Asian online giveaways echo past Internet follies

Flawed business model: Without the bait of discounts, Chinese movie-goers may simply go back to buying tickets at the cinema, or ordering their takeaways from restaurants that are convenient.

HONG KONG: As the Internet boom of the late 1990s neared its peak, venture capitalists used to joke about setting up a website that would sell dollar bills for 90 cents. 

The startup would attract customers through word of mouth, and quickly start generating revenue. Initial heavy losses were justified in building a user base. Profitability would come later.