Stop data brokers from exposing your personal information. Go to my sponsor
https://aura.com/austinwilliams to get a 14-day free trial and see how much of yours is being
sold.



Support My Channel!: https://www.buymeacoffee.com/williamsauQ
My $15 Phone Plan: https://mint-mobile.58dp.net/rn6rJQ
My 4.6% APY Savings Account: https://www.sofi.com/invite/money?gcp...

My Favorite Personal Finance Books

Your Money or Your Life: https://amzn.to/3VExSUV
The Simple Path to Wealth: https://amzn.to/3RODWJp
Die With Zero: https://amzn.to/4bjwQ6D

Chapters

00:00 Start Here
00:54 Dynamic Pricing Models
02:01 Planned Obsolescence
05:05 Unrepairable Products
05:56 Closed Ecosystems
07:01 Third Party Transaction Fees
08:05 Credit Card Transaction Fees
09:10 Tipflation
10:20 Scattered Closed Subscriptions
11:22 Cloud Services
12:30 Mandatory Participation



Big Tech companies have so much influence in society that it affects how we live our lives and how we spend our money to the point where Big Tech will force us to waste money. In this video, I share 10 things that Big Tech forces you to waste your money on.

1. Dynamic Pricing Models

Dynamic pricing is a pricing strategy where prices will fluctuate in real time due to real time factors. This model is very common when buying a plane ticket or getting an Uber where the price will change multiple times throughout the day. Dynamic pricing is becoming increasingly popular in more industries as there is more digital products and more data, which causes us to waste money so companies can maximize their profits.

2. Planned Obsolescence

Planned obsolescence is when a company will make their product in a way where it needs to be replaced. A famous example of this happened in 2017 in a scandal with Apple called, "Batterygate." Apple gave an update to their old iPhones where it slowed down the phone to encourage users to waste the money to buy the newest version.

3. Unrepairable Products

Tech companies are famous for designing their products in ways where they cannot be repaired. The reason they do this is so they can get you to buy a completely new product instead of paying less to get a specific part replaced.

4. Closed Ecosystems

Apple is famous for their closed ecosystem where when you own an Apple product, you are bound to their ecosystem and cannot leave it. They do this so that you have to continually buy their products no matter how high they price their stuff at.

5. Third Party Transaction Fees

Nowadays, in order to process a transaction, there has to be some third party involved. For example, when you buy a concert ticket now, you have to go through Ticketmaster and pay a high transaction fee in order to get the ticket. Tech companies are trying to process all transactions now so that they can receive a fee for everything.

6. Credit Card Transaction Fees

Another transaction fee that has become very normal in today's world is the fee that credit card companies like Visa and MasterCard charge in order to process the transaction, which is usually 2% of the total sale. This causes the price of everything to increase by 2%, which makes us waste hundreds of dollars a year to pay fees.

7. Tipflation

A recent industry Big Tech has taken over is the service industry where now all cash registers are tablets. These tablet cash registers will always ask if you would like to tip even if it's a service where tipping is not normal. This has caused people's bills to increase by 20% due to tipflation.

8. Scattered Closed Subscriptions

Big Tech does not want you to own anything, but they would rather you subscribe to everything so that you can pay a recurring fee month after month. Overtime, subscription services are becoming more competitive where in order to watch a certain show you have to subscribe to the platform. This is causing shows to be scattered across platforms, which forces us to waste more to use multiple platforms.

9. Cloud Services

One big change I think will occur in the next 10 years or so is the transition from storing our stuff on our own computers to storing them on cloud services. This will be another monthly fee that will increase your cost of living.

10. Mandatory Participation

Big Tech has so much influence in the world now that we are forced to participate and play by their rules. This makes life more expensive as we constantly have to keep up with the new things they're creating.

**Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **