ZUCK GOES TO CONGRESS.
The official live thread.
Can he change minds? Will Libra find new supporters? Will he be put on the spot to make major compromises? Will it be a referendum on FB in general w Libra as an afterthought?
Let's find out! 👇
The official live thread.
Can he change minds? Will Libra find new supporters? Will he be put on the spot to make major compromises? Will it be a referendum on FB in general w Libra as an afterthought?
Let's find out! 👇
2/ Here's the link for the official stream.
"An Examination of Facebook and Its Impact on the Financial Services and Housing Sector"
"An Examination of Facebook and Its Impact on the Financial Services and Housing Sector"
3/ Maxine Waters (chair) kicking things off with this bomb..
"I believe Facebook should address the tons of things it's already messed up before it proceeds with anything new like Libra" (obviously a summary)
Goes on to talk about Fb's record on discrimination, competition, etc
"I believe Facebook should address the tons of things it's already messed up before it proceeds with anything new like Libra" (obviously a summary)
Goes on to talk about Fb's record on discrimination, competition, etc
4/ (Waters continued)
Russians, fines, data issues, political speech (btw, first prediction from my annotations that election ads would be a thing here)....
So...in case there was any question about whether this was going to be about Libra or a referendum on Facebook...
Russians, fines, data issues, political speech (btw, first prediction from my annotations that election ads would be a thing here)....
So...in case there was any question about whether this was going to be about Libra or a referendum on Facebook...
5/ Now to @PatrickMcHenry
"Today is a trial on American innovation."
...talking about social media cultural anxiety, digital divide issues
"Today is a trial on American innovation."
...talking about social media cultural anxiety, digital divide issues
@PatrickMcHenry 6/ "Maybe it's not about Libra, not about housing ads, not about Facebook at all. It's about that larger question. And fair or not fair, you're here to answer for the digital age."
-@PatrickMcHenry *nails* it.
-@PatrickMcHenry *nails* it.
@PatrickMcHenry 7/ OH SHIT.
McHenry, through gritted teeth, calls out Brad Sherman for comparing Libra to 9/11 attacks. Brad Sherman asks him to yield, saying he was referring to his comments.
McHenry says: "Thank you for taking the bait."
McHenry, through gritted teeth, calls out Brad Sherman for comparing Libra to 9/11 attacks. Brad Sherman asks him to yield, saying he was referring to his comments.
McHenry says: "Thank you for taking the bait."
@PatrickMcHenry 8/ Zuckerberg is up.
Sticking with the narrative:
+unbanked/shut out of the financial system
+financial industry is stagnant
+I'm not the ideal messenger
+there are risks to not innovating
+CHINA.
+Libra backed mostly by USD$
Basically see:
Sticking with the narrative:
+unbanked/shut out of the financial system
+financial industry is stagnant
+I'm not the ideal messenger
+there are risks to not innovating
+CHINA.
+Libra backed mostly by USD$
Basically see:
@PatrickMcHenry 9/
DAMN.
"Tell us what changed? How did cryptocurrency go from being misleading and deceptive last year to being the means for financial inclusion this year?"
You may not love her, but this is a point lots made when Libra was announced.
DAMN.
"Tell us what changed? How did cryptocurrency go from being misleading and deceptive last year to being the means for financial inclusion this year?"
You may not love her, but this is a point lots made when Libra was announced.
@PatrickMcHenry 10/ Before you get too stoked though, it was still SO clearly just a way to get at the *real* question she's interested in - which is the policy FB announced of not fact checking political ads.
Again: there are going to be two entirely separate conversations going on today.
Again: there are going to be two entirely separate conversations going on today.
@PatrickMcHenry 11/ Patrick McHenry questions:
#1 - How have you changed your view on technology and China?
Zuckerberg says - would have previously been more optimistic, but now worries that working with China compromises American values.
#1 - How have you changed your view on technology and China?
Zuckerberg says - would have previously been more optimistic, but now worries that working with China compromises American values.
@PatrickMcHenry 12/ McHenry asks: "Why Switzerland?"
The biggest issues with Zuckerberg's America-centric pledges are 1) Switzerland and 2) basket of currencies.
(BTW I think McHenry is trying to make a point that there is a lack of regulatory clarity here...he's alleyooping)
The biggest issues with Zuckerberg's America-centric pledges are 1) Switzerland and 2) basket of currencies.
(BTW I think McHenry is trying to make a point that there is a lack of regulatory clarity here...he's alleyooping)
@PatrickMcHenry 13/ Now up Carolyn Maloney [D-NY]
Q: Which regulators do you think need to approve you? And what approvals do you actually need?
Z: Uhh..I guess... all of them?
Q: Which regulators do you think need to approve you? And what approvals do you actually need?
Z: Uhh..I guess... all of them?
@PatrickMcHenry 14/ Maloney...
Q: Will you commit to not supporting anonymous wallets on Libra? I consider it a national security issue.
--
This is the first Q mention of crime, terrorism, money laundering
Q: Will you commit to not supporting anonymous wallets on Libra? I consider it a national security issue.
--
This is the first Q mention of crime, terrorism, money laundering
@PatrickMcHenry 15/ Zuckerberg on other cryptocurrencies:
"Of course, as a big company, we're not going to do something that isn't regulated or is decentralized"
"Of course, as a big company, we're not going to do something that isn't regulated or is decentralized"
@PatrickMcHenry 16/ Ann Wagner [R-MO]
Asks about defections -- "find it very concerning...what do you make of these partners who don't think you're up to the task of meeting our money laundering concerns."
Nice putting words in their mouth about their departures.
Asks about defections -- "find it very concerning...what do you make of these partners who don't think you're up to the task of meeting our money laundering concerns."
Nice putting words in their mouth about their departures.
@PatrickMcHenry 17/ Wagner again
Going after Facebook as the platform where child sex predators live
"If you enact end-to-end encryption, what will become of the children?"
Going after Facebook as the platform where child sex predators live
"If you enact end-to-end encryption, what will become of the children?"
@PatrickMcHenry 18/
"The vast majority of the fact that those reports references us is that we do the best job of anyone of finding it and reporting it."
This reads to me as an almost for sure unpopular and yet also sincere answer.
"The vast majority of the fact that those reports references us is that we do the best job of anyone of finding it and reporting it."
This reads to me as an almost for sure unpopular and yet also sincere answer.
@PatrickMcHenry 19/ Nydia Velázquez [D-NY]
Brings up the $5B data settlement fine.
"Why should we believe what you and Calibra are saying about protecting customer privacy and financial data?"
Brings up the $5B data settlement fine.
"Why should we believe what you and Calibra are saying about protecting customer privacy and financial data?"
@PatrickMcHenry 20/ Frank Lucas [R-OK]
(Roughly) "The reason many folks are unbanked is that they don't TRUST banks. My guess is they don't trust captains of industry either. Do you see this as a hurdle?"
(Roughly) "The reason many folks are unbanked is that they don't TRUST banks. My guess is they don't trust captains of industry either. Do you see this as a hurdle?"
@PatrickMcHenry 21/ Gregory Meeks [D-NY]
Basically calling BS on their intention to work with unbanked/underbanked because FB doesn't have its money in minority depository institutions (MDIs).
Basically calling BS on their intention to work with unbanked/underbanked because FB doesn't have its money in minority depository institutions (MDIs).
@PatrickMcHenry 22/ Bill Posey [R-FL]
Oh Jesus.
Posey bringing up that he's angry that Facebook is blocking anti-Vaxxers.
Take your bathroom breaks, guys.
Oh Jesus.
Posey bringing up that he's angry that Facebook is blocking anti-Vaxxers.
Take your bathroom breaks, guys.
@PatrickMcHenry 23/ Oh boy, Brad Sherman time [D-CA]
To be clear - this is the MOST anti-crypto person in Congress.
Let's see what he has to say today...
To be clear - this is the MOST anti-crypto person in Congress.
Let's see what he has to say today...
@PatrickMcHenry 24/ Sherman
USD is great for everything except tax evaders and drug dealers.
Basically saying US stands to lose all power of sanctions and every other benefit of reserve currency status.
Also, couldn't help hint that it's as dangerous as terrorism. Christ.
USD is great for everything except tax evaders and drug dealers.
Basically saying US stands to lose all power of sanctions and every other benefit of reserve currency status.
Also, couldn't help hint that it's as dangerous as terrorism. Christ.
@PatrickMcHenry 25/ Sherman
"The real money is in the tax evaders. And, to some extent, the drug dealers."
"If this explodes the way it might, you will not be able to hide behind the idea that you didn't create the Libra..that it's just your partners that create wallets for terrorists"
"The real money is in the tax evaders. And, to some extent, the drug dealers."
"If this explodes the way it might, you will not be able to hide behind the idea that you didn't create the Libra..that it's just your partners that create wallets for terrorists"
@PatrickMcHenry 26/ Blaine Luetkemeyer [R-MO]
Q: What would be the impact on the reserve status of the dollar?
A: B/c USD is the biggest part, I think it would extend the reserve power of the dollar...
Q: What would be the impact on the reserve status of the dollar?
A: B/c USD is the biggest part, I think it would extend the reserve power of the dollar...
@PatrickMcHenry 27/ Zuckerberg
"I think that we can't sit here and assume that because America is the leader today, we will always be the leader. I personally worry that if we don't do things like this, we will eventually lose our leadership."
"I think that we can't sit here and assume that because America is the leader today, we will always be the leader. I personally worry that if we don't do things like this, we will eventually lose our leadership."
@PatrickMcHenry 28/ Luetkemeyer responds
Concern is when the board decides yuan is stronger so they diminish the US balance of reserve down to 1/3.
Z: I think it would be completely reasonable for our regulators to impose a restriction that it needs to be primarily USD
Concern is when the board decides yuan is stronger so they diminish the US balance of reserve down to 1/3.
Z: I think it would be completely reasonable for our regulators to impose a restriction that it needs to be primarily USD
@PatrickMcHenry 29/ Bill Huizenga [R-MI]
"You've done the impossible in getting Brad Sherman, Maxine Waters and many from the other aisles to use tweets from Donald Trump to support their point."
Lololol.
"You've done the impossible in getting Brad Sherman, Maxine Waters and many from the other aisles to use tweets from Donald Trump to support their point."
Lololol.
@PatrickMcHenry 30/
As an aside, watching these things regularly makes one:
1) REALLY appreciate the politicians who ask real questions because they want information
2) REALLY dislike people who use rhetoric to catch gotcha moments on C-SPAN
As an aside, watching these things regularly makes one:
1) REALLY appreciate the politicians who ask real questions because they want information
2) REALLY dislike people who use rhetoric to catch gotcha moments on C-SPAN
@PatrickMcHenry 31/ GREAT question from Huizenga
"What happens if FB doesn't get the approvals it seeks but the Libra Association chooses to move forward anyway?"
Z: Well I hope they wouldn't do that, but I think we'd be forced to leave the Association.
BIG one
"What happens if FB doesn't get the approvals it seeks but the Libra Association chooses to move forward anyway?"
Z: Well I hope they wouldn't do that, but I think we'd be forced to leave the Association.
BIG one
@PatrickMcHenry 32/ Steve Stivers [R-OH]
Q: Mr Zuckerberg, how are you doing?
A: I'm...okay.
<general laughs>
Stivers: Heh, that was honest, thank you.
Q: Mr Zuckerberg, how are you doing?
A: I'm...okay.
<general laughs>
Stivers: Heh, that was honest, thank you.
@PatrickMcHenry 33/ Stivers
Why did you think you needed to create a private currency? Why not just pick a currency and use it as part of your payments system?
....Getting elemental overhere.
A: 'The goal is to create a payment system, rather than a currency'
Why did you think you needed to create a private currency? Why not just pick a currency and use it as part of your payments system?
....Getting elemental overhere.
A: 'The goal is to create a payment system, rather than a currency'
@PatrickMcHenry 34/ AHHH big moment.
Zuckerberg signals that it might be a better idea to build payment rails on 1:1 coin matching, rather than a basket of currencies.
They are *CLEARLY* signaling that THIS is a negotiable.
Seriously, step back from the bombast, this is a negotiation.
Zuckerberg signals that it might be a better idea to build payment rails on 1:1 coin matching, rather than a basket of currencies.
They are *CLEARLY* signaling that THIS is a negotiable.
Seriously, step back from the bombast, this is a negotiation.
@PatrickMcHenry 35/ Al Green [D-TX]
The dems are really hammering Zuckerberg across the board on diversity issues.
"Is it true that the majority of the people associated with this endeavor are white men?"
"Is it true that one would have to have $10m to become a part of the association?"
The dems are really hammering Zuckerberg across the board on diversity issues.
"Is it true that the majority of the people associated with this endeavor are white men?"
"Is it true that one would have to have $10m to become a part of the association?"
@PatrickMcHenry 36/ Green
"The people who are for free markets bought into [Madoff's] ponzi schemes....
When things go wrong...we are the people who have to make them right."
Makes it clear that he's NOT comparing Zuckerberg to Madoff but explaining why so much consternation.
"The people who are for free markets bought into [Madoff's] ponzi schemes....
When things go wrong...we are the people who have to make them right."
Makes it clear that he's NOT comparing Zuckerberg to Madoff but explaining why so much consternation.
@PatrickMcHenry 37/ Andy Barr [R-KY]
"Always better to be on the side of innovation and always place the burden on the government to justify intervention and regulation."
The longer Libra goes, the more it will become another partisan political football (for good or ill)
"Always better to be on the side of innovation and always place the burden on the government to justify intervention and regulation."
The longer Libra goes, the more it will become another partisan political football (for good or ill)
@PatrickMcHenry 38/ Barr asks Zuckerberg about China.
Zuckerberg characterizes it that "as soon as we released the Libra whitepaper" China kicked off a public-private partnership to get a digital RMB.
Any reason it's better (politically) not to refer to the 5 years it's been in R&D?
Zuckerberg characterizes it that "as soon as we released the Libra whitepaper" China kicked off a public-private partnership to get a digital RMB.
Any reason it's better (politically) not to refer to the 5 years it's been in R&D?
@PatrickMcHenry 39/ Barr dropping John Stuart Mill quotes.
"I find it highly troubling that politicians are trying to bully you into being the speech police.."
but....
"Will you commit that Facebook will not censor any ad in support of Donald Trump."
Figured this would happen.
"I find it highly troubling that politicians are trying to bully you into being the speech police.."
but....
"Will you commit that Facebook will not censor any ad in support of Donald Trump."
Figured this would happen.
@PatrickMcHenry 40/ Emanuel Cleaver [D-MO]
Asking about how to police hate speech
Zuckerberg answers that it shouldn't be any one company's job to regulate speech. This is something that he's basicaly said before...a lot of these issues are too big for any one company.
Asking about how to police hate speech
Zuckerberg answers that it shouldn't be any one company's job to regulate speech. This is something that he's basicaly said before...a lot of these issues are too big for any one company.
@PatrickMcHenry 41/ Scott Tipton [R-CO]
Asks again the question: if US regulators don't approve, will FB pull out?
Zuckerberg reaffirms that they would pull out.
(Some *tiny* hemming and hawing but honestly this is a pretty serious commitment)
Asks again the question: if US regulators don't approve, will FB pull out?
Zuckerberg reaffirms that they would pull out.
(Some *tiny* hemming and hawing but honestly this is a pretty serious commitment)
@PatrickMcHenry 42/ Tipton
"If Libra works, could we buy ANYTHING that is legal?"
Oh boy, this feels like a gotcha coming up...
"If Libra works, could we buy ANYTHING that is legal?"
Oh boy, this feels like a gotcha coming up...
@PatrickMcHenry 43/ Live footage of me when I hear 'The committee will now take a 5 minute recess' rather than "that's all for today"
@PatrickMcHenry 44/ Ed Perlmutter [D-CO]
And we're back...
Perlmutter wants to really pin down this answer. Is Facebook going to SEEK approval, or WAIT for approval.
Zuckerberg clarifies "we are not going to launch anything until we GET approval"
And we're back...
Perlmutter wants to really pin down this answer. Is Facebook going to SEEK approval, or WAIT for approval.
Zuckerberg clarifies "we are not going to launch anything until we GET approval"
@PatrickMcHenry 45/ Perlmutter comes at the gut of it:
"Do you consider Libra to be money?"
Zuckerberg: "I seek it as a payment system."
"Do you consider Libra to be money?"
Zuckerberg: "I seek it as a payment system."
@PatrickMcHenry 46/ Roger Williams [R-TX]
Well...hi there
"Mr Zuckerberg are you a capitalist or are you a socialist."
"I would definitely consider myself a capitalist."
Well...hi there
"Mr Zuckerberg are you a capitalist or are you a socialist."
"I would definitely consider myself a capitalist."
@PatrickMcHenry 47/ Williams
"Can you explain why the private sector is better positioned to develop a digital currency than the Fed or a government agency?"
Z: We should encourage everyone - not just us, and including the government - to try new things.
This question is incredibly key.
"Can you explain why the private sector is better positioned to develop a digital currency than the Fed or a government agency?"
Z: We should encourage everyone - not just us, and including the government - to try new things.
This question is incredibly key.
@PatrickMcHenry 48/ Williams:
What are other countries - specifically China - doing in the digital currency space?
Z: China is the primary partner. They're very focused on exporting it around the world
^export is an important new detail added to the narrative.
What are other countries - specifically China - doing in the digital currency space?
Z: China is the primary partner. They're very focused on exporting it around the world
^export is an important new detail added to the narrative.
@PatrickMcHenry 49/ Zuckerberg responding:
We need to weight the POTENTIAL risks of a US-based system to the FOR SURE risks of a China led system.
Devil you know vs. Devil you know but can (sorta) control?
We need to weight the POTENTIAL risks of a US-based system to the FOR SURE risks of a China led system.
Devil you know vs. Devil you know but can (sorta) control?
@PatrickMcHenry 50/ Jim Himes [D-CT]
"Facebook, today, is more like a country than a company. So my question: given the investment that we made in establishing the context for freedom of expression, what investment will Facebook make...to ensure that this freedom of expression is a good thing?"
"Facebook, today, is more like a country than a company. So my question: given the investment that we made in establishing the context for freedom of expression, what investment will Facebook make...to ensure that this freedom of expression is a good thing?"
@PatrickMcHenry 51/ Okay yo guys people NEED to stop confusing "commending" and "recommending." This is like 3 times people have said "I commend that to you."
@PatrickMcHenry 52/ French Hill [R-AR]
Hill says his letter to Fed Chair Powell about creating a digital dollar was inspired by Marcus. Asks "wouldn't that meet all the standards you need?"
How the hell is Zuck going to answer this one?
Hill says his letter to Fed Chair Powell about creating a digital dollar was inspired by Marcus. Asks "wouldn't that meet all the standards you need?"
How the hell is Zuck going to answer this one?
@PatrickMcHenry 53/ Zuckerberg on a US digital dollar
"The community is split on this... it would be easier from a US regulatory perspective but may make it less acceptable elsewhere."
"The community is split on this... it would be easier from a US regulatory perspective but may make it less acceptable elsewhere."
@PatrickMcHenry 54/ Bill Foster [D-IL]
Q: "Will Libra allow anonymous transactions? If you allow self-custody, it's pretty hard to stop an anonymous transaction?"
Foster hammering from a technology perspective.
Z: This should be a policy question more than a tech question.
Q: "Will Libra allow anonymous transactions? If you allow self-custody, it's pretty hard to stop an anonymous transaction?"
Foster hammering from a technology perspective.
Z: This should be a policy question more than a tech question.
@PatrickMcHenry 55/ Barry Loudermilk [R-GA]
Says that the person in Washington DC Zuckerberg shares the most with is DJT!
WHY DIDN'T WE GET A QUICK CUT TO ZUCK'S FACE ON THAT?
Says that the person in Washington DC Zuckerberg shares the most with is DJT!
WHY DIDN'T WE GET A QUICK CUT TO ZUCK'S FACE ON THAT?
@PatrickMcHenry 56/ Loudermilk
Q: Is Libra systemically important?
Z: Systemic importance is about scale. Libra wouldn't be popular overnight, just because we have a lot of users.
Q: Is Libra systemically important?
Z: Systemic importance is about scale. Libra wouldn't be popular overnight, just because we have a lot of users.
@PatrickMcHenry 57/ Joyce Beatty [D-OH]
Okay, so on the one hand, Beatty's slamming through another 5 minute gotcha session and it's sort of painful to watch.
On the other, *HOW* do you not assume that this is going to be a line of questioning and get prepared for it?
Okay, so on the one hand, Beatty's slamming through another 5 minute gotcha session and it's sort of painful to watch.
On the other, *HOW* do you not assume that this is going to be a line of questioning and get prepared for it?
@PatrickMcHenry @WarrenDavidson 58/
"Hard to subpoena Satoshi Nakamoto"
@WarrenDavidson
(Someone has been hanging out on bitcoin twitter!)
"Hard to subpoena Satoshi Nakamoto"
@WarrenDavidson
(Someone has been hanging out on bitcoin twitter!)
@PatrickMcHenry @WarrenDavidson 59/
Zuckerberg is, frankly, very practical about this. He's like "Look..we're a huge company..we're not going to add something decentralized and unregulated."
Zuckerberg is, frankly, very practical about this. He's like "Look..we're a huge company..we're not going to add something decentralized and unregulated."
@PatrickMcHenry @WarrenDavidson 60/ @WarrenDavidson
Q: Do you believe that the money itself [behind Libra] could be decentralized? Centralization vs. decentralization is the key - if you can distort or change the value it would be a security.
(unfortunately didn't really get time to hear this one out)
Q: Do you believe that the money itself [behind Libra] could be decentralized? Centralization vs. decentralization is the key - if you can distort or change the value it would be a security.
(unfortunately didn't really get time to hear this one out)
@PatrickMcHenry @WarrenDavidson 61/ Ted Budd [R-NC]
"It's crucial that members of this community be able to differentiate between Libra, which isn't actually a cryptocurrency, and real cryptocurrencies like bitcoin and XRP"
This sentence was designed to make Crypto Twitter's heads explode.
"It's crucial that members of this community be able to differentiate between Libra, which isn't actually a cryptocurrency, and real cryptocurrencies like bitcoin and XRP"
This sentence was designed to make Crypto Twitter's heads explode.
@PatrickMcHenry @WarrenDavidson 62/ Josh Gottheimer [D-NJ]
Q: Should Twitter have to take down Hamas and Hezbollah accounts?
Z: Congressman, it's really not for me to tell Twitter what to do.
Q: Should Twitter have to take down Hamas and Hezbollah accounts?
Z: Congressman, it's really not for me to tell Twitter what to do.
@PatrickMcHenry @WarrenDavidson 64/ Lance Gooden [R-TX]
Q: There used to be a profit incentivization mechanism - that's gone from the website. What's the story?
Z: That idea has been either modified or abandoned.
^interesting - hadn't caught this one.
Q: There used to be a profit incentivization mechanism - that's gone from the website. What's the story?
Z: That idea has been either modified or abandoned.
^interesting - hadn't caught this one.
@PatrickMcHenry @WarrenDavidson 65/ Gooden
Before hearing, I had two issues: 1) previous FB issues; 2) move to Switzerland.
Basically says "you've done a good job answering questions on #1, but difficult for me to get on board with something so big being in a different country."
Before hearing, I had two issues: 1) previous FB issues; 2) move to Switzerland.
Basically says "you've done a good job answering questions on #1, but difficult for me to get on board with something so big being in a different country."
@PatrickMcHenry @WarrenDavidson 66/ Cindy Axne [D-IA]
Asking a lot of questions around data privacy, particularly with regard to people who don't have Facebook accounts.
Actually surprising that there hasn't been more data privacy talk.
Asking a lot of questions around data privacy, particularly with regard to people who don't have Facebook accounts.
Actually surprising that there hasn't been more data privacy talk.
@PatrickMcHenry @WarrenDavidson 67/ Denver Riggleman [R-VA]
"Mr. Zuckerberg, I have a thought provoking question: how accurate was the portrayal in 'The Social Network.'"
"Mr. Zuckerberg, I have a thought provoking question: how accurate was the portrayal in 'The Social Network.'"
@PatrickMcHenry @WarrenDavidson 68/ Sean Casten [D-IL]
Damn this one is getting hot.
"Did you and the President discuss anti-trust investigations"
"Did anyone discuss [FB policy change around elected officials wrt fact checking]"
Damn this one is getting hot.
"Did you and the President discuss anti-trust investigations"
"Did anyone discuss [FB policy change around elected officials wrt fact checking]"
@PatrickMcHenry @WarrenDavidson 69/ Casten asking about hate speech:
It can be jarring, and all of us have our political perspectives and starting points, but these questions of free speech, hate speech, and how they relate to the most powerful amplification machines ever created is a question of our times.
It can be jarring, and all of us have our political perspectives and starting points, but these questions of free speech, hate speech, and how they relate to the most powerful amplification machines ever created is a question of our times.
@PatrickMcHenry @WarrenDavidson 70/ Tom Emmer [R-MN]
"Congress is nowhere close to having caught up with some of the most basic technological changes of our times."
(roughly...@nikhileshde do you have the exact?)
"Congress is nowhere close to having caught up with some of the most basic technological changes of our times."
(roughly...@nikhileshde do you have the exact?)
@PatrickMcHenry @WarrenDavidson @nikhileshde 71/ Emmer
Q: What has FB done to engage the crypto community to help Congress understand all the innovations in this space and why it should be reported?
Z: (Reinforces the idea that it can't be one company). Points out that other Libra Association members are crypto co's
Q: What has FB done to engage the crypto community to help Congress understand all the innovations in this space and why it should be reported?
Z: (Reinforces the idea that it can't be one company). Points out that other Libra Association members are crypto co's
@PatrickMcHenry @WarrenDavidson @nikhileshde 72/ Ayanna Pressley
LOL "Although there are questions of who really started Facebook..."
Gimme a break dude.
LOL "Although there are questions of who really started Facebook..."
Gimme a break dude.
@PatrickMcHenry @WarrenDavidson @nikhileshde 73/ Pressley was super skeptical of the underbanked argument before.
Things......have not changed.
Her point then was and is now that the issue isn't really a technology issue.
"It's not about authentication or banking costs, its about a tsunami of hurt"
Things......have not changed.
Her point then was and is now that the issue isn't really a technology issue.
"It's not about authentication or banking costs, its about a tsunami of hurt"
@PatrickMcHenry @WarrenDavidson @nikhileshde 74/
As an aside, if you want:
1. Video clips
and
2. Almost entirely the non-crypto focused stuff (which is basically most of it), check out this thread
As an aside, if you want:
1. Video clips
and
2. Almost entirely the non-crypto focused stuff (which is basically most of it), check out this thread
@PatrickMcHenry @WarrenDavidson @nikhileshde 75/ Madeleine Dean [D-PA]
Okay we're going off the rails here. Dean suggesting that FB has blocked rooms at a Trump hotel without any intention of going there.
.....
Okay we're going off the rails here. Dean suggesting that FB has blocked rooms at a Trump hotel without any intention of going there.
.....
@PatrickMcHenry @WarrenDavidson @nikhileshde 76/ Jesus Garcia [D-IL]
You gotta give it to Garcia's new "Keep Big Tech Out Of Banking Act." The name captures the zeitgeist about as well as anything could.
You gotta give it to Garcia's new "Keep Big Tech Out Of Banking Act." The name captures the zeitgeist about as well as anything could.
@PatrickMcHenry @WarrenDavidson @nikhileshde 77/ Sylvia Garcia [D-TX]
"Do you agree what Libra is a stablecoin?"
Z: (stunned by a sort of tech question) Wait..what?
"Do you agree what Libra is a stablecoin?"
Z: (stunned by a sort of tech question) Wait..what?
@PatrickMcHenry @WarrenDavidson @nikhileshde 78/ HOLY SHIT AFTER 6 HOURS WE'RE FINALLY DONE.
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