Passive Income: The Modern Pyramid Scheme
Many entrepreneurs are building businesses by selling the dream of passive income.
Maybe you’ve seen a Youtube video titled something like:
“February Passive Income Breakdown: EXACTLY How Much I Earned From FOUR Income Sources.”
Or you might have seen an ad like this:
“Want to make money while you sleep? Want to achieve financial freedom by creating passive income? I’ve done it, and now I’m giving my secrets away. Sign up for my FREE webinar where I’ll teach you the exact steps I used to build a SIX FIGURE coaching business.”
I’ve watched the videos. I’ve attended the webinars. I’ve read the eBooks. Nearly all are just an elaborate sales pitch for an online course that costs anywhere from $49 to $4,000.
Q. What will you learn in these courses?
A. How to make money online.
Q. How do the teachers make money online?
A. By selling courses.
For many of these “entrepreneurs,” passive income is a close relative of a pyramid scheme.
These are people who built a modest audience, made a little bit of money, then went on to make far more by selling the dream to others. And some…
