After months of waiting and promises, AGLOCO flagship software, the Viewbar, is released — emails have been sent out to all participants.
I do not participate in AGLOCO, so, I didn’t get one, and I had to get the news from Net Business blog. Some people are joyful and glorious. Some, like me, are quietly thinking about the consequences.
AGLOCO took the affiliate marketing on the new level. You didn’t have any product to sell, you didn’t have any money to earn. You just recruited, recruited and recruited, hoping that they will release the Viewbar, hoping that they will go public and hoping that they will share revenues with you.
Idea is quite lame, scam nature is evident and yet, Internet hype is going beyond all expectations. Affiliates praise AGLOCO, and make their visitors sign up, who also praise it.
More aggressive marketers like John Chow recruited over 17,000 members in their downlines; thousands of blogs are writing about AGLOCO; release of its Viewbar will be treated as national news when morning will come to the US.
Still, being a product-less, recruiter MLM, it is nothing more than Ponzi scheme.
If AGLOCO will ever monetize, it surely will bring attention of the Federal Trade Commission, being a pyramid scheme.
Back in November, Techcrunch called AGLOCO a Web 1.0 undead. I support whole-heartedly.
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You might be right when you call Agloco a lame idea, but it seems that you are ignorant of the definitions of a scam, pyramid and ponzi schemes. So do your homework before declaring something as such. You didn’t even offer an analysis of why you concluded it as such. So how can you be called an SEO consultant?
Skelax,
Sorry, but I’m not so sure who is ignorant about Ponzi (it is a surname, so must be capitalized) scheme definition.
Ponzi scheme (to quote all-knowing Wikipedia) is a fraudulent investment operation that involves paying abnormally high returns (”profits”) to investors out of the money paid in by subsequent investors, rather than from net revenues generated by any real business.
Yes, I must admit that AGLOCO is quite unlike any other Ponzi scheme, but that’s only because it has two classes of investors — advertisers and participants. Advertisers pay, participants get profits out of money paid in by subsequent advertisers that enroll into program, rather than from net revenues generated by any real business (maximum amount of 5 hours of surfing per month surely indicates that served advertising isn’t a form of business).
It may deviate too far from classical Ponzi to be legal, but it is Ponzi nevertheless.
If you want to dispute, go on.
Jadehat.