Welcome to Nexus ProRata, where we take just 10 minutes to get you smarter on the collision of tech, business, and politics.

Sponsored by Silicon Valley Bank, Ideas Bank here. I'm Dan Permac. On today's show, WeWork's big decision and an end to the General Motors

Strike. So first, the future of Libra. So this past Monday, a large group of technology

executives gathered in Geneva to put some governance meat on the bones of Libra, the massive

and highly controversial cryptocurrency project spearheaded by Facebook. Lots of companies attended, including

Uber and Spotify, but the meeting was more notable for who wasn't there, a group of big-name

financial services companies that bailed on Libra just days earlier after originally agreeing

to be founding members, companies like PayPal and MasterCard and Visa and Stripe.

It might not have been a death blow for Libra, but it was certainly way more than a flesh

wound and suggested two things.

First, the financial services companies might know something Facebook doesn't about the

road ahead.

And two, the regulatory and political pushback could be much greater than Facebook or

Libra ever initially

anticipated, with some suggesting that the defectors bailed in order to protect their

own standing in Washington, D.C. The big question now is if Libra will be still born or if a 2020

launch remains in the realm of possibility. In 15 seconds, we'll go deeper with Bloomberg

technology reporter Kurt Wagner.

But first, this.

This episode is brought to you by Silicon Valley Bank.

Know everything about coding, but not so much about banking.

For more than 35 years, Silicon Valley Bank has been helping high-growth companies navigate

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