There was once a man called Clark Stanley. He travelled the length and breadth of the United States of America to sell his product. The product was oil made from rattle snakes. At least, this is what he claimed. Large crowds would flock to this man’s presentations, usually given at local medical showings. He claimed that his product, based on the Chinese water snake oil (words that sound exactly as shady as they are), could cure all sorts of ailments known to man. You name it, and it can be cured. All by using this, um, snake oil.
Sometimes I wonder – will future generations look back at us and marvel at all the dumb shit we fell for? Will they laugh when they discuss our almost unshakable faith in the many healing qualities of scented candles? Or will they be shocked at how ‘Goop’ was a real company selling the products it sells to actual people (I’m still shocked, and I belong to this generation). But anyway, back to our snake man Stanley.
He carried on quite a successful business selling his snake oil to anyone and everyone. After some time, someone had the bright idea to examine the claim. They found out that not only does the snake oil not cure any illnesses (shocker I know), it also isn’t snake oil. Yup, it was just regular oil. I mean, I’m honestly not even mad at the man. If he could pull this off, then good for him. As far as I’m concerned, he earned that money, for entertainment value if not medicinal value.
Since then, the term ‘snake oil salesman’ has been used in pop culture to refer to, well, frauds. These are the people who go around advertising their ‘cures’ to the weak. There are many kind of frauds out there to be sure. But the ones who use this method of operation, the ones who prey on people who are at their most vulnerable to sell them basically nothing, are the ones deserving of this title.
A great place to find such snake oil salesmen (let us call them SOS) is the internet. You can get them for almost anything you want, in almost any field you might ever be interested in. You can find these people peddling their goods in the areas of learning how to start a business, or learning how to blog, or learning how to grow on YouTube, or learning how to get rid of acne. But I believe that the most vicious ones are to be found in the niche of ‘How to get Rich Quick’.
The thing all of these Get Rich Quick scheme people have in common is that they sell a particular kind of fantasy. One where (1) you can become immensely wealthy; (2) you can become immensely wealthy in a short period of time; and (3) it does not matter who you are (“anyone with a lick of sense can do it” as they like to say). They all have a system for it. And the only way you can do it is if you follow this system, and you follow it religiously.
I see so many of these millionaires all over YouTube. The gurus that drive fancy cars, big houses, have girls all around them (which by the way, I take exception to, because they always show girls as some sort of commodity that ups your social value in the same way cars and houses do) and seem to have done all of this seemingly effortlessly.
I’ve been down the rabbit hole with these gurus. Many of them, many times. And, I think you can already tell what my opinion on this is, but let me spell it out for you anyway.
First of all, anyone can fall for this trash. It does not matter how smart or well-educated you are. The trick with these SOS is that they catch you at a vulnerable time in your life. The first time I started following one of them was when I had recently quit my job. These were the weeks in which I went through life with a smug sense of superiority – thinking I had cracked the matrix. I was out of my 9-5 corporate job and I was going to do what I loved to do and automatically become a quite rich while doing it. Seems pretty straight forward does it not. I was all set to be the dream. And what I needed was someone to guide me and help me navigate the world of personal finance. You know, one of those people that teach you ‘how to become a millionaire doing what you love’, or ‘how to generate 6 streams of passive income’, or ‘how to make money work for you’. You get the idea. It was scary to be out in the world alone without a monthly salary keeping my ego afloat, and so I turned to these SOS. As quickly as I fell into this, I started to realise something. Which brings me to my second point.
They have nothing new to offer. One could argue they have nothing to offer at all. But I don’t think that is true. If you listen to them with the intention of having some positive thoughts screamed at you by some middle aged man who clearly pumps himself full of steroids to avoid dealing with his emotions, then yes. That need gets fulfilled. What they don’t offer you is any value beyond this. They always say the same things, and they always say things you already know. I heard at least 6 different men tell me that to be rich I have to generate multiple streams of income. Ok, yes, agreed. But I already knew that. I didn’t find out anything new. And I certainly did not find out how to make money quickly did I? Generating multiple streams of income is good advice, but it takes years of insane hard work and some very smart investing to get to this point.
And these are the nicer SOS I’m talking about. Don’t even get me started on the people who tell you to sign up for ‘exclusive’ courses to learn all of their ‘tricks’. The only thing exclusive about that course is the money that exclusively flows out of your pocket.
I followed a few of these gurus for some time, and then I got tired of having the same thing screamed at me. Luckily, I didn’t end up spending too much time on it. I mean, I might have signed up for a few online ‘take quizzes and make money’ schemes but I didn’t do much more than that. But from what I know, it can get a lot worse.
Alright, I think I am done with my rant for today. I’m going to go back and try and finish packing for my trip. I will talk to all of you tomorrow.