Today, the US Senate grilled Facebook’s Chief Libracan about all things Libra.
David Marcus is actually the head of Facebook’s crypto wallet subsidiary, Calibra. He was offered up as a human sacrifice to the US Senate Banking Committee to lay out the Libra project.
Reports are he was able to walk out on his power.
Marcus had the polished demeanor of a patient who had a regular, weekly colonoscopy or a barbed wire enema just to keep his game sharp. At times, I detected a bit of the third-grade-geometry-teacher-helping-one-of-the-slow-kids tone in his voice. Guy was masterful at giving non-answer answers.
In general, the hearings started out as a hate fest with various Senators laying out the case against Facebook as a lazy protector of privacy whose motto is “Move Fast, Break Things.”
The fact that Facebook had just agreed to a $5,000,000,000 fine to the Federal Trade Commission (3-2 vote with the Republicans on the FTC controlling the outcome) for privacy mischief probably contributed to the generally angry-high-school-wrestling-coach reception of guys like Sherrod Brown, Democrat of Ohio.
“Like a toddler who has gotten his hands on a book of matches, Facebook has burned down the house over and over and called every arson a learning experience.”