Daymond John: Invest in Trades Amid Job Uncertainty

In today’s rapidly evolving economic landscape, “Shark Tank” star Daymond John is sounding the alarm: many jobs are likely to disappear. But he’s not just predicting doom and gloom; John is offering practical advice for families looking to navigate these uncertain times and secure their financial future.

The Value of Higher Education vs. Trades

John, who built his FUBU empire without a college degree but acknowledges that most of his employees come from higher education, sees the merit in traditional schooling. He notes how college internships can provide invaluable experience and lead to hiring opportunities. However, he strongly emphasizes the growing importance of vocational trades in the current economy.

“The trade business is going to rise,” John stated during a recent interview. “Invest in that education if you can.” With many companies, including Verizon, Meta, and Amazon, announcing significant job cuts—some driven by advancements in AI—the job market is becoming increasingly unpredictable. This shift makes pursuing education in skilled trades a potentially more stable and in-demand path.

Navigating Economic Uncertainty as a Family

John advises families to adopt a holistic approach when considering their financial future. He raises a critical question about the mounting student loan debt many young people are accumulating for degrees that may not lead to viable job opportunities. “How are children today in high school and college, how are they taking [$400,000] to $600,000 worth of student debt for a job that’s not going to actually exist in another year or so?” he pondered.

He encourages families to look at their finances comprehensively, considering where their money is going and exploring long-term assets. This includes looking into bonds, cryptocurrency, and blue-chip stocks, suggesting that “cash is trash” in the current climate. The key is to be proactive and informed about investment opportunities.

Standing Out in Any Career

Beyond career choices and investments, John stresses the importance of gaining attention, regardless of your profession. “Even if you’re a plumber, you need to make sure that everybody knows about your plumbing services,” he advised. In a competitive market, visibility and effective self-promotion are crucial for success, whether you’re in a trade or a traditional corporate role.