Things Every Entrepreneur Needs to Know as They Start a Business

Starting a business is an exciting time. You have new ideas and fresh energy to pursue them, but before you do, Damon Becnel is sharing things that every entrepreneur needs to know as they start a business:

Understand your industry

This includes understanding the current market conditions for your product or service, what competitors exist in the field, and how you will differentiate yourself from them.

Know how to navigate legal hurdles

You need a business plan that shows potential customers why they should buy into what you are offering and has enough detail so that it can be used as a roadmap of sorts during negotiations with investors or partners/suppliers. This means handling complicated agreements on every front plus having an idea of which direction each aspect is headed towards – something most entrepreneurs don’t realize until years after their company started up. It’s important because contracts often contain language about who owns future rights related to patents, copyright, etc.; you want to ensure that you are protected for future success.

Collaborate with people who have complementary skills

For example, suppose your company is creating a new product. In that case, it may be important to team up with an engineer or other technical person along the way since they know how things work in terms of manufacturing and distribution. This can help protect your interests and give you valuable feedback about any problems associated with the process before too much time has passed.

Ensure regular communication between members within teams

This means having daily meetings/conference calls or weekly face-to-face gatherings where everyone discusses what happened last week, what needs to happen this coming week, and whether anything is holding back from getting their tasks done on time. Without this type of check-in, people can easily get stuck and not help one another since they’re unaware that an important item or task is slowing down progress on a project, etc.

Make sure you have enough cash.

A lack of capital can be detrimental to any company. Your startup needs enough money for operations until it starts generating revenue; this could take up to two years, depending on what kind of product or service you offer.  Things like rent and salaries need to be covered until you prove that the company has a feasible business model.

Maintain an open dialogue with investors

These people want to see progress, so they will require updates on how your startup is doing every month or two; make sure you give them something substantial if they ask for it (i.e., milestones reached/money saved). It’s important because these folks don’t just write checks; many of them also provide tremendous amounts of advice about new ways to expand market share etc., which can help ensure greater success later down the road when things get more difficult.

Build relationships with investors

It’s important to find investors who will give you the money your company needs to get going and people who can offer advice and support when it comes time for growth. This means finding people who can help you scale your company – like bringing on board an experienced team of managers or partnering with other entrepreneurs who have more expertise/knowledge in areas where your startup is weak, etc.

Keep track of all sales data.

It helps identify problems and potential areas where there might be some growth. This could mean opening up new geographical regions or targeting different customer segments from the ones you have been focusing on thus far. So, make sure to keep track of data related to how your startup is doing overtime and take a look at it every few weeks just in case any major changes can be made due to what has been revealed.

Keep an eye out for opportunities.

Even if you follow all these pieces of advice, remember that things change quickly. Therefore, always stay alert for possible improvements or alterations to current practices like expanding into other markets (beyond those you originally thought).  Adding additional products/services to your portfolio could give your company more options when it down to raising prices later on due to increased demand or signing better deals with suppliers. This is because you have a strong customer base and your company’s name is more recognizable in the marketplace due to getting involved first before everyone else jumped on board like the other folks did who are now trying to catch up.

Build long term relationships

As entrepreneurs, we should always be looking for new ways to grow.  However, we also need to maintain existing partnerships/suppliers that can help us achieve those goals since it takes time (and money) to start this process from scratch again after something had over time fallen apart due to lack of communication or mismanagement. This will only set back our plans even further than they already were before anything went wrong. So make sure to keep communication open and maintain a positive working relationship with everyone you work with.

Ensure regular communication between members within teams

This means having daily meetings/conference calls or weekly face-to-face gatherings where everyone discusses what happened last week, what needs to happen this coming week, and whether anything is holding back from getting their tasks done on time. Without this type of check-in, people can easily get stuck and not help one another since they’re unaware that an important item or task is slowing down progress on a project, etc.

Make sure you have enough cash

A lack of capital can be detrimental to any company. Your startup needs enough money for operations until it starts generating revenue; this could take time, so it’s important to have an emergency fund in the bank that can cover expenses until you prove your company has a sustainable business model. If this is not possible, consider pitching potential angel investors or look into borrowing funds from family/friends etc. since there are other options out there that don’t involve giving up control of your company in order for someone else to provide capital in exchange for equity – do what works best for you and be sure to make improvements when necessary by keeping track of all sales data over time!

Keep track of revenue generated

Make sure to keep tabs on how much money comes through the door every day, week, and month. Without this data at our fingertips, it’s difficult to make important decisions about possible changes that need to be made now before things go south due to the lack of resources available for certain tasks, etc. Furthermore, if there are any disputes between members within a team regarding expenses since everyone has their own opinion as to what counts towards overhead costs vs. personal spending, then having concrete statistics will prove which side was right all along.

Use online software or applications to manage your time

Many different tools can help entrepreneurs stay on top of their game when managing issues like sales, marketing, and customer success. Use these useful resources so you don’t have to spend countless hours keeping track of everything manually, which will only slow down your company’s progress even further than they already were before implementing any helpful programs. This will allow you (and other members within the team) more free time outside office walls to focus on what matters for moving forward without overtime having all relevant data at our fingertips. We’ll never be able to make good decisions about how best to spend each day/week/month because we won’t know where we stand regarding revenue generated/sales made etc.

In conclusion, if you follow these rules, you’d find it much easier to start and maintain your business. If followed carefully and correctly, these rules will help you make the right decisions at all times. So be sure to focus on these areas of your company’s management as soon as possible since they are integral to having a business that is constantly moving forward.

5 Top Technology Every Film Production Company Should Be Using

Sam Haskell

Throughout the history of film, technology and innovation have moved hand-in-hand with the artistic process. The Guardian looks at Stanley Kubrick’s “Barry Lyndon” and explains the use of zoom lenses and camera technology taken from NASA provides a style that was once described as glacial by critics but is now a standard part of cinematography. The movement of technology into the film industry is something that has always been and will continue to push the boundaries of filmmaking in the coming years, according to Sam Haskell, on of the top agents in Hollywood.

1. Autonomous Drones

Sam Haskell

Drones have become a major part of the work being done by many film and TV producers in the last decade or so. The ability to capture images from high above the action is vital for creating a sense of space with drones becoming smarter as artificial intelligence is introduced. Autonomous drones are set to become one of the most important pieces of equipment for a filmmaker because they will be able to read the situation and automatically adjust focus, shot width, and height depending on the demands of the filmmakers. By becoming able to think for themselves, drones will grow in importance over the next few years.

2. Digital Technology

Way back in 1999, the release of “Star Wars: The Phantom Menace” was met with confusion by many moviegoers who were unsure of the use of digital technology pioneered by George Lucas. Sam Haskell points out filmmakers including Robert Rodriguez have embraced this format and used it to speed up the shooting process to lower costs. Digital is here to stay because the majority of studios now believe the cost of traditional film is too high to make it worthwhile.

The expansion of digital technology is an area every production company should be investigating as its use to bring deceased performers back to life will be a major trend in the coming years. Again, the “Star Wars” franchise has been pioneering this technology with varying amounts of success. No matter what the thoughts of the individual are regarding bringing back former stars to appear in movies this trend looks to be continuing and growing in importance.

3. 3-D Printing Technology

Sam Haskell

The cost of professional filmmaking equipment is huge and has been the demise of many productions over the years. If we look back at the making of classic movies like “Apocolypse Now” the weather washing away sets and equipment played a huge role in the pain caused for production companies. The investment in 3-D printing technology is a good option for every production company to explore because this can mean the printing of fast, affordable equipment. Lowering costs on the basic pieces of equipment means a production company can be ready with spare pieces of equipment to keep their shoot moving forward.

4. Smartphone Filmmaking

For over a decade, the use of Smartphones to shoot entire movie projects has been touted as the future of the medium. Some have attempted and achieved the completion of entire movies shot on cell phones and the improvement in camera lenses will see this become even more important in the future. Investing in Smartphone technology could be one of the major payoffs for production companies in the future.

5. 3-D Will Return Again

The use of 3-D has always been a controversial aspect of the movie industry with most movie viewers already voting against the use of this technology because of the use of goggles or eyewear. Despite the problems that have long been seen with 3-D technology, there will be a move towards providing more 3-D technology as 4K steps into the ring. Some pioneers in this area have already thrown their hat into the ring with Wired explaining the use of multiple cameras for a single shot. 4K has already begun to be used by streaming services and in limited ways at major sporting events with a move into the movie industry the next logical step.

Sam Haskell has been one of the leading agents for TV producers to turn to for the last few years at the William Morris Agency and believes technology will continue to improve the film industry. Haskell looks back to the 1970s when “The Shining” brought Steadicam into the mainstream and believes many of the latest pieces of technology have the same chance of providing long-term success for filmmakers.

Smart Tech That You’ll Actually Want Invading Your Bathroom

A bathroom remodel Houston gives homeowners the opportunity to bring the latest technology into the most used room in the house. Whether you’re investing in a shower remodel or want to harness the power of Artificial Intelligence, your new remodel will completely transform your bathroom. Read on for the best smart tech to use in your remodel.

1. High Tech Toilets

Most modern bathroom remodels take conservation into consideration. With the latest high tech toilets, you can champion eco-friendliness by using cleansing technologies to eliminate the need for toilet paper. Moreover, with energy-efficient toilets, you can cut down on several gallons worth of water with each flush.

In addition to the new environmentally friendly options available with the latest lines of high-tech toilets, keep an eye out for self-cleaning toilets to use in your bathroom remodel. These toilets can be pricey, but they’re the latest trend in high-tech toiletry and make it easier than ever to keep your bathroom fresh and clean.

2. Touchless Sink Technology

Motion sensor sinks are another option to consider during your bathroom remodel. This touchless technology helps to reduce tap flow, allowing homeowners to conserve water and money. This touchless technology uses integrated tech to determine when hands are no longer under the faucet. In addition to eliminating the potential for leaks, this tech is the perfect option for anyone that may otherwise leave their faucets running.

3. Walk-In Bathtubs

Homeowners that have their eyes on improving their ROI with a bathroom remodel Houston should consider upgrading to walk-in showers. As walk in bathtubs Houston are an upgrade that many homebuyers search for, you would do well to invest in updating your bathtub. By installing walk in bathtubs Houston, you’ll be able to replace your outdated model with a new bath that completely transforms the way you take baths. This new look will liven up your bathroom by upgrading your old tub to a spa-like walk-in tub.

As you consider installing a walk-in tub, think about setting the mood around your tub with mood-enhancing lighting. This lighting is a game-changing addition that will enhance the ambiance in your room.

4. Refrigerated Cabinets

Cooled cabinetry is another high-tech trend taking over homes across the country. With many homeowners opting to store their medicines in their bathrooms, these built-in refrigerated bathroom cabinets will keep all your medicines cool. This will help to protect temperature-sensitive medicine from becoming degraded by improper storage.

In addition to safely storing your medication in the bathroom, this upgraded cabinetry will make it easier than ever to get started with your day. This cabinetry saves you from having to trek to the fridge for your favorite morning drinks. Thanks to your cooling cabinets, you’ll be able to enjoy a cold bottle of water or cold brew while performing your morning routine.

5. Warming Drawers

Homeowners that love the idea of having refrigerated beverages in their kitchen should consider adding towel warmers to their new bath remodel. Few things are better than wrapping up with a hot towel after a long day of work. If you’re a fan of having towels hot from the dryer, add this high tech option to your bathroom remodel. Whether they’re built into your cabinetry or you install heated towel racks, you’re sure to love this new addition.

6. Scales with Fitbit Integration

If you can’t get enough of your Fitbit, consider adding a Fitbit integrated scale to your bathroom. While this new scale will is a minor addition to include in your remodel, it can completely transform your approach to fitness. This type of smart scale uses advanced technology to track your lean mass, weight, percentage of body fat, and more.

7. Waterproof Televisions

With so much of our lives spent in the bathroom, what better way to pass the time than with a waterproof television? This futuristic installation is sure to have a high ROI as many homebuyers consider this addition to be family-friendly and forward-thinking. This waterproof TV is the final way to complete your smart home transformation. Whether you want to watch your favorite shows during a relaxing shower or play your favorite music during a bath, you’ll love having a television so close.

Consider using your upcoming shower remodel to transform your bathroom into a smart one. Keep these seven ideas in mind as you prepare for your bathroom remodel Houston

How To Keep Your Online Privacy Intact

Online privacy is something that everybody should pay attention to, especially if they need to use the internet a lot. However, this isn’t something that many people may look after. Some of this can be driven by the fact that few people know how to do so.

Tech Live Connect doesn’t think that this should be the case. Instead, we believe that online privacy should be as easy as possible to take advantage of. While it may seem like this is an overwhelmingly complicated process, it doesn’t have to be.

In contrast, making sure that your private information stays private online can be much easier than you might think. While there are a variety of ways that you can do this, there are a few that have proven to be much more useful than others.

Use A VPN

Virtual private networks (VPNs) have become increasingly popular over the past few years. The majority of this has been driven by how much protection it can offer the majority of users. Typically, this will provide a significant amount of privacy when you’re browsing the web, which is driven by a few notable traits.

Essentially, a VPN will act as a buffer between your computer and the websites that you visit. As a result, the sites should be able to collect any of your personal information, which is quite a large benefit. There should also be a certain amount of SSL encryption to enhance this.

Encrypt Your Email

Email encryption is an area that has predominantly been used by businesses over the past few years. However, an increasing number of individuals have begun using it, as it can offer quite a large number of privacy benefits. When this is taken advantage of, it should mean that only the sender and recipient can view and read the email.

This should then mean that, even if a hacker can access the data, they shouldn’t be able to read anything. As a result, your emails should be much better protected.

Look For Privacy Indicators On Websites

Many people may not be aware that a large number of websites will have a variety of privacy indicators that they should be on the look out for. As such, you should keep an eye out for a few notable things if you need to input any sensitive information into a site.

One of the more notable of these is that the URL starts with https://, which should also be coupled with a padlock symbol. When you click on the padlock, you should be given a message that states the name of the company and how much encryption the website has. This should help to ensure your privacy.

While each of the above might take a certain amount of time to implement, they should be much more straightforward than you might think. Alongside this, they should make sure that your personal information is kept private when you’re browsing the internet.

It’s often worth making sure that you use each of the above together. While using one will have a variety of benefits, Tech Live Connect recommends that you include use all of them to stay as private as possible

Cyrus Baseghi Was Featured On Rookstool Interviews

Cyrus-Baseghi
Cyrus-Baseghi

In a recent interview on Rookstool Interviews, Cyrus Baseghi was asked about his personal achievement(s). He answered in the following way:

Getting to lead my employees through authority based on respect, not fear. As someone who is in a position of power, it was never my goal to scare people into listening to me. Instead, I wanted to build a bond based on trust and mutual respect. That way, we can communicate more transparently without fearing of what either party truly think. Also, being straightforward with everyone has led to an increase in productivity because my workers do not need to stress about all the projects that are going on. They know that as long as they put in an appropriate amount of effort, missing a few deadlines is not going to make a big difference.

Cyrus Baseghi, Rookstool Interviews

You can read the full interview by visiting: https://www.rookstoolinterviews.com/cyrus-baseghi/

Michael Luisi on Social Media and Film: Two Industries Influencing Each Other

Michael Luisi Social Media

The digital age has brought about a scope of influence like never before. We can all recall just a few decades ago when the internet didn’t exist for the masses, and social media was unheard of. Now, it has become one of the main platforms for people to express themselves, and for businesses to promote their content.

The rise of social media also has profound influence in many industries. For instance, social media has had an impact on the entertainment industry. Since various social media platforms engage with consumers not only through text and pictures but through video, this says a lot about how the motion picture industry works to produce and market content.

According to Michael Luisi, an entertainment executive and producer based in California, there are many ways that social media has brought about change in the motion picture industry and vice versa. In this post, he will be dig into these issues.

Social media as a means to promote new films

We often hear of upcoming films on the big screen through movie trailers on TV, or posters we find in the cinema. However, there is an added platform to look for new trailers, which is through videos on social media.

Most movies have their own accounts or pages run by their digital marketing team. Before a movie’s official release, the marketing team can build anticipation on various social media platforms by making short teasers, promotions, and other forms of content to help build engagement.

According to Michael Luisi, this helps new films gain traction with maximum return on investment. Digital marketing through social media is also a great way for new filmmakers to introduce themselves, as well as promote independent films.

Battling film piracy on social media

We have to approach social media’s influence in the motion picture industry in an objective light. There is an ongoing problem with film piracy when individuals post full length movies on their social media accounts. Although there are measures to help prevent this such as copyright strikes, the problem is not entirely solved.

To help solve this problem, some outlets such as YouTube have subscription services wherein they offer films to watch for a monthly price. There are also various offers where users can watch older films in YouTube for a low price, ranging from $ 0.99 and above.

Film makers can earn more royalties through social media

Previously mentioned is the problem of film piracy in social media. However, this issue is a two-sided coin as there is also an opportunity for film makers to earn more royalties through social media. Users who don’t want to see a film on the big screen can opt to purchase and watch movies on various media platforms, which is revenue for both industries.

This is what some creators call a royalty price. Intellectual property in digital form such as music, text, or in the case of the film industry–videos, can still earn a portion of the income even when people only wish to access it through social media. Previously, royalties can only be earned through CDs, DVDs, and TV subscriptions. Now, film makers can earn more royalties through video sales on social media platforms.

Increased quality of films due to free video platforms

There are many publishers who create free content for their audience. They are ramping up the quality of their work without charging a cent. Overall, this benefits the development of industries as well as the audiences they serve.

People’s preference with convenient media

Along with a preference for free content, some audiences would also prefer staying indoors rather than going to cinemas to be entertained. They may also prefer short types of videos instead of full feature films. This could be considered a disadvantage for the film industry. However, there are solutions to help cater to audiences that prefer convenient media. Netflix, the video subscription giant, took advantage of this growing preference. People can now subscribe to services that feature a library of films and TV series that they can watch at the comfort of their own homes.

Technology also helps recreate the cinematic experience–there are now Smart TVs with highly sophisticated audio and video systems to help people enjoy movies while staying at home.

Lower barrier of entry for film makers

Just a few decades ago, conceptualizing a film and following through the whole plan was costly and time-consuming. You had to pitch your storyline and big idea to major film companies just to get noticed. However, this has changed somewhat with the rise of social media. Filmmakers can now independently publish their own content. They can post media on social media platforms such as Facebook and YouTube. This is an interesting shift in the film industry, lowering the barrier to entry for independent film makers. It is now easier to find talent and provide opportunities for those who show exceptional skills.

Social media themes in films

Another interesting change for both industries is the rise of themes relating to social media. There are now movies that revolve entirely around the use of video and messaging apps, which also mirrors the modern way of life.

Film makers are free to explore themes relating to social media such as online dating, cyber bullying, and internet privacy. They can also inject scenes where social media can be used as a means of communication.

These changes are just a hint of what is to come as film and social media continue to intertwine. Michael Luisi sees more promising developments as technology continues to accelerate with the development of these industries.

How Technology is Shaking Up the Roofing Industry

The roofing industry is booming. Currently valued at $49 billion for the year 2019, the trends have been driven by increasing demand but also the increasing usage of innovative technologies.

A range of roofing services in Tampa, for example, are becoming more efficient and effective through investing in brand new technologies to change the way experienced professionals carry out their work.

Let’s take a look at some of the ways in which technology is shaking up the roofing industry.

Bringing Drones into the Mix

Drone technology has become prevalent in a range of industries. Many Tampa roofing contractors are now using drones in order to measure, visualize, and problem-solve. Not only is this faster but it also reduces the personal risk contractors face every day.

The use of drones within roofing services in Tampa is also offering additional angles so contractors can improve accuracy and boost the overall quality of their work.

With drones creating a $100 billion market opportunity, costs are coming down and the technology is improving, thus making it more accessible to the roofing industry.

The Use of Big Data in Roofing

Big data has been revolutionizing different industries for a few years now. Now it’s time for big data to change the way Tampa roofing companies run their businesses.

One of the primary areas in which big data is having an impact is in helping them improve their supply chain plans.

Granted, this is more relevant to bigger companies, but even independent contractors are able to use big data on a limited scale to ensure their supply chains remain healthy.

Artificial Intelligence for Customized Weather Mapping

Artificial intelligence is perhaps the most exciting new technology of all now available to Tampa roofing contractors.

Florida is the type of state that experiences extreme weather patterns, so roofing contractors must take this into account when installing and repairing roofs.

Artificial intelligence has the potential to create customized weather mapping, so roofing contractors can make better decisions and better advise their clients on the right options for them.

Solar Shingles

Previously, solar roofs were either massively expensive or impractical. But new solar shingles are an alternative to the clunky, ugly solar panels in use today.

They look like ordinary shingles yet come with all the benefits of solar panels, thus enabling families in Florida to take advantage of the year-round sunshine to generate energy.

Going green is becoming an increasing priority for all industries, and this major breakthrough will finally put smart, elegant solar roofs in the hands of average Americans throughout the state.

Expect roofing services in Tampa to increasingly offer these types of roofs in the coming years.

Last Word – Roofing is Getting Better and Better

It’s clear that new technology is enabling the roofing industry to get better and better. By improving the quality of work, making the lives of contractors easier, and giving families more choices, the roofing industry is only expected to grow year-on-year.

What do you think is the most exciting new technology shaking up the roofing industry?

Everything You Need to Know About BusPatrol’s Smart Buses

buspatrol smart school bus

At BusPatrol, they’re always on the lookout for new and innovative ways to get your children to school in a safe and timely fashion. They’re creating exciting innovations in transportation nearly every day.

Their marquee solution is the Smart Bus. These vehicles are a safe and high-tech method for ensuring that your children get to their destination safely each time they leave for school.

There is a lot to keep in mind, however. They’re improving their technology every day, so there are always new features and safety measures being added to these smart vehicles

Keep reading for an in-depth breakdown of all the must-know information regarding BusPatrol’s Smart Buses and how they can impact the way your children receive their education.

What is a smart bus?

A smart bus is a bus outfitted with a suite of technology dedicated to making sure your child gets to school safely. This technology interfaces with a complex web of other technologies, like GPS signals, security cameras, and cellular modems.

All of these different pieces of tech work together to cultivate the safest environment possible for your child. They also optimize the traveling experience, which means your child will be able to get where they need to go faster.

BusPatrol’s Smart Buses connect with a complex interface in real-time, which allows their experts to monitor its location. Cameras located on the bus’ exterior also allows BusPatrol to capture bad actors. This technology lets them capture the license plates of those who speed, illegally pass the bus, and ignore stop signs. This information is then sent in to the authorities, making the road safer for both you and your child.

Best of all, this information can be processed instantaneously using cutting-edge, Cloud-based technology to instantly deliver information like license plate numbers to the authorities. Likewise, should an accident occur, GPS monitoring capabilities allow buses to send help to the scene instantly.

This technology is instrumental in making substantial improvements to the way we protect our children in the future. The system is a highly complex network of interactions between BusPatrol systems, GPS networks, and the local authorities.

Smart Bus technology allows these buses to ensure your child is as protected as possible during their morning commute.

How do they monitor driving behavior?

Smart Buses are monitored in a variety of methods. Each is carefully designed to ensure access to all the necessary information to make improvements to the systems and to take appropriate action in worst-case scenarios.

To start, the cameras on BusPatrol Smart Buses are always active. That’s right: always. As soon as the bus is put into motion, the cameras located both inside and outside of the bus are activated. As you may have guessed, this gives access to a comprehensive view of any potential dangers that may present themselves.

The footage recorded by these cameras is instantaneously transmitted via a cellular LTE network. A team of driven, passionate individuals monitor the information sent by these buses whenever a child is secured inside one of our vehicles.

The stop-arm located on the side of the bus is a huge part of the process. Once the arm extends, the Smart Bus systems send every bit of relevant data to a processing center. Systems will automatically store all recorded events for a minimum of seven days, which means there will always be access to crucial information concerning your child’s safety.

Cameras serve another crucial function: they encourage bus drivers to be on their best behavior. Any inappropriate actions, like ignoring traffic signals and taking illegal turns, will be instantly noted by the support team. Should this kind of behavior become a pattern, BusPatrol will ensure that a new driver is provided as soon as possible. Violations are sent both to the school employing the driver and to the local authorities.

Are Smart Buses the future of school-age transportation?

Absolutely. As technology becomes more and more advanced, we owe it to our community to ensure that it is used effectively and responsibly.

Smart Buses have already been adopted by several school districts, and the feedback has been overwhelmingly positive. BusPatrol hopes to service your community, and more importantly, your children, as soon as possible.

Saleh Stevens Discusses Why They Will Be Trouble if Facebook’s Currency Succeeds

Facebook is a company that doesn’t exactly have the public’s trust right now. Mark Zuckerberg recently went to trial over the fact that Congress believed Facebook to be auctioning off our private data to companies. Facebook is a web-based app that is integrated into all of our lives. We log into it daily to talk to our friends and family. There have been other elements of Facebook that have been developed to keep us hooked on the platform. However, finance expert Saleh Stevens believes that nothing is as dangerous as Facebook creating its own currency.

Understanding Facebook’s Desire to Expand

Cryptocurrency is a type of currency that can be used online. It is not hindered by region and can be used by most major retailers online. However, Facebook has decided that it wants to enter the cryptocurrency game. It has been reported that Facebook is beginning to develop its own Libra cryptocurrency. This new currency would be used by over a billion people around the world. While the intentions may be good, there may be other problems that will arise if we end up accepting this new form of currency.

The Issues With Facebook’s Cryptocurrency

The main problem that comes to mind whenever we think about this issue is control. Big tech companies have been working diligently to free us away from government control. However, the problem lies in the fine print. Saleh Stevens believes that these large tech companies can then subjugate the individuals who use their cryptocurrency to do as they please. Though government intervention is a hard pill to swallow, nothing is as bad as a bunch of tech companies doing what they want without regulation.

Cryptocurrency Isn’t Regulated

Bitcoin is currently not regulated by any government system. While this is something that many cryptocurrency enthusiasts enjoy, it can become a major problem if it goes mainstream. A cryptocurrency that is not being regulated can cause major fluctuations in the online market. This can hurt individuals that end up putting all of their investments into a brand new cryptocurrency. However, this isn’t even the worst part of it all.

Tech Companies and The Search for Power

As mentioned previously, tech companies can reshape the environment around them as they see fit if this cryptocurrency goes live. Big tech companies can get away with crimes since they aren’t being regulated. They will not face accountability for their actions either. Libra, the cryptocurrency being developed by Facebook, is being handled by a currency organization known as Calibra. This is a subsidiary group that Facebook is creating to help regulate its own currency. However, this can present major problems on its own. How can we trust Facebook to regulate something when it only has its own interests in mind?

A Hard Sell

While we may fear a financial apocalypse, many people are still skeptical of cryptocurrency. Bitcoin is only used by 7.1 million people around the world. This is a considerably small number when compared to the general population. We can only trust the skepticism of the general population to reject Libra and not use the cryptocurrency being provided by Facebook. However, currencies do take time to develop. We hope that people can see the dangers of an unregulated currency and how it can only benefit big tech companies.