Tuesday, June 14, 2011
The Groupon Pyramid Scam
Now I already Marginalized Groupon - See 30% Off Nothing - but that was from the standpoint of a customer.
I had no idea what the precise business model was.
You can read about the highly complicated and somewhat shady business model here - Why Groupon Is Poised To Collapse.
When the history of *financial innovation* is written....99% of it will be cross-posted in the *high crimes* files. Seriously - name the last financial innovation that wasn't a pure scam designed to enrich the architects and enslave or hoodwink the masses. The credit card? The 30-year mortgage? Securitized student loans? C'mon!