Learn the techniques and tricks that pyramid schemes use to recruit new members and how to avoid being fooled yourself.
In 2004, a nutrition company offered a life-changing opportunity to earn a full-time income for part-time work. There were only two steps to get started: purchase a $500 kit and recruit two more members. By 2013, the company was making $200 million. There was just one problem -- the vast majority of members earned less than they paid in. Stacie Bosley explains what a pyramid scheme is and how to spot one.
Lesson by Stacie Bosley, directed by Wooden Plane Productions.
Sign up for our newsletter: http://bit.ly/TEDEdNewsletter
Support us on Patreon: http://bit.ly/TEDEdPatreon
Follow us on Facebook: http://bit.ly/TEDEdFacebook
Find us on Twitter: http://bit.ly/TEDEdTwitter
Peep us on Instagram: http://bit.ly/TEDEdInstagram
View full lesson: https://ed.ted.com/lessons/how-to-spot-a-pyramid-scheme-stacie-bosley
Thank you so much to our patrons for your support! Without you this video would not be possible! Mrinalini, Anthony Kudolo, Scott Gass, Querida Owens, Hazel Lam, Manav parmar, Dwight Tevuk, Siamak H, Dominik Kugelmann, Mary Sawyer, David Rosario, Samuel Doerle, Susan Herder, Savannah Scheelings, Prasanth Mathialagan, Yanira Santamaria, Dawn Jordan, Kevin Wong, Goh Xiang Ting Diana, Cristóbal Moenne, MJ Tan Mingjie, Yansong Li, Jason A Saslow, Joanne Luce, Kyle Nguyen, Taylor Hunter, Noa Shore, Lex Azevedo, Merit Gamertsfelder, Bev Millar, Rishi Pasham, Jhuval , SookKwan Loong, Bruno Pinho, Javier Aldavaz, Rodrigo Carballo, Boytsov Ilya, EdoKun, Misaki Sato, Craig Sheldon, Andrew Bosco, Catherine Sverko, Nik Maier, Mark Morris, Adi V, Peter Liu, Leora Allen, Hiroshi Uchiyama, Michal Salman and Gilly.
Tags: #TED #TED-Ed #TED Ed #Teded #Ted Education #animation #stacie bosley #wooden plane productions #pyramid scheme #pyramid scheme money #vemma nutrition #fraud #economics #investing #investment #ponzi scheme #gifting groups #investment clubs #multi-level marketing #multi-level marketing scam #scam #money