PayPal

PayPal is planning to lay off approximately 4,760 employees, or 20% of its workforce, over the next two to three years as part of a significant cost-cutting initiative. This move aims to accelerate AI adoption, streamline operations, and refocus on core business areas like checkout, with the company expecting at least $1.5 billion in gross savings.

Renowned investor Michael Burry, famous for predicting the 2008 housing crash, warns the current AI boom mirrors the dot-com bubble. He highlights excessive venture capital and debt funding, noting many AI startups are unprofitable. Burry questions AI's long-term enterprise value and consumer willingness to pay, suggesting a market crash is imminent.

Tech layoffs have surged past 1 lakh in 2026, impacting major firms like LinkedIn and Meta, even as companies invest heavily in AI. While mid-level and entry-level roles are cut, demand is rising for experienced engineers skilled in AI operations, maintenance, and integration. Soft skills and a proven AI track record are now crucial for securing these sought-after positions.

Elon Musk claims he paid over $10 billion in taxes in one year, a historical high. He stated his tax rate on stock options nears 45%, with an additional 40% estate tax. This comes as California considers a 5% wealth tax, prompting tech leaders to relocate from the state.

Amidst the devastation in Gaza, a community of digital freelancers is finding income and escape through remote work. Programmers and designers connect with international clients, rebuilding skills and livelihoods amidst the ongoing crisis. Driven by the desire to earn for their family and not depend on humanitarian aid, they compete in the global market despite struggling for basic facilities.

Kyle Loftis, founder of 1320Video, died Tuesday night, leaving behind one of the biggest brands in online motorsports media. Reports estimate 1320Video’s value in the millions through YouTube ads, merchandise, sponsorships, and racing events. Fans continue to remember Loftis for helping underground racing culture reach millions of viewers around the world.

A 23-year-old entrepreneur, Shreepoorna S Rao, is revolutionizing Earth observation with Arctus Aerospace's high-altitude, long-endurance UAVs. His innovative aircraft aim to provide affordable, real-time, high-resolution imagery, challenging the dominance of satellite technology. Rao's journey from a childhood dream to securing significant investment highlights a new era in aerospace innovation.

Elon Musk is testifying against ChatGPT maker OpenAI. He claims the company abandoned its original mission. Musk stated he co-founded OpenAI to ensure AI benefited humanity. He expressed concerns about AI safety and misuse. Musk also revealed he warned former US President Barack Obama about AI dangers years ago. The case could impact AI governance and charitable trusts.

Tech mogul Peter Thiel has reportedly acquired a sprawling $12 million mansion in Buenos Aires' exclusive Barrio Parque. The historic property, designed by Alejandro Bustillo, boasts extensive living spaces and a garden terrace. Thiel's significant investment in Argentina, coupled with meetings with President Milei, hints at broader economic interests in the region.

Elon Musk testified in a trial against OpenAI, accusing the AI company and CEO Sam Altman of abandoning their nonprofit mission. Musk stated he co-founded OpenAI to prevent AI from falling into the wrong hands, arguing the shift to a for-profit structure violated its original purpose. He emphasized that the case's outcome could impact charitable giving nationwide.

Elon Musk's philosophy emphasizes pursuing purpose over perfection, even when odds are unfavorable. He demonstrated this by investing his fortune into SpaceX and Tesla, enduring failures to achieve ambitious goals like reusable rockets and electric cars. This mindset encourages taking calculated risks and prioritizing "why" over "what if" in daily life and career choices.

California gears up for FIFA World Cup 2026, hosting 14 matches across Los Angeles and the Bay Area. SoFi Stadium and Levi’s Stadium will be key venues. Beyond the global tournament, the state offers a year-round sports spectacle, featuring iconic teams and venues like Dodger Stadium and Oracle Park, promising an unforgettable experience for enthusiasts.

Digital payment solutions provider PayPal on Friday said it will stop offering domestic payment services within India from April 1. "From April 1, 2021, we will focus all our attention on enabling more international sales for Indian businesses, and shift focus away from our domestic products in India," the spokesperson stated.

German banks blocked over 10 billion euros in PayPal payments due to a surge in fraudulent direct debits. PayPal's security system experienced a disruption, leading to unvetted payments being processed. While the issue has been resolved, it significantly impacted payment transactions across Europe, particularly in Germany, prompting regulatory scrutiny and a drop in PayPal's stock value.

PayPal's new ad campaign features Will Ferrell singing a parody of Fleetwood Mac's "Go Your Own Way," highlighting the various payment options available through PayPal, including debit, credit, bank account, and the Buy Now Pay Later option. The campaign emphasizes recent checkout upgrades and the benefits of using the PayPal Debit Mastercard.

US payments giant PayPal Holdings Inc said it would acquire Japanese buy now, pay later (BNPL) firm Paidy in a $2.7 billion largely cash deal, taking another step to claim the top spot in an industry experiencing a pandemic-led boom.

Online payments firm PayPal has launched its Innovation Labs at the Chennai and Bengaluru technology centres. This lab would be a first of its kind by PayPal in India and its third such facility after the US and Singapore centres. The lab will serve as a platform to promote innovation in the newest technology areas, the company said.

Major disruptions hit PayPal and Venmo in the US, leaving millions unable to send or receive money. Starting around 9 a.m. ET, users faced transaction failures and login issues. While PayPal cited problems with online and retail checkouts, Venmo also experienced outages despite being listed as operational.

The San Jose California-based PayPal holdings Inc will open its operations for trading in cryptocurrency. This facility will be restricted to the geographical jurisdiction of Europe and will open this week.

PayPal has increased the limit of cross-border remittances to $50,000, from $25,000 in 2018 and $10,000 in 2017, to keep up with demands of US customers, particularly the NRI community in North America.

Speaking at the Economic Club of New York in Manhattan, PayPal Chief Executive Officer Dan Schulman said cryptocurrencies have a very uncertain future.

PayPal Holdings is launching a stablecoin called PayPal USD (PYUSD), the first stablecoin to be launched by a major finance firm. It is backed by the US dollar and aims to boost the slow adoption of digital tokens for payments. It will be issued by Paxos and made available to PayPal account holders in the US.

Venture capitalist David Sacks is transitioning from Special Advisor on AI and crypto to co-chair of the President's Council of Advisors on Science and Technology. Having served his term, Sacks will now broaden his advisory role to encompass semiconductors, quantum computing, and nuclear power, continuing to influence tech policy and the administration's AI framework.