WEBVTT - Attack on Trump and Apple's Record High 0:00:02.600 --> 0:00:09.880 Bloomberg Audio Studios, podcasts, radio news from. 0:00:09.720 --> 0:00:13.159 The heart where innovation, money and power co lie in 0:00:13.240 --> 0:00:14.200 Silicon Valley. 0:00:14.320 --> 0:00:14.720 NBN. 0:00:15.080 --> 0:00:19.600 This is Bloomberg Technology with Caroline Hyde and Ed Ludlow. 0:00:33.080 --> 0:00:36.080 Live from New York and San Francisco. This is Bloomberg Technology. 0:00:36.400 --> 0:00:39.400 Coming up, we'll have full coverage on the aftermath the 0:00:39.479 --> 0:00:41.479 attack on former President Donald Trump. 0:00:41.720 --> 0:00:44.520 That says the RNC kicks off in Milwaukee. 0:00:44.560 --> 0:00:46.440 And we'll turn our attention to M and A. 0:00:46.440 --> 0:00:49.600 It's Google Eyes Whiz for its biggest ever acquisition. 0:00:49.880 --> 0:00:52.440 Plus we bring you the latest on Apple as shares 0:00:52.760 --> 0:00:55.680 hit a record high. For now, look, let's go on 0:00:55.720 --> 0:00:59.160 the ground to Milwaukee where former President Trump, we understand 0:00:59.240 --> 0:01:02.480 has arrived for the Republican National Convention joining us now 0:01:02.640 --> 0:01:05.120 in most Kayley lines, a lot of breaking news to 0:01:05.160 --> 0:01:06.040 continue to digest. 0:01:06.080 --> 0:01:09.520 Kayley, Yeah, there is, of course, the utmost being what 0:01:09.640 --> 0:01:12.240 happened over the weekend at Israelly in Pennsylvania, in which 0:01:12.280 --> 0:01:14.920 the president was shot former president in the right year, 0:01:14.959 --> 0:01:18.320 obviously an attash assassination attempt that he survived, but very 0:01:18.400 --> 0:01:20.679 much changes the tenor of what is going down in 0:01:20.760 --> 0:01:24.160 Milwaukee this week. There is an incredibly intense security. Donald 0:01:24.200 --> 0:01:27.280 Trump himself admitted that he was considering postponing his trip here, 0:01:27.319 --> 0:01:30.399 but did indeed come early, in fact, yesterday afternoon, and 0:01:30.480 --> 0:01:32.760 is preparing, we understand according to an interview he just 0:01:32.800 --> 0:01:35.759 gave to Fox News to announce his vice presidential pick today. 0:01:35.800 --> 0:01:37.880 But of course the news does not stop there. We 0:01:38.000 --> 0:01:40.560 learned just this morning that the judge in the criminal 0:01:40.560 --> 0:01:43.080 case brought against him in Florida, the Document's case, a 0:01:43.160 --> 0:01:46.240 judge appointed by him, Eiland Cannon, has now completely dismissed 0:01:46.240 --> 0:01:48.640 that case against him on the grounds and the appointment 0:01:48.680 --> 0:01:50.840 of special counsel Jack Smith, who of course brought that 0:01:50.960 --> 0:01:54.880 case was unconstitutional. Essentially went around Congress, is what the 0:01:55.000 --> 0:01:57.840 judge has ruled here. Obviously, there is room for an appeal. 0:01:57.880 --> 0:02:00.320 The Justice Department is probably likely to do so. But 0:02:00.400 --> 0:02:02.400 that's just another piece of news that works in the 0:02:02.440 --> 0:02:05.160 former president's favor. As the proceedings at the convention here 0:02:05.160 --> 0:02:06.320 get underway in Milwaukee. 0:02:07.840 --> 0:02:10.840 Later in the program, Kelly, We're going to discuss some 0:02:10.919 --> 0:02:13.760 of the big names from the technology world who have 0:02:13.840 --> 0:02:16.560 either come out and endorse President Trump following the events 0:02:16.560 --> 0:02:21.120 of the weekend, or weighed in frankly over what happened. 0:02:21.160 --> 0:02:24.880 The other story, of course, is the response from President Biden. 0:02:25.520 --> 0:02:27.799 What is that playing out like in the news cycle 0:02:27.800 --> 0:02:28.600 where you are. 0:02:30.720 --> 0:02:33.480 Well, The President clearly is still trying to keep himself 0:02:33.520 --> 0:02:34.480 in the news cycle. 0:02:34.560 --> 0:02:34.640 Ed. 0:02:34.680 --> 0:02:37.800 We have heard from him addressing cameras three times since 0:02:37.840 --> 0:02:40.400 that shooting on Saturday. He of course first made remarks 0:02:40.400 --> 0:02:42.799 from Delaware the same day that it happened. He gave 0:02:42.800 --> 0:02:46.640 brief remarks to the press in the early hours Sunday rather, 0:02:46.880 --> 0:02:49.400 and then of course gave that Oval Office address at 0:02:49.400 --> 0:02:53.240 primetime eight pm Eastern last night, basically calling for unity, 0:02:53.360 --> 0:02:56.160 calling on Americans to turn down the temperature, tone down 0:02:56.520 --> 0:02:58.440 some of the rhetoric in the aftermath of what he 0:02:58.520 --> 0:03:01.080 said is something that shouldn't be taking place in America, 0:03:01.160 --> 0:03:03.320 political violence. He said that there is no place for 0:03:03.400 --> 0:03:05.880 it in this country, even as he was giving that speech, 0:03:05.919 --> 0:03:08.000 not just as a president, but a presidential candidate who 0:03:08.040 --> 0:03:10.160 was running against the very man who, of course was 0:03:10.440 --> 0:03:13.160 shot at a rally on Saturday during the usual course 0:03:13.200 --> 0:03:15.360 of the democratic process. So we're likely to see a 0:03:15.400 --> 0:03:17.800 tone shift to from the Biden campaign, who have pulled 0:03:17.800 --> 0:03:20.760 down their advertisements in the aftermath of this assassination. 0:03:20.800 --> 0:03:21.160 Attempt. 0:03:21.200 --> 0:03:24.600 They're probably going to be retooling their messaging. And Donald Trump, 0:03:24.680 --> 0:03:26.440 we understand is as well. He of course will be 0:03:26.480 --> 0:03:29.639 addressing the convention on Thursday evening, and an interview to 0:03:29.680 --> 0:03:32.440 the Washington Examiner after the shooting, he said he is 0:03:32.520 --> 0:03:34.600 reworking that speech. He said it was going to be 0:03:34.639 --> 0:03:37.080 a humdigger and dinger, and now he's going to be 0:03:37.120 --> 0:03:39.560 used as an opportunity to call for national unity. 0:03:40.440 --> 0:03:43.760 Bloombo's Katie Lyons in Milwaukee, thank you. Meanwhile, we want 0:03:43.760 --> 0:03:48.200 to hone in now on social media and disinformation online 0:03:48.640 --> 0:03:52.080 following the attack on President Trump. We heard earlier today 0:03:52.160 --> 0:03:55.120 from former National Security Advisors to the US John Bolton 0:03:55.200 --> 0:03:59.040 on the attack, but also on how conspiracy theories will 0:03:59.080 --> 0:03:59.920 remain in its way. 0:04:00.880 --> 0:04:03.240 We need to do the review of this in a 0:04:03.360 --> 0:04:04.280 calm way. 0:04:04.960 --> 0:04:05.800 I think do it. 0:04:05.760 --> 0:04:09.240 Quickly as well, because there are already conspiracy theories about 0:04:09.240 --> 0:04:12.800 what happened on Saturday that I think are learning tunes. 0:04:12.840 --> 0:04:14.640 But I don't think they're going to go away until 0:04:14.640 --> 0:04:16.720 we have an independent objective review. 0:04:18.920 --> 0:04:21.840 I want to bring in Bloomberg's Davy Alba, who was 0:04:21.880 --> 0:04:24.400 on duty this weekend, and Davey, you wrote a really 0:04:24.480 --> 0:04:29.720 important report Saturday into Sunday about how quickly misinformation spread 0:04:30.160 --> 0:04:33.880 on key social media platforms, in particular, X, just summarize 0:04:33.920 --> 0:04:35.000 your reporting for us. 0:04:35.960 --> 0:04:36.239 Yeah. 0:04:36.279 --> 0:04:36.919 Absolutely. 0:04:37.080 --> 0:04:40.359 I mean this is kind of to be expected after 0:04:40.480 --> 0:04:44.880 any major news event that there will be information flying 0:04:44.920 --> 0:04:50.240 from all sides as the facts become clear. But the 0:04:50.320 --> 0:04:52.800 thing that we've seen over and over at this point 0:04:53.000 --> 0:04:56.560 is that people are all too willing to share conspiracy 0:04:56.600 --> 0:04:58.039 theories as well. 0:04:57.880 --> 0:04:59.560 About what actually happened. 0:05:00.000 --> 0:05:03.360 I think there was an advantage in this particular moment. 0:05:03.200 --> 0:05:06.440 That there were live cameras and so. 0:05:06.560 --> 0:05:11.640 Much documentation of what actually happened when the president was 0:05:11.920 --> 0:05:16.200 shot in the ear to the former president, I should say, However, 0:05:16.800 --> 0:05:22.480 you know that didn't stop some others from spreading unfounded narratives, 0:05:22.520 --> 0:05:27.359 such as, you know, some actual people who have hold 0:05:27.400 --> 0:05:32.000 elected office who said that President Biden ordered the shooting. 0:05:33.000 --> 0:05:37.120 There were rumors flying about the identity of the shooter 0:05:37.400 --> 0:05:40.920 that were completely unconfirmed, but people were pointing figures at 0:05:41.360 --> 0:05:46.640 specific individuals, And there were also tons of rumors about 0:05:46.680 --> 0:05:50.640 this event being staged when there is no evidence that. 0:05:51.320 --> 0:05:53.960 I just want to hone in on that fact because 0:05:54.000 --> 0:05:57.599 your story really brings it to light Davy. Ultimately, these 0:05:57.640 --> 0:06:03.080 aren't just average uses social media. These are sitting law makers, 0:06:03.400 --> 0:06:06.560 these are elected officials, and I want to understand how 0:06:06.640 --> 0:06:11.160 much more complex that makes the role of social media. 0:06:11.400 --> 0:06:14.640 Yes, that's a really great question, and I think what 0:06:14.800 --> 0:06:18.800 comes into play here is that we've seen content moderation 0:06:19.040 --> 0:06:24.520 efforts over the past year get weakened. You know, the 0:06:25.279 --> 0:06:30.440 idea that social media platforms are in a position of 0:06:31.279 --> 0:06:35.119 basically deciding what speech can remain up and what should 0:06:35.160 --> 0:06:39.240 be taken down is something that was very controversial over 0:06:39.279 --> 0:06:42.560 the past few years and really took root I think 0:06:42.600 --> 0:06:47.480 this year with many Republicans sort of saying that there 0:06:47.520 --> 0:06:50.360 are these social media platforms are in a position of 0:06:50.560 --> 0:06:55.240 censoring speech. So I think the platforms are in a tough. 0:06:55.040 --> 0:06:56.839 Position right now. You know, they have. 0:06:56.760 --> 0:07:00.560 To make these calls about whether someone who actually holds 0:07:00.600 --> 0:07:05.480 elected office can continue to post essentially whatever they want, 0:07:06.720 --> 0:07:11.760 or if the speech is so false that, you know, 0:07:12.600 --> 0:07:15.920 the facts simply don't bear the out, do they do 0:07:15.960 --> 0:07:18.720 something about it? And I think that the answer in 0:07:18.800 --> 0:07:23.000 this presidential election cycle is still not clear, and these 0:07:23.000 --> 0:07:24.880 companies continued to be in a tough place. 0:07:25.320 --> 0:07:27.080 Devi Alba brilliant reporting. 0:07:27.400 --> 0:07:29.960 We thank you working throughout the weekend, but we can 0:07:30.000 --> 0:07:32.400 now talk about someone who has deep experience what it's 0:07:32.440 --> 0:07:34.720 like to work within one of those social media platforms 0:07:34.880 --> 0:07:36.800 and indeed has a bird's eye perspective of it. Now, 0:07:36.880 --> 0:07:39.680 Kara Frederick's with us from the Heritage Foundation research and 0:07:39.800 --> 0:07:43.720 educational institution with air mission to promote conservative public policies. Kara, 0:07:43.800 --> 0:07:46.800 you served as director of the Tech Policy Center, with 0:07:46.960 --> 0:07:50.440 research focusing on big tech emerging technology policy. What's so 0:07:50.560 --> 0:07:54.360 fascinating is your prioral at Facebook as well. Facebook's Global 0:07:54.360 --> 0:07:56.640 Security counter Terrorism Analysis program. 0:07:56.920 --> 0:07:58.920 You helped create it, you lead it. 0:07:59.560 --> 0:08:02.160 Give us the sense of what ultimately the social media 0:08:02.160 --> 0:08:06.000 platforms are doing right now to respond to the weekend, Well. 0:08:05.880 --> 0:08:07.760 It's a farcrive from what I used to do starting 0:08:07.800 --> 0:08:11.080 in twenty sixteen, where we were essentially building an airplane 0:08:11.080 --> 0:08:14.200 in midflight. So what happens in a situation like this. 0:08:14.360 --> 0:08:18.160 I was specifically devoted to foreign Islamist terrorism, so it 0:08:18.200 --> 0:08:21.679 was a very different animal. But at the same time, 0:08:22.240 --> 0:08:24.600 what all of these teams are working together with it 0:08:24.800 --> 0:08:28.239 and companies are doing. They're working with their community operations teams, 0:08:28.280 --> 0:08:31.400 they're working with their engineers, usually the trust and safety engineers. 0:08:31.600 --> 0:08:33.920 They're working with their policy teams, they're working with people 0:08:33.920 --> 0:08:36.320 in global security, like the team that I led, and 0:08:36.360 --> 0:08:40.240 they're trying to identify if the attacker, attacker was on 0:08:40.280 --> 0:08:42.680 the platform, if he has active accounts, if he was 0:08:42.720 --> 0:08:45.679 ever on the platform, if he posted anything. 0:08:45.679 --> 0:08:47.880 They're trying to potentially. 0:08:47.360 --> 0:08:50.080 Take down some of that information for so the public 0:08:50.080 --> 0:08:54.400 can't necessarily see it and instigate copycat attacks and whatnot. 0:08:54.440 --> 0:08:55.880 But ultimately they. 0:08:55.720 --> 0:08:58.679 Are trying to identify the perpetrator in the minutes after 0:08:58.679 --> 0:09:01.720 those attacks that happened and get them off the platform. 0:09:01.800 --> 0:09:04.800 The whole mo of these teams is to make the 0:09:04.880 --> 0:09:08.160 platform hostile to these types of actors, and that's what 0:09:08.160 --> 0:09:10.200 they're going to be doing in the moments after an 0:09:10.240 --> 0:09:11.960 attack breaks on the news. 0:09:11.760 --> 0:09:15.000 Like this, Cura, good morning, and thank you for coming 0:09:15.000 --> 0:09:18.400 on Bloombay Technology. I'd like to just focus on what 0:09:18.520 --> 0:09:21.840 happened the last forty eight hours, the social media discussion 0:09:22.600 --> 0:09:26.520 immediately following the attack on former President Trump, but also 0:09:26.559 --> 0:09:29.360 the sort of continued sharing of content. And one thing 0:09:29.400 --> 0:09:32.280 that I noticed or I reflect on, is how many 0:09:32.280 --> 0:09:37.240 people discussing the platform X and how they were pleased 0:09:37.280 --> 0:09:40.120 basically to be able to get information so quickly. But 0:09:40.200 --> 0:09:43.600 as Davies just pointed out in her reporting, within the 0:09:43.640 --> 0:09:46.520 stuff shared on x much of it was misinformation. 0:09:47.120 --> 0:09:47.880 It was false. 0:09:48.200 --> 0:09:51.440 How do you balance speed of access to information to 0:09:51.600 --> 0:09:53.400 the check that you have to get it right. 0:09:55.080 --> 0:09:57.480 It is a very, very difficult question. 0:09:57.640 --> 0:10:00.920 And my best advice, having been a camera terrorism analysts 0:10:00.960 --> 0:10:03.520 for the Department of Defense for six years and then 0:10:03.640 --> 0:10:06.800 having worked in counter terrorism at the platform level at 0:10:06.800 --> 0:10:09.960 a big tech company, is to wait to be very 0:10:10.000 --> 0:10:13.880 prudent about number one even identifying the attacker. We knew 0:10:14.040 --> 0:10:17.640 in the couple minutes after this there were different pictures 0:10:17.720 --> 0:10:20.000 of who it could have potentially been floating around on 0:10:20.040 --> 0:10:20.680 social media. 0:10:21.080 --> 0:10:23.880 They were wrong. There are other pictures they were wrong. 0:10:23.960 --> 0:10:26.559 So I think the act of prudence in this case 0:10:26.679 --> 0:10:29.560 is to wait to try to get the full picture. 0:10:29.880 --> 0:10:31.720 And you know what's really interesting too. 0:10:31.920 --> 0:10:35.880 Is there is a cohort of open source analysts who 0:10:35.960 --> 0:10:37.720 are digging through a lot of these information. 0:10:37.960 --> 0:10:39.800 They're working many times on their own. 0:10:40.320 --> 0:10:43.440 They were not necessarily employed by these big tech companies. 0:10:43.440 --> 0:10:46.200 They're not even vendors or contracted out, but they're digging 0:10:46.280 --> 0:10:48.960 through a lot of the information. They're putting the pieces together. 0:10:49.240 --> 0:10:52.559 But my advice to everyone, just people that are looking 0:10:52.760 --> 0:10:56.600 at vowyeers, just wait the full story eventually comes out. 0:10:56.720 --> 0:10:59.880 But in terms of waiting, the scales in either way, 0:11:00.120 --> 0:11:02.320 I think big tech platforms have to do a much 0:11:02.360 --> 0:11:05.800 better job of showing that they are more neutral arbiters 0:11:05.800 --> 0:11:09.520 of information, because, as the Bloomberg reporter said, prior to this, 0:11:09.800 --> 0:11:12.520 you know, tech has been under a microscope because they 0:11:12.559 --> 0:11:15.480 haven't gotten so many of the calls. Right look at 0:11:15.480 --> 0:11:18.360 the Hunter Biden laptop story when Twitter was breaking the 0:11:18.440 --> 0:11:21.480 links to the dms for that legitimate story in the 0:11:21.520 --> 0:11:24.280 twenty twenty campaign. So big tech has a lot of 0:11:24.320 --> 0:11:26.079 making up to do when it comes to this. They 0:11:26.080 --> 0:11:27.720 don't have the trust of the people, and I would 0:11:27.720 --> 0:11:28.200 say rightly. 0:11:28.240 --> 0:11:31.240 So it was interesting that ahead of all of this, 0:11:31.440 --> 0:11:33.920 Meta did, indeed as it had said it would do, 0:11:34.000 --> 0:11:36.600 lift all restrictions on Trump's accounts ahead of the US election, 0:11:36.640 --> 0:11:39.640 and it was understood car and I'm interested is as 0:11:39.640 --> 0:11:42.880 we do try and gain trust, it's also at a 0:11:42.880 --> 0:11:46.199 time where we've got artificial intelligence and technology working against 0:11:46.240 --> 0:11:49.640 us in terms of really understanding the true nature of things. 0:11:49.679 --> 0:11:51.960 How much is that making life ever more difficult. 0:11:53.120 --> 0:11:56.720 I think it's exacerbating it to the nth degree. I mean, 0:11:56.840 --> 0:11:59.040 you look at AI, and I'm a big fan of AI. 0:11:59.120 --> 0:12:01.640 I'm a big fan and pro innovation. When it comes 0:12:01.679 --> 0:12:04.600 to open sourcing these models and these AI tools, I 0:12:04.640 --> 0:12:06.760 think that's going to take us farther than our foreign 0:12:06.800 --> 0:12:10.320 adversary counterparts who are working on more closed models of 0:12:10.360 --> 0:12:13.040 these large language models, et cetera, et cetera. So I 0:12:13.080 --> 0:12:14.839 am a big fan of AI. I want to get 0:12:14.840 --> 0:12:17.840 that out front. But as we say in the tech community, 0:12:18.200 --> 0:12:21.480 if you build it, they will come. Bad actors are 0:12:21.520 --> 0:12:25.240 always going to co opt technology that outpaces attempts to 0:12:25.280 --> 0:12:28.600 govern it. This technology is developing even more rapidly than 0:12:28.640 --> 0:12:31.000 I even foresaw when I was working with it in 0:12:31.040 --> 0:12:34.520 twenty seventeen and then researching it in twenty eighteen. Now 0:12:34.640 --> 0:12:37.280 we were talking of an AI winter back then another 0:12:37.360 --> 0:12:40.760 AI winter, and yet with the explosion of GPT four 0:12:40.920 --> 0:12:44.040 now called chat GPT. I mean it looks like these 0:12:44.080 --> 0:12:49.520 technologies because they can tailor information, amplify information, and do 0:12:49.720 --> 0:12:53.640 all of this at machine speed and scale. That's the kicker, 0:12:53.800 --> 0:12:56.800 machine speed and scale. We are going to see a 0:12:56.840 --> 0:12:59.440 world of synthetic media, where the truth is going to 0:12:59.440 --> 0:13:01.960 be harder and harder to discern, and that puts a 0:13:01.960 --> 0:13:03.640 lot of onus on the platform to get it right. 0:13:03.679 --> 0:13:06.880 At the abset car, we have a question from one 0:13:06.880 --> 0:13:09.080 of our audience members, which is how much of Project 0:13:09.160 --> 0:13:12.840 twenty twenty five will actually make it into the GOP platform. 0:13:13.040 --> 0:13:15.600 But let's answer that in the lens of technology, please. 0:13:16.760 --> 0:13:20.160 Yeah. So we don't know what's in Trump's mind or 0:13:20.240 --> 0:13:23.760 Trump's campaign's mind, but we do know what the platform 0:13:23.800 --> 0:13:27.360 has said. The platform is pro crypto, the platform is 0:13:27.440 --> 0:13:29.800 pro AI development, and the platform. 0:13:29.440 --> 0:13:30.240 Is pro space. 0:13:30.559 --> 0:13:33.319 So I think when it comes to what the Trump 0:13:33.440 --> 0:13:37.800 campaign and potential Trump presidency, second Trump presidency is going 0:13:37.880 --> 0:13:39.800 to do, I don't speak for them, but it looks 0:13:39.840 --> 0:13:43.719 like they're trying to paint an affirmative agenda, an affirmative 0:13:43.800 --> 0:13:46.080 vision of the things that they are for when it 0:13:46.080 --> 0:13:49.520 comes to technology, rather than the things that they are against. 0:13:49.679 --> 0:13:51.640 So I would expect a lot of. 0:13:51.720 --> 0:13:56.960 Pro innovation to take place under a potential second Trump presidency. 0:13:57.520 --> 0:13:59.640 An extraordinary voice to have join us today. 0:14:00.160 --> 0:14:03.680 Frederick Tech Policy Center, Director at the Heritage Foundation and 0:14:04.000 --> 0:14:07.320 decent Experience, having worked at Facebook, and indeed in counter terrorism. 0:14:07.360 --> 0:14:07.840 We thank you. 0:14:16.800 --> 0:14:19.240 Let's keep talking about the Trump trade that's kind of 0:14:19.240 --> 0:14:21.840 intensified following the events of the last forty eight hours. 0:14:21.920 --> 0:14:26.680 We spoke about DJT, but crypto related names, not just 0:14:26.720 --> 0:14:29.240 coinbases is sort of exchanged, but some of the miners 0:14:29.280 --> 0:14:32.120 also doing well. The idea being that Trump had been 0:14:32.160 --> 0:14:34.960 scheduled to speak at crypto events. He's seen as the 0:14:34.960 --> 0:14:39.040 more crypto friendly of the two candidates. I'd also point out, Caro, 0:14:39.400 --> 0:14:41.480 there are other stocks in other areas moving to the 0:14:41.560 --> 0:14:43.720 upside on the same logic, and. 0:14:44.120 --> 0:14:47.480 Certainly it's not only crypto names that are moving today. 0:14:47.600 --> 0:14:53.280 Investors reassessing assets across the board. Ed the price in 0:14:53.320 --> 0:14:56.080 what a Trump win in November really does mean across 0:14:56.120 --> 0:14:58.600 asset classes with us to regul all down bluemgs just 0:14:58.680 --> 0:15:02.200 mentu Shanali Bassek No, we can talk crypto more Volueishnati, 0:15:02.280 --> 0:15:04.960 but just dig into some of the industry utes power 0:15:05.040 --> 0:15:07.320 the S and P five hundred thirty eighth record. 0:15:07.440 --> 0:15:07.880 That's right. 0:15:08.000 --> 0:15:10.560 So of course ED just brought up crypto related stocks. 0:15:10.560 --> 0:15:12.640 So if you look at the bitwise ETF that tracks 0:15:12.680 --> 0:15:14.960 those crypto stocks, which I know SHNAI is going to 0:15:14.960 --> 0:15:17.080 get more to the bitcoin side of things, but of 0:15:17.080 --> 0:15:19.600 course that houses stocks like if you're looking at Marathon 0:15:19.640 --> 0:15:22.240 Digital right platforms, Coinbase. We did see a pop in 0:15:22.280 --> 0:15:25.280 that today because if you're thinking about President Trump, who 0:15:25.320 --> 0:15:28.560 has been very pro a crypto exposure and things like that, 0:15:28.600 --> 0:15:29.520 you're seeing a pop there. 0:15:29.560 --> 0:15:32.480 But then also beyond just that too, if you're looking at. 0:15:32.360 --> 0:15:36.480 Maybe more regulated type sectors with financials as well as healthcare. 0:15:36.680 --> 0:15:38.680 Those are two key areas to watch as far as 0:15:38.680 --> 0:15:41.200 what that means, because usually if there's say a Republican 0:15:41.240 --> 0:15:44.120 potential sweep there, that would be more easy policy toward. 0:15:44.160 --> 0:15:46.560 When you're looking at banks and financials, and then as 0:15:46.600 --> 0:15:49.160 well as the healthcare side of things, especially those insurers. 0:15:49.160 --> 0:15:52.200 If you're thinking about CBS obviously owns Etna, and then 0:15:52.560 --> 0:15:55.320 obviously when you think about other insurers like that too, 0:15:55.440 --> 0:15:57.600 those are some industries keeping a close eye on. And 0:15:57.640 --> 0:15:59.760 then also when it comes to fossil fuels, but then 0:15:59.800 --> 0:16:03.120 we're renewable energy or solar stocks too because those have 0:16:03.240 --> 0:16:06.720 been more prominent and gotten a support under a democratic presidency. 0:16:06.760 --> 0:16:09.400 But if you're thinking about sun solar sunrun in stocks 0:16:09.440 --> 0:16:11.600 like that, that's something to watch too, because they could 0:16:11.600 --> 0:16:14.520 have potentially more restrictions. There thing's going undone if there 0:16:14.560 --> 0:16:15.600 is a Republican president. 0:16:15.720 --> 0:16:17.960 Well, the exception is that rule probably Tesla that's up 0:16:17.960 --> 0:16:20.640 almost six percent in a bit of a Trump Shinali. 0:16:20.720 --> 0:16:23.160 The macro view here is that the market's trying to 0:16:23.160 --> 0:16:25.920 assess who's going to be president and by extension, what 0:16:26.080 --> 0:16:29.000 policy will be to various parts of the economy and 0:16:29.040 --> 0:16:30.080 different industry groups. 0:16:30.160 --> 0:16:32.400 Yeah, let's take a look across what that means across 0:16:32.440 --> 0:16:34.960 asset classes, because of course it is of course impacting 0:16:34.960 --> 0:16:38.800 the stock market and certain sectors, as Jess was saying, energy, financials, 0:16:38.880 --> 0:16:42.400 places that Trump would be expected to have a massive 0:16:42.880 --> 0:16:45.400 mark on policy. But then also you're seeing a really 0:16:45.440 --> 0:16:47.600 big move here, as we've been saying, in bitcoin, of 0:16:48.000 --> 0:16:50.560 roughly ten percent or more since Friday. 0:16:50.800 --> 0:16:52.000 It ended well below. 0:16:51.840 --> 0:16:55.880 Sixty thousand, closer to fifty seven thousand on Friday, and 0:16:55.920 --> 0:16:59.200 now you're watching it surge past sixty three thousand. Remember, 0:16:59.440 --> 0:17:02.680 Trump is largely seen as more of a pro crypto candidate, 0:17:02.920 --> 0:17:06.200 bitcoins not alone. You see the dollar also rising as well, 0:17:06.240 --> 0:17:09.720 because you are watching this expectation that in a Trump administration, 0:17:10.080 --> 0:17:12.080 what you would have as the odds rise. Is of 0:17:12.080 --> 0:17:15.600 course that tariff policy and therefore potentially a stronger dollar. 0:17:15.760 --> 0:17:18.879 I would also add point to the curve steepener. When 0:17:18.880 --> 0:17:20.880 you think about the bond market, it's not the front 0:17:21.000 --> 0:17:23.480 end of the curve really that's moving. It's the tail 0:17:23.600 --> 0:17:25.520 end of the curve. You're seeing a bigger sell off. 0:17:25.840 --> 0:17:30.359 Think here, taxes being looser in the future, potentially think 0:17:30.400 --> 0:17:34.520 here this idea that you might have a more of 0:17:34.560 --> 0:17:36.920 a fiscal burden on the United States. Of course, you're 0:17:36.960 --> 0:17:40.359 seeing that thirty year really sell off. Briefly today you've 0:17:40.440 --> 0:17:45.199 seen that two thirty curve disinvert and steepen, and of 0:17:45.240 --> 0:17:47.760 course that is that short end staying flat and that 0:17:47.880 --> 0:17:50.080 sell off in the long end starting to be pronounced. 0:17:50.119 --> 0:17:52.040 There are a lot of factors under the surface here, 0:17:52.040 --> 0:17:56.439 but just significantly many asset classes really moving into today. 0:17:56.960 --> 0:18:00.840 Perfect summary from Shananibase and just Ment. 0:18:08.240 --> 0:18:12.280 Google parent Alphabets in talks to acqui cyber security startup Whiz, 0:18:12.320 --> 0:18:14.640 according to a source, a deal that may be worth 0:18:14.680 --> 0:18:17.440 as much as twenty three billion dollars, which would make 0:18:17.480 --> 0:18:21.000 it the tech giant's largest acquisition to date. Bloomberg's mark 0:18:21.040 --> 0:18:23.720 Bergen's here from London. Give me the rest of the details. 0:18:23.760 --> 0:18:24.600 This was a surprise. 0:18:26.720 --> 0:18:30.040 It was a surprise, although if you're following Google and 0:18:30.080 --> 0:18:33.200 their cloud market over the past maybe five years, it's 0:18:33.320 --> 0:18:37.960 not their last big acquisition. Mandient in similar space cybersecurity 0:18:38.080 --> 0:18:39.920 slider right under Google Cloud. 0:18:40.080 --> 0:18:41.359 Looks like they're trying to do it again. 0:18:41.440 --> 0:18:43.399 This is something where you know they have been this 0:18:43.520 --> 0:18:48.040 sort of perpetual third place in the market behind aws 0:18:48.080 --> 0:18:50.960 in Microsoft. Microsoft in particular has been really pushing the 0:18:50.960 --> 0:18:54.240 album up on cybersecurity, making that the case that sort 0:18:54.240 --> 0:18:56.600 of that's their advantage Azure. But at the same time 0:18:56.600 --> 0:19:01.639 Microsoft has some pretty noticeable and public flaws and the 0:19:01.720 --> 0:19:05.520 mistakes around cybersecurity that Google, I think is trying to exploit. 0:19:06.359 --> 0:19:08.320 So it is an aberration in the sense that it's 0:19:08.320 --> 0:19:10.640 the biggest deal by a long measure in something where 0:19:10.680 --> 0:19:13.960 Google has stayed away from deals for anti trust reasons lately. 0:19:14.520 --> 0:19:18.119 Some vcs could be making a sizable return and recent 0:19:18.320 --> 0:19:21.119 Lightspeed Ventures Thrive Capital in the latest round. We understand 0:19:21.160 --> 0:19:23.840 of wiz, but is that regulatory risk ki Mark. 0:19:25.119 --> 0:19:28.600 So for sure is that this company's started in twenty twenty, 0:19:28.720 --> 0:19:32.320 so it's remarkable this twenty three billion would be almost 0:19:32.359 --> 0:19:36.080 twice its last valuation, so it's a pretty massive returns. 0:19:36.760 --> 0:19:38.639 I think the argument that Google's going to make. I 0:19:38.640 --> 0:19:41.000 won't speak for the FTC and the TJ on this, 0:19:41.040 --> 0:19:43.040 but the argument that Google's going to make is we 0:19:43.119 --> 0:19:46.280 are not in any way monopoly in the cloud market. 0:19:46.400 --> 0:19:48.880 But the Google will cite that they're in third position. 0:19:49.640 --> 0:19:52.120 That Mandy a deal I believe was about five billion. 0:19:52.480 --> 0:19:56.760 That one cleared. I don't expect Whiz will be approved 0:19:56.840 --> 0:20:00.240 on day two. These things typically take some time if 0:20:00.280 --> 0:20:03.680 it goes through, but it's you know, Microsoft is clearly 0:20:03.720 --> 0:20:06.199 has some issues around around the anti trust, so you 0:20:06.240 --> 0:20:08.600 can't rule that out. But I think Google's case is 0:20:08.640 --> 0:20:11.439 going to be in this market, we are far from 0:20:11.720 --> 0:20:13.600 the market leader and far from a monopoly. 0:20:14.119 --> 0:20:16.000 And as we know, the agreement hasn't been reached and 0:20:16.040 --> 0:20:18.639 talks could still end without one. But for now, interesting 0:20:18.680 --> 0:20:27.280 to talk with the Matt Bergen. We really appreciate it. 0:20:29.320 --> 0:20:32.320 Welcome back to Bloomberg Technology. Ed Lovelow here in San Francisco, 0:20:32.400 --> 0:20:33.360 Caroline hid in New York. 0:20:33.520 --> 0:20:36.200 An interesting one in Tesla more than five percent higher. 0:20:36.359 --> 0:20:38.600 It's got a solar business, a sizable one. 0:20:39.040 --> 0:20:39.080 Ed. 0:20:39.280 --> 0:20:42.600 It is like the name that encapsulates green policy. But 0:20:42.640 --> 0:20:46.040 it is also of course perhaps a Trump trade here 0:20:46.240 --> 0:20:49.560 with Elon Musk going in Previously, we understood the reporting 0:20:49.560 --> 0:20:53.560 happening on the weekend, Ed that indeed we saw being 0:20:53.640 --> 0:20:55.359