I'm Looking for the Next Fonzi Scheme
I have to chuckle. I really need to chuckle.
This week, Kelly McCausey and I tackled a pretty tough subject on her radio show and that is the auto-surf industry. One such auto-surf at 12DailyPro.com has been seen in the media as being under investigation for being a Ponzi scheme.
In case you wanted to know, according to cftc.gov, a Ponzi scheme is:
Named after Charles Ponzi, a man with a remarkable criminal career in the early 20th century, the term has been used to describe pyramid arrangements whereby an enterprise makes payments to investors from the proceeds of a later investment rather than from profits of the underlying business venture, as the investors expected, and gives investors the impression that a legitimate profit-making business or investment opportunity exists, where in fact it is a mere fiction.
If you want to learn more, just tune into Kelly's program. Those who are most offended by our broadcast (and realize - these are NOT the people we created the broadcast for), have been throwing personal insults, subtly threatening violence and making very revealing arguments that show they know what they are doing is potentially harmful to others. So, it's been kind of a distracting day. When your ears are burning...it can really get the best of you.
But that is not the point of this blog entry.
I got a chuckle from Jason Moffatt, when he posted in response to someone's question about what is a Ponzi scheme. He wrote:
"I want to come up with a 'Fonzi' scheme. It sounds way cooler. "
This week, Kelly McCausey and I tackled a pretty tough subject on her radio show and that is the auto-surf industry. One such auto-surf at 12DailyPro.com has been seen in the media as being under investigation for being a Ponzi scheme.
In case you wanted to know, according to cftc.gov, a Ponzi scheme is:
Named after Charles Ponzi, a man with a remarkable criminal career in the early 20th century, the term has been used to describe pyramid arrangements whereby an enterprise makes payments to investors from the proceeds of a later investment rather than from profits of the underlying business venture, as the investors expected, and gives investors the impression that a legitimate profit-making business or investment opportunity exists, where in fact it is a mere fiction.
If you want to learn more, just tune into Kelly's program. Those who are most offended by our broadcast (and realize - these are NOT the people we created the broadcast for), have been throwing personal insults, subtly threatening violence and making very revealing arguments that show they know what they are doing is potentially harmful to others. So, it's been kind of a distracting day. When your ears are burning...it can really get the best of you.
But that is not the point of this blog entry.
I got a chuckle from Jason Moffatt, when he posted in response to someone's question about what is a Ponzi scheme. He wrote:
"I want to come up with a 'Fonzi' scheme. It sounds way cooler. "
Man, if he only did that, he could change the face of the get rich quick universe! Let us know what you come up with, Profit Moffatt. I know it's gonna be big.
6 Comments:
Ah yes, 12dailypro. Much talk about this lately. Such a shame people get pulled into these "easy money" schemes when making money can be so much fun to do in "legit" ways.
Fonzi Scheme! I'm in! :-)
LOL! Do I get a leather jacket with my membership fee? ;)
dus10, I hear the bottom of that one's going to drop out soon too. ;)
dus10d...agreed. The one in Canada is also falling apart, unfortunately.
Alice you and Kelly are awesome for doing the show about autosurfing (well for lots of other stuff too lol). I'm sure you both knew how much controversy and backlash it would get but also knew that this was info we moms needed to know!
When you get more info on 'Fonzi' schemes let us know too! ;)
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