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This is absolutely terrible news. I don't care if you "like the daily deals business model" or "hate the daily deals business model" - this is very very bad ne
by taf2 14y ago
This is absolutely terrible news. I don't care if you "like the daily deals business model" or "hate the daily deals business model" - this is very very bad news for a lot of people. It will have impact on the rest of the industry and perhaps already has. We should be very disappointed that things have gone south in this way. We should work harder to build profit into our businesses and we should hope still that LivingSocial can pull itself above water... Best wishes go out to everyone there...
- kschrader 14y agoSome of us do work hard to build profitable businesses. I don't think that one bad investment deal is going to make a big difference.
- ma2rten 14y agoMaybe I am being too insensitive, but ... I think that if the valuation for companies, which have been overvalued corrects itself, that is ultimately a good thing for the industry and society at large. It means that resources are being freed up to work on more valuable things. It is also another case study from which this young industry can learn. As for the employee and investors, they have taken a deliberate bet on the company and lost their stakes. This is what you sign up for when you decide to work for / invest in a start up.
- guy_c 14y agoI like your perspective on this. It is impossible to see the 'damage' done by capital applied (or over applied) to the wrong thing. So people don't really think about it. What great things were NOT created by the great people LivingSocial hired.
- retrogradeorbit 14y agoCreative destruction frees resources for more viable ventures.