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To: Victor Lazlo who wrote (144054)7/22/2002 7:46:31 PM
From: Lizzie Tudor  Read Replies (1) | Respond to of 164684
 
so you would have turned down an offer from ebay then, with those terms, if you were Paypal management- is that what you're saying?

Its one thing for existing shareholders to be unhappy with terms of a buyout, based on what they perceive their stock could be worth in say, 3 mos. The longterm holders of Paypal which include the VC, existing management and large institutional shareholders (I believe) would never walk away from an ebay merger in this climate.

But anyway, my gripe with that article was their perception that the management's stock options was the only concern here. Its a naive way to put it. Yeah management's stock options are a concern, because the future net worth of the company is their concern... whether they make their VC/board happy is a concern... I'm sure they would like to be employed in a year which is a concern, and maybe they don't want to be the laughing stock of the industry like when Silicon Graphics had a chance to sell a small part of their company to yahoo in exchange for part ownership - whoops!
L

PS hey do you still have that gold... how is that going for you (serious question)