PayPal Mafia speaks against PayPal's de-platforming practices
PayPal Mafia comprises people that are founders and former employees of PayPal that have gone on to found or work at big tech companies after leaving the company
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The former leaders of PayPal, more commonly known as the "PayPal Mafia," have spoken against the world-famous payments platform for its recent de-platforming policies.
PayPal has garnered a lot of hate and pushback over its de-platforming practices, even though it has shifted its policies to be crypto-friendly in recent years. The de-platforming practices of PayPal involve an abrupt process of freezing funds, fines, and opaque negotiations to unlock the frozen accounts.
The co-founder of PayPal, Peter Thiel, who also served as its CEO until 2002, said that PayPal's vision has completely shifted away from its initial goal of giving its customers ultimate control over their money.
Peter Thiel said, "If the online forms of your money are frozen, that's like destroying people economically, limiting their ability to exercise their political voice."
Peter Thiel is universally referred to as the don of the PayPal Mafia, which comprises a number of people that are founders and former employees of PayPal that have gone on to found or work at big tech companies after leaving the company. Elon Musk is another world-famous member of the group.
