A lot is being written about Facebook's foray into crypto-currency, Libra. This piece of on Huffpost echoes my sentiments exactly
..what Facebook is proposing is a really stupid investment scheme masquerading as a digital currency. It’s a proposal that immediately demands regulatory scrutiny of Facebook from every financial authority in the world. For a company that has spent the past two years engaged in mass privacy violations, accidental corporate alliances with authoritarian agitators and livestreams of outright terrorism, Facebook’s attempt to enter the world of high finance with so slipshod an idea can only be described as delusional.
There is only a slight problem with this delusion as it concerns the rest of us. Facebook has mastered doing gross wrong, being in denial and then faking contrition in that order. So far there have been few if any consequences for that. We all collectively marvel at the imperial hubris of Zuckerberg and he continues doing even more egregious things without missing a beat. No surprise then that he would think it is time to step up the game a bit and try to control the flow of money in the world too.
Based on past performance Facebook can do a ton of damage and get away with it nice and easy. They have been emboldened by inaction on our part. Each one of us who still has a Facebook account is culpable at this point.
crossings as in traversals, contradictions, counterpoints of the heart though often not..
Subscribe to my Substack: Signals in the Noise
Subscribe to:
Post Comments (Atom)
More Human
I had an interesting experience at work a while back involving me and a co-worker who is convinced AI is a fad that will implode on itself a...
-
An expat desi friend and I were discussing what it means to return to India when you have cobbled together a life in a foreign country no ma...
-
Recently a desi dude who is more acquaintance less friend called to check in on me. Those who have read this blog before might know that suc...
-
Published in Serenelight Shiv is fond of saying that he is left where magic realism meets Haiku and remembers having mentioned this to Joie...
No comments:
Post a Comment