(Dmytro “Henry” Aleksandrov, Headline USA) PayPal CEO Dan Schulman announced that he would leave the company at the end of the year after the company was criticized for its “misinformation” policy that led to PayPal losing billions of dollars.
However, he said that the reason why he wants to retire is that he wants to devote more time to his “passions outside the workplace,” according to the Daily Wire. Schulman became the company’s chief executive in 2014 after he worked as enterprise growth president at American Express.
“I’m proud of what we have accomplished at PayPal and of the incredibly talented and committed people I work with every day,” he said.
“Together, we have reimagined financial services and e-commerce and worked to improve the financial health of our customers. PayPal makes a difference every day for its customers and communities and the company is positioned for a great future.”
The retirement comes months after PayPal, which has de-platformed multiple conservative organizations and commentators because their political views do not align with the company’s woke policies, had unveiled an upcoming change to its acceptable use policy that would have banned the promotion of the so-called “misinformation” and “hate, violence, racial or other forms of intolerance that are discriminatory.” Later on, the company that wanted to impose $2,500 penalties for having a different opinion claimed that the guidelines were published “in error.”
Because of these woke policies, the company lost $6 billion in valuation during a subsequent stock market selloff, since thousands of people decided to not support the company that hates them and their views by canceling their accounts.
PayPal lost $6 billion in valuation during a subsequent stock market selloff as thousands of users canceled their accounts.
Schulman who still represents the company showed his political bias months earlier, though, when he gave an interview to the World Economic Forum.
“Trust extends well beyond whether you deliver an excellent product or service. Doing that is very necessary, but it’s not sufficient,” he said.
“To be a company that embodies trust, your mission and values should make it clear that you stand for more than just maximizing profit. That you stand up for social issues that are important, and you do the right things to help create a better world.”