The eBay case continues with a brief financial contrast of eBay’s “bits” based business model vs. WalMart’s “atoms” based model, and a discussion of the challenges of transitioning from a growth to maturing business. We conclude the semester with an additional study of network effects in action. A very brief introduction to venture funding and the IPO markets is offered, highlighting IPO market inefficiencies. W.R. Hambrecht's OpenIPO process is discussed – an effort that attempts to address these inefficiencies through a market efficiency auction. The effort’s initial struggles are highlighted, as well as the firm’s recent successes (Note: this file is in enhanced podcast format).