dglassan
Joined 17 years ago
Joined 17 years ago
Do you count the full price of the deal as revenue? Or do you count only Groupon's cut of the deal as revenue? How often should they pay out the merchants? How do you account for refunds? Where do you keep the reserve pools Groupon needed to pay out all those refunds? Are the reserve pools considered an asset? Or a liability? How long do you need to hold the reserves before you can be sure there won't be any more refunds?
Management had to answer all of these questions in a matter of weeks because Groupon was growing so fast. It's not surprising they kept changing the way they accounted for things so often. The fact that you think Groupon knowingly misled investors like it's some sort of conspiracy is absurd.
His so called reporting wreaks of jealousy as he watched his former co-worker's equity skyrocket with Groupon's growth while he was left out.
clickable: http://bounceexchange.com
I don't think it has anything to do with "getting in the zone." A novice programmer that spends 4-5 hours straight focused on a problem is still a novice programmer no matter how far "in the zone" he gets. 10X can only come with experience. And that has to be experience working with other 10X programmers.
A programmer that has 15 years of freelance experience may be good at his/her job, but I doubt they would be as productive as a programmer with 15 years of experience working at top tier companies like Google, Amazon, Facebook, etc.
I really think the only way to become 10X is to watch and learn from other 10X programmers and that will still take years of learning.
A lot of Groupon's international sites are on different platforms than the Groupon US site. This is because they expanded by acquiring the leading daily deals sites in all the countries they moved in to. There's been a big project within the company to move all international markets onto a single system but I'm sure you can imagine how difficult and time consuming of a project that is.