Wednesday, October 29, 2008
Where the Hell is Pierre?
Sorry about that title, but honestly I am pretty worked up about this. Billionaire, Pierre Omidyar should stop writing tweets about the state of America and start concentrating on the state of eBay. Maybe if we shame him publicly, we can get him to do his job for the good of each of eBay's stakeholders.
The problem with eBay is not John Donahoe (he's a hired gun), the problem is Pierre Omidyar. He is the majority shareholder and Chairman of the Board and the only one with any real power.
He created a site that became the single best "personal empowerment" story ever told and turned it over to Wall Street and the MBA's. They enriched him so he could pontificate about the terrible state of America when he has in his grasp a tool to empower real Americans.
I have lost all respect for the man. He has no real principles he's just a blow-hard. If he wanted to, he could in a heart-beat tell John Donahoe and the rest of the Board what he wants. He had a vision in the early days but the money corrupted him. He owns 177 million shares, which gives him all the power he needs.
Steve Jobs, came back to Apple and turned it around. Pierre is no Steve Jobs, but he is the only person with any real power. Meg Whitman is just a director, John Donahoe works at the behest of the BOD (Board of the Directors) If Pierre had any balls he would just say; enough-is-enough this is what we are going to do. He then just needs to hire an entrepreneur with vision and guts to run the company.
There, sorry for the rant, but I'm laying all of this at Pierre's door.
Just my 15%