the group created by Elon Musk or Peter Thiel

Elon Musk is about to buy Twitter. Connoisseurs of his figure already know that before Tesla and SpaceX Musk made his initial fortune from Zip2, a company he founded with his brother Kimbal that was sort of Yellow Pages from the pre-bubble era dot comand, later, with PayPal, a reference name where he coincided with Peter Thiel.

However, Musk’s name has now gained popularity with many people who were not related to the tech sphere, which has made his life re-look in a thousand ways. In this context, the name of the nominee PayPal Mafia resurfaced.

What is ‘PayPal Mafia’ Beyond a Catchy Name

As PayPal Mafia is known from a photo published by the magazine fortune in 2007, where much of PayPal’s executive leadership emerged, where those who would later become CEOs and directors of other successful tech companies would come from.

The picture of fortune

The name of Mafia in Spanish it has the connotations it has, but in the United States it can be assumed to be something more like gang or band. But, that avoids that the cover of the magazine does not aim to mark that this group was at the time destined to control Silicon Valley.

Who’s Who in the PayPal Mafia

Item was browsing with names godparents each of them. The first is Peter Thiel. According to the article, the Don, who has become one of the Bay Area’s best-known investors. He co-founded Palantir, was the first investor in Facebook. Thiel is also a controversial figure, no doubt being an outspoken donor and supporter of Trump.

also appeared in the photo Max Levichin. Known as the consigliereone of the people who promoted several anti-fraud systems known today, such as the early versions of the Captcha test.

also appeared in the photo Karim to the jaw: one of the co-founders of Youtube. The first well-known video in YouTube history was of Karim at the zoo. Steve Chen or Chad Hurley also appear, the other co-founders of YouTube.

Jeremy Stoppelman and Russell Simmonsco-founders of Yelp, or Reid Hoffman, co-founder of LinkedIn and also an investor in Facebook, Flickr, and member of the Microsoft Board since 2017.

And of course in this gang it’s Elon Musk, but also Yishan Wong, who was CEO of Reddit from late 2011 to 2014 and who during the Twitter purchase process issued a notice against Musk stopping his intention to push the freedom of expression on the social network. I mean what happened.

Mafia or concentration of talents

What made this group the most relevant investors and technology entrepreneurs, no one knows. But beyond the mafia connotations, it may just have been an unprecedented concentration of talent and money.

It was Peter Thiel, Max Levchin and Luke Nosek who launched PayPal in 1998. The company was originally called Confinity to focus on the world of digital payments.

In March 2000, Confinity merged with a fintech startup called X.com and changed its name. This bank was founded by none other than Elon Musk, who was promoted to CEO.

Over time, some bad tendencies that had crept into the company were recalled. To begin with, there was no woman in this photo. And, in addition, a certain consanguinity has been created around Stanford University. As if that wasn’t enough, they say they didn’t admit anyone who played basketball for some sort of personal bet.

In 2001, the company had 10.2 million users. In February 2002, four years after the initial idea and just months after changing its name to PayPal, the company successfully went public, going from $13 to a closing value of $20.

In July 2002, Ebay acquired PayPal for $1.5 billion. Everyone who was part of the company was millionaires.