Word: netting
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Dates: during 1990-1999
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After creating one of the Net's top brands, a company with a market value of some $20 billion, Pierre Omidyar hit the delete key. Months before eBay's IPO--the traditional media coronation for a Silicon Valley wunderkind--he stepped aside in favor of onetime Hasbro exec Meg Whitman. "I've obviously tried to push her to the forefront," he says. "Meg's the public face of the company." Omidyar moved to France in part to get in touch with his roots--he was born in Paris and lived there until he was six. But he's also working...
Omidyar had a typical programmer's view of the Net. He saw it as a freewheeling, authority-defying medium, and he was proud of his fledgling site's noncorporate orientation. "The first commercial efforts were from larger companies that were saying, 'Gee, we can use the Internet to sell stuff to people,'" he says. "Clearly, if you're coming from a democratic, libertarian point of view, having corporations just cram more products down people's throats doesn't seem like a lot of fun. I really wanted to give the individual the power to be a producer as well." eBay...
...that he's one of the richest human beings on the planet. And clearly he's uncomfortable with his wealth. "What one person needs, and what one family needs and all of their future generations need is a tiny, tiny fraction of this total number," he says of his net worth. "That means we have an awesome responsibility to see that the wealth is put to good use." In addition to eBay's foundation, Omidyar and his wife are developing one of their own. He says he wants it to advance the same values as eBay: "Empowering people and helping...
...evidence suggests that eBay represents a return to that earlier one-on-one sociability--and maybe even improves on it, since the Net collapses the traditional divisions of geography and class. Wherever you plant your modem, the fabled new economy arrives--even in the boonies, as Patricia Hoyt calls her hometown of Baker, Mont., roughly 225 miles from the nearest big city, Billings. The old economy of oil and cattle has not been kind to Baker, and when oil prices dropped, business dried up at the motel Hoyt and her husband...
...plans to do to eToys what it did to CDnow in the online music business--knock it out of the top spot. Attacking from the street as well as from cyberspace are the classic "bricks-and-mortar" retailers Toys "R" Us and KB Toys, which were written off as Net players after the last holiday season but this year have developed online offshoots...