Forbes Has a Fraud Problem!

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Disgraced Frank founder Charlie Javice has joined the likes of Elizabeth Holmes and Sam Bankman-Fried on a growing list of founders to be lavished with honors by the financial news outlet Forbes - only to later face criminal fraud charges.
“The Forbes 30 Under 30 have collectively raised $5.3B in funding,” tech investor Chris Bakke tweeted on Tuesday. “The Forbes 30 Under 30 have also been arrested for frauds and scams worth over $18.5B. Incredible track record.”
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[@PBoyle]

The first 100 people to use code BOYLE with the link below will get 60% off Incogni: incogni.com/boyle

[@mznxbcv12345]

atrick why shillfor the imf in the recent china debt crisis, sure theyre terrible but its simply that the USD being a reserve currency is not good thing . US prints, devalues floated currencies while it itself hardly has any inflation due to reserve status while the rest of the imf loan backed under restructuring deals takes the hit. I actually personally know Martin Shkreli he's a saint compared to IMF and worldbank. They're for profit venture vultures backed by the governments printing the "hard" currencies feeding on carcasses of developing economies after giving loans to elites and putting countries into debt traps charging interest even after receiving multiple folds the initial capital, they refuse to even give interest amnesty, much less a haircut. You cannot default on debts otherwise you get sanctioned back to the stone age so the worldbank/imf always gets its money. Basically how value is added to currency. IMF/Wolrdbank o risk investment, defaulting not allowed. Just look at IMF restructuring deals and what came of them, always disasters for countries receiving "aid". Egypt, Argentina ? Loan dictators for their yachts -> Float currency or no yachts > currency becomes fraction of fixed rate ->short term foreign capital flows in, buys whatever value is left > currency drops 80% after they sell everything after having bought the infrastructure for pennies on the dollar, leaving them paying compounding interest for the next 50 years

[@TremereTT]

I mean Times made Hitler(1938) and Stalin(1939) persons of the year. How many people did Forbes persons of the year kill?

[@wololocute]

Have you noticed Forbes list doesn't contain East Asian billionaires especially China as doing so is like going against political party which requires you to stay anonymous. Singapore, Vietnam, China, Japan and Korea are one party countries.

[@yaakgwa]

@@wololocute south korea actually follows the american neoliberal model a lot more closely than the others, with regularly shifting political parties (the current president is right wing, the previous one was center-left, the two before him were right wing, the one before that was center-left, etc.) which still remain liberal, pro-capitalist in character. this is in sharp contrast from its closest non-nominally communist neighbor japan with its entrenched LDP leadership. i suspect the extremely wealthy rather not have their wealth disclosed to a working-class public for other political reasons.

[@wololocute]

@@yaakgwa South Korea is externally Democratic but Internally it is ruled by Samsung, LG and Daewoo no mater which party government subsidies, legal matters are all handled by them.

[@01ai01]

Maybe Forbes should maintain a list of notable con artists. Then they can just shift profiles from these lists over to the con artist list. They can award fraud of the year titles, best long con, etc.

[@dca24100]

I think any list they have would qualify at this point

[@jaggillar6680]

Yes. This would be helpful for large corporations to use in choosing their board members and CFOs. From there? Politics.

[@DJRenee]

LoL 🤣🤣

[@pierrebegley2746]

To be fair, they're already doing that in every way but by name.

[@nidodson]

Musk would be winning most of those titles for still going without accountability.

[@jip230]

Isn’t Forbes a “pay for play” magazine and most of the articles are publicity fluff pieces? It makes sense that many of the articles would not age well. The type of people that need to buy good publicity are more likely to be fraudulent

[@spicypizza6116]

It’s just like Time’s 100 most influential people in the world. It’s been alleged that Harry & Meghan used money from their foundation to pay the fee to appear on the cover as as one of the 100, as well as paying for several of the awards they have recently received. While it’s not surprising that fraudulent people are more likely to buy good publicity, one would expect these magazines and institutions to have more principles.

[@dondumitru7093]

Forbes is well-placed right in the middle of the "financial news" sector - Forbes doesn't deal in actual financial information, Forbes deals in entertainment and in selling the reader on the illusion that the reader is somehow participating in the glossy world of success that Forbes (artificially) portrays.

[@alhollywood6486]

They are notorious for pay for play. Malcolm Forbes would be turning in his very expensive grave if he saw what a joke of a brand his namesake has become.

[@boldCactuslad]

What do you mean "a" pay for play magazine? They're all like that...

[@jip230]

@@dondumitru7093 right, it’s an entertainment magazine without any real substance. I’d expect most of their articles to age like rust. I’m in Bay Area and I’ve known some people that were on this list in years past and I’ve personally known these people to be garbage. They’d have to pay someone for that accolade because they’d never earn it on their own merits

[@corinnem]

Forbes 30 under 30 list is like the precursor to the FBI most wanted list.

[@Kaitydid74]

That’s fantastic

[@LoisoPondohva]

It's the candidate list

[@dkerr6449]

Yes, it's like the Triple A team from team for the Most Wanted. Good insight!

[@chuachua-hj9zd]

Actual and humorous

[@dosman3458]

hahahaha yes

[@youtubeprofile2070]

A guy named Harsh Dalal made the Forbes' 30 Under 30 Asia list in 2021. His name was subsequently removed from the list after a tech publication raised questions over several of his lofty claims. The list should be taken to mean "30 douchebags most likely to spend time in jail under 30"

[@kathduncan9618]

🤣

[@chuckbiscuits7569]

Or 30 sociopaths who can play finance cheerleaders, oops I meant journalists, like credulous halfwits.

[@stephans1990]

I'm still surprised at how easy it can be to fool journalists. I recall this case of a 13 year old boy who managed to convince a New York Times journalist he was a millionaire stock trader. The only tangible thing he showed was that he paid for a 200 dollar dinner. I live on the other side of the world and reputable economic news outlets reported on that story without any questions.

[@dianaverano7878]

Haha

[@grogery1570]

Isn't that a bit harsh? Shouldn't it be "30 douchebags who were so narcissistic they paid to advertise in our magazine"?

[@dereklinscott8488]

Considering that the Forbes fortune came from fraud in the first place, this is poetic.

[@stephhhie17]

What was the fraud that they got their money from?

[@sjm8510]

@@stephhhie17they made their money trading opium from china.

[@friendo6257]

What fraud?

[@zarinaromanets7290]

What's their backstory?

[@NoScrubZz]

It’s important to note that you can apply/pitch yourself to end up on the list, which tracks if you consider how narcissistic all these fraudsters are.

[@gaerekxenos]

Actually... that clarifies why there is so much fraud on the list, since the only reason you really want your name on the list yourself is if you are trying to sell yourself. And if you are trying to sell yourself, you haven't actually *made* it yet since people aren't actually all that convinced that what you are trying to sell is actually significant enough to go all-in with investment on Unfortunately, being on that list also means you're now going to be scrutinized deeply and investigated on every level by basically everyone for people to consider whether you're actually worth the investment, compared to being a no-name. So... it's a terrible move unless your record is squeaky clean. LOL. Who'd actually want to volunteer their name for that list to have their entire lives picked apart by investigators hired by investors all over the world? No sane person of course. But these magazine writers need to make a list and don't have the proper time nor resources to do a thorough investigation, so they'll take whatever names were offered up, so all of the self-pitched fraudsters have a considerably higher chance of making the list due to their need for self-promotion

[@monus782]

I’ve read somewhere that CEOs tend to be psychopaths (or rather people who lack empathy are attracted to those positions and are more willing to do anything to get it is my guess) so if that’s the case the list makes sense

[@yeskaitlyn8029]

why is that narcissistic. being on the list can open doors from you. most people are just jealous of those who make the list

[@daverbook]

wrong.@@yeskaitlyn8029

[@movestattoo4561]

@@yeskaitlyn8029most people don’t even know that list exists. Whole operations of Forbes are just for scammers to try and get legitimacy for their scams, so they can tell “appeared on Forbes”.

[@SuperCrabbycrab]

I'm amazed it took people this long, to see Forbes under 30 is a scam. We had a Forbes under 30 as Creative Director where I worked 7+ years ago. I ended up doing the majority (if not all of the creative work), and him doing literally nothing except writing about the work that's been done (me and the developers work). I quit. Found a new job. I'm now 34 worked my way up to Head Department and strategy in an innovative IT company. That Creative director is now working in a deadend with some blockchain and NFT stuff. Whatever that means. Since working with that guy, any Forbes under 30 is a big red flag to me.

[@melody3741]

Was creativity even his specialty? Or was he just supposed to direct you guys?

[@melody3741]

This might sojnd weird but I think you’ll understand what im trying to ask

[@NotLordAsshat]

Literally the only person on that list I can think of that's just an actually impressive individual is Eric Barone, guy that made Stardew Valley.

[@jemm113]

Yeah Eric is based af since Stardew Valley was literally all made by him! Even when he got help from a publisher, they only helped with non-game related things like the wiki and website.

[@tamarat9735]

yeah, a lot of these people either became successful by being shady, and/or just putting the most effort into their own PR - taking credit for other people's work, doing aggressive personal branding, dodging difficult questions, and only communicating with journalists for fluff pieces like Forbes 30 under 30, and straight up lying. Forbes falls for it so much, that I think at this point it's not an accident but the whole point of the list.

[@ToDreamOfJade]

I did not expect to be crying laughing in the first minute of this very seriously titled video but I'm losing it at "because that's where you thought books were supposed to go"

[@b.f.2461]

Honestly, if I had a garage, my book collection would probably start spreading there. Now I have to prune, and it hurts.

[@Flor-ian]

*"One Criminal and then a bunch of junior bankers who do the coffee run at CS"* had me crying thank you for the video and the laughs Patrick.

[@copperdaylight]

He basically said, a crook and a bunch of crooks in suits.

[@Flor-ian]

@@copperdaylight *[29 publicists and 1 criminal disliked that]*

[@ElSantoLuchador]

The first time I heard of Elizabeth Holmes was in the pages of MIT Technology Review. She received an award for being one of the top ten innovators. She duped all of Silicon Valley, the Washington Post, and the NYT. Hindsight is 20/20. Forbes is but one name on a very long list.

[@cybercop0083]

She duped the US government. Everyone loved Theranos

[@TheEndKing]

You were probably too busy wrestling to hear of Elizabeth Holmes, that's alright.

[@LastWordInSilence]

IMHO, she got all this attention because society and (Wall Street investors) were trying desperately to find The wonder woman of business world , the female inventor, the whizz kid and here she was the female version of Steve job.

[@ChimpFromSpace]

I'm not convinced you're the real El Santo...

[@Kai-tn4yx]

Medical experts always warned it was fake. They should have asked them, instead of "financial investors".

[@joe3276865536]

"Trevor Milton the bargain basement Elon Musk.." never fails to get a chuckle. So good.

[@ytucharliesierra]

*bargain bin 😉🤣

[@piccalillipit9211]

*PATRIC BOYLE IS PROOF* that nothing is boring if you have the right teacher...!!

[@Triad72]

This is slowly turning into a finance comedy channel, and I'm glad I'm here for it

[@whoeveruwantittobe]

The joke about cigarettes being the new crypto and the Newton being the first gravity powered truck had me reeling.

[@swb3248]

Patrick, so glad you speak openly on subjects that others would not want you to. Keep up the good work!

[@Miata822]

"Shoeshine boys were the Finance KZbinrs of the Roaring '20s." Almost fell out of my chair. Deadpan glory in its delivery. @Patrick, you missed your calling in stand-up.

[@eddenoy321]

That was a great one, I agree.

[@q-chan4764]

I almost spit out my food😂😂😂

[@michaelbraun9750]

​@@q-chan4764 major mistake on your end, mate, never eat or drink while watching him. 😅

[@alexnoman1498]

11:20

[@troodon1096]

I prefer to phrase it as finance KZbinrs are the shoeshine boys of the 2020's.

[@HenryTitor]

Forbes is like the Nobel Peace Prize of the financial world

[@Chris-ci8vs]

*Nobel Peace Prize. The science Nobels and some of the literature ones are legit.

[@we8608]

No. It really isn't. It's more like white America's rep sheet.

[@theordinarychannel9334]

@@Chris-ci8vs Henry is referring to the background of how & why Alfred Nobel started the prize ,you know after making it possible to blow shit up.

[@juanchoresultay2704]

Exactly 😂

[@rasputin2k851]

​@@Chris-ci8vs no literature is legit. It's make-believe stuff about nothing.

[@danparish1344]

The magazine cover analysis is interesting. I’d be willing to bet that these sociopaths strategically lobby to be on the cover to help legitimize their scams and keep them running for a bit longer.

[@nineteenfortyeight6762]

They buy a spot

[@ACrownofFlowers]

I don't understand how this man managed to keep a straight face through all of that. 😂

[@JohannRosario1]

Aaron Sorkin would simply call it GOOD WRITING.

[@ACrownofFlowers]

@@JohannRosario1 hahaha. True.

[@Lumposaurus]

What I always find interesting about so many of these scammers is that for many of them, when you ask actual experts in the field, they will often tell you that what they are claiming is impossible. Elizabeth Holmes is a great example. Everyone who knew anything about medical testing was saying that her claims were 100% impossible. Holmes even played it up saying the ridiculous and probably imaginary quote that first they laugh at you...etc. and making fun of the "Alleged experts" and surprisingly the experts were right. So the people who should have known better, actually knew better.

[@isaacchassman6453]

Dude “shoeshine boys were the finance KZbinrs of the roaring twenties” 😂 😂😂 that’s just too much

[@J.C...]

It should have been obvious Nikola would fail. They can't even design or build a truck properly. They couldn't even get the back half of the truck to be the proper height. Look at how the the trailer is angled and the front of it is higher than the top of the truck. The trailer attachment point should be 8-12 inches(like 20-30 cm) lower.

[@hillbilly4895]

"Making finance entertaining month after month is really hard" ~ Forbes "Hold my pint..." ~ Patrick Boyle

[@Seriouspatt]

Let's not knock Forbes too hard. It has a knack for spotlighting the most unscrupulous, mendacious characters long before their inevitable tumble from their ill-gotten pedestals. It's like a sneak peek into the hall of fallen fame. We wouldn’t want to miss that, would we?

[@saltmerchant749]

The threat of "lose of access and ad revenue" has basically killed any sense of independent journalism.

[@elegantwalker]

Why does Forbes still exist?

[@CARATMom]

I would love to see a review on how Forbes “estimated” Kylie Jenners lip gloss company to be worth a billion. Or how her mothers isn’t in jail for fraud? Or how do estimations even work? Because how does JP Morgan pay 100 million for a company that does not work?

[@CameraMystique]

Sometimes I'm wondering whether "Fraud" is actually a new official industrial sector.

[@zurielsss]

No it’s one of the oldest industries by men 😂

[@PapaCharlie9]

Good one! My retirement portfolio is definitely underweighted in fraud. I guess I should buy some ARKK.

[@tookitogo]

No, it’s not new. It’s just called “investment banking”!

[@nedcurfman3486]

So deadpan I do a double take every time you slip a joke in. Your delivery walks the fine line between the cadence of a technical how-to video and satirical news.

[@craigrussell7542]

Ahhh, companies. I worked for a firm that ran a brief "healthy eating" program. At the end the reward for staff who participated was a hotdog lunch. My branch asked them to donate the funds for this bizarre "reward" to a food bank instead.

[@rogergeyer9851]

Craid Russel: It wouldn't surprise me if the person who came up with the "wonderful" idea for that reward was some highly paid VP.

[@danoberste8146]

The thing I don't like about Patrick's videos is that without a laugh track I worry that I'm missing some of his jokes. 🤣

[@evannibbe9375]

I would absolutely hate a laugh track.

[@danoberste8146]

@@evannibbe9375 Oh me too!!! It's just that his funniest lines are delivered soooo deadpan that if my attention drifts I probably would miss some. Patrick is HILARIOUS, I love it.🤣🤣

[@GSimpsonOAM]

That is to encourage you to watch it again in case you missed one.

[@TisDana]

Slow the playback speed? 🤷🏻‍♀️

[@dontich]

I was on the list a couple years ago - you basically nominate yourself and I am pretty sure they just rank people by amount of funding their startup has raised - which is a very iffy metric to rank people by.

[@Mielipuolisieni]

They'll never catch me now that im over 30 having not been on the forbes list

[@mitchellthurman]

THAT VELVET SMOKING JACKET THOOOOOOOO!!!!!! seriously, love that jacket.

[@midimusicforever]

I am impressed that you resisted the urge to make any references to Jim Cramer through that entire video!

[@francoisbertrand7612]

The funniest dry humour out there. Great job. 😂

[@CidZAER]

Your relentless, deadpan delivery with the jokes has me dying, sir! 🤣

[@victorfranca85]

the key is to work at forbes to avoid being discovered as a fraud

[@deadpan_delivry7476]

You've inspired me to get all of these and frame them for my office wall

[@technowey]

I never feel bad, because I don’t define success by either wealth or fame.

[@willdean-stobie5730]

Between Forbes and Times they have a terrible track record. Some of the Times person of the year have been downright appalling.

[@JoTheSnoop]

With Time Person of the Year, it was about the person who has been the most powerful and has some form of influence(no matter if it was good or evil) on the whole world that year.

[@t0dd000]

What is so sad is seeing folks who may have had a great idea succumb to the succubus called money and insta-wealth. FTX is a perfect example. It was an outstanding service. All it has to do is continue the service and stay on the straight and narrow. It was better at what it did than all of its competitors. Alas, kids + heaps of money leads to lots of excess, corner-cutting, debauchery and fraud … and now, prison. Sad.

[@94115david]

The whole thing is very sad.

[@FrancoisHBear]

Great to see Milton from Office Space is finally getting some recognition 😂 1:30

[@noyopacific]

You are really developing a knack for this stuff Patrick! I think you may have a bright future in the business news & comedy genre. Thanks for the video Dr. Boyle! (I've never actually seen any previous suggestion that you are a PhD. You may consider this to be an honorary title conferred in recognition of your past scholarship, research and accomplishments.)

[@mckrack]

Patrick is a rap star first and foremost.

[@Shy_Knee_Side_Up]

As soon as you hang up phone with Forbes after being told you made the list.. call your lawyer and begin prepping your defense. Or flee.. lol

[@jaymz95112]

Thank you for posting this. As the founder of my company said, "young man, I can teach you many things, but I can not teach you experience." I'm not sure why the so called sage agents of Wall Street and "money folks " are clambering for so called boy or girl genius? One can be bright as well as young, but not know everything. Experience in life and hopefully open wisdom to come ( not always) is the wise one to follow.

[@spuddyflavorman3808]

Patrick is the funniest finance professor on the web. Second is still telling jokes in one person show in front of their bathroom mirror.

[@markusgorelli5278]

Daily Mail: In 2022, Forbes estimated that Diddy, who has seven children with four different women, was estimated to be worth $1billion. lol. The Forbes curse strikes again. There are conflicting reports on whether he flew out to a country he couldn't be extradited from or not.

[@israelbergenstein5146]

Amazing to see you here after listening to your talk with Adam at London Business School's Sammy Ofer center. It was also an honor to share a wine with you. Thank you very much for all the hard work you put into educating everyone. Regards, Fellow LBS Alumnus, Israel.

[@Derekzparty]

Forbes doesn't have a fraud problem! I had always assumed they were an early fraud detection system!

[@Gabriellaella23]

This is only my second time watching a video of yours, but it’s great work. Your voice is so dry so I don’t expect the jokes and it makes me stop and say “did he just say that?” This whole video had my giggling at work.

[@TheRealJellyBomb]

OMG, when Patrick is in this good of a mood, watching him is like a Netflix special of one of the 30 Under 30 Best Stand-up Comedians 😍

[@Pixiebolt]

Your accuracy + unique tone is absolutely genius. Just discovered your channel. This is a very revealing perspective of how silicon valley culture has finally reached a breaking point, and how Forbes has been fueling it for a very long time. SBF... disastrous. Thank you for this video 👌🏼

[@afterhourscinema782]

The biggest laughing stock is the "100 Most influential people" list every year because for over 90% of them I go, *"Who???"*

[@RecursionX]

This is the most brutal and brilliant from Patrick ever!

[@j97n75]

Your tesla pencil joke has aged perfectly because I keep getting ads for “The tesla of wallets” and all it is is a somehow worse ridge wallet.

[@ConcernedCitizen-fx7du]

Forbes should be absolutely embarrassed and ignored

[@teresajones9367]

Patrick, you are a hoot. Your ironic, quick sounding whit just made getting home from work all the more enjoyable and stress relieving. Thank you

[@gigmaresh8772]

Started reading Forbes back in the 80s. Did not renew after 1994. Could see the hand writing on the wall (actually the cover). Knew and prospected with a bank loan to cover my purchase of stock in a company. A few months later it split 3 for 1. Not everyone working on the west side of SLC saw fit to take advantage of CISCO's under price stock. And my broker demanded to know how I had attained my prescience. Simple, I said . . . Never mentioned in Forbes

[@marcusantoniusAfterDark]

😂 YES. Thanks again. This Channel is always Entertainment for me. Plus info and a guide for critical thinking. So many criminals occur, too. Thanks for the laughing 🥰👑

[@AbdulStoneJackson]

This is laugh-out-loud funny and so true! Thanks for sharing your thoughts! I couldn't agree more.

[@benm2362]

Damn this is the most savage Boyle video I’ve seen. The calm but constant burns of all of these guys caught me off guard over and over

[@thomascrew8268]

Damn it Patrick, you made me laugh so hard I spilled my drink.

[@ResortDog]

It's very important to have prominent publications hosting the propaganda for widespread acceptance.

[@paulster185]

Acknowledge reality. Don't trust Forbes.

[@DomDollx]

Ty I feel so validated, I felt something was always off amd its a stupid ranking system. Amazing pple around the world are doing amazing things w/o recognition and awards or notability. While they are still making an impact in theor communities.

[@gregl6415]

This guy is legitimately funny even though you wouldnt be able to tell if the sound was off

[@r0z3d]

"that's just the cruelty of cutting it off at 30" Man that made me F ROFL hard man. Good one 😂😂😂

[@MomoDroDro]

People with lots of money lied and cheated? No way?!

[@samalamad774]

I worked for reputable corporation, when a young woman started working as an a graduate engineer. Her dad was well connected to give her the job at the a higher salary than her peers and close to the senior engineers. She was appraised by the media and received a knighthood (for being a female engineer, no kidding). It turns out she wrote off millions of faulty products and repair issues, so her department would appear performing well under her management (Yes she was promoted after her promotion period). Technicians would flag this to her and her superior, but she was in bed with him (literally). They ran away together (him leaving his family and children) and started a business. The losses realised afterwards were in millions (plus extravagant expenses). The corporation bit the bullet as she had dirt on the CEO. Instead, they did mass layoffs and halt production to compensate the losses. The CEO was advised to resign after what happened. The HR shredded all the information, expenses and all paper trials and it is not going to pursue further action. She's out there still no justice served yet.

[@Ishbikes]

Any articles? Sounds like a good book

[@harpsgalore6584]

@@Ishbikes True this sounds like Theranos though.

[@Ishbikes]

@@harpsgalore6584 Sam said “the corporation bit the bullet as she had dirt on the CEO.” The ceo of that company went down, the woman who was faking her deep voice. I’m surprised she got as far as she got considering her eyes. He had no soul. I’m interested in Sam’s story. Sam, what’s the company name?

[@harpsgalore6584]

@@Ishbikes Same Im interested too to know this company.

[@menjolno]

Proof or didn't happen. Theranos don't count

[@DafyddMorse]

I always appreciate your humour, Patrick, but this is even better than usual!

[@saviorself1164]

As someone who has been incarcerated in the US multiple times, I can say that no one will be getting cigarettes for the inmates because you can't smoke in US jails or prisons

[@jukee67]

This is great content and the delivery is what makes it great. Plenty more ahead with how things are looking these days.

[@rmcrae62]

Funniest thing I've watched in a long while. I don't know how Patrick keeps a straight face doing these things

[@ToyinFajana]

Same with the Forbes List in Nigeria. Every year, one of them goes to jail

[@MisterLobb]

Thanks, enjoyed your sense of humor in this. I already subscribed but just hearing you were associated with Victor Neiderhoffer would have been enough to tempt me to subscribe. I liked Neiderhoffer’s EDUCATION OF A SPECULATOR - it rambled but I’m autistic so my thoughts spiral off the same way. I read in the 80s - it was a refreshing counterpoint to my university courses.

[@patrickmacleod2415]

I had a good laugh with your sarcastic humour in this. Well done.

[@SuperArnie]

It seems symbiotic to me: A magazine praising people for having access to large amounts of money and people craving being praised for exactly that. In the end neither the magazine nor the people praised have earned any merit by virtue of having achieved access to a lot of money or praising those people after the fact. Be aware that the people shown in the magazine do not necessarily have that money themselves rather than having persuaded others to borrow it to them. Even if people in that category personally do own enough money to be in that category, in most cases they have inherited it directly or inherited the resources which enabled them to make that much money at that point in their life.

[@WandererEris]

In the same vein, there's the Madden curse, where players who appear on the cover of the Madden video games tend to do worse.

[@butterfacemcgillicutty]

The magazine indicator phenomenon is also present in video game covers. The athletes that appear on the cover of the Madden, Fifa or UFC always end up having a bad season/year/loss/injury after appearing on the cover!

[@bigphilly08]

There are tons of companies and investors that have a fraud problem

[@Mozers05]

The thing about being extremely rich and successful under 30 yrs old is that they didn't had time to cultivate their morality and patience, hence lots of them lose their wealth rather quickly or become criminals.

[@squirrelsyrup1921]

Sam Bankman-Fried, Charlie Javice, Elizabeth Holmes, Martin Shkreli. Is there anything they all have in common? 🤨

[@LambentOrt]

I used to work as a magazine sub-editor and we used to do these 30 under 30 lists. The whole editorial team hated doing it, but marketing forced us to do it for the advertising money... Lol. What we found was that in most cases these successful kids usually came from rich families, and got a huge leg up from their family connections and generational wealth. It was so hard to write around this fact... but we had to, because who wants to read about rich kids pretending to have made it because they put in all the work? 😅

[@Jessica_Jessica_Jessica]

Me when I lie on the internet

[@lifeenjoyer9699]

i love the smell of purposely spreading misinformation in the morning

[@Nanook128]

​@@lifeenjoyer9699what misinformation?

[@Tex_actual]

@@lifeenjoyer9699you don’t have a clue how expensive it is to open a business do you?

[@gaerekxenos]

@@Nanook128 I'd assume the creation of the lists and making it seem like the people built their wealth from the ground up, when they already had a head start compared to most other individuals in the country

[@mururoa7024]

By "zero emmision" Nikola Motor meant the company would emit zero vehicles. Mission accomplished, I'd say.

[@arthurtreibs4174]

[@chengong388]

If you don’t make any cars, you can’t have any emissions from your cars duh

[@cdreid9999]

you need to look into a career in public relations

[@andrewmayo9400]

technically a gravity powered truck doesn't emit any CO2

[@AlexanderTheGoodEnough]

@@cdreid9999 you're god damned right! we just witnessed a new Sultan of Spin.

[@Casey3-P-O]

Personally, I'm proud to say I made the "10 Billion Under 80" list. I've never been more proud of my achievements

[@deliocache2528]

Since it's 10 billion, i am assuming it includes dead people that would be under 80 if they were still alive, so i probably didn't make the list

[@Casey3-P-O]

@@deliocache2528 oh yea lol maybe I should have said 6 or 8 billion lol

[@NotKimiRaikkonen]

Congratulations. You're an inspiration to us all.

[@Casey3-P-O]

@@NotKimiRaikkonen thanks. I do what I can. I'm just living my best life

[@thelexicon7294]

Looking forward to your thank you speech!

[@Proteus007]

25 years ago my business professor at MBA school used to say, “If you see the photograph of the CEO on the front page of a newspaper or magazine, sell the stock!” And his logic was that the CEO was too busy getting his ego stroked and would eventually result in shareholders losing. So every few years I am reminded of his pithy advice, and am thankful for it.

[@mechanicalengineerturbo]

Successful companies with a healthy PE ratio always have faceless execs and founders. If someone knows your company but not you, it should actually be a sign of success and legacy.

[@andrewcrowder4958]

Very true. In Japan, execs are heads-down, running their companies. Very few - the exceptions being Akio Morita and Masayoshi Son - seem interested in becoming figures in the larger culture.

[@jonslg240]

Big kudos to his Ronnie & Reggie Kray example on here 😂 that was better than Don Draper and James Grey

[@razrv3lc]

This is probably why everything Elon touches spirals lmao

[@gokuformanvsfood]

Wow gonna live by this, very smart way to avoid a large portion of these Scandal Magent sociopaths

[@ritzee13]

I had a friend who was put in the local paper and aclaimed for his fast growing business. He became so braggy after that and started preaching his methods to everyone and looking down on us. I later heard that he was arrested for fraud because he lied about how big his client base was to investors and got sued. I feel like Forbes and these articles do nothing but make people desperate for more growth.

[@aarontheperson6867]

interesting! i completely agree with that last part for sure. once they have that chance to go big, they don't want to waste it.

[@ritzee13]

@@aarontheperson6867 definitely, they start craving that recognition and will do anything to get it again.

[@unouni2548]

I feel like they are already doing something shady, and the spotlight that the cover gives them only makes it so that journalists and investigators have them in mind more easily when looking for shady practices in business

[@l30n.marin3r0]

I don't know about you, but what I was always told was: "Make more with less" The only thing that grows non stop is cancer and we all know how that ends, but look at the media, look at school advertising, movies, songs..what is the push? Music is not a expression medium, is a way to get rich and famous for whatever reason. It doesn't matter if you have something to say or a unique outlook of life, just push it out there! Sample some music from youtube, slow it down and put it in the right pitch and get those youtube views! Or you can do your own thing, and you will more than likely get a real fans who really like your stuff and get an actual community going instead of the word representing a shilling tactic but that will take time as everything does. I really like this documentary called Blood Into Wine in which Maynard James Keenan says something like: Nothing comes easy

[@MrCobalt]

Forbes itself feels pretty shady these days. Especially with the clickbait they throw up on KZbin now to pass off as news

[@AJWrenn-kj7mj]

Bless KZbin for allowing Patrick to live out his dream to be a standup comedian without having to do shows or even stand up.

[@Christina.N.]

😂

[@lim6718]

The way he speaks does have some comedian touch! Talking about hilarious fraud facts with that calm tone and slight British accent( not sure about the accent ) made me laugh out loud.

[@Jsarmy87124]

What ? I saw this comment a lot I don't get it , someone could explain it to me please

[@dudtspeed]

@AJ you're clearly the company clown lol. Good times 😂

[@Kraftwerker1]

​@@lim6718Irish!

[@lindanicolex]

We literally just got a Forbes magazine at work for no reason. I told everyone I wanted to read it because I wanted to see who is going to show up this year that was gonna be in prison next year. They thought I was joking, I was dead serious.

[@sjg5994]

Omg🤣🤣🤣🤣🤣

[@evos469]

😂😂😂😂😂😂😂😂😂

[@niharikamenon-iz8xu]

I mean... Who really cares lol They still makes banks deceiving others, the dumbest ones will be caught while smarter ones escape

[@ItsNessaTho]

Lmaooo 😂💀

[@AhsokaJackson]

_cackling_ I like your style. 😂😂 Sometimes the lessons we learn aren't the ones our teachers intended to teach. …And they may indeed be better!

[@Sabrowsky]

"Amassing a large collection of cigarettes, the cryptocurrencies of prison" It's been a while something made me cackle this loud, good one Patrick

[@grahamstrouse1165]

At least ciggies are real…

[@Sabrowsky]

@@grahamstrouse1165 good point, they're, in fact, more useful than crypto

[@ReeRee_Donita]

Read this comment at the exact time he said it😂

[@Sg-gs]

I laughed so hard. He says it with a straight face 😂

[@ArifRWinandar]

People can make cigarettes out of nothing and get people to buy it on the promise that they can sell it for a million times more later?

[@kennethone6687]

Forbes ALWAYS had this problem simply because it's not a real magazine...it's more a paid catalogue.

[@gigmaresh8772]

Like "Entrepreneur"

[@stevemarshall6564]

I want to see a new 'under 30 doing over 30' list for all the tech kids that are locked up

[@MrDiggityaus]

In 10 years, it will be the size of an encyclopaedia

[@severussin]

@@MrDiggityaus ChildCraft

[@dameneko]

See "Web3 is Going Great" 😹

[@none_the_less]

Those don’t do over 30 in prison.

[@thacrypt223]

🤣🤣🤣🤣🤣🤣🤣

[@krombopulos_michael]

This makes me think that getting on the Forbes list only mostly happens to people with PR campaigns to get them onto the list. It therefore makes sense that scammers and confidence men would try extra hard to get onto the list for the extra level of visibility and prestige it grants and will seek it out more than honest entrepreneurs

[@rixille]

People with connections too. Like SBF, that bastard

[@sbfcapnj]

Yeah this is one of those things where like if you *want* to get on this list, that alone makes you an asshole.

[@SupramanRambled]

As someone who has filled out nomination forms on behalf of "thought leaders" and business executives for Forbes and other publications, I can absolutely attest this is true. There is little to no verification of the actual business metrics, depending instead on superfluous metrics such as media mentions, awards, etc. It's all running on fucking hype.

[@OGRE_HATES_NERDS]

if it isnt just PR then I have no idea what else the purpose of the list could possibly be

[@eldenfindley186]

Capitalism is based af

[@reenakemp9132]

Isnt this the same magazine that named Kylie Jenner a "self made" billionaire, even though her parents and sisters were already uber wealthy.

[@eneyavorodecky]

I remember taking this to work and having a laugh with my colleagues about it (we work in finance).

[@Revolution3030]

Patrick is a borderline stand-up comedian and I love it. 😂😂😂

[@kaseywahl]

An absolute LEGEND of deadpan.

[@Revolution3030]

@@kaseywahl 1000%

[@KK-ji1rk]

Me too!

[@fullmetalpwn]

was gonna comment this might be his funniest video lol

[@whitetiana3022]

he's more of a sit-down comedian.

[@shawnconway6009]

'if you made it onto this list and you're not a junior accountant at an accounting firm, odds are you're going to prison in the next six months or so.' I love that if you delivered this on stage it would be the perfect standup comedy, despite the fact that you're literally just speaking the facts.

[@NazriB]

Lies again? Fight Pass USD SGD

[@Corninthesky]

Lmfao this would bomb as a stand up joke

[@LBlazer169]

Should probably get out more lol

[@Calandron1]

"Should have been called Newton, because it's the first gravity powered truck." Patrick you're a killer. 10/10

[@maxmeier532]

Newton famously watched a truck roll down a hill and realized the existence of gravity. We should give Nikola credit for that.

[@greebj]

If only Newton had tilted the camera sideways so things could fall uphill. We might have dodged a global climate catastrophe. Thanks a lot "Sir" Isaac

[@IamGrimalkin]

​@@maxmeier532 Funniliy enough, Galileo probably did come to his law of fall from balls rolling down slopes (not the famous tower of pisa experiment).

[@alexnoman1498]

6:23

[@troodon1096]

To be fair, the truck did produce zero emissions, so it wasn't a complete lie...