If you’re in the world of finance, you’d know today’s guest from YouTube — but you’ve probably never heard his real name. However, today and for the first time, he chooses to associate his actual identity with his YouTube channel! It’s an honour to introduce to you, Mr. How Money Works himself, Darin Soat. On his YouTube channel, Darin combines captivating storytelling with high-quality, sensible information that helps you to make better financial decisions. Today, he joins us to explain How Money Works, why he chose to create his channel anonymously, and how he feels after his grand reveal. He describes how his channel informed his career as an investment banker, and gives us his insider breakdown of how influencer businesses work. Then, we dive deep into YouTube as we explore the problems with today’s financial influencers (finfluencers), how these problems are carried through to the crypto market, why it’s rare to find high-quality financial information on YouTube, and everything you need to know about the gamification of investing, creating passive income, and the ins and outs of investing from the perspective of one of YouTube’s top finfluencers, Darin Soat!

Timestamps:

0:00:00 Intro
0:05:34 Darin describes his main YouTube channel, How Money Works
0:09:04 Darin talks about his past in investment banking
0:16:45 Why the channel was created anonymously
0:19:21 How your channel impacted Darin's work while he was still in investment banking
0:22:325 How influencer businesses work
0:27:54 The problems Darin sees with personal finance influencers on YouTube
0:35:54 How the problems interact with crypto
0:42:37 How Darin decides which sponsorships to take
0:48:29 What people need to understand about side hustles and passive income
0:53:22 The problems that access to seemingly smart and successful people through social media cause for investors
1:02:41 How the think the gamification of investing has affected investors
1:08:10 The main points Darin believes people need to understand about investing
1:10:25 Darin defines success in his life

Links From Today’s Episode:

Darin Soat on X —   / darinsoat  
How Money Works —    / @howmoneyworks  
How Money Works on X —   / howmoneyworksyt  
Compounded Daily — https://www.compoundeddaily.com/
How History Works —    / @howhistoryworks  
Google AdSense — https://adsense.google.com/start/
The Index Card — https://www.amazon.com/Index-Card-Per...
Dumb Money — https://www.imdb.com/title/tt13957560/
MrBeast on YouTube —    / @mrbeast  
Patrick Boyle on YouTube —    / @pboyle  
‘Reasons to Avoid Index Funds’ —    • Reasons to Avoid Index Funds  
Robinhood Crypto — https://robinhood.com/us/en/about/cry...
Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/t....
Rational Reminder Website — https://rationalreminder.ca/
Rational Reminder on Instagram —   / rationalreminder  
Rational Reminder on X —   / rationalremind  
Rational Reminder on YouTube —    / channel  
Rational Reminder Email — [email protected]
Benjamin Felix — https://www.pwlcapital.com/author/ben...
Benjamin on X —   / benjaminwfelix  
Benjamin on LinkedIn —   / benjaminwfelix  
Cameron Passmore — https://www.pwlcapital.com/profile/ca...
Cameron on X —   / cameronpassmore  
Cameron on LinkedIn —   / cameronpassmore  

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