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Perseverance Quote of the Day

Pierre Omidyar

Founder and Chairman, eBay

You can't predict growth and success -- no one in their right mind would predict 30 percent growth for another year every month -- I mean, monthly growth for another year. So we were behind on a lot of things and a lot of the infrastructure, and we had some fairly public failures in the middle of '99, and where our systems went down for 22 hours and then went down for eight hours after that. And we had a very large community then. Not as large as today obviously, but still very large, front page news. We had CNN satellite trucks in the parking lot. I mean, it was big, big. "The world is watching, this company is gone. It's going away." And I think failure of that magnitude, or a challenge of that magnitude, is really important and I'm glad that we faced it so early in our evolution, because Meg, who is the CEO -- I brought on Meg in March of '98 -- she really woke up to the fact that infrastructure and technology was critical and just really built that organization out over the next -- it was a six to nine month process for us to kind of get over that. And so I think those challenges are also really critical and really important. And what you learn from them is, of course, kind of what they say, "If it doesn't kill you, it makes you stronger," and it's true. And what you learn from those challenges and those failures are what will get you past the next ones.
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