When LinkedIn founder and PayPal mafia member, Reid Hoffman, went looking for a new car after eBay bought PayPal for $1.5 billion, he originally wanted to buy a really nice Audi S8.
He ended up changing his mind however, after hearing from one of his friends, he tells Bloomberg’s Emily Chang. Other members of the PayPal Mafia had celebrated the sale with Ferraris and other fancy trips, but he decided to get a nice (but much cheaper) Acura.
“I got pitched by a friend of mine on investing in a startup,” he says. “And I was like, well, would I rather buy the S8 or would I rather invest in the startup?”
The decision didn’t take him long.
“It was like, OK, what’s the cheapest nice car that I could buy, because I would actually rather spend my money investing in these companies that are transforming the world. And so that’s how I ended up buying the Acura.”
Watch the full interview here: Studio 1.0 – Reid Hoffman