August 10, 2018

How much runway would $1,000 / month give you to work on a side project?

Chatting with another IH member, I shared an idea of mixing patreon, affiliate sales, kickstarter into an app that would create a shared startup ecosystem equivalent to something like YC.

Any thoughts or feedback on the idea? What already exists that's like this?

  1. 3

    depends where you are... In SF, about 3 days.

    1. 1

      LOL -- That's for sure. ( and I am in SF )

  2. 2

    Answering the question. IMHO, not much (at least for someone who's living in AU/US/CA and have a family). I would personally consider to quit my job (AU) and re-channel 60%/40% time to side projects/freelance just after securing 4000$/m (and ideally not from VCs).

    1. 1

      That makes sense.

  3. 1

    I had a similar idea where you have about 2-10 people contribute 10-15 hours and/or $50-250/mo to a project with like 3-6 mo commitment.

    After which time things are re-evaluated and people can choose to be paid out, stay involved or become passive.

    There would have to be some formal process to manage decisions, so it doesn't converge on chaos.

    I think it would be much more productive and interesting than launching a side project on my own.

    People would have to be open to not working on "their idea" potentially. But, most of us do that at their job anyway.

  4. 1

    For me, it would cover 100% of my rent and food for like 3days. But could move somewhere cheaper and probably live comfortably almost forever.

    1. 1

      Where might you move?

      1. 1

        Well, I'm quite used to living very frugal, I lived on about $1100 USD for a very long time in a mid-sized city in Sweden. But if I'd had to go back to live on 1000 USD right now I would probably move to Asia if I knew it was temporarily and just to get started on something.

  5. 1

    Lifetime. Over here in Vadodara, Gujarat, India.

  6. 1

    In my country, you can live in a condo comfortably with $1000 / month