It’s Official, PayPal has chosen to go back on its previously announced decision to issue fines to the tune of $2,500 for violating its terms of service in the wake of Elon Musk, along with a former executive from its own company, led a crusade of extreme criticism again the company’s choice via social media.
In a post from this past Saturday, David Marcus, the former president of PayPal, denounced the new policy that would apparently allow the titan in digital payment processing to issue a fine of $2,500 against its users for posting things that “promote misinformation” or “present a risk to user safety or wellbeing.”
As one of the co-founders of PayPal, Elon Musk expressed that he stood in agreement with the criticism from Marcus, joining a large group of people who have recently taken to speaking out against the new policy across social media.
“It’s hard for me to openly criticize a company I used to love and gave so much to,” stated Marcus via social media. “But @PayPal’s new AUP goes against everything I believe in. A private company now gets to decide to take your money if you say something they disagree with. Insanity.”
“Agreed,” expressed Musk in a reply to Marcus.
Agreed
— Elon Musk (@elonmusk) October 8, 2022
The various criticisms coming from both Marcus and Musk, previously a member of the board of directors and the CEO of PayPal for a short period as part of its early days, led the charge at the front of a massive wave of backlash to the new policy.
“Get your money out of [PayPal] right now,” explained David Sacks, a venture capitalist.
“Seriously, close your PayPal account immediately if they don’t reverse this today,” answered Scott Adams, who is the creator and writer of the famous comic strip “Dilbert.”
“Why would anyone use @PayPal ever again?” explained conservative commentator John Cardillo. “They’ve flat out told you they’re going to steal your money if you disagree with the regime.”
“The ‘misinformation’ police are now extending their reach beyond your social media accounts and into your financial accounts,” stated Vivek Ramaswamy, an author and entrepreneur.
“PayPal probably isn’t protected by Section 230, so it could face legal liability in states with political nondiscrimination statutes,” stated Ramaswamy later. “It’s an easier case to make than against a social media platform.”
“Orwellian. Paypal reserves the right to take your money if you post a message that Paypal decides is ‘misinformation,’” stated the former commissioner of the FCC, Brendan Carr. “This is why it is so vital that state and federal legislatures pass laws that prohibit discrimination by tech companies and protect free speech.”
“’PayPal mafia’ was supposed to be an endearing reference to the company’s alum—not a business plan,” continued Carr.
The massive backlash forced PayPal to pull back on its policy. “An AUP notice recently went out in error that included incorrect information,” explained the company in a release, obtained by Caroline Downey, a reporter for National Review. “PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. Our teams are working to correct our policy pages.”
🚨FROM PAYPAL SPOX:
“An AUP notice recently went out in error that included incorrect information. PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. Our teams are working to correct our policy pages.”
— Caroline Downey (@carolinedowney_) October 8, 2022
