Multi-Level Marketing, Pyramid, and Ponzi Schemes (1 of 4)

What is multi-level marketing? It turns out, it is a very popular business model that targets Christians and other people of faith. But... it is almost guaranteed to fail. Because MLM's and direct sales companies are not designed to sell a product but to sell the business itself.Joining us for this episode is Robert Fitzpatrick. He's the president of Pyramid Scheme Alert and the author of the new book “Ponzinomics: The Untold History of Multi-Level Marketing and How Direct Sales Became an American Swindle”.Also mentioned in the episode is the podcast The Dream. Season one talks in great detail about pyramid schemes. Please be aware that some of the episodes use strong language.Topics covered in this episode:What is multi-level marketing?What is a pyramid scheme?What is a Ponzi scheme?Who are Ponzi schemes named after?Who was Charles Ponzi?Is multi-level marketing the same thing as a pyramid scheme?What is the difference between a pyramid scheme and multi-level marketing and a Ponzi scheme?What is a good book about pyramid schemes?Will I lose money with multi-level marketing?Is Amway considered multi-level marketing?Is Herbalife multi-level marketing?Do pyramid schemes target Christians?Should I join an MLM?Which MLM should I join?Looking for the Amway stats we mentioned? You can find them here: https://pyramidschemealert.org/half-of-amways-products-are-retailed-really-plus-other-wacky-numbers-3/ Learn more about your ad choices. Visit podcastchoices.com/adchoices