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Originally Posted by Tipsy
There are still plenty of ebay 'alternatives' out there and until/unless someone has HUGE funding and is happy to take a loss for a long while they will remain no threat - the same with any auction startups. You're friend is onto a loser before he starts.
Ebay is so big because it has so many sellers. It has so many sellers because it has so many buyers. It has so many buyers because.... etc. Sort of a reverse catch-22. Very, very few companies would have the expertise and funding to compete against that and drag any significant % of users away. Try finding stuff on any other auction site out there - it's usually a huge waste of time.
A shame because as with Paypal (same company I know) and Google they've become far too big, lazy, greedy and complacent but have such a huge market hold that toppling them will be very, very hard and won't happen anytime soon.
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Your logic is flawed. Without going into too many details about his plans (they are my plans, too -- I hate eBay as much as he does and I do plan on being a partner in the venture) lets just say that our funding is nothing substantial and the number of sellers and buyers on the site dont have as much to do with it as everyone likes to think. We have a plan to work around this.
In order to have buyers, you must first have sellers. If you have sellers, buyers will come on thier own as long as they know the place exists. Buyers are informed in many ways.
K-Mart was big once too. Then this little store called Wal-Mart came along. Now Wal-Mart is big, and they too will go the way of K-Mart when someone else comes along and reinvents the mousetrap.