Financial Analyst Calls Second Life a Pyramid Scheme

Posted by CmdrTaco on Wednesday January 24, 2007 @01:56AM from the get-in-on-the-ground-floor dept.

Petey_Alchemist writes "Silicon Valley gossip rag Valleywag is carrying a story about Second Life being a new spin on the old pyramid scheme. The article, which consists mostly of selections from the report of financial consultant Randolph Harrison, suggests that not only are most people deceived about the amount of money they can make in Second Life, but also about how easily they can withdraw it. It says 'Like the paid promotion infomercials that run on CNBC, sadly SecondLife is a giant magnet for the desperate, uninformed, easily victimized. Its promises of wealth readily ensnare those who can least afford to lose their money or lives to such scam in exactly the same way that real estate investor seminars convince divorcees with low FICO scores to buy houses sight unseen with no money down.'"

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Second Life? by EveryNickIsTaken · 2007-01-24 02:10 · Score: 5, Interesting

I'm beginning to think that some media conglomerates must hold a stake in Second Life, and that's why we keep reading/hearing "news" on it.
Compared to other online communities or games, Second Life is miniscule.
"...only are most people deceived about the amount of money they can make in Second Life, but also about how easily they can withdraw it."
Yeah. Right. The reason people start playing Second Life is because their First Life is boring or sucks. Not because they "heard how much money they can make off it."