MagneticBuilder Review: $29.95 recruitment scheme
There is no information on the MagneticBuilder website indicating who owns or runs the business.
The company’s domain (“magneticbuilder.com”) was registered on the 27th September 2012 however and lists an “Optimus Dale” as the administrative owner of the website, sharing the same Arkansas address as the listed domain owner (listed as the company website itself).
guaranteed certainty offchance that “Optimus Dale” was a madeup name, further research revealed that it is a “stage name” used by “Sherm Mason” (right).
Taken from a “Magic Dolla” affiliate’s recruitment page:
Optimus Dale is the owner of Magic Dolla. He is the financial arm behind its creation.
Optimus Dale is a stage name as he wishes to remain anonymous due to a little “scorn” he has witnessed by some, directed at Sherm Mason.
Scorn you say, I wonder why…
“Magic Dolla” is a $1 recruitment based pyramid scheme. That’s one possible reason.
Other websites hosted on the same private server as MagneticBuilder could also serve as other reasons behind scorn directed at Mason.
- “Downline IPO” appears to be some sort of recruitment based lead generation co-op, dealing exclusively with prelaunch opportunities the admin (Mason) has enrolled himself in
- “2×2 Evolution” is a 2×2 matrix based pyramid scheme
- “It’s 10 bucks” is a $10 matrix-based entry pyramid scheme
- “Lol2bank” appears to be some sort of $25 replicated capture page site
- “Fortune 200x” (now defunct and offline) was a 2×10 matrix-based pyramid scheme
- “36kin10weeks” promises visitors the chance to “earn $36,000 within 10 weeks of joining”, however fails to disclose any information unless they sign up (recruit, recruit, recruit!)
- “Flip 20” is a 2×1 matrix-based $10 pyramid scheme
The above schemes of course are just the tip of the iceberg, with Google delivering up many, many more possible reasons for scorn to be directed at Mason.
Is MagneticBuilder just another reason to throw onto the pile? Read on for a full review.
The MagneticBuilder Product Line
MagneticBuilder have no retailable products or services. Instead, MagneticBuilder members are only able to market membership to the company itself.
Bundled with each paid membership are advertising credits, which can be used to display advertising on the MagneticBuilder website.
The Magnetic Builder Compensation Plan
With membership the only thing sellable through the MagneticBuilder income opportunity, commissions paid out to affiliates revolve around the recruitment of new MagneticBuilder members.
MagnetBuilder members are paid to recruit paid members into the scheme. Paid membership is $29.95, with free members earning $5 and paid members earning $15 per new paid member recruited.
Offered only to paid members, for each paid member recruited who in turns recruits a paid member, the original recruiting paid member earns an additional $10 commission.
Ie. You are a paid member who recruits paid member X. For each paid member that X recruits, you earn $10.
Membership to MagneticBuilder comes in two varieties, free and paid. Free membership is free and paid membership is $29.95.
With nothing being marketed or sold other than membership to the company itself and 100% of the commissions paid out being derived on the payment of membership fees, MagnetBuilder fits the definition of an obvious pyramid scheme.
Given past endeavours of admin Sherm Mason, this unfortunately comes as no surprise. This year alone there Mason has launched several short-lived schemes which, due to their recruitment dependency, have either stalled or collapsed.
One could make the argument that advertising is being bought and sold through MagneticBuilder, however advertising is only a factor once a prospective member signs up and pays for their membership. This being the case, any advertising is bundled with membership, rather than actually being bought and sold at a retail level.
MagneticBuilder themselves acknowledge this in describing their product line:
We offer both Free and Pro memberships.
When all you’re doing is selling memberships and paying commissions on the sale of said memberships, you’ve got yourself a pyramid scheme. Once people stop joining the commissions dry up and the pyramid scheme implodes.
Watch Sherm build a pyramid sideways here:
Magnetic builder… sounds like a kid’s toy.
Makes perfect sense to me. Why do all the haters have to bash all these life changing opportunity schemes? Oh, and I am glad our current president won 4 more years. Hope we get some change!
He has now started a new scam called abundancedoors.com