26 Jul Why Libra is a game-changer for Facebook
To many, Facebook is just another social media site they log into to keep in touch with family and friends. It’s easy to navigate, pretty much everyone uses it, it’s free, and readily accessible across the globe. Many investors have assumed exactly the same thing. A nice little website to use, but is it really a company capable of generating the cash of an Apple or an Amazon?
It’s an easy one to underestimate. But make no mistake, the company is a formidable force with the power to be one of the few to take over the world. We were afforded a sneaky little glimpse into Facebook’s plans for total global domination just last month when the company released its Libra White Paper – a simple manifesto describing their plans to sink the big banks and cryptocurrencies – or as they put it, to “enable a simple global currency and financial infrastructure that empowers billions of people”.
It’s a grand plan to be sure. When first reading the headlines the paper created I was instantly sceptical. Who on earth is going to trust Facebook, the company who just last year was busted for selling our personal information to private companies for financial gain, to handle our hard-earned money for us?
But the headlines were misleading, as were many of the articles that didn’t bother to read the actual document. On further investigation, it was revealed that the plan is a smart one, and Facebook know exactly what the pitfalls are and how they’re going to get around them. But we’ll get to that later.
“They’re not doing it out of the goodness of their own hearts.”
Get the full article.
Disclaimer: Capital 19 Pty Ltd ABN 17 124 264 366 AFSL 441891 (‘Capital 19’) believes the information contained is reliable, however, no warranty is given as to its accuracy and persons relying on this information do so at their own risk. This communication is for general information only and was prepared for multiple distributions and does not take account of the specific investment objectives of individual recipients and it may not be appropriate in all circumstances. Persons relying on this information should do so considering their specific investment objectives and financial situations. Any person considering action based on this communication must seek individual advice relevant to their circumstances and investment objectives. Subject to any liability which cannot be excluded under the relevant laws. Any opinions or forecasts reflect the judgment and assumptions of Capital 19 and its representatives based on information at the date of publication and may later change without notice. Any projections contained in this presentation are estimates only and may not be realised in the future.
The investment manager certifies that all the views expressed in this document accurately reflect their views about the companies and securities referred to in this document and that their remuneration is not directly or indirectly related to the views. Capital 19, its directors, representatives, employees or related parties may have an interest in any of the companies and securities in this document and may earn revenue from the sale or purchase of any financial product referred to in this document or any advice. Past performance is not a reliable indicator of future performance. Unauthorised use, copying, distribution, replication, posting, transmitting, publication, display, or reproduction in whole or in part of the information contained in this document is prohibited without obtaining prior written permission from Capital 19.