James Phang's student was the founder of what?!

Cost Lab anyone?

Those of you in the network marketing industry or are pretty business savvy might have come across this company the last few years. I believe it had an office within the CBD area, though I can't confirm.

Apparently it was a failure.

Based on what I was told, the system they use is uncannily similar to that of Sunshine Empire's, difference being they had different products and that they guaranteed payouts. The latter difference being emphasized in black and white.

Sunshine, I believe, states that payouts are not guaranteed. In emphasized in black and white.

Hmm...

I was also recently informed that the founder of Cost Lab was (is?) a student of James Phang, the founder of Sunshine Empire.

Which leads me to another point...

I have a friend who has recently become a pretty big success in Amway. About two years ago, we talked about some of these schemes starting and failing and he told me, matter-of-a-factly, that he didn't mind participating. Why? Because:

1. He knew a few of those people who started such schemes and
2. As a result, he was always one of the 'Founding Members' and was guaranteed to make money.

He noted that many such money games were started by the same people.

He also reached the same conclusion as me: that if you want to join such games, join with eyes wide open and if what you are offered is in fact in its early stages, you can take the risk and join it. We also agreed that, since people are going to lose their money anyway, might was well lose it to you.

One of such companies he joined early in? Swisscash.
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Update 07/11/07

From the Straits Times -

Added to the list of failures:
Number One Product (NOP) - marketing arm for an Indonesian resort project, Magic Kingdom, which was never built.

Hmm...sounds familiar..