Paypal Won't Exist In 5 Years. Here's Why.

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This is the story of Paypal's bad business model, and why Paypal was doomed to fail from the start.

This video will tell the story of the tragic tale of Paypal and why paypal is losing money and seeing its stock crash, this is an important lesson in finance, money and business.

[LarsLarsen]

They didn't make a u-turn on the announcement. ITS STILL IN THEIR TERMS OF SERVICE! The "mistake" they made in announcing it was WHY they're doing it, not WHAT they're doing. The $2500 fine is still there.

[cquickk]

As a former dropshipping entrepreneur, I can attest the main problem we all had was paypal locking our funds for no reason whatsoever. They just decided we’re “suspicious” and wouldn’t unlock them until we have numerous disputes opened one after another. Often re-opening a dispute even though we’ve already resolved the issue. Papal killed many of our stores and I’m wholeheartedly happy they will go down in the dumps. Hope those bastards lose all their money in all their ventures and go work at a bank

[emeraldxtouch]

PayPal has extortionate fees, no customer support and wants to control free speech. What could go wrong?

[Dexter]

Just the fact they claim they will charge you 2.500$ in "damages" for transaction that breaks their TOS no matter how small such movement was, is just downright criminal. I've seen felony tax evaders paying less for escaping paying taxes by the thousands after a proper court reviewal, but one might end up paying downright two grands and a half for commissioning a 30$ worth picture that features a character with a nipple out because it breaks Paypal's ToS?

[Mazxlol]

if PayPal can take my money simply due to "wrong" political views there is no way I'm keeping any money there...

[ladyalicent]

I love Moon because not only is he one of the only people speaking about this kind of stuff, but out of the very few people that do, he is the *ONLY* one who isn’t actively becoming what he seeks out to destroy (unlike Jake Tran for example)

[hadesedits]

It's crazy how all these companies end up losing money while chasing money every time

[peir]

I used to use PayPal for all online transactions. But about 3 years ago, they started flagging most of my purchases as fraudulent.. leading to constant freezes on my debit card. This became such a hassle that I had to stop using their service.

[AmberCommentsThings]

Honestly this downfall is completely deserved, and it's hilarious

[prestongarvey]

I hate PayPal. I used to sell quite a bit on eBay and they way they handle claims is just ridiculous. It takes hours to get a hold of someone, you have to call leave a message and wait for a call back and sometimes I'd answer and nobody would be on the line, had to call again and wait for the call back. They want so much stuff like bank statements just to not freeze your account. I've even deposited money buy paying at a local store and they froze my account for unusual behavior. eBay had its own seller fees and you had to pay PayPal's fees as you had no other option besides not sell on eBay. I think paypal had become synonymous for scammers as they trick people to send money using friends and family which you can't dispute. If anyone ever requests friends and family, you should know it's a scam

[youtubeburr]

All these major companies that a few years ago were seen as the future are now slowly crumbling. I’m lowkey worried about what will fill the void.

[tarotreadingsbysteven]

I stopped using them a few years ago. I sell baked goods and when a "customer" bought a cake from me then a few days later claimed to PayPal they never received the cake. I had proof they had gotten a cake and that they had not tried to contact me to replace the item but that didn't matter. All that mattered to PayPal was that the customer claimed with no proof they had not gotten the cake they had in fact gotten. After being out money and ingredients I decided never again would I work with a company that you can't talk to a human person with because algorithms can never replace human judgement.

[stumble_leiner]

There is no advantage to using it anymore, literally most people use it so they don't have to bother entering card details, but now most devices and browsers save this for you anyway, so logging in to PayPal at checkout is slightly more inconvenient.

[owens.]

The fact that a corporation can take your money for any reason they want is fucking terrifying. The fact that the government allowed this is even scarier.

[aj]

FYI….PayPal reinstated the misinfo into their policy

[jobsjob]

Many artists used PayPal for commissions as it was easier and safer than writing checks but PayPal would shut down artists PayPals because digital art wasn't considered under its policy so it would shut down artists accounts and use the money on their account to buy stocks which obviously messed up their reputation badly

[ericvulgate]

A couple years ago they sat on my money for several months and there was never an explanation forthcoming during or after the incident. I closed my account after that.
Paypal adds nothing to a transaction it just interferes with the movement of money.

[nonchablunt]

The biggest weakness of paypal has always been that what they do is so extremely easy to replicate.

[johnettipio]

The day after the news broke that they were going to fine people for wrong think, I read the policy myself and cancelled my account.

[joshuathomas]

I dumped my PayPal the moment the world economic forum put this in. Social credit should be fought at every single opportunity.