Saturday, May 14, 2022

Gary Vaynerchuk talking about "the next economic meltdown" in recent months


Gary Vaynerchuk is known for many things, hustling, cuss words, bravado, and using social media in entrepreneurship, top the list.  He often talks about how he was a "C and D student" in high school.   As a businessman, Gary's known for taking his dad's New Jersey liquor store from $3 million to $60 million in annual revenue in 5 years, using Google Adwords, SEO, and his YouTube channel, "Wine Library."  Since leaving there, he's created Vaynermedia, bootstrapping it to around $150 million in revenue in a decade.  In the same period of time, Gary's college, Mount Ida College, went out of business in 2018, and was eventually bought by the University of Massachusetts.  Irony.

This 13 minute video above is clips of Gary, from his enormous collection of content, from recent months, talking about "the next financial meltdown," which appears to be happening right now.  This "C and D student" is beginning to look pretty smart.  Unlike many CEO's he openly talks about how recessions are inevitable.  He didn't know when it was going to happen, he just knew that it was going to happen, at some point.  Watch what Gary does in the next 2 to 3 years.  By the way, he's been buying a lot of NFT's, many from small, unknown artists, as well as launching his own NFT-based community, VeeFriends, which are 10,300 computer generated pieces of Gary's really sketchy doodled characters.  He also sold a few original doodles for over a million bucks through Christie's.  For real.  

Through most of 2021, Gary has been getting people hyped about NFT's.  But for that whole period, he has also been saying that there will be a "crypto winter" when believes "98% of NFT's go to zero."  As a junior high kid, Gary made thousands of dollars a weekend, selling baseball cards.  He's also a diehard garage sale picker from his high school days.  The guy knows collectibles, and he's been predicting the crypto and NFT crash, while getting people hyped on the underlying technology.  He believes NFT's will come back, in a more viable form, and the "blue chip" ones will rise again, as the garbage gets washed out by the recession.  

My point here is that beyond the cussing and bravado, there's a damn smart, and really experienced business guy.  Now that we seem to be in the beginning of the Cryptopocalypse, stock market collapse, and all around recession, Gary Vaynerchuk is someone to keep an eye on.  He's been waiting for this...

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