Home Tech Do tech mafias need a modern refresh? – TechCrunch

Do tech mafias need a modern refresh? – TechCrunch

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Rumor has it, if you whisper mafia to a venture capitalist or tech reporter, a seed investment and headline appears within minutes. That process quickly turns into seconds if the mafia reference includes the letters S, T, R, I, P and E before it.

Tech mafias, otherwise known as a group of early employees within a company who spin out to start their own, independently successful companies, became a popularized term thanks to PayPal in the early 2000s. As my lede alludes, the term has since become a cliche of sorts. Everything is a mafia, including you, dear Startups Weekly newsletter subscribers. Jokes aside, I’d argue the term is still a helpful way to track the way talent moves in the ever-growing world of startups.

Many venture capitalists have been making subtle, and not-so-subtle efforts, to back the next cohort of star employees turned star entrepreneurs. Wave Capital originally began as an institutional venture capital fund explicitly for…

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