PayPal was created in 1998, and by 2002 was a public IPO. Now worth over $76 billion with around 430 million users worldwide it is one of the most popular and safest payment systems in the world. People love using it, because it allows you to pay for goods on the internet without having to use your personal account information, which makes transactions much safer. However, the company is now being cancelled on social media after a strange aspect of their terms of service was exposed.
Here’s Why Hashtags #PaypalCancelled and #PayPalGoWokeGoBroke are Trending as People Boycott PayPal Leading to Them Losing $6 Billion in Value in 24 Hours Allegedly
If you go on social media right now two of the top trends are the hashtags #PayPalCancelled (PayPal Cancelled) and #PayPalGoWokeGoBroke (PayPal Go Woke Go Broke). These slogans are trending after reports came out that PayPal is planning to fine customers $2,500 for spreading misinformation. This crazy revelation led to people boycotting PayPal by closing their accounts.
The string of events allegedly led to PayPal losing over $6 Billion in value over the past 24 hours. In response to the dire situation PayPal reacted by claiming the section of the terms of service related to the $2,500 ‘misinformation’ fine was incorrectly written, which led to people asking how a mistake like that made it through all their checks and balances. Take a look at some tweets related to the #PayPalCancelled and #PayPalGoWokeGoBroke hashtags regarding PayPal’s $2,500 ‘misinformation’ fine.
The term ‘misinformation’ has become more and more vague over the past few years, so to each person it may mean something different. It will be interesting to see how PayPal navigates through the backlash of what they are claiming was a mistake. How will they gain back all those lost customers?