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I truly had no idea that so many industries could be on the brink of collapsing. All it would take, at times, would be for people to realize how unnecessary some of these industries truly are. And thus, enters the concept of “life coaches,” with some users even calling it a “sham.”
Surprisingly enough, according to The Coaching Academy, life coaching can allegedly be traced back to the 1980s, after Timothy Gallwey published a book describing his experience as a sports coach trying to incorporate more humanizing techniques into his work. A real-life Ted Lasso, if you will. But according to netizens, the seed he planted isn’t quite enough to make it a stable (or legit) job.
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Edit: The part that surprises me most is that people figured out that NFTs were worthless, but they're somehow still unaware that cyber money is just another scam. There's a reason why the bitcoin whales are dumping their portfolios while they can.
Some jobs that we probably wouldn't necessarily consider to be hanging by a thread, were some of the most popular replies, like health insurance — but the explanation did make sense. A user points out that if everyone were to cancel their policies, prices would immediately plummet. We see their point.
Then, we have the beauty industry. The main concern is on the fact that those who use skincare products might eventually realize that many of them “are carcinogenic.” The director of MD Anderson’s Integrative Medicine Program confirms this to a certain degree, warning that certain products may have formaldehyde or 1,4-dioxane, which are quite toxic to humans. Yikes.
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My father-in-law spent $27,000 TWENTY SEVEN THOUSAND!!! on a velvet lined, gold trimmed CASKET for my MIL- all in, the entire funeral, burial and service was almost $50,000.
My husband and I pre-paid for cremations 20 years ago. It was under $1k each, I think now it's around $1700.
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Tax prep is a big one, and the reasoning behind this industry possibly being on the rocks is none other than the possibility that Americans might just realize that in most countries, you don’t need to pay for this kind of service. Generally speaking, in plenty of countries, you can simply head on over to the dedicated association and fill in your tax return for free.
In fact, in some situations, you don’t need to file your taxes at all. Per experts at WTS Local, most European countries offer special tax regimes that will help those who need to manually manage their own taxes. Alternatively, in certain countries like Portugal or France, income tax is taken directly from your salary. Much easier.
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Megachurches (including Scientology) are also holding by a thread, due to their questionable beliefs and extreme methods. Many people believe that once followers realize how much money, time, and patience they’ve invested in these megachurches, the whole thing could come crashing down like a house of cards.
Additionally, funeral services are also finicky, often preying on the most vulnerable people who are hurting and grieving, wishing to honor their loved ones. Because of this, some companies can inflate prices as much as they want. A user even shared that they prepaid for cremations, which ended up costing only $1,000. A good yet morbid bargain.
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In reality the PE firm comes in and guts everything possible, personnel, amenities, perks, anything they can find so that the business doesn’t actually do anything better, they just have lower operating costs.
The lower operating costs leads to a reduce in quality of service and skilled workers. The PE firm uses up all profits that could be used to reinvest and essentially abandons the business other than to have a weekly meeting telling them whether they hit goals or not.
Now the business is worse off, the employees are miserable, the customers loathe the lower quality product and slowly the business does worse and worse until they sell.
Have seen this happen multiple times now, have never seen a private equity takeover make things look better for employees or customers.
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What shows the quintessential fragility of an industry is, in my opinion, the software industry. As a user pointed out, it’s not necessarily that people would realize what goes on behind the scenes that would cause it to collapse. Sometimes all it takes is a single developer to bring everything crumbling down.
On a similar note, NFTs are also a potentially unstable industry. For starters, have seen much of their initial hype plummet, although experts cited by Coindesk claim they have still allegedly remained popular among certain collectors. With that said, which industry would you add to this list? Or perhaps even remove? Let us know in the comments.
#16
Try removing steps from your routine, keep it minimal and stop over consuming. Each new thing you want to add to try will interact with the other ingredients that you put on.
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Companies complain about talent shortages while refusing to train anyone.