MLM, Pyramid Scheme, Same Diff
Multi-Level Marketing companies don’t just sell overpriced dieting supplements, skincare, and jewelry. They sell the illusion of becoming a made-at-home millionaire, attracting people who want the freedom of being their own boss and setting their own schedule. The seminars and infomercials hype hopefuls up before leaving them high and dry.
According to Fundera, one in 13 adults have hopped onto the bottom of an MLM pyramid, crossing their fingers they rise to the top. The reality is that 99% of people who sign up lose money, with 50% dropping out after a year. If you’re tempted to fill that “one last spot” your friend has in their “small business,” read the company’s income disclosure statements carefully before signing up.