I remember a Ponzi scheme doing the rounds when I was at school.
It was popular in, IIRC, 1978, 79, or 80.
Can't recall the name but it was basically a list of 10 or 20 names, and you would get your name on the list by paying each person £1 - something like that. and then you would make your money by the list carrying on and being sold - so each time the list was sold, you would drop one place futher down but get a payment.
Somethinng like that, I don't recall the details, but I do recall that it was obviously a rediculous idea and that by the time the list went round a few times, the only way to make money was if every person in the world was involved and the next step would have to involve ETs coming in to join in.
My Schoolmates didn't get it though and quite a few joined in. a couple made £20 or something from the first selling on but most just threw away their cash doing it.
going to have to see if I can find this now! wikipedia here i come ...
this is a good description here of the same kind of game -
https://activerain.com/blogsview/4335257/pyramid-scheme-was-very-popular-in-the-1970-s
so in fact you get pushed UP, not down and then after a while you (if it keeps running), make your money.