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Collin Harness


Businesses That Are A Scam

There are many businesses that promise the moon, but cannot deliver on that promise.

    1. Banks

    You give them your money and tehnically they give you interest. Then they use your money to loan out money to other people. The problem is that the interest is tiny. Unless you have a massive amount of money stored with a bank the amount you make off the interest does not really make a difference.

    But the bank makes a ton of money. There is a reason there are so many different banks out there. It is a proven business model that is lucrative.

    2. Wall Street

    Stock prices move not based on the performance of businesses but, instead investor sentiment. Is the business going to be more profitable in the future? Is the business slowing down? Is the overall economy slowing down.

    Some businesses are more profitable than ever before, but their stock price is declining because institutional investors see a recession on the horizon. Prices are declining based on pessimism rather than performance.

    This happened during the runup during the pandemic. Many businesses were shut down, but people were optimistic about the future.

    3. Electric Vehicles

    I'm a fan of electric vehicles. I think they are an important part of a better climate future. They do not create as much gas as a traditional vehicle. Which is a massive part of the increasing temperature of the planet.

    But they are not really being honest about their climate impact. Building batteries requires a ton of energy and resources.

    We will need mining to meet the capacity for batteries. We will need more factories to create computer chips that will go into these cars.

    Every car company has comitted to going electric. That means that factories will need to be changed or built in order to create these new type of vehicles. That is a lot of new energy that will be required to change all cars from ICE to electric.

    Don't forget about the rubber. All these new electric cars will have tires that are made of rubber. That rubber is made using oil. Aren't we trying to move away from oil? I have not seen any car company plans to have tires made from an earth frieldly material. And then how will those tires be manufactured?

    4. Hospitals

    Healthcare in the United States is more complicated than anywhere in the world. It is a web of government, insurance, public companies, employees and consumers. It is complicated, but extremely lucrative.

    Hospitals are designed to help people get better when they are sick. But they are also designed to make as much money from their consumers as possible. The actually pricing of services is opague. You can get a discount if you pay cash. Some services can also be negotiated.

    It is not neccessarily the hospitals fault. The government has created a really complicated payment system that gets more complex over time.

    5. The Lottery

    There is nothing wrong with playing the lottery. It is a game. And people love to play games. If you get pleasure from choosing numbers and that feeling of possibly holding the winning ticket in your then it might be worth it to play the lottery. But just understand that your money is going to prop up a gaming institution rather than some altruistic cause.

    And there is nothing wrong with that. Lots of people pay money to play games, because they get enjoyment out it it. But do not sell it as something it is not.

    Does anyone really believe that our education system is better, because we have a lottery system that pays into it? Are more inner city children being taken care of because of the lottery system?

    Some people do win, but most people do not. And after they lose they are worse of than they started.

    People on the Robinhood app all the time, because it 'gamified' the stock market. Yet you have a much better chance of making money using the Robinhood app than you do from purchasing a lotter ticket. Why does the lottery get a pass?

    6. Universities

    I could do a whole list on just this one topic. There are so many problems with Universities.

    - Tuition forever increases, never decreases.

    - Universities are like high-end cities now.

    - They require students to take classes that are unnecessary.

    - Why are the football coaches allowed to make more than the president of the University?

    - If a student is paying to attend a University why should there be an attendance requirement for each class? It should be up the student whether or not they want to attend. Maybe their time is better spend reading or praticing the craft.

    The biggest problem with Universities is that the input is not worth the output. They cost too much money and then they guarantee nothing in return. You also waste valuable working years and go into debt in order to get a piece of paper. You could be spending that time learning a craft in the real world.

    7. Professional Sports

    This one always gets me in trouble. Sport in the US like basically religion. College and professional football is sacred. But also a major scam.

    Up until 2015 the NFL was considered a nonprofit. They paid not taxes to the federal government. This was changed and now they pay taxes. But don't worry they can write a lot of things off so they do not pay much. But that is not the main problem.

    The owners make all the money, the players do all the work. Ok there is a players union, but owners make off with a lot more than the players and they are the ones who get brain damage. Again, not my biggest problem with college or professional sports.

    Why should poor people pay for sports stadiums.

    College student pay high tuition and get the pleasure or purchasing tickets early to football games.

    Cities pass massive bonds, paid for by the middle and lower class, to build massive stadium that most of the citizens will never get to use. But what about the tax revenue and jobs?

    A new stadium does most likely increase property values, so home owners in that city will likely get a little boost. But there are only 9 home football games. How many jobs are really being created?

    Most of the football owners are billionaires. Why should the public pay for their stadium. If the public pays for the stadium, the public should also own the team.

    8. News

    It should not be called 'The News' anymore. Instead lets call it curation. Newspapers, news sites and news channels are really curation channels. They are curated feeds of articles selected by an editorial staff.

    A select few people select which stories are going to be told and from what angle. What questions are going to be asked? How long are we going to cover this one story? Which stories take priority over others?

    The news consumer is the product for the news commercials.

    How many news stories are run against advertisers?

    You think that as a watcher of news you are going to become informed. And to some degree you are, about a select number of stories on selected topics like national politics and weather. But not much else. For all the other topics you will need to do your own research.

    9. Utility companies

    Every single year there is an energy crisis during the summer. There is the threat of rolling blackouts because there is too much stress on the grid. We know summer is going to happen every year so why do these problems keep happening?

    Utilities are business like any other. Even though they may a government monopoly, they are still publicly traded with a CEO and a board of directors. It would take a lot of resources to strengthen the grid. This will only happen after natural disaster.

    10. Grocery store food

    They do offer healthy options like fruits and veggies.

    But most grocery store food is not good for you. It is packaged in bright colors and brands so that you buy more and more. Most of it has a lot of sugar. Which kills more people than smoking each year. We all have to eat so how could grocery stores be a scam? Because the healthier food is more expensive than the unhealthy food.

    Grocery market themselves as being healthy for you and your family, but the majority of things they sell is unhealthy.

    Eating healthy takes preparation and effort.

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