I was talking to a girl on Friday. She works at a restaurant and said that Groupon was the only thing keeping the place open. It turns out that the restaurant doesn't have air conditioning for whatever reason. They cater exclusively to tourists because they can't get any repeat customers because who wants to eat in a hot restaurant?
NEW YORK (CNNMoney) -- Groupon's investors are skittish -- and they're taking half-bad news as all-bad.
The company's second-quarter earnings more than doubled expectations, but investors focused on a revenue miss and punished the stock.
After the closing bell on Monday, Groupon reported that it earned 8 cents per share (excluding some charges) versus the 3 cents that analysts polled by Thomson Reuters predicted.
I didn't say it's all collapsed - just that Instagram going for a $billion could be the high-water mark of surreality. Although in reality since a lot of that was in FB stock, what was it worth? Generally in a deal like that could every Instagram FB stockholder have unloaded right after the IPO?