| User Info
| LivingSocial Goes KA-BOOM? in forum [Market-Ticker]
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Digitlman
Posts: 331
Incept: 2011-03-04
Online
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Wow.
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Advise01
Posts: 50
Incept: 2011-08-02
Tampa
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The problem is he did learn a lot from the 2000 dotcom bust.
Step 1 lie about your projected earnings
Step 2 hire a POS investment banker who will lie about your earnings
Step 3 get people to stupid to remember the last bubble to buy your stock
Step 4 sell your stock before anyone else realizes your company is a POS
Step 5 file bankruptcy
Step 6 retire in a lifestyle you stole from someone else
Why do you think ****overtheinvestorbook went public when it did? It had inside information if they did not try to take you to the cleaners soon it would lose it opportunity to **** You later.
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"Few political gifts are more richly rewarded, than the ability to convince parasites that they are victims."
- Dr. Thomas Sowell
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Alchemista2
Posts: 89
Incept: 2008-09-25
DC
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I had a feeling something big was coming up - they've been offering heavy discounts lately, obviously trying to get cashflow. Not surprising.
Their deals have sucked since the last 6 months, except for occasional special promotions that they were obviously losing money on.
Groupon's also on the down-trend with quality, but still has enough worth buying occasionally.
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Erbo
Posts: 120
Incept: 2010-06-10
Denver, CO
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Where's ****edCompany.com when you need them? The world hasn't been the same since Pud closed it down...
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"There is a ready solution for anyone on the public payroll who feels that he is not paid enough: He can resign and work for a living. This applies with equal force to Congressmen, Welfare 'clients,' school teachers, generals, garbage collectors, and judges." - Ira Johnson
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Eaglewwit
Posts: 6054
Incept: 2007-11-30
SoCal
Banned
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Oops, I just spend $250 on one of their deals. I hope I can cash it in before it goes bust.
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Krs
Posts: 687
Incept: 2009-05-07
Colleyville, Texas
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What value do any of these companies have when Joe/Josephine Blogger can get themselves a software package and create any coupon he/she wants and put it up on there site for next to nothing, take the trip around town to target the same customers as Living Social or Groupon and negotiate even better deals than the big guys.
"Social Media" is one of the greatest things to happen on the internet (and off), not because of its reach, connectivity or instant feedback etc, but because of its incredibly rapid life cycle, now shrinking to 12 to 18 months of the release of any new business concept, model or technology. There has never been in the course of history, any good or service that becomes commoditized with such low (virtually no) barriers to entry so quickly, than today's online "social solutions" to age old challenges, like getting coupons in peoples hands at the local level and getting them to use them, or keeping up with Granny etc.
None of these companies has any real advantage except being the first and sucking the market for all they can get before everyone else shows up, big and small.
And Facebook is no different, within 5 years each of us will be able to get online, drop and drag some stuff around the screen and create our own version of Facebook with only the best features that we want, eliminate all of the spamming, advertising etc, keep our data private and so on. The biggest challenge will most likely be security, but even that will be worked out elegantly enough for any kid 15 years or younger as I right now, to be able to manage. As noted here many times, Facebook is really just Dead Code Walking with very few stays of execution left before they find themselves strapped into Old Sparky and at the wrong end of 2000 Volts.
Vive Le Internets!
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Fog, smoke, and mirrors... perhaps those tin-foil-hat wearing digital dickweeds were on to something?
Tyler Durden on the Fed – Feb 28, 2013
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Ktrosper
Posts: 1500
Incept: 2010-04-06
ft collins co
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advise wrote..Step 6 retire in a lifestyle you stole from someone else Yep. It's the business of fraud. And it still pays handsomely.
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The unexamined life is not worth living.-Socrates
The only stable state is the one in which all men are equal before the law.-Aristotle
Liberty exists now in the spaces government has not yet chosen to occupy.-Doc Zero
I anticipate that 10 Dallas Cowboys Cheerleaders will blow me this evening.-K.D
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Magus
Posts: 1970
Incept: 2008-05-04
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"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
-~~Ludwig V
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Catman
Posts: 6
Incept: 2013-01-19
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What I find most interesting is the amount LivingSocial owes to merchants, as in LS collected all the money up front but was in such a financial hole that they've kept what should have been paid out. The only saving grace is that, "Hey, at least we're not as bad as Groupon!"
From the article:
"Yes most of our Current Liabilities are Merchant Payables, which are local merchants' share of the dailydeals we sell and yes we collect that cash in advance, and we do owe them for all that - and yes it's now hundreds of millions of dollars more than our cash on hand. But despite our Current Liabilities being high, they at least are not as frightening as Groupon's Merchant Payables gap..."
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Genesis
Posts: 130752
Incept: 2007-06-26
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Gates
Posts: 6275
Incept: 2008-01-29
Scottsdale
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Ah another ponzie...
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Drkshapiro
Posts: 630
Incept: 2012-09-12
Southern CA
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Karl, excuse if you've written about this but it's true Facebook pays no taxes for 2012. WTF??? WTmajorF? All the regular people pay tons of taxes.
Edit: All the regular working people pay tons of taxes.
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Honesty may be the best policy, but it’s important to remember that apparently, by elimination, dishonesty is the second-best policy. --G Carlin
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Genesis
Posts: 130752
Incept: 2007-06-26
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I suspect that would be from carry-forwarded losses.
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Mortgageguymn
Posts: 1566
Incept: 2009-03-09
North Coast
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Living Social. Don't believe I'd ever heard of it until today. I have a brother who's probably using it to "save" his way into bankruptcy.
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Jeffrey_thomason
Posts: 7083
Incept: 2009-03-11
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Apparently the original article may be suspect, I know this link was posted earlier, but it's been updated twice: http://finance.fortune.cnn.com/2013/02/2....Quote:
I have just begun skimming through LivingSocial's charter filing with Delaware. It's long, but this round clearly was preferred stock (i.e., equity). This is in stark contract to what PrivCo reported, when it claimed that "EQUITY or stock was NOT issued today."
Moreover, the filing says that participants "shall be entitled to receive cumulative dividends at the rate of three percent." Again, PrivCo had claimed "Double-digit annual cash dividends."
They posted the charter filing, so maybe you guru's can rightfully tear it apart.
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When they turn the pages of history, when these days have passed long ago. Will they read of us with sadness for the seeds that we let grow?
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Lenguado
Posts: 1272
Incept: 2010-01-12
Orlando, FL
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Sooo, whats with these Sweet Jack ads I keep hearing on the radio. Same thing (and prospects?) as Living Social? And as Mortgage said, before today, never heard of them either. I must live in a hole... (or don't have a Schmardt Phoney)(edit) Sooo, next up - SpaceBook? MyFace? - or is that, FaceBook & MySpace? I get so confused. . . 
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I just realized... they aren't saying, "Keynesian Economics" they're saying "Kenyansian Economics". Grass Huts for everyone!  Welcome to history’s first Double Dip Depression |
Curbyourrisk
Posts: 3595
Incept: 2008-08-19
Farmingdale, NY
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LOAN TO OWN.
We just got royally ****ed like that with School Specialty.... We are fighting like hell in the court to get the 363 sale stopped
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Time is up.
I hate to burst your bubble, but there is no Santa Claus, the tooth fairy does not exist and American justice does not involve the courts.
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Donethat
Posts: 771
Incept: 2009-04-22
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Facebook pays not federal income taxes ....
Besides carry forward losses, and foreign double dutch irish with a twist intellectual property stashing, they get a tax credit on the stock option gains of their employees when they exercise in the case of ISOs, or when the options are exercisable in the case of NSOs?
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Throxxofvron
Posts: 10325
Incept: 2009-02-17
Hyper-Speculative Psycho-Facsistic Parabolic Blow-Off
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Quote:"Yes most of our Current Liabilities are Merchant Payables, which are local merchants' share of the dailydeals we sell and yes we collect that cash in advance, and we do owe them for all that - and yes it's now hundreds of millions of dollars more than our cash on hand. But despite our Current Liabilities being high, they at least are not as frightening as Groupon's Merchant Payables gap..." It isn't a Ponzi in the classic sense; but, a very interesting little twist on a simple fraud, a variety of theft by conversion scheme: You ( LivinToSteal, GroupGrab ) sell the Merchant the 'Service' of arranging a 'Promotion' and then get the Customers to rob the Merchant for You using said 'Promotion'...
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DIONYSUS: " Thou hast no knowledge of the life thou art leading; thy very existence is now a mystery to thee. " -from 'The Bacchantes' By Euripides “During times of universal deceit, telling the truth becomes a revolutionary act.” -George Orwell
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Curbyourrisk
Posts: 3595
Incept: 2008-08-19
Farmingdale, NY
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A little like the Herbalife story?
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Time is up.
I hate to burst your bubble, but there is no Santa Claus, the tooth fairy does not exist and American justice does not involve the courts.
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Throxxofvron
Posts: 10325
Incept: 2009-02-17
Hyper-Speculative Psycho-Facsistic Parabolic Blow-Off
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I wonder whether more is made in this type of scam from the 'Clients/Merchants' or the 'Investors'?
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DIONYSUS: " Thou hast no knowledge of the life thou art leading; thy very existence is now a mystery to thee. " -from 'The Bacchantes' By Euripides “During times of universal deceit, telling the truth becomes a revolutionary act.” -George Orwell
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Mdporter
Posts: 560
Incept: 2008-02-26
San Jose, CA
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Quote:Where's ****edCompany.com when you need them? The world hasn't been the same since Pud closed it down... ++ the forums there were so fun, too. My employer graced the front page of F'dcompany more than once before it finally imploded. $450 million of VC money stolen, wasted, and embezzled. Quite a show! |
Yazooflesh
Posts: 5003
Incept: 2007-08-02
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Little example of how this is bad for business...
Whenever you turn your business over to a "groupon" type thing, you are opening
yourself up to a never ending discount mentality in your customers' mind.
In other words, why should someone pay full price...ever? Just wait for the discount.
Groupon and Living Social are Sam Walton devotees.
From what I've discerned, Groupon's customers(businesses) are in the hole for quite a long time.
What is the real price to pay for a loyal customer?
If you have to continually massage your customer, you are not delivering the goods. Period!
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