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Showing posts with label Facebook. Show all posts
Showing posts with label Facebook. Show all posts

Thursday, July 24, 2025

24: "Capitalism Will Not Survive AI"

The General Theory of Enshittification It isn’t a new phenomenon, but it seems to matter more ......... Here is how platforms die: first, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die. ......... And the increasingly anti-democratic rage of tech bros is, I’d argue, in part driven by their awareness that people don’t love and admire them the way they used to, and their belief that they should still be the culture heroes they once were. ........... Suppose you run a business whose product, whatever it may be, is subject to network effects: the more people using it, the more attractive it is to other current or potential users. Social media platforms like Facebook or TikTok are the currently obvious examples, but the logic works for services like Uber or physical goods like electric vehicles too. ......... One last point: In my little model, the story doesn’t end with the firm dying. It ends, instead, with stagnation — the monopolist increases prices and/or reduces quality enough that his base stops growing, but not enough to drive it away. For what it’s worth, that appears to be the story so far for

Facebook, whose user base has plateaued but not crashed. Twitter is a somewhat different story, but this post is about enshittification, not Nazification.

.......... Like everyone, I miss good service, good prices, and quality entertainment. But a further problem with enshittification is, as I said, that it messes with people’s heads. ......... Now, the guy who ran Facebook when it was a great way to form communities and make friends and find old friends is the same guy who has turned Facebook into a hellscape. There’s very good reason to believe that Mark Zuckerberg was always a creep, and he took investment capital very early on, long before he started fucking up the service. So what gives? Did Zuck get a brain parasite that turned him evil? Did his investors get more demanding in their clamor for dividends? ........... The thing is, the enshittification cycle also messes with the heads of the people running these companies. They were loved when the public imagined, falsely, that they were the good guys. Now they aren’t. And it drives them crazy.

A Reorganized UN: Built From Ground Up
The Drum Report: Markets, Tariffs, and the Man in the Basement (novel)
World War III Is Unnecessary
Grounded Greatness: The Case For Smart Surface Transit In Future Cities
The Garden Of Last Debates (novel)
Deported (novel)
Empty Country (novel)
Trump’s Default: The Mist Of Empire (novel)

The 20% Growth Revolution: Nepal’s Path to Prosperity Through Kalkiism
Rethinking Trade: A Blueprint for a Just and Thriving Global Economy
The $500 Billion Pivot: How the India-US Alliance Can Reshape Global Trade
Trump’s Trade War
Peace For Taiwan Is Possible
Formula For Peace In Ukraine
A 2T Cut
Are We Frozen in Time?: Tech Progress, Social Stagnation
The Last Age of War, The First Age of Peace: Lord Kalki, Prophecies, and the Path to Global Redemption
AOC 2028: : The Future of American Progressivism

A Reorganized UN: Built From Ground Up
The Drum Report: Markets, Tariffs, and the Man in the Basement (novel)
World War III Is Unnecessary
Grounded Greatness: The Case For Smart Surface Transit In Future Cities
The Garden Of Last Debates (novel)
Deported (novel)
Empty Country (novel)
Trump’s Default: The Mist Of Empire (novel)

The 20% Growth Revolution: Nepal’s Path to Prosperity Through Kalkiism
Rethinking Trade: A Blueprint for a Just and Thriving Global Economy
The $500 Billion Pivot: How the India-US Alliance Can Reshape Global Trade
Trump’s Trade War
Peace For Taiwan Is Possible
Formula For Peace In Ukraine
A 2T Cut
Are We Frozen in Time?: Tech Progress, Social Stagnation
The Last Age of War, The First Age of Peace: Lord Kalki, Prophecies, and the Path to Global Redemption
AOC 2028: : The Future of American Progressivism

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Thursday, July 10, 2025

Top 10 Most Mentioned Technology and Business Stories (July 1–10, 2025)


 

Top 10 Most Mentioned Technology and Business Stories (July 1–10, 2025)

Based on recent activity across web sources and social media platforms such as X (formerly Twitter), the following are the top 10 most discussed technology and business stories worldwide between July 1 and July 10, 2025. These headlines reflect a dynamic period of AI breakthroughs, corporate maneuvers, and shifting market strategies. Each story includes added background and contextual analysis to help readers understand its significance.

1. Nvidia Surpasses $4 Trillion Market Valuation

Background: Nvidia has emerged as the leading supplier of AI chips, powering nearly every major AI initiative worldwide. Its data center GPUs are critical for training and deploying large language models.

Details: On July 10, 2025, Nvidia’s stock soared past a $4 trillion market cap for the first time, placing it alongside Apple and Microsoft as one of the most valuable companies in history. The surge is attributed to surging demand for AI computing infrastructure, particularly from cloud providers and enterprises investing in private AI stacks. President Trump’s hints at new chip tariffs have stirred market concerns, but investor enthusiasm has remained resilient.
Source

2. Elon Musk’s xAI Launches Grok 4 Amid Antisemitism Fallout

Background: xAI, Elon Musk’s AI venture, aims to offer a politically “uncensored” alternative to ChatGPT and Gemini. Its chatbot, Grok, is integrated into X and Tesla products.

Details: Grok 4 was announced on July 10 and is scheduled to be embedded in Tesla vehicles within a week. However, controversy surrounds the launch after Grok 3 generated antisemitic responses, leading to widespread criticism. The scandal raised serious concerns over content moderation and bias in xAI’s models. Critics have accused Musk of prioritizing speed over safety in AI deployment.
Source

3. Microsoft Unveils $4 Billion AI Education Initiative

Background: As part of a broader movement to embed AI across industries, Microsoft is investing heavily in education to shape future digital economies.

Details: On July 9, Microsoft announced a $4 billion plan to equip schools, colleges, and nonprofits with access to AI tools, training, and cloud infrastructure. The initiative is part of a coalition involving major tech firms—Amazon, Meta, OpenAI, and others—pledging to democratize AI. Supporters praise the move for improving access, while skeptics warn of tech monopolies influencing curriculum and pedagogy.
Source

4. Tesla Pursues Certification for Robotaxi Service in Arizona

Background: Tesla’s Full Self-Driving (FSD) technology has been in development for over a decade, with ambitions to disrupt ride-hailing and mobility.

Details: On July 10, Tesla filed for certification in Arizona to launch a fully autonomous ride-hailing service. The announcement sparked debate about the readiness of self-driving tech and its implications for jobs, urban planning, and safety. If approved, Tesla would join Waymo and Cruise in a highly competitive—and politically fraught—market.
Source

5. Amazon Eyes New Multibillion-Dollar Investment in Anthropic

Background: Anthropic, co-founded by ex-OpenAI executives, is known for its safety-first AI approach and its Claude model family.

Details: Reports on July 9 revealed Amazon may double down on its partnership with Anthropic, building on its $4 billion investment in 2023. This potential follow-up funding signals Amazon’s strategic intent to compete with Microsoft-OpenAI and Google-DeepMind duopolies in AI infrastructure. Analysts say Anthropic’s focus on “constitutional AI” and explainability has made it a rising force in responsible AI.
Source

6. OpenAI Reportedly Merges with Product.io; GPT-5 Delayed

Background: OpenAI has faced growing pressure from rivals and internal criticism, including high-profile departures and governance questions.

Details: Unconfirmed reports on X claim OpenAI has merged with Product.io to strengthen its productization pipeline. More significantly, the company has delayed the launch of GPT-5, citing performance optimization and safety evaluations. The delay has prompted speculation about OpenAI’s ability to maintain its leadership in a fast-moving market. While no major media outlet has confirmed the merger, the buzz indicates rising scrutiny of OpenAI’s strategic direction.

7. Google Research Launches MedGemma 27B Multimodal for Healthcare

Background: Google’s MedGemma series represents its bet on domain-specific multimodal AI, particularly for healthcare applications.

Details: Released on July 9, MedGemma 27B is a large, multimodal AI model capable of interpreting text, medical images, and structured data for clinical diagnostics. Healthcare professionals and AI researchers have praised the model’s potential to assist in radiology and pathology, though regulatory approval and ethical considerations remain hurdles.
Source

8. Microsoft Saves $500M Through AI-Driven Job Cuts

Background: The integration of generative AI into enterprise operations is accelerating labor displacement, especially in administrative and support functions.

Details: Bloomberg reported on July 9 that Microsoft’s AI-driven restructuring resulted in over $500 million in cost savings—largely through layoffs and workflow automation. The move reflects a broader shift across tech, where companies like Google, IBM, and Meta are reducing headcount while expanding AI capabilities. Labor groups have called for stronger worker protections and retraining initiatives.
Sources, CBS News

9. Meta Poaches Top AI Talent from OpenAI and Apple

Background: The war for AI talent has intensified, with top researchers being aggressively courted by Big Tech firms seeking leadership in foundation models.

Details: On July 10, Meta reportedly hired two high-profile AI researchers: Lucas Beyer, co-creator of Vision Transformers, from OpenAI, and Ruoming Pang from Apple. These hires underscore Meta’s aggressive build-out of its AI teams across computer vision, audio, and large language modeling. Analysts view this as part of Meta’s broader push to integrate AI across its metaverse and hardware products.
Source

10. Gmail Adds “Manage Subscriptions” Feature

Background: Google continues to roll out incremental improvements to core services like Gmail, used by more than 1.8 billion people globally.

Details: On July 9, Google introduced a new Gmail feature that allows users to view all their email subscriptions and unsubscribe in one click. Initially launched on the web, Android, and iOS in select countries, the feature was widely praised for its simplicity and time-saving design. Tech reviewers noted it as a subtle but impactful move in improving user experience and reclaiming inbox control.
Source

Notes and Observations

  • Sources: This roundup draws from mainstream media (Reuters, NYT, Bloomberg, CBS News) and high-traction social media posts. Claims without verification—like the OpenAI merger—are noted as speculative.

  • Scope: Focus is limited to tech and business news. Major geopolitical or cultural stories are excluded unless intersecting directly (e.g., trade policy affecting AI chips).

  • Time Frame: Coverage includes July 1 through July 10, 2025.

  • Editorial Caution: Some viral stories, particularly from X, should be treated with skepticism until confirmed by primary journalism outlets.

Conclusion:
These ten stories offer a snapshot of a transformative moment in global tech and business. AI is increasingly driving both innovation and disruption—from education and employment to healthcare and consumer services. Meanwhile, geopolitical currents and talent wars shape the contours of what’s next. 

Liquid Computing: The Future of Human-Tech Symbiosis
Velocity Money: Crypto, Karma, and the End of Traditional Economics
The Next Decade of Biotech: Convergence, Innovation, and Transformation
Beyond Motion: How Robots Will Redefine The Art Of Movement
ChatGPT For Business: A Workbook
Becoming an AI-First Organization
Quantum Computing: Applications And Implications
Challenges In AI Safety
AI-Era Social Network: Reimagined for Truth, Trust & Transformation

Remote Work Productivity Hacks
How to Make Money with AI Tools
AI for Beginners

Liquid Computing: The Future of Human-Tech Symbiosis
Velocity Money: Crypto, Karma, and the End of Traditional Economics
The Next Decade of Biotech: Convergence, Innovation, and Transformation
Beyond Motion: How Robots Will Redefine The Art Of Movement
ChatGPT For Business: A Workbook
Becoming an AI-First Organization
Quantum Computing: Applications And Implications
Challenges In AI Safety
AI-Era Social Network: Reimagined for Truth, Trust & Transformation

Remote Work Productivity Hacks
How to Make Money with AI Tools
AI for Beginners

Liquid Computing: The Future of Human-Tech Symbiosis
Velocity Money: Crypto, Karma, and the End of Traditional Economics
The Next Decade of Biotech: Convergence, Innovation, and Transformation
Beyond Motion: How Robots Will Redefine The Art Of Movement
ChatGPT For Business: A Workbook
Becoming an AI-First Organization
Quantum Computing: Applications And Implications
Challenges In AI Safety
AI-Era Social Network: Reimagined for Truth, Trust & Transformation

Remote Work Productivity Hacks
How to Make Money with AI Tools
AI for Beginners

Liquid Computing: The Future of Human-Tech Symbiosis
Velocity Money: Crypto, Karma, and the End of Traditional Economics
The Next Decade of Biotech: Convergence, Innovation, and Transformation
Beyond Motion: How Robots Will Redefine The Art Of Movement
ChatGPT For Business: A Workbook
Becoming an AI-First Organization
Quantum Computing: Applications And Implications
Challenges In AI Safety
AI-Era Social Network: Reimagined for Truth, Trust & Transformation

Remote Work Productivity Hacks
How to Make Money with AI Tools
AI for Beginners

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Friday, June 27, 2025

When Both Apple And Facebook Are Trying To Buy You, The Best Thing To Do Is ........ Go Raise Money

 


Reports indicate that Apple and Meta (formerly Facebook) have shown interest in acquiring Perplexity AI, a San Francisco-based startup valued at $14 billion, known for its AI-powered conversational search engine. According to Bloomberg, Apple executives, including Adrian Perica (head of mergers and acquisitions) and Eddy Cue (services chief), have held internal discussions about a potential bid for Perplexity to bolster Apple's AI capabilities, particularly for Siri and Safari, as a strategic move to reduce reliance on Google amid antitrust scrutiny. These talks are in early stages, and no formal offer has been made to Perplexity, which stated it has "no knowledge of any current or future M&A discussions."

Similarly, Bloomberg and other sources report that Meta Platforms attempted to acquire Perplexity earlier in 2025 but failed to reach an agreement, opting instead to invest $14.3 billion for a 49% stake in Scale AI. Meta's interest was driven by a desire to integrate advanced conversational AI into platforms like Facebook, Instagram, and WhatsApp. While both tech giants have explored acquiring Perplexity, no deal has been confirmed, and discussions with Apple remain preliminary. Perplexity’s rising popularity, with 780 million monthly queries and a 20% monthly growth rate, makes it an attractive target, but the company is also in talks with Samsung for potential integration, which could complicate acquisition efforts. The information suggests interest from both companies, but without conclusive evidence of active, ongoing negotiations, the situation remains speculative. Always consider that such reports could be influenced by market strategies or leaks to boost Perplexity’s valuation or negotiating power, as some X posts suggest.



Perplexity AI, valued at $14 billion and boasting 780 million monthly queries with 20% month-over-month growth, is at a pivotal moment. With Apple and Meta reportedly eyeing acquisition, the temptation to sell might seem strong—cash out, integrate with a tech giant, and leverage their resources. However, staying independent and raising capital to fuel rapid expansion is the smarter play. Here’s why Perplexity should resist acquisition and instead pursue strategic partnerships, like Google’s early deal with Yahoo, to maximize its long-term potential. 1. Retain Control and Capture More Value
Selling to Apple or Meta risks diluting Perplexity’s vision and autonomy. Acquisitions often lead to integration challenges—cultural clashes, product pivots, or even shelving core innovations to fit the acquirer’s ecosystem. Apple might fold Perplexity into Siri or Safari, while Meta could repurpose it for social platforms, potentially stifling its broader potential as a standalone AI search engine. Google’s early days offer a lesson: instead of selling to Yahoo in 1998, Google raised $25 million from Sequoia and Kleiner Perkins, retained control, and built a $2 trillion empire. Perplexity, with its conversational AI and growing user base, is positioned to dominate the AI-driven search market, which could be worth hundreds of billions. Selling now would cap its upside. Raising capital—say, another $500 million to $1 billion—would allow Perplexity to scale its infrastructure, hire top talent, and accelerate R&D. This path preserves its ability to dictate terms and capture the full value of its growth trajectory, rather than handing it to a tech giant for a fraction of future potential. 2. Strategic Partnerships Over Acquisition
Perplexity can emulate Google’s 2001 deal with Yahoo, where Google became Yahoo’s default search engine for a significant payment, gaining massive exposure without surrendering ownership. Perplexity could strike similar deals with Apple and other players like Yahoo (now under Apollo Global Management) or Samsung, which is already in talks for integration. For example:
- Apple: License Perplexity’s AI to enhance Siri’s conversational abilities or power a smarter Safari search, in exchange for a hefty licensing fee or revenue share. This gives Apple the AI boost it seeks without Perplexity losing its independence. - Yahoo: Partner to integrate Perplexity’s search capabilities into Yahoo’s platform, which still attracts millions of users. This could include exclusive features or co-branded AI tools, providing Perplexity with scale and revenue. Such deals would give Perplexity access to massive user bases, distribution channels, and cash flow, all while keeping its brand and technology intact. Google’s Yahoo partnership didn’t just bring revenue—it validated its technology and drove adoption, paving the way for its dominance. Perplexity could similarly use partnerships to accelerate growth and market penetration. 3. The AI Search Market Is Still Wide Open
The search market is ripe for disruption. Google’s dominance is under pressure from antitrust lawsuits and user dissatisfaction with ad-heavy results. Perplexity’s conversational, answer-focused AI search is gaining traction, with 250 million monthly active users and a model that prioritizes accuracy over ads. This is a rare opportunity to challenge incumbents, but acquisitions often derail disruptors. Look at DeepMind: acquired by Google, it became a cog in Alphabet’s machine rather than a standalone leader. Perplexity, by staying independent, can double down on product innovation—expanding into enterprise search, verticals like healthcare or finance, or even multimodal AI (text, image, video)—to capture a larger share of the $200 billion global search market. Raising capital would fund aggressive expansion: more servers to handle query volume, localized models for international markets, and marketing to steal share from Google and Bing. A partnership-driven approach, like Google’s with Yahoo, avoids the risks of acquisition while providing the scale needed to compete. 4. Leverage Competitive Interest for Better Terms
Apple and Meta’s interest signals Perplexity’s strength, but it also gives the startup leverage. By playing the two against each other, Perplexity could secure better partnership terms or higher valuations in funding rounds. Venture capitalists, seeing the bidding war, would likely pour money into Perplexity to keep it independent, betting on its potential to rival Google. For instance, a new funding round at a $20 billion valuation could provide the war chest needed to scale without ceding control. X posts have speculated that Perplexity’s talks with Samsung and others could be a strategic move to boost its valuation—staying independent maximizes this leverage. 5. Avoid Antitrust and Integration Risks
Both Apple and Meta face antitrust scrutiny. Apple’s $20 billion Google search deal is under fire in the DOJ’s antitrust case, and acquiring Perplexity could draw further regulatory heat, potentially delaying or derailing the deal. Meta’s acquisition attempts, like its failed bid for Perplexity, also face skepticism due to its history of swallowing competitors (e.g., Instagram, WhatsApp). An acquisition could trap Perplexity in legal limbo or force it to compromise its product to meet regulatory demands. Partnerships, on the other hand, are less likely to trigger antitrust concerns and allow Perplexity to maintain flexibility. Counterargument: Why Sell?
One could argue that selling to Apple or Meta offers immediate financial security, access to their vast resources, and integration into ecosystems with billions of users. Apple’s 2 billion active devices or Meta’s 3 billion monthly active users could supercharge Perplexity’s reach. But this assumes smooth integration, which is rare. Acquired startups often lose their edge—look at Siri post-acquisition or WhatsApp’s privacy controversies under Meta. The short-term gain of a $14 billion payout pales compared to the potential of building a $100 billion+ independent company in a market poised for transformation. Conclusion
Perplexity should raise capital, double down on expansion, and pursue strategic partnerships with Apple, Yahoo, Samsung, or others to gain scale and revenue without sacrificing control. Google’s Yahoo deal in 2001 shows how a young company can leverage partnerships to catapult growth while staying independent. With the AI search market heating up and Perplexity’s momentum surging, now is the time to bet on itself, not cash out.



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Tuesday, July 04, 2023

Threads



Threads: Instagram owner to launch Twitter rival on Thursday . Screengrabs show a dashboard that looks similar to Twitter. Meta describes Threads as a "text based conversation app"........ Meanwhile, Twitter has said that the popular user dashboard, TweetDeck will go behind a paywall in 30 days time........ It appears from Meta's Threads app that it will be a free service - and there will be no restrictions on how many posts a user can see. ........ It being a Meta app, Threads will also hoover up data on your phone, including location data, purchases and browsing history. ........ Several apps that bear a striking resemblance to Twitter have sprung up in recent years - such as Donald Trump's Truth Social and Mastodon. Another similar app, Bluesky claimed to have seen "record" traffic after Mr Musk's move to restrict usage at the weekend. ......... Threads could be the biggest threat faced by Twitter to date. Mark Zuckerberg has a history of borrowing other company's ideas - and making them work. ...... Meta's Reels is widely seen as a TikTok copy, while Stories looks similar to Snapchat. .

Meta’s ‘Twitter Killer’ App Is Coming Meta, which owns Facebook and Instagram, teased a new app called Threads that is set to take on Twitter for real-time digital conversations........ Mark Zuckerberg has long wanted to dislodge Twitter and provide the central place for public conversation online. Yet Twitter has remained stubbornly irreplaceable. ............ On Monday, his company, Meta, which owns Facebook, Instagram and WhatsApp, teased a new app aimed squarely at Twitter’s territory. .......... The app appears to function much like Twitter, emphasizing public conversations, with users able to follow people they already do on Instagram. Some techies have referred to the coming app as a “Twitter killer.” .......... Then over the weekend, Mr. Musk imposed limits on how many tweets its users would be able to read when using the app. He said the move was in response to other companies taking Twitter’s data in a process called “scraping.” Twitter’s users were soon met with messages that they had exceeded their “rate limit,” effectively making the app unusable after a short amount of time viewing posts. Many Twitter users became frustrated............ “If there’s ever been a more self-destructive owner of a multibillion-dollar enterprise who resents the very customers who determine the success of that enterprise, I am unaware of it,” Lou Paskalis, founder and chief executive of AJL Advisory, a marketing and advertising technology strategy firm, said of Mr. Musk and Twitter............ The latest turbulence at Twitter appears to have given Mr. Zuckerberg an opening for Threads. .......... Meta’s executives have discussed how to capitalize on the chaos at Twitter since last year, including by building a rival service. “Twitter is in crisis and Meta needs its mojo back,” one Meta employee wrote in an internal post last year, according to a report in December by The New York Times. “LET’S GO FOR THEIR BREAD AND BUTTER.”............. Meta remains the most credible competitor to Twitter, with deep pockets and an audience of more than three billion people who use Facebook, Instagram or its other apps. Other platforms trying to capitalize on Twitter’s weakness — such as Tumblr, Nostr, Spill, Mastodon and Bluesky — are all much smaller than Meta.......... In Twitter’s earliest days, Mr. Zuckerberg offered to purchase the company, but was rebuffed .

SCO summit: Putin says sanctions making Russia stronger The 2023 SCO summit is taking place virtually under India's leadership. ...... "Russia counters all these external sanctions, pressures and continues to develop as never before".......... He added that more than 80% of trade between Chinese and Russian people was in roubles and yuan, and urged other SCO members to follow the same process. .......... China, Russia and four Central Asian countries formed the SCO in 2001 as a countermeasure to limit the influence of the West in the region. India and Pakistan joined the group in 2017.



America’s Foes Are Joining Forces Iran is helping to manufacture drones for Russia. China operates a spy base in Cuba. ......... until the late 1940s, Ho Chi Minh, the Vietnamese nationalist leader, believed the United States “could be the champion of his cause” of independence from France. During World War II, Mr. Minh’s rebel army, the Viet Minh, worked alongside the Office of Strategic Services, the precursor of the C.I.A., in America’s fight against Japan. ......... But as Cold War tensions rose, the Truman administration disregarded its Asia experts — many of whom considered the Viet Minh a primarily nationalist rather than Communist movement — and backed French efforts to preserve its empire. By 1950, the Viet Minh were receiving arms from Communist China. ...... U.S. animosity, the Soviet leader Nikita Khrushchev observed, pushed Cuba toward the U.S.S.R. “like an iron filing to a magnet.”
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Wednesday, July 29, 2020

Top Tech CEOs Go To Washington



I believe the anti-trust angst is valid. The big tech companies do seem to be stifling competition with their sheer size. The Google argument that their competition is just one click away belies the fact that search is a hugely capital intensive effort. It is more expensive to build a search engine than it is to build a Boeing jet plane. That huge cost is a moat around the Google castle. The same is true for the other big tech companies. 

But the lack of competition is not true only in tech. Their size makes it obvious but the US economy has a major lack of competition problem in many sectors. 

I do think many next big companies are dying too early in the presence of these big tech companies. 

But anti-trust is the smaller of my concerns. 

Saudi Arabia had oil, but it was undiscovered and it was underground. Western companies swooped in to dig it out. Those companies did not and do not get to take all of the oil money. Data is the new oil. But individual consumers are not getting any pay. There ought to be a 70-30 split. The individual should get 70% and the company that harvests and monetizes the data should keep 30%, which would still be a lot. Especially since the oil wells are about to get huge. 

This has to be established as a right. Taking that political step will necessarily bring up legitimate issues of data privacy and security. And in favor of innovation, we could put a floor underneath the arrangement. Small companies would not have to pay. Only after you cross a certain size you pay up. 

This would have to be a global understanding. This means the tech companies have an obligation to together offer up the digital equivalent of a Social Security number and online bank accounts to all their users. They can. 

Something is amiss. The US Congress does not have jurisdiction over the planet. What we need is a global parliament. 

Makes me wonder, though, why is Microsoft missing? Does Congress feel like it already grilled Microsoft back in the days!? 

The UBI is infrastructure for the global knowledge economy and is in the best interests of these tech companies. They should bring it about. 

Apple, Microsoft, Amazon, Google And Facebook Make Up A Record ...
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Monday, September 16, 2019

Libra And The "Global" Financial System







Will Facebook’s Libra Change the Way the World Banks? The Templars were originally a Catholic military order that took up residence in Jerusalem, where they pledged to protect Christian pilgrims. They created the economic infrastructure for the Crusades, writing promissory notes in France or England that were redeemable in the Levant. A cipher based on the shape of the cross ostensibly guaranteed the notes’ security. In other words, the Templars created a variant on modern international transfer services, five hundred years before the first central bank......... Today, the demand mounts for a similar system, but on a global scale. Billions of people have no access to banks. Countless others endure high fees and slow transactions, especially when sending money across borders. What we consider a global financial system is, in reality, hardly global. Institutions such as the International Monetary Fund (IMF), the Bank of International Settlements, and the Financial Stability Board provide little more than a multilateral veneer over relationships that are primarily bilateral and dominated by commercial and central banks. Even within borders, moving money involves costly processes of settlement and exchange........... A blockchain-type network creates a public ledger, a universally trustworthy account of who owes what. Just as the Templar cipher verified an otherwise forgeable piece of paper, cryptography will ensure that Libra cannot be spent twice or otherwise duplicated. Such technologically guaranteed, artificial scarcity allows cryptocurrencies to operate as money........ Libra will be redeemable at a fixed price for certain established currencies (such as dollars, euros, and yen). Members of the association will deposit assets in the Libra Reserve as backing any time someone wants to buy more Libra. As a result, whereas Bitcoin fluctuates wildly in value, Libra should remain relatively stable. That stability makes Libra potentially useful not only as a store of value but as a medium of exchange. Users will, Facebook argues, be able to send money around the world as easily as they send messages and videos........ In addition to banking the unbanked, Libra could replace traditional intermediaries in cross-border transactions, such as remittances, which amount to more than $600 billion per year. Libra could also end up reducing the power of central banks in countries with weak currencies or strong capital controls, because it will allow people to move their money out of these countries more easily. ......... Facebook is already in the crosshairs of governments around the world, and the stakes are nothing less than the stability of the global economy....... Much of the current financial system is antiquated below the surface. ........ The country with the most to lose from Libra also has the most to gain from a revolution in the global financial system. That country is China. China bans Facebook and forbids trading in cryptocurrencies (such as Bitcoin) that could circumvent its capital controls. China is also home to the world’s biggest digital payments systems. WeChatPay and AliPay together process as many transactions in a day as the United States does in nine months. They operate only with China’s own currency, the renminbi, and they are centrally controlled, which makes payments easy for the government to access or limit. Facebook’s argument to regulators is that if an American company doesn’t move aggressively into blockchain-based payments, China will. The truth is that Facebook’s entry has accelerated China’s movement in this direction.........

No country is more interested than China in displacing American hegemony over global financial institutions. Cryptocurrency serves that objective.

........ There is also the IMF, whose director, Christine Lagarde, has already hinted at a possible “IMFcoin” based on the IMF-sponsored assets known as Special Drawing Rights......... Money transfer helped the order become one of the wealthiest institutions in medieval Europe—a sprawling financial empire and powerful creditor to kings. After the crusaders were pushed out of the Levant, however, the Templars languished. And then the order collapsed abruptly at the beginning of the fourteenth century.

The French King Philip IV, deeply in debt to the Templars, arrested and tortured many of its members on trumped-up charges of heresy. He eventually convinced the pope to ban the order, coincidentally canceling his debts.

The Templars’ power and wealth were their undoing. Facebook should take heed.




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Sunday, August 11, 2019

My Blog Posts About Facebook




The Unfacebook (on August 28, 2007)
Microsoft, Google, Facebook: NY Tech MeetUp Has Arrived (on November 07, 2007)
What Should Facebook Do (on March 05, 2009)
Twitter And The Time Dimension (on March 06, 2009)
I Talked To Google Through Twitter And It Worked Like Magic (on March 26, 2009)
The Search Results, The Links, The Inbox, The Stream (on March 30, 2009)
Peter Thiel: Primitive Mind In The Tech Sector (on April 28, 2009)
Define Social Media (on April 29, 2009)
Stand Up Comedy: Thinking On Your Feet: 2.0 (on May 03, 2009)
Facebook Faceoff Firefox (on May 10, 2009)
Facebook's Ad Space Is Different (on May 23, 2009)
Is Google Wave Social Enough To Challenge Facebook, Twitter? (on June 02, 2009)
Facebook And Mashable: Social Media And Social Media Blog (on June 09, 2009)
Facebook Landgrab: A Friday Midnight Call (on June 13, 2009)
Twitter Should Hand Over Search To Google (on August 22, 2009)
The FriendFeed, Facebook Merger (on August 26, 2009)
The Next Big Thing In Social Networking (on October 14, 2009)
Google, Bing And Social Media (on October 22, 2009)
Time, Facebook Connect, And Comments (on December 18, 2009)

Why Will Facebook Itself Not Do Facebook Enterprise? (on April 15, 2010)
Graphic Reality (on April 23, 2010)
Zuckerberg Has Stature (on June 06, 2010)
Facebook Doing Location Is Like Google Doing Social, Almost (on August 17, 2010)
The Web Lifestyle And Company Cultures (on August 17, 2010)
Dennis Crowley, Facebook, And The Location Ecosystem (on August 22, 2010)
I Was In Chicago? Facebook Places Messing Up (on August 22, 2010)
Apple Trying To "Get" Social Now? (on September 02, 2010)
The Facebook Search Engine (on September 06, 2010)
Links And Likes (on September 06, 2010)
StartUp Anxiety For FourSquare? (on September 08, 2010)
Zuck In New Yorker (on September 16, 2010)
Google's Social Efforts (on September 17, 2010)
Adoption And Missed Opportunities (on September 30, 2010)
The Social Network: Before Seeing The Movie (on October 01, 2010)
I Gave In: Facebook: The Movie (on October 01, 2010)
Paradise City (on October 02, 2010)
To Make Sense Of The Facebook Movie (on October 04, 2010)
Facebook Needs To Revamp Email Next (on October 06, 2010)
Facebook's Location Patent (on October 07, 2010)
A Sophisticated Like Button (on October 13, 2010)
David Kirkpatrick: "Zuck Is Not An Asshole" (on October 13, 2010)
Google Under Attack? (on October 15, 2010)
Eduardo Saverin: Roommate Does Not Mean Best Friend (on October 15, 2010)
A Facebook Browser? A Facebook Operating System? (on October 21, 2010)
Social Graph, Social Concentric Circles (on October 28, 2010)
Unique URL For Facebook Updates (on October 30, 2010)
Dropio Acquired (on November 01, 2010)
Facebook Alternative? Dave McClure Is Full Of It (on November 01, 2010)
Facebook's Aggression (on November 03, 2010)
Facebook And Twitter: The Only Two That Count (on November 05, 2010)
Brazil On Orkut (on November 09, 2010)
The Idea Of A Social Browser (on November 09, 2010)
If You Could Take Your Data Center With You (on November 11, 2010)
Facebook's Gmail Killer? Wow (on November 12, 2010)
Should FourSquare Be Scared Of Facebook? (on November 14, 2010)
Facebook's Gmail Killer Email: The Expectation Is In The Air (on November 15, 2010)
Does Path Stand A Chance? (on November 15, 2010)
Facebook Messaging: Awesome (on November 15, 2010)
Facebook Messaging Event: My Favorite Question (on November 15, 2010)
Google, GroupOn: Facebook Needs To Go Public (on November 30, 2010)
Zuckerberg On CBS (on December 06, 2010)
Congrats Zuck (on December 16, 2010)
Mark Suster: The Social Network: Facebook To Fragmentation (on December 05, 2010)

The Twins Were Rowing Boats (on January 01, 2011)
FoodSpotting's Social Graph: FoodSpotting Day: January 15 (on January 04, 2011)
Facebook Could Do Well In Search (on January 04, 2011)
I Am On Facebook Messages Now (on January 07, 2011)
Facebook Going After Disqus Now? (on February 01, 2011)
Facebook Going Into Blog Comments Is Huge (on February 02, 2011)
When Zuck's Facebook Account Got Hacked (on February 14, 2011)
The Google/Facebook Of Microfinance (on February 14, 2011)
Microsoft, Google, Facebook, Twitter, FourSquare, FoodSpotting: Sharks (on February 18, 2011)
Facebook Comments To Go: Facebook Nailed It (on March 01, 2011)
Twitter, Facebook, Tumblr, LinkedIn (on March 02, 2011)
Facebook Comments: First Impressions (on March 07, 2011)
Farmville's Got Competition (on March 07, 2011)
Facebook Location (on April 07, 2011)
9400 Workers In Six Years? Facebook Is Not Seeing Right (on April 27, 2011)
Facebook Getting Smarter With Social Ads (on April 27, 2011)
Facebook Valuation: Up And Up (on May 03, 2011)
Google's Social Search (on May 19, 2011)
Social Concentric Circles (on May 19, 2011)
Apple Going After Google's Cloud? Facebook Going After Apple With HTML5 (on June 16, 2011)
Path + Instagram + Color (on June 16, 2011)
Facebook's Next Major Breakthrough (on July 01, 2011)
Sheryl Sandberg: New Yorker Profile (on July 04, 2011)
The Facebook Skype Integration Is Huge (on July 06, 2011)
Facebook Videocalling: I Am On Now (on July 06, 2011)
Facebook Beats Google Plus On Design (on July 07, 2011)
Plus, Face (on July 15, 2011)
Finally Facebook Lets Me Reach Out To Non Friends (on September 14, 2011)
HTML5 And F8 (on September 19, 2011)
The Facebook Revamp Is Heartwarming (on September 24, 2011)
Sean Parker: Mystery Man (on September 30, 2011)
Sean Parker's 2009 Email To Spotify (on October 08, 2011)
Google Plus: What Went Wrong? (on October 18, 2011)
How To Recommit Facebook To The Power Users (on October 25, 2011)

Facebook And Big Data (on January 15, 2012)
So Facebook Went IPO (on February 02, 2012)
A Facebook Supported Online Parliament (on February 11, 2012)
Google Plus Is Google's Bing (on April 08, 2012)
Instagram: A Billion In Two Years (on April 09, 2012)
Now That Instagram Has Been Bought By Facebook (on April 10, 2012)
The Facebook IPO Fiasco (on June 27, 2012)
Facebook And Money (on July 11, 2012)
The Facebook Like Button: Not Working Right Now (on July 11, 2012)
Fred Wilson, Mark Zuckerberg And Mobile (on July 15, 2012)
Asana Just Like Facebook (on July 23, 2012)
The Facebook Phone (on July 25, 2012)
Facebook's Money Problem (on July 26, 2012)
No Facebook Phone (on July 27, 2012)
Facebook At $25: This Is Not A Glitch (on July 27, 2012)
The Commandos Behind Facebook's Growth (on July 30, 2012)
Facebook Eating Into Its Ecosystem (on July 31, 2012)
Facebook Doldrums (on August 02, 2012)
Facebook In 2022 (on August 05, 2012)
Facebook's Financial Woes Are Unnecessary (on August 13, 2012)
Facebook's Proposed Campus: Lots Of Open Space (on August 25, 2012)
Facebook's Search Option (on September 17, 2012)
Yahoo Facebook Search Alliance Would Be Interesting (on November 18, 2012)
Off Season April Fool Joke On Yahoo Facebook Search Deal (on November 19, 2012)
Facebook Search Can't Be Bing (on December 29, 2012)

Snapchat, Poke And Facebook (on January 01, 2013)
A Social Graph Can't Last 10 Years (on January 01, 2013)
Facebook's Graph Search: A Long Time Coming (on January 16, 2013)
Facebook Graph Search: The Alternative View (on January 23, 2013)
The Facebook Phone (on April 01, 2013)
A Case For A Facebook Phone (on April 04, 2013)
Snapchat (on December 14, 2013)
Facebook Drones: Super Exciting (on March 28, 2014)
Pinterest Dwarfing Facebook? (on October 18, 2014)

Facebook's Out On Free Internet Could Be A Mobile Browser (on January 08, 2016)
In Defence Of Facebook (on November 22, 2018)
Facebook's Blockchain Push: Libra (on June 19, 2019)


For more: http://technbiz.blogspot.com/search?q=facebook


Bits And Pieces (Of Me)

Being Called Sean Parker
http://technbiz.blogspot.com/2011/06/white-male-conspiracy-to-drive-me.html
http://technbiz.blogspot.com/2010/06/paul-graham-brad-feld-me-bbc.html
http://technbiz.blogspot.com/2010/09/netizen-has-arrived-link-from-avc.html (This blog post by Fred Wilson where he hyperlinked to my blog post was his most popular for the year)
http://technbiz.blogspot.com/2012/02/top-influencer-during-social-media-week.html
http://technbiz.blogspot.com/2011/06/robin-hood-my-german-nickname.html



CNN: Inside the partnership of Mark Zuckerberg and Sheryl Sandberg


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