carol: drake bennett has more. >> they are better known for the paypal mafia.re involved with the early years of the company and went on to do totally different things and for a lot of people, paypal is still associated with ebay auctions and a button on a website but at this point, it has become a much bigger company. it has its fingers in every part of the sprawling digital payment ecosystem. jason: for a certain segment of the audience out there, they probably have not heard of paypal but they have heard of vennmo. in my everyday life when i am talking to the kids, they are talking about venmo. and they are talking about that much more than paypal. a couple of acquisitions that have framed the company in a different way. >> braintree processes payments for uber, stubhub, a lot of these instantaneous mobile phone transactions you are not aware of. airbnb. braintree does that and that is part of paypal. paypal also owns venmo which was created to handle informal social payments like buying a round of drinks. get well present for a friend. i will pay you later.

andgreat and it has more -- drake bennett has more. >> they went on to do totally different things andor a lot of people, paypal is still associated with ebay options and a button on a website but at this point, it has become a that -- a much bigger company. ofon: for a certain segment the audience out there, they probably heard of paypal but nmo. have heard of thven thathey are talking about much more than paypal. a couple of acquisitions that have framed the company in a different way. >> braintree processes payments , stub hub, a lot of these instantaneous mobile phone transactions you are not aware of. braintree does that and that is part of paypal. which also owns vennmo was created to handle informal social payments like buying a round of drinks. to notff that used require a payback. friends you can bill on vennmo. carol: but it is not profitable. >> a common problem. very popular especially with millennials by paypal is trying to figure out how to make money off this thing which was born in a social atmosphere. carol: let us talk about partnerships. this is key. whether you have

and we just heard from drake bennett, a smart story on paypal and it's a lesson of how you have to work enemies to get ahead. >> i love that paypal is still a story. like the dream of the 1990's is still alive 20 years later. the story is one of how paypal escaped the palm pilot, which is what it was invented for. then escaped ebay, which acquired it, and then managed to turn foes into friends and find a path towards profit. jason: it feels like the quintessential "businessweek" story with the paypal mafia. when you think about the big themes this week, china finds its way into so many different features and segments of the magazine. >> how can it not? as these trade talks continue, this was an initial round this week. we expect more on the trade talks ahead and we wanted to use that as a way to look at the relationship between u.s. and china in different ways. technology figures prominently >> the story is really one of how paypal escaped the palmpilot, which is what it was invented for. then it's -- escaped ebay. which acquired it, and then managed to turn foes into friends and find a