Paypal mafia companies1/18/2024 What strong beliefs on culture for entrepreneurialism did Peter, Max and David have at PayPal?Įxtreme Focus(driven by Peter): Peter required that everyone be tasked with exactly one priority. As an angel investor, I’ve invested in two college dropout founders this month. Mark Zuckerberg, Facebook founder, is another dropout. Evan Williams, Biz Stone, Jack Dorsey - the founders of Twitter - are not college graduates. Rob Kalin, Etsy’s founder, never finished college. Indeed, Caterina Fake just published an outstanding post advocating that entrepreneurs drop out of college: Nevertheless, at PayPal we often urged students to drop-out and some of the best entrepreneurs I have met subsequently dropped out of school too. Paul Graham’s advice is sound (Students Guide to Startups): Should a student finish college or go work for a startup if given the chance to work for a YC, TechStars alumni? We also provided free lunch in the 1840 Embarcadero Office, but stopped serving lunch when we moved to Mountain View off of Castro Street. Yes, in we provided free breakfast at dinner at 8 pm during the week at PayPal during 2000 -2002. In addition to the elements that Reid has identified:ġ) Confrontational culture: People needed to fight for their ideas against vigorous critiques.ģ) Internal promotions (nearly exclusively) for executive and managerial roles.īefore Google, were there other Silicon Valley companies that provided their employees with free meals while at work? “this is the way that it is always done”ģ) intense need to survive: lots of immediate challenges to ongoing lifeĤ) entrepreneurial execs/teams that create/reinforce cultureĥ) and, as always, luck, fortune, or whatever you call it… What key values led to early PayPal’s culture of entrepreneurship?ġ) hiring: youthful, smart, driven people with a strong hunger to winĢ) taking no answer at face value - e.g. * Max Levchin, David Sacks, Reid Hoffman, Keith Rabois, Yishan Wong, Dave McClure The PayPal Mafia* (in their own words) on:
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