Online Seller Quotes

When you leave your old neighborhood for your land, the city streets and businesses will almost instantly fade from your mind. The chirping of birds will replace the yelling of people.

Last year, for example, Etsy acquired Grand St., an online seller of new electronics products. The Grommet, which is majority owned by Japanese e-commerce giant Rakuten, is another site dedicated to introducing shoppers to the latest inventions from small shops or individuals. Amazon has

The way PayPal started was that it was a security and risk company that stumbled onto payments, which were really in need of development as the Internet was starting to grow. It was to find safe ways of facilitating payments between people who were buyers and sellers who couldn’t interact in person or were interacting online. What you had at the time, as the Internet boom started, was all these businesses that were forming and selling online, and they didn’t have any physical assets—they only had digital assets. If you had a small business that had just started a website, looking to sell something on eBay, for example, and you went to the bank and said, “Could you underwrite me, and allow me to accept electronic payments?,” there was simply no way that these financial institutions

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PayPal’s big challenge was to get new customers. They tried advertising. It was too expensive. They tried BD [business development] deals with big banks. Bureaucratic hilarity ensued. … the PayPal team reached an important conclusion: BD didn’t work. They needed organic, viral growth. They needed to give people money. So that’s what they did. New customers got $10 for signing up, and existing ones got $10 for referrals. Growth went exponential, and PayPal wound up paying $20 for each new customer. It felt like things were working and not working at the same time; 7 to 10 percent daily growth and 100 million users was good. No revenues and an exponentially growing cost structure were not. Things felt a little unstable. PayPal needed buzz so it could raise more capital and continue on. (Ultimately, this worked out. That does not mean it’s the best way to run a company. Indeed, it probably isn’t.)2 Thiel’s account captures both the desperation of those early days and the almost random experimentation the company resorted to in an effort to get PayPal off the ground. But in the end, the strategy worked. PayPal dramatically increased its base of consumers by incentivizing new sign-ups. Most important, the PayPal team realized that getting users to sign up wasn’t enough; they needed them to try the payment service, recognize its value to them, and become regular users. In other words, user commitment was more important than user acquisition. So PayPal designed the incentives to tip new customers into the ranks of active users. Not only did the incentive payments make joining PayPal feel riskless and attractive, they also virtually guaranteed that new users would start participating in transactions—if only to spend the $10 they’d been gifted in their accounts. PayPal’s explosive growth triggered a number of positive feedback loops. Once users experienced the convenience of PayPal, they often insisted on paying by this method when shopping online, thereby encouraging sellers to sign up. New users spread the word further, recommending PayPal to their friends. Sellers, in turn, began displaying PayPal logos on their product pages to inform buyers that they were prepared to honor this method of online payment. The sight of those logos informed more buyers of PayPal’s existence and encouraged them to sign up. PayPal also introduced a referral fee for sellers, incentivizing them to bring in still more sellers and buyers. Through these feedback loops, the PayPal network went to work on its own behalf—it served the needs of users (buyers and sellers) while spurring its own growth.

The idea that the web is empowering is just a bunch of rattling, chattering talk. Everything you consume online has been “optimized” to make you dependent on it. Content is engineered to be clicked, glanced at, or found-like a trap designed to bait, distract, and capture you.

Some short sellers, feeling the pressure, will begin to gang up together to attack a company—through the media, online investor forums, and, increasingly, on Twitter—all as part of an effort to change the narrative of a company, to highlight the negatives around its business or reveal a failing that normal investors may not recognize. Essentially, they’re trying to scare investors and drive a targeted stock price down.

the need to build B2B Ordering System buyer seller marketplace and online product directory became coming in vogue

When eBay entered the Chinese market in 2002, they did so by buying the leading Chinese online auction site—not Alibaba but an eBay impersonator called EachNet. The marriage created the ultimate power couple: the top global e-commerce site and China’s number one knockoff. eBay proceeded to strip away the Chinese company’s user interface, rebuilding the site in eBay’s global product image. Company leadership brought in international managers for the new China operations, who directed all traffic through eBay’s servers back in the United States. But the new user interface didn’t match Chinese web-surfing habits, the new leadership didn’t understand Chinese domestic markets, and the trans-Pacific routing of traffic slowed page-loading times. At one point an earthquake under the Pacific Ocean severed key cables and knocked the site offline for a few days. Meanwhile, Alibaba founder Jack Ma was busy copying eBay’s core functions and adapting the business model to Chinese realities. He began by creating an auction-style platform, Taobao, to directly compete with eBay’s core business. From there, Ma’s team continually tweaked Taobao’s functions and tacked on features to meet unique Chinese needs. His strongest localization plays were in payment and revenue models. To overcome a deficit of user trust in online purchases, Ma created Alipay, a payment tool that would hold money from purchases in escrow until the buyer confirmed the receipt of goods. Taobao also added instant messaging functions to allow buyers and sellers to communicate on the platform in real time. These business innovations helped Taobao claw away market share from eBay, whose global product mentality and deep centralization of decision-making power in Silicon Valley made it slow to react and add features. But Ma’s greatest weapon was his deployment of a “freemium” revenue model, the practice of keeping basic functions free while charging for premium services. At the time, eBay charged sellers a fee just to list their products, another fee when the products were sold, and a final fee if eBay-owned PayPal was used for payment. Conventional wisdom held that auction sites or e-commerce marketplace sites needed to do this in order to guarantee steady revenue streams.

Max Levchin’s Plan A was not to be. Demand for security on handheld devices never materialized. He remained a vagabond. But he was cooking another idea. Max pursued a Plan B that centered on cryptography software. “It’s really cool, it’s mathematically complex, it’s very secure,” said Levchin.7 But once again, no one really needed it. Plans C, D, and E didn’t work out any better. Levchin’s Plan F, still based on his cryptography expertise, was a system for securely transferring cash from one PalmPilot to another. As part of that effort, Levchin’s team built a Web-based demo version that did everything on a Web site that the PalmPilot version could do. By early 2000, people were using the Web version for actual transactions, and the growth of the Web demo was more impressive than for the handheld version. “Inexplicable,” recalled Levchin. “The handheld one was cool and the Web site was … unsexy … a demo. Then all these people from a site called eBay were contacting us and saying, ‘can I put your logo in my auction?’ We told them ‘No. Don’t do it.’ Eventually, we realized that these guys were begging to be our users. We had the moment of epiphany. For the next twelve months, we just iterated like crazy on the Web site version.”8 Levchin finally had a tool that filled a void, allowing ravenous eBay traders to safely transfer cash from buyer to seller. Plan G—a little outfit called PayPal—was born. And did it strike gold. PayPal is the now dominant system of paying securely for online purchases. Eventually, eBay, whose internally run payment system was floundering, bought PayPal for $1.5 billion.

Sellers who are successful today know that customers can go online and find out all that stuff in seconds.

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In 1994, former Guns N Roses bassist, Duff McKagan, decided to invest $100,000 in local Seattle companies, including an expanding chain of coffee shops, a software company and an online book seller; Starbucks, Microsoft and Amazon.

eBay: Because eBay tracks feedback and allows both buyers and sellers to rate one another, it is a good idea to buy a few things on-line before you try to sell something so that you can validate your good name. Buy cheap things; pay promptly. Request feedback if none is provided automatically. Give the seller feedback. Then, sell your least valuable things first and work up to something like a car where feedback would be key.

The words looped in my head. Download it for free. Cheerful, triumphant. Download it for free! What a freaking bargain. “I’m sorry,” I said. “She found what?” "That website. Meems, what was the name again? Bongo or something?” Mimi looked up from her iPad. “What are you talking about?” “That website where you found Sarah’s book.” "Oh,” she said. “Bingo. Haven’t you heard of it? It’s like an online library. You can download almost anything for free. It’s amazing.” My hands were shaking. I set down Jen’s phone, and then I set down the wineglass next to it. Without a coaster. "You mean a pirate site,” I said. “Oh God, no! I would never. It’s an online library.” "That’s what they call it. But they’re just stealing. They’re fencing stolen goods. Easy to do with electronic copies.” "No. That’s not true.” Mimi’s voice rose a little. Sharpened a little. “Libraries lend out e-books.” “Real libraries do. They buy them from the publisher. Sites like Bingo just upload unauthorized copies to sell advertising or put cookies on your phone or whatever else. They’re pirates.” There was a small, shrill silence. I lifted my wineglass and took a long drink, even though my fingers were trembling so badly, I knew everyone could see the vibration. "Well,” said Mimi. “It’s not like it matters. I mean, the book’s been out for years and everything, it’s like public domain.” I put down the wineglass and picked up my tote bag. “So I don’t have time to lecture you about copyright law or anything. Basically, if publishers don’t get paid, authors don’t get paid. That’s kind of how it works.” "Oh, come on,” said Mimi. “You got paid for this book.” "Not as much as you think. Definitely not as much as your husband gets paid to short derivatives or whatever he does that buys all this stuff.” I waved my hand at the walls. “And you know, fine, maybe it’s not the big sellers who suffer. It’s the midlist authors, the great names you never hear of, where every sale counts … What am I saying? You don’t care. None of you actually cares. Sitting here in your palaces in the sky. You never had to earn a penny of your own. Why the hell should you care about royalties?” I climbed out of my silver chair and hoisted my tote bag over my shoulder. “It’s about a dollar a book, by the way. Paid out every six months. So I walked all the way over here, gave up an evening of my life, and even if every single one of you had actually bought a legitimate copy, I would have earned about a dozen bucks for my trouble. Twelve dollars and a glass of cheap wine. I’ll see myself out.

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the key to increasing sales isn’t to focus too intensely on the customer or end user, it’s to focus on the algorithm.

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Donald Vaccaro has guided TicketNetwork is an online marketplace that provides an outlet for buyers and sellers of tickets to live entertainment events.