We so often see ads about how we’re on the verge of the “greatest technological disruption of all time,” with fortunes to be made that recall the gilded-age empires of Andrew Carnegie and John D. Rockefeller, and that’s probably my favorite kind of financial pornography: Daydreaming about the charitable foundations we’ll found, and the universities that will bear our names as our vast fortunes, too large even really to be counted, let off a glow that reflects on the adoring faces of our friends and family.
So yes, this latest pitch from Jeff Yastine caught my eye. It’s going to be ridiculous and misleading, I’m sure, they all are, but the daydreams persist… here’s how the ad gets us started:
“The End of the Internet
“Within the next three years … a little-known technology could make the internet obsolete … and unlock a potential $48 trillion windfall. (It’s NOT 5G)
“Breakthroughs THIS BIG have been known to turn small stakes into $52,000 … $76,000 … $340,000 … even more than $1 million….
“We’re at the threshold of the greatest technological disruption of our time.
“What the automobile did to the horse and buggy …
“… the personal computer did to the typewriter …
“… and the smartphone did to landlines…
“Is happening again…”
It’s a pitch for his Total Wealth Insider, which is one of Banyan Hill’s “entry level” newsletters that they use to build marketing “upgrade” lists for their more profitable high-end newsletters (most publishers do this, by the way, not just Banyan Hill — most of the profit is in the $1,000+ letters and “trading services”, and the best time go get someone to buy those is when they’re in the first glow of excitement about their first $99 or $49 subscription).
And as Banyan Hill has been doing for a while with these ads, it’s a sneaky offer in that they let you subscribe for as little as $47 for your first year, but they also throw in a small-print “bonus” of a three-month subscription to Automatic Fortunes, and then each of those newsletters automatically renews at $97/year. So if you don’t pay attention or cancel anything, your $47 sub quickly becomes a $194 annual commitment.
But anyway, the basic gist of the ad is that the internet is about to be replaced by the “Hypernet” that will be much, much faster — and as the pitch notes, it’s not about 5G (though 5G will also increase the demands on networks, since it will increase data transmission, so the hypernet will help with that as well). Here’s how Yastine describes it:
“The internet — as we know it — is on the road to extinction.
“In as little as three years, it could cease to exist in its current form.
“Instead, you’ll be accessing the world’s information through a faster, more powerful new breakthrough technology I call…
“Researchers at Oxford University have clocked the Hypernet at speeds 1,600 times faster than even the fastest home internet connections.”
Well that sounds good, right? Faster is better? What else do we learn about this “Hypernet” business? More from the ad:
“… the Hypernet is not an untried technology.
“The Navy SEALs are already using the Hypernet for high-speed super-secure communications.Are you getting our free Daily Update
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