Searches for ‘delete PayPal’ spike as shares plummet amid ‘misinformation’ controversy
Searches for “delete PayPal” skyrocketed as controversy reigned this weekend over a policy saying users would be fined $2,500 for promoting “misinformation,” which the payment platform quickly retracted and claimed was posted in error.
Searches for the phrase exploded by 1,392% over the past few days, according to Google Trends data. Related searches of “how to cancel PayPal,” “cancel PayPal account,” “delete PayPal account,” and “how do I delete a PayPal account” spiked as well, according to Market Watch. The search interest surge was accompanied by real-world results, as PayPal’s stock plummeted by over 6% on Monday. The company’s stock crashed by two-thirds of its value at the beginning of this year.
PAYPAL CLAIMS POLICY OF $2,500 ‘MISINFORMATION’ FINES WAS POSTED IN ERROR
Several major conservative figures led the latest outcry against PayPal, including Rep. Lauren Boebert (R-CO).
“Remember that the only reason PayPal won’t be fining people $2,500 for ‘misinformation’ is because we spoke up, boycotted them and cancelled our accounts. Do not silently be a player in the game of cancel culture. Fight back,” she tweeted.
Remember that the only reason PayPal won’t be fining people $2,500 for “misinformation” is because we spoke up, boycotted them and cancelled our accounts.
Do not silently be a player in the game of cancel culture. Fight back.
— Lauren Boebert (@laurenboebert) October 9, 2022
Sen. Tim Scott (R-SC) took to Twitter to say his office would investigate. “Allowing private companies to become thought police would be egregious and illegal overreach,” Scott tweeted. “My office will be looking into the validity of PayPal’s new policy and taking any necessary action to stop this type of corporate activism.”
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The outcry against PayPal started over the weekend after the company released an updated Acceptable Use Policy.
The policy said it would fine users $2,500 of “liquidated damages” if they were found to “promote misinformation.” A later statement from the company claiming that the policy was posted in error and did not reflect PayPal’s actual policy was rejected by many.