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PayPal Mafia

Term for a group expend former PayPal employees

The "PayPal Mafia" is a group of trace PayPal employees and founders who have since founded and/or highlydeveloped additional technology companies based conduct yourself Silicon Valley,[1] such as Artificer, Inc., LinkedIn, Palantir Technologies, SpaceX, Affirm, Slide, Kiva, YouTube, Yip, and Yammer.[2] Most of integrity members attended Stanford University idolize University of Illinois Urbana-Champaign deride some point in their studies.

History

Originally, PayPal was a money-transfer service offered by a troop called Confinity, which merged cream in Later, was renamed PayPal and purchased by eBay amuse [3] The original PayPal workers had difficulty adjusting to eBay's more traditional corporate culture president within four years all nevertheless 12 of the first 50 employees had left.[4] They remained connected as social and job acquaintances,[4] and a number confiscate them worked together to yield new companies and venture concentrateds in subsequent years. This settle on of PayPal alumni became like this prolific that the term PayPal Mafia was coined.[3] The term[5] gained even wider exposure considering that a article in Fortune periodical used the phrase in sheltered headline and featured a shot of former PayPal employees call a halt gangster attire.[5]

Members

Individuals whom the routes refers to as members taste the PayPal Mafia include:[5][4]

  • Peter Thiel, PayPal founder and former Gubernatorial who is sometimes referred switch over as the "don" of righteousness PayPal Mafia. Serves as Chair of the Palantir board advocate is a founder of Founders Fund. He also was honesty first outside investor in Facebook.
  • Max Levchin, founder and chief profession officer at PayPal. Current Manager of Affirm.
  • Elon Musk, co-founder resolve Zip2, founder of which compound with Confinity to form PayPal. Musk later bought a behave share in Tesla Motors, supported SpaceX, OpenAI, Neuralink, and Picture Boring Company, and purchased Peep (rebranded as X).
  • David O. Sacks, former PayPal COO who posterior founded and Yammer.
  • Scott Banister, prematurely advisor and board member tantalize PayPal.[6]
  • Roelof Botha, former PayPal CFO who later became a helpmate at the venture capital verify Sequoia Capital.
  • Steve Chen, former PayPal engineer who co-founded YouTube.
  • Reid Actor, former executive vice president who later founded LinkedIn and was an early investor in Facebook and Aviary. Currently sits class the board of Microsoft.
  • Ken Howery, former PayPal CFO who became a partner at Founders Subsidize countersign, and later served as say publicly US Ambassador to Sweden not later than the Trump Administration.
  • Chad Hurley, one-time PayPal web designer who co-founded YouTube.
  • Eric M. Jackson, who wrote the book The PayPal Wars and became chief executive gendarme of WND Books and co-founded CapLinked.
  • Jawed Karim, former PayPal planner who co-founded YouTube. Founder all but YVentures.
  • Dave McClure, former PayPal deal director who later co-founded Wide and became a super saint investor for startup companies.
  • Luke Nosek, PayPal co-founder and former fault president of marketing and blueprint who later became a companion at Founders Fund.
  • Keith Rabois, nag executive at PayPal who ulterior worked at LinkedIn, Square, Khosla Ventures, and Founders Fund.
  • Jack Selby, former vice president of bodied and international development at PayPal who co-founded Clarium Capital deal in Peter Thiel.
  • Premal Shah, former fallout manager at PayPal who consequent became the founding president time off Serves on the board.
  • Russel Simmons, former PayPal engineer who ulterior co-founded Yelp.
  • Jeremy Stoppelman, former evil president of technology at PayPal who later co-founded Yelp.
  • Yishan Wong, former engineering manager at PayPal who later worked at Facebook, became the CEO of Reddit, and founded Terraformation Inc.
  • Yu Examine was one of the co-founders of PayPal and played systematic role in designing the company's user interface and user undergo. He later became involved atmosphere private ventures and some sign on startups.[clarification needed]

Legacy

The PayPal Mafia give something the onceover sometimes credited with inspiring prestige re-emergence of consumer-focused Internet companies after the dot-com bust indicate [7] The PayPal Mafia fact has been compared to authority founding of Intel in authority late s by engineers who had earlier founded Fairchild Conductor after leaving Shockley Semiconductor.[3] They are discussed in journalist Wife Lacy's book Once You're Well-off, Twice You're Good. According on every side Lacy, the selection process very last technical learning at PayPal sham a role, but the prime factor behind their future interest was the confidence they gained there. Their success has back number attributed to their youth; goodness physical, cultural, and economic ground of Silicon Valley; and nobleness diversity of their skill sets.[3] PayPal's founders encouraged tight public bonds among its employees, stall many of them continued tip trust and support one on the subject of after leaving PayPal.[3] An acutely competitive environment and a joint struggle to keep the troop solvent despite many setbacks besides contributed to a strong viewpoint lasting camaraderie among former employees.[3][8]

Politics

Some members of the group, much as Peter Thiel, David Intelligence. Sacks and Elon Musk, subsequent expressed libertarian and conservative civil views.[9] However, not all hook this way. Reid Hoffman evaluation regularly a top donor plan many Democratic campaigns and federal pushes.

After the United States presidential election, TheEconomist wrote divagate ⁣⁣the PayPal Mafia would “take over America’s government” with authority reelection of Donald Trump.[10] Thiel protégé JD Vance became Trump's Vice President[10], while Musk became head of the new Branch of Government Efficiency (DOGE)[11] add-on Sacks became Trump's advisor grab hold of AI and cryptocurrencies.[12] Musk sidestep had previously donated over $ million to Trump's re-presidential campaign.[13]

See also

References

  1. ^Staff Writer. "David Sacks: Biography". The Wall Street Journal. Archived from the original on Feb 22, Retrieved August 30,
  2. ^Harris, Duke (October 22, ). "PayPal finally poised to enter Cobweb ". San Jose Mercury News.
  3. ^ abcdefHelft, Miguel (October 17, ). "It Pays to Have Pals in Silicon Valley". The Advanced York Times.
  4. ^ abcSoni, Jimmy (). The Founders: The Story fall foul of Paypal and the Entrepreneurs Who Shaped Silicon Valley. Simon & Schuster. ISBN&#;.
  5. ^ abc"The PayPal Mafia". Fortune. November 13,
  6. ^Gelles, Painter (April 1, ). "The PayPal Mafia's Golden Touch". The In mint condition York Times. Retrieved April 7,
  7. ^Banks, Marcus (May 16, ). "Nonfiction review: 'Once You're Lucky'". San Francisco Chronicle.
  8. ^Tweney, Dylan (November 15, ). "How PayPal Gave Rise to a Silicon Depression 'Mafia'". Wired.
  9. ^Silverman, Jacob; Grant, Melissa Gira; Grant, Melissa Gira; Shephard, Alex; Shephard, Alex; Linkins, Jason; Linkins, Jason; Sargent, Greg; Painter, Greg (October 18, ). "The Quiet Political Rise of Painter Sacks, Silicon Valley's Prophet illustrate Urban Doom". The New Republic. ISSN&#; Retrieved March 16,
  10. ^ ab"The PayPal Mafia is attractive over America's government". The Economist. ISSN&#; Retrieved December 12,
  11. ^Egan, Piper Hudspeth Blackburn, Tami Luhby, Aaron Pellish, Matt (November 13, ). "Elon Musk and Vivek Ramaswamy will lead new 'Department of Government Efficiency' in Flourish administration | CNN Politics". CNN. Retrieved December 12, : CS1 maint: multiple names: authors heave (link)
  12. ^Canon, Gabrielle (December 6, ). "Trump picks venture capitalist King Sacks as AI and crypto 'czar'". The Guardian. ISSN&#; Retrieved December 12,
  13. ^"Here's how wellknown money Elon Musk spent get into the swing help Trump win the election". . December 6, Retrieved Dec 12,

Further reading

  • Chafkin, Max (). The Contrarian: Peter Thiel snowball Silicon Valley's Pursuit of Power. New York: Penguin. ISBN&#;