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Or not somebody could set up a website and actually make money. and the proof of concept of that was pornography. >> for the most part, entrepreneurs have not figured out a way to make profit on the internet. that is, until ebay came along. >> pierre omidyar started the auction site as a hobby. three years later, it has a market value of close to $6 billion and is a superstar on wall street. ebay makes its money by charging to list an item, then takes a small percentage of the final selling price if it sells. if you've got an item you want to sell like a 1967 green hornet lunch pail, for examp...

>> our little shopping carts that we now use are invented by pornographers. >> what was unknown was whether or not somebody could set up a website and actually make money. and the proof of concept of that was pornography. >> for the most part, entrepreneurs have not figured out a way to make profit on the internet. that is, until ebay came along. >> pierre omidyar started the auction site as a hobby. three years later, it has a market value of close to $6 billion and is a superstar on wall street. ebay makes its money by charging to list an item, then takes a small percentage of the final sell...

It boosted consumer acceptance of online credit card use. >> our little shopping carts that we now use are invented by pornographers. >> what was unknown was whether or not somebody could set up a website and actually make money. and the proof of concept of that was pornography. >> for the most part, entrepreneurs have not figured out a way to make profit on the internet. that is, until ebay came along. >> pierre omidyar started the auction site as a hobby. three years later, it has a market value of close to $6 billion and is a superstar on wall street. ebay makes its money by charging to lis...

Market value of close to $6 billion and is a superstar on wall street. ebay makes its money by charging to list an item, then takes a small percentage of the final selling price if it sells. if you've got an item you want to sell like a 1967 green hornet lunch pail, for example, you write up a brief description, add a digital photo and decide on an opening bid. >> ebay really changed everything, and not because what they were offering was so incredible and revolutionary. essentially what they were doing was they were automating the middleman. >> 600 million hits a month. >> that's right. >> th...

What was unknown was whether or not somebody could set up a website and actually make money. and the proof of concept of that was pornography. >> for the most part, entrepreneurs have not figured outs how to make profit on the internet, that is until ebay came along. >> pierre omidyar started the auction site as a hobby. three years later, it has a market value of close to $6 billion and is a superstar on wall street. ebay makes its money by charging to list an item, then takes a small percentage of the final selling price if it sells. >> if you've got an item you want to sell like a 1967 gree...