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Recode Daily

A get-rich-quick scheme on Amazon

Recode Daily

Recode

Society & Culture, Science, Technology

4.61.3K Ratings

🗓️ 21 October 2020

⏱️ 10 minutes

🧾️ Download transcript

Summary

Hundreds of third-party sellers invested in a hit toy brand operated by a reputable business coach. Now they say they've been left holding the bag. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Today a get rich quick scheme on Amazon.

0:05.0

When you buy something on Amazon box with blue amazon packing tape it might come

0:10.3

on an Amazon box with blue amazon packing tape. It might have been sent on an Amazon box with blue Amazon packing tape.

0:13.6

It might have been sent from an Amazon fulfillment center.

0:16.5

But there's a good chance that what you ordered

0:18.6

wasn't supplied by Amazon.

0:21.3

That's because Amazon isn't just a retail company.

0:24.4

It's also a marketplace where anyone with something to sell can put up a posting and reach a huge

0:29.8

market.

0:30.8

Our brand is selling. market.

0:33.0

Our brand is selling like crazy online right now.

0:38.0

And that means there's a cottage industry of consultants and thought leaders

0:42.0

who claim that they can help you get rich.

0:44.7

Selling toys. That's the hottest category on the hottest e-commerce platform on the

0:52.0

planet guys and we're dominating and not only are we

0:56.1

excited to tell you how we did it but we're equally as excited if not more

1:00.4

excited about working with you to sell those products with us.

1:07.0

I'm here with Jason Del Rice, senior correspondent for Commerce here at Recode.

1:11.0

Jason, thanks for joining us.

1:12.0

Hey, Teddy. So Jason, thanks for joining us.

1:12.6

Hey, Teddy.

1:13.6

So Jason, who do we hear from in that clip and what is he talking about?

...

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