Project Entrepreneur Would Rather Change the World than Buy a Luxury Car

HoffmanReidGreylockPartners2013-06-28.jpg“Reid Hoffman at Greylock Partners foresees a tectonic shift coming in the Web, with data and its many uses as the new linchpin, replacing identity and relationships.” Source of caption and photo: online version of the NYT article quoted and cited below.

(p. 5) As an executive vice president, it was up to Mr. Hoffman to manage external relations. “He was the firefighter in chief at PayPal,” Mr. Thiel says. “Though that diminishes his role because there were many, many fires.”

Mr. Hoffman emerged as a connector and high-level strategist. He packed his schedule with meetings, charmed credit card companies and soothed the regulators.
PayPal survived, and when the company went public, in 2002, Mr. Hoffman and many of his colleagues became multimillionaires.
Mr. Thiel splurged on a Ferrari. Mr. Hoffman wanted to buy an Audi but instead invested his newfound riches in one of the first solar panel companies to come out of Silicon Valley, Nanosolar, and bought an Acura instead.
“I started to think about the value of money,” he says. “I thought if I only had $75,000, would I rather invest in a luxury car or make a play in changing the world?”
Nanosolar became a multibillion-dollar enterprise.

For the full story, see:
EVELYN M. RUSLI. “A King of Connections; How Reid Hoffman of LinkedIn Became Tech’s Go-To Guy.” The New York Times, SundayBusiness Section (Sun., November 6, 2011): 1 & 5.
(Note: ellipsis added.)
(Note: the online version of the article has the date November 5, 2011, and has the title “A King of Connections Is Tech’s Go-To Guy.”)

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