The AI Hustle - No... ChatGPT Will NOT Make You $300 A Day.

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Edited By: Andrew Gonzales
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#ai #sidehustle #scam
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A good grift requires people to believe four things. People need to believe it’s credible, people need to believe it will give them wealth or a better life, people need to believe it will be easy and people need to believe the grifter has the secret to making it all work. AI is going to be a better opportunity for scammers than cryptocurrency, and it’s already starting…
I don’t need to tell you about chat GPT if you have been anywhere the internet in the last six months you already know all about what it and other programs like it can do… Designing images, writing code and creating content are the most time-consuming tasks in the most hyped-up industries, tech and online marketing. If you pay attention to this space, you will hear about people making enormous fortunes on a daily basis.
The challenge is coding, writing and creating digital media takes a lot of effort and requires talent and experience. Someone who needs quick money NOW doesn’t have time to learn about web development or take a photoshop course and AI is the answer to that. New programs can take basic prompts and create viable content which can then be monetized, except it just doesn’t work and idiots on the internet need to stop telling you it does. New AI programs are not going to make you rich and there are four reasons why that happen to line up perfectly with the ingredients that make a great grift.
The first reason is that the fields they apparently work in only reward top performers and AI doesn’t produce content as good as the best humans. The most frequently recommended AI hustle is creating fully automated KZbin channels. The business plan is to get chat GPT to write you a video, Midjourney to create a slideshow of visuals and some freemium online software to turn it into a video to post on KZbin and make that sweet ad revenue. To qualify for monetization on KZbin a channel needs a minimum of four thousand hours of watch time and one thousand subscribers.
That doesn’t sound like much but less than 1% of channels every qualify for the partner program and this barrier was so challenging for new channels to overcome that KZbin lowered the requirement to three thousand hours of watch time and five hundred subscribers. Even of the channels that gain enough of a following to be monetized most are only making a few dollars a day. It took me and most other creators I speak with [Richard, and Patrick Boyle] more than a year of making content before we were monetized. Making videos is time consuming so letting AI do all the work for you plays well into one of the key ingredients of a good grift, people need to believe it will be easy. The trouble is that AI is just not very good yet and the reason you don’t see many channels run by robots is not because people aren’t trying, it’s because the KZbin algorithm simply isn’t making them as visible because there are better videos made by real creators still putting in effort.
You may not like the weird energy of Mr Beast or the Paul brothers but they something much more engaging than an internet word generator, so they get millions of views and the millions of people trying to create automated channels get nothing. Drop shipping is another common grift that has the same apparent advantage which is really its biggest weakness. If you are one of the lucky few that has not had the drop shipping dream pitched to them yet, the business plan is to find overseas companies selling cheap products overseas using websites like Alibaba.
People selling drop shipping courses also rarely admit that your customer could also just go on Alibaba themselves and buy the product at the lower price. Creating content using AI runs into all the same problems, it’s pitched as an easy way to build a business or generate side income but it’s never going to compete with the people putting in real effort to bring a better product to market.
Well, the lack of competitiveness that a zero barrier to entry business has is just the first problem with thinking AI will magically make you three hundred dollars a day.
So it’s time to learn How Money Works to find out how an amazing technology is being turned into the world greatest grift.

[@HowMoneyWorks]

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

[@kaiwingo5558]

@HowMoneyWorks Hello, thank you for all your videos. They really keep me level-headed in an optimism-faced world. Can I ask you a question over a dm?

[@caojidan8913]

@@kaiwingo5558 He will never reply to you, because this is AI generated video...hahaha

[@tbraghavendran]

How can I contact you 🤔

[@Poopoocachoo]

It’s amazing to me how all of these people that were Real Estate experts became crypto experts in about two weeks and now are ChatGPT experts after another two weeks of study. So inspirational

[@jj093815]

Don’t forget the e-commerce experts.

[@blankblank1949]

"Expert" That got lucky during bull market

[@rexx9496]

The easiest way to get rich quick is selling uninformed people content on how to get rich quick.

[@PradedaCech]

We are just slackers for not following quickly enough.

[@jj093815]

@@PradedaCech they’ll say a career is for losers. Unfortunately this crap is all over KZbin.

[@patmarek1222]

The golden rule is: if it’s too easy, it’s a scam. The only people who make money of the AI craze is the folks selling courses.

[@commentchameleon359]

So I should create and sell courses…..

[@toptenyoutubetop10list28]

i used to give money for free just for no reasons,so it was so easy and wasn't scam. The problem is when is easy, ppl assume can't be real, lol

[@shimza0027]

​@@toptenyoutubetop10list28waaaaw,another side of the equation, well said.

[@citrosoda5370]

WAYS TO MAKE SIX FIGURES WITH CHAT-GPT 1: Get a job at Open AI

[@karolstopinski8350]

The rule of thumb is is someone makes 200$ a day by making videos about using ai to make 300$ a day instead of doing it themselves it's a scam.

[@irvanray1898]

what people really need to remember is that ChatGPT isn't some kind of magical AI that can create anything, it's just a very smart word generator.

[@milantarika7219]

Omgg true

[@edwinrivera5128]

yep, they make it seem like it's the Genie in a lamp when it's just giving brief answers that are not always correct.

[@neftana8]

YEEEEP

[@EA-tc6kb]

Yup tried it. Just a glorified google.

[@dimpho_simon]

​@@EA-tc6kb don't know how it does what it does, but for me it has enabled me to code faster than I could, but it can understand code

[@marcusmoonstein242]

The single biggest red flag is when the hustler tells you something like "it's amazingly easy" and "you can learn to do it in a few hours/days". Something that's so easy and fast that anybody can do it will end up being tried by everybody. Competition will then drive profits down to near zero. Just ask any Uber driver. What you want is actually the opposite of easy and fast. Businesses that are difficult to get into and slow to produce profits tend to be the most durable because there's less competition.

[@fbashipuk8476]

Over time of course but there are plenty of easy to do opportunities that people get rich off all the time Selling toilet paper during COVID for example!

[@johnpoole3871]

​@fbashipuk8476 Yeah, but by the time some hype man is pitching it to you, it is probably too late.

[@suzanneclark7706]

Reminds me of this quote “That was possession Any ghost can do that is less than one lesson Any ghost? Pretty much, any ghost will do, sure Then Betelgeuse What do I need you for?”

[@benji9107]

As a software engineer I can guarantee anyone they can't just use gpt to code them up a startup

[@useodyseeorbitchute9450]

My impression was that while programming it was giving +5 IQ, +80% to coding speed, +100% to pointlessly allocated variables and +50% to spaghetti code. Though getting a hint in the right direction was faster than on stack overflow.

[@arcadion448]

@@useodyseeorbitchute9450, it's a good aggregator of EXISTING information. If you try to ask it to do something that hasn't been done before, it won't happen. Even then you have to be careful about templated code it spits out, cause it can add non-existent API calls that need to be removed. Good luck having someone who's never coded in their life troubleshoot that.

[@cherrypoutines6269]

I asked it to program something i was working on, just to see how it would do it. After seeing the answer, I realized I had to give a hundred times more parameters and details and be super careful with my wording. Might as well just do the whole thing myself.

[@TheTaquitoProject]

@@arcadion448ah yeah, for a test I had it convert a couple functions to use a different api and it straight up made up nonexistent functions that did not exist within that api. I also noticed it sometimes likes to forget about module names in python or namespaces in C++.

[@netgamersk]

​@@cherrypoutines6269chat gpt even fails at creating unit tests reliably. It can speed up some tasks but definitely not gonna replace anyone. Love those videos where they act like chat gpt is gonna replace 95% of developers.

[@bhavsarp90]

This reminds me of the famous California gold rush story. The people who got rich were not the ones who ever found gold but it was the ones who sold the tools for digging. Same thing here but different flavours.

[@HowMoneyWorks]

That’s a great analogy

[@jasonhink226]

Well to be fair, if you make those kinds of videos and get millions of views, chat GPT does technically make you money

[@mtwata]

Well to be fair the title says chatgpt won't make YOU $300/day but doesn't say anything about him 🤣

[@Confucius_Says...]

🤣🤣🤣🤣🤣

[@kamsaumoy]

Wheres your millions of views? 😂

[@VictoriousGardenosaurus]

I think his money comes from KZbin

[@forsttco7712]

Selling shovels in a gold rush lol

[@KeithAdam]

I love the financial guru call outs… you’re one of the only real ones man

[@TopFinancialAlpha]

Me too! Some are just trying to get clicks but there are good ones out there. You just gotta hunt and peck for which ones appeal to you.

[@Bible-Christian]

He is just building rapport with you. Build a brand and also scam you. If you cannot best them. Then the only option is to join them.

[@dr.palsonp.h.d815]

Im glad you addressed this, I see these videos all the time with millions of views

[@HowMoneyWorks]

Someone has to ruin the fun

[@HPkobold]

@@HowMoneyWorks”Every party has a pooper that why they invited you” Dbza Guru

[@copiumkiller]

Just shows that emotional decision-making (often due to desperation) and low financial literacy is a perfect combo for scammers. Also a system, who have convince people that they not only cannot love themselves without any reason, but also need a super expensive adult toy to do it. So they waste years, if not decades of hard work chasing fool's gold.

[@averagewhiteguy2]

I wish KZbin would crack down on those types of finance KZbinrs. 99% of KZbin finance channels are garbage, clickbait, and/or committing blatant fraud or other various crimes (saying it is not financial advice, and then giving financial advice without being licensed is still illegal for example). I do like the Plain Bagel and Patrick Boyle for example since they are very clearly different from those types. That's the 1% of finance KZbinrs that should be allowed.

[@foilmew]

That's why I call them "soytubers" as in soydevs.

[@noneofyourbusiness4830]

At least, KZbin should display the number of dislikes again.

[@Skin_Man]

@@noneofyourbusiness4830 There are extensions that bring the dislike counter back (I actually forgot YT removed the dislike counter for a moment there!) but people still have to go out of their way to get it.

[@VictoriousGardenosaurus]

If a can't turn the sound off a fintubers video and follow along with charts and articles, then they are not sharing information that is worth my time.

[@VictoriousGardenosaurus]

@@noneofyourbusiness4830 #bringbackdislikes

[@jessefraser9826]

The problem with easy AI is that humans value stuff that is difficult. AI-generated stuff has essentially has no value as no effort was required to produce.

[@davidebic]

Yeah, exactly. Once something becomes easy to make it loses its value. But that's exactly what AI excels at. Turning some specific and repetitive tasks that usually require long hours to do into fast and easy tasks.

[@luxinvictus9018]

Not to mention, AI is the hands of a skilled person is always going to massively outcompete the unskilled alternative. Like, they recently said AI was able to pass the bar exam. But an AI law assistant in the hands of a competent lawyer will always outperform a non lawyer using AI. Law is obviously an exception because you need qualifications to practice, but it makes the point well. You could apply the same to art, programming and content creation.

[@thoneechomsky6310]

not exactly true, there will be some value while this stuff is new and if it is useful like discovering new medicines. People are overwhelmed by all the change and there is genuinely a need for people who understand ai to help others.

[@Hust91]

That's not necessarily true - humans value lots of stuff. They really value convenience and low barriers to entry. If a program can make someone's life more convenient and has a low barrier of entry it can become very poular.

[@JakeSmith-jy1kx]

I went to Las Vegas and asked chat GPT for vacation ideas given my desired parameters. That has zero value to a broad audience, but it was valuable to me, especially in comparison with the cost (free) and time (minimal). And crucially, AI is good at generating ideas, lists, itineraries, etc., that a human can then vet. It’s not blindly following AI, it’s getting customized tips that I am free to ignore or improve in the prompt.

[@wavestation999]

The real hustle is making videos and selling courses on how to make money online

[@CurieBohr]

Meet Kevin enters chat

[@jj093815]

They justify the course hustling by saying they want to help people.

[@krox477]

KNAWLEDGE!!

[@Tokoroa3420]

As an actual subject matter expert with stats degrees and who actually went to real AI conferences for years, I can assure you that there are only a handful of people in the world who can be taken seriously talking about LLM and none of them have TikTok or youtube accounts that present you get rich schemes.

[@billybobthornton8122]

Probably a bit more than a handful, honestly.

[@bananerz3167]

There is always these two worlds: the expert world that is quite difficult to access as an outsider without formal education on the topic and the Internet world where everything is presented as super fast super easy super fun and gets you rich quick but it's mostly a lie or at best contains half truths. Even when the expert world is more easily accessible most people don't care at all because it requires too much time and expertise and effort to follow. So what you get is a large amount of people on the first peak of the dunning Kruger effect curve

[@yjg30737]

It is really hard to find how to do image generation with coding in the Internet. They only talk about friggin AUTOMATIC1111 or something like that.

[@Rabbachino]

I am so very happy to see you put this video out. I am sick to death of channels claiming to use AI to make $50k a month or something like that without understanding the market they're in and treating every sidle hustle like a sure-fire way to make money

[@bartg5418]

For awhile I used ChatGPT to write regex for string parsing in R. But at this point it has taught me enough that I can write them faster by myself. AI chat bots are a tool for rounding out your skillset, not a replacement for it. Also, as someone who grades papers, it's really easy to tell when a student is using AI.

[@sp123]

AI reads like someone gaslighting

[@ryanflash4917]

But how do you prove they are using it that’s the problem

[@Impactframess]

^

[@jadaw644]

​@@ryanflash4917@tomduboiss Compare it to their past work. Human writing is usually influenced by "voice". Things like word choice and general understanding of grammar. If a student who could barely use a comma right is suddenly using advanced academic terminology and semicolons correctly, you can tell something's off. That's an extreme example, but you get me.

[@bingeonomics]

I have found that Chat GPT and other forms of AI programs have been hugely helpful in workflows that I've already ironed out - but are not a replacement. When you learn how to use them well, they can be great for efficiency and scaling, but people pitching them as a "get rich quick" plan are lying. A good example is, I find Chat GPT helpful to rewrite very data-focused and "boring" excerpts from a script - in a way that consolidates that info in a way that makes a video better. But the idea that AI will write a full high-quality script in a tone that matches your style is dumb. Same thing with AI art apps. They're really cool in some cases because they can make a visual element that you want for a thumbnail. But you typically need to take that AI generated element and edit it into your overall thumbnail manually - and do much of the designing yourself. Stuff like that. Great tools that can help hugely with efficiency and scaling but most people will try (and fail) to use them as an easy get-rich-quick tool.

[@ATPHardenedGamerOtaku1990]

@bingeonomics Correction: ALL people will fail 2 use it as an easy get-rich-quick tool.

[@karenwang313]

Yeah, this is pretty much what I do with chatgpt too. It's great for adding std:: to c++ functions or generate regular expressions or templates, but I'm still the one that has to do the actual coding.

[@advancetotabletop5328]

I fiddled with it for my hobby of solo wargames. It was too long-winded to automate enemies, reading more like cookie-cutter business consultant verbiage. However, for unique random tables for roleplaying games, it worked quite well. Specifically, I asked it for a “table of random passive aggressive sarcastic insults a medieval blacksmith would say when fixing your weapons and armor” and results were actually quite good! Now I need it to generate descriptions for damage from crossbow bolts… :D

[@justinhunt4767]

AI is for people that are lazy losers

[@clif-ue3wu]

I actually use chatGPT for my software engineering position pretty often, but it's output is so subpar. You can basically use the AI for creating the basic layout for the program. Further than that, you need to study on your own.

[@robertmazurowski5974]

Do you use the paid Chat GPT4? Are you good at describing tasks? In my opinion it is amazing.

[@IronJmo]

Same here. I use it to spit out boilerplate or outline a project.

[@Darth_Bateman]

One of the FIRST things I tried to do with chatGPT was have it teach me how an 8000-line code pull works. Every. Single. Time. It hallucinates a fucking function that isn't there. Every. Single. Time. I correct it. Every. Single. Time. It recycles back to the old hallucination after new hallucinations don't work. Wanna know what a better tool is for long code-bases? Refactoring. . . . I'm not surprised people aren't worried about this thing. They believe exponential growth happens indefinitely and don't understand the concept of diminishing returns.

[@NvrMakeUtubeAccount]

Same here, I use it to give me some borderline acceptable code as a starting point and then use my experience and knowledge as a software engineer to refactor and modify the code to suite my needs. You still have to put in the work.

[@clif-ue3wu]

@@robertmazurowski5974 I don't use the paid version. I basically ask questions like "How can I create [function] that handles [something] for a react typescript application". And then when I get that output, I'll ask it for specifics. If an error comes up, you just tell the AI the error code and sometimes they can fix it. But it really is a hit or miss, since they can't see all of your code.

[@Delmworks]

Most I’ve used ChatGPT for work-wise is writing policies, and even then it’s mostly a way to write up a checklist so I don’t miss something

[@itcouldbewill]

One of the most captivating parts of your videos is how you’re usually a third of the way through your video topics till you drop the “How Money Works” tagline casually. It keeps me so engaged wondering “oh my god when will he say it I NEED TO KNOW”. AI could never replicate that kind of dramatic suspense.

[@OlympusLaunch]

I think in principle it can, but the point is that it has to be precisely directed to do so with very specific prompting. In other words the 'driver' needs to already understand what constitutes a good result to be able to achieve that result.

[@SKARTLEAD]

In fairness to the grifters, my KZbin has been absolutely overrun with ai generated “science” videos with that infuriating text to talk and random slideshow template. It absolutely does work, these channels have millions of views (bots?) and the algorithm definitely bumps em up

[@giuseppe9501]

Noticed it too. Plus, how many videos have you seen lately with AI thumbnails, alot... AI channels are definitely viable.

[@Bigdog5400]

As much as I like him, I like how everyone is calling out Graham Stephan where he deserves it.

[@punsmith]

Graham is mostly a grifter like nigh all financial KZbinrs.

[@vdiitd]

I liked Graham initially when I watched his video 3-4 years ago. But majority of his videos are clickbait category and he tells the same thing again and again in every video.

[@DMAN590]

Not a fan of Graham his speaking cadence is incredibly irritating. If you pay attention he says every line exactly the same probably because he does them one by one and it shows

[@TopFinancialAlpha]

Agree with that!😊

[@michaelodetola]

The fact is that if everyone has access to AI tools, then you dont have an advantage, you're back to square 1

[@MiniNinja258]

Yes the secret is to be lucky and find the new thing before anyone knows. Or find what works specifically near you.

[@upsetforever7643]

Yes though there is no A.I. atm

[@Moonless6491]

Yup, then it's just about who can come up with the best prompt. I've been looking for legitimate ways to make money, but it seems that either most ways are really scammy, already saturated to the point of being pointless or barely profitable, or there are things the content creators aren't telling us or making it sound easy. I don't expect big money, I just want an extra few hundred a month. It just seems to me that most of these people get lucky with their KZbin channels then all of a sudden become "experts" about every money making scheme and some of them claim to have 40 businesses all bringing in money which doesn't sound right to me because why would they still have KZbin channels and how would they even have the time or staff they are claiming? Just really annoys me that the information I am looking for is always clouded by these money bros all over the internet. In my mind, work is the only way to make money, yet all these people are claiming they make thousands with no work whatsoever month over month.

[@s.kittles]

Everyone has access to brushes and paint so i guess we are all van Gogh now. Or even better, why not write a novel since you have pen and paper or perhaps you could write one with your pc or laptop? No? Just because everyone has access to it doesnt immediately mean its useless and everyone will become an expert at it lol. Why not make the next Hogwarts Legacy then since it was literally made with a FREE ENGINE EVERYONE HAS ACCESS TO. You get the gist i guess ;)

[@michaelodetola]

@@s.kittles You just proved my point. I never said AI is useless, its just that you don't have an advantage.

[@justinfowler2857]

The number one rule of the internet. If some tells you that doing or buying blank will make you rich it's a scam.

[@jamesstephenson3733]

I use chat GPT to HELP with my work when it comes to finding niche information. From setting up servers to virtual machines, it's been successful but it cant do everything for you. If I say "can you set up a server for me", it wont be able to do it. However, when I said "which ESXI file do I need for a 2012 R420 server" it provided me with the information I needed. You still need a base knowledge. It's a tool, not anything more or less

[@shadeblackwolf1508]

The gold rush didn't make pioneers wealthy. it made civ and shovel makers wealthy. In a goldrush, the real money can be made by those selling the tools you need to join the goldrush. In the crypto case, it was graphics cards makers for example.

[@newbie8051]

11:43 this is exactly what I shared with my juniors at the recent tech-event In our University. Even we are a student-club focusing on software, we regularly remind juniors that software is not all, people from other departments such as HR and sales are also very imp for an organization. Software is only going to help improve efficiency of other teams, It does does not replace the efforts of other-hardworking people.

[@runescapestats534]

Thanks for this video man. I love the practical no-nonsense analysis of finfluencer lies. Whenever I hear a friend or family member mention a too good to be true opportunity I’m happy to share one of your or plain bagel’s videos

[@HowMoneyWorks]

Bagel is a national treasure, even though he’s Canadian.

[@runescapestats534]

@@HowMoneyWorks haha yes agreed! We can unofficially adopt him

[@cassidynoble5466]

I dabbled with ChatGPT to assist in script writing for a non-fiction podcast. The software is a master at making things 'sound' accurate, but any deeper research shows that everything it wrote was incorrect. Example: 'give me the accomplishments of X chess player'. 'This player won Y tournament', if you look at the standings, they participated in that tournament but did not win. It doubled my work to research everything it wrote.

[@itssimonunleashed]

Chat GPT is just a more advanced version of google. Instead of combing through search results, you’ll get the info quicker. For example, how to format a resume for a specific industry.

[@luisfilipe2023]

“Nothing is ever easy guaranteed and profitable at the same time because if something was everyone would start doing it and it would cease to be easy or guaranteed or profitable” words important to remember when entering any business or trying to make money online

[@Demopans5990]

And by the time you do hear of it, it would be too late.

[@attila2246]

Yep, if it was as easy as just prompting chatgpt, why on earth would anyone pay you?

[@apoch4092]

FACTS

[@IncomeBoost42]

The lowering of monetisation requirements to 500 subs does not include ad revenue but rather just fan revenue like super chats…etc. You still need 1000 subs and 4K hours of watch time for that. But more importantly, channels using programmatically generated content are not eligible for KZbin partner program as per their monetisation policies. So those low effort channels will find it difficult to monetise content anyway.

[@TheGrikunduz]

I am literally making money from ai. But I use it as my assistant with a better english than me. I am a product manager for an international business and i regularly write reports. But my bad english was really slowing me down. But now i just put the keywords together and explain it to gpt. And he writes my reports for me. And makes money indirectly. This is how you profit off GPT

[@luismiguel69able]

if theyre trying to Teach you - it doesnt work. Otherwise they wouldnt share it with you.

[@unikat-kmnkmn2799]

True

[@osamsal]

Exactly

[@ThatLampTho]

AI has made me 50k+ for the past 2 years now. My secret? My employer wanted to implement AI into half of their products

[@SangoProductions213]

You're getting paid 25k a year for development?

[@NihongoWakannai]

​​​​@@SangoProductions213might not be working on AI every day

[@paulaumentado1588]

Post proof

[@OculusGame]

KZbin is so ironic, after this video ended it was about to autoplay a video about how to make $1k/day using AI and only your phone🤣

[@Armin99_]

Well said. The problem is that, by definition clickbait works for gathering a larger audience, meaning you have to dumb down the content. Most content on here is surface level by design. Huge financial channels are good entertainers, don’t listen to them for actual advice.

[@avicohen2k]

This was a very generalized video that could be said just about any side hustle online. I found it funny that the how money works intro keeps popping later into the video and it's already half way into it.

[@Blackjack09721]

I still don't get why people over a certain age believe people would tell them how to become millionaires easily. Lol, it makes no sense to me why they think people would be that helpful for free.

[@jinyboi]

Because people are enticed by the idea of low effort get rich quick shenanigans

[@HighTide_808]

People being trying to get rich quick for hundreds of years. This isn’t new

[@Blackjack09721]

​@@HighTide_808 you would think with that much exposure and evidence of fraud, people would be aware and say nah.....it can't be that easy.

[@putinski666]

​@@Blackjack09721I hear you. I keep saying the same thing. Why the fuck would anyone offer you a way to become rich with a very convenient model and not do it themselves? How people fail to ask this simple question and get assraped over and over and over is just astonishing.

[@Thomas-po4ex]

I keep trying to use AI like ChatGPT for my work as a software engineer in the aviation and military sector. The results from AI are a little concerning though since the AI describes everything like it knows exactly what it's talking about yet the information it gives is often wrong or misleading. AI is still useful for some simple questions, and I have found myself using AI for some stack overflow type questions and it seems fairly good at getting you a slightly faster stack overflow experience but still nowhere close to replacing me or making my job much easier. Especially since the infrastructure I work with it is critical that everything works properly and is tested diligently. AI has just not been reliable enough for me to use it very often. I still think it can be a helpful learning tool and can explain/write syntax quickly for simple problems which makes it not completely useless in the software development space. But anything beyond you still need skill and to know what you are doing.

[@me0101001000]

The alarming thing for me is seeing people in the tech sphere make this claim. I find this very upsetting. As a professional and/or expert in the field, you have a duty to educate and help people. This kind of grift spits in the face of that duty. If you ask anyone who works in anything tangential to computer science and engineering, they'll tell you that these promises for AI making you millions is both economically and computationally laughable. At least, it is today. If I see someone who isn't trained in tech talking about it, I just think it's a generic grifter who might be smoking their own stash. But when it's someone with demonstrable knowledge of the tech taking advantage of people who don't, I think that's extra scummy.

[@nutplasma]

It won't make you millions but will let you do things that you cound not do before, which would then give you a competitive edge

[@storyleaks1681]

If you want to use AI to become rich, you need to be smart in the first place. Want ChaptGPT to write you a good ad? You need to know what makes an ad "good" in the first place. Same thing with content creation.

[@ramenaddict1676]

exactly. this is why AI art is an insult to real artists. the rise of AI """""""""artists""""""""" have the audacity to sell commissions is laughable.

[@batriam5921]

The biggest reason is definitely that most people have no idea what chatGPT is and how it works. So it's pretty easy to sell it like snake oil and pretend it's magic, omnipotent, etc.

[@siddharthsingh913]

Every couple of years there is a fad word which people hype so much to mint money. This year its AI, chatGPT, etc. Before that it was Blockchain, crypto, NFTs, etc. And before Blockchain, it was Data Science. And the list continues. I'm really excited to see what that next word will be?

[@appa609]

Chat GPT can't give you a competitive edge but it can help bring you up to par on any blind spots. Maybe you're a mechanical guy building a robot and stuck on implementing some controls code. There's a lot of jobs that are basically implementing existing solutions to new problems that can benefit this way. Also, public AI services will increase the overall productivity of the workforce. Just because everyone else has access to it doesn't mean it's pointless. The Economy is not a zero-sum game.

[@Lonovavir]

Thank you for posting this, when I saw the same people who shilled FTX shilling AI I decided not to chase the trend. Also, you don't need clickbait titles, quality information is superior.

[@silverchairsg]

The best way to think about this is to think about previous "game-changing" innovations like smartphone apps for example. Remember the app boom and craze in the early 2010s? A few folks were earning tons of money by creating apps and selling them on the app store. Yet those were like the 0.1%, and 99.9% of folks who tried the same strategy ended up making little or no money. So ChatGPT's going to be the same thing when it comes to how many people end up actually getting rich from it, and it's likely also going to apply to the next thing after ChatGPT.

[@taylanhoca]

TLDR; If something is easy to create and everyone can do, it always becomes worthless after a while.

[@computerguy1579]

Excellent video. I've been working the last several years as a software engineer and have had spent quite a bit of time working with AI in different capacities. The thing about ChatGPT is that it's not really that new of a concept. The capabilities it has provided to the common public have been in use in most of the spaces that these grifters are trying to sell common people on. Using AI to build trading models or write code has already been in use in many places to the point that anyone thinking they're onto some revolutionary idea by using AI are late to the game. Furthermore, those who have been using AI tools quickly understand its limitations and understand that it is most useful as a tool to handle more mundane tasks. I can't speak much more to other fields, but in software engineering, AI can write basic programs, apps, websites, etc, but once you want to get into something more specific, the AI really struggles. Plus it is unable to maintain that site, app, or program. What it is useful in doing is building pieces of code that do something specific, and as such, a software engineer gets the most use out of it by understanding the problem, then using AI to generate pieces of code that help solve the problem. It's hard to get into deeper details in a KZbin comment and would probably bore most anyway, but the point is that people aren't going to make any significant money with AI just by telling it to make money or automate content when anyone else can do it for the same cost and also that AI has been in wide use long before ChatGPT, so regular people that have access to AI through ChatGPT are not going to come up with something new and easy that hasn't already been considered before. Making money is still going to take work and understanding the market you're working in. AI does not change that.

[@MistressMira]

Really glad you called this trend out and broke down the grift, as well as highlighting more reputable KZbinrs 😌

[@SAnderson54]

I love that you pointed out the select few who will profit greatly from the technology in its current iteration. The outputs are still subpar. I thought 60 minutes did a decent 20 min segment on it as well.

[@MaJetiGizzle]

As an AI/ML Expert, I can tell you right now that you will not make even $100 an hour with it in the overwhelming majority of cases.

[@MaJetiGizzle]

@@kidmosey I highly doubt you learned Rust in a weekend without any programming background whatsoever. More likely than not you were already a programmer or someone learning programming who picked up some of the basics and could potentially apply the language in some relatively simple projects or features in a larger project. So ultimately that’s not you making money off of using ChatGPT. That’s you using it as a tool to teach yourself a valuable skill that might make you money if you get/have a job where you can apply it. That’s not the same thing as directly using ChatGPT to make money.

[@luxinvictus9018]

If the bar of entry is very low, then competition is usually very high and rewards are largely diminished. Also, if you aim low, you are likely to fail.

[@whatrtheodds]

It takes advantage of the poor souls that don't realise how low they sit on the totem pole and they don't have the smarts or power they think they do. I came from poverty and I realised how I didn't realise at the time just how poor resource and knowledge wise I was compared with everyone else.

[@debasishraychawdhuri]

ChatGPT does pass the bar exam, but not any technical exam. ChatGPT only does well when memorizing stuff helps too much and understanding is not that much required.

[@dread1512]

as a software developer, chatgpt has improved my productivity by 200%, i'm not kidding. But there is absolutely NO WAY someone without dev knowledge can do anything with chatGPT. You NEED to know what's going on and what exactly you want when you type your prompts. It's impossible without technical knowledge. You also need to know where to implant/modify the code snippets AI is providing you. Plus, you don't even gain an "edge" when using chatgpt in the development/programming field. Everyone who knows coding are already using it.

[@quintonglencamp4115]

The main thing with ai , especially chat gpt you have to be as specific as possible and give as much context as possible. Sometimes it takes 5-10 prompts to get to where you need be especially when using gpt 3.5 models , people sell you the dreams that what it can do but don’t sell you on exactly what to do that’s outside of generic scripts.

[@mamotalemankoe3775]

Ben Felix is massively underrated, he goes into signifiacant detail on counter intuitive topics and breaks layman expectations on fincacial principles using empirical data . Watching all four, (Boyle, Bagel, HMW and Ben) gives one a robust educational and entertaining financial experience. Great video.

[@finnwheatley2194]

As an ML architect and ex-hedge funder, well done! :D

[@kingragnar7837]

Need your Instagram iD

[@ahmadazari4686]

As someone who is trying to become a content creator, I've been really bothered by the amount of AI and CHATGPT content thats out there and how fake and misleading it is. Im so glad you made a video about this. But im forever frustrated at how people mislead others and create garbage content and sell it to clueless people.

[@worldview2888]

LOVE this video. well made. well produced and importantly TRUTHFUL. The amount of BS content for the sake of forcing rubbish out on YT is too misleading these days.

Conclusion: You can achieve anything you set your mind for that it depends on how much work and effort you put into it! Chat GPT is just a very useful tool.

[@davidebic]

I think most people just don't understand what purpose LLMs have. They expect them to be the magic tools that will fix everything in their lives (also due to some idiots advertising them that way), but they aren't. LLMs excel at doing what they should do, which is writing text. They are absolutely unbeatable when it comes to assisting in writing. But the information should be put in by you. LLMs are not able to produce new information. They can only recreate what they were trained with. So do not expect anything groundbreaking to come from them, as anything they can do was already made before. That is, at least for now. Recent AI papers have been pushing a lot CoT techniques which try to imitate human reasoning. And thanks to them LLMs are performing way better at reasoning tasks. To be fair, this comment is only valid as things are now. I think in a year or two AI might actually become able to create something. As for them becoming omniscient beings that can solve all probelms a human can solve... it will take at the very least a decade. Probably more. But who knows "Attention is all you need" was enough to push the boundaries of what was thought possible in just a few months. A second paper of that level might be just enough to completely change everything.

[@laurentiuvladutmanea3622]

Your comment has a problem. LLMs are not developing any reasoning capabilities, and they are not build in a way that allows reasoning. They are just mindless word generators. That is it.

[@davidebic]

@@laurentiuvladutmanea3622 You are right but wrong at the same time. Even though it is true that they are currently mindless, if you read any paper about Chain of Thought techniques on language models you'd know that's not entirely true. They can somewhat imitate human reasoning. It works better in some cases than others. They even had GPT-4 manage to progress in Minecraft through sheer reasoning. They might still be lacking in pure understanding, but I don't think it will stay so for long. If you are interested just look up for example GPT Minecraft on Google and you'll get plenty of results.

[@davidebic]

@@laurentiuvladutmanea3622 As for there being a structural problem that doesn't allow Neural Networks to reason, I think it's highly unlikely. We are just still incapable of training them to have good understanding. They might even just lack in size.

[@cristospo]

Love it when you take a shot at Andrei Jikh and Graham Stephen 😅

[@MinisterRedPill]

Im a noob and agree that AI is not replacement (yet) for content creation. Its outputs can be helpful but they are generally blend. Many will say that you have to be good at prompt input, and to some degree that ia true, but the caveat is that YOU still have to be creative and be knowledgeable about your craft for the prompts to even work successfully.

[@opensky1710]

The first question that comes to my mind is, "Why do these people reveal all the secrets for free?" The answer is straightforward: "They cannot make money with AI, so they are doing KZbin."

[@rafario448]

like always, learn to recognize the massive redflag that is shown when completely random people are extremely pushy for you to try something out. Never believe in discourses that claim "this is the future", "you must learn this as quick as you can to stay competitive".

[@Wolcik3000]

the grit should be not just AI making crappy videos, but having multiple AI accounts watching and rating them :)

[@elixorvideos]

I love how you framed investing as NEEDING to be boring. Investing SHOULD be extremely boring, that's how you know you're going to make careful decisions. If you think investing is genuinely exhilarating, akin to riding a rollercoaster, you're going to have a bad time.

[@mikeb6085]

I've noticed a couple genres being flooded with AI channels everyday: geography and architecture (specifically megaprojects) There's channels with identical, or near, thumbnails and titles within these genres. They inevitably post 10-20 videos then apparently give up or get demonetized. If the unoriginal scripts and robot voice aren't a giveaway, they almost always have a corny channel description, and no external links to other social media.

[@carultch]

One red flag to me that a video is AI generated, is when the narrator has a flawless English accent of a native speaker, yet fails on even the most basic of word conjugations.

[@Reset3]

8:58 Ah, I see you're a man of culture as well. They are the GOATs indeed!

[@CurieBohr]

My employer requires college credits to earn pay raises. ChatGPT + online classes = easy raise

[@mohammedelsharif7683]

Very nice video. In my opinion, it explains the problem simply, which is not an easy feat, especially for experts in any field. Kudos for that. My feedback is that I believe it lacks a segment discussing the advantages of ChatGPT. While I don't think this omission was intentional, I feel that you presented a black-and-white perspective on a nuanced topic. Yes, grifters are problematic, but there are benefits to utilizing such tools.

[@SunnyOfficialYT]

THANK YOU for making this video!

[@rip2pisces]

0:08 as a Malaysian it’s nice to see a Malaysian car gets featured as wealth 😂

[@hannibalishungry]

THANK YOU for this video! It's so annoying KZbinrs making more money talking about chat gpt than actually using it

[@tjfer11]

i figured it was similar to the crypto hype as soon as i started seeing advertisements offering "chat gpt can make you $$$$ per month/week" but its just a reason for them to get you roped into something. often funneling traffic while actually not giving any new info...

[@sheeeesh981]

I think AI doesn't make you a good fortune, but sometimes it could help to do so. Believe it or not, I'm a 15 year-old boy living in Russia and I am very keen on programming. My father has told his friend that owns a company that there is a kid [me], who knows programming decently. My task was to create 3 types of AI-models: for classification task, detection task and segmentation task (This was required for a company that treats oncology). I wasn't quite familiar with Machine Learning at that time, but I knew that ChatGPT could help. With my knowledge of programming and ChatGPT help, I was able to finish my work and give it back to my "customers". This was a great experience and I have made approximately 1000$! This is A LOT for me, considering I've made it myself at such age

[@rhinosaur9636]

Heck yeah man, keep going!

[@sheeeesh981]

@@rhinosaur9636 appreciate it man

[@bigpigfarm]

мегахорош

[@QuFox]

I like using ChatGPT in my job, its a handy tool that helps me get repetative and boring jobs and tasks done faster, its however basic. You need to spend time refining and perfecting your prompts. You also need to spend time correcting mistakes and fact-checking information. I like to use it, but its far from the perfect tool, its a tool that you can use. But thats it, its a tool, you need to learn and get to know it to get it to get a good result. The more I use it, the less I seem to understand why it does some things. We need to learn how to use this tool, I do believe that. Fact check the information and it still requires your job specific skills to get the best results. TLDR: Its a handy tool, but nothing more then a tool. Learn to use it as a tool.

[@patrickbaker6092]

Thank you for this INFO THIS IS I WATCH YOUR BLOG KEEP IT 💯💯💯

[@mokxafitx]

I use a few AI 'plug-ins' for my gym.. its mosly for SMM & lead generation & client onboarding... I still have to create it, it has to be uniquely my brand It will never be zero effort game, You WILL have to hustle It just helps you manage time for other skills too

[@jimhalpert0]

You can only succeed with ai if you're smart and know exactly what to pump out. You can't just generate images, make posters and try selling them

[@assaultressgamer]

I tried buying items from Alibaba as a consumer and I can’t. It requires you to transact as a business. And usually requires bulk orders in the hundreds or thousands depending on the item.

[@Radi0he4d1]

Aren't there middlemen who do this specifically on your behalf?

[@laulapchun3000]

There’s a lot of scammers / fake gurus out there. However there are also real people making money with chatgpt. These are often business owners, not your average jones. I think is important to take this with an open mind, because it is definitely possible to make money with anything, it just a matter of how much you earn per hour for that work.

[@RandomButBeautiful]

the crazy thing about drop shipping is that the top stores sell millions of dollars worth of something that can be bought on ali at 10% of the price and that the public simply doesn't bother to check. Same with so much of what is on amazon

[@rossamullen5918]

What if we put AI on the blockchain?

[@HowMoneyWorks]

LOL

[@personzorz]

Don't cross the streams

[@frostbitex23]

I almost fell into this crap due to my worries about paying off medical debts. I'll take note to focus on my already honest living.

[@Lonovavir]

A big red flag is that the same people who shilled FTX/Cryptocurrency/NFTs are the ones shilling AI.

[@jessicalulila5709]

That's probably why many of these Ai channels mostly use KZbin Shorts because over a minute of that would be really boring

[@EventHoriXZ0n]

It's true- the old ways of doing business, like not designing your business model around a profit loss, really are the best way of doing things

[@-__-_-_--__--_-__-_____--_-___]

dunking on graham stephen is hilarious

[@ordinaryhuman5645]

6:28 This actually isn't that ridiculous. Most fund managers are worse than average, which is why index funds are so great. It's not too much of a stretch to think that AI aggregating and averaging out the financial news nonsense might be able to perform at that level, if you think little of most fund managers to begin with.

[@HemmiezRS]

thumbnails might not be clickbait but we still love em, good video as always!

[@jeshkalasznikov6916]

Thanks! We need somebody like you who is telling the truth about AI fomo.

[@juhel5531]

There's one style that is timeless and synergizes so well with the new AI stuff streamlining it. Strict slick professionalism with the appearance of effortlessness. Ironically, that kind of presentation style requires the most effort and AI tools radically lower the effort but it still suffers from the same problems. Only the few absolute best will get paid and be considered "real" presenters of the style.

[@killgriffinnow]

I cringe so hard when I see these ads, any new tech that people don’t understand instantly attracts a million grifters like flies to rotting meat.

[@bigdamij]

Lol the not so subtle flaming was perfect

[@finned958]

All investors should put a little money each month into an index fund whether from a fund family or on the stock market ETF (like SPY). There’s no individual stock. Buy when stock market is high or low although buy more when low and you’ll know when that is. Risk is spread out.

[@WisdomWave25]

While AI certainly doesn’t allow an “easy” income, it definitely speeds up the process if you’re underlying business idea is solid. Just like any other software, it speeds up work rather than making anything easier!

[@ciaran3409]

Definitely agree! There’s no easy way to make money

[@NihongoWakannai]

It depends on your use case. I feel like chat GPT fits into a particular niche of being good at giving you opinions or quick drafts, but anything else it's kinda just bad at.

[@j6873]

Yeah it’s just an excellent productivity tool.

[@strydersoucie1024]

...Is it just me or has he been moving the "It's time to learn how money works" later and later into the video? Can't wait for April fools where he says the tagline then the video just ends

[@TheRogueRockhound]

1:56 where did you get that stat man? The results I get when searching say +/-10% of channels are monetized. Links if possible. Thanks

[@Talha27]

😊 Informative Lesson ❤.