[quotemsg=18694310,0,269381][quotemsg=18692486,0,1636679]@nitrium care to elaborate on how/why Fig is a Ponzi scheme? I had never heard of Fig before, but nothing that I read about their business model from their wikipedia page even remotely remotely suggests a Ponzi scheme.[/quotemsg]
Did you not watch the YouTube video in my post???
I watched most of it now. There is a single image with the words 'sounds like a Ponzi Scheme' (or something to that effect), with essentially no discussion about it, but otherwise the entire video focuses on why investing in Fig is a bad idea. It doesn't really talk about Fig being a Ponzi scheme, it doesn't even really talk about how pledging to a Fig campaign (à la Kickstarter) is a bad idea, it specifically talks about how the option to invest is a terrible idea. And in that respect, I agree that the video seems to make a good point.
[quotemsg=18695470,0,269381][quotemsg=18695038,0,1866881]If the fact that investing goes primarily to the entities involved with created said product, literally every publicly traded stock on earth is a Ponzi scheme. The issue has nothing to do with having viewed the video, it has to do with the fact that video is nonsense.[/quotemsg]
Huh? If I buy a publically traded stock and it doubles in price, I can double my money when I sell it. If I buy FIG "stock" in a product and it doubles in price I get basically no gain whatsoever because it all gets funnelled back to the creators. Does that sound the same to you?[/quotemsg]
That sounds like a bad investment, but does not describe a Ponzi scheme.