The vinyl industry is booming

GM. This is Work "After" Work, the newsletter that brings you side hustles so hot you'll be leaving your job in style.

Here's how we're starting the week:

• 🎵 Vinyl resurgence

• 📈 Million dollar bitcoin bet

• 😂 Meme of the day

VINYL IS BACK BABY!

Here’s three crazy stats about vinyl:

• In 2021 vinyl revenue grew 61% reaching $1 billion for the first time since the 1980s

• Harry styles sold an all-time high 146,000 copies with his new album topping Taylor Swift's Red (Taylor’s Version), which had the record at 114,000 copies

• 2020 was the first year Vinyl ever beat CD sales

All this to say that Vinyl is back. So much so, even some of the largest vinyl producers in the world are backlogged until 2030.

The industry is set to almost triple in the next 7 years. So how can you take advantage of this huge resurgence?

Besides buying a $200k machine and running a vinyl factory that will produce extremely low margins, here’s 3 better options:

1. Custom turntables

Vinyl is popular because it's old-school and unique. Make the turntable it’s spinning on no different.

Take a page from Wrensilva's book who makes $1.2M a year building beautiful custom wooden turntables.

Or try Etsy. This seller has made $6k this past month selling a pretty simple design.

2. Turntable coasters & wall art

It's not only the turntables themselves, but the creative ways to use vinyl.

This seller makes about $945 a week off these turntable coasters and has collectively done over $30k in sales.

Get creative. Even this $6 retro wall art has sold 71 copies this past month - that's $430/mo!

3. Vinyl storage

All the vinyl lovers out there need somewhere to put their records. Keep it simple and sleek like these storage tables, which have both done $10k this past month (left, right)

Etsy can be a jungle at times to navigate so if you’d like me to do a deep dive on how to get big on the platform that garners 450M visits a month, lmk!

And there ya have it. 3 ways to take advantage of this exploding vinyl trend.

If you need me, I’ll be in my dad’s attic dusting off those old vinyl to start my record store! 😎

BITCOIN TO 1M?

Last week, Balaji, the former CTO of Coinbase and successful entrepreneur bet two people on Twitter, one million dollars each that bitcoin would hit $1M in the next 90 days. For reference, it's currently around $28,000.

Why did he make this bet?In his words, "That's also the only reason I'm doing this: to alert innocent Americans and dollar holders in the style of Paul Revere that the printing is coming"

The printing he's referring to is the Central Bank printing trillions of dollars until the dollar itself becomes worth less and less. It might seem far-fetched but many countries like Argentina already experience hyperinflation with their currency.

My take: this won't happen in 90 days. I do think it will eventually though. For me, it's more a question of "How soon will it happen?"

MEME OF THE DAY

😂😂

That's all I got for ya today folks!

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.