WEBVTT - Robotaxis Expand and Microsoft Gets Probed 0:00:01.760 --> 0:00:07.040 From Marhart where Innovation, Money and power Collie in Silicon Valley, NBN. 0:00:07.360 --> 0:00:10.840 This is Bloomberg Technology with Caroline Hide. 0:00:10.480 --> 0:00:28.280 And Ed Lovelove, Iurmed Ludlow Here in San Francisco, Caroline 0:00:28.320 --> 0:00:31.560 hides off today. This is Bloomberg Technology coming up on 0:00:31.600 --> 0:00:35.560 the program. Robotaxis get a big win in San Francisco, 0:00:35.640 --> 0:00:39.480 Crucio Carl Vote joins me live on set as regulators 0:00:39.560 --> 0:00:42.640 votes to allow his company and Google's Weimo to truly 0:00:42.720 --> 0:00:46.920 commercialize their tech here in SF and a Bloomberg exclusive, 0:00:46.960 --> 0:00:51.080 a government probe into malicious attacks on cloud computing, including 0:00:51.159 --> 0:00:55.320 Microsoft's role in suspected Chinese hacking of government officials. We 0:00:55.400 --> 0:00:58.600 have the details, and the aviation sector is about to 0:00:58.600 --> 0:01:02.040 hand passengers a five trillion dollar bill to fight its 0:01:02.080 --> 0:01:06.600 next big threat, decarbonization. We have the Bloomberg Big Big 0:01:06.640 --> 0:01:08.880 take all right, straight to our top story. 0:01:08.880 --> 0:01:11.000 San Franciscan's get ready because you're. 0:01:10.840 --> 0:01:14.880 About to see even more robotaxis on the streets. California 0:01:14.920 --> 0:01:19.680 regulators just voted in favor of Waymo and Cruz expanding 0:01:19.720 --> 0:01:22.600 their paid driverless services in the city. 0:01:22.640 --> 0:01:23.560 It's a major. 0:01:23.280 --> 0:01:27.880 Milestone towards commercializing the technology. The ruling came after hours 0:01:28.280 --> 0:01:31.959 of public testimony with citizens arguing for and against the 0:01:32.080 --> 0:01:35.039 expansion of the Robotaxi company's services. 0:01:35.080 --> 0:01:36.119 The two companies can. 0:01:35.959 --> 0:01:41.760 Now run full truly driverless commercial services, charging faares day 0:01:41.760 --> 0:01:44.520 and night here in San Francisco. 0:01:44.600 --> 0:01:47.520 The CEO of Cruz, Kyle Vote, joins me. 0:01:47.560 --> 0:01:51.640 Now, Kyle, welcome to Bloomberg Technology. Thanks d How do 0:01:51.640 --> 0:01:54.800 you operationalize this? Let's get right to it. It's gone 0:01:54.840 --> 0:01:56.960 in your favor. What happens next? 0:01:56.960 --> 0:01:58.320 What do you do well? 0:01:58.360 --> 0:02:01.040 So it's a big year of scaling for us. 0:02:01.080 --> 0:02:03.360 So over the past several months we've ramped up our 0:02:03.400 --> 0:02:06.200 operations in a very measured and careful way as we 0:02:06.240 --> 0:02:08.720 see the performance of these abs improve on the road. 0:02:09.080 --> 0:02:11.680 And so the big difference with yesterday's permit, which is 0:02:11.720 --> 0:02:14.480 the sixth one we've got in California, the final one 0:02:14.520 --> 0:02:17.720 needed to commercialize our services. We can convert that service 0:02:17.720 --> 0:02:20.000 from a pre service to a fared service. And so 0:02:20.040 --> 0:02:22.000 it's a big milestone for not just us, but the 0:02:22.639 --> 0:02:25.120 av industry, and I think a signal for you know, 0:02:25.160 --> 0:02:29.320 California that we are going to prioritize progress versus accepting 0:02:29.320 --> 0:02:31.239 the tragedy of the status quo on our roads today? 0:02:31.280 --> 0:02:34.360 How strong is the signal? I tweeted or xed that 0:02:34.400 --> 0:02:37.120 you're coming on the program. And actually, a really fair 0:02:37.200 --> 0:02:40.760 question I got in response was why did the CPUC 0:02:41.120 --> 0:02:43.760 just do San Francisco. Why not say to cruise or 0:02:43.840 --> 0:02:47.119 weai moo have at it in Los Angeles, Sacramento, any 0:02:47.120 --> 0:02:48.160 other city in the state. 0:02:48.840 --> 0:02:50.200 That was actually at our direction. 0:02:50.280 --> 0:02:52.440 What we've been working with regulators, you know, like I said, 0:02:52.480 --> 0:02:54.400 for years now, and the very first time we went 0:02:54.440 --> 0:02:57.040 to the CPUC for FARED service, it was for a 0:02:57.080 --> 0:03:00.160 small region of San Francisco, a limited number of cars, 0:03:00.200 --> 0:03:02.399 so we could you know, work with regulators and show 0:03:02.400 --> 0:03:04.600 them that this technology was ready. And so this is 0:03:04.639 --> 0:03:07.120 actually the second time we've gone for a farired permit, 0:03:07.160 --> 0:03:09.640 and this is an expansion of that original permit, and 0:03:09.680 --> 0:03:11.560 we'll do the same later this year or perhaps next 0:03:11.600 --> 0:03:14.280 year when we expand into California and other cities in 0:03:14.320 --> 0:03:14.720 the states. 0:03:14.800 --> 0:03:17.760 So why is San Francisco, Why is this the place 0:03:18.440 --> 0:03:22.600 to not just test the technology but commercialize the business. 0:03:22.919 --> 0:03:25.359 Well, you know, candidate, like, we're based here in San Francisco, 0:03:25.440 --> 0:03:28.000 so this is our home territory. But we see San 0:03:28.040 --> 0:03:32.359 Francisco as a litmus test for the commercialization of robosaxies. 0:03:32.680 --> 0:03:35.240 If they work in a city like San Francisco, where 0:03:35.280 --> 0:03:39.360 we have high population density, you know, steep hills, heavy fog, 0:03:39.520 --> 0:03:41.920 a lot of a lot of tricky construction and other things, 0:03:42.160 --> 0:03:44.080 then that means it can work in many other cities 0:03:44.080 --> 0:03:47.320 across similar cities across the US. And of course, you know, 0:03:47.360 --> 0:03:49.960 from a business standpoint, these are the early days of 0:03:50.000 --> 0:03:50.760 the technology. 0:03:51.040 --> 0:03:51.720 These vehicles. 0:03:51.760 --> 0:03:54.160 The first version is always more expensive than later ones, 0:03:54.240 --> 0:03:56.160 and we want to start in cities where there's a 0:03:56.240 --> 0:03:58.360 high willingness to pay. So we'll see us start in 0:03:58.680 --> 0:04:00.760 some of the major cities before we work out into 0:04:00.840 --> 0:04:01.920 into some of the other cities. 0:04:02.200 --> 0:04:03.880 What about money in your pocket now? 0:04:04.520 --> 0:04:06.320 You know, I know the weight list is in the 0:04:06.440 --> 0:04:09.840 tens of thousands, so you are able to charge a 0:04:09.920 --> 0:04:12.960 fair you on board the weight list? Does that bring 0:04:13.000 --> 0:04:16.040 in sort of meaningful revenue for you guys, Because I'm 0:04:16.040 --> 0:04:17.840 going to get into the history of your company a second, 0:04:17.839 --> 0:04:20.479 but I am interested in how quick the impact of 0:04:20.480 --> 0:04:22.360 being able to charge a fair is. 0:04:23.040 --> 0:04:23.280 Well. 0:04:23.839 --> 0:04:25.960 You know, you know today we're still operating in relatively 0:04:26.040 --> 0:04:28.839 small scale. You know, it's gonna we have on the 0:04:28.839 --> 0:04:31.080 awer of hundreds of vehicles, but up from you know, 0:04:31.120 --> 0:04:33.040 fifty or so a year ago, and you're gonna see 0:04:33.040 --> 0:04:35.159 that move into the thousands, you know, not not right away, 0:04:35.200 --> 0:04:37.680 but over time, you know, across several cities that we're 0:04:37.680 --> 0:04:41.360 operating in. But you know, the rate of expansion has 0:04:41.400 --> 0:04:44.080 been pretty impressive. And this is not because we're going 0:04:44.200 --> 0:04:47.839 you know, just going wild here. It's actually because the 0:04:47.920 --> 0:04:50.840 av system itself is improving so quickly. That's one of 0:04:50.920 --> 0:04:53.360 the most the remarkable things about AVIS compared to human 0:04:53.440 --> 0:04:56.479 drivers is they can keep getting better over time and 0:04:56.520 --> 0:04:59.080 even exponentially. And so even just a couple of weeks 0:04:59.080 --> 0:05:01.040 ago on the and Earning scoll I said, we were 0:05:01.040 --> 0:05:03.839 at about ten thousand rides per week. This last week 0:05:03.839 --> 0:05:06.479 it was fifteen thousand. So we're seeing demand that's off 0:05:06.480 --> 0:05:08.440 the charts, and I think that's going to lead to 0:05:09.120 --> 0:05:10.880 you know, continued expansion in the near term. 0:05:10.920 --> 0:05:12.520 You know, I talked about the history last night on 0:05:12.560 --> 0:05:15.960 Bloombog Television. We aired an episode of the Circuit with 0:05:16.000 --> 0:05:19.520 Emily Chang and she's sawing a Gary Tan about why Combinator. 0:05:20.200 --> 0:05:23.360 You guys were why Combinator Class of Winter twenty fourteen. 0:05:23.360 --> 0:05:24.000 I think that's right. 0:05:24.560 --> 0:05:26.960 Nine years it's taking you to get to this point. 0:05:28.040 --> 0:05:32.720 Is that fast progress or is that frustratingly slow progress. 0:05:33.120 --> 0:05:38.080 Well, you know, building a car that can operate, you know, 0:05:38.920 --> 0:05:41.680 better in many ways than a human driver is one 0:05:41.720 --> 0:05:45.719 of the ultimate AI challenges and there's no shortcuts. And so, 0:05:45.960 --> 0:05:48.599 you know, the first eight years of this tenure journey 0:05:49.400 --> 0:05:53.160 was a grind. It's continuous improvement, improving the software to 0:05:53.200 --> 0:05:55.240 the point we saw compelling evidence that this is going 0:05:55.279 --> 0:05:57.080 to have a positive impact on road safety. 0:05:57.360 --> 0:05:58.839 And so, unlike you know, other. 0:05:58.720 --> 0:06:00.720 AI products, where you can launch a product out there 0:06:00.720 --> 0:06:02.680 in the public as soon as it's kind of working, 0:06:02.960 --> 0:06:05.640 in our case, that technology really had to be matured 0:06:05.720 --> 0:06:08.120 and mid robust before we put it out there on 0:06:08.120 --> 0:06:08.560 the roads. 0:06:09.320 --> 0:06:10.760 And so it has been a ten year journey. 0:06:10.800 --> 0:06:12.800 But we're really happy now that we're finally able to 0:06:12.800 --> 0:06:14.480 put this out there and people are able to use 0:06:14.520 --> 0:06:16.360 it and we're going to see you know, benefits and 0:06:16.440 --> 0:06:17.359 road safety as a result. 0:06:17.440 --> 0:06:19.440 Okay, so we're going to look at some pictures of 0:06:20.240 --> 0:06:24.400 what are retrofitted customized Chevy Bolts driving around San Francisco. 0:06:24.480 --> 0:06:28.599 It's also the case in other states like Arizona, Texas. Right, 0:06:29.400 --> 0:06:33.279 A question I constantly get is why no New York City, 0:06:33.839 --> 0:06:37.120 but also no China because there are Chinese players the 0:06:37.279 --> 0:06:40.040 test in the Bay Area and in Chinese cities. 0:06:40.040 --> 0:06:41.400 Could you answer those two please? 0:06:42.279 --> 0:06:44.559 For New York in other cities, it's not a question 0:06:44.640 --> 0:06:48.080 of if, but when. And you know this, this technology, 0:06:48.640 --> 0:06:51.240 the way we've deployed is we make it work in 0:06:51.279 --> 0:06:54.120 a defined environment and so in San Francisco you've got 0:06:54.560 --> 0:06:58.000 fog and seapills, but you don't have you know, ice 0:06:58.120 --> 0:07:00.400 or snow, and so that'll come and then the next 0:07:00.760 --> 0:07:03.000 couple of years, and once we add that capability, we'll 0:07:03.000 --> 0:07:05.719 be able to expand into some of the colder weather cities. 0:07:06.120 --> 0:07:08.599 But that's not slowing our expansion today. I mean a 0:07:08.640 --> 0:07:10.920 year ago we were at in one city, just operating 0:07:10.920 --> 0:07:14.560 in San Francisco. As of today, we've announced seven or 0:07:14.600 --> 0:07:17.440 eight eight cities that will be in eminently and so 0:07:17.480 --> 0:07:19.480 you're going to see that rapid expansion, probably in the 0:07:19.520 --> 0:07:21.720 Sun Belt, in the areas where the capabilities are a 0:07:21.760 --> 0:07:23.120 match to what we see in those cities. 0:07:23.320 --> 0:07:26.760 Let's talk about the future from the technology perspective and origin. 0:07:27.320 --> 0:07:31.360 So right now, these are retrofitted or customized Chevy Bolts. 0:07:31.440 --> 0:07:33.840 But you are designing and we're showing it right now. 0:07:34.320 --> 0:07:41.000 A purpose built steering wheel lists seats inward facing shuttle. Okay, 0:07:41.160 --> 0:07:43.120 where are we with that product? 0:07:43.800 --> 0:07:45.800 Engineering is complete, you know, we're on the verge of 0:07:45.800 --> 0:07:48.120 going into production. We expect some announcements on that in 0:07:48.120 --> 0:07:50.920 the next few weeks. But the exciting thing about this 0:07:51.040 --> 0:07:53.480 vehicle is it's the first time a car has been 0:07:53.480 --> 0:07:57.240 built from the ground up for this robotaxi purpose. So 0:07:57.520 --> 0:07:59.680 it lasts a lot longer than a regular car. It's 0:07:59.720 --> 0:08:02.600 designed to be optimal for pool rides, so multiple people 0:08:02.640 --> 0:08:05.720 sharing a vehicle because there's lots of space between them, 0:08:06.240 --> 0:08:08.520 and the cost of it will be substantially lower than 0:08:08.560 --> 0:08:11.720 the first generation of the technology. So I think the 0:08:11.760 --> 0:08:13.440 cars on the road today feel like a car where 0:08:13.440 --> 0:08:15.720 you've just removed the driver, you still see the steering 0:08:15.720 --> 0:08:19.600 wheel moving around. The Origin feels like what a what 0:08:19.640 --> 0:08:22.080 a driverless vehicle was meant to be, and that experience 0:08:22.120 --> 0:08:25.280 that I think we've all perhaps been fantasizing about for years. 0:08:25.400 --> 0:08:29.080 Can you just explain in simple terms how when production 0:08:29.240 --> 0:08:33.280 starts you will deploy to the real world the Origin 0:08:34.040 --> 0:08:35.839 against your existing infrastructure. 0:08:36.120 --> 0:08:38.320 Yeah, so we've already been testing the Origin and again, 0:08:38.320 --> 0:08:40.240 this car has no steering wheel, so without you know, 0:08:40.280 --> 0:08:43.199 any safety driver or anyone behind the wheel in multiple cities. 0:08:43.360 --> 0:08:46.280 And as it goes into production, you'll see us start 0:08:46.280 --> 0:08:48.800 deploying those vehicles, you know, again in a gradual and 0:08:48.840 --> 0:08:51.800 measured way across the existing you know, seven or eight 0:08:51.840 --> 0:08:54.120 cities that we've announced, and then ramp up, you know, 0:08:54.160 --> 0:08:56.240 the number of those vehicles each cities as we ramp 0:08:56.280 --> 0:08:56.760 our production. 0:08:57.160 --> 0:09:00.480 There is a fierce, fierce battle for talent right now, 0:09:01.200 --> 0:09:04.040 broadly in the theater of artificial intelligence, but you know, 0:09:04.160 --> 0:09:06.880 machine learning or neural networks is a big part of 0:09:06.920 --> 0:09:09.040 what you guys do as well. What are your biggest 0:09:09.080 --> 0:09:12.880 challenges right now from a cash perspective, from a talent 0:09:12.920 --> 0:09:16.480 perspective that you've got left to tackle in twenty twenty three. 0:09:17.120 --> 0:09:19.320 Well, we're very fortunate to have, you know, robust support 0:09:19.320 --> 0:09:21.960 from General Motors that you know, Mary and her team 0:09:21.960 --> 0:09:24.640 see this is you know, a key part of GM's future. 0:09:24.960 --> 0:09:26.920 And so when we talk to candidates, we talk to 0:09:26.960 --> 0:09:29.560 AI talent, they'd like to see that strong backing. But 0:09:29.640 --> 0:09:31.560 also for many people there are a lot of AI 0:09:31.600 --> 0:09:34.079 opportunities out there that are fun or interesting problems, but 0:09:34.160 --> 0:09:36.520 many of them still feel like toys. When you work 0:09:36.520 --> 0:09:38.600 on a self driving car that is having a real 0:09:38.640 --> 0:09:41.440 impact affecting road safety today, and it's one of the 0:09:41.440 --> 0:09:42.160 best ways. 0:09:41.920 --> 0:09:44.000 That an AI engineer can spend their time in my opinion. 0:09:44.280 --> 0:09:47.160 All Right, Kyle Vote, CEO of Cruise, a pretty big 0:09:47.200 --> 0:09:52.000 moment for robotaxi or driver list technology. Here in SF, 0:10:00.880 --> 0:10:06.160 a US Cybersecurity Advisory Panel will investigate malicious targeting of 0:10:06.200 --> 0:10:10.560 cloud computing environments, including Microsoft's role in a recent breach 0:10:10.840 --> 0:10:15.640 of government officials email accounts by suspected Chinese hackers that 0:10:15.760 --> 0:10:19.079 according to the Department of Homeland Security. It also confirms 0:10:19.360 --> 0:10:22.400 a report from Bloomberg News. Let's bring in our cybersecurity 0:10:22.559 --> 0:10:26.959 editor who's been on this story, Andrew Martin. Andrew helped 0:10:26.960 --> 0:10:29.400 me understand the basics here what is being looked at. 0:10:31.240 --> 0:10:36.960 So the Biden administration created this cyber safety review panel 0:10:37.040 --> 0:10:41.440 to look at major cybersecurity events after the fact to 0:10:41.480 --> 0:10:44.040 try to figure out ways to prevent it from happening 0:10:44.080 --> 0:10:47.040 in the future. And what they did here is following 0:10:47.160 --> 0:10:51.600 a hack that was revealed in July that included a 0:10:51.640 --> 0:10:56.800 bunch of US government email accounts, including Comerace Secretary Gina Romando. 0:10:57.800 --> 0:11:03.679 They decided to look broadly at malicious attacks on cloud 0:11:03.720 --> 0:11:08.800 security environment and also at a specific hack by suspected 0:11:08.880 --> 0:11:13.120 Chinese hackers that got access to these email accounts. 0:11:14.679 --> 0:11:17.640 Okay, let's go to Microsoft in their role in this story. 0:11:17.720 --> 0:11:21.000 What have we learned about? What investigators are looking at 0:11:21.160 --> 0:11:22.360 Microsoft's role in all this? 0:11:23.080 --> 0:11:25.439 So what happened in this latest hack is that. 0:11:27.240 --> 0:11:32.000 Is that these suspected Chinese hackers got what's known as 0:11:32.400 --> 0:11:37.120 sort of an encryption key that allowed them to generate 0:11:37.280 --> 0:11:41.120 authentication tokens, which basically allow allow them to. 0:11:43.240 --> 0:11:45.400 Act as legitimate users. 0:11:45.000 --> 0:11:48.040 In these systems and get access to email accounts. And 0:11:48.800 --> 0:11:53.280 Senator Ron Wyden has wrote a letter last month asking 0:11:53.800 --> 0:11:56.920 for US officials to investigate Microsoft's. 0:11:56.360 --> 0:11:56.800 Role in this. 0:11:56.960 --> 0:12:00.480 He accused them of negligent cybersecurity predices. 0:12:01.000 --> 0:12:04.000 He also noted that Microsoft's products were. 0:12:05.320 --> 0:12:08.360 Involved in the solar wind tech from a couple of 0:12:08.400 --> 0:12:12.199 years ago. So he has broadly for an investigation of Microsoft. 0:12:12.679 --> 0:12:15.400 This is this Cyber Safety. 0:12:15.040 --> 0:12:17.880 Review Panel is looking more broadly at not just Microsoft, 0:12:17.960 --> 0:12:19.600 but all cloud providers. 0:12:20.200 --> 0:12:23.200 I think it's important that we kind of think about 0:12:23.240 --> 0:12:25.280 what the agencies are saying. We have a statement from 0:12:25.320 --> 0:12:30.439 the Secretary for Homeland Security, Alejandro Mayorcus who says organizations 0:12:30.440 --> 0:12:34.040 of all kinds are increasingly reliant on cloud computing to 0:12:34.160 --> 0:12:37.079 deliver services to the American people, which makes it imperative 0:12:37.480 --> 0:12:42.319 that we understand the vulnerabilities of that technology. Do we 0:12:42.360 --> 0:12:46.800 have a sense that they understand the vulnerabilities now, Andrew, No, 0:12:46.960 --> 0:12:47.560 I think that's. 0:12:47.440 --> 0:12:50.560 We're gonna They're going to try to figure out. You know, 0:12:51.000 --> 0:12:53.760 cloud obviously has grown very rapidly in the last couple 0:12:53.800 --> 0:12:56.240 of years. There has been a couple major attacks that 0:12:56.280 --> 0:12:59.360 have exploited vulnerabilities in the cloud. So I think it 0:12:59.440 --> 0:13:01.280 makes sense a sort of step back and try to 0:13:01.280 --> 0:13:01.960 figure this out. 0:13:03.320 --> 0:13:06.480 The thing that is interesting here is who in DC 0:13:06.720 --> 0:13:09.440 looks at this stuff at any given moment. You know, 0:13:10.480 --> 0:13:13.760 when you think about the departments investigating and probing, it's 0:13:13.800 --> 0:13:18.240 a digital issue rather than I guess the national security issue. 0:13:18.360 --> 0:13:21.040 Can you can you explain to us who has jurisdiction here? 0:13:23.200 --> 0:13:23.440 Yes? 0:13:23.679 --> 0:13:25.760 So, yes. 0:13:25.960 --> 0:13:31.319 So there's an agency called the cyber Security and Infrastructure 0:13:31.360 --> 0:13:36.480 Security Agency, which oversees sort of the defense of US 0:13:37.520 --> 0:13:42.600 computer networks, so they provide a sort of protection against 0:13:42.600 --> 0:13:46.400 the tax and intelligence to help for people who work 0:13:46.400 --> 0:13:48.000 in those agencies. 0:13:49.679 --> 0:13:52.679 Protect against the tax. The Cyber Safety. 0:13:52.360 --> 0:13:56.959 Review Board is overseen by them their advisory in nature, 0:13:57.000 --> 0:14:00.240 and again the purpose of them is not some much 0:14:00.240 --> 0:14:02.720 to remend at tax, but to sort of after the 0:14:02.800 --> 0:14:06.160 fact go back and say, Okay, here's what went wrong. 0:14:05.960 --> 0:14:07.920 In this case, what can we do better in the 0:14:07.960 --> 0:14:08.480 next time. 0:14:08.800 --> 0:14:13.600 They've previously looked at log forge, which was the software 0:14:13.720 --> 0:14:14.640 vulnerability that. 0:14:16.720 --> 0:14:18.480 In open source software. 0:14:18.880 --> 0:14:21.320 And they also looked at this hacking group called lapses, 0:14:22.400 --> 0:14:24.720 which it hacked a bunch of technology companies that come 0:14:24.760 --> 0:14:30.200 up with reports sort of recommending ways to prevent against 0:14:30.240 --> 0:14:30.600 the tax. 0:14:30.640 --> 0:14:35.440 Against that nature, all right, thanks to Bloomberg Cybersecurity editor 0:14:35.520 --> 0:14:39.760 Andrew Martin, and again that story confirming a previous Bloomberg report. 0:14:40.160 --> 0:14:42.840 Now coming up here on Bloomberg Technology, the cost. 0:14:42.600 --> 0:14:43.800 Of flying green. 0:14:44.360 --> 0:14:47.400 Why some airlines are planning to charge passengers for more 0:14:47.800 --> 0:14:51.520 for flights in order to reduce their carbon emissions. It 0:14:51.640 --> 0:14:55.120 is a big number big. We'll have the details next. 0:14:55.160 --> 0:14:59.400 This is Bloomberg Technology. 0:15:01.600 --> 0:15:04.560 The designated members of each House of Congress of the 0:15:04.600 --> 0:15:09.440 appointment in February twenty eighteen, after being nominated by the 0:15:09.440 --> 0:15:13.080 former president and confirmed by the Senate, mister Weiss was 0:15:13.120 --> 0:15:15.800 sworn in as the United States Attorney for the District 0:15:15.840 --> 0:15:20.400 of Delaware. Mister Weiss had been a career prosecutor, having 0:15:20.440 --> 0:15:23.720 served previously in the office for more than a decade. 0:15:24.760 --> 0:15:28.080 Beginning in twenty nineteen, mister Weiss, in his capacity as 0:15:28.200 --> 0:15:32.200 US Attorney and along with federal law enforcement partners, began 0:15:32.320 --> 0:15:37.920 investigating allegations of certain criminal conduct by, among others, Robert 0:15:38.080 --> 0:15:42.880 Hunter Biden. That investigation has been recently referenced in federal 0:15:42.920 --> 0:15:46.720 criminal proceedings in the District of Delaware, and as noted 0:15:46.720 --> 0:15:50.800 in those proceedings and other public statements by mister Weiss's office, 0:15:51.080 --> 0:15:57.280 that investigation remains ongoing. In February twenty twenty one, US 0:15:57.320 --> 0:16:00.240 Attorney Weiss was asked to remain as US Attorney for 0:16:00.240 --> 0:16:04.240 the District of Delaware and in that capacity to continue 0:16:04.280 --> 0:16:08.640 to lead the investigation. As I said before, mister Weiss 0:16:08.640 --> 0:16:12.600 would be permitted to continue his investigation, take any investigative 0:16:12.640 --> 0:16:16.120 steps he wanted, and make the decision whether to prosecute 0:16:16.200 --> 0:16:20.760 in any district. Mister Weiss has told Congress that he 0:16:20.920 --> 0:16:25.040 has been granted ultimate authority over this matter, including the 0:16:25.080 --> 0:16:30.680 responsibility for deciding where, when, and whether to file charges, 0:16:31.000 --> 0:16:34.320 and for making decisions necessary to preserve the integrity of 0:16:34.360 --> 0:16:39.840 any prosecution consistent with federal law, the principles of federal prosecution, 0:16:40.440 --> 0:16:45.400 and departmental policies. In a July twenty twenty three letter 0:16:45.480 --> 0:16:48.920 to Congress, mister Weiss said that he had not to 0:16:48.960 --> 0:16:55.120 that point requested special Council designation. On Tuesday of this week, 0:16:55.560 --> 0:16:59.560 mister Weiss advised me that, in his judgment, his investigation 0:16:59.680 --> 0:17:03.720 had stage at which he should continue his work as 0:17:03.720 --> 0:17:07.080 a Special Council, and he asked to be so appointed. 0:17:08.160 --> 0:17:12.280 Upon considering his request, as well as the extraordinary circumstances 0:17:12.320 --> 0:17:15.679 relating to this matter, I have concluded that it is 0:17:15.720 --> 0:17:18.919 in the public interest to appoint him as Special Council 0:17:19.800 --> 0:17:23.640 commitment to provide mister Weiss all the resources he requests. 0:17:24.240 --> 0:17:26.960 It also reaffirms that mister Weiss has the authority he 0:17:27.080 --> 0:17:31.199 needs to conduct a thorough investigation and to continue to 0:17:31.240 --> 0:17:35.480 take the steps he deems appropriate independently based only on 0:17:35.520 --> 0:17:39.880 the facts and the law. Mister Weiss will also continue 0:17:39.960 --> 0:17:42.600 to serve as US Attorney for the District of Delaware 0:17:43.920 --> 0:17:46.960 a Special Council, he will continue to have the authority 0:17:47.000 --> 0:17:51.399 and responsibility that he has previously exercised to oversee the 0:17:51.400 --> 0:17:56.320 investigation and decide where, when, and whether to file charges. 0:17:56.920 --> 0:17:59.359 The Special Council will not be subject to the day 0:17:59.400 --> 0:18:03.320 to day supervision of any official of the Department, but 0:18:03.440 --> 0:18:07.480 he must comply with the regulations, procedures, and policies of 0:18:07.520 --> 0:18:12.439 the Department consistent with the Special Council regulations. At the 0:18:12.480 --> 0:18:15.560 conclusion of mister Weiss's work, he will provide me with 0:18:15.640 --> 0:18:20.800 a report explaining the prosecution or declination decisions reached by him. 0:18:21.760 --> 0:18:24.520 As with each Special Council who has served since I 0:18:24.560 --> 0:18:27.760 have taken office, I am committed to making as much 0:18:27.760 --> 0:18:31.879 of his report public as possible, consistent with legal requirements 0:18:31.920 --> 0:18:38.280 and Department policy. Today's announcement affords the prosecutors, agents, and 0:18:38.359 --> 0:18:42.560 analysts working on this matter the ability to proceed with 0:18:42.640 --> 0:18:48.280 their work expeditiously and to make decisions indisputably guided only 0:18:48.440 --> 0:18:52.280 by the facts and the law. The men and women 0:18:52.400 --> 0:18:57.480 undertaking this investigation are public servants who have dedicated their 0:18:57.520 --> 0:19:02.600 careers to protecting the citizens of this country. The appointment 0:19:02.600 --> 0:19:06.560 of mister Weiss reinforces for the American people. The Department's 0:19:06.600 --> 0:19:12.800 committed meant to both independence and accountability in particularly sensitive matters. 0:19:14.080 --> 0:19:16.879 I am confident that mister Weiss will carry out his 0:19:17.000 --> 0:19:21.960 responsibility in an even handed and urgent manner and in 0:19:22.000 --> 0:19:26.600 accordance with the highest traditions of this department. Thank you. 0:19:27.520 --> 0:19:30.400 If you was the joernal of Weiss, had the authorities needed. 0:19:30.640 --> 0:19:31.680 You need to be a polution. 0:19:31.880 --> 0:19:35.440 That was US Attorney General Garland speaking there the news 0:19:35.960 --> 0:19:39.639 the Hunter Biden probe has been assigned a special council 0:19:39.720 --> 0:19:43.040 by the Department of Justice. That special council the current 0:19:43.119 --> 0:19:46.080 head of the probe David Weiss, who will be the 0:19:46.119 --> 0:19:48.800 special council on the Hunter Biden probe. Let's head over 0:19:48.840 --> 0:19:51.639 to Washington. Webloon both Katie Lions has more Kayley. 0:19:53.000 --> 0:19:56.080 Well and as we just heard from the Attorney General, 0:19:56.240 --> 0:19:59.760 David Weiss, the US District Attorney in Delaware since twenty 0:19:59.840 --> 0:20:04.320 nine ten, has already been looking into criminal investigations against 0:20:04.480 --> 0:20:07.719 Hunter Biden. Of course, President Joe Biden's son. He has 0:20:07.760 --> 0:20:11.640 now been granted Special Council authority and under which, according 0:20:11.680 --> 0:20:14.600 to Merrick Garland, the Attorney General. He will have full independence, 0:20:14.640 --> 0:20:16.440 he will not be overseen on a day to day 0:20:16.480 --> 0:20:20.800 basis by the Department of Justice as he continues this investigation. 0:20:20.920 --> 0:20:24.840 It's important to note here earlier this summer, mister Weiss, 0:20:25.080 --> 0:20:27.680 the district attorney there, was involved in that initial plea 0:20:27.720 --> 0:20:30.840 agreement with Hunter Biden, where he was supposed to plead 0:20:30.880 --> 0:20:33.560 guilty to two misdemeanor tax charges and in return could 0:20:33.600 --> 0:20:36.920 have avoided prosecution on a separate gun related charge. That 0:20:37.160 --> 0:20:40.280 plea deal had fallen apart in court. That is not 0:20:40.400 --> 0:20:43.439 a completely resolved matter, and now going forward, mister Weiss 0:20:43.440 --> 0:20:46.800 will have this special Council designated authority in the probe 0:20:46.880 --> 0:20:49.360 of the President's son. It's important to keep in mind 0:20:49.440 --> 0:20:52.359 here as well that a special counsel being appointed is 0:20:52.440 --> 0:20:56.600 something that Republicans have been calling for for some time now, 0:20:56.600 --> 0:20:59.440 and of course in Congress there are other separate, ongoing 0:20:59.480 --> 0:21:02.720 investigations into the dealings, not just of Hunter Biden, but 0:21:02.800 --> 0:21:05.800 how the President himself may have been involved. There was 0:21:05.800 --> 0:21:08.760 a hearing just recently with Debon Archer, hunter Biden's former 0:21:08.800 --> 0:21:12.800 business partner, before the House Oversight Committee, talking about phone 0:21:12.800 --> 0:21:15.080 calls that the President may have been on with Hunter 0:21:15.440 --> 0:21:19.200 simultaneously with business associates. So Congress is doing work here 0:21:19.240 --> 0:21:21.919 and now again a special counsel, Mister Weiss, the District 0:21:21.960 --> 0:21:26.120 attorney in Delaware, has also been given that special council designation. 0:21:26.800 --> 0:21:29.080 All right, Bloombers k Lines in DC, thank you the 0:21:29.119 --> 0:21:31.360 news that David Weiss, the current head of the Hunter 0:21:31.440 --> 0:21:34.480 Biden probe, has been assigned as the special council by 0:21:34.720 --> 0:21:41.600 the Department of Justice. 0:21:45.320 --> 0:21:46.760 Welcome back to Bloomber Technology. 0:21:46.880 --> 0:21:50.280 Ed Ludlow here in San Francisco, remainder Caroline Hyde is off. 0:21:50.320 --> 0:21:52.200 I want to get a quick check on the markets. 0:21:51.840 --> 0:21:53.520 And kind of how we ended the week and as 0:21:53.560 --> 0:21:56.800 that one hundred over five days down again one point 0:21:56.840 --> 0:22:00.879 seven percent as it stands, second consecutive weekly decline and 0:22:01.440 --> 0:22:04.080 it's easy to forget, but this is the first back 0:22:04.119 --> 0:22:06.240 to back weekly declines we've had on the Tech Heavy 0:22:06.240 --> 0:22:10.080 index since December when we had four straight weeks of declines. 0:22:10.119 --> 0:22:12.400 Earning season has been a really big part of the story. 0:22:12.920 --> 0:22:15.880 But remember the USCPI print as well being a factor 0:22:16.320 --> 0:22:19.040 markets trying to understand what the Fed might do next. 0:22:19.280 --> 0:22:22.640