I know some of you were getting the Loot Play sub by Lootcrate and Chrono.GG that stopped several months back.

https://io9.gizmodo.com/loot-crate-files-for-bankruptcy-and-lays-off-workers-bu-1837204311

4 years ago

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I don't normally say this when companies go bankrupt, but...thank god.

4 years ago
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Why?

4 years ago
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Inflatable crowns, Marvel shoelaces, Superman air fresheners...
Do I even have to mention the shirts?

4 years ago
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Sounds like merch.

Being happy that people lost their job because they sold merch you don't like is a bit odd, but who am I to say. I can't really take your position either since I've most certainly bought a piece of fan merchandise before.

4 years ago
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Happy cakeday! :D

4 years ago
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Happy cakeday!

4 years ago
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The problem with Loot Crate is that they were basically giving crap compared to other subscription boxes with the same price or lower. Also they claimed to have exclusive items that ended up in boxes from other companies. I can't say I'm happy they went bankrupt but they were just not caring about their costumers so I can understand that their costumers don't care about them.

4 years ago
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I actually never got how it was supposed to be profitable when they were shipping these things all over the world, but now knowing they went bankrupt I guess it really wasn't profitable.

4 years ago
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On other hand I don't understand how hard this kind of business model could be. Once you get it going... Should be pretty clear how much stuff you buy cost, then add labour for boxing and shipping per location, next slap margin on.

Ofc, there is always the question of demand...

4 years ago
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I have a feeling they undercharged the crates at the start in order to get clients and then just kept going accumulating debt and never quite figuring out how to turn a profit, it's baffling how many companies are made of hype and hopes with little substance so I wouldn't be surprissed if it's the case for this one too.
I insist that selling random crap inside a box is only really a viable bussines if you don't need to ship half way across the world, or the crap you're selling is way cheaper than the asking price which never seemed to be the case for this one.

4 years ago
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There are many publicly traded companies worth billions of dollars that have the same business model and continually bleed money.

Uber is little more than a cell phone app that connects drives to people who need a ride, and Uber loses 3-4 billion dollars a year.

Loot Crate's problem is that they couldn't get enough suckers to hold an IPO.

4 years ago
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That's not entirely fair.

Amazon didn't make any profit for its first 5 years as a publicly traded company, and still barely makes a profit, because it keeps pumping money into expanding its business, or developing new businesses.
But Amazon is actually hugely profitable, they're just re-investing those profits into new ventures. And investors will gladly keep going along because they know that Amazon, at its core, is a huge money-maker, and if anything ever goes wrong, the bulk of the business will survive.
For comparison, when apple got into financial trouble in the '90s, they just cut their R&D budget, and became profitable again. After they regained stability, they slowly started investing in new products again, and had a huge hit with the ipod, followed by the iphone.

Uber is losing money (about $0.58 per ride), but it's growing very rapidly, and the goal is to outgrow everyone else, so that they can raise prices in the future and still be competitive. They're also spending money on new ideas, such as self-driving cars.

Lootcrate would at the very least need each subscription to cover the cost of the items, shipping, and handling, but could lose money on overhead in the hopes of growing bigger. But if each box lots money (not counting overhead), or if growth in subscribers wasn't promising enough, investors won't pump money into it.
there are a gazillion subscription box programs like lootcrate; the economics is the same for each

4 years ago
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on a related note, I once was discussing a startup idea with a friend, and I wasn't in position to dedicate sufficient time and energy into growing another company. He suggested instead that instead we develop it with the intent of selling it as quickly as possible - which means trading profit for volume - and then let the buyer deal with it.

Not a bad idea

4 years ago
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Yeah they were really making it cheap to buy. For me it was around £24 before a couple of months ago they started charging shipping prices but that was like an extra £3. They kept doing sales as well so no point paying full price just cancel your sub then get that 50% all over again or if you really like them pay for 2 and got 1 free. I actually paid more for the free crate since i had to pay customs on that then I paid for all the othet crates

4 years ago
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People paid for shipping themselves, on top of the boxes. It's one of the reasons I stopped subscibing a few years ago, with international shipping, paying customs here + sometimes having to spend 3-6 hours picking the box up at customs, it just wasn't worth it, even if it included items I wanted.

4 years ago
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Oh, then I guess they're just bad at business.
I never quite got what was the advantage of it over just picking the stuff one wanted from ebay or some place similar.

4 years ago
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the idea behind a subscription box is that you get a box of stuff you want / can use, without having to go shopping for it. In some market categories it does very well, and in other market categories it's a disaster.

Barkbox is a good example, because it provides dog toys every month. Plenty of dog owners are happy to get toys for their dogs, but don't specifically go shopping for it regularly.
HumbleBundle is another good example - plenty of people are happy to play a bunch of new games every month, at an affordable rate

4 years ago
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People losing jobs is never a nice thing but at the same time I was never a fan of the idea of "loot boxes", so to me this just seems like proof that it's not a good business model.

4 years ago
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depends on the market. Humble Monthly is a successful implementation of the business model.

4 years ago
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True. I meant more along the lines of "IRL loot-boxes". Digital items are a different sort of beast in my opinion.

4 years ago
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Whether you get it or not, IRL lootboxes are quite popular, with literally thousands of companies providing subscriptions (most of them will fail, but a handful make bank). And even before that, there were things like Omaha Steak subscriptions, or "fruit of the month" which have been profitable for decades.

It's all a matter of figuring out a good business model. Those companies which are just trying to cash in, or which aren't well thought-out are going to fail. But the ones that offer good value for money, or which know how to monetize the subscription another way, those are wildly successful. For two contrasting examples:

Birchbox provides sample size beauty products at a loss, with the goal that customers will buy full-size versions from their website.

Ipsy also provides beauty products, but they make a profit on each box, by working with influencers who create unboxing videos in their studio, and create tutorials of how to best use the products

4 years ago
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You make a point. But I'd say that there is a difference - all of the boxes you mentioned can be considered useful (food or beauty products), while lootboy was mostly fanboy merch and u don't even know what you're gonna get (which is part of the charm for some). But I can see that some people might and did enjoy even lootbox - just not me.

Also, your first line "Whether you get it or not" sounds needlessly aggressive and unfriendly, or that's just how I see it.

4 years ago
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my apologies for the tone. I didn't mean to be aggressive and/or unfriendly.

But to counter the usefulness argument, just look at trading cards - those by definition are fanboy merch where you don't know what you're gonna get. But it's a lot narrower. Baseball fans would buy baseball cards. Basketball fans would buy basketball cards. A lootbox specializing in Anime will do a lot better than a lootbox providing generic fanboy merch.
and that's without bringing up the supposedly dubious quality of their merchandise

4 years ago
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Apology accepted, no worries! :))

On the rest of your argument, I do quite agree. As a kid I also used to collect some trading cards - though I have stopped since. And I think what you said was exactly the problem with lootbox - generic merch pandering to a too large of an audience. The quality was meh and the merchandise was "too universal" to be useful and to bring joy to many people.

Thing is - I base my dislike on the "loot" ideology on the fact that it's quite similar to gambling and everyone is trying to get the most out of it, but at the end of the day all parties end up suffering because of their own greed (or putting it politely bad business model).

But you are correct, and I stand corrected - with a good business model it can be as good and large a business as many others.

4 years ago
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Oh this is everywhere. Been seeing it for days and now its finally here. Ive actually used them away from their games crate since even if i was able to have it I wouldnt have. As soon as i hopefully get my last crate im fine with it going. My last ones all contained cups! I have so many different cups and water battles that its insane. However I thought the price was worth it just for the top so anything extra ended up worth it for me but considering a lot of people have been waiting months and still being charged is just bad business. So very surprised this didnt happen earlier to save some trouble

4 years ago
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Deleted

This comment was deleted 3 years ago.

4 years ago
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if only those anime porn box people would go bankrupt

4 years ago
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4 years ago
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A cat instead of an anime girl? His comment must have shocked you deeply, or even made you sick. I'm worried, I find that the Lootboy thread is very useful and it would be a shame to lose you. Maybe you should go to the infirmary?

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4 years ago*
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Yeah, I'm deeply shocked \(〇_o)/
Maybe I really should pay the nurse a visit ( ͡° ͜ʖ ͡°)

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4 years ago
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Fixed

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4 years ago
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only know about them cause they advertised on imgur, worst idea ever and the comment section was amazing. top comment for ages until it was removed-it all comes precovered in semen. 1st and only time ive seen adverts for that shit

4 years ago
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You blacklisted me for my reply to Garandro? Please, learn to relax. I was just trying to do a little bit of humour as he is known to often post images of sexy girls from Japanese cartoons. It was not even directly related to your comment, it was only related to the picture he posted.

4 years ago*
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Need more.

4 years ago
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anime porn box

Is that J-List? If so their bankruptcy might be eons away, since weebs have a shitton of money to offer. They buy any anime figure/pillow case no matter how expensive.

4 years ago
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I'm not surprised. People in the gaming community say it's because it's a lootbox model, but I'd say that's the only reason they even stayed afloat to begin with.

The bigger issue was that the stuff that was given wasn't very impressive. Over time you'll lose subs to subscription deals, so when the criticism came in, it was obvious that the new crowd wouldn't really want to get into it. Most people didn't see the value in it.
Same thing's happening to companies like Blue Apron right now, where people see a product and say "This costs more than in a restaurant, has ingredients I can just as easily buy and has unnecessary amounts of packaging trash". So when the positives are just "this motivates me to cook" or "I can make food with my girlfriend", it's obvious that this isn't a sustainable business model and more of a novelty.

I didn't expect Lootcrate to go bankrupt, but I didn't expect them to even inch closer to their former success.

4 years ago
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Happy Cakeday! :3

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4 years ago
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4 years ago
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Wishing you a happy cake day!

4 years ago
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Happy Cake day :)

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4 years ago
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I don't get the loot box argument, aren't the boxes always guaranteed to have X value? Like the Humble Monthly, it's just the things you might not like, there's no chance of getting something super valuable (except for some raffles) or something that's worth less than the original price.

On another note, I read an article recently where they actually said the food subscriptions (where you get ingredients for specific meals) are better for the environment, even with all the extra packaging, because it cuts out food waste + shipping to the supermarket and then to your home (e.g. when you go grocery shopping by car). Overall the carbon footprint is apparently smaller compared to going shopping for the ingredients.

4 years ago
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I don't get the loot box argument, aren't the boxes always guaranteed to have X value? Like the Humble Monthly, it's just the things you might not like, there's no chance of getting something super valuable (except for some raffles) or something that's worth less than the original price.

The main idea was that you didn't know what you'd get from what I've understood.

Overall the carbon footprint is apparently smaller compared to going shopping for the ingredients.

Yeah, but if your minuscule amounts of ingredients are in separate packaging, unlike in grocery stores, where items are in standard sizes and where you can buy in bulk with a single package, I can't really see how that's the case. The argument relies on the idea that you drive to the grocery store and that you won't go there while doing other things (as if people have the patience or the time to go back home and go to the store separately. Of course, I'm not trying to say it's impossible. I just can't see how that can exactly be the case overall.

4 years ago
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I thought the whole "loot boxes are bad" thing was because it's more like a lottery and usually you end up with nothing/something worth way less than what you paid. With these blind boxes, you usually got a guaranteed shirt + at least a few hints at one of the articles/the theme. And as I said, pretty sure the box value was supposed to be more than the price (although with all the cheap "exclusives" they made themselves later, it definitely didn't feel that way anymore)

This isn't the article I read, but here's a thing about why those meal kits are supposedly "greener": https://www.foodnavigator.com/Article/2019/04/25/Meal-kits-are-greener-than-you-thought-new-study-concludes
I said the same though, I don't drive to get groceries, and I get more than just main meals, so I'd still make the trips, but the argument is that the packaging is negligible compared to sending the food directly to you instead of supermarkets. Plus, exact portions means no/less food waste. I've never tried one of those boxes since I'm kind of a picky eater (not a fan of meat, but from what I see they often substitute with mushrooms or tofu or eggplant, none of which I like), so don't know how the packaging is, but seems like they try to keep it compostable/recyclable as well.

also, happy Cake Day btw :)

4 years ago*
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Part of the issue with Blue Apron is that they prioritized quantity over quality. That's a great way for a startup to raise more funding, but not good in the long run.

There are plenty of people who are happy to pay more so they don't have to go shopping, and there are plenty of people willing to pay more for healthy food. However, it is, and always will be, a niche market. Their core audience can be profitable, but it's a small segment of the market.

Good for them that they went for mass subscription, which I'm sure netted big investments. But now they've got to scale down, give up the wider market, and focus on their profitable customers.

4 years ago
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I just can't see them retaining customers.
Were you ordering to learn cooking with less hassle? You'll learn and want to get rid of the excessive costs and you'll evolve past it.
Were you using it as a hassle-free thing to do with your partner or friend? That's a one-time purchase most likely.
Were you using it for a quick way to get food? Literally takeout can be cheaper and quicker.
Were you using it for a quick way to get healthy food? Again, takeout can be cheaper and these days almost every city has healthy restaurants for better prices.

So what's left? Other than those temporary customers, only ignorance (whether true or willful) will keep them using the service past a few times.

4 years ago
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Some people like to cook but don't care about developing skills beyond the basics. My sister is the perfect target for this - she never deviates from a recipe anyway, so it's convenient for her that everything comes in the box in just the right quantities.

Still others don't like going grocery shopping (or don't have the time) but still want to provide a homecooked meal.

When I lived in New York, most people I knew worked too many hours to go grocery shopping, but eating out or ordering delivery every day gets tedious. Once FreshDirect started, just about everyone started ordering their groceries from there. But if you wanted to make a specific meal, it still could be tedious. Being able to order everything you need for one meal with one click and without extras, that's a great service.

4 years ago
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I totally get it, which is why I did use the "willful ignorance" part. That part isn't meant as an insult since almost everyone is willfully ignorant about different things. When looking up a study, you might not read the entire thing, when going to the shower you might skip fixing the leaky faucet, when walking to somewhere, you might notice something weird in the alleyway but you don't go checking it out. Life's full of willful ignorance and this just feels like one of those moments to me then.

If it's genuinely that much better, then fair enough, who am I to argue. Anecdotal evidence will always be that - anecdotal.

I'm glad you like it and I'm happy people are getting use out of the service. I still can't say this convinces me about the wider picture since it's anecdotal, but it's always better if offered services are filling some sort of niche.

I appreciate the response.

4 years ago
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but it's not "wilful ignorance", it's a matter of preference. The fact that you can't seem to understand that and just label it "wilful ignorance" is, actually, insulting, because most subscribers know exactly what they're doing.

4 years ago
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but it's not "wilful ignorance", it's a matter of preference. The fact that you can't seem to understand that and just label it "wilful ignorance" is, actually, insulting, because most subscribers know exactly what they're doing.

Well I'm sorry, but I don't know how else to put it. You're obviously ignoring certain things in favor for others. You ignore the environmental ramifications, you're ignoring the pricetag. Same goes for other methods. Ordering from restaurants, you ignore the pricetag, you often ignore the health aspects. Buying from grocery stores, you might ignore the food waste or you might have impulsivity.

You want me to call you perfect? Or am I allowed to point out my faults while I have to just pretend that reality stops existing for you? If saying that you're willfully ignorant of certain aspects for your own benefit is actually insulting, then I'm sorry, but I won't change my idea of it.

I literally say that I respect your decisions and that no option is perfect. I literally give you examples of situations where willful ignorance is not only normal, but instead often more beneficial. Perhaps I should instead say that you're amazing work by buying Blue Apron. That you're saving the world by not wasting food. Screw the negatives. Those negatives don't exist and the packaging flies into the Ether.
So, please, perhaps I'm missing something, but if respecting you, your decisions, acknowledging the positive aspects isn't enough, if asking more from you to try and learn about your ideas isn't enough, then what is?

I appreciate you having a chat with me, but saying that I'm insulting you is exactly the opposite of what I was doing. You don't respect what I'm trying to say and you're assuming negative intentions out of the gate. Thanks for the chat.

4 years ago
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a conscientious decision is not wilful ignorance. Yes, I know that when I eat at a restaurant it is more expensive than eating at home, I'm not ignoring that fact, I'm making the specific decision to eat at a restaurant and pay the extra money, either for the experience of the convenience.
Do you consider it ignorance when someone chooses to go to the movies?

It is quite insulting when you say someone is doing something out of ignorance, rather than because they choose to.

Now, I don't particularly take offense to anything, but your choice of words shows a particular disdain for people who make decisions you don't agree with. It would actually be better if you had negative intentions, rather than your entire thought process being so offensive you think you're doing the opposite.

Note: I've never bought anything from Blue Apron. It's not my thing. I certainly don't think anyone who orders from there is "saving the world by not wasting food", which is the dumbest rationale I've ever heard for buying from them (though I'm sure there are some idiots who think that)

4 years ago
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a conscientious decision is not wilful ignorance

Literally willfully doing something. Inaction's still an action. But I guess you're really trying to throw a wrench into this with a philosophical argument. Fair enough, but I'm not too into having that type of a conversation right now.

I'm not ignoring that fact

There will always be better options though, technically. And you'll be ignoring those in favor of something else. Or maybe you truly do think "Fuck it, I fuckin' love creating all this trash and filling up the landfills". I doubt you do that, but perhaps you truly do embrace it. In which case, you aren't...disagreeing. Wait, nah, you're arguing in favor of your choices though. Almost as if you know of the negative aspects and are willfully ignoring them in favour of your own choices (which is literally totally normal and we do it on a daily basis).

It is quite insulting when you say someone is doing something out of ignorance, rather than because they choose to.

Offense isn't given, it's taken. What I've said isn't a direct attack and I've explained why it isn't. I wasn't going after anyone and this is the second time you've taken offense. At this point, you choose to take offense to it. I can't change anything here.

I certainly don't think anyone who orders from there is "saving the world by not wasting food", which is the dumbest rationale I've ever heard for buying from them (though I'm sure there are some idiots who think that)

If you're sticking to the hyperbole, then you're misrepresenting my argument and using a demagogic tactic, which just labels you dishonest. If you aren't doing that, then you're in direct contradiction with the user below me, who you already decided to agree with. Quote: "With boxes, you have a new recipe every time, and you have an exact amount of food, spices, butter, sour cream, etc. No food waste. No need to think about what to cook, no need to create a shopping list, and after that, no need to cook from leftovers."

I'm not trying to create a "gotcha" moment, but right now you're either creating malicious arguments (which coincides with taking offense to what I've already explained multiple times as me not giving offense) or you're trying to be a contrarian without actually caring to stick to your arguments. Whatever the case is, I appreciate the convo, but this has turned unproductive very quickly. Once again, I appreciate you responding to begin with and presenting your ideas. Always good to have many different perspectives, even if it includes you thinking I'm a malicious actor.

4 years ago
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I don't think you're a malicious actor, I think you're self-righteous.

4 years ago
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Yikes.

4 years ago
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I use HelloFresh/Blue Apron/other boxes for about 3.5 years without breaks (and in different countries too), and I can tell, why I'm ignorant (really?) I'm doing it.

Main reasons — it's convenient. I don't have to think what I'll prepare for the dinner tonight, because I don't have a fantasy for it, but I don't like to eat the same meal that I know how to cook over and over. Plus I love new tastes and new combinations.
If I go to the internet to learn some new recipe, I'll spend a hell of an amount of time, literally. I should find the recipe, adjust proportions, go to shopping, and find precisely that spice, sesame seeds, cornflour, and many other "used once, never used again" whatnot.

With boxes, you have a new recipe every time, and you have an exact amount of food, spices, butter, sour cream, etc. No food waste. No need to think about what to cook, no need to create a shopping list, and after that, no need to cook from leftovers.

I agree that if you buy at a grocery store the same products for the meal, it will be cheaper, but I don't want to spend time on that. And I really don't like to do shopping. So I compare time vs. money in this case.
I also can tell if you live alone, it's not worth it for most people, so I think couples and families — main customers.

About takeouts from cafes: you have to leave tips anyway, even if it's a takeout + you don't know what's exactly inside (some "healthy food" even contains sugar or sweetener, lol) + and the main problem: food from Blue Apron is much tastier (ofc, it's subjective). So, I don't find it nor healthier nor cheaper. Only quicker.

When someone compares Blue Apron's meal's cost with going to the restaurant: well, what can I say.. McDonald's is a restaurant too..
Plus you'll get more vegetables from your Blue Apron meal that from most restaurants' meals (especially in the USA). Are restaurants healthy? It may be. Healthier? Not. Nor cheaper and nor quicker.

Anyway, with 3 meals per week subscription, you have chances to do and takeouts, and go to the restaurants, and cook for yourself, so it's not like 'only Blue Apron and nothing else in your life'.

About packages: what's inside the box — easily comparable to an average person's amount of plastic bags and packs from a grocery store. You get most vegetables without additional plastic bags (unlike when you go to a supermarket), but yeah, you got 100g of rice in a separate package. But you can recycle it with other plastic bags anyway.
If you do shopping in states/countries where plastic bags in supermarkets not banned yet & the cashier do your packaging, not you by yourself in your reusable shopping bag — you'll get way too more plastic compared with those Blue Apron boxes.
The box itself, liners and plastic bags from ice are recyclable.
Those article about carbon footprint is more about the USA, not about Europe where you have supermarkets within walking distance.

ps. sorry about the wall, just wanted to cover all topics

4 years ago
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you're absolutely right. It's easy for people to say "I don't like it, I don't know why anyone else would", so an explanation is certainly helpful

4 years ago
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Hey, awesome to hear your perspective and your multiple reasons! I had already written about multiple points how I either didn't agree or saw some points that kinda lost their merit, but I accidentally closed out the tab before finishing the comment properly.

In order to keep it brief, I thought I'd just give a quick response to the points I said before. Sorry if it's too short. I don't expect you to take the time to write back to begin with, but if anything is unclear on my end, feel free to point it out :D

It's convenient. I don't have to think what I'll prepare for the dinner tonight, because I don't have a fantasy for it, but I don't like to eat the same meal that I know how to cook over and over.

I felt that it isn't exclusive to ordering food to begin with. If anything, the argument loses its merit since you also have to cook it. The entertainment that comes from cooking is obviously separate from the convenience, I'd say.

With boxes, you have a new recipe every time, and you have an exact amount of food, spices, butter, sour cream, etc. No food waste. No need to think about what to cook, no need to create a shopping list, and after that, no need to cook from leftovers.

Totally agree, main reason these services are so appealing.

I also can tell if you live alone, it's not worth it for most people, so I think couples and families — main customers.

I had a look at the prices beforehand and yeah, either it's for a family of four or two people, which is a bit more than just limiting.

About takeouts from cafes: you have to leave tips anyway, even if it's a takeout + you don't know what's exactly inside (some "healthy food" even contains sugar or sweetener, lol) + and the main problem: food from Blue Apron is much tastier (ofc, it's subjective). So, I don't find it nor healthier nor cheaper. Only quicker.

My point here was basically that healthy restaurants are a dime a dozen these days thanks to the market shifting to healthy alternatives. These subscription services literally exist solely because that trend exists. If this wasn't a thing, Blue Apron wouldn't be either. Plus, you can ask for nutritional info and ingredients from those locations. If they don't respond, you can just move on to another place, if that truly bothers you as much. If that truly is a problem, then Blue Apron should scare the hell out of you to begin with since as far as I'm aware, they never even tell you where they source things and they don't have all the information on each single ingredient. Perhaps I'm wrong here though, but the website didn't seem to say they did.

As for not being quicker... since when can you cook a meal in 1 minute? Or is it unfair if you order a meal, but fair if you order Blue Apron?

As to the price, you're in the US, so that's basically just 50 different countries inside each other, so prices can fluctuate a lot. But if the total averages have anything to do with it, then the prices are either equal or just a few cents cheaper (if you took the 3-per-week package, not even the 2-per-week, which would make the service definitively more expensive, except in the top 7 most expensive parts of America)

When someone compares Blue Apron's meal's cost with going to the restaurant: well, what can I say.. McDonald's is a restaurant too..

It's a non-argument. If a Tesla's a car, it doesn't make it less of a car when a Trabant's also a car. If all it takes for you to write off an entire classification of businesses, then you're literally so screwed because using that method with anything else would also lead you to this point. You can't get a Blue Apron delivery now because drug mules are technically in the delivery service, so scratch that off your list.

Anyway, with 3 meals per week subscription, you have chances to do and takeouts, and go to the restaurants, and cook for yourself, so it's not like 'only Blue Apron and nothing else in your life'.

I mean, fair enough, but if this is the case, then odds are you're in an upper-middle class situation to begin with, in which case money isn't a real object for these smaller payments, in which case the restriction it would place on others would not be an issue for you anymore. Of course, doesn't make the point less valid, but what you're describing isn't a realistic option for most of the US.

About packages: what's inside the box — easily comparable to an average person's amount of plastic bags and packs from a grocery store. You get most vegetables without additional plastic bags (unlike when you go to a supermarket), but yeah, you got 100g of rice in a separate package. But you can recycle it with other plastic bags anyway.

I mean, there's a lot wrong here. Perhaps America's legit that much different, but since when is that the case? Can you not buy things more than one at a time there or something? Like, when you get a carrot, that you maybe get a second one and put it in the same package? If that can happen, then you've immediately killed the argument because the amount of waste produced was sliced in half. A literal 50% drop. Perhaps America really does things that terribly, but I just can't see that happening when half the dietary problems in your country are caused by enlarged portion sizes.

Plus, recycling isn't some magic process where things just get fixed. A huge portion of plastic bags can't even be recycled and obviously they don't really decompose. Just saying "I'll recycle" after creating multiple times more waste is not a bandage to what's happening. At least food waste decomposes at an extremely rapid rate compared to the extra plastics. (though obviously still not a good alternative)

I appreciate the response however. It's good to hear new perspectives and just because I don't agree with everything, doesn't mean we don't have common ground or that we can't just respect each others ideas and thoughts. Thank you :)

4 years ago
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I said that takeouts are quicker than Blue Apron.
I said that I used meal boxes in different countries — 3 to be precise.
I said that to go to the grocery by yourself is cheaper, and I don't get why you repeat about money.
Overall: I said things about me, why I use it, and you try to extend things that work for me to the "most of the US"; as far as I know, Blue Apron doesn't want to conquer the whole world so am I don't want to persuade nor you nor someone else. Plus you say that I can eat the same quality food in the restaurants in all 3 countries cheaper than I do and saying me that even mine "it's convenient" is not right for me? Well.., ok.

4 years ago
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Maybe instead of normal bankruptcy proceedings, their creditors could buy their assets bundled as loot crates.

4 years ago
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"Ah man, I got employee medical records this month!!"

4 years ago
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one less gambling option 🤷

4 years ago
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i'm surprised it lasted as long as it did, no idea why people would fill their house with low quality products
i would rather save or waste that money on ONE good quality item, but that's just me
i can't imagine opening a random box and be like "this...this key chain with General Ross from Hulk (2003) was exactly what i was looking for" "thank you lootcrate, for supporting this podcast"

4 years ago
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I think they would have done better with more niche boxes from the start, but then, I have no knowledge of marketing/economics, just personal views. That's the reason why I stopped getting the boxes (and for a while got LootAnime as more niche than general Loot Crate), and I'm sure I'm not alone - too often it was only one or two of the items that actually appealed to my fandoms, and the rest got thrown in a box to either sell at yardsales or give to friends. Personally, I liked the suspense and mystery of getting unknown items, but the one or two "exciting" items wasn't worth the wait or price.

4 years ago
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I advice businesses from time to time, and quite a few startups. The first question I always ask is "who will buy this?" followed by "why?" and "is there a cheaper (or better) alternative"?

You'd be surprised how many wanna-be entrepreneurs can't answer those questions. Quite often they'll give some bullshit answer which I need to shoot down. admittedly, I am wrong sometimes

Marketing, on the other hand, is the art of convincing people they need to buy your product. It can range from just getting the word out, to associating a product with an idea or lifestyle. The truth is, people don't buy with their brains, they buy with their emotions, so marketing is about hitting those emotions. Nike doesn't say "we make great shoes". they show people exercising or doing sports in their shoes. That way, you associate Nike with exercise/sports.

4 years ago
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4 years ago
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Never bought any of these things. I know how they work. When they start up, the items sold are of decent quality. You're probably getting pretty good value for money and some rare items that you wouldn't otherwise get... if you like that sort of thing. When enough people are invested in a subscription, instead of improving, the items you get become cheaper. This is because they rely on good reviews and word of mouth at the start. They might even be losing money while they build the business since postage isn't cheap. Then everything gets cheaper so they can actually make profit. By then, they rely on their customers being hooked on getting those surprises every month, throwing in one or two great items here and there, just enough to keep people thinking "next month will be better." I'll never buy into those loot box things, they just aren't worth it in the long run. It's like an abusive relationship where the victim keeps thinking it will get better. lol.

Digitial "loot boxes" like Humble Monthly don't necessarily suffer from the same limitations, so they can continue to provide decent items.

4 years ago*
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Not surprised, to be honest. They've been seeking more and more money from their investors, and a while back it seems like their investors finally got tired of them and stopped pumping money into the company, and no new investors were willing to step in. And without money to buy anything halfway decent to put into the boxes, the quality dropped (if you follow Ashens on youtube, you'll probably be quite familiar with this drop in quality).

4 years ago
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I never wanted the trinkets in the regular loot crates, but I was a multi-year subscriber of the loot crate wearables. I liked the general themes of their clothing, and a good chunk of the year I'd get clothes that weren't t-shirts. I liked the variety. To me it was a good product.

However, I noticed that starting in 2018 my crates were arriving later and later. Then they missed a month. They offered a discount on a renewal when what I really wanted was my missing item. I settled for a store credit in their online store and bought a couple of shirts for my wife. Their shipping problems did not get better. When it was time to renew my subscription earlier this year, I opted not to.

So, I'm not surprised that the company is bankrupt. I could tell there was an issue. There's clearly a market for this kind of product and I think it can be done profitably, but I suspect the Loot Crate founders just got in over their heads and couldn't make it work given the volume of items they had to purchase and ship. It also has to be difficult to manage the money when they are getting yearly subscribers that pay once but get things 12 times. As long as the number of subs is increasing that isn't so much an issue, but when you struggle to get new subscribers and the money isn't flowing in constantly, balancing the books becomes a critical skill.

4 years ago
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Got this in an email.

"Hey Looter,

I am writing you with news – Loot Crate is being acquired. Our proposed buyer Loot Crate Acquisition LLC is an affiliate of an existing investor, Money Chest LLC who is providing us with immediate financial support. They know our company well – they have invested in Loot Crate in the past and have been a great partner.

As part of the sale agreement, Loot Crate filed for chapter 11 reorganization. The purpose of the chapter 11 filing is to facilitate the sale of the business and position the company to achieve the delivery times and customer experience you deserve.

You, the Looters, are our top priority. Our existing investor is providing us with up to $10 million in new financing which allows us to continue our daily operations and we intend to fulfill your subscriptions. Look for updates on deliveries soon.

As you are a big part of our Looter family, you will be receiving more communications from us during the sale process. Our goal is to fulfill the promises made to you, and we will be updating you with shipping and delivery dates as soon as we have them.

For information on the process and to answer some questions you might have, please see the FAQ below.

We appreciate your continued support.
Team Loot Crate

LOOTER QUESTIONS AND ANSWERS

Why did Loot Crate file for chapter 11 protection?

Loot Crate filed voluntary petitions under chapter 11 of the United States Bankruptcy Code to implement the sale of its business to Loot Crate Acquisition LLC, an affiliate of existing investor Money Chest LLC, while maintaining operations, continuing to ship goods and fulfill orders.

What does this mean for my subscription?

You do not need to do anything. Our buyer is providing us with new financing which allows us to continue our daily operations and our goal is to fulfill all of your subscriptions (past, present and future). Look for updates on deliveries soon.

Do I need to do anything with my subscription?

No. Your subscription is intact and you do not need to make any changes.

I didn’t get a box like I was supposed to. Will it still come?

Yes. You can expect updates on any past deliveries soon. Thanks for your patience while we sort things out.

Does Loot Crate have enough money to run its business?

We’ve got a commitment for up to $10 million in new financing from our existing investor, Money Chest LLC to support normal operations throughout the brief sale process.

Does the filing impact shipping crates?

Yes, but in a good way. With the new financing, we’re able to finish out crates that had not been shipped. Look for updates on deliveries.

How long will Loot Crate be in chapter 11?

We expect the sale process to be completed in 45 days.

What are the filing details?

Loot Crate, Inc., Loot Crate Holdings, Inc., LC Funding, Inc. and Loot Crate Parent, Inc. filed for chapter 11 protection on August 11, 2019 in Wilmington, Delaware. All the legal information can be found at https://cases.stretto.com/lootcrate
. Toll free (877) 272-4403 or for international callers (949) 229-3562. "

Mon, Aug 12, 2:11 AM (7 days ago)

4 years ago
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Closed 1 year ago by FateOfOne.