Do Somalis have good business acumen

[johnsepei5]

I don’t think they do
This so called business acumen is never applied inside Somalia or in the west

where in the west ,Somalis are usually the lowe class, lower than working class

they don’t build manufacturing plants

instead they resell Chinese and Turkish manufactured products

this acumen and talent is over exaggerated

Turkey and china by manufacturing are at the same time providing jobs while alsoproducts

Puntland is the only region in Somalia that’s slowly changing this,I believe without a doubt they have the most factories

Puntland manufactures their own fishing boats,paper,food products ,baby products and construction material.

 

[Ashraf]

I don’t think they do
This so called business acumen is never applied inside Somalia or in the west

where in the west ,Somalis are usually the lowe class, lower than working class

they don’t build manufacturing plants

instead they resell Chinese and Turkish manufactured products

this acumen and talent is over exaggerated

Turkey and china by manufacturing are at the same time providing jobs while alsoproducts

Puntland is the only region in Somalia that’s slowly changing this,I believe without a doubt they have the most factories

Puntland manufactures their own fishing boats,paper,food products ,baby products and construction material.

How did you know I was majerteen? Ahhhhh post

 

[berberaboy66]

It’s because reer PL do overtime shifts in the development thread. As they should

 

[Chaseyourdreamzz]

we are probably the best in east africa when it comes to business acumen I’ve seen it first hand

 

[Zak12]

Most Somalis in the west are refugees and uneducated. Somalis in Africa and the Middle East do well

 

[Dagdag]

Xamar has close to 3 million people . It has most factories businesses and wealth

Business acumen can mean many different things. Somalis do mostly invest in hotels, buying and selling of products. It’s easy and doesn’t require crazy capital

Manufacturing lacks in all of Africa because of poor roads, electricity , and banking systems. The scale to open shop vs manufacturing plant is not same. America many times gives billions to anyone who opens plants and creates jobs in country. Africa there is no such support

FACT SHEET: President Biden Announces up to $6.1 Billion Preliminary Agreement with Micron under the CHIPS and Science Act | The White House

Funding unleashes $125 billion in private investment from Micron to build leading-edge memory semiconductor and create more than 20,000 direct jobs.

www.whitehouse.gov

 

[Malab]

No they don’t they are well known scammers. Also I’m not coming for your tribe but I had a marjeteen manager who used to scam autistic kids families I only knew his tribe because his sisters bragged about it. They make good money but it’d haram money. Somalis are all scammers regardless of tribe or region.

 

[johnsepei5]

Most Somalis in the west are refugees and uneducated. Somalis in Africa and the Middle East do well

Middle East how so?

 

[Kisame]

I don’t think they do
This so called business acumen is never applied inside Somalia or in the west

where in the west ,Somalis are usually the lowe class, lower than working class

they don’t build manufacturing plants

instead they resell Chinese and Turkish manufactured products

this acumen and talent is over exaggerated

Turkey and china by manufacturing are at the same time providing jobs while alsoproducts

Puntland is the only region in Somalia that’s slowly changing this,I believe without a doubt they have the most factories

Puntland manufactures their own fishing boats,paper,food products ,baby products and construction material.

Tbh I never really cared for this. Simply because every ethnic group has successful business men. I never believed this was a unique thing for somalis.


In the states the only successful somali business men I know are old men that own small trucking companies. Props to them but this isn't anything special since a lot of ajnabis have their own trucking businesses.

 

[Afeik_Abiy]

No they don’t they are well known scammers. Also I’m not coming for your tribe but I had a marjeteen manager who used to scam autistic kids families I only knew his tribe because his sisters bragged about it. They make good money but it’d haram money. Somalis are all scammers regardless of tribe or region.

Not beating the allegations

 

[Kisame]

Since we're on the the topic of business and finance.

Lads @Chaseyourdreamzz @Keep it a boqol @johnsepei5 @Zak12 @AbdiFreedom

Back in like 2021-2022 during the crypto hype I joined some somali crypto and trading group chats. I even hopped into a few club houses room to listen to convos about stocks.

During that entire time period I never met a single Somali nigga that was studying an accounting, or finance degree. Never met a nigga that was getting an MBA or had any plans of becoming an investment banker.

I just genuinely met a bunch of niggas that believed they would get rich from just trading . I was honestly bothered by this that whole year. I literally met niggas that dropped out of school for a short period of time to go all in one trading. I even met niggas that were dropping out to go all in on e- commerce businesses.

What's even more crazy is the fact that the only Somali guy I know irl completed an accounting degree gave no fucks about trading, crypto, or e-commerce.

I doubt most of those guys were making 50k+ from trading stocks, crypto or from their eccomerce businesses. Getting a degree in accounting would have been the quickest pathway to make money for most of these guys.

 

[AbrahamFreedom]

Since we're on the the topic of business and finance.

Lads @Chaseyourdreamzz @Keep it a boqol @johnsepei5 @Zak12 @AbdiFreedom

Back in like 2021-2022 during the crypto hype I joined some somali crypto and trading group chars. I even hopped into a few club houses room to listen to convos about stocks.

During that entire time period I never met a single Somali nigga that was studying an accounting, or finance degree. Never met a nigga that was getting an MBA or had any plans of becoming an investment banker.

I just genuinely met a bunch of niggas that believed they would get rich from just trading . I was honestly bothered by this that whole year. I literally met niggas that dropped out of school for a short period of time to go all in one trading. I even met niggas that were dropping out to go all in on e- commerce businesses.

What's even more crazy is the fact that the only Somali guy I know irl completed an accounting degree gave no fucks about trading, crypto, or e-commerce.

I doubt most of those guys were making 50k+ from trading stocks, crypto or from their eccomerce businesses. Getting a degree in accounting would have been the quickest pathway to make money for most of these guys.

Way before trading, Somali guys your age were into Vector Marketing, a pyramid scheme. I forgot what they were selling but they had some talking points about how it's such a great company, I would get rich and that I should join. I told one guy in my class to cut they crap and asked how much he was getting to get me to sign up. He then begged me to sign up so he could at least work towards paying back what he was given to sell and be even.

They're terrible when it comes to making money.

 

[Dagdag]

Since we're on the the topic of business and finance.

Lads @Chaseyourdreamzz @Keep it a boqol @johnsepei5 @Zak12 @AbdiFreedom

Back in like 2021-2022 during the crypto hype I joined some somali crypto and trading group chats. I even hopped into a few club houses room to listen to convos about stocks.

During that entire time period I never met a single Somali nigga that was studying an accounting, or finance degree. Never met a nigga that was getting an MBA or had any plans of becoming an investment banker.

I just genuinely met a bunch of niggas that believed they would get rich from just trading . I was honestly bothered by this that whole year. I literally met niggas that dropped out of school for a short period of time to go all in one trading. I even met niggas that were dropping out to go all in on e- commerce businesses.

What's even more crazy is the fact that the only Somali guy I know irl completed an accounting degree gave no fucks about trading, crypto, or e-commerce.

I doubt most of those guys were making 50k+ from trading stocks, crypto or from their eccomerce businesses. Getting a degree in accounting would have been the quickest pathway to make money for most of these guys.

Slow and steady wins race good thing you realize this. Even PhD holders from Harvard with inside information and fastest computes that executes trades in milliseconds struggle to beat markets over 10 year period. It’s always best to invest in mutations funds to beat inflation and grow your wealth through steady gains.

Easiest way to make money is get in demand degree and learn good skill. Work for 10-15 years then start business and you will be on your way to wealth. It’s long process with sweat and tears but only way to get rich. The guys you mentioned are doing glorified gambling tbh hoping to get rich when math shows you will lose money day trading or doing speculative trading

 

[Dagdag]

The math so obvious but random guy trading from home with couple thousand still thinks he will be the one lol

Warren Buffett once bet $1M that he could beat a group of fancy hedge funds over 10 years — and he crushed them with a technique requiring absolutely no investing skill. Here's what he did

Buffett's method delivered 125% in returns over the decade.

finance.yahoo.com

 

[Bille]

That's why they say: " a sucker is born every minute"

 

[Wonder]

Since we're on the the topic of business and finance.

Lads @Chaseyourdreamzz @Keep it a boqol @johnsepei5 @Zak12 @AbdiFreedom

Back in like 2021-2022 during the crypto hype I joined some somali crypto and trading group chats. I even hopped into a few club houses room to listen to convos about stocks.

During that entire time period I never met a single Somali nigga that was studying an accounting, or finance degree. Never met a nigga that was getting an MBA or had any plans of becoming an investment banker.

I just genuinely met a bunch of niggas that believed they would get rich from just trading . I was honestly bothered by this that whole year. I literally met niggas that dropped out of school for a short period of time to go all in one trading. I even met niggas that were dropping out to go all in on e- commerce businesses.

What's even more crazy is the fact that the only Somali guy I know irl completed an accounting degree gave no fucks about trading, crypto, or e-commerce.

I doubt most of those guys were making 50k+ from trading stocks, crypto or from their eccomerce businesses. Getting a degree in accounting would have been the quickest pathway to make money for most of these guys.

You'll make significantly more money over your life casually putting your savings into some average EFT that tracks the S&P 500 then whatever crypto stock these guys are convinced will skyrocket in value. The sad reality is that most people don't want to make consistent gains year over year but rather want to become a millionaire over night which is why they waste their money on these investment scams.