Comments by "Magic Beans" (@Magic_beans_) on "Is This A Golden Age of Fraud?" video.

  1. ⁠​⁠ @saeedhossain6099 Rich Dad, Poor Dad literally recommends insider trading. He says to ask rich friends for stock tips based on non-public information because “That’s what friends are for.”
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  2. They don’t even need to be limited to their own money. ARK Investments charges 0.75% of assets per year, so for every billion dollars they can get people to invest they collect $7,500,000 in fees. If an investment manager can demonstrate better than average performance for even a short while, like ARK did in 2020-2021, investors will flock to them and their cut will multiply. Why are they instead selling YouTube courses for $500 each? (Their answer is usually something about standing up for the little guy, but if they cared about that they’d charge a percentage too, so any rich people who want in have to pay more.)
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