@Dr.Wright
Dr. Letitia Wright
@Dr.Wright · 1:41

Angel list Says in NFTs are a pyramid scheme

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Hey, it's Dr. Letitia right from the right place. And it's Monday afternoon, and I'm in that little bit of a slump. So I figured I'd do a swell. Maybe it made me feel swell. I'm really interested in NFPs. And, of course, whereas I've been listening to people talk and just gathering any information wherever I can
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@MysticScientist
Indy Rishi Singh
@MysticScientist · 1:50
Oh, man, I think we're in a really precarious time where everybody's trying to protect themselves make money. There's just like this weird mentality of scarcity. And you know how much time you have, you're going to die at any moment. So I think everybody's kind of jumping over board. Really, the smartest thing we should be doing these days is investing in community. Whether those are cooperatives. I don't know if you have adverse effects or feelings about cooperatives
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@Dr.Wright
Dr. Letitia Wright
@Dr.Wright · 1:14
I hadn't really thought about cooperatives, but I am going to take your challenge. I am gonna study up on it. I am going to think about it. And yeah, I'm going to add that on to my future thinking and my positive thinking. I think it would be a great idea and find a way to do it in some communities
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@Swell
Swell Team
@Swell · 0:15

Welcome to Swell!

@Cartier
Ryan Cartier
@Cartier · 4:45

#NFT is not based on recruiting people to give money w/o a product

Anyways, I would actually learn what it is and do a little research and understand that's based on recruiting people to give money, and it's not actually based on product sales, which they say it is because if you look at it, that's not how it works as long as people put the money. And even if they don't sell product, the people above will still make money with respect to the NFT piece
@Cartier
Ryan Cartier
@Cartier · 0:34

Multilevel marketing - modern day term for pyramid selling

Multilevel marketing. That was the other word for A-A-A-A. Pyramid scheme commonly used now, because obviously, pyramid scheme is not the most appealing word. But most people seem to be open to multilevel marketing, but if you actually look into the mechanics of it, it's pretty much the same thing. And a lot of the same companies that were doing pyramid marketing before, or they now refer to it as multilevel marketing. Now
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@Dr.Wright
Dr. Letitia Wright
@Dr.Wright · 1:38
People get into it because they like the product and they figure they can make money. But they're not people who can recruit. And so that's the big mistake. If you're great at recruiting, multilevel marketing can make you a lot of money. If you can't recruit, then this is not the business for you. I believe it's a legit business
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@Cartier
Ryan Cartier
@Cartier · 2:40

Please post link

Business is based on producing something of value to other people and it's to their benefit. And this is why they pay for it. Whereas if your business is based on recruiting people, that alone is the red flag. Also, I looked at your thing again, and I'm like you did say angel list. So if you could please put up the link to where you read that, I'd be very interested
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@Dr.Wright
Dr. Letitia Wright
@Dr.Wright · 2:15
I feel like you understand exactly what is being said. They may have been saying it's part of a bubble. I definitely think NFT's are part of a bubble just because we don't understand it and everybody's kind of rushing in. And quite frankly, there are people who are willing to throw money at something to try to understand it. That's their way of learning and their way of figuring out. So I definitely don't think NFTs are a scam
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@Cartier
Ryan Cartier
@Cartier · 1:33
I think it's really important that people have this in their mind that right now it is an exciting space and to be fully prepared for there to be some waves and similar to if you look at Bitcoin over the years, sometimes there's a lot of excitement about it and sometimes there isn't. That is something an investor would want to be keeping in the back of their minds, prepared to deal with the technology separate from the pricing
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