I watched Pyramid Scheme on Prime last weekend. It brought back a lot of memories of what it feels like to be stuck in one when the scheme goes bust.
When I started my career at ~18, I was trying to find ways to fund my trading account. For about two years, I got drawn into a multilevel marketing company that turned out to be a pyramid scheme. I don't think I was deceived by the person who introduced me, but by the company itself. Partly because I ended up introducing a lot of people to it too.
The scene in the series showing the moment the fraud unravelled was surreal to watch. The director has captured the desperation of that moment remarkably well.
I thought this was something that only happened in the early 2000s. I didn't realise that even today, 2 new pyramid schemes launch every day in India. Over 5.5 crore Indians have lost their savings to more than 5,300 such schemes, estimated losses of Rs 10 lakh crore as of 2015, likely far higher now.
One truth my experience has taught me: there is no quick way to make a lot of money, be it trading or any other business. Anything promising returns higher than a bank FD comes with risk. The higher the claim, the greater the risk.
This dynamic has also played a big part in the recent growth of retail markets, people spreading the word that it's easy to make money in stocks. It isn't, and the reckoning tends to come quietly, one account at a time.
And if someone tells you that you can make easy money just by introducing others, run. Almost every single one of those is a fraud.
Spent 30 minutes and ended up booking 0 tickets. Why ? Because the system got stuck at every step and then threw me out in the end ! Awesome work @RailMinIndia Tatkal booking is a waste despite charging extra. The entire system is a waste.
@irctc_app is a JOKE!! Rail ONE app is also a joke. Entire system is shitty and buggy. A person waits, be on time and then gets stuck in the app causing mental stress and self harassment. It’s a torture. @IRCTCofficial is waste. Totally. The Servers. Apps. People. Everything.
@Olacabs Have tried generating invoice for a recent ride, been days, didn’t receive any email. Can you help me with the invoice ? Have sent the details in DM.
Paid a hefty fulfilment fee and handling fee as my order was more than ₹999. Just for that awesome box. No fulfilment fee for ₹998 and if i choose non super-saver, the handling fee was just ₹10. More discount = more fee ?
@ZeptoNow@zeptocares Thanks for the gift box. I shopped for ₹999 just to receive this beautiful empty box with a lot of space inside.
If this is not what you send, then i doubt the delivery executives tamper the boxes. Either way, a big disappointment.
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Unable to train, and Dadar/Chembur pools are too far, time and cost consuming. We deserve answers and a membership extension. This delay is unacceptable!
Kindly look into this issue.
#WadalaPoolClosure#BMC#SwimmingPool
Very poor management by the @TEDxGateway team. Been waiting since 3 hours. Still at the gate ! They invited so many people and now the auditorium is fully occupied. A new way to break the barriers ? #tedxgateway#tedxsalon
@TeachForIndia@TEDxGateway@AdityaBirlaGrp Very poor management! Standing in the queue since 2.45 and now they say that the auditorium is fully occupied ! Why were we invited then !