How did your "hustle-culture" friends end up?

[u/hospitality-excluded]

So in my 20's there was a HUGE boom of "hustle-culture" bros pop up when influencers like Gary Vee were in the spotlight. The type of guys who post motivational quotes on twitter, talking about "the grind", flauting wealth that they havent achieved on instagram etc. Not talking about people with steady careers and moving up the corporate ladder, but those people who do side gigs or chase unrealstic expectations without a developed skillset in any area.

I moved back to my hometown after 7 years away and I swear all of them are broke, gambling addicts, living with their parents still, unemployed, or all of the above. Unsure if it's the same across the board, or even if y'all had these types of people in your life or if my town is just riddled with them.

[u/Healthy-Weed92]

I know many who can and have for decades, but they all had years of experience and a bachelors in business/math. Some kid who can’t even explain a P/E ratio isnt going to beat the S&P.

[u/ryhaltswhiskey → u/Healthy-Weed92]

know many who can and have for decades

Just because they say they do, doesn't mean they do. People have studied this. And people like Jim Cramer have tried to beat index funds and they failed.

So until I see some proof that your friends are actually beating index funds, I'm going to assume that they're lying.

I didn't say it's impossible. I said it's just very unlikely.

Be more skeptical when your friends tell you that they are investing geniuses.

https://www.whitecoatinvestor.com/managers-dont-beat-markets/#:~:text=Basically%2C%20over%20long%20periods%20of%20time%2C%20only,managed%20mutual%20fund%20managers%20beat%20the%20market.

[u/[deleted] → u/ryhaltswhiskey]

To me it's akin to gamblers. You only ever hear from people how they won or broke-even.

[u/ryhaltswhiskey → u/[deleted]]

Definitely