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

i think most of them are pretty committed to what they are doing. >> some members of the paypal mafiare is a good argument for them to remain together. >> i think reed fundamentally believes in partnerships more than any of the original members of the paypal team or if you pulled the entire paypal x leadership team, 90% believe in spinning off the company. >> let's talk about square. amazon launching its own credit card reader. 1.75% if youit at start now. square is a full percentage point higher. >> that is a gimmick. even amazon put a finite limit on the time that pricing applies. merchants are smart and savvy and they know the prices will be higher than that. amazon has already disclosed the prices will be significantly higher. >> but still lower than square. ultimately. >> it's not clear what amazon's payment products entail. do you have to have a credit check? square doesn't. it's the only company that allows anybody to get instantly approved without a credit check. [indiscernible] as well as fast settlement of money. merchants care about how fast they get the money. square is th

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

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."