ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Check out Problematic Workplace Trends on Social Media That Have Been Taken Too Seriously

Social media is filled with instances where people make money off cheap labor and talk about that on social media.
PUBLISHED MAR 23, 2024
Cover Image Source: Man on mobile in front of a computer (representative image) | Austin Distel | Unsplash
Cover Image Source: Man on mobile in front of a computer (representative image) | Austin Distel | Unsplash

In an age when social media influencers are having an impact in every walk of life and most industries, seeking financial advise on TikTok has become increasingly common, to the extent that authorities are also concerned about unqualified experts doling out dubious tips. Apart from qualifications, there is also the issue of biased insights floating around, as only 20% of the financial advice on social media comes with a disclosure about the source.

But the most worrying trend that has emerged on finance TikTok or FinTok as it has come to be known, are strategies that are promising viewers a lot of money in a short amount of time. In addition to that, there's the fact that only 41% of people on TikTok actually bother to conduct fact-checking and research before implementing the financial advice they get online.

One of the most recent examples of such trends is 'Girl Math,' a trend that allowed consumers to justify unnecessary purchases, even if they put a dent in their finances, at a time when prices are consistently rising. Although considering anything below $5 free and assuming that spending $400 on hair extensions is justified for a $40 saving in future is good for funny social media conversations, it isn't practical for serious money management.



 

Speaking of FinTok taking jokes too far, a new cunning way to make money known as the Young Indian Method (Yim) is going viral on the internet. The idea of outsourcing all the work from places like India to exploit cheap labor was floated by an influencer as a satirical take on the practice by American corporations, according to The Guardian. But the joke was picked up by other content creators posing as finfluencers, who decided to further glorify the unethical practice. While the method is perfectly legal, it may not be the most earnest way to run a business.

While many deem this unacceptable, the reality is, that outsourcing has been done for years now. “If you see a branded product from Apple, Nike, or whatever, the assembly workers received a very small share of that value,” David Levine — a business administration professor at Berkeley Haas said, via Berkeley Haas Newsroom.

Many wonder if the method helped people make a lot of money. In this Reddit post, the OP u/skinnyznit takes to the subreddit, Go to r/NoStupidQuestions to ask the community if they think the young Indian method exists.

Photo by MART  PRODUCTION: https://www.pexels.com/photo/a-young-woman-writing-in-a-notebook-while-sitting-on-a-couch-7606074/
The Yim method of money making has gone viral (representative image) | Photo by MART PRODUCTION | Pexels 

The post reads: "I've heard this around the internet that some people work as a middleman, finding clients and then hire some Indian people to complete the job, which might be kinda exploitative since they don't actually do anything and pay their workers badly, but it probably not illegal since both parties agreed."

Many took to the post and wrote about what they had noticed professionally. One of the top comments read, "This is basically what every big company is doing anyway. Yes, people do this. You open yourself to civil and legal penalties if you lie about who is doing the work. If you don't lie, you're fine. The downside of course is that you get what you pay for." Another another user writes, "I really wanna know how to do it. I see this every day and wanna begin but I don’t know how."



 

In mid-2023, YouTuber Iman Gadzhi, known for making a lot of money in a few years, started including portions in his videos where he recommended that solo entrepreneurs outsource their labor to countries like Brazil, Romania, and India where the difference in exchange rates would allow them to pay their workers way less than the average wages. However, it was TikToker @enard.ecom who coined the term "Young Indian Method."

As for the trends that are inculcating problematic work ethics among young employees, 'Lazy Girl Jobs' has been called out for promoting the desire for jobs that require little time and effort among Gen Z. While it simply talks about the desire to make a decent amount of money by doing much at work even if it means lowering ambitions, a lot of young professionals took the 'Lazy Girl Jobs' trend seriously.

Another such trend was 'Coffee Badging,' where employees would just come to office to swipe their ID, grab a cup of coffee and be seen by managers, only to leave soon after that. Although the tactic sounds like a prank, a large number of Gen Z were influenced by it and adopted it as a work ethic.

MORE ON MARKET REALIST
Vance has had varied opinions about the technology in the last year, some good and some bad.
1 hour ago
The studio audience loved the segment as they cheered the two on whole-heartedly.
1 hour ago
While Warsh compared the current situation with the internet boom, economists differ on the opinion.
1 hour ago
He suggested some changes to be made to the 401(k) scheme to help Americans save more.
4 hours ago
The retailer reverted to a traditional method of doing retail business, which many have hailed.
5 hours ago
Costco's notice comes several days after the gift card provider filed for bankruptcy.
6 hours ago
Industries that are susceptible to automation include manufacturing, lodging, catering, retail, wholesale, and extraction.
7 hours ago
The man in question even went on national television to criticize exactly what he ended up doing.
1 day ago
The country had added 130,000 jobs in January and inflation remained at 2.5%.
1 day ago
Harvey says chitlins are the reason he can “never get COVID.”
1 day ago
The administration has been urged to roll back their policies and lower costs for tourists.
1 day ago
The product might contain a toxin that is produced by mold in fruits, especially apples.
1 day ago
US energy policy under Trump intends to lift drilling restrictions and deregulate to lower equilibrium oil prices.
1 day ago
The product was produced on January 14 and distributed to a number of states.
1 day ago
While the hefty tax refunds can boost consumer spending, the demand may also drive up inflation.
1 day ago
The government site further stated that the recall concerns MK04 air purifiers, with serial numbers beginning with "BN."
1 day ago
Goldman Sachs CEO David Solomon also spoke about how the IPO activity in the US is now gaining momentum.
2 days ago
Last year, Hyatt Hotels Corporation decided to pause the complimentary breakfast at about 40 locations.
2 days ago
Many companies in the U.S. are now using enterprise AI systems that learn how an employee works.
2 days ago
Some Americans may see smaller refunds this year compared to the past few years.
2 days ago