Don Lapre is an infamous entrepreneur who got his big break in late night infomercials. On his show “The Making Money Show With Don Lapre”, he told people common-sense tips on how to make money. Unfortunately for consumers, Lapre used his infomercial as a way to get people to buy a product that would sell them on buying more of the products his company, New Strategies, sold.
He quickly garnered a reputation as a con artist, and his image wasn’t helped by the fact that he had gotten into trouble with the IRS. His business interest in New Strategies was bought out by Universal Business Strategies, which then used his image in unethical business practices. This further damaged his reputation.
In 1997, he became more infamous after coming up with a product called “The World’s Greatest Vitamin” with Doug Grant. The most offensive aspect of the product was that it wasn’t much different from any other vitamin on the market, but with a name like “The World’s Greatest Vitamin”, they could try to convince people that it was. Even worse, their business model involved over-charging for the vitamin and then offering to send $1000 to anyone who sold the product to twenty friends.
The genius of the scheme was that they would almost always make a profit. If someone happened to succeed in selling to twenty of their friends, they would pretty much break even. If the person tried to sell to twenty friends and failed, they made a lot of extra sales without having to pay up. And either way, they tried to convince the customers to pay for additional products they offered, to help sell the vitamins through websites and sales aids. The likelihood of anyone but Don Lapre actually benefitting from this system was very low.
The FDA eventually required them to stop claiming that the vitamin cured all kinds of diseases, so they emphasized the potential for customers to get rich from the product. What they never seemed to let on is that they were the ones deriving the biggest benefit from all of this, not their customers. Whether or not you consider it a scam, a con, or just a bad business practice, Don Lapre has practically become synonymous with misleading late-night infomercials.
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