Dear Reader,
Facebook is the dominant social network globally. Facebook is described as a technology conglomerate.
Actually the main business of the company is its social networking site www.facebook.com and lately its Instagram property which is now the main growth engine of Facebook Inc. WhatsApp and Messenger have also more than 1 billion monthly active users.
However, the social networking part of Facebook is reaching the limits of its explosive growth lately. Yes, the revenue of Facebook Inc. grew 21.60 % year on year in 2020. However, the monthly average users numbers are not growing so fast simply because on aggregate Facebook Inc's online properties have around 3 billion users globally and the world's population is 7.8 billion. Yes, China has banned Facebook and China has a population of 1.4 billion, but China's equivalents of Facebook like Tencent and Weibo are now deeply entrenched and dominant there.
Facebook is actually looking to develop itself along the lines of its China competitors. That is, use its user base to create a super application that integrates social networking, video, online shopping and even digital currencies. In fact, I think videos, online shopping and digital currencies are very promising verticals for Facebook to grow. Amazon is the dominant force in online merchandising and YouTube in videos, however.
In Bitcoin, cryptocurrencies and payments Facebook is a pioneer. The banking and the connected payments business is a multi trillion USD per year in revenues business globally. Facebook has first mover advantage in cryptocurrencies. Diem, formerly known as Libra, is a new payments system and possibly a cryptocurrency developed by Facebook. Diem, initially branded as Libra, encountered resistance from regulators and it had to reformulate its proposition. But Facebook has huge resources, both financial and in terms of programmers. Coupled with the vision of Facebook's founder Mark Zuckerberg Diem is a formidable proposition.
Diem first was to be backed by a basket of fiat currencies, but now reportedly it is to be backed only by the USD. Bitcoin and cryptocurrencies are the future of the global payments system or the future of our world. Cryptocurrencies save effort, time and money for people. For now the price volatility of cryptocurrencies prevents them from becoming a fully fledged means of exchange. Backing Diem or other crypto with the USD or other leading currencies, however, could solve that problem.
Mark Zuckerberg's vision, Facebook Inc's resources, the first mover advantage and its the user base could turn Diem and crypto into the future major growth engine of Facebook.
Disclaimer: The blogposts and comments on this blog and posts on social networks(Twitter, LinkedIn, Facebook etc.) are not investment recommendation, are provided solely for informational purposes, and do not constitute an offer or solicitation to buy or sell any securities. The opinions expressed on the blog are Petar Posledovich's. Petar Posledovich does not guarantee the accuracy of the information presented on this blog and social networks. The information presented is "as is".
Petar Vladimirov Posledovich is not liable for any investment losses incurred by reading and interpreting blogposts on this blog and posts on social networks.
Conflicts of interest: I may possess some of the securities, currencies or their derivatives mentioned in the blogpost and posts on social networks(Twitter, LinkedIn etc.)!
Respectfully yours,
Petar Posledovich
1 comment:
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