4 ms·

You're gonna be able to easily get these kids to lock into all kinds of financing structures in the future.

deleted 3y ago
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ohdannyboy 3y ago
Like a five (or even six) figure unsecured and non-discharhable loan given to fresh 18-year-olds for education that often has no market value?
- lsmeducation 3y ago
  No, people who took those are just morons. I'll leave it up to the finance people to come up with interesting instruments to take advantage of these kids. Maybe their bank accounts will just become money market accounts that are tied to leveraged ETFs. I think abstracting away their real life money into a crypto that is worth 1/10th of the dollar is a good way to go. Make that crypto the exclusive currency for their habits (games, social media) so they have no choice but to convert to it. Easy way to part them from their real earnings that way. There's easy money here if you are ruthless. If you print your own crypto for their habits, you can effectively act like the US Fed. Just inflate away the value of their coins every time. It's a no brainer.
  - ohdannyboy 3y ago
    Too many people fell for it for them all to just be morons, but that's not my point. What I'm saying is that young people will make fall for all sorts of scams if the adults in their life (and government incentives) push them in the wrong direction. Same thing for older generations thinking that things like social security was ever going to be more than a Ponzi scheme (similarly, too many boomers fell for it for me to write them all off as morons). Getting kids addicted to gambling with virtual currencies might shape the structure of the scams, but the idea that Gen Z is going to be uniquely vulnerable to finance scams doesn't track for me.
- satvikpendem 3y ago
  It's been a meme for a long time that certain majors have little economic value, the entire liberal arts major joke is just one example of this. People make fun of things like underwater basket weaving (and not majors like engineering) for a reason. If someone didn't know the worth of their major and the resultant job prospects, then that's really on them.
bigbacaloa 3y ago
[dead]
lmm 3y ago
I think it's just the opposite. Kids who've grown up with this crap will be wise to the tricks. Those who don't get exposed until adulthood have no resistance. Just like how the younger generation is pretty good at using social media responsibly and prioritizing stronger relationships, whereas the older generation get hooked and spend their whole lives yelling in newspaper comment sections.
- kortilla 3y ago
  Huh? The younger generation lives with their phones attached to their face. They don’t prioritize actual relationships.
  - dpig_ 3y ago
    That might be your perception.
- bakugo 3y ago
  > Just like how the younger generation is pretty good at using social media responsibly and prioritizing stronger relationships I legitimately can't tell if this comment is meant to be ironic or not.
  - lsmeducation 3y ago
    Our friend has not visited Tiktok lately or played any of the popular online games. These kids are fucking HOOKED 24/7.
- deleted 3y ago
  [deleted]

deleted 3y ago

[deleted]

Like a five (or even six) figure unsecured and non-discharhable loan given to fresh 18-year-olds for education that often has no market value?

lsmeducation 3y ago
No, people who took those are just morons. I'll leave it up to the finance people to come up with interesting instruments to take advantage of these kids. Maybe their bank accounts will just become money market accounts that are tied to leveraged ETFs. I think abstracting away their real life money into a crypto that is worth 1/10th of the dollar is a good way to go. Make that crypto the exclusive currency for their habits (games, social media) so they have no choice but to convert to it. Easy way to part them from their real earnings that way. There's easy money here if you are ruthless. If you print your own crypto for their habits, you can effectively act like the US Fed. Just inflate away the value of their coins every time. It's a no brainer.
- ohdannyboy 3y ago
  Too many people fell for it for them all to just be morons, but that's not my point. What I'm saying is that young people will make fall for all sorts of scams if the adults in their life (and government incentives) push them in the wrong direction. Same thing for older generations thinking that things like social security was ever going to be more than a Ponzi scheme (similarly, too many boomers fell for it for me to write them all off as morons). Getting kids addicted to gambling with virtual currencies might shape the structure of the scams, but the idea that Gen Z is going to be uniquely vulnerable to finance scams doesn't track for me.
satvikpendem 3y ago
It's been a meme for a long time that certain majors have little economic value, the entire liberal arts major joke is just one example of this. People make fun of things like underwater basket weaving (and not majors like engineering) for a reason. If someone didn't know the worth of their major and the resultant job prospects, then that's really on them.

bigbacaloa 3y ago

[dead]

lmm 3y ago

I think it's just the opposite. Kids who've grown up with this crap will be wise to the tricks. Those who don't get exposed until adulthood have no resistance. Just like how the younger generation is pretty good at using social media responsibly and prioritizing stronger relationships, whereas the older generation get hooked and spend their whole lives yelling in newspaper comment sections.

kortilla 3y ago
Huh? The younger generation lives with their phones attached to their face. They don’t prioritize actual relationships.
- dpig_ 3y ago
  That might be your perception.
bakugo 3y ago
> Just like how the younger generation is pretty good at using social media responsibly and prioritizing stronger relationships I legitimately can't tell if this comment is meant to be ironic or not.
- lsmeducation 3y ago
  Our friend has not visited Tiktok lately or played any of the popular online games. These kids are fucking HOOKED 24/7.
deleted 3y ago
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