Slate News Slate Money - Money Talks: The Business of Black Markets
Feb 17, 2026
Mariana van Zeller, investigative journalist and documentary host who reports on black and gray markets, shares vivid stories from years embedded with criminal operators. She explores how untaxed cash and gray markets shape economies. She describes cartels functioning like businesses, fake pharmaceuticals, money movement tactics, and how corruption and inequality enable underground economies.
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WhatsApp Marketing For Smugglers
- King Coyote used WhatsApp and word-of-mouth to market migrant-smuggling services and list prices.
- Successful experiences spread referrals, serving as the operation's primary marketing channel.
Risk And Demand Shape Illicit Pay
- Pay in black markets generally tracks risk: higher risk roles usually pay more.
- Tax avoidance and unmet needs (like unaffordable medicines) also drive demand for illegal services.
Cartels Producing Pharmaceuticals
- Cartels have moved into making pharmaceuticals, sometimes producing tainted medicines sold at border pharmacies.
- Mariana van Zeller reported cartels hiring chemists and forcing pharmacies to sell their products.