Pyramid scheme
From The Art and Popular Culture Encyclopedia
"Late capitalism is a pyramid racket on a global scale...getting the suckers to believe it's all gonna go on forever."--Bleeding Edge (2013) by Thomas Pynchon |
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A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.
Pyramid schemes have existed for at least a century in different guises. Some multi-level marketing plans have been classified as pyramid schemes.
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See also
- Gift
- Ponzi scheme
- Claims of Social Security in the USA as a pyramid scheme
- Aman Futures Group
- BurnLounge
- The Cobra Group
- Holiday Magic
- Make Money Fast
- Nouveau Riche (college)
- Qnet
- Success University
- Madoff
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