In a discussion about the rapid evolution of technology, it is highlighted that artificial intelligence (AI) is transforming industries by enabling companies to personalize products and reduce fraud. The conversation emphasizes the importance of digitizing financial infrastructure, which allows for instantaneous and cost-effective transactions, thereby increasing inclusivity in the economic system. The potential of AI to reshape economies and provide medical attention is also discussed, with a focus on its ability to reduce inequality. However, there is concern about AI's impact on employment,...
What Dan Schulman said
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Dan Schulman, vice chairman and managing partner of Valor Capital Group and former president of PayPal, discussed the rapid digitization of financial systems and the transformative potential of AI. He said the next five years will bring more change to the financial system than the past 30 to 50 years, driven by instant transactions at 1/100th the cost and greater inclusion. Schulman noted PayPal's 435 million users and emphasized the need for continued innovation and cooperation with regulators. On AI, he highlighted productivity gains, personalized products, and fraud reduction, but warned of workforce displacement and the need for global regulatory harmonization. He expressed belief that AGI could be reached in three to five years. In venture capital, he focuses on digitizing financial infrastructure using blockchain technologies like Bitcoin, Ethereum, and Solana, which he says can reduce costs and bring the unbanked into the system, potentially reducing inequality.
Key takeaways
Schulman predicts more change in the financial system in the next 5 years than in the past 30 to 50 years.
He believes AGI could be achieved within 3 to 5 years, fundamentally reshaping economies and companies.
PayPal has 435 million users worldwide, showing the fintech market's maturity.
Digital transactions cost 1/100th of traditional ones, driving inclusion and efficiency.
Schulman sees blockchain technologies like Bitcoin, Ethereum, and Solana as key to digitizing financial infrastructure.
Numbers and commitments
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What it refers to
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5 years
Timeframe for more change in financial system than past 30-50 years
Well, I think in general, we're going to probably see more change in the next 5 years in the financial system than we've seen in the past 30 maybe to 50 years. Things are changing so fast technologically that you're seeing what were more analog forms of payments and banking services all go digital. And the reason for that is that transactions can be done instantaneously as opposed to taking hours or days. And they can be done at 1/100th the cost of traditional transactions. And it becomes more inclusive, more people can come into the economic system. So there are so many powerful reasons why the system is changing and PayPal helped to lead the way there.
Well, we have 435 million people around the world using PayPal. So I don't think it was probably ahead of its time. I think it needs to continue to innovate. I think we need to work closely with governments and regulators around the world to assure that as many of the benefits of the financial tech revolution reach as many people as possible. So I think PayPal is early on. It's been a company for more than 20 years. But I think it's hit the market and it's hit the sweet spot of the market.
Well, I think what we've seen overall in not just the financial sector but across many sectors because you know people talk about fintech but pretty much every big financial institution is becoming a fintech. Manufacturing companies are utilizing technology and I think what you're seeing is that technology is allowing you to be well more productive than before. It enables us to do things faster. It enables us to do things more consistently. It enables us to do things at a fraction of the cost. And so all of those things need to be put into place for companies to be successful as they look ahead. The other powerful thing about AI is that it enables the data that a company can collect and utilize that data to personalize and customize their products almost at an individual level and in a much safer way than ever before. Like we can reduce fraud levels dramatically, reduce incidences of cyber crime. And so there are so many things that AI will unleash for companies across multiple industries.
I think when it comes to AI, it is a technology that is moving as rapidly as you can imagine. It is iterating and changing faster than any other technology we've seen in the past and we've obviously seen a lot of technological changes as we look backwards but this will be so much faster and as a result of that it's harder for regulators because it's changing so much. We're in its early innings right now and we want to make sure that we don't stifle its creativity and its innovation and yet we want to be sure that we have the right guard rails around the technology to make sure that it works for humanity not against humanity. And to make it even more difficult it needs to be harmonized around the globe. It does no good if one country has a set of AI regulations and another has something different especially if the technology is more global in its deployment than in an individual country.
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Schulman, D. (2026, May 11). FII Institute 8th Edition: Dan Schulman - Vice Chairman & Managing Partner, Valor Capital Group [Interview transcript]. FII Institute. CEOInterviews.AI. https://ceointerviews.ai/interview/902302/
MLA
Dan Schulman. "FII Institute 8th Edition: Dan Schulman - Vice Chairman & Managing Partner, Valor Capital Group." FII Institute, 11 May. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/902302/.
BibTeX
@misc{schulman2026_902302,
author = {Dan Schulman},
title = {FII Institute 8th Edition: Dan Schulman - Vice Chairman \& Managing Partner, Valor Capital Group},
howpublished = {Interview transcript, FII Institute. CEOInterviews.AI},
year = {2026},
month = {may},
url = {https://ceointerviews.ai/interview/902302/},
note = {Speaker-attributed transcript with timestamps}
}
