eBay vs PayPal - Breaking Up Is Hard To Do | 5
Business Wars
Audible
4.6 • 13.5K Ratings
🗓️ 7 August 2018
⏱️ 27 minutes
🧾️ Download transcript
Summary
By late 2000, PayPal and X.com are yoked together, with X.com CEO Elon Musk leading the newly combined company. But it’s a rocky marriage: PayPal’s founders clash with their new leader over everything from his imperious management style to his choice of server platforms. Finally the PayPal loyalists decide there’s only one option left: it’s time to engineer a coup.
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Transcript
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| 0:00.0 | Hey, prime members, you can listen to business wars at free on Amazon music. |
| 0:04.8 | Download the app today. |
| 0:10.6 | It's October 2000. |
| 0:13.1 | Ten months after Elon Musk gets married, he finally sneaks in a belated honeymoon. |
| 0:18.7 | The ex.com CEO is taking his wife to Australia to catch the summer Olympics. |
| 0:25.0 | Ever the workaholic Musk also schedules fundraising meetings down under. |
| 0:29.8 | PayPal needs more money, even after the recent infusion. |
| 0:34.1 | It's paying $2.50 for every credit card transaction, but it loses another dollar to fraud on every |
| 0:40.8 | $100 in payments. |
| 0:43.1 | That's $10 million a month. |
| 0:46.8 | That kind of burn rate, the $100 million the company raised sure won't last long. |
| 0:52.6 | And more trouble is brewing at PayPal headquarters. |
| 0:57.1 | After reading an email from Musk, Levchin angrily sweeps a full soft drink can off his desk. |
| 1:03.0 | Hell no, no freaking way. |
| 1:05.9 | He high-tails it to read Hoffman's office and slams the door behind him. |
| 1:10.5 | You know what our idiotic overlord has just ordered? |
| 1:14.0 | Hoffman leans back against his desk. |
| 1:16.1 | I don't know. |
| 1:17.1 | What? |
| 1:18.1 | And did me to move our entire Unix network architecture to Microsoft? |
| 1:22.7 | Ouch. |
| 1:23.7 | For a Unix devotee like Levchin, that's sacrilege. |
... |
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