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Musk was the CEO of the merged company for a few months, before being fired for incompetence by the board. Afterward, they renamed themselves "paypal." Musk w

Musk was the CEO of the merged company for a few months, before being fired for incompetence by the board. Afterward, they renamed themselves "paypal." Musk was rich enough to not have to sell his shares until the IPO, so he made a big payday. I think of Elon Musk as being that guy who goes on a winning streak playing "double or nothing" coin flips. Enough people are doing it in Silicon Valley that one of them was going to hit a run of several heads, and get rich.

panick21_ 4y ago
He was fired by the board because he had incredibly aggressive expansion plan for PayPal. While the board wanted to sell the company to eBay. Given what happened to eBay afterwards seems to me PayPal working by itself would have been far better for them in the long term. There was a shit-ton of money to be made, providing card terminals, cars, direct accounts and so so on. PayPal could have done a lot of things later done by things like ApplePay.