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Speaker 1: From the heart of where innovation, money and power collive

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Speaker 1: in Silicon Valley and beyond. This is Bloomberg Technology with

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Speaker 1: Emily Jay. I'm Emily changing San Francisco, and this is

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Speaker 1: Bloomberg Technology. Coming up in the next hour. Vacations are back,

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Speaker 1: at least at the happiest place on Earth. Disney Parks

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Speaker 1: have a blowout quarter and streaming subscribers beat with revenue

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Speaker 1: up from a year ago. And a new ad supported

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Speaker 1: tier is coming to Disney. Plus more on earnings in

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Speaker 1: a moment. Plus Musque sells more Tesla shares unloading nearly

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Speaker 1: thirty two billion dollars in Tesla stocks since November, and

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Speaker 1: he's pointing the finger at Twitter. I'll speak with one

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Speaker 1: of his longtime friends, David Sacks, who has been subpoenaed

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Speaker 1: by Twitter ahead of the trial. And a key metric

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Speaker 1: for Roadblocks and shares tumbling, overall bookings unexpectedly dropping in

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Speaker 1: the second quarter. What does that tell us about the

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Speaker 1: making of the metaverse. Later this hour, Roadblocks CEO Dave

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Speaker 1: Bazuki joins me one on one. All of that in

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Speaker 1: a moment, but first I want to dig into Disney's

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Speaker 1: results a little bit more. Now, bringing Ross Garber, CEO

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Speaker 1: of Garber Kawasaki, longtime Disney's shareholder, of course, So a

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Speaker 1: mixed bag adding fourteen and a half million new subscribers

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Speaker 1: to Disney Plus. The bulk of those came from India,

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Speaker 1: others from other countries, and just a hundred thousand new

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Speaker 1: subscribers from the US and Canada. What's your take, Well,

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Speaker 1: I don't look at this mixed bag at all. I

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Speaker 1: look at this blowout results. I mean you're looking at

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Speaker 1: Netflix struggling to add subscribers and the tremendous you know,

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Speaker 1: competition and the streaming business and Disney still growing tremendously,

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Speaker 1: not only Disney Plus, but Hulu as well and ESPN Plus.

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Speaker 1: So when you look at their streaming business, although it's

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Speaker 1: losing still lot of money, the future looks very bright

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Speaker 1: for that. And Disney was a great company before streaming.

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Speaker 1: And what's really exciting about the earnings report is the

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Speaker 1: parks are back with over two billion dollars of profits,

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Speaker 1: five million of it just from consumer products at the park. So,

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Speaker 1: you know, the operating results of this company have improved dramatically, right,

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Speaker 1: sort of a broad based recovery that we're seeing. We've

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Speaker 1: been listening into Bob J. Peck, the CEO on the

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Speaker 1: earnings call. Let's take a quick listen to some of

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Speaker 1: what he's had to say. And significant subscriber growth at

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Speaker 1: our streaming services, which added fifteen point five million subscriptions

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Speaker 1: in the quarter, including fourteen point four million Disney Plus subscribers,

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Speaker 1: of which six million were Core Disney Plus and eight

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Speaker 1: million were Hot Stars. As of the close of Q three,

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Speaker 1: we now have two hundred and twenty one million total

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Speaker 1: subscriptions across our streaming offering. Hot Star. By the way,

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Speaker 1: is that service that's offered mostly in India. What do

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Speaker 1: you make of you know, the addition of this ad

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Speaker 1: supported tier. It's something that we were expecting. Netflix is

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Speaker 1: doing it as well. Does you know Disney potentially have

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Speaker 1: something on Netflix here when it comes to an ad

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Speaker 1: supported model. Um no. I think actually it will be

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Speaker 1: more benefits for Netflix the ad supported model because for

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Speaker 1: many reasons, but I think for Disney because they have

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Speaker 1: you know, networks and cable channels and stuff. So you're

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Speaker 1: sort of competing against yourself a little bit from the ads,

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Speaker 1: or you're spreading your ads on another property. It's a

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Speaker 1: little bit more complex for them, But it just allows

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Speaker 1: more consumers to watch the content they're making, which is

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Speaker 1: a net positive because they sell through so many other

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Speaker 1: things to the fans, whether it's going to the park

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Speaker 1: or products and such. So for Disney, the most important thing.

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Speaker 1: You know, I don't love Bob Chpeck, but he's proving

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Speaker 1: he's a great operator during difficult times. He's not an

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Speaker 1: exciting guy, but he's got the theme park, the profit

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Speaker 1: drivers of the business back, and the losses that they're

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Speaker 1: driving from Disney Plus will ultimately turned to gains over time.

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Speaker 1: So I think they're managing the business pretty well. And

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Speaker 1: and you know, there's no recession at Disneyland. I can

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Speaker 1: tell you that. So what are you looking for in

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Speaker 1: the coming quarter? Obviously, when it comes to streaming, it

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Speaker 1: all comes down to content. Of course, Disney has a

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Speaker 1: huge library, but you know, there's been some concern about

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Speaker 1: how much of the content will continue to appeal to adults,

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Speaker 1: something that Netflix, uh maybe doing a little bit better.

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Speaker 1: You know, how do you think about those two players

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Speaker 1: in a rapidly evolving streaming environment. So so I'm still

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Speaker 1: having trouble calling myself an adult, even though I'm one

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Speaker 1: and a half um and as an adult, I watched

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Speaker 1: Disney Plus the minute you know, Obi Wan was a

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Speaker 1: great show. I mean the minute they dropped anything Star Wars,

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Speaker 1: I watch it. I you know what am I supposed

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Speaker 1: to do? So I don't think they have a lot

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Speaker 1: of trouble. And they've got Hulu for for really adult content,

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Speaker 1: but they just recently dropped some R rated movies onto

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Speaker 1: Disney Plus like Deadpool, which are a great content. But

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Speaker 1: you know, it's really a high quality set of assets

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Speaker 1: on Disney Plus, and Hulu is much more like television,

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Speaker 1: So they really are appealing to lots of different demos

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Speaker 1: and I don't think they lose the older demo at all.

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Speaker 1: And parents like me absolutely trust Disney content with my kids.

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Speaker 1: And you know, just recently I took YouTube away from

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Speaker 1: them because YouTube shorts has become the garbage hole of

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Speaker 1: hell and I don't want my kids watching garbage whole content,

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Speaker 1: and if I put it on Disney Plus, there's nothing

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Speaker 1: they can watch that's bad. So I think parents really

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Speaker 1: trust the brand and and and that's starting to really

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Speaker 1: pay off for them. That's quite a way to describe

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Speaker 1: YouTube kids as a mom. Can you can you expand

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Speaker 1: on that I'm not YouTube kids, YouTube shorts. You know,

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Speaker 1: they can expand on that. Yeah. See what's happened is

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Speaker 1: all that the creators on TikTok are now posting on

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Speaker 1: on YouTube shorts and YouTube shorts is basically TikTok. And

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Speaker 1: what they're getting now is lower quality content that now

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Speaker 1: switches between so many different topics where you know, I

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Speaker 1: monitor my kids YouTube because they watch gamers and and

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Speaker 1: they'll watch Unspeakable and that's fine, but then it will

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Speaker 1: flip them to a video of you know, like a

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Speaker 1: Russian flame ly, you know, exploiting their children, throwing them

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Speaker 1: in the pool or something. I'm like, what do you

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Speaker 1: what are you doing? You know, so with shorts, I

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Speaker 1: can't monitor it, and in two minutes it's it's a

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Speaker 1: garbage horoll of content. It's just garbage, Ross Gerber, we

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Speaker 1: never disappoint provocative as always. Thank you so much, Ross

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Speaker 1: for sharing your thoughts with us. CEO Gerber Kawasaki now

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Speaker 1: to a bloomberg scoop. Apple is stepping up and spending

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Speaker 1: on original podcast The Tech Giant, signing an agreement with

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Speaker 1: a Pulitzer Prize winning studio and holding talks with other

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Speaker 1: companies about more deals. According to Bloomberg sources, that deal

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Speaker 1: with Futuro Studios will fund development and production of podcasts,

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Speaker 1: and in exchange, Apple will have the first chance to

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Speaker 1: turn any podcast into a film or television show. Shortly

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Speaker 1: after cheasing the possibility of share buy backs, Elon Musk

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Speaker 1: has sold nearly seven billion dollars in Tesla, stuck Tesla

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Speaker 1: and Twitter shareholders, appearing to welcome the news. It is

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Speaker 1: Musk's biggest sale ever, and he says it's to avoid

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Speaker 1: a last minute sell off if he's forced to go

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Speaker 1: ahead with the deal to buy Twitter. Musk says he'll

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Speaker 1: buy Tesla shares again if the deal doesn't close. Meantime,

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Speaker 1: a number of people in Musk's inner circle have been

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Speaker 1: roped into this legal fight, among them Oracles, Larry Ellison,

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Speaker 1: venture capitalist Mark Andreson, as well as my next guest,

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Speaker 1: longtime tech investor and entrepreneur David Sacks of Craft Ventures. David,

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Speaker 1: good to have you back with us. So you got subpoena.

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Speaker 1: I know you said you were getting a lawyer to

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Speaker 1: try to make this go away. What's the latest on that?

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Speaker 1: Any update? Uh? No, no update there yet, but I

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Speaker 1: do have this very very large, very fraud subpoena. It's

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Speaker 1: probably the thickest subpoena I've ever gotten. And I'm I

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Speaker 1: know you're not supposed to talk about these things in

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Speaker 1: these situations, but I have to kind of wonder if

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Speaker 1: that's the point. Is I've been a vocal critic of

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Speaker 1: Twitter's management. Maybe they don't want me talking about these issues.

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Speaker 1: But look, I can just sort of save them a

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Speaker 1: lot of time and hopefully some some legal fees. Uh,

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Speaker 1: you know, I don't. I've never been in possession of

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Speaker 1: non public information related to their contract dispute with Ellen.

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Speaker 1: I've commented based on all the public information that's been

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Speaker 1: out there, and and I'm usually when I tweet, I'm

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Speaker 1: usually linking directly to that information that I'm commenting on.

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Speaker 1: So this is sort of a overly broad phishing expedition

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Speaker 1: and I look forward to hopefully being done with it soon.

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Speaker 1: So look, we all know you go way back with Ellen.

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Speaker 1: You work together at PayPal um, and you know you

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Speaker 1: have expressed support um for him, at least in the

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Speaker 1: last several months. When it comes to this Twitter deal.

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Speaker 1: Looking at some of your tweets, the big question is,

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Speaker 1: did you have any non public information. You talk about bots,

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Speaker 1: you talk about you, you suggest that Jack Dorsey masterminded

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Speaker 1: this whole thing. Is this all really just your opinion

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Speaker 1: or do you know something the public doesn't. No, I don't.

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Speaker 1: Um these look I'm a commentator. UM. You know I

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Speaker 1: do a paw that's I've been doing a pod for

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Speaker 1: a couple of years. I've been writing blog posts for years. Um,

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Speaker 1: I've been tweeting for years. I express my opinion on

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Speaker 1: these topics. This is all based on the public information,

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Speaker 1: which again in the screenshot that you're showing, I'm linking

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Speaker 1: to the public information that I'm reacting to. That was

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Speaker 1: a screenshot from a court filing that Elon's lawyers filed,

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Speaker 1: and those are the facts that I'm siting. So I'm

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Speaker 1: just a public commentator on this issue. Um. And you

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Speaker 1: know Twitter and Ellen they have a fully integrated merger

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Speaker 1: agreement that was negotiated by some of the best lawyers

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Speaker 1: in the world. I don't know what the relevance is

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Speaker 1: of my public commentary on a on a contract dispute

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Speaker 1: between them. It just doesn't make any sense. But lots

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Speaker 1: of people were kind of roped into this. You saw

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Speaker 1: that Joe Lonsdale tweeted that somehow he was roped into it,

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Speaker 1: despite his only connection being a few snarky comments. So,

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Speaker 1: I think this is just a very overbroad fishing expedition

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Speaker 1: type subpoena. But when you, you know, multiplied by the

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Speaker 1: number of people that they're uh that they're basically subpoena

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Speaker 1: ng it, it kind of amounts to harassment. So I

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Speaker 1: hope that the court will will limit will limit the suit.

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Speaker 1: You mentioned your podcast, You and You're All In pod

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Speaker 1: crew actually interviewed Musk a few months ago. I believe

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Speaker 1: at your summit. Have you had communications with him over

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Speaker 1: the last several months, private communications, and if so, you know,

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Speaker 1: do any of them pertain to the deal and could

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Speaker 1: it be at all relevant? Well, you're referring to an

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Speaker 1: interview we did in public at the All In summit,

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Speaker 1: and it's on YouTube as you want to go see it.

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Speaker 1: I mean the news that that interview did make some news,

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Speaker 1: but you can just go watch it to see. Um.

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Speaker 1: You know, the question is do I have relevant information

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Speaker 1: that pertains to this um contractual lawsuit? I don't think

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Speaker 1: I do. UM, there's just nothing that that I know

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Speaker 1: about this that wasn't already in the public sphere. What

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Speaker 1: I've really offered our opinions, my own opinions, and they're

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Speaker 1: not at anybody's behest or instigation or anything like that. Well,

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Speaker 1: and I don't don't know. I don't know why that.

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Speaker 1: I don't I don't know why that would be hard

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Speaker 1: for anyone to understand, because, as you all know, Emily,

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Speaker 1: I'm a person who hasn't been shy about expressing his

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Speaker 1: opinions over the years. Absolutely, and right here on the show. Look,

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Speaker 1: one concerned that you know, Twitter, Twitter might have is

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Speaker 1: that Ellen has been texting all of his friends and

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Speaker 1: asking them to tweet about bots. Um. You know what,

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Speaker 1: what's your response to that, even though these people might

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Speaker 1: not necessarily know or have any expert data or you know,

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Speaker 1: spec show information about Twitter spot issues. No, I mean,

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Speaker 1: like I said, none of this is at Elon's instigation

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Speaker 1: or behest Um. It seems to me that Twitter does

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Speaker 1: have a body issue based on my own users of

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Speaker 1: the site. I mean, I remember, in particular, when I

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Speaker 1: was tweeting about, for example, the Ukraine War, all of

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Speaker 1: a sudden, these brand new accounts that had just been

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Speaker 1: created with zero followers, they were you know, started in

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Speaker 1: whatever March of this year. There all of a sudden,

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Speaker 1: we're tweeting things back at me, and it felt like

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Speaker 1: all of a sudden they were trying to drown me out.

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Speaker 1: There's many examples like that. So you know, the information

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Speaker 1: I'm relying on is what's come out publicly, and what

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Speaker 1: got revealed is that the way that Twitter determines whether

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Speaker 1: it has a body issue is that they're sampling a

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Speaker 1: hundred accounts today. I mean, in my view, that does

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Speaker 1: not sound sufficient. Now look, I'm not a statistician. This

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Speaker 1: is just my opinion. You know, I'm sure they'll call

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Speaker 1: sorts of expert witnesses, but in my in my view,

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Speaker 1: having operated companies before, if you have a serious issue

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Speaker 1: that could affect your company an excellential level, you do

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Speaker 1: more than just sort of statistically sample a hundred accounts

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Speaker 1: a day. That feels like a perfunctory exercise. So that's

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Speaker 1: basically when I tweeted, and you know, I linked to

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Speaker 1: the public information about this, and that's really all there

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Speaker 1: is to it. Elon Musk at a Tesla event last week,

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Speaker 1: had this to say about Twitter. Take a listen. I

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Speaker 1: do understand the product quite well, so I think I've

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Speaker 1: got a good sense of of where where to point

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Speaker 1: the engineering team Twitter to make it radically better. So

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Speaker 1: this is as he's still trying to get out of

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Speaker 1: the deal. What do you make of those remarks, Um, David.

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Speaker 1: If he is, like, say, the court forces him to

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Speaker 1: buy Twitter, what do you think he does with it?

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Speaker 1: Does he turn around and resell it or does he

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Speaker 1: stick with it and try to quote unquote fix it. Well,

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Speaker 1: I've always hoped that Ellen would buy Twitter. I mean,

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Speaker 1: let's be clear, I'm so I've supported the deal and

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Speaker 1: the idea of this deal, and I wanted it to

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Speaker 1: go through because I think it would be a societal

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Speaker 1: good if Ellen restored Twitter to being a free speech platform.

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Speaker 1: That's been my main interest in this whole thing, is

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Speaker 1: that I'd like to see uh censorship restrained and free

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Speaker 1: speech restored on a major social network like Twitter. So

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Speaker 1: I've always hoped that this deal will go through. At

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Speaker 1: the same time, I've taken Ellen and his word when

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Speaker 1: he tweeted that there's this body issue, that that is

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Speaker 1: a serious issue, and you know, he has tried to

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Speaker 1: get to the bombom of it, and it seems like

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Speaker 1: Twitter hasn't been fully transparent about that, and so I

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Speaker 1: can understand that issue from his point of view. I

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Speaker 1: want to get your thoughts on another issue having to

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Speaker 1: do with social media. We've got this hashtag civil war

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Speaker 1: now trending on social media after the FBI searched Trump's

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Speaker 1: moral lago property. As you've you've talked about many times

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Speaker 1: on this show and in your writing, you are a

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Speaker 1: free speech advocate, a free speech advocate on social media.

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Speaker 1: But in this particular case, how do you think these

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Speaker 1: platforms Twitter, read It, et cetera should handle something like this. Well,

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Speaker 1: first of all, I would just if anyone is calling

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Speaker 1: for violence, I would condemn that, and in fact, you

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Speaker 1: could take down any post that is trying to incite

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Speaker 1: violence or a crime. The content like that is not

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Speaker 1: protected under the First Amendment. So even as a probe,

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Speaker 1: you think the hashtag in itself, like anything with that

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Speaker 1: hashtag should be taken No that that that The last

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Speaker 1: what I was about to go with this is is

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Speaker 1: saying is to say, look, first of all, you can

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Speaker 1: take down, um, you know, content that would seek to

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Speaker 1: incite violence and be consistent with the First Amendment. However,

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Speaker 1: I don't think that's what this hashtag is necessarily doing.

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Speaker 1: What I see is that people on the right are

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Speaker 1: criticizing this raid on our lago, on President Trump's private home,

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Speaker 1: in which thirty FBI agents who are dressed up as soldiers,

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Speaker 1: wearing body armor and carrying, you know, a R fifteen

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Speaker 1: weapons of war with their fingers just outside the trigger guard.

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Speaker 1: I mean, it looked like a raid of something like, um,

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Speaker 1: you know, Pablo Escobar's home. They're wondering whether this is

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Speaker 1: the whether this is the beginning of a civil war,

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Speaker 1: whether civil war is being declared on them, And I

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Speaker 1: think that's a legitimate question to ask, and you've got

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Speaker 1: to see it in the context of not just this event,

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Speaker 1: but things have been happening for the last nineteen months.

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Speaker 1: I mean, you've had draconian COVID policies that have given

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Speaker 1: unelected bureaucrats ticutorial powers. Even here in California, Gavin Newsom

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Speaker 1: as still ruling in their state of emergency. You've got

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Speaker 1: the Department of Homeland Security, which is a law enforcement agency.

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Speaker 1: They redefined misinformation as terrorism, and then they hired a

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Speaker 1: Democratic Party operative to run a new agency, a sort

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Speaker 1: of Ministry of truth, devoted to defining what that misinformation

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Speaker 1: would be. And now you got this raid on President

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Speaker 1: Trump's home, which is utterly unprecedented. And you know, I

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Speaker 1: think I don't know what ultimately this was about, but

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Speaker 1: I do think that these agencies deserve the public deserves

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Speaker 1: an explanation from these agencies in terms of what they

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Speaker 1: were after and what they were doing. All right, well, uh,

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Speaker 1: once again you expressing your opinions. I should just underscore, um.

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Speaker 1: But David always appreciate hearing your thoughts here on the show, UM,

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Speaker 1: and will continue to follow h this Twitter story and more.

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Speaker 1: Craft Ncher's general partner, David Zaxs appreciate it. Coming up

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Speaker 1: much more of Bloomberg Technology. Stay with us. This is Bloomberg.

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Speaker 1: Another story we're watching. Samsung just unveiled the latest generation

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Speaker 1: of foldable phones. The new Galaxy Z Fold four and

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Speaker 1: Flip four, come with a suite of incremental upgrades. Upgraded cameras,

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Speaker 1: a more adorable display, a slimmer hinge. Samsung kept prices

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Speaker 1: the same despite surging costs of materials and shipping. Prices

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Speaker 1: are going to go up though for Samsung's accessory Climer. Well.

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Speaker 1: Come back to Bloomer Technology. Emily changing in San Francisco.

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Speaker 1: I want to get back to earnings and shows of

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Speaker 1: Sons after hours, I'd let they're back with us, and yeah,

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Speaker 1: not good news. Sons down almost twenty percent, that's right,

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Speaker 1: and twenty percent in after hours. They cut their full

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Speaker 1: year of sales outlook to one point seven three to

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Speaker 1: one point seven six billion. They previously forecast one point

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Speaker 1: nine five billion to two billion dollars. And they're listing

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Speaker 1: every single thing we've already heard in this earning season

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Speaker 1: in terms of what's going wrong here. A stronger dollar

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Speaker 1: is hurting consumers in all kinds of markets around the world.

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Speaker 1: Inflation is putting off consumer spending. But they're also citing

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Speaker 1: some elements of shifting consumer behaviors, CEO Patrick Spence saying

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Speaker 1: that they're seeing consumers spend less on goods, more on

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Speaker 1: services and travel. They're also hurt by supply chain and

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Speaker 1: a backlog. They basically had miss sales opportunities in the

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Speaker 1: quarter because the supply chain for their hardware has still

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Speaker 1: not fixed itself. So real severe reaction here and after ours.

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Speaker 1: I mean, this was a stock that has suffered anyway

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Speaker 1: down year to date, but there was some hope that

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Speaker 1: you know, at least on the supply side, so Nose

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Speaker 1: could have improved things. They also recently, for example, launched

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Speaker 1: their own version of Alexa and a voice recognition to

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Speaker 1: compete in that market. But as we know, they're very

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Speaker 1: sensitive to what Amazon is doing as well. This is

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Speaker 1: not good news for Sons. Really severe reaction after ours,

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Speaker 1: one will look at on Thursday as well. All right,

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Speaker 1: thank you. Meantime, as the pandemic has ammed, that means

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Speaker 1: less time playing games and add to that rising prices

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Speaker 1: and also less money being spent in game purchases, dressing

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Speaker 1: up avatars and such. That's left some game publishers, console

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Speaker 1: and PC makers struggling to maintain the surge and growth

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Speaker 1: seen during the pandemic. Enter Roadblocks, which just reported bookings

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Speaker 1: that were disappointing to some, but the company is still

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Speaker 1: growing and expanding into the metaverse. I want to bring

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Speaker 1: in Roadblocks CEO and co founder David Buzuki now for

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Speaker 1: more on that. David, great to have you back with

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Speaker 1: us in an exclusive interview. Look, there's no question the

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Speaker 1: macro environment has been tough for a lot of companies,

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Speaker 1: tech companies and gaming companies in particular. How are you

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Speaker 1: seeing these macro economic forces impact Roadblocks in particular. Hey, Emily,

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Speaker 1: thank you for having us on the show, and we

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Speaker 1: reach out to everyone who's having a tough time in

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Speaker 1: these economic times. Roadblocks just had our biggest month in

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Speaker 1: history as far as engagement, as far as users in

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Speaker 1: the US and Canada, around the world, and in all

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Speaker 1: age demographics, and we are not pointed at all. We

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Speaker 1: had an amazing July and a wonderful Q two. I

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Speaker 1: think what it highlights is that Roadblocks is not a game,

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Speaker 1: or maybe even not a game platform. It's a immersive

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Speaker 1: human experience platform where people come together to play, but

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Speaker 1: they come together to learn, they come together to go

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Speaker 1: to concerts, and ultimately the type of technology we're working

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Speaker 1: on is almost more of a utility that people use

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Speaker 1: in their daily lives. Your fastest demographic in the US

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Speaker 1: and Canada at least is actually, you know, seventeen to

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Speaker 1: twenty four years old, outpacing the younger kids. You know,

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Speaker 1: my my son, as I've talked with you about, who's

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Speaker 1: in that younger cohort and loves playing Roadbox. What do

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Speaker 1: you think is driving that. We've always had the vision

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Speaker 1: that Roadblocks is a civil platform for people of all ages.

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Speaker 1: It brings them together, allows them to connect authentically, to

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Speaker 1: do things together, whether it's playing, whether it dissecting a

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Speaker 1: frog in school, whether it's graduating from high school. And

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Speaker 1: I think what we're seeing is as the players on

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Speaker 1: Roadblocks get older, they're inviting friends. This is this growth

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Speaker 1: in seventeen through twenty four is driven by three three things. Really.

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Speaker 1: One is amazing content. Almost half of the content on

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Speaker 1: Roadblocks is now played more by over thirteen players than

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Speaker 1: under third team players. Is driven by the core virility

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Speaker 1: of our platform as driven by constant technical innovation, new

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Speaker 1: amazing things around avatars, around immersive UM, layered clothing that

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Speaker 1: allows people to be more closely identified with who they

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Speaker 1: want to be, uh, spatial audio that we rolled out,

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Speaker 1: higher fidelity materials. So it's is really a bunch of

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Speaker 1: things driving this growth. How is engagement and monetization different

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Speaker 1: for a slightly older age cohort? Yeah, what is UM.

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Speaker 1: What's interesting is we've been monetizing very well across all ages.

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Speaker 1: One can imagine as we start looking at older demographics,

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Speaker 1: they do generally tend to spend more money online. And

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Speaker 1: some of the products we are working on right now

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Speaker 1: that we've hinted on including a visionary ad server product

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Speaker 1: that's immersive and native and actually feels fun rather than

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Speaker 1: getting in the way of our players. Those types of

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Speaker 1: things typically tend to monetize better with older players. So

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Speaker 1: there's really a huge future for our platform, not just

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Speaker 1: around the world, but as we get more and more

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Speaker 1: older players on the platform. Now you keet in on

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Speaker 1: the disappointment among some analysts and investors earlier, and you

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Speaker 1: have always talked about a grand vision, these seven big

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Speaker 1: inventions that are going to take years and years potentially

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Speaker 1: to play out. How do you convince investors who might

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Speaker 1: have a shorter term time horizon to stick around. Yeah, Um,

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Speaker 1: what's really interesting think of the engagement. July the biggest

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Speaker 1: month we've ever had, four point seven billion hours of

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Speaker 1: engagement on our platform. Fifty eight point five million daily

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Speaker 1: active users are thirteen and up. Cohort is growing at

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Speaker 1: over thirty six percent year on year, and traditionally as

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Speaker 1: we grow engagement, we grow monetization. There's enormous space uh

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Speaker 1: in countries like India and Japan in the cohort for

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Speaker 1: older players for us to continue growing along to our

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Speaker 1: vision really of connecting a billion people with optimism and stability.

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Speaker 1: You've expressed frustration at times about being measured against these

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Speaker 1: analysts estimates, And I'm curious given that you've waited so long.

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Speaker 1: I mean, Roadblocks was founded in the early two thousands,

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Speaker 1: you waited a long time to become a public company.

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Speaker 1: Do you have any regrets about going public or has

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Speaker 1: going public benefited Roadblocks? Yeah? Well, to be clear, I

426
00:25:03,760 --> 00:25:06,840
Speaker 1: don't think I've ever expressed any frustration at any analysts.

427
00:25:06,840 --> 00:25:09,520
Speaker 1: I think they're all trying to do our job. We

428
00:25:09,560 --> 00:25:13,639
Speaker 1: do keep optimistically talking about the size of the potential

429
00:25:13,680 --> 00:25:17,360
Speaker 1: market here. We keep talking about the amazing people were

430
00:25:17,400 --> 00:25:20,000
Speaker 1: bringing on board. I just want to highlight our business

431
00:25:20,080 --> 00:25:23,840
Speaker 1: model is robust enough that we're continuing to hire amazing

432
00:25:23,880 --> 00:25:26,680
Speaker 1: people through the midst of what is for many people

433
00:25:26,680 --> 00:25:30,560
Speaker 1: a difficult time. And we have absolutely no regrets about

434
00:25:30,560 --> 00:25:33,400
Speaker 1: going public. We run our business exactly the same now

435
00:25:33,440 --> 00:25:37,840
Speaker 1: as we used to before we were public. Given the

436
00:25:37,880 --> 00:25:41,439
Speaker 1: macro environment, how are you thinking about spending you know,

437
00:25:41,760 --> 00:25:43,920
Speaker 1: you know, I spoke to Apple CEO Tim Cookie used

438
00:25:43,960 --> 00:25:47,000
Speaker 1: the word deliberate. They're being very deliberate about spending, deliberate

439
00:25:47,000 --> 00:25:50,600
Speaker 1: about hiring. We're seeing layoffs and cutbacks at other companies.

440
00:25:51,000 --> 00:25:53,520
Speaker 1: Are you stepping on the gas or or or pulling

441
00:25:53,520 --> 00:25:57,280
Speaker 1: on the brakes? We are being consistent. We're hiring at

442
00:25:57,280 --> 00:25:59,040
Speaker 1: the same rate in the second half of the year

443
00:25:59,240 --> 00:26:01,600
Speaker 1: as we were in the first half. We're very We've

444
00:26:01,640 --> 00:26:05,280
Speaker 1: always been very deliberate about our spending because everything we

445
00:26:05,400 --> 00:26:07,840
Speaker 1: spend is money that does not go back to our

446
00:26:08,000 --> 00:26:11,840
Speaker 1: developer community. We have amazing people who innovate at a

447
00:26:11,960 --> 00:26:15,919
Speaker 1: very rapid pace. We have a very efficient infrastructure, we

448
00:26:16,040 --> 00:26:19,440
Speaker 1: have a very wonderful trust and safety team. But as

449
00:26:19,520 --> 00:26:22,000
Speaker 1: much as possible, we're trying to be efficient so our

450
00:26:22,080 --> 00:26:25,320
Speaker 1: developers UM can take a bigger piece of that pie

451
00:26:25,440 --> 00:26:29,640
Speaker 1: and keep making amazing creations. You're planning to roll out

452
00:26:29,640 --> 00:26:33,359
Speaker 1: an immersive advertising system later this year. Can you give

453
00:26:33,440 --> 00:26:36,920
Speaker 1: us any more color on that. Yeah, this has been

454
00:26:36,960 --> 00:26:40,800
Speaker 1: a vision for a long time, the notion that when

455
00:26:40,840 --> 00:26:44,199
Speaker 1: we're together in a three D experience, we start to

456
00:26:44,200 --> 00:26:47,800
Speaker 1: see some of the interesting things like billboards or a

457
00:26:47,920 --> 00:26:51,359
Speaker 1: pop up store in the town square that UM we're

458
00:26:51,400 --> 00:26:54,840
Speaker 1: actually quite optimistic, based on the brands we work with,

459
00:26:55,440 --> 00:26:57,800
Speaker 1: that these will not feel like something that gets in

460
00:26:57,840 --> 00:27:00,679
Speaker 1: your way, but they will feel like something that's additive

461
00:27:00,720 --> 00:27:04,400
Speaker 1: to the Roadblocks experience. And the brands that that we

462
00:27:04,440 --> 00:27:08,199
Speaker 1: work closely with tend to be fun interesting brands like

463
00:27:08,240 --> 00:27:12,000
Speaker 1: Gucci Town which dis released I think in March and

464
00:27:12,040 --> 00:27:15,639
Speaker 1: had over thirty million visits, or Tommy Played from Tommy

465
00:27:15,720 --> 00:27:20,119
Speaker 1: Hill Finger, Wimbledon, Wimble World, Spotify Island. These are brands

466
00:27:20,160 --> 00:27:23,160
Speaker 1: is that we think actually enhanced the experience, and we'll

467
00:27:23,200 --> 00:27:28,440
Speaker 1: integrate in with this submersive advertising system. Alright, Roadblocks CEO

468
00:27:28,600 --> 00:27:30,560
Speaker 1: and co founder David Puzuki. David, great to have you

469
00:27:30,600 --> 00:27:33,320
Speaker 1: back with us. Thanks, thank you. A bit busy earnings,

470
00:27:33,359 --> 00:27:37,720
Speaker 1: we can appreciate it. Okay, coming up crypto rallies on

471
00:27:37,760 --> 00:27:39,800
Speaker 1: the new CPI report, But is it to last? And

472
00:27:40,000 --> 00:27:42,119
Speaker 1: who are the leaders of the rally? We'll warn that

473
00:27:42,480 --> 00:28:04,160
Speaker 1: next Mrs Bloomer, It's time now for our crypto report

474
00:28:04,160 --> 00:28:09,880
Speaker 1: and cryptocurrency surge. After a softer than inflected expected inflation number,

475
00:28:09,920 --> 00:28:13,000
Speaker 1: with the CPI increasing eight and a half percent in

476
00:28:13,119 --> 00:28:15,920
Speaker 1: July from a year earlier, cooling from that nine point

477
00:28:15,960 --> 00:28:18,399
Speaker 1: one percent back in June which was the largest in

478
00:28:18,440 --> 00:28:22,720
Speaker 1: four decades, bloombergs Katie Greifeld here for more, Katie, any

479
00:28:22,760 --> 00:28:26,359
Speaker 1: crypto winners in this rally. Basically the whole space was

480
00:28:26,400 --> 00:28:29,480
Speaker 1: winning today. If you look across your crypt go screen

481
00:28:29,560 --> 00:28:33,000
Speaker 1: on the terminal, it all comes back to Bitcoin, of course,

482
00:28:33,040 --> 00:28:36,320
Speaker 1: the largest cryptocurrency out there, having a fantastic day, up

483
00:28:36,359 --> 00:28:39,320
Speaker 1: over three percent on Wednesday. Of course, that ties back

484
00:28:39,360 --> 00:28:41,120
Speaker 1: to the reaction we saw on the stock market. You

485
00:28:41,120 --> 00:28:44,000
Speaker 1: have the NASTAC one hundred up two point nine percent.

486
00:28:44,320 --> 00:28:46,440
Speaker 1: You can almost bet that Bitcoin is going to be

487
00:28:46,520 --> 00:28:49,080
Speaker 1: up as well, just given that very tight correlation, and

488
00:28:49,080 --> 00:28:51,920
Speaker 1: that all ties back to sort of wagers that the

489
00:28:51,920 --> 00:28:54,640
Speaker 1: Fed is going to have to be less aggressive than

490
00:28:55,080 --> 00:28:57,960
Speaker 1: maybe feared, and you saw that reflected in the bond

491
00:28:57,960 --> 00:29:00,360
Speaker 1: market as well. But Bitcoin, you're big one. You also

492
00:29:00,360 --> 00:29:05,520
Speaker 1: had Ethereum rallying very strongly, up almost nine percent again

493
00:29:05,640 --> 00:29:07,680
Speaker 1: on Wednesday alone. As you can see in that chart,

494
00:29:07,720 --> 00:29:10,040
Speaker 1: it has had quite the run over the past month

495
00:29:10,120 --> 00:29:12,400
Speaker 1: and a half or so. But there is some fundamentals

496
00:29:12,440 --> 00:29:15,760
Speaker 1: news there. Of course, as we await the merge, all

497
00:29:15,800 --> 00:29:18,120
Speaker 1: this coming up. As you say, ahead of the merge,

498
00:29:18,560 --> 00:29:21,840
Speaker 1: you know, how are investors bracing for this and is

499
00:29:21,880 --> 00:29:24,560
Speaker 1: it really gonna happen. It's a great question, a little

500
00:29:24,560 --> 00:29:28,520
Speaker 1: bit impossible to answer, so it's known as the merge.

501
00:29:28,520 --> 00:29:31,440
Speaker 1: It's a software update. Basically, we've been waiting for it

502
00:29:31,720 --> 00:29:33,840
Speaker 1: for a while. Theoretically it's going to happen in the

503
00:29:33,880 --> 00:29:37,120
Speaker 1: back half of this year. But what's important tonight actually

504
00:29:37,200 --> 00:29:40,160
Speaker 1: you're going to see the so called Girly tests, it's

505
00:29:40,160 --> 00:29:42,800
Speaker 1: a German word. It's scheduled to take place. It's basically

506
00:29:43,080 --> 00:29:45,720
Speaker 1: a test merge with the test network, and you have

507
00:29:45,760 --> 00:29:48,880
Speaker 1: analyst saying this is the final dress rehearsal before we

508
00:29:48,920 --> 00:29:51,680
Speaker 1: get to the actual merge. So that's what you're seeing

509
00:29:51,680 --> 00:29:54,920
Speaker 1: reflected in the price, just basically optimism that this test

510
00:29:54,960 --> 00:29:58,080
Speaker 1: will go well and maybe we'll get the actual merge

511
00:29:58,120 --> 00:30:02,680
Speaker 1: to follow soon. All. Katie Greifeld, thank you for that update.

512
00:30:12,560 --> 00:30:14,680
Speaker 1: I want to talk about Facebook now and how the

513
00:30:14,760 --> 00:30:18,120
Speaker 1: app was used recently in an abortion case. A woman

514
00:30:18,440 --> 00:30:22,040
Speaker 1: charged with two felonies related to an illegal abortion after

515
00:30:22,080 --> 00:30:27,560
Speaker 1: authorities discovered information about the pregnancy through private messages on

516
00:30:27,600 --> 00:30:31,680
Speaker 1: Facebook Messenger. This according to court documents, Jessica Burgess had

517
00:30:31,680 --> 00:30:34,640
Speaker 1: helped her seventeen year old daughter obtain abortion pills when

518
00:30:34,680 --> 00:30:37,240
Speaker 1: she was more than twenty weeks pregnant. Pregnant making a

519
00:30:37,360 --> 00:30:40,760
Speaker 1: termination of the pregnancy illegal in the state. Her daughter

520
00:30:41,040 --> 00:30:43,520
Speaker 1: also facing related charges. I want to bring in Bloomberg,

521
00:30:43,520 --> 00:30:47,160
Speaker 1: Sara Fryer now for more on this. So set the

522
00:30:47,200 --> 00:30:51,760
Speaker 1: stage a little bit here. What happened, Well, what happened

523
00:30:51,760 --> 00:30:53,960
Speaker 1: in the case, or what happened in in how do

524
00:30:54,040 --> 00:30:57,840
Speaker 1: they obtain these messages? Well, so this is not the

525
00:30:57,920 --> 00:31:01,120
Speaker 1: perfect case to look at when we're talking about whether

526
00:31:01,360 --> 00:31:04,800
Speaker 1: tech companies will give over dated to authorities. In the

527
00:31:04,800 --> 00:31:08,360
Speaker 1: post Row world, that has been a big concern. But

528
00:31:08,440 --> 00:31:11,960
Speaker 1: this case, actually the warrant for this information went out

529
00:31:11,960 --> 00:31:16,280
Speaker 1: to Facebook before the Row case, before Row was overturned,

530
00:31:16,680 --> 00:31:20,040
Speaker 1: and initially it didn't even ask or anything related to abortion.

531
00:31:20,440 --> 00:31:24,680
Speaker 1: It asked for these messages related to the improper treatment

532
00:31:24,720 --> 00:31:27,800
Speaker 1: of of skeletal remains. So that was really what was

533
00:31:27,880 --> 00:31:31,880
Speaker 1: what was at stake here. So Facebook, Facebook cooperated with that,

534
00:31:32,600 --> 00:31:36,560
Speaker 1: and then through that search they found these messages about

535
00:31:36,600 --> 00:31:40,360
Speaker 1: the abortion pill and then added those charges. Um so

536
00:31:40,360 --> 00:31:42,520
Speaker 1: so Facebook came up with the statement saying, listen, you know,

537
00:31:42,600 --> 00:31:45,440
Speaker 1: we didn't know this was about abortion. That statements seemed

538
00:31:45,440 --> 00:31:48,160
Speaker 1: to imply that, you know, they would have been hands

539
00:31:48,160 --> 00:31:50,120
Speaker 1: off if it was. I'm not sure that's the case.

540
00:31:50,240 --> 00:31:52,840
Speaker 1: So let's take a look at this statement. Um, this

541
00:31:52,960 --> 00:31:55,680
Speaker 1: is from Meta. The warrants concerned charges related to a

542
00:31:55,680 --> 00:31:58,800
Speaker 1: criminal investigation, and court documents indicate that police at the

543
00:31:58,800 --> 00:32:01,840
Speaker 1: time we're investigating the case of a stillboard baby who

544
00:32:01,960 --> 00:32:05,720
Speaker 1: was burned and buried, not a decision to have an abortion.

545
00:32:06,280 --> 00:32:09,960
Speaker 1: Both of these warrants were originally accompanied by nondisclosure orders

546
00:32:09,960 --> 00:32:12,920
Speaker 1: which prevented us from sharing any information about them. The

547
00:32:13,080 --> 00:32:16,120
Speaker 1: orders have now been lifted. So, as you say, this

548
00:32:16,160 --> 00:32:19,400
Speaker 1: statement begs the question if they believe this did had

549
00:32:19,440 --> 00:32:23,000
Speaker 1: to have to do with an abortion, that Facebook would

550
00:32:23,040 --> 00:32:27,040
Speaker 1: have done something differently, would they have Well, that's where

551
00:32:27,040 --> 00:32:29,640
Speaker 1: I think they need to bring out some clarification, because

552
00:32:29,760 --> 00:32:31,640
Speaker 1: that is what if you read between the lines of

553
00:32:31,640 --> 00:32:33,640
Speaker 1: the statement, that's what it's implying. But I don't think

554
00:32:33,640 --> 00:32:36,400
Speaker 1: that that's what's going to happen. I mean, tech companies

555
00:32:36,720 --> 00:32:39,000
Speaker 1: do tend to comply with the law and states where

556
00:32:39,000 --> 00:32:41,320
Speaker 1: it is the law. Otherwise they can't operate their their

557
00:32:41,440 --> 00:32:45,760
Speaker 1: business comes under risk. And so I think we're going

558
00:32:45,800 --> 00:32:48,720
Speaker 1: to see many, many cases where it's not even clear

559
00:32:48,760 --> 00:32:52,040
Speaker 1: in the warrant that they're searching for abortion related data,

560
00:32:52,640 --> 00:32:55,600
Speaker 1: and it's going to be up to companies like Facebook,

561
00:32:55,640 --> 00:32:58,760
Speaker 1: and Facebook has come out and said this in the past, Um,

562
00:32:58,800 --> 00:33:00,200
Speaker 1: it's going to be up to them to make sure

563
00:33:00,240 --> 00:33:02,680
Speaker 1: that those requests are not overly broad, that they have

564
00:33:03,120 --> 00:33:07,080
Speaker 1: some sort of legal parameters that they're following, that it's

565
00:33:07,120 --> 00:33:11,600
Speaker 1: not just uh, you know, wild goose chase through Facebook

566
00:33:11,600 --> 00:33:15,080
Speaker 1: messages to try to find something to convictivity, and then

567
00:33:15,400 --> 00:33:18,120
Speaker 1: that they let users know when their data has been requested.

568
00:33:18,160 --> 00:33:20,360
Speaker 1: And so that's been the line from the company. They're

569
00:33:20,360 --> 00:33:23,280
Speaker 1: not coming out and saying either way whether they would

570
00:33:23,480 --> 00:33:26,800
Speaker 1: cooperate with authorities on abortion cases. Of my guess is

571
00:33:26,800 --> 00:33:28,720
Speaker 1: is a lot of the companies will end up having

572
00:33:28,760 --> 00:33:32,640
Speaker 1: to do that. So this um brings back the case

573
00:33:32,680 --> 00:33:38,280
Speaker 1: of the San Bernardino shooter back in December, Apple refused

574
00:33:38,320 --> 00:33:44,640
Speaker 1: to turn over the shooter's iPhone. This is twelve people. Um,

575
00:33:44,680 --> 00:33:49,160
Speaker 1: how do you compare this to that standoff? Well, I

576
00:33:49,200 --> 00:33:52,600
Speaker 1: think we haven't seen a lot of tech companies standing

577
00:33:52,640 --> 00:33:56,640
Speaker 1: up to law enforcement in the in the time since

578
00:33:56,720 --> 00:33:59,000
Speaker 1: they just put those parameters around like we don't want

579
00:33:59,040 --> 00:34:01,040
Speaker 1: to we don't want to use ors to you know,

580
00:34:01,240 --> 00:34:03,000
Speaker 1: we don't want to just have a back door to

581
00:34:03,120 --> 00:34:05,360
Speaker 1: all of the messages that they ever send, and the

582
00:34:05,400 --> 00:34:09,040
Speaker 1: tech companies have worked on things Apple included on encryption,

583
00:34:09,080 --> 00:34:11,440
Speaker 1: on making sure that there's a private way for people

584
00:34:11,440 --> 00:34:15,839
Speaker 1: to send messages. So I think while this gets cleared up,

585
00:34:16,160 --> 00:34:19,360
Speaker 1: the best advice for anyone using any tech product is

586
00:34:19,360 --> 00:34:22,560
Speaker 1: to use an encrypted messaging service if you're going to

587
00:34:22,640 --> 00:34:25,239
Speaker 1: whether it's whether it's Signal or WhatsApp or so, right,

588
00:34:25,480 --> 00:34:29,920
Speaker 1: what's that better? That's it's better a messenger for the

589
00:34:29,960 --> 00:34:32,160
Speaker 1: most part. But Vestor does now have an option to

590
00:34:32,200 --> 00:34:37,040
Speaker 1: send encrypted messages. And the point from the companies that

591
00:34:37,120 --> 00:34:39,359
Speaker 1: would be like, we can't give this message to law

592
00:34:39,440 --> 00:34:41,759
Speaker 1: enforcement because it doesn't exist on our servers. All right,

593
00:34:41,880 --> 00:34:45,759
Speaker 1: So a couple of things this this happened with Facebook before,

594
00:34:45,800 --> 00:34:49,640
Speaker 1: where was overturned um uh And a number of big

595
00:34:49,680 --> 00:34:54,320
Speaker 1: tech companies, of course have a lot of information. You

596
00:34:55,040 --> 00:34:59,600
Speaker 1: think about your Gmail than everything. What are these companies

597
00:34:59,640 --> 00:35:05,320
Speaker 1: do if law enforcement comes at them and ask for emails, texts,

598
00:35:05,520 --> 00:35:11,160
Speaker 1: the company's messages, search history, um buying history. The companies

599
00:35:11,200 --> 00:35:14,000
Speaker 1: have been mum on it because there hasn't been a

600
00:35:14,080 --> 00:35:17,000
Speaker 1: perfect case to rally around. And I think what's happening

601
00:35:17,040 --> 00:35:18,880
Speaker 1: with this case is people are looking at and saying

602
00:35:18,880 --> 00:35:23,040
Speaker 1: like oh abortion messages from Facebook, like Facebook's you know,

603
00:35:23,600 --> 00:35:26,680
Speaker 1: giving giving it up to law enforcement, endangering a woman

604
00:35:26,719 --> 00:35:29,080
Speaker 1: who needs an abortion. But then when you look at

605
00:35:29,080 --> 00:35:32,160
Speaker 1: the details, it gets murkier because it's after twenty weeks

606
00:35:32,160 --> 00:35:34,319
Speaker 1: in the state where it's legal. There um, there was,

607
00:35:34,600 --> 00:35:37,359
Speaker 1: there was, you know, burial of the body. I don't

608
00:35:37,360 --> 00:35:38,960
Speaker 1: know if I want to go into the details are

609
00:35:39,000 --> 00:35:42,520
Speaker 1: a little too dark to even go into on air. Um.

610
00:35:42,600 --> 00:35:47,080
Speaker 1: But but I think that the the case is not

611
00:35:47,360 --> 00:35:50,280
Speaker 1: the one that privacy advocates probably want to rally around.

612
00:35:50,880 --> 00:35:56,000
Speaker 1: It's it's not um, it is just it is just

613
00:35:56,560 --> 00:35:59,520
Speaker 1: an indicator of how murky each one of these things

614
00:35:59,520 --> 00:36:01,960
Speaker 1: is going to. There's never going to be a perfect,

615
00:36:03,080 --> 00:36:06,560
Speaker 1: clean cut decision where you can say like this is

616
00:36:06,600 --> 00:36:09,080
Speaker 1: not an area where we're going to cooperate, or we

617
00:36:09,120 --> 00:36:11,719
Speaker 1: are definitely going to operate in every case. What's your

618
00:36:11,760 --> 00:36:15,360
Speaker 1: sense of whether this Nebraska case could create a precedent

619
00:36:15,719 --> 00:36:19,080
Speaker 1: for what happens in these cases when these requests are

620
00:36:19,120 --> 00:36:21,800
Speaker 1: made by law enforcement. Well, the problem is every state

621
00:36:21,920 --> 00:36:24,640
Speaker 1: is changing their laws in this moment. Right in the

622
00:36:24,680 --> 00:36:29,280
Speaker 1: past few weeks, we've seen abortion get limited, restricted, um,

623
00:36:29,600 --> 00:36:33,239
Speaker 1: criminalize people who help out with abortions in some in

624
00:36:33,360 --> 00:36:36,560
Speaker 1: some states, whether even it's just having knowledge that they exist,

625
00:36:37,040 --> 00:36:39,960
Speaker 1: it can be UM can lead people to legal liability.

626
00:36:40,239 --> 00:36:43,279
Speaker 1: So I think that it's opening up UM liability for

627
00:36:43,400 --> 00:36:46,880
Speaker 1: users of these platforms beyond even just UM patients who

628
00:36:46,920 --> 00:36:48,799
Speaker 1: might get abortions. So I do think that this is

629
00:36:48,840 --> 00:36:51,279
Speaker 1: a very big area that we need to continue to

630
00:36:51,280 --> 00:36:57,480
Speaker 1: look at because UM, if companies continues to just blanketly

631
00:36:57,680 --> 00:37:01,279
Speaker 1: comply with law, enforce wherever wherever, those UM users of

632
00:37:01,320 --> 00:37:04,080
Speaker 1: these platforms are going to get increasingly concerned about their

633
00:37:04,120 --> 00:37:09,760
Speaker 1: privacy and UM their ability to conduct normal everyday business. Alright,

634
00:37:10,200 --> 00:37:14,960
Speaker 1: very complicated, nuanced issue. Sarah Fire, thank you for helping

635
00:37:15,040 --> 00:37:18,000
Speaker 1: us wade through all of that. I appreciate it. And

636
00:37:18,080 --> 00:37:20,800
Speaker 1: that does it. For the edition of Bloomberg Technology coming

637
00:37:20,880 --> 00:37:23,560
Speaker 1: up Thursday, I'll be sitting down with the new CEO

638
00:37:23,880 --> 00:37:26,839
Speaker 1: of pinter Us, Bill Ready, is joining us for an

639
00:37:26,880 --> 00:37:31,759
Speaker 1: exclusive conversation about his first month on the job. This

640
00:37:31,920 --> 00:37:32,520
Speaker 1: is Bloomberg