E-Commerce Times Talkback
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Maybe I came down a little hard on the CyberRebate victims.
But then again, maybe not.
Nothing is risk free. And when someone tells you you're
going to get something for nothing,
after you pay 10 times the face value, the level of
critical judgment should shoot through
Still, in light of all the comments, I did, as one poster suggested, "reconsider" my
position on this issue.
Is there any chance we can get back (at least SOME) of our rebates from CyberRebate? I heard about some lawsuit against credit card companies; I paid using Discover.
Any news and latest updates is appreciated. You may email me directly via "firstname.lastname@example.org".
Cyberrebate changed their policy in March of 2001
to allow unlimited purchases, instead of just one.
This change allowed them to gulp more money before
the bankruptcy of May 2001.
If the bankruptcy court finds Cyberrebate in fraud
then maybe more creditors will have a better chance, to get more of their money returned.
Cyberrebate is definitely a fraud. Didn't you guys notice a business phenomenon just before they filed? It is called a pyramid scheme. For those who don't know what it is, let me give you an example. I borrow $100 from you promising I will give it back with interest. After gaining your trust, you let me borrow $1000. After a while, you let me borrow $1000000, knowing I will give it back. But no, I jump ship and run off with the money.
Cyberrebate did the same thing. Just before they filed for bankruptcy, their prices doubled or tripled, hoping to make a last-ditch effort to rack up as much cash as possible before they jump ship. I noticed this and stopped before they filed. For those who lost A LOT, I hope you learn a strict lesson....nothing is free.
They accepted and processed my order for $3978.28 on 11th May 2001 (at the time of purchase the site said the rebate forms will be available on the site after 5 days) fully well knowing that they were going bankrupt in 5 days (i.e. on 16th May 2001). I recieved a box on 17th May 2001. When I visited the site to get my rebate forms, there was a page saying they have filed for bankruptcy. They promised me rebates forms that they didn't supply. I did not get my rebate forms on the day they were supposed to be there. The rebate form and the merchandise are a part of the purchase agreement. How can they violate it and get away?
Is there any legal recourse available to those of us who got RIPPED & DEFRAUDED by Cyberrebate? There's got to be a class action suit developing for this. Anyone know?
Does Tiger Woods make every shot? Did Jordan? Did Babe Ruth hit homers all the time? With respect, did the space shuttle Challenger even make it out of our atmosphere? Losing comes with risk. Develop a taste for it or get out of the game.
Why are there so many people with an entitlement attitude? What happened to work ethic? What happened to the belief that WE are responsible for ourselves and what we do? Learn from this and move on. Don't get bitter. Just apply the rule above, and decide for yourself if it's a good investment or not. When it's not, don't blame the people that put it together. YOU got involved of your own accord. The anger from these posts is nothing more than the feelings of stupidity so many people have to justify. I've had it too. But when I fail, it's because of MY efforts coming up short, MY inability to change with the world. I have ultimate control over whether I'm successful or not. Under this CR business model, you are very dependant on a LOT of things having to happen. They didn't, and you lost. It's just like the stock market. The only thing you can do is play your hand the best you can or get out of the game. You can't control what the society of THEY is going to do. Keep the good articles coming!!
What you are not understanding is that this was not an "investment" and nothing like the stock market. As I stated in another post, this was not any type of "business venture."
Find out the REAL facts about the situation so that you know what you are talking about before you post such messages.
Posted by: jena
2001-06-29 16:05:18 In reply to: LoriA702
THIS is definitely a scam. The CEO and owners are laughing all the way to their offshore banks.
Did you get the items you purchased? Help me understand the situation better. Were there products bought and not delivered? I'd agree that you should either have your money refunded or receive the product you ordered. If you're arguing that you bought products and didn't intend to 'make money/come out ahead' through this model, then surely all you want is the product you ordered and paid a fair price for. Is this correct? Help me obtain the facts.
Something for nothing equals greed. I have compassion for people that lose money through banks, S&L's, and failed business ventures that were honest, legal, and proven. You may ask "How can you prove a new business model?" Easy. What is it based on? Services? Products? Or is money simply going to appear from nothing? Here's a quick lesson in the art of making money: You are paid in proportion to your service to society (think what a brain surgeon would make as an elevator operator vs. saving someone's life). You wanted products AND money back? That's a form of 'payment'. What service did you provide someone for that increase? Some of you may say that you were 'loaning' CR money. Great! Then they are in default! Simply get the loan papers and the contract they signed, take it to the courthouse, and get your hard earned money! Oh...you don't have a contract? Didn't your mom ever tell you to 'get it in writing'? The fact is, you were paying for products (inferior ones, I hear). If you got them, contract satisfied. If you didn't, I agree you ought to. Rebates are not guaranteed. Didn't you read the fine print? I'm still waiting for $30 from Microsoft, $25 for a ScanPort Scanner, $50 from Canon....shall I go on? You have to decide what your time is worth. Sure, I'll mail it in and give it a try. But my time is not worth chasing down $30 or $100 or even $500 over the course of 3 or 4 months. Don't we all have better things to do? I agree in taking risks, but I also swallow the bitter pill when I lose $20K in a carwash, or $15K on lawn care companies, etc. If you're going to risk, PLAN on losing sometimes. Part 2 next.
Kudos on your decision to re-evaluate your position but thumbs down on your actual analysis. You never addressed my point that it was not a question of getting something for nothing. When you are tying up money that could be invested or used for other purposes for 10-14 weeks, that is not nothing! It's tiring to hear the same smug statement from everyone regarding CyberRebate customers, "How stupid could you be? There's no such thing as a free lunch!" I can't believe any CR customers really believed the company was giving away merchandise with no return; it was a business, not a charity. They knew the company must be making money off of their money before the rebate checks were sent.
I am not a CyberRebate customer trying to get someone to pay my losses. I never bought anything from them precisely for the reason I mentioned: who wants to lose the use of their money for 14 weeks? It irritates me just waiting for my Turbotax rebate - and that was $30! (and by the way, that made my software free...should I stop buying from Intuit?)
Give these people a little credit, will you?
Yes, INVESTORS get paid to let their money be tied up for a period of time with the promise of a higher return. Are you speaking for the consumers? Is that what they thought of themselves as? Investors loaning money to a corporation? Interesting... the investors I know have contracts, deeds, binding agreements, attorneys, payment schedules, etc. Seems there's a lot of unwise 'investors' out there....
The difference between your situation in losing $2000 and the Cyberrebate customers is that we were PURCHASING ITEMS... NOT investing in the company in any way. So this situation is not the same in that we did not take that risk in investing into the company.
Also you mention a comment from "Tonia" asking why the credit card companies should "pay" for our "business venture." Again, this was not a "business venture," it was a purchase of items with a promise of a rebate..at no time did I agree to a "business venture" with this company.
You again lack understanding of situation in comparing our situation with yours. You still need to do some additional research into this situation...
How can you say you did not enter into a venture with this company? The deal did not make sense on its face and you jumped in anyway. Dance with the devil and get burned, all the time claiming your innocence. Go get 'em Faust!
I learned a long time ago that when I buy something with a rebate to buy it only if it is a reasonable price before the rebate because the rebate does not always come through.
I didn't buy from CyberRebate.com because the prices were too high, the 100% rebate seemed to good to be true and the time to receive the rebate was too long (over the 60 days limit for disputing CC charge).
You wrote a good article originally and the followup article is fair also.
Give me a break. How could you believe that this deal had legs. Use of your money for a couple of months would never give you a return of the magnitude suggested in this deal unless it was illegal or very high risk. Have you ever heard of a game that uses three cups and a pea? Nows there's an idea. I'll let you know when I have set up my web site.