made with my first website, which was a limited so that you could only pay a maximum of about $6 per month for membership.

  • And after that it did.

  • Amanda, how much you loved the app or game.

  • Ah, it was kept at that amount.

  • And what I wish I did was add higher thresholds for spending.

  • Now.

  • The fourth project I did was very interesting, and this was actually photography.

  • And you can sell ah, stock photography or stock videos.

  • Now stuck photography doesn't pay very well because it's so cheap.

  • Like one father the most you could get.

  • It's like 25 cents or something like my bestselling further was a photo off the Brooklyn Bridge.

  • A New York just happens to sell very well because it's so iconic and this further so the about 50 100 copies and each copy was a dollar.

  • So me just standing there taking one shot what that was like a $1500 shot right there with video.

  • It's even better because each video you can sell for about $50 apiece or so.

  • Um, and these days I think people are looking really for four K video, like they need to be extremely high quality.

  • My videos that sold really well were videos of Japan.

  • There was actually the strain called Fushimi Inari in Kyoto with a bunch of red gates.

  • This was actually relatively unknown when I visited, and there were very few people.

  • But it's funny that now if you go there's tons of people and I think it's because I helped popularize it.

  • You know, I had this video has sold over 1000 copies of this video, and usually it's travel agencies that by these videos, and then they used these to try to sell the destination towards packages, and they take tourists there.

  • So it's kind of shame now that this place is not completely overrun with tours, and I probably helped contribute to that mess.

  • And then, um, I also did videos of ah, Iceland, the Ice Caves and Northern Lights, and each of these videos generally brought in like $1000.

  • So in the end, my photography work brother in about $20,000 over 45 years or so.

  • The other great thing about the photography work was I actually got sponsorships, so I was able to work with the selling company and they offered us a $10,000 catamarans and sailboats in exotic locations like the Bahamas or Puckett.

  • And we were able to just take the sailboats around.

  • And this was kind of unique because I knew how to sell.

  • And I'm a photographer.

  • So and so I was able to take weeklong selling vacations in exotic areas where the lodging and that boat would be free.

  • S O is pretty great.

  • We either thought together we're looking at about $3600 a month or 40 k a year.

  • And the great thing about side income like this business income is that you can actually deduct expenses on.

  • So if you buy a laptop, you can deduct against that.

  • Anything I buy that may have some business purpose would be like about 30% off or something like that.

  • Not one from the consequence of this is I don't actually do much get up open source contributions because a lot of would that work on.

  • I sell like I wanted to be commercial software, so I don't actually want to open source things.

  • So one time I had to recruit her.

  • Ask me like, Hey was your get up and I was like, I don't do open source.

  • You know, I actually make money from her projects and they're just like that.

  • Yeah, I would say, though, that another way.

  • I generate a lot of side income.

  • So they say is I just live with my parents.

  • That's saving me like at least $3000 per month on rent.

  • And the funny thing about this is you calculate the as post tax income, so it's equivalent to about four K per month in the income you might earn at the job.

  • That's like 48 K savings, right?

  • There's so I don't know what I'm gonna do with all this money.

  • I'm saving, but maybe I'll give it to my kids or something like that.

  • So the last damn one says, When I looked for a project, there's a few things I'm looking for.

  • So the first thing to look for its timing, like why now?

  • And everything I've done that has succeeded.

  • I think there was a reason that timing made sense like like they were certain trends and user behavior or technology that signified that it was that that moment that it would be right before some project to succeed.

  • The other thing is I look for things that are scalable, so running a restaurant, I think, is not very scalable.

  • It's, I think, what you're really looking for our scenarios, where you can affect farm or many people, and that's usually done through the Internet and then gets the last thing is using coding to automate thes systems such that you don't have to do anything, and then the system just automatically takes care of itself.

  • That's when it becomes really passive.

  • But, yeah, that's pretty much how I've been looking at generating inside income.

  • I think in the whole scheme of things, it's not much compared to, say, the salary that a software engineer is able to generate, But I think it's really fun.

  • Sometimes you're actually able to strike gold in certain areas and make a lot of other than that.

  • I think it just makes the hobby that much more interesting.

  • And overall, just push aircraft toe a higher level no matter what you're doing.

  • So there you have it.

  • I'll do it for me.

  • If you like the video, please give the like and subscribe.

Okay.

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B1 income software photography tack time lapse lapse

Passive Income: How I make $40,000/year doing nothing (software engineer edition)

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    林宜悉 posted on 2020/04/04
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