Propelled by these epic feats—clever software, endurance, nutty work hours—the PayPal crew developed a proud sense of having won the gold ring in the meritocracy of Silicon Valley. While most other high-tech firms were collapsing in the dot-com bust of the early ’00s, PayPal was soaring. It successfully went public, then was bought by eBay for $1.5 billion, making its founders remarkably wealthy. PayPal, the vice president Keith Rabois proclaimed, was a “perfect validation of merit.” As he told the journalist Emily Chang: “None of us had any connection to anyone important in Silicon Valley. . . . We went from complete misfits to the establishment in five years. We were literal nobodies. People wouldn’t talk to us.”