As Jason already told us in one of our most popular episodes of Don’t Watch This: “If it’s too good to be true, it’s called Groupon”.

DHH on Twitter a couple of nights ago:

Kudos to the SEC for making Groupon report only their own revenue, not that of the companies using it. Strike II against IPO bullshit.

And he continues:

What is Groupon going to do now? They’re burning money by the truck load, the stock market is in the toilet, speculative IPOs hammered.

And concludes:

Actually, as @kevindway points out, it’s the small biz that are really fucked if Groupon blows up. Groupon owes them hundreds of millions.

And here in my town, lots of small businesses are “trying it out” with Livingsocial aggressively approaching local mom-and-pop shops with mixed results.