The "Paypal Mafia" is a group of entrepreneurs and investors who have been involved with the company PayPal, and have gone on to achieve significant success in the technology industry. The group is called the "mafia" because of the close-knit relationships and collaborations between its members.
PayPal was founded in 1998 by a group of entrepreneurs, including Peter Thiel, Elon Musk, and Max Levchin. The company quickly gained traction as a way to make online payments, and was acquired by eBay in 2002 for $1.5 billion. After the acquisition, many of the key employees at PayPal went on to start their own companies or make significant investments in other technology companies.
One of the most successful members of the Paypal mafia is Peter Thiel, who was the first outside investor in Facebook and also founded Clarium Capital, Palantir Technologies and Mithril Capital. He is also known for his philanthropy, particularly for his support for education and innovation. He has also been a vocal advocate for libertarian and conservative political positions.
Another notable member of the Paypal mafia is Elon Musk, who went on to found SpaceX, Tesla, Neuralink and The Boring Company. Musk is known for his ambitious projects such as colonizing Mars, developing electric cars, and creating a high-speed transportation system called the Hyperloop.
Other members of the Paypal mafia include Reid Hoffman, who co-founded LinkedIn and is a partner at Greylock Partners; Jeremy Stoppelman and Russel Simmons, who founded Yelp; David Sacks, who founded Yammer and Zenefits; and Keith Rabois, who was COO at Square.
The Paypal mafia also includes a number of successful venture capitalists, including Keith Rabois, who is a partner at Khosla Ventures, and Roelof Botha, who is a partner at Sequoia Capital.
The Paypal Mafia is not just notable for the success of its individual members, but also for the way in which its members have continued to collaborate and support one another. Many members of the group have invested in each other's companies, and they have also been involved in a number of philanthropic and social impact initiatives together.
The Paypal Mafia serves as an inspiration for many entrepreneurs and investors, and their story illustrates the power of networks, collaboration, and mentorship in achieving success in the technology industry. The Paypal Mafia members have been an important part of the Silicon Valley ecosystem, and their companies and ventures have had a significant impact on the technology industry and the economy at large.