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their daily lives…to help nurture more people with the imagination of 11/9 than 9/11。 
Let me offer a few examples。 
eBay 
Meg Whitman; the CEO of eBay; once told me a wonderful story that went like this: 
〃We took eBay public in September 1998; in the middle of the dot…com boom。 And in 
September and October our stock would go up eighty points and down fifty in a single 
day。 I thought; 'This is insane。' Anyway; one day I am minding my own business; sitting 
in my own cubicle; and my secretary runs over and says to me; 'Meg; it's Arthur Levitt 
'chairman' of the SEC on the phone。'〃 The Securities and Exchange Commission oversees 
the stock market and is always concerned about issues of volatility in a stock and 
whether there is manipulation behind it。 In those days; for a CEO to hear that 〃Arthur 
Levitt is on the line〃 was not a good way to start the day。 
〃So I called my general counsel;〃 said Whitman; 〃who came over from his cubicle; and 
he was white like a sheet。 We called Levitt back together and we put him on the 
speakerphone; and I said; 'Hi; it's Meg Whitman of eBay。' And he said; 'Hi; it's Arthur 
Levitt of the SEC。 I don't know you and have never met you but I know that you just 
went public and I want to know: How did it go? Were we 'the SEC' customer…friendly?' 
And so we breathed a sigh of relief; and we talked about that a 
454 
little bit。 And then 'Levitt' said; 'Well; actually; another reason that I am calling 
is that I just got my tenth positive feedback on eBay and have earned my yellow star。 
And I am so proud。' And then he said; 'I am actually a collector of Depression…era 
glass; post…1929; and so I have bought and sold on eBay and you get feedback as a 
buyer and seller。 And I thought you would just like to know。'〃 
Every eBay user has a feedback profile made up of comments from other eBay users who 
have done transactions with him or her; relating to whether the goods bought or sold 
were asexpected and the transaction went off smoothly。 This constitutes your official 
〃eBay reputation。〃 You get +1 point for each positive comment; 0 points for each 
neutral comment; and …1 for each negative comment。 A colored star icon is attached 
to your user ID on eBay for ten or more feedback points。 My user ID on eBay might 
be TOMF (50) and a blue star; which means that I have received positive feedback 
comments from fifty other eBay users。 Next to that is a box that will tell you whether 


the seller has had 100 percent positive feedback comments or less; and also give you 
the chance to click and read all the buyers' comments about that seller。 
The point; said Whitman; is that 〃I think every human being; Arthur Levitt or the 
janitor or the waitress or the doctor or the professor; needs and craves validation 
and positive feedback。〃 And the big misconception is to think that it has to be money。 
〃It can be really small things;〃 said Whitman; 〃telling someone; 'You did a really 
great job; you were recognized as doing a great history paper。' Our users say to us 
'about eBay's star system'; 'Where else can you wake up in the morning and see how 
much people like you?'〃 
But what is so striking; said Whitman; is that the overwhelming majority of feedback 
on eBay is positive。 That's interesting。 People don't usually write Wal…Mart managers 
to compliment them on a fabulous purchase。 But when you are part of a community that 
you feel ownership in; it is different。 You have a stake。 〃The highest number of 
feedback we have is well over 250;000 positive comments; and you can see each one;〃 
said Whitman。 〃You can see the entire history of each buyer and seller; and we have 
introduced the ability to rebut。 。 。 You cannot be anony

mous on eBay。 If you are not willing to say who you are; you should not be saying 
it。 And it became the norm of the community really fast。 。 。 We are not running an 
exchange…we are running a community。〃 Indeed; with 105 million registered users from 
190 countries trading more than 35 billion in products annually; eBay is actually 
a self…governing nation…state…the V。R。e。; the Virtual Republic of eBay。 
And how is itgoverned? EBay's philosophy; said Whitman; is; 〃Let's make a small number 
of rules; really enforce them; and then create an environment in which people can 
fulfill their own potential。 There is something going on here besides buying and 
selling goods。〃 Even allow…
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