I Closed My PayPal Account Today. You Should Too.

Get out now.

by Rod D. Martin
October 10, 2022

I absolutely cannot believe this (for me, heartbreaking) day has come.

I had to close my PayPal account today. PayPal has announced that their new AUP was a "mistake", but of course that's a lie (and their stock is down from $90.17 to $84.52 today, plus another almost $6 drop since closing, as of 4:44pm CT). No one believes them. Especially not the people who started the company.

PayPal wants to implement Chinese social credit scoring. At $2,500 per incident of "misinformation" you spread (their term), they could easily run up your credit cards and overdraw your checking to such a degree that you would not only be bankrupted but -- since bouncing checks is a crime -- you might very well go to jail.

They know this perfectly well. That's their intent. And it's all the more ironic since, according to them, their own announcement was itself "misinformation".

Anyone who stays with PayPal (or any of their subsidiaries, such as Venmo) at this point is insane. Don'…