2024 Year End Wrap Up

It’s the end of the year, as you know, and we’re so glad it’s freaking over. 2024 has been a wild ride. In this year-end episode of Duped, we’re breaking down the year that was and talking about what’s on the horizon for 2025.

Economically Shitty (or Creative Rebranding?)

There’s no sugarcoating it—2024 has been economically challenging for many. Inflation continued to rise, and the carefree days of 2020 feel like a distant memory. The struggles hit online business owners particularly hard, especially those whose only claim to fame was how much money they made with minimal effort. 

Many of these entrepreneurs scrambled, launching offer after offer to stay afloat. The once-confident “make 7-figures effortlessly” crowd pivoted to softer, more relatable personas as they adjusted to the economic realities. As we move forward, uncertainty remains, and it’s clear that the golden era of 2020 is well behind us.

What’s next? There is still economic uncertainty, and there has been no acknowledgement that the glory days of 2020 are over.

The Life Coach Pyramid Began to Crumble

Remember 2020 when the life coaching industry exploded? Stimulus checks left people flush with cash, and lockdowns led to a surge in demand for coaches. 

Many aspiring entrepreneurs jumped on the bandwagon, lured by promises of six—and seven-figure businesses. Fast-forward to 2024, and the bubble has burst. The market is oversaturated, and demand can’t keep up with supply. 

Even worse, it’s become evident that the only people profiting are coaches who coach other coaches. With growing skepticism and increased mainstream scrutiny, the coaching pyramid is starting to collapse—and honestly, we’re here for it.

The Rise & Fall of “Digital Marketing” MRR

This year, we’ve seen the rollercoaster of Master Resell Rights( MRR) in digital marketing. MRR was an unfamiliar term to many of us a year ago, but 2024 turned it into a hot topic. Maggie, who closely followed this trend, saw its meteoric rise as businesses sought steady revenue during uncertain times. 

While MRR isn’t disappearing anytime soon, it is evolving. As with any financial trend, it’s fertile ground for scams and get-rich-quick schemes.

The key takeaway? Approach with caution and keep an eye out for the inevitable shifts ahead.

Skepticism is on the Rise

If there’s one silver lining this year, it’s the growing skepticism among consumers. People are becoming savvier about spotting manipulative tactics and questioning overblown promises from online businesses. Sales cycles are stretching longer, giving buyers more time to make informed decisions—a welcome change in a fast-talking industry. 

This increased scrutiny is reshaping how businesses operate, and it’s a trend we’re more than happy to see.

The FTC Stepped Up

In 2023 and 2024, the Federal Trade Commission (FTC) took significant action against businesses making dubious income claims. We’ve long hoped for more regulation in the online business space, and it’s been refreshing to see accountability finally catching up. The FTC’s involvement has been a game-changer, from crackdowns on false promises to legal consequences for deceptive practices.

However, with a potential shift in political leadership, there’s concern that this progress may stall in 2025.

A Warning About 2025

As we look ahead, it’s essential to brace for potential challenges. While the FTC made strides in regulating the industry, a new administration could roll back these efforts. History shows that business-friendly governments often prioritize corporate interests over consumer protection. Consumers must remain vigilant with tariffs likely to drive up costs and get-rich-quick schemes thriving in uncertain times. 

Ultimately, your best defense is your savvy—stay critical, stay informed, and don’t rely on external regulations to protect you.

Here’s to a smarter, more skeptical 2025!