How to pronounce “ebay” in English

That five star rating system.eBay invented the idea of online reputation systems that things like Uber, Airbnb, Yelp,all these sorts of things.

And what kind of wealth would be created?EBay, same story, think about all the AdSense partners in the early days.If you had told me when we were in Gadget is AdSense going to work?

I'm guessing Androids no iPhones but he sells smartphones used smartphones oneBay makes $20,000 a month and another guy named Jeremy he actually help thisguy go from $40,000 to $1.8 million in a month and lastly Matt he does product launches he helped his clients last year

So look at the biggest players on the internet.eBay and Amazon are middleman businesses.Uber and Airbnb are middleman businesses.

or so ago Newton I sat down with her and she said the the feedback and ratings model that made eBay it really made eBayeBay I mean she took a company that was about I think 30 million in profit maybeyou know 40 or so employees um and she turned it into a company that you know

Everyone has some sort of hobby that eBay could serve.So eBay, again, like AOL, was a lot of normal people's entry onto not just surfing web sites but being active on the web.So that's number one.

and whatever activity they do on your platform.So eBay deserves more credit for being a pioneer that's created our modern world.I fought hard to keep a lot of stuff about the dot-com bubble in the book, because not only is it just friggin' fascinating, but I think

And I'd just like to read you-- if you'll humor me-- a small excerpt from my book of what happened when I actually bought a sample of Elvis Presley's hairon eBay. So this is chapter 6, "The King of Rock 'n' Roll." It goes like this."When it finally arrived, I was more than a little disappointed.

That's basically what Alibaba has been successful in, not charging merchants to sell.And eBay was always saying, free is not a business model.Because eBay used to charge, and it was too late.

And eBay was always saying, free is not a business model.Because eBay used to charge, and it was too late.So I have a whole chapter on the-- it's kind of like the, Hurricane Katrina, "heck of a job" kind of eBay disaster in China.

have advice about what to do to start that, what to do to make that successful for someone else?Definitely eBay is great.Oh, eBay is great.

But if we have more than 10, then we'll make finger foods.Or eBay. And speaking of eBay, it's been great to find the really hard to find items.

And you can go and buy them and trade, and there's a whole marketplace for it.And eBay. You can do whatever.But pizza boxes, there is none.

incredibly powerful, which is that the trust we form face-to-face can now be replicated online through points, feedback, power sellers and Roo and I noticed that these two principlesthat eBay had proven on steroids, trust and efficiency were enabling us to mimic the exchanges that used to take place in villages, but in ways and on a scale that had never been possiblebefore. So, in other words, technology was actually taking us back to really old market behaviors. So, we're swapping and sharing and bartering and trading, but they're being

were forced on them; they had to add another income stream to their life so they did things after work in their homes, or they tried to sell things on the weekend, or they developedan EBay or Amazon cont-, account to sell things.Overall, Pink added up in about 2001-2002 that there were 35 million people who were sole proprietors working on their own businesses or working in very small family businesses

the way um a million people either all are earning all or part of their incomefrom eBay today um be true to yourself I think also has a lot to do with letting go of your message very radical Conceptin Washington DC but I think Google clearly gets it I mean I I fired up the the home page my Ig Google page this

The next week after that, we were actually acquired by eBay.And I led the eBay-PayPal integration for a couple of years.And it was just such a front row seat to everything happening in tech at the time, learning about integrations, learning about tech.

for $4 billion, which is obviously a fantastic outcome.So I'm sure eBay was thrilled about.Couple of points there-- so, you know, StubHub was a bigger company.

for empowering people to really lift themselves up.If you think about eBay as a marketplace where everyone could be a buyer and a seller, it was, at the core, a project in that idea of empowerment.And so when eBay IPO'd, Pierre took much of the wealth he accumulated and rolled it into Omidyar Network, as well as our sister institutions,

If you think about eBay as a marketplace where everyone could be a buyer and a seller, it was, at the core, a project in that idea of empowerment.And so when eBay IPO'd, Pierre took much of the wealth he accumulated and rolled it into Omidyar Network, as well as our sister institutions,to have social impact through, for- and non-profit investments.

And by eBay, because I like to look stuff up as well, I realized that he had written a book and it was entitled "Black Man in the White House."

could expect a reasonable chance that you could do a successful transaction with them.And because eBay had that-- anybody has a hobby.Everyone has some sort of hobby that eBay could serve.

Some of the best-- the best investment of the time was eBay.If you invested in eBay's IPO, I think you did something like 10,000%.And by the way, eBay went down a little bit after the bubble burst, but it actually continued to go up after the bubble.

I got them off eBay.

And along came eBay and Amazon, early days.

amazing things eBay seriously yeah the thing about it is that you and I understand the newspaper business um and

What would happen if we did that?And I went onto eBay out of curiosity, and I put in the phrase "celebrity hair," because I was intrigued to see what would come up.And it's really interesting if you do that.

Think of it as eBay without eBay.

E-commerce at eBay, Amazon, Etsy is not analogous to catalog shopping.

So I have a whole chapter on the-- it's kind of like the, Hurricane Katrina, "heck of a job" kind of eBay disaster in China.And to eBay, to their credit, was quite early.Meg Whitman had an early passion for China based on some family connections that I review but messed up the advantage they had with each net,

But where we are seeing the bigger impact actually is in emerging markets.They did the eBay thing.

I'm also talking about individual middlemen who are thriving thanks to the tools of the internet.So think about eBay.Anybody can buy and sell directly through eBay being a middleman but most of the trade on eBay actually flows through resellers,

Anybody can buy and sell directly through eBay being a middleman but most of the trade on eBay actually flows through resellers,through trusted middlemen on eBay.And on LinkedIn, something very similar happens.

So a really clear demonstration of how a middleman can solve this quality problem is apparent on eBay.Because on eBay, it's all right there.You can see who is doing the selling.

So one of the people I interviewed for the book is a woman who is a PowerSeller on eBay.PowerSeller is eBay's designation for its most active and reputable sellers.She gave up a career as an appellate lawyer to sell luxury designer goods on eBay because, gosh, it was just a quick way

Like I have an eBay store, I want to learn from what you've done, whatever.

But if we have more than 10, then we'll make finger foods.When I go on eBay, I make sure to pick the option on the left-hand side that says second hand or used or pre-owned sometimes.

This is pre-eBay. And people would throw things out.

And then I discovered eBay, which was just kind of coming into its own around that time-- this was like 2002 or so.

Unlike say an eBay, or a Kickstarter, we don't then send a check.

And the experience on eBay, at the same time, is getting worse, while Amazon's is getting better.

I bought mine on eBay.

So two came from eBay, one I think we were able to borrow from a camera collector.

when the eBay logo appears, Christmas bells jingle in the background.]

actually on eBay a couple years ago for $10. And um you uh it was it was a total

of course eBay and some V variety of different antique websites to check out and see well I you know kind of curious

And you can still buy readers on eBay with these extra symbols in them.

And so it was an incredible journey.And I was working on the eBay business.And suddenly, we were acquired.

And same for a marketplace company like eBay or same as many, many products out there.