That's the "race to the bottom" effect in a market with low barriers to entry. Groupon's business is compiling and maintaining two lists: (1) a list of local b

That's the "race to the bottom" effect in a market with low barriers to entry. Groupon's business is compiling and maintaining two lists: (1) a list of local businesses, and (2) a list of email subscribers. How it took billions of dollars and tens of thousands of employees to compile those lists, I will never understand. I still cringe every time I hear people promising that the "local market" will be "HUGE".