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[codinghorror] Profitable Until Deemed Illegal - Page 2

post #11 of 44
This is news? Maybe "deals" or off-topic.... this is old, and there is nothing wrong with the business model.
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Old Flame
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post #12 of 44
This is god damn pure genius


Exploitation of impulse buyers AT ITS BEST


Wow.
    
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post #13 of 44
WOOOOW.... they have a penny auction for a 42" LCD.... if it sells for a measly $500.00 they will make $3750-$1500TV=$2250 PROFIT

This will be illegal soon.
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post #14 of 44
OMG THEY HAVE 100% OFF 'AUCTIONS'... SO THEY GO ON FOREVER AS LONG AS SOMEONE BIDS...

This is pure evil!
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post #15 of 44
LOL revenue in the US

28.3 million USD so far in 2008

http://en.wikipedia.org/wiki/Swoopo

This is just plain evil but I guess not illegal? Those poor souls betting on imaginary items!
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post #16 of 44
This is absolutely brilliant.
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post #17 of 44
now that is one hell of a business plan haha. Evil? Hardly any worse than any other form of gambling. It's just an awesome idea to take advantage of an option.
    
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post #18 of 44
What is wrong with preying on the weak and uneducated? It is the premise of capitalist lifestyle.
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post #19 of 44
Lots of "evil" and "genius" and "brilliant" being thrown around.

Jeez, get a thesaurus guys! =P

Its stupendous!
    
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post #20 of 44
It's quite an amazing business model. $28.3 mil is a lot in one year for a basically unknown, "startup" company.

I've seen this before, though. This redditor had stumbled upon it before:
Quote:
So I recently found this site. Swoopo.com, where they auction off items. The trick is, that every time someone bids, it costs a dollar to bid. Check out this phone on there. Even tho the "price" is up to $3451.80, this item is at a fixed price of just $40. The trick is, every time someone bids, it raises the total price ammount by just 15 cents. Check it out though, if you divide $3451.80 by 0.15 cents, it comes out to 23012 bids. And since each bid costs $1, they have made over $23,000 on this one phone so far. Crazy huh?
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