Eugene David
...The One-Minute Pundit

Thursday, March 13, 2003


For some time -- and I've been shopping there for about two years -- I've felt eBay was full of itself and has deserved a big comedown. With luck it could be the Mickey D's of the Web. It already is in a way: it's The Company You Love to Hate. And the stock never declines; it's selling at a twelve-month high now and its PE is 96. Evidently Meg (pronounced "mug") Whitman thinks this is still the spring of 2000. The Forbes writer uses the word "hubris." I wouldn't want to bet against eBay; as with Mickey-Mouse Michael (under whom Meg-Pronounced-Mug once labored), too many good things have happened to these bad people. But we can hope.

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