TITLE: Profitable Until Deemed Illegal
INTEGRATIVE QUESTIONS:
- What is swoopo.com
“It was previously known as telebid.com. It's a strange combination of eBay, woot, and slot machine. “
- How does swoopo.com works?
“It starts when you purchase bids that has corresponding cost/without no volume discounts and each bids rises the purchase price by a specific scent(15 cents) and also increases time of auction at specific time also(15 sec) and then once the auction ends, ten that's the time that you have to pay the final price.”
- Why does few bidding leads to irrational decision making?
“Because according to the article when you start bidding this means that you vesstd financial interest to the products and that products could end up winning and so this leads to rendering your investments in moot.”
- What is “endowment effects”?
“This has connections about irrational decision making which has even observed i chimpanzees; your poor money in, sending good money after bad.”
- What is Penny Auction?
“this is where each bid only increases the price of the final item by 1 cent, while still costing you 75 cents. ”
- What is Freebids Auction?
“this is where the item up for grabs is Swoopo bids. Near as I can tell, this is swoopo printing their own money. ”
- What is 100% Auction?
“this is where the "winner" (and I use this term loosely) pays nothing for the final item, regardless of what the final price is bid up to. Imagine the bidding frenzy on this one at 75 cents a pop. ”
- What is Csh Auction?
“this is where you win actual real money at the end. It's like they're not even trying to pretend they don't run a gambling site with these. ”
- Why is it that swoopo is about as close to pure distilled evil business plan?
“Because they get paid for everything up front, and as they drop ship everything there's no inventory or overhead to worry about. It is almost brilliantly evil, in a sort of evil genius way.”
- This article is all about what?
“this article is concern and discusses the issue of illegal and legal process in the business.”
Additional Question:
ANSWER:
1. 1. If I asked to program this example maybe I do it in different manner, and it’s in a legal manner. Meaning I’ll program it with or in legal process, because what I do think and analyze about this article or in this site is that it contains or it has poor legality when it comes to its processes, and when it comes to how their sites earned profit from their different clients all over the world, and more importantly how it affects the whole business industry. But as a whole, based from what I read, I think this example was not advisable to program if you’re going to take a look at and analyze as well there bidding process and even the entire process that this examples provide.
2. 2. For me this is not right to program this example with their own ways and process, meaning if this process that we have read was going to put into the program. But if not maybe it’s alright either. In addition, it is not alright because it is not good that you continuously allow people to experience endowment effect fueled by bidding when they have the individual chance because first, it is illegal thing to do I think, second your allowing them (people) to their investments moot in a specific products that they started to bid. And lastly you’re pouring their money in and sending the good money after bad.
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