it did not have the real identity idea. >> you went on to the paypal mafia. how did that happen? led peter and he said we will sell paypal because we do not have a business model. it would be useful. could you help us come organize the company and help sell it? i know all you guys and i would be happy to step in. we ended up taking it public and selling it to ebay. what was supposed to be a six month tour of duty turned into a three year tour of duty. >> when did it start being called the mafia? >> i do not really know. it might have been with the fortune article. i am always a little hesitant about the term. mafia implies dark room, extortion, these kinds of things. it is clever and gets repeated and implies a dense network. i think it started six to 12 months after the ebay acquisition. >> linkedin, tesla, emr, and spacex. all founded i members of the paypal mafia. what did you have in common? >> paypal collected a bunch of people who are young and intense and entrepreneurial. and then all of a sudden a bunch of these folks are like ok. what do i do next? Élan goes and does tesl

he talks about the legendary paypal mafia. >> macroeconomic, financial, bold model, the intersection of interesting is this models or business technology, things like big data. >> more of my interview with reid hoffman coming up later on the first installment of studio 1.0. ♪

but he took his first job out of school at apple, and then joined the paypal mafia.

but he took his first job out of school at apple, and then joined the paypal mafia.artner at greylock, hoffman sits on seven boards. he is the author a new book, "the alliance."

but he took his first job out of school at apple, and then joined the paypal mafia.artner at greylock, hoffman sits on seven boards. he is the author a new book, "the alliance."

they are often called the paypal mafia. >> paypal collected a whole bunch of people who were young andntense and entrepreneurial themselves. so a bunch of these folks are like ok, what do i do next? chad and steve going to you to. -- youtube eva longoria to tesla and spacex. i do linkedin. -- steve goes to tesla. because we have this intense experience together, we still have a tight network. >> who do you call a lot? >> macro economics, bold archetypal call peter. the intersection of interesting business models were business technologies max. >> for a willingness to think super big with risk not a variable. >> you can see the entire interview today. another tech story, fast-moving restaurants going mobile. big mac on your phone, anyone? >> how it works is you open the app on the phone, but your big mac and fries and when you get to the restaurant you scan in your phone and they fire up your order at that point. it saves you time c do not have to speak with the cashier to order your food. >> because you want your fries piping hot, right? how does mcdonald's expect this to improve sales

in academia but took his first job out of school at apple than later joined the now legendary paypal mafiahe sits on seven words. -- seven boards.

he's in his first job out of apple and joined the legendary paypal mafia. he sits on seven boards.r of the

but he took his first job out of school at apple, and then joined the paypal mafia. at greylock, hoffman sits on seven boards. he is the author a new book, "the alliance."

called tim cook and he had experience dealing with carl icahn and he called some members of the paypal mafiaoften does that happen? >> it happens a lot. if you are at the top of the company come you can get advice for the people that work for you and advice from your board. most ceos are heat seekers for the best advice possible. you have to balance that with what you can talk about. something like carl icahn is a great example because it was very public it was no secret. we had a situation earlier this year on one of the boards i'm on and i reached out to meg whitman who gave me on believably great advice which was helpful. >> give me an example of a time -- an example you can share details on when you are in a crisis and you handled it either the right way or the wrong way. >> i have done both. one of the times at ebay that we were rolling out a new feature because we we knew better and it would change everybody, it forced everybody to it whether they wanted to go to it or not. it created an unbelievable amount of damage. we had to roll it back. we had to apologize and we stood firm for tw