Hey, I have worked with that graphic artist before (on a mainstream business though)...
Having said that, trying to appeal to peoples' sense of exclusivity doesn't seem so much like an MLM as it does a way to try and raise an initial round of funding without disclosing anything about the product so they can finish up before hitting up the "real" investors. Of course it will work on some people - the same people who forward chain letters so their loved ones don't die under horrific circumstances (please stop forwarding me emails Mom), but I wouldn't throw a dime of my money at it if they aren't willing to offer up a little more product info, drop some names, or something.
And I've got to think that if someone had something hotter than email in their possession, they wouldn't need to resort to these guerrilla marketing tactics to raise capital.
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