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Am I wrong in being suspicious this is a plan for economic colonialism by Facebook? Can they use the custody assets as capital for lending? Like if they have (
by mattdeboard 8y ago
Am I wrong in being suspicious this is a plan for economic colonialism by Facebook? Can they use the custody assets as capital for lending?
Like if they have (e.g.) $100mil to back Zuckcoin, would it make any sense (or even be legal in the US) for them to start using this to start issuing, for example, microloans to rural farmers in India? I hope not but I'm interested in the answer.
- dvtrn 8y agoAm I wrong in being suspicious this is a plan for economic colonialism by Facebook Personally, my brain went in the direction of "is Facebook taking the Google approach to developing products?" i.e. they have a huge engineering team that needs to work on something, so you end up with a lot of products coming out of their dev organization, thrown at a wall, some stick and become popular in their own right (Messenger), some don't and die, and some are extensions of acquisitions (instagram). Pure speculation and supposition, but that's the sensation I get, specifically reading this headline. shrug
- akhilcacharya 8y ago“Engineer driven product development”?
- dvtrn 8y agoYeah something like that. I'm sure lots of teams do it, seems like a worthy practice to help build a culture of continuous learning when you're at the scale that you can just build "extracurricular"[1] features on your platform, provided you have product managers who can balance that with meeting core product objectives. [1] there may be a better phrase for this which eludes me right now