Media psychology research on the pervasiveness of social media in today’s cultural and technological backdrop shows that every so often a new app redefines the way we use social media. TikTok, the zeitgeist, is one such app that has caused tremendous impact in the world of social media. As of late 2020, the user base of TikTok has reached 800 Million which hints that it’s popularity cannot be denied. TikTok has extended its influence across different age groups and regional demographics. It even brings out more attention from brands and advertisers looking for their business expansion.
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The app recently updated their community guidelines that aims at turning the app into a safe and inclusive space. It has outlined new regulation on contents that promotes Ponzi schemes, pyramid schemes and Multi-level Marketing (MLM). This move by TikTok in a way helps legit MLM companies flourish. Let's see how.
The updated guidelines mentions that any activity that could cause “financial or personal harm” to users will not be tolerated in the app and the “content that deceives people in order to gain an unlawful financial or personal advantage” will be removed. These new regulations of TikTok, as a first step, covers some critical elements of concerns and sets the seal on the security and trust of its users. This very approach prevents fraudsters from targeting gullible users who are unaware of MLM and related concepts. In spite of the fact that MLM is a highly recommended marketing strategy, there are many pyramid scams that lures the investors. This can be considered as a great attempt to take the edge off the scams and helps to increase the security of its community.
However, this might affect legit MLM businesses in a way or the other which should be avoided. A much more rational approach is required to understand what’s real and what’s fake in the business world. Educating the community through webinars, handouts, and business opportunity reference manuals would help people to be vigilant of the fraudulent businesses and to understand the legal measures associated with them.
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