People Are Becoming Millionaires During This Economic Collapse…Here’s HowApr 04, 2020
collapse, we have seen
peoplelose their businesses, their jobs, and even their life savings. In fact, since the crash began just a few weeks ago, Google searches for jobless claims are up about 4,700 percent, up from 6 last week alone. point six, five million
peoplein the United States filed for unemployment, that's about two percent of the total population of the United States that filed for unemployment in a week, and to put it in perspective, only about one hundred and fifty- five million people are in the workforce in the United States. The states mean that just last week the unemployment rate will increase by about 4.2 percent, which means that we have probably already surpassed the unemployment levels of the worst parts of the 2008 financial crisis, however, despite out of all
herehave been some people who have been able to take advantage of this situation in fact many
millionairesbillionaires and even billi It is possible that dreams are being created in front of our very eyes so who are these people and could they do something right now to help jumpstart your financial future?
Well, let's start by asking why some companies experience a boom during a crisis. An example of this is actually McDonald's during the 2008 financial crisis, you see it during those years of 2008 and 2009 when businesses were collapsing, unemployment was approaching 10%, and millions of people were losing their jobs. McDonald's actually saw an increase in revenue and profit of about four point five percent per year, so why did this happen? Think about it when millions of people see their incomes slashed, looking for ways to cut costs to survive, one of which is food and in 2008 McDonald's had a pretty long list of items. on their dollar menu which means that in many cases it was cheaper for the family to go buy food from McDonald's for a few dollars than to buy fresh food at a ry store grocery store and this is just one example of a business who was in the right place at the right time who took advantage of a recession today is a completely different economy than it was 12 years ago in 2008 only about 22% of the world was regularly on the internet meanwhile about 60% of people in the world today are regularly on the internet and this giant shift towards the internet has led to an explosion of online industries like e-commerce and social media and that brings us to the first business that has been booming recently and that's the business of online content creators due to global lockdowns more people are being forced to stay home and try to entertain themselves so many of these are People turn to platforms like Netflix, Disney Plus, YouTube and others. streaming services to kill time and the results so far have been staggering â€“ a recent Nielsen report showed that streaming on these platforms has skyrocketed by over 22% since the blocks were put in place and thatâ€™s one of the reasons why that content creators like myself and many other influencers have seen a substantial increase in subscriber audience and revenue during this time compared to many other businesses who are seeing declines across the board.
More Interesting Facts About,
people are becoming millionaires during this economic collapse here s how...
In fact, t
hereare a few genres. of online content creation that are seeing a 50%, 100% or even up to 500% increase in revenue since the lockdowns and YouTube has said that those videos are the ones that usually come in the meditation genres on the home, cooking, home exercises and DIY videos. so this is largely content related to things people can do at home and depending on the Creator this could mean anything from an extra few hundred dollars a month to tens of thousands of dollars in extra revenue per month and Of all the industries I have mentioned in this video I can guarantee you that this crisis will create more wealth in the social media space than most. other industries and the crazy thing is there has been such an influx of online audience that the biggest online video companies like Amazon YouTube Netflix and Disney have agreed to lower bit rates on their platforms to make sure their websites and apps don't slow down or now another industry that has seen a massive boom in recent weeks is the gaming industry similar to my online video content is taking off people are much more at home now looking for ways to be entertained so what better to do that than to immerse yourself in a video game Recently, Verizon CEO Hans Vest Berg made a statement saying that gaming traffic on Verizon's network has increased by approximately 75 percent in the last three weeks, per what only in the last three weeks this crisis has been without help. it launched the careers of many smaller indie game studios and we've seen it on places like Steam Steam, which is arguably the largest video game marketplace on the internet. dropped their single-day user record twice in the last three weeks alone before the pandemic team's all-time user record was 18 point 8 million users, then on March 15 they set a new record from 20 point 3 million users and recently broke 23 point 8 million users, so right now there are millions more gamers in this single market who are buying and downloading more games than just four weeks ago.
This rise in popularity of video games has caused other companies to jump on the wave of esports and gaming as well during this crisis, for example, ESPN recently made a massive shift towards streaming esports content, for For example, they announced that they will begin broadcasting a live broadcast where NBA players will compete in a live NBA 2k 20 tournament where the grand prize will be 100 thousand dollars and this will not air on ESPN six or seven this will be at air on ESPN and espn2 in primetime 7:00 p.m. space that is usually reserved for the biggest sporting event of the night what a crazy time we are living right now as you may have heard from my previous videos one of the industries hardest hit by this crisis has been the restaurant industry this is due to the fact that although many restaurants still remain open, they can no longer allow people to sit in their restaurant because it is considered too large a public gathering, so many restaurants have had to adapt to this crisis by using of a delivery service and this is a smart idea because just by looking at Google Trends you can see that the term delivery has experienced an unprecedented rise in recent weeks while the term restaurant has experienced a massive
collapse; in fact, the delivery business has seen such a surge that delivery companies are among the only companies in the world looking to hire more employees right now and to expand some examples of this are instacart, which is looking to hire 300,000 drivers in the next three m.
This month there are also pizza companies like Pizza Hut and Papa John's looking to hire tens of thousands of delivery guys, and of course there's Amazon looking to hire 100,000 warehouse workers and drivers in the coming months as I researched for In this video, I was reviewing what these industries, like social network gaming and delivery, have in common, one of which is that these are, by chance, the industries that I've been heavily involved in over the last four years, as many of you longtime subscribers can I've realized that luckily times have been pretty good for me recently, which is an odd feeling considering I personally know a lot of people who are struggling right now, but another thing is that all these industries are internet-based industries that have been growing at a rate of at least 25 percent per year for the last decade to even before this pandemic started and that's why what I think this crisis is really doing is speeding up making Amazon efficient in the economy what I mean by that is even when life goes back to normal, there will likely still be a large part of the population that will never return to retail stores, from now on they will only order delivery. and we will see more video content online and play more video games than before and what this means is that many brick-and-mortar business owners will unfortunately suffer greatly even after the lockdowns are lifted, but it also provides an opportunity for many would-be business owners business to start making money in the new economy there are currently over 20,000 third party sellers making over $1 million per year on amazon alone right now many new third party sellers are joining that 1 million revenue mark dollars thanks to the surge in online shopping due to the pandemic and I'm not talking about the vendors jacking up prices and selling $100 a bottle hand sanitizer, I'm talking about the ones selling DIY tools or bidets or books electronics or some other item that people want to order online during lockdowns, but there is a more common way that it is created They will be
millionairesfrom this pandemic.
You see another demographic of people who could build an empire out of this crisis are those who have a little cash in the bank and are willing to go big during the 2008 crash during the bottom of the financial crisis if If you invested $10,000 in a generic ETF, over the next 10 years you would have seen your investment multiply by about four times its original value through the start of 2020, meaning your $10,000 investment would have been worth about $40,000 if you held that investment for only 12 years now imagine if you invested something much larger like $100,000 which potentially would have turned into $400,000 and it has earned you an average of $25,000 per year from this investment alone and yes I understand most people don't have $100,000 to invest at this time.
However, I get it. er there are some upper middle class Millennials who have been saving for years and could start investing in the stock market during this crisis right now and I'm not saying now is the right time to invest in the stock market you guys You have to decide, but what I'm saying is that during times of crisis, those who have a little money saved up suddenly have a golden opportunity to invest their money at a massive discount, so they are likely to make a significant profit. return on investment that could take them from the middle class to the millionaire class over the next decade or two and the stock market is not the only place where millionaire investors will make themselves seen with tens of millions of people losing their jobs, many of them are unfortunately also homeowners some of whom will no longer be able to pay their mortgage because they no longer have a significant source of income and we are already seeing evidence of this as some lenders have reported ted six to seven times their normal volume of customer service calls at some mortgage companies like caliber Home Loans are bracing for a foreclosure crisis that could be 40 to 50 percent worse than the 2008 crisis and keep in mind that the median home price declined in 20% during the financial crisis with many areas seeing 30 to 40 percent declines in value, especially places with many e foreclosures, so some people at the time with cash set aside, a down payment, and a relatively stable income were able to buy real estate at an extreme discount and a lot of these people were just buying properties to live in that they just happened to be living in. ended up
becominga good investment for them because home prices have risen about 55 percent since the 2008 crash and some places like my hometown of Oakville, Ontario have seen home values â€‹â€‹increase by more than 100 percent over the last 12 years, which means that just buying a home in the right place and in the right time during a crisis can accidentally take you from a middle-class wealth level to a millionaire wealth level, but many people also start building a real estate empire which causes the financial crisis of 2008 because many aspire These investors could suddenly qualify to buy their first rental property due to the massive reduction in prices and interest rates and there have been a litany of stories about people
becomingreal estate moguls due to the crash of 2008, all you really have to do is go to some real estate forums or listen to podcasts like the BiggerPockets podcast to hear how many people became millionaires or even billionaires because of the 2008 crisis, so I've covered many of the industries key thatwill end up making some people billionaires or maybe even billionaires now i would like to ask you what are your financial plans for this crisis and what do you think is going to happen to certain industries during this time let me know in the comments below we also get to one hundred and fifty thousand subscribers so I would like to thank each and every one of you and if you liked this video please leave a like and check out my documentary playlist if you want. check out more videos like this so be sure to click on that playlist and i'll check them out in a few seconds
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