Comments by "TJ Marx" (@tjmarx) on "TechAltar" channel.

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  6. Don't be naive. Facebook benefits by inviting hand picked large companies and charities onto the table and it isn't about "sharing responsibility". Let's look at who is in the association Both major ride sharing vendors, Uber and Lyft. The most popular, market leading music streaming service Spotify who own more than 1/3 of the market. Farfetch, the most popular online retailer in hollywood (ie. where all the influencers shop). eBay and it's South American counterpart MercadoLibre, between them holding more than 80% of the auction market in the Americas. Booking holdings who run Booking.com, Priceline.com, Agoda.com, Kayak.com, Cheapflights, Rentalcars.com, Momondo, and OpenTable which is very important to have on board. Women's World Bank, Mercy Corps and Kiva, all of which are financial based non-profit 501(c) organisations, involved in the transaction &/or lending of money to the most vulnerable. Visa, Mastercard, Paypal, Stripe and PayU which between them hold more than 90% of payment processing globally. Vodafone and iliad, two of the largest mobile telephony providers on the planet. Coinbase, Anchorage, BisonTrails & XAPO, huge names in the crypto world that add legitimacy to the whole project and Thrival Capital, Rabbit Capital, Union Square Ventures, Creative Destruction Lab, & Andreessen Horowitz who between them represent the majority investment in the tech industry. These companies weren't by accident. They allow for utter blanket marketing. Want to ride share? "Why not use Libra to pay?" Want to listen to music? "Why not use Libra to pay?" Want to buy something in an online auction? "Why not use Libra to pay?" Want to pay in store using your existing Visa or Mastercard, or accept payments using Paypal or Stripe? "Did you know it's way more secure for you using Libra?" Want to travel for business, rent a car and book a holiday? "Why not use Libra to pay and keep your money safe by using Libra on your trip?" Vulnerable person getting a microloan from the 3 gigantic non-profits? "Did you know we only transfer in Libra now?". Need investment in your new tech start-up? "Sure, we'll give you the capital, btw you have to accept Libra". Want the latest new smartphone? "Did you know you can say $X / month on your plan if you pay in Libra?" But it's more than just that, having these other organisations on board gives this plan legitimacy. The 4 crypto exchanges give it legitimacy to the crypto world, the 5 traditional payment processors give it regulatory legitimacy to government. The 5 investment houses give it legitimacy to the investment community. This is a disaster waiting to happen and should unequivocally not be allowed to proceed (but it will be).
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