Chapter
The Problem with Multi-Level Marketing Schemes
2:05:42 - 2:10:10 (04:27)
Multi-Level Marketing schemes often focus more on recruiting new members rather than selling a product, leaving the majority of people who join at a financial loss while only benefiting those at the top. These schemes are marketed through a social network of individuals looking to improve their financial situation.
Clips
The American Dream of working hard to achieve success has led to a desire to shortcut to the top, which grifters play upon with their ability to use true narratives that people already believe in to sell their scams and schemes.
2:05:42 - 2:06:46 (01:04)
Summary
The American Dream of working hard to achieve success has led to a desire to shortcut to the top, which grifters play upon with their ability to use true narratives that people already believe in to sell their scams and schemes.
ChapterThe Problem with Multi-Level Marketing Schemes
Episode#345 – Coffeezilla: SBF, FTX, Fraud, Scams, Fake Gurus, Money, Fame, and Power
PodcastLex Fridman Podcast
Pyramid schemes focus on recruiting new people to make money rather than selling a product, making it a bad business for the vast majority of people who join.
2:06:46 - 2:10:10 (03:23)
Summary
Pyramid schemes focus on recruiting new people to make money rather than selling a product, making it a bad business for the vast majority of people who join. They use social networks of marketing and false promises of success to lure people in.