a16z Podcast a16z Podcast: The (Definite) Optimism of Peter Thiel
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Oct 17, 2014 
Peter Thiel, a tech visionary and co-founder of PayPal, shares his insights on innovation and startup dynamics. He recounts the rollercoaster journey of PayPal amidst the dot-com crash and the lessons learned from the 'PayPal mafia.' Thiel discusses the potential dangers of a new tech bubble and the unorthodox view that government bonds may be riskier than tech stocks. Anecdotes, including a wild car ride with Elon Musk, illustrate the thrilling nature of groundbreaking ventures, while advocating for reconsidering nuclear power in the fight against climate change.
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PayPal's Pre-Bubble Funding Frenzy
- In March 2000, PayPal merged with Elon Musk's X.com with $15 million in the bank and a rapidly growing user base.
- Despite a high burn rate, they successfully raised $100 million before the dot-com market crashed.
Learning Company Building Realities
- PayPal taught its team that building a great company is hard yet possible, unlike companies that fail or succeed too easily.
- This nuanced understanding drives more ambitious entrepreneurship than the binary lessons of easy success or total failure.
Elon's Dangerous Car Crash
- Elon Musk crashed his million-dollar McLaren X1 sports car during a high-speed demo on Sand Hill Road.
- Both he and Peter Thiel were injured but survived without severe harm, illustrating Elon's risk-taking nature.