Millionaire TIk Tok Entrepreneurs Must Be Stopped.

What's up you guys? It's Graham here.

So, I think it's no surprise if you're here watching my channel right now; chances are you're doing so because you're interested in making money. I've dedicated this channel towards teaching people the intricacies of real estate investing, how to build up your credit score without spending any money out of pocket, the best ways to live below your means, save as much money as possible, and invest long-term. I believe—or at least I believed—that YouTube was the best place to share that information. After all, there's no possible way that someone could explain how you can make millions of dollars in under a minute, right? Or so I thought.

Recently, it came to my attention that there's a brand new wave of like-minded entrepreneurial young adults who are taking over the internet by storm. They're dishing out business advice, and they're teaching you how you can make a crap ton of money in a place that I never expected—TikTok! That's right, the social media mega app that was formerly known for bad acting and lip-syncing copyright infringement has now been overtaken by the world's most forward-thinking entrepreneurs who are teaching you how to get rich.

Though some people might think that giving business advice on TikTok is like the equivalent of Edward Scissorhands giving massage lessons, I think we should give it the benefit of the doubt. Give it a shot and see what it's all about. So, we're going to be looking through business and entrepreneurial TikTok pages in the name of research. I'm going to give you my completely unbiased opinion on how accurate this information really is and whether or not TikTok is actually a good place to learn how to make your millions.

And if that doesn't deserve a like on the video from me spending way too long on an app that makes me want to yank my eyes out, then I don't know what does! That said, I would really appreciate a like on this video, and we should start with one that is bound to get us some unique content on here, and that would be #entrepreneur.

Now, one of the first results that I see has over a half a million likes on it, and it's titled "24-year-old millionaire takes a hidden camera to the bank." As surely a 24-year-old millionaire would have some extremely valuable insights and wisdom to share with the planet, did help lift this up to his lifestyle, right? Well, instead, it's a video where he withdraws ten thousand dollars from his bank account in stacks of twenty-dollar bills and then proceeds to stuff it in his jacket pocket while making the subtle offhand remark, "Oh no, it's not going to fit."

Well, the good news here is that at least he has the money to go and buy another jacket with bigger pockets. Anyway, here's what's confusing to me. First, you don't need to be a millionaire to take ten thousand dollars out of your bank account; all you need to do that is ten thousand dollars. Second, what is he doing with all that cash that he couldn't just do with a credit card? Objectively, it's common knowledge that using cash for such large transactions is a terrible idea. There's no purchase protection, you don't get any cash back or rewards, you're at risk of getting robbed, and it requires you to own a jacket with big enough pockets to hold all of your cash.

And third, who's to say he doesn't just spend ten minutes taking pictures and videos of all of his money only to then get back in line and then demand the cashier put it all back in his account? I have so many questions! So, I googled his name to see if I can find more information on him, and I did. He has a YouTube channel explaining that he, step one, dropped out of college, step two, discovered social media, step three—well, we're not entirely sure what happens after he discovers social media, but he somehow makes a lot of money and takes pictures of himself in his BMW, then step four, and he's now a millionaire.

Although from my perspective, this really isn't enough for me to be able to tell anything about him other than that he does social media, which is pretty much the equivalent of you telling people you go to work when they ask what you do for a living. Not to mention it tells me that he's pretty bad at managing money if he's wasting perfectly good champagne like that. But let's keep going to see what else is out there in the name of research.

And that brings us to the most liked video in the #entrepreneurs section that I could find, with seven hundred and thirty-four thousand likes titled, "How I became a millionaire by twenty-five." It starts off by playing music that I would never be allowed to post here on YouTube without getting a copyright strike, so I'm gonna go ahead and mute that out. Alright, we're going to be taking some notes here; let's see how she did it.

Study business in college, okay check. Worked a full-time corporate job, check. Renting a bedroom in her townhouse, okay check. Started a videography business, okay. Sold products on Facebook Marketplace, saved, invested in real estate, teaching you all my tips and tricks. Hmm, very interesting. Okay, I'll admit that's a good hook, but without any context, I can't help but feel like she's leaving us a whole bunch of breadcrumbs that lead absolutely nowhere.

Like, I want to know, was she still working for a corporate job while running a videography business while, at the same time, selling products on Facebook Marketplace? Did she own her townhome? How much was she able to save, and how much of that was she able to invest? I mean, it sounds like a solid route to take, and it's not bad advice, but maybe we could find out more information if we just keep looking.

So, within a few seconds, I came across this with "Stop scrolling!" in big bold letters. I'm gonna want to see this! "I became a millionaire by the time I was 25. Now I'm teaching y'all how." So, we didn't go anywhere, and we just went in this giant circle. But don't worry, I'm not giving up quite yet! We're gonna get to the bottom of this because I got another one.

"I own multiple six-figure businesses. I teach elementary school kids, middle school kids, high school kids, college kids." Wait a second! Are those the kids? At that point, wouldn't that just be adults? Because then you go from that to "Grandmas about money," "how to invest," "starting a biz." Okay, so a few things come to mind: one, we haven't really learned anything yet. And then what about everyone else between the ages of going to college and then becoming a grandma? Also, since when do we exclude grandpas from all of this?

I should make it known that you're on YouTube; everybody is welcome, including grandpas. Anyway, going back to this, it just seems like she's telling us, "Hey, I think I'm a millionaire by 25, follow me to learn how!" Okay, awesome! I'm gonna follow you! "I started multiple six-figure businesses." Cool! How did you do it? "Follow me, and I'm gonna tell you how I did it!" How'd you do it? "I became a millionaire by 25." Okay, but seriously, let me see if I'm gonna actually find something on this.

Here is this one; the title literally says "How I made a million dollars," so this has to be the answer, right? Gonna get out my trusty notebook so I can take some notes here. "Get good grades in school, a high-paying job is next, you fool! Start side hustles there." Cool! Keep going!

"Despite the ridicule." Wait a second! Who is ridiculing you for getting good grades in school, landing a high-paying job right out of college, and then starting side hustles? Like, I'm gonna go out on a limb and say that those are things that people actually don't ridicule you for. It's almost like people want and encourage you to go and do those things.

All I'm getting out is this: without any context of her situation, it doesn't really tell us how she made a million dollars. It's kind of like Elon Musk telling us to "go to school, start a company, sell it for a billion dollars, and then keep going despite the short sellers." There's gotta be something else I could find on her though, like this one right here: "I own 20 houses free and clear, became a millionaire at 25, and now I own my own business, and now I'm sharing all of my secrets" with two hundred and sixty thousand likes.

Okay, we're back to the very beginning again! I thought we were going somewhere with this, I really did, and then we went absolutely nowhere, and we're back to the very beginning where we first started. Seriously, I'm actually trying to find something, scrolling back through her page, and then I get hit with another one of these again.

"How she became a millionaire at 26" with no context whatsoever. And then you got this one: "How most people make money by slowly increasing their salary over time, but she makes money by becoming a millionaire at 25." Now it all makes sense! I don't know; to me, it just kind of feels like she's telling us that she's a millionaire and to follow her to find out how she became a millionaire.

Then we just wait! But after a long time searching, I finally found one! I got something here; trust me, this is good! She bought an entire house as a foreclosure for $5,500. She fixed it up herself and now rents it out for $900 a month. There we go! It only took me 10 minutes of scrolling through her page to find something, but at least now we're getting some of the details out.

Oh wait, never mind, we're actually back to the very start again. You know what though? In her defense, I have to say I get what she's doing, and it's working really well. She understands a lot of people on TikTok have the attention span of a goldfish, and if she can't effectively articulate her message within a few seconds, she's lost them.

This is also a very sobering reminder that oftentimes, people don't want to be made aware of all of the grueling hard work and sacrifice it takes behind the scenes to become successful. Like, I guarantee you while she was working away for years, she was not dancing around talking about making money. She was most likely in the trenches, putting everything aside, working relentlessly, and taking a lot of risks to make that happen.

As a fellow content creator, I have to say people just don't like hearing about that. Most people really want to believe that making millions is as simple as starting a company, saving money, and then voila! You could have the same lifestyle as I do. What ends up happening though is that eventually, people realize that it's actually really hard work and then they get discouraged when it takes them longer than they think it will.

But the other truth is that if you ever talk about stuff like that, then no one wants to watch your videos and then you just slowly fade away into the abyss of the algorithm. That is perfectly representative of this, which has 120,000 likes—getting double the engagement of a video talking about her buying real estate. But at least on the bright side, if this is what it takes to get kids and grandmas interested in investing, then you know what? I'm all for it, and Addison seems pretty legit.

But the more I start digging on TikTok, the more I start realizing that every single TikTok entrepreneur does the exact same thing. Just look at this guy: "Did I create a seven-figure business and move into my dream apartment at 25, showing you how!" Again, with absolutely no context whatsoever.

You know, I think I'm finally starting to understand this whole TikTok thing. All you need to do is tell people why they should follow you, and then you need to keep reposting why they should continue following you. Yeah, why didn't I think of that?

Although I kept scrolling and I came across this other account, Charlie D'Amar, to which the screen changes in color and he dances to his monthly income of eighty-seven thousand dollars with, again, no context whatsoever. I seriously can't say that with a straight face! Of course, in his defense, titles and thumbnails like that get views.

The reality is that you need to go to such extremes online to get people to click on you in the first place. Like, I cringe every single time I put "millionaire" in the title, believe me! But guess what? If I don't do it, it doesn't get as many views. So, even though I realize and acknowledge that it's disgustingly self-absorbed, I understand the benefit of the greater good is that more people click on the video and then I hope the actual content of that video is good enough to keep people watching more and then hopefully get them interested in the broader aspects of personal finance, investing, and saving money.

But I think if you're gonna be talking about your monthly income or put "millionaire" in the title, at least make it educational. You want to give people a reason to watch it. Make it so good that after they finish, they walk away with just knowing a little bit more than they did before. That way, it's not just you dancing to your own monthly income.

But then I came across another really interesting entrepreneurial TikTok page. You know when you feel that sudden urge to go and search hashtags? Success! That would bring you to this post by Adrian with the title, "I just made a million dollars while traveling the world with no boss, no office, just a laptop."

Although if you look closely, you're gonna notice a big red flag. Seriously, got to pay close attention to this one! Just look! He's holding his iPad upside down! What type of deranged person would ever hold their iPad upside down when showing a picture?

Okay, but seriously, at first, I was a bit skeptical of this PayPal sales report, so I had to do a bit of digging. Because for a lot of people, these numbers are gross before expenses. See, there was a popular tactic a while ago and even still now among drop shippers where they would say, "Look at how I made twenty thousand dollars in a single day!"

But what they wouldn't tell you is that the product cost them fifteen thousand dollars, they spent forty-five hundred dollars in marketing, and then after all processing fees, they're left with really only a few hundred dollars in profits. Now, don't get me wrong, a few hundred dollars in profit is absolutely incredible, but it's a far cry from the twenty thousand dollars that they would mention.

Oh sure, they can counter back, and they could say, "But Graham, that was technically the truth! Technically, I did make twenty thousand dollars a day!" So, it's not misleading because technically I made money! But anyone who's expecting that they can make twenty thousand dollars in a single day is going to be highly disappointed when they can't afford their Lamborghini payments in high school like they thought they could.

And if you want to hear some shady business, I've heard stories of some of these click funnel gurus literally going and buying their own courses so that way they could show a million dollars in sales and get that award. Think about that for a second; that's genius! They could literally charge a million dollars on their credit card over a year by their own program.

The money goes back to them, and all they end up paying is a two point nine percent processing fee. So for the low cost of twenty-nine thousand dollars, you can get a million credit card points, get that ClickFunnels award that says you did a million dollars in sales, and then you could say I've done a million dollars in sales.

Most importantly, now you have the credibility to teach other people how to do the same! Here's what I'm getting at. At first, I was skeptical about how much of this one million dollars was actually profit, but I took one for the team and went through about twenty more of his TikToks, and he says he made a million dollars over two years through affiliate marketing.

So, I gotta say there's a very good possibility that there's very low overhead associated with this. Or even in the event that he's spending like two or three hundred thousand dollars in ads, it's still wildly impressive that he was able to do all of this in two years online through affiliate marketing.

I'm not saying that he's not truthful or anything like that; I'm just a little bit unsure and I want to know what exactly he is affiliate marketing. And TikTok certainly doesn't tell you because nearly every single TikTok is basically just a funnel to get you to the website to pay to then learn more.

But I will say, because I want to make these videos as fair as possible, from what I can tell, this does all seem very legitimate. So at this point, I'm about an hour deep into researching TikTok videos and I'm really getting to the point right now where I want to bleach my eyes to cleanse them from all the cringe that I just saw!

But so far, my TikTok research was not done in vain, because here is what I've learned from the best, most successful entrepreneurial TikTok channels out there: First, you're gonna want to show people how successful you are, and cash is by far the most effective. So go ahead, empty out all the money from your bank account and then fan it out in front of you for everyone to see!

That is gonna be the best way for you to build authority and credibility with your audience. Second, you're gonna have to tell people how amazing your life is. Whether you like to travel, drive fancy cars, or spend money like the government is about to seize your bank accounts, and you need to get rid of the evidence ASAP, it helps drive traffic to your page.

Third, you got to keep people wanting more! So promise that you'll be teaching people how they too can have a lifestyle as amazing as yours, and all they need to do is like the video, follow you, tag three friends, and share it on every social media account possible.

Fourthly, you're gonna want to keep reminding people how cool your lifestyle is by showing more cash, more travel, and more fancy cars! That way they keep tagging more friends.

Finally, in my honest opinion, I have to say TikTok is probably not the best place to learn about financial advice. I mean, there's decent content on there, and there are absolutely some good people to follow, but we have to remember that the broad demographic of TikTok is probably a lot lower than here on YouTube, so in order to get them all hyped on the aspects of being an entrepreneur, you need to be pretty basic, and you also need to be pretty quick to the point.

Otherwise, no one is really gonna be watching you! Like, if I were young, I would be way more likely to click on the guy who's dancing to his eighty-seven thousand dollar a month income than I would learning about how to invest in a bear market. After all, seeing eighty-seven thousand dollars a month could get them more interested in learning even more!

So from that perspective, I completely understand, and overall, I'm okay with it.

And for me at this point, I've spent way too much time on TikTok, and I have to be done with this! So here we go! I took one for the team to review this app so you don't have to go on the app like I did. I'm exhausted!

So what that said, you guys, thank you so much for watching! If you've not already destroyed the like button, make sure to do that; subscribe button to end notification bell! Feel free to also add me on Instagram; I post pretty much daily! So if you want to follow me in there, make sure to add me on that.

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Thank you so much for watching, and until next time!