

The PayPal Wars and its Lessons for Today's Entrepreneurs - tdedecko
http://www.sachinrekhi.com/blog/2010/01/11/the-paypal-wars-and-its-lessons-for-todays-entrepreneurs

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dennykmiu
I believe PayPal is the Fairchild Semiconductors of its time and likewise will
be recognized for the quality and subsequent success of its key founding
employees. I agree that the ability to recruit and build a strong founding
team is the most important life-and-death contribution that a Founder/CEO can
made to a startup. My own experience is that in startups, it is all about
trust and trust is in fact a far more important currency than even money. But
trust in a startup has a different meaning than trust in everyday life. By
trust, I am talking about trusting a person’s judgment and their abilities. So
after you recruit them, you need to build them into a cohesive team by
developing a trust among them so that when someone agrees to a schedule or
proposes a budget, they are in fact doing so knowing what they are capable of
delivering and understanding the consequence if they don’t. They clearly have
done that at PayPal and done it well. Excellent article, a good read.

