eBay

“Cause you know, if you look at the history of PayPal, you know, they were pretty crappy business for a very, very long time until eBay bought them.”

“Yahoo stores first and foremost is like a search engine. EBay first and foremost is an auctions marketplace. They were both doing stores, but neither of them had the vision to become platform for commerce.”

“And the third one was eBay. That was at the time a very light model in terms of just connecting with a software platform, buyers and sellers, and somehow we realized that the trading thing was something quite natural for Latin Americans, and that that would wo…”

“Then probably they faced the typical innovator's dilemma, and because of the initial success that they had, They didn't kind of innovate in the business and Amazon did innovate a lot and ended up creating a much larger company.”

“Because in a period of time, it was the only profitable internet company, even more profitable than the Amazons and the Yahoo's of the world.”

“The other thing that was going on at the time was that, you know, I think it was Google PayPal and eBay. We're all talking about their vulnerability reward programs, which was what we called a bug bounty program back in like, 2012, right?”

“Network effects, like your supply-to-man ratios, like all of these different things, there is an element of land grab. That's just inherent to building a marketplace company. But I always saw that as being fairly fragile as the only thing to rely on because ul…”