Irrational Commerce – From my old Colleague Adam Nash

Really nice blog post from Adam Nash at LinkedIn, an old colleague of mine from Ebay.  Lots of similar observations as the ones I discussed a few days ago (but far more eloquently as usual).

Below if my favorite blurb discussing the seller side of the equation, but it’s really worth reading the whole piece.

“In every sense of the word, it was irrational commerce.  It was a labor of love, not economics.  Sure, it was a good way to pad the income of a family.  But for many the money was just a rationalization – they were really in it for the excitement, the activity, the empowerment, and of course, the community.  If you calculated the “wage rate” of many of these sellers, it would be shockingly low.  But no one did, because that wasn’t the point.  It was fun.  It was empowering.”