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Comment: Re:Welcome to 1999 (Score 1) 245 245

There were at least two hysterias in 1999.

1) Companies with no proven revenue stream.

2) More insidiously, companies that were going to make tons of money from advertising, and sold banner ads at huge CPMs, because there was no accountability for conversion performance.

This feels a lot like #2, except it's not just bullshit conversion performance (which here could be interpreted as repeat visits), it's also pre-inflation of retail price to give the appearance of "value" where really there is none. Groupon's sales reps themselves advise merchants to "temporarily" double the retail price of their goods so they can offer 50% "discounts".

In short, bubble.

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