Quotes of All Topics . Occasions . Authors
Venmo is one of the jewels of Paypal.
Technology has come a long way since PayPal.
Elon Musk with PayPal revolutionized banking.
More people are using PayPal more frequently.
PayPal is a business that will be bigger than eBay.
Even by Silicon Valley standards, PayPal's vision was massively ambitious.
PayPal's been around forever. How do we use that platform to solve the future of commerce?
I think I was really lucky to work as a little kid at PayPal, grew up in the Valley as a coder.
You can't get married to any one particular plan. That is the biggest lesson I learned at PayPal.
We're really thinking how do we re-imagine PayPal almost as a service. PayPal as a SaaS platform.
Software is eating the financial services industry. We have a large addressable market for PayPal to play in.
PayPal benefited tremendously from having a close partnership with the eBay marketplace. It was a natural fit at the time.
If you allowed PayPal to pursue its destiny, there are moves it could make to become the largest financial company in the world.
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.
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.
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.
My personal experience with companies in the PayPal ecosystem taught me that a superb engineering culture is indispensable to building a winning business.
The Internet Treasure companies tend to go public rather than get acquired, although there are clear exceptions, like Instagram, YouTube, Skype and PayPal.
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.
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.
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.
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.
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.
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.'
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.
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.
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.
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.
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.
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.
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.
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.'
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.
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.
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.
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.
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.
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.
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.'
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.
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.
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.
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.
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.
Two-thirds of the world's population is unbanked or underbanked. Imagine if you had all your bank accounts shut down today, if you had all your credit cards shut off today, Paypal, Venmo, etc. What would life be like? And that's a problem that most of the world faces if you're in Latin America, Africa or South East Asia.
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.