Today's Opening Belle is brought to you by our partners, Equos and Utrust.
Crypto exchange EQUOS has rebranded to EQONEX, pulling together an entire crypto and digital asset ecosystem under one brand.
Its EQO token has also been gaining significant traction as more people discover it, though it’s still affordable.
Since the launch in April, EQO has risen from 50 cents to $1.80 with a market cap of $30 million which is still small compared to FTT, which has a market cap of $10.4bn or BNB which has a market cap of $58bn.
As a result, traders have been flocking to the exchange and volumes have risen by 100 times indicating a strong appetite from investors to get EQO before the halving happening on June 26th.
Learn more on eqonex.com
AND the UK's FCA has just approved Digivault, which provides institutional investors with a solution that makes digital asset custody simple and secure.
Want to incorporate crypto payments into your business? Definitely use Utrust.
Facebook is NOT a monopoly: according to the judgement passed in the latest anti-trust trial on Monday.
Facebook's stock rallied on the news, taking their valuation above the $1 trillion landmark & sticking two fingers up to the doubters as it did so...
"How can this happen?!" the people cried in outrage.
It's a trillion dollar company so surely it MUST be a monopoly.
Well, that all depends how you define monopoly.
OXFORD DEFINITION: the exclusive possession or control of the supply of or trade in a commodity or service
So, what exactly is it that Facebook has a monopoly over?
Are they 'abusing' their power as an alleged monopoly to outprice others?
Can't have a monopoly over something that's free, bro...
You could allege that Facebook have monopolised online advertising, but Google would probably have a word to say about that...
Herein lies the problem with all of these anti-trust cases.
The laws are archaic. Made for times when these things were tangible.
(more on the Big Tech tangible vs intangible 👇👇👇)
When BT controlled the entire U.K. phone network, the monopoly was obvious.
You had to pay to play.
Now... You don't.
Facebook has a monopoly over social networking?
Tell that to your 'social network' when you meet up in the pub next week
How about 'online' social networking?
In any case, these services are FREE to the consumer.
So what's to be done?
CHANGE THE LAWS!
I hear you, but so do the lobbyists... 👇👇👇
Amending laws might not be the easy solution it seems (at least until there is a red or blue monopoly 😉 across Senate & Congress).
Even if these bipartisan antitrust bills aren't killed by lobbyists, the lawyers will be looking at them the way I look at [CENSORED]
The only true solution is to force them to compete to the death with each other...
We'll call it The Hunger Games for Big Tech (but who gets the streaming rights...?)
It's already started...
Of course, there are other solutions too...
Back on Earth, The Amazon MGM acquisition is to be reviewed by the FTC.
The same issues with the monopoly argument arise.
"Yes your honour. Amazon will clearly have a monopoly power for digital streaming services"
Judge: "Netflix & Disney+ seem to be competing with them pretty well (and Netflix have a larger market share). Case dismissed."
(it might not even make it to court)
More about that Amazon/MGM hookup (and some pretty graphics showing how Big Tech make their money) 👇👇👇
Seriously, the barriers to 'fixing' this are enormous.
With their armies of lawyers and lobbyists, these firms will always be a few steps ahead.
Perhaps it's a lack of imagination on my part, but I don't imagine the governments will truly get ahead of this any time soon, if ever.
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