WEBVTT - Bloomberg Businessweek Weekend - October 20th, 2023 0:00:01.360 --> 0:00:05.680 This is Bloomberg business Week inside from the reporters and 0:00:05.880 --> 0:00:09.440 editors who bring you America's most trusted business magazine, plus 0:00:09.520 --> 0:00:13.680 global business finance and tech news. The Bloomberg Business Week 0:00:13.720 --> 0:00:19.000 Podcast with Carol Messer and Tim Stenebeck from Bloomberg Radio. 0:00:20.079 --> 0:00:23.520 Hi, everyone, Welcome to the Bloomberg Business Week Weekend Podcast. Well, 0:00:23.560 --> 0:00:26.880 a big week of economic data and FED insights, coinciding 0:00:26.880 --> 0:00:30.240 with the first major spate of third quarter earnings, and 0:00:30.320 --> 0:00:33.519 yet safe to say, Tim, it was all overshadowed rightfully so, 0:00:33.680 --> 0:00:36.000 by the ongoing violence in the Middle East, with the 0:00:36.040 --> 0:00:38.800 Israel Hamas war now two weeks old. 0:00:39.360 --> 0:00:41.199 That's right, and I head this hour. We're going to 0:00:41.200 --> 0:00:44.320 be looking at the conflict from multiple angles, including a 0:00:44.360 --> 0:00:48.080 conversation with a former Israeli Special Forces soldier turns Silicon 0:00:48.120 --> 0:00:51.800 Valley entrepreneur Leoris Susan of Eclipse Ventures says he loves 0:00:51.800 --> 0:00:54.920 the Palestinian people and offers his views on how true 0:00:54.920 --> 0:00:57.240 peace can actually be achieved in the region. 0:00:57.360 --> 0:00:59.480 We'll also here from the head of software solutions from 0:00:59.520 --> 0:01:04.920 Cohesia on how geopolitical instability is impacting the Israeli tech sector. Meantime, 0:01:04.959 --> 0:01:08.080 we saw President Joe Biden make a brief but impactful 0:01:08.160 --> 0:01:11.600 visit to Israel this past week, somewhat controversial, I would 0:01:11.640 --> 0:01:14.560 say as well. He then delivered a primetime address from 0:01:14.600 --> 0:01:18.080 the White House Thursday, as Washington looks to maintain its 0:01:18.120 --> 0:01:20.520 strong support of Israel while also hoping to keep the 0:01:20.600 --> 0:01:22.160 violence from escalating further. 0:01:22.520 --> 0:01:24.440 The Israel and Moss conflict has put an end, at 0:01:24.480 --> 0:01:26.520 least for now, to a hopeful narrative of what was 0:01:26.560 --> 0:01:29.360 supposed to be a quote new Middle East, one that 0:01:29.560 --> 0:01:32.880 ended old enemities between Israel and the Arab world in 0:01:32.920 --> 0:01:35.640 the pursuit of stability, and is now looking like something 0:01:35.680 --> 0:01:39.600 else that's horribly familiar, and things may only get worse, Carol. 0:01:39.520 --> 0:01:41.880 Perhaps more so so, writes Sylvia Westall in the Remark 0:01:41.959 --> 0:01:44.360 section of the new issue of Bloomberg Business Week. Lots 0:01:44.360 --> 0:01:46.120 of talk about back with us as Bobby Ghost, He's 0:01:46.120 --> 0:01:47.440 Bloomberg opinion columnist. 0:01:47.680 --> 0:01:48.600 He covers culture. 0:01:48.640 --> 0:01:50.640 But you know, as a reminder, he spent many years 0:01:50.680 --> 0:01:54.000 covering foreign affairs, particularly from conflict zones in the Middle East, 0:01:55.000 --> 0:01:58.280 so much that he understands about the Middle East and 0:01:58.320 --> 0:01:59.120 the conflicts there. 0:01:59.160 --> 0:02:00.760 Bobby, good to have you back with us. 0:02:01.720 --> 0:02:06.000 A lot to try and keep abreast of Having said that, 0:02:06.040 --> 0:02:08.640 Sylvia Westol writes in the remark section and asks, can 0:02:08.680 --> 0:02:10.520 there ever be peace with the Palestinians? 0:02:10.840 --> 0:02:11.280 Can there? 0:02:12.040 --> 0:02:15.320 Well, it's a question that I've been asking myself for 0:02:15.360 --> 0:02:18.280 the best part of three decades now, and every time 0:02:18.720 --> 0:02:22.200 there seems even the slimmest hope that there might be 0:02:22.280 --> 0:02:25.639 some movement in that direction, something like what we've seen 0:02:25.720 --> 0:02:29.000 happen over the past eight or nine days happens and 0:02:29.080 --> 0:02:33.040 pushes that prospect back even further. The one thing we 0:02:33.160 --> 0:02:38.560 can say without any doubt now after trying for twenty 0:02:38.600 --> 0:02:41.400 five years that violence is not going to bring peace, 0:02:42.080 --> 0:02:47.880 that the statusco of Israel keeping Palestinians essentially cooped up 0:02:47.960 --> 0:02:51.200 in the world's largest prisoners some people have described it 0:02:51.760 --> 0:02:55.680 of Gaza. M that's not going That's not the solution. 0:02:56.600 --> 0:03:00.680 Other solutions ought to be tried. The idea of a 0:03:01.560 --> 0:03:06.480 nation two nation states living cheek by jow has been 0:03:06.520 --> 0:03:09.040 brought up every now and again, but has never really 0:03:09.080 --> 0:03:13.400 been given a chance to flourish. I think after the 0:03:13.440 --> 0:03:16.920 events that we are seeing unfold now, and it'll be 0:03:16.960 --> 0:03:20.240 a while before they've fully played out, perhaps we need 0:03:20.280 --> 0:03:20.880 to go back to. 0:03:20.840 --> 0:03:21.720 Trying that one. 0:03:21.960 --> 0:03:24.240 What would that look like, Bobby, Well, that would look 0:03:24.320 --> 0:03:27.760 like Palestinians having a bigger say in their future, having 0:03:27.800 --> 0:03:29.880 something like a state. That would look like the deal 0:03:29.919 --> 0:03:33.280 that was agreed between the two sides in the Oslo Accords. 0:03:33.320 --> 0:03:37.120 But for many reasons, and both sides have plenty of 0:03:37.320 --> 0:03:41.680 blame to share, never really got off the ground, never 0:03:41.760 --> 0:03:44.960 really got off the pages of the documents that was signed. 0:03:45.000 --> 0:03:48.080 It's increasingly complicated in this day and age, with settlements 0:03:48.280 --> 0:03:52.840 moving into the West Bank and also with the way that, 0:03:53.040 --> 0:03:56.120 as you mentioned, for the last at least fifteen years, 0:03:56.160 --> 0:03:57.240 Garsins have been treated. 0:03:57.640 --> 0:03:58.279 Yeah. 0:03:58.400 --> 0:04:02.960 Yes, the settlers complicated, think complicate things. Hamas sort of 0:04:03.000 --> 0:04:08.480 turning into a full blooded terrorist organization greatly complicates things. 0:04:09.520 --> 0:04:12.360 We were hoping that some of the deals that Israel 0:04:12.400 --> 0:04:15.880 has made with other Arab countries might help, and that 0:04:15.960 --> 0:04:18.839 hope was predicated on the notion that those Arab countries 0:04:19.160 --> 0:04:24.360 might now have greater influence on Israel's treatment of the Palestinians, 0:04:24.400 --> 0:04:26.520 but that has turned out not to be the case. 0:04:27.440 --> 0:04:29.680 Secretary of State Anthony Blincoln has said that Israel has 0:04:29.680 --> 0:04:31.600 the right to defend itself and ensure that this never 0:04:31.720 --> 0:04:35.440 happens again. President Biden has also made some comments to 0:04:35.480 --> 0:04:39.159 this effect. The Secretary of State said, how Israel does 0:04:39.160 --> 0:04:39.760 this matter? 0:04:40.520 --> 0:04:43.240 Oh, yes, it absolutely matters. President Biden has also made 0:04:43.240 --> 0:04:47.880 the case that as a democratic country, rather than as 0:04:47.880 --> 0:04:51.479 a terrorist organization, Israel must be held to much much 0:04:51.560 --> 0:04:55.280 higher standards than Hamas. It's not enough to say that, well, 0:04:55.320 --> 0:04:57.960 Hammas did this, and therefore it's okay for Israel to 0:04:57.960 --> 0:05:03.040 do that. Well is a member of the United Nations, 0:05:03.040 --> 0:05:08.200 of the Committee of Nations, and therefore is has to 0:05:08.279 --> 0:05:11.880 meet a higher bar, which is very difficult at this moment. 0:05:12.000 --> 0:05:15.120 We remember those of us who are old enough, We 0:05:15.200 --> 0:05:20.360 remember how this country felt like after nine eleven. You know, 0:05:20.440 --> 0:05:23.960 the rage and the desire for vengeance. 0:05:24.080 --> 0:05:25.279 Eye for an eye and I. 0:05:25.400 --> 0:05:28.400 For an eye And what does that do? Makes the 0:05:28.400 --> 0:05:31.200 whole world blind in the long run. And that's the 0:05:31.720 --> 0:05:35.719 It's very hard at this moment for Israel's friends, including 0:05:35.760 --> 0:05:39.960 President Biden, to council peace. But that's what friends have 0:05:40.040 --> 0:05:43.479 to do. I've said this before. Friends don't let friends 0:05:44.120 --> 0:05:45.240 commit war crimes. 0:05:46.640 --> 0:05:49.880 I'm curious about your thoughts on President Biden's trip, Bobby, 0:05:50.040 --> 0:05:52.520 I was surprised to see a sitting president go into 0:05:52.520 --> 0:05:56.440 a war zone such that Israel and Gaza are right now, 0:05:57.279 --> 0:05:59.720 even if for such a short time, even though security 0:05:59.720 --> 0:06:03.200 pers were taken, but it was also struck by the 0:06:03.240 --> 0:06:06.400 way that the Arab meetings were canceled with President Biden. 0:06:06.960 --> 0:06:07.840 What's the effect of that. 0:06:08.240 --> 0:06:11.600 Well, it means that his trip had to be curtailed, 0:06:11.640 --> 0:06:15.680 and he went out there to achieve a few things. 0:06:16.640 --> 0:06:19.440 Some of those things were not achievable if he didn't 0:06:19.760 --> 0:06:23.000 sit across the table from the King of Jordan, the 0:06:23.040 --> 0:06:27.560 President of Egypt, and the head of the Palestinian authorities 0:06:27.600 --> 0:06:32.279 when they backed off because of last night's bombing explosion, 0:06:32.400 --> 0:06:35.680 i should say, in the hospital in Gaza, when they 0:06:35.720 --> 0:06:38.920 backed off, the objectives that he had from that part 0:06:38.960 --> 0:06:43.120 of his trip simply went out the window. Now it 0:06:43.200 --> 0:06:45.680 was a short trip, it was, as you say, a 0:06:45.760 --> 0:06:51.640 dramatic demonstration of America's support for Israel. He didn't come 0:06:51.640 --> 0:06:54.320 back empty handed. He came back with an Israeli commitment 0:06:54.560 --> 0:06:59.520 for humanitarian aid to be sent into Gaza from the 0:06:59.520 --> 0:07:03.400 Egyptian side, obviously not from the Israeli side. We'll see 0:07:03.480 --> 0:07:07.200 how long the Israelis hold up their end of the bargain. 0:07:08.360 --> 0:07:11.760 We don't know what we may not know everything that 0:07:11.880 --> 0:07:15.800 was said in the off camera conversation that he had 0:07:15.840 --> 0:07:18.840 with bb netan Yahoo. Perhaps there was a discussion about 0:07:20.440 --> 0:07:26.360 holding back Israel's ground invasion and I imagine and actually 0:07:26.440 --> 0:07:29.040 he has set this out in the open that Israel 0:07:29.080 --> 0:07:32.040 should regard what the US did after nine to eleven. 0:07:32.080 --> 0:07:36.160 As we were just saying as a cautionary tail, don't 0:07:36.200 --> 0:07:39.560 go in without a plan. Remember that the world's sympathy 0:07:40.320 --> 0:07:44.680 can vanish very quickly. And remember that there are civilians, 0:07:44.800 --> 0:07:47.920 play ordinary human beings on both sides who are caught 0:07:48.000 --> 0:07:48.640 up in the middle of. 0:07:48.520 --> 0:07:51.320 The right there are extended costs to all those moves. Hey, 0:07:52.520 --> 0:07:55.360 you have an opinion piece out about Hollywood release and 0:07:55.400 --> 0:07:58.920 it's about the iconic Israeli Prime Minister golled to my 0:07:59.000 --> 0:08:03.520 ear to coincide loosely right with the fiftieth anniversary of 0:08:03.560 --> 0:08:06.800 the Yam Kippore War. How is it kind of watching 0:08:06.840 --> 0:08:10.640 that and then a movie but obviously based on real things, 0:08:10.640 --> 0:08:12.200 and then seeing what's going on currently. 0:08:12.600 --> 0:08:15.320 It was very, very strange to see that movie. You know, 0:08:15.440 --> 0:08:18.760 I've read so much about Goldemeyer and the Yam Kippour War, 0:08:19.160 --> 0:08:21.119 so It was always going to be a little odd 0:08:21.160 --> 0:08:23.040 to see that movie, but to see it happen right 0:08:23.080 --> 0:08:26.680 now while this war is raging, and we can make 0:08:26.920 --> 0:08:31.280 an educated guest that Hamas intended that invasion to coincide 0:08:31.280 --> 0:08:34.240 with the fiftieth anniversary of the Yom Kippo War, just 0:08:34.240 --> 0:08:37.880 as the makers of this movie intended its release to 0:08:37.920 --> 0:08:40.640 coincide with that war. It felt very strange to be 0:08:41.200 --> 0:08:45.280 watching that, and I kept trying to imagine how much 0:08:45.320 --> 0:08:49.319 of what I was seeing was echo was being echoed 0:08:49.360 --> 0:08:52.160 in the halls of power in Israel right now? How 0:08:52.240 --> 0:08:56.839 much was Bibi Netan Yahoo going through what Goldemeyer did. 0:08:56.840 --> 0:09:00.360 Now there are two very different characters. Their place history 0:09:00.400 --> 0:09:03.559 is very different, but they are facing in some ways 0:09:04.240 --> 0:09:10.040 exists very very difficult moments, great threats to their country, 0:09:10.120 --> 0:09:12.720 and they're very controversial characters amongst their own people. 0:09:12.800 --> 0:09:15.120 I keep thinking of, you know, what's past is prologue, 0:09:15.120 --> 0:09:19.640 and like, are we in any way learning from the 0:09:19.679 --> 0:09:23.480 pastor And I don't know, are we well se in 0:09:23.520 --> 0:09:25.920 the Middle East where there's so many tensions, and certainly 0:09:25.960 --> 0:09:28.200 between Israel and Palestine in. 0:09:28.120 --> 0:09:32.800 This case, the big sort of common factor between fifty 0:09:32.840 --> 0:09:36.240 years ago and now is complacency on the intelligence front. 0:09:36.880 --> 0:09:41.199 The war in nineteen seventy three began when the Israelis 0:09:42.160 --> 0:09:47.440 had gotten very complacent about their ability to eavesdrop on 0:09:47.840 --> 0:09:52.679 the Egyptians. And what happened this time the Israelis got 0:09:52.720 --> 0:09:55.520 very complacent about how much they knew was going on 0:09:55.600 --> 0:09:56.640 inside of Hamas. 0:09:56.920 --> 0:10:00.800 It's unbelievable. Thank you as always give us some very 0:10:00.800 --> 0:10:03.559 deep insight into everything that's going on. Of course, Bobby Ghosh, 0:10:03.600 --> 0:10:05.560 columnist covering culture for Bloomberg Opinion. 0:10:05.559 --> 0:10:09.360 But you're listening to the Bloomberg Business Week podcast. Catch 0:10:09.400 --> 0:10:12.720 us live weekday afternoons from three to six Eastern Listen 0:10:12.840 --> 0:10:16.319 on Bloomberg dot com, the iHeartRadio app, and the Bloomberg 0:10:16.360 --> 0:10:19.559 Business app, or watch us live on YouTube. 0:10:20.080 --> 0:10:22.040 Yeah, very pleased. Up with us this afternoon. Lee Or 0:10:22.080 --> 0:10:25.400 Susan a former special forces agent for the Israeli military, 0:10:25.679 --> 0:10:28.760 also the founder and managing partner of Eclipse Ventures. It's 0:10:28.880 --> 0:10:30.920 a VC firm that invests in, as they note on 0:10:30.920 --> 0:10:35.200 their website, quote entrepreneurs rebuilding the world's physical industries. Leor 0:10:35.280 --> 0:10:38.320 joins us this afternoon on Zoom from Palo Alto, California. 0:10:38.440 --> 0:10:40.640 Lee are good to have you with us this afternoon. 0:10:41.640 --> 0:10:44.199 Just give us your view over the last week as 0:10:44.200 --> 0:10:47.600 somebody who served as a special forces agent in the 0:10:47.640 --> 0:10:51.200 Israeli military and how you're watching what's going on in 0:10:51.240 --> 0:10:52.160 Israel and Gaza. 0:10:53.720 --> 0:10:56.040 Thank you, folks, thanks for having me, and first of all, 0:10:56.160 --> 0:10:59.200 sending my pros to all of the families that lost 0:10:59.240 --> 0:11:03.000 the lot of ones on both sides. I was start 0:11:03.080 --> 0:11:07.119 by saying, people are talking about the Israeli Palestinian conflict, 0:11:07.600 --> 0:11:12.199 they must zoom out. This is not an Israeli Palestinian conflict. 0:11:12.320 --> 0:11:15.040 We are talking about the Western world fighting against the 0:11:15.120 --> 0:11:19.760 all It's not a coincident that the Hamas opened that 0:11:20.400 --> 0:11:24.120 terrible terror attacks on Israeli when the Saudiast was ready 0:11:24.120 --> 0:11:30.440 to sign historical peace process with Israel. That will change 0:11:30.480 --> 0:11:33.560 the Middle List. Look what happening in the Middle List 0:11:33.640 --> 0:11:37.920 with the golf countries, with Ue, with Egypt, with Jordans. 0:11:37.960 --> 0:11:40.520 There is a prosperity, There is a new way of 0:11:40.640 --> 0:11:44.840 living next to each other's focusing on building companies, focusing 0:11:44.920 --> 0:11:49.120 on innovation, focusing on technology. The reason that this war 0:11:49.240 --> 0:11:54.000 start is someone is feeling uncomfortable having peace in the 0:11:54.040 --> 0:11:57.200 Middle List, and it's connect to China, and it's connect 0:11:57.280 --> 0:12:00.000 to Russia, and of course it's connect to Iran. 0:12:00.760 --> 0:12:04.360 Do you see a way forward that though ultimately where 0:12:04.559 --> 0:12:07.559 I don't want to say capitalism, but a better economic 0:12:07.720 --> 0:12:10.400 way for more actually wins out. 0:12:11.000 --> 0:12:13.640 There is no any other way around. Israel is not 0:12:13.679 --> 0:12:16.719 going anywhere, and the Palestinian is not going anywhere. We 0:12:16.840 --> 0:12:20.400 must find a way to live in peace next to 0:12:20.440 --> 0:12:25.040 each other, and there is zero chance that that's will happening. Well, 0:12:25.120 --> 0:12:30.280 a radical told organizations like comas controlling Gaza because they 0:12:30.360 --> 0:12:34.120 say actually on their foundation that their mission in the 0:12:34.160 --> 0:12:37.240 world is to wipe Jews in Israel is from the map. 0:12:37.320 --> 0:12:40.120 That's the only thing they believe in death, you cannot 0:12:40.120 --> 0:12:43.360 do business with people that wants you to die. But 0:12:43.800 --> 0:12:47.439 from a fundamental point of view, I love the Palestinians 0:12:47.480 --> 0:12:50.960 and have a lot of Palestinians friends, and we want 0:12:51.080 --> 0:12:54.960 to live next to each other in peace, focusing on 0:12:55.080 --> 0:12:59.880 building the next technology that will kill cancer. As someone 0:13:00.080 --> 0:13:03.480 that served and so the pain of war, there is 0:13:03.520 --> 0:13:06.079 nobody more incentive than I to go and fight against 0:13:06.120 --> 0:13:08.840 the hostail organizations to make sure that we can go 0:13:08.880 --> 0:13:11.640 and focusing on prosperity rather than fighting. 0:13:13.160 --> 0:13:16.840 You served in the Special Forces for the Israeli military. 0:13:17.600 --> 0:13:21.480 We see many many people going back to Israel to 0:13:21.559 --> 0:13:25.000 serve once again, as hundreds of thousands have been called up. 0:13:25.880 --> 0:13:28.400 Have you been called up? Are you going back? 0:13:30.600 --> 0:13:33.840 Unfortunately, I don't have the clearance that it's required anymore 0:13:33.880 --> 0:13:36.400 to solve for my country because I live in the 0:13:36.480 --> 0:13:40.560 United States for more than a decade. All of my 0:13:40.679 --> 0:13:43.640 friends wants me to be here right now to focusing 0:13:43.679 --> 0:13:46.640 and explaining the world that this is not a word 0:13:46.720 --> 0:13:50.040 between the Israeli and the Palestinian This is a war 0:13:50.120 --> 0:13:54.600 between democracy and a radical world, a radical that don't 0:13:54.600 --> 0:13:56.920 believe a freedom of speech, that don't believe a freedom 0:13:57.559 --> 0:14:01.319 of religion, and don't believe in prosperity and building businesses. 0:14:01.720 --> 0:14:05.880 So unfortunately, I need to serve my country from Palata 0:14:05.960 --> 0:14:06.400 right now. 0:14:06.640 --> 0:14:07.440 So talk to us. 0:14:07.480 --> 0:14:09.400 Though, I thought Lea, what was interesting, because I do 0:14:09.440 --> 0:14:12.160 think that many think it is a war between it 0:14:12.240 --> 0:14:18.080 is between Israel and Hamas. But I think there's a 0:14:18.120 --> 0:14:22.280 feeling too of conflict between Israel and Palestine or Palestinians. 0:14:22.640 --> 0:14:25.680 You say you work with them, talk to us about 0:14:25.760 --> 0:14:28.760 in your in your role as a founder of Eclipse Ventures. 0:14:29.760 --> 0:14:32.680 I'm assuming you're investing in all kinds of businesses. Talk 0:14:32.680 --> 0:14:34.600 to us little bit about that relationship that you are 0:14:34.640 --> 0:14:37.800 having with Palestinians. 0:14:38.120 --> 0:14:41.120 Yeah, let me give you a sad story of a 0:14:41.160 --> 0:14:44.600 close friend. His name is Al Waldman, and he was 0:14:44.640 --> 0:14:47.520 the founder of a company called Melanox that sold in 0:14:47.560 --> 0:14:51.200 a couple of billions of dollars to in Nvidia. Eyal 0:14:51.480 --> 0:14:55.240 was the first one to establish an RND centers in 0:14:55.360 --> 0:14:59.320 the West Bank as well in Gaza software engineers who 0:14:59.360 --> 0:15:02.280 support mel Ox, and trust me, he didn't receive a 0:15:02.280 --> 0:15:04.760 lot of love from the right wings in Israel by 0:15:04.800 --> 0:15:08.640 doing that. And he employed thousands of people in the 0:15:08.640 --> 0:15:11.680 West Bank and Gaza that will do software development for 0:15:11.760 --> 0:15:14.040 him because like me, he believed that the only way 0:15:14.520 --> 0:15:17.520 to fight the old is true business and true friendship. 0:15:18.480 --> 0:15:22.680 Ayal's daughter was one of those kids that being slaughter 0:15:22.840 --> 0:15:26.520 in that music festival. So how ironic is that that 0:15:26.600 --> 0:15:29.680 his daughter that was twenty three years old dance and 0:15:29.840 --> 0:15:35.120 music festival got slaughtered by Ramastel, while Ayal is the 0:15:35.160 --> 0:15:39.360 one that employed thousands of people on the Palestine inside. 0:15:40.800 --> 0:15:45.120 There's no words, There's absolutely no words. And I guess 0:15:45.200 --> 0:15:47.920 what I wonder too, is you know we think about 0:15:47.920 --> 0:15:52.240 this a lotly, or that we think finding an economic 0:15:52.320 --> 0:15:55.800 way out of things or capitalism ultimately will. 0:15:55.640 --> 0:16:01.119 Prevail and it lead it to a better way for everyone. 0:16:02.520 --> 0:16:03.960 Is I guess what? 0:16:03.960 --> 0:16:06.080 We're just trying to figure out that there's been conflict 0:16:06.120 --> 0:16:08.680 in this region, in this area in particular, for such 0:16:08.720 --> 0:16:11.880 a long time. So I hear what you say, So 0:16:11.960 --> 0:16:16.080 how do we get the way forward, especially when you 0:16:16.120 --> 0:16:19.160 still do have terrorists who are out there like Amas. 0:16:20.480 --> 0:16:23.440 I think it's a great example of me traveling to 0:16:23.480 --> 0:16:26.840 the UE ten times this year and doing amazing business 0:16:26.880 --> 0:16:31.400 and watching the highness leadership. It's a great example of 0:16:31.400 --> 0:16:36.520 how you interval. But which prosperity there is in Lebanon 0:16:36.760 --> 0:16:39.760 is physimalized? There to free the Lebanese? Is Hamasi is 0:16:39.800 --> 0:16:44.360 there to free the Palestinians? Is Isis is there to 0:16:44.440 --> 0:16:47.320 free the Surian people. Is al Qaeda was there to 0:16:47.760 --> 0:16:52.040 free Afghanistan. We all in the Western world needs to 0:16:52.120 --> 0:16:55.920 fight Tello so we can our kids can have a future. 0:16:56.200 --> 0:16:58.280 And I want my kids to have a future next 0:16:58.280 --> 0:17:02.120 to my Palestinians. There is no any other way around, 0:17:02.160 --> 0:17:04.159 and I will never stop fighting for it. 0:17:04.760 --> 0:17:08.640 Are you worried about a potential ground invasion of Gaza. 0:17:08.680 --> 0:17:12.359 After all, it's been days since Israel warned people in 0:17:12.440 --> 0:17:14.879 northern Gaza to move to southern Gaza, and do you. 0:17:14.840 --> 0:17:18.359 Think it's wrong considering what you just said about Palestinians. 0:17:20.960 --> 0:17:26.480 I'm sorry and sad about the situation that is happening there, 0:17:26.760 --> 0:17:30.080 but you need to understand that Israel is not going 0:17:30.160 --> 0:17:34.160 to sit aside and let the whole west of the country. 0:17:34.480 --> 0:17:38.399 Having thirteen hundred kids and womens that've been slaughter in 0:17:38.440 --> 0:17:42.080 one day, and more than one hundred and fifty people kidnapped, 0:17:42.280 --> 0:17:45.399 most of them civilians, some of them babies on the 0:17:45.440 --> 0:17:49.080 age of three months, Israel cannot continue to have the 0:17:49.119 --> 0:17:53.120 Hamas sitting in the south part of Israel shooting rockets 0:17:53.200 --> 0:17:58.159 when they feel comfortable with which prosperity happened in Gaza. 0:17:58.280 --> 0:18:02.120 Israel is out of Gaza thousand and five, Which prosperity, 0:18:03.280 --> 0:18:07.720 which startup is being built, which infrastructure, which a great 0:18:07.720 --> 0:18:12.760 innovation is happening there. Nothing can be born when there 0:18:12.880 --> 0:18:17.280 is a radical to organization control the old country. And unfortunately, 0:18:17.840 --> 0:18:21.480 unfortunately more people are going to lose their life both 0:18:21.520 --> 0:18:24.879 sides because of that organization or we have to. 0:18:24.920 --> 0:18:26.640 Leave it there, but I hope we can come back 0:18:26.680 --> 0:18:28.000 to you, and I hope we can come back to 0:18:28.040 --> 0:18:31.320 you at a time that's more peaceful, certainly in the 0:18:31.400 --> 0:18:33.520 in the Middle East at this point in Israel and 0:18:33.560 --> 0:18:37.080 Gaza specifically, were susan former special forces agent for the 0:18:37.240 --> 0:18:41.160 Israeli military, Founder and managing partner of Eclipse Ventures. They're 0:18:41.160 --> 0:18:45.200 an investor and they are investing in entrepreneurs who are 0:18:45.400 --> 0:18:49.200 rebuilding specifically the world's physical industries. So you can find 0:18:49.880 --> 0:18:52.240 more information at their website. But just great to get 0:18:52.240 --> 0:18:54.399 his perspective, a very unique one and I think a 0:18:54.440 --> 0:18:55.320 really important one. 0:18:55.560 --> 0:19:01.399 Joining us from Palo out of California. 0:19:01.880 --> 0:19:05.480 You're listening to the Bloomberg Business Week podcast. Catch us 0:19:05.480 --> 0:19:09.600 live weekday afternoons from three to six Easter on Bloomberg Radio, 0:19:09.720 --> 0:19:13.000 the Bloomberg Business App, and YouTube. You can also listen 0:19:13.080 --> 0:19:16.200 live on Amazon Alexa from our flagship New York station. 0:19:16.640 --> 0:19:19.439 Just say Alexa play Bloomberg eleven thirty. 0:19:20.840 --> 0:19:21.680 All right, we'll get this. 0:19:21.880 --> 0:19:25.120 Global cybercrime costs are set to reach ten point five trillion, 0:19:25.359 --> 0:19:27.880 that's right, trillion, with the t trillion dollars each year 0:19:27.920 --> 0:19:30.760 by twenty twenty five. So that's up from three trillion 0:19:30.840 --> 0:19:34.280 in twenty fifteen, and that's according to data from Cybersecurity Ventures, 0:19:34.280 --> 0:19:36.119 and that was cited in a report out from EY 0:19:36.280 --> 0:19:36.800 last year. 0:19:37.000 --> 0:19:39.120 Just think about that recent computer hack that shut down 0:19:39.240 --> 0:19:42.840 many services at MGM's Casino hotels. The company said that 0:19:42.840 --> 0:19:45.280 that hack alone, Carol, is going to reduce third quarter 0:19:45.320 --> 0:19:48.280 profit by about one hundred million dollars. That's real money. 0:19:48.119 --> 0:19:49.239 Here, absolutely, so. 0:19:49.280 --> 0:19:51.679 Cybercrime and protecting data in the cloud is something our 0:19:51.680 --> 0:19:54.320 next guest knows a lot about. Sanjay Punin is the 0:19:54.320 --> 0:19:55.359 CEO at Cohesiity. 0:19:55.520 --> 0:19:56.200 It's a data. 0:19:56.000 --> 0:19:58.720 Security and data management platform. He's also the former CEO 0:19:58.800 --> 0:20:03.320 at the cloud computing and zation or virtualization tech company VMware. 0:20:03.640 --> 0:20:04.119 How are you? 0:20:04.280 --> 0:20:06.080 Thank you, Tim and Carol for having me on. 0:20:06.200 --> 0:20:09.440 Hey, listen before we get into kind of security, cybercrime, 0:20:09.520 --> 0:20:13.359 all that good stuff. It's interesting times for anybody who's 0:20:13.400 --> 0:20:16.560 running a company, whether it's the focus on geopolitical and 0:20:16.560 --> 0:20:20.439 the unrest and the concerns obviously first and foremost the 0:20:20.480 --> 0:20:24.159 impact on lives, but also the uncertainty that also creates 0:20:24.200 --> 0:20:27.240 about kind of the global outlook. There's also concerns about 0:20:27.240 --> 0:20:30.280 certainly here in the US about the rate, environment, the economy. 0:20:31.520 --> 0:20:34.479 From your vantage point, how would you describe the global 0:20:34.480 --> 0:20:35.320 outlook right now? 0:20:35.480 --> 0:20:38.280 I think it's a tremendous option for leadership. I think 0:20:38.320 --> 0:20:41.159 as a CEO and I was COO of VMware, we 0:20:41.200 --> 0:20:45.040 had thirty five thousand employees. As president SAP one thousand employees. 0:20:45.080 --> 0:20:47.359 Both were global companies. My company here is smaller, two 0:20:47.400 --> 0:20:51.520 thousand employees, but an important company cybersecurity. It's a time 0:20:51.520 --> 0:20:54.640 for leaders to lead with empathy. I have employees who 0:20:55.119 --> 0:21:00.359 have who are Israeli, friends who have in Israel, and 0:21:00.920 --> 0:21:04.280 I think in Israel everybody knows somebody who knows somebody 0:21:05.040 --> 0:21:10.000 who's affected, either who's a hostage or diet or somebody infected, 0:21:10.520 --> 0:21:13.000 and the other side of the debates also being affected 0:21:13.040 --> 0:21:15.120 now on gods, if you look what's happening. So this 0:21:15.160 --> 0:21:17.560 is a time where we get to lead, first off, 0:21:17.600 --> 0:21:21.600 condemning terrorism, but also leading with empathy. It's a tremendous 0:21:21.600 --> 0:21:24.679 opportunity for us to be as leaders empathetic, listening to 0:21:24.680 --> 0:21:27.760 our employees. And I always believe the great greatest companies 0:21:27.800 --> 0:21:29.159 are the ones who take care of the employees and 0:21:29.160 --> 0:21:30.600 take care of their customers and that's what I seek 0:21:30.600 --> 0:21:31.160 to do as CEO. 0:21:31.640 --> 0:21:34.000 It's also a business story and we're Bloomberg, so we 0:21:34.000 --> 0:21:35.320 got to talk about the business side of this. But 0:21:35.400 --> 0:21:38.280 we spent a lot of last week talking about Israel 0:21:38.280 --> 0:21:40.720 being a hub for cybersecurity. They made a lot of 0:21:40.720 --> 0:21:43.280 advances there and there are a lot of tech companies 0:21:43.800 --> 0:21:46.080 in Israel. There's prominent ones that have been bought by 0:21:46.160 --> 0:21:49.280 US companies. Do you have any exposure to Israel? Do 0:21:49.280 --> 0:21:50.840 you work with any Israeli companies right now? 0:21:50.920 --> 0:21:53.680 But absolutely we work with a lot of In fact, 0:21:53.720 --> 0:21:57.600 a big part of our cybersecurity strategy is partnership with 0:21:57.680 --> 0:22:01.679 many Israeli companies, big ID, Digs, Era, CenTra, folks in 0:22:01.720 --> 0:22:04.200 the cybersecurity of data security. There are companies who are 0:22:04.880 --> 0:22:08.080 physically located there. Wiz I talked to them and talks 0:22:08.080 --> 0:22:10.160 to me and the CEOs. I've sent them messages, checked 0:22:10.160 --> 0:22:13.600 to see how they're doing the heart of innovation of security. 0:22:13.600 --> 0:22:15.440 It's not a very big country in terms of population, 0:22:15.520 --> 0:22:18.400 a few million people, but they have an intense program 0:22:18.440 --> 0:22:21.240 by which people who've served in the Israeli defensive forces 0:22:21.280 --> 0:22:23.639 are often focused on security and then start companies. So 0:22:23.640 --> 0:22:25.960 we're working very closely with them, every one of them. 0:22:26.080 --> 0:22:28.680 This is a tough time for them and their attentions 0:22:28.680 --> 0:22:31.600 first to their families. But I do believe Israel'll be resilient. 0:22:32.359 --> 0:22:35.439 The innovation will continue to grow, and you know, the 0:22:35.480 --> 0:22:38.639