The Harvard Business Review says that Groupon is failing. The half price coupon service has apparently burned through nearly a billion dollars in venture capital and needs just a measly three-quarters of a billion to keep going. Apparently there were some VC folks and business managers who learned nothing during the dot-com era. Groupon apparently spent on growth without attending to a fundamental business requirement: you actually have to make money. So they outspent their revenue by a large margin in the naive belief there is no top to their market opportunity.