If you had spent considerable time on the internet, you would have encountered ‘finance influencers’.
In my opinion, many have no substance behind their content.
Instead, they churn out ‘quick tips’ that aim to captivate the uneducated audience. Many of these ‘tips’ appeal to people who wants to get rich quick.
From TikTok to Youtube, these influencers are in the business of entertainment. Therefore, their content is made to please the eyes of a specific group of people. That is their motivation.
They do not provide financial education. Instead, they aim to entertain you with their ‘new ideas’.
If you are at least a bit educated in personal finance, you would know that many of the suggested tips are ineffective and sometimes borderline Ponzi.
Let me give you one example.
In the past few years, there has been a rise in interest in dropshipping.
Don’t get me wrong; dropshipping is a great way to earn money through arbitrage. However, many of these influencers did not reveal the whole truth about the industry.
Firstly, the industry is oversaturated. Therefore, putting your foot in the door is going to be tough.
Secondly, the entire industry builds upon the exploitation of cheap products from China that comes from sweatshops (most of the time). As a result, employees are underpaid, and products are usually low quality.
But do these influencers show you this side of the industry?
Of course not.
They ‘share’ the information with you so that they…
