So Amazon is getting on the refund/credit bandwagon, handing out $50 credits to anyone who bought an HD-DVD player from the site before February 23, 2008.
Amazon joins Wal-Mart, Best Buy and a handful of smaller retailers in offering some kind of compensation for people who bet on the wrong high-def horse.
Methinks there is a business opportunity lurking here: early adopter insurance.
Here’s how it would work: Whenever you buy any new technology that’s been on the market less than two years or is in a format war with a similar tech, a retailer could sell you $50 early adopter insurance.
If your gadget either ends up not being widely adopted (e.g. laser disc) or gets nuked by a competing format (HD-DVD), you can use your insurance to get a full refund on your device or swap it for the winning technology (trade in your HD-DVD player for a Blu-ray player).
You could also use your early adopter insurance to upgrade your gadget if the gadget maker releases a new-and-improved version within, say, 60 days of when you bought your now-obsolete device. Bought your iPhone the week before Apple announced the 3G version? No sweat. As long as your device still works and you kept all the packaging, you could just stroll into a store, show your receipt, and walk out with the upgraded version.
Man, I should be a consultant.
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