Millionaire Network, the company that promoted itself as being owned by milllionaires and making millionaires has decided to shut down without notice, leaving publishers in the cold with no way of knowing if they are going to ever be paid. Another network that many “experts” and “journalists” were paid to promote turns out to be nothing but perhaps a façade held together by flashy lights, a huge-ass booth and photogenic owners.
It’s obvious the industry hasn’t learned the lessons of the past. Those who pimp out their booths like brothels, have their employees dress in mini-skirts and like gamblers, aren’t always the best business people to do business with. In all of the “best of surveys” that required pay-for-play, Millionaire Network ranked high, but barely had any votes in the PMI surveys over the last four years by affiliates who knew the industry. Go figure that they were able to promote themselves as the best of the best, but those in the know kept far away from them.
Another network that promotes itself as the network for the ultra rich, the ultra-affiliate, the ultra-cool, is gone. I’m not going to make assumption on why they shut downs — but you see these type of networks shut down left and right every year or so. Look who promoted these companies, look who promoted Millionaire Network: the get rich fast gurus, the guys who screwed over their bosses, the people who will promote anything if they are paid the right amount and put their name behind it for a quick buck.
Every so often some asshat decides to attack me for my attitude about the industry, since I am always talking about compliance, the FTC and exposing the BS in the industry. However, time and time again I have warned the industry about guys like EWA, like Epic Direct and Millionaire Network when I knew they were going out of business. It’s about time that we stop listening to the chief ass-hats who promote and pimp companies with zero business plan and owners who are more interested in where to get a brick of coke and two hookers than actually taking care of their affiliates.
Good news is that most likely someone is a millionaire from the Millionaire Network. As of even this last month, the company has enough money to be hiring people and was talking about how great they were doing. I’m pretty sure the owners made a strategic decision to walk away, take the cash, leave their employees without jobs and their affiliates no way of ever getting paid. Someone is going to be a long-term millionaire, and once again it’s not the affiliates.
Seriously, I’m sick of reporting on these companies.
Here’s the FU letter that they sent out. Just if you curious, “financial circumstances beyond our control” always means “we fucked up and wasted money on fancy cars and really hot chicks.”
To Our Publishers, We regret to inform you that as of this morning, for financial circumstances beyond our control, Millionaire Network, LLC has closed its business.
We are in the process of pausing all advertiser campaigns and hope to have them all paused by the end of the day today.
The company will be winding up its affairs as quickly as it can and will liquidate its assets and distribute the proceeds to our creditors on a pro rata basis thereafter.
We truly regret that these actions are necessary and we deeply appreciate your business. We wish you all continued success in your future endeavors. Sincerely, Parker, Wiz and Dean