Reid Hoffman
Contents
Summary
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Reid Hoffman is one of the most influential individuals in the development of modern-day connections via internet-based platforms.
- Reid Before Tech
- Paypal
Paypal
Before founding Linkedin, Hoffman joined an internet startup that focused on sending money electronically from person to person. This was a revolutionary idea, as credit cards were the most novel "electronic currency" at the time. However, Paypal began to grow, and Hoffman remained alongside Paypal until its eventual sale to Ebay for $1.5 billion. The group of people that were part of Paypal include some of the most impactful entrepreneurs, investors, and technologists of the 21st century, including Peter Thiel, Elon Musk, Steven Chen, and Chad Hurley. These individuals were deemed the "Paypal Mafia", as they all went on to develop major followings and influence in their respective fields of work.
One of the uniting characteristics about these men was their desire to change the world. Making connections, converting to electric vehicles, individualizing video-streaming, all of these men have played an integral role in the formation of the technologically integrated environment in which society lives.
Coincidentally, Hoffman was approached with the opportunity to invest in a company that paralleled his vision for growing the world through mutual connectivity via an internet platform. In 2005, he had the opportunity to invest in a budding social media platform that was supposedly a hot commodity on campuses across the United States. Having a reasonable fortune from the sale of PayPal years earlier, he made a small investment in the company. Additionally, he connected the budding company with his good friend and fellow PayPal Mafia member Peter Thiel. Peter Thiel ended up being one of the largest contributors to this company's seed round of funding. Years later, the company grew and grew, netting both Hoffman and Thiel many millions of dollars. This company turned out to be Facebook.
Overview of the site
LinkedIn is first and foremost a site for managing one's professional network. A profile features a photo of the individual, a brief bio, and various information about their education history, work history, and skillsets. For many, crafting an aesthetic, informative LinkedIn profile is just as important as the experiences and skills that underlay these things.
Hoffman's Impact
Linkedin is perhaps Hoffman's greatest legacy, as he is the founder of the company. Hoffman had always wanted to create a company based around connecting individuals. In 1997, he was compelled to create a website called SocialNet. This was an internet-based platform on which people could meet for anything from tennis partners to dates. Many say that his ideas were just a few years too early, as the emergence of Facebook, online dating sites, and other connectivity platforms largely started to emerge in the mid-2000s. Hoffman had the entrepreneurial itch since day one. That, coupled with his desire to connect the world via the internet made his founding of linkedIn inevitable.
How Linkedin changed the Professional World
Linkedin was intended to be a platform for professionals to connect and maintain a relationship via the internet. Instead of seeing a "hiring" poster or getting referrals by word of mouth, LinkedIn allowed individuals seeking jobs to be able to reach out to their connections or make public posts to see whet Hoffman's
Ethical Impacts of Linkedin
Recruiting
Linkedin has changed how students and others trying to change jobs interact with the job market.
Networking as a commodity
There are various status symbols that
Privacy Management
As many people know, Linkedin is a great way for people to get their name out there. When you Google someone, their Linkedin page is often the first page to appear, which, for many, is preferred over a personal social media profile that may reveal some unnecessary personal information about a potential job candidate.
