Wannabe business moguls suggest we should all outsource our work to countries where cheap labour is easily available. Sound familiar?
Did you miss out on getting rich quick via bitcoin? Don’t worry: TikTok’s legions of personal finance influencers have you covered with a cunning new moneymaking scheme called the Young Indian Method (Yim). The viral idea is this: you set up a business doing a service such as video editing or graphic design, but outsource all the work to India or somewhere else you can find cheap labour. Then you rake in massive profits off the back of exploited workers. Genius!
Now, before you dust off your pitchfork, I should note that it’s not clear whether every Yim evangelist is entirely serious. It seems that the concept was coined by an influencer as a joke – a satirical take on the way some American startup bros openly boast about how they maximise their profits by paying overseas workers as little as possible. And, obviously, it’s hardly just startup bros making a buck by exploiting cheap labour. That’s sort of the basis of capitalism.
