At 08:29 AM 7/8/02 -0700, you wrote:
>
>I just saw on the news that eBay is buying PayPal for US$1.5 billion.
>Good for the folks at PayPal, but this does not bode well for PayPal
>customers if eBay's history of trying to wring profits out of it's
>customers in creative ways is any indication. It also does nothing for
>competition.
>
>This sucks.
I'm not so sure that this sucks. Have you seen the number of complaints about paypal lately?? Here is just a small sample <
http://www.paypalwarning.com/>. My only question is what makes PayPal worth $1.5B ???? Customers are leaving it in droves, they've been ordered to stop doing business in at least one state, they have several class action law suits pending and they're being investigated for operating as a non-licensed bank in several states. Frankly I'd say they're worth nothing at the moment.
FWIW I've heard that C2IT offers a much better service and the security of a real bank.
Joe
Received on Mon Jul 08 2002 - 18:59:01 BST