WEBVTT - Cybersecurity Threats, Crypto News & Digital Marketing 0:00:03.400 --> 0:00:06.680 From the heart of where innovation, money and power. CALLI 0:00:07.520 --> 0:00:12.039 in Silicon Valley and beyond. This is Bloomberg Technology with 0:00:12.119 --> 0:00:28.040 Emily j I'm Caroline Hyde in New York. This is 0:00:28.080 --> 0:00:30.840 Bloomberg Technology. Coming up. In the next hour, we explore 0:00:30.880 --> 0:00:34.519 the latest sanctions that the Biden administration is levying a Russia. 0:00:34.840 --> 0:00:38.000 This country inches forward to a possible invasion of Ukraine, 0:00:38.200 --> 0:00:41.639 classic tensions heightened, how Russia could also use cyber attacks 0:00:41.680 --> 0:00:45.879 to retaliate for those sanctions. Plus the revolving down in 0:00:46.000 --> 0:00:49.440 Washington between those in crypto when those tasked with policing 0:00:49.479 --> 0:00:52.480 it some surprising number of people who have been making 0:00:52.479 --> 0:00:55.639 the move from crypto to government and vice versa. And 0:00:55.800 --> 0:00:58.120 for the first time in nearly two decades, there will 0:00:58.160 --> 0:01:01.120 be no new call a duty next year. Well, that 0:01:01.120 --> 0:01:03.160 means the gaming industry, and that's why the gaming world 0:01:03.280 --> 0:01:06.040 is going crazy off elden Ring and my fans a 0:01:06.080 --> 0:01:09.360 Game of Thrones might be intrigued as well. We'll get 0:01:09.400 --> 0:01:12.199 to all of that good stuff in a moment, but first, well, 0:01:12.240 --> 0:01:14.600 it was another pretty bleak day on the market, particularly 0:01:14.600 --> 0:01:16.600 for your long technology, but most pretty good to has 0:01:16.600 --> 0:01:18.640 the update for us, Yeah, a risk off day in 0:01:18.680 --> 0:01:21.280 the market's read on the screen, which is interesting given 0:01:21.280 --> 0:01:23.080 that we had a pretty big sell off yesterday. That 0:01:23.200 --> 0:01:25.759 usually means you have a pretty strong rebound. But even 0:01:25.800 --> 0:01:28.120 though we opened in the green, we weren't able to 0:01:28.120 --> 0:01:29.720 hold those games. You can see that right behind me 0:01:29.760 --> 0:01:32.959 the SMP five hundred closing down one percent, but like 0:01:33.000 --> 0:01:35.040 you said, Caroline, a lot of that pain showing up 0:01:35.040 --> 0:01:38.240 in the NASDAC down almost to all which shy three 0:01:38.280 --> 0:01:40.760 percent two point six percent. What's important to keep in 0:01:40.800 --> 0:01:43.280 mind here is that big tech, although at least those records, 0:01:43.280 --> 0:01:45.560 it also leads the declines, and that's really what you're 0:01:45.560 --> 0:01:48.360 seeing seeing. One of the only sectors in the green 0:01:48.400 --> 0:01:50.880 today was of course energy, which brings me once again 0:01:50.920 --> 0:01:53.360 to those geopolitical tensions. You can see that's what weighed 0:01:53.400 --> 0:01:56.240 the stock market down but actually fed into commodities, and 0:01:56.240 --> 0:01:58.680 you can see that Brent crude getting closer and closer 0:01:58.800 --> 0:02:00.840 to that one dollar. There's a barrel that is going 0:02:00.880 --> 0:02:04.040 to be significant when we talk about inflation feeding back 0:02:04.080 --> 0:02:06.720 into what actually weighs on those tech stocks. Let's talk 0:02:06.720 --> 0:02:10.000 about technicals though, because that absolutely plays into this dynamic. 0:02:10.080 --> 0:02:14.880 You actually saw the SMP close into correction territory yesterday. 0:02:14.960 --> 0:02:17.480 So once again, Caroline, the assumption here is that you're 0:02:17.520 --> 0:02:19.560 going to see a bounce back. Pretty normally, when the 0:02:19.639 --> 0:02:22.840 SMP five hundred drops ten from its all time peak, 0:02:23.040 --> 0:02:24.920 you do see a pretty strong bounce back. Yet we 0:02:24.960 --> 0:02:28.320 are not there. We are now down eleven from its 0:02:28.320 --> 0:02:31.400 peak earlier this year. There was some green on the screen, 0:02:31.400 --> 0:02:33.519 though a little pockets, and when it comes once again, 0:02:33.520 --> 0:02:36.720 it comes to geopolitical tensions. Traditionally in those kind of 0:02:36.720 --> 0:02:38.760 safe haven moves, you tend to go to big tech. 0:02:39.040 --> 0:02:41.080 But today that green on the screen happened to me 0:02:41.080 --> 0:02:43.359 and cybersecurity stocks a little bit of a last miss 0:02:43.360 --> 0:02:46.320 self when it comes to CrowdStrike, vm Ware and fort neet, 0:02:46.600 --> 0:02:50.440 but Paulo Alto once again actually gaining some pretty blockbuster 0:02:50.440 --> 0:02:52.160 earnings there at the end of the day, when you're 0:02:52.200 --> 0:02:54.880 talking about geopolitical risk, when you're talking about invasion risk, 0:02:55.040 --> 0:02:57.880 and of course cyber tax on Ukraine, what better play 0:02:58.080 --> 0:03:00.440 than those defense stocks, And right now, that's the purpose 0:03:00.639 --> 0:03:03.560 cybersecurity is playing right now on the stock market. Pretty 0:03:03.720 --> 0:03:06.840 such a great round up, really tying together all of 0:03:07.480 --> 0:03:09.800 the headwinds and tail winds in the market in their 0:03:09.840 --> 0:03:11.680 own moment, and I want to talk more about those 0:03:11.680 --> 0:03:14.440 headwinds and precisely the sanctions that we were just talking about, 0:03:14.480 --> 0:03:18.000 the Biden administration once again opping the anti in that respect, 0:03:18.040 --> 0:03:20.280 we want to bring in of course, Blue WEG's Washington correspondent. 0:03:20.320 --> 0:03:22.880 He's not in Washington, so New York, Amory Horden. The 0:03:22.880 --> 0:03:24.720 reason your hero is because you had a really great 0:03:24.760 --> 0:03:27.400 exclusive interview. But first and foremost, bring us up to 0:03:27.400 --> 0:03:29.639 speed with well where we are in terms of sanctions. 0:03:29.639 --> 0:03:31.880 They seem to be ramping up slowly. Yeah, the Biden 0:03:31.880 --> 0:03:34.720 administration today is going to be sanctioning nord Stream too 0:03:35.320 --> 0:03:38.000 and the individuals that are part of nord Stream two. 0:03:38.040 --> 0:03:39.200 And this is, I have to say, is a pretty 0:03:39.200 --> 0:03:42.320 aggressive step. This is something that the US has really 0:03:42.360 --> 0:03:45.520 held back from doing. And this isn't just now that 0:03:45.600 --> 0:03:48.240 the Germans say we're going to wait for that certification, 0:03:48.320 --> 0:03:50.640 because remind us nor Stream to the gas pipeline between 0:03:50.680 --> 0:03:53.080 Germany and Russia, right, and this is something Putin wants 0:03:53.120 --> 0:03:56.160 eleven billion dollars. He can start to not go through 0:03:56.280 --> 0:03:59.240 Ukraine as much for those gas, but instead use another 0:03:59.240 --> 0:04:02.800 pipeline direct clean into Europe, the heart of Europe. And 0:04:02.840 --> 0:04:04.720 now even though the Germany says they're going to wait 0:04:04.720 --> 0:04:08.520 to potentially certify it with the US putting sanctions on 0:04:08.600 --> 0:04:11.040 and that means that certification may never come through. But 0:04:11.560 --> 0:04:14.040 the Ukrainian Foreign minister who I sat down and said 0:04:14.320 --> 0:04:16.479 this is very welcome. They've been against north Stream too 0:04:16.480 --> 0:04:18.720 for years. But he said more sanctions are needed to 0:04:18.720 --> 0:04:21.800 take lessen. It sends a strong message to put In, 0:04:21.839 --> 0:04:23.919 but it still doesn't stop him. So it means we 0:04:23.960 --> 0:04:26.520 need more sanctions, we need the second wave and then 0:04:26.560 --> 0:04:30.200 probably the third way until it gets clear to him 0:04:30.440 --> 0:04:35.440 that he shouldn't make any step further. Dmitro phuleb there 0:04:35.480 --> 0:04:37.200 and he's heading back to Kiev. Now we should know 0:04:37.360 --> 0:04:39.640 Kiev now, Caroline and Ukraine as a whole. It's a 0:04:39.640 --> 0:04:43.600 state of emergency. The separatists have asked Putin to send 0:04:43.600 --> 0:04:45.880 in troops. So it does feel like things are really 0:04:45.880 --> 0:04:49.119 starting to escalate, starting to escalate, and also not only 0:04:49.320 --> 0:04:52.560 in physical form, but also in cyber form as well. 0:04:52.560 --> 0:04:55.159 There was another cyber attack on Ukraine's key sort of 0:04:55.160 --> 0:04:58.800 infrastructure to and including the foreign minister his website, so 0:04:58.839 --> 0:05:01.680 that all these ministry as were attacked. This was the 0:05:01.760 --> 0:05:05.880 second cyber attack that's happened in about a week. But 0:05:05.960 --> 0:05:08.280 this has happened to Ukraine a number of times. One 0:05:08.320 --> 0:05:11.960 of the biggest ones was in when literally everyone's power 0:05:12.000 --> 0:05:14.400 went out in the country, or maybe three hundred thousand 0:05:14.400 --> 0:05:16.360 consumers right, it felt like a lot at the time. 0:05:16.520 --> 0:05:19.560 But they've attacked cyber attacks have been at banks, the 0:05:19.600 --> 0:05:21.760 metro a number of issues. And I asked him about 0:05:21.760 --> 0:05:23.680 this and he said they have been working for to 0:05:23.839 --> 0:05:26.840 really fortify it and make it a little bit more robust. 0:05:27.120 --> 0:05:29.200 But I was curious about if you're going tipped for 0:05:29.279 --> 0:05:31.800 toe or tip for tat with poutin tote to toe 0:05:31.839 --> 0:05:34.720 when it comes to sanctions trying to deter him any 0:05:34.760 --> 0:05:38.080 of his conversations have Western leaders said they would also 0:05:38.240 --> 0:05:40.240 issue cyber attacks on Russia and he said, no, that 0:05:40.279 --> 0:05:43.560 hasn't come up yet. We'll see how cyber wolf haes 0:05:43.560 --> 0:05:45.200 stoughts to be factored in a little bit more. I'm 0:05:45.240 --> 0:05:48.080 reholding such a great interview. Go onto dot com and 0:05:48.080 --> 0:05:50.000 seek it out because it was a great conversation. But 0:05:50.120 --> 0:05:52.720 we want to, of course discuss a little bit more 0:05:52.760 --> 0:05:56.720 about what's been happening with several of the Ukrainian government 0:05:56.720 --> 0:05:59.840 and banking websites not functioning due to distributed to not 0:06:00.000 --> 0:06:03.120 of service attacks d d US. This comes after Ukraine 0:06:03.200 --> 0:06:04.920 said just last week that of course it suffered its 0:06:04.920 --> 0:06:08.840 worst cyber attack also targeting banking and government websites is 0:06:08.960 --> 0:06:11.120 and Marie was just telling us, let's dig into it. 0:06:11.240 --> 0:06:14.320 Marcus Fowler, he's a senior vice president for Strategic Engagements 0:06:14.320 --> 0:06:17.599 and Threats for dark Trace. He also spent fifteen years 0:06:17.640 --> 0:06:21.520 working at the CIA as its global cyber operations. You're 0:06:21.560 --> 0:06:23.240 a man who is in the know on these things. 0:06:23.279 --> 0:06:26.080 Just talk to us about the level of threat that 0:06:26.160 --> 0:06:30.200 distributed denial of service attacks have on Ukraine. How impactful 0:06:30.279 --> 0:06:34.240 are they? Carolina and great to be here, So, you know, 0:06:34.279 --> 0:06:38.799 these distributed denial service attacks really go at basically flooding 0:06:38.960 --> 0:06:42.520 a network or a website with traffic so that they're unusable, 0:06:42.600 --> 0:06:45.400 they're overloaded, and they really don't function, and they can 0:06:45.440 --> 0:06:48.560 be disruptive kind of at that, you know, if I'm 0:06:48.560 --> 0:06:51.320 a consumer trying to get to a specific website, and 0:06:51.360 --> 0:06:56.480 they can really frustrate kind of the the Internet connectivity 0:06:56.560 --> 0:06:59.600 of a specific website. But in terms of like broader, 0:07:00.320 --> 0:07:04.800 more disruptive attacks, I think those are still to come. Okay, 0:07:04.839 --> 0:07:07.920 still to come and still to come level DoPT Ukraine 0:07:08.120 --> 0:07:10.160 or do you start to think that here in the 0:07:10.280 --> 0:07:14.080 United States, with sanctions being upped by the Biden administration, 0:07:14.400 --> 0:07:17.040 we could to see infrastructure as we've seen before, or 0:07:17.080 --> 0:07:20.520 perhaps websites and the like start to be attacked as well. 0:07:21.240 --> 0:07:24.040 Great question. I think the easy answers both. You're going 0:07:24.080 --> 0:07:26.520 to see them ratchet up. You're gonna see the Russians 0:07:26.560 --> 0:07:30.480 ratche up, ratchet up cyber attacks within Ukraine, potentially moving 0:07:30.480 --> 0:07:35.880 into ransomware, data theft, data encryption to further cripple organizations 0:07:35.880 --> 0:07:40.040 and businesses, as well as potentially move into critical infrastructure 0:07:40.080 --> 0:07:42.920 as a as a higher escalation point. As for the 0:07:43.080 --> 0:07:47.000 U S and the West, as harsher and harsher sanctions 0:07:47.000 --> 0:07:50.520 and more economic damage is done on Russia, you will 0:07:50.560 --> 0:07:53.640 see them. I think I want you an attempt to 0:07:53.840 --> 0:07:59.840 respond in kind in terms of economic disruption, thinking financial institutions, 0:08:00.440 --> 0:08:04.200 banks maybe potentially tightening and or more damage to the 0:08:04.240 --> 0:08:09.040 supply chain through either their own actions or proxies such 0:08:09.080 --> 0:08:12.400 as cyber criminal groups or in ransomware actors. Yeah, to 0:08:12.440 --> 0:08:14.560 that point, when you are looking at the data, when 0:08:14.560 --> 0:08:17.320 you're trying to see when you're understanding where these attacks 0:08:17.320 --> 0:08:20.320 are coming from, how do you discern whether it's indeed 0:08:20.480 --> 0:08:24.400 from the government, whether or need it's more using other 0:08:25.040 --> 0:08:27.720 actors at their will. How you can ensure that you're 0:08:27.760 --> 0:08:31.800 joining the dolts in a sophisticated manner. No, your attribution 0:08:31.920 --> 0:08:36.000 within cyberspace and who the actor actually was is incredibly difficult. 0:08:36.360 --> 0:08:39.280 So I was very pleased to see what the earlier 0:08:39.360 --> 0:08:42.880 version of the denial of service attacks. The US government 0:08:43.000 --> 0:08:47.400 come out fairly quickly to identify the Russians as the actor, 0:08:47.559 --> 0:08:50.400 as the attackers in that space, and I think assessed 0:08:50.400 --> 0:08:53.600 attribution is really important, that it is done as quickly 0:08:53.640 --> 0:08:57.080 as possible, and that Russians, where there is evidence, can 0:08:57.120 --> 0:08:59.520 be held accountable. But I think they will absolutely be 0:08:59.679 --> 0:09:04.720 leaning on proxy organizations, potentially new ransomware groups we haven't 0:09:04.760 --> 0:09:08.839 heard of before. You're gonna see more activity within that 0:09:08.920 --> 0:09:15.439 space as the Russians either provide more state directed you know, actions, 0:09:15.720 --> 0:09:17.839 or are increasing not only trying to blind ive but 0:09:17.920 --> 0:09:20.360 kind of turned the shackles, you know, released that the 0:09:20.360 --> 0:09:23.320 shackles a bit in terms of those ransomware groups operating 0:09:23.480 --> 0:09:26.520 out of their backyard as it were, Marcus, I mean, 0:09:26.559 --> 0:09:28.840 obviously this is I'm asking you to talk your book 0:09:28.840 --> 0:09:32.160 a little bit. But have we seen an uptick in 0:09:32.240 --> 0:09:36.600 demand for cyber protection? Are we seeing the defenses being fortified? 0:09:36.679 --> 0:09:40.480 Are we ready for the fight to be perfectly frank So, 0:09:40.600 --> 0:09:42.440 I would say one of the silver linings of the 0:09:42.520 --> 0:09:46.520 increasing ransomware over the last two years is absolutely seeing 0:09:46.920 --> 0:09:53.360 the private industry, especially prioritized cybersecurity more directly right and 0:09:53.400 --> 0:09:58.199 really start to put more resources, personnel, you know, advanced 0:09:58.200 --> 0:10:01.200 emerging technologies into that space. And I think that the 0:10:01.360 --> 0:10:03.760 US government has as well, right and as well as 0:10:04.000 --> 0:10:07.880 as mother Western allies, recognizing the increased threat, have they 0:10:07.960 --> 0:10:10.880 done enough, you know, as quickly? I think you we 0:10:10.920 --> 0:10:13.360 aren't a bit of a race condition against what will 0:10:13.400 --> 0:10:17.200 be a spike in in cyber attacks and getting the 0:10:17.320 --> 0:10:21.160 right pieces in place to properly defend right. It's kind 0:10:21.160 --> 0:10:24.120 of what that that old adage of you go to 0:10:24.200 --> 0:10:26.680 war with the army you have, not the army you'd 0:10:26.679 --> 0:10:30.520 wish you'd built and resourced and prioritized appropriately. Moist the 0:10:30.559 --> 0:10:33.839 way Marcus Fowler really interesting. We thank you so much 0:10:33.880 --> 0:10:45.880 as VP of Dark Trace. Let's just take a moment 0:10:45.960 --> 0:10:48.760 to think about, well, the future of marketing from Palaton 0:10:48.920 --> 0:10:51.440 to Facebook or US. We now know it meta. The 0:10:51.480 --> 0:10:54.760 world is seeing its shares of brands facing kind of 0:10:54.800 --> 0:10:57.680 a post pandemic marketing challenge. More I want to bring 0:10:57.720 --> 0:10:59.440 in on the back of its earnings and also it's 0:10:59.480 --> 0:11:01.720 forward looking thinking on all of this. The marketing firm 0:11:02.000 --> 0:11:04.720 sat to Global, the CEO and co founder and chairman 0:11:04.840 --> 0:11:07.520 David Steinberg's with us also, of course, as I say, 0:11:07.679 --> 0:11:10.080 pushing to a fourth court of sales number that beat 0:11:10.160 --> 0:11:12.520 estimates under thirty five million. Talk to us first and 0:11:12.600 --> 0:11:16.840 foremost about your numbers first, David and the growth that 0:11:16.880 --> 0:11:21.079 you're seeing. Are we seeing continued demand and knowledge need 0:11:21.240 --> 0:11:24.480 in the marketing space. Yah? So, first of all, thank 0:11:24.520 --> 0:11:26.680 you for having me, Caroline. I appreciate it. It's great 0:11:26.720 --> 0:11:29.439 to be here. Uh So, in SATA, what we're really 0:11:29.480 --> 0:11:32.120 seeing is what I think a lot of organizations are seeing. 0:11:32.120 --> 0:11:35.719 There's a tremendous amount of disruption in the ecosystem. Is 0:11:35.880 --> 0:11:40.160 most marketers are moving from analog marketing to digital marketing. 0:11:40.640 --> 0:11:45.040 And as a lot of the very large tech players 0:11:45.200 --> 0:11:49.600 are sort of trying to consolidate control. Apple got rid 0:11:49.600 --> 0:11:52.800 of their tracking mechanism called the I d f A. 0:11:53.360 --> 0:11:57.440 Google is eliminating their cross app tracking, They're eliminating the 0:11:57.480 --> 0:12:01.280 third party cookie. Platforms like at A Global, which do 0:12:01.360 --> 0:12:05.199 not use any of those to resolve to an identity, 0:12:05.360 --> 0:12:08.240 have been able to grow fairly dramatically. I mean, I 0:12:08.240 --> 0:12:11.160 think that we grew the business when normalized for the 0:12:11.160 --> 0:12:14.480 presidential election by thirty two percent in the fourth quarter, 0:12:14.880 --> 0:12:17.720 and we grew earnings for the year by over sixty 0:12:18.640 --> 0:12:21.680 I think a lot of that is coming from this 0:12:22.000 --> 0:12:26.360 big disruption in the marketplace where organizations are trying to 0:12:26.400 --> 0:12:29.800 figure out how to navigate those changes, and Zeta Global 0:12:30.440 --> 0:12:34.240 is a bespoke platform to help them do so. And obviously, 0:12:34.240 --> 0:12:36.840 feeling that you've got enough confidence in your growth strategy 0:12:36.880 --> 0:12:39.720 that from a full year revenue of about four fifty 0:12:39.720 --> 0:12:42.480 eight million, you're looking to get that into an excess 0:12:42.480 --> 0:12:44.800 of a billion dollars in annual revenue over the next 0:12:45.080 --> 0:12:48.560 well up to talk to us about the kind of 0:12:48.600 --> 0:12:51.720 companies that are coming to at the moment. So it's 0:12:51.760 --> 0:12:54.800 a great question. Obviously, not only did we roll out 0:12:54.800 --> 0:12:57.880 our plan to get to over a billion year in 0:12:58.000 --> 0:13:03.920 revenue and plus operating margins, we fairly dramatically increased our 0:13:03.960 --> 0:13:08.360 guidance for two as well. Uh, you know, we're seeing 0:13:08.720 --> 0:13:13.200 very large enterprises. In fact, thirty four percent of the 0:13:13.240 --> 0:13:17.240 Fortune one hundred today use the Zata marketing platform who 0:13:17.320 --> 0:13:20.440 are trying to get to consumers in a way that 0:13:20.640 --> 0:13:25.160 is very cost efficient. And our platform is not just digital, 0:13:25.320 --> 0:13:28.280 it is built to be efficient in the way the 0:13:28.320 --> 0:13:32.079 marketing operates. And we've been able to really scale very 0:13:32.160 --> 0:13:36.640 very quickly with our clients. And so, how how do I, 0:13:36.679 --> 0:13:38.440 as a client wanting to get in front of the 0:13:38.559 --> 0:13:41.760 right use of the right demographic, the right timing, how 0:13:41.760 --> 0:13:43.240 do I do that in a cost efficient way at 0:13:43.240 --> 0:13:44.920 the moment, because I feel that there's a lawful lot 0:13:44.920 --> 0:13:47.439 of wall of money is being spent on the likes 0:13:47.520 --> 0:13:49.439 of Instagram, on the likes of TikTok. But is it 0:13:49.559 --> 0:13:52.640 really being that efficient to your perspective, Yeah, so a 0:13:52.679 --> 0:13:54.880 lot of it isn't right. So the old joke is, 0:13:55.280 --> 0:13:58.160 you know, marketers would say, I know that of my 0:13:58.200 --> 0:14:00.280 marketing is a waste of money. I just do not 0:14:00.360 --> 0:14:04.199 know which half the beauty of the data marketing platform, 0:14:04.360 --> 0:14:08.320 combined with our data cloud, which has over two hundred 0:14:08.320 --> 0:14:13.000 and thirty million opted in US individuals alone, is we 0:14:13.160 --> 0:14:16.720 can weed out the individuals that do not have a 0:14:16.760 --> 0:14:20.560 propensity to want to buy our clients products, and we 0:14:20.600 --> 0:14:24.560 know exactly when they're in market, so we're able to 0:14:24.640 --> 0:14:28.200 hit them at the precise time with the precise message, 0:14:28.400 --> 0:14:31.400 and we're able to pull out of that marketing funnel 0:14:31.840 --> 0:14:35.160 the fifty percent of customers who would not be credit 0:14:35.200 --> 0:14:38.720 approved and or have a propensity to want to buy 0:14:38.720 --> 0:14:42.360 that product. So just by removing them, you're able to 0:14:42.480 --> 0:14:46.520 massively increase the efficiency. And then by using our data 0:14:46.520 --> 0:14:49.960 cloud where you're interacting with these two hundred and twenty 0:14:50.280 --> 0:14:54.080 million opted in US individuals, were able to know when 0:14:54.120 --> 0:14:58.560 they're in market for particular products and services and specifically 0:14:58.640 --> 0:15:02.160 target them when their thinking about the products. So those 0:15:02.200 --> 0:15:05.000 two things allow us to be very efficient with our 0:15:05.080 --> 0:15:09.840 enterprise client's budgets. Said opted in, how are we in 0:15:09.960 --> 0:15:12.840 terms of general trend lines, how many people are going 0:15:12.840 --> 0:15:15.000 to be wanting to to opt in? How many people 0:15:15.120 --> 0:15:18.200 see the quid pro quo and say I'm in, I 0:15:18.280 --> 0:15:22.920 wanted I want to be targeted that little bit more efficiently. Yeah, listen, 0:15:22.960 --> 0:15:25.880 we we came about this in a very different approach 0:15:25.920 --> 0:15:29.960 from most companies so we have acquired a large number 0:15:30.000 --> 0:15:34.440 of technology platforms that power publishers. In an exchange for 0:15:34.480 --> 0:15:37.840 the publisher getting our software platforms at no cost and 0:15:37.880 --> 0:15:41.280 the consumer being able to use those tools at no cost, 0:15:41.680 --> 0:15:45.120 we simply ask them to opt in. In return, we 0:15:45.280 --> 0:15:48.440 guarantee the consumer we will never sell their data to 0:15:48.520 --> 0:15:51.880 anybody at any price at any time. We simply use 0:15:52.000 --> 0:15:56.680 that data to build intent based scores on what does 0:15:56.720 --> 0:15:59.560 the consumer intend to do next? Do they intend to 0:15:59.560 --> 0:16:03.320 buy a particular credit card, do they want a blue 0:16:03.440 --> 0:16:06.800 car of a particular model, are they going to churn 0:16:06.920 --> 0:16:10.960 off a wireless platform? And we use that data to 0:16:11.160 --> 0:16:14.760 build the curriculum of contact on behalf of our enterprise 0:16:14.800 --> 0:16:19.240 clients to help them lower churn or create customers more efficiently. 0:16:19.320 --> 0:16:24.920 So by always keeping the consumers data private, we get 0:16:24.920 --> 0:16:27.240 a lot more consumers who are willing to opt into 0:16:27.320 --> 0:16:29.480 the platform and work with us because they know their 0:16:29.560 --> 0:16:32.360 data is never going to be sold. Here's hoping we 0:16:32.400 --> 0:16:35.200 get stalked a little bit less by ads for things 0:16:35.200 --> 0:16:37.800 we've only just purchased. So thank you very much. Indeed, 0:16:37.920 --> 0:16:40.640 there's a global CEO and co founder and chairman David Steinberg. 0:16:40.680 --> 0:16:42.640 Are you making the time for us when he's just 0:16:42.760 --> 0:16:45.440 released his earnings and indeed a serial entrepreneur, they're so 0:16:45.520 --> 0:16:56.080 great findings. Now we're going to talk about it called 0:16:56.080 --> 0:16:58.440 a Duty being delayed. It's the first time the franchise 0:16:58.520 --> 0:17:00.960 will be without an annual main line release in nearly 0:17:01.000 --> 0:17:03.400 two decades. It's all according to people familiar with the plan. 0:17:03.720 --> 0:17:05.920 Now we want to talk to our expert and all 0:17:05.920 --> 0:17:09.400 of this, Bloomberg's Jason Schreyer for more on the reasoning 0:17:09.480 --> 0:17:12.280 behind it. It feels as though what the previous release 0:17:12.359 --> 0:17:16.520 just didn't live up to expectations. Yeah, that's exactly what happened. 0:17:16.560 --> 0:17:20.040 So Call of Duty, um it has been an annual release, 0:17:20.080 --> 0:17:22.639 has come out every fall since two thousand and five. 0:17:22.800 --> 0:17:25.640 So this is pretty stunning. It's a it's a big change. 0:17:25.880 --> 0:17:27.800 And just for a little context, is the last time 0:17:27.840 --> 0:17:30.320 we did not have a Call of Duty UM, I 0:17:30.359 --> 0:17:34.960 believe was the beginning of the first Obama administration, So no, sorry, 0:17:35.000 --> 0:17:38.360 at the beginning of George W. Bush's second term. So yeah, 0:17:38.359 --> 0:17:40.080 so we're talking about a very long time. And yes, 0:17:40.160 --> 0:17:44.080 so the previous year's last year's Call of Duty game underperformed, 0:17:44.160 --> 0:17:47.919 which led activism Exacts to start thinking, hey, maybe we 0:17:48.000 --> 0:17:50.680 need to rethink this whole release schedule thing. Maybe gave 0:17:50.840 --> 0:17:54.080 some of these titles a little bit more breathing real Okay, 0:17:54.119 --> 0:17:58.040 so maybe a little bit more desire working up our 0:17:58.080 --> 0:18:00.359 appetite for the latest release. But it also comes at 0:18:00.400 --> 0:18:02.639 a time that there's a lot of change and Activision 0:18:02.680 --> 0:18:05.159 of course, notably that they're being boored. Could it be 0:18:05.240 --> 0:18:08.200 anything to do with that, Yeah, I mean, I'm sure 0:18:08.240 --> 0:18:11.119 there's some There's been some conversations there another about how 0:18:11.200 --> 0:18:14.000 Microsoft will react. But you know what, I think, legally, 0:18:14.280 --> 0:18:18.320 even though they've announced the acquisition, the Microsoft is buying Activision, um, 0:18:18.359 --> 0:18:20.680 it is not quite closed. They need to go through 0:18:20.720 --> 0:18:23.879 regulatory approval, which is expected to be finished by the 0:18:24.200 --> 0:18:27.439 next summer at the at the latest, summer three at 0:18:27.480 --> 0:18:31.679 the latest. So until then, Activision is legally required to 0:18:32.000 --> 0:18:35.360 just continue operating autonomously. And I'm sure they're in conversations 0:18:35.359 --> 0:18:37.880 and Microsoft exects all the time. They are still making 0:18:37.920 --> 0:18:40.480 their own calls. And I think this was more about 0:18:40.480 --> 0:18:42.760 the health of the College Duty franchise than it was 0:18:42.840 --> 0:18:45.919 about Microsoft coming in and wanting to make some changes 0:18:46.240 --> 0:18:48.240 and talked to us. Therefore about maybe some of the 0:18:48.240 --> 0:18:52.159 independent changes they're making ahead of the sale from an 0:18:52.200 --> 0:18:55.520 executive shake up perspective, because they were once the acquirer, 0:18:55.840 --> 0:18:58.800 particularly of the maker of candy Crush. And then there's 0:18:58.800 --> 0:19:03.960 some executive chan that yes again, um that was actually 0:19:04.040 --> 0:19:06.199 just today is that king to make a mechanic? Car 0:19:06.200 --> 0:19:09.720 Sta announce that their president and chief creative officer both departing. 0:19:10.160 --> 0:19:13.040 Um again, who knows if that is really related to 0:19:13.119 --> 0:19:16.160 the Microsoft exposition or if, as they said, they want 0:19:16.160 --> 0:19:18.360 to go spend more time with their family. I mean, 0:19:18.400 --> 0:19:22.399 we all know what what that typically means and exact speak. Um. 0:19:22.440 --> 0:19:25.600 But again, I just don't think that, Um, well, it's 0:19:25.600 --> 0:19:27.760 possible of these folks saw the writing on the wall 0:19:27.800 --> 0:19:29.560 and they're like, you know what, Microsoft is going to 0:19:29.600 --> 0:19:31.560 make some changes anyway, we better might as well get 0:19:31.560 --> 0:19:33.800 out of here early. I do not think that Microsoft 0:19:33.840 --> 0:19:38.480 is actually getting involved too much just yet. Okay, lastly, 0:19:38.560 --> 0:19:41.720 like talk to us a little bit about where is 0:19:41.760 --> 0:19:43.439 hot right now? So if we're going to have to 0:19:43.480 --> 0:19:47.199 wait for Activision to release Call a Duty, there is 0:19:47.240 --> 0:19:52.240 another game that everyone seem to be talking about. Elden Ring. Yeah, 0:19:52.280 --> 0:19:55.360 alden Ring comes out on Friday today. The review embargo 0:19:55.440 --> 0:19:58.359 lifts a bunch of criticism just hit. Last I checked, 0:19:58.359 --> 0:20:01.120 it was tracking to be um one of the if 0:20:01.119 --> 0:20:04.520 not the best reviewed games of all times. Um So, 0:20:04.560 --> 0:20:07.520 which is the game a lot of what was the 0:20:07.560 --> 0:20:11.840 winner before UM I should check? I think, uh the 0:20:11.920 --> 0:20:14.440 legend of Zelda Breuss of the while it was a 0:20:14.480 --> 0:20:17.399 top one, Mario Odyssey was another chop one um let. 0:20:17.400 --> 0:20:19.520 As I checked on the Open Critic, which is a 0:20:19.560 --> 0:20:22.200 review aggregation site, it has a ninety six out of 0:20:22.200 --> 0:20:25.000 a hundred, which is by far the biggest game of 0:20:25.000 --> 0:20:26.920 the year, and I think one of the biggest games ever. 0:20:27.200 --> 0:20:29.960 But yeah, so this game, UM, it's getting a lot 0:20:29.960 --> 0:20:33.520 of heights, largely because it's a crossover between George R. 0:20:33.680 --> 0:20:36.040 Martin UM. George R. Martin was the writer of the 0:20:36.080 --> 0:20:39.760 Game of Thrones series UM and from Software, which is 0:20:39.760 --> 0:20:42.359 a Japanese developer that, as you tell them, absolutely the 0:20:42.480 --> 0:20:45.760 loved among a lot of gamers for its series Dark 0:20:45.840 --> 0:20:49.440 Souls UM, which is known as like a really interesting, mysterious, 0:20:49.480 --> 0:20:53.560 difficult um action action RPG series. And so the game 0:20:53.640 --> 0:20:55.560 combined the two and it really just takes a lot 0:20:55.640 --> 0:20:58.679 of smart ideas from a lot of other games. And uh, 0:20:58.800 --> 0:21:00.760 it's really brilliant. I've been a whole an of it 0:21:00.800 --> 0:21:04.399 over the past week. Jason, you're doing your reporting for us. 0:21:04.520 --> 0:21:07.280 We thank you. Jason Schreyer, He's always so smart on 0:21:07.359 --> 0:21:10.440 all things gaming. So go check out the latest. Meanwhile, 0:21:10.520 --> 0:21:13.800 coming up, despite while supply chain issues and shipping delays, 0:21:14.200 --> 0:21:16.240 it didn't seem to slow down over stock, which is 0:21:16.280 --> 0:21:19.080 reported about than expected fourth quarter earnings. We're gonna be 0:21:19.080 --> 0:21:21.040 breaking down all of the numbers when it comes to 0:21:21.080 --> 0:21:24.040 you're purchasing a big ticket items for the CEO Jonathan Johnson. 0:21:24.080 --> 0:21:27.080 But also remember there for ay into blockchain. He's been 0:21:27.080 --> 0:21:30.480 a big proponent of the technology and looks as though 0:21:30.520 --> 0:21:34.040 his early investments there seemed to still be bearing fruit. 0:21:34.200 --> 0:21:37.600 Suddenly people liking the stock on a key investment in 0:21:37.800 --> 0:21:40.560 the financial exchange area. So stick with us of that 0:21:40.600 --> 0:21:44.560 conversation from beautiful sunny New York. This has been back. 0:22:02.000 --> 0:22:04.640