Evidence receipt / belief
Published · transcript-backedBen Gilbert: belief
16 Aug 2017 Acquired The Square IPO
“The interesting data point around this is, both PayPal and I think Verifone was the other one that basically weren’t doing the underwriting in the way that Square does and they were taking huge losses.”
Source trail
Everything needed to verify it.
- Speaker
- Ben Gilbert
- Attribution
- Verified speaker
- Claim type
- belief
- Recorded
- 16 Aug 2017
- Publisher
- Acquired
- Episode
- The Square IPO
Transcript context
…Oh man, that thing was so ugly. The interesting data point around this is, both PayPal and I think Verifone was the other one that basically weren’t doing the underwriting in the way that Square does and they were taking huge losses. So they were actually subsidizing payments when they realized, oh crap, there’s this entire new class of merchants emerging. They didn’t have the underwriting system and basically the machine learning system. I mean, that wasn’t all the rage yet but effectively, machine learning system to constantly be learning and constantly basically be re-underwriting that merchant after every transaction. And whether new merchants and existing merchants were going to be fraudulent or not.…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.