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#145 Being Crazy Rich Asians

Posted June 22nd, 2020 by Peter · No Comments
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If you’ve ever walked the halls of Berkeley, UCSD, Irvine, or UCLA; you’ve probably asked yourself if 50% of students are some flavor of Asian. You’ve also wondered why all the super cars are owned by international students. You take it a step further, and watch Crazy Rich Asians– expecting a poorly scripted romantic comedy but having your world turned upside down. Finally, you realize: We’ve been the poor ones all along.

Constance Wu on FASHION Magazine September 2018 Cover
https://www.fashiongonerogue.com/photo-shoot/constance-wu-fashion-magazine-cover/

Asian students have extremely high recognition in academia and higher education: Acceptance rate is close to 34.2% UC-wide, but at the aforementioned institutions, the incoming freshman acceptance rate is over 45%! Many of these students hail from Orange County, Irvine, and the Bay Area; but a good amount are international students whose parents have purchased homes for them as appreciating investments. This has driven up housing prices to the tune of an all time high median of $715,000 in Orange County. It’s much higher in the Bay Area. This has also priced residents out of their own markets, while a huge amount of rental dollars go to foreign investors.

When you think about how Asians amass this wealth, it’s a simple matter of Total Addressable Markets. If one were to calculate the U.S. TAM for Asian Americans, it would be about 12m total. At its peak, Fresh Off the Boat hit a rating of 6m viewers. That’s it. A prime-time ABC show. Online views included.

On the flip side, how many asian people are in Asia? Think about the scale of your message, and what the reach can really be if you exhaust every Asian country. You’ll realize that Asian people actually comprise over 50% of the world’s GDP and spending power. Asian Central is now a global outreach and logistics firm. Please contact us at asianslike@gmail.com if you’d like to have your messages heard across the globe.

A very special thank you to Constance Wu, John Cho, and even Anna May Wong for paving the way!

What are your experiences with Crazy Rich Asians? Comment below!

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