Word: ebay
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Jeffrey Preston Bezos had that same experience when he first peered into the maze of connected computers called the World Wide Web and realized that the future of retailing was glowing back at him. It's not that nobody else noticed--eBay's Pierre Omidyar also knew he was on to something. But Bezos' vision of the online retailing universe was so complete, his Amazon.com site so elegant and appealing, that it became from Day One the point of reference for anyone who had anything to sell online. And that, it turns out, is everyone...
...venture captures these new infonomics better than eBay, the four-year-old auction site. The eBay miracle isn't that it allows you to clean out your attic at a profit--though that's not a bad invention--but that it changes the whole way that we set prices. On eBay, buyers get to decide what something is worth, so objects migrate closer to their true value. Recently a Maine antiques store put an old-fashioned calculator up for sale on eBay for $100. Within a few days the calculator-loving collectors of the Web had bid the price...
...agencies. Late-night comics have been roasting it mercilessly, while the Washington Post offered a Top 10 list of NASA excuses for the latest fiasco. (No. 10: Be patient. Mars Lander is trying to dial in on an AOL account.) Some cyberpranksters offered the Polar Lander for sale on eBay and got 16 bids...
...what all the hoopla is about. It's faster than my connection at work. My two phone lines, which were always tied up with modem traffic, are now always free. My daughters can connect to AOL without ever hearing a busy signal. And my wife can buy things on eBay fast, without having to wait through endless page reloads. So not all of it is good news. Still...
...EBAY O.K., so it's prone to outages. It has a few white elephants. It may not even be the best auction website. But this year, eBay became an economic phenomenon second only to the stock market. Every day, 250,000 new items are added and 1.5 million visitors make bids. Even the President praised the site and admitted trading on it. Is there anyone who hasn...