Jun 22, 2018|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
It's our daily poll question had financial exchange showed does John. Vote your conscience and Aaron just vote. Go to financial exchange oh does come in castaway. Welcome back to the financial exchange Peter Powell and Michael Armstrong we have John Herrmann technology reporter for the New York Times. On the line John thanks for joining us. Fascinating piece wanna understand what ails the modern Internet look at eBay and I'll just read two sentences for our listeners. Perhaps more than any other tech chain of its era excluding Amazon. EBay has shaped the tech industry of 28 team eBay's influence can be felt in both trivial and fundamental ways in companies like FaceBook Google and Hoover. Fascinating hypothesis John tell us more about what you mean by that. That don't sort of at first because it out of you either forget about even now a days if not trying to buy your belt banker at a regular user out of that accompany the what is in the background the Internet but what and the bond. You know adopt it now. But it's the earth. One of the birth companies really liked perked back beat. Propped up of uniting the big different group of people buyers sellers. And have managed their relationship to work out. Like well cover well oiled system for basically running a modern and and we might not think of it but doable and it's. And Sue Bird Twitter as the bank kind of platform but the people record companies. Are drawing from what the that was by. The first pit bull. Oh. That it. In this whole concept of users reading other users saying truckers are great guy Peters a jerk don't do business with them. Is that something he BA in your view can really claim to have invented or were they relieved. The people who took that idea and in most successfully. Launched it and meted a model that now is you know the everywhere who ever and ever world. It certainly didn't invent that that method of dealing with with the use our minds with service on line but they're the most visible example pan the people who really after a bit at bill so you've got billions of people using it today. And they're using a rating system. You like make sure that the system worked there obviously registered there that are happy or to put it back at the seller. But more than that federal sort of in it together they're saying we need does not make you do work but that we I think the topic. But the we all other. And that has very bored in really obvious ways the company like hamburger I Gregory editor. There it is like the brunt of where. Red operated or or something like area would be but similar mechanism the idea of appointment users. On other other. How on each other or order. You know. Couple that write that. Elsewhere do bad at all or I'll I'll be like Woodard principal problem with the earth orbit. Great and his offense and indeed appoint the including your story. If 2017 more merchandise changed hands over the eBay platform than in any earlier years that shocked me is I pay. When a sign that this is about eBay I think of eBay is kind of a five years ago ten years ago. Company that you know more Amazon roadkill but. That's fascinating that bigger overall business continues to go up. Yeah you know that this visit. Again Europe uttered booted because there is that we you know murder occurred you may now with all the other out. But also even if change. It in in but always over the years and that. But kind of turned it in good they're a bite auctions are have been a popular every year or. That we suspected. Meanwhile Amazon has been relying very heavily on. Wonderful market but it Ballard people who who are actually selling through Amazon rather than. Well though it become a little bit or like Amazon over the years. Your options. More the right dollars. You know it it's become that displays the people picked up more or on our court ruled that. Though that that other matters is that only about. But it also. You know. It coincided with the at the but it euphemistically. A law that. And having PayPal as part of the operation. It's fascinating to see that PayPal. Feels like the the pipe from the won't die. Yeah outlawed here recently and now they're out there about any history of how you do it picked it up after aren't you about. And now. You know there are part of Weydedat. But. You know it it. That you really have committed an added that it would be much of the content area you can earth they. Were up it and not entirely. But you're but but more about how it is our legacy is very or all our Internet where that are out there. So we set aside miner earlier this week it's in the Sunday New York Times magazine. It one of the great pleasures of life is reading the Sunday New York Times. On a hammock on a Sunday afternoon John Herman thanks so much for this fascinating story will look for missing an imprint over burn it on line but. Great work and thank you for joining some financial exchange. There. Lot of connections I wouldn't of yeah drowned there knew where did the liberating them from them how they rate me is rider and everything I guess that was largely evasion.