PayPal Backs Down

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So they wanted to fine customers $2,500 a pop for “promoting misinformation”–or, in plain English, for being… wrong. By “wrong” we mean “PayPal doesn’t want to hear it.”

In just a day PayPal’s stock shares dropped 6%, a PayPal ex-president was slamming his former company for trying to stifle dissenting opinions, and PayPal scrambled to declare the controversial policy was just… “an error” (https://www.reuters.com/business/finance/paypal-says-it-never-intended-fine-users-misinformation-bloomberg-news-2022-10-10/). They didn’t mean it–come on back, everybody.

I would imagine just about everybody is wrong about something every day–probably several times a day. Should you be fined for it–by a private business, no less? Can you imagine the screaming, the wailing, the gnashing of teeth we would have heard… if you could be fined for criticizing Donald Trump? But who ever gets shut down for promoting Far Left Crazy?

How long does Big Tech mean to maintain an adversarial relationship with half (or more–way more) of its customer base? How is this good business? “Buy Bigbee’s Bread–Unless You’re One Of Those Democrat Skunks Out There!” How does Big Tech get away with it? But of course no one would ever be allowed to insult Democrats.

Let’s just see how long it takes for PayPal to try it again.

2 comments on “PayPal Backs Down

  1. One cannot help but wonder how a private firm can decide that it has the right to levy fines. It’s time for people to find another online bank.

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