mind=body=soul

loved 0:20-0:30, rest is gory entertaining. yeah im a sadist.

Many of you know I've said in the past that 10 years was about the right amount of time for any CEO to stay at the helm of a company. Now that I've reached that milestone myself, I still believe this. It's time for eBay, and this community, to have a new leadership team, a new perspective and a new vision.

As we announced today, I will step down as eBay's President and CEO on March 31, 2008, and our current head of eBay Marketplaces, John Donahoe, will succeed me in my role. Rajiv Dutta, our current president of PayPal and former CFO for several years, will replace John as the president of eBay Marketplaces. You'll be hearing more from them and their teams in the coming weeks and months.

Looking back, I was given a remarkable opportunity when Pierre Omidyar, eBay's founder, asked me to join eBay in January 1998. Ten years later, I couldn't be more in awe of what we accomplished together. When I joined eBay, it was a small site, in some ways still very much an experiment. Most people didn't know, or didn't believe, that perfect strangers would trade with one another, and that they could almost always be counted on to do the right thing.

Over the course of a decade, you have helped revolutionize the way people use the Internet, buy and sell things, create and grow businesses, and connect with each other. In 2007 alone, our community of hundreds of millions of people around the world traded more than $60 billion in goods. Millions found the courage to tap their entrepreneurial spirit and start businesses. Millions more have pursued passions and made connections that will last a lifetime. And countless others found that perfect thing - an old high school yearbook, a favorite toy from their youth - that they couldn't get anywhere else.

I am truly astounded by what has been built here. And all the credit goes to you, our community. You took the chances to start businesses. You created markets for products where there were none before. You defined what it means to be a good citizen in this Internet-enabled world. And yes, we hit a few bumps along with way, but that's to be expected when you're building something that has never existed before. But even, and especially, during those times, I was always inspired by the passion you showed.

It's with great pride and a strong sense of accomplishment that I leave this post and hand it over to the capable leaders we have in John and Rajiv. I've known both of them for many years and have believed for a long time that they are the ideal people to steer eBay into the future.

eBay is in my blood and always will be, so I'm not stepping back completely; I will remain on eBay's Board of Directors. And of course, I'll keep buying and selling on the site.

I'm so very honored to have worked with you in building this incredible community. Thank you for letting me be a part of it for the last decade.

Meg

So, it looks like its really only the hyped 1 lakh Rs. wow. Its very refreshing to hear once in a while India comes up with a PRODUCT that can take the world aback. Kudos to Tata team for that.

On the good side, more ppl can afford to buy cars and std. of living is going to improve making the affordable levels between rich/poor lesser. I love US for this reason of affordability - a normal job like waitress in coffee shop can afford to live in an apt,have a car,take vacations to other countries.

Im sure the demand for the other cars are going to drop drastically from today after the news. Other manufacturers wondering how they were able to cut costs and whether they can adopt the same for thier country.

Assuming the quality of the car is good(which cannot be known until a while after its release), I would welcome it. By quality I mean usual things like mileage,maintainance(prob over years),enough safety for city (you cannot compare safety to expensive cars) but it has to be atleast decent.

Ofcourse theres going to be a small population who maynot prefer it,bcos if suddenly all u see is Tata cars on the road, thats going to affect their ego - its no more "cooler" to buy one. If I was I wouldnt care, all I care in a car is a music system :)

On bad side, its going to increase the traffic,dust/smoke,global warming everything exposing the lack of infrastructure more. Now even smaller towns(not just cities) will start get crowded and make any commute a hell.
Anyway such advancement cannot be stooped just bcos of the fundamental problem(poor infrastructure). It will just make it no other choice for govt. but to improve it, which is good.

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