PayPal: evil or godsend?

This week Paypal went public and rocked Wall St. by gaining over 50% in the first day of trading. But then I read about Ev’s experience this week and the even more absurd stories at NoPayPal. And a number of states, including Louisiana, are pursuing them for providing banking services without a banking license. So one has to wonder where the company’s true longterm prospects lie. Meanwhile his need to convert to credit card acceptance and processing is displacing Ev’s efforts from updating the Blogger API and the new version of Blogger, dammit!