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Affirm CEO Max Levchin on why PayPal produced so many founders: "As we were interviewing certainly the early team and even the later team, we kept on selecting for entrepreneurs. One of the stock questions I would ask was, 'So what are you going to do after PayPal?'" "The...

57,864 次观看 • 26 天前 •via X (Twitter)

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David Sacks on what made the PayPal Mafia so successful The employees of PayPal went on to build many of the companies that defined Silicon Valley in the 2000s, such as Tesla, SpaceX, LinkedIn, YouTube, Palantir, Yelp, Yammer, and more. David Sacks—founding COO and product leader at PayPal—reflects on some of the factors that he believed contributed to their success: “I think one of the key things was that PayPal innovated not just on product, but on distribution as well.” He gives three examples of distribution strategies the PayPal Mafia brought with them to their next companies: 1. Virality. PayPal paid users $20 to refer their friends, which led to explosive growth. Virality was a huge factor in LinkedIn’s success. 2. Building on an existing network/platform. PayPal leveraged eBay’s power seller network, while LinkedIn leveraged their users’ network of email contacts. You want to “go where the users already are,” Sacks argues. 3. Embeds. PayPal let customers embed the logo on their websites and eBay auctions. YouTube employed this same strategy by making their videos easy to embed on Myspace and other websites. Sacks continues: “All of these techniques today are commonplace, but in the early 2000s, we were one of the first companies to do them… We were innovating not just on product but on distribution as well, and that is something that all of the PayPal Mafia companies have done.” He contrasts the ~220 employees pre-IPO PayPal employees producing 7+ unicorns versus only a handful from Google even though Google had 100x the number of employees. “It’s a really interesting question: Why?… I think this sort of scrappiness around distribution is a big part of the explanation… If you’re an entrepreneur working in a small team, you’ve got to figure out from zero: How do I get my first user? How do I get the second user? How does that go to one hundred, one thousand, one million?… [Google] never has to think about that. They’ve got guaranteed distribution of half a billion users. And so, I think that scrappiness around distribution is one of the key reasons that there’s been so many PayPal mafia companies. I think it’s an interesting thing to think about as you create your own startups.” Video source: Draper University (2014)

Startup Archive

61,169 次观看 • 1 年前

Pete Carroll explains how he responded in real time to the goal-line interception that ended the Seahawks’ Super Bowl “I asked them, 'how many guys think it's the greatest thing in the world to win the superbowl? Raise your hand.' A bunch of them raised their hand. Then I asked, 'how many think it's the greatest thing to come back and win it again?' They didn't know what to do with that..” “Show that you can do it again. Show that you’re real. Show that no matter what happens, you can still be you to the freaking moment.” “You guys were so mad at me. So pissed. Hurt. But that play just happened. It wasn’t by design. There was no foreshadowing. No intent. No agenda. That play just happened.” “We had one timeout. So as soon as we got to the goal line I'm saying, one of these plays, we’re going to have to throw it to get all four plays. I'm always trying to make sure we get all four shots.” “We run the first play, the Patriots were late and sent in the goal line team, we had already sent in '11', so we we're in '11' versus their goal line team. So that went through the play callers thought process. That's what led to throwing it on that down. If we gotta throw one of these downs, so we get all our chances...” “We had practiced it a million times. I was rock solid on the philosophy of it. It wasn’t by design. There was no agenda. It was just the way we had prepared. It was the worst play that could ever happen. It turned all of that so dark, so instantly.” “I thought, ‘I’ve got to take this.’ This is one of those moments that you prepare for. You’ve got to be the epitome of poise. Handle it. Deal with it. Own it.” “There’s nothing you can say that’s going to put it any other place. It was as catastrophic as any moment could be.”

Josh Chambers

411,740 次观看 • 2 个月前

🚨 🗣 Mikel Arteta on the decision to award Sunderland a penalty: "Look, the first question we have to discuss is that this is NOT ACCEPTABLE at this level. "It was a beautiful game of football, with two teams and an atmosphere in the stadium that was unbelievable, with Sunderland they are so organised; they are so good in so many phases, they have great players, they created a lot of issues we had to cope with. "We had to cope with all of that, it was a lot in a really difficult week after Chelsea and Napoli, and on top of that we have to go through what we've done today that in my opinion is NOT ACCEPTABLE. "I watched it 20 times, and I CANNOT find a way to understand how they even think to give a penalty in that situation, or the way the VAR has to intervene. "So I don't know what to think, but I'm SAD that we have to discuss in such a beautiful game something at this level that has the gravity of that, because that CHANGES the course of the season and can cost you the championship. "At this level, with all the work that we put in, this cannot happen. I cannot find an explanation - that's why I'm going to try and find an explanation now. "I want to be talking about how good we were, how good Sunderland were, and the level of the league and how beautiful this is - we should not be talking about that. "I cannot find an explanation - that's why I'm going to try and find an explanation now." 🗣️ On a very important victory: "I want to be talking about how good we were, how good Sunderland were, and the level of the league and how beautiful this is - we should not be talking about [refereeing decisions]." 🗣️ on whether the referee gave an explanation: No! (shakes head)

Connor Humm

129,720 次观看 • 16 天前

When Adam’s stock price dropped by 92% he borrowed money to buy back $6 billion in stock. That bet made the company more than $60 billion: “If no one's going to buy our shares why don't we just start buying our own shares? The company at the bottom was worth $3.8 billion. And we were generating over a billion dollars of EBITDA. Well in theory we could buy back 20% of the shares of the company just in the next year if we really believed in the path we were on. So we kicked that off. But we did it a little bit differently than what most companies do. Most companies go out and say I'm going to buy shares from the public markets and just take shares back. But you don't know who's on the other side of that trade. On the other hand we knew that we had a cap table where about 50% of the shares were going to sell at some point over the coming years. We had private equity investors that owned roughly 50% of the shares of the company alongside some other founders that were no longer there. So instead of going to the public we went to the shareholders that we knew were going to sell and got them to agree to sell back to us over time. And so for the following 18 months we ended up deploying around $6 billion of buybacks using our own capital and we leveraged some to buy back shares in the company. And over time that ended up creating somewhere in the neighborhood of $50 to $60 billion of actual proceeds from the buyback. It was one of the most successful buybacks in the history of companies.”

David Senra

154,426 次观看 • 3 个月前

When Adam’s stock price dropped by 92% he borrowed money to buy back $6 billion in stock. That bet made the company more than $60 billion: “If no one's going to buy our shares why don't we just start buying our own shares? The company at the bottom was worth $3.8 billion. And we were generating over a billion dollars of EBITDA. Well in theory we could buy back 20% of the shares of the company just in the next year if we really believed in the path we were on. So we kicked that off. But we did it a little bit differently than what most companies do. Most companies go out and say I'm going to buy shares from the public markets and just take shares back. But you don't know who's on the other side of that trade. On the other hand we knew that we had a cap table where about 50% of the shares were going to sell at some point over the coming years. We had private equity investors that owned roughly 50% of the shares of the company alongside some other founders that were no longer there. So instead of going to the public we went to the shareholders that we knew were going to sell and got them to agree to sell back to us over time. And so for the following 18 months we ended up deploying around $6 billion of buybacks using our own capital and we leveraged some to buy back shares in the company. And over time that ended up creating somewhere in the neighborhood of $50 to $60 billion of actual proceeds from the buyback. It was one of the most successful buybacks in the history of companies.”

David Senra

518,747 次观看 • 4 个月前

Don’t Scroll—God Is Calling You to Submit and Move Praise the Lord that He has given us such a commission and such a call and we should be humbled by that and we should want to go out for His kingdom and do that. All of you are usable by God. There is not one of you that is not usable if you're only willing to submit. We all fall short. It's a matter of who is willing. Here I am, Lord, send me. That's what Isaiah said. Here I am. Send me. You are all usable. When a lot of you out there go, well, what can I do for God in my life? There's a lot you can do. If you're only willing to be picked up as an instrument in his Hands and implemented the way you were created to move. Many of you are operating outside the realm of what you were created to be. And in this season, that's going to be reconciled. And many of you are going to change course in this season drastically. Because you're in jobs, you're in areas, you're doing things, you were not created to do. You have gifts for it, but you weren’t created to do it. And there's going to be massive shifts in many of your lives and a sudden turn. And the Lord is going to realign. And this is going to be quick when He does it. Realign you into the position, redirect you and put you on that course because time is short and He needs you operating in what you were created to do. He needs that right now. And many of you are going to enter that process in this season. So praise the Lord because you are. You will enter that process and you will be redirected. And you will do what is written about you in the books of heaven, what you were created to do on this earth. Because many of you know and feel uncomfortable and know you're not in your call. You know you are just trying to try to endure, you're trying to survive. And it's because you're not in your call. Surrender to God, allow Him to redirect you into your call and your purpose that you were beautifully created to do. Because it's needed in this season and we cannot dilly dally anymore and go dabbling in things we are not created to do. It's time for us to go to work and it's time for us to be willing to go there.

Amanda Grace

12,379 次观看 • 4 个月前