Aged Like Milk

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A community dedicated to all those things in media and elsewhere that didn’t stand the test of time, at all.

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“PayPal’s leadership had everything under control” - 2023 (i.redd.it)

submitted 2 months ago by solidheron@sh.itjust.works to c/agedlikemilk@sh.itjust.works

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Fast forward to 2026: PayPal just fired its CEO, the stock is sitting at its lowest level since 2017 (sub-$44), and the company is trading at ~7.4x forward earnings.

A few years ago, the narrative was that PayPal was a long-term fintech winner with strong leadership and a durable moat. That did not age well.

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[–] jacksilver@lemmy.world 22 points 2 months ago (1 children)

I was curious so read into it.

It seems like they never figured out how to do the seamless checkout that Google wallet and Apple Pay provide and also seem to being out maneuvered by Stripe too.

I always thought their big play was being another payment platform outside of Visa and Mastercard, but maybe they never leveraged that the way I thought they should.

[–] SendMePhotos@lemmy.world 6 points 2 months ago (2 children)

Don't they own venmo though? The QR Code payment is super quick and convenient.

[–] jacksilver@lemmy.world 8 points 2 months ago (1 children)

You are right that they also own venmo - https://en.wikipedia.org/wiki/Venmo.

So yeah, not sure how they haven't been able to monetize that.

[–] DragonTypeWyvern@midwest.social 6 points 2 months ago

They monetized it as a data farm instead of a financial service, which was fine when literally everyone isn't running a data farm

[–] nocturne@slrpnk.net 3 points 2 months ago* (last edited 2 months ago)

~~Pretty sure block owns Venmo, who also owns square.~~ Block owns cash app, not Venmo.