Why Finance "Gurus" Want You To Hate Them - How Money Works
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Financial charlatans promising people the secrets to getting rich quick have been around for as long as capitalism itself.
These people will present themselves as wildly successful before offering up the secrets to their success for a steep price.
The modern incarnation of scummy business model got itâs start with cheesy so called âfinancial Gurusâ who would pay for ad spots on late night TV infomercials. Today the practice has become more popular with social media platforms like Facebook, Instagram and TikTok giving these men direct access to millions of potential victims.
But if these men are trying to convince people of their supposed financial brilliance, why donât they present a more professional image?
Financial charlatans promising people the secrets to getting rich quick have been around for as long as capitalism itself.
These people will present themselves as wildly successful before offering up the secrets to their success for a steep price.
The modern incarnation of scummy business model got itâs start with cheesy so called âfinancial Gurusâ who would pay for ad spots on late night TV infomercials. Today the practice has become more popular with social media platforms like Facebook, Instagram and TikTok giving these men direct access to millions of potential victims.
But if these men are trying to convince people of their supposed financial brilliance, why donât they present a more professional image?
#howmoneyworks
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CZcams has given these guys even more power by removing the thumb down counter
@Reality deserves , let youtube be another stupid social media account.
lol I doubt that that has much of an influence
@Reality every platform kn kapitalism every will only want to more money.
*For those unaware, there are extensions you can get for your browser that'll make downvotes show (with the exception of where upvotes and downvotes are disabled by the creator).*
Vanced my boi. It brings the counter back
With the rapid rise in inflation and the cost of living in society, I'm certain that these "financial guru's" will proliferate and profit even more as not only will people increasingly look towards alternative ways to make money, but in an age of uncertainty, those who appear confident about what they're doing can have extra allure.
It makes me sad that you are probably right
It's sad that the problem is right in front of people's faces: capitalism isn't working for people who aren't rich, but they refuse to see it and instead have the stupid plan of "I will become a successful capitalist before having any capital."
almost skipped your comment after reading the first 12 words, so many spam bots starting their comments that way
@@SuperShado101 same lol
Gurus.
I had an economics professor who was reasonably famous in the economics world. Famous enough that he got a lot of pitches for get rich quick schemes that wanted him to endorse and of course back with real money. He had a simple response was - "If this is so good home come you are telling me about it? How come it only works with my money?"
How did he know they were only telling him? If he is reasonable famous in economics, that could be why.
great stuff
This sounds like you just had the platitude and couldn't resist making up a story to set it up.
I remember hearing Grant Cardone say something along the lines of âI donât care if people hate me, at least they are thinking of meâ
âNo interest is a level of interestâ -GC 10x
Bill Gates said the same thing about pirated software, as long as it's my software I don't care.
"The goal is to be known, not liked" basically harping on the old saying, "No publicity is bad publicity"
He also said "it's not my money" when speaking about recession.
@@ljturnbow the opposite of love isnât hate, itâs indifference. Love and hate both are serious emotional investments that garner significant attention. âAny publicity is good publicityâ is pretty much what Trump did.
A sales funnel that generated 4,000 new auto customers from 1 million ad impressions would be the greatest sales funnel of this century.
Haha yeah, obviously it's a bit exaggerated but I was trying to get the point across
@@HowMoneyWorks Haha yeah I got you. It was just funny to me because I run ads for stuff like that and got excited when you brought up the example wondering how close you'd get with the numbers. It was a good explanation overall though.
@@frankjennings4489 what would be a more realistic rate?
@@frankjennings4489 What are the actual numbers like?
@@NA-gf1zy That would mean you got a click-through-rate (CTR) of 0.4% which is fairly low for Facebook Ads. I took the CTR for my example right out of my Facebook Ads Manager which has hundreds of millions of impressions, so it is as close as you are going to get unless you are managing an Auto account and can look at the real numbers. I chose to use Facebook Ads in the example since most people are familiar with them and they are about the highest quality ad inventory you can get. That way, it would give us the best chance of hitting the 4,000 unit goal with only 1 million impressions. If you're talking programmatic display ads (aka banner ads) that you see on most websites, 0.4% wouldn't be a bad rate though.
Another reason for misspellings in scam emails is to bypass filters that would flag the email.
That us actually genius if you think about it xD
Except misspelling is a spam filter
Like the spam bots that litters every video Ever xD
I mean, at some point default spam filters will get so good that there won't be any more spam emails getting across. Can't wait for that day!
Video starts at 2:36
Top comment here
Damn, the first full quarter of the video is an ad lol
@@Pat10Ireland the beginning before sponsor is just an intro which is rehashed immediately after the sponsor
Modern problems require modern solutions.
I realised it was an ad and tuned out. Didnât realise until 5 or 6 minutes in before I started listening.
Bad ad portion allocation for sure.
I once attended a marketing scam introduction with my partner. I forget exactly what the product being sold was, but it was one of those totally-not-a-pyramid-scheme things where you buy the course and that gives you the right to sell it to other people. The leech hosting it was going on about facebook marketing and who to target. I asked why you would try to sell a course to people who had already bought other courses which failed, and his answer was basically 'because they're stupid'. He said this in a room full of people who had previously bought similar courses.
Some still signed up for the 2-day $5000 'personal tuition' at the end of it, so I guess he was right.
Heâs not confessing, heâs bragging
- Big Short (movie)
Bold but I respect the honesty.
đ€Łđ€Łđ€Ł
That is so sick but honest at the same time. Mind blowing that gullible people fall for it
âIâm so rich. Thatâs why I sell classes for $500.â đ€Ą
Check out Adrian Gee on his take on why there is a fee involved đ€Ą
Bro but if you donât pay for it you wonât take it seriously đtheyâre doing YOU a favor by making you pay.
Universities
@@YeloPartyHat exactly. The double standards are so real. I paid around $1500 or so for a GEOLOGY class at a mainstream âtop tierâ university and was required to for general Ed courses. Iâm not a geologist and never will be.
Lol they're getting scammed
It's not just finance gurus who do this. A lot of internet personalities resort to controversial takes (a lot are even more absurd that the last one) to generate engagement on their social media pages or channels. Even legimitate, mainstream media does this now which explains why a lot of news and sports channels have this always-angry-always-shouting type of anchor on their channel. Heck, even clickbait articles could be likened to this. Now the thing is just to generate engagement, regardless of the substance of the content.
VShred is a good example of this marketing strategy as well - which makes sense since Vince is just a pretty face and set of abs backed by a group of professional marketers.
No wonder d ppl in boxing, mma, WWE do this.
Well said. The example I think of is ESPN first take
Man, having a conscience is expensive.
Oh yeah. There are business models where you just privatize a public good and theb sell it back to people. Give it 50 years and we'll be buying cans of clean, breathable air like in Space Balls.
Tell me about it! "If you can't beat 'em, join 'em"? I couldn't stomach doing what they do.
Only in crapitalism.
So, they pretty much use the same playbook as prosperity preachers like Joel Osteen and Kenneth Copeland except they are preaching finance over social media and CZcams instead of Jesus on TV instead.
bingo
Preach!!!
I love how you explained a sales funnel in less than 30 secs but ppl would gladly pay ÂŁthousands to learn about it in 5 days
7:05 this is one thing I genuinely despise about youtube. Giving negative feedback is really difficult, as the majority of the interaction, from commenting to watching a good chunk of the video, boosts the videos stats. Downvotes might do something, but I haven't heard much about how it's factored in.
I don't think downvotes count as negative feedback. They might actually count as positive feedback as social media cares about user engagement, not user pleasure.
@@kunstderfugue not like Reddit then.
CZcams says no bad publicity?
I mean, just look at the shittiness of reddit right now. Downvotes wouldn't work
@@tobia5267 Preach. Everyone on youtube should know this
Downvotes have long ceased to be a negative factor.
One thing Iâd note is that many salespeople have a high level of expertise in their field. Oftentimes, you have to have a high level of technical knowledge around the products and services you sell.
Just having great sales skills isnât necessarily enough. You need to understand the needs of your client, the product you are selling, and the competition. In something like tech or finance, that can take a lot of education.
Thereâs a Nigerian prince out there somewhere with stacks of money wondering why no one wants it
8:50 - Glad you used the email analogy. As a programmer, I was thinking this the whole time I was listening to your analysis. Very true, and very effective.
I love the ones that are just
"I'm rich cause I figured out how to not pay taxes".
"I'm rich cause I'm millions in debt"
Being millions in debt is not always bad. For example people do this to avoid paying taxes, say you have stock worth 10 million, at a 40 percent tax rate if you wanted to take out 4 million dollars you would have to take out about 7 million dollars because if taxed leaving you with 7 million. But if you would have used your stock as collateral for 4 million dollar lets say with a 3 year loan you borrow tax free. And lets say that untouched Stock is now worth 18 million, you used that four million to put twenty percent down on a rental property worth 20 million the income from the property you payback the loan. So how you have an 18 million dollar worth of stock and a 20 million dollar real estate property in your portfolio , Increasing your net worth to 38 million. They use debt to buy assets that produce income and increase in value over time and with that income they pay off the debt
So trump
@@youngatnaruto5842 I'm aware of how it works. I just find it openly exploitative this system we have where you have a ton in debt to offset profits. You don't have to have money, just service loans.
@@silicalnz It works the same way when we deposit our money in the bank and they turn around earn money on loans and invest in the stock market and invest in other companies. People can do the same as wells and to protect their profits they can roll that money into real estate get the benefit of the property appreciation while lowering your tax bill and hire a Tax stategist to find legal ways to reduce their tax bill. Not just the rich but regular people can take advantage of this as well
@@youngatnaruto5842 must be an american system that you could borrow money/loan thru a bank without tax.
In my country, whatever loan you have there are taxes & interest.
All the best scams start with confidence.
These guru's might have little-to-no credibility but their performance is top notch, from their costume to their mannerisms. It's interesting how much "monkey brain" psychology is at work here too; a muscular physique doesn't make someone a more savvy investor and yet our minds have been so strongly evolutionarily & socially primed to associate muscles with dominance, better leadership and greater authority, that we're still liable to being drawn towards those with good bodies even over matters regarding our finances (and you will note that these guru's tend to spend a lot of time hitting the gym, especially focusing on building up their upper bodies).
I've noticed there is increasingly often a whole lifestyle culture connected with and promoted alongside all the money success sales pitching, resulting in this sort of hybrid "rise & grind" culture which combines self help book advice and "alpha male" thinking, workout & lifestyle regimens, designer products, to spirituality and a whole workaholic culture rolled into formulas which promise people great success in life if you simply follow them. The advice is not always bad, but often a lot of it is totally irrelevant to making money and more importantly, many people don't seem to realise that the people pitching this stuff make their primary income from promoting the lifestyles. It's often targeted towards young men/teenage guys (although the whole "girl boss" movement also has it's fair share of it) and some people take the culture very seriously, practically following it religiously.
I feel like stuff like this has probably always existed in some form or another for each era in time, but social media has acted like steroids for these semi-scams and sales pitchers, giving them unlimited power to reach and proliferate. I wonder in the future how people will look back on this era?
Well stated đ
âSelf-improvementâ gurus are the same people who blame average people for structural problems within our corrupt society.
yes, stuff like this has existed, take Christianity for example.
You either blame the devil or you just say that "god is testing you".
Similarly in hustle/self-help, it's just "part of the process" or "you're not trying/wanting hard enough"
@@GameFuMaster worship of money is now a religion, go figureâŠ
It's still going to be the same, like you said history always repeat itself. There's a sucker born everyday.
If someone has the formula on how to make money, theyâre not going to tell you for free
Iâll tell you for free: be born rich, nepotism, lie, cheat, steal (without getting caught), and most importantly be lucky.
@@jokerpilled2535 accurate if you are a woman sell your body or get with a old rich man
@@Thepinkxx if you're a woman you don't even need a sugar daddy. Lay in bed with 5 men.
Wait some time.
Sue them for raping.
The profit will come incredibly easy.
No evidence of their innocence? Cool, you already won the case. Enjoy your money
What are you talking about? They won't even want to tell you to begin with. Best they would do is pay you a salary to work for them and they earn much more
If someone has the formula on how to make money he's never going to sell it, even the most rich and powerful people in the world bend over like bitches at the sight of a good patent. Apple would be worth peanuts without ARM, google as well if they didn't have pagerank and 80% of the stuff made in the world would be Dupont if not for licencing copyrights.
I got pretty mentally invested in these sides of things for like 2 years and it really ruined some of my relationships with friends because i started to think of myself as "better".
The sooner you realize life is more about relationships and things of that nature than money and wordly success, the more this stuff doesn't make sense.
Agree to an extent. The outlook I prefer is donât compete with others. People will look down on you but at the end of the day you donât worry about money.
@@IL_Bgentyl people always compare one another. Bragging is a part of human nature.
@@jokerpilled2535 welp i enjoy my form of bragging. I enjoy I can live life frugally comfortably compared to others and donât live check to check. Some people flex cars, cloths, and so on. I flex peace of mind.
@@IL_Bgentyl I enjoy that too, being stress-free is a privilege in this day and age.
well we are social creature so relationship is important. but make sure to choose who you relate with, not all relationship is good . and money is just a tools. i never get those who blame money for something, like those that have money cannot have good relationship.
it's like a knife you can choose it to stab someone, hunt, or even cook for someone.
If you get someone to pay you thousands of dollar just for a talk you definitely aren't stupid, morally questionable but not stupid
Well either that or you are in the business of bribing politicians. No one pays Hillary Clinton a hundred thousand dollars for a speech because they are interested in what she has to say.
Doesn't mean you're a genius either, just means the victims are stupid/naive
@@ginz9r you know the saying. There is a sucker born every 10 seconds
More like Moral Bankruptcy
Theres a saying in Finland ; he who asks is not stupid but he who pays
"How I earn 25k a month working from home telling other people how they can make 25k a month working from home"
but, it's not a pyramid scheme because you have to start from scratch and you don't have to give a cut to anyone, other than the bank where you got the loan to afford the seminar
Can't deny it's a way to get rich, however scummy it may be. As the saying goes: 'words are cheap.'
Give someone enough lip service, and then they'll be willing to rain dollars on your face. :v
The Financial market is still a fantastic tool for building wealth, however, it's wise to consider investing even if you don't have much money to spare.
@Nancy Abeyta Hello, what approach do you invest with ? I'm a new here
@Nancy Abeyta I'll like to connect with him. I want to invest my savings, Pls can you help me honestly i need this.
Same here Please I was just need a remedy to bypass losses and make gains in the market
I'm not surprised seeing RODGER MICHAEL KARL being mentioned here. Sir Rodger MK is good and everyone loves his qualifications and genuine services. I guess that's what he was born to do.
@Nancy Abeyta Thanks so much for this info , it wasnt so hard to find him on telegam.. He seems very proficient looking at his resume.
I have yet to find a salesman who doesn't think they are more important than the developers and engineers who make the actual product, and I also have yet to find a salesman who actually contributes anything significant of value to society. I'm not at all surprised that they're the main target audience of scams like that.
From a purely business standpoint, sales (and marketing) is more important. There are lots of great products, well engineered that no one has heard of, and that never make money.
Yet the market is flooded with goods of lower quality that make millions.
Not saying selling snake oil is good, but the idea that good products sell themselves is naive.
remove the salesman, than who buy the product??? it's useless to have a masterpiece but no one know about it. there is a reason every company have marketing team
@@ribertfranhanreagen9821 Yeah, every company has a marketing team because every company has a marketing team. Same logic as with militaries, they don't really contribute anything to society, you just need them because everyone else has one. There's nothing wrong with working sales, the profession just seems to attract a certain kind of people.
I think sales often do play a valuable role, especially in B2B industries. They can act as an interface between engineers/developers and customers/clients. Sometimes you need someone in the middle to translate customer requirements to something the engineering team can understand, and vice versa. You have to remember the people doing the purchasing at the client company may not be experts in whatever software or widget they are buying.
@@majorfallacy5926 i know ur comment is old but it's a really terrible take. Maybe statt your own business without a sales & marketing team and see if you can prove your point. Just because you feel strongly about an opinion doesnt mean it's true.
The hidden phrase to learn from these guys is "do as I do, not as I say"
Itâs very easy to tell these guys are nothing more than SCAMMERS.
You see, if their method of earning money was so profitable to the point that theyâre allegedly successful, then they wouldnât share their methods in the first place.
Why would you spill the sauce on something that have net you thousand if not millions of dollars? Itâs doesnât make any sense. The method would then be saturated because everybody would do the same, creating competition and lower earnings.
Honestly, people who fall for these scams deserve to be ripped off so they can learn their lesson. Seriously: itâs so easy to spot these charlatansâŠ
That's not great logic. That's like saying, "If this guy was in such good shape, why would he share his routine with others"?
@@Leviticusrich capitalism needs winners and losers. That is how it works
@@geordirendum583 it depends, markets aren't always zero-sum. An experienced influencer focusing on a particular niche might coach new influencers to do the same so that the niche as the whole can gain more traction. In a saturated market you are right though.
@@phillipjiang1593 interesting !
@@Leviticusrich Context is king here.
Your analogy is flawed in the sense that being in good shape based on a certain routine is not the same as ripping foolish people off their money if they are gullible enough to believe a get rich quick scheme and making millions of dollars in the process.
Pffft !!! People think I am dumb enough to fall for so called 'Financial Guru' scams.
I helped out an imprisoned Nigerian Prince earlier today with a $100,000.00 loan that he is paying back with 900 percent return. He even has his own bank called Nigerian Prince National Bank where I sent the check.
I am too smart for scams. I make money bro.
Zamnn
Zamn get the bag girl đ
I do this scam where I sit in a classroom all day and nerd out about computer programming and electronics to teenagers who have no choice but to be there and listen to me.
The reason for Bad spellings in internet scam emails is because they do not want to deal with people smart enough to read or smart enough to not send money to a Nigerian prince.
This question was always bugging me. Thanks
Amazing video, you managed to explain some very important marketing concepts, and how building a brand is important to sell a product, an aspect that technical people often ignore and have to learn the hard way. From my experience, when you explain how the tactics work, you also make the charlatans less effective, so good job.
âYou can do it! Thatâll be $5. You see, I just motivated you, with my words. Iâm a motivational speaker; thatâs my job now, I decidedâ
I see the Ryan George universe is expanding.
@@techwizpc4484 the influence is creeping into this universe
That's literally Tony Robbins's story. He was working for a motivational speaker and decided he'd just do that.
Step one: lie and tell everyone you're successful.
Step two: convince people to pay you to teach them hoe to be successful.
Step 3: now you're actually successful, continue selling courses.
A few years ago I had to take a job selling cars to survive. I was a park ranger before, and those jobs tend to be seasonal or temporary, until you get enough experience to be permanent, and its very competitive. When I hit 30 I couldn't afford to move every 6 to 8 months. At that point I found myself far from home in WA state. I needed the first job I could get, and a Nissan dealer hired me to sell cars, and had ZERO sales experience. I subscribed to Tony Swedburg, and other channels offering free tutorials. I can say those creators saved my bacon. A lot of dealerships dont really train you, and just throw you out to sink or swim. Ya their personalities are slimy, greedy and over confident, but you NEED THAT to survive in that industry. I did it for 2 years, and even though I am so happy to no longer be in that life, I can say I learned a lot, and the experience I gained there turned out to be more valuable to employers than my masters degree.
I never got into Grant Cardone or Don Luc, but I wouldn't have made it in the dealership without channels like Tony Swedburg, because in a dealership your co-workers are your competition. I learned the hard way they can teach you bad habits on purpose to maintain their own paychecks. I never did that myself and after I got the swing of it I honestly did try to help anyone else I met who were in my sort of position, but I also never planned to make a long term career in sales. Getting the knowledge from "gurus" on CZcams kept me off the streets at that time in my life. Its also reassuring to know that if I ever needed to do it again, I know how. Its also not a bad idea for ANYONE to learn about those skills because they are applicable in reverse too, now I am very confident in my ability to buy a car without getting ripped off or paying too much, and what is and isnt a realistic goal.
On the flip side, I also learned things like the "jerk tax" are 100% real. I was way more likely to try fight my managers for a better deal with a customer who was polite and respectful over one who is cussing me out, yelling at me, and being rude (golden rule people). In fact if a customer was being a jerk to me I adoptef the mindset of take it or leave it just because I either wanted them to leave or if I was going to deal with their bs I wanted to get paid for it. You can be a strong negotiator without being a jerk. So even if your not getting the deal you want, it really does pay (sometimes to the tune of 4 digit numbers) to be kind.
TLDR, the advice can really help you, its a valuable skill, but man I am glad to be done with dealerships.
Thing is, you don't need those slimy skills and tactics to survive in that industry when the business model/pay model is right. There are dealerships that actually pay a full salary and any cars you sell is just a small bonus on top. So those salesmen tend to be way less scunmmy and actually do their best to treat you right since their full paycheck isn't dependent upon you buying a car no matter the cost.
I understand what you're saying because I had to sell myself as a freelancer too. However, you don't always have to be slimy to sell. I'm an introvert and approachable to many people yet folks give me their money.
@@ecksluss right, I tried to be as honest as I could when I was in it. I like to think my dealership was somewhere in the middle. One of the problems I faced (probably because I was so green) is that I was entirely dependent on my managers/senior sales people. After a while I learned that my managers would keep me in the dark about certain things so when I went to face a customer I wouldn't have to lie. At the end of the day I know my honesty held back, but I would rather have a happy customer amd make less money, than have a customer who felt cheated, and if that made me a mediocre salesman then so be it. Haha. Also at that particular time I needed the first job that came along. After 6 months there I was able to move on to a much better dealership with more ethical pay plan (still performance based, but not 100% commission based). At the end of the day I am much happier to be out of that life.
@@ecksluss I know you dont need all the slimy tactics, I always picked and chose which skills I used. I liked the "gurus" that had more creative solutions than the cut throat closers. My favorite was exceeding expectations with a lower price tag. We were a Nissan/Mitsubishi dealership, often I would get customers looking for "a used car, with good gas mileage and reliability for 15k or less" (pre covid prices). Rather than try to push them on a used whatever we had at that price I would ask them if they were interested in a new Mitsubishi Mirage we had for 12k (sometimes less, again pre covid market), which came with a 10 year warranty, lower interest rate, and got 40+ mpg. Obviously made less money selling a new car than a used one, but the customer got a new guaranteed to be reliable car, for 3 or 4k less than whatever used sedan we happened to have. My buddy actually bought one in March of 2020 for $8k (it was a new 2018 model year that hadn't sold) we always had a few new unsold Mitsubishi's that we basically sold for cost cause it looks bad to have unsold new cars on the lot.
Those were my favorite customers, because I felt like I was able to give them way more than they were expecting for less.
@@bethromelus6172 right I might have a different definition of slimy. I wouldn't lie or mislead people, but sometimes i felt bad for taking the money. Again happy to be out of sales.
What I love about this channel is that the title sounds like it's this ultra-pro-capitalism channel when what it actually does is pull back the curtain and reveal the dark side of our civilization's economic underpinnings. It's simultaneously educational and cynical, yet delivered with almost a cheerful inflection, all while telling us things that are terrible about the world we live in. It's a goldmine of a channel particularly for someone like me who doesn't like the way certain things are headed but can't exactly find the words to describe how or why.
Nice content. To be clear, I don't expect catastrophic inflation anytime soon. But it doesn't hurt to bolster my finances ahead of uncertain economic times.
His trade execution quality and profiting is well structured with great financial features.
Working with Romero pieto is the best thing that can happen to a beginner trader who is aspiring to be fruitful out of the market he is trustworthy and straightforward we surely need more men like him in trading world.
Good good content
Yes I'm a living testimony of Romero pieto his platform has also done a great thing for me.
I've seen so many review about this man called Romero pieto who is he ?
How much of this stock "happy business people doing business" footage does this guy have?
Yes
More than he needs, less than he wants
ALL OF THEM! :-)
Thank you for not mincing words and calling these classes a scam. The people who attend are indeed victims.
I saw one paper sometime ago that review something similar to this video.
It showed scams have to account for "false positive victims". This means have to sound convincing to a completely unaware victim, while also being clearly a scam to people in the field. This way they don't have invest time in a failed attempt, people in the know clearly seems it from the distance, the scammer avoid false positives by not being totally convincing. They prefer to go for easy victims only and that's why their profile and way of acting is so weirdly dumb or disgusting at times.
TL;DR
(Some scams are purposely dumb or disgusting so only easy victims fall for it)
Sounds like the story of asinine thumbnails.
Read the book âintegrity sellingâ. Itâs cheap and actually helpful.
What's the authors name?
@@GoWadka Ron Willingham
Thanks I was looking for a book about sales that would fit my personality type. This may well be the one.
Great video, your content is worth viewing for all ages
Thanks!
My two year old found it pretty boring tbh.
@@tbird81 lmao
Never thought of this. Thank you very much for the insight. I will now use this information to make myself a worse person and a better businessman
That sales funnel honestly explains life a lot. I see ads spammed on every screen that I'm near and me and my family are not interested in them. They must work to some degree otherwise it would just be a wasted expense. So they do actually work but its like casting a large net to get a small group of fish. But they still got the fish so they will gladly cast the large net again.
"it's called a sales funnel because a certain number of customers are lost at every level."
That's exactly the opposite of what a funnel does. It's more like a sieve or a filter.
And?
@@vuufke4327 or?
Because it will look like the shape of a funnel. A funnel is wide at the top and thin at the bottom
But I get what you mean
@@christianvannucci6455 thank you! I could understand "vortex" but "funnel" implies they catch more and more potential clients (even ones who were initially disinterested)
âIt is right to learn, even from the enemy.â -Ovid
Back in the day I use to have a picture of the Korea guy on my wall of motivation. Because of people like him I taught myself how to make money. I still don't know his name lol
Never did any courses. Just a lot of reading and watching YT videos.
funnels aren't supposed to be leaky. yet more evidence that marketing type people aren't very bright.
You need to understand that they don't care if the funnel leaks as long as it converts. They're seeking naive, non-experienced people who want to improve their lives. This is most of the population. They just need less than 1% of the population to buy to become millionaires. They're not great salespeople or marketers. They're just good enough to fool people.
That's why once I figure their game out, I try to not engage at all. No comments, no views, or anything. Even though I suppose this video gives them a small push, I'd like to believe it does more good than harm. Keep up the good work. I enjoy your channel.
I don't know, GC seems genuine!
I've been following him for five years, and I agree. He uses the same tactics, but I think he actually has something to offer
I mean, itâs noy just them though. Itâs litterally everyone. Even just job hunting, you are selling your services. You have a funnel (you send out job applications, only a handful will respond, and even fewer will interview you, and yet even fewer will give you an offer AKA buy your services).
The only difference is in what you are selling. A job seeker sells his time and labor. These guys sell courses and other products.
I donât really see why we need to distinguish between them and us as if we are good guys and they are bad guys. Weâre all literally playing the same game.
Successful people donât become successful overnight. What most people see at a glance-wealth, a great career purpose is the result of hard work and hustle overtime.I pray that anyone that reads this will be successful in life.
Speaking of being successful. I know am blessed if not I wouldnât have met someone who is as spectacular as Mr John Sears
I been surviving through my investment with him, am so glad I invested when I did. Am earning $15,000 every two weeks with him
Investment is the tiny line that separate the rich from the poor
Wow amazing to see others who trade with Mr John sears Iâm currently on my 5th trade with him and my portfolio have grown tremendously. All my financial goals have been achieved since I Met John sears.
Mr John sears have changed my financial status for the best, all thanks to my uncle who introduced me to him.
The problem is that these people tend to fade into obscurity after a few years. This tactic gives you a horrible reputation for the rest of your life, so it's only good for anything if you just make a bunch of money for a few years, but then never again. A better strategy is to give people something they actually want/need, a valuable service, building up their trust and then keeping that trust.
I really hate how short term-focused US economic thought is in practice. Everything is about making as much money as possible in the next quarter, damn the consequences.
Interestingly, all the guys who I recognized in the video have been around for a while. Several of them have a strong following with many repeat customers
" Their brand is a rich online Douchebag ". True and Hilarious.
One of my really good friends attends the 10x event as a diamond member every year. Wild.
The last & only time I got duped was when Don Lapre dropped his program to $40. Then I got his stupid great idea video where people would go to stores & shop video screens. The item would then be shipped to your home. He was close but I thought "That is really dumb. Why would you go to the store and not even have something to bring home?" They also hounded you to sign up for 900 numbers (to earn passive income) no matter how little money you had. I knew that was played out. The new "money gurus" really have it easy just repackaging old programs and getting people to pay monthly subscriptions.
Not everyone can understand this, but when you're actualizing your potential, living in your purpose, and optimizing a results driven strategy the bullsh*t practically sells itself.
The
"yes, that Brand is a Rich, Slimy D-bag." AMAZING.
I think they are selecting for people who are more gullible, desperate, submissive, etc, so they won't question the program. They make most of their money on the customers who get sunk costed in, not the people who buy the first course and drop it because it isn't worth the money.
A lot of people want to be scammed
I don't think you mean scam gurus have been around since the advent of modern capitalism, they've been around since the advent of civilization. You said it yourself, the snake oil salesman phrase has its history in the middle ages prior to any modern conception of capitalism.
A good spinoff vĂdeo, is how to find good way to get trained on sales or marketing, i have founded very hard on how difficult it is to found good sales or marketing courses, not Nigerian princes, those are way to common.
A lot of sales techniques border on sociopathic.
You are going to laugh at this, but Grant Cardone, the star of this video, actually has the best sales training that I have seen. Tbh, I have only seen a few though
Meet Kevin makes so much more sense now lol
Moral of the story: You gotta find a way to make money yourself! No guru is going to sell you something that works because then it becomes ineffective once everybody is using it, take every bit of information available and innovate or invent something yourself by putting it all together. Learning how to solve problems and scamper ideas is probably a more valuable skillset you can learn instead of the bs gurus try to teach you in those courses.
that woman staring at 5:52 with those emotionless eyes is haunting
Well, one thing that I can give to Tai Lopez is that he monetized his public speaking skills. Which is actually genius. That's something to learn right there. Anything you have, try to monetize it
You mentioned that you are a west coast banker! You should do some coaching videos on the banking landscape and deal flow on the west coast. What bank do you work for btw?
Another great video!
I was a salesman in Chevy and Honda dealerships many years ago. Today, I run a multimillion-dollar international business. As someone always in sales, I agree with most of the things that you said. Yes, those âgurusâ are actually scammers.
However, I have invested less than a thousand dollars in Grand Cardone training, whether itâs books or video training. I can tell you that I only benefited from it.
I donât recommend everything that Grand Cardone offers, 10X Rule and Sell or to be sold are the books that I recommend with 100% confidence.
The other âgurusâ you showed in your videos are absolutely trash scammers for sure. Thank you for this video.
They want you to think that they don't need you. They want you to think that they have so many customers that they don't need your business so they can be assholes. They want you to think that they're doing you a favor for taking your money.
Absolutely brilliant video, something to learn for sales force. Very well explained.
The best way to become a good salesman is to become a server at a restaurant. If you can successfully upsell the same food to 10 people in the same day with different tastes you can easily sell whatever is it that you want to sell.
Some of those financial gurus are incredibly amazing at their job. I work in the music industry, and there's an for a songwriting challenge that last one week and cost only 5 dollars. After taking the challenge, I was really, really hyped to go to a bootcamp that costed 300 dollars. During those events, the goal the so-called school was clearly to hype everyone up as much as possible, saying things like "those people will be you friends forever!", "Everyone gets emotional when it ends", and other nonsense that really do get into your mind - especially because you're super-passionate about the subject. This guy is such a ridiculous salesman that he managed to sell a 9000 dollars 1 year program to someone who lived in a van...!!! :O I myself deposited 1000$ to reserve a seat in that program but, after 2 weeks, I cancelled it, following their policy. I'm not saying that wasn't legit in the sense that this guy does have quite a lot of experience and few impressive credits under his belt; but at the end of the day, the goal is to over-hype passionate people so that they open up their wallet. He said to me that he'd give me jobs as a studio drummer, and I genuinely thought he was my friend, but, after I cancelled the offer, he just literally ghosted me - all of a sudden.
This goes to say that some of them are legit great at what they intend to sell you, they just figured out you could make a lot more money by not caring whether or not their "students" were doing well, and taking co-credits for everything the "students" do, like every song written that end up on the radio, etc. Basically they convince talented people that they need them and then take 50% of their rights. It's pretty damn clever.
its the same for digital art. the teachers are often unironically amazing at what they are advertising to teach, but looking back it really is emotionally manipulative.
Man this is gold đđ„ Ruthlessly calling âprestigiousâ sleazy salesmen like Grant Cardone a charlatan is like saying the king is naked when heâs wearing his fancy clothes that only idiots canât see.
A good product sells itself. The harder the try, the more red flags it raises.
Great video. Does anyone know the name of the creator?
Nice use of the JonTron snake oil salesman!
Love this channel
Thank you!
University is this just extrapolated x1000
I come at this from a different angle. I've spent over 1k on training material for sales, mainly through Grant Cardone, and it's been immensely useful. I made my money back a long time ago. As someone who's gone through courses by Dan Pena, Grant, etc, I do not agree with you.
As for the courses being useless. I would disagree with you on Grant Cardone U, the people in sales I know that have gone through it have found success, but it's training. It becomes useless if you don't study and practice regularly. Sales has a high turnover rate, and the unfortunate thing is that most will not make the sacrifices to be successful in this field.
Being a content creator and former banker I'm sure you understand that you can't please everyone. Some people will have nasty things to say about you, regardless of what you do. I completely agree that these guys, Dan Lok, Dan Pena, Grant Cardone, Tai Lopez, could be doing more to improve their image, but I'm not convinced that it's a marketing strategy. Some people just carry that attitude.
I love your videos. Even if I don't agree, I will continue to share and watch them. Thank you for showing me a different perspective.
Maybe you're just the exception to the norm
The problem with a lot of these guys is they charge a lot money for courses that you can learn for a lot cheaper. And sell you a dream that you'll be rich if you just follow these steps. It's not that the information they're selling is useless, it's nothing exceptional or magic. And you're right, it takes practice and consistency once you learn some of the basics.
Dude, you sound like you're reading from a script.
It's the same in other industries, such as the fitness industry. The whole "lose 50 ilbs in one month with these simple tricks. Buy our training program and our nutritional products!" kinda pitch. Targeting people's vulnerabilities while making huge profits off of them.
Imagine if fake gurus used their charisma and tactics to help funnel desperate people toward an actually well designed course taught by reputable financial advisers offered at a reasonable price.
Thanks for this video and commentary!
A social media algorithm doesn't care too much whether the trend is stupidity or not. It puts the content out there. That's it, and this is the result.
If a company loses 20% of its sales through just financing issues..the company needs better management
I too like to poke holes in imaginary examples created purely for illustration to give off the illusion that I am knowledgeable.
@@Zxv975 what a great reply. Hilarious
@@Zxv975 ok ok Sherlock,calm down
got a guru ad on this video
There are multiple ways to make money thatâs not the problem, the rocky part is staying consistent, taking action and believing is going to work.
thanks for sharing. one of the best videos I have watched today.~~~
Just a heads up. Your Discord link is invalid.
That's the Wolf of Wall Street principle : there is no bad audience.
Finance "Gurus" are gurus until you ask them how they made their money. Then you will find these Finance "Gurus" never made it following their own advice .
Love this channel more n more!
Sucks that this sorta thing is legal
As a sales professional, I wish you didn't use Belfort. He's decent but still a bit of a hack - any real sales and marketing professional would laugh at someone saying they're at a Jordan Belfort level
Edit: by the way sales funnel is normally used for nonsales people. We say pipe
2nd Edit: Disagree about branding. If you're going to do marketing you really need to focus on value proposition and why someone would buy/do business with you.
Brand will only take you so far and it's also more effective if it's B2C, not B2B. No one does "buy from IBM" as much
I still remember those "KNOWLEDGE" Tai Lopez ads on every single video on CZcams...
9:03 "professional rich jerk" LOL
"There's no such thing as bad publicity"
In France one really over the top "young entrepreneur" guy became insanely famous after creating a mantra containing a very obvious and basic grammar mistake.
Then he for into a car accident with a Mercedes and it was made public the car belinged to his grandma.
You'd think that would end his career. Au contraire the guy is now making comical shorts making fun of himself and other gurus on tiktok and is very popular.
I feel like a funnel is a terrible word for that analogy, you typically don't lose anything when you try to funnel it... in fact it's designed to not lose anything and avoid spillage.
Sales filter would be more accurate, but probably not as easy to visualise.
Get a gravy boring job that has elements in it you find enjoyable, or start a biz with the same components and be smart with your money so you don't need a lot to live comfortably.
Also, don't try to monetize all of your hobbies or it's a fast track to eventually hating doing them because you'll be overdoing them.
Pretty much all you need to know except for investing in gold and silver and maybe some index funds.
And if you want to know how good their seminars are... this video passes that bar. And you just watched it for free.
How many stock videos of people looking at computers do you want?
How Money Works: Yes
You forget the most important: what they teach is how to make gullible people spend their time promoting the guru's products. So their best "students" are in fact working for nearly free for them.
A lot of these have a pretty loyal following of bootlickers who will absolutely dogpile you if you ask any questions. They seem to merge with the self-help genre quite often and make videos about how they utilize 16 different income streams to make like, 10-20 million/month.
I always wondered how accurate those were.