The Hell with the PayPal Mafia


Twitter CEO Elon Musk was one of the founders of PayPal, once called X.Com. EBay bought it in 2002 for $1.5 billion. Mr. Musk suggested on Tuesday that his firm is working on a payment processing system to compete directly with PayPal. PayPal needs to land in platform Hell with MySpace, Zinga, Digg, DigiCash, and E-Gold.

Mr. Musk founded it with Peter Thiel, David Sacks, and Max Levchin, all serious free-speech advocates. Unfortunately, PayPal is now run by the PayPal Mafia. The original PayPal goal was to connect people to the global economy by sidestepping the hefty fees charged by credit card companies and the inflationary policies of poorly run governments. It gave people the flexibility to switch currencies and evade corrupt governments.

Unfortunately, PayPal is now itself corrupt. It’s law enforcement for progressives.

Twitter user @cb_doge wrote, “The man who reinvented the payment system back in 1999 is all set to do it again.”

Musk then responded by stating, “It’s gonna be great.”

Rupa Subramanya posted an article in The Free Press, Bari Weiss’s substack publication, “What the Hell Happened to PayPal?”

His article begins:

One by one, they go to start their business day only to find a baffling message from their payments app informing them: “You can no longer do business with PayPal.”

There is little or no explanation. They have somehow offended the sensibilities of someone somewhere deep inside the bureaucracy.

They are simply told via an email from PayPal’s Risk and Compliance Department that, after an internal review, “we decided to permanently limit your account as there was a change in your business model or your business model was considered risky.”

In case there is any doubt, the email adds: “You’ll not be able to conduct any further business using PayPal.”

Then, toward the bottom: “If you have funds in your PayPal balance, we’ll hold it for up to 180 days. After that period, we’ll email you with information on how to access your funds.”

You can appeal to customer service but you need a lawyer to appeal the ban. They won’t tell anyone how many were banned, not even to the civil liberties group, The Electronic Frontier Foundation.

PayPal wants customers who focus their politics on race and gender, support the Covid lockdown, and believe the war in Ukraine is noble. Silencing unbelievers is a force for good.

As an aside, Ms. Weiss has a new website in conjunction with other free speech advocates.

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11 months ago

It’s Pretty Clear that Musk Has some major plans for Twitter. Liberals are probably going to unleash Monopoly and anti-Trust laws on him.