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	<title>BoomTown &#187; PayPal</title>
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		  <title>All Things Digital</title>
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		<title>From the Department of Oh No, She Didn't: Whitman Defends eBay's Skype Debacle</title>
		<link>http://kara.allthingsd.com/20091111/from-the-department-of-oh-no-she-didnt-whitman-defends-ebays-skype-debacle/</link>
		<comments>http://kara.allthingsd.com/20091111/from-the-department-of-oh-no-she-didnt-whitman-defends-ebays-skype-debacle/#comments</comments>
		<pubDate>Wed, 11 Nov 2009 19:30:19 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Internet]]></category>
		<category><![CDATA[Kara Swisher]]></category>
		<category><![CDATA[Silicon Valley]]></category>
		<category><![CDATA[digital]]></category>
		<category><![CDATA[innovation]]></category>
		<category><![CDATA[interview]]></category>
		<category><![CDATA[politics]]></category>
		<category><![CDATA[software]]></category>
		<category><![CDATA[telecom]]></category>
		<category><![CDATA[acquisition]]></category>
		<category><![CDATA[California]]></category>
		<category><![CDATA[communications]]></category>
		<category><![CDATA[e-commerce]]></category>
		<category><![CDATA[eBay]]></category>
		<category><![CDATA[fight]]></category>
		<category><![CDATA[GigaOm]]></category>
		<category><![CDATA[investor]]></category>
		<category><![CDATA[Janus Friis]]></category>
		<category><![CDATA[legal]]></category>
		<category><![CDATA[licensing]]></category>
		<category><![CDATA[management]]></category>
		<category><![CDATA[Meg Whitman]]></category>
		<category><![CDATA[Niklas Zennström]]></category>
		<category><![CDATA[Om Malik]]></category>
		<category><![CDATA[PayPal]]></category>
		<category><![CDATA[radio]]></category>
		<category><![CDATA[Republican]]></category>
		<category><![CDATA[Skype]]></category>
		<category><![CDATA[Steve Poizner]]></category>
		<category><![CDATA[telephony]]></category>
		<category><![CDATA[Tom Campbell]]></category>

		<guid isPermaLink="false">http://kara.allthingsd.com/?p=20516</guid>
		<description><![CDATA[If spinning is an intense political skill, former eBay CEO Meg Whitman is doing her very best at trying to create a silk purse out of a sow's ear.

As Om Malik reports on GigaOm, Whitman--who is trying to nab the Republican gubernatorial nomination in California--told a radio interviewer recently that "actually I think Skype will prove to be a good acquisition for eBay."

Well, good if you mean the $2.6 billion purchase of the Interent telephony that didn't ever work as Whitman had effusively promised in 2005. Or the ugly lawsuits over it. Or the successful shakedown by its co-founders to get a big chunk back.

You get the idea.]]></description>
			<content:encoded><![CDATA[<p><a href="http://kara.allthingsd.com/files/2009/11/meg0016_0.jpg"><img src="http://kara.allthingsd.com/files/2009/11/meg0016_0-240x300.jpg" alt="meg0016_0" title="meg0016_0" width="240" height="300" class="alignright size-medium wp-image-20532" /></a></p>
<p>If spinning is an intense political skill, former eBay CEO Meg Whitman is doing her very best at trying to create a silk purse out of a sow&#8217;s ear.</p>
<p>As <a href="http://gigaom.com/2009/11/10/whitman-on-skype/">Om Malik reports on GigaOm</a>, Whitman&#8211;who is trying to nab the Republican gubernatorial nomination in California&#8211;told a radio interviewer recently that &#8220;actually I think Skype will prove to be a good acquisition for eBay.&#8221;</p>
<p>Well, good if you mean the $2.6 billion purchase of the Internet telephony company that never worked as Whitman had effusively promised in 2005.</p>
<p>She noted then: &#8220;By combining the two leading e-commerce franchises, eBay and PayPal, with the leader in Internet voice communications, we will create an extraordinarily powerful environment for business on the Net.&#8221;</p>
<p>That fabulous-sounding synergy did not happen, of course, eventually causing new eBay (EBAY) management to sell a huge chunk of Skype to an investor group.</p>
<p>Best of all, that sale included an <a href="http://kara.allthingsd.com/20091104/i-love-the-smell-of-settlement-in-the-morning-skype-founders-set-to-get-10-percent-option-to-buy-three-percent-more-and-two-board-seats/">ugly and expensive legal fight over software technology licensing issues</a> with its co-founders, Niklas Zennström and Janus Friis, given that Whitman neglected in the competitive bidding to secure them properly.</p>
<p>That resulted in Zennström and Friis forcing eBay to include them just last week in the deal for a big chunk of Skype in exchange for those rights.</p>
<p>As the sick political joke goes: Other than that, Mrs. Lincoln, how was the play?</p>
<p>Nonetheless, Whitman has not let the facts get in the way of a good story!</p>
<p>She kind of had to, I guess, responding to an allegation by one of her rivals in the race, tech entrepreneur Steve Poizner, who has tried to chip away at her blue-chip business reputation by attacking the Skype deal. </p>
<p>Whitman was right to defend a lot of other great acquisitions she made as leader at eBay, such as PayPal; and she can be, as she said in the interview, &#8220;proud of my tenure at eBay.&#8221;</p>
<p>She should be, given that she was key to building a huge and profitable company that is a clear Silicon Valley Internet icon. While eBay did start to creak near the end of her decade-long stint there, many of Whitman&#8217;s accomplishments are nonetheless impressive.</p>
<p>But not all of them and <em>definitely</em> not the Skype buy, so she might want to stop making laughable declarations like this one in the interview: </p>
<p>&#8220;You probably read that the company just sold about two-thirds of the interest in Skype to an investor group, kept a portion, and got almost all the money back, and I think Skype will be very effective.&#8221;</p>
<p>Well, maybe so, but only because new management had to do clean-up and pay-up for her error, and new owners in charge of Skype could possibly better take advantage of what most consider a terrific property.</p>
<p>So, in the end, Whitman might be right.</p>
<p>And it might not even matter. In a recent poll, Whitman has pulled far ahead of ex-Congressman Tom Campbell, with 34 percent support from Republican primary voters compared to 13 percent for Campbell. Poizner clocks in third at six percent.</p>
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		<title>Ted Leonsis Speaks!</title>
		<link>http://kara.allthingsd.com/20080414/ted-leonsis-speaks/</link>
		<comments>http://kara.allthingsd.com/20080414/ted-leonsis-speaks/#comments</comments>
		<pubDate>Mon, 14 Apr 2008 08:49:24 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Internet]]></category>
		<category><![CDATA[Kara Swisher]]></category>
		<category><![CDATA[digital]]></category>
		<category><![CDATA[video]]></category>
		<category><![CDATA[AOL]]></category>
		<category><![CDATA[PayPal]]></category>
		<category><![CDATA[RevolutionMoney]]></category>
		<category><![CDATA[Steve Case]]></category>
		<category><![CDATA[Ted Leonsis]]></category>
		<category><![CDATA[Washington Capitals]]></category>

		<guid isPermaLink="false">http://kara.allthingsd.com/20080414/ted-leonsis-speaks/</guid>
		<description><![CDATA[BoomTown recently had lunch in Silicon Valley with Ted Leonsis, one of the most colorful, interesting and early of the modern Web&#8217;s entrepreneurs.
Leonsis is best known as the man who put the oomph into AOL during its glory days in the last century, when he joined CEO Steve Case in 1993 to grow the company [...]]]></description>
			<content:encoded><![CDATA[<p>BoomTown recently had lunch in Silicon Valley with <a href="http://voices.allthingsd.com/20080414/leonsis/">Ted Leonsis</a>, one of the most colorful, interesting and <em>early</em> of the modern Web&#8217;s entrepreneurs.</p>
<p>Leonsis is best known as the man who put the oomph into AOL during its glory days in the last century, when he joined CEO Steve Case in 1993 to grow the company into a behemoth that was able to essentially take over media giant Time Warner (TWX) in 2000.</p>
<p>That pairing did not go so well, as time did end up telling, and most of AOL&#8217;s senior ranks were gone from the company quickly.</p>
<p>That is, except for Leonsis, who stayed around AOL until the end of 2006 when he left the company to focus on his sports investments (See an <a href="http://online.wsj.com/article/SB120777206831802569.html?mod=googlenews_wsj">interview with him about his Washington Capitals hockey team in The Wall Street Journal over the weekend here</a>).</p>
<p>Leonsis has also recently teamed up with Case again to take on PayPal and the credit card industry&#8211;that shouldn&#8217;t be that hard at all!&#8211;with <a href="http://www.revolutionmoney.com/">RevolutionMoney</a>.</p>
<p>He talks about that venture and more, including the end of portals, the rise of distributed networks, the need for a new online ad paradigm and how techies need to focus more on &#8220;happiness and the quality of life.&#8221; </p>
<p>Yeah, <em>that</em>.</p>
<p>Here&#8217;s the video, in which Leonsis did not talk about the Yahoo (YHOO) deal, as this video was shot before talks between Yahoo and AOL heated up:</p>
<div class="video-wsj"><embed src="http://s.wsj.net/media/swf/microPlayer.swf" bgcolor="#FFFFFF" flashVars="videoGUID={1499593735}&playerid=4001&plyMediaEnabled=1&configURL=http://wsj.vo.llnwd.net/o28/players/&autoStart=false" base="http://s.wsj.net/media/swf/" name="microflashPlayer" width="320" height="240" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed><br />[ See post to watch video ]</div>
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		<title>Facebook Headhunter: The Quest for the Golden Geek!</title>
		<link>http://kara.allthingsd.com/20080222/facebook-headhunter-the-quest-for-the-golden-geek/</link>
		<comments>http://kara.allthingsd.com/20080222/facebook-headhunter-the-quest-for-the-golden-geek/#comments</comments>
		<pubDate>Fri, 22 Feb 2008 10:00:04 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Facebook]]></category>
		<category><![CDATA[Google]]></category>
		<category><![CDATA[Internet]]></category>
		<category><![CDATA[Kara Swisher]]></category>
		<category><![CDATA[Microsoft]]></category>
		<category><![CDATA[Yahoo]]></category>
		<category><![CDATA[digital]]></category>
		<category><![CDATA[social networking]]></category>
		<category><![CDATA[Bebo]]></category>
		<category><![CDATA[Dan Rosensweig]]></category>
		<category><![CDATA[eBay]]></category>
		<category><![CDATA[headhunter]]></category>
		<category><![CDATA[Hilary Schneider]]></category>
		<category><![CDATA[Jeff Jordan]]></category>
		<category><![CDATA[Joanna Shields]]></category>
		<category><![CDATA[Joanne Bradford]]></category>
		<category><![CDATA[Marc Andreessen]]></category>
		<category><![CDATA[Mark Zuckerberg]]></category>
		<category><![CDATA[Netscape]]></category>
		<category><![CDATA[OpenTable]]></category>
		<category><![CDATA[PayPal]]></category>
		<category><![CDATA[Quadrangle Group]]></category>
		<category><![CDATA[Sheryl Sandberg]]></category>
		<category><![CDATA[Shone Brown]]></category>

		<guid isPermaLink="false">http://kara.allthingsd.com/20080222/facebook-headhunter-the-quest-for-the-golden-geek/</guid>
		<description><![CDATA[If Facebook founder Mark Zuckerberg is serious about finding a true No. 2 to replace outgoing exec Owen Van Natta and more, then BoomTown has certainly at least two cents to add.
So here is our list of ideas, which include a number of women execs, since a list that Facebook has made apparently includes a [...]]]></description>
			<content:encoded><![CDATA[<p>If Facebook founder Mark Zuckerberg is serious about <a href="http://kara.allthingsd.com/20080222/facebooks-next-management-moves-the-un-zuckerberg/">finding a true No. 2</a> to replace outgoing exec Owen Van Natta and more, then BoomTown has certainly at least two cents to add.</p>
<p>So here is our list of ideas, which include a number of women execs, since a list that Facebook has made apparently includes a few women too.</p>
<p>(And we applaud that, especially since, as you can see from <a href="http://www.facebook.com/press/info.php?execbios">this page at the social-networking site</a>, there are none in its current top management.)</p>
<p>But you do have to begin with the menfolk, since the top choice of mine is one.</p>
<p><img src='http://kara.allthingsd.com/files/2008/02/ab_jj.jpg' alt='jeffjordan' /></p>
<p>That would be someone that Facebook has already looked at, former eBay exec Jeff Jordan (pictured here). Jordan and Zuckerberg talked a lot last year, before <a href="http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&#038;newsId=20070529005875&#038;newsLang=en">Jordan headed off to lead OpenTable</a>, the restaurant reservations service. </p>
<p>It would be hard to entice Jordan, a one-time contender for the top spot at eBay (EBAY), to leave OpenTable, given it is IPO-bound in the next year.</p>
<p>But he has the chops operationally, having led eBay&#8217;s North American unit and also its PayPal division. In other words, this man can scale.</p>
<p><img src='http://kara.allthingsd.com/files/2008/02/danr.jpg' alt='danrosensweig' class='alignleft'/></p>
<p>But so can former Yahoo (YHOO) COO Dan Rosensweig (pictured here), who left the troubled Internet portal in late 2006, just before it started its long and painful descent into Microsoft&#8217;s bear-hug bid. </p>
<p>Rosensweig is now a principal and its-man-in-Silicon-Valley for the tony New York investment firm, the <a href="http://www.quadranglegroup.com/rosensweig.html">Quadrangle Group</a>, so it is unlikely he would move over to Facebook.</p>
<p>More to the point, it also unclear how well his gregarious nature would mesh with Zuckerberg&#8217;s less social manner (although we would pay big bucks to see those two interacting on a daily basis). But Rosensweig, for all his joshing, has the leadership skills and deep contacts in the tech community.</p>
<p><img src='http://kara.allthingsd.com/files/2008/02/bradford_bio.jpg' alt='joannabradford' /></p>
<p>And since Zuckerberg feels so comfy with Microsoft (MSFT), why not its <a href="http://www.microsoft.com/presspass/exec/bradford/default.mspx">savvy Chief Media Officer Joanne Bradford</a> (pictured here). There, she &#8220;leads global product and platform development, content and programming, business development, product management, marketing and branded entertainment for MSN.&#8221;</p>
<p>Plus, she might not relish the idea of helping overhaul Yahoo, if that deal is struck, and has the ad sales and content experience too. Also, she is tough, but nice about it.</p>
<p><img src='http://kara.allthingsd.com/files/2008/02/2985511865a3949119206b414914992m.jpg' alt='joannashields' class='alignleft'/></p>
<p>So is a sharp Facebook social-networking competitor, Bebo&#8217;s President Joanna Shields (pictured here). Based in London, she has worked at both Google (GOOG) and RealNetworks (RNWK) and has an international exposure Facebook needs. </p>
<p>Plus, she knows how to work with founders (in Bebo&#8217;s case, Michael and Xochi Birch) and has a charming, though squarely in-charge, demeanor.</p>
<p>Google, of course, has been a good headhunting ground for Facebook and the search giant has been fending off poaching off its execs by Facebook regularly. </p>
<p>But why not go for the big game, as there is a long list of prospects in the <a href="http://www.google.com/corporate/execs.html#">higher managment echelons of Google</a>.</p>
<p>That includes: Tim Armstrong, president, Advertising and Commerce, North America; Marissa Mayer, vice president, Search Products &#038; User Experience; Susan Wojcicki, vice president, Product Management; Sukhinder Singh Cassidy, president, Asia Pacific and Latin America Operations; David Fischer, vice president, Online Sales &#038; Operations; Omid Kordestani, senior vice president, Global Sales &#038; Business Development; Salar Kamangar, vice president, Product Management.</p>
<p>But we&#8217;re partial to a pair of hard-charging execs who lead critical nuts-and-bolts operations at Google: Sheryl Sandberg, vice president, Global Online Sales &#038; Operations; and Shona Brown, senior vice president, Business Operations.</p>
<p><img src='http://kara.allthingsd.com/files/2008/02/sheryl.jpg' alt='sherylsandberg' /></p>
<p>Sandberg (pictured here) is responsible for online sales of Google&#8217;s ad and publishing products, bringing experience Facebook sorely needs. She is also politically savvy, having been the chief of staff at the Treasury Department in the Clinton administration. </p>
<p><img src='http://kara.allthingsd.com/files/2008/02/shona_brown.jpg' alt='shonabrown' class='alignleft'/></p>
<p>Former McKinsey consultant and author Shona Brown (pictured here) has been running Google&#8217;s business operations since 2003 and knows how to push around, oops, work with two headstrong founders at once. Thus, Zuckerberg would be a breeze for the sharply honed Brown. </p>
<p>But <a href="http://yhoo.client.shareholder.com/press/management.cfm">let&#8217;s not leave out Yahoo</a>. We have but one choice here (and someone who has reportedly been on Facebook&#8217;s list too): Hilary Schneider, its EVP, Global Partner Solutions. In other words, the revenue person.</p>
<p><img src='http://kara.allthingsd.com/files/2008/02/hilary_schneider_thumb.jpg' alt='hilaryschneider' /></p>
<p>The former Knight-Ridder exec (pictured here) is well liked at Yahoo and is also steeped in the world of media, which is important to Facebook. While probably a keeper for Microsoft, it might not be her first choice to stay after a forced merger. </p>
<p>There are a lot of other choices&#8211;in fact, I am completely leaving out the many media execs who might be good, as well as some longtime Silicon Valley entrepreneurs who would get along a lot better with Zuckerberg.</p>
<p>Off the top of my head: former AOL head Jon Miller; former Yahoo execs Ellen Siminoff and Jeff Mallett; CBS dynamo Quincy Smith; former When and Ofoto entrepreneur James Joaquin; Fox Interactive Media&#8217;s Peter Levinsohn; and many more.</p>
<p><img src='http://kara.allthingsd.com/files/2008/02/andreesen_timecov.jpg' alt='marcandreessentime' class='alignleft'/></p>
<p>But why not go for the man who was Zuckerberg before Zuckerberg was cool. Yes, the shiniest of Golden Geeks himself, <a href="http://blog.pmarca.com/">Marc Andreessen</a> (pictured here on the iconic Time magazine cover in 1996).</p>
<p>I could go on and on about the similarities I find between the two, if you compared today&#8217;s Zuckerberg with the Netscape founder in the mid-1990s.</p>
<p>From their arrogant innocence to their visionary qualities to their enfant-terrible charm, it is almost as if they were separated at birth.</p>
<p>But now Andreessen is all grown up and much, much matured from when I covered him. He has become all calm and sage and he even does a very decent blog.</p>
<p>Plus, he has also started and run a number of start-ups after Netscape, giving him deeper managerial experience over the last dozen years.</p>
<p>And, best of all, Andreessen knows the pressure of being the best-thing-since-sliced-bread in the tech sector, and its inevitable downside too. </p>
<p>Overall, a real mentor and partner for Zuckerberg, making a perfect pair of Golden Geeks.</p>
<p><em>Please see <a href="http://allthingsd.com/about/kara-swisher/ethics/">this disclosure</a> related to me and Google.</em></p>
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		<title>Peter Thiel as Michael Corleone? Pass the Cannoli!</title>
		<link>http://kara.allthingsd.com/20071120/peter-thiel-as-michael-corleone-pass-the-cannoli/</link>
		<comments>http://kara.allthingsd.com/20071120/peter-thiel-as-michael-corleone-pass-the-cannoli/#comments</comments>
		<pubDate>Tue, 20 Nov 2007 13:01:33 +0000</pubDate>
		<dc:creator>Kara Swisher</dc:creator>
				<category><![CDATA[BoomTown]]></category>
		<category><![CDATA[Internet]]></category>
		<category><![CDATA[Kara Swisher]]></category>
		<category><![CDATA[digital]]></category>
		<category><![CDATA[Fortune]]></category>
		<category><![CDATA[mafia]]></category>
		<category><![CDATA[Max Levchin]]></category>
		<category><![CDATA[PayPal]]></category>
		<category><![CDATA[Peter Thiel]]></category>
		<category><![CDATA[Slide]]></category>

		<guid isPermaLink="false">http://kara.allthingsd.com/20071120/peter-thiel-as-michael-corleone-pass-the-cannoli/</guid>
		<description><![CDATA[Fortune had an interesting article by Jeffrey M. O&#8217;Brien on the links between and among the various alumni of the PayPal online payment service, focusing on the Mafia-like aspects of their affiliation.
Actually, after reading it, with all the silly sniping among some of them (now all apparently resolved), it sounded to me more like the [...]]]></description>
			<content:encoded><![CDATA[<p>Fortune had an interesting <a href="http://money.cnn.com/2007/11/13/magazines/fortune/paypal_mafia.fortune/index.htm">article by Jeffrey M. O&#8217;Brien on the links between and among the various alumni of the PayPal</a> online payment service, focusing on the Mafia-like aspects of their affiliation.</p>
<p>Actually, after reading it, with all the silly sniping among some of them (now all apparently resolved), it sounded to me more like the infighting of a particularly catty sorority than the back room of the Bada Bing.</p>
<p>But it is an interesting example of how insular Silicon Valley operates, creating new companies out of the carcasses of old ones and how important the roundelay of interconnections can be&#8211;in this case, stretching from PayPal to Yelp to Digg to YouTube to Facebook.</p>
<p><img src='http://kara.allthingsd.com/files/2007/11/paypal_mafia03.jpg' alt='paypalmafia' /><img src='http://kara.allthingsd.com/files/2007/11/levchin_thiel03.jpg' alt='levchin-thiel' /></p>
<p>But the photos of the former PayPal group (pictured here at San Francisco&#8217;s famed Tosca) playing dress-up as nerdy gangsters was a nice touch, as was the shot of investor Peter Thiel as capo di tutti capi and Max Levchin, now running hot widget maker Slide, as his consigliere. </p>
<p>But if you want to see them both in more normal action, here&#8217;s a video interview I did recently with Thiel and a three-part one I did with Levchin. </p>
<p><strong>Peter Thiel:</strong></p>
<p><embed src="http://services.brightcove.com/services/viewer/federated_f8/452319854" bgcolor="#FFFFFF" flashVars="videoId=1284277068&#038;playerId=452319854&#038;viewerSecureGatewayURL=https://services.brightcove.com/services/amfgateway&#038;servicesURL=http://services.brightcove.com/services&#038;cdnURL=http://admin.brightcove.com&#038;domain=embed&#038;autoStart=false&#038;" base="http://admin.brightcove.com" name="flashObj" width="380" height="313" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed></p>
<p><strong>Max Levchin, Part 1:</strong></p>
<p><embed src="http://services.brightcove.com/services/viewer/federated_f8/452319854" bgcolor="#FFFFFF" flashVars="videoId=1184484943&#038;playerId=452319854&#038;viewerSecureGatewayURL=https://services.brightcove.com/services/amfgateway&#038;servicesURL=http://services.brightcove.com/services&#038;cdnURL=http://admin.brightcove.com&#038;domain=embed&#038;autoStart=false&#038;" base="http://admin.brightcove.com" name="flashObj" width="380" height="313" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed></p>
<p><strong>Max Levchin, Part 2:</strong></p>
<p><embed src="http://services.brightcove.com/services/viewer/federated_f8/452319854" bgcolor="#FFFFFF" flashVars="videoId=1184473439&#038;playerId=452319854&#038;viewerSecureGatewayURL=https://services.brightcove.com/services/amfgateway&#038;servicesURL=http://services.brightcove.com/services&#038;cdnURL=http://admin.brightcove.com&#038;domain=embed&#038;autoStart=false&#038;" base="http://admin.brightcove.com" name="flashObj" width="380" height="313" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed></p>
<p><strong>Max Levchin, Part 3:</strong></p>
<p><embed src="http://services.brightcove.com/services/viewer/federated_f8/452319854" bgcolor="#FFFFFF" flashVars="videoId=1184676803&#038;playerId=452319854&#038;viewerSecureGatewayURL=https://services.brightcove.com/services/amfgateway&#038;servicesURL=http://services.brightcove.com/services&#038;cdnURL=http://admin.brightcove.com&#038;domain=embed&#038;autoStart=false&#038;" base="http://admin.brightcove.com" name="flashObj" width="380" height="313" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed></p>
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