Be careful: Facebook's best weapon in these situations (as has been done wrt "we don't sell your data") is for people to create arguments in the zeitguest that

Be careful: Facebook's best weapon in these situations (as has been done wrt "we don't sell your data") is for people to create arguments in the zeitguest that are easily debunked. They are relying upon off-the-cuff hot takes to emerge which they can shoot down effectively so by the time a real analysis of what they're doing can result in a cogent, irrefutable argument, the skeptics have already been "debunked" and they can move forward. The absolute worst thing you can do when Facebook announces initiative X is, that afternoon, write a one-sided think piece based upon surface-level understanding and emotional appeal that does not methodically include counter-arguments pre-emptively to their inevitable response. With regards to Libra, this article fails completely to address the governance structure and the other fail safes involved to prevent the outcome the author mentioned. This does not mean that insolvency is not an issue, but it does mean that this kind of analysis will be weaponized by Facebook to deflect from more serious analysis that will be forthcoming after experts digest the whitepaper, plan, etc.