Bridget Read, a journalist at New York Magazine focused on housing inequality, joins the discussion to unpack the alarming realities of multi-level marketing (MLM) schemes. She reveals how these so-called opportunities exploit vulnerable individuals, turning entrepreneurial dreams into financial traps. The conversation dives into the deceptive tactics used to recruit members and the societal impact of MLMs on personal relationships. Bridget also connects MLMs to broader themes of community and belonging, particularly in the wake of the COVID pandemic.
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question_answer ANECDOTE
MLM Targets Vulnerable Groups
MLM schemes target women due to flexible job appeals and need for supplementary income.
Certain groups like military wives and conservative Christian households are particularly affected.
insights INSIGHT
Most MLM Participants Lose Money
Around 85% in MLM schemes earn no commissions, and top earners make roughly poverty wages.
Bridget Read's "Little Bosses Everywhere" delves into the history of pyramid schemes in America, revealing their insidious impact on society. The book traces the evolution of multi-level marketing (MLM) from its origins in the mid-20th century to its current online presence. Read exposes the manipulative tactics employed by MLM companies, highlighting their exploitation of individuals' financial vulnerabilities and aspirations. The narrative explores the intersection of MLM with various social and political trends, demonstrating how these schemes have shaped American culture and economy. Ultimately, the book serves as a cautionary tale about the dangers of unchecked capitalism and the enduring allure of get-rich-quick schemes.
Journalist Bridget Read joins Ravi to explore the dark side of multi-level marketing schemes - and why they’re more dangerous and widespread than most people realize. In her new book Little Bosses Everywhere, Read breaks down how these so-called business opportunities often lure in vulnerable people, turning dreams of entrepreneurship into financial traps. Ravi and Bridget discuss why MLMs thrive despite dismal success rates, how they’ve reshaped American society, and what they reveal about the American obsession with hustle culture and belonging.
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