We’ve witnessed some jaw-dropping business scandals that raised eyebrows and sent shockwaves through financial corridors. Picture this as an economic rollercoaster with twists, turns, and a fair share of ups and downs. So grab your seat belts as we ride through ten business scandals so big they shook the economy.

Related: 10 Scandalous Pyramid Schemes

10 Deepwater Horizon

The Deepwater Horizon oil rig disaster was an event that sent shockwaves through the business world, leaving an impact on the economy. In April 2010, an offshore drilling rig operated by BP suffered a blowout, leading to a massive oil spill in the Gulf of Mexico. The incident resulted in the loss of 11 lives and caused damage to marine life and coastal ecosystems.

At the heart of the scandal were oversights and negligence in safety procedures. The blowout preventer, a crucial safety device, failed to activate, allowing millions of barrels of oil to gush into the ocean for 87 days before the well was capped. The environmental fallout was devastating, with damage to fisheries, wildlife habitats, and the livelihoods of communities along the Gulf Coast.

BP faced immense public backlash, legal battles, and a significant financial toll. The company eventually pleaded guilty to criminal charges and agreed to pay billions in settlements and fines. The Deepwater Horizon disaster reminds us of the importance of corporate responsibility and the consequences that can arise from negligence in the pursuit of profit.

9 Lehman Brothers

In the mid-2000s, a financial storm was brewing. Lehman Brothers, a giant in the banking world, was at the heart of it. The scandal that rocked the economy was none other than the subprime housing crisis.

Lehman Brothers got tangled up in the subprime mortgage mess like many others. Banks were lending money to people who couldn’t afford it, particularly for homes. These were called subprime mortgages. Lehman Brothers invested heavily in these risky loans, thinking the housing market was invincible.

However, in 2008, the bubble burst. People couldn’t pay their mortgages, and the value of homes plummeted. Lehman Brothers faced a mountain of debt and, shockingly, filed for bankruptcy in September. This wasn’t just any bankruptcy. It was the largest in U.S. history at the time.

The Lehman Brothers collapse sent shockwaves through the financial world, triggering a global economic crisis. Many lost their jobs, homes, and savings. The subprime housing crisis taught us about the dangers of risky financial practices, leaving a lasting impact on how we view and regulate the world of finance.

8 Turing Pharmaceuticals

Turing Pharmaceuticals’ price gouging is a notorious chapter in business scandals that left a lasting impact. In 2015, the company, led by CEO Martin Shkreli, gained infamy for increasing the price of Daraprim, a life-saving drug used to treat infections. The price skyrocketed from $13.50 to a staggering $750 per pill overnight, causing an uproar across the nation.

This scandal shed light on the darker side of the pharmaceutical industry, where profit motives sometimes overshadow humanitarian concerns. Daraprim, a medication vital for those with a compromised immune system, became unaffordable, leading to concerns about access to essential healthcare.

The public outrage prompted investigations, and Shkreli, dubbed “the most hated man in America,” faced legal consequences. Turing Pharmaceuticals’ actions sparked a broader conversation about the ethics of drug pricing and the need for regulations to prevent such exploitative practices.

This scandal highlights the importance of ethical business practices and the potential consequences when companies prioritize profits over people’s well-being.

7 Bear Stearns

Bear Stearns Companies Inc., known for its role in the investment banking industry, faced a tumultuous downfall in 2008. At the heart of the scandal was the subprime mortgage crisis. The housing market collapse triggered a chain reaction across the financial sector.

Bear Stearns, heavily invested in risky mortgage-backed securities, faced severe financial strain. In a desperate attempt to stay afloat, the company faced a liquidity crisis as clients and investors began losing confidence. The situation reached a critical point in March 2008 when Bear Stearns teetered on the edge of bankruptcy.

The Federal Reserve and JPMorgan Chase stepped in with a bailout plan to prevent a complete financial catastrophe. JPMorgan acquired Bear Stearns at a mere fraction of its market value, marking one of the most significant moments in the 2008 financial crisis. The Bear Stearns scandal shows risky financial practices and the far-reaching impact a single company’s downfall can have on the broader economy.

6 Valeant Pharmaceuticals

Once hailed as a rising star in the pharmaceutical industry, Valeant Pharmaceuticals faced a staggering downfall. Their demise was caused by a scandal that left investors and the public in disbelief. At the heart of the controversy was Valeant’s aggressive drug pricing strategy. The company would acquire existing medications and then hike prices, sometimes by astronomical percentages. This garnered widespread criticism and drew the attention of regulators and lawmakers.

As investigations unfolded, it was revealed that Valeant had engaged in questionable accounting practices, creating a web of complex relationships with specialty pharmacies to boost sales. These practices inflated the company’s revenues, leading to a false portrayal of its financial health.

The fallout was swift and severe. Valeant’s stock plummeted, erasing billions in market value. Executives faced legal scrutiny, and the scandal sparked debates about ethics and corporate responsibility. The Valeant Pharmaceuticals scandal shows us what happens when companies prioritize profits over integrity. It left a lasting impact on the pharmaceutical industry and prompted a reevaluation of business practices to prevent such issues.

5 Barclays Libor Manipulation

The Barclays Libor Manipulation scandal is a shocking episode that shook the economy. Libor, or the London Interbank Offered Rate, is a global benchmark interest rate. In 2012, Barclays, a prominent British bank, faced scrutiny when it was revealed that they manipulated Libor rates to benefit their trading positions.

Essentially, Barclays dishonestly reported lower interest rates to appear more financially stable than they were. This deceitful practice had far-reaching consequences, impacting the integrity of the global financial system. The scandal tarnished Barclays’ reputation and raised concerns about the trustworthiness of other financial institutions.

As a result of the scandal, Barclays faced hefty fines and legal repercussions. The incident shed light on the need for stronger regulations and oversight in the banking industry. It served as a wake-up call for businesses and regulators alike, highlighting the importance of maintaining transparency and ethical practices in the financial world.

4 Enron

In the early 2000s, Enron was an energy company that, at its peak, was considered a model of success. However, it all came crashing down when it was revealed that executives had engaged in widespread financial fraud. They manipulated accounting practices to hide debts and inflate profits, painting a rosy picture of the company’s health when, in reality, it was on the verge of collapse.

The scandal led to thousands of employees losing their jobs and retirement, and investors faced significant financial losses. Enron’s tale serves as a reminder that even the mightiest can fall when honesty and integrity are compromised. The Enron scandal prompted a reevaluation of corporate governance and financial regulations to prevent such catastrophic events.

3 Facebook Privacy

Imagine sharing your secrets with a close friend, only to find out they’ve been telling everyone. That’s what happened when Facebook, the social media giant we all thought was keeping our secrets safe, was mishandling our personal information.

In 2018, it was discovered that a political consulting firm, Cambridge Analytica, accessed data from millions of Facebook users without their knowledge or consent. This data included personal details, likes, and even friend lists. It wasn’t just a small leak—it was a floodgate opening to potential misuse of information.

The scandal raised concerns about user privacy and sparked a global conversation about the responsibilities of tech companies. Facebook’s CEO, Mark Zuckerberg, faced scrutiny as he testified before Congress, promising changes to protect user data. This incident prompted users to rethink what they share online. It led to increased calls for better laws to safeguard our digital lives.

2 Baninter

In the early 2000s, the Dominican Republic faced a financial earthquake. Baninter (Banco International), once a respected bank, crumbled under the weight of fraudulent activities. In 2003, it was revealed that bank executives had been cooking the books, creating a façade of financial stability while hiding debts. The scam reached a staggering $3.7 billion, leaving investors and customers in disbelief.

As the truth unfolded, panic rippled through the nation. People who had trusted Baninter with their savings faced financial ruin. The government had to intervene, injecting billions to stabilize the economy and restore confidence in the financial system.

The Baninter scandal shook the Dominican Republic’s economy and underscored the need for stringent oversight to prevent similar catastrophes. This chapter in financial history teaches us that trust and honesty are the pillars of a stable economy. When those crumble, the repercussions are felt by everyone.

1 Jerome Kerviel

Jerome Kerviel, a former junior trader at Société Générale, found himself at the center of a financial storm in 2008. He accumulated a staggering €70 billion of unauthorized trades, surpassing the bank’s risk limits. His actions shocked everyone, as the losses jeopardized the stability of one of France’s leading financial institutions.

Kerviel’s risky maneuvers included fictitious trades and deceptive practices to hide his activities. When the truth came to light, it led to panic in financial markets. It prompted a massive bailout operation by Société Générale. The scandal exposed flaws in risk management systems within the banking industry and raised questions about accountability.

This real-life financial thriller drives home the need for transparency, oversight, and ethical behavior in business. The Jerome Kerviel trading scandal remains a landmark event that shaped discussions on financial regulations and the need for stricter controls to prevent such economic scares.

When someone refers to something as the cost of doing business these days, they generally refer to something that sounds out of line or unfair. It’s an indictment of how we view business in general that this has become a turn of phrase that can be used in everyday life. We recognize that business, no matter what kind of business it may be, is going to cost you. How much it costs can be surprising.

10. Item Returns Cost US Retailers Over $816 Billion 

When was the last time you returned something to a store? Maybe it was broken, food that had gone bad, or something you just didn’t like once you got it home and looked at it. Have you ever considered what that means to the business that accepts the return? Most of us don’t, but the cost of retail returns to businesses is an almost baffling $816 billion per year. That works out to more than what the US government spends on education training and employment programs in a year.

In many cases, there are multiple levels to how a return item costs a company money. For instance, if you return your Amazon order, Amazon pays the postage to take it back. A number of things can’t be restocked and sold to somebody else for various safety reasons. Other items are so inconvenient to restock that they’ll throw them out instead. 

About 16.5% of all retail sales are returned by consumers. Holiday returns alone account for $171 billion in losses. Fraudulent returns make up around $84 billion in yearly losses. 

9. The Original Xbox Cost Microsoft $4 to $7 billion 

The console gaming market was worth $37.9 billion in 2022, and it’s only expected to grow year over year. The market would be nowhere near as big as it is without the Xbox versus PlayStation battle that has fueled for decades now. 

Microsoft’s decision to join the console Wars and create the Xbox looked completely foolish when it started back in 2001, but it began to make a lot more sense. This is all because Microsoft lost between $4 billion and $7 billion on the original Xbox. 

Microsoft worked quickly to push out the original Xbox. It wasn’t designed to be cost-effective or efficient; they just wanted it done as soon as possible. Every piece of hardware they sold was a loss for the company. The idea was that they could make up money later on the software, which is clearly what they did as the Xbox gave way to the 360 and later generations that have all been huge money-makers. 

8. Friday the 13th Costs Businesses Hundreds of Millions

Paraskevidekatriaphobia is possibly the most costly fear for business in America. The fear of Friday the 13th may sound silly, but when you get to the bottom line, it’s no joke. People take this so seriously that it has a multi-million dollar impact on the economy every single time the 13th falls on a Friday.

An estimated $700 million to $800 million in productivity or revenue is lost every Friday the 13th due to people refusing to go to work or shopping. One survey in Britain showed that one in 20 people won’t leave their house on the unlucky day. 

Considering that there could be up to three Fridays the 13th on the calendar in any given year, the potential business loss could be over $2 billion in total.

7. CVS Lost $2 Billion in Annual Sales by Dropping Cigarettes

For many years doctors would endorse the smoking of cigarettes. TV commercials would feature someone in a nice white coat smoking their Marlboro and explaining how it helped relax you and take you to flavor country, or whatever the medical reason might be for smoking a cigarette in the 1950s. Later, this advertising method was dropped, but cigarettes were still not far removed from the world of healthcare. For decades you could buy cigarettes at a drugstore.

CVS drug stores stopped selling tobacco products in 2014. Remarkably, this did a great service to the world at large. 38% of CVS customers who were smokers stopped smoking altogether rather than inconveniencing themselves by going to another store to buy cigarettes. 

On the financial side, the company took a massive hit of around $2 billion by dropping tobacco. Their overall sales were $139 billion at the time, but a $2 billion loss is nothing to sneeze at. 

6. Sunny Delight Saw Its Sales Cut in Half by a Scandal

Sunny Delight was a childhood staple for many people of a certain age. It wasn’t exactly orange juice, but it was orange. That has to count for something. It became a huge hit when it made its way to the United Kingdom. Sunny Delight was the third best-selling soft drink in the UK in the ’90s, right after Coke and Pepsi. It was also the 12th best-selling grocery product of any kind in the country. However, that didn’t last long.

Though it sounds like an urban legend, there was a story in 1999 about a 4-year-old girl who drank so much Sunny Delight she turned yellow. This was true because of the amount of beta carotene added to Sunny Delight to give it the bright yellow color it was famous for. Although it was harmless, it faded soon after, and the girl had to drink 1.5 liters a day to achieve it; once the story hit the news, the damage was done.

Sales of the beverage were cut in half in the aftermath of the yellow girl scandal. This led the company to attempt rebranding in 2003, then a reformulation in 2009, and another tweak in 2010. Sales never fully recovered.

5. The Movie Sideways Cost Merlot Wine Makers $400 Million

Sideways was a 2004 comedy-drama about a trip through wine country. It was nominated for several Academy Awards and was generally well-liked by audiences. Most audiences, at least. But probably not the people who make Merlot wine.

The lead character in the film is something of a wine snob. At one point, he angrily exclaims that he has no intention of drinking merlot and insults the wine. You’d think a character in a movie doing that wouldn’t be a big deal, but you’d be wrong. This had a devastating effect on the real-world Merlot market. 

Sales of Merlot began to tank immediately after the film was released. Ten years on, the estimated loss was $400 million. Farmers lost about 7,650 acres of merlot grapes in favor of something else, in many cases pinot noir, which saw a huge boost after the film.

4. Tropicana Lost 20% of Their Sales After a Package Redesign

Have you ever wondered how important branding is for a product? Tropicana can tell you. In 2009, Tropicana decided to redesign its orange juice cartons. The juice stayed the same, all they did was change the package, which backfired miserably. 

For whatever reason, Tropicana felt the old look, which was just an orange with a straw in it under the product name, was not good enough. They spent $35 million on a rebranding campaign complete with a new design that was a close-up image of half a glass of juice. Not very complex stuff, right?

The company had about $700 million in annual sales before the redesign. Sales dropped by 20% after customers began to criticize the new look. That worked out to around $30 million on top of the $35 million they spent on the campaign in the first place.

The failure was blamed, at least in part, on Tropicana losing its connection with its customer base. Their old logo, which they went back to, was famous and iconic. It also has some personality. But they switched it to an incredibly generic redesign with little appeal, and customers rejected it very strongly. 

3. Halo 3 Was Blamed for a  27% Drop in Box Office Returns 

The box office success of movies is something that people find endlessly fascinating. Whether or movie does incredibly well or incredibly poorly, you can count on a hundred articles about it on entertainment websites for weeks to come. What’s far less common is when you find an outside reason for a drop in box office for all movies. But that happened in 2007 with the release of Halo 3.

Box office returns had plummeted 27% in October 2007 following Halo 3’s release, and it was the only thing analysts could think to blame for the massive slump. It was the worst October since 1999.

Analysts are often wrong, so you can take this all with a grain of salt, but the numbers were still awful. The Heartbreak Kid, a movie that reunited Ben Stiller with There’s Something About Mary directors the Farrelly Brothers, was expected to make as much as $25 million on its opening weekend. Instead, it took in $14 million. 

The link to Halo was established with Xbox Live numbers. 2.7 million people played the game in its first week, more than a third of everyone who was an Xbox Live member at the time. The game logged 40 million hours of play in its first week. Both Halo 3 and The Heartbreak Kid were looking to appeal to the same 18-34 demographic. Still, Master Chief seemed to win the battle handily. 

2. SC Johnson Lost a Huge Market Share by Changing Saran Wrap

Sometimes doing the right thing is a one-way trip to financial loss, something SC Johnson learned when they removed a dangerous chemical from Saran Wrap. Saran Warp famously contained something called polyvinylidene chloride. This compound was chiefly responsible for the cling quality of the plastic wrap that allowed it to stretch and stick over bowls ad plates to keep all your leftovers fresh.

It was actually news when the formula changed because people complained that their Saran Wrap didn’t cling like it used to. Clinging was the only thing people wanted Saran Wrap to do, so if it failed at that, it was a waste of money. The problem was that PDVC is very toxic and carcinogenic. 

SC Johnson dropped the chemical from the formulation, and their control of the market dropped from 18% to 11%,

1. Beavis and Butthead Destroyed Album Sales for the Band Winger

Beavis and Butthead started as a short cartoon before they got their own series on MTV in 1993. While the show mostly focused on Beavis and Butthead themselves, there were a couple of supporting characters who became memorable. One of these characters is Stewart, a nerdy kid from the neighborhood that Beavis and Butthead often mock. Like the two main characters, Stewart is always seen wearing a band shirt. That band was Winger. Winger believes Beavis and Butthead ruined their careers.

Winger guitarist Reb Beach once said the band had just released what he considered to be their best album. They were on tour to promote it when someone showed them an episode of Beavis and Butthead where they hung up Stewart by his underwear. They go to Stewart’s house, and all of his family, even the dog, are losers. And they’re all wearing Winger shirts.

The band’s tour sank immediately. People stopped buying tickets, and album sales went into the toilet. Radio stations stopped playing the band’s latest single because they were embarrassed. One stupid cartoon ruined them, costing Reb an expected $200,000 publishing advance.

In 2011, Kip Winger made amends with Beavis and Butthead creator Mike Judge and admitted the show had hurt them a lot, but they had buried the hatchet and moved on.

Best Business Ideas for Women: Looking for an easy to manage business that you can start from the comfort of your house? Often, managing a full time job, kids and household is quite difficult for Women. This is why many of them look for a home based business that does not need any huge investment and is easy to start and manage.

Most of the home based businesses are easy to start and could be managed from the house. These businesses are great for the women who are looking for something that they could start from minimal investment and could be managed besides other responsibilities.

Online, there are a number of businesses that are easy to start, need less startup cost and are easy to manage. Below, we have listed top 10 business ideas for women.

10 Best Business Ideas for Women 2023

10. Daycare Services

This business is the best if you have toddlers yourself. Due to busy schedules, parents are often looking for safe and nearby daycare facilities to leave their kids. It is ideal if you love to be around and take care of kids and are great at it. To start today, look in your neighborhood and acquaintances if they need a trusted daycare facilities provider and offer your services.

9. Dog Walking Services

People love to have pets but many of them do not have time to look after them and groom and walk them often. This is why they look for someone to help them with it. If you love pets, know how to groom them and want to turn some extra hours into good cash then this is a perfect opportunity.

Offer pet sitting, grooming and walking services in your nearby areas. This is quite a lucrative business idea as people are willing to pay anywhere between $20 to $40 per hour.

8. Catering and Baking

Love to cook? Great! And something that makes it an even greater thing is that you can easily turn it into a lucrative business. People have become more conscious about their food and prefer home cooked meals and baked goods like cakes, cookies and breads.

Start by offering baked items and after you’ve built a clientele, start offering catering services to small to medium sized parties.

7. Online and In Person Tutoring

Whether you are a seasoned tutor or want to start as a teacher, this is an excellent business idea. It works especially well if you have school going children and you want to make some extra cash teaching kids while helping your own kids also. You can choose from both online or in person teaching and choose that works with your schedule.

6. Freelancing and Blogging

Love to write and want to use your skill to earn a living? There are a number of ways through which you can use your writing skills. Write a book on a popular or self help topic and become a self published author, start a blog on a trendy topic like parenting, health and fitness, organic household, etc. or make your writer’s profile on several freelancing sites to get clients. It is a great business idea but you need to have at least some hours to spare for it.

5. Organic Gardening

Have some space in your backyard? Why not use it to grow vegetables and fruits? Demand for organic produce is always on a rise and people are willing to pay a little more for it.

Moreover, they usually prefer local gardeners and producers, which means that you have very fair chances to succeed. You can sell the produce from your front-yard or take it to the local farmer’s market.

4. Virtual Assistance

Different virtual assistant jobs have different requirements and you will need to find out if the job specifications meet your skillset. Search online, there are a number of different kinds of virtual assistant jobs and we are sure that you will find the one matching your skills and schedule.

3. Carpet Cleaning

Carpet Cleaning is and will be a lucrative business idea. People have carpets everywhere but they do not have time and the needed equipment to wash it properly. Starting the business is easy and you will need to invest in some equipment once only. The best thing about it is that it is easy to start, do not need much space and has a huge potential.

2. Cards and Gift Delivery

Fond of card and handicrafts making? People prefer things with a more personal feel, which clearly lacks in store bought cards and things. Card making is an art but if you can still do it if you have some basic design and writing skills.

Besides, you can also make handicrafts and deliver them as gifts. Life is busy and people need help with treating their loved ones, you can help them do it conveniently.

1. Party and Wedding Planning

This business idea is great if you do not have time for regular work but can spare some time here and there. Party and wedding planning is an exciting business prospect and you get to meet new people also. However, the role comes with a high level of responsibility and you must take on it only if you are confident about your abilities.

There are hundreds of other business ideas for women that you can check and start. Being financially independent is important and these businesses will help you do it.

Coming up with an idea for a new business is never easy. While most people take the traditional route and stick to tried-and-tested concepts, a rare few dare to think out of the box. That may not always be a good idea, as some of the most unusual business ideas in history have also been massive commercial failures, though quite a few have succeeded, too, creating their own market niches where none existed before. 

10. iSmell

Back in 1999 when the dotcom bubble was at its peak, two Stanford graduates – Joel Bellenson and Dexster Smith – attempted to bring smell to the digital world. By breaking down scents into digital files that could be transmitted online and reproduced by a specialized, USB-powered device on the other end, their product – iSmell – promised to change the way we consume things online. 

It might sound weird today, though it was the next big thing in Silicon Valley at the time, raising over $20 million in venture funds from multiple investors. They envisioned a whole ecosystem built around iSmell and its parent, DigiScents Inc., which could be further incorporated into other industries like gaming, movies, and porn. 

While the device itself worked well enough, it was poorly marketed and eventually shut down in late 2001. There was also the whole question of whether anyone wanted such a technology, as being able to smell things over the Internet no longer sounds as pleasing as it likely did in 1999.

9. Washboard

Washboard has also been called one of the worst startup ideas of all time, and for good reason. Launched in June 2014, the whole idea was based on the assumption that people are willing to pay extra to get change for laundromats. For $15, Washboard would send you quarters worth $10, using the markup for delivery costs, operational expenses, and – obviously – a bit of profit. You could even go for their saver package, getting change worth $20 for a low sum of $26.99.

Of course, it was a ridiculous idea. Apart from the fact that you can just walk into a bank and get loose change whenever you want, a majority of people now have washing machines at home. Washboard was declared shut down by its founder in July of the same year, as they could barely get any lasting customers to keep it running.

8. NYC Garbage

Justin Gignac, a New York-based artist, came up with the idea for NYC Garbage back in 2001, following an argument with someone over the importance of package design. While most of us would think nothing of such a trivial topic, Gignac decided to prove them wrong by finding the most unsellable thing in New York City – garbage – and started repackaging it in fancy, limited-edition garbage cubes. Each cube comes signed, dated, and numbered by the artist, presumably indicating exactly when the garbage was collected.

While it sounds absurd, the idea surprisingly took off. According to NYC Garbage’s own website, more than 1,400 people around the world have already ordered one, priced anywhere between $50-$100. The collection also includes special editions, like the World Series at Yankee Stadium and New Year’s Eve at Times Square.  

7. Fashism

Launched in 2009, Fashism was a fashion-based startup based out of New York. Despite the horrible naming choice, it wasn’t an inherently bad business idea. Fashism was a kind of social media for fashion, where you could post pictures of your outfits and get feedback from a community of users. At its peak, the service had over 80,000 unique visits per month, with over 15,000 user accounts. It was even backed by several high profile investors, including actors Ashton Kutcher and Demi Moore.

We’re not sure if the name had anything to do with its downfall, or if it just wasn’t a viable business idea. Fashism eventually shut down in 2014, owing to a lack of growth and low user count. According to the numbers on Crunchbase, the outlet could only raise about $1 million in total funding. 

6. Blippy

Blippy was launched as a private beta app in 2009, quickly grabbing the attention of venture capital investors around the world. In essence, it was like a Twitter feed for your credit card transactions, allowing users to see and comment on other people’s purchases. Surprisingly, most people didn’t see it in terms of privacy, and the idea itself found many investors. Overall, they were able to raise over $13 million in funding, and the company was valued at around $46 million at its peak. Apple even launched their own service, Ping, to compete with Blippy’s business model. 

Unfortunately, Blippy suffered from a classic drawback: no one wanted it. At the end of the day, there was no real use for a social media service for credit card purchases, even if it was integrated right into your phone. Blippy soon ran out of money and shut down their primary service in 2010, eventually turning into a user reviews app. 

5. I Am Rich

While I Am Rich was mostly made as a novelty joke app, the fact that some people actually bought it makes it count as a business idea. Made by a German developer, Armin Heinrich, it was officially launched on the App Store in August, 2008. At $999.99, it was one of the first few apps on Apple’s newly-launched store, as well as possibly one of the most expensive apps ever. 

As for its functionality, the app itself just consisted of one large red button on the screen. When pressed, it would display a bunch of inspiring sentences like – you guessed it – ‘I am rich’ or ‘I deserve it’, which should prove to anyone sitting around you that you are, indeed, rich. While Heinrich has since admitted that he made the app as a joke, it was purchased by eight people, and only two of them asked Apple to reverse the sale. 

4. Potato Parcel

On paper, Potato Parcel sounds like another wacky business idea with no long-term prospects. For $9.99, someone at the company would handwrite a message on a potato and parcel it to anyone you want. It was a pitch on Shark Tank back in 2016, asking for $50,000 in exchange for 10% of the company. The offer was accepted, in addition to a royalty sharing agreement with one of the judges.

As it turns out, personalized messages on potatoes is actually a viable startup idea. Until 2018, Potato Parcel had sold more than 70,000 potatoes, with six figures in yearly revenues. The service has now expanded to include messages on other items like socks and pillows, as well as more advanced potato messages like pictures. 

3. DiedInHouse.com

Founded in 2013 by software engineer Roy Condrey, DiedInHouse.com is perhaps the only business of its kind. It tells you whether someone has died in the house you’re about to rent or purchase, as long as it’s a US address. It’s a paid service, using information from death certificates, news reports, and police records to provide an accurate measure of whether your house is haunted. The website also displays any other serious criminal cases at a particular property, making it rather useful for potential homeowners and ghost hunters. 

According to a Forbes story from 2016, DiedInHouse.com had sold over 40,000 reports until 2016. Each report contains information like deaths, meth operations, nearby cemeteries, registered sex offenders in the area, previous fire incidents, and other details about the property. 

2. Bottled Air

Vitality Air started out as a prank, when two Canadians – Moses Lam and Troy Paquette – filled a ziploc bag with fresh Canadian air and posted it on eBay. It quickly grabbed media attention and a frantic bidding war, and the bag ended up selling for $130. Sensing a business opportunity, Lam and Paquette decided to look into bottled air as a potential startup idea.

As it turns out, it was, and Vitality Air was born in early 2015. They now export bottles of fresh air to countries around the world, including Mexico, India, Vietnam, and China. The operation has vastly expanded from just driving around with a ziploc bag and sealing it shut at the right time, as it now includes massive air-collection machines and a fully-automated bottling plant. As per a 2019 report, Vitality Air made more than $300,000 in annual sales for two consecutive years, making it a rather successful business idea.

1. No More Woof

No More Woof was a promising – even if a bit ambitious – crowdfunding pitch posted by a few Scandinavian engineers on Indiegogo. They claimed that the device could accurately translate your pet’s brainwaves into intelligible speech, using EEG brain-scanning technology that’s currently used in many brain-related medical procedures. No More Woof was successfully crowdfunded by over 200%, and the story was picked up by multiple news outlets including Mashable, CNET, and Engadget. 

Sadly, while it was a good idea, it was too good to be true, as the technology to make such a device simply doesn’t exist. While there have been major advances in brain-reading tech in the past few years, it’s still impossible to accurately translate thoughts into speech. No More Woof was shelved after the founders publicly-admitted that they don’t have the technology to make it work.

It’s every entrepreneur’s hope that the business endeavors they undertake will be successful. No one likes being a failure and businesspeople especially like to succeed and make money off of their plans. While some entrepreneurs strike a chord with their customer base and get lucky, others seem to have the ability to make lightning strike twice, or even more often, and come up with multiple business ideas. Often these businesses are complementary and make sense but sometimes an entrepreneur will come up with businesses that are remarkably dissimilar such that you’d never guess the same person was behind each one.

10. The Founder of Atari Also Founded Chuck E. Cheese

Nolan Bushnell is clearly a guy who likes fun which seems to be the only common thread linking his two greatest business achievements. In 1972, Bushnell co-founded what can be considered the grandfather of the modern gaming world – Atari. Long before anyone had a PlayStation, an Xbox or even a Nintendo in their homes, they had the Atari 2600 and were playing extremely simple games like Asteroids and Pong. 

While introducing the concept of home console gaming seems like it should have been enough to keep anyone set for the rest of their lives, that was a long time ago and the industry was a lot different. So Bushnell had to keep working and his next big idea was something of a left turn. He was also the force behind Chuck E. Cheese which he developed at Atari.

Corporate overlords being what they are, the money men were not amused that Bushnell was making singing robots and otherwise wasting time and resources. He was actually kicked out of the company in 1978. Though he never made as big a splash again with his later work, his contributions to pop culture are certainly legendary and just a bit weird. 

9. Lee Byung-chul Founded Samsung But Started Out Running a Dry Goods Company

Samsung’s 2021 revenue was around $244 billion USD. They’re clearly one of the biggest electronics companies in the world and they make everything from phones to washing machines. This diverse approach is ingrained in the company as their origins are even more wide reaching thanks to the founder, Lee Byung-chul, and his dedication to selling pretty much anything. 

That multi-billion dollar empire started with $25 back in 1938 when the future founder opened a dry goods store to sell things like dried fish and other food. The company sold goods from in and around the city of Taegu and had about 40 employees.Because they sold dried food; the company did well during the Korean War in 1950 and branched out. They moved into sugar and then textiles. That worked too, so they expanded into insurance, retail and by the 1960s they were manufacturing electronics. They’d go on to manufacture ships, telecommunications, and pretty much anything else you can think of. 

The family still runs Samsung today, and the company is obviously most well known for its cell phones and electronics, but the company likely wouldn’t exist at all without dried fish and noodles nearly a century in the past.

8. The Founder of Domino’s Also Founded a Law School

We already saw the founder of Chuck E. Cheese was behind Atari and it turns out pizza guys just have a lot of diverse interests. Tom Monaghan, the man behind Domino’s, also started his own law school. He invested $50 million of his own cash in the school back in the late 1990s. The school’s mission? To educate lawyers with a Roman Catholic perspective. 

Monaghan actually divested himself of the pizza chain to devote himself to Catholic causes. He sold Domino’s for $1 billion, so he certainly had the resources to follow his dreams. And the school really was built and still exists today. It’s been sanctioned in the past for having low entrance standards and is considered one of the most conservative law schools in the country.

7. The Inventor of the Lava Lamp Founded a Nudist Resort

Did you ever have a lava lamp growing up? Or, you know, right now? They are very symbolic in most people’s minds of hippie counterculture and the 60s and 70s, though they enjoyed a retro resurgence once or twice since those times. 

Lava lamps were invented in 1963 by a British accountant named Edward Craven Walker. Walker was known for only one other thing in his life and that was his penchant for nudity. The man made underwater nude films.

Prior to inventing the lamp, Walker had made movies with names like “Eve on Skis” which featured naked people doing things naked. One movie was presented as an underwater ballet. Water and nudity really seemed to move him, so much so that after achieving some success with his movies he bought an entire club and founded his own nudist resort. He then tried to ban anyone from showing up if they were overweight. He was quoted as saying he was again “fat fogies” and they were not what naturism was about.

6. The Co-Founder of Paul Mitchell Also Founded Patron Tequila

Paul Mitchell, more correctly known as John Paul Mitchell Systems, is a hair care company dating back to 1980 with an annual revenue of about $1 billion. It’s safe to say Paul Mitchell is doing alright. 

The company was founded by two men – Paul Mitchell himself, and John Paul DeJoria. Mitchell passed away from cancer back in 1989 and Dejoria continued to run the company from then on but he also managed to diversify his portfolio. In addition to the world of hairspray and brushes, Dejoria is also the man behind Patron Tequila, the third best-selling tequila brand in America. That works out to over 3 million cases sold in 2021 alone. Of course, Dejoria doesn’t need to worry about that anymore since he sold the company in 2018 for over $5 billion. 

5. Avi Arad Invented the Skip It and Later was Behind Marvel Studios

Before Kevin Feige was the Man Behind the Curtain at Marvel creating the MCU and more or less printing money for the Walt Disney Corporation, there was another man who put Marvel up on the big screen and that was Avi Arad. He was the producer behind most of those non-MCU films from the ’90s and early 2000s like the X-Men, Blade, Daredevil, Punisher and so on. 

Before Arad was giving us the joy of Nic Cage as Ghost Rider, he worked in toys. Specifically, he worked for a company called Tiger Toys and was the inventor of one of the most popular toys in history, the Skip It. That was a little hoop you hooker around your ankle attached to a ball on a string that would spin around your ankle, forcing you to skip it, hence the name, with your other foot. Arad, along with two others, filed a patent for their version of it in 1990. It was hugely successful and so was Arad. For a time the man was considered basically the biggest toy designer in America. And some of his biggest toys were based on comic books. 

He was already executive producer of cartoons like the X-Men and stated his goal was to “exploit” the Marvel universe characters in toys, shows and films. And that’s how he ended up kicking off the world of Marvel movies. Arguably the MCU would not exist today without Arad and the Skip It. 

4. The Founder of Wikipedia Ran a Porn Site First

Wikipedia is so ubiquitous on the internet these days it’s essentially just what everyone thinks of when they need to know literally anything they don’t already know. It’s one of the top ten most visited sites on the internet and has been for ages. Just a random sampling shows that, in November 2021 alone, the site traffic reached 5.97 billion, making it the fourth most visited site online after Google, YouTube and Facebook.

Despite not generally being accepted as a “real” source for info, it’s a great starting point if nothing else and, according to Wikipedia itself, it has published over 57 million pages of information. 

The site was founded by Jimmy Wales back in 2001. But before that he had started a site known as Bomis which featured things like the “Bomis Babe Report” which featured galleries of half naked women, the Babe Engine which was a search engine for sexy women and, of course, Bomis Premium which was $2.95 per month and gave you access to X-rated content.

It was the money that Wales made from Bomis that allowed him to start Wikipedia and, in fact, Wikipedia was borrowing bandwidth from Bomis in its early years to stay active. He used money made from Bomis to pay to keep the servers online. So while Wikipedia may be a hub of knowledge today, it’s built on a foundation of soft core porn with a dash of hardcore on the side. 

3. The Founder of Toho Also Founded a Railway

Long before Godzilla was a multi-million dollar blockbuster franchise in America it was a multi-million dollar blockbuster franchise in Japan, but with less savvy special effects. Everyone knows the classic man-in-a-suit Godzilla and the Toho company still makes Godzilla movies the same way. 

Toho was founded by Ichizo Kobayashi in 1932 as the Tokyo Takarazuka Theater Co. Kobayashi was a man who dabbled in just about everything and, years before his company would create everyone’s favorite radioactive lizard, he was doing things like starting railroad companies and department stores. 

It was the railroad that inadvertently led to Godzilla, as Kobayashi wanted more customers on his trains so he devised a theater troupe to entertain people. The train theater evolved to normal theater and then later that turned into film. Later his company would not just create Godzilla but Akira Kurosawa’s legendary The Seven Samurai as well. 

2. Donald Duncan Made a Fortune in Yo-Yos and Parking Meters

Donald Duncan counts as a serious threat to the wallet because this man was all over the map with his business dealings and had success on multiple, disparate fronts. While he was once a franchise owner of a Good Humor Ice Cream, it’s not true that he invented the Eskimo Pie as some sources claim. That aside, he did make a name in yo-yos and parking meters. 

In 1946, Duncan Yo-Yos was making 3,600 yo-yos per hour. They sold 45 million in 1962. And when Duncan wasn’t keeping kids busy with a simple hobby, he was annoying their parents with parking fees. The Duncan Parking Meter Company was an idea he came up with years earlier and he managed to convince cities it would be a good way to make money. Though he sold the company in 1959, when he was still in charge, 80% of all parking meters in America were made by Duncan. 

1. Gavin McInnes Founded Vice Media and the Proud Boys

If you don’t know the name Gavin McInnes, that’s alright. His name tends to pop up most often in media circles in terms of his relationship with the media as he’s best known for being on both sides of that world.

McInnes founded Vice magazine in 1994, which grew into Vice Media, which is still very much a media company on the internet. The magazine was a sort of counterculture Canadian news magazine that was very much focused on the punk scene, or at least it filtered news through a sort of punk perspective. Vice Media is maybe best known in the mainstream for its documentary-style videos that were aired on HBO and covered a variety of topics. 

In more recent years, Vice Media has had to go on record to state they are no longer affiliated with McInnes because his other claim to fame is that he founded the Proud Boys. The Proud Boys are described as a neofascist white nationalist organization by Encyclopedia Britannica, and an extremist group with a violent agenda by the Anti-Defamation League.

There have always been scammers. But with the internet, scammers easily access their victims and often present themselves as legitimate businesses. As people have come to recognize the more obvious scams, scammers have become more sophisticated, and it can now be difficult to tell the real from the fake.

When online:

• Be wary of websites that use “http” rather than “https” at the beginning of the site URL.
• Check to see that there is a padlock icon next to the URL.
• Watch out for deals that are too good to be true, a sense of urgency (only 6 hours left to take advantage of this opportunity), and being asked to pay through a non-secure method such as a money order or transfer.

If you are interested in partnering or purchasing with a business, do a little digging around to ensure they are legit. With that in mind, let’s look at 10 legitimate business industries that seem like scams.

10 Antiques

The antique business is not logical. After all, why buy a 100-year-old table for a thousand bucks when you can get a trendier one at the local furniture store for much less?

Setting a price for an antique or collectible doesn’t depend on practical concerns such as usefulness; it depends on nebulous qualities such as rarity and what the market will pay. The market for antiques and collectibles is worth some $1.7 billion annually in the U.S. Antique dealers are not usually scammers – although they are naturally trying to get the best possible price.

If you have decided to buy antiques or collectibles, perhaps as an investment, you need to do a lot of research and discover what similar items are selling for on sites such as eBay or from auction catalogs.

9 Used Car Sales

Used car salespeople have a terrible reputation. They often work on commission and need to sell vehicles quickly and for the highest possible price. But this doesn’t mean that the business is a scam. A salesperson would probably be surprised if you accepted the posted price without bargaining. This is not a scam; it’s part of the game.

If you buy a used car privately, you know the seller is trying to get the best possible price, and some back-and-forth negotiations might be involved. It’s no different on a car lot or the internet. A number of websites will give you price comparisons so that you know if the price is reasonable for the year and model you want to buy.

Even if you know cars, it’s always a good idea to have a friend with you who can point out obvious problems you may have missed.

8 Content Creation

There are countless websites out there, hoping to grab your attention for more than a few seconds. To do this, businesses need good content that is interesting and informative. An industry has developed to meet the demand for attractive content.

Content providers promise to provide well-written articles that meet their client’s needs. Competition between providers is fierce, and writers are not usually paid much for their articles. Many people believe that these providers are scammers and that writers will do their work and never be paid for it—this is not true.

While some providers may not be entirely trustworthy, the majority understand that their writing team is their best asset. If you are thinking of writing for one of these sites, there are various review sites on the web that will give you a good idea of what to expect.

Many disgruntled writers leave negative reviews on forums, but perhaps these people have not understood the terms and conditions of their firms. The vast majority of content providers are perfectly legitimate.

7 Health and Wellness Items

The worldwide market for health and wellness food products is worth around $841 billion, and that’s just food. Add on supplements and treatments, and the market is enormous.

Everyone wants to live longer and healthier lives, and many of us are willing to spend a lot of money to help us achieve our goals. This allows scammers to exploit our vulnerabilities and sell us products or treatments that are of dubious benefit or, sometimes, downright dangerous. This is a headache for the many genuine companies that market carefully-prepared goods that meet a real need.

You should carefully research both the product and the seller. The golden rule is that if it looks too good to be true, it probably is. Before taking supplements, it’s a good idea to consult your medical provider.

6 Recruitment Agencies

A professional recruitment agency wants to place the right person in the right job. The company the agency represents is paying a fee whether the job is part-time or full-time, temporary or permanent. It’s a legitimate business that can save an employer time and effort and find a job-seeker the position that suits their needs. Unfortunately, some scammers also work in this field.

Fake recruitment agencies might offer jobs on social media or contact you directly through email. These are after your personal information—do not respond if you don’t know the agency. Some job-placement agencies ask you to pay a registration fee. This is a red flag; a genuine agency will charge the company, not the job seeker.

Once more, it’s a question of doing a little homework to find out if the recruitment agency is genuine.

5 Technical Support

A genuine technical support team works under a strict code of conduct. Take Microsoft as an example. Microsoft will never send you an email out of the blue that tells you your computer has a problem. The company will not phone you to ask for financial or personal information. If your computer displays a pop-up asking you to call a number, no matter what it claims, it isn’t from Microsoft. In other words, they won’t contact you if you don’t contact them.

Scammers who pretend to be technical support staff might ask you to pay for a repair you don’t need or try to scam you out of personal information.

You should report any suspicious messages directly to the real company (eBay, Amazon, Walmart, etc.) and consider telling local law enforcement. These scammers are giving real technical support teams a bad name.

4 Online Coaching

You might have decided to work for yourself and try a new profession. Perhaps you don’t have the necessary experience and want to learn a little more before you take the plunge. Check out online providers such as edX or Coursera that offer a wide range of courses that might be just what you are looking for. These platforms offer well-designed courses that are sometimes free to access but will charge you a fee if you want to earn a certificate.

If you don’t find what you are looking for on these reputable sites, you could contact a professional brand in your chosen field and see which training courses they suggest.

Unfortunately, scammers have moved into the field with promises of guaranteed income and untold riches. Carefully vet these providers before you part with your money.

3 Real Estate

You can make good money in real estate, but it demands training, and plenty of courses offer the necessary preparation. An online course can allow you to continue in your present job while you are getting ready to change professions. Most of these are legitimate, but there are some shady ones out there.

Your course should meet your state’s licensing requirements, and your state should certify or approve the course. Having a word with a local realtor is not a bad idea to see what they would recommend. Online seminars that charge a fee but are not full courses can be a rip-off.

2 Charity

If there’s one area where scammers show what a cruel business they are in, it is charity. And it’s no wonder because there’s a lot of money in the charity business. In 2020, Americans donated an amazing $471 billion to worthy causes. Or they believed that they were worthy causes.

Most charities are perfectly legitimate, but some are criminal. After a natural disaster, for example, “charities” immediately appear, appealing for immediate financial help for the affected. A few of them are simply after your cash and disappear as quickly as they came. And, sometimes, even genuine charities can be mismanaged.

It would be a shame if all charities fell under suspicion just because a few are scams. You should always check before donating, especially if you’re unfamiliar with the charity. The Better Business Bureau, Charity Navigator, and CharityWatch all monitor charities.

Because of the scammers, people might be wary of giving to genuine charities. Whichever one you choose to support, be dire to do your homework before handing over your hard-earned money.

1 Debt Collection

Nobody likes debt collection agencies, but they do a difficult and necessary job. A code of ethics and federal legislation govern what a debt collector can do in the legitimate recovery of money owed. They must deal with people respectfully, register complaints about the validity of a debt, and never use threatening behavior when attempting to collect.

All genuine collectors adhere to the regulations and code of conduct that apply to their activity.

Because many people are naturally frightened of debt collectors, scammers have moved into the field, hoping that some of their victims will pay up to avoid threatened repercussions. A professional agency will never use threats either in writing or by phone.