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Why should an online payment company get to decide who is allowed on their payment system and who is not. PayPal has decided it can fine companies who it believes is spreading misinformation. What does this mean? Who decides? What's misinformation? Imagine for one second that your company finds itself fined at best and cancelled at worst, just because your payment processor does not agree with your views. What was your offense; well disagreeing with PayPal’s versions of what is good information. Of course, after this Policy was discovered; founders like Musk said, “you’re a payment system not an editorial board” and PayPal’s stocks plummet due to their economics collapsing with people withdrawing their funds and closing their accounts. It's a grim situation, when something as mechanical as a payment processor becomes the gatekeeper of thought.
Why should an online payment company get to decide who is allowed on their payment system and who is not. PayPal has decided it can fine companies who it believes is spreading misinformation. What does this mean? Who decides? What's misinformation? Imagine for one second that your company finds itself fined at best and cancelled at worst, just because your payment processor does not agree with your views. What was your offense; well disagreeing with PayPal’s versions of what is good information. Of course, after this Policy was discovered; founders like Musk said, “you’re a payment system not an editorial board” and PayPal’s stocks plummet due to their economics collapsing with people withdrawing their funds and closing their accounts. It's a grim situation, when something as mechanical as a payment processor becomes the gatekeeper of thought.