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Technology Stocks : eBay - Superb Internet Business Model
EBAY 95.20+0.8%Jan 27 3:59 PM EST
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To: astyanax who wrote (2446)4/1/1999 7:41:00 AM
From: astyanax  Read Replies (1) of 7772
 
Why is AMZN engaging in an insane "honor system" anti-fraud policy? I understand the
strategy behind this is (at least partly) to lure the potentially enormous segment of the
online population hesitant to do any online auctions for fear of fraud.

HOWEVER, I am "in the trenches" of auctions, using Ebay everyday. And already I have
been *ripped off* by two people in Ebay auctions. I was able to get one such user,
'bobfowler' suspended, but another is out there still on the prowl. Anyway, my point is,
transactions that go turn out very badly (even if it's unclear whether outright fraud is
involved) are *somewhat common*.

This may surprise some of you that have taken Ebay's "we only have 27 cases of fraud
per 1 million auctions" stat, which is misleading, at face value. So AMZN will increase
newbie traffic with this program, but does anyone know how widespread the abuse of
AMZN's "walk all over us like carpet because we're naieve" policy will be? I'm telling
you, there are a few people who make it a *career* of trying to scam online auctioneers. I
can already think of how, if I colluded with another like-minded individual, could easily
make some $ off of AMZN's policy.
Your thoughts?
- Netconductor.com
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