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NEWSLETTERS.TIME

The Leadership Brief

The Leadership Brief

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DAN SCHULMAN

“If yo u stand still, you’re asking to be hit,”

DAN SCHULMAN

“You have to stay in motion to thrive and be competitive. I’ve applied that lesson throughout my career, not just to business, but in life.”

Dating from a time when financial executives were far less likely to reveal their opinions, Schulman has not been shy in stating his, about everything from discriminatory bank practices and wealth inequities. That, he says, has meant putting his views into reality in the way he leads PayPal. In 2...

He spoke with Vivienne Walt about how his very public commitments to social justice mesh with the way he leads PayPal’s 26,500 employees.

You talk a lot about equity. A lot of companies talk about equity, ESG goals. How do we trust that companies are actually doing what

they claim to be doing, when there’s no real way to measure it?

  1. I think that companies have an obligation and the CEOs who run those companies have an obligation to stand up and address the societal issues that are around us.
  2. Otherwise, it's just propaganda and employees, and customers and share holders see through that

DAN SCHULMAN

You can't have values on a wall without acting on them.

What’s the biggest problem with the way the financial industry is set up?

  1. It’s expensive to be poor. The less money you have, the more it costs you to do basic transactions.
  2. If you want to cash a check, and you’re part of the banking system, it’s simple and easy. It’s usually free of charge.
  3. But if you’re outside the system, you need to stand in...

DAN SCHULMAN

Getting money efficiently and quickly is essential for so much of our world's populaion.

When will central banks actually start using digital currency in great numbers?

  1. About 80% of the world’s central banks have some kind of studies or limited experiments underway.

There’s clearly an understanding that the world is moving more and more to digital forms of payments.

Central banks are looking towards all forms of digital currencies, for e...

Is paper money really dying out, or is it just us sitting in Europe and California who think that? If you travel around Africa, no one takes a credit card.

  1. Many people have forecasted the death of cash and been wrong, and I don't want to be another in that long list! But everyone has a smartphone.
  2. It is becoming ubiquitous, and wireless connectivity is becoming more and more ubiquitous.
  3. The ability to leapfrog into the next ge...

DAN SCHULMAN

If you don't have a purpose as a company, you will never attract the very best talent. And if you don't have the very best talent, you will never be a great company.

DAN SCHULMAN

It's expensive to be poor

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