7Wannabe5 wrote: ↑Wed Feb 14, 2024 11:18 am
However, I would agree that the trend towards work-from-home has somewhat obliterated the largest carrot offered by FI.
In my social circle of millenial/gen z mostly yuppie peers, this is the biggest factor that stops them from having any interest in FIRE. I'd imagine if MMM lived his younger working years through the 2020-present WFH era rather than Great Recession and aftermath, then he would've never written his blog. He would've had all the time in the world to collect his fat paycheck while biking around, spending 2-3 hours a day making elaborate gourmet meals, fixing up his house with DIY projects, etc. I have numerous friends who basically live a semi-ERE lifestyle while still collecting a full time paycheck and benefits. It's all the pros of semi-ERE with almost none of the downsides. Want to play disc golf on a Tuesday afternoon with friends? Easy, just finish your work the day before or in the morning so you'll be free. Not feeling like working for the Man today? Just call in sick; many companies have virtually limitless sick day policies. Weather looking good for skiing in the mountains or surfing at the beach? As long as there is an internet connection where you're crashing, you can knock out whatever work you need. At some point the pendulum will probably swing back, but as long as the economy runs hot then labor has all the power.
In regards to all of the discussions about social media and how the internet has changed, I'd largely agree. I am someone who spent virtually no time on social media until about a year ago, but now I spend quite a bit since I make YouTube videos. Blogs/articles/websites are basically dead. Nowadays, it's all about pushing your content on the big platforms and building a following there.
AxelHeyst wrote: ↑Wed Feb 14, 2024 2:08 pm
Phrased positively, WFH and being a youtuber can't (or often can't) provide the Freedom To Have Yourself To Yourself, spend days and weeks reading quietly, not updating social and being plugged in, etc. FIRE/ERE can.
We might be getting an increase in burnt out refugees from wfh and creator economy soon. I wonder.
I think the creator economy burnout is real. In fact, you can see it happen all the time to even the most popular creators. Even among the top 1% success stories, there are very few creators that can last more than 5 years or so. I theorize that the creators with longevity are ones that can outsource the activities that are the worst parts of the lifestyle. This is essentially what other public figures do with a spokesperson, publicist, PR firm, etc. Of course, content creation is a rockstar business, so almost no one will achieve that level of success. I think content creators sometimes feel like they become a slave to their audience, but in my mind this is not that different than artists/authors/musicians in previous eras. The difference is that nowadays you can put your creation into the world and receive immediate direct feedback from hundreds/thousands/millions of people at the same time in a way you couldn't before. The human brain can't process that.
In my personal experience, I've already tried to figure out ways I could automate/outsource the parts I don't enjoy doing, but at this time my revenue isn't high enough to justify that. Content creation actually isn't terrible; what's terrible is having to 24/7 interact with the world about your content to remain relevant. I'd like to be able to just follow a normal schedule where I film a video, edit it at this time (mostly automated), set it scheduled to post at this time, and then be done with it. In an ideal world, I could just respond to all my comments in a ~30 minute period each day and then never look at those platforms the rest of the day, but the immediacy of content creation means that the first 24-48 hours of a release are critical to success. More comments means more engagement means more clicks means more money. The job is called content creator but really a lot of it is just being a social media manager. I do believe X/Twitter is the most toxic social media platform for mental health because it just algorithmically aligns people with tribes and then shows them the most triggering/outrageous content because that's what engages the brain. My Twitter is strictly related to my content creation and even I still see posts that the algorithm feeds me to try to suck me into the viral outrage of the day.
For most people, having to spend days and weeks reading quietly sounds like a punishment. That sort of thing only appeals to bookish introverts; a number that I vibe is steadily decreasing as many people choose to consume a TV show, movie, video game, etc instead of a book. Also keep in mind that when we are referring to anyone age 30 and under, they can't really remember a world without social media. So doing things in meatspace just for the sake of doing them is a foreign concept to many. But there is also another issue: that kind of thing doesn't look very appealing in video/picture form. That means it's hard to sell the idea on internet 3.0 which is all about visual content. I also believe we reached peak "travel is amazing" content saturation around 2022, which was another big carrot that brought people to FIRE.