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When PayPal launched its online payment service and set out to overhaul global currency markets it successfully weathered the dot-com bust and a fierce competitive struggle with the auction giant eBay. But hordes of government regulators, trial lawyers, and organized crime rings soon targeted PayPal for destruction, turning its quest to make Internet history into a desperate struggle for survival.
- Sales Rank: #241650 in Books
- Brand: Brand: World Ahead Publishing, Inc.
- Published on: 2004-09-21
- Original language: English
- Number of items: 1
- Dimensions: 1.28" h x 6.38" w x 9.28" l,
- Binding: Hardcover
- 360 pages
- Used Book in Good Condition
From the Publisher
Congratulations to "The PayPal Wars" by Eric M. Jackson, winner of the 2005 Writers Notes Book Award for best business book, winner of the 2005 DIY Book Award for non-fiction, and runner-up in the 2004 USA Book News' Best Book Award for business.
"The PayPal Wars" is not your ordinary business book! Tom Peters -- management guru and author of the classic "In Search of Excellence" -- said this book "kept me up all night reading" and declared it "the best description of 'business strategy' unfolding in a world changing at warp speed." It's been called "an absorbing insider's story" by the Washington Times and hailed for its "engaging narrative [that] reads like a spy novel" by Reason Magazine. With its fast-paced story and an unabashedly pro-capitalist message, "The PayPal Wars" is a gripping and intelligent read from cover to cover.
This candid insider's account shows firsthand how PayPal launched its online payment service and set out to revolutionize the world's currency markets. But when the startup's plucky entrepreneurs found themselves confronting eBay (their #1 source of customers!) as well as organized crime rings, money-grubbing lawyers, and even regulation-happy NY Attorney General Eliot Spitzer, the entire venture takes a turn for the worse.
Order "The PayPal Wars" today and learn how PayPal overcame these daunting obstacles to become the world's leading online payment service and eBay's fastest-growing business division.
From the Inside Flap
When Peter Thiel, a California hedge fund manager, and Max Levchin, a Ukrainian engineer, launched an online payment Web site in 1999, they hoped their service could improve the lives of millions of 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 dream threatened to become a nightmare.
Chronicled here for the first time, PayPal's history—as told by former insider Eric Jackson—is an engrossing story of human struggle and perseverance against overwhelming odds. PayPal went from unknown startup to online powerhouse in just two years, but for the company's employees it was not an easy journey. The entrepreneurs that Thiel and Levchin recruited to overhaul world currency markets first had to face one of the greatest series of trials ever thrown at a Silicon Valley company before becoming part of Internet lore.
Jackson's lively, blow-by-blow account of PayPal's death-defying beginnings and ferocious battles offers a detailed perspective that only an insider could provide. Read The PayPal Wars and you'll learn how:
• EBay unleashed a no-holds-barred effort to dislodge an unwelcome PayPal from its site.
• Organized crime attempted to ransack PayPal—but the company fought back.
• Turmoil pushed PayPal to the brink of insolvency before it turned its business around.
Faced with these daunting challenges, PayPal survived thanks to a unique corporate culture that empowered its talented employees to push the envelope. But an entrepreneurial environment and gifted people weren't enough to ward off every threat. "Our clashes with the credit card associations, the banking lobby, state regulators, foreign Mafioso, and litigation-happy lawyers significantly increased after our IPO," writes Jackson, adding that the public offering that was meant to strengthen PayPal with an infusion of cash ironically attracted a rogue's gallery of foes instead.
"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 businessman, investor, and concerned citizen.
About the Author
Eric M. Jackson directed PayPal's marketing operations and played an instrumental role in guiding the company to profitability. An accomplished writer, businessman, and co-winner of eBay's "Jeff Skoll Community Award," Jackson holds an economics degree from Stanford University and currently serves on the boards of several organizations. He lives in California with his wife.
Most helpful customer reviews
1 of 1 people found the following review helpful.
Great read but not sure whether it's a true account ...
By Greg
Item as described.
Great read but not sure whether it's a true account of events as they transpired.Author clearly has an axe to grind with Elon.Seems a little bit sycophantic and author must have been a periphery player.Also, as described by others, author clearly idol worships , Thiel.
Of all the members of the Paypal sream team,Elon appears to have faired better.He has since gone on to found SpaceX and is managing Tesla, envisioned Hyperloop etc.,He's also worth 5+billion.Thiel is worth 1.6billion.
I'd say the proof is in the pudding.Elon's contribution is most likely not accurately potrayed .They should probably have listened to Elin more!
0 of 0 people found the following review helpful.
An Excellent Tale of Entrepreneurship At Its Best
By Fardeen Rahaman
As the title of the book suggests, this is a first hand account showing what a rough ride the entrepreneurial & startup journey can be. With the never ending list of challenges from different segments to internal conflicts within the team itself, this is an excellent read for any determined entrepreneur to be mentally prepared on a road very few chose to travel. The incidents documented in this book show an outright example of the battle between David vs Goliath (Paypal vs Ebay). It is a true testimonial of how innovative thinking and delivering solutions based on what customers require can overcome any kind of manipulative or power whiplash from the competitor who is not prepared as what to expect next.
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.
0 of 0 people found the following review helpful.
Exciting story of adaptation and maneuvering
By Nancyhua
Reading this exciting account of a startup's life demonstrates the dynamism present in entrepreneurship. In many paths of life, discrete and known decision points appear in which people choose between several specific options- which college to attend, which major to choose, which company to intern with, which offer to accept. In running paypal, the degree of strategy the leaders show in making choices takes 'thinking outside the box' to a new level.
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.
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