
Peter Thiel: From Frankfurt to the World of Global Markets - faramarz
http://www.atrader.com/manager-profile/11-peter-thiel-frankfurt-world-global-markets
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faramarz
This was a great read..

    
    
      "At one point, PayPal had enough funding to survive only another two months
      while still losing around $10 Million a month. Shortly after, because
      of what was then the dot-com zenith, Thiel tried to raise money for PayPal,
      then valued at around $500 Million by VC’s even though losing money at
      a rapid rate. Nasdaq had just broken its own record, hitting 5,048, 
      and the majority of investors thought the dot-com phenomenon would last
      forever. 
    
      Peter, however, privately disagreed, believing that the dot-com era was 
      going to crash spectacularly very soon. He already realized what the
      market came to know shortly thereafter: There was very little substance to the
      majority of dot-com “superstars.” Nonetheless, he capitalized on the
      opportunity presented to him, raising $100 Million to fund these hard times
      for PayPal, closing this large deal in only three weeks. The closing was
      March 31, 2000. This was critical as the very next day, the Nasdaq began
      its famous freefall, crumbling by 67% in less than 18 months! Had he
      not worked feverishly to locate an interested VC and jumped through
      numerous obstacles to close the deal so quickly, PayPal would most
      certainly not exist today."

