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News Link • Business/ Commerce

Reflections on Overstock

•, Patrick Byrne

I have been asked elsewhere on this site why I "abandoned" Overstock and what do I think of its prospects now? I recently replied in a lengthy comment. I think it best if I elevate my answer to a full post, here, now that I am free to do so, and be open with my understanding of the firm's future.

Leaving Overstock

As far as "abandoning" Overstock, talk to the board. Yes, I had come forward a month earlier about this federal stuff, but I had said what I thought I needed too, and was prepared to ride things out. It was not out of the question that the statements I had made did not hurt sales: in fact, early indications were that traffic picked up (though conversion had not). I gave the board the option of telling me they wanted me to leave: they did not.