There has been a lot of excitement about the daily deal being the next big thing in online marketing. It's actually just a clever repackaging of old ideas. Google's entrance into the space with Google Offers gives the daily deal business a legitimacy it doesn't deserve. There is a false perception that Internet magic is why these daily deals are so cheap. Most accounts in the mainstream press tout the great deals, but don't explain where the savings come from. None of the press coverage of Google Offers in Portland mentioned how bad the deal economics are for businesses.