He was clearly wrong on this one No, he was right. In 1996 people were just scared of using their cards online. No one big was doing it yet, consumers didn't t

He was clearly wrong on this one No, he was right. In 1996 people were just scared of using their cards online. No one big was doing it yet, consumers didn't trust anything about the end-to-end process. There are more risks now than there were then, if anything (given how many trojans and hackers there are targeting cards now), but people are used to it now. Paypal didn't bring any particularly new technology, they just bought confidence and bigness.