LivingSocial Taps Amazon Investment by Giving Money Away (Sort Of)

Today’s LivingSocial deal is offering $20 gift cards to Amazon.com for only $10. The offer follows Amazon’s $175 million investment in LivingSocial, which is a group-buying, daily deals company based in Washington, D.C., that is in fierce competition with Groupon. While the money isn’t free, users who take advantage of the offer in roughly the next 24 hours will essentially receive 50 percent off a $20 Amazon.com gift card. By this morning, nearly 420,000 gift cards had already been purchased.


Latest Video

View all videos »

Search »

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