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

To: Stewart Elliot who wrote (2808)	4/24/1999 4:35:00 PM
From: JF2155	Read Replies (1) \| Respond to of 7772

Stewart--I'm one of the biggest EBAY fans out there but as a stock I too know its way overvalued. This market is very easy to understand ( take your brain out of your head and put it in a jar ) just run with the hot sectors. UBID went up 35% on earnings Friday and UBID is a joke of a auction site. What do you think EBAY will go up knowing EBAY is in a class all by itself ? JIM

To: Stewart Elliot who wrote (2808)	4/25/1999 12:07:00 AM
From: Jing Qian	Read Replies (1) \| Respond to of 7772

Some day, there will be another site that offers the same level of seller and buyer demand as EBAY. Then there will be another. It's merely a matter of time - maybe it will take a few years. I heard this comment from people so many times, maybe 100 times. The flaw of this logic is that you fail to understand the law of critical mass of a market, especially the big swap meet type market eBay is hosting. The success of this community type market is that the critical mass is a deciding factor. When the market gets to be big enough that everything sells easily, most sellers and most buyers will still come back to this market, simply because sellers know their products are easier to be sold and the buyers know that they can get the most choices. Yahoo's eyeballs are bigger than EBAY's but why do you think Yahoo is a far cry from eBay on auction count? Because Yahoo is too late to enter the game and its site can never catch that of eBay's. Early entry(first-mover) into the market has sealed eBay's luck as the only big winner of the auction market because it single handedly created the market. You said Internet is a hype. No, you are wrong. Internet is not a simply a technological advances, it's a behavioral changer of the capitalist systems. Internet will completely change the old business-to-customer model of the last 500 years, bringing human behavior back to the ancient times when each Individual can trade with one another freely. Internet is going to fundamentally democratize the commerce thus cause the society to be changed for good.