Personal Finance YouTubers Have Bigger Problems Than Just FTX

[@HowMoneyWorks]

Upgrade the way you learn with Brilliant! To get started for FREE go to www.brilliant.org/howmoneyworks

[@ult1873]

You really made that comment quickly! Good job!

[@jonnovember2136]

I lost my 15yrs of savings with FTX and cryptocurrency is a scam!😥

[@James-gm9cs]

Good to see you've abandoned the art nft sponsor. Hopefully it's a lesson learned 👍

[@whatsup3519]

Imagine if nobody is buying the non dividend share what will happened to the price of share. U expect someone to pay then only u get money. Now u will say there would be demand for profitable company. 1. Let's imagine company is profitable ,but nobody is willing to buy then what happened? U may say that is impossible,but for risk analysis imagine this for a second. What would u do in this situation? (atleast answer this question) U may now say historical share will go up. Why?what is the reason behind it. And if someone happened in the past does that mean it will happen in future. Expecting your reply

[@KusogeMan]

Hello, i would like to translate your video to portuguese, can you give me tips on how to make subtitles for you or give me the permission? your video would be very welcome in Brazil.

[@ThePlainBagel]

I like the pointers at the end for influencers - outside of the clear conflict of interest these promotions introduce to the KZbinr, influencer marketing just isn't a good place for promoting financial services. The promotions often don't disclose the important risks, usually misrepresent the upside, and really open the viewer up to significant financial losses. The consequences of promoting a regular product or service that doesn't live up to expectations is much less severe. Thanks for the shout out btw!

[@Compulsive_LARPer]

I love your party popper videos as much as I love you as a person. That is all.

[@BewareTheLilyOfTheValley]

Thank you for being one of the very few "good ones", I really enjoy your realistic videos.

[@TheHorseshoePartyUK]

I'm of the opinion that various regulations need updating for the social media era. I'm a total amateur at economics and finance... but to me... People getting paid a chunk to promote a cryptocurrency, which is so abstract compared to regular currency, not at all accepted mainstream, which would then make it as valuable as 'real' currency, well... it's effectively worthless, and so this is market manipulation. People bragging about who they're going to short-sell on Twitter, to try neg the company, hurt the value more and encourage more to get on board and ram the price down even further, are manipulating the market. Agree?

[@volkereinsfeld5970]

I’m actually curious on the perspective on paid sponsorships for traditional brokerages. In my mind say, Webull, Robinhood, public etc are more innocent sponsorships since they’re federally regulated. From your perspective what’s the implied harm to users for such things? Legitimately curious because I’ve thought on it a bit and can’t come to a conclusion assuming the influencer isn’t promoting them as like a day trader platform.

[@TheHigherVoltage]

An "influencer" is just a new name for "salesmen". A salesmen's job is to say and do whatever it takes to make the sale. The better they are at that, the more money they can make. They are not paid to give any honest analysis of what they are promoting. For the business of promoting and selling, social media and sites like KZbin have proven even more profitable than late night TV infomercials.

[@alexanderlyon]

This video is a great example of why I love this channel. It's almost entirely about education and not about hype. The channel name says it all.

[@garydevries5961]

One issue though. When I was in college I thought financial advisors were great. However, after working for (not with) a few and also working in a compliance department monitoring their transactions. I would definitely not trust working with a financial advisor. They should be called FEEnancial Advisors. Basically load fees and insurance fees. Yeah, they'll listen to you so they can get those insurance fees as well as fees for investing in the stock market. They win regardless of if you do or not. Furthermore, they will push for you to refer others to them so they can make even more fees. This allows them to spend less time on cold calling.While it is technically not cold calling because at one point in time somebody may have accidentally put their number down, there is a list and a script that they read (or memorize). Also, the most successful ones are the best salespeople that know nothing about markets other than basic Series 7 stuff. All I'm basically trying to say is be cautious in that area as well.

[@casucasueq4479]

Yes, I too was impressed... about how 3 minutes in I got fed a commercial. ZZzz......

[@TheHorseshoePartyUK]

@@casucasueq4479 Oh no! People who put hours into making videos to entertain people want paying! How terrible!

[@potato1084]

@@casucasueq4479 It’s really not that deep ZZZzzz

I for one am all for KZbinrs and other influencers really, really get what's coming to them for promoting (not only) this scheme. They make the money and when things to sour they'll make an "apology video" that will ALSO be monetised. It's beyond unscrupulous.

[@mbank3832]

hey I mean, can you blame them? It is not like you victims can do anything about it, right ? ;)

@@mbank3832 There's one thing I can do and it's what I did; Not take financial advice from KZbinrs and/or put my money in crypto. 😆

[@nas8318]

@@mbank3832 Flak is doing something about it. Let them be shamed

[@mbank3832]

@ yea but i don’t think it hurts them. They still make videos like nothing happened

[@mbank3832]

@@nas8318 will it hurt them tho? I see graham’s subscribers went from 4.13 to 4.14 million afterward…..

[@TomMcMorrow]

As someone who works in finance I love Two Cents. They don't recommend anything, they just explain financial concepts and ideas.

[@benkelly7499]

Two Cents and Patrick Boyle are some of my favorites

[@TomMcMorrow]

@@Mr.BobsDog Yes! I'm not affiliated with them and I get nothing from anybody for it I just like how they are more about education than sales.

[@Kalimoor]

Bot moment

[@YaYousef5]

I like them too, but I stopped watching them because they're employees of PBS but also ask for people to pay them through Patreon. Opaque.

[@acasccseea4434]

@@YaYousef5 look at the message, not the messenger, they make good content, with good evidence to back them up. but also, all PBS channels have pateron. PBS space time, PBS just don't have enough money to expand their operations. they likely just get a standard sum, but if the channel groes, they'll have to find their own sources to hire more people

[@DividendBull]

I was contacted six times by BlockFi who wanted to sponsor my channel. As I was getting ready to get set up with them I could not figure out how they were able to provide people an 8.6% yield on their crypto. After doing some more research I realized it was sketchy and I didn't follow through on the sponsorship. I'm convinced if these KZbinr's would have done more than surface level research they would've realized things looked terrible. Many of them just want the money and don't care for their viewers.

[@minaryeon9259]

The simply say they didn't know

[@TheHigherVoltage]

"Many of them just want the money and don't care for their viewers." - Sales 101.

[@sblijheid]

I highly doubt they did any research as it requires some understanding of the market. An understanding they do not posses. I like your channel btw.

[@EricK-vw5wh]

@@minaryeon9259 Bullshit. It's common sense BlockFi was crap on the yield. KZbinrs just wanted the money.

[@abusfulloforphans]

I think they do actually care about their viewers. The way we perceive ourselves as loving or caring for someone or something can often be different in our eyes than the eyes of those we "care" for. You know that thing you do where you do something you know is sorta wrong or you fuck up, but it's not a big enough deal and you play it off so you feel like the good guy? Well that's a built in confirmation bias we all have to keep us from going insane with all the shitty things we end up doing as humans. Come on we all do shitty things. Whether these creators did or did not do there research, I can guarantee you none of them had a thought like "oh imma make so much money at these idiots expense". They believe in themselves and their ability to provide sounds advice and they genuinely care for the people who watch. And that my friend seems to me a wayyyyyyyy scarier prospect than if they didn't care at all.

[@barbaricky]

The Plain Bagel channel is one of the most trustworthy when it comes to financial education.

[@davidhurley6145]

Yes and Patrick Boyle

[@ProfAzimov]

Well, it makes sense

[@user-kpkxgtj]

@@davidhurley6145 love plain bagel and Patrick too

[@bestdocincanada6620]

@@victorugo3875 Have they I view most if plain bagels videos and I haven’t notice it. Can U link the vid

[@snooganslestat2030]

Love Patrick, his dry humour & clever use of sarcastic wit is an excellent balance to subjects that can be hard to make attention keeping or easy to understand. I love Coffeezilla for making reactions to all this tomfoolery.

[@TheDrewManGroup]

Ironically I unfollowed both Gram and Andre earlier this year. I had to take a big step back from the KZbin finance channels I got heavily into during the pandemic. For anyone who doesn't know this, you can click the 3 dots on the bottom right corner of any KZbin video on your feed and select "Not interested" or "Don't recommend channel" depending on how hard you want to shadow ban someone from your personal algorithm. Hope this helps! ✌

[@iansingh2102]

What about minority mindset , is he legit

[@benjaminbehrens]

@@iansingh2102 he’s not horrible, but he pretty much just repeats the same 10 points spread over all the videos he post, so once you’ve watched like 15 videos, everything is just repetition

[@sblijheid]

@ Ian Singh His real estate advice is sound, but his take on the economy is flat out wrong. I unfollowed him because of it.

[@g.t.c7647]

@@iansingh2102 agree with the others. He says the same thing over and over. As far as his market/economy updates are concerned, they’re misinformed and over the top. So don’t bother.

[@24X7CARZ]

I worked for an institutional asset management firm. There’s a BIG difference between a venture capital firm taking a flyer on FTX as part of a broader risk-balanced portfolio and selling FTX to individual consumers who are likely to keep a relatively large percentage of their liquid assets on FTX in the hope of going to the moon. And give me a break: why the heck would you endorse a crypto exchange that refused to list certain layer-1 coins because it was propping up its own special interests in Solana?? That’s like TD Ameritrade refusing to list MSFT because it’s got some incentive to see AAPL gain greater market share. You don’t need forensic accounting to figure out this is dangerous to promote to your viewers!

[@maxscott3349]

Those are words that I don't know

[@xman7695]

That's also a good lesson to learn: I can listen to finance KZbinrs or anyone but I'll almost never gonna use those products they advertise for. And I also think about the validity of the advice given to me.

[@xman7695]

Gladly I learned it through some mistakes before it got expensive.

[@Chahlie]

I agree- I listen to some just out of general interest but I tell everyone to not take advice from anyone- just do your own thing.

[@olgagomes2767]

Hi. This is a message to the person (or people) running this channel. Be advised there is a bot here very active in the comment section using your logo (most likely to trick people into thinking they are you) to give people bad investment advice. I just wanted to bring it to your attention in case you haven't noticed. For the viewers: please be careful.

[@barmybarmecide5390]

@user-do4lm8rd8e ironic lmao

[@Graphics_Card]

Found the bot you were talking about

[@BewareTheLilyOfTheValley]

He knows and has made posts about the bots.

[@daltonwallet8650]

If you see the bot, report the posts so KZbin can get them removed.

[@TheHorseshoePartyUK]

@@daltonwallet8650 Yep KZbin are trying their best, and the more data people feed them the better they can remove them. They've now stopped using the obvious word of WhatsApp now for example. So now this version will get added to the blacklist. I just wish these scammers would use their inklings of talent, to get better at programming and do something actually profitable for themselves and useful to humanity.

[@aimemaggie]

I stoped following personal finance KZbinrs when I realized they said the same thing in every videos and for every situation.

[@MOBMJ]

I stopped watching them because it stopped me from listening to myself and my own strategies and gut, intuition. why fix what isn't broken they say

[@Sunmoonstars976]

Same advice, with different thumbnails and click bait titles.

[@hamsterama]

The bad personal finance KZbinrs are all about clickbait. Advising viewers to put more money in their 401(k) or set up a roth IRA is "boring" and won't get clicks.

[@ericg_2025]

m a k e y o u r m o n e y w o r k f o r u

[@nestorjrabalos1998]

I never followed or listened to any of them. From the start I know they’re toxic bloodsuckers

[@randallmartin3218]

Really appreciate you calling out the dangerous financial KZbinrs, but also pointing us in the direction of safe, qualified KZbinrs

[@TheHorseshoePartyUK]

Taking pay to recommend an exchange that has its own crypto, is market manipulation, just as much as people bragging about who they're going to short-sell on Twitter. Agree?

[@rockyduck8]

IT GOES FUTHER THAN THE KZbinRS.... THE SPORTS TYCOONS HAD A HAND IN THIS ALSO THEIR ACCOUNTS NEED TO BE FROZEN WITH THE KZbinRS

[@potato1084]

Caleb Hammer is an example of a legit and a qualified financial advisor + v interesting but it’s not the same vibe as Graham and the others.

[@foobarFR]

How Money Works, the Plain Bagel, Patrick Boyle and ColdFusion are the 4 only channels i take seriously about finance and economy. CoffeeZilla is the bonus part, he's more about punching scammers in the teeth. Plus a French analyst (Xavier Delmas) that does videos in french that are really informative too.

[@LiamNI]

Dunno about Cold Fusion tbh. He isn't very well informed, although his videos do give a reasonable overview, and he doesn't give advice.

[@tiddlypom2097]

I love Coffeezilla: got really useful info from him (the info being: all these get rich quick schemes are scams). He had that video about SBF describing his setup as a ponzi scheme from like a year ago.

[@marcelomenezes8488]

You should definetly try Ben Felix.

[@walkerburgin]

Economics explained is a great one for a macro economy scale.

[@TheHorseshoePartyUK]

@@LiamNI Yep he's got some good takes on things, and other stuff is wildly hyperbolic speculation to the point it sounds like paranoid conspiracy theories. More people need to learn, that just because someone is correct at times, doesn't mean they're always correct. We're all only human, and we *all* make mistakes. Also, extremely shady types of all political affiliations, mix reasonable questions, with emotionally appealing exaggerations and outright lies. The Disreputable Salesman Mind Control Tactic: 1. Speak a lot of indisputable truthes and ask reasonable questions. Eg 'why does NATO still exist if the USSR collapsed in 1992?' 2. Slowly, exaggerate and distort increasingly wildly with much use of Appeal to Emotion Fallacy and other Sophistry. You will lose people who have learned critical thinking at this phase. That's ok. You don't want them 3. Finally, as everyone else climbs aboard the Bandwagon Fallacy, they head for the final destination, on the carriage called: 4. Groupthink. Coming next is something extremely problematic and near impossible to rescue people from. 5. A CULT of Personality. My bias as someone leaning left is my own side's sillies mean so well they just don't think straight, whilst I'm less convinced about the 'opposite' extreme. Especially when it comes to very wealthy Hard Right politicians, but perhaps that's what right-leaning people think about their own side's sillies?

[@bigmeek4705]

I have a feeling a longer term version of this will be Masterworks. Their adds are plastered everywhere, and it's a really bad investment with the company getting guaranteed high fees with risky unbacked assets that all the fintubers give such glowing and sketchy praise to.

[@ezekiel0606]

I also think this will mirror ftx. I find it sad that many of my favorite youtubers are promoting it

[@kanishkchaturvedi1745]

@M3X would you call paintings by no name artists assests? That's like calling Clarks necklaces appreciating jewelery

[@IamGrimalkin]

​@@kanishkchaturvedi1745 I'm no fan of Masterworks, but you can hardly call Banksy, Warhol and Picasso 'no-name artists'.

[@kanishkchaturvedi1745]

@@IamGrimalkin Yes, I apologize for forgetting that. Are most of their investments backed by such great names? Genuinely asking, not being snarky

[@IamGrimalkin]

@@kanishkchaturvedi1745 I picked out their best-known artists (to me, anyway). I dunno about then others, but in theory I would think you could just invest in well-known names on thier platform if you wanted to.

[@caseyjc5]

“I can’t legally give ya’ll any financial advice, but here’s some financial advice…” -personal finance KZbinrs

[@victortoombs4754]

They can be sued for this. I wouldn't be the least bit surprised if someone starts a class-action lawsuit against one of them.

[@Shutdownoftheday]

They aren’t financial advisors

[@victortoombs4754]

@@Shutdownoftheday Exactly, which is why they shouldn't be touting stocks to begin with.

[@chrisklugh]

100%. All of these 'Personal Finance KZbinrs' have a similar production strategy as any 'MLM/Scamer/Claimed Guruer'. They talk the talk just enough to line their pockets with money. Now that don't mean they are wrong on everything, or that they should stop. Like you mentioned, the integrity of where they get their money matters. If they are so successful, their channel should be their own personal marketing outlet/hobby thing for the real money they make with their own money practicing what they preach.

[@Max-ve5tu]

The lack of remorse and accountability is concerning. These guys probably didn't know FTX was a Ponzi scheme, but they still pocketed massive amounts of money from the sponsorships. I can't say I know the correct way of preventing this, but if there are no consequences for this, it will only continue. If I was a shady individual, who wanted to make a lot of money on other people's behalf, I would know how to do it since the recipe has been laid out clearly: Create a scheme that is too good to be true, pay excessive amounts of money in sponsorships to big influencers, and just let the cash roll in.

[@vincent8900]

I'm not sure how they didn't know that, since SBF said he was in the ponzi scheme business 6 months ago

[@monsterboomer8051]

The most shocking thing is that their own audience is OK with that.

[@paulomartins1008]

If a financial education channel is impossible to fall asleep to, its not a good channel to pay attention to.

[@TheHorseshoePartyUK]

😂😂 Accurate. I love trying to learn all this stuff, but I'm also ADHD and so when I'm trying to sleep, I'm often trying to find something interesting enough to listen to, but also not exciting enough to wake me up. So I'm often sticking various things on like history docs, economics, finance, physics I barely understand any of, or the Simon Whistler channels. Though TopTenz often backfires against me lately, because he's clearly had super-strong central / eastern european coffee he talks so fast, so that wakes me up again at times 😂😂

[@computername]

Except Benjamin

[@IamGrimalkin]

@@computername Except Benjamin? His videos are entertaining but they're mostly centred around insane options gambling, it's hardly something you want to emulate.

[@codacreator6162]

NASD: Past performance is NO INDICATION of future results. Life: Told you so.

[@TheHorseshoePartyUK]

Mark Twain: History does not repeat, but it often rhymes

[@zanychelly]

Not only FTX… but I saw a bunch of KZbinrs promoting Robinhood up until it made a good bunch of people loose money by not accepting trades.

[@IamGrimalkin]

I'm not sure what you mean: Robinhood not accepting trades when there is low liquidity is the responsible thing to do. The alternative would be that they would 'sell' IoUs of the shares without adequate collateral or locating someone to buy them from; and that could have caused massive losses that might have rendered them insolvent like FTX.

[@MrSupernova111]

FTX was a ponzi scheme. Robinhood is a real firm with a real product. GME was the most traded stock in the market at one point causing problems at Robinhood. Robinhood was a victim in the GME fiasco as much as the clients.

[@zanychelly]

@@IamGrimalkin low liquidity? I suggest you to look further into who gave them the order to suspend transaction of specific stocks.

[@sorryi6685]

@@zanychelly What Robinhood did was unethical but it's not a scam and has revolutionised stock trading for good or bad

[@drench1580]

@@sorryi6685 the scam behind Robin Hood is that they sell order flows so that hedge funds can trade against retail investors

[@ibrahimmomani9451]

Well put video! Unfortunately, it's the same story I hear every 10 years since I was a child. People like to put their money in something they don't understand in hope to get more in a magical way. They avoid calling it gambling, but, the hard reality always strikes back. I love that you're trying to promote normal jobs, and let people understand that other ways of getting money involve putting more risk.

[@perfectallycromulent]

and the people howl "government regulations bad!" right up until they lose their money, and then they say "where's the lawman to get my money back?"

[@Lonovavir]

@@perfectallycromulent: It's amusing to watch them go from raging Libertarians to Socialists at warp 10. They're fickle opportunists.

[@TheHorseshoePartyUK]

@@Lonovavir These types "government taking money from me to redistribute to the poor and give them a chance, like Jesus is M A O I S M" Then ""Big gubment protect me!". Then since I'm an equal opportunities offender- Tankies: "social media is so divisive with Twitter full of oversimplified takes and trolls. Compulsory Nationalise it!" Also them: "people writing lengthy and accurate critiques of Bolshevism are triggered and writing walls of text LOL Hey wait that's our IP give it back thieving neoliberals!" *Laughs in Social Democrat Sir Clement Attlee*

[@josiah5776]

One of my favorite KZbin finance channels pushed FTX quite a bit. I'm glad I never listened to that part. Makes me wonder if I should stop listening to all the rest of it.

[@benkelly7499]

Probably, finance advise on KZbin is dangerous

[@peternystrom921]

Yes, first shady video from a creator, i unsubscribe

[@elizabeths.3634]

There is nothing wrong with listening if you enjoy the content, but blindly following, NO!!!

[@leehayes4019]

You may not beef with those influencers. But I will.

[@danielhale1]

Your audience is smaller but far better informed thanks to you. Thank you for your integrity. It's been fascinating and frightening watching so many peoples' investments implode because of the negligent or malicious advice they followed.

[@mbank3832]

Graham and andrei still make videos like nothing happened. They show no remorse lol

They have none.

[@arga400]

I'm pretty sure you mentioned in the comments that in Australia you HAVE to be a certified advisor to take such advertising deals. I think is pretty clear that the USA and Canada need such regulation as I suspect none of this influencers intend to stop taking this money. One influence in particular at the end of his "apology" video promoted a different Crypto Exchange that has since also frozen withdrawals and is very clearly also going bankrupt, so literally no lessons learned.

[@colejosephalexanderkashay683]

Who did that

[@arga400]

@@colejosephalexanderkashay683 "How Money Works" did, they mentioned it on a comment in the Plain Bagel I believe. (Don't quote me on this :( )

[@MrSupernova111]

Agreed.

[@whiteshadow7584]

@@arga400?? this channel (How Money Works) didn't recommend a different crypto exchange. Am I just misunderstanding your reply to the other person here?

[@arga400]

@@whiteshadow7584 I think you misunderstood me, How Money Works said that in Australia you can't advertise or partner with things like Crypto Exchanges UNLESS you're certified to give Financial Advice. They did NOT promote any of those, what I am saying is that Canada and the USA needs such regulation as well.

[@garcjr]

After watching all these personal financial KZbinrs I'm having a greater respect for people who earned economics degrees and have business experience. Now I do follow people like Uneducated Economist because I know they're not trying to push their own financial agenda. It's more learning from their mistakes because they're a lot like us. Having a job and managing money on how most Americans make it. Running an exchange and you don't use a lot of math? That right there you know there's going to be problems. I'm noticing a lot of these personal financial KZbinrs are just opinionating something they read on Google an hour earlier. That's why I like following this channel, Economics Explained, and Cofezilla. I'm sure a lot of people with economics degrees and understanding of math are going to be more valuable now during this recession downturn.

[@MrSupernova111]

I have a finance degree and work in the industry. I gave up long ago trying to find new financial channels on youtube. The only ones I watch are purely for educational content and the moment they start recommending financial securities I'm out. The Plain Bagel and Patrick Boyle are pretty good among others. I don't watch Patrick(?) Felix because I find most of his content is fluff. The hardest thing to find are financial channels which use sound data to back up any narratives. Reventure Consulting was such a channel but apparently he's taking a break or quit youtube.

[@garcjr]

@@MrSupernova111 It looks like a lot of these scam Crypto (or just scams in general) are managed by people who have not done their homework. They grab someone who earned their finance degree on Google University. Sure there's good information on Google University but managing a crypto exchange requires an understanding of math and business management. A lot of the personal finance KZbinrs are just Google University graduates. I'll give Gram Stephen credit in real estate. He's experienced in that field, and I would follow some of his advice in that field only.

[@MrSupernova111]

@@garcjr . I'd be surprised if the majority of these financial gurus on youtube hold any degrees whatsoever. Anyway. Cheers!

[@HarrisSultanAtheist]

This guy saying KZbinrs need to take responsibility for giving bad advice then next minute he promotes Brilliant for advice. What if Brilliant turns out to be Fraud? Social media influencers are not experts, they were also fooled by this whole crypto BS.

[@KingUnKaged]

"Come on, guys, you are rich enough." Every Rich Person Ever: *Confused Pikachu face*

[@LiamNI]

My personal favourites off the top of my head are, in no particular order, Patrick Boyle, The Plain Bagel, Money and Macro, this channel, and Economics Explained. If I think of any others I'll edit this comment

[@MrSupernova111]

Good list of financial channels! But I stopped watching EE because his videos are riddled with errors and often they're 80% fluff. I can't devote 20-30 minutes watching fluff riddled with errors.

[@memeier9894]

Maverick of Wallstreet?

[@TheHorseshoePartyUK]

@@MrSupernova111 With you on that. I stopped watching after his absurdly hyperbolic claim that 'biden stimulus checks going to bankrupt the entire world with hyperinflation. I've not even bothered looking and I know the entire world economy minus USA, is far bigger than the USA GDP. I do think they should've perhaps means-tested those. Also both USA and UK governments failed collosally at preventing fraud with covid business loans. IDK what happened in USA for example, but about 50% of our fraud could've been avoided by googling a name and companies house, and finding out companies were permanently closed for example 😂😂 Tories. 'party of economy and business' as they obfuscate investigations into what happened there. They're so arrogant I'm surprised there's no photos of Jacob Reet-Smug walking out of the bank of england with a wheelbarrow of gold bullion.

[@hundid5930]

I disagree with the idea that their is a difference between Tom Brandy in an FTX add and a KZbin finance influencer because "with Tom Brandy, we know its an ad". If the KZbinr as the smallest amount of ethics, its is made very clear in the video that it is an ad - just like how we know Tom Brandy is also doing an ad. Just because they are a finance influencer does not change their right to do an ad read on a finance product - that is just how it works. If you go to cooking channels, most of the ads are for cooking products and meal kits. I believe the responsibility of the Finance KZbinr is to not take ads that have material PUBLIC information that shows the product to be bad. We cannot expect them to have material nonpublic info, that is just to high of a burden

[@roaldruss4211]

I've seen the argument by defenders of those YTbers that "Tom Brady and other celebrities were far more harmful". I beg to differ. Celebrities like Tom Brady don't interact with the defrauded investor/consumer; Graham Stephan et. al on the other hand are directly interacting with their respective audiences. They know that people come to them because they see benefit in what they provide. Those content creators are ipso facto reliant on their continuing presence. This interconnectivity is what makes these promotions so wicket. People think they can trust them while the content creator knows that their promotion has a high probability of catching on. They are far more dangerous than any run-of-the-mill celebrity endorsement.

[@AnnaKrueger809]

I'm new to crypto trading and I've been making losses but recently I see a lot of people earning from it. Please can anyone tell me what I'm doing wrong

[@Bradleyschaeffer376]

I would advice anyone embarking on crypto investment to get a professional who will manage your account with less loses.I invest with a strategic crypto trader assigned by a crypto company that trades for me and returns my profit on weekly basis.

[@AnnaKrueger809]

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[@Bradleyschaeffer376]

@@AnnaKrueger809 Mr Luke Bellingham is highly recommended

[@AnnaKrueger809]

@@Bradleyschaeffer376 Asking please, how do I get through to him?

[@Bradleyschaeffer376]

Lukebellingham1verified

[@tywbin]

We are currently in the jaws of the worst bear markets I have seen, the average stock has been cut in half, and the only way to make money this year has been to either short or to trade long in very short time frames. I'm still at a crossroads deciding if to liquidate my dipping $117k stock portfolio, what’s the best way to take advantage of this bear market?

[@starcar23]

It’s precisely at times like these that investors need to be on guard against the next certainty. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.

[@VeeraMirjam]

This channel is a breath of fresh air, thank you for your sevice.

[@NateBuck]

This is exactly why I’m so selective with what I promote.

[@fflagentacademy9256]

Youre one of the good ones

[@toptiertonye3691]

Great video. I started watching the plain bagel and unsubscribed to most of people like Graham. I lost money on FTX ($500) but it’s a lesson I learned. I can’t have an ex realtor sell me on how to get a better lifestyle while he makes money every sign up that comes in

[@monsterboomer8051]

Losing small amount like that is the best life lesson. From now on, you are only stronger.

[@CalebHammer]

This is something I’m trying to avoid as my channel grows quickly. Hold me accountable!

[@StoryTime333]

Hate to say it friend, but they learned nothing, and Tom Nash’s apology came only AFTER he was socially pressured to. You gave a very fair and honest assessment, and that is definitely appreciated, but these people are not good-natured. They have never been. Even guru slayers like spencer Cornelia, who came to their defense, stated very early on in his channels history that his goal is to have $100 million worth of property. These people want money…..period

[@Axel...]

I really like the channel New Money for this reason as well. No advice, just analyzing and explaining what is happening in the financial world

[@vectorhacker-r2]

I could smell that it was a scam from miles away.

[@monsterboomer8051]

Yes, they are. They pose and present themselves as financial pros, gurus, advisors and educators. And they failed so horribly. They are responsible. Waaay more than sportsmen, models and celebrities.

[@kunstderfugue]

In fact I would say that they are guilty of impersonating financial advisors and offering financial advice without a license to do so, both of which are very illegal in the US. Also say hi to the scam bot :)

[@bachdotrong9988]

i miss old graham when he reacted to Millenial money making dumb purchases, then i stoped when he turned into a guru in 2020 to grow his audience.

[@Kni0002]

agreed he just like every other financial bs channel

[@kurczaczak]

I think that all media workers (celebrities, influencers, youtubers, etc.) should be obliged to make all their sponsorship deals public. 1. People would be able to judge to what extent given statement is someone's genuine opinion, and how much of it is just sponsorship. 2. People who want to produce actual educational content wouldn't have unfair disadvantage. 3. This wouldn't hurt traditional sponsorships, where a person isn't expected to be an expert in given field anyway.

[@jamm8284]

In all fairness I never really seen any financial influencers/advisor style youtubers that have said it was a scam. If it was all there and they "should" have known, shouldn't there have been a load of high profile youtubers calling it out before it all came out, it's all well and good with hindsight, but considering some very high profile hedge funds had funds into it who have lost out and they are paid millions to know what's dodgy or not, I don't hold it against any youtuber, no offense to youtubers, but they aren't exactly financial analysts for black rock are they. I think we should be talking about every youtuber who wasnt foreseeing the tech collapse after it's over inflation during the pandemic.

[@SouthernShodan]

Meet Kevin: "I would like to apologize to my viewers, but before I do that, be sure to click the coupon code down below...expiring soon...yada yada"

[@alexmikhylov]

the state of finance-youtube sponsorships conundrum: community needs 10 min long videos that boil down to "conflict of interests is bad". because somehow that actually requires explaining.

[@crassustheelder9665]

I work at a financial advisory firm and yeah we CANNOT recommend any sort of product or action unless we are able to review a client’s full financial situation.

[@user-Aa310]

Whatever one may say about FTX , one has to acknowledge he was a marketing genius. He understood the human bent for greed, and developed the promotional tools to milk it to the proverbial last drop.

[@ChooseLoveToday316]

Lol it's called being a charlatan.

[@shawniscoolerthanyou]

I even listen to EA podcasts and I didn't recognize the names SBF or FTX until everything caved in. Crypto is a dead end. Any admirable aims are completely overshadowed by speculators at best and hucksters at worst.

[@sebastianlenzlinger9291]

it‘s really just called being a wreckless fraud. it‘s really about just being cold about the fact you‘re cheating people. 1000 of low level criminals do this every day with spam. they just use a different strategy.

[@kitnoCC]

Great content! You probably could've skipped including a sponsor in it though to make the message more powerful.

[@HowMoneyWorks]

Brilliant is the least harmful sponsor I can think of haha

[@virginiastoolbox9681]

If you want a new finance channel to watch I really like Caleb Hammer! He just sits down 1-on-1 with people over a month of their spending and they explain themselves. All the advice is different based on their circumstances and the stories are a lot more relatable.

[@TheLeadDesigner]

The video title got me to click, the sponsorship got me to subscribe, I seen a KZbinr talking about the fall of FTX while sponsoring another crypto exchange after he had been sponsored by FTX for the longest, for that I will subscribe

[@TheHighborn]

I used to watch graham when he was small, but after a while he became clickbaity, with shock/wow factor thumbnails. I realized and left. He got me into investing and that's about it. I'm not saying he's good or bad, but he's no longer useful for me

[@attila2246]

He is very repetitive. After you've seen a few videos he has nothing new to offer.

[@sourishsaha8067]

This is truly an underrated topic

[@BigTawfiq]

Love the shout out for Ben Felix, he is the reason I started investing back in 2019

[@HowMoneyWorks]

He’s wicked smart

[@IamGrimalkin]

Ben Felix is good at what he does, but I'm not sure if the way he does things really fits the theme of this video. To some extent, all of Ben's videos are ads for PWL capital, he's not really without conflicts of interest.

[@ProfAzimov]

@@IamGrimalkin Saying credentials is an ad?

[@theowlofwisdom]

The largest investments firms in the world like Blackrock were investing peoples 401k money into FTX. I don’t see how you can blame KZbinrs for thinking it was a safe exchange to promote.

[@dunggg]

When you see channels like Monica Church that made her audience as a lifestyle KZbinr suddenly turn into a personal finance guru then you know it lucrative chasing the money. 😅 Shit even CNET which is a tech website is giving finance advice now

[@MrSupernova111]

That's crazy. The US needs to pass legislation to end this nonsense.

[@codelessunlimited7701]

@@MrSupernova111 That's crazy. It's all about personal responsibility. No amount of laws and money can fix mistakes, trust and betrayal.

[@MrSupernova111]

@@codelessunlimited7701 . You have no idea what you're talking about. The financial industry is already heavily regulated because to have a strong economy you need trust. KZbinrs are endorsing financial products while they side step industry regulation. Its time for the nonsense to end. If youtubers want to endorse financial products they need to be forced to acquire industry licensing and be liable for the garbage they endorse.

[@NuncNuncNuncNunc]

1) grifters should not be let off the hook. They can't just walk it back 2) Chris Norland breaks down a key element many ignore - those financial influencers all work through the same agency. The agency has a lot of responsibility too 3) It is a cheap shot to read anything into a math majors statement that little math is required. The Black Shoales paper, The Pricing of Options and Corporate Liabilities has very little math in the sense that only foundational classes like calc and diff eqs are needed, most of what one of my professors would say, "like you learned in kindergarten." Cheap shots like this only serve to minimize culpability, "Oh, she's just SBF's girlfriend. Oh, she doesn't know math. Oh, she's just a chick." She has a math degree from Stanford and was CEO so treat her like she has brains enough to be in on the scam.

[@jasonbutler1149]

Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.

[@anthonyfelix8334]

I agree with you and I believe that the secret to financial stability is having the right lnvestment ideas to enable you earn more money, I don't know who agrees with me but either way, I recommend either real estate or crypto and stocks

[@Debra_Griffin]

Regardless of all, lnvesting in crypto markets trading still remains one of the best ways of getting out of poverty and obtaining financial freedom in this global economy pandemic

[@davidhoover3358]

The best strategy to use in trading crypto is to trade with a professional, like Olivia Jersey she understand the market quite well, that way maximum profits are guaranteed.

[@adamdiroff4869]

I'm honestly surprised that Olivia Jersey's name is being mentioned here, I stumbled upon one of her clients testimony last two months in CNBC world news and decided to try him out...I'm Expecting my third cash out in 2days

[@mariehite2671]

I have heard a lot about Investments with Olivia Jersey, how good she is and how she has helped People. Please how safe are the profits?

[@codycast]

I still get a chuckle that people follow financial “influencers”. They don’t know anything about a topic other than “how to get followers on KZbin”. Yet people simp over them like they’re a celebrity

[@chrislookman6998]

The stock market is a way to hedge against inflation. Most notably amidst recession, investors need to understand where and how to allocate funds to hedge against inflation and still make profits

[@ipraywithoutseason]

The market is volatile at this time , hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the share/ETF you focus on.

[@francisleo6639]

I'm a living testimony of expert Nicholas Carmen Alise 💯 she's really a gööd brøker and a mother too with good heart😁

[@velenziajohn7955]

Wow, I'm just shocked you mentioned Expert Alise thought am the only one trading with her

[@user-u818]

™Her services is one of the best I know, my portfoliÖ is receiving prÖfits every week™.

[@wilsonhumphrey9414]

™| just withdraw my pr®fit weeks ago, it was so §hocking when I withdraw $32,450 knowing I invested $3,000. I wish I could reinvest but, too much bills 😩 I reinvested lol 😉. ™

[@FireStormOOO_]

Good sponsor choice; no substitute for understanding the rules and the math.

[@martin43427]

These KZbin/SM “financial” influencers prey on peoples’ lack of knowledge in regards to financial planning and development. They present themselves as “like you” with their casual unassuming demeanor and their hyperbolic energy and reassurances for you to be just as successful is sick. These people don’t care about you. Or me. They care about their videos making the views. Getting the sponsorships. They may help you in having a basic rudimentary understanding of finances and stocks, etc., but that’s how they manipulate you into funding their colleagues fake ventures. They lull you into a sense of security just to pull the rug from under you and they’ll keep being lucrative and move on as if nothing happened while unsuspecting subscribers/viewers are left worse off than before. I want these influencers to stop being relevant and they just crawl back to their money pits and leave us alone.

[@bobbyward2440]

I still remember when coffeezilla made a video like 6 months ago about ftx being a ponzi scheme and just thought to myself.."obviously"

[@bennygerow]

Huge vouch for Patrick Boyle and Coffeezilla!

[@VisionLiberty]

Those financial influencers always say in every video that they aren’t offering financial advice and they tell you who’s sponsoring the video. It’s just entertainment and do your own research.

[@akanbikhalid6928]

STOP LISTENING TO KZbinRS FOR FINANCIAL ADVICE!!!

[@CheatPotionMaker]

Speaking of Personal Finance KZbinrs, Apparently Established Titles is a scam. Not that I saw spending 30 dollars of a useless piece of paper as appealing

[@loveandparty4118]

I always assume all companies have a chance of getting hacked, having my money stolen, or the company going bankrupt so I always don't put too much money into any one account - I always put an evenly spread percentage of my funds into each company/website. I think a book taught me that from what I remember.

[@oilbender]

So many people sponsoring masterworks even while being critical of crypto. I find it weird given how most know how shady the art market is. I'm just waiting to see how it turns out.

[@witekzak]

I value the content here on HMW just as I value the youtubers mentioned in the video and I think you're being a little harsh on them. I wouldn't say they ever intended to scam anyone. They probably draw a line in a different place than you do, but they never advertised any straight-out pump-and-dump shitcoins or anything similar, and that would have been 10x more profitable than their FTX sponsorships. The problem is that some people just blindly follow others - implicit youtuber advice, or just their own friends, when in fact they should be way more critical about stuff.

[@YaYousef5]

Excellent breakdown of the situation and good advice. Unfortunately these creators don't really care about their audience so it's unlikely they'll follow your sage recommendation.

[@mrkabaze]

I have to say that ad read was absolute gold it is relevant and ties up to the general vibe of the channel

[@patriciaa4451]

I don't understand and I've watched all your videos. How does money work?

[@annoloki]

You can fold it into a paper airplane then money go wooosh!

[@scottabc72]

If you have a lot, you will get a lot more. If you dont have a lot, you wont.

[@odddraken3929]

Love this channel, but how different is all the masterworks sponsorship?

[@williamyt6174]

I agree, they should also tell us their comp. But I'm a bit confused. Why can't they promote say, Robinhood? As long as they make it clear it's a stock trading platform, why would it be any more dangerous than using say, Meryll Lynch? (Not a YTer obviously, just curious).

[@RS-vu4nn]

Conflict of interest

[@williamyt6174]

@@RS-vu4nn Robinhood doesn't only sell Robinhood stock, and you need a brokerage platform. You're gonna have to chose one.

[@superchargedpetrolhead]

@@williamyt6174 if say for instance robinhood is involved in some massive money laundering and scams, you will never know until the music stops.

[@williamyt6174]

@@superchargedpetrolhead Robinhood is insured by FDIC for their cash and FSIC for their investments. So

[@superchargedpetrolhead]

@@williamyt6174 yeah that is one benefit with stock brokers, since that space is highly and strictly regulated, the chance of something going wrong is low but never zero. but in the case of these crypto scams, the chance of it going under is 100%, it is just a matter of time.

[@ryanbailey6401]

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.

[@mattywisey]

I have watched 2 of these people for years. Learnt some good things. Stocks and shares are good and better than leaving money in an account on no interest. Compound interest should be taught in school.... However all the crypto stuff, never believed it, never have, yes i might have missed some money, but i still also have my money! Don't even start me on NFT's.

[@raul12300]

Username checks out.

[@bugsbunny4647]

Chad

[@jeasonrandlett978]

You don’t need KZbinrs to teach you how compound interest works… it’s very basic. Same thing with the idea that you should never leave money in a simple bank account without interest. It’s basic knowledge. I’m with you that it’s should be taught in schools. The financial KZbinrs should be here to teach financial mechanisms, financial literacy, news, etc… never to give financial advice.

[@mattywisey]

@@jeasonrandlett978 I agree, however at least in the UK, the education system doesn’t teach anything to do with personal finance. And I didn’t get much advice from my parents apart from put savings in a bank account. So some people have to learn it from other places. Like YT. Like these people. But they took it to to far.

[@Shadowdoctor117]

idk I feel like Finance KZbinrs should not have finance sponsors. That just seems like bad business to me. Like sponsor coffee or something, not some crypto shit. Big agree on the video!

[@benweiss4956]

You sound just like the guy from “How History Works”

[@HowMoneyWorks]

Never heard of him

[@CM_Burns]

to me his vocal intonations sound like Chef John from Food Wishes.

[@extremeuzer3]

I think it’s also so telling that the only people who shilled out to FTX were finance KZbinrs with no finance background. Specifically talking about graham and andrei, I could be wrong about some of the other snake oil salesmen

[@rebeccacasey9419]

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.

[@chloetyler1166]

Very impressive!!! I'm going through early stage of divorce right now and it saddens me.Not quite long I started investing. I'm very curious and need help on how to enhance and increase my returns. Any good investment tips would be appreciated. It's hard to find someone that's reliable. When I see how what you've achieved by investing, I could really use your investment advisor., if you don't mind sharing her information.

[@rebeccacasey9419]

@@chloetyler1166 Generally, investing requires higher knowledge. For this reason, It's important to have a solid support structure (financial consultant) to guide you through especially in asset picking. I operate with (Kara Daly Sherman) an investment advisor who partners with a licensed wealth management firm. For the record, the experience has been the best for my finance. He is quite popular for his services so you might have heard of her. She made us financially stable by investing with her help, now I earn on a monthly basis through his passive income strategy... So I’ll advise you do get a good Investment advisor for yourself.

[@alvarezvanessa2248]

@@rebeccacasey9419 That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this person?

[@rebeccacasey9419]

@@alvarezvanessa2248 search For *Kara Daly Sherman*

[@rebeccacasey9419]

@@alvarezvanessa2248 leave her a message she's quite popular for his services as she was recently featured on CNN. He can work with anyone irrespective of the location.

[@InvestOrama]

It's time to call out all the influencers accepting financial sponsorship deals. Some are scammers, others just don't know what they are doing but they have a responsibility. Financial KZbin channels should only accept non financial sponsors, like brilliant.

[@jeremytheimer7443]

On Instagram I have had to probably block at least 100 ftx promoters. I just associated FTX with these scams so I never really looked into it. If you have to fake your wealth than what you are promoting is probably fake too.

[@feathercat9118]

Following financial advice from financial KZbinrs, is more akin to going to tictock for your medical problems.

[@stevel.3903]

I think I saw Masterworks as a sponsor on this channel promoting the outperformance of art investments vs "normal" equity. Shouldn't this be also a no-go then?

[@Go4Broke247]

Yes, it's a no go.

[@4.1132]

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.

[@stevencooper4422]

Calling out finance KZbinrs for being sponsored while being sponsored yourself is quite hypocritical. On top of that, the market lives and dies by the motto "caveat emptor". Fools who do no due diligence get no sympathy.

[@iidentifyasaPSLGoddess]

He didn't promote a "get rich quick" finance sponsorship, he promoted an EDUCATIONAL app about math & whatnot, what do you have to lose if you engagein it? If you don't want to learn then ignore it, so people shouldn't do sponsorships again? If you think people should just be chunking out entertainment & info without getting any type of compensation then don't watch youtube or any content creator on the Internet. Nothing in life is tor free.

[@SpencerHHO]

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.

[@chickenbuttermasala8458]

These people got me into good financial habits I love and respect me for them But they do deserve the criticism

[@TheHorseshoePartyUK]

I see your point, but there's a two edged sort to watch out for. Sometimes, if you have critical thinking skills, and put the time and effort in, you can find the worst people, sometimes, might have few true things to say. The problem is, is starting off by speaking simple truthes, then distorting things further, well that's how con-artists operate. Also, Cults.

[@billymoua6252]

Stranger danger ⚠️ never listen to strangers about your money. Good content, keep it up !

[@scottabrown575]

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.

[@debwinters2387]

I'm thinking of investing in the crypto market but taking my time to figure out how the whole thing works.

[@joshuajones7606]

Investing in crypto is very volatile and risky which is why most successful investors trade with professional brokers

[@debbygerrard9803]

The real risk in the Crypto market is the risk of not investing, not the risk of short term price volatility.

[@rolandanthony8112]

I have been investing in crypto but have had a bumpy ride. How can I reach your broker? I will appreciate any tip or pointers

[@jonneycarlos8179]

I once tried trading myself but made more losses than profits. I wouldn't suggest it to anyone

[@TheOnlyGHOST1015]

This is one of the Best videos explaining what happened especially when you use visuals 👏👏

[@giacomobellandi1757]

KZbinrs should stop following fads and start making responsible content like promoting value investing and good-quality strategies value-oriented like Everest Formula or Greenblatts' Magic Formula

[@annoloki]

There are plenty of youtubers that do, and youtubers that don't. It's up to the individual which ones to follow

[@MJ-uk6lu]

Bruh, that "old" car isn't even old.

[@semaj451000]

Maybe this opens the door for potential regulations in crypto. Unfortunately for crypto bros lack of regulation is what was keeping crypto volatile and tradeable.

[@TheHuntermj]

If they regulate crypto then what is the point of owning crypto?

[@codacreator6162]

Ironically, it’s regulation that makes Capitalism POSSIBLE. Note even the shadiest, most unscrupulous of the monied elite don’t actually want NO regulation, they just want regulation that they can manipulate and that skews the field in their favor. Anarchy is good for no one.

[@Palemagpie]

@@TheHuntermj what's the point In owning it now?

[@TheHuntermj]

@@Palemagpie none lol. The money made because it is volatile is still money but trading a worthless item is a scummy way to make cash.

[@hello-friend990]

When the Bitconnect scam fell apart in 2018, none of the KZbin influencers promoting them faced consequences. Nothing's changed almost 5 years later

[@carissamarcus5375]

I’m so happy I made productive decisions about my finances that changed my life forever. I’m a single mother living in Melbourne Australia, bought my second house in September and hoping to retire next year at 41 if things keep going smoothly for me

[@Ralph782]

_Congratulations beautiful lady. You’re really doing well for yourself, I’m 45 and my financiaI Iife is in a mess. Any great tips would really go a long way in shaping my life. I want to buy my own house, that’s really a big flex_

[@carissamarcus5375]

*Sorry for late reply dear, I used the FIRE movement to put my finances in order. Then lnvested in stocks, cryptocurencies and reaI estates though the assistance of an lnvestment Pro who helped me make it this big*

[@Ralph782]

_Thanks a lot for your kind response, I would love to connect with your financiaI consuItant_

[@Ralph782]

_Thank you so much. I’m really fascinated about lnvesting and I’m lucky I saw your comment. I wiIl Iook up for her and drop a message. You realIy inspired me. God bless you_

[@angelamorgana7731]

0mg....amazing to see someone who trades with Mrs Camille , i am currently on my 7th trade with her and my portfolio has grown tremendously

[@hannibalishungry]

They need to stop being so greedy. Research more because it’s supposed to be about helping people not just themselves. They’re wealthy but morally bankrupt.