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Patrick Byrne, the site's founder and CEO, says his next project is to do his version of VCE: resell surplus tech hardware not only to consumers but also to mom-and-pop retailers for around 40% off the wholesale price. By comparison, mega-stores like WalMart usually get at most a 10% discount from jobbers or liquidation agents. Couple that with Overstock's tiny minimum wholesale order--six units--and it appears that Byrne is trying to play Robin Hood to America's 130,000 small retailers. "These guys are getting put out of business by WalMart because they...

Author: /time Magazine | Title: E-Commerce: They Love The Slump | 6/11/2001 | See Source »

...Around 10 or 11, I would come home from school, and in the couple of hours before my Mom came home drink gin and cranberry juice. I managed to stay holed up in my room so that she didn't notice. At 13 I discovered social drinking, and found a whole new world. I didn't feel too fat, I didn't feel my hair wasn't right. My goal was always to be the most drunk person at the party...

Author: /time Magazine | Title: The Wasted Days of Youth | 6/11/2001 | See Source »

...Mom was really scared. She didn't know what was going on. She didn't think I was drinking. On my 15th birthday I was picked up by the cops on runaway charges and was sent to live with my Dad. I was pretty much loaded the entire time I lived there, and I realized later that my dad thought that me loaded was me sober. He didn't know me any different. Eventually I ended up in treatment, and was sober for almost a year. Then I took one sip of beer and my life fell apart instantly. Within...

Author: /time Magazine | Title: The Wasted Days of Youth | 6/11/2001 | See Source »

...Soon I was coming home at 4 a.m., head in the toilet, without my car, but on paper I looked good so my Mom could deny it. I was in the top five percent of my class, I was the editor in chief of the school paper, the student council secretary. I burned out my friends. I woke up one morning at college, with vomit on the floor, and a call from some guy who had my bag and would only give it back if I gave him $500. That's when I got the AA number. I wrote down...

Author: /time Magazine | Title: The Wasted Days of Youth | 6/11/2001 | See Source »

...first drink was when I was 14. I went to my grandparent's house and filled the water bottle on my bike with bits of everything they had. My friend was supposed to come over but he bailed on me. My Mom was at her boyfriend's. I sat on the couch, alone, sipping, and thought I would feel something right away. I drank the whole thing and woke up in the hospital. Even after it almost killed me, I definitely wanted to have it again...

Author: /time Magazine | Title: The Wasted Days of Youth | 6/11/2001 | See Source »

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