After many years of small artists and labels complaining and asking for it they are finally kicking that useless bloodsucking crooked af plague known as paypal to the curb yay!

https://get.bandcamp.help/hc/en-us/articles/23020652077079-Setting-up-your-PayPal-account

 

Thanks for the heads up!

 

That's great news if I can stop losing money to Paypal. I'm more than happy to give the Paypal share to Bandcamp even. The worst thing about Paypal is that in my country, they got rid of the balance. So not only I need to wait for Bandcamp to transfer to Paypal, I also need to wait until Paypal transfers to my bank with their absolutely terrible exchange rates.

By the way, is anyone able to update their details? The link they provide just goes to an error page that says, "We regret to inform you that something odd happened."

Guess I'll be waiting for a while to get rid of it.

 

Yeah great giving money to Musk...

 

Elon isn't involved with Paypal anymore, dont even think he owns any stock as he said in 2018 he sold it all. But who knows on that part, owning stock doesnt mean anything. People own stock of many companies. But he is def. not involved with Paypal since early 2000's

 

He was an early investor in Stripe. That is probably what he means, but it is a privately held company and we cannot get information about what his investment is still. Not without some amount of work that someone else can do researching it. Anyone hoping that Paypal being no longer used by Bandcamp in a way you will ever notice monetarily is being optimistic. If you think their sliver of your money will be going somewhere more Altruistic, it's probably not the best of bets.

Spoiler

how much of Stripe does Elon Musk own, or what is his investment level?
ChatGPT said:


Elon Musk was an early investor in Stripe, contributing to its initial $2 million funding round in 2011, which valued the company at $20 million. This investment was part of a group that included Peter Thiel, Sequoia Capital, Andreessen Horowitz, and SV Angel. Chargeflow

However, Stripe has remained a private company, and its ownership structure is not publicly disclosed. As a result, the exact percentage of Stripe that Musk owns is not known. There have been no public reports indicating that Musk has sold or reduced his stake in Stripe, but without official filings or disclosures, it's impossible to determine his current ownership level.

For context, Stripe's valuation has grown significantly over the years. In March 2021, the company was valued at $95 billion. Tatler Asia+2Reuters+2Crunchbase News+2

While Musk's early investment in Stripe has likely appreciated substantially, the lack of public information means we cannot accurately assess his current stake or investment value.

 

Last edited: Jul 21, 2025 at 7:07 AM

Spoiler: Source: Grok KI

The PayPal Mafia refers to a group of former PayPal employees and founders who, after PayPal's sale to eBay in 2002 for $1.5 billion, went on to found or significantly influence some of the most successful tech companies in Silicon Valley. The term "Mafia" is a tongue-in-cheek nod to their tight-knit network, mutual support, and outsized impact on the tech industry through investments, mentorship, and new ventures.

Key Members and Their Contributions:

• Elon Musk: Co-founder of X.com (merged into PayPal), later founded SpaceX, Tesla, Neuralink, and xAI.
• Peter Thiel: PayPal co-founder, early investor in Facebook, co-founder of Palantir and Founders Fund.
• Reid Hoffman: Former PayPal executive, co-founder of LinkedIn, and prominent venture capitalist.
• Max Levchin: PayPal co-founder, later founded Affirm and co-founded Yelp.
• Steve Chen, Chad Hurley, Jawed Karim: Former PayPal employees who co-founded YouTube.
• Jeremy Stoppelman, Russel Simmons: Former PayPal employees who co-founded Yelp.
• David Sacks: Former PayPal COO, later founded Yammer and became a venture capitalist.
• Roelof Botha: Former PayPal CFO, now a partner at Sequoia Capital.

Why It Matters:
After PayPal’s success, these individuals leveraged their wealth, experience, and networks to shape the tech landscape. They invested in or founded companies like Tesla, YouTube, LinkedIn, Yelp, and Palantir, which have transformed industries and reached billions of users. Their collaborative approach—supporting each other through funding and advice—amplified their influence, making the "PayPal Mafia" a legendary force in tech entrepreneurship.