Paypal fined $150,000

[francis]

This is related to James B's Ebay presentation last week. Paypal have been fined $150,000 (http://www.cnn.com/2004/TECH/03/08/paypal.fined.ap/index.html) after misrepresenting to consumers its policy on repayment when merchandise doesn't arrive.

[Tom]

Stupid of them. They should have read Ester Dyson re the central importance of online trust. Its hard to build and easy to destroy.

I was going to remark that PayPal have almost as good a business model as Ebay: having built the technology it only remains for them to sit back and enjoy the GOD of the web (=Greatest Online Delight =watchng the dollars roll in).