Because banks are insured by the government per FDIC, companies aren't. That's just one example I know of off the top of my head and probably hundreds more I do

Because banks are insured by the government per FDIC, companies aren't. That's just one example I know of off the top of my head and probably hundreds more I don't know. Facebook is not just any company either. It holds world wide dominance in marketing, advertising, and communication. It is also accessible through a wide age range. If Libra becomes the only way to interact with Facebook, what do we do about children on Facebook who are often, in the eyes of the law, not able to handle financial responsibility? Due to the current problem with loot boxes and in game gambling in video games, I can see this becoming a problem. Libra apparently isn't pegged to a specific currency but fluctuating assets that are claimed stable. So if you put 10 fiat currency into Libra, you're not guaranteed to receive or get 10 out (even if we account for a transaction fee) which would normally happen when interacting with a bank and its services. One poor investment by some random company, and your Libra tanks.