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Posted On: 11/01/2019 8:51:21 AM
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Why the Prosperity Gospel Is the Worst Pyramid Scheme Ever
JANUARY 27, 2015 | Nicholas McDonald
What’s a Pyramid Scheme?
Here’s how pyramid schemes work.
Step One: A snazzy entrepreneur wants to make a lot of money. Said snazzy entrepreneur tells two little old ladies that if they sell his “Wow-What-A-Sham 3000,” they can make some dough to pay off their cat-sitting bills. That will cost them a startup investment of $401.76. And yes, Wow-What-A-Sham 3000 is a gimmick. But that’s okay, it’s not really about selling the product anyway; it’s about recruiting more salespeople.
Step Two: These two little old ladies recruit more little old ladies, and give them the same spiel.
Step Three: At some point, people realize no one wants to buy the Wow-What-A-Sham 3000, and no one is actually selling any Wow-What-A-Sham 3000s. All the buy-in money is funneling straight up to the top. Meanwhile, snazzy entrepreneur is up in his office, cackling, and swimming in wads of cash.
That’s a pyramid scheme.
JANUARY 27, 2015 | Nicholas McDonald
What’s a Pyramid Scheme?
Here’s how pyramid schemes work.
Step One: A snazzy entrepreneur wants to make a lot of money. Said snazzy entrepreneur tells two little old ladies that if they sell his “Wow-What-A-Sham 3000,” they can make some dough to pay off their cat-sitting bills. That will cost them a startup investment of $401.76. And yes, Wow-What-A-Sham 3000 is a gimmick. But that’s okay, it’s not really about selling the product anyway; it’s about recruiting more salespeople.
Step Two: These two little old ladies recruit more little old ladies, and give them the same spiel.
Step Three: At some point, people realize no one wants to buy the Wow-What-A-Sham 3000, and no one is actually selling any Wow-What-A-Sham 3000s. All the buy-in money is funneling straight up to the top. Meanwhile, snazzy entrepreneur is up in his office, cackling, and swimming in wads of cash.
That’s a pyramid scheme.
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