Word: buyer
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Dates: during 2000-2009
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...penta-millionaires are alike. The split is generally by age--of the people and of their wealth. The World's typical buyer is just over 55, with a self-made fortune and three residences. With plenty of cash and plenty more expected, they see little need to conserve wealth. Today's new money increasingly covets exotic experiences more than fancy trappings, according to Iconoculture, a research company hired by J.P. Morgan to track wealth culture in 12 cities. Larry Samuel, a partner in Iconoculture, thinks the World taps perfectly into today's moneyed mentality: "If bragging rights are defined more...
...done so on the back of a few phenomenally simple ideas, all of which owe allegiance to capitalism in its most raw and ancient form. Anyone can be a buyer and anyone can be a seller. Price is determined by the number of buyers and how much they're willing to pay. Haggling is not only mandatory, it's automated. Sales have a deadline; everything must go. And most importantly the quality of the bazaar increases exponentially with its size. There are rival online auction services - Yahoo! and Amazon.com again - but eBay still has the lion's share...
...follow," says the entrepreneur, who was so enthused with the Yahoo! model that he originally named his company Sohoo! But most of China's Internet leaders are more pessimistic. The three big portals have limited options: merge, tie up with a Chinese conglomerate or sell out to a global buyer. Disgruntled shareholders may force the issue. At some point, argues Mao, "Shareholders will say, 'That's it, baby. The game is over. You leave. I'm leaving...
...easiest moment to make new investments. "We aren't in the business to be a white knight," says a senior Asia executive of a multinational Internet company. He says he is exploring options in China but is worried about offending officials who are likely to regard a foreign buyer with suspicion?even though such deals will be allowed once China gains entry into the World Trade Organization, which is expected later this year...
...business. He surfs to the archive of an online florist and peruses someone's recent order for roses, complete with a mushy love letter. But this man, a hacker who uses the online handle Eyestrain, isn't interested in the saccharine prose. He is focused instead on swiping the buyer's credit card details. "See? It's that simple," he says, as he cuts and pastes the number onto his desktop. Eyestrain, who doesn't want his real name revealed, says he paid for all of his computer equipment with pilfered numbers he lifted...