How Libra Cryptocurrency & Blockchain Network Will Work (video)

Libra: how it's going to work

FT.com's global tech correspondent Tim Bradshaw explains the new cryptocurrency announced by Facebook: "Libra, a new global currency powered by blockchain technology."

Facebook investor on Libra cryptocurrency

Scott Kupor of Silicon Valley VC firm Andreessen Horowitz (a16z.com) joins CNBC's "Closing Bell" to discuss Facebook's new cryptocurrency, June 19, 2019.

"... we are joining the Libra Association as a Founding Member. The Libra Association is a membership organization behind Libra, a new global currency and financial infrastructure built on blockchain technology.  Libra brings together a world-class group of partners, including:

• Technology companies that know how to create global-scale networks and infrastructure, like Stripe and Facebook.

• Financial services companies, like PayPal and Visa, that have deep experience in global payments.

• Platforms, including Spotify, Lyft, and Uber, who know how to build user-friendly and popular applications with millions of users.

• Crypto-first companies, like Coinbase and Anchorage, that have deep subject matter expertise.

• NGOs, like Kiva, Mercy Corps and Women’s World Banking, that understand the needs and habits of a wide variety of populations across the globe.

"These organizations can help Libra reach a critical mass of users, businesses and developers, with the goal of mainstreaming crypto adoption ..."--a16z.com

Domain: libra.org (more info on Libra at the link), and Libra white paper.

See also Fed Chair LIVE Jun 19, ECB Draghi Chaos, Facebook $FB Calibra

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Fed Chair LIVE Jun 19, 2:30pm EDT, ECB Draghi Chaos, $FB Calibra

FOMC Press Conference June 19, 2019:

Federal Reserve Press Release 19 Jun 2019 (pdf): "Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee [FOMC] decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent."

Below are press conference exhibits: 1. unemployment rate; 2. change in real GDP.

Effective Federal Funds Rate July 1, 1954 - May 1, 2019 -- May 2019: 2.39

Federal Open Market Committee (FOMC) meeting Jun 18-19, with  Fed Chair Jerome Powell news conference set for Wednesday, June 19 at 2:30 p.m. EDT. S&P expects the Fed to signal at its June policy meeting that it intends to begin cutting rates. Federal funds futures trading had been pricing in two rate cuts before the end of the year, but only a 23% probability of a cut at this June meeting. Donald Trump and Larry Summers agree that rates are too high, inflation too low, yet the Fed is still facing the results of keeping interest rates too low for too long (Ben Bernanke and Janet Yellen's QE and ZIRP) the effects of which continue throughout the economy. Background: see previous FOMC press conferences (video) and federalreserve.gov and @federalreserve.

On top of that the European Central Bank (ECB) President Mario Draghi "unleashed global chaos with his preview of more stilmulus, prompting an angry response from President Trump"--more here and here and here: How The "Draghi Shock" Unleashed Chaos On Powell's Most Important Day | zerohedge.com.

Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the Dollar, making it unfairly easier for them to compete against the USA. They have been getting away with this for years, along with China and others.

— Donald J. Trump (@realDonaldTrump) June 18, 2019

Transcript of ECB President Mario Draghi, Jun 18, 2019 (pdf), video below: "... in the absence of improvement such that the (31:26) sustained return of inflation to our aim is threatened, additional stimulus will be required."

Above video published June 18, 2019 by the ECB: Introductory speech Mario Draghi, President, European Central Bank, ECB Forum on Central Banking 2019--20 Years of European Economic and Monetary Union--Sintra, Portugal, 17-19 June 2019. The European banking system lags far behind its global peers in terms of profitability and valuation (Almost Daily Grant’s, May 28). Bloomberg reports Deutsche Bank A.G. (whose shares have fallen 84% in the last nine years to less than 21% of its year-end 2018 book value) is set for another round of layoffs.

Meanwhile, Facebook just announced it will disrupt the global central banking system using a "New Digital Wallet [Calibra, domain: calibra.com] for a New Digital Currency [Libra, domain: libra.org,]" based on blockchain technology:

Today we’re sharing plans for Calibra, a newly formed Facebook [NASDAQ: FB] subsidiary whose goal is to provide financial services that will let people access and participate in the Libra network. The first product Calibra will introduce is a digital wallet for Libra, a new global currency powered by blockchain technology. The wallet will be available in Messenger, WhatsApp and as a standalone app — and we expect to launch in 2020 ....

For many people around the world, even basic financial services are still out of reach: almost half of the adults in the world don’t have an active bank account and those numbers are worse in developing countries and even worse for women. The cost of that exclusion is high — approximately 70% of small businesses in developing countries lack access to credit and $25 billion is lost by migrants every year through remittance fees. This is the challenge we’re hoping to address with Calibra, a new digital wallet that you’ll be able to use to save, send and spend Libra. From the beginning, Calibra will let you send Libra to almost anyone with a smartphone, as easily and instantly as you might send a text message and at low to no cost.

See also How Libra Cryptocurrency & Blockchain Network Will Work (video) and

• Facebook Token Runs Into Instant Political Opposition in Europe-- French finance chief says it can’t be a ‘sovereign currency’-- Germany’s Ferber sees Facebook becoming a shadow bank | bloomberg.com.

• What Facebook's Cryptocurrency Means: 6 Predictions

• Federal Reserve | YouTube.com

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Tech Review | Tech Fade? Apple, Google, Facebook, Amazon

Tech Review (TR 2019-06-08)--Domain Mondo's weekly review of tech investing news: Features • 1) Tech Fade? Apple,Google, Facebook, Amazon, 2) Antitrust & $AAPL, $GOOGL, $FB, $AMZN, 3) Investing: The Week & Investor Notes,  4)ICYMI Tech News: Huawei, Amazon, PlanetScale, #FoodDelivery, and more.

1) Tech Fade? Apple, Google, Facebook, Amazon

Tech Fade: "We just don’t get as excited about tech as we used to"--enthusiasm about startups and embracing new things has been replaced by cynicism.

WWDC19 Keynote June 3, 2019, at 10 a.m. PDT Streamed LIVE:

source: statista.com

Did The Tech Bubble Just Pop: Investors Balk At SoftBank's Attempt To Raise $100 Billion: "Something is not quite right with SoftBank."

2) Antitrust & $AAPL, $GOOGL, $FB, $AMZN

CNBC Television video above published Jun 5, 2019: discussion on antitrust and U.S. tech companies with CNBC's Josh Lipton and Joe Kernen, and the Fast Money traders, Pete Najarian, Tim Seymour, Karen Finerman and Guy Adami, and Antitrust Lawyer Gary Reback, Carr & Ferrell, on the government's antitrust case against Google.

• Google, Amazon, Facebook and Apple, worth nearly $3 trillion combined, reportedly under federal investigation.
• Google Should Be Afraid. Very Afraid--a new round of antitrust questions can’t go well for the company. The culture has turned against tech since Google skated free in 2013--bloomberg.com.
• Google has few political allies and a history of complaints, so an antitrust case may move quickly, say experts.
• FTC and DOJ agree on antitrust oversight of Google and Amazon, putting Amazon under FTC and Google under DOJ.
• The House Judiciary Committee is launching a bipartisan investigation into whether large tech companies such as Facebook, Google and Amazon are using their vast market power to suppress competition.
• A possible Apple probe is reportedly linked to the Google probe, and stems from meetings between the DOJ and the FTC.

3) Investing

The Week: NASDAQ Composite +3.9%| S&P 500 Index +4.4% | DJIA +4.7%  

U.S. markets' best week of the year--Trump was right about the Fed.

Despite investor concerns about #tradewars causing a slowdown in the economy, the Fed’s latest #BeigeBook yesterday showed it has yet to dent growth materially. Fed Funds Futures still don’t care… odds here continue to forecast three rate cuts by the end of this year. $SPY $IVV

— DataTrek Research (@DataTrekMB) June 6, 2019

Investor Notes: in the U.S. Q1 turned out much better than what many pundits predicted:

76% of $SPX companies have beaten EPS estimates for Q1 to date, above the 5-year average of 72%. https://t.co/wb9IWRDULj #earnings pic.twitter.com/jn1EOyyMaT

— FactSet (@FactSet) June 1, 2019

and Despite Tariff Concerns, Analysts Making Smaller Cuts Than Average To EPS Estimates For Q2 | FactSet.com. Also: History Points To A Recovery in US Stocks--DatatrekResearch.com May 31, 2019--"data shows upside ahead despite a rocky May."

EU: The eurozone economy is stumbling and risks to financial stability are rising, says the European Central Bank (ECB). Italy Is Threatening to Repeat the Greek Debt Crisis—But With Higher Stakes | Fortune.com. Italy's GDP per capita remains stagnant at the same level as 18 years ago--Is The Sinking Italian Economy Just The Tip Of The Iceberg?--SeekingAlpha.com.

China: Chinese Bank With $105 BN In Assets On Verge Of Collapse. China’s stock market hit by the biggest outflow of foreign capital on record in April and May as trade war with the US and worry about the stability of the RMB weighed on investors, reported the Financial Times. China services PMI Plunges As Output Expectations Hit 7 Year Lows--zerohedge.com. Also: Pentagon report slams China for “eroding the values and principles of the rules-based order”--bloomberg.com.

4) ICYMI Tech News:

Huawei is selling off its undersea telecom cable business, its first major asset sale since the U.S. Government's accusations against the company. Facebook suspends app pre-installs on Huawei phones.

Amazon says 10 million items are now available for one-day shipping; while Walmart's recently launched 'next-day shipping' has only about 200,000 items available.

Amazon said it would open pop-up shops in the UK to give more than 100 small online businesses an opportunity to sell on the 'high street' for the first time. “Clicks and Mortar” stores will sell homeware, health and beauty, food and drink, and electronics.

Food-Delivery Rivals DoorDash, Grubhub, Uber Eats and Postmates Risk Capital Destruction--a problem in the 'valuations.'

Boeing 737 Max: fatal flaws can be traced to a breakdown late in the plane’s development, when test pilots, engineers and regulators were left in the dark about a change that would ultimately play a role in two crashes--NYTimes.com.

IBM: 5% Yield And Nearing Dividend Aristocrat Status?

Google To Buy Data Analytics Startup Looker for $2.6B.

Personal tech: FCC votes unanimously (pdf) to let carriers block robocalls by default and advances proposed rule for carriers to adopt SHAKEN/STIR caller ID system.

-- John Poole, Editor, Domain Mondo  

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Regulating Big Tech: Facebook, Amazon, Apple, Google (video)

Regulating Big Tech

Calls to curb the power of big technology companies like Facebook $FB, Amazon $AMZN, Apple $AAPL, and Google $GOOG, $GOOGL, and protect personal data are growing louder. The FT explains some issues it thinks are reshaping the companies that dominate our daily lives. Financial Times (ft.com) video above published May 7, 2019.

Issues highlighted in the video: harmful content, election integrity, privacy, transparency, taxation, lack of competition (antitrust). 

Europe has made big strides in regulating big tech companies. Margrethe Vestager (@vestager), the EU's top law enforcer of competition law, talks with @MarcoWerman about how privacy and anti-trust regulation works in Europe. https://t.co/5Lj8ciBtDd pic.twitter.com/iaaJMtk5w1

— PRI's The World (@pritheworld) March 28, 2019

Key player: Margrethe Vestager, "European Commissioner for Competition. Part of Team Europe."

Great to be in Washington. Looking forward to the @abaantitrust #atspring Enforcers Roundtable tomorrow @makandelrahim @JoeSimonsFTC Alejandra @cofecemx Rodney @acccgovau Sarah Oxenham Allen pic.twitter.com/LG2RwjFVhI

— Margrethe Vestager (@vestager) March 28, 2019

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Facebook $FB Q1 2019 Earnings LIVE Webcast April 24, 5:00pm EDT

UPDATE 24 Apr 2019: Listen to Webcast; Earnings Release (pdf) excerpt below; Slides (pdf).

"... we estimate that more than 2.1 billion people now use Facebook, Instagram, WhatsApp, or Messenger (our "Family" of services) every day on average, and around 2.7 billion people use at least one of our Family of services each month. In the first quarter of 2019, we reasonably estimated a probable loss and recorded an accrual of $3.0 billion in connection with the inquiry of the FTC into our platform and user data practices, which accrual is included in accrued expenses and other current liabilities on our condensed consolidated balance sheet. We estimate that the range of loss in this matter is $3.0 billion to $5.0 billion. The matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome ..."

Editor's note: $FB shares are UP in afterhours trading 24 Apr 2019.

Facebook, Inc. (NASDAQ: FB) release of first quarter 2019 financial results after market close on Wednesday, April 24, 2019. Facebook will host a conference call to discuss its results at 2 p.m. PDT / 5 p.m. EDT the same day. The LIVE webcast of the call can be accessed at the Facebook Investor Relations website at investor.fb.com, along with the company's earnings press release, financial tables, and slide presentation.

Following the call, a replay will be available at the same website. A telephonic replay will be available for one week following the conference call at 404.537.3406 or 855.859.2056, Conference ID: 9195605. Transcripts of conference calls with publishing equity research analysts held on April 24, 2019 will also be posted to the investor.fb.com website.

$FB

Facebook's brands include:

Left to right above:

• facebook.com
• whatsapp.com
• messenger.com
• instagram.com
• oculus.com

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DLD Munich 19 'Nineteen' with Scott Galloway (video)

DLD Munich 19 'Nineteen' with Scott Galloway

Scott Galloway on the future of Amazon $AMZN, Apple $AAPL, Facebook $FB, Google $GOOGL $GOOG, and how his predictions for 2018 sized up against the changing tides of the tech world today. Video published Jan 2, 2019. Galloway's blog:  profgalloway.com.
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Tech Review | Crypto & Blockchain Investing: 'Don't Buy Bitcoin, Do This'

Tech Review (TR 2019-04-06)--Domain Mondo's weekly review of tech investing news: Features • 1) Crypto & Blockchain Investing: 'Don't Buy Bitcoin, Do This', 2)How Instagram And Facebook Make Money, 3) Investing: The Week & Investor Notes, 4) ICYMI Tech News: Amazon, Apple, Google, and more.

1) Crypto & Blockchain Investing: 'Don't Buy Bitcoin, Do This'

"Don't Buy Bitcoin. Do This Instead"--Peter Mallouk. "It's not a real investment," says certified financial planner Peter Mallouk. "It's speculation." CNBC.com video above published Apr 4, 2019.

2) How Instagram and Facebook Make Money

Everyday more than 2 billion people use Facebook, Instagram, WhatsApp or Messenger, more than a quarter of the world's population. Despite a rising number of privacy scandals and public backlash — Facebook is still growing. Since its apps are free to use, Facebook sells advertising to make money. Here's how the company's advertising model works. CNBC.com video published Apr 2, 2019.

3) Investing

The Week: NASDAQ Composite +2.7% | S&P 500 Index +2.1% | DJIA +1.5%

The S&P 500 Index Now Up 15.4% YTD (as of 5 Apr 2019)

Investor Notes: U.S. Jobless Claims Fall to 49-Year Low, Below All Forecasts.

But "Synchronized Global Growth Has Collapsed"--Why Deutsche Just Downgraded Caterpillar.

EU: German Manufacturing Collapse: "Awful" Industrial Orders Plunge Most Since Financial Crisis.

Why Global Bond Market Investors Are Nervous: The European Central Bank has little margin to lower rates further, after the infusion of 2.6 trillion euros ($2.9 trillion) into the euro-zone economy through its bond-buying program, driving yields in Germany and the other most credit-worthy members below zero, in what some call a Japanification of the fixed-income market. Also: speculating against “the most distorted asset class in the world” caused Hugh Hendry to close his Eclectica hedge fund in September 2017, after the German two-year note confounded his expectations. Since then, that short-dated yield has averaged minus 0.6 percent, about where it was when Hendry decided to shut up shop, and near where it rests today.

Brexit: The value of the customs union to the UK is overrated--The customs union works well for German carmakers and French farmers, who have had a captive market for their products, but has not delivered anything like that for the UK.--theguardian.com.

US 'Tax Avoidance' Schemes: Wall Street’s “Dirty Little Secret” the ETF Tax Dodge--Banks pumping billions of dollars into and out of funds with “heartbeat” trades.--bloomberg.com.

4) ICYMI Tech News:

Amazon at Scale: the Enormous Numbers Behind Amazon’s Market Reach. $AMZN Post-Marital Bliss: Jeff Bezos's ex-wife, MacKenzie Bezos, tweeted details of their divorce settlement that gives Jeff 75% of their Amazon stock and all of their shares' voting power (at least for now, further details not provided).

Apple: services group could add an additional $25 billion in gross profit by 2023. Also Apple pulls plug on its wireless charging mat.

Google made $6.5 billion from sources other than ads in Q4 2018, an increase of 30% year-over-year, while Google's ad business is growing at 20% year-over-year. New revenue sources include Google Cloud, hardware, and Google's Play store--seekingalpha.com.

MIT is the latest top U.S. education institution to cuts ties with Chinese tech firms Huawei and ZTE, while UK's Oxford University has also stopped accepting funding from Huawei..

WeWork's $1.9 Billion Loss Is A Typical Tech Bubble 2.0 Story--zerohedge.com.

Germany's Daimler has filed a complaint with EU antitrust regulators about Nokia patents essential to car communications.

Personal Tech: 

1. Why Can't I Get a Decent Stock Android Smartphone With No Apps Pre-Installed?

"Android ecosystem of pre-installed apps is a privacy and security mess"--extensive academic study finds data-harvesting and malware-laced pre-installed apps.--zdnet.com and An Analysis of Pre-installed Android Software (pdf). 

See also Android Security & Privacy Year 2018 in Review (pdf) and blog.google.

2. The next 15 years of Gmail | blog.google

-- John Poole, Editor, Domain Mondo  

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Facebook $FB Q4 2018 Earnings LIVE Webcast, Jan 30, 2019, 5pm EST

$FB

Facebook Q4 2018 Earnings LIVE Webcast January 30, 2019, 5:00pm EST Listen to Webcast.
Read the Earnings Press Release (pdf) issued Jan 30 after market close: Revenues rose 30% to $16.9B; mobile advertising revenue was 93% of ad revenue, up from prior year's 89%, and net income was up 61% to $6.88B. Other highlights below.

Facebook, Inc.
NASDAQ: FB
Principal domain: facebook.com
Investor relations: investor.fb.com

UPDATE: Fourth Quarter and Full Year 2018 Operational and Other Financial Highlights

• Daily active users (DAUs) – DAUs were 1.52 billion on average for December 2018, an increase of 9% year-over-year.
• Monthly active users (MAUs) – MAUs were 2.32 billion as of December 31, 2018, an increase of 9% year-over-year.
• Mobile advertising revenue – Mobile advertising revenue represented approximately 93% of advertising revenue for the fourth quarter of 2018, up from approximately 89% of advertising revenue in the fourth quarter of 2017.
• Capital expenditures – Capital expenditures were $4.37 billion and $13.92 billion for the fourth quarter and full year 2018, respectively.
• Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $41.11 billion at the end of the fourth quarter of 2018.
• Headcount – Headcount was 35,587 as of December 31, 2018, an increase of 42% year-over-year.
• In addition, the company estimates that around 2.7 billion people now use Facebook, Instagram, WhatsApp, or Messenger (the "Family" of services) each month, and more than 2 billion people use at least one of the Family of services every day on average.

From the original post:
Facebook's fourth quarter and full year 2018 financial results will be released after market close on Wednesday, January 30, 2019. Facebook will host a conference call to discuss its results at 2 p.m. PT / 5 p.m. ET the same day. The live webcast of the call can be accessed at the Facebook Investor Relations website at investor.fb.com, along with the company's earnings press release, financial tables, and slide presentation. Following the call, a replay will be available at the same website. A telephonic replay will be available for one week following the conference call at 404.537.3406 or 855.859.2056, Conference ID: 6461349. Transcripts of conference calls with publishing equity research analysts held on January 30, 2019 will also be posted to the investor.fb.com website.

See also:

• January 24, 2019 https://www.plainsite.org/realitycheck/fb.pdf
• Apple says it banned Facebook's Research app yesterday, before Facebook could voluntarily shut it down, and condemns “clear breach of their agreement”--techcrunch.com.
• Facebook’s messaging merger leaves lawmakers questioning the company’s power: ‘We cannot allow platform integration to become privacy disintegration’--theverge.com.
• Ireland is questioning Facebook’s plan to merge Messenger, Instagram, and WhatsApp--Facebook’s previous data-sharing proposals have ‘given rise to significant data protection concerns’--theverge.com.
• In WSJ Op-Ed, Mark Zuckerberg Speaks Down to Users and Misses the Point--eff.org, and "A Guided Tour of the Data Facebook Uses to Target Ads"--eff.org.

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Year 2018 in Review & Fall of the FAANGs $AAPL $FB (video)

2018: Year in Review

Among the key events of the year; Donald Trump met Kim Jong Un, Facebook's growth slowed as Apple's market cap hit $1 trillion, and a trade war between the US and China weakened the global economy. Videos above and below published by the Financial Times (ft.com).

A Tale of Two Stocks: Apple $AAPL and Facebook $FB:

$AAPL

$FB

Techlash: the fall of the FAANGs

FT.com's Rana Foroohar explains what happened this year to the FAANGs (Facebook, Apple, Amazon, Netflix, Google, et al) in the tech sector, and what may further impact the sector in 2019.

Inflation, 2018

Venezuela: 12615%
Turkey: 12%
Pakistan: 5%
India: 4.7%
Mexico: 4.4%
Saudi: 4.4%
Indonesia: 3.5%
Brazil: 3.5%
Russia: 2.9%
US: 2.5%
UK: 2.4%
Canada: 2.2%
China: 2.2%
Malaysia: 1.9%
France: 1.9%
Germany: 1.8%
Israel: 1.7%
S Korea: 1.7%
Italy: 1.2%
Japan: 1%

— The Spectator Index (@spectatorindex) December 17, 2018

Currency against US Dollar, past year.

Japan: +2.6%
Mexico: 0%

Nigeria: -0.2%
Egypt: -0.4%
Euro: -4%
UK: -5%
China: -5%
Indonesia: -7%
Canada: -7%
Australia: -9%
India: -10%
Iran: -17%
Brazil: -18%
Russia: -19%
Pakistan: -26%
Turkey: -39%
Argentina: -107%
Venezuela: -2,400,000%

— The Spectator Index (@spectatorindex) December 26, 2018

Imprisoned journalists, 2018

Turkey: 68
China: 47
Egypt: 25
Saudi Arabia: 16
Eritrea: 16
Vietnam: 11
Azerbaijan: 10
Iran: 8
Cameroon: 8

(Committee to Protect Journalists)

— The Spectator Index (@spectatorindex) December 25, 2018

Middle East nominal GDP, 2018. ($ billion)

Saudi: 769
Turkey: 713
UAE: 432
Iran: 430
Israel: 365
Egypt: 249
Iraq: 230
Qatar: 188
Kuwait: 144
Oman: 81
Lebanon: 56
Libya: 43
Jordan: 41
Bahrain: 39
Yemen: 28

— The Spectator Index (@spectatorindex) December 25, 2018

Meat consumption per year. (kilograms per person)

US: 120
Australia: 111
Spain: 97
Israel: 96
Canada: 94
Italy: 90
Germany: 88
France: 87
Brazil: 85
UK: 84
Russia: 69
South Africa: 58
China: 58
Saudi: 54
Japan: 45
Turkey: 25
Pakistan: 14
Indonesia: 11
Nigeria: 8
India: 4

(FAO)

— The Spectator Index (@spectatorindex) December 23, 2018

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Digital Winner Microsoft $MSFT, Digital Loser Facebook $FB? (video)

2018's Most Spineless Board

L2inc.com video above published Nov 29, 2018--Scott Galloway's digital winners and losers--it's time for Facebook's Board of Directors to stand on their feet.

$MSFT

$FB

$AAPL

$AMZN

Auto-generated transcript:

00:00  A Winner: Microsoft earlier this week
00:04  Microsoft dethroned Apple even if just
00:07  for a minute as the most valuable firm
00:10  in the US boasting a market
00:11  capitalization north of 800 billion
00:15  dollars to be fair it's not that
00:16  Microsoft passed Apple but that Apple
00:19  fell below Microsoft shedding a quarter
00:21  of a trillion dollars in value as
00:23  analysts wonder if we've reached peak
00:25  iPhone what explains Microsoft success
00:28  or more specifically their staying power
00:31  two things first
00:32  diversity Microsoft maintains a diverse
00:35  revenue stream from software hardware
00:36  and cloud services meanwhile Alphabet
00:40  and Facebook are mostly ad dependent
00:42  Apple is a hardware firm and Amazon
00:44  relies mostly on product sales to
00:47  recurring revenue successful
00:49  organizations have convinced customers
00:51  to enter into a monogamous relationship
00:53  via recurring revenue streams think
00:57  Netflix Spotify and Amazon run what
01:00  Amazon Prime has done with the consumer
01:02  market Microsoft has done with the
01:04  business market visa vie their office
01:06  offering it's much easier to plan a
01:08  business against recurring revenue and
01:10  the market loves it a Loser the Facebook
01:14  Board of Directors our 2018 award for
01:17  most spineless and damaging Board of
01:19  Directors what is the role of a Board of
01:21  Directors care and duty specifically
01:24  serve as fiduciaries for stake holders
01:26  that includes teens that includes the
01:29  Commonwealth and of course shareholders
01:31  who have seen the value of their shares
01:33  shed a third of their value because of
01:36  irresponsible reckless negligent
01:39  behavior on the part of the CEO and the
01:42  CEO oh so at the end of the day what is
01:44  a board supposed to do they decide if
01:46  and when the company gets sold and to
01:48  hire and fire the CEO what has the board
01:51  done here nothing what should they do
01:54  first they should fire Sheryl Sandberg
01:57  the problem with a two-class shareholder
01:59  structure and the reason the SEC should
02:02  revisit the concept of banning all to
02:05  class companies or perhaps making it
02:08  such that when a company punched through
02:10  a hundred billion in market cap it
02:11  reverts to one class of stock
02:13  it has a ripple effect of unintended
02:16  consequences in the unintended
02:17  consequence here is that their COO that
02:20  should have been fired a year ago is
02:22  still here because quite frankly the
02:24  board does not want to be the board that
02:26  fires the woman in a sea of men in big
02:29  tech and that's a legitimate excuse
02:31  however she has made a billion dollars
02:35  and she will move on and do just fine
02:37  every day executives are fired for a
02:39  fraction of the infractions of Miss
02:42  Sandberg and the Zuck at the end of the
02:45  day the person ultimately responsible
02:47  for all of this reckless behavior that
02:49  this company is Mark Zuckerberg and he
02:52  should be removed from the CEO role he
02:55  should likely maintain his chairmanship
02:56  his DNA and programming genius is key to
03:00  retention of the value of this firm he
03:02  deserves to stick around he owned 16% of
03:05  the company however he can be fired and
03:08  this is how he could fight back he
03:11  controls 60% of the voting shares so if
03:13  he is removed from the CEO role it is
03:15  technically feasible that the next day
03:17  he removes the entire board what would
03:20  actually happen play this out the day
03:23  after he is removed from the CEO role he
03:26  fires his entire board that would be
03:29  utter chaos a five-car alarm alerting
03:33  legislators shareholder rights lawsuits
03:36  and governments globally we have to ask
03:38  would in fact the Zuck burn his castle to
03:42  save it the board should not be asking
03:44  this the board should be asking what is
03:47  the right thing to do as Emiliano Zapata
03:49  famously said it is better to die on
03:52  your feet than to live on your knees it
03:54  is time for the Board of Directors at
03:56  Facebook to stand on their feet ....

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Facebook $FB Q3 2018 Earnings LIVE Webcast Oct 30, 5pm EDT

Facebook’s 2018 Just Keeps Getting Worse

30 million Facebook users had their accounts hacked (Fortune.com video, Oct 12, 2018).

Facebook, Inc.

NASDAQ: FB

$FB

Principal domains: facebook.com, whatsapp.com, messenger.com, instagram.com, oculus.com

Investor Relations: https://investor.fb.com/

Facebook Q3 2018 Earnings LIVE Webcast Oct 30, 2018, 5:00 pm EDT

Third quarter 2018 financial results will be released after market close on Tuesday, October 30, 2018. The live webcast (and replay), the company's earnings press release, financial tables, and slide presentation will be available from the investor relations website. A telephonic replay will be available for one week following the conference call at 404.537.3406 or 855.859.2056, Conference ID: 5638138.

UPDATE: Q3 2018 GAAP EPS of $1.76 beats by $0.30, revenue of $13.73B (+32.9% Y/Y) misses consensus estimates by $40M, user growth slows. Earnings Release (pdf) and Slides (pdf).

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Amazon $AMZN Joins $Trillion Club & How To Tame Tech Giants (video)

1) Amazon $AMZN & $Trillion Club

Amazon $AMZN has doubled in market value in just a year and joined Apple $AAPL Tuesday by reaching (briefly) the elite ranks of companies worth at least $1 trillion in market capitalization. CNN.com video above published Sep 4, 2018.

$AAPL

$AMZN

$GOOGL

$MSFT

Who's next? Google $GOOG $GOOGL or Microsoft $MSFT?

source: statista.com

How To Tame The Tech Giants

The Economist.com video above published Sep 4, 2018: Google, Facebook and Amazon are among the biggest companies in the world. Their dominance is also worrying for consumers and competitors.

How many can imagine life without Google, Facebook or Amazon? Chances are you're using one or more of the tech giants' services daily.. These companies have transformed how we buy goods online and consume information online. But there is a growing view that the big web platforms need to be reined in.

• Google handles up to 90% of all web searches in many countries which gives it unprecedented access to personal data.
• Facebook connects over 2 billion users or a quarter of the world's population. 
• Together, the Google and Facebook duopoly dominate online advertising, which is also how they make most of their money since their services, for the most part, are free. 
• Amazon accounts for over 40 percent of all ecommerce sales in America and has large market shares elsewhere, which allows Amazon to dictate terms to suppliers.

Of course, the companies are also innovative, dynamic, and bring a lot of value to consumers, but at the same time, their size brings worries. Today's major tech companies are among the largest firms in the world. A little over a decade ago they barely made the list. Critics worry that they're BAAD - that's big, anti-competitive, addictive and destructive to democracy.

Being big, per se, isn't illegal but anti-competitive worries are real and Google has been fined by European regulators for favoring its own apps, while Facebook has bought up startups that could have competed against it.

The market share of each of these tech giants is as large as industrial giants of the past when regulators broke them up or treated them as utilities.

The video above suggests various approaches: First, regulators should scrutinize even small mergers for potentially anti-competitive effects, to prevent the tech giants from buying up firms that could become rivals. Second,  regulators should consider giving individuals rights over their data and potentially require the tech platforms to share data to encourage competition.

See also: Amazon is expected to take almost 50 percent of the U.S. e-commerce market by year's end--CNBC.com.

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