Hassle-free payment technology zone.

On the rows of workstations, there are thirty or forty engineers sitting scattered, their eyes focused on the computer screen, their fingers jumping quickly on the keyboard, and the lines of code are like gathered magic elements, accumulating to a certain next stage of packaging and compilation.

Roy has rarely been in his own private office, sitting in a corner of the tech district almost all these weeks, keeping an eye on the progress of the payment system, and now that PayPal is one step ahead, he feels stressed.

At the end of the 90s, the mainstream payment methods in the U.S. market were cash, credit cards and ATMs. But these payment methods are cumbersome, infrastructure-dependent, and often used at the merchant end, making transfers between consumers cumbersome, often with a check written and cashed at the bank. It takes at least six or seven days from the time the customer issues the check to the time the merchant receives the payment. (Appendix 1)

Now, the worry-free payment developed under the guidance of Roy will make an unprecedented payment method, which can make it very convenient for consumers to transfer and pay between each other. In the future, important online shopping guarantee services will also be extended to help users who shop online reduce payment risks.

However, this involves another question, eBay, Amazon, and other shopping sites, do not provide a guarantee mechanism similar to China's Taobao?

In fact, there was no such thing as this period, but they were all trying to explore and develop.

There is a big difference between eBay and Taobao now. eBay started from a small auction market to do online transactions, the auction things are stamps, coins and other small items, and some bits and pieces of second-hand goods, real daily necessities are still very few people buy online.

In particular, with Wal-Mart, the "price butcher", and Costco's membership's low prices and strict selection, the situation of online shopping is as embarrassing as chicken ribs.

Before the more brutal price war in Amazon's online shopping mall started, the downturn in online shopping in the United States and the boom in online shopping in China are really very different.

The competitive environment is complex and has little to do with Americans' resistance to new technologies.

Therefore, based on the current special situation, the Internet payment system, even if there is no dependent platform, can take root and sprout independently.

……

Roy watched this payment system take shape in his own hands, and the excitement in his heart gradually increased.

At this time, a girl with clear eyebrows trotted over, and when she saw Roy, her originally clear gray eyes were full of smiles. She reported the good news: "Leader, the interface for our group's individual transfer has been completed. ”

Roy smiled and nodded, the girl in front of her is called Angie, it is Roy who taught her how to choose the industry and leadership during the PayPal interview, but did not expect that the other party was inspired by Roy's brainwashing divine comedy, came here for an interview, and even passed, I have to say, this is really fate.

After a while, another technical manager, Keno Garden, also came to report the good news: "Leader, the task of building the framework on my side has been completed, and I can move on to the next link." He clearly wanted to compete with Angie's group.

“NICE。 Roy applauded. Keno graduated from Stanford University, his programming skills are very fierce, and he also had a relationship with Roy at the PayPal job fair, but he didn't expect to join his company by mistake.

Roy was proud in his heart, such a good talent PayPal didn't even want it, to blame PayPal for only recruiting UIUC students, this cheap he had to pick up.

The software development process is progressing in an orderly manner, everything is on plan, and the pace is much faster than expected.

However, before Roy was complacent for a while, Noah hurried over and said seriously: "There is good news and bad news, which one do you want to listen to first?"

Why does everyone like to play such a routine of expression now, does it seem that he is very forced to say this?

Roy was tempted to answer: he didn't want to know. However, I also have to cooperate with the question: "Let's listen to the good news first." ”

"The good news is that the business is just a one-stop financial service, for example, ordinary investors can manage their money and make investments here. There is no direct conflict with our model. ”

Roy was a little surprised, "Huh...... Good news indeed, one less competitor. What about the bad news?"

"The bad news is that PayPal has launched its own payment system. ”

"So fast!" Roy had nothing to say, the truth was far more cruel than he imagined, and the consequences of losing the opportunity to seize the market were unimaginable.

……

Roy and Noah come to the conference room together.

"Noah, the situation is serious right now, and I have a bold promotion plan that will allow us to reverse the unfavorable situation. ”

"Is it the one you mentioned earlier, who gives a $10 bonus for every new user you referral?" Noah's face turned cloudy, and his tone became impatient.

"Hey, don't be nervous, think about what happens when you do that? As soon as we launch our product, there will be a large number of people who will help us promote it for free, even if he only introduces 10 people a day, he will get a commission of $100, which is more profitable than any temporary worker." Driven by profits, the market size of our payment system will be like a torrent, out of control, and quickly seize the leading position in the market. ”

"I admit that what you said is very reasonable, but have you calculated how long we can support our current capital of only 50 million? two months, three months? Once the A round of financing does not keep up, our company will be in danger. ”

"Don't worry, you're worrying too much. There are not many people who can afford to use the online payment system now. Therefore, we can't burn much money, as long as we can preemptively occupy the minds of customers and gain the majority of the market share, we will monopolize the industry and build a moat barrier, and no one will be able to enter. ”

Noah looked at Roy, was silent for a while, and decided, "No!"

"Really?"

"It's too risky. ”

Roy walked over to a nearby whiteboard and wrote down the words "Network Effects." He slapped his face, stared at Noah with fierce eyes, and asked, "Tell me, what is this?"

"Network effects?"

"Noah, your gameplay in the traditional industry has long been outdated in the Internet era, and everything has to be subverted and subverted. Entrepreneurs who have not spent time on the Internet have no idea the power of the word 'network effect'. Prick up your ears and let me tell you now!"

Noah frowned slightly, showing his inner disdain.

[PS] Appendix 1: Although ATMs are very popular at this time, there is no transfer function between personal accounts.

Although I felt a little strange, I looked up a lot of information and it was true at the time.

If you know, you can leave a message to tell me the deeper reason.