1/3 of Businesses Think They Will Close in 2024
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- Опубликовано: 23 апр 2024
- 1/3 of Businesses Think They Will Close in 2024
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Many small businesses are luxuries not necessities. I ran a performing arts comedy school in LA and it grew after the pandemic but as life got more expensive, enrollment became less and raising prices caused decreases. If you’re running a restaurant or service that is a luxury, you won’t survive unless you store up profits to ride the rougher seasons.
My 87 year old father still calls the fridge the "ice box." When he was a kid the ice wagon did, in fact, come by every few days.
I will be 80 in August. To me, it is called “ an icebox “. LOL
I'm only 66, grew up calling it an 'ice box' and knew why.
This is the first Ramsey video I've saved to my motivation playlist
🎉You should do more history lessons like this @DaveRamsey❤❤❤
Disruption provides opportunities for scale into new markets
I think it depends on the service the business offer
@@user-ec3rm9wr1n true
Great clip
Be glad there’s this much disruption. The alternative is bloated monopolies where the only changes are the prices going up and the quality going down.
Loved the history lesson.
Really love the analogy about the ice box but the thing with ai is it’s not a technology replacing another. It’s a technology replacing HUMANS
The cotton gin replaced humans too.
🙄...
@@jenniferelkins yeah but did it replace the guy who MADE the cotton gin?
@@jenniferelkins my point flew right over your head lol and that’s okay.
Where is part 2 and 3 of this series?
I fail to make the connection between runaway inflation/overhead and AI 🤷🏻♂️
AI will automate a lot of things and make things more efficient and less costly. AI can currently write a script, produce marketing materials, make an entire video based on a single sentence or paragraph, write a will, teach a class, or even diagnose an illness. It will continue to improve and improve and make a lot of human jobs obsolete.
It's all about the ability to adapt. Many businesses in seasons past, when faced with increasing prices, found a way to control the source of their materials to lower their costs. If a bakery owns the farms that produce their wheat, and the mills that grind it into flour, they will be more profitable. If you as a business decide that you have to raise prices, you may choose to keep some items the same price to attract customers and hope that they will spend more money once they're in the door. Hence the dollar menu, and Costco's $5 rotisserie chickens. They're called loss leaders. McDonald's found an ingenious way to make more money by owning the land their restaurants sit on, and charging rent to the franchisee. Even the idea of the franchise itself was born as a way to all but guarantee success in a world where so many competing businesses means the risks of opening a new one are great. Just slap the same name on it and you have instant brand recognition. Same with advertising, which has evolved as the market grows and competition becomes more fierce.
Things are constantly changing in the world and in business. You just have to decide how to respond.
It has nothing to do with it but the media trying to push the false narratives
@@jenniferelkins fun fact: With runaway overhead and $5 gal diesel, if you do not know cost of goods sold and the 50 other levers you need to pull correctly, ALL of your products become loss leaders.
@@jenniferelkins I guess what I meant to say is one third are thinking they will go out of business. He does not address this with a tactical response of look at xyz and consider these maneuvers. He complains about copyright infringement on Amazon and then provides a 100 year old analogy on iceboxes.
When the internet came along online shopping was something people didn't think would catch on. They thought people didn't want to pay and wait for shipping. Boy were they wrong, did it put some out of business? Yes it did Frys Electronics Circuit City for example, they're down fall was their fault for not adapting to the market and the rise in online sales
So layoffs and bussiness's won't cause a housing downturn. Yeaaa will see Davey boi
RUclips a.i. ads & videos of people with 6 fingers and 3 legs are getting out of hand. This nonsense is growing exponentially.
AI - “Already a pain in the butt and a blessing” - Dave Ramsey
Don't forget a Trump economy uncle Dave 😂
He sounds so stupid here. Even his daughter gives him the eye roll and head shake at times. I loved when she came close to saying she didn't agree with him and he "joked" he'd disown her.
AI is a dangerous tools or weapon.
10:48 Dave has a completely ahistoric view of the economy under past presidents. The S&P 500 is up 40% under Biden, was up 176% under Obama, and was up over 211% under Clinton. All these presidents had favorable unemployment rates as well. Not to mention under the, "God help us Bill Clinton economy", was the last time we've ever had a budget surplus, which Dave should love. Very convenient how he neglects mentioning the Bush years which ended in the Great Recession, housing crisis, and -40% to the S&P 500 under his presidency.
He's not that ignorant but he knows some of his base is and wont look things up. They trust what they hear from people they like.
Clinton administration passes law reducing lending requirements for homeownership
Housing market crashes several years later under Bush due to new homeowners being underwater on loans, causing a huge market correction
Cooleobrad wants to know why George Bush did this to us
The stock market isn't the economy. That said, I mostly agree and I remember things being pretty good under Clinton.
@@TeKnoVKNG23 That's true, but generally stock market improvement correlates with other measures of the economy. These presidents all had favorable unemployment and GDP rates too.
It is so hard to get a job right now in America, even if you somehow get one of these jobs it isn't enough to pay for anything.
Hard to get a job? Maybe for you with an unemployment rate of 3.8%. Glad I’m not you.
@itsdavidlo Do you actually believe that? That Unemployment Rate percentage is not real lmao it's all fudged numbers to make the economy look good it doesn't factor in the underemployed, the people who can't find a job or the people who have just given up.
There are jobs in every corner. Unemployed by choice is my next article.
I totally get it, I've been looking for a while. What fields are you looking at?
@Jot78 2 mainly, Warehousing and Logistics as that's where all my work experience is in whilst I have been studying and the second is in the Counselling field as I just finished my Degree at the end of last year and have been on so many interviews but no luck. These jobs just aren't going to hire anyone, I literally do not understand why they interview if they're not going to hire anyone? Maybe to collect resumes for when the economy does get better Idk? Out of about 200 places I have applied to maybe 20 companies called me back then whenever I try to follow up with them they just don't ever call you back.
End of 2024 and throughout 2025 will be severe. Start a plan today because economic hardship is going to be worse than what it has been so far.
Ramsey copywrite strike RUclipsrs who says they’re giving the wrong data on the housing market as well. Shameless and won’t hold up under RUclips guidelines
Pessimistic outlook. I'm optimistic, by nature.
Did you like your own comment?
Was about ready to forward this, until the silly partisan rant at the end.
For example, to imply the Bush43 economy was great, and the Clinton economy was awful because of who was president is to ignore basic facts - bubbles inflated during both administrations, caused by both technology and policies advocated for away from the limelight across political spectrum.
To say nothing of the Bush41 recession in '91, after 3 republican presidential terms, that likely cost him reelection, and the inflation during Carter's admin that was amp'd up because of loose monetary policies of the Nixon/Ford admin. Dave selectively ignores this - and leaves listener with a bad taste.
He's great in his lane of personal finance / microeconomics. When he ventures out into macroeconomics, he discredits himself.
First!
I love it how Dave cherry picks the democrat presidents as an example of a bad economy as if Bush or Trump, or Reagan haven't had any negative impact in our lives. Sorry, Dave, but your beliefs don't match reality.
Huh? Don Juan trump helped the economy? Gas was as cheap as it was back in 2008!!
Liberal personalities cherry pick the Republican presidents as examples of bad economies as well. Are you just learning about opinions?
We didn’t live this under trump
@Dark_Souls_3 No, I just expected more from Dave.
@@rockstar-kp2jy what are we living under?