Online-Coupon Bust Will Only Get Worse

The news that LivingSocial will lay off about 400 employees shouldn't come as much of a surprise at this point. The online-coupon business has never made much sense -- at least, not enough sense to justify the incredible hype and vast piles of investor cash companies like LivingSocial, Groupon, and others once drew. But it took a long time for people to realize this.