PayPal CEO: 'Capitalism Needs an Upgrade'

It’s no surprise that the coronavirus pandemic has pushed more people than ever before towards digital payments. What is surprising is just how dramatic that shift has been. PayPal CEO Dan Schulman lays out those details in this episode of Leadership Next. But what he truly wants to talk about is what this means for all of those who have been left behind by America’s economic system. He’s convinced “capitalism needs an updgrade,” and he’s doing what he can to make that happen. He tells Alan Murry and Ellen McGirt about his company’s decision to pay entry level employees more. He talks about a recent massive $530 million commitment to businesses and communities of color. And he answers the question that’s often asked on this podcast: why, as a corporate CEO, is it your job to care about this?  Over the years Schulman has taken stands on a variety of controversial issues – from gun control to voting. He’s been practicing stakeholder capitalism since well before the term became popular.