Anyone know how they are doing outside the US? Over here in Asutralia for example they seem to be selling plenty of vouchers. I know some businesses that use them often.
LivingSocial: Employees' and Founders' Common Stock Now Worthless
91–100 of 238 posts
Re: LivingSocial: Employees' and Founders' Common Stock Now Worthless
#92Here are a few tips for others startup employees: 1. Take the least amount of stock possible - your startup is statistically unlikely to succeed. It'd be better to bump your salary up $10-20K than to get the stock. 2. Unless it's liquid - it's worthless. 3. Valuations pre-cashflow - are useless. Anybody can value anything at insane levels using just one dollar. I value HN at $1 billion by offering to buy only 1 share…
You sound like the worst employee ever.
You sound like management.
Re: LivingSocial: Employees' and Founders' Common Stock Now Worthless
#93I am honestly surprised they've lasted this long. The whole current premise of daily deals does not work whatsoever. Every business owner I've ever known that has done one of these daily deals has never done them twice, why? Because every deal offerer (restaurant, beauty spa, dentist, tooth whitening formula company, discounted holiday) loses out and it has been proven a daily deal coupon doesn't mean you'll get a re…
If you're going to use a daily deals site, come into it not expecting a profit and look at it for what it is ... a form of cheap marketing. I know a couple of businesses that have used them and found it generated a decent amount of additional sales. Mind you that was about 2 years ago.
Re: LivingSocial: Employees' and Founders' Common Stock Now Worthless
#94this is extremely sad to see. hopefully this report is exaggerated and not entirely true. that said, the daily deal model is clearly broken.
Yes, and I'd argue the daily deal model never worked in the first place. Why? No real value add to small businesses.
The daily deal model was an experiment that went on too long, overfunded by delusional investors - some playing with other people's money - and media and social media hype.
You know what model isn't broken?
Positive cash flow businesses. :)
Re: LivingSocial: Employees' and Founders' Common Stock Now Worthless
#95This 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 Livi…
Creative destruction frees resources for more viable ventures.
Re: LivingSocial: Employees' and Founders' Common Stock Now Worthless
#96I've always felt that companies like Groupon, LivingSocial, and Zynga do way more harm than good. Early on I was impressed by how well these startups were able to capture mainstream attention and change the way so many people live and behave. But at the end of the day, what value does Groupon and Zynga actually add to society? I'm of the opinion that most daily deals and social gaming companies bring out our most pri…
If Zynga actually made games, I'd say that entertainment is one of the most valuable services that a company can provide. Too bad they don't.
Isn't all entertainment just about Dopamine release (catchall for all other known and unknown 'pleasure' neurotransmitters. Zynga's games were decent enough at first. The problem is that for a business that is in the business of purveying entertainment, to be successful, it has to figure out a way of continually squirting out Dopamine in a subject without harming them (harming is more from business point of view than moral). Zynga's current game plays simply can't achieve that. Now if they can get the gambling license...
(it is approaching midnight, so please pardon my incoherence)
Re: LivingSocial: Employees' and Founders' Common Stock Now Worthless
#97Here are a few tips for others startup employees: 1. Take the least amount of stock possible - your startup is statistically unlikely to succeed. It'd be better to bump your salary up $10-20K than to get the stock. 2. Unless it's liquid - it's worthless. 3. Valuations pre-cashflow - are useless. Anybody can value anything at insane levels using just one dollar. I value HN at $1 billion by offering to buy only 1 share…
What if you just like the people and product you are working on?
Re: LivingSocial: Employees' and Founders' Common Stock Now Worthless
#98This headline is misleading, because it implies the common stock was worth something at one point. :)
Re: LivingSocial: Employees' and Founders' Common Stock Now Worthless
#99Earlier quoted context omitted.
You sound like the worst employee ever.
Yes - realistic employees are the worst - they are so unexploitable! What companies really need are wide-eyed, earnest, new college grads who have no idea what goes on in the real world, and how much they are truly being screwed by their current startup. Those guys rock! They work 100+ hour weeks, they don't have families, or commitments and are willing to do it all for mere peanuts and empty promises of golden rainb…
Yeah, bad employee!
Why arent you working harder to give shareholders a disproportionate share?
They called 'dibs' on it before you did, so don't go around with sour grapes.