You’ve probably read about (or even felt) the anger over Paypal “stealing money” from Regretsy, which is only the latest in a series of things they’ve done that have pissed the Internet off. I suspect, given the attention this is getting, they’ll fix this. (Unlike them cutting off Wikileaks, this time Paypal is as coming as close to stealing from orphans before Christmas as one can get without writing a Dickens story.) This will quiet down. Then, within six months, they’ll do something else to piss the Internet off.

In no particular order, here’s a few random thoughts.

The key to understanding Paypal is this: Their policies in dealing with their customers are all crafted with the assumption that their customers are out to screw them. It’s not that they don’t want to do business with you, it’s that they don’t trust you. Ever. Under any circumstance. They want your money, but they hate you.

They hate you because in a measurable percentage of their transactions, people are trying to screw them over. As the cliché goes, it’s not paranoia when they really are out to get you.

Except that approaching every transaction with that attitude really is paranoia.

[The Internet is young, and we are collectively stupid for supporting organizations like this. Make sure you read the original post which is linked to in the first paragraph. It’ll make your blood boil, especially if you follow these stories (and toss in the issues folks have had with Google as well). What a mess.]
Source: Coyote Tracks