Elon Musk's Paypal Merger Tactics Slammed By Former PayPal Executive: 'Now That We're Married, Let Me Tell You About The Herpes'

In a recent interview, Reid Hoffman, ex-COO of PayPal Inc PYPL, blasted Tesla and SpaceX CEO Elon Musk for his handling of a merger that led to the creation of PayPal.

Musk’s internet banking firm, X.com, merged with Confinity, a security software company co-founded by Peter Thiel, in 2000. The union of these two companies eventually brought about PayPal.

Hoffman accused Musk of pushing for the merger by highlighting the talents of X.com’s leading executive, only to later force out that executive and assume the top position himself, according to a recent New Yorker interview.

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“A merger like this, you’re doing a marriage,” Hoffman said in the interview. “And it’s, like, ‘I was lying to you intensely while we were dating. Now that we’re married, let me tell you about the herpes.'”

Hoffman, Thiel, and Musk were all part of the so-called “PayPal mafia”, a group of early PayPal employees who later established several major tech firms.

Musk held the CEO position at the new PayPal for a short duration, before being replaced by Thiel in September 2000.

Photo Courtesy: Shutterstock.com

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Posted In: FintechNewsMediaGeneralConfinityElon MuskPayPalReid HoffmanX.com
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