In the past, it took PayPal six to nine months to develop and launch a product, partly because there was a long application process to assemble the required teams of employees. After products were released, engineers and developers moved on to other projects. That meant any problems with new products took a long time to update and fix, Marcus said. Marcus' new approach involves giving smaller groups of engineers and designers the freedom to coalesce quickly and release early versions of products that will be tested with a small sub-set of PayPal users and updated quickly, he said. 'JOLTED' Hill Ferguson, PayPal's new head of global product, and Chief Technology Officer James Barrese oversee the new, single-product development group. "We had multiple different product teams coming to me with their ideas and requests, which was crazy," Barrese said. "We brought that all together and can make much swifter decisions. Hill and I sit in a room and decide to do something and it's done."