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The very first company I started failed with a great bang. The second one failed a little bit less, but still failed. The third one, you know, proper failed, but it was kind of okay. I recovered quickly. Number four almost didn't fail. It still didn't really feel great, but it did okay. Number five was PayPal.

Max Levchin

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Max Levchin
Age: 49
Born: 1975
Born: July 15
Businessperson
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Entrepreneur
Web Development
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A classic engineering mistake and one I've made is confusing what is hard and what is valuable.
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If you can work a brand successfully into the narrative of your product, then it's really cool. Then people actually take the brand up and say, 'My positive experience in your product is directly connected and influenced by this brand and that worked great.
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If you're building a social product, you're still living in the last century if your product doesn't work on Facebook.
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You can't get married to any one particular plan. That is the biggest lesson I learned at PayPal.
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We're becoming slaves to our social networks - and that's not a bad thing. You like your favorite networks, so do you friends, and pretty soon you have market winners.
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Facebook is so ubiquitous now that it's like another manifestation of the web itself.
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