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Gary Vee: 5 Things To Watch For The Next Economic Recession

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Back in 2008, we saw the greatest financial collapse in ages. Since that massive hangover, everyone’s waited for the next one to arrive.

Super entrepreneur and influencer Gary Vaynerchuk took to YouTube to list his reasons why one is coming…and coming soon. Here’s what he had to say.

No one knows the exact day, but I can tell you this for sure:

The economy is going to collapse. Maybe not tomorrow, maybe not next year, but we’re not going to live the rest of our lives in a bullish market.

When the economy collapses, here’s what will happen…

He then listed five things.

1. The “Brand” Of Colleges Will Collapse

“I genuinely believe that student loan debt will tear down this economy,” Gary Vee says. “The same thing that happened to the banks in 2008 will happen to colleges during the next recession, and the conversation around colleges will change.”

2. Companies Will Be Forced To Be Smarter About How They Spend Their Money

Right now companies can test, try and explore tons of different ways to market.

“But when the economy melts, big businesses will fold because they’re overleveraged,” so sayeth the Vee. “And the ones that hang on will get their marketing budgets cut massively.”

So if you don’t know how to get lean, you’ll get eaten alive once the next recession hits.

3. Sales Will Go Down

This one’s fairly obvious. If the economy is down, that trickles down to your business. Alas.

4. Entrepreneurship Won’t Be Put On A Pedestal

Right now, the market is ripe for entrepreneurship. Lots of C-players are winning when they shouldn’t be, he says.

“When the world melts, people will get much more practical about how they live their lives, and entrepreneurship will be recognized as something hard. Not something that anyone can do.”

5. People Will Get Happier

These days, everybody’s trying to stunt for the ‘Gram, living fake lives.

“When there’s a correction,” he says, “everyone is going to get back to the right mental place and do what they actually love to do instead of chasing a fake lifestyle.”

ENTREPRENEURS

This Entrepreneur’s Led An IPO, ICO, And Actually Did What The McMahons Couldn’t. (Penetrate China.) Here’s How He Did It

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In the world of startups and entrepreneurships, you have a lot of talk, a lot of dreams, a lot of hype and — ultimately — a lot of disappointments.

But that’s life. It’s a small world. And it doesn’t take long to get found out if you’re not the real deal.

In this Q&A, however, we brought the heat.

David Chen is a Millennial entrepreneur with the experience of a Wall Street retiree.

Billion-dollar merger? Check.

Awards? Check.

Multiple startup exits? Check.

Successful ICO? Check that, too.

And perhaps, most impressively, Dave’s managed to do something even the McMahons of the WWE couldn’t — penetrate the Chinese market successfully.

In this Q&A, we ask him why entrepreneurs fail to raise money, even if they have a good idea (hint: ideas ain’t shit), the first thing you need to do, and, finally, what the best industries were.

Enjoy. 

Let’s get right to it. What’s the main thing stopping entrepreneurs from raising money?

Knowing their audience. You can’t assume that you know something and that it works at one region, but not the rest. It’s a relationship—and most of the times there aren’t relationships out there.

Secondly, you don’t approach someone in esports like you would in commercial. So my FaZe Clan pitch is different from my commloan pitch. 

When is the right time to raise money — and what’s the first thing an entrepreneur needs to do?

There is never a right time, there’s only a right project. Know all your answers, make it simple. If a 10-year-old doesn’t understand it, redo the pitch.

You’re on a number of boards of startups. What’s one you’re bullish on at the moment?

I love them all. Sharebert was named Forbes’ top 23 in tech innovation. Commloan has done over a billion in funding—and I’m a customer.

FaZe Clan is the largest esports team with 300M subscribers and 10B views last year. And Micamp 20/20 does the best credit card processing.

What’s the best startup play — or sector — right now?

Sharebert is a great startup play because the tech is there. The management team is there. The need is there. It’s just there.

FaZe Clan is great because they have the global market, viewership—and they’re different.

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W-key? Nah 📺 @cloakzy #Fortnite #FaZeUp

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What’s the next frontier for start up world.

I see China as the next market.

Why do you say that?

I say that because they have 44% of the world’s population. And if you don’t work with them it, they’ll just do it themselves.

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ENTREPRENEURS

How Real Madrid’s Cristiano Ronaldo Spends His Millions

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With a massive net worth that totals almost $400M, the 34-year old soccer player is also one of the richest sports stars in the world. With a string of deals, bonuses and endorsements coming his way, here’s how he spends his millions.

 

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ENTREPRENEURS

This Millennial Makes 6 Figures From Selling Other Peoples Stuff

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Check out how this 32-year-old, Mark Meyer, started his business with a $400 loan. He is now making six figures, by selling other peoples items on Ebay and Amazon. He mostly gets his inventory from police auctions, liquidations and abandoned storage sales.

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