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I don't understand how anybody who knew anything about the business could think that this was sustainable. Are you talking about Groupon here or the businesses
by akudha 4y ago
I don't understand how anybody who knew anything about the business could think that this was sustainable.
Are you talking about Groupon here or the businesses? I'd guess Groupon fully knew what they were doing - they know they have a small window where they need to make a killing. Why do they care after that? Why do they care if they screwed over thousands of small businesses? They'll just move on to the next legal scam.
I suppose it is upto the businesses to not fall for such one sided schemes. Maybe it is peer pressure, if every business around them is doing it, they feel pressured to do it too? Maybe a restaurant owner is good at making food, but not that good at running a business?
I hate companies like Groupon...
- newaccount74 4y agoI was talking about the people who invested in Groupon. They should care about the sustainability of the business, because otherwise their investment will have no value.
- phendrenad2 4y agoSeems like a classic rug-pull to me. Early investors get out soon after the IPO, while retail investors are still pushing it higher.
- just3ws 4y agoThey walked away from a 6B acquisition by Google. They did believe the sky was the limit. I was not in the specific meetings but was there for everything around it. There was a sense of optimism no matter how naive it was in hindsight.