We saw wads of cash, teenagers pulling out wads of cash in $100 increments, all while talking about their English homework that was due tomorrow and how their computer teacher's "Tumblr" was weird that they all had came up upon. We talked to a few TikTok stars, ChanelBags4U and PizzaReviewerX. These two are definitely not feeling the squeeze and they do what they love, eat pizza and buy expensive handbags.
Some TikTok stars are helping their parents pay their mortgage. On average according to the US Census Bureau, 19% of households had at least one teenager making $200,000 or more a year helping with the mortgage on the property in question, in particular these are properties with a 3.1% interest rate.
You may hear people from the WWII era say how hard they had it, but they had a path to get a house, cars, kids, etc. It seems today there's no real path carved out for anyone and it's even hard to carve out your own path. Causing a lot of people in the workforce specifically Millennials and Gen Z to be a lot more anxious than last generations.
Among those not feeling anxiety or the economic squeeze, are two TikTok celebrities we caught up with "ChanelBags4U" and "PizzaReviewerX". Between the two of them they make over $200,000/mo. So why would they care about the current squeeze that's happening in real life.
15 year old TikTok star ChanelBags4U regularly nets $75,000 per month. You can see how it would be hard for a teenager with a seemingly unlimited piggy bank would ask these types of questions. It's not just ChanelBags4U though, 16 year old TikTok star PizzaReviewerX who reviews various pizzas around New Rochelle, NY rakes in about $120,000 per month. PizzaReviewerX wasn't even sure what the word recession meant as he talked with us from his tinted Enzo Ferrari.
We headed to Paul Smith, the famous pink wall on Melrose. We were bound to find a influencer or two there we thought.
We drove south to Melrose, and found a film crew there. We spoke to everyone there. They were all teenagers starting a company called "TikTokEffectz, LLC". The owner Brian O' Halloran said he's already a millionaire at the age of seventeen as he pointed over to his G-Wagon.
We stuck around for awhile and see what Brian did, he filmed and then took the film and put it in iMovie and used the default effects that came with iMovie.
We asked Brian what he thought about the recession and he said "I don't really like that show, that's on HBO right?" We assume he was talking about the T.V. show "Succession", that is in fact on HBO.
I guess all isn't bad in the United States. If you talk to this ratpack of kids that are making as Jim Cramer would say "Mad Money" making clips on TikTok, the world is their oyster, and if you're their parent, you have to make sure they're in bed by 9PM so they don't miss that final.