Ramit Sethi explains why young people fall for get-rich-quick schemes: they've lost faith in traditional financial advice because housing is unaffordable, health care is out of reach, and retirement benefits have vanished. Crypto promoters and apps like DraftKings prey on this desperation, but real wealth requires structural security, not shortcuts.
It's no wonder young people don't trust their advice. And that skepticism opens the door to scammers and creeps who sell young people get-rich-quick schemes that ultimately bleed them dry even more. Basically, DraftKings is not going to make you rich. You know what could make you rich? Being able to afford housing like boomers did. Being able to have affordable health care coverage, perhaps even having a fat retirement account subsidized by your employer like boomers did. But instead, we have Bitcoin bros specifically preying on young people, specifically young men, and 70-year-old American politicians catering to their own generation while screwing anyone younger than them.
