The Perfect Store: Inside eBay

Rating:
Summary: Amazing book. I could not put it down until I finished...
Review: This might be the best book I've ever read... not that no other books I've read weren't very good... but this book, in addition to being absolutely enthralling from Page 1, was incredibly inspiring to me too. I learned about Pierre Omidyar's start from AuctionWeb's modest beginnings in a bedroom of his townhouse... and seeing eBay where it is today, dominating the online market and worth over 20 billion dollars.

If you are interested in the internet, business, entrepreneurship, and/or the American Dream, then this book is for you.

Rating:
Summary: Surprisingly fascinating
Review: As a frequent user of eBay, I always wondered little things like how the site came to be and why is it called eBay... This book answers those questions. While reading this I was fascinated about how eBay has influenced so many things outside of the internet. The book details the humble beginnings of eBay by one person and his ideals. Along the way it shares stories about the sometimes quirky personalities that have helped make eBay the powerhouse that it is today. It also chronicles the whole dot com era and mentions other players such as Amazon and Yahoo. The book is surprisingly interesting. I don't usually read "business" books but this one I finished in 2 days. I would highly recommend this if you are interested in eBay, the internet, or the internet's influence on everyday life.

Rating:
Summary: eBay levels the field allowing free and open trade
Review: One of best books I've read this year. eBay levels the field allowing free and open trade. Cohen should be praised for his outstanding writing capability. You feel the energy of Pierre Omidyar success story as Cohen describes the breakthrough idea of a network of ordinary people collaborating to exchange goods, such that, supply and demand immediately adjusted to the correct price. 1994, Omidyar involvement with eShop made him an instanteous millionare before thirty. Omidyar viewed auctions as "interesting market mechanisms" which produced fair and correct prices. Omidyar said, "if there's more than one person intererested let them fight it out...the seller would by definition get the market price for the item, whatever that might be on a particular day." Omidyar brillance started as he concluded that "most people are honest". From this basic assumption Omidyar built a culture called eBaysian. eBaysian community was grassroot people, who had passions about specific material domains of knowledge and commodities. Message boards, mediators, and rating systems created an unique and safe culture within eBay convincing buyers and sellers to trade. Negative ratings would produce a strong inhibition to trade than a positive rating to encourage a buy. Omidyar vision of people seemed to be correct indicated by the low number of fraud cases. Cohen builds up the story of eBay going public with the selection of a financial officer, Whiteman as the new brilliant CEO, and the surprise that IPO stock prices who jump from $18 to $57 on the first day. Join the soul train as the eBayisians danced around the office. Culturally, it was unpolite to discuss options because upper management thought the fear of depression could strike should the eBay stock take a sudden drop. Skoll, Omidyar, and Whiteman would become billionares within years of the IPO deal. eBay was not without it trials: A few sensational cases occurred, such as, the 15k watch scandal; numerous tolerated crashs and a big crash which helped them realize reduntancy was need and personal changes required to build a fail safe system. Bulletin boards would facilitate the free exchange of ideas and some of the conversation would become heated. Message board regulators kept tempers from getting out of control. eBay would ban certain products: tobacco, alcohol, and guns.
Economics of selling on eBay would remain appealing. Inventory Procurement Services would realize 50 eBay profit margins selling leather jackets. Waites said, "They've always made clear to me that eBay is a level playing field. If I want unique things I don't even ask, because I know we're not going to get them." For example, Stahls promised the community of San Pedro La Laguna she would help stating, "I was watching people who were quitting their jobs to sell on eBay fulltime, I started thinking, if these people can do it, why can't the Mayan people in Guatemala who have all those great crafts do the same thing." Stahl cut out the middle man called the "coyotes", setup computers and laptops, techs to setup a wireless celluar hookup allowing satelite internet feed, and started the trading process. Stahl became half time eBay charity coordinator. The potential existed to create new homes, healthcare, nutrition, jobs, schools for the people of Bethel. eBay brought the Mayian community selling craftsmanships directly into the world economy. "To help the craftsman in the short-term,Whitman decided on the spot that the company holiday gifts that year would be Mayan belts with the eBay insignia, and placed an order for nearly three thousand." I would like one of those belts.

Rating:
Summary: Fun, informative and easy to read
Review: I really enjoyed this book. I learned a lot about start-ups from inception to the IPO. Some have claimed this was a PR piece for ebay - but it seemed like an even handed effort to me. I don't why a book has be a muckraker (sp) for some to enjoy it. A great read.

Rating:
Summary: The real deal
Review: I found the book extremely helpful in providing insights into what really makes eBay work. Community, feedback, trusted third-party, and a business that believes in the inherent good of its members.