This is very poorly written. My favorite line: "Except that all that Groupon revenue is unprofitable so more and more Groupon revenue is actually bad." Umm, n

This is very poorly written. My favorite line: "Except that all that Groupon revenue is unprofitable so more and more Groupon revenue is actually bad." Umm, no. Groupon isn't selling something below marginal cost. They're unprofitable due to fixed costs (advertising, sales force, etc.). Their revenue has almost zero associated marginal cost and is actually quite good and in fact is what they're banking on. I don't think he really understands what "Ponzi Scheme" means either. Groupon doesn't depend on newer people to pay off older people. What he's trying to say is that it perhaps isn't sustainable, but that's not the same as a Ponzi Scheme.