How much of their many successes is due to abilities versus timing? The period they invested their initial PayPal fortunes in was in the nasccent Web 2.0 era. They had the benefit of capital from the PayPal exit, plus an up to date understanding of modern web capabilities, plus the initial open source platforms and leverage, plus a great deal of learning about what didn't work in the .COM 1.0 bubble.<p>Plus intelligence, inventiveness and drive.
All of the conspiracy theories and hero-worshipping etc ignore the basic, boring reality of how these concentrations of power emerge: half the work is showing up.<p>There was a time that you had to beg and plead with people to take websites and the Internet seriously. Nobody wanted to show up. These guys showed up. The rest is history.
Is the world they have created better? Is this a photo of robber barons or liberators?<p>> By the late 19th century, the term was typically applied to businessmen who used exploitative practices to amass their wealth.[2] These practices included exerting control over natural resources, influencing high levels of government, paying subsistence wages, squashing competition by acquiring their competitors to create monopolies and raise prices, and schemes to sell stock at inflated prices to unsuspecting investors.<p>Wow this sounds so familiar.
The most stunning moment in my life was when I realised that in a world of ~7 billion souls a group of about 30 people could have such an oversized impact.<p>It is no joke to think how few people would need to be swapped around to reshape the face of the internet. Seeing things like this also makes me think that it is risky to attack successful people and companies.
I just finished reading "Brotopia: Breaking Up the Boys' Club of Silicon Valley" which has a whole section on the PayPal Mafia. I never realized how influential that group was to startup culture.
The Paypal mafia run paypal into the ground.<p>Peter Thiel was the only sane person on that boat, as soon as he was put at the helm he did the only sensible thing:<p>Clear the deck and offload the ship to a bigger fool. Not exactly an heroic move.<p>The whole genuflection towards the product of survivorship bias is very cringe. I still think that the SV intelligencia does this in order to cater to an audience who'd buy thier books and invite them on podcasts.<p>Because otherwise....man it's really not that different from the gym goers who'd offer thier wives in tribute to Arnold if they could.<p>At least those guys have some six pack that comes with their cult to show for.