Apparently that was pretty close to the truth, besides the leads from World Modeling, Ed would randomly go up to young girls at malls and other public places and give them a C-Note and his business card. He told them to use the $100 to get an AIM test (back when they were $80-90) and then come visit him to do the scene and make some real money.
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"I'm a minor character in my own story", Steve Coogan as Tony Wilson in 24 Hour Party People