Finance

The other PayPal mafia: 20 women who helped build the payments giant

Summary List PlacementGood morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today: The PayPal Mafia, with members like Elon Musk and Peter Thiel, has been well covered, but these 20 women also played a key role in the payment giant's early years.   SoFi is underwriting Chamath Palihapitiya's four new SPAC IPOs in a bid to disrupt elite Wall Street firm's stranglehold on the business.  The case for why stablecoins are cryptocurrencies best bet for usurping how we pay for things.  You're invited: Join us and learn how to navigate the complicated process of buying a home in today's hot...

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Summary List Placement

Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:

You’re invited: Join us and learn how to navigate the complicated process of buying a home in today’s hot market on Tuesday, June 22 at 12 p.m. ET — during a free, hour-long virtual event presented by Fidelity. Register here.

If you’re not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.

Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco


PayPal’s lineage isn’t just men. These 20 women played key roles early, then went on to do big things at Ancestry, Google, and LinkedIn.

White PayPal logo with a female/Venus symbol replacing the

The “PayPal Mafia” is one of the most influential clubs in Silicon Valley — and a group that has historically been male dominated. But women, too, played a key role at PayPal early on and went on to do big things. 

Meet 20 women who held influential positions at PayPal in its early days.


SoFi is underwriting Chamath Palihapitiya’s 4 biotech SPAC IPOs as the fintech looks to compete with Wall Street’s top investment banks

Anthony Noto

SoFi will underwrite the IPO of Chamath Palihapitiya’s new blank-check companies alongside bookrunner Morgan Stanley, as the fintech looks to break into a market dominated by top investment banks. More on that here.


Forget bitcoin and other hyper volatile cryptocurrencies. For everyday transactions, the future of money is stablecoins.

A volatile Bitcoin chart line with a stable Stablecoin chart line below it on a light green background

Unlike cryptocurrencies such as bitcoin and ethereum, stablecoins have held steady in recent bouts of crypto sell-offs — making them more reliable as a form of digitized money. Here’s what you need to know about stablecoins.


Morgan Stanley names new marketing chief and adds new wealth division leadership from E-Trade

Andy Saperstein, the head of Morgan Stanley Wealth Management.

Morgan Stanley has named new leaders in its wealth division as it integrates E-Trade. Get the full rundown of new hires.


Deutsche Bank just promoted 2 new heads of its ECM business in the Americas, including a key leader in the bank’s SPAC business

Christian Sewing

Ben Darsney and Justin Smolkin were named co-heads of equity capital markets in the Americas. Here’s what we know about the hires.


JPMorgan’s private bank CEO wants to hire as many as 1,500 advisors. Here’s the firm’s plan to double head count in five years.

david frame jp morgan

Private Bank CEO David Frame told Insider where and why the firm is pushing to expand. Here’s what he said.


Odd lots:

Meet the top law firms putting together blockbuster cannabis deals worth billions (Insider)

Amazon Explores Replacing JPMorgan in Credit-Card Tie-Up (Bloomberg)

Green Junk Bonds May Not Deliver Green Results (WSJ)

Protégés of Bill Hwang, behind epic Archegos collapse, plan new fund (NY Post)

Nomura Prime Brokerage Cuts to Spare Little in U.S., Europe (Bloomberg)

Farewell, Millennial Lifestyle Subsidy (New York Times)

Credit Suisse Scraps Plan to Back Trader’s Fund Amid Crises (Bloomberg)

Goldman Sachs partner Brennan set for exit to Rothschild (Financial News)

Gensler says SEC to review payment for order flow (FT)

Apollo Faces Canada Pension Review as Stain Outlasts Black (Bloomberg)

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