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The PayPal Wars: Battles with Ebay, the Media, the Mafia, and the Rest of Planet Earth Paperback – July 18, 2023
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That improbable journey started in the shadow of Stanford University, when Thiel met Max Levchin, a Ukrainian engineer who recently moved to California. Years before anyone had heard of Bitcoin, the two set out to build an online payment service that could reduce government control over currency by empowering people around the globe. But after their startup, PayPal, survived the dot-com crash only to find itself besieged by an unimaginable series of challenges, that lofty dream threatened to become a nightmare.
Former insider Eric M. Jackson’s telling of PayPal’s origins is an eyewitness account to technology history, as well as an engrossing story of human struggle and perseverance against overwhelming odds. PayPal went from unknown startup to online powerhouse in just three years, but for the company's team it was not an easy journey. The entrepreneurs that joined together to overhaul world currency markets first had to face one of the greatest series of trials ever thrown at a startup before becoming part of Silicon Valley lore.
Jackson's lively, blow-by-blow account of PayPal's death-defying beginnings and ferocious battles offers a detailed perspective that only an eyewitness could provide. Read The PayPal Wars and you'll learn how:
- Elon Musk joined with Peter Thiel, and how the two future titans would soon square off to control the company.
- Organized crime attempted to ransack PayPal—but the company fought back.
- Government bureaucrats and regulators ferociously tried to shut down the upstart payments service.
"The modern business environment," Jackson concludes, "turned out to be more hostile than even our fiercest competitor." This somber warning—that regulators, lawyers, and lobbyists threaten to undermine American entrepreneurship—makes The PayPal Wars a timely read for every concerned citizen.
- Print length336 pages
- LanguageEnglish
- PublisherRepublic Book Publishers
- Publication dateJuly 18, 2023
- Dimensions6 x 0.7 x 9 inches
- ISBN-101645720837
- ISBN-13978-1645720836
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Review
—Tom Peters, author, In Search of Excellence
“It’s rare that a business book is a page turner, but The PayPal Wars is: I read the whole book on one cross-country flight.”
—David Henderson, Tech Central Station
“The PayPal Wars is the Liar’s Poker of the Internet era—a gripping, honest tale that captures the craziness and magic of Silicon Valley.”
—Jeff Giesea, Entrepreneur and executive coach
“When the history of our time is written, the dot-com boom will loom large, and 22nd-century historians will find no better evidence of the mad genius of the age than in Eric Jackson’s The PayPal Wars. It’s all here: bursts of creativity; scarifying IPOs, too much caffeine; the Russian mafia. Reading it you just hang on for dear life.”
--Brad Miner, senior editor of The Catholic Thing and former literary editor of National Review
“The genius of The PayPal Wars is more than it's being an interesting business story…We see entrepreneurship, government regulation, and the boom-and-bust business cycles in action, presented in a manner in which the author not only sees the immediate ‘small’ picture, but the larger picture at the same time.”
—William Anderson, Mises Institute
“Eric M. Jackson has a real winner…it’s an adventure story and a business case study in one! …The PayPal Wars is strongly recommended reading for anyone interested in Internet business, business in general, or who just wants a darned good book to read.”
—Steven D. Laib, IntellectualConservative.com
“The PayPal Wars is a fascinating tale about a rag-tag group of entrepreneurs who set out to change the world. Read this book and you’ll be amazed by PayPal’s death-defying origins and shocked by what they tell us about the business environment in America.”
—Prof. Michael New, The Catholic University of America
“The PayPal Wars offers an inspiring story of how dedicated entrepreneurs can both make a profit and advance the cause of liberty.”
—Doug Bandow, Cato Institute
“Reading The PayPal Wars is like watching the last two minutes of a championship football game that is tied 21-21—and then goes into sudden death overtime. It’s the rare business book that reads like a page-turning exciting novel. The PayPal Wars is hard to put down.”
—Skip McGrath, editor, “EBay Auction Seller’s News”
“Eric M. Jackson’s The PayPal Wars is an absorbing insider’s story about two Silicon Valley entrepreneurs…[who] launched an online payment Web site called PayPal. Every School of Business ought to put this book on its must reading list because it is ‘case history’ analysis at its best.”
—The Washington Times
“Jackson’s engaging narrative reads in turn like a spy novel, a business text, and an insider tell-all. One of PayPal’s earliest employees and savviest marketers, Jackson documents the full spate of challenges and obstacles faced by start-ups and entrepreneurs, and how visionaries often have to abandon big ideas to keep competitors at bay and to satisfy petty bureaucrats and politicians.”
—Radley Balko, Reason Magazine
“Incredible insider’s account.”
—USA Book News
“PayPal is chronicled as a young, energetic and innovative company, able to turn direction on a dime…eBay is portrayed as a more ponderous company, less likely to innovate…[The PayPal Wars] is intense from cover to cover, and you'll be less naive about the industry for having read it.”
—David Steiner, AuctionBytes
“This is a must-read for believers and non-believers alike in the dot-com mania. It captures the highs, lows, tensions and wins in one nail-biting narrative.”
—Lisa Romano, Silicon Valley angel investor
From the Back Cover
Winner, Business Book of the Year —Writers Notes Book Awards
"In his celebrated book, The PayPal Wars, Eric Jackson describes how... [PayPal] had to battle crotchety regulators, identity thieves, volatile markets, scrappy rivals and even scheming Mafiosi." —The Economist
"Kept me up all night reading... it's a real page turner" —Tom Peters, author, In Search of Excellence
"Jackson's engaging narrative reads in turn like a spy novel, a business text, and an insider tell-all..." —Reason Magazine
"The PayPal Wars is the Liar's Poker of the Internet era—a gripping, honest tale that captures the craziness and magic of Silicon Valley." —Jeff Giesea, entrepreneur & communications specialist
"It's rare that a business book is a page turner, but The PayPal Wars is. I read the whole book on one cross-country flight." —Tech Central Station
"Incredible insider's account." —USA Book News
"22nd-century historians will find no better evidence of the mad genius of the [dot-com] age than in Eric Jackson's The PayPal Wars... Reading it you just hang on for dear life." — Brad Miner, former literary editor, National Review
About the Author
Early in his career, Jackson was recruited by Peter Thiel to join the startup team at PayPal, where he oversaw product marketing and designed its revenue model. During Jackson's time at PayPal, the company grew to 25 million users, went public, and was acquired by eBay.
Currently, Jackson is the CEO of TransitNet, a fintech company that provides tools to assist with title verification for cryptocurrencies. Jackson previously served as the CEO of CapLinked, a venture-backed technology company that was dubbed the "go-to place for setting up and closing deals" by the Wall Street Journal. He also founded World Ahead Media, an independent media firm that he grew to profitability before it was acquired.
His book, The PayPal Wars, which chronicles the tumultuous origins of PayPal, won the Writers Notes Book Award and was hailed by Tom Peters as "the best description of business strategy unfolding in a world changing at warp speed."
A frequent commentator on technology and policy, Jackson has appeared on Bloomberg, CNN, Fox News, and MSNBC, and he has been quoted in publications ranging from The Economist to the New York Times.
Jackson has spoken at conferences around the world, including the World Knowledge Forum in Seoul, the Lang Di Fintech Conference in Shanghai, and the inaugural Reboot Conference in San Francisco. He also served as the featured speaker at events hosted by the Cato Institute, the Reason Foundation, the National Federation of Republican Assemblies, and the Catholic University of America.
Jackson graduated with honors from Stanford University. He lives in Los Angeles with his wife Stacey and their two daughters.
Product details
- Publisher : Republic Book Publishers; third edition (July 18, 2023)
- Language : English
- Paperback : 336 pages
- ISBN-10 : 1645720837
- ISBN-13 : 978-1645720836
- Item Weight : 1.09 pounds
- Dimensions : 6 x 0.7 x 9 inches
- Best Sellers Rank: #205,815 in Books (See Top 100 in Books)
- #342 in E-commerce Professional (Books)
- #401 in Company Business Profiles (Books)
- #1,345 in Entrepreneurship (Books)
- Customer Reviews:
About the author
Eric M. Jackson is a technology executive who played a critical role in building PayPal and subsequently created multiple software businesses.
Early in his career, Jackson was recruited to PayPal by Peter Thiel, and while there oversaw product marketing and implemented the company's revenue model. During his time at PayPal, the company grew to 25 million users, went public, and was acquired by eBay.
Since leaving PayPal, Jackson has founded venture-backed technology startups and served on the boards of multiple organizations.
Jackson has spoken at conferences around the world, including the World Knowledge Forum in Seoul, the Lang Di Fintech Conference in Shanghai, and the inaugural Reboot Conference in San Francisco. He's also served as the featured speaker at events hosted by the Cato Institute, the Reason Foundation, the National Federation of Republican Assemblies, and the Catholic University of America.
Jackson graduated with honors from Stanford University, where he was editor-in-chief of The Stanford Review. He lives in Los Angeles with his wife Stacey and their two daughters.
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Kudos to the initial Paypal team for their persistence and determination in overcoming all odds and rewriting history in the Silicon Valley circles. No wonder the Paypal Mafia has gone on to create more innovative startups and support a new breed of entrepreneurs ready to take on the world. The book delivers a key lesson in the words of Peter Thiel towards the end at the Paypal celebration party. Although I would not like to spoil it for future readers, the essential lesson is that the world encourages the spirit of entrepreneurism and likes to see risk takers come on out all front and deliver the unexpected. But at the same time it places a lot of hurdles in the path of an entrepreneur. It is up to the entrepreneur to chose whether to get knocked down by the hurdle or maneuver a way around it.
Paypal started out as a Confinity, an idea of transmitting information privately between palm pilots. Then they realized the main thing people want to transmit is financial information, so they basically changed the business model to focus on financial transactions between individuals through the Internet. Then they realized eBay hosted a huge demand for this service, so they diverted all of their resources towards the auction site. The fact that they nimbly and dramatically changed their strategy several times in response to new developments shows how many hard, undefined decisions exist in business, especially in the early stages.
In the Paypal saga, merging and buying companies takes on new drama and is as important to entrepreneurship as technological development. Like when wild beasts mate, X.com and eBay partnered with Paypal only after repeatedly mauling it. The companies battled for users, raced to add features, spied on each other, exhibiting a high rate of innovation in attempting to out-maneuver each other. Novel ideas to increase Paypal accounts included a bot that surfed eBay auctions and insisted on using paypal to pay.
The author emphasizes the importance of Thiel's grand, world changing, world domination vision. This vision kept people motivated, despite ultimately not being achieved and falling away as the focus. What fraction of companies start out as planning to change the world but then end up selling out? Well, at least paypal tried, and they succeeded in certain ways.
Top reviews from other countries
Big personalities in a book of character. The Paypal mafia will provide inspiration to generations of kids and this is the genesis of their story!