Completely brilliant. Truly an insipired book. While I truly enjoyed Tom Campbell's book My Big Toe (trilogy), all 800+ pages of it, and numerous otheCompletely brilliant. Truly an insipired book. While I truly enjoyed Tom Campbell's book My Big Toe (trilogy), all 800+ pages of it, and numerous other books that explore the spirituality/quantum physics nexus, this little book explains more in 150 pages, than a bookshelf full of heavy tomes. Don't leave home without it....more
The importance of this book is not to be underestimated. When I first reviewed it on Amazon.com, I called this book the most important thing to happenThe importance of this book is not to be underestimated. When I first reviewed it on Amazon.com, I called this book the most important thing to happen in MLM since the $1 billion short by Pershing Square, and that opinion has only become stronger.
MLM is based on an economic construct that is evidently faulty. If we assume that its purpose is to sell product, which is what MLM companies pretend to be the case, then you would not recruit distributors ad infinitum to the point that you destroy any retail opportunity for those distributors. MLM does provide maximal incentives for recruiting, and retailing the products is nigh-on impossible. This book demonstrates this analysis in a very graphical way.
Smith provides a fictional story of a successful MLM-er who thinks the better of it after a few years, and decides to support a (fictional) congressional investigation into MLM - which does seem to be one possible outcome in the real world. Woven into the story is a brilliant analysis of the legal history of MLM in the USA, which is the birth place of the system. Few people really do understand that before the now infamous Amway decision in '79, pyramid cases against MLM companies, such as Holiday Magic, Omnitrition and Koscot, were relatively straightforward. Even fewer people realize how idiotic the Amway '79 ruling was. It was as if the burglar, instead of being convicted for burglary, were negotiating with the judge how many burglaries he could get away with before being convicted. The court never addressed the actual question of whether Amway was an illegal pyramid or not, but instead got wrapped-up in negotiating conditions under which it would not be found to be an illegal pyramid. Those conditions were mostly circumstantial, and unenforceable in practice. No wonder then that the author in real life is calling for overturning the Amway '79 decision.
The story is thoroughly enjoyable, and clearly written by someone who has extensive first hand experience of the MLM industry. There are many good, critical books on MLM, but this one has to be one of the more enjoyable ways to get a thorough introduction to the topic....more
Fraud distorts a system, and in the economy it undermines legitimate business. The growing tsunami of s & l fraud made intervention increasingly nFraud distorts a system, and in the economy it undermines legitimate business. The growing tsunami of s & l fraud made intervention increasingly necessary, simply to limit the damage. like Madoff, the fraudsters are often hoisted on their own petard, when their runaway success begins to threaten the very system they are defrauding....more