Facebook “Libra” changes: A Structural Shift in the Business Model — A step towards possible “Public Capitalism”

Kyôske TOMONARI,  Tomoki YATSUZUKA, Kan Hiroshi SUZUKI* & Ken ITO

Submitted 25 Jan  2020

The Facebook’s Libra White Paper[1] was first released on 18th June 2019 and its business model was altered in October 2019. The House of Representatives Committee on Financial Services requested public testimony from Mark ZUCKERBERG, the Facebook CEO, regarding the Libra project on 23th October 2019[2][3]. Around the same time, the dividend payment system was removed from the Libra proposal but the change was not widely known until December 2019. We support the business model alteration as it advances its attribute of the public good and reduces its profit-making attribute.