Former PayPal Exec: This Is The 'John Sculley Era' Of PayPal And It Should Break Off Of Ebay

Keith Rabois, a former PayPal exec and current venture capitalist, told Bloomberg that he thinks that eBay and PayPal are better apart.

Rabois, part of the famed group of early employees called the "PayPal Mafia," says that we're in the "John Sculley Era" of PayPal. He believes that remaining a part of eBay dramatically slows down the company's innovation.

(For those unfamiliar, Steve Jobs brought in John Sculley to provide Apple some "adult supervision," in the 80s. Sculley ended up firing Jobs two years later, and we saw what happened to Apple.)

Rabois also says that he thinks that eBay is wasting time and effort responding to all of Carl Icahn's dramatic open letters insisting that the company replace several of its board members and move towards the separation of PayPal.

"It's like that Shakespeare line," Rabois says. "The lady doth protest too much, me thinks."

He also said that eBay should ask some of the "old PayPal blood" - members of the PayPal Mafia - to join eBay's board.

Watch the full video of Rabois' interview: