A stable coin like Facebook's Libra is a great idea — it could disrupt a bloated financial services industry that fails to serve the unbanked. But even though Facebook has taken steps to alleviate concerns around its ownership of a coin, the product is dead on arrival with Facebook's brand on it. Scott predicts that another company will copy Facebook's Libra coin and create a truly successful stable coin.
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Scott Galloway is a professor at New York University's Stern School of Business, where he teaches brand strategy and digital marketing to second-year MBA students. A serial entrepreneur, he has founded nine firms, including L2, Red Envelope, and Prophet. In 2012, he was named one of the "World's 50 Best Business School Professors" by Poets & Quants. His weekly YouTube series, "Winners and Losers," has generated tens of millions of views.
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