Bridget Read, a journalist and author of 'Little Bosses Everywhere,' joins to discuss her extensive research on pyramid schemes and multi-level marketing (MLM). She reveals the psychological allure and deceptive practices that attract individuals, particularly vulnerable demographics like women of color. The podcast examines the historical evolution of MLMs, their ties to conservative politics, and the emotional toll they take on participants. Read shares insights into the illusory nature of self-worth in MLMs, making this conversation a compelling critique of modern entrepreneurship.
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question_answer ANECDOTE
Josie's MLM Burnout Story
Josie, a former makeup artist, joined an MLM selling workout routines and health shakes with initial success.
Despite making over $100K and buying luxury items, she and top earners were exhausted and unhappy, leading her to quit.
insights INSIGHT
MLM is a Recruitment Pyramid
MLMs pay participants mainly through recruiting new members and their product purchases, not retail sales.
This structure forms a pyramid scheme that rewards recruitment over actual product selling.
insights INSIGHT
Purchase Volume Fuels MLM Ponzi
MLMs pay participants based on 'purchase volume' from recruits regardless of actual retail sales.
This incentivizes endless recruiting and buying products without regard to sales, creating a multi-tiered Ponzi scheme.
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In 'Project Hail Mary', Ryland Grace, a high school science teacher, awakens on a spaceship with no memory of how he got there or his mission. He soon discovers that he is the sole survivor of a desperate mission to save Earth from a microorganism called the Astrophage, which is threatening to cause a new ice age. As Ryland regains his memories, he encounters an alien named Rocky, and together they work to solve the scientific mystery and save their respective home planets. The story blends science, humor, and heart, exploring themes of survival, discovery, and unlikely friendships[1][3][5].
Little Bosses Everywhere
How the Pyramid Scheme Shaped America
Bridget Read
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.
Multi-level marketing businesses like Mary Kay, HerbaLife, and Amway are so ubiquitous, it's almost hard to imagine where they started or how deep their influence goes. In this special episode of Scamfluencers, Sarah Hagi talks with Bridget Read about her new book, Little Bosses Everywhere: How the Pyramid Scheme Shaped America. She spent years researching the origins of the “pyramid scheme,” a twist on the classic Ponzi scam, and she talks about who is most vulnerable to these massive, billion-dollar frauds, and why they’ve become unavoidable today.
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