Social Media Impact on Wealth Accumulation

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In this paper, I argue that social media has become a leading source of unrealistic perceptions of wealth in the 21^st century. More specifically, the prevalence of the “hustle culture” principles in the current information space prompts people to redefine their understanding of optimal income strategies. The supporters of these ideas claim that the global capitalist economy provides immense opportunities in terms of personal income. Furthermore, when it is complemented by technology and hard work, entrepreneurship and freelancing often lead to the rapid growth of wealth. These claims are often supported by the examples of prominent personalities who became rich in a short period. Nevertheless, the hustle culture tends to describe the aforementioned success path as a guaranteed outcome rather than one of the possibilities, disregarding the secondary factors involved in the process. As a result, people’s work behavior undergoes major transformations, often having a negative impact on their lives.

Social media has become a major instrument through which ideas are spread among millions of people. Among the various ideas transmitted through the prism of social network platforms, the hustle culture is among the most prominent. In its general understanding, this idea suggests that today’s world is full of immense opportunities in terms of personal income and wealth accumulation (Balkeran, 2020). However, in order to seize these opportunities, an individual is expected to venture beyond the traditional understanding of work and career. Overall, hustle culture proponents actively support the ideas of private entrepreneurship and freelancing as quick routes towards colossal wealth.

This paper argues that the prevailing status of the hustling principles in the online space has nurtured unrealistic perceptions of work and success within the population. As such, social media users are prompted to believe that overworking is an indispensable determinant of wealth in the current environment. In other words, people are pushed to work beyond normal limits, thus becoming subject to excessive pressure and stress (Clark et al., 2020). Furthermore, the tone of the hustling philosophy implies that wealth and improved quality of life is the guaranteed outcome of such activities. As a result, people who work more without tangible returns in the short term feel frustrated and insecure. In addition, the glamorization of self-employment leads to a greater number of individuals who quit their careers in pursuit of quick profits. In this way, the hustle culture disregards the drawbacks and high chances of failure within these sectors, leaving people on a lower level as compared to their starting point.

On the other hand, the proponents of the hustle culture argue that they do not attempt to force others to pursue a similar lifestyle. They refer to these ideas as a mere set of recommendations and a viable alternative to traditional income (Hessels et al., 2017). Nevertheless, the way in which hustle culture principles are presented in social media makes it appear as the “correct option” in the 21^st century. Consequently, those who opt for a different variant are prompted to feel unsatisfied and incomplete (Chae, 2017). At the same time, the hustle culture often relies on prominent success stories of individuals who accumulated their wealth in a rapid manner (Montañés-Del-Río & Medina-Garrido, 2020). While such examples do indeed exist, they cannot be deemed representative of the whole population. Instead, there is often an array of secondary factors behind each success story, and the set of variables is different for each individual. Ultimately, the spread of the hustle culture online has had a major, predominantly negative impact on the well-being of many residents.

The issue of workaholism and overachieving has become topical today. The adverse effect of this problem is caused by the unrealistic expectations with which it is associated. More specifically, people inspired by the glamorized image on social media may develop certain unhealthy expectations in regard to their own lifestyle and income levels (Chae, 2017). Consequently, those who are susceptible to the hustle culture engage in extended work-related activities and even reconsider their entire careers. This paper relies on academic research, exploring the issue from both perspectives in an attempt to highlight the non-universal nature of the discussed philosophy. In other words, hustling is not suitable for any person, despite the way in which it is presented on social media. Providing an informed view of the matter at hand is important, as it currently leads to major negative trends within our modern society.

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