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During this economic collapse we have seen people lose their businesses, their life savings, and their jobs.
In fact, since the collapse started, searches for unemployment applications on google have increased by roughly 4700%.
And just last week alone, 6.65 Million people in the United States filed for unemployment. That’s about 2% of the entire population. And to put that in perspective, only about 155 million people in the united states are in the workforce…meaning that last week alone will hike the unemployment rate by about 4.2%. This means that we have likely already surpassed the unemployment levels of the worst parts of the 2008 Financial Crisis.
Yet, despite all of this doom and gloom, there have been some people that have been able to take advantage of this situation. In fact, many Millionaires, Multimillionaires, and even billionaires might be being created right before our very eyes. So who are these people? And could you do anything right now to help bolster your financial future? Well lets start off by asking ourselves, why do some businesses go through a boom during a crisis.
A perfect example of this is Mcdonalds during the financial Crisis. In 2008 and 2009, as businesses were collapsing, unemployment was nearing 10%, and millions of people were losing their jobs…Mcdonalds actually saw an increase in revenue and profits by about 4.5% per year. So why did this happen? Well think about it.
When millions of people have their incomes drastically reduced, they look for ways to cut costs in order to survive. One of which is food. And in 2008, Mcdonalds had a pretty long list of items on its dollar menu. Meaning that it was cheaper in many cases for a family to go and buy food from mcdonalds for a few dollars, than it was to get fresh food from a grocery store. This is one example of a business that was in the right place at the right time while going through a recession.
But today is a completely different economy than it was 12 years ago. In 2008, only about 22% of the world were regularly on the internet, meanwhile, about 60% of people today are regularly on the internet.
And the results of this have been staggering. A recent Nielsen report showed that streaming on these platforms has spike by over 22% since the lockdowns were implemented. And that’s one of the reasons why creators like myself and many other influencers, have actually seen substantial increases in viewership, subscriber counts, and revenue during this time…as opposed to many other businesses that are seeing decreases across the board. In fact, there are some genres of online content creation that are seeing 50, 100, or even up to a 500% increase in revenue since the lockdowns. Those are videos that have to do with at home meditation, cooking, home workouts, and DIY videos. Largely things relating to stuff people can do at home.
And depending on the creator, this might mean an extra few hundred dollars a month, to tens of thousands of dollars in additional revenue per month. And out of all the industries I mention in this video, I can guarantee you that this crisis will create more wealth in the social media space, than it will in most other industries.
And whats crazy is that there has been such an influx of online viewership, that the largest online video companies like Amazon, Youtube, Netflix, and Disney, have all agreed to reduce the bitrates on their platforms, in order to make sure that their websites and applications dont slowdown or crash.
This has led to an explosion of online industries like E-Commerce and Social Media. And that brings us to the first business that has been going through a boom recently. Online Content Creators.
Because of the global lockdowns, more people are being forced to stay home and try to entertain themselves. So, many of these people are turning to platforms like netflix, Disney Plus, Youtube, and other streaming services in order to kill the time.
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