[code4tee]

The company is burning cash like crazy, they totally threw their business plan (to only make money via membership fees) out the window within a few weeks of launching and now they've slashed their originally proposed valuation by 50% in what would seem like a desperate move to get some cash in to keep the fire burning.

All for what? To try and compete with the likes of Amazon and Wall-Mart on price and logistics!?!?! Call me pessimistic, but this looks like its going to end in an expensive train wreck.

[danieltillett]

When someone is losing money someone is making money. While business does not need to be zero sum, most of the time it is.