8 Jul
2002
8 Jul
'02
6:29 a.m.
I just saw on the news that eBay is buying PayPal for US$1.5 billion.
Good for the folks at PayPal, but this does not bode well for PayPal
customers if eBay's history of trying to wring profits out of it's
customers in creative ways is any indication. It also does nothing for
competition.
This sucks.
Sellam Ismail Vintage Computer Festival
------------------------------------------------------------------------------
International Man of Intrigue and Danger http://www.vintage.org
* Old computing resources for business and academia at www.VintageTech.com *
8 Jul
8 Jul
6:41 a.m.
New subject: eBay to buy PayPal - yet another ruination of a good thing :(
...or sounds like an opportunity for an emerging new competitive business -
SellamPal. ;-)
Bruce Ray
----- Original Message -----
From: "Sellam Ismail" <foo(a)siconic.com>
To: "Classic Computers Mailing List" <cctalk(a)classiccmp.org>
Sent: Monday, July 08, 2002 9:29 AM
Subject: OT: eBay to buy PayPal - yet another ruination of a good thing :(
I just saw on the news that eBay is buying PayPal for US$1.5 billion.
Good for the folks at PayPal, but this does not bode well for PayPal
customers if eBay's history of trying to wring profits out of it's
customers in creative ways is any indication. It also does nothing for
competition.
This sucks.
Sellam Ismail Vintage Computer
Festival
--------------------------------------------------------------------------
----
International Man of Intrigue and Danger
http://www.vintage.org
* Old computing resources for business and academia at
www.VintageTech.com *
9 a.m.
New subject: OT: eBay to buy PayPal - yet another ruination of a good thing :(
I wondered how long it would be before this happened. eBay should have
bought them long ago. Didn't PayPal just go public a few months back? $1.5
billion is quite a sum. The people at PayPal should be very proud. I'm going
to go beat my head against the wall as I consider why I didn't buy stock in
eBay a few years ago.
--
Owen Robertson
on 7/8/02 10:29 AM, Sellam Ismail at foo(a)siconic.com wrote:
I just saw on the news that eBay is buying PayPal for US$1.5 billion.
Good for the folks at PayPal, but this does not bode well for PayPal
customers if eBay's history of trying to wring profits out of it's
customers in creative ways is any indication. It also does nothing for
competition.
This sucks.
Sellam Ismail Vintage Computer Festival
------------------------------------------------------------------------------
International Man of Intrigue and Danger http://www.vintage.org
* Old computing resources for business and academia at www.VintageTech.com *
9:35 a.m.
I wondered how long it would be before this happened.
eBay should have
bought them long ago. Didn't PayPal just go public a few months back? $1.5
billion is quite a sum. The people at PayPal should be very proud. I'm going
to go beat my head against the wall as I consider why I didn't buy stock in
eBay a few years ago.
--
Owen Robertson
For teh same reason you didnt buy stock in ebay today. Its a great concept,
but the stock is way overpriced. Consider a nice stock like ConAgra instead ;)
-Lawrence LeMay
2:59 p.m.
New subject: OT: eBay to buy PayPal - yet another ruination of a good thing :(
At 08:29 AM 7/8/02 -0700, you wrote:
I just saw on the news that eBay is buying PayPal for US$1.5 billion.
Good for the folks at PayPal, but this does not bode well for PayPal
customers if eBay's history of trying to wring profits out of it's
customers in creative ways is any indication. It also does nothing for
competition.
This sucks.
I'm not so sure that this sucks. Have you seen the number of complaints about
paypal lately?? Here is just a small sample <http://www.paypalwarning.com/>. My
only question is what makes PayPal worth $1.5B ???? Customers are leaving it in droves,
they've been ordered to stop doing business in at least one state, they have several
class action law suits pending and they're being investigated for operating as a
non-licensed bank in several states. Frankly I'd say they're worth nothing at the
moment.
FWIW I've heard that C2IT offers a much better service and the security of a real
bank.
Joe
5 p.m.
New subject: OT: eBay to buy PayPal - yet another ruination of a good thing :(
On Mon, 8 Jul 2002, Joe wrote:
I'm not so sure that this sucks. Have you seen
the number of
complaints about paypal lately?? Here is just a small sample
<http://www.paypalwarning.com/>. My only question is what makes PayPal
worth $1.5B ???? Customers are leaving it in droves, they've been ordered
to stop doing business in at least one state, they have several class
action law suits pending and they're being investigated for operating as
a non-licensed bank in several states. Frankly I'd say they're worth
nothing at the moment.
Everyone can come up with some reason to bitch. My biggest bitch about
PayPal is that, having a business account, I get something like 4% of the
amount eaten out of my payments received, but oh well, that's the cost of
using the service and I (reluctantly) accept them as it is a very good
service (in my opinion). I have read about the various legal actions
against them but just chalk that up to a fledgling industry trying to
establish itself. To me, PayPal represents the first online fiduciary
establishment that successfully bridged the divide between the online
world and the real world. Why, just today I used my PayPal Visa Check
card to pay for the shipping at the post office of an item I sold online
and received funds for through PayPal, drawing the funds directly from my
PayPal account. Pretty slick.
FWIW I've heard that C2IT offers a much better
service and the
security of a real bank.
Like eBay s the king of all auction sites, so too is PayPal the king of
all online payment franchises. I haven't heard of CC2IT, and will make an
effort to check them out, but I'm guessing it will be hard to knock down
PayPal, if it's possible at all.
If they are cheaper than PayPal and offer the same level of service and
features, I may give switching to them a lot of consideration.
Sellam Ismail Vintage Computer Festival
------------------------------------------------------------------------------
International Man of Intrigue and Danger http://www.vintage.org
* Old computing resources for business and academia at www.VintageTech.com *
6:34 p.m.
New subject: OT: eBay to buy PayPal - yet another ruination of a good thing:(
To me, PayPal represents the first online fiduciary
establishment that successfully bridged the divide between the
online world and the real world.
I can't help but think that PayPal is super meaty for some
hacker to get into, being that it's product is Money itself.
Superior security, or the lack of availability if it is probably
what held the name companies back long enough for
PayPal to get ahead.
John A.
8090
days inactive
8090
days old
6 comments
6 participants
participants (6)
-
allain＠panix.com -
bkr＠WildHareComputers.com -
foo＠siconic.com -
lemay＠cs.umn.edu -
rigdonj＠cfl.rr.com -
univac2＠earthlink.net