Date: Mon, 31 Dec 2001 10:59:35 -0800 From: Terry Lambert <tlambert2@mindspring.com> To: Brett Glass <brett@lariat.org> Cc: jgrosch@mooseriver.com, chat@FreeBSD.ORG Subject: Re: Confirm Your PayPal Membership Message-ID: <3C30B597.75EDE4FE@mindspring.com> References: <4.3.2.7.2.20011231011757.01d72730@localhost> <4.3.2.7.2.20011226145226.021974b0@localhost> <4.3.2.7.2.20011227092550.01c87ae0@localhost> <3C2FCA60.99829AA7@mindspring.com> <4.3.2.7.2.20011231011757.01d72730@localhost> <4.3.2.7.2.20011231014644.00e7af00@localhost>
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Brett Glass wrote: > At 01:38 AM 12/31/2001, Josef Grosch wrote: > >So, you are basically saying the PayPal is a ponzi scheme? > > A Ponzi scheme is a bit different in that it claims to be > an investment. PayPal doesn't claim to give users a gain on > their money. But they likely have high overhead (due to the > costs of employee salaries, bandwidth, fraud, fees paid > to creit card companies, etc.) and could well spend > substantially more than they can make on float. My suspicion > is that their liabilities exceed their assets as a result on > this, and that they could therefore not sustain a run. You're wrong. They aren't allowed to touch the money, only the interest on the money, for which they do not give interest. Read their S-1 filings. -- Terry To Unsubscribe: send mail to majordomo@FreeBSD.org with "unsubscribe freebsd-chat" in the body of the message
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