The lowest point of my life was the year following college.
Hey, same here. Then again, I had an art degree, so I shouldn't have been surprised.
HOWEVER, yes, they absolutely can (I did not say DO) make money, I think. At least the one I was "introduced" to, you buy like $500 or some BS amount of some nonsense every month. I think the theory or something is that you can sell that $500 worth of nonsense to regular folk who aren't part of the pyramid system. IF you can sell that much, then you're making money.
So, I answered a couple and they turned out to be multi-level companies, not offering a job, but to join their commission-based sales force. One was for Herbalife
hedge fund manager bill ackman made and lost a billion dollar short bet against herbalife in 2012 and his fund has lost hundreds of millions. the ftc fined herbalife but did not call it a pyramid scheme. meanwhile it's stock in the last 6 months has gone from about 56 to about 68. most analysts are neutral towards it but some are calling it a buy. herbalife has changed its tune a little bit but it's still rocking and rolling.
What did you end up doing with it?
Define succeed. If you mean sell tens or hundreds of thousands of dollars worth of product, then you're correct. If you mean work 40 hours per week and make an 'average' salary, then you are incorrect. As mentioned prior almost ALL of these "companies" have you sign a contract that states you MUST buy a 'resupply' each and every month, regardless if you sell your previous one or not. Combine that with min/max selling rates and a saturated market after 1-2 months and 99.54% of the time you'll find a want-ra-paneur with a garage full of overpriced product they can't sell. So while for the first few months (or even longer pending market saturation) it might look like they're making TONS of money, they're really not.Quote: billryan
While I am against Pyramid schemes and multilevel marketing plans as well, you can succeed in some...