Fidji Simo, the head of Facebook's flagship app. Photo by Angie Silvy
Subscriber Summit
Facebook

Facebook Exec Says Regulatory Scrutiny Makes Acquisitions ‘Really Hard’

By  |  Oct. 17, 2019 12:07 PM PDT
Photo: Fidji Simo, the head of Facebook's flagship app. Photo by Angie Silvy

One of Facebook’s top executives, Fidji Simo, downplayed recent defections from the group it formed to run its controversial Libra digital currency, while also acknowledging that growing regulatory scrutiny of Facebook has made it harder to acquire other companies.

Simo, one of CEO Mark Zuckerberg’s direct reports who oversees Facebook’s flagship app, said that recent departures of companies like Visa, Mastercard and PayPal from the Libra Association weren’t a surprise given the regulatory challenges the project faces.

“We knew that some members were not going to be here for the entire journey,” she said at The Information’s annual subscriber summit, held in Menlo Park, Calif., on Thursday. “This is going to be a road that’s really hard.”

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The Weekend Crypto Policy
The Information Weekend Does Wyoming, Featuring the Tech Transplant’s Guide to Cowboy Living, an Intro to Crypto’s Favorite Senator, and a Glimpse of the Great DAO Land Grab
Art by Haejin Park.
Hi, welcome to your Weekend: Special Wyoming Edition!Why devote a whole issue to Wyoming, you ask? Because the smallest state in the union has been been playing an outsized role in tech lately, writing laws that encourage the growth of cryptocurrencies, DAOs, and other instruments that are at the forefront of Silicon Valley innovation right now. Forget Miami and Austin; crypto companies like...
Latest Briefs
 
States Appeal Loss of Antitrust Case Against Facebook
Netflix Raises Prices in U.S., Canada
Startup Orca Security Finds Critical Flaws in AWS Cloud Services
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Illustration by Danielle Davis.
Decamped Venture Capital
A Venture Capitalist Found “Cowboy Self-Reliance” in Wilson, Wyoming
I n this week’s Decamped , we chat with Wesley Chan, a former general partner (and current board partner) at Felicis Ventures and the founder of Google Analytics and Google Voice.
Y Combinator president Geoff Ralston. Photo by Wikigeoff2021
News Analysis Venture Capital Startups
Y Combinator’s New Deal Sparks Fear in Seed Investors
Y Combinator’s change to the deal terms it grants startup founders has given the famed startup accelerator more firepower than ever.
Illustration by Jesús Escudero
Relocation Kit Travel Real Estate
So You’re Moving to Wyoming—Here’s Your Tech-Scene Starter Kit
Once the Wild, Wild West (or, really, just a fancy ski destination), the state of Wyoming is now a popular relocation destination for tech and venture capital entrepreneurs lured there by wide open spaces and world-class skiing.
Art by Mike Sullivan.
Crypto Cowboys Crypto Real Estate
Their First Rodeo: Why Are DAOs Suddenly Leaping Into Wyoming Real Estate?
Should we buy this town?” The tweet, accompanied by a link to a Zillow listing for a $4.7 million abandoned ghost town in Colorado, was almost certainly a joke—but then again, maybe not.
Art by Mike Sullivan
Exclusive Crypto Venture Capital
Crypto Talent Wars Fuel Sweeter Salaries, Better Perks for Employees
It used to be that crypto startups could count on their missionary appeal to woo and retain top-notch talent, along with the possibility of a big payoff from tokens and equity they doled out to employees.
Art by Shutterstock; Mike Sullivan
Opinion Startups E-commerce
Stop Trying to Make Instant Delivery Happen
The on-demand goalpost is always moving. Gone are the days when two-day Amazon delivery was a marvel.