By 2002, about 25% of all eBay transactions were completed using PayPal, inspiring the business to buy PayPal for $1.5 billion that same year. Afterward, eBay integrated PayPal into its services. Online business eBay soon heard about PayPal and implemented the company’s technology into its marketplace. “Most of the ordinary people there never have an opportunity to open an offshore account or to get their hands on more than a few bills of a stable currency like U.S. Peter also talked about the convenience of PayPal, allowing individuals to have a digital account with currencies across the world. In the twenty-first century, people need a form of money that’s more convenient and secure, something that can be accessed from anywhere with a PDA or an Internet connection. Paper money is an ancient technology and an inconvenient means of payment. Jackson wrote a book called The PayPal Wars, and in it, he recalled an inspirational speech by Peter: Everyone in the world needs money – to get paid, to trade, to live. Former PayPal marketing executive Eric M. The purpose and motivation for a money transfer service can best be summarized by a speech Peter Thiel made in 1999. The startup then evolved into a money transfer service that would change how people interacted with online payments. Over breakfast the day after they met, Peter agreed to invest in Max’s company after hearing about it. Max was a tech visionary who moved to Palo Alto, California and wanted to create a phone security software. One day, after giving a lecture at Stanford, Max Levchin approached Peter and proposed an idea for a company. After working as a law clerk for a year and then as a derivatives trader, he saved up enough money to start his venture. Peter then moved away from the legal field and developed an interest in building an empire. While there, Thiel became the first editor-in-chief of The Stanford Review and hosted a podcast with his buddy Reid Hoffman. Peter studied at Stanford University, where he got his BA in Philosophy, and later earned his law degree.
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