The Gen Z Pyramid Scheme Sweeping Instagram
1–10 of 55 posts
Re: The Gen Z Pyramid Scheme Sweeping Instagram
#2Everything Old Is New Again
Re: The Gen Z Pyramid Scheme Sweeping Instagram
#3Suckers keep being born.
Re: The Gen Z Pyramid Scheme Sweeping Instagram
#4I wish I had three hands so I could triple face-palm.
Re: The Gen Z Pyramid Scheme Sweeping Instagram
#5It's interesting how prone the major social networks seem to be to outright scams. You can find plenty of cult leaders and fake cancer treatments on YouTube, Holocaust denial material on Reddit, etc.
Of course those companies have every right to keep that material up, but it's strange how those scams are tolerated when other stuff is taken down. The pure scale of it all probably makes those scams more effective than they used to be as well. You don't gotta sell your miracle water from town to town anymore, you just make a YouTube video and send it out to a million people. Cryptocurrency scams really take advantage of this.
Not sure why those companies don't care about users getting taken advantage of, but they don't. Sometimes it feels like our economy is based on scams all the way down.
Re: The Gen Z Pyramid Scheme Sweeping Instagram
#6When I was a kid, people were doing the exact same thing, only with the U.S. mail, dollar bills, and much bigger pyramids. I'm kind of surprised it took this long for me to hear of a social-media/online-payment accelerated version.
Re: The Gen Z Pyramid Scheme Sweeping Instagram
#7Anyone stupid enough to do this is getting off very cheap. If anything this will save them money in the long term as hopefully they'll only be swindled for the original $150.
Re: The Gen Z Pyramid Scheme Sweeping Instagram
#8It's interesting how prone the major social networks seem to be to outright scams. You can find plenty of cult leaders and fake cancer treatments on YouTube, Holocaust denial material on Reddit, etc. Of course those companies have every right to keep that material up, but it's strange how those scams are tolerated when other stuff is taken down. The pure scale of it all probably makes those scams more effective than…
But maybe there is a positive side to this...
50 years ago this scam would have been targeted at middle aged people, in the prime of their scam detecting abilities.
These gen-z kids are getting hit with this stuff earlier, but will possibly spend more of their lives as savy, post scammed individuals. So the exposure leads to greater societal intelligence.
And because the scam is aimed at the young, the amount of money they are losing is generally in the hundreds, not thousands of dollars, and has less of an effect on their overall quality of life or their retirements.
Re: The Gen Z Pyramid Scheme Sweeping Instagram
#9Anyone stupid enough to do this is getting off very cheap. If anything this will save them money in the long term as hopefully they'll only be swindled for the original $150.
$150 is probably not that cheap for a teenager; and I bet that a lot of them will re-"invest" into multiple stacks once they succeed once.
Re: The Gen Z Pyramid Scheme Sweeping Instagram
#10How does the scam author profit? Seems like all the funds 4x150 = 1200 get distributed back into the network.