When Peter Thiel and Max Levchin launched an online payment website in 1999, they hoped their service could improve the lives of millions around the globe. But when their start-up, PayPal, survived the dot.com crash only to find itself besieged by unimaginable challenges, that dream threatened to become a nightmare. PayPal's history - as told by former insider Eric Jackson - is an engrossing study of human struggle and perseverance against overwhelming odds. The entrepreneurs that Thiel and Levchin recruited to overhaul world currency markets first had to face some of the greatest trials ever thrown at a Silicon Valley company before they could make internet history. Business guru Tom Peters, author of In Search of Excellence, called the hardcover edition of The PayPal Wars a real page turner that featured what he called the best description of business strategy unfolding in a world changing at warp speed. The new paperback edition will feature updated material and even more insights on the state of internet commerce.
Notable libro que narra desde dentro y desde la propia vivencia del autor lo que fue el surgimiento de Paypal. Desde los primeros pasos, pasando por los múltiples desafíos que tuvo que enfrentar, hasta su adquisición por parte de ebay. En el relato se muestra como el equipo va evolucionando la idea original para lograr encontrar su espacio de negocio y sobrevivir e imponerse a actores consolidados y otras compañías que buscaban incursionar en ese espacio. Interesante es ver como la cultura organizacional del equipo original fue clave en lograr adaptarse y consolidarse en el mundo de los pagos electrónicos. Y como también esta cultura choca con la forma más corporativa de ebay, que después de intentar competir infructuosamente con PayPal, concreta su adquisición. Vale la pena leerlo, ya que aparte de lo interesante de la historia exitosa de innovación que muestra, tiene un relato entretenido, no habitual en este tipo de libros.
Eric Jackson's recounting of Paypal's early days may stand the test of time as one of the best accounts of high-growth startup life right around the time of the dotcom bust. As someone who got into that world right around the time, I found a lot of this book to ring true.
If you work in startups - or if you're simply curious about what it was really like to build a Silicon Valley company during those days - definitely pick this one up.
An entertaining description of the roller coast of practical decisions that an iconic company with lots of huge personalities experienced 20 years ago. One thing that comes our clearly is that Elon Musk has really been a generational talent when it comes to getting fabulously rich by losing prodigious amounts of other people’s money....
Cool story for those interested in payments and the start-up world, though the writing style got repetitive after a few chapters.
The epilogue makes an interesting argument - very true to a libertarian / fiscal conservative viewpoint and supported by the story of PayPal's experience immediately post-IPO - that Joseph Schumpeter's idea of creative destruction has now largely moved from being driven by competitive "market forces" to non-market forces such as capricious regulatory bodies, clueless headline-grabbing news writers, and litigious patent trolls.
worth a read. I got the impression that the author himself wasn't fully aware of the import of what he was doing ... pitches of mafia and other adventures never really materialize