Confinity
An early PayPal predecessor company founded by Thiel and Levchin.
Where Confinity comes up1 episode or test
- 1Spots Bogas on cap tableA name he had seen nowhere else
- 2Leaves a voicemailNames Confinity in the message
- 3Bogas calls backEven though Thiel might not remember him
- 4Hears the chess storyInvested on the spot, told with delight
From Jimmy Soni on early PayPal history
What was said about Confinity
An early Confinity investor wrote Thiel a check because of his chess. Ed Bogas, a musician and chess player rather than a fund partner, invested on the spot because of how fiercely Peter Thiel played chess.
Jimmy Soni found Bogas's name on a cap table for an early version of the company, a name he had seen nowhere else. He left a voicemail naming Confinity and Bogas called back, telling the story "with real delight" even though Thiel might not remember him.
Confinity's freshest history comes from early staff and backers, not the founders. Soni argues that famous founders repeat rehearsed talking points. The untold material on early PayPal, 1998 to 2002, came from people like early investors, customer service staff and fraud fighters who rarely get interviewed.
He felt that period was undercooked even after reading Zero to One, The PayPal Wars and books on Musk and Reid Hoffman. Quote: "the most interesting stuff generally is going to come from people who don't ordinarily get the chance to be interviewed".
How to Write Like An Athlete | with Jimmy Soni | How I Write Podcast
An early cap table listing Confinity led Soni to Ed Bogas, a forgotten investor who called back after a voicemail and told a vivid story.
An early Confinity investor wrote Thiel a check because of his chess. Ed Bogas, a musician and chess player rather than a fund partner, invested on the spot because of how fiercely Peter Thiel played chess.
Jimmy Soni found Bogas's name on a cap table for an early version of the company, a name he had seen nowhere else. He left a voicemail naming Confinity and Bogas called back, telling the story "with real delight" even though Thiel might not remember him.
Confinity's freshest history comes from early staff and backers, not the founders. Soni argues that famous founders repeat rehearsed talking points. The untold material on early PayPal, 1998 to 2002, came from people like early investors, customer service staff and fraud fighters who rarely get interviewed.
He felt that period was undercooked even after reading Zero to One, The PayPal Wars and books on Musk and Reid Hoffman. Quote: "the most interesting stuff generally is going to come from people who don't ordinarily get the chance to be interviewed".
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