Zuckerberg makes some interesting comments. I think "their" fear is "losing control". He also noted how every year he takes on a personal challenge to learn something new.
Every year I take on a personal challenge to learn something new. I've visited every US state, run 365 miles, built an AI for my home, read 25 books, and learned Mandarin. I started doing these challenges in 2009. That first year the economy was in a deep recession and Facebook was not yet profitable. We needed to get serious about making sure Facebook had a sustainable business model. It was a serious year, and I wore a tie every day as a reminder. Today feels a lot like that first year. The world feels anxious and divided, and Facebook has a lot of work to do -- whether it's protecting our community from abuse and hate, defending against interference by nation states, or making sure that time spent on Facebook is time well spent.
He noted that one of the most interesting questions in technology right now is about centralization vs decentralization.
For example, one of the most interesting questions in technology right now is about centralization vs decentralization. A lot of us got into technology because we believe it can be a decentralizing force that puts more power in people's hands. (The first four words of Facebook's mission have always been "give people the power".) Back in the 1990s and 2000s, most people believed technology would be a decentralizing force. But today, many people have lost faith in that promise. With the rise of a small number of big tech companies — and governments using technology to watch their citizens — many people now believe technology only centralizes power rather than decentralizes it. There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.
A sell wall is a tool used by a rich individual,or group of rich individuals, to manipulate the price of a stock downwards. A large sell order is set at a specific price by the whale(s) to prevent higher sell orders from executing.
He goes on to explain how it works...
This is best explained as an example. A wealthy person, we will call him Richard, tells a group of his wealthy friends that he wants to make money on a particular stock. This could be for a number of reasons such as:
The stock has a lot of room to grow
The stock can be easily manipulated
The stock has a lot of potential to get big in the near future
Richard and his friends decide that it's a good idea. They all want 1 million of X cryptocurrency. Unfortunately, in the cryptocurrency market Richard and his friends can't execute all the buy orders at once or the prices will skyrocket! To achieve 1 million obtained goal, they decide to set up a sell wall, and manipulate the price downwards. They do this in steps:
They accumulate together. They will maybe get 250,000 of X crypto each. In their specific market, this didn't affect the price that much. Great!
They now set a specific price they feel is low enough for them to be able to reach their 1m X crypto goal. For this particular crypto they decide to all sell their obtained crypto at $2.40.
Now, between Richard and the group, there is >1 million dollars worth of X crypto selling for @2.40 on the market, a seemingly undervalued price.There is SO much volume being sold now, buying pressure cannot eat through that wall in a reasonable time frame - it would take a very high buying pressure to do so.
What also happens next is the key: nobody else can sell above that sell wall price until it's gone. The result? People need to sell lower than the sell wall in order to liquefy their stock. This drives the price downwards. Richard and his friends can now safey all get to their 1m X crypto mark without raising the price exponentially! When they decide to rid their sell walls the price moves up accordingly!