Happy New Year! I hope that wherever you are in the world, and however you choose to celebrate the holiday season, that you are entering 2019 rested, re-energized, and with a clear sense of mission. As I’m sure some of you did as well, I took a bit of time for reflection over the last few days. We get so busy in our day-to-day work that I’m always thankful for those quiet moments and the opportunity to take stock and look forward.
The intersection of business and values has been the site of several collisions lately—some accidental, some accidents waiting to happen.
While the subjects in question have varied from CEO activism and governance to issues of ethics and data privacy, the end point is the same: In business 2018, values matter, more than ever. No company looking to its future viability can afford to avoid making choices—and statements—about what it stands for while avoiding pitfalls and misguided actions.
In a time when technology has transformed people’s lives in so many ways, financial services is one area where the full potential of the Internet era has yet to be realized. We’ve been hearing for decades about how the decline of cash and the rise of the digital economy will revolutionize financial services and usher in more convenient, accessible and affordable transactions. But so far, the traditional financial order remains firmly in place. While change is underway, the way most people move and manage their money hasn’t changed much since credit cards appeared on the scene 50 years ago.
At PayPal, we believe every person has the right to participate in today’s global economy. Kiva is an international nonprofit that allows people to lend money to low-income entrepreneurs and students in over 80 countries and is an important partner in this mission. A few weeks ago, we launched our Kiva campaign: “Make A Small Loan, Make a Big Impact,” to our employees and customers around the globe to encourage them to make loans to entrepreneurs.