Correct me if I'm wrong, but isn't Elon part of the Paypal Mafia. AKA, the people who literally built Paypal, got rich selling it to Ebay, and then went on to become multibillionaire entrepreneurs?
I think there's a misunderstanding. I'm not saying he made Paypal communist, I'm saying he's built a multinational payment system before, so it's entirely plausible for him to do it a second time now that he's the "official" wealthiest person on the planet.
Paypal, to me anyway, seemed to get shitty when eBay took it over. eBay has this "the buyer is always right" kind of policy that makes it frustrating to sell any kinds of collectibles using credit cards. I know many people that have been ripped off by scammers that will win an item on ebay, claim it was a fake, then return a fake to the seller. In almost every frigging case, the buyer won the dispute. Paypal seemed to have adopted that mindset while part of eBay and have stuck with it ever since.
On a side note, eBay fails to recognize that their sellers are customers too. How that site still reigns as the #1 online auction site on the planet baffles me. I'm hoping these surprise 1099s sellers get from sales on there makes 2023 a very difficult year for ebay ... I don't think people realize that they could owe 40% (or more) of what they made off their side hustles in taxes.
This happens more often than you think. People sell their company but the new owners run it into the ground and they have to bring the original owner back in or even sell it back to them to get back afloat. Like a boat, it was more about the captain than the ship. I suspect the captains in these scenarios know the boat well enough before selling that its unlikely anyone else can run it like they do.
Correct me if I'm wrong, but isn't Elon part of the Paypal Mafia. AKA, the people who literally built Paypal, got rich selling it to Ebay, and then went on to become multibillionaire entrepreneurs?
So, not like he hasn't done this before.
I don't remember paypal being communist 10 years ago.
I think there's a misunderstanding. I'm not saying he made Paypal communist, I'm saying he's built a multinational payment system before, so it's entirely plausible for him to do it a second time now that he's the "official" wealthiest person on the planet.
Yeah, I am in agreement. Paypal was working correctly when Elon handed it over. How cool would it be to create and sell the same company twice? lol
Paypal, to me anyway, seemed to get shitty when eBay took it over. eBay has this "the buyer is always right" kind of policy that makes it frustrating to sell any kinds of collectibles using credit cards. I know many people that have been ripped off by scammers that will win an item on ebay, claim it was a fake, then return a fake to the seller. In almost every frigging case, the buyer won the dispute. Paypal seemed to have adopted that mindset while part of eBay and have stuck with it ever since.
On a side note, eBay fails to recognize that their sellers are customers too. How that site still reigns as the #1 online auction site on the planet baffles me. I'm hoping these surprise 1099s sellers get from sales on there makes 2023 a very difficult year for ebay ... I don't think people realize that they could owe 40% (or more) of what they made off their side hustles in taxes.
This happens more often than you think. People sell their company but the new owners run it into the ground and they have to bring the original owner back in or even sell it back to them to get back afloat. Like a boat, it was more about the captain than the ship. I suspect the captains in these scenarios know the boat well enough before selling that its unlikely anyone else can run it like they do.
Yeah, he started PayPal and then sold it...