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Technology Stocks : eBay - Superb Internet Business Model

EBAY 90.90

0.0%

Jan 9 9:30 AM EST

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To: Bill Jackson who wrote (7086)	11/17/2002 10:49:41 AM
From: AJ Berger	Read Replies (1) of 7772

not just float, but outstanding! Bill, just to clearify your earlier statement. GSCO does not control 50% of the Float(223m), but 50% of ALL(309m) Shares in EBAY that exist! The most recent Nasdeq figures has Goldman at 153m! Your observation that EBAY listing fees are growing while final sales prices and number of final sales is shrinking is spot on. EBAY conveniently only uses listing fees as a growth indicator to mask this fact. It's the same way EBAY says it's total membership is over 50m, when everyone knows that the average individual has 2 or more accounts on EBAY, so the actual number of individual account holders is a third of what EBAY brags is the case. I myself have 3 accounts, one for buying, one for selling, and one for buying "socially incorrect" items. Many of my friends have at least 5 accounts, so they can shill bid against their own auctions.

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