The PayPal founder warns of his former company's intentions.
“PayPal seems to be moving in the direction of social credit and restricting transactions – that’s concerning,” PayPal co-founder, and now Tesla and Twitter CEO, Elon Musk, said in a recent interview.
Musk made the statement about his former company following its decision to begin fining people for posting things it didn't agree with on the internet. In October the payment app rewrote their user 'agreement' adding a new clause stating they would fine customers $2500 who spread what they considered 'misinformation' on the internet and even began to ban some websites including Toby Young's Daily Sceptic, a women's rights group and a pro-life charity.
This prompted millions of people to try deleting their account, only to find they were prevented from doing so by the app. The company then backtracked on the policy claiming the update had gone out “in error”.
The revoked misinformation policy update was condemned by former owner Elon Musk who said the update “goes against everything I believe in.”
Paypal's decision to become the thought police prompted millions to abandon the app, seeking less Orwellian alternatives.
Twitter to take on Paypal.
Now Twitter have filed registration papers to pave the way for it to process payments, according to a filing with the Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, which was obtained by The New York Times.
Musk has taken Twitter out of the hands of left-wing loonies and it appears as if he is going to do much the same with Paypal. Certainly, this is a shot across their bows.