Top 76 Quotes & Sayings by Dan Schulman
Explore popular quotes and sayings by an American businessman Dan Schulman.
Last updated on December 21, 2024.
The difference between online and offline commerce is basically blurring and disappearing.
We believe digital payments are making financial services more universally affordable, accessible and, therefore, have the opportunity to drive financial inclusion and financial health for billions worldwide.
There's always some potential vulnerabilities in any system.
Before I became the president of AT&T's consumer division, I was running strategy and our internet services, so I was the president of one of the first internet service providers, ISPs, AT&T Worldnet, and running our internet protocol product development as well. So I knew a lot about what was going on with the internet.
When I first went into financial services, people told me not to be too over-optimistic about change.
Personal and mobile computing, long-distance communications, energy storage, and air travel are just a few of the things that have been democratized by technology, creating new possibilities for billions of people.
I think what we really need to think about is how do we reimagine the management and movement of money in an era where everyone will have a smartphone.
In many ways, leadership is about defining reality and inspiring hope, but if you have these great people around you and they know that what they do is going to be recognized, it can be incredibly powerful.
My team and I tried cashing checks at check-cashing places and paying bills by money order. It's incredibly inconvenient and time-consuming - it's practically a part-time job just to manage and move your money.
I think that the world is going to remain a very interconnected place. I don't think there's any getting away from that. The Internet has brought us closer together. I think cross-border trade is going to continue to grow substantially. I think there may be certain trade agreements that can be renegotiated, one way or another.
I think a lot of people have predicted the demise of cash, and they've frequently been wrong. But there's no question that the smartphone is leading to the digitization of money. You really now have all the power of a bank branch in the palm of your hand.
More people are using PayPal more frequently.
Monetizing by creating more value for a Venmo user makes a ton of sense to me. But other forms of monetization that are more intrusive, like in advertising or something like that, the jury is really still out for me.
Managing and moving your money should be a right, not a privilege. This isn't about banking the unbanked. It's about re-imagining what consumer retail banking can be.
Too many people go into existing organizations and define success as recreating what is there. To be successful as a startup organization within a large, established culture, you really need to think about how you leverage the assets that are there.
PayPal benefited tremendously from having a close partnership with the eBay marketplace. It was a natural fit at the time.
It's so hard to predict the political environment. I think that business can't sit on the sidelines and just watch. I think we need to be a force for the values that we believe in. We need to partner with government and regulators.
On average, an underserved consumer spends 10% of their disposable income on unnecessary fees and interest rates.
We have the flexibility to work with any potential merchant partner across the globe.
We're trying to democratise financial services, to ensure that management and movement of money is a right for all citizens, not the privilege of the affluent.
Everyone has all the power of a bank branch in the palm of their hand. And so in that world of software at scale, theoretically the incremental unit cost of something at scale approaches zero.
The big problem retailers are facing is the world is moving to mobile.
I consider myself a good communicator and a good salesman.
I do think that in a digital future, consumers will increasingly turn to brands that they trust. Trust, security, and service are even more important in a digital world.
We have a very close relationship with Google. We extend our offerings to all the markets that we expand into.
I grew up in a progressive household with a family that believed in equality for all, and that leaves its mark on you. In the past, I planned to go into politics and never considered Wall Street as an option.
If you think about the under-30 generation, the millennial generation - GenTech, as I call them - they grew up with a screen in front of them. And so they think about everyday processes, like payments, differently than you and I do.
As CEO, I believe my most important job is to both define reality and inspire hope for the PayPal team. Defining reality includes being realistic about all the things that could go wrong so that we are prepared to navigate those challenges.
India is among the leaders in thinking about how technology can solve some of the problems about financial inclusion. But if you think that financial inclusion as a problem has a solution rooted in technology, it's obviously not the only thing.
I think we operate in a very dynamic marketplace, and as such, we need to constantly innovate.
As we think about the future, one of the things we will do is to make sure PayPal becomes the central part of consumers' lives, how we enable consumers to manage and move their money more efficiently, easily, and less expensively than some traditional ways.
When we were associated with eBay, it was surprising to me how many merchants were very reluctant to work with PayPal because we were accessing their data and their information, and they felt in some way, shape, or form they were competing with eBay.
A lot of people say that I'm an activist CEO. I just think I'm a responsible leader of a business.
I spent the first 18 years of my career at AT&T, and it was a wonderful place that kept me moving all the time. I mean, I started off as entry level a position as you can get at AT&T.
PayPal is a strong business: it has a strong balance sheet and free cash flows, and it will help us take a look at where we want to independently invest.
Online commerce is being replaced by mobile.
We're really thinking how do we re-imagine PayPal almost as a service. PayPal as a SaaS platform.
We take the privacy of our consumers' information as one of the most trusted things that people look to Paypal for, because when it comes to financial services, the single most important brand attribute you can have is trust.
Software is eating the financial services industry. We have a large addressable market for PayPal to play in.
I am a huge mixed martial arts practitioner.
There is absolutely no room for discrimination against anyone in our country or anywhere in world.
In the not-too-distant future, commerce is just going to be commerce. It won't be online commerce or offline commerce. It's just going to be commerce. And that will happen because of the phone.
My mom pushed me in a baby carriage at Martin Luther King rallies. My grandfather was a union organizer. And to me, there is no room - no room - for discrimination of any kind. To me, it's just an anathema.
If you want to have the best employees, there really needs to be a vision and a mission. Talent looks for a mission. And if you have the best talent, that's the single biggest competitive advantage any company can have.
No one can say that democratizing financial services is bad. It is good for communities, countries, the global economy, and educational progress.
Digital payments have already made it easier to move and manage money. While there's more work to do, the potential is real and understood.
I do think there's no substitute for really hard work. But I think the thing that launched my career at AT&T, I had a pretty tragic thing happen in my family. My sister died, and I was leading a big team at the time, and I had to take time off.
We cannot just rely on the public sector or the private sector. We all need to work together.
Physical money, whether it's checks or cash or credit card, are digitizing in front of us.
What we want to do to monetize Venmo is to add more and more capabilities. Anywhere you see a PayPal merchant, you can click on that button and actually use your Venmo account to check out at that merchant. Then we'll monetize that transaction exactly the same way we monetize a PayPal transaction.
We had grown too fast at PayPal. Our operating expenses had grown too fast... Growth covers a lot of sin. We want to grow without sin.
It's been with us for a millennium, and we'll still be carrying around cash for a long time to come. There'll just be less of it.
I think that sometimes people talk about disruption, and I've seen tons of startups come in as disruptors and then disappear. And I think what we need to do as an industry is think about a world that is dominated by mobile and software and not extrapolate from what was. And I think a lot of big companies tend to want to do that.
Our overriding mantra is to be customer champion.
The digitisation of money, the rapid expansion of internet access and, of course, the adoption of mobile phones have created the perfect conditions to make it easier, secure, and affordable to save, spend, give, and borrow.
We put people at the center of everything we do.
Our strategy is to provide even more value to users and tie the Venmo community into the PayPal merchant marketplace so that they can use Venmo to buy things.
We all have people who are literally one life shock away from going into a crisis. For many of us, we have a buffer in one way or another. We have a savings account, or we have credit that we can go to. The underserved don't have that luxury.
If we can provide a benefit and make money, it's a chance for us to expand the population of customers we serve, expand the products we put in the marketplace, and reinvent ourselves going forward.
In addition to my job at American Express, I'm also chairman of the board of Symantec, one of the leading players in anti-virus and cyber-crime prevention software, so I know firsthand just how sophisticated many of these attacks can be.
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