Is this company a scam/pyramid scheme? Has anybody here

>>1074577
Yes it is.
All "multi-level marketing" businesses are pyramid schemes.

I did for a bit because I talked them into waiving all fees. Its shit and all the people act like a cult. I got them to pay for my certs and moved on to an actual company.

meme

>>1074577
absolute shit. my cousin got sucked in to that. i tried so hard to convince him not to, but he did and dragged his wife into it with him. he embarrassed himself on facebook. tried to get involved in our family members financials. he wasted a few years, friends and family talk shit about him, and hes out about 35k.

the golden question i always asked was if it was so good, why didnt they have advertising like normal and small locations everywhere in strip malls. why did they have to approach people and meet them at starbucks. that was basically proof it was shit and could never get a straight answer to that one.

>>1074588
Fuck lol.

>TFW mom got suckered in and tried to get me to come to one of their cult meetings

I'm trying to talk her out of it but I'm worried she's going to waste unnecessary time/money on this bs ;-;

It does seem like bullshit from what I googled for a few minutes but the fact that they were together with citigroup seemed a little reassuring.

How do I convince my mom not to buy into this bs? I tried to go over how pyramid schemes work generally and that they'll try to sell her it with all this good wording and how these few guys made $300k/yr but then when you get down to it you're just pestering your family/friends/relatives and in the end making very very little and that the majority of people quit.

>>1074588
i agree with this anon.

got a friend to pay for my fees and then left after i got my certs. they called and called trying to get me to continue. stupid shit man.

the head primerica boss in my area made 40k before taxes working 100+ hrs a week. pretty sad.

>>1074600
shieetttt man

How do I talk my mom out of this? I know I'm a fucking NEET but I just don't want her to lose her money/time.

>>1074601
>but the fact that they were together with citigroup seemed a little reassuring

i could start a business tomorrow, open a bank account at citigroup, then proclaim im working together with citigroup.

>>1074612
Yeah but I meant this part:

>Citigroup attempted to sell Primerica in 2008,[26] having received several bids from life insurance companies and private equity firms interested in buying.[27][28] At the time the market value of the company was estimated to be $7 billion, roughly 15 times its annual earnings[29] and Citi was trying to match various bidders in groups that could bid for the unit together. Initially, a sale to JC Flowers & Co. LLC and Protective Life Corp was underway until the deal was canceled last minute for publicly undisclosed reasons.[30]

>>1074608
ask her the question i kept asking my cousin and could never get a straight answer to.

some people are just suckers and need to learn the hard way. its just the way life is.

>>1074601
>try to sell her it with all this good wording and how these few guys made $300k/yr
This is literally in the training when they want you to bring more people on.
>"Tell them whatever number is high enough to interest them but not high enough to be unbelievable."
Word for word what they told me.

>>1074617
>ask her the question i kept asking my cousin and could never get a straight answer to.

She's going to like some retarded office of theirs though.

One of her friends talked her into it. She even tried to get me to come along lol.

fuck man I really hope she doesn't buy into this... I'm really worried because they're not doing too well financially right now and if she goes into this it would be a whole lot of trouble.

The thing is that I'm a lazy ass NEET who posts on 4chan and plays chess all day. Anything I try to tell my parents they tend to think I'm just making up or bullshitting even though I try to give amazing advice, although I understand I'm a retard so maybe people don't want to listen to me.

>>1074619
Rest in pieces.

I just hope she doesn't give them my phone number or something or tell them I'm interested so they start spamming me with bs.

>>1074620
>She's going to like some retarded office of theirs though.
yeah, not open to the public and in a weird spot. does any company worthwhile hide like this?

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>>1074637
I understand it all man. I just hope she does...

Guys what exactly do I say to her?

Should I just point her in the direction of numerous reviews on this company?

>>1074676
Just tell her that she should reconsider his choice, and point by point explain her why is it a waste of time. And that because you care about her you are trying to stop her from losing money and time.
You have to tell her that way, because if you go like "Mom don't join that shit it's a scam" she won't even listen to you.

>>1074709
True.

I guess I'll just try my best, if she wants to go with it I cleared my conscience completely and I have no qualms with myself.

>>1074600
>he wasted a few years, friends and family talk shit about him, and hes out about 35k.

Was just rereading the posts and what the fuck... How did he spend $35k on it?

How is that even possible?

>>1074620
Here's some amazing advice for you:

If you're actually worried about your parents "having a hard time" financially then get a job and contribute or better yet move out. I guarantee the money they're throwing away to keep a fucking loser beta weeb in their basement far outweighs what she'll waste on a pyramid scheme.

>>1074709
No tell her shes retarded and shes literally being scammed by a company thats going to be tken down by the fed any day now.

>>1074835
>If you're actually worried about your parents "having a hard time" financially then get a job and contribute or better yet move out. I guarantee the money they're throwing away to keep a fucking loser beta weeb in their basement far outweighs what she'll waste on a pyramid scheme.

Not disagreeing bro. I know I'm a worthless parasite with no motivation.

>>1074841
I am lol.

Whatever tho on one hand I want her to lose money so I can laugh in her face and keep asking her "So how much did you make this month? LOL"

>>1074800
he devoted his life to it. even threw events at bars and shit and inviting everyone on fb. it was pretty extreme and took a couple years to realize what i was trying to tell him from day one.

>>1075126
Damn man. What goes through their mind?

What do they do when they realize? Do they try to end their lives?

>>1075129
unfounded promises of easily making 6 figures

>>1074577
I was actually contacted by a 'recruiter' or whatever about 3 years ago for this company. My friend was a cashier in a grocery store, he asked her if she wanted a job, and if she knew anyone looking for work. She gave him my number.

The recruiter and I chatted on the phone for about an hour. I told him I had a degree in Economics and he said it would help his company. He never gave me details, just sort of said "I need someone who is passionate, hard working, self motivated!" The only thing 'revealing' about the company he told me was that I would be certified to sell insurance. I asked the name of his company and he said "Primerica."

After I got off the phone I did a quick Google search and found out that yup, it was a pyramid scheme. I even made a thread on /pol/ (this was before /biz/ existed) asking their opinions on Primerica - they said it was a pyramid scheme and a few people shared their negative Primerica anecdotes.

You *can* make money doing these things - but you will make less than minimum wage. And the people who work in these companies are SO dedicated and passionate, they have invested so much time they have begun to identify with their job - they take great offense when you try to tell it's a pyramid scheme.

>>1074577

The Golden Rule of pyramids:

1) Do I have to pay to be part of the company (i.e. buy product, pay a joining fee, or pay for training)?

If the answer is yes, it is a pyramid scheme

2) Why don't you just take the product directly to the market? Wouldn't it be more profitable for management?

The answer to this is always bullshit about exclusivity, or the power of MLM.

These two questions always expose pyramids for that they are.

>>1075133
>>1075139
>>1075142
Pretty fucking terrifying tbqh.

This shit seems like a cult and very mysterious and sketchy. Creeps me out.

I REALLY hope my mom didn't give them my phone number and say I was interested...

>>1075142

>>1075139
>You *can* make money doing these things - but you will make less than minimum wage. And the people who work in these companies are SO dedicated and passionate, they have invested so much time they have begun to identify with their job - they take great offense when you try to tell it's a pyramid scheme.
fully agree with all this

>>1075151

>I REALLY hope my mom didn't give them my phone number and say I was interested...

If someone contacts you just say "not interested." They won't hound you if you aren't interested, it's no big deal.

When I spoke with a recruiter, it was all glam and show. He talked about being my own boss, making a six figure income, running a successful business, etc. But he never actually explained how or what. When I tried asking more specific questions, he said "Ultimately what I want is someone who is hard working, and eventually, will form a team of their own." Gee, you mean like, a pyramid? The recruiter wasn't "hiring" - he was recruiting! He was trying to get as many people as possible working for him so he could reap the passive referral income. He literally approached a stranger in a grocery store asking her if she wanted a job or had any friends who wanted one.

>>1075151
Here's what will happen:
1) Your mom will be "certified" to sell insurance. She will pay to take her own certification tests, I believe when I did my research it was $150. (First red flag - you get a job to make money, not spend money!)
2) Your mom will begin selling insurance hoping to get a cut of the commission. Because she's not experienced with sales, she will target friends/family she already knows. She'll create a Facebook page, message her friends, etc.
3) When she realizes her sales prospects are low, and Primerica hasn't provided her any sales leads, she will try and recruit people to make sales for her so she can earn the passive referral income.
4) Sooner or later she will realize she's made barely any money for all the hard work she's put in. She's made $2/hour for all the time she's invested. She will keep pushing on as long as the promise of a 6 figure salary looms around the corner.
5) Some billionaire at the top of the pyramid is laughing his way to the bank because people just like your mother give him free money every single day.

>>1075175
I can't tell if she's falling for the meme or not.

I asked her what the seminars are about and she just responds with "How to make money, how to make a team, etc". She keeps getting mad whenever I give her any advice though, even if I say it in the nicest way possible.

Whatever it's up to her I guess.

>If someone contacts you just say "not interested." They won't hound you if you aren't interested, it's no big deal.

I guess as long as it doesn't touch me I don't care anymore. I tried to warn her and talked with her for a while telling her it's a scam but whatever

Just let your mom get meme'd on and get a job to help yourself.

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>>1075215

Look guys, I found the runt of the litter.

>>1075215
>Just let your mom get meme'd on and get a job to help yourself.

That's the plan, minus getting a job.

I'm too unemployable desu.

>>1075229

Find someone your mom trust, make them talk to her about it.

Only way she will listen, she won't listen to something that came out of her vag.

>>1074600
My cousin dragged my Dad through the same shit (QNet in India), and their answer to that 'golden question' is that since they only advertise by word-of-mouth and avoid traditional retail investments, they can save a lot of money which can then be shared between the seller and the buyer alike.

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>>1075247

I just read the About Us and still have no idea what they do or sell. Red flag #1

http://www.primerica.com/public/our-story.html

I did Primerica for a year. It's an easy way for a life insurance license and how to figure out how the basics of investing works. It taught me how to be a better sales person with so so products. I only made $1000 gross and only $200 profit.

It's also good if you want to learn how cult like power works. It's very easy to get sucked in. It makes you feel like you're bigger than something and the younger women there are easy. I used charm and seduction to bring in very easy women that I had wrapped around my finger to join my team!

Sales is rough and takes alot of time to be good at it. They pretty much view people who make 6 figures or more as celebrities.

I believe people view it as there chance to leave the rat race. When you can put more effort into your own selfmade business and succeed alot faster without many of the restrictions

>>1075790
I love how some of them claim to be millionaires... Yeah ok bro. Is that why the company has over 60% employee turnover per year?

>>1074892
Why would you want to make your mother feel bad?

>>1075820
Because she never listens to my advice

>Mom here's some studies and proof that X is true
>No anon this is incorrect, I know because I heard it from someone/read it somewhere, all those studies were probably paid for by (person who could potentially benefit from X being popular)... But where I heard it from is definitely not a shill!

I gave up desu.
>"Anon teach us how to invest our money correctly!"
>Well mom it's a lot more complicated than that, I suggest you read ___, ____ and ____
>"Oh we don't have any time to read all that!"

>2 days later
>"Anon did you know that the market is down so investing is foolish and you'll lose all your money? I heard it on the news!"

>>1075824
Because she's a woman dude - that is how women are. Doesn't mean she isn't a good person, don't make her feel bad.

Why not talk to your father about this?

>>1075816
There are a few that are million dollar earners. the most was 5 mil a year but this guy started pretty much at the beginning.

>>1075854
He's too tired from his job and shit to be bothered with stuff. Whatever desu, their problemo

>>1075964
Not to be a dick - but you should definitely explain to them some basics of investing - like just get them to dollar cost average into an index fund.

Also try to explain to your mom again - and make it simpler for her if you can.

The thing is - your going to feel bad when they are either starving in retirement or you are supporting them.

I feel your pain dude - but try your best.

>>1075970
>Not to be a dick - but you should definitely explain to them some basics of investing - like just get them to dollar cost average into an index fund.

Dude I don't even wanna get started on that.

She will, 100% without a doubt just sell EVERYTHING if the market is down 10% or whatever in a month. I think for people like her it's better to just keep your money in cash

>The thing is - your going to feel bad when they are either starving in retirement or you are supporting them.

I won't be supporting them ever desu. I just hope I get my inheritance, other than that idgaf tbqh