Monday, November 22, 2010
Can't Keep a Free Market Down
Irresistible Force
Groupon is reportedly entertaining a buyout offer of $4-$5 billion from Google.
...not a bad payout for two years work.
Yeah. I hadda look it up:
The company offers one “Groupon” per day in each of the markets it serves. The Groupon works as an assurance contract using ThePoint’s platform: if a certain number of people sign up for the offer, then the deal becomes available to all; if the predetermined minimum is not met, no one gets the deal that day. This reduces risk for retailers, who can treat the coupons as quantity discounts as well as sales promotion tools. Groupon makes money by getting a cut of the deal from the retailers. There are certain businesses that Groupon will not offer its services to, including shooting ranges, abortion clinics, plastic surgeons and strip clubs. Groupon is said to be the fastest growing company ever.
GroupCupons: Socialist trendy-shopping.
whatever.
But apparently this is yet another example of that wealth creation—creating wealth out of thin air and a good idea—that Our Betters deem mythical. Subverive, even. How ya gonna squabble over who gets a bigger piece of The Pie when renegades like this insist on Making More Pies?!?!?!!
"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it.”
Frederic Bastiat
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