Facebook's Libra Probably Won't Happen, Analyst Pachter Says

The transcript discusses the challenges Facebook faces in launching a currency without the support of the banking system and payment processors. Despite having a large user base, Facebook's efforts are seen as insurmountable without backing from major banks like JP Morgan. The infrastructure needed is beyond Facebook's capabilities, and acceptance at places where Visa and MasterCard are used is crucial for success.

What is the main challenge Facebook faces in launching its own currency?

• Lack of a large user base

• Insufficient technological infrastructure

• Inability to do it alone

• Competition from other social media platforms

What is Facebook's primary asset in its currency initiative?

• Its technological infrastructure

• Its advertising revenue

• Its large user base

• Its partnerships with banks

Why does the speaker believe Facebook cannot succeed without the banking system?

• Because Facebook has no experience in finance

• Because Facebook is not a trusted brand

• Because Facebook cannot build the necessary infrastructure

• Because Facebook lacks a user base

What is necessary for Facebook's currency to be successful according to the speaker?

• More advertising revenue

• A larger user base

• Acceptance by major financial institutions

• Partnerships with other social media platforms

Which financial entities does the speaker mention as crucial for Facebook's currency acceptance?

• Bitcoin and Ethereum

• Google Pay and Apple Pay

• Visa and MasterCard

• PayPal and Stripe