If you're looking to pad your bank account with some extra cash, Kevin O'Leary has a message for you: the internet has made it easier than ever, and you're probably overthinking it.
The "Shark Tank" investor, better known as "Mr. Wonderful," says modern technology has transformed side hustles from pipe dreams into legitimate income streams. We're talking about an extra thousand dollars a month if you can figure out content creation and online sales.
"Side hustles have never been easier or more profitable. With modern tech, you can make an extra thousand dollars a month if you understand content creation and you know how to sell online," O'Leary wrote on X.
The Digital Toolbox
O'Leary pointed to specific platforms that have democratized entrepreneurship: TikTok, Instagram, Shopify Inc. (SHOP), and Whatnot. Whether you're selling watches, socks, or bow ties, these channels provide direct access to customers without the traditional barriers of brick-and-mortar retail.
But here's the catch. According to O'Leary, there's one non-negotiable requirement: "If you don't understand social media, you can't run a side hustle." It's not exactly subtle, but it reflects the reality of modern commerce. The storefront isn't on Main Street anymore; it's in people's feeds.
America 2.0
O'Leary has previously described direct-to-consumer businesses built on social media storytelling as "the big side hustle in America" and even "America 2.0." In fact, he's said that if he had to start his career over today, he'd jump straight into the digital world with social media as his primary tool.
The numbers back up his enthusiasm. A LinkedIn Workforce Confidence survey of 12,698 U.S. professionals conducted between September 21 and December 13, 2024, found that nearly one-third of American workers maintain a gig or side hustle alongside their main job. The trend skews young: a Fortune-Harris Poll revealed that 57% of Gen Z have side hustles compared to just 21% of Baby Boomers.
The Game Plan
O'Leary's advice is straightforward: set up accounts on every platform, post across all channels, and learn how algorithms work before you officially launch anything. Understanding these digital tools isn't optional anymore, it's foundational to operating any supplemental income business.
And the potential payoff? Look at Steven Schwartz, who at 25 years old tried 23 different ventures before co-founding Whop, a tech marketplace that now generates $354,000 per month. Not every side hustle will reach those heights, but it illustrates what's possible when you crack the code.
The broader message is clear: the barrier to entry for entrepreneurship has collapsed. You don't need venture capital or a business degree. You need social media savvy, a product people want, and the willingness to figure out how the algorithms tick.