Elon Musk Universe's video: Elon Musk Opens up About Getting FIRED as Paypal CEO Paypal s Biggest Mistake 2008

Elon Musk talks about getting fired as Paypal CEO Whole Story:-PayPal wasn’t alone chasing this online gold. Competitors like Dotbank, PayMe and X.com touted similar service. X.com , headed by Elon Musk , broke the bank by gifting $20 per new user, often copying services and strategies of PayPal. PayPal raced headlong and X.com followed.Negative cash flow reached epic proposition for both PayPal and X.com. Thiel believed that, one to win would be the first to file for an IPO(Initial Public Offering).PayPal and X.com merged in March 2000, with Bill Harris leading the combined company, Musk becoming the chairman and Thiel was the chief financial officer. The two companies clashed, with X.com button-down culture running headlong into PayPals freewheeling environment. There was a heated argument between Thiel and Harris, eventually leading Thiel to quit the company. The combined company continued to bleed red, Musk arranged an emergency board meeting to replace Harris as CEO. Musk was named the new CEO and Thiel returned as chairman, with the board commanding the new management team to solve its cash flow problems. It’s didn’t just end there. Musk took steps to phase out the PayPal brand in favour of X.com, company surveys showed that the public had little appetite for X.com, since it reminiscent of the porn industry. Levchin gathered his former executive team together and led a PayPal revolt and took up a petition to the board to remove Musk or they would quit. The coup was successful, with board removing Musk as CEO — “That’s the problem with vacations” he later remarked appointing Thiel as interim CEO. Musk, later went on to bring forth Tesla Motors and SpaceX. I had 6,931 subs when publishing this video. Twitter: https://www.twitter.com/akautsav Facebook : https://www.facebook.com/Easy-and-free-104687894629890 Tesla's official website : https://www.tesla.com/ If you enjoyed the video, Please consider to Like and Subscribe for Content like this. All Music , Pictures, Videos and Sounds That Appear In This Video Are Owned By Their Respective Owners DISCLAIMER: You should not take any of this information as guidance for buying or selling any type of investment or security. I am not a financial advisor and anything that I say on this YouTube channel should not be seen as financial advice. I am only sharing my biased opinion based on personal experience. It is important to keep in mind that there are risks associated with investing in the stock market and that one can lose all of their investment. "Copyright Disclaimer, Under Section 107 of the Copyright Act 1976, allowance is made for 'fair use' for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use." Videos and Pictures from the Tesla, and other official Youtube channel were used for illustrative purpose, all copyrights belong to the respective owners, used here under Fair Use. - A few seconds from several other youtube videos have been used for illustrative and educational purposes. Please contact me if you'd like to be credited! Tags: elon musk,elon musk paypal,tesla ceo elon musk,spacex ceo elon mush,elon musk fired from paypal,elon musk fired tesla,elon musk,musk,elon,tesla,spacex,the boring company,business,jeff bezos,space,cars,bill gates,mark zuckerberg,millionaires,billionaires,motivational,motivation,elon musk motivation,elon musk motivational Thank you for watching !