Both PYPL and SQ are negative on the year. Maybe that's really why Dorsey quit TWTR. PYPL lost the golden goose, ebay. I listened to the call again. I think the analyst from Cowan doesn't understand the business either. They are not asking the right questions.
I still don't know how they make money. It sounds like all they have in the US is payment processing that gets .07% not 7% take rate. And they said they won't do payment processing in Europe. I don't know what a merchant is, in this scheme. They don't mention them by name. On one hand they say they want the high rollers. Then they say the US has a lot of an undeserved banking population which sound like poor people.