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Famous Entrepreneurs

Reid Hoffman, an Internet Entrepreneur, Venture Capitalist & LinkedIn Cofounder

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Reid Hoffman

Reid Hoffman is an internet entrepreneur, venture capitalist and author. Reid Hoffman co-founded LinkedIn, used primarily for professional networking. Currently Reid is a partner at the venture capital firm Greylock Partners.

With a net worth of US$3.3 billion On the Forbes 2017 list of the world’s billionaires, Hoffman was ranked 630. His first paid job was at the age of 12 as an editor at the game company Chaosium. Hoffman’s name featured on the box of Chaosium’s RuneQuest role-playing game release Borderlands while he was still 14.

Reid Hoffman graduated from Stanford University in 1990, where he won both a Marshall Scholarship and a Dinkelspiel Award, with a B.S. in Symbolic Systems and Cognitive Science.

[su_quote cite=”Reid Hoffman “]When I graduated from Stanford my plan was to become a professor and public intellectual. That is not about quoting Kant. It’s about holding up a lens to society and asking ‘who are we?’ and ‘who should we be, as individuals and a society?’ But I realised academics write books that 50 or 60 people read and I wanted more impact.[/su_quote]

[su_heading size=”17″]Reid Hoffman at PayPal[/su_heading]

Hoffman was a member of the board of directors while he was still at SocialNet during the founding of PayPal. He left SocialNet in 2000 to join PayPal full-time as the company’s COO.

[su_quote cite=”Allan Blue, Early PayPal member”]PayPal had to scratch and claw for every advantage it had, and Reid became an expert at competing effectively in an extremely competitive environment.[/su_quote]

Hoffman was responsible for all external relationships for PayPal, including payments infrastructure , business development along with government  and legal matters. Hoffman’s boss at PayPal, Peter Thiel has said that Hoffman “was the firefighter-in-chief at PayPal. Though that diminishes his role because there were many, many fires.”

[su_heading size=”17″]Reid Hoffman as LinkedIn co-founder[/su_heading]

Reid Hoffman co-founded LinkedIn in December 2002 with two former colleagues from SocialNet. LinkedIn was launched as one of the first business-oriented online social networks. Peter Thiel and Keith Rabois, who were colleagues of Hoffman’s at PayPal, were early investors in LinkedIn.

For the first four years, Reid Hoffman was LinkedIn’s founding CEO before becoming chairman and president of products in February 2007. Thereafter, he became executive chairman in June 2009. Hoffman owns a stake worth an estimated $2.34 billion in the company. Hoffman, however, believes that many people still do not know how to use the services of LinkedIn and it is the responsibility of LinkedIn  to help them out. In an interview, Hoffman said that “you have to think proactively about how to use a tool that enables your ability to move in ways that you weren’t able to move before, and most of people are not very good at that”.

After Microsoft acquired LinkedIn on June 13, 2016 for $26.2 billion in cash, Hoffman became a Microsoft board member on March 14, 2017.

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Famous Entrepreneurs

Know Sam Altman, CEO of OpenAI and the former president of Y Combinator

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sam altman ceo of open ai

Sam Altman is a prominent American entrepreneur and investor, best known as the former President of Y Combinator, a startup accelerator and venture capital firm, and as the founder of OpenAI, a leading artificial intelligence research organization. Altman was born on April 22, 1985, in Chicago, Illinois, and grew up in St. Louis, Missouri.

Altman’s interest in technology started at an early age, and he taught himself to code while still in high school. He went on to study computer science at Stanford University, where he became involved in the startup scene and launched his first company, Loopt, a location-based social networking app, in 2005. Loopt quickly gained popularity and raised over $30 million in funding before being acquired by Green Dot Corporation in 2012.

After the acquisition, Altman joined the Green Dot team and worked as the company’s Chief Scientist for a year before leaving to start his next venture, a payments company called CardSpring. CardSpring was acquired by Twitter in 2014, and Altman joined Twitter as an executive for a short time before leaving to focus on his work at Y Combinator.

Altman became the President of Y Combinator in 2014, succeeding co-founder Paul Graham. Under his leadership, Y Combinator grew significantly and expanded its operations to include international locations in China and India. Altman also increased the size of the Y Combinator funding rounds and helped launch several successful startups, including Airbnb, Dropbox, and Reddit.

In 2015, Altman co-founded OpenAI with Elon Musk, Greg Brockman, Ilya Sutskever, John Schulman, and Wojciech Zaremba. OpenAI is a non-profit research organization focused on advancing artificial intelligence in a way that benefits humanity. The organization has made significant contributions to the field of AI, including developing the widely-used language model GPT-3.

In addition to his work at Y Combinator and OpenAI, Altman is also an active investor and advisor to several startups, including Airbnb, Stripe, and Reddit. He is known for his outspoken views on entrepreneurship, politics, and social issues, and has been featured in numerous publications and media outlets, including The New York Times, The Wall Street Journal, and CNBC.

Altman stepped down as President of Y Combinator in 2019 to focus on his work at OpenAI, where he currently serves as the CEO. Under his leadership, OpenAI has continued to make significant contributions to the field of AI, including developing cutting-edge models for natural language processing and computer vision. Altman is widely recognized as a leading figure in the tech industry and a champion of ethical AI development.

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Famous Entrepreneurs

Dave McClure, PayPal cofounder and 500 Startups founder

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Dave McClure

Dave McClure was born and brought up in West Virginia. He founded Aslan Computing, a technology consultancy in 1994 and sold the company to Servinet/Panurgy in 1998. Thereafter he worked as a tech consultant to Microsoft, Intel and other companies. When he was in PayPal, he worked in the capacity of director of marketing from 2001 to 2004. Subsequently, he launched and ran marketing for Simply Hired in 2005 and 2006. Along with David Sacks, Elon MuskReid HoffmanPeter ThielSteve Chen, Chad Hurley, Russel Simmons, Max Levchin, Premal Shah and others, he was a member of the ‘PayPal Mafia‘.

Once Dave left PayPal, he became an investor in several consumer Internet startup companies. During the summer of 2009, Dave was acting investment director for Facebook fbFund. fbFund was a joint venture incubator/accelerator with major venture capital firms Founders Fund and Accel Partners which provided early-stage capital to startups using Facebook Platform & Facebook Connect.

In 2010, Dave McClure founded 500 Startups. 500 Startups is an venture fund and seed accelerator founded which he founded along with Christine Tsai.

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Famous Entrepreneurs

David Sacks, PayPal Cofounder, Yammer founder and Internet Entrepreneur

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david sacks

David Sacks is an Internet entrepreneur and investor in several Internet Technology firms.  David Sacks was the founding COO and product leader of PayPal. Thus he was also a member of the so-called PayPal mafia. A term used to denote some twenty odd early members of PayPal. Other members of that “Mafia” were Elon MuskReid HoffmanPeter ThielSteve Chen, Chad Hurley, Russel Simmons, Max Levchin, Dave McClure and Premal Shah among others.

David is also one of those immigrant Entrepreneurs who made it big in the United States. After coming from South Africa, he graduated from Stanford University and University of Chicago law school. In college, David Sacks was the co-author with Peter Thiel – of the 1995 book The Diversity Myth: ‘Multiculturalism’ and the Politics of Intolerance at Stanford. Before joining PayPal, he worked at Mckinsey as a management consultant.

He was also the founder and CEO of Yammer. Yammer was acquired by Microsoft in 2012 for $1.2 billion. Yammer is a freemium enterprise social networking service used for private communication within organizations. In 2017, David Sacks co-founded blockchain startup ‘Harbor’ as an incubation of Craft Ventures.

David has made investments in Facebook, Uber, SpaceX, Palantir Technologies, Airbnb and Houzz.

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