PayPal stock was down 6 percent Friday despite doing 180 on a controversial update that was over the weekend.
Back in September, PayPal said that if any user sends or posts messages that promote “misinformation,” PayPal would deduct $2,500 from their account, and that would be solely at the discretion of PayPal. But after outcry from users, PayPal has reversed course. It told The Epoch Times in an email that the policy went out as an error. But some believe the damage has already been done with social media users posting about closing their PayPal accounts.
NTD spoke with Matthew Peterson, co-founder of New Founding, to hear his thoughts.