WEBVTT - Tech News: Is TikTok's Fate Sealed?

0:00:04.360 --> 0:00:12.319
<v Speaker 1>Welcome to tech Stuff, a production from iHeartRadio. He there,

0:00:12.360 --> 0:00:15.920
<v Speaker 1>and welcome to tech Stuff. I'm your host, Jonathan Strickland.

0:00:15.960 --> 0:00:19.079
<v Speaker 1>I'm an executive producer with iHeartRadio. And how the tech

0:00:19.160 --> 0:00:22.079
<v Speaker 1>are you. It's time for the tech news for Tuesday,

0:00:22.120 --> 0:00:26.439
<v Speaker 1>March twenty eighth, twenty twenty three, and we start off

0:00:26.760 --> 0:00:29.680
<v Speaker 1>with a little bit of sad news. So last Friday,

0:00:30.080 --> 0:00:33.800
<v Speaker 1>Gordon Moore passed away at the age of ninety four.

0:00:34.040 --> 0:00:36.960
<v Speaker 1>That's a ripe old age. Now I plan to do

0:00:37.120 --> 0:00:42.159
<v Speaker 1>an episode about more to really go into detail about

0:00:42.200 --> 0:00:45.320
<v Speaker 1>his life and contributions. But he is someone that I

0:00:45.360 --> 0:00:48.639
<v Speaker 1>have talked about a lot in past episodes of tech

0:00:48.680 --> 0:00:52.560
<v Speaker 1>Stuff because he's a pretty important person in the world

0:00:52.600 --> 0:00:56.440
<v Speaker 1>of tech. He's the man who first observed that semiconductor

0:00:56.520 --> 0:01:01.640
<v Speaker 1>fabrication companies had followed a particular trajectory, namely that the

0:01:01.680 --> 0:01:06.240
<v Speaker 1>companies were cramming twice as many components onto a square

0:01:06.240 --> 0:01:10.959
<v Speaker 1>inch of silicon every two years or so. So if

0:01:11.319 --> 0:01:14.039
<v Speaker 1>you were able to put ten thousand components on a

0:01:14.120 --> 0:01:17.720
<v Speaker 1>square inch of silicon in year one, two years later,

0:01:17.760 --> 0:01:22.280
<v Speaker 1>by year three, you're cramming twenty thousand on there by

0:01:22.360 --> 0:01:25.320
<v Speaker 1>year five. That would go up to forty thousand and

0:01:25.400 --> 0:01:28.679
<v Speaker 1>so on, and it gets real big, real fast. Now,

0:01:28.720 --> 0:01:32.559
<v Speaker 1>this observation came to be known as Moore's law, which

0:01:32.560 --> 0:01:35.280
<v Speaker 1>is funny because you know, he was making an observation

0:01:35.319 --> 0:01:38.520
<v Speaker 1>and saying that you could predict what would happen based

0:01:38.520 --> 0:01:42.080
<v Speaker 1>on this observation, But he wasn't saying that there was

0:01:42.160 --> 0:01:47.640
<v Speaker 1>some fundamental law that drove this. His initial observations were

0:01:47.640 --> 0:01:52.080
<v Speaker 1>really more about economic factors that would fund that kind

0:01:52.160 --> 0:01:55.200
<v Speaker 1>of innovation and make it necessary in order to be competitive.

0:01:55.640 --> 0:01:58.800
<v Speaker 1>But later interpretations of his observation would kind of boil

0:01:58.920 --> 0:02:03.720
<v Speaker 1>down to a predict that computing processing power doubles every

0:02:03.760 --> 0:02:06.520
<v Speaker 1>two years or so. But Moore's law was just one

0:02:06.560 --> 0:02:09.040
<v Speaker 1>of his big contributions. Another huge one is that he

0:02:09.160 --> 0:02:12.840
<v Speaker 1>was a co founder of Intel. So we'll do a

0:02:12.880 --> 0:02:16.840
<v Speaker 1>full episode about him and his contributions soon, and in

0:02:16.880 --> 0:02:21.840
<v Speaker 1>the meantime, Fair Winds and following sees Gordon Moore. Markets

0:02:21.880 --> 0:02:26.639
<v Speaker 1>Insider reports that, according to analyst Dan Ives, TikTok has

0:02:26.680 --> 0:02:31.120
<v Speaker 1>a ninety percent chance of being banned in the US

0:02:31.320 --> 0:02:35.080
<v Speaker 1>if things continue as they are now. This follows shall

0:02:35.320 --> 0:02:40.799
<v Speaker 1>she Chew, which is TikTok's CEO appearing before Congress. Now,

0:02:40.840 --> 0:02:44.200
<v Speaker 1>as I mentioned last week, I was writing and recording

0:02:44.480 --> 0:02:47.800
<v Speaker 1>during his testimony, so I had to follow up on

0:02:47.840 --> 0:02:51.200
<v Speaker 1>what was going on, and I couldn't watch very much

0:02:51.200 --> 0:02:54.000
<v Speaker 1>of it, y'all because it was not pretty. There was

0:02:54.040 --> 0:02:59.640
<v Speaker 1>some real ethnocentric xenophobic behavior on display in Congress, some

0:02:59.720 --> 0:03:02.960
<v Speaker 1>of it really really ugly, and there were a lot

0:03:03.000 --> 0:03:06.120
<v Speaker 1>of assumptions about choose heritage. It seemed like everybody was

0:03:06.160 --> 0:03:11.760
<v Speaker 1>assuming he's Chinese. He's not. He comes from Singapore, not China.

0:03:12.080 --> 0:03:16.080
<v Speaker 1>There was also a lot of railroading where like no

0:03:16.120 --> 0:03:19.160
<v Speaker 1>one was asking a question at one point, like they

0:03:19.200 --> 0:03:23.960
<v Speaker 1>were essentially making accusations and statements but not asking anything.

0:03:24.680 --> 0:03:29.360
<v Speaker 1>And it's kind of like counterproductive. I mean, if someone's

0:03:29.400 --> 0:03:33.080
<v Speaker 1>there to provide testimony, you're supposed to ask them questions

0:03:33.440 --> 0:03:36.600
<v Speaker 1>so that they can answer, then you follow up. And

0:03:36.640 --> 0:03:39.280
<v Speaker 1>it looked like a lot of them, the people in

0:03:39.320 --> 0:03:42.920
<v Speaker 1>Congress were kind of using it to grandstand, and you know,

0:03:43.240 --> 0:03:46.920
<v Speaker 1>a lot of TikTok folks, like a lot of users

0:03:47.280 --> 0:03:50.280
<v Speaker 1>took the ball and ran with it by creating a

0:03:50.320 --> 0:03:54.800
<v Speaker 1>bunch of satirical videos pointing out how Congress was behaving.

0:03:55.320 --> 0:04:00.880
<v Speaker 1>Of course, TikTok users have their own bias obviously, so

0:04:01.400 --> 0:04:05.160
<v Speaker 1>according to Ives the analyst, TikTok has a couple of

0:04:05.200 --> 0:04:09.080
<v Speaker 1>options if it wants to avoid being obliterated, and it's

0:04:09.120 --> 0:04:11.160
<v Speaker 1>pretty much what we heard a few years back when

0:04:11.200 --> 0:04:15.120
<v Speaker 1>former President Donald Trump started to go after TikTok. The

0:04:15.200 --> 0:04:19.120
<v Speaker 1>company can either hold an initial public offering or IPO

0:04:19.440 --> 0:04:24.039
<v Speaker 1>and go public and in the process presumably break its

0:04:24.040 --> 0:04:27.159
<v Speaker 1>connection with byte Dance, though you would have to take

0:04:27.160 --> 0:04:30.520
<v Speaker 1>some real steps to make sure that happened, or it

0:04:30.600 --> 0:04:33.520
<v Speaker 1>could be sold off to some other company, you know,

0:04:33.600 --> 0:04:37.920
<v Speaker 1>not a Chinese company. Now. Honestly, I don't know how

0:04:37.920 --> 0:04:41.200
<v Speaker 1>to feel about all this. On the one hand, China

0:04:41.440 --> 0:04:45.520
<v Speaker 1>very much is focused on digital espionage. Like that's not

0:04:45.680 --> 0:04:51.320
<v Speaker 1>a controversial thing to say. China's actively pursuing digital espionage

0:04:51.360 --> 0:04:54.719
<v Speaker 1>in multiple venues. I don't know that TikTok's one of

0:04:54.720 --> 0:04:58.360
<v Speaker 1>them necessarily, it wouldn't surprise me if it were. But

0:04:58.920 --> 0:05:01.520
<v Speaker 1>you know, it's there's no denying China's in that business.

0:05:01.920 --> 0:05:05.760
<v Speaker 1>But then so is everybody else, including the United States.

0:05:05.880 --> 0:05:09.039
<v Speaker 1>It's not like China's the outlier here. You can also

0:05:09.120 --> 0:05:13.560
<v Speaker 1>argue that even the private and public companies here in

0:05:13.600 --> 0:05:15.960
<v Speaker 1>the US and the tech sector are, when you get

0:05:16.000 --> 0:05:19.360
<v Speaker 1>down to it, focused on digital espionage with regard to users.

0:05:19.400 --> 0:05:22.880
<v Speaker 1>They are in the business of buying and selling personal

0:05:22.920 --> 0:05:29.120
<v Speaker 1>information about people like us. No one is clean on this.

0:05:29.200 --> 0:05:31.520
<v Speaker 1>In other words, like you can't just single out TikTok

0:05:31.520 --> 0:05:35.080
<v Speaker 1>and say you are bad because you're collecting information, because

0:05:35.160 --> 0:05:38.719
<v Speaker 1>that's the truth across the board. You could say everyone's

0:05:38.720 --> 0:05:41.520
<v Speaker 1>bad and that would be true. But yeah, singling out

0:05:41.560 --> 0:05:45.400
<v Speaker 1>TikTok for that specific purpose doesn't hold a lot of water. Now,

0:05:45.440 --> 0:05:50.840
<v Speaker 1>the national security component does complicate things further, but it

0:05:50.920 --> 0:05:55.039
<v Speaker 1>also creates an opening for xenophobic ideologies to take hold,

0:05:55.200 --> 0:05:58.719
<v Speaker 1>which gets pretty ugly. Like there are elements of the

0:05:58.839 --> 0:06:04.119
<v Speaker 1>rhetoric that we're starting to sound a bit like McCarthyism

0:06:04.480 --> 0:06:07.080
<v Speaker 1>from back in the nineteen fifties. If you don't know

0:06:07.120 --> 0:06:08.880
<v Speaker 1>what that is, you need to look up the Red

0:06:09.040 --> 0:06:12.520
<v Speaker 1>Scare and educate yourself. And you know, some of the

0:06:12.520 --> 0:06:16.880
<v Speaker 1>concerns might be based in reality, but they can become

0:06:16.920 --> 0:06:20.520
<v Speaker 1>exaggerated and also conflated with other things, and it just

0:06:20.720 --> 0:06:23.919
<v Speaker 1>can get very very ugly, very very quickly. So the

0:06:23.960 --> 0:06:26.200
<v Speaker 1>whole thing is a huge mess. And I sure as heck,

0:06:26.720 --> 0:06:29.440
<v Speaker 1>do not know what the best way forward is. I

0:06:29.480 --> 0:06:32.880
<v Speaker 1>just feel pretty comfortable saying whatever the best way happens

0:06:32.920 --> 0:06:35.520
<v Speaker 1>to be, that ain't the way we're going right now.

0:06:36.200 --> 0:06:39.760
<v Speaker 1>Joseph Cox of Motherboard has a piece about the FBI's

0:06:39.760 --> 0:06:44.680
<v Speaker 1>contract with a company called Team Simru or perhaps Simru

0:06:44.800 --> 0:06:48.160
<v Speaker 1>it's see why Mru, I'm not sure how to pronounce it.

0:06:48.880 --> 0:06:53.360
<v Speaker 1>And the contract is to acquire what is called NetFlow data.

0:06:53.440 --> 0:06:55.440
<v Speaker 1>This is kind of like a big picture of view

0:06:55.720 --> 0:06:59.840
<v Speaker 1>of information that's moving across networks like the Internet. You

0:07:00.040 --> 0:07:02.880
<v Speaker 1>can see which servers are connecting to one another, transmitting

0:07:02.920 --> 0:07:08.119
<v Speaker 1>information from endpoint to endpoint. So Team Simru is able

0:07:08.160 --> 0:07:11.400
<v Speaker 1>to get this data by doing deals with Internet service providers.

0:07:11.800 --> 0:07:16.400
<v Speaker 1>Team Simru offers ISPs threat detection services and in return,

0:07:16.440 --> 0:07:21.080
<v Speaker 1>the ISPs trade this data, which Team Simru then sells

0:07:21.200 --> 0:07:24.840
<v Speaker 1>to clients like the FBI. Apparently. Now. The reason this

0:07:24.880 --> 0:07:28.600
<v Speaker 1>is important is it marks a kind of loophole that

0:07:28.640 --> 0:07:30.840
<v Speaker 1>the FBI has leaned on in order to get an

0:07:30.840 --> 0:07:35.240
<v Speaker 1>eye on data transmissions without first going through the legal

0:07:35.280 --> 0:07:39.760
<v Speaker 1>process to do so lawfully. Right, instead of getting a warrant,

0:07:39.880 --> 0:07:44.080
<v Speaker 1>a digital warrant, they just buy the data outright. Now,

0:07:44.160 --> 0:07:47.320
<v Speaker 1>NetFlow is not quite the same thing as spying on

0:07:47.440 --> 0:07:51.720
<v Speaker 1>the actual information being exchanged itself. It can, however, include

0:07:51.720 --> 0:07:54.480
<v Speaker 1>a lot of stuff like what you are l you're visiting,

0:07:54.520 --> 0:07:57.080
<v Speaker 1>so you know which websites people are going to during

0:07:57.080 --> 0:08:01.840
<v Speaker 1>a given Internet session, and NetFlow can definitely provide clues

0:08:02.480 --> 0:08:05.840
<v Speaker 1>as to potential illegal activity, so you might be able

0:08:05.880 --> 0:08:09.200
<v Speaker 1>to find which servers are associated with a hacker group,

0:08:09.240 --> 0:08:13.080
<v Speaker 1>for example. But the issue is that metadata can tell

0:08:13.160 --> 0:08:16.760
<v Speaker 1>us a lot about a person by itself. Like you

0:08:16.840 --> 0:08:21.200
<v Speaker 1>might think the information within a conversation is important, and

0:08:21.320 --> 0:08:25.840
<v Speaker 1>it is, but the metadata about that conversation can give

0:08:25.880 --> 0:08:28.880
<v Speaker 1>you a lot of clues all on its own. Now,

0:08:28.880 --> 0:08:30.960
<v Speaker 1>I've mentioned this before, but there have been a lot

0:08:30.960 --> 0:08:34.000
<v Speaker 1>of demonstrations showing that with just a few data points

0:08:34.440 --> 0:08:37.880
<v Speaker 1>you can really narrow down the specific Internet users identity

0:08:37.920 --> 0:08:42.040
<v Speaker 1>with incredible accuracy and precision. So this practice of just

0:08:42.280 --> 0:08:47.200
<v Speaker 1>buying information from companies like team cymru it gets into

0:08:47.240 --> 0:08:51.720
<v Speaker 1>some really dangerous surveillance state territory. Here, if you'd like

0:08:51.760 --> 0:08:54.880
<v Speaker 1>to learn more, you can visit vice dot com and

0:08:55.000 --> 0:08:58.640
<v Speaker 1>just read the article. Here is the FBI's contract to

0:08:58.679 --> 0:09:02.960
<v Speaker 1>buy mass Internet data. The facial recognition company clear View,

0:09:03.200 --> 0:09:08.280
<v Speaker 1>which built out an enormous database of images using questionable means,

0:09:08.800 --> 0:09:13.839
<v Speaker 1>mainly scraping social network platforms to gather digital photos without

0:09:13.920 --> 0:09:19.440
<v Speaker 1>first getting the consent of users of those platforms, says

0:09:19.520 --> 0:09:23.640
<v Speaker 1>that it has facilitated almost a million searchers or US police.

0:09:23.679 --> 0:09:26.640
<v Speaker 1>This is according to the company itself that has made

0:09:26.679 --> 0:09:31.120
<v Speaker 1>that claim. They revealed this startling information and a piece

0:09:31.160 --> 0:09:35.640
<v Speaker 1>for the BBC. Clearview has received some high profile criticism

0:09:35.679 --> 0:09:38.320
<v Speaker 1>in the United States, and several cities here in the

0:09:38.400 --> 0:09:42.160
<v Speaker 1>US outright banned their police forces from using the service.

0:09:42.200 --> 0:09:46.800
<v Speaker 1>They say do not make use of clear Views services. Now,

0:09:46.800 --> 0:09:49.920
<v Speaker 1>as I've mentioned several times in the past, facial recognition

0:09:49.960 --> 0:09:54.400
<v Speaker 1>technology is far from perfect and frequently encounters issues when

0:09:54.440 --> 0:09:58.280
<v Speaker 1>identifying people of color in particular, and ultimately, these are

0:09:58.280 --> 0:10:01.160
<v Speaker 1>the same people who received dispropor or sets, scrutiny and

0:10:01.240 --> 0:10:05.720
<v Speaker 1>abuse from law enforcement. Making matters worse is that it's

0:10:05.920 --> 0:10:09.480
<v Speaker 1>very difficult to say which police departments have been frequent

0:10:09.559 --> 0:10:13.000
<v Speaker 1>customers for clear View, because there are very few laws

0:10:13.000 --> 0:10:16.719
<v Speaker 1>and regulations that require police to disclose that kind of information.

0:10:17.280 --> 0:10:20.200
<v Speaker 1>So this lack of transparency creates a further gap of

0:10:20.240 --> 0:10:24.760
<v Speaker 1>distrust between police and citizens, and scraping social media for

0:10:24.840 --> 0:10:28.400
<v Speaker 1>data like this typically goes against the terms of services

0:10:28.480 --> 0:10:32.040
<v Speaker 1>for those social networks. Facebook has come down hard on

0:10:32.120 --> 0:10:36.520
<v Speaker 1>companies that have tried to scrape Facebook in order to

0:10:36.559 --> 0:10:41.680
<v Speaker 1>gather data. Also academic researchers. Facebook's really gone hard against

0:10:41.679 --> 0:10:46.400
<v Speaker 1>academic researchers doing that. So essentially, companies like Meta slash

0:10:46.440 --> 0:10:48.760
<v Speaker 1>Facebook don't like anyone else being able to do what

0:10:49.000 --> 0:10:54.040
<v Speaker 1>they are very very definitely doing themselves. I mean it's

0:10:54.480 --> 0:10:58.080
<v Speaker 1>I don't have information on it. I cannot say with

0:10:58.200 --> 0:11:01.319
<v Speaker 1>evidence that they do, but it would shock me if

0:11:01.360 --> 0:11:04.600
<v Speaker 1>they are not making use of that technology that they

0:11:04.600 --> 0:11:06.440
<v Speaker 1>don't want anyone else to be able to use on

0:11:06.480 --> 0:11:11.719
<v Speaker 1>their platforms. Okay, with that cheerful note, let's take a

0:11:11.800 --> 0:11:24.199
<v Speaker 1>quick break. We'll come back with some more tech news. Okay,

0:11:24.280 --> 0:11:28.400
<v Speaker 1>we're back. So this past weekend, an organization called the

0:11:28.600 --> 0:11:35.440
<v Speaker 1>Military Cyber Professional Association, or MCPA, petitioned lawmakers to create

0:11:35.480 --> 0:11:39.520
<v Speaker 1>a new branch of the US military that would focus

0:11:39.640 --> 0:11:43.720
<v Speaker 1>solely on digital and cyber threats. The group, which consists

0:11:43.720 --> 0:11:46.640
<v Speaker 1>of folks who have worked in digital security within the military,

0:11:46.760 --> 0:11:50.480
<v Speaker 1>some of them current military officials, some of them former ones.

0:11:50.960 --> 0:11:53.160
<v Speaker 1>They say that one of the largest challenges that the

0:11:53.200 --> 0:11:56.600
<v Speaker 1>United States faces with digital warfare in mind is that

0:11:56.760 --> 0:11:59.839
<v Speaker 1>up to now, each branch of the military has its

0:11:59.840 --> 0:12:05.040
<v Speaker 1>own independent methodology to fight cyber threats, and there is

0:12:05.280 --> 0:12:11.120
<v Speaker 1>a unified office that can take some actions, but it's

0:12:11.160 --> 0:12:14.800
<v Speaker 1>not a full branch of the military. So the MCPA

0:12:14.880 --> 0:12:18.320
<v Speaker 1>is saying this creates gaps in US defenses and that

0:12:19.040 --> 0:12:24.600
<v Speaker 1>if we are to actually have a real strong national

0:12:24.640 --> 0:12:28.160
<v Speaker 1>security approach to cybersecurity, there needs to be a military

0:12:28.200 --> 0:12:33.080
<v Speaker 1>branch specifically dedicated to cyber warfare and defense. This branch

0:12:33.360 --> 0:12:38.920
<v Speaker 1>could establish best practices, it could spearhead projects to protect

0:12:38.960 --> 0:12:43.800
<v Speaker 1>the United States, and it would be a fully funded

0:12:43.880 --> 0:12:47.800
<v Speaker 1>branch of the military, as opposed to something that could

0:12:47.840 --> 0:12:52.160
<v Speaker 1>see its funding ebb and flow based upon the individual

0:12:52.960 --> 0:12:57.880
<v Speaker 1>branches of the military that already exist. We've already established

0:12:57.920 --> 0:12:59.920
<v Speaker 1>a new branch of the military here in the United

0:13:00.040 --> 0:13:04.320
<v Speaker 1>States in the recent past, the Space Force being the

0:13:04.360 --> 0:13:09.199
<v Speaker 1>most recent branch. So if this did happen, I mean

0:13:09.240 --> 0:13:13.600
<v Speaker 1>there is precedents, recent precedents. Before Space Force, it was

0:13:13.640 --> 0:13:17.280
<v Speaker 1>like seventy two years since the last time the US

0:13:17.360 --> 0:13:20.280
<v Speaker 1>had created a branch of the military. But Hey, we're

0:13:20.280 --> 0:13:22.920
<v Speaker 1>on a roll now, right, I mean two, that's a streak.

0:13:22.960 --> 0:13:26.120
<v Speaker 1>We can start creating branches for everything. Whether or not

0:13:26.720 --> 0:13:30.440
<v Speaker 1>anyone actually makes a move on this to turn this

0:13:30.679 --> 0:13:35.000
<v Speaker 1>proposal into something more actionable remains to be seen. There

0:13:35.040 --> 0:13:39.720
<v Speaker 1>does not appear to currently be a lot of behind

0:13:39.760 --> 0:13:43.959
<v Speaker 1>this in Congress or in the executive branch, so we

0:13:44.000 --> 0:13:47.000
<v Speaker 1>may not see any movement on this in the near future.

0:13:47.320 --> 0:13:50.280
<v Speaker 1>It may take a while. I do think that it's

0:13:50.400 --> 0:13:53.560
<v Speaker 1>not a bad idea to establish such a branch, to

0:13:53.679 --> 0:13:58.360
<v Speaker 1>have something that is well funded and can attract talent

0:13:58.840 --> 0:14:03.160
<v Speaker 1>and maintain and keep that talent in order to fight

0:14:03.280 --> 0:14:08.200
<v Speaker 1>off things like the various hacker groups that are constantly

0:14:08.640 --> 0:14:12.880
<v Speaker 1>poking at vulnerabilities within the United States to find a

0:14:12.920 --> 0:14:15.439
<v Speaker 1>way to get a foothold. I think it's important to

0:14:15.559 --> 0:14:18.920
<v Speaker 1>establish a defense against that, and the longer we wait,

0:14:18.960 --> 0:14:23.000
<v Speaker 1>the harder it will be to do it effectively. So personally,

0:14:23.040 --> 0:14:25.760
<v Speaker 1>I think it's not a bad idea. I'm not a

0:14:25.840 --> 0:14:30.280
<v Speaker 1>huge fan of creating more military necessarily, but this is

0:14:30.320 --> 0:14:33.800
<v Speaker 1>the way the future is going, and with the increase

0:14:34.160 --> 0:14:38.040
<v Speaker 1>in things like ai USE, it's going to be a necessity,

0:14:38.280 --> 0:14:42.360
<v Speaker 1>and I would rather see us be proactive than reactive.

0:14:42.600 --> 0:14:44.680
<v Speaker 1>I mean, we're already going to be at least a

0:14:44.680 --> 0:14:47.840
<v Speaker 1>little reactive, but you know, we could argue we're proactive.

0:14:49.680 --> 0:14:53.400
<v Speaker 1>Zoe Schiffer over at Platformer has a great article titled

0:14:53.800 --> 0:14:58.000
<v Speaker 1>the Secret list of Twitter VIPs getting boosted over everyone else,

0:14:58.600 --> 0:15:02.080
<v Speaker 1>which obviously reveals how some of Twitter's internal documents show

0:15:02.160 --> 0:15:06.040
<v Speaker 1>that the platform is being, let's say, inconsistent with how

0:15:06.040 --> 0:15:09.120
<v Speaker 1>it applies the rules. I'm sure this comes as a

0:15:09.160 --> 0:15:13.080
<v Speaker 1>massive shock to everyone, all right. So the heart of

0:15:13.120 --> 0:15:15.960
<v Speaker 1>the matter comes from Elon Musk saying that to hold

0:15:16.040 --> 0:15:20.680
<v Speaker 1>onto that blue verified check mark that some users have,

0:15:21.200 --> 0:15:23.440
<v Speaker 1>they're going to have to pony up the eight bucks

0:15:23.440 --> 0:15:27.680
<v Speaker 1>a month subscription fee to Twitter Blue. Or actually it's

0:15:27.720 --> 0:15:29.880
<v Speaker 1>more than that, if you're talking about a brand and

0:15:30.000 --> 0:15:33.600
<v Speaker 1>like a company as opposed to an individual. Elon Musk

0:15:33.640 --> 0:15:37.880
<v Speaker 1>says that this is really about treating everyone equally, that

0:15:38.040 --> 0:15:41.840
<v Speaker 1>people shouldn't be elevated over others with that blue check mark.

0:15:42.360 --> 0:15:45.880
<v Speaker 1>But already that's just a fricking lie, right, because if

0:15:45.920 --> 0:15:49.080
<v Speaker 1>it were about treating everyone equally, either you get rid

0:15:49.080 --> 0:15:51.680
<v Speaker 1>of the blue check mark entirely so no one has it,

0:15:52.200 --> 0:15:55.080
<v Speaker 1>or everybody gets the blue check mark, which is the

0:15:55.120 --> 0:15:57.960
<v Speaker 1>same thing as nobody having it, but you wouldn't have

0:15:58.240 --> 0:16:02.000
<v Speaker 1>to pay for it. That's not about treating people equally.

0:16:02.440 --> 0:16:05.000
<v Speaker 1>You're talking about a paid for version and a non

0:16:05.040 --> 0:16:08.920
<v Speaker 1>paid for version. That's not equal. Besides, the blue check

0:16:08.960 --> 0:16:13.440
<v Speaker 1>mark was never intended to be a status symbol. That's

0:16:13.440 --> 0:16:16.160
<v Speaker 1>why it turned into what it was meant to be.

0:16:16.880 --> 0:16:19.920
<v Speaker 1>Was a way for Twitter to show that it had

0:16:20.080 --> 0:16:25.320
<v Speaker 1>verified the identity of that Twitter account, and that Twitter

0:16:25.480 --> 0:16:29.600
<v Speaker 1>could vouch that that account actually did represent the person

0:16:29.800 --> 0:16:33.640
<v Speaker 1>or brand that it was connected to. So if you

0:16:33.760 --> 0:16:36.960
<v Speaker 1>saw I don't know Nicholas Holt on Twitter and there's

0:16:36.960 --> 0:16:39.280
<v Speaker 1>a blue check mark, you know, oh, that actually does

0:16:39.760 --> 0:16:43.680
<v Speaker 1>belong to the actor Nicholas Holt, or probably to his

0:16:44.160 --> 0:16:48.440
<v Speaker 1>PR personnel who handle his social media accounts, but you

0:16:48.440 --> 0:16:50.400
<v Speaker 1>would know that that's the official one and it's not

0:16:50.440 --> 0:16:53.600
<v Speaker 1>just someone claiming to be that. That was the reason

0:16:53.640 --> 0:16:56.560
<v Speaker 1>for the verified check mark. It was to verify the

0:16:56.640 --> 0:16:59.360
<v Speaker 1>person was who they said they were. But of course

0:16:59.400 --> 0:17:02.360
<v Speaker 1>the checkmark did become a sort of social capital kind

0:17:02.400 --> 0:17:05.919
<v Speaker 1>of thing, like people were like, I'm important enough to

0:17:05.920 --> 0:17:09.960
<v Speaker 1>have a check mark, and that this somehow raised them

0:17:10.080 --> 0:17:13.359
<v Speaker 1>in social status above everyone else on Twitter, where social

0:17:13.400 --> 0:17:16.560
<v Speaker 1>status means really nothing, I would argue. I mean, I

0:17:16.600 --> 0:17:21.359
<v Speaker 1>say that as someone who got a blue check mark anyway.

0:17:22.160 --> 0:17:26.280
<v Speaker 1>Now the new version is weird because what the blue

0:17:26.359 --> 0:17:28.680
<v Speaker 1>check mark means is that the person's willing to pay

0:17:28.680 --> 0:17:31.560
<v Speaker 1>a fee to keep that blue check mark. I don't

0:17:31.560 --> 0:17:33.720
<v Speaker 1>know when that actually comes into play. I haven't even

0:17:33.800 --> 0:17:36.520
<v Speaker 1>seen a message saying hey, you're gonna need to pay

0:17:36.720 --> 0:17:38.800
<v Speaker 1>a subscription to keep your blue check mark. It may

0:17:38.840 --> 0:17:40.800
<v Speaker 1>have come through and I just ignored it because I

0:17:40.840 --> 0:17:44.679
<v Speaker 1>don't pop on Twitter that much anymore. So it's entirely

0:17:44.680 --> 0:17:47.359
<v Speaker 1>possible that's just on me, not on Twitter. Anyway. It

0:17:47.400 --> 0:17:50.920
<v Speaker 1>turns out that this version, the new version, that Elon

0:17:51.000 --> 0:17:55.000
<v Speaker 1>Musk is talking about, is even less fair than what

0:17:55.040 --> 0:17:58.520
<v Speaker 1>we had heard before, because while he's saying, hey, you're

0:17:58.520 --> 0:18:01.120
<v Speaker 1>gonna have to pay if you want that blue check mark,

0:18:01.680 --> 0:18:05.120
<v Speaker 1>there are around thirty five VIP users of Twitter who

0:18:05.400 --> 0:18:09.040
<v Speaker 1>not only are secure with their status, they actually get

0:18:09.080 --> 0:18:13.120
<v Speaker 1>a boost from Twitter. They get higher visibility than everybody

0:18:13.240 --> 0:18:18.159
<v Speaker 1>else does so that they appear in more Twitter timelines.

0:18:19.000 --> 0:18:22.000
<v Speaker 1>Now it will come as no surprise that Elon Musk

0:18:22.040 --> 0:18:23.600
<v Speaker 1>is in there. We've talked about in the past, how

0:18:23.640 --> 0:18:28.159
<v Speaker 1>Elon Musk has his Twitter feed boosted above other stuff

0:18:28.160 --> 0:18:31.919
<v Speaker 1>so that he shows up in more feeds. But others

0:18:31.960 --> 0:18:35.399
<v Speaker 1>are also on that list, and it ranges from ultra

0:18:35.480 --> 0:18:42.200
<v Speaker 1>conservative commentator Ben Shapiro to the progressive politician Alexandria Okazia Cortez.

0:18:42.960 --> 0:18:46.520
<v Speaker 1>And then there's a few celebrities thrown in there. There's

0:18:46.520 --> 0:18:49.640
<v Speaker 1>some athletes in there, there's other politicians in there. It's

0:18:49.640 --> 0:18:53.199
<v Speaker 1>a real animal farm situation. You know, all Twitter users

0:18:53.200 --> 0:18:57.080
<v Speaker 1>are equal, but some are more equal than others. Probably

0:18:57.119 --> 0:18:59.040
<v Speaker 1>not a big surprise to most of you out there.

0:18:59.080 --> 0:19:02.360
<v Speaker 1>It wasn't a big surprise to me. But again, just

0:19:02.440 --> 0:19:08.639
<v Speaker 1>more evidence that things at Twitter are our topsy turvy.

0:19:09.040 --> 0:19:12.520
<v Speaker 1>And hey, if your account doesn't have that paid for

0:19:12.800 --> 0:19:15.840
<v Speaker 1>blue check mark, it sounds like your tweets ain't ever

0:19:15.880 --> 0:19:18.760
<v Speaker 1>gonna show up as a recommended tweet in the four

0:19:18.920 --> 0:19:22.399
<v Speaker 1>you page of Twitter. So if you go to Twitter,

0:19:22.440 --> 0:19:25.040
<v Speaker 1>you'll see there's like a four you thing, And the

0:19:25.119 --> 0:19:29.119
<v Speaker 1>stuff in the four you section is curated for you.

0:19:29.160 --> 0:19:32.159
<v Speaker 1>It's supposed to be stuff that the algorithm serves to

0:19:32.160 --> 0:19:36.520
<v Speaker 1>you that you are likely to find interesting or engaging.

0:19:37.359 --> 0:19:41.280
<v Speaker 1>That's the purpose. Actual practice varies because goodness knows. The

0:19:41.359 --> 0:19:43.520
<v Speaker 1>last time I checked it out, I was like, none

0:19:43.560 --> 0:19:47.200
<v Speaker 1>of this feels like it's for me, but whatever. So anyway,

0:19:47.440 --> 0:19:49.359
<v Speaker 1>if you don't have a blue check mark, if you

0:19:49.400 --> 0:19:54.280
<v Speaker 1>haven't paid that subscription fee, then your tweets aren't going

0:19:54.320 --> 0:19:57.239
<v Speaker 1>to be showing up in anyone's for you page. So

0:19:57.280 --> 0:19:59.280
<v Speaker 1>I guess this is an incentive to try and get

0:19:59.320 --> 0:20:01.920
<v Speaker 1>more people to pay for that check mark so that

0:20:01.960 --> 0:20:05.880
<v Speaker 1>they get increased visibility on the platform. This change will

0:20:05.880 --> 0:20:09.359
<v Speaker 1>take effect on April fifteenth, according to Elon Musk. Not

0:20:09.400 --> 0:20:12.600
<v Speaker 1>only that, but only the paid for accounts will be

0:20:12.640 --> 0:20:16.200
<v Speaker 1>able to vote in Twitter polls. Now. Musk says this

0:20:16.280 --> 0:20:19.280
<v Speaker 1>is to fight off the issue with AI bots, which

0:20:19.320 --> 0:20:22.399
<v Speaker 1>is funny because I thought his whole plan was to

0:20:22.440 --> 0:20:26.840
<v Speaker 1>eliminate bots from the platform. I remember distinctly him talking

0:20:26.880 --> 0:20:29.800
<v Speaker 1>about this in the lead up to him purchasing Twitter,

0:20:29.920 --> 0:20:32.080
<v Speaker 1>that this was a big part of what his plan was.

0:20:32.560 --> 0:20:34.840
<v Speaker 1>But I guess now he's saying, Nope, you can't do that.

0:20:34.920 --> 0:20:38.280
<v Speaker 1>It's impossible. So the bots are going to ruin everything

0:20:38.359 --> 0:20:41.679
<v Speaker 1>like the ding dang poles unless we make it a

0:20:41.840 --> 0:20:46.879
<v Speaker 1>paid for service. So this could also maybe have something

0:20:46.880 --> 0:20:49.520
<v Speaker 1>to do with the fact that, you know, a few

0:20:49.520 --> 0:20:51.600
<v Speaker 1>months ago, he ran a poll asking if he should

0:20:51.600 --> 0:20:55.680
<v Speaker 1>step down from Twitter, and the majority voted yes, and then,

0:20:56.240 --> 0:20:58.840
<v Speaker 1>you know, one of his followers later suggested that maybe

0:20:58.920 --> 0:21:01.399
<v Speaker 1>only people who are subscribe to Twitter Blue should be

0:21:01.400 --> 0:21:03.399
<v Speaker 1>able to vote in those kinds of polls, and he

0:21:03.480 --> 0:21:07.560
<v Speaker 1>was like, huh, interesting, world may never care. I mean,

0:21:07.640 --> 0:21:12.200
<v Speaker 1>the world may never know whatever. CNBC reports that Twitter

0:21:12.280 --> 0:21:17.120
<v Speaker 1>also applied for a subpoena against gethub, the collaborative developer platform,

0:21:17.400 --> 0:21:20.760
<v Speaker 1>because someone using the handle free speech Enthusiast shared what

0:21:20.840 --> 0:21:24.320
<v Speaker 1>appeared to be segments of Twitter's own source code. Get

0:21:24.400 --> 0:21:27.119
<v Speaker 1>Hub complied with the court order and remove the code,

0:21:27.280 --> 0:21:30.560
<v Speaker 1>so it's no longer up there. Interestingly, Musk himself had

0:21:30.560 --> 0:21:33.920
<v Speaker 1>previously said he would make the source code for Twitter's

0:21:33.960 --> 0:21:38.440
<v Speaker 1>recommendation algorithm and open source code in an attempt to

0:21:38.480 --> 0:21:41.960
<v Speaker 1>suss out if there is any actual bias or preference.

0:21:42.359 --> 0:21:44.359
<v Speaker 1>You know, there are a lot of allegations that Twitter

0:21:45.320 --> 0:21:51.240
<v Speaker 1>downplay conservative messaging and prevents it from getting as large

0:21:51.760 --> 0:21:56.639
<v Speaker 1>an audience as other messages, so making it open source

0:21:56.680 --> 0:21:59.600
<v Speaker 1>would allow people to comb through the code and see

0:21:59.760 --> 0:22:03.840
<v Speaker 1>is in fact bias there. Also to find any mistakes

0:22:03.840 --> 0:22:06.720
<v Speaker 1>in the algorithm, or a way to create the algorithm

0:22:06.760 --> 0:22:09.160
<v Speaker 1>so that it is more effective in what it's supposed

0:22:09.200 --> 0:22:11.200
<v Speaker 1>to do. And the whole idea is that this is

0:22:11.240 --> 0:22:15.920
<v Speaker 1>going to create better transparency and fairness moving forward. But

0:22:16.000 --> 0:22:18.359
<v Speaker 1>you know, it hasn't happened yet. And as we just said,

0:22:18.960 --> 0:22:23.440
<v Speaker 1>Twitter moved to strike source code off of GitHub, though

0:22:23.480 --> 0:22:26.320
<v Speaker 1>I don't know necessarily that the source code in question

0:22:26.640 --> 0:22:30.480
<v Speaker 1>related to the recommendation algorithm, the stuff that was on GitHub,

0:22:31.600 --> 0:22:34.440
<v Speaker 1>and obviously it should be done on Twitter zone terms.

0:22:34.440 --> 0:22:36.720
<v Speaker 1>I do believe that. I'm just I don't know when

0:22:36.760 --> 0:22:41.680
<v Speaker 1>we're going to see that code actually become open source. Okay,

0:22:41.840 --> 0:22:43.880
<v Speaker 1>I've got a few more news stories in the tech

0:22:43.920 --> 0:22:46.600
<v Speaker 1>world to cover before we wrap this up, so let's

0:22:46.640 --> 0:22:58.440
<v Speaker 1>take another quick break and we'll be right back. The

0:22:58.520 --> 0:23:02.840
<v Speaker 1>chief technology officer of Nvidia, guy named Michael Kagan, recently

0:23:02.960 --> 0:23:07.879
<v Speaker 1>dismissed cryptocurrencies, saying they don't quote bring anything useful for

0:23:08.080 --> 0:23:11.239
<v Speaker 1>society end quote. This is according to an article in

0:23:11.440 --> 0:23:15.840
<v Speaker 1>the Guardian. This is interesting. It was not that long

0:23:15.880 --> 0:23:19.919
<v Speaker 1>ago that Nvidio was selling truckloads of GPUs to the

0:23:20.000 --> 0:23:24.360
<v Speaker 1>crypto mining community. It was really big business, so much

0:23:24.400 --> 0:23:27.840
<v Speaker 1>so that it actually became very difficult for anyone else

0:23:27.960 --> 0:23:31.959
<v Speaker 1>to find a new GPU, and if you did find one,

0:23:32.080 --> 0:23:35.360
<v Speaker 1>chances are the price was marked up so high that

0:23:35.440 --> 0:23:38.800
<v Speaker 1>it would be difficult to justify buying one. The aftermarket

0:23:38.840 --> 0:23:43.479
<v Speaker 1>on these things was insane. You had people either buying

0:23:43.480 --> 0:23:48.320
<v Speaker 1>them up to use as crypto mining rigs, or buying

0:23:48.359 --> 0:23:51.200
<v Speaker 1>them up and then selling them at an insane markup

0:23:51.440 --> 0:23:56.960
<v Speaker 1>to gamers. But then Ethereum, the cryptocurrency that had fueled

0:23:57.080 --> 0:24:01.240
<v Speaker 1>this GPU frenzy, finally made the trend transition from proof

0:24:01.240 --> 0:24:05.040
<v Speaker 1>of work to proof of steak operations. So with proof

0:24:05.040 --> 0:24:08.359
<v Speaker 1>of work, you need a lot of computing processing power

0:24:08.440 --> 0:24:11.560
<v Speaker 1>to be a successful miner in the system and to

0:24:11.800 --> 0:24:16.840
<v Speaker 1>be awarded new crypto tokens by participating in that system.

0:24:17.160 --> 0:24:19.840
<v Speaker 1>But with proof of steak, you just have to have

0:24:19.880 --> 0:24:23.639
<v Speaker 1>a big old pile of cryptocins already, and then you

0:24:23.800 --> 0:24:28.160
<v Speaker 1>stake some portion of those crypto coins in the system,

0:24:28.280 --> 0:24:30.520
<v Speaker 1>and the more you stake, the more likely you are

0:24:30.640 --> 0:24:34.840
<v Speaker 1>going to make even more money. Well, once it made

0:24:34.880 --> 0:24:39.359
<v Speaker 1>that transition, you suddenly didn't need all those GPUs to

0:24:39.480 --> 0:24:42.480
<v Speaker 1>just churn away at all hours of day and night,

0:24:42.880 --> 0:24:47.400
<v Speaker 1>so really overnight the demand for GPUs plummeted because now

0:24:47.480 --> 0:24:52.000
<v Speaker 1>cryptomners had no use for them, and not every cryptocin

0:24:52.080 --> 0:24:56.160
<v Speaker 1>has moved off of proof of work. There are cryptocurrencies

0:24:56.160 --> 0:24:58.119
<v Speaker 1>out there that still depend on proof of work, like

0:24:58.200 --> 0:25:02.119
<v Speaker 1>Bitcoin being the big one. Bitcoin is such a big

0:25:02.160 --> 0:25:06.879
<v Speaker 1>fish that GPUs don't have enough output. They They're processing

0:25:06.920 --> 0:25:12.920
<v Speaker 1>power is nowhere close to being competitive for bitcoin mining,

0:25:13.119 --> 0:25:16.080
<v Speaker 1>so you wouldn't buy a GPU if you wanted to

0:25:16.080 --> 0:25:19.879
<v Speaker 1>try and be a bitcoin miner. And then for smaller

0:25:20.240 --> 0:25:24.119
<v Speaker 1>crypto tokens, you know, less valuable ones, GPUs are overkill

0:25:24.480 --> 0:25:27.840
<v Speaker 1>because you'd spend more on electricity bills than you would

0:25:27.920 --> 0:25:30.720
<v Speaker 1>make through mining, so it doesn't make sense to use

0:25:30.880 --> 0:25:34.000
<v Speaker 1>GPUs for that. So in other words, what I'm saying

0:25:34.080 --> 0:25:36.520
<v Speaker 1>is it sounds like a little bit of suspicious timing

0:25:36.600 --> 0:25:39.960
<v Speaker 1>for Kagan to say that that cryptocurrency offers nothing useful

0:25:39.960 --> 0:25:43.720
<v Speaker 1>to society. It certainly offers nothing really useful for Nvidia

0:25:43.880 --> 0:25:48.520
<v Speaker 1>right now, but like, why are you saying nothing? Like

0:25:48.560 --> 0:25:51.399
<v Speaker 1>it's nothing useful to society at this point. Now. I

0:25:51.440 --> 0:25:54.119
<v Speaker 1>don't mean to say that I disagree with them. I

0:25:54.160 --> 0:25:58.480
<v Speaker 1>actually am you know, very hard on cryptocurrencies. If you've

0:25:58.520 --> 0:26:01.239
<v Speaker 1>been listening to this show. You know that, But I

0:26:01.280 --> 0:26:04.879
<v Speaker 1>do feel like if ethereum, we're still proof of work.

0:26:05.200 --> 0:26:09.120
<v Speaker 1>If it hadn't made that transition, I dealt Kagan would

0:26:09.160 --> 0:26:12.040
<v Speaker 1>have said this, that's what I'm saying. Maybe he would have.

0:26:12.200 --> 0:26:15.200
<v Speaker 1>Maybe I'm being too cynical, but it seems to be

0:26:15.720 --> 0:26:17.760
<v Speaker 1>one of those things where, like, you know, there's a

0:26:17.880 --> 0:26:20.760
<v Speaker 1>nasty break up, one person breaks up with the other

0:26:20.960 --> 0:26:23.320
<v Speaker 1>and the other person's like, well, I never loved you anyway.

0:26:23.640 --> 0:26:26.359
<v Speaker 1>That's kind of what it feels like to me. Maybe

0:26:26.400 --> 0:26:29.760
<v Speaker 1>I'm being too harsh here, But what does Kagan say

0:26:30.080 --> 0:26:33.360
<v Speaker 1>is useful to society? Well, that would be AI. And

0:26:33.400 --> 0:26:36.640
<v Speaker 1>there's here's a big shock AI. A lot of those

0:26:36.680 --> 0:26:40.119
<v Speaker 1>applications lean hard on parallel processing, which happens to be

0:26:40.200 --> 0:26:43.440
<v Speaker 1>something that GPUs are really good at. So the thing

0:26:43.480 --> 0:26:48.159
<v Speaker 1>that no longer needs GPUs is useless to society, but

0:26:48.200 --> 0:26:51.200
<v Speaker 1>the thing that really does need GPUs is going to

0:26:51.280 --> 0:26:55.000
<v Speaker 1>be super useful. GOT it doesn't seem like there's any

0:26:55.040 --> 0:26:58.439
<v Speaker 1>bias going on there at all. Huh. Reuters reports that

0:26:58.480 --> 0:27:04.840
<v Speaker 1>the United States Commodity Trading Commission or CFTC, has sued Binance,

0:27:05.119 --> 0:27:10.480
<v Speaker 1>the world's largest cryptocurrency exchange. They also sued Binance's founder,

0:27:10.960 --> 0:27:16.320
<v Speaker 1>Chong pen Xao Akacz. According to Reuters, the charge is

0:27:16.359 --> 0:27:22.239
<v Speaker 1>that Binance illegally quote offered and executed commodity derivatives transactions

0:27:22.280 --> 0:27:26.680
<v Speaker 1>on behalf of US persons end quote. Essentially, the CFTC

0:27:26.880 --> 0:27:29.760
<v Speaker 1>says that Binance was operating in such a way as

0:27:29.800 --> 0:27:34.440
<v Speaker 1>to avoid compliance with US laws securities laws in particular,

0:27:34.920 --> 0:27:37.360
<v Speaker 1>and Binance says that it has worked hard to make

0:27:37.400 --> 0:27:39.720
<v Speaker 1>sure that it doesn't have US users on its platform.

0:27:39.800 --> 0:27:42.359
<v Speaker 1>So even if it were doing the things that the

0:27:42.440 --> 0:27:46.520
<v Speaker 1>CFTC says it's doing, it doesn't apply because it didn't

0:27:46.520 --> 0:27:50.680
<v Speaker 1>involve any US transactions in the first place. There is

0:27:50.720 --> 0:27:53.800
<v Speaker 1>a US based version of Binance, and the relationship between

0:27:53.800 --> 0:27:57.159
<v Speaker 1>that entity and the main Binances it's kind of like

0:27:57.600 --> 0:28:03.119
<v Speaker 1>one of those Facebook relationship statuses. Know It's complicated. CNBC

0:28:03.359 --> 0:28:07.320
<v Speaker 1>reports that the giant Chinese e commerce company Ali Baba

0:28:07.440 --> 0:28:12.199
<v Speaker 1>is splitting into six business groups, and that these groups,

0:28:12.200 --> 0:28:14.680
<v Speaker 1>with the exception of one of them, could potentially spin

0:28:14.720 --> 0:28:18.160
<v Speaker 1>off to become their own independent company. Each group will

0:28:18.200 --> 0:28:21.000
<v Speaker 1>have its own CEO and its own board of directors,

0:28:21.000 --> 0:28:24.600
<v Speaker 1>and the groups include a cloud intelligence group, which current

0:28:24.640 --> 0:28:30.120
<v Speaker 1>Ali Baba CEO Daniel Joan will oversee a Talbau Tamaal

0:28:30.560 --> 0:28:34.520
<v Speaker 1>Commerce group which will focus on online shopping platforms. This

0:28:34.560 --> 0:28:38.280
<v Speaker 1>one will continue to operate as a subsidiary of Ali

0:28:38.320 --> 0:28:42.480
<v Speaker 1>Baba even if the other businesses spin off successfully. There's

0:28:42.520 --> 0:28:46.760
<v Speaker 1>there's a smart logistics company or business group, a global

0:28:46.840 --> 0:28:50.880
<v Speaker 1>digital commerce business group, a digital media and entertainment group,

0:28:50.960 --> 0:28:55.200
<v Speaker 1>and a local services group. Now the reason for this

0:28:55.440 --> 0:28:58.480
<v Speaker 1>is probably due to the fact that Ali Baba lost

0:28:58.560 --> 0:29:02.880
<v Speaker 1>around six hundred billion dollars in value over recent months,

0:29:02.880 --> 0:29:07.800
<v Speaker 1>and so this is an attempt to reorganize and allow

0:29:07.960 --> 0:29:12.160
<v Speaker 1>each business group to focus on what it does without

0:29:12.240 --> 0:29:15.200
<v Speaker 1>having to rely on the company as a whole to

0:29:15.360 --> 0:29:19.800
<v Speaker 1>support each business decision. So we'll see whether or not

0:29:20.040 --> 0:29:23.880
<v Speaker 1>this ends up having a net positive effect on the company.

0:29:24.480 --> 0:29:28.880
<v Speaker 1>Lift is getting a new CEO. According to CNBC, Logan Green,

0:29:29.120 --> 0:29:31.800
<v Speaker 1>the current CEO and a co founder of the company,

0:29:31.800 --> 0:29:36.120
<v Speaker 1>will step down on April seventeenth. David Risher, who formerly

0:29:36.160 --> 0:29:38.920
<v Speaker 1>worked at Amazon as an executive, will take over as

0:29:39.120 --> 0:29:42.960
<v Speaker 1>CEO of Lift. In addition, another co founder, John Zimmer,

0:29:43.000 --> 0:29:45.920
<v Speaker 1>who was serving as president of Lift, will be stepping

0:29:45.960 --> 0:29:49.480
<v Speaker 1>down and the Chairman of the board. Sean Agaroal will

0:29:49.520 --> 0:29:51.680
<v Speaker 1>step down as chairman but will remain on the board

0:29:51.680 --> 0:29:55.400
<v Speaker 1>of directors. Logan Green, the current CEO who's stepping down,

0:29:55.760 --> 0:29:59.760
<v Speaker 1>will take his place as chairman. So why the change, Well,

0:30:00.360 --> 0:30:02.160
<v Speaker 1>kind of like Ali Baba, Lift has been in a

0:30:02.200 --> 0:30:05.280
<v Speaker 1>really rough spot over the last year. Stock prices dropped

0:30:05.280 --> 0:30:09.200
<v Speaker 1>by around seventy percent year over year, So my guess

0:30:09.240 --> 0:30:11.480
<v Speaker 1>is that this is a big reorg push to try

0:30:11.520 --> 0:30:13.600
<v Speaker 1>and turn the company around and get those share prices

0:30:13.680 --> 0:30:18.360
<v Speaker 1>up and make stockholders happy. Amazon meanwhile, failed to get

0:30:18.400 --> 0:30:21.960
<v Speaker 1>a massive lawsuit thrown out of court last week. A

0:30:22.240 --> 0:30:26.360
<v Speaker 1>class action lawsuit alleges that Amazon engaged in anti competitive

0:30:26.400 --> 0:30:31.680
<v Speaker 1>practices that artificially drove prices higher through other retailers who

0:30:31.720 --> 0:30:35.680
<v Speaker 1>depend upon the Amazon platform. Namely, that Amazon had a

0:30:35.680 --> 0:30:39.760
<v Speaker 1>policy that prevents retailers from offering lower prices for goods

0:30:39.840 --> 0:30:42.920
<v Speaker 1>sold outside of Amazon if they also wanted to sell

0:30:42.960 --> 0:30:46.680
<v Speaker 1>those products on the Amazon platform. So it's that kind

0:30:46.720 --> 0:30:50.360
<v Speaker 1>of price fixing, is what the argument is here. The

0:30:50.480 --> 0:30:54.080
<v Speaker 1>judge hearing the arguments rejected Amazon's objections to the case,

0:30:54.560 --> 0:30:57.840
<v Speaker 1>so it can move forward through the court system. If

0:30:57.880 --> 0:31:01.840
<v Speaker 1>Amazon ultimately loses this case, it could face damages in

0:31:01.920 --> 0:31:05.720
<v Speaker 1>the billions of dollars, up to a potential one hundred

0:31:05.840 --> 0:31:09.080
<v Speaker 1>seventy two billion. Now that I expect it would ever

0:31:09.200 --> 0:31:13.120
<v Speaker 1>get to that. I think if Amazon lawyers suspected that

0:31:13.200 --> 0:31:15.480
<v Speaker 1>they would be unable to win the case, it would

0:31:15.520 --> 0:31:18.200
<v Speaker 1>go to a settlement. It would shock me if it

0:31:18.280 --> 0:31:23.520
<v Speaker 1>was otherwise. But still pretty massive deal there. And finally,

0:31:23.560 --> 0:31:26.880
<v Speaker 1>we've seen dozens of big companies announced massive layoffs for

0:31:26.960 --> 0:31:31.120
<v Speaker 1>the past few months, and Disney is no exception. Bob

0:31:31.160 --> 0:31:35.440
<v Speaker 1>Iger who quickly returned to Disney to replace Bob Chapeck

0:31:35.760 --> 0:31:40.320
<v Speaker 1>as CEO, and keep in mind Chapec was Bob Iger's replacement.

0:31:40.360 --> 0:31:43.560
<v Speaker 1>A few years ago, Iger said that Disney would be

0:31:43.640 --> 0:31:47.880
<v Speaker 1>downsizing to the tune of around seven thousand employees. Now

0:31:47.920 --> 0:31:51.800
<v Speaker 1>it sounds like the company's Metaverse team, which had around

0:31:51.800 --> 0:31:55.640
<v Speaker 1>fifty people in it, are among those who saw their

0:31:55.760 --> 0:31:59.800
<v Speaker 1>jobs eliminated. Now, I'm not sure that this is a

0:31:59.840 --> 0:32:03.280
<v Speaker 1>commentary on the Metaverse as a whole. You could see

0:32:03.280 --> 0:32:06.120
<v Speaker 1>this as Disney looking at something that at best is

0:32:06.160 --> 0:32:09.680
<v Speaker 1>going to take several years to become a thing and saying,

0:32:09.720 --> 0:32:12.560
<v Speaker 1>you know what, we need to focus our resources onto.

0:32:12.600 --> 0:32:15.880
<v Speaker 1>Here and now, and we can worry about the future

0:32:16.000 --> 0:32:19.719
<v Speaker 1>once we have stabilized, or you could look at it

0:32:19.800 --> 0:32:22.800
<v Speaker 1>as Disney losing confidence that the metaverse is ever going

0:32:22.800 --> 0:32:26.239
<v Speaker 1>to be anything more than a curiosity. Either way, it

0:32:26.280 --> 0:32:28.320
<v Speaker 1>really stinks for so many people to get hit with

0:32:28.440 --> 0:32:32.760
<v Speaker 1>job cuts. When it's happening across so many companies, particularly

0:32:32.760 --> 0:32:35.160
<v Speaker 1>in the tech sector, you really start to worry for

0:32:35.200 --> 0:32:37.160
<v Speaker 1>folks and hope that they can find a job that

0:32:37.200 --> 0:32:40.880
<v Speaker 1>makes good use of their skills and their knowledge and experience. Plus,

0:32:41.120 --> 0:32:42.640
<v Speaker 1>you know, it would be nice if it was a

0:32:42.720 --> 0:32:45.640
<v Speaker 1>job that they also liked. I guess, you know, you

0:32:45.680 --> 0:32:48.240
<v Speaker 1>can't ask for too much, I suppose, But yeah, I

0:32:48.320 --> 0:32:53.560
<v Speaker 1>don't know if this means that the metaverse is on hold.

0:32:54.440 --> 0:32:57.400
<v Speaker 1>I suspect that what we're seeing right now means that

0:32:57.480 --> 0:33:00.920
<v Speaker 1>it's going to take even longer for whatever the metaverse

0:33:01.080 --> 0:33:03.000
<v Speaker 1>is going to be for it to emerge, and it

0:33:03.040 --> 0:33:06.760
<v Speaker 1>may end up having a big effect on how the

0:33:06.760 --> 0:33:09.960
<v Speaker 1>metaverse emerges. It may mean that we get a very

0:33:10.120 --> 0:33:13.760
<v Speaker 1>different kind of metaverse at some point in the future

0:33:13.800 --> 0:33:18.640
<v Speaker 1>then we would if the economy hadn't gone into this

0:33:19.480 --> 0:33:24.360
<v Speaker 1>economic uncertainty that we're in right now. So hard to say,

0:33:24.680 --> 0:33:29.040
<v Speaker 1>I know again, just like cryptocurrency, I've been very skeptical

0:33:29.720 --> 0:33:32.960
<v Speaker 1>about the metaverse, but that's largely because I see it

0:33:33.120 --> 0:33:40.640
<v Speaker 1>as this poorly defined concept that a lot of companies

0:33:40.640 --> 0:33:44.040
<v Speaker 1>are trying to rush into to either claim a space

0:33:44.120 --> 0:33:47.480
<v Speaker 1>in when there's no real space there, or they're doing

0:33:47.480 --> 0:33:50.960
<v Speaker 1>their darnedest to be the entity that defines what the

0:33:51.000 --> 0:33:56.240
<v Speaker 1>metaverse is, which rarely ends up benefiting everybody. It largely

0:33:56.280 --> 0:34:01.120
<v Speaker 1>benefits whoever planted their flag in the first place. So

0:34:01.680 --> 0:34:06.200
<v Speaker 1>I'm still very skeptical about the whole thing. Also, I'm

0:34:06.240 --> 0:34:09.319
<v Speaker 1>getting older, Like we got to establish that every time, right,

0:34:09.360 --> 0:34:12.600
<v Speaker 1>I'm getting older, and as a person who's getting older,

0:34:12.640 --> 0:34:16.080
<v Speaker 1>I'm running into the risk of being unable to see

0:34:17.200 --> 0:34:22.560
<v Speaker 1>the potential benefits of emerging technologies. So I fully admit

0:34:22.600 --> 0:34:25.799
<v Speaker 1>that that's entirely possible. It could very well be that,

0:34:26.239 --> 0:34:29.040
<v Speaker 1>you know, in twenty years time, everyone will be looking

0:34:29.040 --> 0:34:33.919
<v Speaker 1>back on the metaversus being the truly revolutionary wave that

0:34:34.040 --> 0:34:37.520
<v Speaker 1>transformed the world for the better, and everybody's super happy

0:34:37.560 --> 0:34:39.960
<v Speaker 1>about it, and I'll just be the grouchy old man

0:34:40.600 --> 0:34:45.080
<v Speaker 1>in the shit in the woods who yells at passing clouds.

0:34:45.239 --> 0:34:48.520
<v Speaker 1>Entirely possible. I admit it. All right. That's it for

0:34:48.680 --> 0:34:51.360
<v Speaker 1>this episode of tech Stuff. Hope you are all well.

0:34:52.280 --> 0:34:53.799
<v Speaker 1>If you would like to reach out to me, do

0:34:53.840 --> 0:34:55.879
<v Speaker 1>so on Twitter. The handle for the show is tech

0:34:55.960 --> 0:34:59.520
<v Speaker 1>stuff HSW believe it. Even though there's no blue check

0:34:59.560 --> 0:35:02.320
<v Speaker 1>mark next to it, that's the brand for the show.

0:35:02.960 --> 0:35:05.920
<v Speaker 1>Or you can download the iHeartRadio apps free to downloads,

0:35:05.920 --> 0:35:08.880
<v Speaker 1>free to use. Navigate over to tech Stuff by putting

0:35:08.920 --> 0:35:11.400
<v Speaker 1>that into the little search field. It'll take you to

0:35:11.440 --> 0:35:13.680
<v Speaker 1>the tech stuff page. You'll see there's a little microphone

0:35:13.840 --> 0:35:15.799
<v Speaker 1>icon there. If you click on that, you can leave

0:35:15.840 --> 0:35:17.719
<v Speaker 1>me a voice message up to thirty seconds in late

0:35:17.840 --> 0:35:19.400
<v Speaker 1>Let me know what you would like to hear, and

0:35:19.480 --> 0:35:28.719
<v Speaker 1>I'll talk to you again really soon. Tech Stuff is

0:35:28.760 --> 0:35:33.319
<v Speaker 1>an iHeartRadio production. For more podcasts from iHeartRadio, visit the

0:35:33.320 --> 0:35:36.960
<v Speaker 1>iHeartRadio app, Apple Podcasts, or wherever you listen to your

0:35:37.000 --> 0:35:37.720
<v Speaker 1>favorite shows.