posted on September 14, 2000 04:00:10 PM new
Paypal never could make money off the float, considering the cc processing charges. That was the first of many lies.
Their plan was to sucker in as many users as possible, lieing about how they could afford to do it for free, and by giving sign-up bonuses.
Then they offered a business account, lieing again about ever making people sign up for it.
Then they lied again saying that if you were not a business you wouldn't have to upgrade.
Then they lied again saying if you only did a few auctions a month, you could keep a free personal account.
Meanwhile, they send little Damon to the boards to chat evereybody up and keep things cool for as long as possible.
Finally, with enough registered users, they drop the axe.
Those who convert to the fee system become profitable to them. Those who don't - well good riddance as they don't make Paypal any money anyway.
Classic bait and switch.
Question: Even if they are a bit cheaper, do you want to do business with people like that?
