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Inside this Book – Eight thousand dollars certainly didn’t mean much to these people, but it did to me. I worked for the oldest of the old economy firms, the buttoned- down Arthur Andersen, which at the time was still viewed as one of the world’s most trusted and respectable professional services companies. The partners running the firm called it a privilege for people my age to have the opportunity to start out at such a venerable institution, and in return they paid stingy salaries to match. Peter made sure I would not mistake Confinity for another Andersen. He was offering me stock options and an increase in salary even though he wasn’t sure exactly which position I’d fill. It didn’t matter, he assured me, since Confinity had just launched its software product and needed talented people as quickly as possible. The product let people exchange money for shared expenses such as dinner bills and utilities, a novel idea that seemed poised to catch on despite its silly name—PayPal. “Yes, an extra $8,000,” Peter chirped, refocusing my attention. “Now, let’s see, you could always ask Andersen if they’re willing to pay you the $8,000 to stay another two weeks,” he added, smiling. He had me and he knew it.
Inside this book –The PayPal Wars PDF Book by Eric M. Jackson – In some respects dotBank did more than just copy PayPal; aspects of its service were better. While it did not have PDA software for Palm Pilots, dotBank did have a pair of online features that promised to enhance its growth prospects. A money request feature enabled its users to send an electronic invoice to a third party. The e-mail would tell the recipient the requested amount, give him a list of instructions for using dotBank to pay the bill, and provide a link to the dotBank site. A second feature for group payments allowed a user to send a money request to several people at once and track who made a payment. It was an intuitive way to facilitate payments for club dues or dinner bills with large groups, the kinds that we’d been touting as uses for PayPal. Both of these features would increase the ease with which dotBank’s customers could conduct payments with others, and in the process attract non-users to dotBank’s site. The presence of a competitor capable of putting together such a slick Web site sent shock waves through our office. Outrage quickly turned to urgency as Peter ordered product manager Jamie Templeton to get the engineers working on a response. If there was any consolation to dotBank’s launch, it was that its features could be replicated. In fact, both the money request and group payments tools had been on Confinity’s planning list for a while but development had been delayed to pursue other matters. No longer. Peter instructed Jamie to have the engineers get the “dotBank features” live on PayPal’s site before anyone took time off for Christmas, by then less than a week away. The programmers tackled the assignment with an intensity and focus that I could not have imagined during my traumatic first day on the job. The whiff of chaos that shaped my initial impressions of Confinity remained undetected this time. To the contrary, although the engineers debated with Jamie and Max over the best way to execute specific points of the strategy, everyone knew the role they were being asked to assume and plunged into it with fervor. A challenge had been placed in front of them, and the company’s needs—to keep PayPal a step ahead of the competition—were clear. Unlike the minions of Andersen, for whom assignments seemed to be randomly handed down from on high, this youthful team of coders knew it had an important task to address and felt empowered to influence the way that job would be done. This caused them to band together and pour their energy into finding a response to this competitive threat.
The PayPal Wars by Eric M. Jackson PDF : eBook Information
- Full Book Name – The PayPal Wars
- Author of this Book – Eric M. Jackson
- Language – English
- Book Genre – Non-Fiction, Business, History, Biography
- Download Format – PDF
- Size – 1.8 MB
- eBook Pages – 299
- Price – Free