{ "media_type": "image", "post_content": "The New York Times: He Has 17,700 Bottles of Hand Sanitizer and Nowhere to Sell Them.\nhttps://www.nytimes.com/2020/03/14/technology/coronavirus-purell-wipes-amazon-sellers.html\n\nSigh* of course someone would try to profit off of others...", "post_id": "5e6cd8c770e32e001aa2e381", "reply_count": 77, "vote_count": 13, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }
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It's interesting that the main hoarder is trying to control his own narrative by wearing a "family man family business" shirt and claiming that reselling $1 items at $20 is fair because he's "providing a public service" and "needs to be compensated for his labor." The public service would have been to leave the hundreds of bottles, masks, and other supplies that his family wasn't going to use personally on the store shelves. The twisted justification of these profiteers. SMH.

likesmart

Price gouging is not "getting his cheddar." Price gouging is unethical and in some cases illegal. His behaviour is putting lives at risk. Hoarding hygiene items is mitigating contain and delay efforts. I hope he gets charged with manslaughter.

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People who love capitalism must understand that this is what unbridled capitalism naturally leads to. Supply and demand means that the true worth of a good is whatever someone else will pay for that good. Price controls and anti-gouging laws by contrast are textbook socialism. Maybe an unpopular opinion, but many smart people including nobel winning economists want price gouging to occur, as it is the only way to ration resources in an emergency. See all those idiots loading up on toilet paper? I suspect it wouldn't be as much of a problem if they cost 100$ per roll.

likesmarthelpful
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The last quote of the article is the most ironic and idiotic: “But I’m not looking to be in a situation where I make the front page of the news for being that guy who hoarded 20,000 bottles of sanitizer that I’m selling for 20 times what they cost me.” Surprised he let them take photos of his family. His best path to redeem himself is to probably walk door to door and hand out bottles to the locals or drop them off to organizations that could distribute them for him. And if he is still in the negative (I doubt he is based on the profit margin he sold the others for, but he has a kid to feed), he could save some and sell them at a later date before the bottles expire.

likesmart

Or pissed off victims looking to retaliate. So many fails on so many level. On the other hand I do not feel sorry for someone who drove 1000+ miles to buy supplies to price gouge.

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Glad Amazon, EBay and others put an immediate stop to this kind of highway robbery when at risk people and service providers lives are at stake because of the shortage these scums have created....

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In Korea, the government stepped in to prevent price gauging on masks, hand sanitizers and basic sanitary necessary goods early on. In the us, I’m glad since the gov hadn’t, at least companies did. Why can’t ppl realize that if less people have access, more people will get sick, that will eventually catch up to them too? Not to mention make this outbreak longer and risk a slower economic rebound.

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Former Bain consultant?

likefunny

Retail arbitrage isn’t new. Capitalism encourages it, and things like this happen during every single “crisis event.” Not saying its good or bad, just saying it shouldn’t surprise anyone

likefunny

PWC3. They should. A big reason our system is failing is undercapacity. Hospitals have been closing in the US for decades as regulations have gone up and individual purchase power down, due to more & more treatment required to be covered under Insurance. Especially in low traffic areas. There's no profit in running hospitals. The best areas in medicine that have a balance between capacity and demand are those not required by standard medical insurance. Here, insurance is optional, and people pay out of pocket. Capacity scales to meet demand. Deregulate health care & health insurance especially

Before y'all start complaining about huge markups on raw COGS go look at any direct to consumer company's balance sheet. Oh, and tell me how much it cost to print the pages for your slide decks which you then sell for 5-6fig deliverable-based SOWs. These guys bought product where and when there was low demand and got it to places it needed to be. Are you driving down to Kentucky to pickup masks for people out of stock in Seattle?

likesmart

C3, then explain the fact that shortages still exists in locales with anti gouging laws. It's not just the resallers who are scooping up all the supply. It's also the doomsday peppers and hoarders who are buying everything up. The anti gouging laws are not protecting the supply; by preventing prices from increasing to match spiking demand, they remove any incentive to ration what vital resources we have.

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He deserves this!

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amen

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Is he wearing cargo shorts? That certainly fits the profile of someone that would hoard hand sanitizer.

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People like him are the backbone of fully functioning capitalist economy. It’s legal, I don’t understand the backlash. I understand it’s unethical but this is much better than some of the practices Wall Street continues to do. If he is willing to travel and get inventory of stock which he then sells on legal platforms to consenting buyers, I do not understand why you would be mad.

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These kinds of situations really separates the smart and the dumb of society. The dumb are hiding under their beds, avoiding corona beer and Chinese food, panic selling stocks and panic buying toilet paper. The smart are doing this. Not saying I endorse what he is doing but he truly is implementing “be greedy when others are fearful”

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If you replace dumb with human and smart with predatory, I’d agree.

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🐍🐍🐍

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Serves him right. Insensitive a-hole when healthcare workers are forced to work in these situations and here he is trying to get a couple more bucks while nurses can’t find hand sanitizers after work. Should be a felony

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Yes shame on him. Not like our firms advise clients do similar things under different circumstances in order to "unlock value", right? Oh wait...

likefunny

The thing that people who want economic supply and demand rules to apply don’t get that Healthcare shouldn’t be regulated by the rules of capitalism ... other countries have figured this out —we of course believe the market solves all problems. People’s health shouldn’t be dictated by profit motive.

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It’s amazing how many consultants have clearly never taken an economics course. Prices are signals of scarcity, supply, and demand.

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McK everyone *thinks* it's not ok. We're all upset because we're not sure how to *know* it's not ok

😂 respect the hustle

Garage sale or craigslist

Hope he gets robbed

Look forward to his episode of American Greed

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