Ask HN: How to Make 1M $?
With minimal initial funding (ex: $10k)
How would you go about making 1 million dollars in a year ? So you want 1,000% profit margin in a year? I assume you don't want to commit crimes. No day traders will ever say that's possible. Even wallstreetbets doesn't expect those returns. Fundraising with a sap story is a possibility. Otherwise, the only option I can see is entrepreneurship. $10k to buy some deepfryers or bbq and some food and get selling. Or $10 to get a website going to sell something. 10,000%. You can do it in minutes, in Las Vegas. Go to the roulette wheel, put all the money on [red/black]. Keep doubling down. Win 7 times (2^7=128). If there was a legal way to do this, wouldn't we all be doing it? > If there was a legal way to do this, wouldn't we all be doing it? Not necessarily. People are lazy / insecure / impatient / etc. The OP stipulates minimal capital but nothing about level of effort. There are near infinite paths to increase capital 100x, and many of those routes require extraordinary amounts of effort. Please enlighten us with your wisdom with just a few examples, since you know of infinite paths. > Please enlighten us with your wisdom Such rudeness doesn't deserve a reply, so consider this reply for the larger HN community. My original post was something like this > Offer a training on how to raise capital (2.5K course dev, 5K marketing, 2.5K admin maintenance). and then I changed course because there are nearly infinite paths to turn 10K into 1MM. Another example is to trade derivatives. There are other examples, but my point is not in the infinitude but that increasing capital is not as simple as having an idea. Most routes to increase capital significantly are labor and time intensive. The only one I can think of : https://twitter.com/sweatystartup/status/1405205780329078793... Maybe the OP is smarter than the rest of us. Find an exploit in some blockchain co, steal $10M+ and then negotiate with them for a 'consulting fee' of $1M and return the rest. Spot on. People are stealing enormous amounts of money in the cryptocurrency space. E.g.: https://web3isgoinggreat.com/ There are so many scams, grifts, and heists in this space that this is where I would turn if I wanted to MMF. At this point I almost feel like it's a moral obligation: the faster the bubble pops, the fewer people it will harm. Make a website with a 1000x1000 pixel grid and auction off each pixel in 24h time slots. Active owner of a pixel can set the color and link. is this the next level after NFTs? This is not the future; it is history. It happened in 2005: The Million Dollar Homepage
https://en.wikipedia.org/wiki/The_Million_Dollar_Homepage Wow that guy founded Calm App. This is the million dollar home page, more or less. this was an old project back in the mid 2000's where a guy made a webite with a million pixels and sold each pixel at 1 dollar, it soldout just in case you weren't aware, http://www.milliondollarhomepage.com/ I belive that L Ron Hubbard said it best. "Start a religion". If you want to be a millionaire, start with a billion dollars and launch a new airline. -Richard Branson "How to make a million dollars: First, get a million dollars.” – Steve Martin If this question is serious, then it's a terrible way to think. What is "making" a million dollars? Revenue? Profit? Are you just leveraging $10k into loans? Is it investment money? Are you starting a company? Any of those things should lead to a long-term strategy of growth, not to a random, big-sounding target dollar-amount. If this question is merely facetious, then the only appropriate answer is spend $10k on counterfeiting. The only sure-fire way to get 10,000% growth in a year is fraud. 100x return in 1 year is purely the domain of lotteries and scams. Even wildly successful investments or businesses still need 5-10 years to get these kinds of returns. Too much cynics here. And from people that MUST know better, to bot. You can do it this way: - Invest that in make some software. - That software sell very well. Software is likely the easiest to pull. Also: - Invest that in win a big contract to make software (for enterprise/goverment) - Use the down-payment to (hopefully, right?) deliver on it. --- I work in this space, but more in the SMALL sector of it, and the major complication is not money, is to get into the kind of people that pay that sums. I almost win something like this, but the pandemic kick and all dried... This is exactly what these podcasters are doing: Taking $10k and using every trick in the hedge fund playbook to turn it into $1 million (or zero!). https://twitter.com/hardmoneypod?ref_src=twsrc%5Egoogle%7Ctw... Hedge fund "playbooks" are actually pretty safe sometimes. If you have a hunch that's wrong, and you end up 10% down vs your colleagues, someone will give you a tap on the shoulder and have you escorted from the building. Potentially career ending. Definitely. And if you listen to the podcast, they are doing the things they would NEVER do in real life. Make an original game app that lots of people like playing and bonus if they spend money on it. Make a service that is just a conglomeration of other services under the hood, hire a ux designer to make it flashy and hip looking, charge monthly. Trade options with insider information. Invoice scam cash flush startups. Easy. Just make $84k per month. You'll get to 1 mil in about a year. Fairly risk-free way (well, compared to alternatives): invest $10K in interview prep, negotiation coaching etc. Get a FAANG job. Live frugally. In a few years you'll have your $1M. Find a bank offering a certificate of deposit with a 10,000% interest rate. Go to a roulette table, put it all on black. Repeat seven times. > Go to a roulette table, put it all on black. Repeat seven times. This was my thought initially, but then I remembered that casinos usually declare maximum bets. I'm not sure you can place $640,000 on black in one spin. for sure you can... they'd love to take that bet I’d probably try to copy what someone did in the show “Undercover Billionaire”. Though I’m not that talented so I’d fail. You would need skill, luck, and a strong work ethic. How would I go about it personally? I'd play poker online. 100x leveraged trading in just the right moment for just the right time :'D (JK) Start a VC fund. Raise a 100mil fund and pay yourself 2 percent. Become a viral politician What are your skillsets? Don’t cut corners Pay your taxes Call your mother Help a friend Be yourself Follow your passion Don’t eat rare meat Exercise You had me til you advised against rare meat. I've never agreed with yuppie_scum more. Crime.