For many years now, a dark question has haunted parents, teachers, the internet, and media institutions: what’s wrong with young men? Why are boys so politically extreme, spouting misogynist rhetoric, and increasingly drawn into risky crypto schemes and online gambling? How did they become so lonely, with their depression symptoms often overlooked?

The most common explanation of these interrelated phenomena is that younger men have banded together online under the umbrella of something known as the “manosphere,” usually conceived as an organic right-wing rebellion driving culture wars. But a new study suggests this is entirely backward: the digital ecosystem producing ‘red-pilled’ men is less of a movement than it is a pyramid scheme.

“Masculinity” has become a commercial category that is constructed, curated and financially incentivized online,” write the authors of a 153-page report. Men encounter aspirational self-help content when looking up advice on dating, fitness or finance; bad actors then exploit their areas of vulnerability by offering a misleading, grievance-based narrative to explain their frustrations.

Once men feel they are in community with each other based on a shared sense of victimhood and betrayal, hostility toward a mutual enemy, the same predatory characters can sell them dubious solutions. Whether that’s a class, access to an exclusive club or gray-market pills, the report pegs the range of hourly streaming revenue for top-tier streamers like Adin Ross at around $30,000 to $50,000.

Meanwhile, the platforms take a cut of the profits and reward masculinity influencers for pushing extreme views while generating controversy and conflict. The report draws parallels between this harmful material and pro-eating-disorder content that targets women – except the former has not faced similar enforcement efforts from social media companies.