Google Mafia vs Paypal Mafia
With the newfound wealth from the Google’s stock options, it seems that ex-Googlers would like to follow the path of ex-Paypal employees, who are turning the IT industry upside down (source: NY Times).
However, the ex-Paypal team was much smaller than the current size of Google. So I don’t think every ex-Googler has learned what it takes to build a successful startup. It’s amazing when you look at the companies that the Paypal Mafia has founded in recent years. For example, YouTube, LinkedIn, Slide, Yelp, Geni, SpaceX and Kiva.org. Paypal is not the only successful story on the Internet. I wonder why their people can build up successful businesses in such a consistent way…I really want to know what they have learned in their venture and why almost everyone in their team has become serial entrepreneurs. We are not only talking about the founders of Paypal. Even their early employees have become great entrepreneurs now.
If you want to get some insights into Paypal’s early period, I highly recommend you to listen to this podcast by the founder of LinkedIn, Reid Hoffman, one of the early members in Paypal. I am really surprised when I know that none of the members in their team had experience in the banking or financial industries. Somehow, someway, they are able to create the online payment and transaction services that have changed the course of the Internet.
One of the reasons why their new ventures are so successful is because they are still super-connected after leaving Paypal. They will help each other using their own network, even though they are not working together anymore.
Recently, I have read an article written by a famous business writer in Hong Kong. He talked about one of the weaknesses of Chinese is envy and jealousy. People are always worry about others trying to steal their ideas. If China really wants to become an international powerhouse, their local companies should hire more people from around the world so that they can learn how to operate a business in the western world. Also, it would be great if someone can create similar business Mafias in China, Hong Kong or Taiwan. There are really no role models that young people can look up to at this moment.
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Hi, I'm Vincent Chan. I work on product, design and growth at startups. After one failed attempt, I'm still inspired to build a lasting company some day. This blog covers the lessons and failures that I've learned along the way.