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Let’s jump in…
Last week we explored the pros and cons of financial institutions buying single-family housing.
If you missed out on that newsletter do not worry just make sure to visit the Mid Market Insider homepage and catch up!
This week I want to dive into the internet guru epidemic and how it’s negatively impacting the world.
If you want to check out my YouTube video on this then click here.
Now I got that out of the way let's move forward.
They say those who can’t do, teach.
This is especially true for Internet gurus.
Internet gurus are a plague on every social media/content platform available all spouting the same nonsense on:
- How to get rich quick
- How to build a business in x days
- The key to making $10,000 a month
Which in theory sounds great. Who wouldn’t want to learn the key to making $10,000 a month?
Heck, I do. But in reality, none of it exists and these gurus have built nothing, except for an effective marketing machine.
Now I am going to offer some advice that may seem a bit extreme, but I feel compelled to share it.
Don’t believe everything you see on the internet.
Of course, you already know this but the extent to which misinformation thrives on the internet is growing unabatedly.
In this chaotic digital landscape, it's no surprise that a new breed of self-proclaimed experts has emerged.
There are two types of gurus within this industry:
1. No actual business success: these people sell courses etc.
2. Achieved actual success: they share info that helped them to make money
Both of these internet gurus are known for:
- Having an easy and repeatable way to make money that anyone can follow and do to be successful.
It’s pretty easy to call yourself a guru.
Just:
- Pay for models to walk around
- Rent a mansion and some sports cars
- Record some videos in your “home office”
And there you have it, the recipe for people believing you are successful.
The best part about being an internet guru?
There is a low barrier to entry. You can just shoot a video. Now there are 3 reasons why internet gurus are so effective:
1. Authority bias
2. Availability heuristic
3. Self-presentation bias
These gurus are exploiting people’s insecurities.
From:
- Desperation
- People without college degrees
- 9-5 is modern slavery (which I find somewhat offensive actually)
The field is flooded with skilled marketers who promise incredible results despite having zero experience.
Let's take a look at an infamous guru.
Tai Lopez
Tai Lopez is infamous within this community.
He debuted his iconic ‘Here in My Garage’ YouTube ad on September 3rd 2015 claiming to have achieved wealth through knowledge.
He sells ‘hopium’ through online courses which promise personal development and other programs focused on business, social media marketing, etc.
He continues to peddle his flashy lifestyle all over social media.
However, he is full of shit (pardon my French).
1. Overexaggeration:
Tai’s claims of success and wealth are exaggerated and unverifiable. There is basically no evidence that suggests the truth of any of his success.
2. Pay to Play Model:
His courses are overpriced and full of generic and recycled advice that can be found for free on any motivational page.
He also preys on the desperate constantly pushing and upselling expensive programs that the readers need to buy to get to that next level.
He has gamified the experience.
3. Reputation:
Established entrepreneurs and financial experts have exposed Lopez to predatory practices and exploitation.
Now look, there are some genuine creators out there who offer high-quality and educational content that can actually impact your life in a positive way.
But it’s also filled with skilled marketers who sell you dreams. Here are several red flags to look out for:
1. Displaying lavish wealth
2. Reliance on selling expensive courses
3. Exaggerated claims with minimal evidence
4. Misleading rags-to-riches narratives with zero details
At the end of the day if it’s too good to be true then it usually is.
Success doesn’t come from getting rich-quick schemes.
Instead, it comes from:
- Hard work
- Genuine expertise
- Continuous learning
Don’t seek wisdom from Instagram profiles.
📅 Next Week:
In next week's newsletter, I will do a deep dive on how to value your business.
Keep building,
Nick
P.S.
If you want to hear more from ‘The Most Boring Guy In Private Equity’, follow me on LinkedIn and YouTube. I dive into the world of private equity, share some tips and tricks for small business owners, and most importantly, share my industry knowledge.
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