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.
I think I was really lucky to work as a little kid at PayPal, grew up in the Valley as a coder.
PayPal is a business that will be bigger than eBay.
More people are using PayPal more frequently.
PayPal benefited tremendously from having a close partnership with the eBay marketplace. It was a natural fit at the time.
We're really thinking how do we re-imagine PayPal almost as a service. PayPal as a SaaS platform.
We are excited to see how PayPal's global payment platform can help small businesses in Cuba thrive and grow by making it easier to connect to international markets.
Elon Musk with PayPal revolutionized banking.
I had a guy on Facebook for, like, years just asking if he could PayPal me money, and of course I have to say no when, really, I'm just like, 'Why wouldn't I? He doesn't want anything for it.'
We had a mission at PayPal - which was to create a new financial system, a new world currency, and we failed. We were a financial success, but we didn't succeed at the purpose of our company.
For merchants, it is an amazing opportunity. Compared to Paypal, crypto has no credit card fees, no charge backs, no 'Oops, we decided to hold your cash for 3-12 months while we investigate something we can't disclose.'
Venmo is one of the jewels of Paypal.
For me, the international expansion of eBay was the best idea. We are now in 35 countries, and have a huge global network. The second best one was the acquisition of PayPal - the wallet on eBay.
One of the things we did at PayPal was collaborative filtering and machine learning: looking at patterns of human behavior. We used it there to predict when people would try to cheat the system to get money. But you can predict pretty much any behavior with a certain amount of accuracy.
Being able to access that Stanford alumni network was huge - I actually interned at PayPal while I was at Stanford and learned a lot. Being in that environment and learning about it as a student was really fun.
Software is eating the financial services industry. We have a large addressable market for PayPal to play in.
Technologies like PayPal foster competition because they enable people to shift their funds from one jurisdiction to another, and I think that ultimately will lead to a world in which there's less government power and therefore more individual control.
Credits in your PayPal account are really just USD-backed - they are not a unique currency themselves. Other 'digital currencies,' such as Facebook Credits, can be created out of nothing and without limit, so they are not serious money.
If I had known how hard it would be to do something new, particularly in the payments industry, I would never have started PayPal. That's why nobody with long experience in banking had done it. You needed to be naive enough to think that new things could be done.
Even by Silicon Valley standards, PayPal's vision was massively ambitious.
PayPal once rejected a candidate who aced all the engineering tests because for fun, the guy said that he liked to play hoops. That single sentence lost him the job.
As you start building the product, don't assume that you know all the answers. Listen to the community and adapt. We had a lot of our own ideas about how the service would evolve. Coming from PayPal and eBay, we saw YouTube as a powerful way to add video to auctions, but we didn't see anyone using our product that way, so we didn't add features to support it.
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.
It's clear to me now that Ethereum is the new currency of the Internet. It's way ahead of where Paypal was in its day, and it's much more exciting to its customers than Paypal ever was.
Nowadays people talk about PayPal's founders as prescient geniuses who would inevitably change the world. It was, however, not so obvious that PayPal would taste its first major success by helping people sell Beanie Babies on eBay. But they had a vision, a hope, and the perseverance to try multiple iterations until they got it right.
I often talk about the PayPal mafia out of San Francisco, people that were in PayPal and got out of PayPal and continue to reinvest in other start-ups and create a huge pay-it-forward type of network there.
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.
Of the six people who started PayPal, four had built bombs in high school.
Pink Friday Eminem 8 Mile, It must hurt to sell your album on Paypal.
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.
PayPal's been around forever. How do we use that platform to solve the future of commerce?
If you allowed PayPal to pursue its destiny, there are moves it could make to become the largest financial company in the world.
PayPal came within an inch of being shut down by regulators when they started. The feds seizing the Dwolla account and stealing the money that is owned by Mt. Gox customers is more proof that Bitcoin is the superior payment system.
The moment we put up the PayPal button, some guy donated $300. That's when we realized that if you give somebody a chance to support something on the Internet, they'll do it.
I've been lucky enough to be involved in a number of great startups, including eBay and Wikia as an entrepreneur and LinkedIn and Paypal as an investor.
With PayPal, you have to send people over to their website... whereas with Stripe, we offer a way to integrate payments into the website, on the website or into a mobile app. That is what all the best businesses care about, so we make it very easy, very fast, very simple and very cheap to do this.
Elon Musk is an incredibly prolific entrepreneur, having come up with, or been at the founding team of Tesla, SpaceX, SolarCity, PayPal, all different industries that seem to have nothing to do with each other.
PayPal claims it can help merchants expand into international markets; its system makes it easier to do business with customers in multiple countries, for example, by handling tricky stuff like currency conversions automatically.
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.
PayPal was disruptive, it was democratizing, and it had universal appeal. It gave power to millions and millions of individuals and reduced monopolist control from nations, banks, and other huge corporations.
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.
I've got a number of stories written so far in that mythos, more lined up to be written, and a narrative arc taking shape between them. I was experimenting with releasing the stories online for Paypal donations, so the existing ones are currently available via the blog for free download, but the ball didn't keep rolling in terms of meeting the targets I was setting.
My life has become extremely hard. I am banned on Twitter. I'm banned on Uber. I'm banned on Lyft. I'm banned on Venmo. I'm banned on GoFundMe. I'm banned on PayPal. I'm banned on Uber Eats. I can't even order a sandwich.
Ten Internets ago, when PayPal was started, it was all these tools that no one had built yet to bring commerce to the Internet. My first startup used PayPal.
After PayPal, I never thought I would get interested in payments again. But bitcoin is fulfilling PayPal's original vision to create 'the new world currency.'
PayPal exists because banks are not interoperable: I can't efficiently pay you $10 unless I'm giving you a $10 bill. So we're all on PayPal and Venmo, I need interoperability on the same ledger.
Going from PayPal, I thought: 'Well, what are some of the other problems that are likely to most affect the future of humanity?' Not from the perspective, 'What's the best way to make money?'
I wanted to be a venture capitalist and join Sequoia Capital. They've financed and helped built some really special and enormously successful companies, including Google, Yahoo, Paypal, YouTube, Cisco, Oracle, Apple, and also Zappos.
There's a herd instinct, and every time that people hear an announcement such as PayPal's in Dundalk, they start thinking, 'Ireland must be good if they're investing there', and by extension, 'Dundalk must be good, so let's have a look at it.'
You can't get married to any one particular plan. That is the biggest lesson I learned at PayPal.
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.
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.
The Internet Treasure companies tend to go public rather than get acquired, although there are clear exceptions, like Instagram, YouTube, Skype and PayPal.
My personal experience with companies in the PayPal ecosystem taught me that a superb engineering culture is indispensable to building a winning business.
We're trying to make our software available to users in as economically efficient a way as possible. That means distributing the software directly to them; taking payment through Mastercard, Visa, Paypal, and other options; and not having a store take 30 percent.
One thing I would like to see in Vancouver and Canada is something similar to the PayPal mafia. They were all early employees of PayPal. They all had monster exits with PayPal, and they were able to take their winnings and form a syndicate that co-invests.
Technology has come a long way since PayPal.
PayPal, which was founded in 1998, may be the closest thing to a global currency that has ever been created. Based in San Jose, California, the company operates in 190 markets, sending and receiving payments in 24 currencies on behalf of 90 million active members.
A lot of hackers set up scam sites. They can impersonate a site like PayPal, for instance.
I think if you look at the commonalities between eBay, PayPal and OpenTable, all three are businesses that built a network in a vertical. Network effect businesses are very attractive businesses.
This site uses cookies to ensure you get the best experience.
More info...