Paypal is one of the hidden mines that await startups - you could have had your smartest engineers working on it for months, possibly sinking the whole endeavor as other (actually important) things fail to get done. Unless you have engineering assets to burn, Paypal is absolutely toxic.
The actual bullet dodged is PayPal's tendency to freeze your account and the funds within for six months without warning, explanation or appeal. That'll kill a startup real quick.
Paypal is one of the hidden mines that await startups - you could have had your smartest engineers working on it for months, possibly sinking the whole endeavor as other (actually important) things fail to get done. Unless you have engineering assets to burn, Paypal is absolutely toxic.