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Having had shares longer than he has and still holding, I don't see why I would be trying to ramp down Paul Warren's dearly beholder SHP shares.

YHD was meant to be a profitable business when SHP bought it. Can't say I'm too sure about Warcom though. But let's say they were all profitable, long standing businesses. Why would SHP come along, put them together, consolidate their costs and all of a sudden the combined entity becomes unprofitable? Surely it's not just Simon's salary and the directors' fees that tip the scale right?

Reality is that there are so many small mums and pops shops online that barely break even after paying the sole owner $50k salary a year, not different to the local milk bar. 10 years later SHP comes along with shareholders cash and sells everyone a pipe dream.

Close to zero switching cost online for customers, and they now know that they don't know if and when their purchases show up at the door, no one wants to take that risk buying with Shoply.

GLTAH