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*CHAIN LETTERS AND PYRAMID SCHEMES - WHY THEY DON'T WORK! and *If you are active in mail order, you've no doubt seen tons of chain letters *and pyramid programs. In case you're not familiar with them, here's an *overview, so you know what to watch out for. and *Chain letters are those letters you get, instructing you to send, say $5, *to the 4 to 6 people on the list, who will send you a report, or some *product, or sometimes even nothing. Then, you add your name to the bottom *of the list, moving the others up, and the top one off. You then print and *mail out as many as you can, hoping others will do the same as you. The *letters are liberally sprinkled with references to how much money you will *make, and how many people are sure to participate. Some even go so far as *to promise you $1,000,000 and more, sometimes in less than a month! and *Pyramid schemes are what chain letters are based on. You buy into one, *then you need to recruit others below you, to move you up the line. The *people you recruit, in turn, need to recruit others, and so on. Pyramids *go by all kinds of names and formats. For example, "Airplanes" are a *popular pyramid scheme. There are 8 "passengers," 4 "stewardesses," 2 " *co-pilots," and 1 "pilot." When you buy in, you pay a predetermined amount, *like $10, to the pilot. That makes you a passenger. When you recruit 8 *more people, you become a stewardess. Your 8 people then need to recruit *8 more, to move you up, and so on. You're promised that you will get *hundreds of dollars when you're the pilot. and *These programs all share many characteristics. First, they're illegal. *Don't believe what the chain letters say, that someone "showed it to the *postmaster, who assured him it was legal," or "it's legal, check the postal *codes." Pyramid games are illegal because you're paying money for nothing, *in a shaky con game which can fall apart if recruiting drops off. With a *chain letter, it's the same, but it's conducted through the mail, which *opens up mail fraud laws, also. and *Second, the mathematics used in the letters and schemes is flawed. Most *chain letters will say you should expect a 5% - 10% response from your *mailings. As anyone in mail order will tell you, this is absurd, especially *in regard to chain letters. But, let's go with a 5% response on a chain *letter with six levels. For the sake of argument, let's say that everyone *who participates mails out 2,000 copies (though most people drop out *without mailing more than a few). * *What you are doing in a chain letter is relying on others to do the work *that will make money for you. There is no such thing as free lunch. *Somewhere along the line, people will drop out and everybody loses! and *It doesn't matter if the chain letter/pyramid involves sending money, *recipes, stamps, or any product or object of value. It's still ILLEGAL *and a poor business proposition. and and and |
