Before we get into the market, I’d like to share an email I received yesterday, in response to my latest article on VCs and how they’re fucking us each and every day.
Wanted to email you a quick story to illustrate further your point on the last Fred Wilson post:
I was up in SF recently and my friends were telling me about this new app Saucey, essentially an alcohol delivery service, that they use to have booze delivered on-demand to their place. What they have found is that they are often offered coupon codes on which there are no limits to the frequency of usage for any particular account. Also, the codes are ridiculously easy to guess (i.e. “10OFF” works, but so does “30OFF”). The only requirement is that the order less the discount must total above $1.00. My friends have been drinking basically for free using this app for months now, courtesy of their local VC firms.
All this sounded too good to be true but I confirmed the scam when I was there. We ordered about $70 worth of alcohol to the house for $2 total. Unbelievable, and I am sure it is all in the name of increasing the “active user” figures for some offering memorandum.
Thought you would enjoy!
See? I was right. VCs pay “entrepreneurs” to take their money and burn it in giant gabage pales. I love how some of these hoodie wearing cro-magnons think they’re businessmen, yet are unable to book a profit on their businesses. I guess I’m old school when it comes to running an enterprise.
Markets are sharply higher today, for reasons that escape me. Perhaps people just figured out that the north star is 14x brighter than the sun and deemed that to be boolish for stocks. Or, maybe the fact that the ISM numbers came in recessionary will provide the Fed with the data necessary to avert moronic rate hikes.
Or Santa.
Either way, I am riding William Albert Ackman’s coattails to the promise land, very long VRX, fixing to assist him in disposing of any and all bodies he might end up ripping to shreds.
If you enjoy the content at iBankCoin, please follow us on Twitter
Have you seen this twitter/blog site that someone put up where they debunk all of Bronte Capital’s allegations?
http://thetruthaboutvaleant.com/
Not true.. I have the app. 30OFF doesn’t work. You can get a 20% discount but there is no way you ordered $70 and had it delivered for $2. That’s like umm… 95% off? I cry bullshit. Nobody is delivering booze for free in San Fran.
I think you are missing the point… I guess it was three of us using the same delivery address and same codes (20OFF maybe?). Regardless, we had a massive amount of alcohol delivered for less than $4…. and yes, I consider that delivering booze for free in SF.
Maybe I’m more pissed you didn’t invite me.
VRX hits $98 today. Haha. No one cares when it goes up 9% in a day.
Reminds me of the scene in boiler room where he looks thru the window to see an empty construction site with nothing but a ton of telephones connected on the floor.
Pump and dump shell games.
That’s a pretty wimpy 45 degree angle boys. You wake up late today? Forget to preprogram the quants last night? Machine was down and maintenance guy was held up from a domestic hostage tieup on the east side?
I guess there are still some people who are still back in the dot com days, where “Earnings are for suckers.”