Libra Vox

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.