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Hub You - What is a Ponzi Scheme?
Chachkas (sp)…Freebies…Giveaways. Through the years, promotional items have taken on many names…most not very complimentary. We’ve all been on the receiving end of promotional items, and typically our overall impression is synonymous with throw away, little or no value, worthless, not an essential business tool. If you’re on the gi
Are these the lessons that should be learned from Ponzi? No. If Ponzi was good at anything it w
There are numerous types of work found in Bakersfield for both college degrees and non degree holders. Career opportunity is significantly more common in Bakersfield than in other US cities. This is useful for career planning and for understanding the nature of jobs in Bakersfield. Without a Career guide it is difficult to be manage
The terms "pyramid scheme" and "Ponzi scheme" are used almost interchangeably. However, the scheme for which Charles Ponzi is most remembered was not a pyramid.
If you aren't aware of the story of Ponzi, you'll likely find it familiar. This man promised to double your money in 90 days, and he kept his promise -- until the day he was arrested for fraud. He had created such a personal mystique that he continued to receive money from new investors while in prison.
How could someone with so many satisfied customers end up in prison? Because fraud is fraud no matter the results. Ponzi claimed to be investing peoples' money and giving them the proceeds. What he was actually doing was giving peoples' money to people who had previously "invested" in order to make it seem like everything was OK. Meanwhile, he was living a lavish lifestyle while he was millions of dollars in debt.
He had no trouble getting the ever-increasing numbers of opportunity-seekers necessary to fund his business. He probably would have kept it up for many years if the government hadn't stepped in. Therefore, the lessons learned by those who wished (and wish) to follow in Ponzi's footsteps are...
* Hide the money trail better.
* Improve the illusion of selling a real product or service.
* Don't promise anything.
It's very difficult to prove that a chain letter originated with a certain person. Many pyramid schemes are organized in such a way as to conceal who is at the top. If there is an actual product or service being sold, it's difficult to prove that the main purpose of being in an organization is to recruit others (and their money). Finally, hype it up, but don't get too specific. You can't get sued for disappointing someone.
Are these the lessons that should be learned from Ponzi? No. If Ponzi was good at anything it wa
Many small business owners make the mistake of thinking that putting up a web site is advertising. They think it's like putting an ad in the paper that will bring in business. However, they usually end up frustrated when no business comes in. Learn how to avoid this mistake and save your web site from being lost in cyberspace.
How could someone with so many satisfied customers end up in prison? Because fraud is fraud no matter the results. Ponzi claimed to be investing peoples' money and giving them the proceeds. What he was actually doing was giving peoples' money to people who had previously "invested" in order to make it seem like everything was OK. Meanwhile, he was living a lavish lifestyle while he was millions of dollars in debt.
He had no trouble getting the ever-increasing numbers of opportunity-seekers necessary to fund his business. He probably would have kept it up for many years if the government hadn't stepped in. Therefore, the lessons learned by those who wished (and wish) to follow in Ponzi's footsteps are...
* Hide the money trail better.
* Improve the illusion of selling a real product or service.
* Don't promise anything.
It's very difficult to prove that a chain letter originated with a certain person. Many pyramid schemes are organized in such a way as to conceal who is at the top. If there is an actual product or service being sold, it's difficult to prove that the main purpose of being in an organization is to recruit others (and their money). Finally, hype it up, but don't get too specific. You can't get sued for disappointing someone.
Are these the lessons that should be learned from Ponzi? No. If Ponzi was good at anything it w
I’m sure, at some point, some of us have that itching desire to “be your own boss”. We imagine all the wonderful benefits of calling the shots, deciding the direction of the business, and having heaps of money because of successful businesses.Some of us then decided to take the natural step and “just do it”. We would then pro
He had no trouble getting the ever-increasing numbers of opportunity-seekers necessary to fund his business. He probably would have kept it up for many years if the government hadn't stepped in. Therefore, the lessons learned by those who wished (and wish) to follow in Ponzi's footsteps are...
* Hide the money trail better.
* Improve the illusion of selling a real product or service.
* Don't promise anything.
It's very difficult to prove that a chain letter originated with a certain person. Many pyramid schemes are organized in such a way as to conceal who is at the top. If there is an actual product or service being sold, it's difficult to prove that the main purpose of being in an organization is to recruit others (and their money). Finally, hype it up, but don't get too specific. You can't get sued for disappointing someone.
Are these the lessons that should be learned from Ponzi? No. If Ponzi was good at anything it w
Can you earn more money working on a contract than working in a fulltime job?Having spent several years specifically working as an IT recruiter filling Information Technology positions, I certainly saw my fair share of highly paid contractors.In most instances, contractors earned more money on an hourly basis th
* Hide the money trail better.
* Improve the illusion of selling a real product or service.
* Don't promise anything.
It's very difficult to prove that a chain letter originated with a certain person. Many pyramid schemes are organized in such a way as to conceal who is at the top. If there is an actual product or service being sold, it's difficult to prove that the main purpose of being in an organization is to recruit others (and their money). Finally, hype it up, but don't get too specific. You can't get sued for disappointing someone.
Are these the lessons that should be learned from Ponzi? No. If Ponzi was good at anything it w
Have you learnt a new skill or improved upon your existing skill in the last six months to one year?According to the world acclaimed management guru and Writer Professor Peter Drucker - "The only skill that will be important in the 21st century is the skill of learning news skills. Everything else will become obsolete over ti
Are these the lessons that should be learned from Ponzi? No. If Ponzi was good at anything it was lying. A lesser con artist trying to do what he did would have been run out of town long before millionaire mode set in.
Also, things are different now. If you want to set up your own Ponzi operation, you have a lot of competition and a very savvy audience for your sales pitch if you choose to do it online. A simple Google-based investigation of your Internet trail can allow a scambuster to publish your entire history of crime on his home page for the world to see.
Also, the Internet provides ways of making Ponzi amounts of money legally and with less effort. Let's all just stop giving out money to the scammers and trying to emulate them. Make the Web a better place.
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