eBay once again disappointed wall street after Q2 earnings fizzled. Imagine how bad #EBAY earnings would be if they were not profiting from buyer fraud? 🙄
I remember back in the beginning when trust and strong community values made eBay a vibrant successful community. I remember selling quality rust free southern used cars to other powersellers. That’s how eBay worked so well in it’s early days.
These days eBay trust and community values are long gone disappointing wall street!
In the mid 2000’s eBay trust started fading. Scammers were literally picking trusted eBay buyers to the bone. eBay mostly denied there was fraud or claimed what fraud their venue had was minuscule.
The hugely successful 1st Internet marketplace started its fall from grace. Corporate execs tried to reinvent eBay but over the years it just got worse. Then CEO John Donahoe hated eBay’s flea-market image and set out to disrupt his highly successful marketplace.
Donahoe then decided to take on Amazon which was huge mistake. eBay was built on trust and community values. Donahoe tossed that out the window. He modified eBay’s rating system (feedback) to brown nose buyers and impress wall street. Then he suspended millions of his best mom-and-pop sellers. Totally loused up the sites internal search. Donahoe hid his sellers descriptions from search engines in iFrame sets to further manipulate his disruptive search.
eBay’s present CEO Devin Wenig isn’t any better than John Danahoe. eBay still is failing to compete with Amazon who just keeps growing. Today it was announced Amazon CEO Jeff Bezos was the richest person in the USA. Wow Jeff Bezos Net Worth is $140.90 billion USD. Meanwhile eBay execs are thinking ways to profit from there sellers.
So here we are beginning eBay Q3 and many are concerned about what this quarter will reveal. Buyer Fraud is a serious problem right now on eBay. Their community forums are jammed full of sellers complaints about being defrauded by eBay.
Imagine how much worse their earnings would be if they didn’t partner with buyers giving sellers merchandise away. If a seller gets an INR or SNAD eBay keeps the FVF. Anything for a buck – eh eBay! 😡
Below is suggested reading material on this subject. It’s easy to spot eBay’s undisclosed paid forum shills-trolls in the conversations.