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ahmadmanga (73)in LeoFinance • last month

How Money Works Videos Summaries #threadcast

Below are video links along with their summaries, all from the Youtube Channel "How Money Works." These are all videos from around 2024, though some could be a bit older.

This is a valuable channel. Because of it, I learned a lot about #finance and #money. I had to put all the information here to train LeoAI!

#cent #bbh #freecompliments

last month in LeoFinance by ahmadmanga (73)

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ahmadmanga (73) last month

Why Tech Companies Frequently Hire and Fire?

Tech companies hire and fire frequently due to factors like diversification, monopoly, and bad management, leading to a cycle of growth and cost-cutting measures.

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ahmadmanga (73) last month

Reasons for Hiring

📈 The largest tech companies have been on a diversification spree, hiring extra staff to work on new projects and products.
🚀 Tech companies try to monopolize important services, making it difficult for new competitors to enter the market, and hire talent to prevent them from joining startups.
🤦‍♂️ Bad management also contributes to over-hiring, as companies grow and add more employees, managers, and departments, sometimes creating unnecessary roles.

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ahmadmanga (73) last month

Reasons for Firing

💸 During financial downturns, tech companies can fire employees to cut costs, as existing customers may not be spending as much and new projects may not be viable.
🚫 In bad market conditions, new companies may struggle to get established, reducing the risk of new competition and allowing tech companies to cut expenses without fear of repercussions.
📉 When many companies are laying off employees, it becomes easier and cheaper for tech companies to hire new talent, making it a good opportunity to get rid of underperformers.

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ahmadmanga (73) last month

The Trillion-Dollar Data Industry

Big tech companies have become obsessed with collecting user data, which has become a trillion-dollar market, with companies like Facebook and Google at the forefront.

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ahmadmanga (73) last month

Data Collection and Monetization

📊 Big tech companies collect thousands of data points on users, including age, income, and browsing history, which are used to create detailed user profiles.
📈 The value of user data lies in its ability to be used for targeted advertising, market research, and other business strategies.
💸 Companies like Snowflake, Teradata, and Palantir specialize in compiling and managing billions of data points, making them worth billions of dollars.
🚀 The cost of storing data has decreased significantly, making it easier for companies to collect and analyze large amounts of data.

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ahmadmanga (73) last month

The Impact of Big Data on Business

💼 Companies that collect and utilize user data effectively have a significant advantage over their competitors, making it harder for new companies to enter the market.
📊 Microsoft found that providing business-to-business sales executives with detailed market analytics improved their productivity by 30%.
🚗 Tesla's collection of driver data has given it a significant edge in the electric car market, with a higher earnings multiplier than legacy car brands.

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ahmadmanga (73) last month

Data Analytics and Security

📊 Companies like Snowflake, Teradata, and Google's BigQuery provide data analytics services to help businesses make sense of their data, with prices ranging from $250,000 to $5 million per year.
🚫 Guardio, a browser extension, provides online security features, including phishing protection and malicious extension protection, to help protect user data.
📊 Advanced algorithms, such as machine learning, are being used to analyze data and provide valuable insights, making it easier for companies to cash in on their data.

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ahmadmanga (73) last month

The Dark Side of Big Data

🕵️‍♂️ Hedge funds are buying consumer credit and debit card transaction data to monitor retailer performance and make profitable trades.
🚨 User data has become a new type of currency, impossible to tax and can be spent multiple times, making it a lucrative market for companies to exploit.
🤝 Companies are willing to pay a premium for exclusive access to customer data, highlighting the value of user information in the digital age.

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pele23 (73) last month

If you don’t have to pay for the usage of infrastructure, you are the product!

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ahmadmanga (73) last month

Of course!

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ahmadmanga (73) last month

Disney's True Business

The Walt Disney Company is a multinational operation that employs roughly 190,000 people, but it's not primarily an entertainment company, rather a legal firm that sometimes makes movies.

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ahmadmanga (73) last month

Company Structure and Operations

🏢 The company is broken down into two corporate verticals: Parks, Experiences and Products, and Media and Entertainment.
🎬 The Media and Entertainment arm handles content creation through its seven studios, including Disney Pictures, Pixar, and Marvel.
📈 Disney operates on narrow margins, with a pre-tax profit of $5.3 billion in 2022, and its revenue from theatrical releases contributes to less than 5% of the company's top line.
📊 The company uses Hollywood accounting to reduce its taxable profit, which allows it to depreciate patents and designs as operating expenses.

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ahmadmanga (73) last month

Disney's True Business

Legal Team and Lobbying

🚀 Disney's legal team is one of the most effective in Washington, with the company spending $46 million on lobbying between 2010 and 2021.
📜 The company has successfully expanded copyright protections twice, in 1976 and 1998, which has increased the value of its intellectual property portfolio.
💼 Disney's top lawyer, Horatio Gutierrez, is on track to be one of the highest-paid lawyers in the US, with a potential salary of over $21 million.

Intellectual Property and Acquisitions

🤝 Disney has acquired several companies, including Lucasfilm, Marvel, and 21st Century Fox, to expand its intellectual property portfolio.
📈 The company's acquisitions have allowed it to create a legal monopoly on its works, with copyright protections lasting up to 120 years.
📊 Disney's revenue from licensing its intellectual property, such as toys and theme park tickets, is a significant contributor to its top line.

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ahmadmanga (73) last month

Disney's True Business

Reedy Creek and Self-Governance

🏞️ Disney's largest park, Disney World, is located in the Reedy Creek Special Administrative District, which is a municipality controlled by the company.
🚫 The district was dissolved after a legal battle with the state of Florida, but Disney is trying to get it back by having the law repealed.
📊 The loss of self-governance is expected to cost local taxpayers an additional $163 million per year to maintain public services.

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ahmadmanga (73) last month

Why Multi-Level Marketing Companies Are Worse Than Pyramid Schemes

Multi-level marketing companies, such as Herbalife and Amway, are often mistakenly referred to as pyramid schemes, but they are actually worse due to their legal structure, financial exploitation, and damage to relationships.

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ahmadmanga (73) last month

Reasons Why MLMs Are Worse Than Pyramid Schemes

📉 The average return for a victim of a pyramid scheme is around 90% of their invested capital, whereas the average return for an MLM is around 30% of their invested capital.
🚨 Even the people at the top of MLMs often struggle financially, with many losing money despite their high ranks.
🤑 MLMs make money by selling overpriced products and seminars, rather than through legitimate business practices.
📊 The financial figures seen on income disclosure statements are top-line revenue figures and do not account for additional expenses, which means even top members end up struggling financially.
👥 MLMs target isolated cultural groups, such as Mormons and migrant communities, who are less aware of the industry's reputation and more trusting of their own community.

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ahmadmanga (73) last month

How MLMs Exploit Their Members

💸 Members are encouraged to spend money on material displays of wealth to lure people into the business opportunity.
📚 Top members host conferences and sell overpriced books, seminars, and courses, generating additional revenue with high margins.
🚫 Members are told to cut off communications with friends and family who don't join the business, making it hard for them to leave the scheme.

The Damage Caused by MLMs

💔 MLMs ruin people financially, but also damage their relationships and social connections.
🌎 Pyramid schemes may have never worked in the shadows to subvert democracy or run the world's largest mercenary organization, but some MLMs have done so with their multi-billion dollar fortunes.
🚫 The business structure of MLMs forms multiple pyramids, each with a charismatic leader, and is heavily segregated by race and religion.

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ahmadmanga (73) last month

The Changing Landscape of Entry-Level Jobs

The concept of entry-level jobs has changed, with many now requiring 3-5 years of experience, making it difficult for new entrants to join the workforce.

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ahmadmanga (73) last month

The Changing Landscape of Entry-Level Jobs

Reasons for the Shift

📊 The ease of applying for jobs online has led to a flood of applications, causing companies to implement more stringent requirements to filter out candidates.
🚫 Companies want to cover themselves from potential lawsuits by listing unrealistic job requirements, allowing them to hire whoever they want without being held accountable.
📈 The rise of internal promotions has led companies to increase job requirements to exclude internal candidates who may not meet the new criteria.
💬 Employers want to assess a candidate's ability to handle challenges and demonstrate soft skills, such as dealing with difficult customers or coworkers, which is more valuable than just having experience.

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ahmadmanga (73) last month

The Impact on Job Seekers

📊 Job seekers are encouraged to apply for jobs even if they don't meet all the requirements, as employers often look for candidates who can demonstrate their ability to handle challenges.
📈 Changing jobs every two years can lead to higher earnings, and having experience in different companies is more valuable than long-term tenure at a single employer.
📚 Developing skills such as data analysis can help job seekers stand out from the competition and increase their chances of getting hired.

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ahmadmanga (73) last month

The Role of Technology

🤖 Artificial intelligence is being used to help companies find the best talent, with tools like application tracking systems (ATS) and AI-powered resume screening.
📊 The use of AI tools like Zetti, Jobscan, and Rezi can help job seekers optimize their resumes to pass through AI-powered screening systems.
📊 The shift to online job applications has made it easier for people to apply for multiple jobs, but also means that companies receive a high volume of applications, making it harder for candidates to stand out.

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ahmadmanga (73) last month

The Unseen Costs of LinkedIn

LinkedIn is a unique social media platform where users often brag about their work and share appreciation posts for companies that have laid them off, creating a culture of corporate worship and self-comparison.

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ahmadmanga (73) last month

How LinkedIn Generates Revenue

📊 LinkedIn creates a digital marketplace for people, allowing companies to post job listings and boost visibility by paying directly.
💼 The platform provides recruiters with tools to search for candidates, reach out to them, and advertise new roles, giving hiring managers significant power over job seekers.
📈 LinkedIn achieves high revenue per hour by extracting value from its users, with the average user being worth 76 times more than the average Reddit user.
📊 The company generates revenue through its lucrative job recruitment services, forcing self-comparison and creating an imbalance of information between users and potential employers.

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ahmadmanga (73) last month

The Negative Impact on Careers

👀 LinkedIn creates an imbalance of information, making it easy for users to give too much information about themselves while companies share limited information about job expectations and salaries.
🤕 The platform forces self-comparison, making users feel insecure about their careers and more receptive to buying career development services.
📚 LinkedIn promotes the collection of certifications, which can be meaningless and have no correlation with job performance, but are used by recruiters to convince managers to hire new candidates.
🙏 The platform fosters a culture of corporate worship, where companies encourage employees to have a strong presence on LinkedIn, creating overwhelmingly positive feedback and making it difficult for managers to acknowledge areas of weakness.

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ahmadmanga (73) last month

The Reality of AI-Based Wealth Creation

The idea of making $300 a day with ChatGPT is a myth, and new AI programs are not a viable path to wealth. AI can perform impressive tasks, but it is not a replacement for human effort and expertise.

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ahmadmanga (73) last month

The Reality of AI-Based Wealth Creation

Limitations of AI in Wealth Creation

🚫 AI-generated content is not as good as content created by humans, especially in fields that reward top performers.
💸 Creating fully automated YouTube channels using AI is not a guaranteed way to make money, as YouTube's algorithm prioritizes content from dedicated creators.
📊 Drop Shipping and other similar business models have significant weaknesses, including competition from established companies like Walmart and Amazon.
🤖 AI programs like ChatGPT are not suitable for financial advice, as they don't understand personal financial situations and have outdated training data.

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ahmadmanga (73) last month

The Risks of AI Hype

🚨 The AI hype can lead people to believe that AI can make them rich quickly, but this is often a false promise.
📈 Financial education is lacking, and people may turn to unqualified individuals on the internet for advice, which can be harmful.
📊 Investing is a long-term and boring exercise that requires discipline, and AI is not a substitute for human expertise and experience.

Staying Sensible in the Face of AI Hype

👊 It's essential to be cautious of clickbait titles and videos that promise easy wealth creation using AI.
📚 Education and understanding of AI's limitations and potential are crucial to making informed decisions.
💼 Hard work and traditional business practices can be more effective than chasing trends like AI.

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ahmadmanga (73) last month

Financial Challenges for Young People

Young people face significant financial challenges, including unaffordable homes, scarce job opportunities, and financial meltdowns, making it difficult for them to get ahead financially.

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ahmadmanga (73) last month

Introduction to Financial Challenges

📊 The biggest financial mistake is being born after 1980, with unaffordable homes and high college tuition fees.
📈 Millennials are having a difficult time affording down payments for homes, with 40% of homes in America owned free and clear by older generations.
📊 Tech billionaires like Bill Gates and Mark Zuckerberg are examples of successful individuals, but their success is not solely due to their intelligence or ambition, but also their birth year and investment opportunities.

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ahmadmanga (73) last month

Job Opportunities and Career Advancement

💼 Working a job is how most people build wealth, but job opportunities are scarce, and the average age of retirement is increasing, leaving less room for young people to move up the corporate ladder.
📊 Despite making more money than previous generations, Millennials are less wealthy due to the high cost of living in cities where high-paying jobs are located.
👥 Older generations controlled 22% of the nation's wealth compared to 7% controlled by Millennials, creating a chicken and egg scenario where older generations need wealth to retire, and younger generations need older generations to retire to build wealth.

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ahmadmanga (73) last month

Investment and Wealth Building

📈 Investing diligently for the long term can generate good returns, but younger generations may not have the same investment opportunities as older generations.
📊 Vanguard's projected returns for equities over the next decade are 4.1 to 6.1 percent annually, lower than the 11% returns in the past, making it harder for young people to save for retirement.
💸 The investment opportunity difference exists for normal people from different generations, with those starting their careers in 1970 having quickly compounded their investments.

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ahmadmanga (73) last month

Real Estate and Savings

🏠 Real estate prices are high, with 40% of homes in America owned free and clear, and rental prices are up, making it difficult for young people to afford homes.
📊 Existing homeowners can write off the interest on their home loan against their income, but renters cannot, reducing their ability to save money.
📈 Getting a down payment together can take over a decade of dedicated savings in high-cost cities, and young people who overcome this hurdle still face problems with high interest rates and property taxes.

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ahmadmanga (73) last month

Alternative Investments and Financial Planning

📊 More young people are flocking to alternative investments like cryptocurrencies and day trading, but financial fraud is at an all-time high, and younger investors are being affected.
📈 Financial planners suggest budgeting 70% of income for retirement, but with lower returns, young people may need to invest more to generate the same income.
💰 Having an average income today means living a less comfortable life than someone with an average income 40 years ago, and young people need a dedicated and fairly aggressive savings plan to build wealth.

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ahmadmanga (73) last month

The Dark Side of Entrepreneurship

America's obsession with entrepreneurship is costing everyone a lot of money, even if they never start a business of their own, with 5 million new businesses started last year, a 42% increase from pre-pandemic levels.

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ahmadmanga (73) last month

Problems with Entrepreneurship Culture

🚨 Most people are not good at business, with the largest demographic increase in new business owners being young people between 18 and 35, who have a significantly higher rate of failure.
📊 The average age of a successful startup founder is 42 years old, and founders below 30 have a higher rate of failure, yet many are encouraged to start businesses without industry experience.
🚫 Businesses in trendy fields like tech, e-commerce, hospitality, and fashion have a higher failure rate than those in finance, construction, and healthcare, where industry experience and creditations are required.

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ahmadmanga (73) last month

The Hustle Bro Problem

🤑 Hustle Bros push products that make starting a business look easy, but it's not, and people are encouraged to enter the market without intention to start a business in the first place.
📈 The market for business services is highly lucrative and competitive, with a projected worth of $8 trillion by 2030, and companies want to push as many people into this market as possible.
🚨 This system relies on making it look appealing to start a business, even if it's not the best decision for everyone, and has been taken too far by Hustle Bros with courses to sell.

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ahmadmanga (73) last month

Starting a Business for the Wrong Reasons

🤔 Starting a business comes first, and solving a problem comes second, with many people starting businesses without considering what value they are providing to their market.
📊 A suspicious number of former Forbes 30 under 30 awardees have ended up in prison for fraud, highlighting the problem of young people being encouraged to start businesses without life experience.
💡 Gary Tan, CEO of Y Combinator, advises working in an industry, getting paid to learn, finding a problem, and then solving it, which goes against his company's business model, but is still good advice.

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ahmadmanga (73) last month

The Consequences of Entrepreneurship Obsession

🕒 Modern corporate jobs are highly demanding, and being your own boss is sold as a way to take back control of your life, but starting a business often means much less free time.
📊 A survey found that the majority of small business owners work at least 50 hours a week, with 25.5% working more than 60 hours a week, and 70% working weekends regularly.
🚨 The cultural obsession with entrepreneurship is used as an excuse to gloss over bad practices, with some fraudulent businesses costing investors and clients billions of dollars, and putting people's health at risk.

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ahmadmanga (73) last month

The Dangers of Mocking Financial Struggles

Personal finance shows that mock people's financial struggles can be harmful and costly to viewers, as they often provide little to no useful information and instead focus on entertainment value.

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ahmadmanga (73) last month

Problems with Personal Finance Shows

🚨 There's little to learn from these shows, and they can cause financial stress.
📊 The hosts are often wrong about basic financial information and give confidently incorrect advice.
🚫 The shows don't provide practical solutions to financial problems and instead focus on ridiculing guests for their financial decisions.

Issues with Dave Ramsey's Advice

🤦‍♂️ Ramsey advises paying off debt using the "debt snowball" method, which prioritizes paying off smaller debts first, regardless of interest rates.
📈 He recommends investing while paying off debt, even if the interest rates on the debt are higher than potential investment returns.
📊 Ramsey suggests living on 8% of retirement savings, which is higher than the recommended 3-5% by financial professionals.

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ahmadmanga (73) last month

Consequences of Trusting Fin-fluencers

🚨 People who trust finfluencers like Dave Ramsey may follow their advice blindly, leading to financial harm.
📊 The confidence of finfluencers can be damaging to their audience, as people may not question their advice.
🚫 The promotion of fraudulent businesses, such as timeshare exit companies, can lead to significant financial losses for viewers.

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ahmadmanga (73) last month

The Illusion of Middle Class

Most people believe they are middle class, but this perception is often inaccurate and costly. The term "middle class" has become meaningless, and its definition has changed significantly over time.

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ahmadmanga (73) last month

Definition of Middle Class

📊 The original definition of middle class referred to wealthy merchants or factory owners in early modern Europe.
🚫 Today, the term describes people who are not extremely wealthy but not poor, with a broad and practically useless definition.
🤔 The middle class is often associated with a certain lifestyle, including a regular home, two cars, and a vacation once a year.
📈 However, this lifestyle is unaffordable for many people, even those with high incomes, in areas with a high cost of living.

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ahmadmanga (73) last month

Problems with Assuming Middle Class Status

📉 Assuming middle class status can lead to poor spending and saving patterns, with 57% of Americans unable to cover an unexpected $1,000 expense.
👥 Many people identify as middle class despite being unable to afford a middle-class lifestyle, leading to financial stress and anxiety.
🚨 Thinking you are middle class can make you less likely to pick the right job, with many high-paying job opportunities in trades and blue-collar work being overlooked.
🤝 It can also make you more likely to take unnecessary risks, such as taking on debt or investing in scams, in an attempt to maintain a middle-class lifestyle.

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ahmadmanga (73) last month

Financial Consequences

💸 People who think they are middle class may be more likely to fall for financial scams, with younger adults on above-average incomes being 330% more likely to fall for investment scams.
📊 Even those who don't fall for scams may be more likely to have aggressive stock portfolios or engage in risky strategies like house flipping or cryptocurrency investing.
📈 Financial anxiety can hurt you in more ways than taking dumb risks, also making you less likely to take smart risks, such as asking for a raise or starting a business.

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ahmadmanga (73) last month

Social and Economic Factors

👪 The biggest predictor of financial stability is not academic ability, but the wealth of one's parents, with wealthier parents providing better opportunities and removing financial burdens.
📚 Children from poorer households may need to catch up financially, taking on student loans and building their own credit, and may be over-represented in groups with high incomes but low financial security.
📺 The media often portrays the middle and upper classes, creating unrealistic expectations and a sense of FOMO (fear of missing out) among those who feel they should be further ahead in life.

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ahmadmanga (73) last month

A Simple Yet Ignored Solution to Financial Fraud

The banking industry has a long-standing problem with fraud, costing clients billions of dollars annually, but a simple solution exists: forcing bankers to work from home. A recent study found that bankers are five times less likely to engage in financial misconduct when working from home.

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ahmadmanga (73) last month

Reasons Why Working from Home Reduces Misconduct

📊 Everything done from home is recorded, making it easier to track and prevent fraud.
📝 In-person conversations, which can lead to misconduct, are reduced when working from home.
🚫 The absence of private conversations between managers and staff reduces the pressure to push unwanted products onto clients.

Types of Conversations that Lead to Misconduct

💼 Bank managers may pressure staff to sell products, prioritizing targets over clients' best interests.
📈 Insider trading can occur when bank staff share material non-public information, which can be difficult to track and prosecute.
🙅‍♂️ Common lies to cover up negligence can be more easily hidden in face-to-face conversations.

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ahmadmanga (73) last month

Why Executives Won't Allow Working from Home

🚫 The systems in place to monitor staff for misconduct are too good, making it harder for executives to ignore or sweep misconduct under the rug.
👥 Being in the office allows for more flexibility to bend rules and negotiate with clients, which can be a selling point for businesses.
🏢 Companies have too much invested in their offices and may prefer to have staff return to the office, even if it means ignoring the benefits of reduced misconduct.

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ahmadmanga (73) last month

CEO Responsibilities and Tasks

A CEO's role is multifaceted, and their responsibilities can vary from company to company.

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ahmadmanga (73) last month

Key Tasks of a CEO

📈 Decide the company's direction, including goals, strategies, and decisions on acquisitions, new products, or expansion.
💸 Decide how the company's money is spent, including setting budgets, approving transactions, and making financial decisions.
📢 Act as the public face of the company, representing the organization to the public, media, and investors.
🔄 Dictate the company's culture and work environment, influencing the tone and values of the organization.

Setting Company Culture

📊 Create a culture that aligns with the company's goals and values by leading by example.
👥 Encourage a relaxed or professional atmosphere, depending on the company's needs and industry.
📈 Set expectations for staff behavior and performance, and ensure leadership teams model the desired culture.

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ahmadmanga (73) last month

CEO Time Management

📊 Spend time talking to people, including employees, customers, and investors, to gather information and make informed decisions.
📈 Allocate time for strategy development, financial planning, and culture-building activities.
📊 According to a Harvard Business Review study, CEOs spend an average of 62.5 hours per week working, with 25% of their time spent on people and relationships, and 72% of their time spent in meetings.

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