Please John, go to Intel
A 29% reduction in revenue …
The real question is, does "Noise" Donahoe actually believe all that nonsense that he has just vomited all over us? If he does, then eBay is in even deeper poo than anyone could have possibly imagined.
I can see John sitting there, the odor of his anxiety choking everybody else in the room. But he is still in control of the ship (Captain Queeg-like), so we will all have to do what he says and stay awake, anxiously awaiting tomorrow’s Amazon results. I can hear the praying from over here in Australia: "Oh, please God, let not Amazon have another increase in revenues or profits lest we be again be exposed as the incompetents that we indeed are, and the stockholders will not be unhappier still."
Donahoe and some market analysts seem to believe that PayPal’s manning of the pumps will keep the good ship “eBay” afloat. I certainly would not put my money on the “clunky” PayPal for the long term. Assuming that the parties don’t already have some agreement to not compete, I have no doubt that eventually those other well known “loan sharks”, the major credit card companies, will get off their butts and introduce a similar universal card/terminal-less on-line payments system that the participating banks can incorporate into their internet banking systems—and they, at least, will do it properly—and that, my friends, will undoubtedly be the end of PayPal outside of the Donahoe-dwarfed eBay marketplace ...
I won’t get going on PayPal any further other than to recall that Donahoe has been quoted somewhere as saying that the door is slightly ajar for a potential spinoff of his company’s online payments unit. If this is correct it will be the first logical thought that this guy has ever had; he otherwise clearly has no idea of what he is doing at eBay. If that MBA taught him anything then he should be using all his skills to negotiate with the banks to take PayPal and integrate it into their online payments system—in exchange for an appropriate interest in the consolidated business, of course. Because, the more successful PayPal is, the more likely it is that the banks will finally get off their butts and introduce a like system; if and when that happens the banks will do it properly and will exterminate PayPal for being the irritating “insect” that it is.