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PayPal CEO Explains How to Create a Great Board in Silicon Valley

PayPal CEO Dan Schuman is no stranger to building, and running, public companies. So it's no surprise he offered some great advice to embattled Silicon Valley on how to create a great board of directors.
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Silicon Valley's actions have been in the news throughout the year. 

From a now ex-Google (GOOGL) - Get Alphabet Inc. Class A Report worker penning a missive on the lack of workplace diversity to Uber's internal meltdown to the Equifax (EFX) - Get Equifax Inc. Report hack, the tech crowd has come under heavy fire from critics. But despite the heavy dose of bad press, PayPal (PYPL) - Get PayPal Holdings, Inc. Report CEO Dan Schulman believes Silicon Valley could be fixed -- and it very much starts with getting the board composition right. 

First and foremost, Schulman thinks companies must know where they are going before establishing a good board. Schulman was optimistic that Silicon Valley's culture, which in many respects stems from the board, could be fixed. 

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"I absolutely believe that companies have a moral obligation to be a force for good -- that means you have to act on it, not just talk about it." Added Schulman, "technology can play a great role in being an inclusive force, and I think it has to do that -- it can not drive further divide, we have enough of that in our world and country." 

Schulman knows a thing or two about boards. He is the current chairman of Symantec (SYMC) - Get Symantec Corporation Report , former president of Nextel, former CEO of Virgin Mobile USA and the former CEO of Priceline (PCLN)

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