RE: LeoThread 2024-12-25 01:23

[ahmadmanga]

How Money Works Videos Summaries #threadcast 2

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

This is a valuable channel. I learned a lot from it about #finance and #money. This is the second threadcast with its content, feel free to join, add to the conversation or Ask Me Anything.

#cent #bbh #freecompliments

Comments

[ahmadmanga]

The Billionaire Image

Billionaires spend millions on PR agencies to appear relatable and normal, despite their wealth.

Summarized by Llama 3.3 70B Instruct Model

[ahmadmanga]

Reasons for Crafting a Relatable Image

• 📈 Billionaires try to appear normal to get people to give them what they want, using a tactic called "poverty peacocking" to show they don't care about their wealth.
• 📊 Acting like an everyday person can be an effective sales tactic, making people more likely to buy into their companies or ideas.
• 🚫 By presenting a frugal image, billionaires can keep their workers in line, making it easier to push back against worker demands for better wages.

[ahmadmanga]

The Impact on Personal Finances

• 🚨 Buying into the idea of relatable millionaires or billionaires can harm people's finances if they follow their advice blindly.
• 📉 The emphasis on frugality can reinforce the idea that financial problems are caused by overspending, rather than low income.
• 💸 Even billionaires who pay for positive media coverage can contribute to this problem, making people feel guilty for enjoying small luxuries.

[ahmadmanga]

The Importance of Middle Management

Despite the common perception that middle managers are unnecessary, they actually play a crucial role in companies and are likely to outlast other positions due to their importance in management hierarchies, ability to motivate staff, and involvement in hiring and firing decisions.

Summarized by Llama 3.3 70B Instruct Model

[ahmadmanga]

Reasons for Middle Management Importance

• 📈 Middle management is important because it helps to translate the long-term vision of the company into actionable duties for teams, and ensures that teams have everything they need to perform those duties.
• 👥 Middle managers can motivate staff by rewarding hard-working employees and punishing slackers, and their existence can motivate people who want to move up the corporate ladder.
• 📊 Middle managers are involved in hiring and firing decisions, and are usually the last people targeted during layoffs due to their value to the company and the difficulty of firing them individually.

[ahmadmanga]

Common Criticisms of Middle Management

• 🚫 Many companies don't hire middle managers for the right reasons, such as managing processes instead of people, rewarding good employees with a management title, or promoting high-performing employees until they are given a job they are not good at.
• 🤦 Companies may use flawed systems, such as the Matrix organization or dotted line reporting, which can confuse employees and make it difficult for them to know who to talk to about what.
• 📉 Middle managers are often ridiculed, but this is often because companies don't understand the value they bring, and instead view them as unnecessary or inefficient.

[ahmadmanga]

Benefits of Middle Management

• 📈 Adding a layer of management can make planning and delegating tasks easier, and can help to prevent underperformance, malpractice, and fraud.
• 📊 Middle managers can help to reduce staff turnover by providing opportunities for advancement and promoting a culture where staff can easily get feedback and permissions from their bosses.
• 💼 Companies can avoid the high costs of hiring and onboarding new employees by introducing more managers and promoting from within, rather than hiring new staff.

[ahmadmanga]

The Truth Behind UPS Drivers' Six-Figure Salaries

The recent headlines about UPS drivers earning $170,000 a year have sparked interest, but the truth behind these numbers is more complex. With wages stagnant since the 1970s and many economists unsure of a pickup, it's essential to understand why some workers are earning more than others.

Summarized by Llama 3.3 70B Instruct Model

[ahmadmanga]

Reasons Behind UPS Drivers' High Earnings

• 📈 The media has exaggerated UPS drivers' earnings, which are actually around $92,000 per year, increasing to $102,000 over five years, plus benefits and overtime.
• 💼 UPS drivers have significant negotiating power due to their hard-to-replace skills and the company's strong earnings per employee, with each worker contributing $191,000 to top-line revenue.
• 🚚 The job requires a high level of skill and attention to detail, with drivers expected to practice the company's 340 methods to increase efficiency and reduce accidents, making them harder to replace.

[ahmadmanga]

Challenges and Limitations

• 🕒 Full-time UPS drivers work extremely hard, with an average of 15 hours of overtime per week, which can strain family life and overall well-being.
• 📊 Most UPS delivery drivers are not full-time and won't receive the same benefits, with part-time workers holding out for the chance to become full-time and earn more.
• 🚫 White-collar workers often don't fight for overtime pay, considering themselves above clocking in and out, and may be given phony titles to avoid paying overtime.

[ahmadmanga]

Negotiation and Career Strategies

• 👥 Collective bargaining through unions can significantly impact wages, as seen with UPS drivers, but individual negotiation is also crucial.
• 💼 Making oneself hard to replace by acquiring valuable skills and knowledge can increase negotiating power and earning potential.
• 📊 Understanding the opportunities and risks of a career plan, including the potential for automation and technological changes, is essential for long-term success.

[ahmadmanga]

The Rise of Corporate Espionage

Corporate espionage is a growing concern, with the FBI estimating it costs America $600 billion annually. This new form of Cold War involves companies using spies to gather sensitive information, posing a significant threat to businesses and jobs.

Summarized by Llama 3.3 70B Instruct Model

[ahmadmanga]

Types of Corporate Spies

• 🕵️‍♂️ The most common type of corporate spy is one that never crosses the line into illegality, working as market research firms or consultants.
• 📊 These spies collect information by asking for it, posing as fake customers, or gathering data from company employees through networking events and sites like LinkedIn.
• 📈 Another way to gather information is to buy shares in a company and attend shareholder meetings to gain access to private conversations with executives and directors.

Illicit Corporate Espionage

• 🚨 The second type of corporate spy gets a job in the target company to gain access to trade secrets, but this approach carries significant legal risks, including civil suits and criminal prosecution.
• 🚫 The third type of corporate espionage involves approaching existing employees of target companies and gauging their willingness to divulge sensitive information through fake job interviews or professional networking.

[ahmadmanga]

Notable Cases and Trends

• 📰 A high-profile case involved a senior Coca-Cola executive who used their position to learn industrial secrets about the company's chemical suppliers, with their employer allegedly having deep connections to the Chinese government.
• 🚀 The most common targets of corporate espionage are companies in high-tech fields, and the largest threat is currently from Chinese companies.
• 👮 Law enforcement agencies have reported a sharp rise in brazen intelligence gathering attempts traced back to Chinese companies, such as the alleged espionage carried out by Huawei in Denmark.

[ahmadmanga]

The Carbon Credit Bubble

The carbon credit market, a multi-billion dollar industry, is collapsing due to its ineffectiveness in reducing carbon emissions and its exploitation by companies for financial gain, with investors losing hundreds of millions of dollars.

Summarized by Llama 3.3 70B Instruct Model

[ahmadmanga]

Introduction to Carbon Credits

• 🌎 Companies buy carbon credits to offset their emissions and claim their products are carbon neutral.
• 💸 Two major non-profit organizations, Vera and Gold Standard, dominate the market for these credits and make money from fees paid by projects to register carbon credits.
• 📊 The price of carbon credits varies depending on the number of projects producing credits and companies buying them to make their products carbon neutral.

[ahmadmanga]

The Three Reasons for the Market's Popularity

• 📈 The first reason is to take advantage of new investment trends, such as ESG (Environmental, Social, and Governance) investing, which has become popular since 2008.
• 🚫 The second reason is that it slows down regulation, as companies can claim to be carbon neutral with voluntary carbon offsets, which are cheaper than mandatory carbon credits.
• 🤥 The third reason is that the whole scheme never worked in the first place, with a study finding that up to 94% of carbon credits sold never actually removed any carbon from the atmosphere.

[ahmadmanga]

The Collapse of the Market

• 📉 The value of voluntary carbon credits has fallen by over 90% in 18 months, with the price dropping from $19 in January 2022 to $1.77 in September 2023.
• 🚨 A new registry has opened in the Middle East to hand out offset certifications to companies that don't care about actual carbon reduction and just want to put "carbon neutral" stickers on their products.
• 📊 The fourth reason for the market's collapse is that companies have realized there are more effective ways to lobby against regulation, such as learning from the Koch brothers, who have used their money and influence to shape laws in their favor.

[ahmadmanga]

The Broken Hiring Process: Why Companies Love Multiple Interviews

The hiring process has become increasingly lengthy and wasteful, with many companies requiring multiple rounds of interviews for even basic jobs.

Summarized by Llama 3.3 70B Instruct Model

[ahmadmanga]

Reasons Behind Multiple Interviews

• 📈 The first reason is that multiple interviews increase a company's leverage in the negotiating process, allowing them to offer lower salaries and benefits.
• 💼 The second reason is that companies believe multiple interviews will make them a better company, following the example of prestigious companies like Google and Apple.
• 🕒 The third reason is that hiring managers and HR departments get paid for the time they spend on interviews, and filling their calendars with interviews justifies the need for additional manpower.
• 🚫 The fourth reason is that companies want a reason to reject candidates, and multiple interviews provide a way to do so without exposing themselves to legal liability.

[ahmadmanga]

The Impact of Multiple Interviews

• 📊 According to a report by the Harvard Business Review, high-performing employees are pulling out of job applications due to the lengthy interview process.
• 📈 The demand for recruitment services has increased by over 25% since the start of the pandemic, leading to more interviews and a longer hiring process.
• 📊 Companies use restricted stock units (RSUs) to force staff loyalty, paying employees in stock options that cannot be sold for a period of time, typically 2 years.
• 📰 The job market has been defined by trends like the great resignation, quiet quitting, and quiet hiring, leading companies to hedge their bets on the future and maintain a lengthy hiring process.

[ahmadmanga]

The Productivity Paradox

The constant pursuit of productivity can lead to a vicious cycle of laziness, stress, and financial struggles, ultimately making individuals worse off than when they started.

Summarized by Llama 3.3 70B Instruct Model

[ahmadmanga]

The Ineffectiveness of Productivity Advice

• 🚫 The advice often doesn't work, as productivity influencers have too much to talk about and can't provide personalized suggestions.
• 📊 A report by Psychology Today found that toxic productivity is a leading cause of anxiety and depression.
• 🤝 A study by the Harvard Business Review showed that employees who focused intensely on their own productivity were often toxic to their teams and delivered poor results.

[ahmadmanga]

The Cult of Toxic Productivity

• 📈 The global market for productivity apps is worth $9.42 billion and is expected to grow by 9.2% per year until 2028.
• 💸 People seeking to maximize their productivity are often wealthy and willing to spend money on solutions, making it a profitable market.
• 🚨 However, this cult of productivity can lead to wasted time and money, as individuals focus on optimizing every hour of their day instead of finding a sustainable work-life balance.

[ahmadmanga]

The Consequences of Falling into the Productivity Rabbit Hole

• ⏰ Reason 3A: Setting up calendars, reminders, and meditation sessions can waste more time than they save.
• 📊 Reason 3B: Focusing on not wasting time can divert attention to unimportant tasks, leading to decreased productivity and increased stress.
• 📈 Additionally, trying to optimize every hour of the day can lead to burnout, decreased job satisfaction, and poor business sustainability.

[ahmadmanga]

Test...

[ahmadmanga]

The Paradox of Financial Fraud

Financial fraud is at an all-time high, despite increased awareness, as people are more likely to suspect everything is a scam, except for actual scams.

Summarized by Llama 3.3 70B Instruct Model

[ahmadmanga]

Reasons for the Prevalence of Financial Fraud

• 🚨 Lack of checking: Nobody bothers to verify information, allowing scammers to lie about their business, and regulations hold back honest companies.
• 📊 Influence of influencers: Influencers promote get-rich-quick schemes, and their influence can lead to significant financial losses for their followers.
• 🚀 Rapid pace of new technologies: New technologies like cryptocurrencies, AI, and the internet create opportunities for fraud, as people are desperate to understand and invest in them.
• 🤝 Desperation: People are desperate for financial solutions, making them more willing to convince themselves that a scam is not a scam, especially with 62% of Americans living paycheck to paycheck.
• 📰 Sensationalism: Outlets prioritize sensationalism over factual reporting, contributing to the proliferation of scams and the erosion of trust in legitimate sources.

[ahmadmanga]

The Impact of Financial Fraud

• 📊 Big companies are getting ripped off by founders with questionable intentions, and regular people are targeted by smaller-scale frauds.
• 📊 The fastest-growing category of financial fraud is targeted at regular people, making it harder for them to protect themselves.
• 📊 Influencers know their influence won't last forever, making it tempting for them to make as much money as possible from their audience before they lose their following.

[ahmadmanga]

The Job Market Paradox

The current job market in America is characterized by 9.6 million job openings, yet many people are struggling to find employment despite the high demand for workers. This paradox can be attributed to various factors, including the way job openings are calculated and the strategies companies use to attract top talent.

Summarized by Llama 3.3 70B Instruct Model

[ahmadmanga]

Misleading Job Opening Numbers

• 📊 The number of job openings is calculated using a survey of 20,000 business establishments, which may not accurately reflect the actual number of available jobs.
• 📰 Companies often leave job listings up even after a position has been filled, contributing to inflated job opening numbers.
• 📈 Amazon, for example, had a staff turnover rate of 150% last year, resulting in 2.4 million new hires, but only one-third of new hires stayed with the company for more than 90 days.
• 📊 The company's web services utility computing team posted 25,000 job openings in 2022, but only 7,800 were actually approved to be filled.

[ahmadmanga]

Ghost Jobs and Their Impact

• 👻 Companies post ghost jobs, which are job openings with no intention of being filled, to build a database of potential candidates, gather business intelligence, and appear more attractive to investors.
• 📊 According to a survey, more than 60% of job postings have been active for over two months, despite 96% of employees claiming they are actively trying to fill the position.
• 🙅‍♂️ Job seekers can spend hundreds of hours applying for ghost jobs, only to be rejected or ignored.

[ahmadmanga]

Changing Job Market Dynamics

• 💻 The rise of remote work has led companies to post the same job in multiple cities, making it seem like there are more job opportunities than there actually are.
• 📊 People are now more likely to switch jobs every two years or more, earning 50% more than those who stay loyal to one company.
• 📚 Employees are forced to seek out skills and qualifications on their own to remain employable, as companies are less likely to invest in training.

The Rise of Entrepreneurship

• 🚀 Over 5 million businesses were created in America last year, with many people choosing to work for themselves rather than pursue traditional employment.
• 📈 Platforms like Etsy, Amazon, eBay, Uber, Fiverr, and YouTube have made it easier for people to start their own businesses and work independently.

[senorcoconut]

There's a whole series of what is money, with Michael Sailer and Robert Breedlove. And here's number 1:

[ahmadmanga]

I tried to summarize this, but apparently the video is too long for my AI... Maybe @mightpossibly's summary bot will do better at it.

What do you think, @anderssinho, @khaleelkazi, @taskmaster4450le?

[senorcoconut]

Yeah it's a long one.... and it's only 1 of 9. Thanks for trying tho. I hope people can still take the time to listen to this one.

[ahmadmanga]

That's cool!!

[gtfer]

Never seen it

[trghy]

That's cool buddy

[aurorak]

I can guess what Saylor would say.
Money is simply Bitcoin. Period

[kbdaddy]

Money Bitcoin, Bitcoin is Money

Subtitle

[senorcoconut]

Soory I don't have the summerizability...

[senorcoconut]

Oh and I sent you a different channel's video

[lineasdedios]

excelente

[ahmadmanga]

Thanks for checking this out!