Quote:
Originally Posted by Hell Puppy
How many people have we seen pass thru this board who were making anywhere from mid-6 figures on up and netted a couple of million or more back in the day? And now they're scrambling for a few bucks to pay their Party Poker tab.
The industry moves a ton of cash but creates very little wealth. Lots of sports cars, big mortgages, bling and every vice celebrated to success. But so few actually create any true net worth for themselves. The money stops, they're broke.
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Many of the people I have met in the more than 10 years I have been doing this are financial Mr Magoos. They can't see even the end of their noses, let alone past them. Make $50,000, buy a $100,000 car and hope like fuck you make enough to pay for it. Guys living in houses they couldn't afford, driving leased cars they can't even afford an oil change for anymore... many of them back flipping burgers or worse.
A few people (even some that post here) have ridden the waves up and down, diversified, managed expenses, expanded when things were good and turned turtle when things are headed down, and have come out the end with some cash, some retained value, and the potential to move on to something else if and when this circus folds it's tent. Most people don't have enough cash on hand for a couple of months, let alone year(s).
This summer has proven it more than ever, as soon as things got even a little lean, literally hundreds of people disappeared overnight, domains stopped working, hosting got dropped, and domains go un-renewed. These are people who didn't even have enough money on hand to get over the "summer slowdown" let alone anything else.
More left for the rest of us, which at this point is 100% diametrically opposed to the help the newbie mentality we all have 10 years ago.