I'm not sure if you've heard of this "new" travel company that started up in early December 2005, but I have. A friend of mine and one of his buddies gave me the "invest in this opportunity" presentation put together by the company - World Ventures LLC. I listened patiently through the 45 minutes or so of presentation and informing. During this time, several things became apparent to me.
First, it was quite obviously a pyramid scheme. Granted, it is not the textbook definition of a pyramid scheme, but one nonetheless. According to http://dictionary.reference.com/, a pyramid scheme is:
Pyramid scheme
n.
A fraudulent money-making scheme in which people are recruited to make payments to others above them in a hierarchy while expecting to receive payments from people recruited below them. Eventually the number of new recruits fails to sustain the payment structure, and the scheme collapses with most people losing the money they paid in.
In a simple overview, this company wants an up front one-time "membership" payment of $250 and then monthly payments of $39.95. This entitles the payer to their own world ventures web site that consumers can use to look for vacation/travel deals using the world ventures software (basically, a search engine that looks for travel deals on many web sites at once - as it was explained to me). Also, the member gets a chance to take monthly travel trips to selected destinations at a discount price. A several day vacation paid for just a couple hundred dollars. Plus, when people book with world ventures through you, you make a small kickback.
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First, it was quite obviously a pyramid scheme. Granted, it is not the textbook definition of a pyramid scheme, but one nonetheless. According to http://dictionary.reference.com/, a pyramid scheme is:
Pyramid scheme
n.
A fraudulent money-making scheme in which people are recruited to make payments to others above them in a hierarchy while expecting to receive payments from people recruited below them. Eventually the number of new recruits fails to sustain the payment structure, and the scheme collapses with most people losing the money they paid in.
In a simple overview, this company wants an up front one-time "membership" payment of $250 and then monthly payments of $39.95. This entitles the payer to their own world ventures web site that consumers can use to look for vacation/travel deals using the world ventures software (basically, a search engine that looks for travel deals on many web sites at once - as it was explained to me). Also, the member gets a chance to take monthly travel trips to selected destinations at a discount price. A several day vacation paid for just a couple hundred dollars. Plus, when people book with world ventures through you, you make a small kickback.
Read more...
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