Dan Schulman, Youtube screenshot
February 17, 2023
PayPal lost $6 billion in valuation during a stock market selloff as thousands of users canceled their accounts. The sell off came after PayPal deplatformed organizations and commentators for their political views and proposed imposing $2500 penalty for violations to its acceptable use policy that would have banned the promotion of “misinformation,” as well as “hate, violence, racial or other forms of intolerance that is discriminatory.” PayPal claimed that the guidelines were published “in error.” PayPal CEO Dan Schulman, who has been the CEO since 2014, announced that he would retire from the financial services platform at the end of the year.
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