Why Are Unpaid Internships Still Legal? Defending the Indefensible - How Money Works | How Money Works

The Problem With Really Smart People Upgrade the way you learn with Brilliant! To get started for FREE go to http://www.brilliant.org/howmoneyworks Sign up for my newsletter https://compoundeddaily.com 👈 There is a problem with really smart people that is making you dumber and poorer. Social media platforms like YouTube, Twitter, TikTok and Facebook have allowed us unrestricted access to the greatest minds in the world. It’s also let us interact with these people instead of only being able to read their curated publishing. Being able to watch hours of interviews with world renowned scientists or tweet directly with influential business people is amazing, but it creates 5 big problems and when these very smart people start talking about investing and personal finance those problems end up costing regular people lots of money. Problem number one is the issue of false authority. We now know that the average person puts a heavy weighting on the advice of smart people but even the smartest people in the world don’t know how you should invest your money. An investing strategy is a very personal thing because it needs to consider your income, objectives, risk tolerance, tax strategies and current financial position, without knowing these its impossible for even the smartest investor to give good advice. The problem for a lot of people is advice can be expensive and licensed professionals are also obligated to give people cold hard truths that they might not want to hear, such as you are never going to get rich earning $50,000 a year. People don’t want to hear this so they look to smart people who are not afraid to give advice to see what they recommend. Someone like Meet Kevin is obviously a smart guy because he has made millions of dollars investing into real estate and meme stocks and then millions more by talking about investing into real estate and meme stocks on the internet. The advice he gives carries a lot of weight because he presents himself as an in the know figure that is willing to teach you the secrets of becoming wealthy from humble beginnings like he did. Compare this to a boomer like the plain bagel who is only going to lecture you about how your portfolio is never going to MOON and that you should instead take your time to write out clear objectives and work those into a realistic budgeting and investing plan. So it’s time to learn How Money Works to find out how listening to really smart people is costing us all a lot of money #investing #business #howmoneyworks ------- Edited By: Andrew Gonzales Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images For sponsorship inquiries, please contact [email protected] All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind. Follow to learn How Money Works. Find How Money Works on YouTube: https://www.youtube.com/@HowMoneyWorks Disclaimer: This podcast is an independently produced audio adaptation of content originally created by How Money Works. It was developed by a fan who values the channel’s clear and engaging approach to financial education, with the goal of making that knowledge more accessible in a hands-free, audio format. This is not an official production of How Money Works, and it is not affiliated with or endorsed by the channel. All rights to the original video content remain with How Money Works. For any concerns, inquiries, or content-related requests, please feel free to reach out. - -------------------

How EVE Online's Massive Virtual Wars Are Financed - How Money WorksSign up for my newsletter https://compoundeddaily.com 👈eve online, (a massive multiplayer online spaceship game) is probably best know for two things.Making headlines about it’s massive in game conflicts involving tens of thousands of players and it’s incredibly realistic in game financial system which can make loosing a virtual spaceship just as consequential as loosing a phone or a car in the real world.Countless magazines, and even much more successful YouTube channels have talked about these two factors individually, but where I think they get really interesting is when they merge together.For a game about spaceships set 21,000 years in the future, EVE is surprisingly realistic, and that realism extends to these massive wars in the sense that they are expensive. The in game currency called ISK has an approximate exchange rate of about $6 per billion in game isk. Although it must be mentioned that trading this in game currency directly back or forth for real life money is actually against the rules of the game for now at least and will get you banned.Even still, this shows that in game assets have a very tangible real world value on the grey market, so when you see headlines about trillions of ISK been lost in these epic battles it gives you an idea of just how expensive it can be to wage entire wars in EVE Online.But this all begs a bigger question…Who or what funds these wars?With a price tag of hundreds of thousands of real world dollars and nothing but virtual space pride in return, it doesn’t sound like a very good deal… Right?Well, it’s time to learn how space money works, if you enjoy this video please consider liking and subscribing for new video’s like this one made every week.Ok so there are three really interesting and unique ways these major wars have been funded over the past 2 decades that this game has existed. But let’s start with the most basic one.#EVEOnline #EconomyOfEVE #HowMoneyWorksMusic by Epidemic Sound & Eve Online Original SoundtrackSign Up Link (if you want to try out the game) - https://www.eveonline.com/signup?invc=ef33cafb-0aa2-4051-9f03-55dc800247c2(This link gives both you and I rewards in the game)Follow to learn How Money Works.Find How Money Works on YouTube: https://www.youtube.com/@HowMoneyWorksDisclaimer: This podcast is an independently produced audio adaptation of content originally created by How Money Works. It was developed by a fan who values the channel’s clear and engaging approach to financial education, with the goal of making that knowledge more accessible in a hands-free, audio format. This is not an official production of How Money Works, and it is not affiliated with or endorsed by the channel. All rights to the original video content remain with How Money Works. For any concerns, inquiries, or content-related requests, please feel free to reach out.

Everything You Need To Know About the Chinese Evergrande Crisis (So Far) - How Money Works Sign up for my newsletter https://compoundeddaily.com 👈 For those of you who are not already aware this has the potential to be far more than a run of the mill corporate bankruptcy. Evergrande employs over 200,000 people directly while also providing work for as many as 4 million subcontractors who work to erect thousands of buildings for the company every year. Beyond just job losses, the company is also holding deposits for 1.5 million properties that may not be delivered to regular Chinese citizens who were just looking for a home or an investment property. Now loosing a home is terrible in ANY country, but perhaps nowhere more so than in China. The value of these properties compared to the incomes of people buying them is astronomical, and it often takes multiple family generations to save up for a deposit. Because of this, real estate has become basically the only thing that most people invest in, and over a million people losing that investment will have massive knock on economic impacts beyond just putting people out on the streets (as is that wasn’t bad enough already) Despite these social issues and the apparent threat to the national and global economy the Chinese government has said that they are not prepared to bail out the company. Why? Well politics… but there are a few things that you need to understand about this crisis as we watch it play out in real time. The first is how this collapse actually started in what looked like an otherwise very healthy company? The second is how bad could this get if the government does not step in? And the third is, Will this all be contained? Or could this leak out and cause an economic collapse in countries outside of China? #Evergrande #ChineseEconomy #HowMoneyWorks ___________________________________________________________________________ Link to my brand new Patreon 👉 https://www.patreon.com/HowMoneyWorks ❤️ ___________________________________________________________________________ Music by Epidemic Sound ___________________________________________________________________________ Follow to learn How Money Works. Find How Money Works on YouTube: https://www.youtube.com/@HowMoneyWorks Disclaimer: This podcast is an independently produced audio adaptation of content originally created by How Money Works. It was developed by a fan who values the channel’s clear and engaging approach to financial education, with the goal of making that knowledge more accessible in a hands-free, audio format. This is not an official production of How Money Works, and it is not affiliated with or endorsed by the channel. All rights to the original video content remain with How Money Works. For any concerns, inquiries, or content-related requests, please feel free to reach out. - --------------------

Why Finance "Gurus" Want You To Hate Them - How Money WorksFind out how many times your information has been leaked on the dark web by trying Aura for 14 days completely free: http://Aura.com/HowMoneyWorksSign up for my newsletter https://compoundeddaily.com 👈Thanks to Aura for sponsoring this videoFinancial charlatans promising people the secrets to getting rich quick have been around for as long as capitalism itself.These people will present themselves as wildly successful before offering up the secrets to their success for a steep price.The modern incarnation of scummy business model got it’s start with cheesy so called “financial Gurus” who would pay for ad spots on late night TV infomercials. Today the practice has become more popular with social media platforms like Facebook, Instagram and TikTok giving these men direct access to millions of potential victims.But if these men are trying to convince people of their supposed financial brilliance, why don’t they present a more professional image? Financial charlatans promising people the secrets to getting rich quick have been around for as long as capitalism itself.These people will present themselves as wildly successful before offering up the secrets to their success for a steep price.The modern incarnation of scummy business model got it’s start with cheesy so called “financial Gurus” who would pay for ad spots on late night TV infomercials. Today the practice has become more popular with social media platforms like Facebook, Instagram and TikTok giving these men direct access to millions of potential victims.But if these men are trying to convince people of their supposed financial brilliance, why don’t they present a more professional image?#howmoneyworks___________________________________________________________________________Link To The Capitalists Discord where I hang out with other creators - https://discord.gg/8MeNJ7gfSRMusic by Epidemic SoundStock footage by StoryblocksFollow to learn How Money Works.Find How Money Works on YouTube: https://www.youtube.com/@HowMoneyWorksDisclaimer: This podcast is an independently produced audio adaptation of content originally created by How Money Works. It was developed by a fan who values the channel’s clear and engaging approach to financial education, with the goal of making that knowledge more accessible in a hands-free, audio format. This is not an official production of How Money Works, and it is not affiliated with or endorsed by the channel. All rights to the original video content remain with How Money Works. For any concerns, inquiries, or content-related requests, please feel free to reach out.

How Short Term Thinking WonFollow to learn How Money Works.Find How Money Works on YouTube: ⁠https://www.youtube.com/@HowMoneyWorks⁠Disclaimer: This podcast is an independently produced audio adaptation of content originally created by How Money Works. It was developed by a fan who values the channel’s clear and engaging approach to financial education, with the goal of making that knowledge more accessible in a hands-free, audio format. This is not an official production of How Money Works, and it is not affiliated with or endorsed by the channel. All rights to the original video content remain with How Money Works. For any concerns, inquiries, or content-related requests, please feel free to reach out.