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What COVID-19 means for the future of commerce, capitalism and cash | Dan Schulman

Visit to get our entire library of TED Talks, transcripts, translations, personalized talk recommendations and more. Capitalism needs an upgrade, says PayPal CEO Dan Schulman, and it starts with paying people enough to actually invest in their futures. He discusses why companies need to cultivate trust to recover and rebuild after the COVID-19 pandemic —…

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Visit to get our entire library of TED Talks, transcripts, translations, personalized talk recommendations and more.

Capitalism needs an upgrade, says PayPal CEO Dan Schulman, and it starts with paying people enough to actually invest in their futures. He discusses why companies need to cultivate trust to recover and rebuild after the COVID-19 pandemic — and how we can use this defining moment to create a more inclusive, ethical economy. (This virtual conversation, hosted by TED business curator Corey Hajim and current affairs curator Whitney Pennington Rodgers, was recorded on May 19, 2020.)

The TED Talks channel features the best talks and performances from the TED Conference, where the world’s leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design — plus science, business, global issues, the arts and more. You’re welcome to link to or embed these videos, forward them to others and share these ideas with people you know. For more information on using TED for commercial purposes (e.g. employee learning, in a film or online course), submit a Media Request here:

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73 Comments

73 Comments

  1. Roy Kerwood

    July 1, 2020 at 9:10 pm

    When all of the 1% think like you Dan Schumann there will be no need to change anything, buy paying your employees as if you where the Henry Ford, will in and of it’s self end Globalism, poverty, racism and restore a balance to life the was stolen by the 1% IMO I hope you are telling your billionaire pals.

  2. CentralEditz

    July 1, 2020 at 9:17 pm

    New world order

  3. Filip

    July 1, 2020 at 9:21 pm

    Hi

    • Charlie KINGSTON

      July 1, 2020 at 11:45 pm

      Tell you’re like 50 years old dude

  4. Scot Fretwell

    July 1, 2020 at 9:23 pm

    They want to track everything you do. In ways you cannot understand.

    • T Cash

      July 1, 2020 at 9:43 pm

      Scot Fretwell facts that’s why they can’t be trusted

  5. Devil Dog

    July 1, 2020 at 9:25 pm

    Covid19 Hoax to crash the world economy and the dollar

  6. Innocent O.

    July 1, 2020 at 9:30 pm

    I finally found the woman who’s voice is used for the text to speech feature in phones.

  7. Finn MacCool

    July 1, 2020 at 9:31 pm

    Remember, the liberals want to destroy Western Civilization, and in fact, dissolve all nation-states, and enslave the entire human race to an un-elected socialist world government.

    • Rouge Starlight

      July 1, 2020 at 9:47 pm


      Sources?

    • Lemon Pie

      July 1, 2020 at 10:04 pm

      @Rouge Starlight his momma told him

    • yoshreimi

      July 1, 2020 at 10:53 pm

      Untrue. People like you are the problem. Get responsible on your self education. Dont get your info from only one source

  8. AbiRose

    July 1, 2020 at 9:38 pm

    Trust is important but you always need diversification/ balance of powers/ avoidance of monopolies and oligopolies. Companies will always fail individuals and there ought to be other companies individuals can go to when they are unsatisfied or grieved.
    I think also, cash is valuable in that it helps individuals spend less. When you pay with cash, you realize tangibly how much you are paying and you’re more likely to be able to say no to things you don’t need. It hurts more to pay with cash than with a debit card. So paying with cash can be better for individuals. A lot of people “are struggling at the end of the month” not because they don’t make enough, but because they spend money on things they don’t need.

  9. J Loftus

    July 1, 2020 at 9:48 pm

    Welcome To The New (Pathologized) Totalitarianism
    Mass hysteria is its lifeblood. It feeds on existential fear. “Science” is its rallying cry. Not actual science, not provable facts, but “Science” as a kind of deity whose Name is invoked to silence heretics.

  10. KASPER the FAKE

    July 1, 2020 at 10:02 pm

    Man, you guys make ushering-in the antichrist’s kingdom seem so benevolent!
    here’s what the ancient scriptures tell us to expect in the end times:
    1. global governance
    2. global currency
    3. global unitarian spirituality.

    in this context, the covid agenda makes a lot of sense. you guys suck.

  11. W.T. Flux

    July 1, 2020 at 10:03 pm

    Anyone that CHOOSES TO BELIEVE in the Covid-19 hoax is bowing to completely unsubstantiated fear based programming, and are in fact partnering with the globalists. Wake up sheep!

    • Allie L.

      July 2, 2020 at 1:11 am

      you’ll think its a hoax until you get it yourself, hopefully you’ll learn a lesson if you are struggling to survive with the disease

  12. Kirk Patrick

    July 1, 2020 at 10:05 pm

    Lost me at ‘inclusive’. Her Gender Studies professor would be proud though.

  13. tim beard

    July 1, 2020 at 10:15 pm

    This is hilarious
    An
    Orwellian Dystopia

    Big Brother Corporations all over the world

    Covid 19 kills the old and weak

    The entire world economic system has been made worse by the attempt to save 0.02% of the population of people who would have died within less than a year of their comorbidities and underlying health conditions

    The lives of the young fit and healthy destroyed for zero benefit

    • Particle Config.

      July 2, 2020 at 12:34 am

      (pre-)diabetes rampant

  14. Joe Wilder

    July 1, 2020 at 10:30 pm

    I was surprised how well the unemployment dept. responded in CA. Two people in my family applied and received their checks. I heard at one point how few employees were servicing so many. They did a good job.

  15. Eugene Minton

    July 1, 2020 at 10:44 pm

    this is the thing, people think the pandemic is going to end. we have never cured the common cold. the covid will mutate just like so so many other things… the issue isn’t trying to beat it, it’s to try and keep up with it…where eventually we attempt to get ahead of it… may take quite a while. beyond treating the symptoms, we don’t have many options at the moment… thou vaccines are in the works…you have to remember how people feel about taking them…there will be part of the population that even if we succeed in that regard, will not take it..those who caught it and survived will be better at handling the next iteration of it of course. so ya we will end up paying without seeing a cashier or counter person, those jobs will be removed as will workers in warehouses and such… we are still generations from a cashless society but automated services and robotics will continue to expand and now they have the “to protect you from covid” as their calling cards. we absolutely need to step up our abilities to train people to do the jobs that remain, which will push the train at home / home schooling aspects…. because doing it in a college is too expensive for most to afford, unless they wish to get into debt for years. i appreciate the information thou…. i’m already 50 so who knows if i’ll see what changes are coming. hopefully this wont lead to wars before peaceful resolutions take hold.

  16. Stephen

    July 1, 2020 at 10:44 pm

    I need one of those PayPal track tops. The gyms are gonna open soon and I need to look clean.

  17. Michael Chen

    July 1, 2020 at 10:55 pm

    We all behind China on digital finance.

    • Charlie KINGSTON

      July 1, 2020 at 11:44 pm

      I’m behind you for your pleasure

    • Naledi Lebelo

      July 1, 2020 at 11:58 pm

      Facts.

  18. Geoff Thomson

    July 1, 2020 at 10:57 pm

    Banking FRAUD

  19. Let’s debate

    July 1, 2020 at 10:59 pm

    It means there will be a lot of the poorest people being left behind while the massive corporations struggle to maintain their profit margin

  20. Vashti H

    July 1, 2020 at 11:31 pm

    What happens to beggars who rely on cash handouts to survive😔

    • Charlie KINGSTON

      July 1, 2020 at 11:44 pm

      They rich As they just pretend

  21. Alex P

    July 1, 2020 at 11:39 pm

    Sorry no papal for me

  22. Charlie KINGSTON

    July 1, 2020 at 11:43 pm

    That lady looks like she’s high

  23. Q- Quoteshare

    July 2, 2020 at 12:35 am

    Thank you for sharing this video.

  24. Lisa Love Ministries

    July 2, 2020 at 12:42 am

    🕊Proverbs 28:13 & 26

  25. Kirstin Strand

    July 2, 2020 at 1:11 am

    What planet is this man inhabiting? US GOV aiding small businesses and consumers? Only the ones that lost jobs, and only temporarily.

  26. conscious illusion

    July 2, 2020 at 2:58 am

    imho the more people learn to be reasonable and responsible instead of being selfish and greedy the faster we can create systems that will not fall apart and which can benefit all of us…

    • Павел Загорский

      July 2, 2020 at 4:36 am

      What kind of system comrade? 🙂

    • cycling of life

      July 2, 2020 at 8:00 am

      @Chuffin ‘ell right on!

    • cycling of life

      July 2, 2020 at 8:02 am

      @Павел Загорский a NEW SYSTEM, not the same old proven to fail!

    • The commenter guy

      July 2, 2020 at 4:45 pm

      Chuffin ‘ell why is it null and void and what is it?

    • Acg blah

      July 2, 2020 at 6:56 pm

      Nice words. Non of which has to do with this plandemic.

  27. Sachithanandam Karthikselvan

    July 2, 2020 at 3:29 am

    Right talk at the right time.Thanks for the talk.

  28. Brandon Brooks

    July 2, 2020 at 4:36 am

    Hes talking about small businesses there are no more small businesses left

    • Павел Загорский

      July 2, 2020 at 4:54 am

      capital inevitably concentrates and consolidates, destroying small business

  29. alecoloxa

    July 2, 2020 at 4:59 am

    Please don’t talk about it yet. We are still afraid to die, in this kind of stage I’m not able to even think about the future…

  30. Help me reach 5k subs before corona ends

    July 2, 2020 at 5:01 am

    Please be safe from Corona Virus.

    also read my name hihi

  31. Akshay Bamane

    July 2, 2020 at 5:19 am

    It is really informative

  32. The Deducer

    July 2, 2020 at 5:21 am

    Is all of this true?

  33. zebu fleckvieh

    July 2, 2020 at 5:36 am

    What is this advertisement for PayPal? What happened to TED talks? By the way, PayPal is an absolutely awful company, with a thoroughly established record of manipulative and unscrupulous practices. Just google them. People have been crying out about this company for YEARS now. And this is a shameless plug for PayPal embedded into TED content. This absolutely compromises TED Talks. Why.

    • cycling of life

      July 2, 2020 at 8:18 am

      There hasn’t been a single with Ted Talk to watch in months!! They became too famous and got SOLD OUT!

  34. Emil H

    July 2, 2020 at 5:51 am

    i do not like paypal. tech companies, be aware of them. Paypal take 200 usd from me, account was suspended forever .Paypal is so blind, and fake claim can kill the life of a normal person.

  35. DownUnder

    July 2, 2020 at 5:52 am

    Covid1984.
    Google it !

  36. Suny12

    July 2, 2020 at 5:58 am

    Over 80 % of world transactions is cash and is not going to change because of the lack of security

  37. Ahmad Farrag

    July 2, 2020 at 6:22 am

    👍👍👍

  38. David Reid

    July 2, 2020 at 6:48 am

    I’d like to just point out that PayPal and eBay are one and the same. If you’ve ever tried as a new seller, to sell something on eBay, then you have probably experience the fact that, despite your buyer giving positive feedback, and the tracking you provided showing a successful delivery, PayPal will “hold” your money for weeks before they give it to you; and that’s after the they both, PayPal and eBay, take a fat cut! They are b@st@rd$!

  39. Od4n

    July 2, 2020 at 6:51 am

    Stopped the video at the first ad, actually even before the video started, can any kind person pls post the summary in bullets?

  40. Lucan Sanchez

    July 2, 2020 at 9:17 am

    Financial health starts with identification. Banks should be supplying identification card’s, that you can use as a birth certificate, driving licence, passport and banking. One identification card for everything needed in life. Issued to perants at birth that kids start using at school as part of education for life skills. A Internet streaming service is not necessary with a digital receipt system, a phone or computer is not essential for day to day life for people. Physical money is not necessary and has never been since the recipes system weather its a digital or physical recipe. A third party device is derived by the job market not the work force. A Phone or computer is a communication device a recipe is a signal not a third party, weather the signal Is in real time or not. We live in a working world and we are all consumers entertain or be entertained.

  41. Thomas Richardson

    July 2, 2020 at 12:12 pm

    Title was misleading, it didn’t talk about post covid at all.

    • zebu fleckvieh

      July 2, 2020 at 11:38 pm

      This is a PayPal ad embedded in TED content. It is a bait and switch. It is totally disheartening to see TED act as a corporate platform for dishonest gigantic companies like PayPal. Literally, if you want to be a corporate spokespiece, there are so many actually good companies doing actual good work. So many exciting companies. Compmanies building virtual worlds. Companies planning to mine space. Companies working on cleaning the ocean. But they use their credibility as TED to grant an ENTIRE episode to PayPal. PayPal is a proven disreputable organization, they freeze money and play shell games with your money, and I have lost enough to them to know EXACTLY what kind of giant monopolistic behemoth they are. Never buy a PayPal card. The money will vanish. Trust me please. And for the love of all that is good, don’t let PayPal become more powerful and eat up more market space.

  42. Aag_rah

    July 2, 2020 at 12:35 pm

    Smartphone under 25$ in India! Random bullshit here and there and you sound as an expert?

  43. Karlchen Müller

    July 2, 2020 at 1:06 pm

    Through my German glasses the consumer credits are a huge part of the problem. Why not forbid them? If you can afford sth, you can buy it. If you can’t, you can’t. End of story. Exceptions made for houses and maybe cars. Plus additionally for a basic fridge and stove. That’s it. But for sure no one in the world needs a consumer credit for a tv, iphone, latest sneakers etc. Consumer credits started to spread in Germany maybe like 10 years ago on luxury articles such as TVs and people are getting into the debt trap for these unnecessary reasons. It’s exploiting people at the low income /education end of society so that big corporations can make more profit. In Germany most people don’t even use credit cards but their ec card in every day life. Credit cards are only needed when renting a car, booking holidays or ordering on amazon. However, credit cards are not used to actually get a credit, you have to use them because the money receiving party only accepts credit cards.

  44. Yvette Bennett

    July 2, 2020 at 3:22 pm

    Read Revelation in the bible.

  45. siegfried greding

    July 2, 2020 at 5:38 pm

    end capitalisms and private property and private and public corporations and copy rights.
    and instead push for open source and personnel property and worker coops and planned economy
    and a constitutional direct liquid democracy with block chain voting .

  46. Acg blah

    July 2, 2020 at 6:55 pm

    What the Plandemic means….. corrected the title

  47. CyberCheese

    July 2, 2020 at 7:10 pm

    Wow all these commenters that are using their real names, lol

  48. Stugots

    July 2, 2020 at 7:26 pm

    Without even watching: “we’re excited to claim capitalism failed after COVID”

  49. Ava Matteucci

    July 2, 2020 at 7:51 pm

    Never thought Id see a TED Talk that misses so entirely

  50. john frink

    July 2, 2020 at 9:02 pm

    Just an interesting question for him. What will happen when internet goes down? It will. From lots of potential attackers one will succeed. I retired from cybersecurity position.

  51. charls smith

    July 4, 2020 at 8:19 am

    Elon musk owns more of PayPal not the other dude.

  52. NIKA - I very love s*x

    July 4, 2020 at 5:37 pm

    super, subscribe dude 🍄 🌦

  53. Sheree H.

    July 5, 2020 at 5:33 am

    Thank you

  54. Amit sarker

    July 5, 2020 at 7:03 am

    As a Bangladeshi, we have no paypal. Without having paypal, it’s very hard to do online transactions.

  55. David Ng

    July 5, 2020 at 1:02 pm

    Dan Shulman is a forward thinking CEO who cares a great deal for the rank and file.

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