Travis Hoium

One of the options is to just keep buying back shares.

They can buy somewhere between 10% and 15% of shares outstanding pretty easily each year.

But does a sale maybe make more sense?

Lou, Stripe was one of the names that has come up this week.

They're still private, but there's a lot of hype behind Stripe.

They're very highly valued.

I think $159-ish billion valuation, whereas PayPal is profitable and only has about a $40, $45 billion valuation.

Strategically, would Stripe make any sense?

And then if we want to open the can of worms, how in the world would they pull off a deal?

When you are in private markets, you're not being marked every day the way that PayPal is.

So it's very possible that their market clearing price is more like $60 billion.

Yeah.

Rachel, what do you think?

Does Stripe make any sense as a buyer?

It's fun to talk about, but every time I think through it, Lou's right.

They are kind of the Switzerland.

They're very much a digital company.

PayPal is trying to move more into the physical world in a lot of different ways.

So I don't know.

There could be pluses and minuses.