Jimmy Soni
The Founders
The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley
Simon & Schuster, 2022
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PayPal fired Elon Musk as CEO and went on to dominate online payments under other talented leaders in Silicon Valley.
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The history of PayPal tracks the ebb and flow of several famous Silicon Valley entrepreneurs, from Elon Musk to Peter Thiel. Musk became a major shareholder of PayPal but the company fired him as CEO in 2000. He remained a big stakes shareholder, but his firing ended Musk's efforts to turn PayPal into a supermarket of financial services, including loans and deposits as well as online payments. Other Silicon Valley leaders, including Max Levchin and Thiel, refocused PayPal on fighting fraud and handling more transactions on eBay, which bought PayPal in 2002 for $1.4 billion. Musk received payment of $100 million, which he used to start SpaceX. In 2015, eBay sold PayPal in 2015 and its saga continues.
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About the Author
Jimmy Soni also co-authored with Rob Goodman A Mind at Play: How Claude Shannon Invented the Information Age, which received the 2017 Neumann Prize.
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