Ramit Sethi, Author Of “I Will Teach You To Be Rich,” Leverages Bitcoin Crash For Personal Success
Ramit Sethi, Author Of “I Will Teach You To Be Rich,” Takes Advantage Of Bitcoin Crash For Personal Success
Business Insider was recently the home of a new article that seems to be looking for a way to kick Bitcoin investors while they are down. The article, “I Will Teach You to Be Rich,” is by Ramit Sethi, and he uses the crash of the Bitcoin price to advertise his theory of “right attitude, right results.” As the article continues, it is clear that Sethi has a narrow-minded view of Bitcoin performance, further alleging that the investors who believe in it are delusional.
The NewsBTC writer that reviewed this article is deeply familiar with Sethi, noting that he has been on his email list that has been flooded daily with self-help advice. Ultimately, the writer blocked the emails, but his current presence in the Bitcoin market has brought up much of this contention.
One of the most recent articles, “The crypto investors who hang on as Bitcoin plunges are the perfect example of a problematic mindset that keeps people from building wealth,” is reminiscent of those emails.
Sethi seems to start with an attack on Bitcoin investors with a subtle jab in the form of a question – “Have you ever seen someone double down on something even when confronted with evidence that they were wrong?” It seems that the self-helper is focusing on only the most recent performance of the market, not considering the patterns that it has gone through in the last ten years.
NewsBTC brings up an important group to consider – the investors that have been in the market long enough to see both bullish and bearish patterns. This kind of “evidence” (at best) does not work for their situations and are quite different from the image that Sethi paints of the market.
Instead of taking a “logical” stance on the cryptocurrency market, Sethi’s focus appears to be on the history of prices, not considering the situations that caused those fluctuations. He assumes that the investors that have had the biggest struggles are willing to “hang on,” completely ignoring the various features of Bitcoin. He also seems to ignore the way that infrastructure is constantly evolving, or the institutional investors that are looking to get in while the market is low.
Next, Sethi goes after the pride of Bitcoin investors, assuming that they are too stubborn to see that they are on a sinking ship, and that admitting they were “wrong,” as if it is the only choice, is out of their ability. However, soon after, it is clear what Sethi has been doing the entire time – directing blind followers to pay for his courses and rhetoric. As much as he bashes Bitcoin for their lies to the public, he turns around and totes his own information as a magical solution.
“The whole piece is just a shill for his own business. Nice work, Business Insider. The journalistic integrity is really running strong in this one.”