Is LeTV a "Ponzi scheme"?

Tencent co-founder and current angel investor Zeng Liqing posted on WeChat Moments, calling LeTV a Ponzi scheme. He said that people who cannot see an obvious Ponzi scheme like LeTV are not worthy of being in the investment circle, nor are they suitable for starting a business. The WeChat Moments attracted likes from Ma Huateng and Xu Xiaoping, and Fu Sheng also forwarded the WeChat Moments, saying he wanted to "like" it.

Ponzi scheme is the name for investment fraud in the financial field. It is the ancestor of pyramid scheme. Many illegal pyramid schemes use this trick to amass money. This deception was invented by a man named Charles ·"Invented" by Ponzi's speculator. In China, Ponzi schemes are also known as "tear down the east wall to pay for the west wall" and "empty tricks". In short, it uses the money of new investors to pay interest and short-term returns to old investors in order to create the illusion of making money and thereby defraud more investments.

Charles Ponzi was an Italian speculator who lived in the 19th and 20th centuries. He immigrated to the United States in 1903. In 1919, he began to plot a conspiracy. corporate investment, promising that investors would receive a 40% profit return within three months. Then, the cunning Ponzi paid the new investors' money as quick profits to the original investors to lure more people into the trap. . Due to the generous returns for those who invested early, Ponzi successfully attracted 30,000 investors within seven months. This conspiracy lasted for a year before people who were dazzled by the benefits woke up. Later generations said It's called a "Ponzi scheme."

LeTV has nothing to do with Ponzi schemes. It has actual businesses, such as video, LeTV Sports, mobile phones, TV, etc., which are tangible and are expanding rapidly. LeTV's car manufacturing is currently making some progress, at least not like the Ranger. The press conference was held earlier than LeTV, but there was no trace of it. At any rate, LeTV currently has its own actual car, although it is not mass-produced.