Comment on How come most celebs/influencers go broke with in a short amount of time earning a couple million? Why not invest in local stores or offer money for a percentage of said store why not perpetualy money

CompactFlax@discuss.tchncs.de ⁨1⁩ ⁨day⁩ ago

Perhaps we need to work on writing one sentence clause, putting the phone down, and then finishing it once the brain recharges? Every post OP has a stroke about half way through.

In answer to question: because people do not do well with sudden increase in net worth and quickly adjust to a higher lifestyle than they can afford. Why don’t they invest in a local store? Because the rate of local small business failure is abysmally high. That’s why banks exist - at the most simple, you lend them money, and they lend it out, and pay you a bit of the profits they make. Hopefully they distribute the risk appropriately.

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