Beware of the Grifterverse — Juan Mendoza // The MarTech Weekly
Juan Mendoza
The MarTech Weekly
- Part 1Introducing the TMW100 MarTech Awards — Juan Mendoza // The MarTech Weekly
- Part 2 Beware of the Grifterverse — Juan Mendoza // The MarTech Weekly
Show Notes
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02:37Defining the grifterverseA grifter is someone who uses sophisticated skills to deceive people out of their money or talents without resorting to violence. "Grifterverse" is a combination of the words "grifter" and "verse", and refers to an environment dominated by deceitful and manipulative individuals.
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04:50The rise and impact of deceptive practices onlineOpen social networks, the emergence of Web 3, and crypto have fueled the rise of scams and fraudulent schemes online. This poses a challenge to marketers as the prevalence of deception makes the internet less usable and undermines consumer trust in online platforms.
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06:48Reasons for the rise in deceptive practices onlineYou can remain anonymous online and still build a large audience, and the lack of barriers to entry means that more people will attempt deceptive things online. In addition, the medias coverage of these events also entices people to participate in these deceptive scams.
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09:05The pitfalls of solopreneurship strategiesSeveral influencers emerged during COVID-19, selling courses on building one-person businesses by selling digital content. The problem is people are deceived into thinking they can replicate these strategies without personal ingenuity in audience building and product selling.
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13:53Differentiating between deceptive tactics and legitimate value in online coursesThe majority of the world's population lives in poverty and vulnerable individuals may be enticed by promises of wealth and success online. However, its important to consider the instructors delivery on promises, credibility, expertise, etc to avoid falling prey to manipulative tactics.
Quotes
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"The idea of a grifter is more than 100 years old. It's defined as somebody who relies on sophisticated skills to trick people out of their money and talents without committing acts of violence." -Juan Mendoza, Founder, The Martech Weekly
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"The FTC estimated that last year, consumers lost $8.8 billion in deceptive scams online." -Juan Mendoza, Founder, The Martech Weekly
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"If we go back to the end of 2020, the concept of web 3 and crypto being a shady, deceptive place where youre going to lose a lot of money didn't exist." -Juan Mendoza, Founder, The Martech Weekly
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"The more people get harmed or financially swindled out of their money, the less they're going to use the services, which means it's not going to be great for marketers." -Juan Mendoza, Founder, The Martech Weekly
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"You can be anonymous online and build a big audience. So, I think that lowering the barrier of entry means that you're going to have more people doing deceptive things online." -Juan Mendoza, Founder, The Martech Weekly
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"Think about Theranos and Elizabeth Holmes, she just went to prison for 11 years, and the news is still covering her, because if it bleeds, it leads." -Juan Mendoza, Founder, The Martech Weekly
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"When you give billions of people an internet connection, and say to them, all you need to do is build an audience to sell this course, and promise people the world, people latch on to that." -Juan Mendoza, Founder, The Martech Weekly
- Part 1Introducing the TMW100 MarTech Awards — Juan Mendoza // The MarTech Weekly
- Part 2 Beware of the Grifterverse — Juan Mendoza // The MarTech Weekly
Up Next:
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Part 1Introducing the TMW100 MarTech Awards — Juan Mendoza // The MarTech Weekly
Juan Mendoza, Founder and Editor of The Martech Weekly, talks about this month's martech news. Identifying the innovators in the martech industry who are driving advancements and shaping its future remains a challenge despite there being over 11,000 companies. The recently launched TMW100 awards is aiming to change that by ranking the top 100 innovators in the martech industry. Today, Juan discusses his launch of the TMW100 awards.
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Part 2Beware of the Grifterverse — Juan Mendoza // The MarTech Weekly
Juan Mendoza, Founder and Editor of The Martech Weekly, talks about this month's martech news. The rise of online platforms and the accessibility they offer has brought about a significant increase in online fraud and the emergence of what can be termed the "grifterverse." The pervasive nature of online fraud poses a significant challenge for marketers, as it undermines trust, hampers user experience, and threatens the overall effectiveness of marketing strategies. Today, Juan discusses the grifterverse.