eBay Up Despite Carl Icahn Rift

eBay Up Despite Carl Icahn Rift

There are 2 comments on the TheStreet.com story from Mar 11, 2014, titled eBay Up Despite Carl Icahn Rift. In it, TheStreet.com reports that:

This time Icahn has Silicon Valley golden boy and eBay board member Marc Andreessen in his sights.

Join the discussion below, or Read more at TheStreet.com.

Since: Nov 13

Sydney, Australia

#1 Mar 11, 2014
Last time I looked it was retreating apace ...

Regardless, as long as Carl Icahn continues to dig his spurs deep into the narcissistic, sociopathic Johnny Ho’s person, for me, all is well in the world, but …

Notwithstanding that I am otherwise a vociferous critic of eBay, this time I have to agree with Johnny Ho that eBay should not let go of “PreyPal”. Without its existing integrated relationship with the eBay marketplace, the value of the clunky “PreyPal” would be reduced greatly (eBay actually generates ~30% of PayPal new users with no customer acquisition costs for PayPal and half of PayPal's profits come from transactions on eBay where “PreyPal” is well integrated and virtually mandated); and, worse still, without “PreyPal”, the value of the eBay marketplace would be reduced by some 40%(“PreyPal” currently contributes ~42% of eBay’s profits)…

I hate to admit it, but for once Johnny Ho has got it right; Carl Icahn undoubtedly is correct in many of his other criticisms of eBay but with respect to “PreyPal” he clearly has no understanding of the value of the inextricable and mutually supporting nature of the incestuous relationship between these two clunky, disingenuous, unscrupulous, commercial entities, and in particular, the precariousness of PayPal’s clunky business model …

And, notwithstanding the amount of disingenuous nonsense that constantly emanates from the eBay Dept of Spin,“PreyPal” is a clunky middleman, in the main riding precariously, at the pleasure of the retail banks, on the backs of those retail banks existing payments systems, and “PreyPal” has little more than one percent (~1.1%) of the world’s total payments business (and even then much of its payers’ funds are sourced via MasterCard/Visa); the “bankcards”, MasterCard and Visa, have ~90% of this market between them and Amex has another ~8%, and both MasterCard and Visa have recently launched their own professional mobile/plastic POS/online digital wallets. Undoubtedly, MasterCard's "MasterPass" and Visa's "V.me" offerings will ultimately bury most of these middlemen payments pretenders, particularly the clunky "PreyPal" ...

The reality is that the clunky PreyPal’s “best before” date is fast approaching; as a “stand-alone” operation that “best before” date would simply arrive even sooner …

“Never ever hire an MBA; they will ruin your company.”—PayPal founder, Peter Thiel

Regardless, none of the above can outweigh the fact that Johnny Ho is otherwise a talentless, destructive, narcissistic sociopath and that under his direction eBay Inc. is proceeding apace down the toilet and is ultimately going to finish up at the sewage farm …

The ugly reality of eBay Inc.:
eBay's crooked auctions marketplace ... http://bit.ly/11F2eas
eBay Motors (UK sampling): Auction Fraud Galore ... http://bit.ly/I2gTEU
eBay Motors XSS Redirect Scams in Action (video)... http://bit.ly/1d46NvE
eBay/Gumtree / Barclays Bank Motors Scams … http://bit.ly/1c9Uwck
eBay's clunky, unscrupulous "PreyPal" ... http://bit.ly/UVXx53
The ongoing joke of eBay Inc.... http://bit.ly/YvxFEg
Fun quotes from the eBay executive suite ... http://bit.ly/12xvzyA

eBay / PayPal / Donahoe: Dead Men Walking ...

Since: Nov 13

Sydney, Australia

#2 Mar 12, 2014
And, eBay has just announced an increase in its U.K. auction fees, in some categories, from 10% to 11%(not doubt, they’ll do the remaining categories a little later). Is this the only way eBay can now counteract the steady atrophying of its marketplace and try not to let their revenues be seen to be decreasing? I wonder how much further they will be able to increase their fees on their non-preferred sellers (undoubtedly, their preferred sellers won’t suffer these increases) before this house of cards finally implodes? Regardless, I don’t think that the smart money on Wall Street is fooled, eBay’s stock has already started retreating from its Icahn-interest-induced high of a couple of days ago …

And, yet another Icahn/eBay article in the NYT
With Icahn putting the spurs into the Ho turkey, Johnny is starting to get a lot more attention in the major media; I love the mostly negative reader comments; no doubt about it, Johnny Ho learnt well at Bain how to strip a commercial entity of its shareholders’ value—LOL

And the Ho turkey’s taking a 53% reduction in remuneration this year; a pink slip with his name on it would be more appropriate, a much better outcome for all concerned, particularly for eBay’s long-suffering “long” shareholders …

eBay / PayPal / Donahoe: Dead Men Walking ... http://bit.ly/11F2eas

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