369: The Capitalist Cult: How MLMs and Pyramid Schemes Trap Average Americans

BiggerPockets Money Podcast · Jan 4, 2023 · 1m

Multi-level marketing companies (MLMs) operate in secrecy. They don’t want you to know where the products are coming from, how they’re being sold, who’s making a profit, and how the business works. They only want you to buy. Buy this starter kit, host that party, convince your friends and join the cult—sorry, the “club.” Operating in darkness is how these pyramid schemes build their membership count, branch into new cities, and keep average Americans in debtbut still chasing an empty dream. So how did MLMs even come to be, and if they’re so blatantly nefarious, why hasn’t the government…