PayPal's President and CEO, Dan Schulman, was recently interviewed for the Barefoot Innovation podcast series. In the discussion with Jo Ann Barefoot, CEO and Co-founder of Alliance for Innovative Regulation, Dan addressed the importance of financial health, the role of business in promoting racial justice, digital opportunities ahead for the financial industry, and the need for responsible innovation.
In the episode, “A Financial Health Moon Shot: PayPal’s Dan Schulman,” Dan spoke about his personal interest in promoting financial health. He stated that to speak with authority on a given topic, “it really needs to be important in the world, it needs to affect you personally, and you need to approach it both from an intellectual and emotional perspective.” Reflecting on how the global pandemic has exposed financial and racial issues that have long existed, Dan discussed how the pandemic has disproportionately impacted Black and minority communities—with Black businesses closing at twice the rate of other businesses due in part to lack of capital and an inability to acquire loans.
Looking forward, he explained that every individual must do their part to advance society, both financially and systemically. He outlined the importance of fostering an inclusive recovery, acknowledged that the risks associated with software and privacy standards is critical, and emphasized the need to build and maintain trust among businesses and individuals. He also discussed the importance of ensuring we maintain the stability of the financial system as we innovate for a new digital era.
You can catch Dan’s full interview here.