The Golden Age of the Middleman

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My Other Channels: @HowHistoryWorks @HowMoneyWorksUncut

Edited By: Svibe Multimedia Studio

Music Courtesy of: Epidemic Sound

Select Footage Courtesy of: Getty Images

All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind.

#business #finance #economy

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The art of good business is being a good middleman…

The biggest companies that you have never heard of make billions of dollars every year by inserting themselves as wholesalers, distributors, licensors or aggregators getting between you and the factories that make your stuff.

The only problem is… everybody kinda hates middlemen… which is why ENTIRE industries have been created from the ground up to “cut them out” by offering direct to consumer, peer to peer, direct selling, disruptive, streamlined, outlet, platformed solutions to make consuming… everything… an easier, faster and cheaper experience.

The only problem is… it never really works, and in our venture capital fueled rush to cut out the middleman, we have just created even bigger ones.

[Mecknificent]

Healthcare insurance... the biggest and, I would argue, WORST middleman.

[littlestewart]

This is absolutely true. Notice how all millionaires YouTubers making a scene about losing some money on Honey. While some of them worked with worse sponsors, but it wasn’t a big of a deal

[zachm]

Kudos to you to being honest about taking brand advertisers. Too many channels pretend like they’re doing insane due diligence, but at a quick glance no one knew what Honey was doing

[genelearnsenglish]

There's a firm in Australia which uses a legit motto of "Making housing more expensive since 2017".

[ryshow]

I appreciate your honesty about taking the sponsor if offered instead of just playing at being smarter than anyone and everyone else.

[Xanthelei]

Calling it "worker loyalty" when it's just modern day indentured servitude is a soft ball I don't think companies deserve. Especially since it's also companies that pour more money into keeping health care tied to jobs to force people to stay longer than they would otherwise instead of, y'know, using less of that money to fix the issues making people want to leave.

Nothing will change if we keep excusing bad business behavior. And I'm tired of the polite speak, I want someone to just be blunt for once.

Edit: The number of replies salty that I called it out at all lmao. Stop stanning for corporations, they don't care about you beyond how much money you can make them, once you are slightly less profitable than a new hire you're "encouraged" to "find a better fit elsewhere."

Edit 2: Love that my replies are being deleted.

[MrHeavy]

Lots of restaurants are offering cash discounts for customers paying in all cash, some places up to 4%. I definitely pay cash when discounts are offered.

[thefeeders]

A video about how consulting firms in tech industry operate and what makes it worth for their clients to pay them instead of hiring would be very interesting.

[SlapStyleAnims]

I love learning about economic problems while turning 22.😂

[alezacrespublik]

ONE MINUTE GANG! Thanks YT for being a middle man that immediately gives me videos as they go up!

[LeonardTavast]

I just learned that the rise of middlemen is a major reason why cocoa is so expensive. They speculate on the trade to earn money and in the process raise prices for chocolate manufacturers.

[deohenge]

I prefer to tip in cash, especially outside of restaurants. I don't know where the money from that "Add a tip?" button is going anymore, but I do know the $10 I put in a person's hand for working a thankless shift on a holiday in heavy snow will go in their pocket. Hopefully.

[factorfitness]

How Money Works has been the only YouTuber that's been honest about the Honey "scandal" that I've seen. There was little impact to the consumer and mostly only affiliates losing their chunk. The only real significant impact was Honey playing both sides and contracting with businesses to provide consumers with the discount that the business wants them to have.

[lazart]

It's surprising how under the radar book The Secret Doctrine of Wealth is. If you're curious, It is definitely worth a look.

[threetwoone]

8:36 Morning brew being our video’s middle man

[GolemDude]

I have been looking for an entry level IT job for a year now, I’ve applied to hundreds of jobs and no response, my certifications are about to expire, starting to think about immigrating to another country just to get a real f ing job other than at a grocery store

[tanchwa]

I work for one of these tech consulting firms and I have to say, most of our off shore tallent completely misses the mark when it comes to most daily tasks. We have an engineer who constantly puts in bugs, and a QC engineer who hardly knows what they’re doing and lets all the bugs though… at the rate that things change in the tech space we’re going to see issues sooner rather than later.

Pretty sure this has been one of the reasons consumer tech has been suffering recently, but it’s amazing how things stay together as well as they do.

[Signupking]

I learned at my wholesale job that most of our customers like to have 1 place where they can buy everything and many of our supplies also dont want to deal with thousands of customers on a daily basis.

[andrewstevens]

Wow you actually explained the H1B visa issue in a very clear and unbiased way that didn't mention politics at all. That deserves a like and subscribe.

[Dr_Larken]

12:51 i'm sure everyone knows this but Walmart... the cameras they have everywhere, the very moment your vehicle comes in the vicinity of one of those it starts tracking. It tracks whoever gets out of the car, your journey throughout the store, how long it takes, what aisles you spend time in, what you buy, if you have Wi-Fi and Bluetooth on now, they have an anonymous ID and other metrics to sync it with your data profile. Then when you cash out, they get a good look at your face, facial recognition, if they don't know who you are by then. The moment you swipe your debit or credit card. They now have your name address, Bank, and everything else! The amount of data collected just for you walking through Walmart is crazy! There's a lot more than I left out!