Thread by @iamkoshiek

Crowd1 - An easy way to lose money [Thread]

No surprise, my DMs are usually crowded with gorgeous brunettes... but this afternoon (after scrolling through thirstraps) I received this!

"More people you recruit = money money you earn" Wait, isn't this how religion works? (don't crucify me).

Step 1: Find out what's being sold & trace the parent company

Plenty of HOT key words here

- acquired by European company (Impact Crowd Tech)
- library of products, apps & services
- developing countries
- core business isn't to recruit new affiliates BUT OFFER DIGITAL SERVICES

Hold on - they don't actually sell any digital products, they market them

What the actual fuck are you marketing?

When you dig deeper, two sites come up
- AffilGo (online gambling)
-Miggster (mobile gaming)

(we're already down a rabbit hole & it's getting darker)

So it looks like two sites are partners to Crowd1... except, they're not really partners. One person owns all 3 sites.

Stelios doesn't disclose any of his affiliations with these companies. He also owns a Dubai training company (Grithub) where you buy Gold, Silver & Bronze plans

Answer is simple- visit the actual offices in Dubai. Wait, it's registered to an accounting firm called MORE

*Enter Mr. Renz*

Renz is a high ranking Crowd1 guy who invites anyone to come visit. He's probably tired of DMs from big booty huns since he's a ghost (no social media)

So there's a dude named "Bizfriend Jack" who decides to go & visit Mr. Renz. This sounds like a mediocre movie script by an Afda film student.

Bizfriend Jack makes YouTube videos promoting Crowd1. So he pitches up to the office & it's empty! No headquarters - no big deal right?

So far we have no physical headquarters, a dude who owns all the affiliate sites & no actual product.

If there is no product - you ARE the product.

With Crowd1 you can buy packages. A package is essentially a place in the pyramid. More expensive package, higher up you go.

If it's so fucking amazing, why do you have Crowd1 people phoning you up asking you to join?

Simple - if you don't join, they can't make money.

You have to move up the pyramid. Every time you recruit someone, you're essentially building out the base of the pyramid larger.

Instead of soaking up time on OnlyFans - go & watch "Betting on Zero". It's about the Bill Ackman's short on Herbalife (Netflix)

What's the difference between MLM & a pyramid scheme?

Very loosely, if there's no product being sold - it's a pyramid scheme

Oh & Herbalife is a con

Herbalife paid the Federal Trade Commission (FTC) a $200m fine in 2016 for cheating junior salespeople through multi-level marketing (MLM)

Herbalife argue you can make a living selling God-awful shakes. Truth is, very few people do. Most people will lose their initial investment

Another pro-tip:

If ANYTHING requires an "upfront investment" to sell - it means the actual product is not strong enough to sell itself.

You're PAYING to become a sales person? Really?

You're only paying so the person above you in the pyramid can get paid!

What about the money that Miggster & Affilgo generate? Surely those will be paid back to me?

Oh sure! There's a small problem though... Miggster & Affilgo aren't launched. They make no money & they aren't operational.

There is NO product. I repeat. There is no fucking product.

Surely someone has already realized this already?

Yes. MANY people.

- Crowd1 is being investigated for securities fraud in Norway
- Crowd1 is banned in Namibia
- Crowd1 is BANNED in the Philippines (can get you 21 yrs in jail)

(Philippines jails are rough, don't do it)

Here's the best part of the thread:

Crowd1 claims to follow the strictest demands of legal regulations and work with established auditing and law firms

Except Crowd1 hasn't hired a legal person yet. They also don't have a CFO. Rich dad/ poor dad Twitter - swing your CVs across!

@FSCA_ZA please consider this an official submission for the investigation into Crowd1 in SA via public complaint

- All earnings are generated solely through recruitment of new individuals
- Clear lack of corporate governance

(I will fill in any additional motivating paperwork)

Sources:

1. Is Crowd1 a scam?
theaffiliatedoctor.com/is-crowd1-a-sc…

2. Who actually owns Crowd1?
badisaboikanyo.co.za/who-is-crowd1s…

3. Link to Impact Crowd Technology
impactct.com

4. Miggster
miggster.com

5. Affilgo
affilgo.com

6. Crowd1
crowd1.com/about

Lastly, this scheme (Crowd1) targets the most vulnerable & desperate of our people. It's money people simply can't afford to lose and it's up to us to stop it.

@FSCA_ZA - I trust you will do the right thing here. I'm happy to quarterback the submission on behalf of the public.

Here's "Bitcoin Dad" LITERALLY drawing out a pyramid.
You can't make this stuff up (Part 1 of 2)

https://twitter.com/MrRealkagiso/status/1267942676764262403?s=20

Part 2 of 2 - we all love a good pyramid scheme

https://twitter.com/MrRealkagiso/status/1267943082433089538?s=20

Here's a YouTube link to "Betting on Zero" - the documentary on Herbalife. It's brilliant.

The Financial Sector Conduct Authority (@FSCA_ZA) asked I formally document the views on Crowd1.

Here's the request sent across for a full investigation detailing exactly why Crowd1 is dangerous.

Saw people pour their R350 unemployment grants into Crowd1... using their kids school fees to buy Platinum memberships.

That's when it become personal for me.