My Response to Gary Vee & “Passive Income is B******t”


– You want me to show you
the people on Instagram who go take all the money
they own in the world in $100 forms in the bank
and throw it on a bed and take a picture and then
put it back in their bank? I’ll show you that. I’ll show you the front of this passive income dream of the internet. Sorry. – So what you just saw is a small clip from a video in a podcast
from Gary Vaynerchuk titled Passive Income is BS. And when somebody who you
highly respect especially comes out with something like that and you have a website
named Smart Passive Income and are known in the
world of online business by helping people create passive income, you definitely pay attention and this is why I’m shooting this video. I wanted to reply, I
even saw Instagram posts and Twitter posts earlier
today, it said, “Shots fired! “Gary Vee calling out Pat Flynn.” Which number one, I just
wanna set the record straight, he didn’t mention my name
in this podcast episode or video at all and he
had even featured me in his recent book Crushing
It which I highly recommend you check out, especially page 241. So what’s my response? Now I recommend you watch the entire video ’cause it is really important to watch and if you look in the description below, you’ll see a link to Gary’s video there and you’ll see really
what this is all about. To sum it up, it’s about the idea that you can just essentially do nothing and make a ton of money. And I think we all know
that that’s not true. And I have talked about this
before in several videos, I have one called The
Truth About Passive Income where I talk about a lot
of the similar themes that Gary talks about in this video with maybe not as many explicitives. So what’s my response to Gary’s video and the thesis of his argument there? I think is 100% true. I mean I agree with him
100%, I mean, preach Gary! I love the fact that he’s
using his giant platform to reveal truth about what
passive income really is. And the reason why I started
smartpassiveincome.com was to actually get in
front of people before they were scammed or people
told him about this dream and this idea that you can make money with just the push of a button. That is absolutely not true. That’s why my podcasts says work hard now so you can reap the benefits later. And for people like Gary Vaynerchuk, the benefits are to pour more
money into his own business and work even harder
’cause that’s in his DNA. For me, reaping the benefits
is having the freedom and flexibility to spend more
time at home with my family. The kids are actually at
home today, sick from school and so I’m just kind of taking a little quick pause here
from playing with them to shoot this video in
response to Gary’s video here. – Millions of dollars in
passive income on the internet, smoking (bleep) weed in Jamaica while it just keeps coming in is just not as real as you think, partner! – Number one, there is actually some kind of passive income out there. For example, he gives the
example of real estate and also investing in startup
companies and things like that and hoping for a big payout. That is absolutely true. – I have passive income when I’m investing in early stage startups that then go sell for 400X
and I didn’t do anything. I made money. – Now I say that there
are a lot of other ways to generate passive income but again, there’s this sort of
connotation that passive income means easy income, that
is absolutely not true. If you write a book,
you can put it on Amazon just like Crushing It, just
like my book Will It Fly? And it can continue to provide
you some income over time but you gotta work for it,
you gotta market it, right? You can’t just publish it and
push and hope for the best. You gotta publish it and push
it out there into the market and get people to find you. You gotta build those relationships
with other influencers. You got to put the
marketing play into practice so you can actually get people to find it. So again, even after you make the thing that can help you generate passive income, you’re not gonna automatically
get passive income. Where passive income
eventually comes into play is when you eventually get to that point which like Gary says, it’s
not easy and it’s not common. It’s very uncommon. – But because all the
people that have tried to create systems and automate their cash, there’s been a very small
percentage of people that have been able to lay on the beach while they collect money on the internet. A lot of that stuff is
completely ludicrous. – You can eventually get to the point where you can remove
yourself from that business but have it still
continue to work and serve and solve problems which is
what all good businesses do. But that definitely
cannot happen overnight and it can take years. And a lot of people give up
before that opportunity happens. Actually passive income to me is the final step in the process. And most people try to jump to there, there’s even people asking
questions on Gary’s video about like okay, what’s the
next trend in passive income? How do I do passive income? You build real businesses,
you work your butt off first and then you can talk
about passive income maybe. You know a lot of people ask
me, Pat, how did you do it? How did you make all that money online? And you share it and you
just make it look so easy. Number one, it’s not easy. Number two, I try to work
harder than anybody else. So whatever niche you’re in, whatever business you’re creating, the way to win is to work
harder than anybody else. Then you get to talk about how
you can put a team behind it or software behind it to begin
to automate it a little bit. And that’s not always possible either. And by working harder,
I don’t necessarily mean by putting more hours into something. I think maybe if there is
some sort of disagreement between myself and Gary
and what he teaches it’s that the hustle
doesn’t necessarily mean put more hours into something,
it means working smarter. Sometimes you only have
so many hours in the day but what you do with those
hours really matters. So how are you optimizing that time? What are you working on? Is that what’s actually moving the needle or you’re just staying busy to stay busy? Working smarter, Smart
Passive Income, get it? So Gary, preach brother! Thank you so much for
posting that podcast episode and that video again, remember the links to the full episodes are below for all of you who are watching this and wanna get the full context of it. But just to reiterate, passive income, I feel like it does exist but the truth is it’s gonna be really hard and most people won’t be able to do it. But you can create a business of your own that will require a lot of work but can allow for a better lifestyle, one that doesn’t necessarily require you to trade your time one to one to money. You put in one hour, you
get one hour of work. What if you could put it one hour of work and get in 10 hours of payments later or the equivalent thereof? And something that can
continue to help build your audience, help build a business, that’s what I teach here. So if you’ve enjoyed this video and you wanna talk about this more, make sure you hit the subscribe button so you can get more videos coming your way to help you as you grow your presence and grow your business online and make sure you leave a comment below. I’d love to hear where you stand on this idea of passive income. I can tell you right now it’s not easy, do you even think it’s real? Nothing, I’ll tell you,
is 100% passive income unless you talk about residuals
from acting in a movie or something like that
or music and royalties but even passive income from real estate, that’s not necessarily passive ’cause you have to
manage those portfolios. Investments, you still have to keep up with what’s happening in the market. That’s not just something
you could sit back on the beach and you know whatever this means, I have no idea. So alright, thank you so much. I appreciate you, leave a comment below, I’d love to hear your thoughts
and thanks for being here. Team Flynn for the win.

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