Surely parent comment starting with "Venmo came first" indicates that they don't see PayPal and Venmo as competing in the same space.
PayPal owns Venmo, and Venmo's profits help sustain PayPal. PayPal's business practices have rightly come under heavy scrutiny, which means that, for quite a few people, there is a compelling "reason to switch" in spite of the fact that it "came first".
Ah, I wasn't aware PayPal owned Venmo.
The article notes that Venmo is currently operating at a loss.
Cash used to offer instant automatic withdrawals to your bank. Now they delay it by a couple business days (and charge for instant), but at least it's automatic. Venmo, I have to manually withdraw every time I get money.
I assume you meant deposit, not withdraw right?
Nope, withdraw. I don't want to let Venmo hold my money for free. I prefer to have it in my bank account.