Stuff are misinforming people about Pyramid schemes: incorrectly claiming they are "legal"
The Fair Trading Act notes Pyramid schemes are illegal "whether or not they provide a product or service, or both"
https://www.stuff.co.nz/business/132663928/cost-of-living-pushes-young-people-into-multilevel-marketing-hustles
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@winstonsmith multi-level marketing isnt the same as a pyramid scheme. a pyramid scheme (the thing illegal by law) is something very specific.
@freemo it's the fucking same, MLMs are just Pyramid scams -- with marketing
@winstonsmith No, not even remotely true.
A pyramid scheme doesnt have a product and its sole source of generating money is through recruitiment of an every expanding layer of tiers of investors.
In MLM actual products are bought and sold, and each level may take a cut from whoever they recruited... these are vastly different things even ont he surface.
@freemo the level of dumb needed to assert MLMs are not Pyramid scams is truly a remarkable thing
Read the legislation
LOL you just posted the legal definition here:
https://mastodon.nz/@winstonsmith/110890347225273207
And it literally almost word for word in a.iii explains exactly what I explained to you as to what the difference between MLM and pyramid scheme is... lolol dude, read, understand, talk less.
@freemo
You're being dumb as a rock, get some rest or whatever your problem is
https://www.legislation.govt.nz/act/public/1986/0121/latest/DLM96950.html
@winstonsmith Why are you calling me dumb and then linking to legislation that **Exactly** agrees with what I just said... I quote from the link you just gave:
that, to many participants in the scheme, constitutes primarily an opportunity to buy or sell an investment opportunity, whether personally or through an agent, rather than an opportunity to buy or supply goods or services; and
@freemo it doesn't agree with what you said
@winstonsmith It is virtually word for word what I said... a scheme where the primary source of money is getting new tiers of investors rather than selling a product.... read the law you posted again nearly exactly what I said:
that, to many participants in the scheme, constitutes primarily an opportunity to buy or sell an investment opportunity, whether personally or through an agent, rather than an opportunity to buy or supply goods or services; and
@freemo MLMs are investment scams, no different to Pyramid scams. The products are immaterial compared to recruitment rewards.
You can Google this
@winstonsmith WHEN an MLM is an investment scam, then it is a pyramid scheme... An MLM that is not an investment scam is not... this isnt complicated.
No not just the USA the definition is the same in most countries.. just as the legal definition you posted earlier completely agreed with what I said, youd find that to be true in the legal definition of most countries with pyramid scheme laws.
@freemo They're illegal. Amway operators literally fled the country when the law was passed, they should know.
@freemo maybe in the USA?
I'm not talking about the USA, Genius