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Ep. 180: Porter Erisman Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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The Battle of eBay and Taobao

Taobao made it free for three years while eBay was charging for product listings and transaction costs. We integrated online chat so people could get to know each other a little bit better. For our payment system, we made it an escrow-based system where the seller did not receive the money until the buyer had said that the product was OK. So there was a lot of different things that adapted to the China market that eBay failed to innovate on.

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