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#101: The Oracle of Silicon Valley, Reid Hoffman (Plus: Michael McCullough)

The Tim Ferriss Show

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How to Build a New Company on the Basis of a Banking License

In the paypal case for me a lot of that was um Uh building an understanding of what each particular uh problem Particular threat was. And then being able to solve that and then propagate that out to all of the places so you know, for example one of the kind of Challenges that Peter handed to me was We had thought that paypal might be a bank. Then we Discovered and decided upon inference is that actually in fact banking regulation is so fierce in terms of not Innovating not building new things. So I essentially had to move toUm To go persuade the regulators. It was okay that even though we had applied for a banking license Right That we it was okay that we were

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