Mark Zuckerberg has another response to Bitcoin’s success
4 years ago

Mark Zuckerberg has another response to Bitcoin’s success

Live Mint  

Last year’s backlash against Facebook Inc.’s planned digital currency Libra would have been most chief executive officers’ worst nightmare. Given Zuckerberg’s tendency to issue half-hearted apologies before going back to breaking things, it’s not surprising that he’s gearing up for a second attempt to launch Libra next year. Facebook is even proposing that central banks one day use the Diem blockchain to issue digital currencies, similar to China’s testing of a digital yuan. As German finance minister Olaf Scholz put it, referring to Libra’s name change, “a wolf in sheep’s clothing is still a wolf.” The noose is already tightening around such stablecoins with Europe imposing more bank-like capital requirements, says Simon Polrot, head of crypto-development non-profit ADAN.

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History of this topic

Zuckerberg: King of the Metaverse, review: how Facebook changed (then ruined) the world
11 months, 2 weeks ago

Zuckerberg: King of the Metaverse, review: how Facebook changed (then ruined) the world

The Telegraph  

Remember when Facebook seemed harmless? In Zuckerberg: King of the Metaverse, one former executive put it this way: “When I first joined, movies were being made; the founder was on the cover of Time magazine; you’re overthrowing dictators. Now, you’re being told you destroyed democracy.” The film traced Facebook from Zuckerberg’s invention to world domination and scandals involving data harvesting, …

Facebook’s cryptocurrency venture to wind down and sell tech assets
2 years, 10 months ago

Facebook’s cryptocurrency venture to wind down and sell tech assets

The Hindu  

Meta Platforms Inc's digital currency venture Diem Association is winding down and selling its technology to California-based Silvergate Capital Corp for about $200 million, the Wall Street Journalreported on Wednesday, citing a person familiar with the matter. Meta, formerly Facebook Inc, first unveiled plans for Diem, known as Libra earlier, in June 2019, as part of an effort to expand …

Mark Zuckerberg's 'metaverse' faces regulation, warns digital minister
3 years ago

Mark Zuckerberg's 'metaverse' faces regulation, warns digital minister

The Telegraph  

Britain will seek to regulate the rise of the metaverse popularised by Mark Zuckerberg’s Facebook under its flagship Online Safety Bill, the UK’s digital minister has confirmed. Chris Philp, the UK’s digital minister, said metaverse companies would fall under its plans to tackle online harms and bring regulation to Big Tech firms. He said: “One of the reasons we need …

Meta and the Facebook Papers: Why Mark Zuckerberg has nothing to fear
3 years, 1 month ago

Meta and the Facebook Papers: Why Mark Zuckerberg has nothing to fear

Salon  

With great fanfare on Thursday, Facebook CEO Mark Zuckerberg announced his company's much-anticipated name change. A former Facebook employee named Frances Haugen has been releasing a steady stream of leaked documents showing that Facebook knew its social media networks were being used to spread misinformation, stoke often genocidal levels of conflict, and undermine people's mental health — but did little …

Former Zuckerberg advisor: Facebook’s problem is its business model
3 years, 1 month ago

Former Zuckerberg advisor: Facebook’s problem is its business model

CNN  

Editor’s Note: This interview has been editing for length and clarity. New York CNN Business — Calls for increased regulation of Facebook continue to grow louder after leaked internal documents became public and whistleblower Frances Haugen’s testimony showed that the social media platform has repeatedly failed to rein hate speech and misinformation. On Friday, a consortium of 17 US news …

Mark Zuckerberg has another answer to bitcoin. It is called Diem
4 years ago

Mark Zuckerberg has another answer to bitcoin. It is called Diem

Live Mint  

Last year’s backlash against Facebook Inc.’s planned digital currency Libra would have been most CEOs’ worst nightmare. There’s no more talk of rewards for members in the form of “investment tokens.” The biggest concession to regulators is that Facebook will no longer create a single global currency. Facebook is even proposing that central banks one day use the Diem blockchain …

US trade commission and over 40 states accuse Facebook of illegally crushing competition
4 years ago

US trade commission and over 40 states accuse Facebook of illegally crushing competition

Firstpost  

While Facebook said the regulators had ignored important history, the lawsuits set off a chorus of bipartisan support on Capitol Hill Washington: The Federal Trade Commission and more than 40 states accused Facebook on Wednesday of buying up its rivals to illegally squash competition, and they called for the deals to be unwound, escalating regulators’ battle against the biggest tech …

Mark Zuckerberg defends Facebook: ‘Companies aren’t bad just because they’re big’
4 years, 4 months ago

Mark Zuckerberg defends Facebook: ‘Companies aren’t bad just because they’re big’

The Telegraph  

Facebook's chief executive Mark Zuckerberg will come out swinging against accusations of anti-competitive behaviour on Wednesday, telling US politicians that "companies aren't bad just because they are big". In prepared testimony, the 36-year-old founder will argue Facebook, whose total audience is bigger than Christianity and double the population of China, could still "cease to exist" if it does not "compete …

Zuckerberg's Performance in Senate Testimony: Takeaways and Implications
6 years, 8 months ago

Zuckerberg's Performance in Senate Testimony: Takeaways and Implications

Live Mint  

Mark Zuckerberg's testimony before the Senate Judiciary and Commerce committees was marked by both challenges and moments of clarity. While he faced tough questions about Facebook's privacy policy, data collection practices, and the potential for misuse of its platform, he managed to defend his company's position and assure lawmakers that he is taking steps to address the issues raised. However, …

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