Why do audiobooks cost as much as paperback books? Audiobooks are more costly than is immediately obvious to consumers. They are narrated by a processional voice actor, or the author, who had to sit down and read the entirety of the book. That individual would need to be compensated for their time. An audiobook takes considerably more time to produce than the actual audio time, often several times that length just to record the audio alone. The most efficient of voice actors or narrators will need to record at least two hours for each one hour of audio that makes it into final production. There will likely be several takes of certain lines, paragraphs, and section to get the audio just right. In addition to a narrator, you may also require a recording artis, a mixing artist, an editor, and a director. The publisher is going to be paying all of these costs. In the case of Audible and Kindle books, some also has to synchronous the audio reading with the e-book text. There are also pricing considerations. If the actual paperback book costs $15, you can’t price the electronic book for $10, because you will effectively be directing consumers towards the e-books instead and be losing paperback sales. The price points need to be essentially the same. There was a time when audiobooks were on CDs. Back then, the price of audio books was very expensive. These days you have an entire industry devoted to producing audiobooks with dedicated studios and professionals. Therefore, you don’t have multiple businesses like radio advertisements and musicians, competing for the same studio space. The audiobooks have their own dedicated recording spaces. Audiobooks can be treated as a way to expand the catalog by companies like Audible. A large volume of audiobooks keeps customers subscribing. The vast majority of books are unprofitable. A tiny minority are profitable enough to keep book companies afloat and subsidize the losses create by the majority of publications. A publisher is effectively lumping all formats together when considering a book. If one format, say print, earns more than the other format, say audiobook, then the former is effectively subsidize the latter. There is a common misconception that physical media, like paperback books, is much more expensive than digital productions like audiobooks from Audible. As with most goods, the vast majority of the cost is labor related. Just because a company is saving a couple dollars from not having to produce a physical copy of a book, does not mean that physical formats are less costly than digital formats. Chat GPT: Why do audiobooks cost as much as paperback books? Audiobooks often come with a price tag that might seem high to consumers. This is due to several factors that are not immediately apparent. Firstly, the narration of an audiobook requires the services of a professional voice actor or even the author themselves, who spend significant time reading the entire book aloud. Naturally, these individuals need to be compensated for their time and expertise. Furthermore, the production of an audiobook takes considerably more time than the actual audio duration itself. In fact, it often requires several times the length of the final audio to complete the recording process. Achieving the perfect audio for an audiobook involves multiple takes of lines, paragraphs, and sections to ensure high quality. Additionally, apart from the narrator, other professionals such as recording artists, mixing artists, editors, and directors may be involved in the production process. All of these costs are borne by the publisher. In the case of Audible and Kindle books, there is an added complexity of synchronizing the audio reading with the e-book text. Price considerations also play a role. If the price of a paperback book is $15, setting the price of the electronic book at $10 would inadvertently encourage consumers to choose the e-book format over the paperback, potentially leading to a decline in paperback sales. Therefore, price points for both formats need to be essentially the same. In the past, when audiobooks were distributed on CDs, their prices were notably high. However, today there is an entire industry dedicated to producing audiobooks, with dedicated studios and professionals. This means that audiobooks have their own dedicated recording spaces, separate from other businesses such as radio advertisements and musicians, reducing competition for studio availability. Audiobooks also serve as a means for companies like Audible to expand their catalog and retain customers. Offering a large selection of audiobooks keeps subscribers engaged and satisfied. It is important to note that the profitability of books, in general, is a challenging endeavor. The majority of books are not profitable, with only a small minority generating enough revenue to sustain publishing companies and offset the losses incurred by the majority of publications. When considering a book, publishers

Not all risk is good in the stock market The more risk you have, the more return you should get to compensate you for that risk. In investing, we use standard deviation to measure risk. It is a measure how much a stock price swings high and low compared to the average price. A low risk stock is more predictable and has less swings. Examples of low risk companies would include utility companies or consumer staples. A high risk stock is less predictable and be more volatile. Technology companies are higher risk stocks because future revenue is not as predictable given innovation and changing technology. Time horizon is the length of time you can part with your money before you need it again. The longer your time horizon, the longer you can stay invested. With a long time horizon, you can potentially wait out a dip in the stock market or an individual stock’s price. The shorter your time horizon, the less risk you can take. I recently did a video about young people putting a substantial amount of their portfolio into riskless or near riskless investments like treasury bills, high yield savings accounts, and CDs. The issue with this choice is that these people have long time horizons, and therefore they should be in more risky investments that offer more return. A risk premium is the return in excess of the risk free rate of return. At this point in time, the risk free rate of return is relatively high compared to the past decade when there was cheap money and low interest rates. There have been a number of article describing the stock market as unattractive given its returns versus the returns of risk free investments. Despite this, I believe young people still need exposure to the stock market. While inflation appears to be cooling off, it is still high and to have money in risk-free investments yielding 4% or 5% is just not going to cut it. When it comes to investing, Nobel price laureate Harry Markowitz said that diversification is the only free lunch in investing. Therefore, make sure you are being compensated for risks that you are taking in your investments. Diversification is an easy win to reduce risk. Not all risks proportionally compensate you. Just because you invest in risky investments does not mean you have the opportunity to earn a correspondingly high return to compensate you for taking on that risk. So make sure you are being smart with your investments and considering the risks you are taking, and that you are being appropriately compensated for those risks. Tags: investing, investing for beginners, stock market investing, dividend investing, real estate investing, investing 101, value investing, investing tips, investing advice, passive investing, investing explained, passive income investing, investing in the stock market, stock investing for beginners, how to get started with investing, etf investing, reit investing, stock market investing for beginners, stocks, stock market, stocks to buy, tech stocks, stocks to buy now, stock market news, best stocks to buy now, stock, growth stocks, stocks to watch, stock market for beginners, best stocks to buy, best growth stocks, stock picks, stock market today, finance stock, tmf stock price, stock analysis, growth stocks 2023, stock moe patreon, best stocks, how to invest in stocks

40% of Americans have side gigs Side gigs have become a necessity for many of us, even the high earners. Younger workers are more likely to have one than older workers. The average side hustle pays $810 a month but 28% of them only make $1 to $50 monthly. 42% of low income people earning less than $50,000 in their household said they needed a side gig to pay for daily expenses. 40% of adults in America have a side job. Side gigs are up 13% over the past two years. About a third of people said they need a side gig to afford regular living expenses versus 27% that said it helps with discretionary spending. 25% are using the money for savings. 12% are using it to pay off debt. 53% of Gen Zers have a side gig. 50% of millennials have a side gig. 40% if Gen Xs have a side gig. 24% of baby boomers have a side gig Works Cited: https://finance.yahoo.com/news/america-failed-millennials-badly-turning-181417881.html Tags: side hustle ideas, side hustle, side gigs, side hustles, best side hustles, side hustles for extra money, side gigs online, side hustles 2023, side gig, side gigs from home, side hustle ideas 2023, side gigs for college students, easy side hustles, side gigs 2020, best side hustles 2023, online side gigs, side hustle gigs, popular side gigs, best side gigs 2023, side hustles for teenagers, gigs, retirement side gigs

What will happen if interest rates fall below 3% or 4%? The most prominent thing would be that everyone with an interest rate of 5% or greater would refinance. However, any decrease in interest rates will be the result of Quantitative Easing. QE would the response of the government to try and stimulate the economy. Many people are eagerly waiting for a housing market crash that will give them the opportunity to purchase real estate at bargain prices. A housing crash is almost always in tantum with a wider economic recession. The issue people ignore is what they will do for income if there is an economic recession. Rooting for disaster is based on the false pretense that you will be left unscathed and fully able to liquidate your savings to purchase a house. What job will be left untouched by an economic catastrophe? A popular rebuttal to this argument is that unemployment was only about 10% during 2008 which suggests only 1 in 10 people were impacted by the recession. However, I would argue the majority of people were negatively impacted, especially people in cyclical and discretionary industries like construction, entertainment, dining, and retail. It is likely that the people that can’t afford a house now would be the most impacted by any sort of economic turbulence. Tags: mortgage rates, mortgage interest rates, mortgage rates 2023, mortgage rates today, best mortgage rates, interest rates, mortgage rates forecast, mortgage rates forecast 2023, mortgage, , mortgage rates rise, mortgage rates jump, mortgages, mortgage rates explained, mortgage interest rates today, mortgage rates predictions 2023, mortgage guidelines, high mortgage rates, mortgage rates 2024, interest rates, mortgage interest rates, mortgage rates, high interest rates, raise interest rates, rising interest rates, interest rate hike, interest rates latest news, interest rate, us interest rates, fd interest rates, fed interest rates, latest news, cuts interest rates, interest rates news, interest rate rise, interest rates on hold, rates, what are interest rates, federal interest rates, interest rates mortgage, interest rates no change, interest rate rises