How Rich Dad, Poor Dad Became The Ultimate MLM
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We're excited to bring you a very special 4-part series to close out 2024! This is part 2 of Chelsea's discussion of Rich Dad, Poor Dad with our friends from @celebritymemoirbookclub!
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Man, learning about the content of this book has brought so much into focus about ppl who talk about it like it’s gospel
So incredibly true. Someone close to me is like this and this mindset has only led to them making what I would consider poor decisions in business development and investing. 🤦🏼♀️
I was young and dumb. Went to one of his “free” shows. I spent over $200 on his books there. Still regret it to this day
I read it when I was 12. I thought it was problematic then. But It’s hard to find books that explain “what the rich do” at a 3rd grade reading level.
The UK version is basically Harry Potter. Posh boarding schools, magicking up unlimited food, huge sports stadiums on school grounds. (jk I totally get what you’re saying) (urgh JK)
The $45k class price sounds like an intelligence filter.
People who are smart enough to know their $45,000 is best invested elsewhere will nope-out when they see that price tag.
That way, he’s left with people who are either stupid or desperate enough to give him all their money.
When they realize the class is worthless, and they’ve wasted a massive amount of money, and “sunk cost fallacy” themselves into thinking they need to give him more money.
Yes, just sinking $45,000 into say, the NASDAQ is a much better idea.
Intelligence and wisdom or savvy are not necessarily the same thing. I know someone who is above average in intelligence (as it is measured) but they are book smart, not “life smart”. They fall for many emotional manipulation scams
Can you please make a video on self help books written by Mormon priests? I just did a quick search and noticed that there’s a shocking number of bestsellers and the writers are all Mormons. Plus those books never acknowledge systemic issues, and do a ton of victim-shaming.
MLMs and Mormonism go hand-in-hand. There’s a reason a bunch of them are based out of salt Lake city.
12:16 rich dad-poor dad, demonstrated, in an unvarnished manner, that America is a 3rd world culture with first a world economy.
“Being an employee is a scam” remains a greatest hit here on countless hustle culture ‘success’ channels.
I mean … even from an anti-capitalist perspective, it’s kinda true. Just not in the way econ dudebros think.
I once listened to an interview with the author and got extremely angry because of this message. Like, there are tons of jobs that just need doing. If everybody strived to become an investor or landlord or whatever he is suggesting, the economy would collapse. Doctors, teachers, garbage collectors, delivery workers, retail workers, etc. are needed. Investors are optional. The arrogance of people like him is a slap in the face of any hardworking employee. We should adjust wages so that work allows people to build good lives, rather than telling people to try to live off of their investments.
@ElliBeenie Exactly. This lie is hilariously ridiculous. You go to the store and there’s food on shelves that robots cannot (yet) do. Your car needs to be repaired and there’s someone to do that, who very well likely isn’t the owner of that business. The very clothes these people wear were made by a regular worker, the food they eat was made by workers on farms. As you said, if everyone owned their own business, the entire world would cease to exist, but the answer isn’t to look down on those people, but to recognize the important contributions they bring.
I’ve also had conversations with young people graduating high school deeply concerned that college is a scam but so is employment, and they should somehow try to be entrepreneurs at 18 otherwise they will be slaves to the matrix. It’s quite destructive.
Regardless of what economic/political system a nation has a large percentage of the population, say 80% has to work boring practical jobs.
Even if we all had PhDs from Cambridge, we’d still need people to manually fix cars, mow lawns, etc.
For a minute I thought, “People still listen to this forgotten clown from the ’90s?” And then I remember that this is the country that elected Trump twice.
Kiyoskai’s books have great sales numbers to this day. There are too many drifters who cite him as their role model or at least mention his book.
No we only elected him once, he’s a two time popular vote loser.
..this mentality helped get him elected, cuz according to the logic of this book… it’s “smart” not to pay taxes and exploit other people.
There’s an excellent episode of the If Books Could Kill podcast about RICH DAD, POOR DAD.
I think the heart of the issue, for me, as someone who was abandoned in their early teens and has spent my whole life getting bombarded with this crap by people who were born on second base thinking they hit a home run because they discovered the arcane secrets of house flipping, is that NONE of them are watching this. They’re not curious or open-minded or interested in whether the first thing they read on a subject is true.
I guess the question becomes, what books are good financial books?
None that don’t include math, or sound like a cfa wrote it. Anything else should be categorised as entrepreneurship mythology and ignored.
Ramit Sethi
I love this alternative view. Do Dave Ramsey next.
Definitely
What is the general feeling about Dave Ramsey over here? I find his advice to be extreme, but also feel like it would be perfectly good if it had a cup of tea and calmed down? Like, the fundamentals are correct, he’s just a bit hardline.
@@TheRobstargamesIME Ramsey is just really hardline on certain things that don’t necessarily work for everyone (or even *most* people in some cases e.g. using 15 year mortgages only).
@@amyholland6924 I can see that. Also, I should add that when I the fundamentals are correct, I mean his financial advice, not his politics…
Should a man be the head of finances in a household? Gender should never be the factor. My dad almost sunk the family in debt, and my mom saved everyone.
not an uncommon story
I like being an employee. 37bhours per week. Security. Benefits. Stress free weekends
„Choosing to be rich every day“ is such a Barney Stinson thing to say 😂
Right along the lines of „just stop being X and be AWESOME instead!“
Totally 💯!!!! 😂😂😂
Haha have you seen that ‘choose rich’ crypto guy (nick o’neill) around on social media? 😅 Like, wooooow… I just have to ‘choose rich’ and that will solve all my financial problems. Amaaaaazing insight **sarcasm lol**
A guy just recommended this to me lol, said no one has the “right mindset” when i said “no dude, I heard that book is bad.”
Watching y’all talk about this book has made me realize I am 100% content NOT playing the game if it means stepping on others to garner wealth.
when I wanted to start investing in my 20s, the internet recommended this book over and over again. I read it, and remember really enjoying it as a biting satire of capitalist politics. It’s basically a grimdark dystopia being told from the perspective of the villain. I had trouble believing anyone with half a brain could take him seriously. Then Trump became a prominent politician and it suddenly wasn’t so funny anymore.
They didn’t have time to cover it in their book review, but if you really want to be horrified you should read the throwaway chapter on charitable giving at the end of the book. It’s basically prosperity gospel without the words for it. Basically, in a nut shell, “poor people deserve their fate for being so bad at money. Rich people who exploit the poor get that way by giving more than they get. So if you think about it being a business owner is the ultimate form of charity.”
Literally got giddy when I saw this upload haha. You guys are just fantastic
As a spouse of a recent military retiree thank you for mentioning military spouses in your discussion of MLM targets. It’s really pervasive in that community. I also listen to Life After MLM podcast, so if you’re interested in diving into this topic more with someone who specializes and has personal experience with MLMs, I’d recommend having Roberta on your show to discuss.