Did Google Just Decide to Kill Craigslist and eBay?

Suddenly, Google (NASDAQ: GOOGL  ) is getting grabby. According to a report from the Google Operating System, a new service called Google Mine is in the works that would allow Google+ users to document and share what they own.

All Google will say is that it is always working on new things. No news there. But imagine if Google Mine does come to be. Not only could you share notes about your collections, or document valuables for insurance purposes, but you could also Imagine a barter system whereby you sell or trade via Google+, with any money exchanged via Google Wallet. A tailored credit or debit card might not be far behind, says Fool contributor Tim Beyers in the following video.

At the very least, the idea threatens eBay (NASDAQ: EBAY  ) . The company depends on an ever-increasing volume of transactions to fund growth. In Q1, the auctioneer was responsible for $49 billion worth of commerce. By 2015, eBay wants to enable $300 billion in commerce annually, up from $175 billion last year. Google Mine, like Craigslist before it, could stand in the way of that.

Do you agree? Please watch the video to get Tim's full take, and then let us know if having Google Mine would make you more or less bullish on the search king's long-term prospects.

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  • Report this Comment On June 30, 2013, at 12:19 PM, ScottAtlanta wrote:

    Google Mine? Sounds like a toddler that is claiming your stuff....

    Except this "toddler" is a multinational corporation that also knows how you think, can predict your behaviors, knows your travel routes and your location within a few feet, knows what your house looks like, knows who you talk to and when and for how long, the content of your emails, etc.....so now they'll inventory all that you own.

    If Google were a government we'd fear it.

    Knowing that our gov't can access any of Google's info...info that our gov't would otherwise not be able to collect on it's own (via consent or ability)....we can see how they are inter-dependent...the corp. and the gov't in their implicit conspiracy to control the population...each individual. That's a recipe for absolute power that strips away what it means to be free.

    I think that with every encroachment upon privacy that we should have a serious discussion about the implications and protections that can be put in place. Don't use the service you say? Don't have anything to hide you say? You'd have to drop out of society to not use some of these services (the societal costs of 'opting out' are too high)....and there must always be room for minority voices in a democracy --- having no privacy means having no voice.

    Those are my thoughts on "Google Mine."

  • Report this Comment On July 01, 2013, at 7:54 AM, fortunategromit wrote:

    I'm in full agreement with ScottAtlanta, you would have to be crazy to use Google Mine.

    Criminals have already used Street View to see which houses are easier to break into, now with Mine they'll have a list of goodies to go along with it.

    Personally I'm disgusted with Google, they betrayed their customers the moment they rolled over to the government and handed over all information. They should have done the right thing and told them to pound sand, then let the courts decide, then maybe Snowden wouldn't have had to leave his home and family.

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