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The Rise and Fall of Wish, the Walmart of Ecommerce

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Donald Trump won the presidential election on November 8th, 2016. On December 2nd, Wish’s then-CEO, Peter Szulczewski, offered his (highly anticipated, no doubt) two cents on the win.

In a Medium op-ed titled “The Invisible Half,” Peter argued that the election shocker was a vindication for Wish’s business model. Just like Trump, he opined, Wish had been turned away by Menlo Park fat cats out of touch with the “value conscious consumers” Wish targeted.

He stopped short of saying that he and Trump targeted the same audience. Still, it was a bold statement that could only come out of a time of great upheaval. Now, just as the “Trump train” went off the rails, Wish faces a rude awakening.

How it all started

Prior to founding Wish’s parent company, ContextLogic, Szulczewski worked as an engineer at Google for several years. He left in 2009 and took six months to code an ad recommendation platform that predicted people’s interests based on their browsing behaviors. Sound familiar?

ContextLogic launched in 2010 and garnered $1.7 million from investors—with the help of Yelp CEO Jeremy Stoppelman. What did they do? At the outset, they offered the ad software that Peter coded. According to Forbes, investors weren’t wild about ContextLogic’s business plan, but they loved the tech.

Still, ContextLogic didn’t really know what kind of company it wanted to be. It was only when Szulczewski brought on Danny Zhang—his old friend from college—as cofounder that the wheels started to spin.

In a meeting with investors, Peter and Danny unveiled a new plan: ecommerce. At the time, Amazon had already been running the game for upwards of a decade, and the ecommerce field was seen as a nonstarter.

In 2011, Facebook offered $20 million to integrate ContextLogic into its own system. Peter turned it down, to the chagrin of some investors, but for better or worse, that decision is what gave us Wish.com.

A Wish come true

Have you ever wondered why the ecommerce platform is called Wish? Well, back when it launched as Wishwall.me in 2011, it was more of a wish list than a shopping site. Using Facebook ads, it invited people to browse products and select what they wanted—but not actually buy them from the site.

This all turned out to be part of the plan. Once they got a solid user base, they went to vendors off of eBay and Amazon. They promised ready buyers, but only if sellers provided their stuff at a discounted price.

Wish’s strategy of targeted ads and discounted deals helped them grow consistently throughout the 2010s. Once they started selling on-site in 2013, they noticed that most of their sales were coming from Florida, Texas, and Middle America.

This defied the conventional wisdom that tech-savvy urbanites made the most use of ecommerce. It’s why Vox labeled them “the next Walmart” in 2015. Their discounted, third-party goods appealed to people who couldn’t afford what Amazon and other online retailers offered.

The highs and lows

It’s not hard to see how Wish’s rise mirrored the early “what just happened?” narratives of Trump’s victory. One thing Wish and Trump definitely have in common: their times on top were equally turbulent.

In 2017, Wish was the most-downloaded ecommerce platform in the US. In 2018, itt was the most-downloaded in the world. They signed a lucrative multi-year deal with the Los Angeles Lakers, they ran a World Cup campaign soon after, and their valuation soared into the billions.

At the same time, the higher Wish’s profile got, the more it became associated with shoddy experiences. Horror stories started to mount about people receiving products that were nothing like their photos… if they ever received them at all.

The New York Times reported that these mishaps weren’t always by accident. Fake stores and rip-off contests were operated by the company as “experiments” to see whether customers would complain. Wish became content creator shorthand for hilariously bad bootleg products.

And that’s when things were good.

Wish’s descent into chaos

In a way, it’s surprising that Wish fell as far as it did in the early ‘20s. If any industry wasn’t steamrolled by the pandemic, it was ecommerce.

Things started out strong; Wish continued to grow at the onset of COVID-19 and even went public in 2020, valued at $24 a share. The thing is, the more prominent it got, the more complaints grew.

They came under fire for targeting explicit ads at children. Cries of copyright infringement and false advertising led to hundreds of complaints to the Better Business Bureau.

In 2021, Wish’s valuation fell 82%. Today, you can buy Wish stock for less than $2, the sort of steep discount you’d expect to find on their app. Peter resigned suddenly in 2021; internal reports say he all but vanished from the office once Wish went public. The new CEO, Vijay Talwar, is still in the process of recovering the brand.

What happened?

The way Wish tells it, they struggled due to rising costs of ads that forced them to scale back their marketing. Wish is, after all, primarily a marketing business model. Targeting ads to consumers based on their history came first; the ecommerce site was an afterthought.

Truth be told, maybe Wish’s business model was doomed to start with. The initial idea was cool, sure, but outsourcing commerce to third parties offering steep discounts is already precarious, and Wish seemed quite willing to dig into it.

There is one other reason. You see, a big part of the reason Wish’s products could come at such steep discounts is because of a peculiar postage deal between the U.S. and China. A 2011 agreement allowed packages of 4.4 pounds or less to be shipped to the U.S. from China for less than the cost of shipping between states.

In 2018, Trump announced his intent to withdraw the U.S. from the Universal Postal Union. Postal agreements with China categorized the country as developing, which he felt gave them an unfair advantage. One year later, a new deal was struck, keeping the U.S. in the Union and making it more costly to ship goods from China.

However you feel about that decision, it certainly didn’t help Wish. Szulczewski said at the time that Wish had a plan in place anticipating this change. But if you look at Wish’s rise and fall, both in value and in reputation, it definitely seems to line up.

That’s just one more thing that Wish and Trump may have in common: the person who caused their downfall.

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Top 10 Best Places to Buy a Mid Century Modern Office Chair

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What was once old is new again: mid century modern is back in style. From architecture to furniture, the postwar look is in, and the hype extends all the way to office chairs.

Do you need a mid century modern office chair in your life? If so, there’s plenty to choose from. Your office chair should be tailored to your style, whether you like luxury, utility, or something in between.

That’s why we’ve put together our 10 favorite places to find your ideal mid century modern office chair.

What is mid century modern design?

After World War II, spirits were high in the US, and new technology was taking the country by storm. Mid century modern refers to the design concepts that came about during this time.

As opposed to the frilly, ornate designs of classical furnishings, mid century modern designs are angular, material, and functional. Wood is a common design element, especially teak. Mid century modern furniture may also have materials like glass, vinyl, and metal. Designs are simple and geometric, with bold accent colors to make them pop.

The mid century modern aesthetic never really went away, but it’s made a noted comeback in recent years. Some have chalked it up to Boomer and Gen X nostalgia, others point to mid-century-set shows like Mad Men and The Marvelous Mrs. Maisel.

Why should I buy a mid century modern office chair?

A mid century modern office design
source: Modsy

Mid century modern is the perfect fusion of style and utility. If you want to cultivate an office space that commands respect without being ostentatious, mid century modern is the style for you.

When it comes to office chairs, an MCM one is often made with sturdy wood and vinyl. They combine the ergonomics of a modern office chair with old-fashioned grace.

If you’re concerned with utility and utility only, a more bog-standard office chair may suit you. But a mid century modern office chair is great for someone who wants to wow colleagues with a mature, thoughtful business space.

Where can I get a mid century modern office chair?

1) Wayfair

mid-century office chair

When it comes to furniture, Wayfair offers the best of both worlds. Their goods, including their mid century modern office chairs, are stylish and affordable. You can get a sturdy task chair for less than $100 or a more distinguished seat for less than $350.

MCM office chair examples: Dovray ($126), Bradford ($139), Lithonia ($133)

2) France & Son

mid-century office chair

Wayfair’s chairs are affordable, but France & Son is the perfect option for luxury shoppers. Their mid century modern office chairs are robust and sleekly designed. If you dress to impress and enjoy the finer things in life, these are the chairs for you.

MCM office chair example: Brooks ($695)

3) Houzz

mid-century office chair

Started as a community for people to share home decor tips, Houzz has become a great ecommerce platform for finding stylish furniture. They’re more known for home decor than desk chairs, but they have plenty of great, affordable finds if you know where to look.

MCM office chair examples: Arvilla ($173), Rathburn ($259)

4) Laura Davidson

mid-century office chair

The Laura Davidson collection offers a fairly limited selection of classic office furniture. Still, there’s a reason they’re trusted by big-wigs like Apple, Disney, and Salesforce. Their chairs are sturdy and beautifully designed, reimagining classic Eames and Knoll designs.

MCM office chair examples: Rockefeller ($275), SOHO II Soft Pad ($450)

5) Icons of Manhattan

mid-century office chair

Icons of Manhattan has a simple philosophy: do one thing, and do it right. Their office chairs are handcrafted from premium materials and tailored to a mid-century modern style. If you want that Mad Men energy in your office (hopefully with a lot less angst), these are the chairs for you.

MCM office chair example: Ribbed Medium ($219)

6) Amazon

mid-century office chair

Yes, the internet’s premier shopping destination has a robust collection of mid century modern office chairs. Like with most products, their selection of seats is vast and can be hit or miss. Still, they’ve got stunning chairs available for any style, whether you care about comfort, class, or ergonomics.

MCM office chair examples: IDS Home Modern ($219), Art Leon MCM Swivel ($139)

7) AllModern

mid-century office chair

AllModern’s collection of desk chairs and other furniture truly embodies the mid century modern spirit. Their work is tight, angular, and functional above all. They’re part of the Wayfair family and they traffic in a number of modern styles, but their sleek chairs are perfect for any mid century modern space.

MCM office chair examples: Frederick ($229), Kealey ($349)

8) Overstock

mid-century office chair

Overstock is known as a one-stop shop for quality home goods at sub-wholesale prices. If you want a spiffy mid century modern office chair that won’t break the bank, they’re the first place to look. While they’re somewhat less reliable than the more upscale platforms on this list, their selection is massive.

MCM office chair example: Joseph Modern ($163)

9) Walmart

mid-century office chair

Hayneedle’s selection of mid-century modern office chairs falls somewhere between the minimal Laura Davidson and the endless Amazon catalog. Their array of mid-century designs is affordable and versatile, with chairs that match almost any style. While they may be part of the Walmart family, these chairs are anything but second-rate.

MCM office chair example: Waleaf ($97)

10) Target

mid-century office chair

Why splurge when you can save? As usual, Target is a hidden gem, offering a sturdy selection of mid century modern office chairs for some of the cheapest prices out there. Many of the chairs they offer are from the same designers as these other stores—Christopher Knight, LumiSource, Armen Living, etc.—at reduced prices.

MCM office chair example: Lombardi ($136)

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The Best Online Payroll Services [Updated for 2025]

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A quality payroll service is one of the most invaluable tools any entrepreneur can have. Whether you’re a small business owner or an HR manager, paying your employees on time is crucial. This makes choosing a service even more weighty, after all, it is a heavy administrative burden. The good thing is, you can outsource this duty to an online payroll processor.

According to statistics, 49% of workers begin a new job search after just two paycheck errors, and with 65% of workers living paycheck to paycheck, it’s more important than ever to ensure an efficient, effective payroll process.

These services can save you precious time and mitigate potential issues. To make it easy for you to choose, we listed the best online payroll services for 2025.

Top 5 Online Payroll Services

Gusto

 online payroll services

Gusto is a great option for both new and experienced payroll administrators, boasting an incredibly clean user interface and a first-rate payroll setup. Gusto lets you manage your employee’s time off (vacation and sick pay), company health insurance, and worker’s comp. Gusto offers excellent mobile access, too. This allows employees to manage aspects of their Gusto profiles, view payday insights, and access Gusto Wallet financial tools. 

Gusto offers four tiers of membership, the most affordable of which is the Contractor’s Only plan, which offers unlimited U.S.-based and global contractor payments, supporting more than 100 countries, plus 1099 creation and filing at a rate of $6 per person per month with no base price.

The other three are Simple, Plus, and Premium. Here’s a deeper look into each plan:

Simple 

Price: 

$40/mo + $6/mo per person

Plan details:

  • Full-service single-state payroll including W-2s and 1099s
  • Employee profiles and self-service
  • Basic hiring and onboarding tools
  • Gusto-brokered health insurance administration
  • Employee financial benefits
  • Payroll and time-off reports
  • Custom admin permissions
  • Integrations for accounting, time tracking, expense management, and more

Plus

Price:

$80/mo + $12/mo per person

Plan details:

(All Simple plan features +)

  • Full-service multi-state payroll including W-2s and 1099s
  • Next-day direct deposit
  • Advanced hiring and onboarding tools
  • PTO management and policies
  • Time tracking and project tracking
  • Workforce costing and custom reports
  • Team management tools
  • Full support

Premium

Price:

Bespoke pricing, reach out for a personalized quote

Plan details:

(All Plus plan features +)

  • HR Resource Center
  • Compliance alerts
  • Access to certified HR experts
  • Full-service payroll migration and account setup
  • Health insurance broker integration
  • R&D tax credit discount
  • Waived fees and exclusive pricing
  • Performance reviews
  • Employee surveys and insights
  • Dedicated support

QuickBooks Online Payroll

online payroll services

Founded in 1983, Intuit is a California-based financial software company. Since its inception, Intuit has developed into one of the best-known providers of accounting software. Their online payroll service, QuickBooks, includes the essential features you need to run payroll.

QuickBooks offers three tiers of membership. The least expensive membership covers basic accounting features, such as invoices. For more features, check out the Essentials and Plus memberships. Each plan’s features are as follows:

QuickBooks Simple Start (2025)

  • Price: $38/month for 1 user
  • Best for: Freelancers and small teams with basic payroll needs

Features:

  • Automated bookkeeping
  • 5 free ACH bank transfers/mo for bills

QuickBooks Essentials (2025)

  • Price: $75/month for 3 users
  • Best for: Small businesses needing deeper financial tracking

Features:

  • Includes all Simple Start features, plus:
  • Recurring invoices

QuickBooks Plus (2025)

  • Price: $115/month for 5 users
  • Best for: Growing businesses with HR and compliance needs

Features:

  • Includes all Essentials features, plus:
  • AI-powered profit & loss insights
  • Anomaly detection and resolution
  • Budgeting

QuickBooks Advanced (2025)

  • Price: $275/month for 25 users
  • Best for: Established businesses with HR and compliance needs

Features:

  • Includes all Plus features, plus:
  • Custom user management and permissions
  • Custom report builder
  • Data sync with Excel
  • Revenue recognition
  • Forecasting

OnPay

online payroll services

OnPay is a cloud-based full-service payroll processing system capable of running payroll according to a preset schedule, automatically disbursing wages, and calculating and withholding taxes. 

OnPay can sync up with several other software your team is already using, making it easy to integrate the service into your team’s system. Another benefit of OnPays model is the simple, transparent pricing structure. No tiers; just one base rate.

Pricing: 

$49/mo + $6/mo per employee

SurePayroll

online payroll services

SurePayroll’s award-winning service supports W-2 employees and 1099 contractors. Additionally, it handles 401(k) deductions and manages flexible spending accounts (FSA) and health savings accounts (HSA).

SurePayroll also offers a mobile app— available on both Apple and Android devices. 

SurePayroll offers live support through its United States-based support team through chat, email, or phone.

Small Business Payroll

  • Price: No Tax Filing: $20/month + $4 per employee, Full Service: $29/month + $7 per employee
  • Best for: Small businesses and startups

Features:

  • We file and deposit your federal and state taxes!
  • Run payroll in 3 simple steps
  • Schedule payroll to run automatically
  • Unlimited payroll runs and free 2-day direct deposit
  • Reports and pay stubs are available online 24/7
  • Supports W-2 employees and 1099 contractors

Nanny & Household Payroll

  • Price: Full-Service Household, $39/month, includes 1 employee, $10 per additional employee

Best for: Homeowners

Features:

  • Signature-ready Schedule H
  • We file & deposit your federal and state taxes!
  • Run payroll in 3 simple steps
  • Schedule payroll to run automatically
  • Unlimited payroll runs and free 2-day direct deposit
  • Reports & paystubs available online 24/7
  • Supports W-2 employees & 1099 contractors

Be sure to choose a payroll service that works for your business, and provides you with the peace of mind that comes with a reliable bookkeeping system. Your employees will thank you.

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Business

Merck Seagen Buyout: What to Know About the Deal

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Team talking about merck seagen buyout

Merck is currently in talks to acquire Seagen, a biotech company. The Wall Street Journal reports that the transaction is valued at $40 billion. And what happens if Merck acquires Seagen, and how would this acquisition benefit cancer research and treatment? Read more about the Merck Seagen buyout here.

Merck Seagen Buyout

Merck and Seagen are still deciding on their share prices. So far, talks have yet to reach an agreement on $200 per share. Both companies want to settle and finalize their deals before Merck announces its quarterly earnings on July 28. At the time of writing, Seagen’s stock was at $176.19.

With an estimated market value of $235 billion, Merck is looking to expand its presence in the cancer treatment space. The Merck Seagen Buyout could play a major role in that strategy. Since Seagen specializes in targeted cancer therapies, the acquisition would give Merck access to a broader range of oncology products.

Shareholder reactions to the new deal are overwhelmingly positive, and the stocks have been up since talks about the deal have been made public.

But this is not the first time that Merck and Seagen have made the news. Back in 2020, they collaborated because of cancer treatments. Seagen has a drug conjugate (ladiratuzumab vedotin) which would be used in conjunction with Merck’s Keytruda.

Merck reveals that Keytruda is its highest-selling product. It’s immunotherapy for cancer.

And this deal could help Merck offset the possibility of reduced sales because it will lose patent protection in 2028.

As promising as this deal is, there could be scrutiny from antitrust officials since there might be a litigation case from the Federal Trade Commission or Justice Department.

The Seagen buyout isn’t the only deal Merck has made recently. They’ve been busy closing another deal, but with Orion too.

Seagen

As a cancer biotech company, Seagen has therapies to ensure that patients benefit from the treatment and reduce any adverse side effects. Their treatments involve the therapy attacking tumors with toxins.

Merck partnering with Seagen isn’t a bad idea considering that Seagen made $1.4 billion in sales in 2021, most of it coming from Adcetris and Padcev (a treatment for urothelial cancers).

Merck-Orion Deal

In the middle of the Merck Seagen Buyout, Merck has recently partnered with Orion for the ODM-208 and other drugs. These drugs are related to the production of steroids. Orion found how it can combat hormone-dependent cancers and further developed this inhibitor.

Their deal includes that they should develop ODM-208 and promote it to the public together. And Orion will receive a $290 million payment from Merck.

Although they’re co-developing and marketing the new inhibitor, Orion will oversee the manufacturing side.

Co-developing the ODM-208 can help Merck with its current research and treatments for prostate cancer. President and CEO of Orion, Timo Lappalainen, says that this partnership will benefit Merck’s goals of treating cancer worldwide.

Other Ventures: Merck’s Role in the Pandemic

You may have heard about COVID-19 pills, which are a form of treatment for those diagnosed with mild to moderate COVID-19. Merck introduced an antiviral COVID-19 pill to the public. The name: Molnupiravir.

The COVID-19 pill is not a replacement for a vaccination. Instead, it stops the replication of the COVID-19 genetic code and keeps the patient out of the hospital. Not yet FDA-approved, Molnupiravir has been authorized for emergency use since December 23, 2021.

And for other stories, read more here at Owner’s Mag!

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