Bad Jewish Business Idea Lights Candles of Controversy

Recently named, “Best of the Worst Internet Business Ideas” by the Wall Street Journal, Cyberrebate was no mensch during the 90′s web boom.

The company sold products frequently marked up to 100% of their market value, then promised crazy rebates sometimes amounting to the full purhcase price. They banked on customer’s laziness in filling out the forms but the wild prices virtually ensured consumers would succesffully navigate the gauntlent. Now the company is bankrupt and paying its creditors $.08802 for every dollar owed.

Blogger Steven Weiss points out how all the site’s owners came from the same Orthodox yeshiva in Queens, Yeshiva B’nei Torah, and wonders whether they were lead astray by Rabbi Israel Chait’s penchant for blue blazer and khakis.

A former employee of the site disagreed in the comments and “a fun conversation ensued.” Read the rest of the story at Canonist.

[photo credit]

Comments

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  1. RandomHookup says:

    What WSJ doesn’t mention in their “worst of the Internet” article is that they spoke very highly of CyberRebate just before the bottom fell out. Perhaps the writer was in the gang as well.

  2. Ben Popken says:

    It’s only a scam if everyone doesn’t get paid.

  3. Grady says:

    I don’t understand where they were expecting to get their money from. Yes, a considerable amount of refunds go unclaimed, but I can’t believe that they never considered what to do if everyone actually did request their rebates. It’s not like they’re selling phones, and they have the service to fall back on. They were smart guys, so I just don’t buy the theory that they just forgot about having a contingency plan. It was a scam from the start, and the author of the article is probably right that the attitude of the company founders towards goyim and other non-orthodox folk had something to with them even thinking it would work in the first place.

  4. x23 says:

    keyword : “Cyberreabte” … what the hell… this is the second nonsense keyword i’ve seen here today.