The activist investor also said he continues to believe that eBay Inc (NASDAQ:EBAY) should spin off PayPal into a separate company. He doesn't think Donahoe should have anything to do with running PayPal and sees significant value in a spinoff. Specifically, he thinks it would attract great management for the company and just be good for business in general. He noted that PayPal gave up China to protect eBay, so splitting them may open up new doors for PayPal.