3 ms·

The developing world doesn’t care about the reputation Facebook has on HN.

by kabwj 7y ago

JumpCrisscross 7y ago
> The developing world doesn’t care about the reputation Facebook has on HN The developed world does: "based on an analysis of SimilarWeb Android data, Jefferies analyst Brent Thill found daily average users for core Facebook have declined in the U.S., U.K., Germany and France over the last 12 months—although he notes sequential user growth across geographies in April and May. In the U.S., time spent on core Facebook and its photo-and-video-sharing platform Instagram also has declined over the last 12 months, with users spending sequentially less time on both apps most recently" [1]. Antagonism to Facebook not a niche issue. Autocracies won't cede power to Zuckerberg. Poor democracies have no incentive to sign up to a cartel without rich countries' wealth. Without at least some OECD support, the project is DOA. [1] https://www.wsj.com/articles/facebooks-pricey-ad-spend-may-not-impress-11561460400?mod=hp_major_pos18 https://www.wsj.com/articles/facebooks-pricey-ad-spend-may-n...
- kabwj 7y ago
  Libra is not for the developed world; I didn’t mention the developed world in my message. It remains to be seen what it will happen to it in the developing world, but the reputation of Facebook won’t be an obstacle.
  - Apocryphon 7y ago
    Internet.org has had a mixed record there.
- adventured 7y ago
  > Poor democracies have no incentive to sign up to a cartel without rich countries' wealth Of course they do. The cartel will easily bribe them - whichever politicians need incentivized - to leave the door open. They don't require much of an opening. Visa is now worth more than every US or global bank - such as JP Morgan, HSBC or Bank of America - and worth more than twice what the largest tech company in Europe (SAP) is worth. Mastercard is worth 70% more than SAP. These types of massive companies can trivially grease any and all wheels to embed themselves deeper into the global economy. What else do companies like Visa and Mastercard have to spend their extreme brand-bullshit margins on? If you're those guys, the only thing worth directing your flood of endless high margin profit at is to get locked deeper into the global economy. They can afford to purchase infinite lubrication for all practical purposes. Take Visa as an example. They have 50% net income margins - laughably extreme - because they have absolutely nothing else to do with their business other than collect the cash as it rolls in, and then look at ways to ensure their parasite position is perpetual and continues to expand.

The developing world doesn’t care about the reputation Facebook has on HN.

by kabwj 7y ago

The developing world doesn’t care about the reputation Facebook has on HN.

> The developing world doesn’t care about the reputation Facebook has on HN The developed world does: "based on an analysis of SimilarWeb Android data, Jefferies analyst Brent Thill found daily average users for core Facebook have declined in the U.S., U.K., Germany and France over the last 12 months—although he notes sequential user growth across geographies in April and May. In the U.S., time spent on core Facebook and its photo-and-video-sharing platform Instagram also has declined over the last 12 months, with users spending sequentially less time on both apps most recently" [1]. Antagonism to Facebook not a niche issue. Autocracies won't cede power to Zuckerberg. Poor democracies have no incentive to sign up to a cartel without rich countries' wealth. Without at least some OECD support, the project is DOA. [1] https://www.wsj.com/articles/facebooks-pricey-ad-spend-may-not-impress-11561460400?mod=hp_major_pos18 https://www.wsj.com/articles/facebooks-pricey-ad-spend-may-n...

kabwj 7y ago
Libra is not for the developed world; I didn’t mention the developed world in my message. It remains to be seen what it will happen to it in the developing world, but the reputation of Facebook won’t be an obstacle.
- Apocryphon 7y ago
  Internet.org has had a mixed record there.
adventured 7y ago
> Poor democracies have no incentive to sign up to a cartel without rich countries' wealth Of course they do. The cartel will easily bribe them - whichever politicians need incentivized - to leave the door open. They don't require much of an opening. Visa is now worth more than every US or global bank - such as JP Morgan, HSBC or Bank of America - and worth more than twice what the largest tech company in Europe (SAP) is worth. Mastercard is worth 70% more than SAP. These types of massive companies can trivially grease any and all wheels to embed themselves deeper into the global economy. What else do companies like Visa and Mastercard have to spend their extreme brand-bullshit margins on? If you're those guys, the only thing worth directing your flood of endless high margin profit at is to get locked deeper into the global economy. They can afford to purchase infinite lubrication for all practical purposes. Take Visa as an example. They have 50% net income margins - laughably extreme - because they have absolutely nothing else to do with their business other than collect the cash as it rolls in, and then look at ways to ensure their parasite position is perpetual and continues to expand.