@garius As a very casual observer, I’ve always seen the tale spun as Elon being the founder of PayPal, and that’s how he initially made his fortune. The whole Twitter saga has brought a lot to light!
@Richard_ogilvie a good question! certainly a good deal for them.
They'd have been diluted into B Stock when the merger happened, but if they hung onto them they'd have made an absolute KILLING still when eBay bought PayPal.
@jamieb he's absolutely critical to it's early days, no doubt.
But it gets skipped over that PayPal becomes PayPal DESPITE Musk, not because of him.
He profits from what it became, not what he was determined to make it into.
And if he'd not been couped, chances are PayPal would have been just another DotCom with a grand plan that failed when it stopped being able to raise funding.
@kylecordes both Musk's supporters and haters want him to be doing 4D chess.
Because we LIKE smart heroes/villians.
The reality is Musk is just grasping at ideas from his past that he still thinks are amazing, and is no longer surrounded by people who'll tell him he's wrong.
"Sneaky Backstabbing Bastards." He describes them as, but to his credit recognises he can't fight it and presents a public image it was a mutual decision.
Thiel becomes interim (and later permanent) CEO, orders the end of V2 and a focus on PayPal /22
Hopefully you can see the roots of this whole X pivot thing now. Musk has decided that the way to save Twitter and regain his genius status is to fall back on his unrealised vision from 1999.
Build "the world's financial nexus" as he described it then. /23
I think it's a TERRIBLE idea. The world's moved on. He's doing the tech equivalent of drunk-DMing his highschool girlfriend to tell her she's still hot.
But you can see the origins now. He thinks this is the genius idea that got away. And that this time nobody can coup him. /24
Anyway, hope that's useful context. None of what's going on is surprising if you lived through it or have studied it. You just have to get past the hagiography Silicon Valley creates around it's "great men"
If this was useful you can buy me a coffee here: ko-fi.com/garius /END
Historian. Strategy streamer. Tech/Transport Strategist. Editor of @lonrec. Orient fan. Made Neil Gaiman cry (in a good way). Business: business@longformist.co.uk