I had done that before...once. A web gallery to India. But I don't recall making thousands from that. I was doing it because I had no time, not because I want to watch Detective Mittens.
This "Bob" is just classic example of why American "lifestyle" of today is guaranteed to fail in economy. Failing is one thing, but to get others involve, that would need some spanking.
This is not honest to the company (could have just tell the company what best to do or open his own firm) but he has to have his "luxury" time.
It is also not fair to the Chinese subcontractors as they were not paid the fair amount.
This idea had crossed my mind before and I discarded it for the very reasons above.