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Crypto scammers posing as real brands on X are easily hacking YouTubers

For months, popular fighting game YouTubers have been under attack. Even the seemingly most cautious among them have been duped by sophisticated phishing attacks that hack their accounts to push cryptocurrency scams by convincingly appearing to offer legitimate sponsorships from established brands.

These scams often start with bad actors seemingly taking over verified accounts on X (formerly Twitter) with substantial followings and then using them to impersonate marketing managers at real brands who can be easily found on LinkedIn.

The fake X accounts go to great lengths to appear legitimate. They link to brands' actual websites and populate feeds with histories seemingly spanning decades by re-posting brands' authentic posts.

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LinkedIn cofounder Reid Hoffman says work-life balance isn't possible in the startup game

18 December 2024 at 09:46
LinkedIn founder Reid Hoffman
Reid Hoffman says to rethink work-life balance if you're working at a startup.

Frederic J. Brown / AFP via Getty Images

  • Reid Hoffman discussed on "Diary of a CEO" the lack of work-life balance in startup culture.
  • He said startups needed to be intense and competitive to achieve success.
  • Sacrifices that come with startup work include dinner at the office and working on the weekends.

Reid Hoffman got real about the lack of work-life balance when you're trying to build a company.

The LinkedIn cofounder said during an episode of the "Diary of a CEO" podcast thatΒ startup employeesΒ shouldn't expect that if they want their business to take off.

"Work-life balance is not the startup game," Hoffman said.

Before it became a large platform for professionals, LinkedIn was a startup. Hoffman said early employees with families were allowed to spend time at home β€” with the expectation that they'd also be getting work done.

"The people who think it's toxic don't understand the toughness of the startup game, and they're just wrong," Hoffman said.

The nature of building budding companies is intense, he said, and that intensity is necessary at any startup if its workers want it to be a success. That often means working on Saturday mornings and sacrificing time for a personal life.

"We served dinner at the office at PayPal, and that was a deliberate thing," Hoffman, who was a part of the company during its early days, said.

@steven

Co-founder of LinkedIn Reid Hoffman gives his opinion on work-life balance and why he doesn’t agree with it when you’re building a start-up πŸ‘€ #podcast #podcastclips #work #company #business #founder #linkedin #truth #reidhoffman #startup #businesstok #interview #diaryofaceo #opinion #entrepreneur

♬ original sound - Steven Bartlett

He added that there were only two instances when startup employees could balance their lives and work more evenly: a supersmall startup that doesn't have much competition or a startup where employees have worked hard enough to outpace competitors by a long distance.

Recently, business leaders such as Airbnb CEO Brian Chesky have popularized the term "founder mode" to describe being a present and detail-oriented leader. Chesky previously said that founders go wrong by letting go of their product and delegating tasks instead of getting into the details of their company.

Startup culture may sound toxic, but it's a choice, Hoffman said. He compared it to training to become an elite athlete β€” swimming only two hours a day probably won't lead you to an Olympic team.

"Choose what your life's about," he said. "No one says you have to do that."

Read the original article on Business Insider

Reid Hoffman said he's had to hire security since Elon Musk fueled a baseless conspiracy theory about him

16 December 2024 at 05:25
reid hoffman
Elon Musk has made an unsubstantiated claim that Reid Hoffman was a client of the sex offender Jeffrey Epstein.

Kimberly White/Getty Images

  • Reid Hoffman said he'd faced threats after Elon Musk fueled a baseless conspiracy theory about him.
  • Musk has amplified claims that the LinkedIn cofounder was a client of Jeffrey Epstein.
  • Hoffman said he regretted his past association with Epstein and had hired security after threats.

Reid Hoffman, a cofounder of LinkedIn, said he had received threats of violence β€” and had to hire security β€” since Elon Musk fueled a baseless conspiracy theory about him.

Musk, the Tesla CEO who worked with Hoffman at PayPal, replied earlier this month to an X post in which a user implied Hoffman had visited the sex offender Jeffrey Epstein's private island.

He replied with the "100" emoji to a post saying: "This guy is TERRIFIED about Trump releasing the Epstein Client list after all his visits to Epstein Island."

Musk also made the claim during an October interview with the former Fox News anchor Tucker Carlson, in which he said Hoffman was among the "billionaires behind Kamala" who were "terrified" by the prospect of Epstein's client list being made public.

Speaking with the British newspaper The Sunday Times, Hoffman said Musk had developed a "conviction with no evidence" that he had a close relationship with Epstein.

"Elon's defamation makes me angry and sad," he said. "Angry because it is an ugly assault. Sad because it comes from someone whose entrepreneurial achievements I continue to admire."

He added that he didn't want to "dignify" the threats he had received by sharing any details but said, "I've hired security staff as a result."

After Epstein's suicide in jail in 2019, Hoffman apologized for inviting him to a dinner party in 2015 with other tech tycoons β€” including Musk, Facebook CEO Mark Zuckerberg, and Palantir's cofounder Peter Thiel β€” while fundraising for MIT's renowned Media Lab.

Hoffman said he was told Epstein's involvement in raising donations had been vetted and approved by MIT. But he later wrote in an email to Axios that he regretted not conducting his own research into Epstein, who died while awaiting trial on sex-trafficking charges.

"My last interaction with Epstein was in 2015," Hoffman said in the email. "Still, by agreeing to participate in any fundraising activity where Epstein was present, I helped to repair his reputation and perpetuate injustice. For this, I am deeply regretful."

He told The Sunday Times that he "went to no Epstein parties" and that he "didn't even know who he was."

Hoffman is a major Democratic donor who used X to voice his support for Vice President Kamala Harris in the presidential election. "My message for American voters and Russian bots: don't vote for the guy too busy selling you a scamcoin," he wrote in a post on X on Election Day. Donald Trump, then the Republican presidential nominee, launched his own crypto coin, World Liberty Financial's wlfi, in October.

Musk has become a close ally of Trump, having been tasked with leading a new advisory committee, the Department of Government Efficiency, alongside the pharmaceutical entrepreneur Vivek Ramaswamy.

Musk did not immediately respond to a request for comment.

Read the original article on Business Insider

A 5-step end-of-year networking checklist to keep connections warm as you head into 2025

13 December 2024 at 02:05
A collage of a woman networking, writing cards, LinkedIn logo on red background.
Β 

LinkedIn; Getty Images; Chelsea Jia Feng/BI

  • Susie Moore, a life coach, moved to NYC and landed a tech job by leveraging mutual connections.
  • Networking to set yourself up for a future opportunity is especially effective during the holidays.
  • She suggests setting intentions, creating ping lists, and attending events to expand your network.

When I was 25, I moved to New York City from Sydney without friends, career prospects, or a college degree. Despite being what some might call unprepared, I knew I would land a job because I excel at connecting with people and taking initiative.

Within two months, I started working for a tech company because I leveraged a mutual connection, an industry peer in Australia whose company had an NYC office. I asked for an introduction to her US team, and she gave me one. A single warm email connection was all it took to get me in the door.

a woman in a black dress stands on a Tokyo street
Moore in Tokyo.

Courtesy of Susie Moore

Networking is simply building relationships by being proactive, and it doesn't have to be a cringe-worthy chore. It can be fun, graceful, and extremely rewarding, and the holiday season is the perfect time to do it. There's an undeniable "holiday glow" to people in December.

Now, as a life coach of over 10 years, I encourage my community to expand and nurture their networks no matter their career choices or future goals. If you want to step up your networking game as 2025 fast approaches, here's a checklist to seize the season before the year ends.

1. Set an intention

What do you want your networking efforts to accomplish? Are you seeking a new position in the new year? Do you want to attract new clients to your business? Do you want to kick off a side hustle? Or do you simply want to strengthen your network for the future?

A measurable goal is ideal, but networking is valuable even without a specific goal. A mentor of mine once told me she has a spreadsheet of 50 people she emails casually every quarter for no reason but to say hello and keep the relationship alive. So few people do this!

We let so many relationships go to waste because we make too little effort, so those who keep in touch win because we stand out and are top of mind when opportunities roll around β€” and they do. My connections have brought me investment opportunities, speaking engagements, and book deals.

2. Get into the holiday spirit

The season of goodwill is a great time to reach out and express gratitude. Most people are reflective and slow down a bit this time of year, so it's the ideal time to send a short gratitude note, text, or DM like this:

"Thanks for your help with X project this year β€” it meant a lot. Wishing you the best holiday break and start to 2025!"

"I'm lucky to have worked with you this year, and I hope the new job at X is going great! Hi to (spouse name)."

"I just found the coolest candle shop/whisky tasting/tennis memorabilia site (insert picture/link of the thing the person likes). Happy holidays to you!"

Sincere, short, sweet, personal messages go a long way in letting people know how they've encouraged, inspired, or helped you β€” or even that you're just thinking of them.

3. Create a custom ping list

Success can come down to volume and some experimentation. It's easier to start with people you know, but you can also include some people you'd like to know β€” for example, I might include 5-10 people I admire with mutual connections.

When I moved to NYC, I looked up connections of my friends on LinkedIn and used that as a way to introduce myself:

"Hi name! You and I are both friends with the lovely (friend's name).

I've just moved to NYC and this city is just beautiful in December. Perhaps we could have a latte if you have 20 minutes free next week? It would be great to share some industry information and connect. I'll gladly come to (part of the city where that person lives/works).

Happy holidays!"

Aim to reach at least 30 people before year-end based on your intention. These can be former coworkers, members of your running or book club, friends of friends, or anyone you'd like to know better.

Not everyone will respond to you, but the right people will. A few Decembers ago, I met up with a fellow entrepreneur who had recently moved to Florida. We've enjoyed more than one business collaboration since, and she's also become a client of mine.

4. Get out there

December is a social season. I've made many connections at apartment lobby parties, holiday celebrations, and New Year's Eve gatherings.

If you're more introverted, be selective about what you attend β€” just keep returning to your intention (a tech mixer might be worthwhile, for example, but drinks at your next-door neighbor's place may not). Generally, it's worth showing up if you feel on the fence about an invitation. A little face-time goes a long way in nurturing connections.

People are also less busy around the holidays than you think, particularly during the last two weeks of December when schedules slow down. This can be a great time to suggest meeting for coffee, a cocktail, or even a walk. This can also mean a lot to folks in an age of increasing isolation.

5. Underthink it β€” do it now

The reach-out part is fast. Attacking your ping list doesn't require blocking out hours on your calendar. You can act on it in small pockets throughout the day β€” waiting for an Uber, in line at CVS, when you have five minutes to spare before a meeting. Ditch the social media scroll and do something valuable with these idle minutes.

Doors open for those willing to knock. It's no secret that those who create and maintain sincere relationships experience more opportunities over time. Your network provides a safety net and a steady foundation for information-sharing, mutual support, and fun, so stay connected.

Susie Moore is a former sales director and startup advisor, a life coach and advice columnist, and the host of the Let It Be Easy podcast.

Read the original article on Business Insider

LinkedIn influencers say they're seeing big engagement boosts by posting TikTok-like videos

11 December 2024 at 10:36
Video camera with LinkedIn logo in it and recording light for the dot in the "i"
LinkedIn has a TikTok-like video feed.

Getty Images; iStock; Natalie Ammari/BI

  • LinkedIn has been gradually rolling out a TikTok-like video feed.
  • Some creators say making videos has supercharged their engagement on the platform.
  • LinkedIn is encouraging creators to post "short" and "snappy" videos.

LinkedIn is taking aim at TikTok β€” and creators are intrigued.

Since the spring, the Microsoft-owned platform has been gradually rolling out a TikTok-style vertical video feed that features career advice, industry news, and other creator content. A LinkedIn spokesperson said "most" users now have access to it. Videos can also appear in the app's main feed.

Meghana Dhar, a creator with 15,000 LinkedIn followers, said her LinkedIn "engagement has just exploded" since she started posting videos. She added that LinkedIn moving toward video "indicates that they're taking creators really seriously."

Several creators, including Dhar, told BI that they often see much more engagement and impressions on their video posts than on their text or photo ones. Engagement refers to interactions with a post, such as a like, while impressions are how many people view a piece of content.

Dhar said, for example, that a recent text post she shared on LinkedIn got about 10,000 impressions, while a video of her talking to the camera hit over 2 million impressions. Marketing strategist Caroline Giegerich found that her LinkedIn video posts reached three times as many people as her text posts did.

A LinkedIn spokesperson said video posts β€” including videos shared from individual profiles and pages β€” get 1.4 times as much engagement on average as other posts on LinkedIn.

While the concept of LinkedIn video might feel strange to some users, it could be a key for the platform to cement itself as a core platform for creators, unlock more ad revenue,Β and keep people checking their feeds regularly. The top platforms for creators, such as YouTube, TikTok, and Instagram, are all heavily focused on video.

"I am on a personal mission to make LinkedIn a daily habit for people," JamΓ© Jackson, a LinkedIn community manager, told BI. "We are so much more than just a platform for job searching."

This isn't LinkedIn's first attempt at video. In 2019, LinkedIn launched its live video product. In 2020, it launched a "Stories" feature, which lets users share disappearing videos (that shut down in 2021).

Still, there is some indication that this current, TikTok-like push might be what finally breaks through.

"Our investments in rich formats, like video, strengthen our leadership in B2B advertising and amplify the value we deliver to our customers," Microsoft CEO Satya Nadella said during the company's October earnings call. "Weekly immersive video views increased 6x quarter-over-quarter and total video viewership on LinkedIn is up 36% year-over-year."

LinkedIn's do's and don'ts for video

So, what makes a good LinkedIn video?

Jackson said to avoid creating content that "feels way too sales-y and promotional" and to keep the video to under two minutes: short, snappy, and actionable.

"The call to action is important because I always like to secretly tell people that the comments section is the liquid gold of LinkedIn," Jackson said. "The way you do that is by inviting people to the party, inviting them to the table after you've created that video, asking them to share in the comments things that they have learned."

LinkedIn has also seen an uptick in "faceless video content," where people aren't front and center, Jackson said, adding that it had generally performed well.

The platform has encouraged CEOs and executives to talk about breaking news as well, Jackson said.

Creators are using video to grow audiences but monetization lags

Creators generally say that compared to other platforms like TikTok and Instagram, LinkedIn is much less saturated β€” and that's an opportunity to build audiences.

"I've been posting on LinkedIn almost daily, certainly every weekday for a couple of years now," said Avi Gandhi, who has 23,000 LinkedIn followers.

Gandhi has recently focused on short-form video content, posting three to four times a week and often promoting his newsletter by calling out the name and including a link to subscribe at the end of the text post.

Career coach and creator Jahleane Dolne said she often uses LinkedIn to post podcast clips. While her largest following is on TikTok (about 34,000), Dolne said her podcast clips are a better fit for the LinkedIn audience.

Despite the audience growth for some creators, the ecosystem for making money on LinkedIn isn't yet fully developed. That may be changing, though. Three of the creators BI spoke with said they were either already working on LinkedIn-focused brand deals or actively reaching out to potential sponsors. And earlier this year, the marketing agency Creator Authority launched with a focus on LinkedIn.

However, the platform has not yet introduced a monetization program similar to those on Instagram, TikTok, or YouTube that directly pays creators.

"If LinkedIn launches monetization for videos where you could start making money from the videos that you post, that would be huge," Gandhi said. "That would be incredible and that would make it all worth it."

Read the original article on Business Insider

YouTube is testing multiplayer mini-games

10 December 2024 at 03:04

YouTube is experimenting with multiplayer mini-games under its collection of lightweight, free games dubbed β€œPlayables.” Currently, Ludo Club and Magic Tiles 3 support multiplayer mode. β€œWe’re beginning to test a new multiplayer feature for a few select games on YouTube Playables. Multiplayer on Playables lets you play games in real-time with other users,” the company […]

Β© 2024 TechCrunch. All rights reserved. For personal use only.

The PayPal Mafia includes tech titans like Elon Musk, Peter Thiel, and Reid Hoffman. Here's where its members are now.

Peter Thiel
Peter Thiel, left, and Elon Musk, are two members of the so-called "PayPal Mafia."

Associated Press

  • A group of early 2000s PayPal employees and founders came to be known as the "PayPal Mafia."
  • The members have all gone on to impact Silicon Valley by founding and developing major companies.
  • The group includes Elon Musk, Peter Thiel, Reid Hoffman, and the founders of both YouTube and Yelp.

What do the founders of YouTube, Yelp, Tesla, and LinkedIn have in common?

Apart from creating some of the biggest companies in tech, they all share a common rΓ©sumΓ© line item: they've all worked at PayPal.

Many of PayPal's early employees went on to become major names in tech and the venture capital world, founding, funding, and otherwise developing successful companies. This elite group came to be known as the "PayPal Mafia," a nickname that gained popularity after Fortune used the term in a 2007 piece alongside a photo of some of the members dressed in gangster attire.

Members of the group include Elon Musk, Peter Thiel, Reid Hoffman, and over a dozen others. Here's a rundown of the most prominent members of this exclusive group and what they're up to over two decades later.

Peter Thiel: PayPal's founder and the so-called "don" of the PayPal Mafia
peter thiel elon musk early paypal
Peter Thiel in 1999.

AP

Peter Thiel cofounded the company that would become Paypal β€” called Confinity β€” in 1999 alongside Max Levchin and Luke Nosek. Confinity was launched as a developer of security software for hand-held devices like the PalmPilot, but it later pivoted toward digital money transfers.Β 

Thiel served as CEO of PayPal until October 2002, when eBay acquired the company for $1.5 billion. Thiel's 3.7% stake was worth a $55 million, according to SEC filings.

Thiel went on to cofound Founders Fund, a venture capital firm that has helped launch companies like SpaceX and Airbnb.
peter thiel
Thiel is now a billionaire.

Chip Somodevilla/Getty Images

Thiel, now a billionaire with a net worth of $15.9 billion, according to Bloomberg, cofounded the big data analysis firm Palantir in 2003. He was the first major outside investor in Facebook and contributed early funding to Yelp and LinkedIn, along with a number of other ventures launched by his PayPal peers. Thiel's also a partner of Founders Fund, a venture capital fund based in San Francisco.

Thiel has also drawn criticism in recent years for his support of President Donald Trump and for secretly funding Hulk Hogan's lawsuit against Gawker Media, which resulted in the company shutting down Gawker and selling the company's assets.

After facilitating talks between Trump and now Sen. JD Vance, Thiel gave a record-breaking $15 million to Vance's campaign, the largest donation ever given to a single senate candidate.Β 

Thiel later told The Atlantic he was taking a break from politics. Business Insider later reported that he served as an FBI informant.

While his and Trump's relationship has reportedly soured, Trump's recent announcement of VanceΒ as his vice president pick has put Thiel back to playing kingmaker.

Max Levchin: PayPal cofounder and Chief Technology Officer.
Max Levchin
Max Levchin was a cofounder of PayPal.

Ben Margot/AP

Max Levchin is sometimes called the "consigliere" of the PayPal Mafia β€” in "The Godfather," a consigliere is an advisor to the boss.

Levchin made significant contributions to PayPal's anti-fraud efforts. Together with PayPal technical architect David Gausebeck, he helped create the Gausebeck-Levchin test, an early version of a CAPTCHA for commercial applications.

Levchin now serves as the CEO of Affirm.
Max Levchin
Levchin is now CEO of Affirm.

Getty

After PayPal was bought by eBay, Levchin founded a media-sharing service called Slide that was later bought by Google. He was also an early investor in Yelp β€” at one point he was the company's largest shareholder β€” and he served asΒ chairman of Yelp from its founding in 2004 until July 2015.

He founded fintech company Affirm, which allows consumers to finance online purchases at the point of sale and pay for them over time. Affirm went public in 2021, raising $1.2 billion in its IPO. Levchin is also the chairman of Glow, a fertility-tracking app that helps users improve their odds of conceiving.

Ken Howery: PayPal cofounder and CFO from 1998 to 2002.
Ken Howery
Howery served as PayPal's CFO.

Patrick McMullan/Patrick McMullan via Getty Images

After eBay bought PayPal, Howery stayed on as eBay's director of corporate development until 2003. After PayPal's acquisition, he served as cofounder and partner of Founders Fund alongside Peter Thiel.

Howery recently served as US ambassador to Sweden.
Ken Howery
Princess Madeleine of Sweden and Ambassador Ken Howery.

Bennett Raglin/Getty Images for the World Childhood Foundation

He was appointed by former President Trump in January 2019 and confirmed in September of that year. He also donated $1 million earlier this year to America PAC, a pro-Trump super PAC created by fellow PayPal mafia member Elon Musk.

Howery is active in several nonprofits and serves as a founding advisor to Kiva, an organization that facilitates loans to low-income entrepreneurs. Kiva was founded in part by Premal Shah, PayPal's former product manager.

Howery is reportedly still good friends with Elon Musk.Β 

Elon Musk: founder of (the other) X.com, which merged with Thiel's Confinity to become PayPal
peter thiel elon musk early paypal
Elon Musk pictured in the early days of PayPal.

AP

In 1999, Elon Musk founded a payments company called X.com, which merged with Thiel's Confinity in 2000. He briefly served as CEO of PayPal before he was ousted by the board in September 2000 and replaced with Thiel. But as the company's largest shareholder, he still walked away from the PayPal sale to eBay with a cool $165 million.

Musk is currently the world's richest person.
elon musk
Musk now juggles multiple companies, including Tesla, SpaceX, and X, formerly Twitter.

Patrick Fallon / Reuters

Perhaps the best-known of all the members of the PayPal mafia now, Musk's estimated net worth is $362 billion.

Since his PayPal days, Musk has moved on to oversee companies like Tesla, SpaceX, the Boring Company, and Neuralink. He also bought Twitter and renamed it X, after buying back the X.com domain name from PayPal.Β 

Musk, who has been a vocal supporter of Trump's 2024 presidential campaign and donated more than $200 million to Republican election efforts, will also co-lead the newly created Department of Government Efficiency alongside former Republican presidential candidate Vivek Ramaswamy, Trump announced after winning the election.

Luke Nosek: PayPal cofounder and vice president of marketing and strategy.
PayPal
Nosek was also a PayPal cofounder.

Thomson Reuters

Nosek was also reportedly the person who clued in Peter Thiel to cryogenic preservation, which Thiel has since invested in heavily.

Nosek explored angel investing.
Luke Nosek
Nosek is a SpaceX investor.

David M. Benett/Getty Images for Netflix

In 2005, Nosek joined Thiel and Howery as a partner at Founders Fund. In 2017, Nosek left Founders Fund to launch investment firm Gigafund, which helped raise money for SpaceX.

Nosek was also the first institutional investor in SpaceX and is a board member. He also joined the board of ResearchGate, a platform where scientists and researchers can ask questions, follow topics, and review one another's papers.

Roelof Botha: PayPal's director of corporate development, vice-president of finance, CFO
Roelof Botha
Botha started at PayPal as director of corporate development.

Paul Zimmerman/Getty Images for TechCrunch/AOL

Botha went to school to be an actuary. He said he never planned to get into tech, but when he saw the opportunity in Silicon Valley, his intuition told him it was where he needed to be.

He started as PayPal's director of corporate development, went on to become vice-president of finance, and later served as CFO.

Botha is now a partner at venture capital firm Sequoia Capital
Roelof Botha
Botha is a major tech investor.

Steve Jennings/Getty Images for TechCrunch

Botha is now considered one of the top tech investors in the world.

Sequoia Capital has funded tech giants like Apple, Google, YouTube, and Instagram.Β 

Botha as served on the board at more than a dozen companies, including Square, EventBrite, Weebly, Tumblr, Instagram, YouTube, as well as 23andMe, which he resigned alongside the rest of the board in September over CEO Anne Wojcicki's proposal to take the company private.

Reid Hoffman: board of directors at PayPal, COO
Reid Hoffman
Hoffman started on PayPal's board of directors.

Tony Avelar/AP

LinkedIn cofounder Reid Hoffman served on the board of directors when PayPal was founded.

He eventually joined the company full-time as PayPal's COO. In a New York Times interview, Peter Thiel referred to Hoffman as PayPal's "firefighter in chief," noting that there were many fires that needed putting out in the company's early days.

When PayPal was acquired by eBay, Hoffman was the company's executive vice president.

Hoffman cofounded LinkedIn and is one of Silicon Valley's most prolific angel investors.
reid hoffman
Hoffman cofounded LinkedIn in 2002.

Kelly Sullivan/Getty Images

Hoffman was an early investor in Facebook, Flickr, Care.com, and many more. In 2017 he joined the board of Microsoft.

Hoffman has coauthored several books on startups and professional development. He hosts the "Masters of Scale" podcast, on which he interviews founders about how they launched and scaled their companies, and is a partner at VC firm Greylock Partners. He was an early investor in OpenAI and used to serve on its board, and cofounded Inflection AI.

Hoffman has also recently criticized business leaders, including his fellow PayPal mafia members, for supporting Trump.

Β 

David Sacks: PayPal COO
Yammer CEO David Sacks at Launch Festival 2013
Sacks served as PayPal's COO.

Owen Thomas, Business Insider

Like Hoffman, Sacks also served as COO at PayPal. Previously a management consultant for McKinsey & Company, David Sacks joined PayPal in 1999.

After PayPal was bought by eBay, Sacks produced and financed the box office hit "Thank You For Smoking," which would go on to be nominated for two Golden Globes. In 2006 he founded Geni.com, an online tool for building family trees.

Β 

Sacks founded several companies, became an angel investor, and was named Trump's AI and crypto 'czar'
David Sacks
Sacks went on to become a major investor.

REUTERS/Beck Diefenbach

In 2016, Sacks was briefly interim CEO at Zenefits, an HR software firm that was plagued by scandal, including allowing unlicensed brokers to sell insurance to its customers. In 2017, Sacks cofounded the early-stage investment firm Craft Ventures.Β 

Sacks is a serial entrepreneur and investor, with angel investments in Airbnb, Postmates, Slack, and many more.Β 

He's also a member of Elon Musk's inner circle and, like the Tesla CEO, is an avid Trump supporter, hosting a fundraiser for the president-elect at his home. Sacks reportedly urged Trump personally to choose Vance as his running mate, whom he was introduced to by fellow Paypal mafia member Thiel.

Trump said in December that he is appointing Sacks as his White House AI and crypto czar.

Β 

Β 

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Jawed Karim, Chad Hurley, and Steve Chen met at PayPal during its early days.
YouTube founders
Steven Chen, left, and Chad Hurley.

Noah Berger/AP

Karim and Chen were engineers, while Hurley was a web designer.

In 2005, the trio launched the video-sharing platform YouTube. Karim uploaded the platform's very first video, "Me at the zoo," an 18-second clip of Karim in front of the San Diego Zoo's elephant exhibit. It's been viewed over 292 million times.

Today, Karim, Hurley, and Chen remain active entrepreneurs and investors with a hand in projects from finance to music.
Chad Hurley YouTube
The trio went on to become investors.

David Buchan/Getty Images

Karim launched venture fund YVentures in 2008, through which he invested in Palantir, Reddit, Eventbrite, and Airbnb.

Hurley stepped down as CEO of YouTube in 2010. Since then, he's backed education startup Uptime and invested in several sports teams.

Chen invested in actor Joseph Gordon-Levitt's musical collaboration platform HitRecord, which in February secured $6.4 million in Series A funding.

Andrew McCormack: assistant to Peter Thiel at PayPal
PayPal
McCormack served as Thiel's assistant at PayPal.

Paul Sakuma/AP

McCormack joined PayPal in 2001, working as an assistant to Peter Thiel as the company prepared for its IPO.

In 2003, McCormack started a restaurant group in San Francisco. In 2008, he joined Thiel Capital and worked there for 5 years.

McCormack went on to launch VC firm Valar Ventures
Peter Thiel
Peter Thiel.

Alex Wong/Getty Images

McCormack partnered up with Thiel again in 2010 to found Valar Ventures, a venture capital fund.

Valar Ventures has invested in technology startups well beyond Silicon Valley, including some in Europe and Canada. In August, Crunchbase reported the firm had closed on a $150 million funding round for a new venture capital fund, Valar Fund V.

McCormack continues to serve as a managing partner of the firm.

Β 

Keith Rabois: PayPal's executive vice president
Keith Rabois
Rabois served as PayPal's executive vice president.

Fortune Live Media via Flickr

Entrepreneur Keith Rabois served as PayPal's executive vice president from 2000 to 2002.

He would go on to join his PayPal colleague Reid Hoffman at LinkedIn as its vice president for business and corporate development from 2005 to 2007. He was an early investor in startups like Square, where he spent two-and-a-half years as COO.Β 

Rabois joined Thiel, Howery, and Nosek as a partner at Founders Fund.
Keith Rabois
Rabois has invested in a number of major companies.

Steve Jennings/Getty Images for TechCrunch

Rabois is the CEO of OpenStore and has served on the board of directors for Yelp, Xoom, and Reddit.

He was a general partner at Founder's Fund, where he cofounded OpenStore, before returning to Khosla Ventures in early 2024.

Russel Simmons and Jeremy Stoppelman: worked on technology at PayPal.
Jeremy Stoppelman Russel Simmons

Eric Risberg/AP

Simmons was an engineer and Stoppelman was the vice president of technology after joining PayPal from X.com.

In 2004, the pair came up with the idea for a platform where users could leave recommendations about businesses in their area. They pitched the idea to Levchin, who provided an early investment of $1 million, and Yelp was born.

Simmons left his official role at Yelp in 2010, while Stoppelman continues to serve as Yelp's CEO.
Jeremy Stoppelman

MediaNews Group/Bay Area News via Getty Images

Simmons served as CTO at Yelp from 2004 until he left the role in 2010. Stoppelman is still CEO of Yelp, and has publicly spoken out in support of political issues like women's reproductive rights.

Jack Selby: PayPal's vice president of corporate and international development.
FILE PHOTO: The German headquarters of the electronic payments division PayPal is pictured at Europarc Dreilinden business park south of Berlin in Kleinmachnow, Germany, August 6, 2019. REUTERS/Fabrizio Bensch/
Selby started Clarium Capital Management.

Reuters

After leaving PayPal, Selby partnered with Thiel to start Clarium Capital Management.

In 2017, Selby was revealed to be the generous tipper behind "Tips for Jesus."
jack selby

Photo by Charles Sykes/Invision/AP

Selby later helped manage Thiel Capital, the Thiel's family office, and started his own venture capital fund, AZ-VC, where he serves as managing partner. He still serves as managing director at Thiel Capital.

Starting in 2013, Selby began anonymously leaving tips for unsuspecting waitstaff, ranging into the thousands, and signing them "Tips for Jesus." His identity was confirmed by a New York City bartender who served him prior to receiving a $5,000 tip.

Dave McClure: PayPal's director of marketing
Dave McClure
McClure served PayPal's director of marketing.

Edward Wong/South China Morning Post via Getty Images

McClure served PayPal's director of marketing as for four years beginning in 2001.

According to McClure's LinkedIn, he began a program called the PayPal Developer Network, which consisted of about 300,000 developers that were using PayPal.Β 

McClure left PayPal in 2004.
Dave McClure

Getty Images

He had a brief stint at Founders Fund before launching 500 Startups, an early stage venture fund. McClure stayed at 500 Startups until June 2017, when he was accused of "inappropriate behavior with women" in a New York Times report and stepped down from his role at the firm, writing an apology post titled "I'm a creep. I'm sorry."

He's since become an investor and owner in a professional sports league for ultimate frisbee and cofounded Practical Venture Capital, according to his LinkedIn.

Β 

Several more former PayPal employees went on to have careers both in and out of tech.
Joe Lonsdale
Joe Lonsdale, who got his start as a finance intern at PayPal.

Brian Ach/Getty Images for TechCrunch

  • Yishan Wong was an engineering manager who later served as CEO of Reddit from 2011 to 2014. He then founded the reforestation company Terraformation in 2020, where he now serves as CEO.
  • Jason Portnoy worked in finance at PayPal, and went on to work at Clarium Capital and Palantir. He's now a partner at VC firm Oakhouse Partners.Β 
  • Premal Shah was a product manager at PayPal beginning in 2000, then went on to work at technology nonprofit Kiva. He's now president at financial-services startup Branch.Β 
  • David Gausebeck was a technical architect at PayPal. Now, he serves as chief scientist at 3D modeling company Matterport. He cofounded 3D modeling company Matterport, where he now serves as chief scientist.
  • Joe Lonsdale started his career as a finance intern at PayPal before moving into venture capital β€” he's worked at VC firms Clarium Capital, Formation 8, and 8VC. Lonsdale also cofounded Palantir, and has reportedly contributed to a Trump PAC.
  • Eric Jackson was director of marketing at PayPal and went on to write a book about the company called "The PayPal Wars." He's currently the CEO of CapLinked.Β 
Read the original article on Business Insider

Remote workers are swapping commute hours for side hustles

29 November 2024 at 18:54
Remote work
A recent LinkedIn survey showed that remote workers are slightly more likely than their peers to have side hustles.

VW Pics/Getty Images

  • Remote workers are slightly more likely to have side gigs than in-person or hybrid peers.
  • Extra time from remote work may enable more side hustles like consulting or rideshare.
  • Some data shows employees who choose where to work are more productive.

Remote workers are more likely to have side gigs than their office-based peers β€” 34% versus 29% β€” according to a new LinkedIn Workforce Confidence survey of 8,606 US professionals.

The trend toward additional income streams appears strongest among those with flexible work arrangements. While only a quarter of full-time employees reported having a side gig, the number jumps to 52% for freelancers and 46% for both contractors and self-employed workers.

Side gigs include working as consultants, rideshare drivers, and rental property managers.

Remote workers' higher participation in side hustles could stem from increased time savings from not commuting. GPS data from traffic analytics company INRIX shows supercommuting β€” or traveling over 75 miles to work β€” has been on the rise over the last few years. The same trend applies to commutes over 40 miles for the country's 10 largest cities.

The higher rate of side gigs among remote workers, though small, could also stem from some evidence that productivity slows when workers are pushed to return to the office.

LinkedIn cited a May 2024 Great Place to Work survey of 4,400 US employees, which found that workers who could choose where they work were more likely to exceed expectations and have better relationships with their bosses.

However, the data is complicated, as various remote work studies have different conclusions. Stanford economists found 10% lower productivity for fully remote work compared to fully in-person work. Meanwhile, a separate Stanford report found that hybrid work had no effect on productivity or career advancement compared to in-person work.

Dozens of employees with side hustles, particularly those in remote roles, have told Business Insider about their strategies for maximizing their income. Some particularly successful side hustlers said content creation and selling on Etsy were simple ways to grow their income while working full-time.

Some remote workers told BI they drive for Uber or DoorDash while working as accountants or analysts. Dozens of drivers have told BI over the last year that falling earnings and growing competition have made it challenging to make enough, though many value the flexibility to drive during lunch breaks or before or after their full-time jobs.

Both remote and in-person workers previously told BI that real-estate side hustles have been particularly fruitful. Jesse Singh, 29, worked two nursing roles, which he used to fund his real estate company. Once he sold a $2.2 million property, he cut his nursing hours.

Some said they quit their in-person corporate roles for full-time remote positions, which allowed them to better craft their schedules and add in other income streams. Some turned their remote reselling side hustles on sites like eBay into full-time positions.

Natalie Fischer left her corporate job in 2023 to grow her business as a finance content creator and is now bringing in over $150,000 in revenue in 2024. She's diversified her revenue through user-generated content and money workshops, and she's looking to secure speaking engagements.

BI has also reported on dozens of "overemployed" remote workers who secretly work multiple jobs to earn six-figure incomes. Many said they don't feel guilt for working multiple remote positions, even as remote roles become scarcer and harder to get.

Patrick, a millennial in California, previously told BI that because his remote account manager role didn't give him enough work for an eight-hour workday, he took on an additional full-time role and freelance work, bringing his income to nearly $200,000.

Read the original article on Business Insider

A Gen Zer who used AI to apply for hundreds of roles says it helped him land a job

27 November 2024 at 01:01
A man wearing glasses working at his computer, which the screen is reflected back in his glasses' lenses.
A Gen Zer (not pictured) said an AI tool helped him apply to hundreds of jobs and ultimately land a tech role.

pixdeluxe/Getty Images

  • A 28-year-old used an AI tool called AIHawk to apply for hundreds of jobs on LinkedIn.
  • He said AIHawk helped him land a software engineering job.
  • Using AI tools during the application process comes with risks.

Applying for jobs can be a time-consuming and frustrating process, and some job seekers are using AI to try to make it more tolerable.

Guilherme, a 28-year-old based in Brazil, began looking for a software engineering role after he was laid off in April. In October, after little luck, he learned about AIHawk β€” a tool that allows users to easily apply for up to hundreds of jobs per day. One month later, AIHawk had submitted more than 1,300 applications on Guilherme's behalf and he landed a job.

"This the type of job I was looking for," said Guilherme, whose identity was verified by Business Insider but asked to use a pseudonym. "It was certainly a byproduct of AIHawk."

Guilherme is among the people who have struggled to find work over the past year and turned to AI tools to help them write rΓ©sumΓ©s and cover letters, prepare for interviews, and apply for jobs.

To be sure, relying on AI during the application process comes with risks β€” including a rΓ©sumΓ© littered with mistakes β€” and it could be a dealbreaker for some HR departments. Additionally, in the quickly evolving AI landscape, there's a lack of clarity over how employers and job platforms view candidates' use of these tools.

Automating the job search process can save time

Federico EliaΒ created AIHawkΒ earlierΒ this year, and in August, he published the code hosting platform GitHub so anyone could use the tool. AIHawk automates the application process for LinkedIn's easy-apply jobs β€” which pulls info from a user's profile to fill in an application. To date, AIHawk has been "starred" β€” or bookmarked β€” on GitHub by more than 22,000 people globally. There are more than 6,300 members of the AIHawk community on the messaging service Telegram, where users critique the tool, share tips on how to use it, and provide updates on their job searches.

AIHawk is one of many AI job application tools on the market. While it can be installed and used without any cost, users previously told BI that doing so requires some familiarity with the programming language Python.

Guilherme's tech background made it easier to use the tool. He said AIHawk typically applied to about 50 jobs a day and that some of these applications turned into interviews.

Guilherme ultimately was hired for a job he didn't apply for using AIHawk. He said he learned about the role after someone from the company reached out to him via LinkedIn. However, Guilherme believes AIHawk played a major role in the outcome of his job search. When he started using the tool, he said he began hearing from several recruiters about jobs he'd never applied for.

"I got several LinkedIn InMails a day, every single day, since mid-October, from recruiters, hiring managers, and C-suites of companies," he said, adding, "This was something that never happened to me before."

Guilherme said that he believes applying for so many jobs "boosted" his LinkedIn profile in the platform's algorithm β€” making it easier for recruiters to find him.

"With my account's activity being through the roof, my profile was boosted up in searches, which led to my new boss finding me," he said.

A LinkedIn spokesperson told BI that applying to more roles would not make a person's profile more visible to a recruiter. The spokesperson said that job seekers who keep their profiles up to date are more likely to hear from recruiters.

The spokesperson said that the company doesn't permit the use of third-party software β€” such as bots β€” that scrapes or automates activity on LinkedIn.

Guilherme recommended that AIHawk users spend time filtering out job titles that aren't a good fit and use interviews as an opportunity to practice their communication skills β€” which could help them land a job down the road.

Overall, Guilherme said the biggest perk of AIHawk was the time it saved him.

"Imagine if I had to do this manually?" he said, referring to the resumes he submitted with AIHawk. "I'd probably go insane."

Are you looking for a job and comfortable sharing your story with a reporter? Did an AI job tool help you land a job recently? Please fill out this form.

Read the original article on Business Insider

A career coach shares 4 things to immediately stop sharing online if you're looking for a job

25 November 2024 at 02:07
Madeline Mann headshot in office.

Diana Feil.

  • Madeline Mann, a career coach, advises job seekers to be careful about what they post online.
  • Mann said job recruiters will check a candidate's LinkedIn and other social media platforms.
  • She said sharing about your current job search journey on LinkedIn could backfire.

This as-told-to essay is based on a conversation with Madeline Mann, a 32-year-old career coach and CEO of Self Made Millennial from Los Angeles. It has been edited for length and clarity.

I've been a career coach for about six years. As the CEO of Self Made Millennial, my career coaching service, I want people to feel confident in selling themselves and ultimately land the job offer.

When it comes to job hunting, I tell my clients that recruiters will definitely check their LinkedIn profile β€” but they might not stop there. It's very likely they'll search for candidates on other social media platforms too.

For that reason, when looking for work, there are several things you shouldn't share online. Here are four of them.

1. Don't share your job search journey

When you're job searching, I'd heavily advise against documenting your journey. There has been a surge of people on LinkedIn, sharing what it's like to apply for jobs in today's market.

They say things like, "Oh, I just went through this company's interview process, and I didn't get the job," or, "Look how silly this job application is β€” and here's how I feel about it."

While it might get you some good engagement, understand employers are watching, too. As a job seeker, you don't want them to think, "Oh no, if we put this person through our interview process, what are they going to publicly say about our company?"

Although the job search journey can be pretty isolating, and it can feel good to talk about it, you really want to be cautious here.

2. Mental health

Similarly, I would advise against sharing your mental health journey online. This is something that has become a much more mainstream conversation and for such good reason.

But understand, it's something that an employer could make snap judgments on. Those hiring might question your ability to do the role, and you might not know it β€” as they won't tell you that.

Sharing things about depression, or anxiety, might make an employer wonder, "How is that going to impact our business?" and "Are they going to be capable of this job?"

Even if you're being uplifting and reflective, it's very risky. Instead, I'd try to keep this more to your inner circle, where you can control who has access to knowing.

3. Don't share your rΓ©sumΓ© online

On LinkedIn, there's an option to share your rΓ©sumΓ© β€” and I wouldn't recommend doing that.

If you share the same rΓ©sumΓ© everywhere online, you're missing the chance to tailor it to what that company is looking for. This is especially important if you have diverse interests in different roles; that one rΓ©sumΓ© could send the wrong message.

Instead, I suggest only sharing your rΓ©sumΓ© with the company you're applying to, rather than making it public on your website or LinkedIn profile.

4. Consider not sharing political campaigns

If you've worked on a political campaign, it's important to consider whether you should actually include it on your LinkedIn profile.

Yes, you likely gained valuable experience, but before posting it, think about the cities you want to work in, the role you're applying for, and the jobs you'd like to pursue.

Many people struggle to separate their beliefs and may make assumptions based on who they think you voted for. These differences can cloud someone's judgment, and when you're applying for jobs, you don't want that to happen.

Even if they shouldn't, small biases can make a big impact. In the end, you don't want to give people the ability to quickly judge you before they get to know you.

Protecting your accounts

When applying for jobs, go to Google, type in your name, and see what comes up. A recruiter will usually start there. They might see your LinkedIn profile, but they could also come across your X and Instagram accounts, too. If those platforms appear, they'll likely click on those links.

To protect yourself from that happening β€” you can do a few things. First, you can put your social media accounts on private, which isn't necessarily foolproof, but a start, or you can set your social media accounts to include just your first and middle name, so your last name doesn't appear.

You can also slightly misspell your last name. For example, I saw someone whose last name starts with "W," but he used two "V"s instead. That way, if someone searched his last name, it wouldn't show up.

But just as a general rule, know that if someone does get through your privacy settings, there are ways to see what you've liked and who you follow.

Before posting, ask yourself is this the right way to portray myself? Should I just send this in a group text to my friends instead? Really consider those things before posting.

If you're a career coach who would like to share helpful job searching tips, please email Manseen Logan at [email protected].

Read the original article on Business Insider

LinkedIn co-founder Reid Hoffman warns against Elon Musk’s β€˜conflict of interest’ in setting AI policies

22 November 2024 at 11:57

Reid Hoffman, co-founder at LinkedIn and Inflection AI, shared his expectations for the incoming Trump administration in an opinion piece for the Financial Times. And while he appears hopeful that President-Elect Donald Trump could clear the way for more competition and faster innovation in the technology industry, Hoffman also expressed concerns around Trump providing certain […]

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