How PayPal Transformed And Then Ruined eBay

eBay’s purchase of PayPal was, in the first instance at least, a truly INSPIRED purchase. It really was. Here’s why: Consider this: In effect, eBay is simply a means for people to list items for sale and “agree a price” – the latter being the auctioning process.  The point is, once a price is agreed, the company is no different to any other which enables people to list items, for example, Craigslist. Now, on Craigslist, you cannot actually BUY. They take no responsibility for that, and indeed, there are pages and pages of warnings to potential Buyers to take precautions and not get scammed while transacting.  This is because Craigslist understand that the single most important and complex risk in the Buying and Selling process is “payment risk” and they just don’t want anything to do with this. But imagine the transformative effect that a listings website would have if…

Continue Reading