Day: June 11, 2018

F.T.W.S.I.J.D.G.I.G.T.

(For those who say I just don’t get it…get this!)

There have been very few in the media whether it’s business, financial, thought leadership, et cetera that have the ability to have their insights, of any type, aired across the media unless they are either 1) Contracted to submit a certain amount of content for publication. i.e. A weekly or daily column for example. Or 2) They pay via some prearranged agreement, whether it be direct payment, or some “exclusivity” styled arrangement where actual money doesn’t exchange, yet both benefit in other ways that is mutually understood between the parties.. i.e., Not paid, yet reciprocally helps either sell ads, tickets, magazines, clicks, whatever. This is the arrangement for most “celebrity” styled “insights” you’ll find across most media today.

There’s another way, although it is far harder with far less “celebrity” attached to it, but it is the “gold standard,” if you will. And that is when your insights are published around the world, on the largest media outlets – because they found you and thought it worthy on its own merits. This is a very select group of business people who can claim they are in this category, which I am fortunate to be one of.

If I may speak candidly: I’m probably one of the most widely published business experts most have never heard of. But I’m not concerned about a mass audience per se. The audience I care about are those that are looking truly looking for pragmatic insights they can use, which is you dear reader.

I’m not claiming I’m always correct, but what I am saying is that I’m also one of the very few that had the chutzpah to dare question, or call out, many of these famous names publicly and have those insights carried, again, across the largest media venues globally.

Not in a disrespectful way, but in a questioning way that held business pragmatic or insight at the forefront. Politics, ad hominem, or any other type of scathing rebuke has never been my style, nor should it be. But calling a-spade-a-spade is what is needed more than ever in business today – not more hype for what’s “hot.”

So, with the above said and in concert with the horse Justify winning the Belmont, therefore winning the Triple Crown, I would like to offer up three calls that I made, which at the time, were received with complete derision and more across many media outlets. However, now in retrospect, one can see a bit more clearly.

Race 1) Social Media:

I stated from the beginning that the only ones making money on social media were those (i.e., Guru’s) telling/selling you that you needed it. As of today everything you spent and learned trying to develop your social media presence is either no longer relevant or useful, meaning – it’s all been a complete sinkhole of wasted expenses and wasted time you may never (more probably never) recoup.

This statement has moved from the hypothetical category of argument of where it began a few years ago, to an argument of fact with the revelations that have been coming forth at a dizzying pace. The “buzzword” now being bandied across boardrooms everywhere when someone brings up the question of “What should we do next concerning our current social media presence and/or strategy?” Hint: “Delete it.”

If you want to make money in this post social everything environment, I’ll give one idea that could be worth $Millions, at no charge. Here it is:

Start selling ways for companies to feel confident they can/should cancel or negate their current social media expenditures and get back to making sales the old-fashioned way by making one customer happy so that they tell a friend. Do that one thing – and the world is your oyster.

And just a reminder – I’ve never used social, of any type. since the beginning, which makes my arguments that more pointed.

Race 2) Daring to call out some of my own contemporaries in the motivation space. e.g., Tony Robbins, Suze Orman, et al.

When I first addressed my concerns for what I was hearing when it came to the new “financial” or “real estate” insights that were being bandied across not only many a mainstream business/financial outlet, but also from stages across the U.S. and Canada I made my thoughts about it very clear. I thought what was being professed would turn out to be more detrimental to those following it than it would be beneficial. Again, this was met with derision. Then the results began to bear fruit – and it seems it’s all been rotting.

As of this writing home prices in Toronto alone, with Chicago being much the same, if not worse (for those not familiar here’s a link to help explain) have plunged 22% compared to one year ago. Some as high as 30% according to the Toronto Real Estate Board.

Here’s a bit of what I said in that prior article, you know, when everything was just “red-hot” and all the “Guru’s” were now touting it. To wit:

“However, since I’m also in the business/motivation business let me offer you up this little tidbit of caution if you’re planning on attending one of these so-called “wealth” seminars. And it’s this…

As you jump, cheer, and shout as Tony or any other speaker there screams from the stage for you to shout in unison, or to the person directly adjacent to you, “I own you!” as some mantra for you to remember as to help solidify your reasoning, and wherewithal as to commit to your decision-making process. Let me add this one note of caution…

That is precisely what the banks, mortgage holders, credit card companies, city, and county real estate tax authorities, IRS, bankruptcy courts, lawyers, and more will be shouting at you if there’s even a hiccup in this current BTFD “market” stampede.”

How many are still jumping and cheering in a 30% down market since? Maybe they are, but I’ll wager if there’s any “hopping” today it’s more akin to hopping-mad. But I digress.

Race 3) Bitcoin™ millionaire retirement advice Guru’s:

The “crypto” space acted much like the “social” space when it came to immediate condemnation of anyone daring to question its narrative. And yet, that’s precisely what I did, and that’s exactly what transpired – complete and utter derision.

It wasn’t just me this time, others such as Nouriel Roubini, David Stockman, Jim Rickards, and a few others dared to state what we felt was the obvious. And we all paid the price. The incessant condemnation by the “true believers” or “HODL’s” shall we say, has been surreal too say the least.

So how has it all been working out for the “so-called” crypto guru’s we should ask. After-all, with all the “insight” and “expert” advice they were telling/selling the return on investment has to be at least better than Toronto housing should it not?

Hint: Here’s as they say in “The Valley” a “picture” that tells its own storyline. Again, to wit:

(Source)

But not too worry! For as I used to say half-jokingly that the next thing many of these “Gurus” will be selling next for an encore will be seminars to help with bankruptcy filings. And since you were a one “premium seated” attendee you’ll probably get a discount for admission.

Again, that was what I used to say jokingly, but truth is far stranger than fiction, and sometimes funnier. Why do I say this? Easy, for do yo remeber when this “advice” was in your news-feed or any other feed for that matter, incessantly? Here’s a reminder. To wit:

(Non-working advertisement screenshot)

So, you want to feel better about your crypto losses, or maybe forget about them all together? He’s now got a product for you to do just that. Again, to wit:

(Non-working advertisement screenshot)

All I’ll do is end with this, for you can’t make this stuff up – it writes itself…

The above gives new meaning to all that “millionaire retirement advice” going “up-in-smoke” does it not?

© 2018 Mark St.Cyr

Footnote: These “FTWSIJDGIGT” articles came into being when many of the topics I had opined on over the years were being openly criticized for “having no clue”. Yet, over the years these insights came back around showing maybe I knew a little bit more than some were giving me credit for. It was my way of tongue-in-cheek as to not use the old “I told you so” analogy. I’m saying this purely for the benefit of those who may be new or reading here for the first time (and there are a great many of you and thank you too all). I never wanted or want to seem like I’m doing the “Nah, nah, nah, nah, nah” type of response to my detractors. I’d rather let the chips fall – good or bad – and let readers decide the credibility of either side. Occasionally however, there are, and have been times they do need to be pointed out which is why these now have taken on a life of their own. (i.e., something of significance per se that may have a direct impact on one’s business etc., etc.) And readers, colleagues, and others have requested their continuance.