Programmer David Heinemeier Hansson says "buyer beware" on the Groupon IPO: "At the moment, it’s costing them $1.43 to make $1, and it doesn’t look like it’s getting any cheaper. They’re already projected to make close to three billion dollars in revenues this year. If you can’t figure out how to make money on three billion in revenue, when exactly will the profit magic be found? Ten billion? Fifty billion?" [Short Logic via Daring Fireball]
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