Why Everything Is A Scam (Except For Scams)
Get a FREE bag of coffee with a new Trade subscription: drinktrade.com/howmoneyworks
Sign up for my FREE newsletter! - www.compoundeddaily.com/
Support me on Patreon - / howmoneyworks
-----
My Other Channel: @HowHistoryWorks
Edited By: Andrew Gonzales
Music Courtesy of: Epidemic Sound
Select Footage Courtesy of: Getty Images
For sponsorship inquiries, please contact sponsors@worksmedia.group
Sign up for my newsletter compoundeddaily.com 👈
All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind.
#business #finance #fraud
------
People are more aware of financial fraud than ever before, from crypto influencers to suspicious looking text messages we are all trained to be on high alert about everything…Unfortunately, the fact that we now suspect everything is a scam is a big reason WHY financial fraud is at an all time high. Society loves a con artist. Don’t believe me?
Think about this…
We are all celebrating Sam Bankman-Fried being convicted of defrauding millions of investors out of billions of dollars… for now…
But the same crypto enthusiasts that lost money when FTX collapsed probably at one point or another celebrated the wealth and excess of the Wolf of Wall Street… another convicted fraudster who stole millions of dollars from investors…
The future is clear, in 40 years the insufferable hustle bro’s will be liking inspirational quotes pasted over the top of SBF.
Ok that might be funny to think about, but it happens all the time.
The reported Erin Griffith with the New York Times wrote about the hundreds of fake companies with fake business plans and fake users being created to attract venture capital investment.
Firms like Sequoia, Andreesen Horowitz, and Accel had so much money that they couldn’t invest it into new ideas fast enough.
This started to encourage hopeful founders to fudge their numbers a bit to get life changing investments. There were companies that used the money and did built out a real business, but there were other companies that had to keep on lying as more and more investors piled in.
If you were a company founder trying to be completely honest about your business you would have found it much harder to get an audience with these investors to pitch your idea because you were competing with other founders who weren’t afraid to stretch the truth, or flat out lie, to tell the investors what they wanted to hear.
Cases like Charlie Javice who faked millions of users on her app FRANK before selling it to JP Morgan for one hundred and seventy five MILLION dollars [$175,000,000] or Abraham Shafi’s IRL, another APP that had millions of daily users that raised one hundred and fifty million dollars [$150,000,000] at a one BILLION dollar [$1,000,000,000] before an investigation by the board found that ninety five percent [95%] of it’s users were also completely fake.
From just these two fake apps that is a total of three hundred and twenty-five million dollars [$325,000,000] that could have been invested in real start-ups, but there are five reasons why fraud beats honesty almost every time.
The first reason that fraud has done so well even though people are more aware of it than ever is because nobody bothers checking anymore.
While good honest companies and people are held down with honesty and regulations scammers and fraudsters can just lie about how great their business is. The reason that they can get away with this for so long today is because fewer people are checking.
According to the remarks of their own administrators, organisation like the Securities and Exchange Commission, Federal Deposit insurance Corporation and the Federal Trade Commission don’t have enough resources to regulate market activity.
Eccentric founders had the luxury of shopping around for investors who were all desperate to get their money into whatever company was generating the most buzz, and the companies that could generate the most buzz, were the ones that could just lie about doing something that could change the world, if only it were true… Now big companies getting ripped off by a founders with questionable attire but that’s not where most fraud is happening.
Most fraud is targeted at regular people, and even if they don’t make any dumb mistakes themselves offloading the cost of scams onto people has become more lucrative than ever thanks to two other concerning trends…
So its time to learn How Money Works, to find out why the world thinks everything is a scam… except for scams…
Get a FREE bag of coffee with a new Trade subscription: drinktrade.com/howmoneyworks
You're an awesome person truly!
5:43 sponsor skip Everything & anything is a scam Stay vigilant
Sandeep maheshwari vs Vivek bindra is hot topic in India. Both are big Indian motivational speakers and business man. Sandeep sir has 28 Millions subs and bindra have 21 Millions subs. Vivek bindra runs an MLM. One person complained about him in sandeep maheshwari show. Then sandeep maheswari started talking against such scam business. After that vivek sent legal notice to sandeep sir. Many youtubers and common people are supporting sandeep maheswari.
Cooking the books isn't a "new complex scam". It's literally the first scam in the book. It's even standard mostly legal practice in some companies under the name of "creative accounting".
People love scams...now buy my overpriced coffee subscription
Always ask yourself, “if the person has the secret sauce to quick riches, why would they be selling the recipe?”
they always say it's about giving back lol
I once heard "In a gold rush, sell a shovel"
nobody. NOBODY will share their proven way of easy cash with you.
@@karolstopinski8350No, in fact they will. It's only that the recipe is "be born rich and lie to get as much money", so it's not practical or easy to do. I'm pretty sure Elon Musk would sell his own success story (he did, in fact), but all of us missing the "emerald mine daddy" cannot replicate that.
@@blakepollock8074and people believe it
"There is no un-scammable person. Only scripts that don't fit" - Scammer's manifesto
Just don't accept anything until the person is forced to show they are the real thing (like not paying taxes until armed people show up just to be sure).
Dont forget that every person can be involved in a cult.
True that
I feel pretty confident I'll never be scammed from online or text methods because I'm tech savvy and work in the industry. Those scams are very obvious. What I worry about is getting scammed or ripped off in areas I'm ignorant of. Like car repair for instance, the dealer or mechanic could be ripping me off or lying about some repair that needs to be done and I wouldn't know any better to say no
@@ThePapaja1996I just joined a cult.
"From his thumbnails, I can tell he's been bankrupt 4 times this year." I laughed so hard.
I used to find this guy genuine. But greed got the best of him.
@@AbstractHexagonor they never really mattered anyway
I'm not laughing as all this greed driven fraud has destroyed everything. Also the jails are over crowded, I know, bring back the chair! lol
@@AbstractHexagon He quite literally once stated one can save a ton of money *by using rechargeable batteries* . His ideas are just ...
Out of their group the biggest scammer Is meet kevin afterwards is financial education then the other two broke off from their scam bros. At least Graham is much more balanced
It's because people lack the ability to think critically. Meanwhile, the people running the scams are being rewarded by our financial institutions and lawmakers, so why would they stop?
Big facts. Now I’m not gonna say that I’m some how impervious to scams but I do try my best to at least be aware. I’m an artist and thanks to many fellow artists getting scammed by fake clients, when I got my own fake client scam I knew how to handle it and guess what, the scammer never contacted me again. Being self aware and thinking critically is a skill that is being thrown away in favor of quick solutions so people don’t have to think anymore and that’s scary
Not only are they being rewarded, society puts wealthy people on a pedestal regardless of the fact that they're praising poor behavior, hoarding.
It's not just critical thinking... the bigger issue I see is a deep frustration and lack of access to real opportunities. It makes people desperate and vulnerable. I don't think it's a coincidence that both scams and addictions have increased.
If you think about it, jobs are a scam. We sell our body and soul so that dude who owns the building we see every 5 years can buy another beach house and lambo.
According to the Black History Museum, critical thinking is a manifestation of white supremacy.
Competing for ad space with scammers is the most frustrating. Fraudsters inflate ads prices damage the reputation of the niche and make it harder for people to trust businesses.
Of course, the main revenue of a scam comes from their marketing and advertisement. They don’t have to spend their money and energy building an actual product. It’s definitely frustrating.
Advertising is a scam
The ads and comments fraud are insane
@@Dan16673 Yeah it never ends with comments especially lol, since they are piggybacking off channels that have trust and credibility.
Yes. I get what you say. I also work in marketing and advertising. One strategy I can suggest to you is to not rely solely on ad platforms: - Doing Inbound - Outreaching - Creating community - Asking yourself "what do scammers offer", provide it for free as a lead magnet (or as a front-end offer) and then selling a back-end offer. - Advertise not selling just your products or offers but also throwing stones at conmen. Eg: You could use a hook to prevent people from buying scams. - etc. These are some ideas. Feel free to use any of them. I know an ad platform saturated with scams sucks... But we have to adapt. In the end, marketing is a game of ideas.
"The greedy beat the needy and that remains the way of the world" - Willy Wonka
Hey shut up Wonka! - Peter Griffin
"How do you like your nut? Absolutely insane?" -WILLY Wonka
Willy Wanker.
"Peter" -Joe
If everyone needs to be greedy to compensate corporation's greediness? Don't we need a reset from a higher being? I pity the future, it seems: *If everyone is greedy, no one is*
Punishment for Fraud needs to be way higher.
Punishment is high already, enforcement is minimal
Enforcement is also fraud. How ironic.
@@sunnohhthats what he means don’t be a smartass
SBF is looking at life in prison, the issue is actually investigating and rounding up the crooks
@@Spartan0430i hope that is the case. Most of the time when rich businessmen commits a multi million dollar fraud, they get at most 15 or 20 years of jail then they are suddenly released with bs reasons.
Any company can slap a "science" or "innovation" label on themselves and people will fall for whatever they claim.
As a former scientist it grinds my gears when someone does that.
this is what happens when people don't appreciate accountability
No, this is what happens under desperate circumstances.
@@MiketheNerdRanger maybe a combination of both?
This is what happens when politicians attack Communists Marxists Socialists and other innocent groups who are not even the ones in power.
@@MiketheNerdRangerif that was true then there would be even more scams in poor Asian countries, but there aren't. It's just poor Asian people know what sounds to good to be true probably is. As an Asian American, I noticed most non-asian Americans are bad at personal finance. Probably has to do with culture and up bringing.
So, what can I do about it?
8:28 fraud is exciting reality is depressing 10:43 fraud moves faster than we do 11:57 people are desperate 12:44 decline of journalism
Smart of you to include a Trade Coffee add in this video, which is only a tiny bit scammy, instead of the super scammy stuff you sometimes push, like the anti hangover pills.
Bold of you not to include Better Help.
I wanted to say the same thing when I heard the part where he said they guarantee to ship your coffee within 48 hours of roasting of which that might be a logistical nightmare. And if you are not a heavy coffee drinker the coffee will sit for months & won't be as "fresh" as it's said to be. I guess everything is just a Scam now
@@116stuart frankly speaking, while I would not use a strong word like scam in this context, all these subscription services are essentially overpriced stuff that the average person does not need to get on that frequency.
I use sponsorblock so I don't even know what the in video ads are
@@VEVOJavier is that ethical though? the person is depending on people watching those ads
It's depressing... Really. To see that so many scammers are jumping from scam to scam with no consequences. I personnally think that education and society broady are failing to provide general public with critical thinking to avoid falling for such scams.
Can't fix stupid.
No one ever taught those things before. What's different now vs 50 years ago is lower regulations thanks to defunding and defanging financial regulatory agencies.
public education is now teaching your kids to be gay racists that hate people for having white skin and using logic.
I am a scam
Me too gamer
Seems legit
Ok. Take my money
Living life to get paid is a scam. Make good memories, and pray to an end of the profit motive.
No, * I * am a scam!
I remember reading about theranos while double majoring in molecular biology and economics and simply not feeling good enough and wondering when I would acquire the knowledge to start and run such a company. It would have been supremely helpful for my self confidence at the time to know that all these founders were completely full of it. Although, I don't have the connections they did or stomach for ripping people off, so maybe I would have just been depressed anyways.
I've worked for a number of startups over the years and the number of very intelligent, generally honest and highly competent executives can be counted on one hand. Most of those clowns are only good at securing golden parachutes for themselves.
I co-founded a biotech start-up almost 20 years ago, based on IP on chemical coatings which I helped develop. Long story short, funding was a nightmare and the business has only recently got a product to market. In every single industry, there are numerous amoral actors. One has to understand this and do comprehensive DD (which isn't always possible).
"To thy own self be true"
I worked for a large company that sold micro fluidic equipment during Theranos’ rise so I couldn’t understand the hype or how this startup could make equipment so much more capable than ours was.
The only fraud that I fell victim to was college and the American Dream.
There's marriage and retirement to look forward to 😅
I’ll be damned I really agree with that assessment. Thought I was the only one…. Take care!
The fraud I fell to is thinking boomers know anything.
Do you mean marriage is scam ? Few guys married to female singers stars did ok
I once took part in a pitch contest for loan funding with a few other orgs. The person sitting next to me at one of he in person pitch workshops we got as part of the program said to the group that she had been worried about taking on more debt, until she realised she could use it to grow faster than the debt repayments. She was running a non profit gym, a very laudable idea that combined fitness and therapy to help people overcome trauma. She had one small temporary gym space and about 200 customers (a REALLY good result for a social enterprise like that) and eight (EIGHT) FT social media marketers. If only she’d taken a breath, really thought about the risks, and focused a bit more on ensuring the business was resilient. Anyway. She got the loan funding, I didn’t. Probably for the best.
Eight?? wtf, why? how?? what???
If it's a non-profit, how would she repay the loan?
non-profit doesn't quite mean non-profit, especially in the United States. It means that their goal isn't to make profit but to achieve other goals. It differs legaly from country to country.
@@BuzzKirill3Dnon profit doesnt mean no money. non profits make money, some of the highest valued companies in the world are non profits, and several of the highest payed CEOs in the world are managers of Non profits. Most non profits only give around 1% to their cause and are essentially legitimised and legal scams. Non profits just have to be transparent about where their money goes, if they are a 501c3 in the US, idk for other countries but i know its something similar. and for that extra work they dont have to pay some taxes. Thats why there are several companies that grade nonprofits, and why so many love the big scammy ones like Goodwill who pay their CEOs un godly amounts of money and are afraid the little bitty ones will be a scam while in actuality they are usually the ones working hard to stay afloat and give most of their funds raised to their cause. (I run a very small non profit and have heard all the you must be a scam talk before because i am small, and if i wasnt scamming id be bigger which seems to be the opposite of reality)
@@randallcraft4071 It reminds me of the « help us grow trees » during the greenwashing mania. Several organizations leveraged donations to purchase land and settle profitable monocultures (not quite the expected trees that were supposed to save the world).
Love that a video about influencer scams, attracts ads featuring obvious low level investment influencer scams
He is at least giving us the knowledge to identify that kind of stuff 😅 he gotta make money too!
Pop quiz
I see this all the time: ads playing on content that the creator would hate and would never endorse ever. I don't know how much control creators have over what ads play on their videos. There should be a lot more.
Scamception
Considering that I had to write 40 job applications for a single interview, 17 interviews means 680 applications, which is about right. Very common for people to have to send out 500 emails to finally land a job, taking a whole year in the process.
That's the apply to anything that moves tactic. You can use a more targeted strategy to increase the number of interviews per application ratio. Usually that means filtering out the jobs that probably won't be interested in hiring you. Hiring managers essentially do the same. They may get 100 to 1000 applicants, so they start filtering out for specific, nonnegotiable skills or experience, to whittle the list down to around 10 ideal candidates, and then interview them. You can also put more effort into an application. Rather than just apply with a cover letter and resume, you might send in letters of references as well as a portfolio of projects. Check out the MIT maker portfolios for freshman applicants on youtube. They're quite impressive. And then you can also go for positions that don't have many applicants. If the application process requires more effort, then that is a sign that you won't have big numbers working against you.
@@cryora Been there done that. I had links to live projects on my resume as well. Pretty active Github. The targeted strategy seems like it should work but the downside seems much higher. I'd sit there and write a cover lettter for each job I'd have actually liked only to turn out to be a ghost job as I saw it posted on for months. It's just sad and demoralising.
@@cryora to add to your response: you don't necessarily have to discard all of the 'probably won't hire me' positions. You can randomly apply to a subset of them -- it's essentially playing the lottery on landing that 'I still don't understand why I landed this awesome, well-compensated' job. But it saves you a lot of energy and time in the process.
@@cryora I think this advice used to work really well, but given how frequently employers ghost candidates (even after several interviews) or require more interviews and take home tests nowadays, that doesn't work well anymore. I had a recruiter recently tell me that the best way to position myself for hiring is to apply to jobs as soon as they're posted bc they're more likely to interview the first few rather than wait until they get 100s of resumes. This was a recruiter at a major tech company. I know way too many highly qualified people (with good portfolios and resumes and FAANG experience) struggling to find work in 2023--- we're talking about people who used to get headhunted by competing firms and rarely had to bother applying to jobs unless they were super interested in an opportunity. There's a lot more fake jobs out there too. You can tell because the companies re-list the same roles every few months to look like they're growing but if you talk to people who work there currently they'll tell you that their team has a hiring freeze. I see this on the internal company job board for my employer as well; there's basically no new roles on there but the same jobs get posted and re-posted to Linkedin.
Avoiding fraud requires you to know more than the fraudster or have dealt with a similar situation where you were/were likely defrauded. We start off telling kids Santa Claus brings them gifts only to find out later it was our parents. Even tho it seems cruel, it’s necessary to build a bit of skepticism especially with people we have built trust.
Absolutely fantastic video! Your detailed analysis and clear presentation of the topic really brought new insights to light. I appreciate how you broke down complex concepts into understandable segments, making it accessible to everyone. The examples you used were spot-on and really helped in grasping the finer points. Also, the quality of your visuals and audio enhanced the overall viewing experience. Looking forward to more content like this. Subscribed and eagerly awaiting your next video!"
@@alengm Weird, the whole channel looks to be some sort of AI-generated clone of this one
Truly ironic 😂
A lot of words to say nothing
The sixth reason why we think everything is a scam: Because everything IS a scam.
While I wish there were fewer scams in the world and that crooks didn't get more investment than honest people, I have a hard time fully feeling bad about things that cause scumbags like Marc Andreessen to lose money.
Geez, what do you have against Marc Andreessen?
@@frankjennings4489 Guy is an Ararcho Capitalist douchebag who has no problem investing in unethical companies and practices if it makes him a dollar. He's backing Adam Newman's scam company and has gotten behind tons of failed crypto projects. To him, nothing is off the table, as long as he profits. Typical Silicon Valley sociopath.
how is he losing money when he's the one scamming others?
More money goes to honest ppl/ compliant businesses than they do to scammers
Scammers are great salesmen, while honest people tend to have low energy. Scammers know how we think, honest people don't seek attention as much.
Here's the thing. It's different people who celebrate the wealth and achievement of these aholes vs the people who celebrate their demise or come uppance. It's not a contradiction, it's different kinds of people
Exactly. Who was celebrating SBF's wealth in the first place? There were a bunch of softball interviewers praising him for being frugal, modest, a genius etc. but no cryptobro ever wanted to BE him, have the hairstyle, or bang who he was banging 🤢
What seems weird to me is the number of "subsidy" check scams that post dozens of ads on KZhead. Do they watch these commercials? Can you design a scam and just buy ad time on KZhead? Apparently you can.
Just every platform I think, the ad right under that video is a get rich quick scheme "double your income". I noticed youtube now show where the advertiser is located and somehow, all the scams are published by companies abroad... How weird. On facebook I noticed stolen accounts and 2 days old accounts are promoting scams, such as get rich quick, fake loans, counterfeit products, but somehow, whenever I report these ads, facebook comes back at me telling me they're not scams. (I use facebook for groups which are pretty much alive). Even in reality it's super hard to make the police do their job. I uncovered a business selling counterfeits to earn money on the side, they've been doing that since 2017, they're still doing it today. Another business, I uncovered that it was a front for money laundering, they sell courses, but their only reviews are negative online, the courses are what you can find for free on youtube, they have fake instructors etc... The owner has a crypto scam and investment scam... They've been doing that since 2012 🤡... Going to the police with those finds lead to nothing because I'm not a victim, I was just bored and decided to check who was being these scams. Scammers are not intelligents, because all I learnt from these 2 scams only required me to follow trails of bread crumbs between google and facebook searches, these guys care so little that they don't even bother hiding their identity at all. Plus scamming if anyone get caught is 2 months in jail on average, no matter how much you stole, low risk, high rewards.
lol I put my number in one of those to see what would happen and an Indian scammer called me 😂😂
More people need to talk about that
Not to mention the investment comments recommending random advisors on KZhead comments for finance videos. Literally never have heard anyone talk about this.
@@jacoblong6258 Atomic Shrimp channel has talked about that, they are called "cluster bots".
I grew up playing RuneScape (still do lol), I’m a veteran in spotting scams and fraudulent/suspicious/too good to be true activities or promotions. Been seeing them done online in so many creative ways that no scams surprise me. Was scammed once in that game when I was very young and new to the internet, and that was enough for me to learn to always take every single thing on the internet (and from peoples mouths) with multiple very large grains of salt. Stay safe out there lads and lasses
runescape taught me alot as well lol
I let my kids play RuneScape thanks for the info good sir
flash2:wave:free armor trimming!!!!!!!!!11!!!1
You don't "lose" your money in dating scams. You GIVE AWAY your money in dating scams. Regardless of whether or not a person is who they claim to be or not, giving tons of money to anyone is beyond idiotic. People need to be more accountable for their own stupidity.
Ever since the first time a grifter ran the badger game, it's always been more difficult to swindle an honest man.
I know a lonely, older guy with a decent income. His work doesn't allow much time for him to meet many women at all, and his age and other things makes it difficult for him to meet women in the little spare time he has. He was talking about sending money to a woman he knew from an online dating service. 'She needs this so there's a guarantee she has enough money to visit the country and be able to support herself here....' It wasn't fun, but I think I eventually convinced him it's a scam. He wasn't out a lot, for him, but they made a lot off of him from their point of view, I'm sure.
@@Wary_Of_Extremes my stupid brain refused to believe dating scams exists but I know people making 6 figures with these scams and run away with it.
There is another factor, too - punishment, at any level, is exceptionally rare. Policing organizaitons don't arrest much, prosecutors prosecute even less of those who are unlucky enough to get arrested, and there isn't really much societal opprobium for criminals. Though ultimately, this may start to correct itself in the form of vigilantism at one end, and other, more powerful/violent criminals imposing a street tax or otherwise extorting successful scammers at the other end. A scammer may not fear the SEC, local DAs, or some random citizen's lawyer, but a cartel boss holding a chainsaw inches away from some sensitive anatomy while demanding a percentage of their money? That will get their attention.
Except the cartels and mafias don't go after the people at the top, and that's due to the amount of resources it takes to go after big fish. Just like how the IRS practically only goes after poor people for prosecution and auditing due to their inability to defend themselves, criminal organizations also do the most to go after vulnerable people because it's so much more effortless and cost effective.
@@we8608 Depends on what you mean by "people at the top". They rarely go after high level politicians - at least in the US. They don't go after the execs of major corporations that ofteh, either; they aren't worth as much as theft further down the chain. However, high level business guys from non-juggernaut companies? They do get targeted; but they often just pony up without much protest. For example, Frank Perdue of Perdue Chicken just had his company buy from Gamino-connected providers. It's just business, after all.
Idk, I can’t trust this video
It is a scam
Golden comment 😂😂😂😂🤣. Can you trust the person telling you not to trust people.
This is so true, in moving from VC to PE I've found the DD drowning to be quite intense, we're conservative with what we present and are simultaneously told our return projections are high while being pressed about every minute source of risk. Meanwhile a bunch of AI engineers put together a pitch deck about a product they'd like to make on day and...got 200m funding
This is exactly why I keep my money in Main Street PE firms.
@@BenDonahower true, but they're complaining about lack of deals while sitting on mounds of treasuries or whatever.
Trade Coffee is a SCAM
Fr??
@lyndonjohnson8099 yeah because everything is a scam
A perfect example of a scam. A 13 minute coffee ad disguised as an informative video.
5 Main reasons why scams are on the rise: 1 - Nobody bothers in checking anymore 2 - Fraud is exciting, reality is depressing 3 - Fraud move faster than we do 4 - People are desperate 5 - The decline of journalism
Wait until it’s found out that Tesla is a fraud and that Elon Musk is a serial con man.. This topic will really move front and center
This was completely unhelpful, thanks.
@@BalingyIf you say so
Or humans just suck
@@Balingyfor you…
Part of it to me is that colloquially we’ve overused “scam” to the point of it losing meaning. Anything that doesn’t appeal to me personally or that’s more expensive than I’d prefer is a scam.
We also dont realize the existing scams. Like danger, you rather over estimate it than underestimate it.
But the way current market is conducted it totally can and should be classified as scam. Paying 500 for a bag that didn't cost more then 20 bucks total (yeah, adds and taxes included) and not thinking one were scammed is insane.
Bro be thinking espresso is a "roast" type; now that's a scam
“As an investment banker” lol the kettle calling the pot black
You advertising that ridiculous coffee claiming you enjoy it so much and you'll never drink regular coffee again as a complete scam😂
I have to admit, the 4th reason is slowly catching me. I know that a lot of phone calls are potentially scams, but I can't risk missing a potential job interview. I never hand any money out and I used to not work for free, but now I've bit the bullet and decided to go into volunteer work as now I know the reward for hard work is to earn a chance at a minimum wage job.
Holy crap it's that bad?
Where do you live that a potential employer actually calls you?
There's no Targets, McDonald's, Walmarts, etc near you?
@@sbombfitness I even get rejected from those places.
@@connordarvall8482 damn wtf? Did you graduate high school? And do you have a criminal record?
"a crypto token from a youtuber" 😄I swear people just fall for anything.
My friends told me not to invest in treasury bonds, because it's a scam. It would be better for me, as they did, to hold foreign currencies in some unregulated account in Cyprus.
you can get 5% up to 6% in the bond market if you wait out the entire term. nowadays 10-13 months. yup it's not the 50% that scammers tout.
Sounds like your friends are your enemies.
@@we8608 I wouldn't call them enemies. Rather, they are financially illiterate.
maybe it's just late but the sound of the investors clinking around in the basket at 3:50 is just so fucking funny i'm actually going to die
Like finding hay in a haystack.
Heh, this remembers me at time when I did team fortress 2 skin trading. At one point I had so much "liquid wealth" that I started doing bad decisions, just to not let it be idle....
They are called "influencers". The main product they are selling, the one that earns them the big money, is their influence. Influence over what? OVER YOU! (Censored explatives went here)! It's no secret that the words of an influencer are for sale to whoever is willing to pay. The old word for influencer is shill.
Fantasies are exciting, while reality is boring-the sole reason behind such stupid and risky moves. Great video!
I've never seen your videos before until today, but just couldn't help subscribing. You tell a story very nicely. Good work.
Influencers and scammers condemn our 9 - 5 jobs and yet they're after it's money, No ways ! they're not getting mine, I've got enough bills
they ( the scammers ) made more money than any 9 5 job ever will
@@madhunter6420 as always bro. Working legit in this world is su*cid.
Life is a scam
You mean because it’s all a simulation like more and more physicists and computer scientists believe ?
I gained a lot of insight when I worked with a narcissistic entrepreneur. He really believed his own hype. He would say his business was in 4 cities, but was really in 2, and barely hanging on at that. The other two cities had been operational before, but his employees in control ran them in the ground. He always believed he could just get the business running in those places again if he wanted. He would also CONSTANTLY point at revenue instead of profit. He took large loans against the revenue numbers to pivot to his next ambition for the business. Meanwhile doing nothing to improve or stabilize the current offering. Any hesitancy that the market would continue as it was, or that his ambitions were too large he deemed "negative thinking." He was never toxic to me, but ever since going my own way, I hear a lot of similar talk from various businesspeople and politicians. It's disheartening how the system is easily manipulated by such folk, including to crush their opposition.
Love this channel dude, since I found it. A gem in a field of youtube financial "geniuses". Keep it up.
Another banger from HMW
Honestly the people Graham associates with are way worse than him. Meet Kevin hits every nail you bring your hammer down on.
i have only seen a few of his videos but i guess he makes content for youtube as i think that is his biggest money maker.
Thanks a lot. That makes a lot of sense.
The boulder animation when all of a sudden a guy in the escalator passing him was so funny.
I'd definitely be into a podcast format version of this channel, like the same sort of well researched content but a little bit more in depth and more of a chill pacing, like 20-30 minute episodes.
He does talk fast, with a lot of rise inflation at the end. It would be nice to more of a conversational tone.
Yep. The content is good. Slow it down a bit.
You're doing the Lord's work...people need to see videos like these on a daily basis
@2:48 I’ve never seen a more accurate example of the lier’s vs the honest businesses 😂
Excellent essay!
Lets start cancelling scammers!
5:43 sponsor skip Everything & anything is a scam Stay vigilant
Always interesting, thanks.
If everyone got scammed, it would be a miracle because we would then truly be all in it together except for the scammers themselves
100% agree with everything you said. At the same time if you invest all your savings in a Logan Paul crypto project in the hopes of getting you rich you get what you deserve lol. Im not even sure ignorance is an excuse as a lot of people who know nothing about investing correctly choose to add money to their workplace pension each month and live their life without worrying about it showing a lack of knowledge isnt an issue. The only reason to fall for these is greed combined with stupidity.
No compassion at all, huh. This is part of the reason this keeps happening.
@@MiketheNerdRangeroh come off it. People who have no compassion for people making obviously bad decisions are not responsible for the actions of others. The only person who is responsible are the scammers themselves. The only harm the ridicule has is that scam victims might feel too ashamed to admit they’ve been scammed but once again, that’s on them. Don’t infantilize them. You get scammed? Grow a pair and tell the authorities. Do your due diligence and do your part to make sure no one else gets scammed. If you stick your head in the sand you’re just as bad as the scammer
@@MiketheNerdRangerrun out of compassion for people who cant do simple research. I try my best not to be burden but so many people with no skill and knowledge keep getting scammed economically and politically. Subsidies is a mistake
When I was young, my second job out of the Army was working for a cheat. He had huge turnover, so when you interviewed locally at tech companies they all asked what was going on. You are not supposed to say bad things about previous employers, so when a guy who knew my old boss asked my opinion of him, I said, “ You have to respect Bob’s success.” He almost fell out of his chair, then started in on what a jerk Bob was. No one who knew him liked him at all. The world has changed.
I admire no scammer. I think they should get much more time in prison than they do.
How antisemitic
@@scottanno8861 probably to a certain degree.
@@scottanno8861 Whats so antisemitic about that? Who said these scammers are jewish?
One of the three letter government agencies is investigating a buuuunch of corporations (Walmart, target, etc) for price gouging. Prices have been going up disproportionate to the price for making a given item, and the government is “just now noticing”
Scam.... Need to think like a scammer in order to avoid it if possible.
HowMoneyWorks is one of the few genuinely intelligent business channels
Tldw: we live in the grift economy. Fraud is easy money, the hard part is not getting caught.
Another thing is simply that actual legitimate businesses are doing a very bad job of not looking like (or being) scams. They use ugly overcomplex URLs that look like the ones scammers use. They have clumsy UI design on their websites that look like those of scam sites. They often don't even properly grammar check their websites, when such grammar errors were originally a clear sign of a scam. They don't vet the ads that go on their websites, allowing traditional scam ads like fake download links or fake sign-up links to prey on their users and reduce the apparent authenticity of the whole website. They engage in duplicitous business practices and use dark patterns to trick people into paying for products or services that aren't the one they wanted, and make it difficult to unsubscribe from a service or make a one-time purchase instead of a recurring one.
When I'm on a sketchy 'adult' website and the "You're *iPhone* has *17 viruses"* popup redirects me to the actual McAfee or Norton website.
Always here for the Graham banter😂
How's that guy not behind the bars yet is beyond me
"Getting wealthy slowly is so old school." ― Warren Buffett
Talking about how influencers could affect other peoples' perspective to get scammed after his own ad of a coffee that I hope he really consumes is pretty funny
As of 3:24 very informative. I didn't realize fake companies were so prevalent. Well I guess they're like shell companies mentioned so often in movies etc.
"In the end, Greed triumphs most things."
We’re in a late stage capitalistic hellscape.
Problem is not with capitalism. But with technology and social media. It allows to level the playing field to the lowest: 600 job applications aren't possible in the 1980s. It undercuts everyone: there's always an Indian dude (no hate towards Indians btw) who wishes to work for $10k/year as a software dev, with the same qualifications. Problem is with not WHAT to sell, but HOW to sell. Preciously, company valued it's branding and reputation, because the word of mouth builds it extremely slowly. Now companies pop up left and right, which sole goal is to pump the stock, cash out and be done with it. I don't blame capitalism. I blame tech. Unabomber was right. And the longer i live the more I'm aure of it
thanks for bringing this content up to us
Thank you for videos
I just got SCAMMED out of 13 minutes.
Thankful for channels like ScammerPayback and Kitboga.
A video about scams and get rich quick scams has an ad about "Abundance webinar". Ironic! 😂
This is the 1 Video i saw of you. You earned a sub
Fix the money. Fix the education. And this problem too, fixes itself.
Easy to say. Hard to introduce, even harder when entire countries rely on scam to get social approval - for example introducing new social welfare programs and new taxes, so citizens think they get more money from goverment, but they really lost more than got
Raising interest rate just filter out companies with real business model from scammers
Technically, it's recessions that flush out the bad investments.
bold of you to assume real business models are more profitable than scams
These videos are just awesome!
Thanks again
Outstanding job, *Charge BackTools* I'm so glad you're out there battling these vile con artists. We must take every precaution to protect the general people and the elderly from these vile con artists!! Bravo to you! You ought to be awarded the Nobel Prize for protecting us. Big up, brother
Ah yes. Grant Cardone the biggest scammer
Eye-opening figures and anecdotes! It's an unfortunate reality that it's hard to trust what's genuine in this current financial climate.
This is a really great video. It's so funny that the scams are so out in the open these days. It's just a numbers game and the scammers don't care. There are a lot of dumb people and they will soon part with their money.
I'd argue Elon Musk was a "fake it until you make it" guy. Had he not hired the right people in Tesla and SpaceX, he may as well could have been a scam artist. Success have taught all the wrong lessons to Musk though and his ego is through the roof and starts trying to push things like the Cybertruck and Starship.
I’d say starship could work, just not in some of the ways Elon thinks it would (like flying point to point on Earth). I don’t know what the hell he was thinking with cybertruck.
Please try to fake It and make it like musk I agree with some projects are not realistic but he has put lots of hard work.
I wouldn't say Elon Musk was a fake it till you make it situation. More like an already wealthy guy who had just enough money to start an EV manufacturing company at a time when nobody else saw how hyped up EV would be, deserving of the hype or not.
Hiring the right people and trusting them to do their jobs is one of the hallmarks of a great manager versus a manager that doesn't screen candidates thoroughly enough and ends up micromanaging everyone beneath them in an effort to keep quality at an acceptable level.
I'm of the opinion Tesla is going down once every major automaker figures out electric vehicles. His head start has been wasted.
Legitimate companies cannot compete with scams. For half the price, people can hand over money for the same crappy products and services. No company can stay in business if they have to actually deliver the goods.
Love your content
Do a full video on Jeremy Financial Education it was so entertaining to watch him crumble in 2022.
Why do comments sections turn so… toxically positive? I swear it’s either positivity that is too much for how much is earned, or just disengaged silly bulls#!… Why?
Bro, I had an ad, when I skipped it and went back 5 seconds immediately, I GOT ANOTHER AD KZhead is a real scam
Great video
This video is a great service to the community as BTC is on the rise again.
And BTC is the biggest scam of them all since its passing off as bitcoin...currently
@@cheeseheadwizardis it not normal bitcoin?
Ssshhh, you'll summon the crypto and bitcoin drones/bots again. We got a break. But at anytime.. they could come back and take over the comment section.
Sometimes it really works out to just assume the worst from everything and then when most things aren't a problem, you're always happy to be proven wrong. However, when you do use that pessimism to your advantage you'll be happy to know that you didn't get scammed
I loved the fact that after all said on the video this channel selling it's merch on KZhead 😂👍🏻 good job boys
Can we talk about the financial scam of going into school for medicine or pharmacy (etc.)?? It’s been a lifelong dream to help/save people, particularly those most vulnerable to the health system. Some dream to rise out of poverty through hard work and commitment to learning yet they keep pushing the line. I’m shocked at the RISING cost of NUMEROUS fees and certifications. And God forbid you get sick in that process or fall in love and want a family! You could lose your entire investment and get crushed in debt due to these so called “distractions”.
Those costs are an intentional debt trap. Poor people with debt don't challenge the systems exploiting them.