[lbo-talk] bullshit: it's back!

[// ravi]

On Jun 2, 2011, at 4:36 PM, Doug Henwood wrote:
> 
> On Jun 2, 2011, at 4:28 PM, SA wrote:
> 
>> Hmm. They say they view "gross profit" as the key indicator of value, but their income statement seems to show that "marketing costs" eat up 70%-90% of gross profit. Is that what you mean by bullshit?
> 
> All of it. The Groupspawn, a scholarship they give to parents who used Groupon on their first date. The massive losses that they want to bracket because of their curious metrics. The fact that they depend on merchants who typically lose money on the deals and don't get repeat customers to make the deals worthwhile. Etc. It's 1998 all over again.

So true, brah! As someone wrote on Twitter a while ago:

http://l.ravi.be/l6FGac :-)

	—ravi