Ben Freeman's Bet on the Next PayPal Mafia

Imagine telling your boss you want to quit and start your own company and your boss offers money to do it.

That's exactly what Ben Freeman is promising employees at Omnea, the AI-powered procurement startup he founded. Backed by $75 million from investors including Accel and Khosla Ventures, Freeman has launched a venture fund to help employees become entrepreneurs themselves, offering startup capital, office space, and access to a network of more than 150 investors and business leaders.

Freeman tells Sand Hill Road host Scott McGrew why he's willing to finance the departure of his best people, how interviewing 10,000 candidates to hire just 50 employees fits into his strategy, and whether he's creating the next PayPal Mafia — or potentially funding his own competition.