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Inside the 'PayPal Mafia'

Company's first generation behind $30 billion of cutting edge companies

By Peter Fearon, Newser Staff

Posted Nov 15, 2007 4:55 AM CST

(Newser) – They may be the most brilliantly successful—or luckiest—or both—small group of entrepreneurs in history: PayPal alumni who, like founders Peter Thiel and Max Levchin, left the company to create $30 billion worth of innovation: YouTube, Facebook, Slide, Yelp, Digg, investment firms, philanthropies, solar-power companies, an electric car maker and a Mars colonization plan. Fortune Magazine infiltrates the "PayPal Mafia" for clues to their success.

"Google wanted Ph.D.s, and PayPal wanted the people who got into Ph.D. programs and dropped out," former CFO Roelof Botham recalls. Levchin says he hired people just like himself. "He thinks like me, he's just as geeky, and he doesn't get laid very often," Levchin said. "Great hire! We'll get along perfectly."

Members of the PayPal mafia have gone on to build and acquire fortunes of stock in sites like YouTube, Facebook and Digg. (Getty Images (by Event))

A PayPal screen capture. Former PayPal founders and employees have branched off into many profitable internet ventures, referring to themselves unofficially as "The PayPal Mafia." (Wikimedia Commons)

Facebook Co-Founder Dustin Moskovitz Speaks At CTIA. Am early stake in Facebook has helped support the fortunes of at least one member of the PayPal Mafia. (Getty Images)

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Inside the 'PayPal Mafia'

Company's first generation behind $30 billion of cutting edge companies

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Angry Dad Shoots Daughter's Laptop

Tommy Jordan punished daughter for criticizing parents on Facebook

Hackers Want PayPal Users to Close Accounts

Anonymous tries a boycott instead of a hack this time

Hollywood Wants You for Its First 'Social Movie'

Crowdsourced thriller 'Inside' issues online casting call

Zuckerberg Woos New Hires With Walk in Woods

'Felt like I was on a date'

Woman's New Tattoo: 152 Facebook Friends

She posts video of the process

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Inside the 'PayPal Mafia'

Company's first generation behind $30 billion of cutting edge companies

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OTHER STORIES ON OUR RADAR

PayPal Mafia

YouTube • Silicon Valley • eBay • Facebook • PayPal • Peter Thiel • Max Levchin • Clarium Capital

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Angry Dad Shoots Daughter's Laptop

Tommy Jordan punished daughter for criticizing parents on Facebook

Hackers Want PayPal Users to Close Accounts

Anonymous tries a boycott instead of a hack this time

Hollywood Wants You for Its First 'Social Movie'

Crowdsourced thriller 'Inside' issues online casting call

Zuckerberg Woos New Hires With Walk in Woods

'Felt like I was on a date'

Woman's New Tattoo: 152 Facebook Friends

She posts video of the process

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?