Fintech Leaders cover image

Jimmy Soni: The Inside Story of PayPal – Elon Musk, Peter Thiel, Max Levchin, and the Company that Shaped the Modern Internet

Fintech Leaders

00:00

The Impact of the CAPTCHA on PayPal

The first commercial application of the CAPTCHA, like that came at PayPal and it came in as a response to wanting to fight bots who were creating fake PayPal accounts for bonus payments. The bottom fell out of the markets. And that affected a company like PayPal because their ability to raise money vanished overnight. That increases the pressure to solve this fraud problem. So, but it's the thing that should have killed them. But what it turns into is like the company's signature success. It's the thing they have patents that are filed in this direction. They have some of the most innovative technologies that come out of the company are built to solve this.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app