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On Thursday, The Wall Street Journal reported new potential details regarding Facebook’s long-awaited cryptocurrency plans. The corporate is reportedly seeking dozens of business partners, including online merchants and financial companies, in an attempt to increase the reach of its blockchain-based marketplace.
would-be partners are being asked to pitch into an investment
fund, valued at $1 billion or more, that would serve as backing for Facebook’s
coin and mitigate the wild speculative swings that make cryptocurrencies like bitcoin hard to spend. The pitch, in line with the Journal,
involves offering merchants
lower fees than credit cards.
Some were fast to note that this would reduce Facebook’s ability to make money from payments in the short term. However that may not matter much—if, in the end, Facebook’s crypto effort is really all regarding getting you to spend more time glued to Facebook.
Facebook seems to be already building out the plumbing to make its marketplace a reality. At its F8 developer conference this week, the word “blockchain” was notably absent. However even as Zuckerberg emphasized the company’s plan to reorganize your Facebook experience around intimate relationships, his update included plenty of ways in which money would be involved.
Many youth in 2019 feel like they’re overworked and underpaid, usually quite rightly. However, there are some among us who are making an absolute fortune from a line of work that, until recently, didn’t even exist.
Abigail Ratchford is a prime example – raking in a huge £720,000 ($907,344) a year by posting photos of herself on Instagram and Snapchat.
The 27-year-old has amassed 9.1 million followers on Instagram and earns £6,300 ($7,937) per post.
Think about that for a second. Months of your alarm going off, putting your shitty work clothes on, getting stuck in rush hour, listening to Tim talk about his stupid kids, conferences meetings meetings, and eventually you may have accrued£6,300.