India, Feb. 4 -- Nearly 12 years after leaving PayPal, former president David Marcus has raised concerns about the fintech giant, saying that the San Jose-based company has "lost its mojo" and its product edge amid years of strategic missteps. In a long post on X, Marcus spoke about several flaws in PayPal across its history. He left PayPal in 2014 and has since worked at Coinbase and Meta. He has also founded a payments company, Lightspark, where he is now CEO.

In his post, Marcus said that he broke his long silence after receiving "dozens of messages from former PayPal colleagues". "A few thoughts about PayPal, nearly 12 years after I left. Twelve years of silence is long enough. And today's news makes it clear the pattern I've watched...