Public variable not the same as using a property?

If I have a class with a public variable, isn't this the same as a
private variable with a property? ie, isn't this:

Public Class MyTest
Public MyVar as String
End Class

the same as this:

Public Class MyTest
Private _MyVar as String
Property MyVar
Get
Return _MyVar
End Get
Set (byval value as String)
_MyVar = value
End Set
End Property
End Class


I always thought so, in fact, I thought that the complier converted
the first into the second.

Yet, when I try to databind a generic list of MyTest to a gridview
using the first syntax, it fails. When I use the second syntax it
succeeds.

Does anyone know why?
.

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