“Now, if a private corporation says something you disagree with, they get to decide whether to take your money,” Marcus added. Insanity.”
Elon Musk, a co-founder of the corporation that is now known as PayPal, concurred with David Marcus, its previous president, regarding the company’s radical new approach. Marcus claimed that PayPal’s updated Acceptable Use Policy (AUP) is incompatible with all he stands for.
“Now, if a private corporation says anything you disagree with, they can choose to take your money. Insanity.”
The Daily Wire reported that a new policy will enable PayPal to charge consumers $2,500 for “misinformation.”
The term “misinformation” is not defined, and as of November 3, a new policy is in place. The company’s user agreement’s prohibited activities section will be updated to reflect the changes.
— Elon Musk on October 8, 2022 (@elonmusk).
A prohibition on “the sending, uploading, or publication of any messages, content, or materials” that “promote disinformation” is one of the policy modifications.
According to The Daily Wire, PayPal will have the “exclusive discretion” to impose fines, which may total $2,500 and be “debited immediately from your PayPal account” for each infraction.
Continually using PayPal
In addition to being subject to the aforementioned sanctions, “if you are a seller and receive payments for transactions that violate the Acceptable Use Policy, you will be accountable to PayPal for the amount of PayPal’s damages caused by your violation of the Acceptable Use Policy.’
You understand and agree that the current minimum estimate of PayPal’s real damages is $2,500.00 USD per violation of the Acceptable Use Policy.
Elon Musk also left a “” comment on a post by Andrea Stroppa that shared a story concerning PayPal’s abrupt change. Worrying, said Stroppa. The X platform is therefore more important than ever.
One of the co-founders of X.com, which merged with Confinity to form PayPal in 2000, was Elon Musk. PayPal was bought by eBay in 2002 for $1.5 billion. Elon Musk repurchased X.com from PayPal in 2017. Elon Musk didn’t have any intentions for the website at the moment, but he recently declared his desire to build the X the Everything app.
PayPal has the right to do this under current legislation, according to Aaron Terr, a senior programme officer at the Foundation for Individual Rights and Expression, who spoke to The Daily Wire. According to the law as it stands, Terr stated, “PayPal has the right to impose this type of viewpoint-discriminatory policy as a private firm.”
Whatever PayPal’s aim may be for creating these nebulous new categories of prohibited conduct, it is fairly obvious that they will have a significant chilling effect on users’ speech. The targets of these restrictions will probably be people with unpopular or minority beliefs, as is frequently the case with vague and viewpoint-discriminatory speech rules.
The Daily Wire reported that it contacted PayPal for a response but that it hasn’t heard back from the financial services provider. Teslarati also contacted PayPal.