The company goes by the name of QuestNet Ltd. and the subsidary that sells the "Antique" coin is called Gold Quest international and operates out of Honk Kong.
Very convincing arguments were presented to lure people into buying these coins, mainly citing "Poor Salary" paid to software engineers and the number of people who had already bought houses, cars etc.. etc.. within a hundred days of joining.
This entire business can be simplified in an alternative way: "I will let you steal from me and will help you steal two others. You share profits with me." The steal here is exponential and the profit sharing, Linear. It is obvious who benefits.
Tried to convince a few infoscions at the "presentation", that it is mathematically provable that a majority of those in the MLM tree would end up as losers. Their strategy is to form a binary tree and distribute money whenever 3 people join both your left and right nodes.
Assume that everybody in the world joins your MLM tree. Let the tree miraculously happen to be balanced - the "overall" best case scenario for you and the worst case scenario for the fraudsters:
The simplest way to rubbish this scheme is that HALF of the tree is in the leaf nodes and those Leaf nodes would not make any money because
they can't have three people in their left and right nodes. Same argument holds for the penultimate level of the tree. So a minimum 75% of those who join this scheme are doomed to lose money in the best possible scenario.
Other Interesting Stats:
Assuming an "average" binary tree with a very conservative skew factor of "2" and 100 million people (rough estimate of how many people in India can theoretically afford it) joining the tree. It turns out that 98.46 million of those would end up as complete losers and Indian Economy would be bereft of 25000 crores.
Considering the face value of the "Antique" coin - 7k and the price at which it is sold - 33k, the guy (a gal in this case) at the top of the tree can swindle a minimum of 10 crores in conning just 4300 people. And This number has already been crossed.
That said, you can *still* make a loot and get away with it if you find enough Fools to join your tree. And that, I suppose is not a big problem.
P.S: Impertinent/Verbose mail was to convince at least one soul who might be led astray by the fallacious scheme. Apologies to those who find it irritating.
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10 comments:
Good article on MLM... Better stay away from MLM if we are not good at it.
thanks for the info...
Thanks for the information.....Its better to stay away from such scams.
itz fuck'in easy to blog abt anything without knowing how great it is!!
I hav also not joined that scheme..bcas of my personal reasons..but the scheme is really gud!!
Pls dont comment on anything untill u really know about this..
U told if every body joins inn this business..leaf node gets affected...
"Ass"ume if every one in the world buys Hero Honda..will the company shut the production!!
Guys!! Think logically b4 u shit some thing!!!!
Well dude what you are doing is a wonderful piece of mathematics out here , but there is something u should remember always , the business will thrive not because it has just one line of product but multiple product lines , not everyone is interested in gold coins or medallions people buy other products which are soon to be launched this year in many companies !! If you really think this can end then DELL should have busted long time back , once u get a product u buy it again cos u liked it ; its purely logical and what quest is doing here is enabling a mode of interactive marketing and giving the end consumer a chance to benefit out of the hefty payments done to a brand ambassador of a company ? Why do you think coke is price at rupees 10 , is it because its expensive to make , is it because its expensive to do the logistics ,no because a lot of money goes as a waste in teh pepsi cola commercial war ; there is no end to this drama !! and will never be and who is gonna suffer the poor drinker !! cos he will drink what he likes not what aamir khan or amitabh or SRK likes cos what he likes is what he wants ; quest is just removing this very perception and i think its doing just fine and will do fine in the future too and then u will definitely apologize for being a fanatic , if infoscions are doing it the reason is clear they are better than u and much more apt in understanding what comes in the future !! Dude life is about changes ; this is teh new dimension of interactive marketing and it sure will be a success , ppl who see this happening will earn and ppl who watch will just watch and keep watching and when they might decide to join it might just be too late ; cos they would have already made losses by then !!!
Enjoy buddy
BIKS
even a moron too have a dream to achieve....what shall i tell u all guys,who juz waste time in unnecessary critisicms. ur true intent wud be like seeing ur friends success..after u rejected his invitation to the business....we dont compel anyone to join this...even then why 25Lakhs of people r doing dis....get some time and think...if this is a scam...anytime lossy Shares are also scams..mutual funds also scam sice they say it is risk before itself........u not even claimed to bea moron.....root urself where u r now and see our success......
Nice work Jayaraj ....
its true ! & as of now we can C how the beneficiaries of the saw called boon reacting verbously 2 this topic .... does it fell itching dude ??? fear of the chain getting collapsed ? & money 4 free is gonna stop ? for further ref check out http://en.wikipedia.org/wiki/Goldquest there r many betta ways 2 end up in a prison :D
Let me ask just one qn to u all so called IR guys, r u giving ur money into the safe hands, so that the Indian Economy can grow? Is Quest investing any money, earned from this MLM structure, within India itself? My personal observation is NO. Ya, if u r selfish enough to earn money by any means...go for it.
>>"Ass"ume if every one in the world buys Hero Honda..will the company shut the production!!
But, Hero Honda company does not force its customers to sell its product to another 2.
A simple example....
Lets say, there are 10 people in this world, excluding you.
(chosen a small number for simple understanding)
And you managed to join all 10 under you in the QuestNet tree.
In the best case,
(forget about the gold coins)
3 persons will get 11000 check
2 persons will get 3000 check (I am not sure on the exact amount. It should be from 2500-3500)
6 persons will end up with empty hands
Who are those poor fellows, who haven't received a single check yet?
Aren't they your friends? or your friends' friends?
One may defend that the population will increase.
Here is the explanation...
For the existing members of the tree to get their money back (say 2*11K checks), the population should increase from 10 to 46 (460% increase in population).
How long should they wait to reach that population?
And what about the newcomers?
Does it make sense???
Awesome arguments fellas
can some body explain me, whats behind every, Tom, Dick and Harry buying a phone worth 30k?, can our counrty's economy fall cuz of it ? Everyone knows the funda of softdrinks, whats the actuall cost of soft drinks you buy every now and then ? and do you know the money these companies make ?
and does our economy shake because of it ? come on guys even if zizillion people lose 30k or less ( given the cost of the product they buy) they would blow it anyways in soft drinks, cell phones, fast food or some fancy gadget or a sports car or a bike, being a choice of their own. In the world we live, look back and try to recollect how many 30ks have u spent effectively? you would be one among them.
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