Facebook announced Facebook Pay, which is far different from Libra. Then, Google is apparently getting into checking, which leads to a question of motivations: each of the tech companies are approaching financial services from a different angle.
SoftBank is rescuing WeWork in a very strange transaction, then re-visiting what I have written about WeWork. Plus, Zuckerberg’s appearance in Congress confirmed why Libra is the wrong approach for the company.
Libra launches, but may be dead before it begins. Then, Facebook v Warren is a reminder of the value of the U.S. approach — and an indirect way to explain how silly San Francisco is.
Libra had a chilly reception at Capitol Hill, which highlighted a fundamental tension between Internet companies and lawmakers. Then, why it was inevitable that Facebook would make Libra, and why it was probably the wrong choice.
While Facebook, Libra, and the Long Game was about analysis, this Daily Update is about opinion: I don’t think Libra is a good idea.
An interview with Kevin Weil, the VP of Product at Calibra, and Dante Disparte, the Head of Policy and Communications at the Libra Association, about Libra and Calibra.
Libra is less about an immediate benefit to Facebook, and more about creating a world where companies like Facebook have the best chance to prosper. That is why Facebook gave up so much control.