January 22, 2017
// Me: As an engineer, you'd be getting Australian $100,00, $150,000, but you be getting significantly less, so …
// Dave: That's just YouTube. The problem with that video is like, yeah I put up that I earned… what was it, US$42,000 or something, just for the You Tubing. People thought that's all I earned, but if you actually watch the video, I tell you … Well I don't tell you the whole amount, I'm not going to release my tax returns.
// Dave: I earn a very good income. People think how do I survive on $40,000. I don't. I live a very comfortable … make a very comfortable living. Just my multi-meters alone I'm selling like a $100,000 worth of multi-meters a year or something. I don't know, I'd have to get the calculator out … right … and micro currents, just with a couple of products, when you sell a couple thousand of them at $100 each, that's a lot of income. That's not profit, but you know. It's just that side of the business alone could actually sustain me.
// Dave: So I do very well and people just focused on how much I earned on YouTube and thought I don't make money anywhere else. I didn't make that clear enough in the video. But the amount of hours I work for it, is crazy.
// Me: I appreciate all that, how much effort it takes to create videos.
// Dave: Back when I first started, when I went full-time with 2,000 subscribers in 2011, I had to take a contract job on the side, like a consulting job on the side to bring in an income. But you slowly build up all these other sources of income and there's six or seven different sources of income, so it all adds up. So, it's quite a decent amount, but I pay a lot of tax too. I've got a lot of expenses. It's scary. The number of expenses I got is … and that's the problem, it turns into a business. You do this YouTube thing for fun, that's why I don't have time to … I'm spending all my time doing the logistic side of things, I'm about to hire somebody new to do my packing and shipping again for me, but I set it all up. It doesn't just magically … you can't just hire someone and say, "Go. Go and handle it all." You've got to set it all up, understand them, train them and maybe in a couple of months it will be smooth, but there's a lot of issues with that at the moment that's soaking up all my time, which is why I'm not releasing any videos and just reading all the comments. You might be familiar with, I've got the forum. I got to maintain that.