All hail eBay
Some friends came over recently and remarked at the excessiveness of the three bicycles in my apartment. I had to agree with them, but I realized that all three were purchased on eBay. First, the mountain bike five years ago in SF; next, the racing bike for the triathlons over the past two summers; and most recently, the commuter bike for getting around NYC. I've posted a photo of these three bikes below. My takeaway from this exchange, however, is that I'm still enamored with eBay. It empowers individuals to create their own free markets and as a result, is still the most powerful business model on the internet!! While I'm not in the business of making stock recommendations, eBay has been sagging. In The Long Tail by Chris Anderson, he reports that 700,000 individuals currently list eBay as either their primary or secondary source of income. With less than 20% of the world population on the internet today, that means beaucoup de growth opportunity in eBay's future.