Welcome to Tuesday, DawentsIT Readers! I’m your host, DawentsIT. Today we’re talking about a trend that, if you spend much time on social media, you’ve probably already noticed: A new era of get-rich-quick schemes has arrived.
On TikTok and YouTube, “passive income” side-hustles have skyrocketed in popularity. Influencers are promoting gigs that promise to help you make money while you sleep — but are much harder than creators are letting on.
Below, I’m giving you a look at the new guard of influencers who claim that “making $10,000+ a month is not that hard.”
Let’s Dive In:
1.Influencers are luring followers with deceptive promises of side-hustle riches. On TikTok and YouTube, influencers are getting rich while spreading dubious financial advice for how to make money fast — and failing to give viewers a full picture of the risks involved.
–These creators are touting eye-popping incomes of their own. On TikTok, one video with over 15 million views claims that “making $10,000+ a month is not that hard.”
–Followers can make hundreds — if not thousands — of dollars in passive income by renting out property, day-trading, or dropshipping, influencers say. But in most cases, the risks associated with the side-hustles they promote are hidden or barely referenced.
–Instead, creators sell courses that promise to teach people how earn money through passive income — helping them get rich while selling the dream of easy cash.
–These financial influencers are drawing in a lot of young people: A recent survey found that 34% of Gen Z consumers obtain financial advice from TikTok, while only 24% of this age group seek advice from financial advisors.
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