Official Umar Johnson Thread

[TSCQ]

your better off opening a ice cream stand in Antarctica than opening up a bank with 250k.

 

[atlsfinest]

Not only does it take more than 250k to open a bank(if I misunderstood that, please correct me) and that generally a terrible idea. The risk is outta this world!

What Umar is describing isn't a bank. He's describing a lender. A fundamental part of a banking institution is being able to accept deposits.

What Umar is describing is just Lil Yachty lending people some money lol. No need to even use fancy terminology like "bank"

 

[Mark Antony]

Have they done it? Seems like they can both swing 250k. Any of them have banking expertise?

 

[fluid hips]

I take a couple issues with this approach:

1. I don't like the constant pocket watching and telling other people what to do with their money. Why doesn't Umar do this himself?

2. Instead of going to establish the business people, Umar is going to rappers, athletes and celebrities (many of whom aren't financially literate or educated themselves) and asking them to start businesses in industries they know nothing about. Where exactly did he think he was going to go by asking Lil yachty to open up a bank?

Mans doesn't realize the risk plus federal laws on discrimination in banking

 

[frshstunna]

I wouldn’t listen to anything Umar says financially until I see that school up and running

 

[Raji Lowenthal]

How come no athletes ever open insurance companies? Seems like the house always wins. AS's marketing budget is crazy...

 

[deuce king]

“Everybody can tell you how to do it…….THEY NEVER DID IT”

 

[IATT]

 

[IATT]

 

[wavycrocket]

 

[Mister Meaner]

 

[atlsfinest]

Great deep dive in Umar

 

[smedroc]