|
Title: EBay Cutting 325 Jobs in PayPal Division Restructuring Plan Post by: sunnankar on October 29, 2012, 05:55:09 PM From Bloomberg (http://www.bloomberg.com/news/2012-10-29/ebay-cutting-325-jobs-in-paypal-division-restructuring-plan.html):
Quote The company is also ending work arrangements with about 120 contractors worldwide, San Jose, California-based EBay said today in a statement. PayPal President David Marcus, who took over in April, is leading an overhaul to streamline a business marked by inefficiencies such as excessive meetings and months-long project approvals. He started the makeover in June by consolidating nine product groups into one. Bet Ebay wishes they had a huge decentralized network of creative entrepreneurs and developers, probably a lot more than 425 like Paypal is cutting, willing to work for free and bear the financial risk with the services they develop to spread the payment system instead of getting big fat paychecks while they sit around pontificating in meetings and not shipping any new products. Wonder if the monopolist Paypal is starting to feel the heat from its new competitor. They should! From 18 JUL 2012 article at Venture Beat (http://venturebeat.com/2012/07/18/ebay-earnings-call-meets-high-expectations-largely-thanks-to-paypal/): Quote PayPal was a major driver of this performance, reporting that its revenue increased 26% year over year to around $1.4 billion and 113.2 million active accounts. That’s nearly 42 percent of eBay’s overall revenue. There's gold, and LOTS of it, in them there Bitcoin hills! For perspective or comparison: with about 700k active Bitcoin users that puts a multiple of about 160x to be Paypal's size. 160x$10.5=$1,680/BTC or a money supply of about $17.64B. Ebay's market cap is $64B and Paypal makes up about 25% of earnings and 25% of $64B is $16B. Go Bitcoin entrepreneurs, GO! Title: Re: EBay Cutting 325 Jobs in PayPal Division Restructuring Plan Post by: marcus_of_augustus on October 30, 2012, 04:13:03 AM 120 potential more bitcoin converts ... some of those ex-Paypal contractors will be good financial IT assets ... bitcoin is an equal opportunity 'employer'.
Welcome aboard. Title: Re: EBay Cutting 325 Jobs in PayPal Division Restructuring Plan Post by: sunnankar on October 30, 2012, 04:14:42 AM 120 potential more bitcoin converts ... some of those ex-Paypal contractors will be good financial IT assets ... bitcoin is an equal opportunity 'employer'. And that is the really big problem with Bitcoin. Bitcoin IS profitable! Title: Re: EBay Cutting 325 Jobs in PayPal Division Restructuring Plan Post by: allthingsluxury on November 04, 2012, 03:30:03 PM Hopefully they won't be able to harass as many small businesses now with petty nonsense. Somehow I doubt this although :(
|