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To: Jeff Dryer who wrote (4278)	7/26/1999 9:07:00 PM
From: Nelson Chang	Read Replies (2) \| Respond to of 7772

>>>So, isn't the stock market a more efficient application of matching buyers and sellers than online auctions?<<< Am i missing the point of your analogy??? I didn't know they started matching buyers and sellers of Swarovski Crystal Chickens on the stock market. >>>With that said, why is eBay valued at $14 billion and E*Trade valued at $7 billion? <<< My take is that each company is valued according to its position in the industry and the size/potential of that industry. For example, EBAY owns a relatively bigger chunk of its industry than EGRP. And the growth rate of online auctions is far greater than online trading. But who knows, this can all change when they start matching buyers and sellers of Ralph Lauren Barbie dolls on the stock market. And in all seriousness, EBAY's market cap is going to change in an interesting way tomorrow.

To: Jeff Dryer who wrote (4278)	7/26/1999 9:11:00 PM
From: Steve Antonelli	Read Replies (1) \| Respond to of 7772

Hi Jeff... in comparing Ebay to Etrade, shouldn't we take into consideration the market share which Ebay has compared to it's competition? One can open up a brokerage account at any number of online brokerages and have access to the same stocks. I can buy and sell Yahoo for example with nearly identical results whether my account is with Etrade or discoverbrokerage (which it is, BTW)... With EBAY, as has been stated often on this thread, what makes it so attractive is the volume of buyers and sellers. This is what distinguishes it from it's competitors. I'm not sure what is so special about Etrade (would love to hear as I have considered it as an investment at some point)... Now, I have been one of the critics of EBAY for the past couple of months. I still think they need to address their customer service issues, and obviously the reliability issues. But, EBAY is now starting to get to the attractive buying level that I thought might be possible. I will be seriously looking at making a buy if it hits 80 or lower. Doug has stated 50... which kinda blew me away. Could EBAY go THAT low? If it does, what a tremendous opportunity that would be.... disclamier: neither long or short EBAY, but long on others and getting killed right now! PS: GNET starting to look real attractive too!

To: Jeff Dryer who wrote (4278)	7/27/1999 12:38:00 AM
From: 10K a day	Read Replies (1) \| Respond to of 7772

<<< re:...ebay & Etrade..."I'm interested in the relative valuations of these two companies who are both leaders in their respective spaces" >> ============ Pardon my Cosmic relatives and Non-Linear Thoughts.... Ebay (BRAND) or a Yahoo or an Amazon could acquire a brokerage, and effectively establish a competitive ECN overnight, Why Not...Throw Down the Gauntlet. In the same cosmic sense E-Trade (BRAND), IMO, could not acquire the Massive Extra-Brand Traffic to springboard it's biz based on the public's perception of it.......