Make Money Fast

I would hope nearly all of The Long Run blog's readers know instinctively the problems with pyramid schemes and their fellow traveler the "multi-level marketing" errr "opportunity". The Internet is always adapted by the MMF (that is to say the "make money fast", not "money market fund" or "male/male/female") types. Back before the web, when USENET was the social media venue of choice for many, the scourge of USENET was the "make money fast" post. Wiki has a pretty good history of it. Cult animator Mike Jitlov did an enduring parody of it called "Big Money Now". (Be sure to click the "hit space bar" links at the bottom to get the whole uber long work of art.)

Lottery Scams: can you game these games of chance?

First up, a big thanks to Brett for inviting me to be part of this blogging project. When Brett first asked me I was like "Really? You and Jon are both Wall Street types. I'm just some schlub who does a podcast with a $5 microphone. What can I do?" Brett is under the impression I have a good eye for scams and suggested I write about such. Hey, I can do that. Intelligent people not only fall for woo and bad financial advice but they also fall for many, many get-rich-quick schemes. Think how many of those Nigerian bank scam emails you get a week or even a day. What's surprising is how many intelligent people fall for it. I mean, if you were getting two or three similar sounding emails a day or a week, why would you think "sure those other guys are scammers but this guy, Prince Stelco, is the real deal."

Anyway, my inaugural post isn't about Nigerian bank scammers but about the most common "something for (nearly) nothing" offer we encounter every day. The lottery.