Primerica

[Wisa1]

Yep. Ponzi/pyramid. Nothing personal, but your friend is a chump.

And is setting up Stupid Youngin as the next patsy.

That's how these places operate.  "Sell everywhere.  Family, friends, strangers, everywhere."  When you get sucked in, you magically lose all your friends.

Someone here wrote an experience with this sort of thing (V3X?  Rat?  I can't remember who.)  It was awful.

Ah, the CutCo knives gambit. I appreciate the OP's patience and desire for more info, but I think you all have this right on the money.

I sold CutCo knives for awhile, made a couple of grand in the process although I pissed off a few family friends. Eitherway Jet City Hustle is right they are good knives which 10 years later I still use, was it worth it/would I do it again? Probably, but more for what it taught me about 'marketing' than the money I made, pyramid scheme or no learning the mechanics of convincing is a worthy skill as long as you don't get convinced yourself...

[hirley0]

5d/c/rsi   3m?ing/w%r   6m/ing/SloSto   2y/ing/McD

Am I wrong in thinking this is weird for a first post?

My guess is go long the stock
i'LL try to check it myself
and do a take 5 | Later
guess 1 wrong timing
guess 2 they do hold ground in the down phase
3? down = probably pending

5 i am usually WrONg / Anyway does 7 have meaning?

[toolbelt]

Based on their annual reports, they have recruited over 1,275,000 individuals since 2010 to add to their existing sales force of 98,000, tho they recently announced their sales force as 106,000 strong.  It would appear that 1,267,000 are no longer with them.  I think its safe to say there isn't much of an opportunity to be gained there!   

[Cainad (dec.)]

Based on their annual reports, they have recruited over 1,275,000 individuals since 2010 to add to their existing sales force of 98,000, tho they recently announced their sales force as 106,000 strong.  It would appear that 1,267,000 are no longer with them.  I think its safe to say there isn't much of an opportunity to be gained there!   

Well, after 3 years hopefully they figured that out on their own.

[POFP]

Had a foolish friend of mine try to get me into Primerica. Thankfully, I didn't have to do any research. When someone starts out their description of the company with "Most people who work here leave after a short time because they're lazy, and start writing reviews saying that it's a pyramid scheme. But you just have to do the work - Which, the work isn't even that hard. Your boss does most of the work for you." Then it shouldn't take much more thought to determine that it's a scam.

Then I asked him what he did. What followed was a paragraph that could be simplified to "Nothing at all."

[toolbelt]

One of the first things they tell each class of new recruits is to ignore Google comments or other naysayers, and to treat them as "dream stealers".  They want to create an "us vs them" mindset early on in their program.  The real reason they recruit people is not to add to their sales force, but to make it easier to sell them an insurance policy (to test drive their product, if you will).  Based on their annual reports, the typical reps sell 2 1/2 policies per year.  However, the typical rep also spends $424/yr paying for online access, marketing materials and training supplies.  Based on that alone, a reps commissions won't even cover expenses, but they continue to talk about the $100k incomes of their top 1% earners (who got in years ago).  They are the poster child of MLM scams.  Over 1.5 million have joined (after paying a sign up fee), then left, since 2009 alone.

[Mesozoic Mister Nigel]

One of the first things they tell each class of new recruits is to ignore Google comments or other naysayers, and to treat them as "dream stealers".  They want to create an "us vs them" mindset early on in their program.  The real reason they recruit people is not to add to their sales force, but to make it easier to sell them an insurance policy (to test drive their product, if you will).  Based on their annual reports, the typical reps sell 2 1/2 policies per year.  However, the typical rep also spends $424/yr paying for online access, marketing materials and training supplies.  Based on that alone, a reps commissions won't even cover expenses, but they continue to talk about the $100k incomes of their top 1% earners (who got in years ago).  They are the poster child of MLM scams.  Over 1.5 million have joined (after paying a sign up fee), then left, since 2009 alone.

That's creepy as fuck. Psychologically manipulative, like a cult.

[P3nT4gR4m]

Stepson signed up to some pyramid scheme selling TV subscriptions. "Cult" is exactly the right word. There's no functional difference between him going door to door failing to sell Sky packages and someone else going door to door failing to sell historical fiction.

He chopped his hair and got a suit and started believing in himself, which was good. Unfortunately the most important lesson - how to fleece rubes for profit and lulz - flew right over his brainwashed head. Which is a shame, cos having your employees paying you for working there is one of the tightest business models capitalism has to offer

[toolbelt]

Had a foolish friend of mine try to get me into Primerica. Thankfully, I didn't have to do any research. When someone starts out their description of the company with "Most people who work here leave after a short time because they're lazy, and start writing reviews saying that it's a pyramid scheme. But you just have to do the work - Which, the work isn't even that hard. Your boss does most of the work for you." Then it shouldn't take much more thought to determine that it's a scam.

Then I asked him what he did. What followed was a paragraph that could be simplified to "Nothing at all."

Even this Federal Court judge calls them a Pyramid!  http://www.ilsb.uscourts.gov/sites/default/files/opinions/wathan(09-3098).pdf

[POFP]

He chopped his hair and got a suit and started believing in himself, which was good. Unfortunately the most important lesson - how to fleece rubes for profit and lulz - flew right over his brainwashed head. Which is a shame, cos having your employees paying you for working there is one of the tightest business models capitalism has to offer

 

Had a foolish friend of mine try to get me into Primerica. Thankfully, I didn't have to do any research. When someone starts out their description of the company with "Most people who work here leave after a short time because they're lazy, and start writing reviews saying that it's a pyramid scheme. But you just have to do the work - Which, the work isn't even that hard. Your boss does most of the work for you." Then it shouldn't take much more thought to determine that it's a scam.

Then I asked him what he did. What followed was a paragraph that could be simplified to "Nothing at all."

Even this Federal Court judge calls them a Pyramid!  http://www.ilsb.uscourts.gov/sites/default/files/opinions/wathan(09-3098).pdf