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Benchmark Capital invested $5M for 21.5% stake in 1997"No one has any experience, because no one has ever done this before" — Meg Whitman to Sheryl Sandberg"People are basically good" — eBay founding value, confirmed across official sourcesProfitable in first month; 340K registered users by end of 1997
"Perfect market" — Adam Cohen's The Perfect Store (2002), describing Omidyar's stated founding vision"Price of inaction is far greater than the cost of a mistake" — Meg Whitman, Stanford GSB (2006)"People are basically good" — eBay founding value, confirmed across official sources
Startup Secrets Sandbox
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eBay's STORY
ABC Framework (Design Backwards)
Reference point: 1995-1998, early eBay
eBay's ABC
Element
Talent
Customer (Seller)
Investor
A — Act
Join a 30-person startup building something no one has done before; help scale a community, not just a company
List your first item on AuctionWeb; test whether strangers will buy what you have to sell
Invest $5M for 21.5% of a company already profitable in month one, with 340K users doubling every few months
B — Believe
Skills matter more than experience because "no one has ever done this before"; culture of trust ("people are basically good") will attract the right people
A simple listing can reach collectors worldwide; the feedback system makes strangers trustworthy; you keep control of your inventory and pricing
Person-to-person commerce online is a massive untapped market; trust can be engineered through community; asset-light model means profitability is possible from day one
C — Care
Be part of something unprecedented; help millions of people connect through commerce; your work directly shapes how the internet economy evolves
Turn your garage, hobby, or expertise into income; reach buyers you could never find locally; build something on your own terms
First-mover advantage in a market with powerful network effects; demand is proven (not projected); this could redefine how goods are bought and sold globally
There are no rows in this table
Notes:
STORY Framework (Deliver Forwards)
eBay's STORY
Element
Talent
Customer (Seller)
Investor
S — Stage
1998: eBay has 30 employees, millions of passionate users, and a culture built on trust; Meg Whitman seeks talent who can scale a movement
You have items collecting dust, skills to share, or products to sell; traditional retail requires massive overhead and reach you don't have
1995: Internet commerce nascent; classified ads and auctions remain fragmented, inefficient, geographically limited
T — Tension
Rapid growth outpaces hiring; "price of inaction is far greater than cost of a mistake"; company needs people who can handle bigger jobs than exist today
Starting a business is risky; reaching global buyers seems impossible for individuals; 64% of sellers say selling has become easier only recently
Physical auctions limit participation; buyers can't touch items online; trust between strangers is the fundamental barrier to e-commerce
R — Resolution
Culture allows mistakes if you fix them fast; Whitman hires "ahead of the curve" for skills, not experience; community-first values attract mission-driven talent
eBay provides global reach with low barriers; feedback system builds trust; 90% of sellers say "eBay wins when sellers win"; no competing house brands
Feedback and rating system solves trust; fees only on completed transactions; profitable immediately; 340K users to 2.1M in one year (1997-1998)
O — Opportunity
Omidyar's vision: use internet to create "perfect market" where people connect directly; unprecedented chance to shape how commerce works
Turn passion into profession: 60%+ are "accidental entrepreneurs"; eBay makes it easy; unique inventory finds unique buyers globally
Pierre Omidyar saw that human connection, not just transactions, drives engagement; first-mover in peer-to-peer marketplace creates lasting network effects
Y — Yes
Join a company where your skills matter more than your resume; be part of empowering millions; grow as fast as the platform grows
List your first item today; join 20M sellers reaching 132M active buyers; financial independence awaits
Own a stake in the marketplace flywheel: more sellers attract more buyers attract more sellers; asset-light, cash-generating, globally scalable
There are no rows in this table
Notes:
Key quotes:
Your turn. What would you say a Buyer on eBay would like to hear as a compelling story?
Not sure? Review and reflect on your answer.
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