Reid Hoffman and Carl Icahn Are Both Right

Reid is right that commerce and payments are a powerful combination, not disparate platforms, but Icahn is right that eBay is covering up PayPal's value.

PayPal needs to be the parent company and eBay the subsidiary. Only then will they be able to compete with Square, Amazon, and Google for the top talent in the payments and commerce spaces and complete the vision that Reid and others had when they engineered the eBay deal nearly 12 years ago.

It's never as simple as Wall Street vs Silicon Valley.