The PayPal Mafia: What is a Serial Entrepreneur?
The PayPal Mafia refers to a group of individuals who created multiple companies that created a frenzy of growth in the Silicon Valley. The entrepreneurs created PayPal before they set out to develop other multiple successful technology-based companies. These men are serial entrepreneurs or individuals who, “continuously come up with new ideas and starts new businesses. As opposed to a typical entrepreneur, who will often come up with an idea, start the company, and then see it through and play an important role in the day to day functioning of the new company, a serial entrepreneur will often come up with the idea and get things started, but then give responsibility to someone else and move on to a new idea and a new venture.”
To learn more about some of the individuals associated with the PayPal Mafia check out the following members and how their initial success led to other serial successes:
- Peter Thiel – aka the “don” of the PayPal Mafia – was the founder of PayPal. Investments in Facebook also helped to sky rocket his earnings. Thiel urges young people to skip school and create companies instead.
- Max Levchin – was the CTO for PayPal and continued with his success investing in Yelp, a company co-founded by Russel Simmons and Jeremy Stoppelman.
- David Sacks – was the COO for PayPal and later founded Yammer and Geni.
- Roelof Botha – was the CFO for PayPal and invested in Youtube, Facebook, Xoom and other profitable ventures.
- Steve Chen and Jawed Karim (engineers for PayPal), and Chad Hurley (web designer) – founded YouTube.
- Elon Musk – was forced out of PayPal but found success with Tesla Motors.
- Eric M. Jackson – wrote The PayPal Wars and became CEO of WND Books,
- Premal Shah – was a product manager at PayPal and later founded Kiva.org.
- Reid Hoffman – was an Executive VP with PayPal before later creating Linkedin.
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