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The other PayPal mafia: 20 women who helped build the payments giant

Published by Business Insider on Thu, 10 Jun 2021


<p><img src="https://static2.businessinsider.com/image/60c1062d3a37760018f01618-2400/GettyImages-1136632384.jpg" border="0" alt="GettyImages 1136632384" data-mce-source="Photo by Smith Collection/Gado/Getty Images" data-mce-caption="Facade with sign at headquarters of payment processing company Paypal in the Silicon Valley, San Jose, California, March 15, 2019."></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>The PayPal Mafia, with members like Elon Musk and Peter Thiel, has been well covered, but these 20 women also played a key role in the <a href="https://www.businessinsider.com/paypal-women-early-employees-tech-investors-fintech-payments-paypal-mafia-2021-6">payment giant's early years</a>.&nbsp;&nbsp;</li><li>SoFi is underwriting <a href="https://www.businessinsider.com/sofi-set-underwrite-chamath-palihapitiya-latest-biotech-spacs-2021-6">Chamath Palihapitiya's four new SPAC IPOs</a> in a bid to disrupt elite Wall Street firm's stranglehold on the business.&nbsp;</li><li>The case for why stablecoins are cryptocurrencies best bet for usurping <a href="https://www.businessinsider.com/stablecoins-could-start-replacing-traditional-money-within-a-few-years-2021-6">how we pay for things</a>.&nbsp;</li></ul><p><strong data-stringify-type="bold">You're invited:&nbsp;</strong>Join us and learn how to navigate the&nbsp;<a href="https://info.insider.com/master-your-money'utm_campaign=Master%20Your%20Money&amp;utm_source=email&amp;utm_content=EditorialNewsletter" target="_blank" rel="noopener noreferrer" data-stringify-link="https://info.insider.com/master-your-money'utm_campaign=Master%20Your%20Money&amp;utm_source=email&amp;utm_content=EditorialNewsletter" data-sk="tooltip_parent">complicated process of buying a home</a>&nbsp;in today's hot market on Tuesday, June 22 at 12 p.m. ETduring a free, hour-long virtual event presented by Fidelity.&nbsp;<a href="https://info.insider.com/master-your-money'utm_campaign=Master%20Your%20Money&amp;utm_source=email&amp;utm_content=EditorialNewsletter" target="_blank" rel="noopener noreferrer" data-stringify-link="https://info.insider.com/master-your-money'utm_campaign=Master%20Your%20Money&amp;utm_source=email&amp;utm_content=EditorialNewsletter" data-sk="tooltip_parent">Register here.</a></p><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the newsletter' Hate the newsletter' Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>.&nbsp;</p><hr><section><section><h3><a href="https://www.businessinsider.com/paypal-women-early-employees-tech-investors-fintech-payments-paypal-mafia-2021-6">PayPal's lineage isn't just men. These 20 women played key roles early, then went on to do big things at Ancestry, Google, and LinkedIn.</a></h3><p><a href="https://www.businessinsider.com/paypal-women-early-employees-tech-investors-fintech-payments-paypal-mafia-2021-6"><img src="https://static4.businessinsider.com/image/60be3cb093c6fa00195e57e3-2400/paypal mafia unknown female founders 4x3.png" border="0" alt="White PayPal logo with a female/Venus symbol replacing the " data-mce-source="PayPal; Samantha Lee/Insider"></a></p><p>The "PayPal Mafia" is one of the most influential clubs in Silicon Valleyand a group that has historically been male dominated. But women, too, played a key role at PayPal early on and went on to do big things.&nbsp;</p><p><a href="https://www.businessinsider.com/paypal-women-early-employees-tech-investors-fintech-payments-paypal-mafia-2021-6">Meet 20 women who held influential positions at PayPal in its early days.</a></p></section></section><hr><section><section><section><section><h3><a href="https://www.businessinsider.com/sofi-set-underwrite-chamath-palihapitiya-latest-biotech-spacs-2021-6">SoFi is underwriting Chamath Palihapitiya's 4 biotech SPAC IPOs as the fintech looks to compete with Wall Street's top investment banks</a></h3><p><a href="https://www.businessinsider.com/sofi-set-underwrite-chamath-palihapitiya-latest-biotech-spacs-2021-6"><img src="https://static2.businessinsider.com/image/5ffe1796fe7e140019f7e8ff-800/anthony noto.jpg" border="0" alt="Anthony Noto" data-mce-source="Asa Mathat for Vox Media. Used by permission." data-mce-caption="Anthony Noto"></a></p><p>SoFi will underwrite the IPO of Chamath Palihapitiya's new blank-check companies alongside bookrunner Morgan Stanley, as the fintech looks to break into a market dominated by top investment banks. <a href="https://www.businessinsider.com/sofi-set-underwrite-chamath-palihapitiya-latest-biotech-spacs-2021-6">More on that here.</a></p></section></section><section></section></section><section></section></section><section></section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><hr><section><h3><a href="https://www.businessinsider.com/stablecoins-could-start-replacing-traditional-money-within-a-few-years-2021-6">Forget bitcoin and other hyper volatile cryptocurrencies. For everyday transactions, the future of money is stablecoins.</a></h3><p><a href="https://www.businessinsider.com/stablecoins-could-start-replacing-traditional-money-within-a-few-years-2021-6"><img src="https://static3.businessinsider.com/image/60bfc547a7202d0018b8dcbb-2100/stablecoin cryptocurrency explainer 4x3.jpg" border="0" alt="A volatile Bitcoin chart line with a stable Stablecoin chart line below it on a light green background" data-mce-source="Samantha Lee/Insider"></a></p><p>Unlike cryptocurrencies such as bitcoin and ethereum, stablecoins have held steady in recent bouts of crypto sell-offsmaking them more reliable as a form of digitized money. <a href="https://www.businessinsider.com/stablecoins-could-start-replacing-traditional-money-within-a-few-years-2021-6">Here's what you need to know about stablecoins.</a></p></section><hr><section><section><h3><a href="https://www.businessinsider.com/morgan-stanley-shuffles-wealth-leadership-names-new-cmo-memo-2021-6">Morgan Stanley names new marketing chief and adds new wealth division leadership from E-Trade</a></h3><p><a href="https://www.businessinsider.com/morgan-stanley-shuffles-wealth-leadership-names-new-cmo-memo-2021-6"><img src="https://static1.businessinsider.com/image/60c12f34b50ed500185e3f75-2400/2016-06-13t000000z_1085755702_d1aetjsminab_rtrmadp_3_wealth-summit.jpg" border="0" alt="Andy Saperstein, the head of Morgan Stanley Wealth Management." data-mce-source="REUTERS/Brendan McDermid" data-mce-caption="Andy Saperstein, the head of Morgan Stanley Wealth Management."></a></p><p>Morgan Stanley has named new leaders in its wealth division as it integrates E-Trade. <a href="https://www.businessinsider.com/morgan-stanley-shuffles-wealth-leadership-names-new-cmo-memo-2021-6">Get the full rundown of new hires</a>.</p></section></section><hr><section><section><h3><a href="https://www.businessinsider.com/deutsche-bank-new-coheads-americas-equity-capital-markets-darsney-smolkin-2021-6">Deutsche Bank just promoted 2 new heads of its ECM business in the Americas, including a key leader in the bank's SPAC business</a></h3></section><section></section><p><a href="https://www.businessinsider.com/deutsche-bank-new-coheads-americas-equity-capital-markets-darsney-smolkin-2021-6"><img src="https://static5.businessinsider.com/image/60c13000b50ed500185e3f77-2400/2018-11-16t090859z_1740123110_rc1b642d7850_rtrmadp_3_europe-banking.jpg" border="0" alt="Christian Sewing" data-mce-source="Ralph Orlowski/REUTERS" data-mce-caption="Deutsche Bank CEO Christian Sewing speaks at the 28th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 16, 2018. REUTERS/Ralph Orlowski"></a></p><p>Ben Darsney and Justin Smolkin were named co-heads of equity capital markets in the Americas. <a href="https://www.businessinsider.com/deutsche-bank-new-coheads-americas-equity-capital-markets-darsney-smolkin-2021-6">Here's what we know about the hires</a>.</p><hr><section><h3><a href="https://www.businessinsider.com/jp-morgan-advisors-private-bank-hiring-wealth-management-2021-6">JPMorgan's private bank CEO wants to hire as many as 1,500 advisors. Here's the firm's plan to double head count in five years.</a></h3><p><a href="https://www.businessinsider.com/jp-morgan-advisors-private-bank-hiring-wealth-management-2021-6"><img src="https://static3.businessinsider.com/image/60bfa83a2feb6f00181ed966-2400/frame-dave-high-res-square.jpg" border="0" alt="david frame jp morgan" data-mce-source="JPMorgan" data-mce-caption="JP Morgan Private Bank CEO David Frame."></a></p><p>Private Bank CEO David Frame told Insider where and why the firm is pushing to expand. <a href="https://www.businessinsider.com/jp-morgan-advisors-private-bank-hiring-wealth-management-2021-6">Here's what he said</a>.</p><hr></section><p><strong>Odd lots:</strong></p></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section></section><section><section><section><section></section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><section><header id="SideTop-0-HeadComponentTitle" data-yaft-module="tdv2-applet-CommonHeader" data-reactid="3"></header><section><section><section><section><section><section><section><section><section></section><section></section><section></section><section></section><section><section><section><section><section><section><section><section><section><section><section><section></section></section><section><section><section><section><section><section><section><section><section><p><a href="https://www.businessinsider.com/list-top-lawyers-law-firms-cannabis-marijuana-deals-2021">Meet the top law firms putting together blockbuster cannabis deals worth billions (Insider)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-06-08/amazon-explores-replacing-jpmorgan-in-credit-card-partnership'sref=5xrDvJna">Amazon Explores Replacing JPMorgan in Credit-Card Tie-Up (Bloomberg)</a></p><p><a href="https://www.wsj.com/articles/green-junk-bonds-may-not-deliver-green-results-11623236581'mod=hp_lead_pos13">Green Junk Bonds May Not Deliver Green Results (WSJ)</a></p><p><a href="https://nypost.com/2021/06/08/proteges-of-bill-hwang-behind-epic-archegos-collapse-plan-new-fund/'campaign_id=4&amp;emc=edit_dk_20210609&amp;instance_id=32555&amp;nl=dealbook&amp;regi_id=110905846&amp;segment_id=60208&amp;te=1&amp;user_id=4cbce85b39b05a62487c63187ecd51cd">Protgs of Bill Hwang, behind epic Archegos collapse, plan new fund (NY Post)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-06-08/nomura-prime-brokerage-cuts-seen-sparing-little-in-u-s-europe'sref=5xrDvJna">Nomura Prime Brokerage Cuts to Spare Little in U.S., Europe (Bloomberg)</a></p><p><a href="https://www.nytimes.com/2021/06/08/technology/farewell-millennial-lifestyle-subsidy.html">Farewell, Millennial Lifestyle Subsidy (New York Times)</a></p><p><a href="https://www.bloomberg.com/news/articles/2021-06-09/credit-suisse-will-spin-off-hamza-lemssouguer-s-credit-fund'sref=5xrDvJna">Credit Suisse Scraps Plan to Back Trader's Fund Amid Crises (Bloomberg)</a></p><header><p><a href="https://www.fnlondon.com/articles/goldman-sachs-partner-brennan-set-for-exit-to-rothschild-20210609">Goldman Sachs partner Brennan set for exit to Rothschild (Financial News)</a></p><p data-trackable="header"><a href="https://www.ft.com/content/83dff8fc-14ac-4e67-a969-20b358c349e8">Gensler says SEC to review payment for order flow (FT)</a></p></header><p><a href="https://www.bloomberg.com/news/articles/2021-06-07/apollo-faces-canada-pension-review-showing-stain-outlasts-black'sref=5xrDvJna">Apollo Faces Canada Pension Review as Stain Outlasts Black (Bloomberg)</a></p></section></section></section></section><section></section></section></section></section></section><section></section></section><section></section><section></section></section></section></section></section></section></section></section></section></section></section><section></section></section><section></section></section></section></section></section></section><section></section></section></section></section></section><section></section></section></section><section></section></section></section></section><section></section></section></section></section></section></section><section></section></section></section><section></section></section></section></section></section><p><a href="https://www.businessinsider.com/top-finance-stories-of-the-day-for-june-10-2021-6#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/ultimate-cross-country-us-road-trip-every-state-2015-5">The shortest route for a road trip across the US to see 50 national landmarks</a></p>
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