Demystifying the giant organization behind the Facebook Stabilization Coin team

Demystifying the giant organization behind the Facebook Stabilization Coin team

If you don't know the "PayPal Gangster", you won't know about Silicon Valley.

“PayPal Gangster” refers to the high success rate of a group of former PayPal employees who have re-started their business after leaving PayPal. Some of them have previously attended Stanford University or the University of Illinois at Urbana-Champaign, and some of them were in Illinois during college years. The School of Mathematics and Science, which they founded, includes Tesla Motors, LinkedIn, YouTube, SpaceX. Technology (SpaceX) Matterport, Yammer, Palantir Technologies, and more.

PayPal's predecessor was a merger of online remittance service Confinity and online banking, later renamed PayPal, and was acquired by eBay in 2002. Because the old PayPal employees did not adapt to the traditional corporate culture, only 12 of the original 50 employees stayed on eBay in the four years after the acquisition. However, these old employees are still in contact with business and social, and several people have set up several new companies together a few years after leaving. Because of the remarkable achievements of the former PayPal employees, they were called “PayPal Gangsters”, and they were more widely known as the cover of the gangsters who appeared on the gangsters and added the words.

The "heads" of the PayPal gang are founder and CEO Peter Thiel, "consultant" is chief technology officer Max Levchin, and other members include Tesla and SpaceX founder Yi Elon Musk, former chief operating officer David Sacks, YouTube founder Chen Shijun, lead founder Reid Hoffman, and former Facebook blockchain team David Marcus.

Demystifying the giant organization behind the Facebook Stabilization Coin team

In fact, the “PayPal Gang” has long been deployed in the blockchain and cryptocurrency industries:

Peter Tell has been bullish on Bitcoin and has repeatedly said that Bitcoin will be the future global currency and will even replace gold as a value storage alternative;

Elon Musk’s most optimistic cryptocurrency is the dog’s coin, and even his own Twitter identity has become the CEO of the dog’s coin;

David Sachs has repeatedly said that PayPal wanted to build a "new world currency" at the beginning of its creation, but it was later put on hold by eBay.

Now, the "PayPal Gang" hopes to rely on Facebook to continue its cryptocurrency dream, and this time, the task of leading the Facebook cryptocurrency project falls on the "gangster member" David Marcus.

David Marcus left PayPal in 2014 and joined Facebook. At first he was responsible for Facebook Messenger product development. With his extensive experience in the payment industry, this instant messaging application quickly achieved early profitability, with more than 1 billion users. Not only that, but David Marcus was also responsible for the development of an artificial intelligence assistant application called "M", which quickly caught the attention of Mark Zuckerberg.

In May 2018, Mark Zuckerberg appointed David Marcus to form a mysterious working group to explore how to make better use of blockchain technology on the Facebook platform. In order to complete this work, David Marcus thought of the "PayPal Gangster". He needed to form another "small gangster" on Facebook like Peter Tell. Now this new "PayPal Gang" has already seen The prototype is formed, and its members include:

1. Head of blockchain marketing: Christina Smedley, who was recruited by David Marcus to PayPal as vice president of global branding and communications, and then joined him to join Facebook Messenger. Christina Smedley previously worked as a public relations officer for Amazon and public relations giant Edelman, and solved the privacy and public relations crisis that had occurred before Facebook.

2. Legal Counsel: John Muller, who previously worked at PayPal and eBay for nearly two decades, will now follow David Marcus as General Counsel for Facebook;

3. Risk fraud leader: Tomer Barel, who has been involved in risk monitoring and fraud at PayPal and has more than 10 years of work experience.

4. Product expert: Meron Colbeci, who worked as a product manager with David Marcus at PayPal;

5, P2P payment: Nate Gonzalez, who was responsible for the core work of PayPal's global P2P payment department.

So far, the number of employees in the Facebook blockchain team has reached 50, one-fifth of which comes from PayPal, which is inextricably linked to the huge personal relationship of the “PayPal Gang” in Silicon Valley.

However, Facebook's current cryptocurrency goals still seem to be unclear. Although its long-term vision seems to be building a new "business platform model" that uses cryptocurrency to improve the efficiency of international capital transfers, there are many voices that do not think that this model will work as expected. Ok, because once people use Facebook cryptocurrency to consume, redeem, and get services at their chip provider, it becomes a traditional customer loyalty credit system, and it makes it difficult for the cryptocurrency to flow out of the system. Circulating in the closed loop.

But no matter what, Facebook cryptocurrency is still worth looking forward to, after all, its large user base will accelerate the development of the industry and the popularity of its applications. (Mars Finance)

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