That's actually orthogonal to my point. Plenty of people have "lifestyle businesses", but if they generate true value, it's not a mystery as to where the money is coming from. Consult for 20 hours a week, just as an example, and I'm not even slightly mystified at how you can live on that income. I'm not advocating a suit-and-tie, 40hour/week desk job as the only alternative. Were I single I'd probably work half-time myself.
I'm talking more about the Amazon drop-shipping businesses where "you can earn $5K/week!!1!" where if it's really that easy the market should already have been consumed, or even the ones you just plain can't figure out where the money is coming from. There's a lot of "businesses" that work in a 0% interest environment that won't work in a 5+% environment. If you've been doing it since 2004, you are almost certainly not in such a space because you started in a non-0% interest environment.
I mean, basically, it's just like how the crypto business space is completely collapsing now. They are the first big things to topple over in a non-0%-environment. Smaller analogs to that can happen too, it just won't make the news that Joe-down-the-street's business of importing bulk cheap IP-pirated stuff from China and distributing it to local parents who want cheap Disney-branded stuff went out of business because it turns out that even though he didn't take loans himself, every other company involved in his business was offering subsidized, not-truly-sustainable prices because of the cheap money environment. (If you don't know, that's a real thing, not an outrageous fake example I'm making up. I have a particular acquaintance in mind who did that as a side hustle for a while.)
I'm talking more about the Amazon drop-shipping businesses where "you can earn $5K/week!!1!" where if it's really that easy the market should already have been consumed, or even the ones you just plain can't figure out where the money is coming from. There's a lot of "businesses" that work in a 0% interest environment that won't work in a 5+% environment. If you've been doing it since 2004, you are almost certainly not in such a space because you started in a non-0% interest environment.
I mean, basically, it's just like how the crypto business space is completely collapsing now. They are the first big things to topple over in a non-0%-environment. Smaller analogs to that can happen too, it just won't make the news that Joe-down-the-street's business of importing bulk cheap IP-pirated stuff from China and distributing it to local parents who want cheap Disney-branded stuff went out of business because it turns out that even though he didn't take loans himself, every other company involved in his business was offering subsidized, not-truly-sustainable prices because of the cheap money environment. (If you don't know, that's a real thing, not an outrageous fake example I'm making up. I have a particular acquaintance in mind who did that as a side hustle for a while.)