News Summary

• PayPal is looking toward the future, despite its falling stock and looming layoffs.
• In its first-quarter earnings call, CEO Enrique Lores told investors that PayPal needs to “recommit to the fundamentals,” which included “becoming a technology company again.” It’s a startling admission from PayPal that it has yet to fully embrace AI in-house, when AI-assisted coding is one of the breakout areas where the technology has truly excelled.
• Other consumer tech companies have rapidly adopted AI in recent months to assist with coding, with Spotify even declaring in February that its top developers haven’t written a line of code since December.