MLMs have been selling the scam of financial freedom for decades, and I'm fed up. Let's talk about it.
Multilevel marketing schemes, also known as MLMs, network marketing, or sometimes even pyramid schemes, sell the idea that you can make money and get rich easily. But the truth is far from that. From crippling debt, to preying on vulnerable communities, to many lies and deceit, multilevel marketing schemes have a whole lot of problems. In this video, I talk about why MLMs are dangerous, who they prey on, the fantasy of the get-rich-quick scheme, and how to actually become rich.
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Time Stamps: 00:00 Lularoe's $5,000 investment 01:17 Let's talk MLMs 01:37 Dark reality of making money in MLMs 02:41 Pyramid schemes vs MLMs 04:18 Selling the idea of financial freedom 05:52 Why does this matter? 06:10 MLMs vs Gambling odds 06:52 Devastating financial consequences 8:10 Who MLMs prey on 9:10 MLMs targeted me! 10:29 How I knew I was in an MLM call 11:40 The MLM "opportunity" trap 12:05 "Get Rich Quick Schemes" 12:52 What do you think?
Keywords for some sweet, sweet metadata: Multilevel marketing, MLMs, network marketing, financial freedom, personal finance, money management, making money, income, social media, video essays, video essay, dark reality of MLMs, scams, side hustle
