It looks like venture capitalist Tim Draper has positive sentiment towards the Libra cryptocurrency and its founder Mark Zuckerberg.
Tim Draper Sticks Up for Mark Zuckerberg
Tim Draper has made a real name for himself in the crypto space. He won a huge chunk of Ross Ulbricht’s bitcoin stash in an auction in 2014 and has often offered huge praise for the digital asset. In addition, he has loaded the space with wild – yet intriguing – predictions, stating that the currency would reach the $200,000 mark sometime between the years 2020 and 2023.
In a recent interview, Draper commented that he doesn’t like how the government is treating Libra or Zuckerberg, claiming that Zuckerberg is a “hero” and that U.S. officials were working themselves silly trying to beat him and his company down.
I think it’s a huge mistake because Zuckerberg should be a role model, an icon, somebody that we should all be looking up to and aspiring to be… The schadenfreude government is not appropriate. It’s not the right approach.
Of course, Draper’s words are open to opinions, many of which will be the opposite of how he feels. For one thing, Facebook is not entirely his invention. While he may have turned the company into the social media giant it is today, let’s not forget that it was the Winklevoss Twins who first brought the idea to the market.
Facebook was originally their invention, and Zuckerberg pulled it out from under them, resulting in a massive lawsuit that was first displayed for general audiences in the 2010 film “The Social Network.”
In addition, Zuckerberg may be successful, but it can be argued that he hasn’t always been clean. Aside from the story just mentioned, Facebook was embroiled in scandal in the year 2018 after it had been revealed that the company had been selling users’ private data for years to Cambridge Analytica and other third parties for advertising purposes. This put many people’s trust of Facebook in the trash, and some might argue that the company’s reputation has never been fixed…
Which could be why Libra has gotten off to such a slow start. Facebook has already shown what it’s capable of doing with people’s private information, so the idea that the enterprise now has a new financial branch that will require users to share their monetary data is a little scary to most.
Was It That Big of a Deal?
Nevertheless, Draper dismissed the Cambridge Analytica scandal and acted like it was no big deal in the interview, claiming:
The point is to put your data up there and he’s giving it to you for free, and so he sells ads against it and he uses the data. So what?
He further commented that he felt Zuckerberg and his company were being “unfairly picked on.”