Re:Facebook, Libra, and the Long Game
by epiphanitus on Wednesday June 26, 2019 @07:30AM
(#20283903)
I'm speculating here, but I think this isn't about challenging the monetary oligopoly as much as it is about Amazon.
FB isn't funding this project because it's a libertarian thought experiment. FB is funding it because it makes business sense.
FB's business model is using data to sell ads. Amazon.com's dominance in ecommerce- and it's entry into the ad market - puts pressure on FB's business if advertisers move their buys to Amazon.com. But I imagine if FB is able to directy connect social interactions to purchasing decisions, that's something that retailers that compete with Amazon are going to be interested in.
FB isn't funding this project because it's a libertarian thought experiment. FB is funding it because it makes business sense.
FB's business model is using data to sell ads. Amazon.com's dominance in ecommerce- and it's entry into the ad market - puts pressure on FB's business if advertisers move their buys to Amazon.com. But I imagine if FB is able to directy connect social interactions to purchasing decisions, that's something that retailers that compete with Amazon are going to be interested in.