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Bill Ackman has been vocal on this issue and check out his Twitter for more commentary on this. He feels Visa's board is in big trouble here.

• sandworm101 4y ago
  >> He feels Visa's board is in big trouble here. Visa is too big to ever be in big trouble. They constantly have some class of customers that are "dangerous" to do business with. Once upon a time it was porn websites. Then it was VPNs. Then it was "filesharing" services. Eventually as these thing become normal and better-understood by the general public Visa relents. The only thing Visa really fears is some upstart payment system eating into their territory (paypal).
  • giarc 4y ago
    IANAL but I believe the board can be held criminally liable in this situation, meaning they could serve jail time. I've, admittedly, only skimmed some articles, but I believe the issue is that PornHub (mindgeek) knowingly hosted child porn and even after Visa was made aware, continued to do business with them. I could be wrong though.
    • sandworm101 4y ago
      The danger too is a bit of the Streisand effect was ongoing. Footage that was taken down became more popular when re-uploaded. From the outside, it looked like Mindgeek was not implementing industry-standard protocols to prevent repeated uploads. And they were pulling "windfall" profits from those re-uploads. The situation looked too similar to the "Girls Gone Wild" and later fiascos involving non-professional pornographic content.
• stlewis6 4y ago