Once again, a pyramid scheme has taken over the social media and has made its way into the mind and finance of the youth. There is no better driving force than the thought of making quick money. In a hard economy where most of the youth want to make quick bucks to compete with their peers, an idea that will make this possible quickly can be likened to a safe haven and an escape from the normal. Two weeks ago, I had a message from a close friend of mine. The message read; come make we chop some money. 
It was an introduction to loom. His message was followed by a call to entice me to the program. I wasn't move that much by the program due to my previous encounter with Ponzi schemes. He was the first to introduce loom to me but he wasn't the last to invite me. Things lied low for a week. Then a social media burst came, talking about a quick and easy way to make money. I thought something new was being brought up till I had a close look at the scheme. It was the same old Ponzi scheme. The youth had taken it to another level. Inviting friends and work colleagues.
I even had close relations inviting me from all angles. All had positive encounter with the program which made it seem to be realistic and sustainable. As the title suggest, the end will be ugly. Loom was just one of the various scams around. It worked on a pyramid scheme that promised a leader of a group of 8people 8X the the amount he or she started with. If not greed, how can one earn 8X his return through such a system. Yet people bought into this idea.
The aftermath has not been nice at all. Friendships have been destroyed likewise worker colleague relationships. I was at the work place today when a woman walked into the office. She had joined this scammy program and had received money from a work colleague. Unfortunately for the colleague, the program stopped functioning and now her money is stucked in there. Similar stories has been happening Nationwide and the pressure keeps building.
Get rich fast schemes are all scams just that some people earn. As a Ponzi scheme, people will earn but majority of the people who join such programs loose. I have personally learnt through the hard way not to join such programs as they bring only problems. Money earned without sweat easily leaves the hands of it's owner and with this philosopher I have learnt to earn all my income through the right channel. Learn once and for all. Thank you.
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