So the FTC is “cracking down on bloggers” forcing us to disclose when we get paid or get freebies when writing posts like this one with Cy Group, or this one with ISellMac.com:
“The revised Guides also add new examples to illustrate the long standing principle that ‘material connections’ (sometimes payments or free products) between advertisers and endorsers – connections that consumers would not expect – must be disclosed. These examples address what constitutes an endorsement when the message is conveyed by bloggers or other ‘word-of-mouth’ marketers. The revised Guides specify that while decisions will be reached on a case-by-case basis, the post of a blogger who receives cash or in-kind payment to review a product is considered an endorsement. Thus, bloggers who make an endorsement must disclose the material connections they share with the seller of the product or service.”
The FTC also has its eye on celebrities. “Celebrities have a duty to disclose their relationships with advertisers when making endorsements outside the context of traditional ads, such as on talk shows or in social media”
Yo FTC, why not just use a little common sense and force EVERYONE IN FINANCE TO DISCLOSE THEIR EARNINGS! And make everyone, bloggers, finance people, taxpayers (maybe give tax credits in exchange for transparency?) write blog posts like this.
I know it’s not your area of expertise, but the SEC sure ain’t gonna do it, they’re the biggest cowards this side of the Mississippi. (no matter how much I rant about frauds and pump & dumps, 99% of them keep trading, although it is pretty crazy TIMalert subscribers are up nearly $50,000 short selling these 2 pump & dumps which the SEC did finally halt)
Bloggers: you weird ugly cowardly people…just show how little money you make because you don’t have a wholly original and testimonialed-to-death product like PennyStocking.
Aight, maybe I’ve made too many millions of dollars at far too young an age so when it comes to talking about income, I’m all screwed up in the head, but I can’t help but think how much better an industry finance would be if people actually disclosed their earnings. The reasons why people don’t: cowardice, fear of competitors, fear of loathing because soooooo many untalented people make far too much $….eventually the cream will rise, transparency will help. Don’t be afraid, resistance is futile.
If you are worthy, you have nothing to fear, it’s gonna be a great few years/decades!
Tags: Blogging, Financial Transparency
