Quote:
Originally Posted by techweenie
But it's a good business model for the operator. You can -- as stomachmonkey says -- easily see how much they net on every item sold.
|
I honestly don't have an issue with the company making money.
I think it's an interesting approach.
Consumer can get good value with low risk and company makes money.
I do agree it is similar to gambling in a lot of ways. I can see people blowing wads of cash chasing a deal.
When swoopo first came out I blew $50 figuring it out simply because the concept intrigued me.
What I found was it was highly time zone/time of day dependent. There were patterns in the bid cycle that corresponded with daily events. It looked like morning coffee, arriving at work, lunch time, after dinner, before bed were the most active times. But you had to be aware of the the time difference between right and left coast.
For the most part the really good deals happened between 1-3 am pacific time. Left coasters had gone to bed and right coasters had not woken up yet.
It also appeared that they would "seed" deals for those time periods so they could honestly say someone got a $1,000 laptop for $20.