{"id":1682173,"date":"2022-10-10T17:50:13","date_gmt":"2022-10-10T21:50:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1682173"},"modified":"2022-10-10T17:52:57","modified_gmt":"2022-10-10T21:52:57","slug":"paypal-value-down-6-billion-delete-paypal-searches-soar-1300-after-daily-wire-report-exposes-misinformation-policy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/paypal-value-down-6-billion-delete-paypal-searches-soar-1300-after-daily-wire-report-exposes-misinformation-policy\/","title":{"rendered":"PayPal Value Down $6 Billion, \u2018Delete PayPal\u2019 Searches Soar 1,300% After Daily Wire Report Exposes \u2018Misinformation\u2019 Policy"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpaypal-value-down-6-billion-delete-paypal-searches-soar-1300-after-daily-wire-report-exposes-misinformation-policy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1682173&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><a href=\"https:\/\/www.dailywire.com\/topic\/google\">Google<\/a> searches for phrases such as \u201cdelete Paypal\u201d were soaring as much as 1,300% days after a report from The Daily Wire highlighted the company\u2019s attempt to penalize users $2,500 for spreading \u201cmisinformation\u201d through the platform.<\/p>\n<p>PayPal, which has deplatformed multiple entities and commentators for their political and social views, had unveiled an upcoming change to its acceptable use policy that would have banned the promotion of \u201cmisinformation,\u201d as well as \u201chate, violence, racial or other forms of intolerance that is discriminatory.\u201d Within one day of The Daily Wire breaking <a href=\"https:\/\/www.dailywire.com\/news\/new-paypal-policy-lets-company-pull-2500-from-users-accounts-if-they-promote-misinformation\">news<\/a> of the policy change, PayPal <a href=\"https:\/\/www.dailywire.com\/news\/paypal-reverses-plan-to-fine-users-2500-for-misinformation-after-daily-wire-report\">claimed<\/a> that the new guidelines were published \u201cin error\u201d and apologized \u201cfor the confusion this has caused.\u201d<\/p>\n<p>PayPal trended on Twitter over the weekend as thousands of customers expressed their disdain for the policy on social media and announced that they intended to cancel their accounts. Google searches for phrases such as \u201chow to cancel PayPal\u201d were still trending as of Monday morning, according to an <a href=\"https:\/\/www.marketwatch.com\/story\/delete-paypal-searches-spike-after-2-500-misinformation-fine-controversy-11665427396\">analysis<\/a> of Google Trends data from MarketWatch. The phrase \u201cdelete PayPal\u201d surged 1,392% after the acceptable use policy announcement and retraction.<\/p>\n<p>Customers reacted strongly as PayPal said users found in violation of the new policy could be liable for \u201cdamages,\u201d including the removal of $2,500 \u201cdebited directly from your PayPal account\u201d per offense, with cases deliberated at the \u201csole discretion\u201d of the company. Before posting its initial story, The Daily Wire contacted PayPal for definitions of the added terms but received no reply.<\/p>\n<p>The company\u2019s stock price fell more than 6% on Monday as the intense backlash appeared to <a href=\"https:\/\/www.dailywire.com\/news\/breaking-paypal-stock-plummets-after-daily-wire-report-exposes-shocking-misinformation-policy\">spook investors<\/a>, causing PayPal to lose over $6 billion in market capitalization. Shares closed at $84.52 on Monday, marking a 6.3% decline from $90.18 on Friday. In comparison, the Dow Jones Industrial Average fell 0.3% and the technology-heavy Nasdaq fell 1% as of market close.<\/p>\n<p>Among the individuals who <a href=\"https:\/\/www.dailywire.com\/news\/elon-musk-former-paypal-exec-led-backlash-before-paypal-abandoned-alleged-plan-to-fine-users-2500-for-misinformation\">criticized<\/a> PayPal over the policy were a number of lawmakers, commentators, and investors, as well as former PayPal President David Marcus and PayPal co-founder Elon Musk. \u201cIt\u2019s hard for me to openly criticize a company I used to love and gave so much to,\u201d Marcus said on social media, arguing that the nixed policy update \u201cgoes against everything I believe in.\u201d<\/p>\n<p>The announcement and reversal occurred days after PayPal canceled three accounts linked to Toby Young, a commentator who runs a British nonprofit called Free Speech Union. The organization has <a href=\"https:\/\/freespeechunion.org\/blog\/\">defended clients<\/a> such as actor and comedian Russell Brand, who recently <a href=\"https:\/\/www.dailywire.com\/news\/russell-brand-leaves-youtube-for-rumble-after-censorship-complaint\">moved his show<\/a> from YouTube to Rumble in reaction to censorship from the former platform.<\/p>\n<p>PayPal has also <a href=\"https:\/\/www.dailywire.com\/news\/gay-rights-organization-gets-deplatformed-by-paypal-while-pro-pedophile-group-remains\">sanctioned<\/a> Gays Against Groomers, a group that opposes the sexualization of children, as well as evolutionary biologist Colin Wright. The company featured a rainbow-colored banner on its social media platforms during the month of June affirming that it is \u201copen for all,\u201d while the company\u2019s British subsidiary still <a href=\"https:\/\/twitter.com\/PayPalUK\">sports<\/a> the banner.<\/p>\n<p>Platforms such as <a href=\"https:\/\/www.dailywire.com\/news\/the-end-of-conservative-books-amazon-quietly-bans-books-they-deem-offensive-hate-speech\">Amazon<\/a>, <a href=\"https:\/\/www.dailywire.com\/news\/allie-beth-stuckey-suspended-from-twitter-after-challenging-fox-news-segment-that-went-viral\">Twitter<\/a>, and <a href=\"https:\/\/www.dailywire.com\/news\/meta-doubles-down-after-zuckerberg-reveals-how-facebook-censored-hunter-biden-laptop-story\">Facebook<\/a> have sanctioned conservatives over their positions on controversial social issues, including transgenderism, vaccination mandates, and homosexuality. <a href=\"https:\/\/www.dailywire.com\/news\/what-gofundmes-trucker-convoy-targeting-says-about-tech\">GoFundMe<\/a> seized millions in funds raised for trucker protests in Canada earlier this year, while <a href=\"https:\/\/www.dailywire.com\/news\/democrat-senator-happy-about-getting-google-to-suppress-crisis-pregnancy-centers\">Google<\/a> recently began suppressing search results for crisis pregnancy centers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Google searches for phrases such as \u201cdelete Paypal\u201d were soaring as much as 1,300% days after a report from The Daily Wire highlighted the company\u2019s attempt to penalize users $2,500 for spreading \u201cmisinformation\u201d through the platform. PayPal, which has deplatformed multiple entities and commentators for their political and social views, had unveiled an upcoming change &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1682175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1682173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1682173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1682173"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1682173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1682175"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1682173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1682173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1682173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}