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

To: astyanax who wrote (2446)	4/1/1999 7:41:00 AM
From: astyanax	Read Replies (1) \| Respond to 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