So what, though? You don?t get advances without a lot of failures, and in general, the winners will beat the losers. The last tech bubble produced Pets.com, but it also gave us Amazon, eBay, and PayPal. What?s more, people who made their money in those companies went on to fund the Valley?s latest crop of pioneering firms. Peter Thiel, one of the co-founders of PayPal, was instrumental in the founding of Facebook. And Elon Musk, another PayPal guy, went on to co-found the private space company SpaceX and the electric-car maker Tesla Motors?two firms that could radically alter transportation on the planet and beyond.
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