Researched eBay's Problems......

[Anonymous]

READ FAST, THIS MAY NOT BE HERE LONG !

I learned a lot that explains most of what is going on at the site........

First off, eBay is dabbling in introducing AI to it's programming and algorithm. It is their hope that the systems will make decisions and changes on their own. It has been said that they may have lost control on the bit of AI they have introduced already.

Second, eBay is gearing themselves towards Millennials and Gen Z, and most likely will soon accept crypto- currencies as payment for goods. They are talking about Bitcoin for starters.

I learned that eBay is already accepting NFT's (Non-fungible Tokens), and has been for a while for those in the know. NFT's are controlled in the Ethereum block of crypto.

"Fungible" items are things that can be swapped item-for-item with the same value (like say a dollar bill).

"Non-Fungible" items each have a unique value and cannot be swapped item-for-item at the same value.

Of course, these NFT's are unique digital (non-tangible) units.

It's going to get much worse before it gets better, no one is expecting an uptick in the site until mid-late '23 or so. 

Good Luck ! 

[glasser]

Most AI currently in use is not very good. I am not sure where, or if ebay, has introduced any. I would assume ebay's first AI implementation would be in something like customer service. That's where many companies use. Unsuccessfully from my experience. Good search results don't require AI. They require good algorithms. Taking or not taking crypto, selling NFTs, or whatever fad eBay chases is not an existential threat to the platform, although will likely absorb resources that could be better spent.

From my persective, eBay's biggest error is the failure to innovate, eBay has become a platform that copies other people's success--think Stock-X for shoes and streetwear, chases fads--think trading cards, luxury bags, etc., and under invests in bringing new buyers to the platform.

eBay's succeeds when the platform grows organically not via intervention. If NFTs are a hot market, eBay sellers will conquer it. If trading card sales have long legs, eBay sellers will chase it to the end. eBay does not need to stimulate one category over another.

They need to focus on creating the most amazing and unique online buying experience, make the experience as efficient as possible for buyers and sellers, work on eliminating threats to the marketplace from fraud, and build marketplace trust to expand the sale of items to new categories and higher end items (in addition to all current items).

eBay's business model, and they were really the first site to prove the viability of this, is revenue by transaction. The more transactions the more revenue. It's a simple focus really but the lines seem all blurred now.

[tools*]

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@maxine*j wrote:

I do not know of a single large instituion or business, public or private,  that is not  using AI.  

The dream is always to eliminate people, who get disgruntled, cause problems, err, are easily distractred, need to eat and sleep, have private lives, expect to be paid enough to live on.  The promise of AI and robotics is that unlike the troublesome humans they replace, the machines will work quiety, tirelessly, with total focus, for cheap and forever.

Right now, AI is primitive and there are a low of screw-ups, as we see almost daily here.  But there's nothing nefarious going on.

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So AI is for people who hate people who want to make a lot of money so they can live more comfortably among the people they don't like.

[lvsigngraphics]

I believe there is shady **bleep** going on... they change policy, make it harder to get real support, tweak fees, etc.

[chapeau-noir]

<<From my persective, eBay's biggest error is the failure to innovate, eBay has become a platform that copies other people's success--think Stock-X for shoes and streetwear, chases fads--think trading cards, luxury bags, etc., and under invests in bringing new buyers to the platform.>>

I think that's what they actually consider to be 'innovation.'  

Honestly, I had no idea that 'reimagining the tech future' would be just buying up a lot of other platforms and bolting them onto eBay.  Somehow I had figured it would be to retool this platform to a streamlined efficiency.  Silly me.

[aqeeqsouq]

@Anonymous  @monroe67 

Actually Ebay CEO Jamie Iannone, in an interview, revealed that the platform could be looking at Bitcoin and Ethereum payments soon.

Also he mentioned something like "non-fungible tokens (NFTs) - Appeasing Gen-Z and Millennials....etc"

This is the article link:

https://finance.yahoo.com/news/ebay-could-soon-permit-bitcoin-223748215.html

And those are some youtube videos links:

https://www.youtube.com/watch?v=wjzP-to8Q-s

https://www.youtube.com/watch?v=KHlMrXsOTco

[rugerskick]

All that ai is only as good as the people who designed and implemented it.

Crappy and flawed ai design, crappy and flawed ai performance.

Their algorithm already flags innocent listings and sellers, it already makes incorrect decisions.

[dbfolks166mt]

     Any type of cryptocurrency NFT, Bit Coin.......  could prove to be interesting simply because there is really no way to track it. This should drive the IRS crazy. 

[gottasellemall69]

Ooo can I submit a product idea?
Digital NFT collectible pets!
Call them....
NFTeenie Babies.


--I'll be here all week.

[mam98031]

There is no reason for Ebay to make your post go POOF @Anonymous .  You aren't the first and you are unlikely to be the last to say similar things.

And of course Ebay is working to attract more Millennials and Gen Z buyers.  You'd be crazy not to.  You can't depend on the Baby boomers forever.  This is a good thing for Ebay to do.  We need to attract more buyers.  Younger buyers will typically be around for many years, so it is simply logical to try and get more of them to come to the site.

What is it that you are scared of exactly?

[mam98031]

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@Anonymous wrote:

I read it on the internet, so must be true, right ?!

Grain of salt.......we shall see.

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Nothing you said is new stuff.  So I'll say it for you right now.  You are right.  But it is no secret like you want to make it seem as if it is.

[chapeau-noir]

I'm not sure how close eBay wants to snuggle up to the crypto market right now - it's not exactly stellar.

[nocoolnamejane]

It’s opening up such a messy can of worms… Will eBay accept crypto but then pay the sellers in dollars?

What happens to returns with the volatility of crypto? Foreign buyers are already sometimes hit by major depreciation of their original payment when currency fluctuates, imagine what could happen with crypto… 

[mam98031]

I don't think it is anything we have to be concerned about in the near future.  The future of Crypto is up in the air too.

[laststopgeneralstore]

Who cares? Focus on what YOU can CONTROL. None of what you stated I can control so I could quite literally give an F less. Stop wasting so much time on garbage like that, that is completely out of your control. Focus on what is in your control and you'll get a lot further. With that being said, I had a record month last month & already on pace to do that again this month, I don't worry about all of the other garbage, just what goes on in my business.

[laststopgeneralstore]

Who cares? Focus on what YOU can CONTROL. None of what you stated I can control so I could quite literally give an F less. Stop wasting so much time on garbage like that, that is completely out of your control. Focus on what is in your control and you'll get a lot further. With that being said, I had a record month last month  and already on pace to do that again this month, I don't worry about all of the other garbage, just what goes on in my business.