The Education of Groupon CEO Andrew Mason(businessweek.com)
businessweek.com
The Education of Groupon CEO Andrew Mason
http://www.businessweek.com/printer/articles/61362-the-education-of-groupon-ceo-andrew-mason
3 comments
It seems like a mistake for him to have done this interview. The Japanese restaurant was described in way too much detail, and if he's trying to shed his goofball image this article doesn't help (just look at the photographs...). And that overshadows the more interesting and important part of the article, which is the direction Groupon is moving in.
Maybe I misread the article but I don't recall him saying he's trying get rid of his goofball image altogether. I'd say he's trying to gradually tone it down and keep it controlled to certain situations (i.e. although it may be a part of who he is, it doesn't need to apply to Groupon).
I'm glad he did this interview since it is putting faith back into investors and the general public. It's pretty apparent that he is looking to do more than just sell daily coupons or sellout to a company offering him billions of dollars. He seems genuinely interested in doing something good with Groupon. Though he still has a ways to go, I give him respect for doing it for the right reasons.
I'm glad he did this interview since it is putting faith back into investors and the general public. It's pretty apparent that he is looking to do more than just sell daily coupons or sellout to a company offering him billions of dollars. He seems genuinely interested in doing something good with Groupon. Though he still has a ways to go, I give him respect for doing it for the right reasons.
It's just a PR trick, telling investors he's taking things seriously and learning some business 101 in a restaurant. Probably the restaurant doesn't even exist.
That was also the first thing that came into my mind. It is quite a smart human interest story, showing some humbleness, back to the basics approach, etc.
I like him much better after this interview.
That last paragraph seems far more damning of the author than of Mason -- they're so disappointed that he doesn't have any obvious status symbols and he's riding off on a moped.
Good for him, and shame on them, for equating consumption with success.
(he should really wear a helmet, though!)
That last paragraph seems far more damning of the author than of Mason -- they're so disappointed that he doesn't have any obvious status symbols and he's riding off on a moped.
Good for him, and shame on them, for equating consumption with success.
(he should really wear a helmet, though!)
"Mason says his hosting gig, which he agreed to discuss on the condition that the establishment not be named"
Why?
Why?
Probably so people didn't go to the restaurant and heckle him?
Or ask for 50% discounts.
Hey restaurant, You want a customer? Let me get you a customer!
Groupon: How much is a lunch meal?
Restaurant: $10
Groupon: Great, here Ill give you $2.50 for it!
Restaurant: uh.. I'm not so sure about this...
Groupon: Hey customer! Come get this lunch deal. I got a great deal for you, $10 lunch for $5!
Customer: Uh, ok.
Groupon: Sweet! I just pocketed $2.50! Isn't this a great deal!
Restaurant: WTF! I just lost 75% of my gross by doing this with Groupon!
Groupon: How much is a lunch meal?
Restaurant: $10
Groupon: Great, here Ill give you $2.50 for it!
Restaurant: uh.. I'm not so sure about this...
Groupon: Hey customer! Come get this lunch deal. I got a great deal for you, $10 lunch for $5!
Customer: Uh, ok.
Groupon: Sweet! I just pocketed $2.50! Isn't this a great deal!
Restaurant: WTF! I just lost 75% of my gross by doing this with Groupon!
Going forward all merchants have to consider the Groupon/GOOG Offer cost while pricing. They already factor in credit processing - and can't discriminate on Cash customers. eventually a customer paying cash and not using any promos will pay a lot more for the same merchandise.
Actually, that's not true. As of today, because of this[1] $7.2B settlement, merchants will now be able to charge customers that use cards a fee for doing so. This is already the case in Australia as I understand it, and card use has not decreased as a result. I personally use cash for most store/ restaurant purchases (I used to work in the Merchant Acquirer space), so I will finally be getting a better price in addition to reducing my behavior-tracking surface area.
[1]http://newsroom.mastercard.com/2012/07/13/mastercard-speaks-...
[1]http://newsroom.mastercard.com/2012/07/13/mastercard-speaks-...
Took about 45 seconds of Google+Yelp to determine it's http://www.yelp.com/biz/mirai-chicago