July 27, 2011


Just a quick note on the latest Anonymous protest against PayPal. This one appears to much better than their last attacks as they are simply trying to get out a viral campaign to get people to close their PayPal accounts using the Twitter #OpPayPay hash tag. Which is great, they are exercising their free speech to make their point, without unconvincing anybody that is not persuaded by their arguments. Good on them, and it shows a level of maturity that the likes of UKUncut could never hope to achieve. It has also had some significant short term effects (again more than the lefty boot boys of UKUncut can claim).

So is there anything that I would do related to #OpPayPal? Absolutely, I would buy as much PayPal stock as I could. They haven't really changed the fundamental thing that PayPal is still the most ubiquitous payment system on the web. Those that actually used PayPal will get new accounts eventually oncethey have forgetten the protest. Those that didn't won't, but then from PayPal's point of view that doesn't really matter since they were not getting any money from them anyway. This storm will pass and I doubt it will have any noticeable effect to PayPal's profits. All Anonymous as done is cause a panic which will temporarily depress the stock value, so if I had some spare cash I would grab what I could and wait for the stock to rebound.


Post a Comment

<< Home