Someday the knuckleheads that run the #crypto world will actually figure out how to not look like fools every time volume picks up. I was never seduced to party in that space. The whales are in control and you,lowly trader are at their mercy...no thanks. As far as $FB, everybody with a pulse knew of their plan for #Libra a year ago. #Bitcoin flew because of the Chinese's capital concerns amid a global currency issue. Confluence, in other words.
Libra logically should have trashed or maybe crashed the crypto world as it will have the scale to dominate with a STABLE currency protected by an independent group of accredited validators - FB being only one of them. They will be able to handle 1000 transactions a second as opposed to Bitcoin that can only handle 7. True you won't be able to trade Libra as an investment asset. But given the way Bitcoin behaves whenever it rallies, maybe that's a good thing.
You presume they didn't know about it til now. I don't agree, Everybody knew. They had to wait til Zuck made it public.They will kill #Libra. The govt doesn't want a currency in the private sector. It could be used for drug trafficking, money laundering, etc. and like you say, where $FB goes, $AAPL, $GOOG, $AMZN could follow. They'll try to squash it like a bug.
In my opinion, #Facebook has always played fast and loose with the law (or at least users' privacy) in order to generate more money. Will it be the end of #Facebook? Doubtful. It's become an indispensable communication tool for too many people. Companies too. $FB
"Facebook chose to turn a blind eye... Now we know that one they knew the truth, top executives did everything they could to hide it from the public..." While I don't disagree, is this now fact? Where is the smoking gun? Did I miss this in the news? $FB
While I believe $FB is overvalued, you answered your own question when you wrote:
"Will another platform make inroads into Facebook’s business, or does it benefit from a kind of network effect whereby enough people are already on Facebook that others have to join to be involved in social media?"
Facebook it too big to worry about competition from a new competitor. A social site only works because everyone you know is already on it. The only real contender would have been Google which already tried and failed with Google Plus. If they couldn't make even a dent in Facebook, why would any other company be able to.
I'm still surprised $FB had no real damage from their privacy violations. But I suppose we have so little privacy anymore, people don't expect much. That and where else will they go?
Shelly Palmer is completely right. All this new #GDPR law does is quash innovation and hurt startups. As Shelly said, the big companies like Google ($GOOGL) and Facebook ($FB) already have all the private data they need.
At Our Doorstep
Someday the knuckleheads that run the #crypto world will actually figure out how to not look like fools every time volume picks up. I was never seduced to party in that space. The whales are in control and you,lowly trader are at their mercy...no thanks. As far as $FB, everybody with a pulse knew of their plan for #Libra a year ago. #Bitcoin flew because of the Chinese's capital concerns amid a global currency issue. Confluence, in other words.
Libra logically should have trashed or maybe crashed the crypto world as it will have the scale to dominate with a STABLE currency protected by an independent group of accredited validators - FB being only one of them. They will be able to handle 1000 transactions a second as opposed to Bitcoin that can only handle 7. True you won't be able to trade Libra as an investment asset. But given the way Bitcoin behaves whenever it rallies, maybe that's a good thing.
The Category 5 Freak-Out Over Libra, Facebook’s Digital Currency
You presume they didn't know about it til now. I don't agree, Everybody knew. They had to wait til Zuck made it public.They will kill #Libra. The govt doesn't want a currency in the private sector. It could be used for drug trafficking, money laundering, etc. and like you say, where $FB goes, $AAPL, $GOOG, $AMZN could follow. They'll try to squash it like a bug.
Report: Facebook Under Criminal Investigation
In my opinion, #Facebook has always played fast and loose with the law (or at least users' privacy) in order to generate more money. Will it be the end of #Facebook? Doubtful. It's become an indispensable communication tool for too many people. Companies too. $FB
It Just Gets Worse For Facebook
#Facebook is a mess. $FB
It Just Gets Worse For Facebook
"Facebook chose to turn a blind eye... Now we know that one they knew the truth, top executives did everything they could to hide it from the public..." While I don't disagree, is this now fact? Where is the smoking gun? Did I miss this in the news? $FB
Facebook, Zuckerberg Sued By "Shocked" Shareholders
Of course Moon, but the average shareholder will likely be spooked causing further drops for $FB.
Is Facebook Worth Its Current Price?
While I believe $FB is overvalued, you answered your own question when you wrote:
"Will another platform make inroads into Facebook’s business, or does it benefit from a kind of network effect whereby enough people are already on Facebook that others have to join to be involved in social media?"
Facebook it too big to worry about competition from a new competitor. A social site only works because everyone you know is already on it. The only real contender would have been Google which already tried and failed with Google Plus. If they couldn't make even a dent in Facebook, why would any other company be able to.
FANG Stocks Alive And Well And New Highs
I'm still surprised $FB had no real damage from their privacy violations. But I suppose we have so little privacy anymore, people don't expect much. That and where else will they go?
Are You GDPR Compliant?
Shelly Palmer is completely right. All this new #GDPR law does is quash innovation and hurt startups. As Shelly said, the big companies like Google ($GOOGL) and Facebook ($FB) already have all the private data they need.
"The Bubble Is About To Burst": BofA's 10 Reasons To Sell Tech Stocks
Give me a break, how’s $GOOG and $FB a bubble with their PE and PEG? BoA should worry about the flattening yield curve.