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Has LinkedIn Ruined Your Career?
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Has LinkedIn Ruined Your Career?

Understanding LinkedIn

In this video, the speaker talks about LinkedIn and its impact on careers. The speaker discusses how LinkedIn is different from other social media platforms and how it has become a valuable tool for companies to find potential employees.

What is LinkedIn?

  • LinkedIn is a social media platform that allows people to connect with others in their industry.
  • It was founded in 2006 and has become the ninth largest social media platform in the world.
  • LinkedIn is a digital marketplace for people, especially job seekers, where they can showcase their skills, experience, education, and employment history.

How does LinkedIn generate revenue?

  • LinkedIn generates revenue by creating a digital marketplace for people. It charges companies to post job listings and boost their visibility.
  • The average LinkedIn user is worth 76 times more than the average Reddit user, 35 times more than the average Pinterest user, four times as much as the average YouTube viewer, and three times as much as the average Facebook user.
  • LinkedIn achieves this by extracting revenue from its users at the highest rate per hour in the industry.

How does LinkedIn help companies find potential employees?

  • Companies can use LinkedIn to search for candidates based on criteria such as skills or experience.
  • A subscription to LinkedIn Recruiter costs $9,000 a year but offers hiring managers and third-party recruiters tools to search for candidates based on criteria reach out to them directly and advertise new roles.
  • Having these tools gives hiring managers power over potential applicants who aren't even actively looking for a job.

Why should you care about your online privacy?

  • Data brokers sell personal information to cold callers, junk mailers, and anyone else who would buy it.
  • Aura is a tool that finds data brokers that are putting your info out there and sends "leave me alone" messages for you. It also provides password management, dark web monitoring, antivirus protection, and VPN services.

Overall, LinkedIn is a valuable tool for job seekers and companies looking to find potential employees. However, users should be aware of the platform's revenue model and how their personal information is being used.

LinkedIn: The Strangest Social Media Platform

In this section, the speaker talks about LinkedIn and its unique features.

LinkedIn's Unusual Features

  • LinkedIn is a strange social media platform where people brag about working unpaid overtime and write appreciation posts to the company that just laid them off.
  • LinkedIn is like a weird cesspool of corporate culture that feels like corporate culture but from the perspective of high school in 2006.
  • LinkedIn is the ninth largest social media platform in the world with more monthly users than Twitter before both sites were acquired.
  • The average LinkedIn user is worth 76 times more than the average Reddit user, 35 times more than the average Pinterest user, four times as much as the average YouTube viewer, and three times as much as the average Facebook user.

How LinkedIn Generates Revenue

  • If you are using a service for free, you are the product. LinkedIn users are the most valuable product of them all.
  • LinkedIn extracts revenue from their users at the highest rate per hour in the industry by creating a digital marketplace for people.
  • Companies and recruiters can post job listings and boost their visibility by paying LinkedIn directly.
  • A subscription to LinkedIn Recruiter costs $9,000 a year but offers hiring managers and third-party recruiters tools to search for candidates based on criteria, reach out to them directly, and advertise new roles.

The Power Dynamic on LinkedIn

  • Having tools to reach out to potential applicants who aren't even actively looking for a job has given hiring managers a lot of power over employees.
  • Data brokers sell personal information to cold callers, junk mailers, and anyone else who would buy it. Aura is a service that finds these data brokers and sends "leave me alone" messages for you.

The Value of Company Values

In this section, the speaker talks about the importance of company values.

The Importance of Company Values

  • The speaker learned the value of if it's good for the company and its values while working at a company.
  • Hashtag proud to be unemployed: LinkedIn is a strange place where people talk at length about how great they are at their job to look enticing to potential future employers.
  • LinkedIn was founded in 2006 and was a strange concept but has worked for LinkedIn which is now the ninth largest social media platform in the world.
  • Elon Musk and a team of investors purchased Twitter for $44 billion in October 2022, beating LinkedIn's record from 2016 when it was taken private by Microsoft for $26.2 billion dollars.

How Company Values Affect Employees

  • The values learned while working at a company can affect an employee even after leaving that company.
  • Musk is often criticized for overpaying for Twitter when compared to LinkedIn. At the time of acquisition, LinkedIn had slightly more monthly users than Twitter but also had something that Twitter couldn't match.
  • When you ask for a raise and give your manager the ultimatum of quitting, they weigh up the expense of giving you a raise with the expense of replacing you.

Protecting Yourself on LinkedIn

The video discusses how LinkedIn can negatively impact your career by creating a culture of corporate worship, encouraging meaningless tokens to boost employability, and making it difficult to get negative feedback.

Problems with LinkedIn

  • Seeking meaningless tokens to boost employability leads to job hopping.
  • Corporate worship is encouraged since posts are not anonymous and people want to keep their jobs.
  • Companies push cringe-worthy corporate worship into the mainstream.
  • Not having a LinkedIn profile is seen as unprofessional in most professional industries.

Negative Impact on Career

  • Recruitment agencies specializing in tech and finance disqualify candidates without a LinkedIn account.
  • Ex-employees write appreciation posts about companies that just fired them, benefiting the company more than the laid-off employees.

Why Most People Will Work Until They Die

The video explains why most people will work until they die due to factors such as low wages, lack of retirement savings, and increasing life expectancy.

Factors Contributing to Working Until Death

  • Low wages make it difficult for people to save for retirement.
  • Lack of retirement savings means people have no choice but to continue working.
  • Increasing life expectancy means people need more money for retirement.
  • Automation and outsourcing lead to fewer job opportunities.

Solutions

  • Increase minimum wage so that workers can save for retirement.
  • Implement universal basic income to provide a safety net for those who cannot work.
  • Encourage companies to invest in their employees' retirement savings.
  • Increase taxes on the wealthy to fund social security and other retirement programs.
Video description

Find out how many times your information has been leaked on the dark web by trying my sponsor Aura for 14 days completely free: https://Aura.com/HowMoneyWorks Join my newsletter for daily updates and get every video a day early - https://www.compoundeddaily.com/ ----- Edited By: Andrew Gonzales Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images For sponsorship inquiries, please contact sponsors@worksmedia.group Sign up for my newsletter https://compoundeddaily.com 👈 All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind. #career #business #finance ----- LinkedIn is one of the strangest social media platforms in existence. Where else can you find people bragging about working unpaid overtime and writing appreciation posts to the companies that just laid them off? It’s a really weird website… But is it hurting your career? LinkedIn is a strange place where people talk at length about how great they are at their job to look enticing to potential future employers. In 2006 when the company was founded it was a strange concept, but it has worked for LinkedIn which is now the ninth largest social media platform in the world. It had more monthly users than twitter before both sites were acquired. Elon Musk and a team of investors purchased twitter for forty four BILLION dollars in October twenty-twenty-two, a record sum for a social media company being taken private. Musk’s controversial purchase beat LinkedIn’s record from 2016 when it was taken private by Microsoft from twenty-six point two billion dollars. Musk is often criticized for overpaying for twitter when LinkedIn is the comparison. At the time of acquisition LinkedIn had slightly more monthly users than Twitter but it also had something that the blue bird just couldn’t match. Every time you log into LinkedIn you are giving Microsoft something unmatched by every other social network in existence, value. If you are using a service for free YOU are the product and LinkedIn users are the most valuable product of them all. LinkedIn generated revenues of thirteen point eight billion dollars in 2022 which is two and a half times higher than twitters highest year of revenue ever. We don’t have public figures on it now since it is a private company but most analyst expect that twitters revenues are down since Musk’s acquisition. The average LinkedIn user is worth seventy six times more than the average reddit user, thirty five times more than the average Pinterest user, four times as much as the average YouTube viewer and three times as much as the average Facebook user. Additionally, a site like YouTube is much more expensive to operate than LinkedIn given the inherent difference in cost of hosting HD video and hosting content that is just text and pictures. LinkedIn is able to extract revenue from their users at the highest rate per hour in the industry, and when YOU are the Product that value is coming from YOU. LinkedIn achieves this in four ways. The first is by creating a digital marketplace for people. LinkedIn is the biggest job search site in the world, companies and recruiters can post job listing and boost their visibility by paying LinkedIn directly. When you apply for a job through LinkedIn the employer gets your skills, experience, education and employment history on display in a consistent format which is a big advantage over normal job search sites like indeed. This information should be on your resume, but the standardized way that LinkedIn presents it let’s recruiters automate their candidate searches far more easily. A subscription to LinkedIn Recruiter costs nine thousand dollars a year but it offers hiring managers and third-party recruiters a range of tools to search for candidates based on criteria, reach out to them directly and advertise new roles. It’s a small price to pay for most companies because what they get in return in a buffet of potential applicants for their jobs. When you ask for a raise and give your manager the ultimatum of quitting, they weight up the expense of giving you a raise with the expense of replacing you. Finding qualified candidates used to be much harder than it is today, but now if you quit they are just a few keywords away from finding a perfect replacement from the largest collection of career focused people in the world. Hiring managers would not pay nine thousand dollars a year for tools that didn’t provide a return on investment. Having the tools to reach out to potential applicants that aren’t even actively looking for a job has given hiring managers a lot of power over you. And that’s just the first reason, so it’s time to learn How Money Works to find out how LinkedIn has ruined your career.