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To: GST who wrote (130824)	9/1/2001 6:28:48 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164685

You make a good point -- what do they sell? It seems to me that they are an "internet" company in the sense that most people were thinking of years ago. They are an online "market". This is one area that always made sense to me as a use of the internet -- communications, information and market-creation. Ebay does not just facilitate trades in the market -- ebay "is" the market, something like the way the NYSE and the Naz "are" the stock market. This does have entry barriers. I agree completely. One is hard pressed to place Ebay into an industry group that already existed. We think of retailers, tech firms, manufacturing heavy and light, etc. but none of these including service quite fit. Service may be the closest of the prior known industry groups.