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7 Great Money-Making Strategies For 2023

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7 Great Money-Making Strategies For 2023

Are you ready to level up your entrepreneurial journey and learn how to make 500 a day? Many people dream of this amount of income coming into their lives because, for many, it means that they’ve achieved financial freedom from their day jobs.

While it may seem intimidating at first, with a bit of effort and know-how, it is possible to make this amount and eventually earn it passively.

So let’s dig into 7 different ways to hit this aspirational number. It will take hard work and dedication, but the rewards can be life-changing.

How to Make 500 a Day

These 7 money-making options below will provide you with the best path for reaching 500 a day. Choose one that speaks to your current skill set or is in an industry you’re curious about.

1. Work As an Influencer

You’ve likely heard of influencers or may even follow a few of them yourself. While it may seem like a fantasy for you to earn money this way, plenty of different influencers out there make a great living.

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Even one influencer gig can total $500, much more if you have a strong and engaged audience.

Here are a few different types of influencers out there:

  • Celebrity Influencers: These people are recognized in their field and are regularly contacted to promote products, programs, and initiatives. This may include musicians, actors, authors, or athletes.
  • Macro-Influencers: A macro-influencer is famous because of their influence, but not necessarily because of a career or talent. Those who fall into this category have large followings on social media and can be paid for sponsored posts.
  • Micro-Influencers: These influencers may not have millions of followers but are still influential in their small niche. They usually have between 10,000 to 50,000 followers and focus on a very specific niche or demographic.
  • Brand Ambassadors: Brand ambassadors often share honest and authentic experiences with their audiences after getting free products for review. This is a great way to enter the influencing world and build up your social media following, which can lead to additional offers.

The key to working as an influencer is to regularly reach out to brands and create relationships with them. Make sure to showcase your influence on your social media platforms to attract the right kind of attention.

2. Become a Freelance Writer

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Almost every business on the planet needs content. Words are one of the main ways we connect on the internet, and there’s no shortage of writing jobs available for those trying to figure out how to make 500 a day.

There are plenty of different angles you could approach when getting started as a writer, including:

  • Blogging
  • Editing
  • Technical or medical writing
  • Journalism
  • Grant writing
  • Creative writing
  • Scriptwriting
  • Copywriting
  • Email writing

There are plenty of freelance writing jobs for beginners for those without any experience. These jobs will teach you how to work with clients and can get you published examples to show to future clients.

However, many beginner writing gigs won’t pay enough to earn 500 a day, so you’ll want to grow your portfolio and reach out to higher-paying writing jobs. You can do this by steadily increasing your rate and making time to reach out to larger companies with letters of introduction and pitches.

Tip: Wondering how to make 500 a day with freelance writing opportunities? Offer your clients additional services such as SEO research and optimization, content audits, and creating content calendars.

3. Monetize a High Traffic Website

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A website is a major asset in the digital age, and there are many ways to earn money once you’ve directed traffic to it. To start monetizing a high-traffic website to make 500, you must have at least 10,000 visitors a month.

While many people still find success with less traffic, this is a good goal if you’re just getting started.

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You can monetize your website by:

  • Selling digital products
  • Selling affiliate products
  • Accepting sponsorships from businesses or bloggers
  • Creating a site membership
  • Promoting products through email marketing
  • Placing ads on a website
  • Earning a commission through affiliate offers

Many people begin monetizing their sites with affiliate marketing offers. The Affiliate Lab program offers all-inclusive training for new affiliates, and it’s a great way to start learning how to make money with your website.

4. Start a Service-Based Arbitrage Business

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Many people have figured out how to make 500 a day by offering high-ticket services such as graphic design, web development, coding, and other digital trades. But even if you don’t know how to do these things yourself, you can still get in on the action.

Service arbitrage is when you take a service from one provider, usually at a lower price, and offer it to another client at a higher rate.

This gives you the opportunity to make money without having any of the skills yourself. You act as a middleman between two parties who need something you can provide.

The best part about this model is that it is scalable since you’re not doing the actual work yourself. Instead, your focus is keeping things organized, offering exceptional customer service, and ensuring the final product is delivered on time.

5. Rent Out Space In Your Home

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For those who don’t have much time to earn more money but have an unused property available, renting out a space in your home is one of the best hustle ideas for increasing your income to 500.

Even a small property, such as a spare bedroom or a plot of land someone can camp on, can add up to serious earnings.

There are two primary types of renting you have available:

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  • Long-term renting: With long-term renting, a tenant signs a lease and pays a set amount each month. This option is great for those who need a stable income and don’t want to deal with the hassle of finding new tenants every few months.
  • Short-term renting: Short-term rentals are often done through services like Airbnb, VRBO, or HomeAway. With this option, you can charge a higher rate and often make more money. However, it can be harder to find tenants, as they usually only stay for a few nights at a time.

No matter which option you choose, you’ll make money while you sleep, making this an extremely efficient way to reach your 500 dollar goal.

6. Flip Stuff

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If you possess a keen eye for identifying products with high potential value, you could be cut out for the lucrative activity of flipping. Flipping is the art of buying gently used items at a low price and selling them at a higher rate to earn money from the sale.

These gems are found at local second-hand thrift stores, estate sales, garage sales, and antique shops.

When you’ve found and purchased a handful of items to sell, upload high-quality pictures and listings to Facebook Marketplace or eBay. Plenty of apps make it easier to sell your items while on the go if you’re looking for a side hustle on the phone.

However, it is essential to conduct ample research and have a comprehensive understanding of the true value of the item before purchasing them.

After all, getting a refund on items you’ve purchased outside of major retailers is challenging.

And you’ll also need to be mindful of inventory and ensure you have plenty of space to store your items while you’re waiting for the sale.

7. Create a P.O.D product

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Print-on-demand (P.O.D.) products have revolutionized the e-commerce industry and made it possible for everyday people to enter the world of selling physical products without an upfront investment.

P.O.D. services allow you to design, produce, and sell products such as mugs, t-shirts, hoodies, hats, bags, and other items without ever having to print or store any inventory.

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The key to standing out and making good money with print-on-demand products is to make an original, irresistible, and eye-catching design. Once you have created a great design, you can then upload it to the P.O.D platform and start selling it online instantly.

Profit margins are much lower on these items than if you produced them yourself. But if you can get a high volume of sales with your items, you can definitely reach your financial goals.

Some popular programs you can get started with include Printify and Printful, and here is a list of 36 other print-on-demand companies to research. Each offers different products, services, printing locations, shipping policies, and pricing.

8. Amazon FBA

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You’re in good company if you want to make money through Amazon’s popular FBA program. Countless entrepreneurs have used this platform to build profitable e-commerce businesses, including this Niche Pursuits case study!

You can get started in three general steps:

  • Create an account with Amazon and choose the products you want to sell. Conduct thorough research on market demand, competition, and profitability before selecting.
  • Ship your products to the nearest Amazon fulfillment center—they’ll take care of packaging, shipping, and delivery when customers place orders.
  • List your products on the platform with item descriptions, pictures, and pricing information.

In terms of fees and payments, Amazon deducts a fee for its services, but you’ll still receive your cut from sales after those deductions are made. Finally, stay on top of monitoring sales and inventory levels through the dashboard provided by Amazon.

If you want to save time and get better results throughout the Amazon FBA program, try out Jungle Scout.

Jungle Scout is the go-to research tool for FBA sellers, helping to make sense of the vast product offerings on Amazon’s e-commerce platform. With its advanced algorithms, this handy program examines millions of product listings, evaluates competition, and identifies potential gaps in sales trends, providing users with actionable information for business optimization.

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9. Try Out Options Trading

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If you have a large amount of liquid cash in your financial accounts, you can use it to try out options trading. This type of investment has the potential to generate huge profits on relatively little capital and can be used to make 500 in a day or even more.

Options trading is a strategic and complex form of investing but can yield big returns when done correctly. Once you learn how to buy and sell options properly, it takes a minimal amount of time. Simply monitor your trades, make necessary adjustments, and reap the rewards.

Of course, options trading comes with risks and you can potentially lose money if your trades don’t work out as planned. Do thorough research on the stocks or ETFs that you’re interested in trading before making any final decisions.

The Bottom Line: How to Make 500 a Day

Figuring out how to make 500 a day is attainable for ambitious and driven individuals. You can explore various activities and markets to make those daily earnings depending on your skill set.

Ready to take your finances into your own hands?

Whether it’s through freelancing, creating and selling print-on-demand products, starting up an Amazon FBA business, or diving into options trading—one thing’s for sure: You’ll need to do some hard work and research to make it successful. But with dedication, discipline, and a bit of luck, you can reach all the goals you set out for yourself as an entrepreneur. And don’t shy away from getting a headstart from a course like The Affiliate Lab. It’s an investment that can pay off surprisingly fast!

Don’t be afraid to take the leap. The universe might surprise you!

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Learn to Play Guitar Even if You Have No Previous Training for Just $20

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Learn to Play Guitar Even if You Have No Previous Training for Just $20

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

Moe than 700 million people worldwide play the guitar, and there are numerous enterprises associated with the skill. Of course, it’s also one of the most fun instruments to play and not very difficult to learn. If you’d like to have a business, or even a hobby, related to playing guitar then the 2024 Guitar Lessons Training Bundle can help you quickly learn to play guitar even if you are a complete novice.

You need no experience whatsoever to start with the Beginner Guitar Lessons Crash Course, a student favorite with an average rating of 4.6 stars out of 5. It assumes you know nothing at all about guitar, but you’ll get quickly up-to-speed without skipping anything important.

You can then follow up with Guitar Technique, another highly-rated course. It will teach you the most important techniques for playing guitar. This course is actually for students at any level because the lessons are easy to start off with, then become more difficult as you gradually advance. You’ll begin to develop your own style in this class.

Blues lovers will thoroughly enjoy the Easy Blues Guitar Crash Course. It’s another beginner course, but you’ll quickly learn to play real blues guitar and the basic terms used in this genre. One of the best, easiest and most fun ways of improving your soloing is to play children’s songs. So you should love the Children’s Songs for the Guitar course, in which you’ll learn 20 children’s songs.

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Once you’re done with the previous courses, or if you’re already at an advanced skill level on guitar, then you’ll be ready to take the Guitar Jam Method course.

It’s for just the intermediate and advanced guitar students, focusing on teaching you how to jam without needing to play a specific song. Creative guitarists can really improve their jamming and soloing skills in this class.

The course also contains seven modules “…for the Curious Guitarist”. These are Fingerstyle, Ear Training, Songwriting, Guitar Lessons, Jazz, Blues and Christmas Songs.

All of the courses are presented by Dan Dresnok, who has taught guitar to tens of thousands of students online and in-person. He’s also been a performer and recording studio session guitarist, specializing in music theory, guitar, blues, jazz, rock and bluegrass.

Get The 2024 Guitar Lessons Training Bundle while it’s available for only $19.99 (reg. $480).

StackSocial prices subject to change.

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Inflation Not Fading Fast Enough for Stock Investors

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Inflation Not Fading Fast Enough for Stock Investors

Investors may have celebrated the end of high inflation too soon. The CPI report shows inflation bouncing higher and thus pushing back the start date for Fed rate cuts. This has the S&P 500 (SPY) coming off recent highs. This begs questions like how much more downside could we see? And when will the bull market get back on track? 44 year investment veteran Steve Reitmeister shares his answers to these questions in this timely commentary including a preview of his top picks to stay ahead of the pack. Read on below for more.

High inflation refuses to “go quietly into the night“.

Instead, the most recent CPI report was too hot which greatly downgraded the odds of a rate cut coming in June or July. With that bond rates went higher on Wednesday and stock prices went lower.

Thursday’s PPI report was a bit tamer helping to ease the mood. But it does cloud the outlook for the market.

So, we will do our best to shine some light on our path forward from here in today’s commentary.

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Market Commentary

April started with a very mild sell off which seems quite natural given then rapid pace of gains in Q1. Then just as stocks were bouncing back towards the highs we got served up a unwelcome CPI report on Wednesday that had investors hitting the sell button once again.

Unfortunately, year over year inflation increased from a 3.2% reading last month to 3.5% this time around. Yes, that is the wrong direction as we want to continue on our glide path towards the Fed’s target of 2%.

We all know that inflation rarely moves in a straight line. But this was not the first inflation report above expectations…but it certainly was the most resounding negative that investors could not dismiss.

The nerds out there (like myself) will note that the Sticky Inflation readings got even worse. That reading went up to 5% based upon the month to month change from the previous 4%. There is simply no way the Fed can look at this recent data and decide to lower rates in May…June…and probably not July.

The world of investors most certainly agreed with this notion given the seismic moves in the bond market. Most notable was the 10 year Treasury rate spiking to nearly 4.6% on Wednesday. That cooled down a notch on Thursday given the “slightly” better than expected reading for PPI.

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This greatly changes expectations for the timing of the first Fed rate cut. A month ago there was 72% probability of that taking place in June. That is now down to 22%.

Moving out to July that was considered a near slam dunk at 90% odds of lower rates. That is now a coin toss at just 49% likelihood.

Finally, we see the September meeting coming in at 70% odds of lower rates. This all points to investors going over the May 1st Fed testimony with a microscope looking for even the smallest clues of what comes next.

Long story short, I think it is borderline insane for investors to expect new highs for stocks until inflation is better under wraps and certainty increases on the timing of the first rate cut. That points to the recent high of 5,265 for the S&P 500 (SPY) as being the top end of current trading range.

The bottom of that range is a bit less clear. Will investors do more of a consolidation slightly under recent levels? The hearty bounce on Thursday seems to point in that direction. But the longer things go on without a resolution to the matter, the more we could break below the 50 day moving average at 5,105 and perhaps give 5,000 a serious test.

If that scares you, then might I recommend you put your money in the bank rather than the stock market.

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The only way you can enjoy the reward of a 27% gain for the S&P 500 since late October is by taking the risk that comes with mild pullbacks and tougher corrections from time to time. Meaning that testing 5,000 or even lower would be a yawn in the history of stock market movements which has improved our net worth considerably over the past few months…years…decades…generations…and so on.

My trading plan is to remain bullish. Just have a better eye towards the value of your positions. If you wouldn’t buy more shares of those stocks today…then perhaps time to sell and add new stocks that you feel have better upside potential.

That also calls for a “buy the dip” mentality as there likely will be more volatility and rough sessions ahead. Those are the times to step in and add shares of your favorite stocks.

All in all, we are moving back to a more normal bull market. Where 2 steps forward and 1 step back is just part of the dance. So, all the more reason to find the beat and dance right along.

What To Do Next?

Discover my current portfolio of 12 stocks packed to the brim with the outperforming benefits found in our exclusive POWR Ratings model. (Nearly 4X better than the S&P 500 going back to 1999)

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This includes 5 under the radar small caps recently added with tremendous upside potential.

Plus I have 1 special ETF that is incredibly well positioned to outpace the market in the weeks and months ahead.

This is all based on my 43 years of investing experience seeing bull markets…bear markets…and everything between.

If you are curious to learn more, and want to see these lucky 13 hand selected trades, then please click the link below to get started now.

Steve Reitmeister’s Trading Plan & Top Picks >

Wishing you a world of investment success!

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Steve Reitmeister…but everyone calls me Reity (pronounced “Righty”)
CEO, StockNews.com and Editor, Reitmeister Total Return


SPY shares were trading at $515.01 per share on Friday morning, down $2.99 (-0.58%). Year-to-date, SPY has gained 8.69%, versus a % rise in the benchmark S&P 500 index during the same period.


About the Author: Steve Reitmeister

Inflation Not Fading Fast Enough for Stock Investors

Steve is better known to the StockNews audience as “Reity”. Not only is he the CEO of the firm, but he also shares his 40 years of investment experience in the Reitmeister Total Return portfolio. Learn more about Reity’s background, along with links to his most recent articles and stock picks.

More…

The post Inflation Not Fading Fast Enough for Stock Investors appeared first on StockNews.com

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High Sport Skeptics Have Entered the Chat

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High Sport Skeptics Have Entered the Chat

If you are plugged into fashion discourse, you’ve probably heard about High Sport Kick Pant by now (perhaps against your will). They are stretch ponte trousers with a cropped flare above the ankle and pleats down the center of the legs. Sturdier than leggings and distinctly more polished. The intrigue around these pants reached a fever pitch on Substack in late 2023 – early 2024. The Kick Pant has developed a cult following, but skepticism has started to mount.

Substack, the newsletter platform, is integral to the phenomenon of High Sport. It’s where fashion influencers and ex-editors with large followings raved about the pants to their readers. Several glowing endorsements were published within a short time span. Word spread like wildfire within the platform’s ecosystem. Substack writer Rachel Solomon of Hey Mrs. Solomon describes the High Sport pants as a “fireball” item that seemed to “materialize out of nowhere.” She believes the hype is tied to the inherent “miracle potential” of pants, which are extra compelling because “the ass/thigh area is so important when it comes to fit and use case.” People will pay a lot for pants that make their butt look good.

“The chatter about these pants on Substack chat was non-stop,” says the writer of Totally Recommend, a self-described “recovering marketing CEO” who goes by Rufina. Her assessment of the situation? It seemed like no one beyond fashion writers and influencers actually owned the High Sport pants, yet everyone was hunting for alternatives. “I realized we were all searching for dupes without even knowing what the originals were truly like. That’s when my curiosity really kicked in. I knew I had to get my hands on these pants,” Rufina states.

Vi Huynh wears a thrifted version of the High Sport pants;

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Courtesy of Vi Huynh

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Vi Huynh wears a thrifted version of the High Sport pants;

Courtesy of Vi Huynh

Solomon and Rufina both bought the pants and wrote about them on their Substacks. Both writers gave their honest opinions on everyone’s burning question: are they worth it? And, of course, where can one find a good dupe? Rufina’s review series, “The Scoop On The High Sport Dupe,” made the Substack rounds for its thorough list of dupes from Ann Mashburn, Donni, and Spanx to Banana Republic, Old Navy, and J.Crew. More chatter ensued.

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Then, The Cut published a High Sport piece last month that laid bare the financial incentives for Substack writers recommending the High Sport pants with affiliate links. The public reception of the article drove the discourse around these pants towards suspicion. It reminded people of the importance of taking product recommendations with a grain of salt when someone stands to make a hefty commission.

High Sport skepticism has kindled on Substack—the same place where the fanfare began. This time, discourse around the pants are tinged with mixed feelings around the gray area of affiliate marketing and fashion writing. Kickbacks on the Kick Pant have soured the hype for many.

In her latest High Sport dupe post, Rufina ponders if we should aspire towards these pants in the first place: “Are they an unspoken application to an elite club, where the entry fee is a slim waist, a fat bank account, and a life elegantly soaring above the mundane irritations familiar to the rest of us?” Readers resonated with this perspective. The comment section contemplated the writers’ ability to make $135 per sale via affiliate links on a rave review. “For some people, these pants might still be their top pick, fitt ing their style and budget. But knowing about the commission thing bursts the bubble,” Rufina continues. Solomon reflects on how the High Sport hype has played out. “I have noticed a little more skepticism, almost like we can all suddenly breathe a sigh of relief and go…wait, aren’t these just thick, hot pants that have a cute length?”

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Vi Huynh wears a thrifted version of the High Sport pants;

Courtesy of Vi Huynh

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Rachel Solomon wears the High Sport Kick pants;

Courtesy of Rachel Solomon

Some have held a critical eye towards High Sport pants from the start. Em Seely Katz, news editor of Magasin and writer of Human Repeller, knows the nitty-gritty economics of luxury clothing production and marketing. “I know a pair of stretch pants should not cost nearly a grand without a 1000% or so markup,” Seely-Katz reveals.

When vintage seller Vi Huynh first saw the High Sport pants, the “egregious price point” stopped her from what would have been an immediate purchase otherwise. Huynh keeps up with niche fashion discourse and believes that High Sport’s brand strategy relies on the appeal of “quiet luxury” rather than a truly superior material product. “They don’t need regular people buying their pants. They’re saying: we’re the Loro Piana of stretch pants,” she continues.

Despite the skepticism around price point and kickbacks, the appetite for High Sport dupes has not waned. Seely-Katz has been diligently researching mid-price-range dupes in response to the Magasin readership’s interest. For example, they say that Sézane’s new gingham pants (around $200) are just as worthy of wear as the originals. Huynh maintains that the High Sport look is easy to find at thrift stores due to the popularity of ponte pants during the 90s and 2000s. Her advice? Focus on material—while rayon, polyester, and spandex blends are common, the better quality ones feel thick to the touch and retain shape when stretched.

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However, High Sport diehards maintain that the dupes are incomparable to the original. Writer Jess Graves of The Love List reports that the material from Old Navy and Donni versions were “flimsy and thin,” a far cry from High Sport’s “thick Italian knit that holds you in.” Graves, who purchased the High Sports with her own money, wears the pants “so often the cost per wear is probably around a dollar at this point.”

High Sport Skeptics Have Entered the Chat

Ruffina wears a dupe of the High Sport pants;

Courtesy of Rufina

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Vi Huynh wears a thrifted version of the High Sport pants;

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Courtesy of Vi Huynh

Unlike Instagram, Substack is still a relatively new space where the norms of affiliate marketing—and how consumers can expect to engage with it—are still taking shape. One can find a broad mix of fashion content, from personal essays and styling tips to shopping-driven posts heavy on affiliate links. Perhaps it is due to this broad spectrum of how and when writers participate in affiliate marketing that pinpointed skepticism towards High Sport pants in a way that may not have materialized on, say, Instagram.

Seely-Katz, who does use affiliate links on Human Repeller, emphasizes that they have built trust with their readers in terms of how they disclose commissions. “People who read my newsletter know that I emphatically don’t go out of my way to center affiliate links, many of my posts having none at all […] I am thoughtful about what products I endorse, no matter the price point,” they state. Graves echoes this sentiment. She views affiliate income as compensation for the work of content creation. In regards to her Substack, “my readers get that if I am publishing something without a paywall, affiliate links are a way to help me accrue some payment for that time spent. I don’t let it sway my editorial decisions though,” Graves notes. Rufina does not use affiliate links but acknowledges that with the instability of the media landscape, “It’s really tricky for me to say how writers should be making their money.” As a former advertising professional, her main concern was seeing High Sport purchase links posted without an affiliate disclaimer.

Ultimately, the story of High Sport reveals how Substack is becoming an increasingly robust ecosystem for launching status-y products that go viral within a subset of fashion consumers. Seely-Katz describes the phenomenon as a “self-fulfilling prophecy,” where people who buy such items are more likely to broadcast them in their publications, “creating an illusion that literally everyone is buying this stuff.”

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