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Havish Gupta

Stealth • 2m

How Elon Solved a Major Problem at PayPal, Easily! In the early days of PayPal, fraud was a major issue, costing the company millions annually. These frauds included account takeovers, using stolen cards to make transaction, creating fake accounts for referral benefits, and even money laundering. As PayPal grew rapidly, these frauds became a big problem. Thus, Elon had to act fast! So Elon implemented some unique and unpopular solutions to handle this! He asked every employee at the company, no matter what their position or role was, to monitor and detect potential fraud. Based on this, they tried to look for certain patterns in fraud transactions. For eg, opening a new acc and making large transactions right away. Using this approach, he was able to create better automatic fraud detection tools and set up rules that reduced fraud (like transaction limits) And that’s how Elon solved a major problem at PayPal easily.

9 replies10 likes

Replies (9)

Anonymous 3

Stealth • 2m

Sometimes, the simplest solutions, like setting boundaries, can create long-term impact without major system overhauls

0 replies1 like

The next billionaire

Stealth • 2m

I thought he did something crazy. This whole post was basically him telling his employees to work hard on something lol

1 replies1 like

Anonymous 2

Stealth • 2m

Hmm everyone spotting issues collectively can help identify problems faster and more effectively

1 replies1 like

Anonymous 1

Stealth • 2m

And that is what today makes it so retarded to use

0 replies

SHIV DIXIT

Stealth • 2m

Wtf , Elon musk is suffering from hair loss at that time but now everything changed and he has lots of hair so definitely he transplant the hairs or used something special in Bio tech.

2 replies1 like

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