$ContextLogic (WISH.US)$ good read WISH has the backing an...

$ContextLogic (WISH.US)$
good read

WISH has the backing and insights of two of Silicon Valley's most successful tech founders and investors, in its fintech entry - PayPal and Palantir (PLTR) co-founder Peter Thiel and Palantir co-founder Joe Lonsdale. Peter Thiel and Joe Lonsdale are amongst the largest investors in WISH through their respective VC firms. Founders Fund and 8VC. Peter Thiel - one of the greatest investors in Silicon Valley history - is the "Don" of the legendary "PayPal Mafia", which shaped Silicon Valley with the companies they founded after the sale of PayPal to eBay in 2002. Joe Lonsdale is one of the members of the PayPal Mafia. To understand this and the tremendous implications this holds for WISH's fintech entry, we should recap back on tech history.

Peter Thiel was CEO of PayPal (PYPL) from until October 2002, when it was acquired by eBay for $1.5 billion. PayPal (originally X.com), had been the merger of Elon Musk's online bank and payments system X.com with Peter Thiel's payments company Confinity, and the merger took place in March 2000.

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