PayPal revelation: startups the tough like a “gangster”

cloud network hunting: PayPal since selling for $2002 in 1.5 billion to eBay, most of the key staff have quit working, PayPal and so as the history of silicon valley to create a most entrepreneurs group company, who is known as the PayPal Mafia, today let us a look at the startup of gang members to make the world wonderful story. From talking to island and CSDN, by hunting cloud network editor:

as early as 2002, when people leave the big company started on the path of entrepreneurship and obtained remarkable achievements in the near future. Which is the most worth thought-provoking is circle, and be applied by the PayPal Mafia streaming of due diligence. Therefore, PayPal creation in the history of silicon valley entrepreneurs group company, most of the famous Peter Thiel, Elon Musk, Steve Chen, Reid Hoffman, Jeremy Stoppelman (Yelp CEO) are among them.

so, PayPal feeding the strength, employees can have today’s really surprising. Conclusion has the following several points: PayPal six founders are crazy, there are four people in high school, which made the bomb, you know there are three from communist countries: China, Ukraine, Poland, the degree of this group of people alone.

s founder Peter Thiel’s leadership style is also having a unique style, during the period of PayPal, he adopted a completely open way, for all employees to see customer records, revenue stream, fraud losses, and capital spending data.

s chief operating officer David Sacks for PayPal set up “is not without necessary meeting” policy. In simple terms, he became a “meeting of the police”. Once found within the company the meeting, Sacks will attend for three minutes. If you feel worthless, he would immediately interrupt the meeting. In this kind of enterprise culture under the influence of PayPal greatly cut the number of managers.

s of their employees will not be a MBA, consultants, brotherhood, or athletes, because every college know the founder of the people all like to play basketball is an idiot, in other words, they are hiring are similar to themselves.

s they never hired professional recruitment or headhunting company to recruit employees, but take a virus recruitment patterns, use of network for recruiting employees. So they are members of the absorption is founder and have the entrepreneurial passion and wisdom.

s they never believe what a startup taboo, but the trial and error as a process of accumulation of experience. The more mistakes, are more likely to be close to success.

s stick to retain a visionary founder not to hire “professional managers” and make full use of the company’s marketing platform for their products.

s if you don’t want to let the company into a tailspin, don’t hire jumped from a big company. Because they usually like to do it all has to develop the inherent mode of, also used to make excuses excuse to try new things that he cannot work normally. They ran were probably just in order to obtain the interests and positions, you are not sure whether he can learn many things.

s if your team behind the scenes work done very enough, then you don’t need to worry about similar “if Microsoft also in this field, what should I do?” , or “if tencent went into the field, what should I do?” Such a question. Those funds will find plenty of large companies, to copy your product also is very difficult, because in a field of work to do far more complex than the surface.

s PayPal with the biggest difference is that Google, Google hopes to recruit, PhD, and PayPal for a doctorate in those who give up hope. This is two completely different temperament.

overall, PayPal’s corporate culture is not against the government, but the mainstream ideology.

I like to see Peter thayer, I mean look at himself, not his books or his speech. For me, the people as a whole, at the same time of anthomaniac, get his hot ideas efficiency is higher. When interviewed, he always appears very delicate, pure color t-shirts with dark background, minimalist style, a pair of academic elegance. He speak quickly, the tone is not high, the fluctuation is not big, but the logic is clear. His “delicate”, in his opinion, is silicon valley type of delicate, is different from the professional manager, investment manager, or the lawyer’s delicate. Today, as an investor, he still dressed for silicon valley have a saying: “the real engineer to wear a T-shirt and jeans, I can filter out wear a suit to the founder of the open meeting.”

this is in his set up PayPal “gang” logic. Dress is the first clue to be fond of, he find people, not only through the resume screening the best people, choosing instead to “together”. , once in a law firm in New York, there is no doubt a very capable men. They work together all day, but almost no communication between us. Out of the door, they are strangers. Many feel that it doesn’t matter friend relationship between employees, can create the profit is the most important. And Peter, felt the idea is stupid, because the person is the most valuable asset is time, and spend time with a group of people he didn’t like, is a very waste. In his view, want to have a group of friends, the elder brothers like do one thing each other’s identity, and friendship. This is a how of utopia, but, this is now known as the “godfather” really do it.

finding: in the form of a “same” “different”

how about PayPal help together, Peter, always like to say an example, the “four of six founder, has been in high school yourself bombs.” Can have a few, do their own bomb bomb in high school to do less, so that all together. In addition to the bomb, they have in common? Four of the six were born outside the United States, three came to the United States from a communist country, only one of them enjoyed an american-style happy childhood. But the man refused the invitation of the big Banks, and together they venture, salary is only a third of the big Banks, so from ordinary people, this person is not normal.

PayPal founding team are not normal? Or is it Peter tell to render out during their abnormal? Actually is not important, the it is important that he struggled to find the characteristics of these people, he in ensuring that everyone is unique, individual, rather than the managers can be replaced. Doing this there is a risk, but it is undeniable that will make your company more powerful.

you might ask, when all is so unique, so different, how do they communicate? Thayer says he is looking for is a kind of in the same way as different from others. Like everyone in silicon valley technology prick silk has a stereotype, they wore a sweater and jeans, they dress not care. But when you really observe carefully, you will find that they are very care about jumper or logo on the T-shirt. The Logo makes them more similar to “own”, and more different with outsiders. PayPal help outsiders look like an alien, in fact, it is the same prick silk. They all like science fiction, the coding bible (Cryptonomicon) is a must-read, like Star Wars (Star Wars) rather than Star Trek (Star Trek). Most importantly, they are obsessed with trying to create a kind of can be each person, not the government control of electronic currency. Thayer concluded that Google wants to hire Dr And Dr PayPal wants to hire dropout. They work day and night together, eating junk food, sleeping under the table. In the original business, they have discussed the cryonics as the welfare of employees.

avoid infighting trick

PayPal help absorb peers, but definitely not looking for someone to repeat, mean everyone is alone carry a banner. Company founder unavoidably task cross, start-up rapid iteration, hard to avoid lets each person’s work is not static, a task has a vacancy, one of the founders of the top immediately, but this may be messy, eventually cannot be held accountable, even may cause conflicts.

Peter at anfield when creating PayPal, one thing is very proud of yourself, that’s strict regulations, each person is responsible for only one thing. He did this purpose is just to simplify tasks, better management, but later he found that this is a more significant effect, that is to reduce the conflict. a lot of internal conflict is caused by the competition for the same position. Start-up phase job roles are often flow, so to reduce internal competition is particularly important. We usually think of external business ecological competition is too cruel start-ups fail. Each company itself is actually a ecological system, factional struggle makes the company difficult to resist the foreign attack. Internal conflicts like HIV/AIDS, the cause of death appears to be complications from pneumonia, the real reason was hard to know. PayPal help inside, there is no competition between them almost all of the effort to help. We only and help members go out to play, and even ignore the family, abandoned the world outside. Between them has trained outsiders to understand the sense of belonging.

Peter tell to think, founder of sectarian class organization must attach importance to its strong will make you sigh. Accenture consulting firm, value proper professional attitude, people come and go, do not pursue long-term emotional bonds. But good startup should be a little weaker than sect. Religious worship tend to be crazy and mistakenly believe some important concepts, and successful company, need a crazy but correctly believe that ignore the fact that some of the outside world. A startup is like sect, even the gang.

company culture is itself

once COO David sachs (David Sacks), PayPal was almost turned away, perhaps is because of his McKinsey stain. Thayer eventually decided to recruit him, is to find a different voice, let the team become more sharp, and won’t become slow because of too much the same. Sachs came in, he carries the McKinsey “stain” set up a new culture, he turns into a “police” meeting. at any time, any a meeting room, he walked past could walk in three minutes, three minutes if he thinks this is meaningless, he would immediately dissolve meeting. This mechanism ensures that more work “, “less manipulative” leadership “. he said: “in a company, how many people can you tube can not reflect your prestige, few people can stop you do you want to do something to reflect.” Vettel also have added to this: “within organisations disorders, tend to be for promotion work, rather than the work itself.”

, former executive vice President Mr Reid Hoffman (Reid Hoffman) and saks, like PayPal system. “The team is good at analysis, all people will say, ‘this is my idea, this is my point of view, but no one will say,’ in my experience. Experience is not in this company.”

Peter tell to value a company’s culture, he thinks that the culture of a company is the company itself. Find the right person, the continuation of culture, is always the core competence of a company. “Why in the 21st century employees should go to your company?” Every CEO face such a problem, because have the ability to seem to be no need to work for you, they can go to a big companies such as Google, famous and profitable. “You will be working with the smartest person in the world.” “Did you get the option in the future will be rich.” “You will have to solve the problem of human.” The answer to these are worse. every company seems to be the same picture in picture, but the best answer must be only belong to your company, which is why Peter tell to think he can’t provide the correct answer. There are two kinds of the answer is likely to attract employees, one is you want to do things, one is your team. If you attractive, and you can be clear, it can attract the people you want. Team’s partner, as said before, kind of guy.

throe brought by cultural conflict

the well-known musk often labelled by PayPal of no. 2, but in fact do not really belong to the gang. He is not a founder Peter at anfield or Max Lev jean (Max Levchin) recommendation, because he only to PayPal and online bank mergers. Although he has obvious characteristics of entrepreneurs, but because of the different and PayPal help, he is considered a poison of the organization.

shortly after the merger, tal resigned, musk became the new CEO. He started the company technical renovation, one thing is to give up a Unix platform, to transfer all development to the Microsoft platform. To outsiders, it’s no big deal, but to be loyal to the Unix platform Lev piano and his team, it’s a big deal. A holy war erupted, as a result, musk in flying to Australia on holiday received the dismissal letter, Peter tell to return. Musk until now still feel should not be dismissed. “Peter, Max and I on the concept is not consistent. This is not normal. Peter believes that reverse investment theory, considering a lot of artificial intelligence, the problem of singularity. For those who don’t catch a cold, I am quite human.”

it is not only a musk, any discord with PayPal culture would be in trouble. Many people who eventually leave or be fired. The melee in the end the company into a mess. Russians steal credit card information, customer complaint come flooding, because a high refund rate, mastercard threatened termination of cooperation. Peter, don’t understand what is a refund, this almost let PayPal to die. Perhaps this is the surface, the real reason as said earlier, internal struggle like HIV/AIDS, but the surface you died of lung infection. Fortunately, as all know, PayPal survive, the happy ending.


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