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Technology Stocks : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: Doug Fowler who wrote (2210)	3/12/1999 7:15:00 PM
From: Brian K Crawford	Respond to of 7772

Doug, thanks for the opinion on eBay's business prospects, the data on active auctions, and the user testimonial. Regular users of eBay seem to be the most positive about the stock. They have tried the competition and have seen the difference being the leader can make. Reminiscent of AOL back in the "bad old days" when the conventional wisdom was that the net would swarm over them and devour their client base like so many locusts. Many AOL users knew better. Thanks again, Brian

To: Doug Fowler who wrote (2210)	3/12/1999 7:16:00 PM
From: Kailash	Read Replies (2) \| Respond to of 7772

"I believe eBay has the opportunity to become the most successful company on Earth" This is the kind of stuff you put on your tombstone: "He believed eBay had the opportunity to become the most successful company on Earth. May God keep his soul." <g> But seriously Doug, why don't you do us a favor and show us how - in the future - eBay will be making enough money to justify the current market cap (and more, since you think this is a buying oppt). You know, estimate earnings each year for the next five or ten years - or however long you believe it's going to need to justify buying it today. Set a reasonable P/E for the final year of your table. Spell out the argument you're making in earnings. Otherwise we're going to think you've just gone off your rocker! Kailash

To: Doug Fowler who wrote (2210)	3/12/1999 9:11:00 PM
From: Tom Hua	Read Replies (2) \| Respond to of 7772

Doug, ebay's business model and its operations will have to undergo major changes, not because the company wants to, but it'll be forced to. What I'm alluding to is the ongoing FBI investigations of illegal transactions made through ebay. The FBI is currently investigating reported cases of marijuana, and other illegal substances. I personally know there're many many other illegal activities going on at ebay which include the sale of sex with teenage Thai girls ($50), sale of stolen police badges, marijuana, pirated software etc. Although ebay is not directly breaking the law, it's considered an accomplice for facilitating these illegal activities. A liquor store can lose its license for selling to minors, I wouldn't be surprised if Ebay is shut down by the goverment following the conclusion of this investigation which may be expanded to address concerns about teenage prostitution. Sooner or later, Ebay will have to monitor every single item. The effects will be higher operating costs, lower margins, and yes fewer customers as well. Regards, Tom