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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[–] 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.