Can Facebook Lead?
A Google news search for Facebook reveals one thing: the news for Facebook has not been good. Antitrust violations, Russian trolls returning for the 2020 elections, takedowns of misinformation campaigns, Libra’s struggles and more bad news make up the headlines I’m seeing today. The headlines are different from a year ago, but the takeaway is the same: Facebook is struggling to come to terms with its massive size and scale.
This week Mark Zuckerberg appeared before Congress to make the case for Facebook’s digital currency Libra. HIs argument boiled down to one main thing: if the U.S. doesn’t lead with a global cryptocurrency, someone else (read China here) will. He stated that he’s willing to link Libra closely to the dollar and said Libra won’t operate anywhere U.S. regulators don’t approve.
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