Dan Schulman Quotes
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We had grown too fast at PayPal. Our operating expenses had grown too fast... Growth covers a lot of sin. We want to grow without sin.
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In the not-too-distant future, commerce is just going to be commerce. It won't be online commerce or offline commerce. It's just going to be commerce. And that will happen because of the phone.
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As CEO, I believe my most important job is to both define reality and inspire hope for the PayPal team. Defining reality includes being realistic about all the things that could go wrong so that we are prepared to navigate those challenges.
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What we want to do to monetize Venmo is to add more and more capabilities. Anywhere you see a PayPal merchant, you can click on that button and actually use your Venmo account to check out at that merchant. Then we'll monetize that transaction exactly the same way we monetize a PayPal transaction.
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When I talk about the ability for fintech to promote kind of economic growth and productive citizens coming in, using different data and being able to lend to small businesses, see those small businesses start to grow - of course, that means more money for their families, you know, the small-business owner families. They start to hire people.
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It's been with us for a millennium, and we'll still be carrying around cash for a long time to come. There'll just be less of it.
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We put people at the center of everything we do.
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No one can say that democratizing financial services is bad. It is good for communities, countries, the global economy, and educational progress.
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We cannot just rely on the public sector or the private sector. We all need to work together.
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Payments is a hard business. It's a messy business, with not necessarily the largest of margins.
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It's so hard to predict the political environment. I think that business can't sit on the sidelines and just watch. I think we need to be a force for the values that we believe in. We need to partner with government and regulators.
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We're really thinking how do we re-imagine PayPal almost as a service. PayPal as a SaaS platform.
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I think that the world is going to remain a very interconnected place. I don't think there's any getting away from that. The Internet has brought us closer together. I think cross-border trade is going to continue to grow substantially. I think there may be certain trade agreements that can be renegotiated, one way or another.
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The difference between online and offline commerce is basically blurring and disappearing.
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The big problem retailers are facing is the world is moving to mobile.
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Many of the things that we take for granted around the table, like cashing a check or just paying a bill or sending money to somebody you love, is very time consuming.
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I think we operate in a very dynamic marketplace, and as such, we need to constantly innovate.
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Our overriding mantra is to be customer champion.
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Most governments want their citizens to be part of the financial system, to be productive citizens as a result of having access to be able to manage and move money in a seamless way. But the traditional financial services infrastructure is not designed to handle that because, predominantly, it's an expensive infrastructure.
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I do think that in a digital future, consumers will increasingly turn to brands that they trust. Trust, security, and service are even more important in a digital world.
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When you focus solely on valuation and market share, you win some and you lose some. When you focus on the needs of your customers and help them achieve their dreams, you win every time.
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Venmo is one of the jewels of Paypal.
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When I first went into financial services, people told me not to be too over-optimistic about change.
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I've come to recognize that social purpose must be embedded into the core DNA of a company. The questions 'Why do we exist as a company?' and 'How do we make a difference?' need to have the same answer.