The amazing world of internet business, and the idiots running it.
In its prospectus, Buy.com unveils history's most elegant business model: "We sell a substantial portion of our products at very low prices. As a result, we have extremely low and sometimes negative gross margins on our product sales."
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Utek, a business development company that finds, acquires, develops, and finances university technology for its customers, issues the following warning in its prospectus: "Our management has limited experience operating a business, has had no experience in managing and operating a business development company, and has little or no experience in corporate finance and corporate mergers."
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- From 101 Dumbest Moments in e-Business History
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Utek, a business development company that finds, acquires, develops, and finances university technology for its customers, issues the following warning in its prospectus: "Our management has limited experience operating a business, has had no experience in managing and operating a business development company, and has little or no experience in corporate finance and corporate mergers."
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- From 101 Dumbest Moments in e-Business History
"Gain experience. Work here -- we don't know; maybe you will."
*shudder*
Ouch.