Personal Finance YouTubers Have Bigger Problems Than Just FTX

Finfluencers are doing Gods work, making sure dumb people do not have too much money. I am happy for them, they made millions and do mot have to do no jail time, it was brilliant!
Anyways, go buy crypto, doge to the moon by 2024! Or get some crypto eggs or whatever from Logan Paul, it's so simple ez miney 🤑🤑💎💎

So... these guys could do a lot of good, if they weren't doing so much bad. HILARIOUS.

Bad ones that I used to watch before I realized: Graham, Nate O’Brien (started shady partnerships), guy with turban last name Sikh I forgot the name but he always screamed bELOw, Our Rich Journey (keep saying they retired multi millionaires yet work on YT full time to make money).

Celebrity endorsements of finance is absurd.

No idea how you can do a video talking about selfish, corrupt financial "influencers" who have made more money off sponsorships, shilling and clickbait than through their supposed investment strategies without mentioning Graham Stephen, the OG King of shills. I have no idea how he hasn't been pulled off the platform. They got the "here in my garage" guy, Dan Lok has been exposed, but they can't get Graham?

Anyway, as for the other "financial influencers", I absolutely think these people should be held responsible. They make piles of cash shilling for products without knowing or caring whether they're legit or not, and they don't care if their audience gets hurt because of it. They'll SAY they care, but they don't. They care about one thing and one thing alone, making themselves as rich as possible. As such, I'd have no sympathy whatsoever if they were all sued into oblivion, their channels deleted, and their reputations destroyed. They don't care about us, so why should we care about them?

I love watching The Plane Bagel. I don't watch it for my personal finance but because I find the information very interesting.

I did listen to one person when it came to my personal investing and I am really happy with the advice that I have gotten. That person was Warren Buffet saying that if you don't know what you are doing invest in a cheap fee S&P 500 index like for example Vanguard.

If you look at the tech influencer scene many of them try and get away from tech sponsors where they can to minimise conflicts of interest or to take tech sponsorships outside of their niche. LTT is a perfect example of this where most of their sponsors aren't directly linked and they have a process where the department that deals with sponsorships doesn't deal with editorial work. They also take into account veiwer feedback and have dumped sponsors based on it.

3-21-23

Graham Stephen
Jaspreet Singh
Andrei Jiek
MeetKevin
Bit Boy Crypto

All being sued for $1billion

Lost a shit ton of money following ziptrader 90% sure he trades directly against what he talks about.

Great video. This is a hard trap to avoid for some creators especially when there are no real consequences for promoting products that harm your viewers. You can definitely make a lot more money when you don’t consider the real people who will follow the recommendations and lose money.

Masterworks could be the next company to cause financial harm

We have to be very careful of who to trust online. On my channel we discuss these finance gurus' methods.. and if they actually work!

Me as a financial influencer
Here is my list of top side hussles
#1 making stroke vids
Thanks for watching bye

Honestly I been watching Graham for awhile now I never felt like he pushed to make people recklessly spend in ftx some personal responsibility has to be made for the viewer he never said anything loaded statements like “you can get 2000% return if you sign up today” most of the time it’s just a promotional boost of like 10-20$ if they use his link but I wouldn’t say he was giving bad advice

Financial Planner here, You are dead on. Graham Steven and Kevin drive me nuts. I stay away from "finance" tube in general. All they make me do is yell "that's bullshit" at the screen.

With all due respect I find the idea of calling out influencers for ftx a bit stupid. Next what? Are we going to call out the marketing employees of FTX? If people don't have a basic understanding of what 'Influencer' means it's on them. As a society we have taken junk foods bcoz of celebrities, voted morons to public offices and what not.. who are we going to curse?

I mean what are proposing next? Asking models to conduct clinical trials before endorsing a beauty product which might cause allergies.

I know these influencers are stupid but it's high time we also start calling out the stupid viewers as well.

If you aren't watching Clear Value Tax, you're missing out.

How funny! "Crypto" means "hidden" - truth in marketing! Makes me nostalgic for the old days and Junk Bonds!

A good rule to live by is that the more the returns of a business opportunity improve on the normal return for a similar business, the more speculative it is. That's not to say that it's something that you shouldn't ever put your money into, but realize that the bigger the gap the more risk you're taking on, either that it fails or that it's an outright scam.

It's also worth realizing that if you put away a few bucks every paycheck into a conservative set of index funds, bonds and REITs, you can do very well for yourself over the course of many years with relatively little risk. The risk comes from putting it all into a smaller number of businesses and from not being in the market long enough.

I'm waiting for Masterworks' turn.

Correction for the video. Binance is the largest crypto exchange.

You shouldn't listen to a financial "advisor" paid by a financial company.
You shouldn't listen to a doctor paid by a pharmaceutical company.
You shouldn't listen to a mechanic paid by an automobile company.
You shouldn't listen to a politician paid by any company.

I hope this is the fall of the influencer scheme. But then again, stupid will ALWAYS flock to someone who is charismatic without question

Honestly hope this stuff gets regulated more in the future. Financially illiterate people leading even more financially illiterate people is essentially the blind leading the blind with potentially cataclysmic outcomes. A lot people don‘t even understand something as basic as compound interest. They probably don’t understand the risks they are taking by engaging in these kinds of activities, partially because those risks are never mentioned and they’re dependent on the individual’s situation. Finance is math and pretty complex behavioral psychology. I think it’s extremely dangerous to misrepresent it as something that is immediately accessible or profitable the way these influencers do. There needs to be more accountability with finance related content.
Sorry, just makes me mad to see people mislead into taking risks they might not be able to afford.

Thanks for this video, you bring up a lot of good points. I started my channel based on most of the guys you mention and have been a bit disappointed in many of them concerning FTX. Keep up the good work!

Now I have more knowledge about personal finance. I just subscribed to your channel. Big ups to everyone working effortlessly trying to earn a living while building wealth in this recession. I’m 42 and my husband is 40, we are both retired being financial independent, no debts. Currently living smart and frugal with our money. Saving and investing lifestyle in the financial market made it possible for us this early even till now we earn monthly through passive income.

only an idiot would believe a lair

Its no longer a ponzi scheme. It is a Fried scheme.

You tube has turned into You tubers hawking shit

how about raid shadow legend ads

The only thing that I understand with the founder of FTX is that he's the same age as me, is a dumb dumb, and a fraudster.

If you're dumb enough to invest in crypto you deserve what happened. Sorry not Sorry. Next time you'll think twice before going into FOMO mode.

I don’t agree that you need exhaustive math background to understand market investing, most loosers at the bank advising you to take mutual funds, aren’t math wiz. I also don’t think it’s fair to fully blame influencers for this.
It’s the world of investing, it’s your responsibility to diversify + know your risk tolerance + the role that ‘luck’ plays into this.
Some ppl made $$ in crypto + FTX + NFTs, many lost. If you put less than 20% of your $$ into this and the rest elsewhere, you’ll be fine.
Let’s take ownership of our conduct not blame others/influencers from our own doing. Do your research.

Let’s be honest, traditional finance dudes are usually white + male + extremely boring + not engaging + greedy/selfish. Let’s not make this exclusive to influencers.

people gamble with their money on many many things today. some win, MOST lost. as for Patrick Boyle he has not lost billon of dollars YET.

Nobody forced anyone to invest into FTX

If you listen such morones, you deserve to lose money.

Every financial goal requires patience, dedication and consistent spirit knowing that investment is currently the most lucrative business in the world, both NFT, real estate and Crypto shares are really positively changing people's lives.

I only ever took Graham and Kevin seriously when they spoke on real estate. When you go to a restaurant, order their specialities, their signature dishes. Dont go to Texas Roadhouse and order fish🤦🏾‍♂️

A hedge fund not doing much math is like a restaurant that doesn't do much cooking. There's no way that food is any good.

Humphrey Yang is great. He explains some finance subjects so that regular people can understand. He encourages his viewers to learn more about something before you invest in it.

I had been listening to a few of the people you talk about for a while now. However, the more I have seen, the more I find that too many people just take their word for it on what to do. I don't and stayed out of the FTX game. I watch their videos to get their VIEWS ON WHAT TO DO and things going on today, not to be told what to do. I think this is the biggest issue many people have.