special, "inside paypal."fter 13 years, ebay's crown jewel is going out on its own again. we give you an inside look at the payment processor's business to show what the future holds for digital payments and for paypal. even if you have never shopped on ebay, you have probably used paypal without knowing it. i recently went out on a search to find all the different ways you can use paypal in the wild. take a look. in ♪ emily: here at whole foods, an apple pay partner, paypal's braintree technology actually powers every single apple pay transaction. >> your total is $51.94. emily: ok, thanks. so i just hold my phone up here. input the passcode. and that's it. and there is more. paypal's technology also powers transactions for airbnb. home depot. apps like hotel tonight, munchery, and taskrabbit. you can even use your paypal account to order an uber. speaking of, let me just call my car home now so i can cook dinner. if they're lucky. ♪ paypal is spending big on acquisitions like braintree to make sure it has a

i sat down with paypal's new ceo and asked what paypal can do now without ebay.: being an independent company changes some things but not others. the thing we will always focus on is how do we innovate for our customers going forward. being an independent company allows us to be a true neutral third party. we are the largest digital payments platform maybe in the world and by being neutral, it allows us to partner with retailers and others that maybe we couldn't have were we a part of ebay. being truly neutral and focused on customers is a huge advantage. emily: you work with apple and google and compete against them. apple is doing apple pay. what is the biggest value for paypal in mobile that these guys don't have? dan: one of the things we have that no other player has is we are truly an agnostic platform. we integrate any payment type for merchants. not just the paypal digital wallet, which has 169 million customers around the world, but we also integrate apple pay into that or other forms of payment. we really want to be a full-service payment partner for me

and they had a palm pilot product called paypal. had just recently graduated from college and was trying to decide what i wanted to do. i was sitting at home and simply wrote them an e-mail. because on their website, they said they were looking for a web designer. i had a design background. luckily enough for me, they responded. about a week later, i was here in silicon valley working for them. emily: and the rest is history. chad: the rest is history, but i needed to find a place to live. that was the first challenge for me. when i moved out here in the summer of 1999, you could not even find a place to live. i had to sleep on someone's floor. emily: because there were so many people coming here for silicon valley? chad: during the dotcom boom. emily: as i understand it, you designed the very first paypal logo that they still use to this day. is that correct? chad: i think they have changed it over the years, but yes, i was responsible for logo design, website design, the app. emily: do you see your design in the paypal logo today?

they made a mockery of us at paypal, thinking we were delusional. nobody knew what we were building and today it is a $30 billion dollar public company. emily: how are you devising companies? it is always good to raise money when you don't need it. it's probably a good time to think about raising money. you'd rather raise money now and take a chance for a lower valuation than you might have achieved later. risk -- de-risk any macro economic shifts. but i don't think there is a rush because of a fear of an imminent meltdown. emily: what companies are you most excited about and what will you stay away from mark what is overvalued and what is undervalued? roelof: hard to tell. we love the theme of the rise of the developers. we are investing in a company that helps mobile developers. we think there is a lot of reinvention taking place in enterprise infrastructure and software. software defines networking. storage. we are excited about a company in the 3-d printing space. these are some of the things we are excited about. i'm going to meet some of the t

that's all coming up when we take you inside paypal. ♪

i remember being at paypal and reading the articles and one title was "earth to palo alto." nobody knew what we were building and today it is a $30 million -- 30 billion dollar public company. it is always good to raise money when you don't need it. time tobably a good think about raising money. lower valuation than you might have achieved any macro economic shift -- i don't think there is a rush because of a fear of an imminent meltdown. companies are you most excited about and what will you stay away from mark what is overvalued and what is undervalued? roelof: hard to tell. we love the theme of the rise of the developers. we are investing in a company that helps with containerization and data centers. there's a lot of reinvestment -- we place in software are excited about a company in the 3-d printing space. these are some of the scenes we are excited about. i'm going to meet some of the tomorrow who is coming up with an idea in an area i have never thought about. emily: you were one of the earliest investors in instagram and they just announced they 4.5 -- 4.5 million mo

emily: that is interesting coming from you -- you worked at paypal.lex, what are we seeing when it comes to other private companies and their appetite for ipos right now? i know you broke news about first data planning to go public. but our -- our other companies -- are other companies going ahead or are they postponing? alex: everything i'm hearing is october could be a busy month. everyone is going to be watching and waiting for some of those things we talked about. first data we broke yesterday, they are pushing for a $2.5 billion offering. but as early as this month, according to my sources. that would be the biggest this year. the ipo market has been a little slow for 2015. that being the biggest, it is still small for a u.s.-listed company. these payment processors, when they are getting out there they will have to compete with the likes of paypal running in this area as well. to my point, square specifically has been trying to work its way up the food chain and find some of these higher-margin customers. have beeniously, we talking about square

that's all coming up when we take you inside paypal. ♪

. ♪ emily: from the earliest days, paypal's story is a silicon valley legend.nt giant is in the midst of a makeover. >> it is regeneration. emily: preparing for what it believes is a revolution in commerce. >> the market could bela as $25 trillion. emily: what does mobile wallets and a growing consumer class mean for the future of this newly independent, publicly traded company? that is all coming up when we take you inside paypal. i am emily chang and welcome to a bl

. >>> paypal has been crushed. more pain ahead. so now mike has all of the action. >> seven times the average daily put volume in paypal today. the second day we've seen it. a buyer of 15,000 puts and today another 15,000 put buy. october 30, 20.5 straight puts and if this trader is right, they are betting it will be down 10% in a few weeks time. >> thank you, mike. "options action" on every friday. by the way, anybody a paypal buyer? >> when you talk about puts two days in a row. you stay away. he's spot on. >> coming up, traders will tell you what they are watching tomorrow. stay tuned. here at td ameritrade, they work hard. wow, that was random. random? no it's all about understanding patterns like the mail guy at 3:12 every day or jerry, getting dumped every third tuesday. this happens every third tuesday. we have pattern recognition technology on any chart, plus over 300 customizable studies to help you anticipate potential price movement. there's no way to predict that. for all the confidence you need. td ameritrade. you got

they took out paypal. it used to be a $60 stock and they spun off paypal.n upgrade of two dollars. not a huge upgrade. let me talk about tesla. he musk was tweeting again last night. he will deliver the first model x sitomer tournament. you can almost already place your order for the $35,000 model 3. -- first model x september 29. , the oldeste return woman on wall street just turned 100 years old. still working, still manage money. just don't call her able. -- a bull. ♪ erik: you are watching "market makers." i'm erik schatzker. long before the era of megabanks, wall street was a different place. families ran american finance. left are not many people to remember what it was like when every securities firm was a partnership and investors did not have to find algorithms. some of the who does or, she is something special. have a look. this is irene berkman. she is the oldest woman on wall street. in 1942 -- irene : i started in 1942. she just turned 100. she has been working at the same firm since 1973. she still manages money for clients. >> she covers ever

paypal. college admissions, more and more chinese students are coming to american universities and one of the questions want to buy chinese goods is how well do they speak english. but when you take an english test in china, it turns out it's hard to verify that the person who is admitted is what he took the test. the company has grew up that conducts video interviews in english and they can be cement along with the admissions packet and they don't try to how well the people speak english. they say here's the video, decide for yourself. they've checked identification and with person a ride you can see whether that's who you admitted into took the english test. those are examples of design that are intended to stop bad behavior. >> last question. >> a number of people use dating services to find the matches online. and at the people just go about their daily business, and one way or another find their spouses. i was just wondering, are there any statistics over time that show what approach ver

my fear, though, is if i wire money to wiki leaks or use paypal, i will end up on a government was somewhere. or even worse, if at some point wiki leaks is formally decreed to be a terrorist organization i could be subjected to liability, criminal liability for materially supporting a terrorist group. these are not people prone to weird conspiracies that you hear from occasionally. these are very sober, rational americans. the reason i found that striking is because these were american citizens who were petrified of exercising their core first amendment constitutional right, which is what donating money to an organization or political causes. they were petrified they would be punished if they exercised those rights. what made it more remarkable is wiki leaks was an organization, is still an organization that has never been charged with little loan convicted of any crime. yet here we are with all kinds of people voluntarily relinquishing their own rights at all fear the government would abuse its power and punish them for exercising the right the constitution guaranteed. the reason i found th

they are going to have to compete with the likes of a paypal running in this area as well. been trying to work its way up the food chain and find some of these higher-margin customers. emily: we have been talking about square but the western remains what is going to happen to twitter? i spoke to john kelly from "vanity fair" he said they bagged dorsey to take the ceo job at twitter and he refused, apparently because of his obligations at square. john: we learned at one point earlier this year, the board didn't just act dorsey to return, they egg him, according to someone who was in the room. we are watching with bated breath to see what happens, but asked tonfirm he was take the job at some point earlier this year. do you think jack dorsey can do both jobs? mike: jack dorsey is an exceptional executive, a man incredible work ethic. if you have ever worked for a aretup, there are folks who .0 x in their ability to lead it is clear from folks i have woken with that jack dorsey has that ability. he is a rare breed of executive. given his work ethic and deep , i am optimistic h

they have heard of paypal and a little bit about bill me later and about apple pay.t makes this different? >> thanks again for having us. in order to be talking to you from stockholm. even with all the great payments companies in the u.s. today, 80chants still see between on desktop, and it gets all the way to the card. walk upf 100 people who to the register and were going to buy something walked away. the problem we want to solve it we focus so much on making the checkout so simple. 20, 40, 280%. like a goodounds solution for a problem at least if you are a retailer. i am not sure that the people who are not spending money feel as though they should be spending money. what makes it different from the your of solutions that competitors, paypal's, offering the very same merchants? >> sure. if you think about the apple apple payxample, works great for people with an iphone 6. aypal works great if you have password. in one cap solution, kind of like for the entire web. it really drives conversion and consumers love it. -- in theory, it could be the entire web, but you

>> some people are getting their money back if they paid through paypal. some people getting their money back but a lot of people are having a tough time. >> is there any way to go after these people? mike and i were talking about this before. mike made a good point. these people could be out of the country. >> they could be anywhere in the world. >> that's the thing with these internet scams. police are looking at it as a scam. they could be doing this from anywhere. as a matter of fact, i called up the number listed for the hot garlic crab festival in san francisco which is supposed to be coming up in november. a woman answered the phone. i asked if i could speak with a manager. she said she didn't know who the manager was. it seems like it's one of those things where there's a lot of questions about these events. another event is called the white gala that's supposed to happen down in santa clara or was supposed to happen and then never did. another one is a halloween party that's supposed to be at the space and science center in oakland but they don't

>> my original customer, his online order went through apple and didn't need me but paid via paypal anyway. four hours waiting, did well. number three in line for the iphone five. two years ago. and he said, sell your spot. so i just, musical chairs. at that point, i was musical standing. just bouncing around. when the store open, i bought a phone i had no intention of buying the day before. >> now you've broadened. more than an iphone waiter. >> yes, definitely. >> who are the people using your services? normal people? high end people? >> it's a gamut. it can be anybody. >> i shouldn't say -- i mean wealthy people. like you or me? >> average people like you and me. i had a middle school student who wanted to get cronuts for a high school crush. $60 to surprise her quote unquote boyfriend was beyond me but i was happy to oblige. young kids, regular earners, uber rich. very luxurious, you know, well to do people. i get everybody. >> what are you thinking about now? coming up? the iphone 6 plus. >> just announced. september always a good month. cronuts still big. >> people who don't know, th

i'll paypal you. i'm so popular. next i drove the same course, but this time with siri. hey, siri.ake an account open. >> when is your birth. >> january 16th, 2034. >> okay, what time is the event? >> 9am. . >> i didn't quite get that. >> nine. >> what time is the event. >> 9am. . >> scheduled. >> yes. ask me what event i want? >> checking. i didn't find any events asking you what you want. >> okay. >> not only did my reaction time to the drt light and car braking in front of me slow down, i drived further behind the follow vehicle, an indication that i wasn't paying attention. siri has key phrases and words to get her to do what you want. it's frustrating, you are wracking your brain. >> i was not the only one that felt talking to syria was mentally taxing. in the study two participates crashed in the simulator because they were so distracted by siri. a lot of technology was ipp vented because people crashed phone. >> a lot of assumptions are that you can put the hands on the wheel and look at the road, but didn't pay attention to actually paying attention to the road. >> why do m

people like paypal co-founder peter thiel and oracle founder larry ellison have already invested millions of dollars into the so-called longevity movement. >> some of this money has gone to aubrey de grey - he's been talking about aging for decades. a lot of poeople in science say that he's more talk than real science but he claims this is no longer fringe thinking. he believes we can actually stay young or return to youthfulness. we're actually going to take him out and see just how young we feel. de grey is a biologist and co-founded the sens research institute in mountain view california which raises money to support anti-aging work by scientists. he says most people are stuck in a pro-aging trance - where we think growing old is inevitable rather than a solvable medical problem. >> we have a completely, biologically invalid and incorrect idea that there is some kind of black and white wall between aging itself - whatever the hell we mean by that. and the diseases of old age--like alzheimer's, or cardiovascular disease or cancer. >> he argues that we must treat aging as the disease its

. >> mcbride's attorney says this paypal receipt shows money paid went to always moving and storage ll dmrxt dallas and mcbride was amended to win that money at the defendant. >> you can have an individual and then if they get bad news use the other company. >> is pending and texas based company claims it is not affiliated with transportation and documents show they share an address. come on registration for vehicles and come on principal. >> better business bureau gives it an app. and according to bbb web site it is. >> i will stay until every sent recovered. >> get written, estimate prices never get guarantee and never get smiment by known and a faib should do a walk through and make sure mover has proper registration and license. in pa they're over seen by public utility commission and new jersey state division of consume area pairs and u.s. department of transportation moves from one state another. when we called always and identified ourself as "action news" we were told all ways is no longer business and when we called back and did not identify ourselves we're told he could get l

i got chills that i had gotten robots in china to work for me, and they took paypal. emily: how did you go from journalist/drone enthusiast to drone company ceo? chris: so after i started this community, diydrones, and it takes off, people started talking about doing things together. designing drones. the software, the hardware, etc. initially, i started putting parts into cardboard pizza boxes with my children. that was the manufacturing line. that did not work well. it was clear, you know, that it had to be like a real company. making real stuff, that was someone doing it full-time. i invited the smartest guy on the site and said, you want to start a company with me? and he said sure. first, it was like him in his garage. then it was him and a bigger garage and then him with other people. initially, he was 19 in tijuana, mexico, he just graduated from high school. by the time we started the company, he was maybe 20 or 21. by the time it was 2012, he had been doing it for a couple of years. it was -- the company was doing like $5 million in revenues. i realized he ha

he paid me $100 via paypal. as i was getting ready to leave, $100, four hours. what are you doing? you're number three in line for the iphone 5. we're talk willing three years ago, two years ago. he said, sell your spot. so i just musical chairs. actually, at that point i was musical standing. bouncing around. when the store opened i bought a phone that i had no intentions of buying. >> but now you've broadened out. you are much more than an iphone waiter. >> yes. yes. definitely. >> who are the people who are using your services? normal people, high end people? >> it's the gamut. >> i shouldn't say normal. really wealthy people or people like you and me? >> average people like you and me. i was telling someone the other day i had a middle school student that wanted to get cronuts for a high school class. where she got $60 to surprise her quote, unquote, boyfriend was beyond me but i was happy to oblige. young kids, regular up earners, uber rich. very luxurious, you know, well-to-do people. i get everybody. >> what are you thinking about now? some events coming up. >> the iphone 6.

. >> schumer also wants the dea to put credit cards and paypal on notice as well. he doesn't want them doing business with the websites that sell those synthetic drugs. >>> several lawmakers and activists pushing to create a stonanall national park in greenwich village. the move would give a higher profile to the place where gay rights began. they're afraid the designation could get stuck in congress, so they'd like president obama to make it. >>> well, aftut winning one game each, e mets and yanks mixed it up for the finale of the subway series. matt harvey pitching five greater weight innings, striking out seven, allowing only one hit. however,vehe mets fell apart after that. xth inning, carlos beltran hits a two-run double. ackley hit a three-run home run. the yanks go on to hose them 11-2. the game also had an unexpected visitor. a pigeon started walking around the infield. the announcers joked he wassen extra infielder. the little.guy strutted by cc sasabathia. it actually didn't cause a delay, but the igeon ended up near first base next to yankee rookie. took

. ♪ emily: from the earliest days, paypal's story is a silicon valley legend.is payment giant is in the midst of a makeover. >> it is regeneration. emily: preparing for what it believes is a revolution in commerce. >> the market could be as large as $25 trillion. emily: what does mobile wallets and a growing consumer class mean for the future of this newly independ

money chance or, shaped by successful club of our -- of founders who became entrepreneurial titans, paypals a silicon valley legend. giant is inyments the midst of a makeover. >> it is the power of regeneration. preparing for what it believes is a revolution in commerce. >> our adjustable market could be as large as $25 trillion. emily: