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Rich Kids Go Shopping [Video]

Anything related to matters of the mind

1step

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To each their own but I don't see this as motivational... Admittedly I couldn't watch more than a few minutes of it so I would love to hear how it motivated you
 
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ApparentHorizon

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To each their own but I don't see this as motivational... Admittedly I couldn't watch more than a few minutes of it so I would love to hear how it motivated you

Got 1 min in...

It would be more interesting to hear about their come up rather than their spending habits.

Stuff like this is actually demotivating:

These things called "mirror neurons" in your brain make you feel the same way these as these kids. So your brain feels like you've already made it, when in fact you need a swift kick in the butt.
 

MitchC

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Got 1 min in...

It would be more interesting to hear about their come up rather than their spending habits.

Stuff like this is actually demotivating:

These things called "mirror neurons" in your brain make you feel the same way these as these kids. So your brain feels like you've already made it, when in fact you need a swift kick in the butt.

The people are:

-Youtube star
-Clothing brand owner - made himself 1 jersey, people asked them to make them one when he wore it to school, he put on Facebook, now he has stores with lines out the door
-Stock trader
-Hustler that owns a caravan home park and flips things like companies that went bankrupt's stock
 
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TonyStark

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Got 1 min in...

It would be more interesting to hear about their come up rather than their spending habits.

Stuff like this is actually demotivating:

These things called "mirror neurons" in your brain make you feel the same way these as these kids. So your brain feels like you've already made it, when in fact you need a swift kick in the butt.
@1step
If you'd watched it, they talk about how they got to where they are, and how hard they worked to get there.
 

ApparentHorizon

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@1step
If you'd watched it, they talk about how they got to where they are, and how hard they worked to get there.

I'll give it a shot while getting some stuff done.

If there's actual material to learn from, maybe shift the premise of the thread or add some cliff notes about the lessons you learned.
 

Hristo

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This should be called "moderately well off kids making mistakes with money."

Still motivating if you look at it from the right perspective.
I think that caravan dude was the only one I liked. He did what he dreamed about. Owned his own caravan park (Weird dream, but who am I to judge) and drove the cars he loved.

That's what he wanted to do. And so he did it.
 

AgainstAllOdds

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This video is terrible for "motivation", and I'll explain why:

1. It completely ignores the process.
  • The entire focus of the video is how these kids spend their money, not how they earned it.
  • The trader kid brags that he only does 1 hour of work now. That's fine, but what happens when a black swan event destroys his entire livelihood?
  • The only kid to embrace process is the kid with the trailer park, who takes the camera crew to his trailer park first, and then his warehouse to show off the products he's buying.
2. Most of these kids are not successful.
  • Take the youtube kid for example. Here's his youtube page: https://www.youtube.com/user/xJamie1x/about. He has 9 million views, which at $8 cpm in ad revenue, comes out to $72,000. He stated his clothing accounts for the other half of his income, so he has made about $150,000 to date. That's not impressive. That's a job. His big splurge is a 1,800 pound ring. That's $2,352. If you're in a first world country and can't save up for a $2,352 engagement ring, then you're doing something wrong.
  • The clothing company kid has 2 successful stores. I'll give him that. And the trailer park kid seems to have his head on right.
  • The trader kid is a scammer. In the video it's even apparent that he doesn't know what he's doing:
"Elijah Oyefeso is a fake and a scammer. Unfortunate that Channel 4 gave him this uncritical platform to rope in more victims.

He's not really rich as he says he is, he doesn't "trade" to make money, he lures people in to sign up to fraudulent binary options (which he then gets a cut for referral) programmes and pay to receive his tips. Usual get rich story. *edit: I meant get rich quick story.

He's not as rich as he pretends, the lambo and bentley are just his way of luring more victims in, he's been outed by a few people and would be obvious to anyone who looked into it - the C4 programme makers obviously didnt!

http://forum.binaryoptions.net/discussion/2511/elijah-oyefeso-scam-warning

http://www.binaryoptions.net/blog/who-is-elijah-oyefeso-and-what-is-the-deal/

https://breakingfad.co.uk/tag/scam/

http://forum.binaryoptions.net/discussion/1923/interactive-option "

3. If they're not broke yet, then the likelihood of them being broke is very high. They all have terrible lifestyles including:
  • Having leaches around. Every single person they showed, with the exception of the trailer park kid, had some sort of leach stuck to him. The trader (scammer) had an entire entourage around him. The youtube kid had a homeless boyfriend. The fashion kid had "a best friend" who basically told the camera "I'm his best friend. He considers me a brother." As in he was speaking on behalf of the kid.
  • Most of them are more interested in attention than wealth.
  • They have zero clue of the economics of their businesses or contingency plans if things don't go as they've been going. The most successful kid (clothing shop owner), didn't even know he was a millionaire until his accountant told him. When he's asked what happens if no one buys in his pop up shop, he just throws a hissy fit and says that they have to.
  • They spend money on stupid shit. Clothing kid buys 15 pairs of sneakers a month ... The trader kid crashed one luxury car into another that he owned. I don't know how you can accomplish that, but he figured it out. Youtube kid has no money to begin with, but spends it all on his leach. Trailer park kid has multiples cars just because he wants to have them (though I believe the kid has his head on right and can float his car expense).

Overall, you have a documentary with kids that just want attention, one of which is a scammer, and the others that have terrible lifestyles and decision making abilities.

These are not kids that you want to learn from. The kids you want to learn from are the ones that are casually spending their money off camera, and growing their business instead of getting complacent with the one hit that they managed to pull off.
 

The-J

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Adding to what @AgainstAllOdds said, I watched an ESPN 30 for 30 documentary called "Broke". They interviewed sports stars with multimillion dollar contracts who had gone broke. They went broke for all the reasons above.

Just cuz you can make a lot of money doesn't mean you're immune to the laws of financial literacy, nor are you immune to the leeches and grubs.

Some of you guys might be motivated by that ability to just spend callously, and well, different strokes for different folks.

It's money porn, not motivational material.
 
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AllenCrawley

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huven

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They motivate me. I think they have their own strategies on how to make money and keep it flowing their way. It's their life on how they spend their earnings. I can't judge them for their wealth.
 

Drew D

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This video is terrible for "motivation", and I'll explain why:

1. It completely ignores the process.
  • The entire focus of the video is how these kids spend their money, not how they earned it.
  • The trader kid brags that he only does 1 hour of work now. That's fine, but what happens when a black swan event destroys his entire livelihood?
  • The only kid to embrace process is the kid with the trailer park, who takes the camera crew to his trailer park first, and then his warehouse to show off the products he's buying.
2. Most of these kids are not successful.
  • Take the youtube kid for example. Here's his youtube page: Jamie Pine. He has 9 million views, which at $8 cpm in ad revenue, comes out to $72,000. He stated his clothing accounts for the other half of his income, so he has made about $150,000 to date. That's not impressive. That's a job. His big splurge is a 1,800 pound ring. That's $2,352. If you're in a first world country and can't save up for a $2,352 engagement ring, then you're doing something wrong.
  • The clothing company kid has 2 successful stores. I'll give him that. And the trailer park kid seems to have his head on right.
  • The trader kid is a scammer. In the video it's even apparent that he doesn't know what he's doing:
"Elijah Oyefeso is a fake and a scammer. Unfortunate that Channel 4 gave him this uncritical platform to rope in more victims.

He's not really rich as he says he is, he doesn't "trade" to make money, he lures people in to sign up to fraudulent binary options (which he then gets a cut for referral) programmes and pay to receive his tips. Usual get rich story. *edit: I meant get rich quick story.

He's not as rich as he pretends, the lambo and bentley are just his way of luring more victims in, he's been outed by a few people and would be obvious to anyone who looked into it - the C4 programme makers obviously didnt!

http://forum.binaryoptions.net/discussion/2511/elijah-oyefeso-scam-warning

http://www.binaryoptions.net/blog/who-is-elijah-oyefeso-and-what-is-the-deal/

https://breakingfad.co.uk/tag/scam/

Interactive Option "

3. If they're not broke yet, then the likelihood of them being broke is very high. They all have terrible lifestyles including:
  • Having leaches around. Every single person they showed, with the exception of the trailer park kid, had some sort of leach stuck to him. The trader (scammer) had an entire entourage around him. The youtube kid had a homeless boyfriend. The fashion kid had "a best friend" who basically told the camera "I'm his best friend. He considers me a brother." As in he was speaking on behalf of the kid.
  • Most of them are more interested in attention than wealth.
  • They have zero clue of the economics of their businesses or contingency plans if things don't go as they've been going. The most successful kid (clothing shop owner), didn't even know he was a millionaire until his accountant told him. When he's asked what happens if no one buys in his pop up shop, he just throws a hissy fit and says that they have to.
  • They spend money on stupid shit. Clothing kid buys 15 pairs of sneakers a month ... The trader kid crashed one luxury car into another that he owned. I don't know how you can accomplish that, but he figured it out. Youtube kid has no money to begin with, but spends it all on his leach. Trailer park kid has multiples cars just because he wants to have them (though I believe the kid has his head on right and can float his car expense).

Overall, you have a documentary with kids that just want attention, one of which is a scammer, and the others that have terrible lifestyles and decision making abilities.

These are not kids that you want to learn from. The kids you want to learn from are the ones that are casually spending their money off camera, and growing their business instead of getting complacent with the one hit that they managed to pull off.
Not hating on the people in the video because I don't care what others have, and good for them, but there are non millionaires on this forum considered more successful than these millionaires, imo.

Also why are all these young people (teens and young adults) lying saying they became a millionaire primarily trading. Where would they get the money to make that much trading? I skipped through the video because quite frankly I don't really care about it about it but if they were poor before all this, then I doubt he traded his way to riches. Not that quickly.
 
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