4.8 • 18.1K Ratings
🗓️ 22 January 2021
⏱️ 8 minutes
🧾️ Download transcript
Today’s episode is a GaryVee TV Classic! So many people make the mistake of getting their stimulus check and immediately spending it on something dumb that they do not need. There are so many things you can do with the opportunity this check provides. You could invest it, put it into your business, run ads with it to try and grow your personal brand, pay off some of your debt, and tons more but so many are going to blow it all on something unnecessary. If there is anything we can all take away from 2020 it is that saving is super important and you should never put yourself in a position to lose everything. Enjoy! Let me know what you thought.
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0:00.0 | This is the Gary V. Audio Experience. |
0:05.0 | Well, people have been getting their money because the amount of stuff being bought on e-commerce last week is ludicrous as stimulus checks have hit. |
0:13.5 | And I'm so fucking angry. |
0:15.5 | Fuck, man. Like literally people get their $1,200 check or more and they fucking spend it immediately. |
0:22.0 | Fuck. |
0:24.0 | That's almost like we give like I just all my e-commerce friends are like we're exploding this week and I'm like what the fuck? |
0:30.5 | Literally hundreds of them and I'm like, holy shit, people are actually taking the stimulus check and buying dumb fucking shit. |
0:40.5 | So in this environment now where basically you know purchasing power has decreased so significantly, people are scared as well. |
0:51.0 | Well, you know, sorry to interrupt Brett and let you finish your thought. |
0:55.5 | Purchasing power is interesting, right? |
0:57.5 | Because e-commerce had its greatest two weeks of all time because people got their $1,200 stimulus check and bought. |
1:04.0 | America, even during the Great Depression when it was buying makeup or during the Great Recession where tons of luxury brands were built, |
1:11.5 | you know, don't ever underestimate that we live in the most capitalistic consumer centric society that has ever been built. |
1:18.5 | So, you know, knowing that you've got premium brands and things of that nature, you know, this, yes, it becomes a game of who's better now. |
1:27.5 | Sure. |
1:28.5 | You'll have to be better, but it's staggering to me how much purchasing power there still is even when 40 fucking five million people are out of a job. |
1:36.0 | Yeah. |
1:37.0 | We're built on credit. |
1:38.0 | We're not attached to the gold standard. |
1:39.5 | Like we have, we have incredible economic power even that are worse. |
1:43.0 | Sure. |
1:44.0 | It's fascinating. |
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