Patrick Byrne, founder and CEO of Overstock.com, explains the origin of Overstock's partner marketplace model and its launch prior to Amazon's.
Opinion
Patrick Byrne claims the SEC is a captured regulator for Wall Street
“The SEC is what economists call a captured regulator. You know, society sets up regulators to protect us from certain industries, but it's a standard feature of regulations, since the first regulator, the Interstate Commerce Commission, that they become captur…”
Opinion
Patrick Byrne believes the crypto revolution is bigger than the internet
“I think the crypto revolution is even bigger than the internet.”
Prediction Not checkable as stated
Crypto will disrupt traditional political institutions and government functions
“The crypto revolution is going to disrupt all kinds of political institutions that, that you really, we just have to wake up and remember They didn't come out of the burning bush.”
Prediction Didn’t hold up
Patrick Byrne predicts a 2008-level economic crisis within two to three years
“I also think there's going to be quite soon a big, in the next two or three years, a big disruption in our economy. I think in oh eight or worse is going to happen, and with each disruption, people will shift farther into online, and then it ratchets.”
Assertion Not checkable as stated
Byrne: Overstock is 10% cheaper on average than Amazon
“In many ways, we're like Amazon, except I like to say about 10% cheaper on average, and with better customer service, as several industry groups have certified.”
Assertion Not checkable as stated
Overstock ran a $500M+ business with just 13 developers in 2005
“We actually didn't have the skill sets back in Oh five Oh six. We had 13 developers. We were a five, six hundred million dollar company with 13 developers.”