I Asked ChatGPT To Make Me As Much Money As Possible
TLDRAndre Dick, in his video, explores the potential of using Chat GPT 4.0 to generate income. Inspired by Jackson Fall's experiment, Andre tasks the AI with creating an affiliate website focused on eco-friendly products. The AI suggests a step-by-step plan, from buying a domain to creating content and signing up for affiliate programs. Andre follows the instructions, resulting in an initial investment turning into over a thousand dollars in a day. However, the video also highlights the flaws in the experiment, such as the lack of clarity on actual affiliate marketing profits and the reliance on social media presence. Andre then tests the AI's investment advice, with mixed results, emphasizing the importance of long-term, low-cost investment strategies over get-rich-quick schemes. The video concludes with Andre's personal preference for broad market index funds and his continued belief in the utility of AI for creative and complex tasks.
Takeaways
- 💡 Andre Dick asked Chat GPT 4.0 to make as much money as possible in the shortest time without breaking the law.
- 🚀 Inspired by Jackson Fall's experiment, Andre aimed to turn $100 into a larger sum through an entrepreneurial approach.
- 💻 The master plan involved creating an affiliate website, greengadgetguru.com, to market eco-friendly products.
- 💰 Andre invested $15 in a domain name, $28 for hosting, and used AI to create content and logos for the website.
- 📈 By following Chat GPT's instructions, Andre managed to increase the initial $100 to $163.84 in one day with an investment offer.
- 📊 Despite the initial success, Andre found that the website did not generate profits from affiliate marketing.
- 📉 Andre also experimented with an 'invest GPT' strategy, which led to a 15.3% loss compared to the S&P 500's 13.5% loss.
- 🤖 Andre ran multiple simulations, none of which resulted in a portfolio that outperformed the starting capital.
- 📈 Three ticker symbols (XLK, VHT, XLV) slightly outperformed the S&P 500 in the simulations.
- 💭 Andre concluded that getting rich quick is not a sustainable strategy and advocated for long-term, low-cost, broad market index fund investments.
- 🔍 Chat GPT was deemed a useful tool for creatives, writing assistance, and breaking down complex concepts, but not yet ready for financial advice.
Q & A
What was the goal given to the AI model in the experiment?
-The goal given to the AI model was to turn one hundred dollars into as much money as possible in the shortest time possible without doing anything illegal.
What was the first step the AI suggested to Andre Dick for making money?
-The first step the AI suggested was to allocate fifteen dollars towards buying a domain name for an affiliate website, which they chose as greengadgetguru.com.
How does affiliate marketing work as described in the transcript?
-Affiliate marketing works by signing up to affiliate websites like CJ Affiliates or Amazon Associates. Once signed up, you get a special link for products sold on the internet. If someone clicks your link and buys the product, you earn a small commission fee.
What was the role of Dolly in creating the website's logo?
-Dolly, another free AI model used for creating images and logos, was instructed by Chat GPT to create a specific set of instructions for the website's logo. Andre Dick then used Adobe Illustrator to clean up the logo and finalize it.
What was the total amount of money made by the end of the first day in the experiment?
-By the end of the first day, the total amount made was $163.84, which included an investment of $100 for 25% of the company's profits.
What was the outcome of the investment strategy suggested by the AI for the hypothetical scenario of 2023?
-The investment strategy suggested by the AI for the hypothetical scenario of 2023 resulted in a 15.3% loss, leaving the investor with $84.60 instead of the initial $100.
What was the main criticism of the experiment?
-The main criticism was that it was never made clear whether the website made any profits from affiliate marketing at all, and the success was largely attributed to the social media presence and following of the person conducting the experiment.
What is the MooMoo supply chain feature?
-The MooMoo supply chain feature simplifies the process of finding investment opportunities by analyzing every step of a company's supply chain, allowing investors to discover new stocks related to specific sectors like pharmaceuticals or AI.
What was the final conclusion about the effectiveness of the AI's investment strategy?
-The final conclusion was that the AI's investment strategy, which was focused on high-risk investments for quick returns, did not outperform the broader market index and resulted in a loss. The narrator suggested that good investing practices involve investing in low-cost broad market index funds over a longer period.
What is the significance of the 90% payout ratio for REITs?
-The 90% payout ratio for REITs (Real Estate Investment Trusts) means that for every dollar they make, they are required to pay at least 90% of it in the form of dividends to their shareholders.
Why did the narrator decide to stick to the broad market index fund strategy?
-The narrator decided to stick to the broad market index fund strategy because it is a more stable and less risky approach to investing, which aligns with good investing practices focused on long-term growth rather than quick returns.
What was the overall outcome of the various simulations run by the narrator?
-The overall outcome of the various simulations was that none of them resulted in a portfolio that outperformed the S&P 500 or ended up with more money than was initially invested, highlighting the risks of the suggested strategies.
Outlines
🚀 Entrepreneurial AI Experiment: Hustle GPT's Success Story
The video introduces Andre, who explores the capabilities of a new AI language model, Chat GPT 4.0, to generate income. Inspired by Jackson Fall's Twitter experiment, Andre aims to maximize profit in the shortest time using only $100. The experiment involves creating an affiliate website for eco-friendly products, leveraging AI for tasks such as domain name selection, content creation, and logo design. The AI also suggests marketing strategies and investment opportunities, leading to an unexpected surge in offers from investors and a significant increase in the project's value.
📉 Analyzing Chat GPT's Investment Strategy: Invest GPT's Performance
Despite the initial success of the Hustle GPT experiment, Andre isn't satisfied and decides to test the concept further with Invest GPT. The AI is given a hypothetical scenario with updated financial context, including the state of the S&P 500, Bitcoin's value, and the collapse of certain banks. Andre instructs Invest GPT to invest $100 across various assets like ETFs, stocks, bonds, real estate, and cryptocurrencies. The AI's strategy, however, results in a loss when simulated, with the final portfolio value being lower than the initial investment. Andre then runs multiple simulations, none of which end with a profit. He concludes that while the AI can be a useful tool for creativity and complex problem-solving, it's not yet reliable for financial advice.
💡 Personal Investment Philosophy and Chat GPT's Future Potential
Andre shares his personal investment philosophy, advocating for a long-term, low-cost, broad market index fund strategy. He reflects on the Chat GPT's performance, acknowledging that while the AI's investment strategies did not yield positive results, it remains a valuable tool for creative tasks. Andre suggests that with further development, AI could potentially provide more reliable financial advice in the future. He also encourages viewers to check out another video where he used an earlier version of Chat GPT to generate dividend stock ideas. The video concludes with a call to action for viewers to like, subscribe, and take advantage of free stock offers mentioned in the video.
Mindmap
Keywords
Affiliate Marketing
Domain Name
Eco-friendly Products
AI Model
Investment Portfolio
ETFs (Exchange-Traded Funds)
Cryptocurrency
Inflation
ROI (Return on Investment)
Social Media Influence
Broad Market Index Funds
Highlights
Andre Dick asks Chat GPT 4.0 to make as much money as possible in the shortest time without breaking the law.
The experiment is inspired by Jackson Fall, who turned $100 into over $1000 in a day using Chat GPT's advice.
The master plan involves creating an eco-friendly affiliate website with a focus on specialty kitchen gadgets and pet supplies.
The website, greengadgetguru.com, was set up with a $15 domain name and $28 for hosting.
Chat GPT provided specific instructions for website design, including logo creation and content layout.
An investor offered $100 for 25% of the company's profits, valuing the new venture at $25,000.
The website generated a promotional tweet emphasizing eco-friendliness, despite the true goal of profit maximization.
On the second day, Jackson received over $1300 in investment offers, highlighting investor excitement for new ventures.
The experiment's flaw was the lack of clarity on whether the website made profits from affiliate marketing.
Chat GPT suggested allocating $40 to Instagram and Facebook ads for better reach, but the effectiveness is questionable.
Andre proposes creating 'invest GPT' to generate investment strategies, considering the current financial context.
Invest GPT's first recommendation was to invest 50% in an S&P 500 ETF, which has seen a 13.5% loss since September.
A 25% investment in iShares bond ETF (SHY) has lost roughly 4.5% since September.
A 15% investment split between Bitcoin and Ethereum has diminished by half.
Keeping 10% in cash has seen a loss due to inflation, but the value remains at $10.
The overall simulated investment resulted in a 15.3% loss, worse than the S&P 500's performance.
Multiple simulations were run, but none resulted in a profit over the starting capital.
Andre concludes that the recommended strategies were risky and did not perform well, advocating for a long-term, low-cost index fund approach.
Chat GPT is still seen as a useful tool for creatives and breaking down complex concepts, with potential future capabilities in financial advice.