LivingSocial Hires John Bax to Manage All Its Money

LivingSocial has added to its executive ranks after raising a $183 million round of capital led by Amazon.com. John Bax will serve as CFO of the Washington, D.C.-based daily deals site after most recently working as CFO of RecycleBank, a merchant-funded rewards program. He also previously served as VP of planning and analysis for Wal-Mart stores and CFO of Walmart.com.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work