Factually! with Adam Conover Everything in America is a Pyramid Scheme Now with Bridget Read
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Aug 13, 2025 
Bridget Read, a writer at New York Magazine and author of "Little Bosses Everywhere: How the Pyramid Scheme Shaped America," delves into the pervasive culture of multi-level marketing. She reveals how these schemes exploit hopes of financial freedom, particularly among vulnerable groups. The conversation highlights the psychological manipulations and cult-like dynamics of MLMs, contrasts them with collective bargaining, and emphasizes the importance of solidarity among individuals facing economic disparities. It's a sharp critique of the American dream gone awry.
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MLMs Are Functionally Pyramid Schemes
- Multi-level marketing (MLM) operates structurally like pyramid schemes despite selling products.
- Bridget Read argues MLMs legalized and legitimized the Ponzi/pyramid model across American life.
Origin Story: Neutralite's Purchase-Volume Trick
- Neutralite invented the purchase-volume model that rewarded buying over retail selling.
- That invention turned door-to-door vitamins into a recruitment-driven profits pyramid.
The Math Makes Pyramids Unsustainable
- Pyramid models are mathematically unsustainable because recruitment runs out quickly.
- Early recruits profit briefly but expansion inevitably collapses as markets saturate.
