If 2015 was the incubation period, 2016 was the year when RevShares exploded onto the internet scene. 2016 was also the year when most investors lost faith in those promoting them. Never before has the word “scam” been used so often by so many.
RevShares, or Adshares, as they are also known, were promoted by well-intentioned entrepreneurs and hucksters alike. The idea was to buy a certain number of shares and, in return have the opportunity to post banner ads and other promotional items on their sites. Most of them featured ads for other revshare sites.
The only problem was that the schemes were promoted as more than just exposure for advertisements. People joined on the understanding that their balances would rise if they surfed a number of ads each day, and with the rising balances, they would purchase more shares, and so on.
Then, at a certain level, they would cash in. Some did. A few marketers could recruit their lists very quickly and make big commissions, enabling them to “max out” on shares and withdraw sizeable sums. Then they moved on to another scheme, and the money dried up for the down-liners trying to recoup their initial investment.
Whoops! No-one was allowed to refer to these schemes as investments. People were buying advertising, and the growing balances were just a bonus. It didn’t take long for most of these schemes to fold, leaving a lot of people out of pocket.
Some schemes had active accounts on Facebook, where owners lectured people who had spent money with them, made videos to tell everyone how honest they were, and to abuse those who didn’t trust their expertise. Some even told their members that while scheme number one had failed, scheme number two was a sure-fire hit. And they did this with a straight face. The failure was someone else’s fault . . . always.
As I mentioned, some of the schemes were initiated by honest and well-meaning types, but even then, people were burned.
There are still a few schemes in operation, and some might be stable and have some sort of future. But their demise is as inevitable as death and taxes. The money will always run out, as did my patience with them.
You should think very carefully before spending one penny on these schemes. A million dollars in advertising credits is useless if no-one is clicking on the site.
Stick to putting your money, time and effort into something that will be bigger tomorrow, and bigger still the day after – something like Wealthy Affiliate.