eBay vs PayPal - PayPal Goes Viral | 3
Business Wars
Audible
4.6 • 13.5K Ratings
🗓️ 31 July 2018
⏱️ 26 minutes
🧾️ Download transcript
Summary
In the midst of the dot-com boom, there's also a lot of dot-com bust. PayPal desperately needed to grow but they companies who'd raised millions more suddenly disintegrate. The solution was so simple it seemed almost illegal - let the converted proselytize. And they do to incredible results. It doesn't take long for eBay to notice but there's nothing they can do to stop PayPal's viral momentum.
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Transcript
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| 0:00.0 | Hey, prime members. You can listen to business wars at free on Amazon music. Download the app today |
| 0:07.4 | It's early 2000 in Minneapolis |
| 0:10.3 | Deborah pots putters around her home feeling agitated because there's so much clutter |
| 0:15.8 | She decides to get a head start on spring cleaning. She scans the living room and her eyes land on the old trombone |
| 0:22.8 | It's case still sports the name her son gave it back in middle school. Bessie |
| 0:28.6 | Deborah chuckles she thinks back on him tooting away at it upstairs after dinners |
| 0:34.7 | He hasn't played it in years and he's at college now. He won't even miss it |
| 0:40.3 | She sits at her computer and pulls up eBay. She's not a heavy user, but has been enjoying making a buck or two off some old |
| 0:47.0 | Chachkes and it's been fun to see this new strange digital community take shape |
| 0:52.3 | She lists it with an initial asking price of $60 modest she thinks |
| 0:58.2 | Over the next few days a couple of bids come in the price rises to $75 so far so good |
| 1:06.0 | But then Deborah gets a curious email from an unusual email address |
| 1:11.3 | charity robot at paypal.com |
| 1:15.1 | It's a bot writing to Debbie |
| 1:17.5 | It tells her that it's bidding on items for charity and would like to buy her item. This is new |
| 1:23.8 | If you're okay doing business with a computer instead of a human reply to this email. I will automatically place a bid |
| 1:31.3 | There's a catch though |
| 1:33.3 | Deborah has to accept payment through something called paypal |
| 1:37.2 | She's seen other users on the site mentioned paypal, but she doesn't know exactly what it is |
| 1:43.7 | Still sounds like a good deal. I mean if she signs up she gets $10 |
| 1:48.9 | It says she'll likely get a higher bid on Bessie and with paypal |
| 1:53.2 | She'll be paid right away and she won't have to worry about being swindled by some bad check |
... |
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