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silicon-valley-disruption
The chapter critiques Silicon Valley's ethos of rapid innovation and disruption without adequate regard for consequences or regulation.
1 chapter across 1 book
Libra Shrugged: How Facebook Tried to Take Over the Money (2020)David Gerard
Chapter 13: Mark Zuckerberg before the US House 111
This chapter outlines Facebook's attempt to create Libra, a global digital currency intended to revolutionize finance and provide financial inclusion, but which was fundamentally flawed and alarmed governments worldwide. The plan was marked by vague details, regulatory concerns, and the potential to disrupt global economies, ultimately leading to its rejection by regulators and the shelving of the original Libra concept. The chapter also frames Libra as emblematic of Silicon Valley's disruptive ethos, highlighting the clash between tech ambition and governmental control.