After suffering its worst recession on record, Brazil is also undergoing its worst post-recession recovery. Growth estimations for 2019 are being reduced week-on-week and if it keeps up its current pace, Brazil will only return to pre-recession levels by the third quarter of 2023. This economic scenario automatically has a knock-on effect on the personal finances of the Brazilian population. Unemployment and underemployment are high, and even those in work are seeking ways to boost their income.
While many are taking on extra jobs—services apps such as Uber, iFood and Rappi have become the “biggest employer” in the country, according to the Brazilian Institute of Geography and Statistics (IBGE)—others are scrambling for “get-rich-quick” solutions, which has boosted this niche in the publishing and digital content sectors.
The trend came to the forefront of the Brazilian news in March, with the scandal surrounding a series of advertising campaigns from Empiricus Research. In one particular YouTube sting, the fresh-faced Empiricus employee Bettina Rudolph made the outlandish claim she had increased her net worth by over BRL 1 million in three years, using the advice her company offers.
The mathematics behind her boasts were soon dismantled, and Empiricus was placed under investigation by Brazil’s Securities Commission (CVM) for alleged misleading advertising.
However, the Bettina case is just the tip of the iceberg, with...
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