PayPal Wars : Battles with eBay, the Media, the Mafia, and the Rest of Planet Earth
From the Publisher
This is not your ordinary business book! With its unique combination of a fast-paced narrative 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. Along the way the startup's plucky entrepreneurs survived the dot-com bust and fended off a competitive assault by the auction giant eBay. But when hordes of government regulators, trial lawyers, and organized crime rings targeted PayPal for destruction, its quest to make Internet history turned into a desperate struggle for survival.
The PayPal Wars was honored by USA Book News as one of the top business books in its "Best Books 2004" awards. The Laissez Faire Book Club praised its suspenseful narrative, and Doug Bandow of the Cato Institute hailed it as "an inspiring story." Read The PayPal Wars for yourself and find out what all the talk is about.
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.