1 00:00:13,240 --> 00:00:15,600 Speaker 1: I'm Caroline Hinder Bluemberg's World tad quarters in New York, 2 00:00:15,640 --> 00:00:18,120 Speaker 1: and this is Bloomberg Technology coming up in the next hour. 3 00:00:18,200 --> 00:00:21,200 Speaker 1: Freedom of speech in question us on Twitter as Elon 4 00:00:21,320 --> 00:00:25,280 Speaker 1: Must suspends a number of journalists. We discussed Twitter's current policies. 5 00:00:25,680 --> 00:00:29,600 Speaker 1: Now Must continues to create some well on the fly. Plus, 6 00:00:29,600 --> 00:00:32,320 Speaker 1: just last year, a tornado took down an Amazon warehouse 7 00:00:32,320 --> 00:00:36,760 Speaker 1: in Illinois. Why lawmakers are questioning a rebuild And off 8 00:00:36,760 --> 00:00:39,159 Speaker 1: the back of the collapse of FDx crypto firm, Amber 9 00:00:39,240 --> 00:00:42,400 Speaker 1: has raised three hundred million dollars to tackle the damage done. 10 00:00:43,000 --> 00:00:47,040 Speaker 1: Details later in the hour. First Foremost well muted into 11 00:00:47,120 --> 00:00:48,839 Speaker 1: a week's training. Let's have want to look at how 12 00:00:48,880 --> 00:00:51,360 Speaker 1: tech stocks were under pressure. Once again, it seems to 13 00:00:51,360 --> 00:00:53,559 Speaker 1: be all about the Federal Reserve. The perfect person to 14 00:00:53,560 --> 00:00:56,080 Speaker 1: talk us through it, Kenny Greifeld in the House. What 15 00:00:56,200 --> 00:00:58,360 Speaker 1: a week. It was quite a week, and I have 16 00:00:58,440 --> 00:01:00,240 Speaker 1: some bad news. It was an ugly end to what 17 00:01:00,400 --> 00:01:02,560 Speaker 1: was a very ugly week. If you take a look 18 00:01:02,600 --> 00:01:05,280 Speaker 1: at the past five days for the SMP five hundred, 19 00:01:05,560 --> 00:01:08,120 Speaker 1: you can see we have a little optimism at one point. 20 00:01:08,160 --> 00:01:10,759 Speaker 1: That was on Tuesday, after those CPI numbers came out 21 00:01:11,120 --> 00:01:14,640 Speaker 1: softer than expected, still seven percent handle. But in any case, 22 00:01:14,840 --> 00:01:16,600 Speaker 1: then we had the FED and then it was just 23 00:01:17,080 --> 00:01:20,720 Speaker 1: one line down. Since then we're gonna end lower on 24 00:01:20,880 --> 00:01:23,800 Speaker 1: the SMP five hundred. If we break apart this index 25 00:01:23,880 --> 00:01:25,920 Speaker 1: into the sectors, let's take a look at some of 26 00:01:26,000 --> 00:01:29,720 Speaker 1: the worst performers. You had communication services, you had materials, 27 00:01:29,720 --> 00:01:32,480 Speaker 1: then you had financials as well, down two and a 28 00:01:32,560 --> 00:01:36,480 Speaker 1: half percent or so. Consumer Discretionary is where it gets interesting. 29 00:01:36,520 --> 00:01:38,800 Speaker 1: That was your worst performer on the sector level on 30 00:01:38,880 --> 00:01:42,120 Speaker 1: this week, off about three point six percent or so. 31 00:01:42,400 --> 00:01:44,840 Speaker 1: What's interesting to me is that it was Tesla and 32 00:01:44,880 --> 00:01:48,000 Speaker 1: it was for dragging down that sector. So a tale 33 00:01:48,080 --> 00:01:50,520 Speaker 1: of old and new. But let's break this apart even 34 00:01:50,560 --> 00:01:53,840 Speaker 1: further and look at some of the individual stories here. 35 00:01:53,880 --> 00:01:57,800 Speaker 1: You have Goldman falling today by about one percent or so. That's, 36 00:01:57,800 --> 00:02:00,800 Speaker 1: of course after reporting showed that Oldman is looking to 37 00:02:00,840 --> 00:02:03,919 Speaker 1: cut up to four thousand jobs. That would be about 38 00:02:03,960 --> 00:02:07,120 Speaker 1: an eight percent or so pull back again, that's according 39 00:02:07,120 --> 00:02:09,799 Speaker 1: to people familiar with the matter. You had Starbucks off 40 00:02:09,840 --> 00:02:12,960 Speaker 1: by more than one percent. That says news that Starbucks 41 00:02:13,000 --> 00:02:16,239 Speaker 1: staff are starting a three day strike. And I want 42 00:02:16,240 --> 00:02:18,320 Speaker 1: to end on some good news because it is a 43 00:02:18,360 --> 00:02:21,640 Speaker 1: Friday in December, meta platforms up by about two point 44 00:02:21,720 --> 00:02:25,560 Speaker 1: eight percent. That falls an upgrade from JP Morgan citing 45 00:02:25,720 --> 00:02:30,200 Speaker 1: their cost discipline Caroline. Unfortunately, margin is still the focus 46 00:02:30,240 --> 00:02:33,120 Speaker 1: for many. Katie, have a wonderful weekend. Can't believe the 47 00:02:33,120 --> 00:02:35,959 Speaker 1: holidays are almost upon us now. Before all that, we 48 00:02:36,000 --> 00:02:38,360 Speaker 1: were all kept pretty busy today. I don't know about you, 49 00:02:38,400 --> 00:02:40,760 Speaker 1: but all eyes glued. And what happened with Twitter? After 50 00:02:40,800 --> 00:02:43,840 Speaker 1: the platform, of course suspended the account of Arrival social 51 00:02:43,880 --> 00:02:46,480 Speaker 1: network must Done, which had tweeted a link to a 52 00:02:46,480 --> 00:02:48,880 Speaker 1: profile that tracked, of course, the flights of private jets 53 00:02:48,880 --> 00:02:53,119 Speaker 1: of wealthy individuals, including you know Muskus. Then, of course 54 00:02:53,120 --> 00:02:56,359 Speaker 1: a number of reporters covering Musque they posted screen grabs 55 00:02:56,360 --> 00:02:59,560 Speaker 1: of the offending tweet and was actully suspended themselves. That 56 00:02:59,639 --> 00:03:02,320 Speaker 1: include some pretty high profile journalists from the New York Times, 57 00:03:02,320 --> 00:03:05,560 Speaker 1: from CNN and other outlets. Here's what Elon Musk himself 58 00:03:05,760 --> 00:03:09,840 Speaker 1: had to say about that. They're not special because you're eternalist, 59 00:03:10,400 --> 00:03:14,800 Speaker 1: You're you're just your Twitter, You're in your citizen um 60 00:03:14,880 --> 00:03:20,160 Speaker 1: so no special treatment, um doc, your docs you get suspended. 61 00:03:20,320 --> 00:03:24,200 Speaker 1: In a story. Of course, this move has sparked a 62 00:03:24,240 --> 00:03:26,160 Speaker 1: lot of questions. We'll try to answer some of them 63 00:03:26,200 --> 00:03:30,239 Speaker 1: throughout the hour. First we get our Twitter expert in residence, 64 00:03:30,360 --> 00:03:33,880 Speaker 1: Kurt Wagner. Of course, Elon must talking on a spaces 65 00:03:34,080 --> 00:03:37,240 Speaker 1: of which then Spaces immediately became inaccessible. We couldn't do 66 00:03:37,240 --> 00:03:39,680 Speaker 1: our weekly spaces as we usually do. Just talk to 67 00:03:39,800 --> 00:03:44,520 Speaker 1: us about just what an extraordinary story this is today. Yeah, 68 00:03:44,600 --> 00:03:48,080 Speaker 1: I think it's just been a real example of Elon 69 00:03:48,240 --> 00:03:53,000 Speaker 1: really managing on the fly, right, and he is coming 70 00:03:53,080 --> 00:03:55,280 Speaker 1: up with sort of new policies. He's coming up with 71 00:03:55,320 --> 00:03:59,760 Speaker 1: decisions about suspensions, um, with things that you know directly 72 00:04:00,040 --> 00:04:03,760 Speaker 1: hacked him personally, and then that is translated to the 73 00:04:03,760 --> 00:04:07,080 Speaker 1: whole product, you know, in this case, within ours, right. 74 00:04:07,120 --> 00:04:09,600 Speaker 1: And so it's just kind of a good example of 75 00:04:09,640 --> 00:04:13,200 Speaker 1: how he's choosing to run Twitter, sort of how it's 76 00:04:13,200 --> 00:04:15,920 Speaker 1: going to be difficult to understand exactly what to make 77 00:04:15,960 --> 00:04:18,320 Speaker 1: of Twitter, right, because things can change so quickly and 78 00:04:18,320 --> 00:04:21,280 Speaker 1: so suddenly. Um. I think that's left a lot of 79 00:04:21,360 --> 00:04:24,200 Speaker 1: journalists in particular kind of worried or confused as to 80 00:04:24,279 --> 00:04:26,599 Speaker 1: what might be, you know, happening at some point in 81 00:04:26,600 --> 00:04:30,080 Speaker 1: the future. As well. If we look at the other 82 00:04:30,120 --> 00:04:33,120 Speaker 1: side and think, well, maybe he is really concerned about 83 00:04:33,200 --> 00:04:37,320 Speaker 1: his own safety and worried cut but ultimately deciding to 84 00:04:37,400 --> 00:04:39,400 Speaker 1: make the sort of decisions on the fly. How is 85 00:04:39,400 --> 00:04:42,880 Speaker 1: that affecting not only journalistic world? And we might say 86 00:04:42,920 --> 00:04:45,040 Speaker 1: this a bit inside baseball, but what about the advertiser? 87 00:04:45,080 --> 00:04:46,640 Speaker 1: What about the companies who want to use this as 88 00:04:46,640 --> 00:04:49,839 Speaker 1: a way to get eyeballs of the consumer. Well, what 89 00:04:49,920 --> 00:04:52,840 Speaker 1: we've been saying all along, right, is that advertisers in particular, 90 00:04:52,960 --> 00:04:56,760 Speaker 1: they don't like uncertainty. They like to be uh, they 91 00:04:56,800 --> 00:04:59,159 Speaker 1: like the platforms that they're on to sort of be boring. 92 00:04:59,200 --> 00:05:01,040 Speaker 1: They want to know what expect. They want to know 93 00:05:01,320 --> 00:05:02,960 Speaker 1: what type of content is going to be there, what 94 00:05:03,040 --> 00:05:05,880 Speaker 1: the rules are, how people are using it. Right, So, 95 00:05:05,920 --> 00:05:09,240 Speaker 1: when things are changing overnight, when things are changing sort 96 00:05:09,279 --> 00:05:13,120 Speaker 1: of drastically, um this quickly, I think that upsets or 97 00:05:13,240 --> 00:05:15,880 Speaker 1: unsettles a lot of advertisers because that's just not how 98 00:05:15,920 --> 00:05:18,080 Speaker 1: they're used to working and that's not what they prefer. 99 00:05:18,520 --> 00:05:20,920 Speaker 1: And so I think from a business standpoint, that's where 100 00:05:20,920 --> 00:05:23,280 Speaker 1: the concern is. If the policy can change overnight to 101 00:05:23,320 --> 00:05:26,040 Speaker 1: affect journalists in this case, you know what other policies 102 00:05:26,040 --> 00:05:28,279 Speaker 1: could happen in the future that could affect a brand 103 00:05:28,279 --> 00:05:31,240 Speaker 1: advertiser who was spending you know, thousands, hundreds of thousands 104 00:05:31,279 --> 00:05:34,360 Speaker 1: of dollars at the service and cut some interesting news 105 00:05:34,800 --> 00:05:39,239 Speaker 1: coming from another outlook about potentially Twitter still fundraising. Just briefly, 106 00:05:39,279 --> 00:05:42,200 Speaker 1: what do we know that? Yeah, there was a report 107 00:05:42,200 --> 00:05:44,560 Speaker 1: from Semapore and it came out and said that they 108 00:05:44,560 --> 00:05:46,799 Speaker 1: were raising money at the fifty four dollars and twenty 109 00:05:46,920 --> 00:05:50,480 Speaker 1: cents per share that Elon bought Twitter at right, and um, 110 00:05:50,520 --> 00:05:53,160 Speaker 1: in some cases, this isn't entirely surprising. We were just 111 00:05:53,200 --> 00:05:55,280 Speaker 1: talking about advertisers being a little nervous to be on 112 00:05:55,320 --> 00:05:58,080 Speaker 1: the platform. There's got to be some type of revenue 113 00:05:58,120 --> 00:06:00,200 Speaker 1: concern at the company right now. They're going to have 114 00:06:00,320 --> 00:06:03,920 Speaker 1: these debt interest payments due in January, and so, you know, 115 00:06:04,040 --> 00:06:08,279 Speaker 1: if you're having trouble making money making revenue through your business, 116 00:06:08,640 --> 00:06:11,760 Speaker 1: maybe there's a way to kind of fundraise and make 117 00:06:11,800 --> 00:06:14,400 Speaker 1: more money that way. So we'll see how many people 118 00:06:14,400 --> 00:06:16,800 Speaker 1: are willing to sign up for Elon's version of Twitter 119 00:06:16,880 --> 00:06:18,800 Speaker 1: now that they've had about six or seven weeks to 120 00:06:18,839 --> 00:06:21,440 Speaker 1: see how he's running the company. But UM, I think 121 00:06:21,440 --> 00:06:23,640 Speaker 1: to me, this speaks to a need of the company 122 00:06:23,960 --> 00:06:28,040 Speaker 1: in search of more cash. Always great to get your expertise. 123 00:06:28,080 --> 00:06:31,600 Speaker 1: Thank you for setting us up so well. Happy weekend friend. Meanwhile, 124 00:06:31,839 --> 00:06:35,159 Speaker 1: let's dive deeper into all of this. Jennifer Greigel, Associate 125 00:06:35,160 --> 00:06:38,400 Speaker 1: Professor of Communications at Syracuse University, also of course an 126 00:06:38,480 --> 00:06:41,080 Speaker 1: expert in social media, been part of our discussion on 127 00:06:41,120 --> 00:06:43,640 Speaker 1: Bloomberg since the early days and must possible acquisition of 128 00:06:43,680 --> 00:06:48,840 Speaker 1: Twitter and chickens coming home to roost in some way. Jennifer, Yeah, 129 00:06:49,000 --> 00:06:52,600 Speaker 1: not much has changed. You know. Maybe the gift though, 130 00:06:52,680 --> 00:06:55,440 Speaker 1: is that Musk has just made it painfully obvious that 131 00:06:55,480 --> 00:06:58,040 Speaker 1: it's time to go, especially for those journalists that we 132 00:06:58,040 --> 00:07:00,920 Speaker 1: were just talking about, right and know about Kurt maybe 133 00:07:00,960 --> 00:07:06,200 Speaker 1: he watches World Cup, but I am there watching what's happening. Uh, 134 00:07:06,279 --> 00:07:09,320 Speaker 1: you know within the journalism world, um, specifically with an 135 00:07:09,320 --> 00:07:11,720 Speaker 1: eye towards the free press. And maybe it's a good 136 00:07:11,720 --> 00:07:14,640 Speaker 1: time to to step back and remember what that is. 137 00:07:14,760 --> 00:07:17,960 Speaker 1: It's it's supposed to be free from the government. Right. 138 00:07:18,080 --> 00:07:21,600 Speaker 1: So well, we're thinking about like free speech issues and 139 00:07:21,720 --> 00:07:24,160 Speaker 1: you know what are elon Musk's rights, you know, like 140 00:07:24,240 --> 00:07:26,640 Speaker 1: he gets to have his free speech because he owns this, 141 00:07:27,040 --> 00:07:29,480 Speaker 1: but the rest of us, well not so much, right, 142 00:07:29,640 --> 00:07:32,600 Speaker 1: And uh, you know, the risk I think has really 143 00:07:32,640 --> 00:07:35,680 Speaker 1: proven to be that we cannot have Twitter b at 144 00:07:35,680 --> 00:07:39,200 Speaker 1: the center of journalism. We don't want some type of 145 00:07:39,680 --> 00:07:43,160 Speaker 1: you know, like Baron or you know, rich, you know, 146 00:07:43,280 --> 00:07:47,760 Speaker 1: kind of mogul kind of deciding who is essentially authentic, 147 00:07:47,880 --> 00:07:51,600 Speaker 1: should be trusted, who's a journalist, who who should be 148 00:07:51,600 --> 00:07:54,440 Speaker 1: on there, who can say what and when? And uh, 149 00:07:54,520 --> 00:07:56,960 Speaker 1: you know again, I think it's just for me, it's 150 00:07:57,040 --> 00:08:00,800 Speaker 1: the journalism piece, and that's that's uh, something we need 151 00:08:00,840 --> 00:08:05,760 Speaker 1: to focus on more, Jennifer. The other side has been 152 00:08:05,760 --> 00:08:09,960 Speaker 1: discussed that other voices have been suppressed for years, and 153 00:08:10,000 --> 00:08:12,800 Speaker 1: in fact, I've been coverage of that, many of it 154 00:08:12,880 --> 00:08:15,680 Speaker 1: being associated with right wing and right wing press. What 155 00:08:15,720 --> 00:08:17,880 Speaker 1: do you make of that and whether or not we're 156 00:08:18,080 --> 00:08:23,400 Speaker 1: deafening ourselves to certain sides of a conversation about Yeah, Um, 157 00:08:23,440 --> 00:08:25,960 Speaker 1: I know, for one, I've been reading the Twitter files. 158 00:08:26,080 --> 00:08:28,680 Speaker 1: I think it's problematic and how the information has come 159 00:08:28,720 --> 00:08:31,520 Speaker 1: out and then and not enough journalists have beent access 160 00:08:31,560 --> 00:08:33,480 Speaker 1: to that, so we're getting kind of like, you know, 161 00:08:33,600 --> 00:08:38,200 Speaker 1: pieces of those stories, you know, the kind of cherry picking, right, 162 00:08:38,280 --> 00:08:41,320 Speaker 1: But for me, there's actually some insights in there. We 163 00:08:41,360 --> 00:08:45,600 Speaker 1: have real cases into you know, how deeply connected the 164 00:08:45,640 --> 00:08:50,120 Speaker 1: federal government was, you know, and with the content moderation teams. 165 00:08:50,480 --> 00:08:53,280 Speaker 1: That's concerning, um. But I know I was one of 166 00:08:53,840 --> 00:08:56,960 Speaker 1: you know, maybe few out there raising alarms around what 167 00:08:57,120 --> 00:08:59,760 Speaker 1: was happening around the New York Post when the hunter 168 00:08:59,840 --> 00:09:01,520 Speaker 1: by in case came out and it was a little 169 00:09:01,520 --> 00:09:03,240 Speaker 1: bit of crickets out there. But for me, it was 170 00:09:03,240 --> 00:09:06,240 Speaker 1: a case as to what is journalism? And I think 171 00:09:06,280 --> 00:09:10,000 Speaker 1: that's showing up again, showing up again with you know, 172 00:09:10,080 --> 00:09:12,120 Speaker 1: if you were just saying the suspension of you know, 173 00:09:12,160 --> 00:09:16,079 Speaker 1: like Tony O'Sullivan at CNN, Ryan mack at at the 174 00:09:16,080 --> 00:09:19,240 Speaker 1: New York Times, like they were reporting on this, and 175 00:09:19,360 --> 00:09:23,120 Speaker 1: so again they didn't you know, hack any information. They 176 00:09:23,600 --> 00:09:27,319 Speaker 1: did India compiled this uh yeah, this jet tracker right 177 00:09:27,400 --> 00:09:29,800 Speaker 1: like that. They were reporting out what was happening. So 178 00:09:29,840 --> 00:09:32,360 Speaker 1: what is news? And you know, can they share a 179 00:09:32,400 --> 00:09:34,680 Speaker 1: link to a New York Times story? You know that 180 00:09:34,840 --> 00:09:38,520 Speaker 1: was uh you know sharing that information or was it 181 00:09:38,559 --> 00:09:40,800 Speaker 1: because it was in a tweet? I'm just not sure. 182 00:09:40,880 --> 00:09:44,360 Speaker 1: So for me, it's really a question of, uh, you know, 183 00:09:44,400 --> 00:09:47,880 Speaker 1: what is news? Who's a journalist? And are they being 184 00:09:47,920 --> 00:09:53,720 Speaker 1: censored on there? Citizen journalism though, has maybe it's the 185 00:09:53,720 --> 00:09:57,000 Speaker 1: force of the crypto stare as well, in large part 186 00:09:57,040 --> 00:09:59,760 Speaker 1: working in tandem with this narrative of Elon must taking 187 00:09:59,760 --> 00:10:02,679 Speaker 1: over Twitter. But it has been extraordinary that in some 188 00:10:02,720 --> 00:10:05,960 Speaker 1: parts you have had direct access to some Bakmun freed 189 00:10:06,040 --> 00:10:08,679 Speaker 1: Vara Twitter spaces in a way that never used to 190 00:10:08,760 --> 00:10:11,680 Speaker 1: be the case, and journalism sort of the journalists being 191 00:10:11,679 --> 00:10:14,960 Speaker 1: cut out in some way. Where where are we going 192 00:10:15,000 --> 00:10:18,120 Speaker 1: to go to for our trusted sources going forward? Does 193 00:10:18,160 --> 00:10:21,640 Speaker 1: Twitter still have a role to play? Do you think? Well, 194 00:10:21,640 --> 00:10:24,200 Speaker 1: a big question for a while, like are the stock 195 00:10:24,240 --> 00:10:28,480 Speaker 1: markets decoupling from the signals that used to be coming 196 00:10:28,559 --> 00:10:32,880 Speaker 1: sometimes from data sets like Twitter? Right? But when it 197 00:10:32,880 --> 00:10:35,920 Speaker 1: comes to citizen journalism, I think that's you know, I 198 00:10:35,960 --> 00:10:39,080 Speaker 1: would say different than having direct access to like, you know, 199 00:10:39,240 --> 00:10:43,000 Speaker 1: somebody who's UM pitching an investment, right, Like, these are 200 00:10:43,040 --> 00:10:47,840 Speaker 1: what we call sources there essentially news material and until 201 00:10:48,120 --> 00:10:51,280 Speaker 1: it's vetted by a journalist, uh, it's really not news. 202 00:10:51,320 --> 00:10:53,760 Speaker 1: So we have to remember that even in the case 203 00:10:53,800 --> 00:10:56,960 Speaker 1: of the citizen journalists, you know, they may not be 204 00:10:57,280 --> 00:11:00,640 Speaker 1: UM even identifying as such. They may you just somebody 205 00:11:00,640 --> 00:11:03,800 Speaker 1: who is there and uh, some type of crisis happened 206 00:11:03,840 --> 00:11:06,560 Speaker 1: and they happen to be pointing their camera at something, 207 00:11:06,679 --> 00:11:09,600 Speaker 1: and they should still be seen as a source. Um. 208 00:11:09,679 --> 00:11:11,959 Speaker 1: And I think that's some of the struggle with citizen 209 00:11:12,040 --> 00:11:14,280 Speaker 1: journalism is that, you know, maybe there is not the 210 00:11:14,320 --> 00:11:19,720 Speaker 1: same type of ethical grounding. But this even gets more discussion. 211 00:11:19,760 --> 00:11:21,320 Speaker 1: I would say, you know, what, what is the role 212 00:11:21,360 --> 00:11:25,560 Speaker 1: of a citizen journalist more than say who is um, 213 00:11:25,720 --> 00:11:28,440 Speaker 1: somebody who's working for like state media for example. So 214 00:11:28,480 --> 00:11:30,559 Speaker 1: I'm gonna just say one of the people that were 215 00:11:30,559 --> 00:11:34,760 Speaker 1: suspended overnight, uh work for a Voice of America. And 216 00:11:35,080 --> 00:11:37,960 Speaker 1: I would say that we need to start remembering that 217 00:11:37,960 --> 00:11:41,120 Speaker 1: that is funded by the United States government. So you know, 218 00:11:41,360 --> 00:11:44,280 Speaker 1: there's like the free press over here, and then there's 219 00:11:44,400 --> 00:11:47,400 Speaker 1: there's also something else happening on Twitter, and for years 220 00:11:47,440 --> 00:11:50,320 Speaker 1: that hasn't been labeled. So again, like you know, some 221 00:11:50,360 --> 00:11:52,640 Speaker 1: people watching sports and I'm just over here eating popcorn, 222 00:11:52,720 --> 00:11:55,840 Speaker 1: be like, okay, US state media has been suspended. Did 223 00:11:55,840 --> 00:11:58,760 Speaker 1: anyone notice, uh, you know, like okay, we got citizen 224 00:11:58,840 --> 00:12:01,120 Speaker 1: journalists coming in. Okay, n sure, but like what are 225 00:12:01,200 --> 00:12:04,280 Speaker 1: what is their role on? It's too so but for me. 226 00:12:04,440 --> 00:12:07,160 Speaker 1: We have to remember the free press is what matters, 227 00:12:08,200 --> 00:12:10,720 Speaker 1: making sure it's healthy and that it's it's not being 228 00:12:10,720 --> 00:12:15,199 Speaker 1: controlled and kind of keep by, you know, some type 229 00:12:15,200 --> 00:12:21,840 Speaker 1: of rich overlord. Jennifer Greigel, Associate professoral Communications at Serokees University, 230 00:12:21,960 --> 00:12:24,480 Speaker 1: Thank you. And some breaking news to keep the narrative 231 00:12:24,559 --> 00:12:27,200 Speaker 1: going is that apparently you know, masku is saying Twitter 232 00:12:27,240 --> 00:12:30,360 Speaker 1: spaces is back if you're missing it for those twenty 233 00:12:30,360 --> 00:12:40,160 Speaker 1: four hours or so. Let's talk about Amazon because it 234 00:12:40,240 --> 00:12:43,360 Speaker 1: is planning on rebuilding a warehouse over in Illinois after 235 00:12:43,400 --> 00:12:46,120 Speaker 1: it collapsed in a tornado last year. It actually killed 236 00:12:46,120 --> 00:12:49,920 Speaker 1: six workers. It prompted actually an investigation by workplace safety regulators, 237 00:12:49,920 --> 00:12:53,400 Speaker 1: but three US lawmakers say the e commerce giant should 238 00:12:53,440 --> 00:12:56,800 Speaker 1: be constructing it with stronger safety features than existed before 239 00:12:56,840 --> 00:13:00,200 Speaker 1: the collapse. Expensive SOPO has been across this store, and 240 00:13:00,840 --> 00:13:04,160 Speaker 1: in many ways people the whole tornado and the effect 241 00:13:04,200 --> 00:13:08,160 Speaker 1: and the havocate reaked on families. It put into start 242 00:13:08,240 --> 00:13:10,920 Speaker 1: relief some of the issues about contacting people when they're 243 00:13:10,920 --> 00:13:12,960 Speaker 1: in and working around Amazon, and indeed some of the 244 00:13:12,960 --> 00:13:16,959 Speaker 1: safety measures in place. Yeah, there was so there was 245 00:13:17,000 --> 00:13:19,480 Speaker 1: a very strong reaction. Six people died at Amazon. It 246 00:13:19,600 --> 00:13:21,520 Speaker 1: was more than fifty deaths as a result of this 247 00:13:21,559 --> 00:13:25,079 Speaker 1: Cornator is pretty devastating event, and so Amazon was a 248 00:13:25,160 --> 00:13:27,480 Speaker 1: piece of it. And at the time there is a 249 00:13:27,559 --> 00:13:32,120 Speaker 1: lot of attention on our our existing building standards adequate 250 00:13:32,400 --> 00:13:36,320 Speaker 1: to protect people if we are seeing more severe weather events, um, 251 00:13:36,480 --> 00:13:38,600 Speaker 1: and so that was a big emphasis. Now the latest 252 00:13:38,640 --> 00:13:42,359 Speaker 1: thing is, uh, you know, there's in equations that Amazon's 253 00:13:42,400 --> 00:13:45,400 Speaker 1: basically and the landlord is basically slapping up the same 254 00:13:45,440 --> 00:13:49,120 Speaker 1: building that was there previously. And these lawmakers are probing 255 00:13:49,600 --> 00:13:52,920 Speaker 1: Amazon with questions about, you know, precisely, what are you 256 00:13:52,960 --> 00:13:55,280 Speaker 1: doing to improve the safety of this facility in the 257 00:13:55,320 --> 00:13:58,520 Speaker 1: event that there is a recurrence of this event. But 258 00:13:58,640 --> 00:14:01,839 Speaker 1: it is It is a difficult because storm shelters are 259 00:14:01,840 --> 00:14:05,360 Speaker 1: not required. Things that that may have protected these workers 260 00:14:05,679 --> 00:14:09,160 Speaker 1: more are not necessarily acquired, They're like recommended. So a 261 00:14:09,200 --> 00:14:11,240 Speaker 1: lot of the two goes back on them on the 262 00:14:11,280 --> 00:14:14,559 Speaker 1: on the regulating side, what are they actually going to require, um, 263 00:14:14,920 --> 00:14:19,440 Speaker 1: you know, industrial buildings to have to protect workers. Amazon 264 00:14:19,480 --> 00:14:21,440 Speaker 1: did say in a statement that they strengthen their emergency 265 00:14:21,480 --> 00:14:24,520 Speaker 1: response plans and tailor them to meet specific needs of 266 00:14:24,560 --> 00:14:27,720 Speaker 1: individual sites. I'm interested Spencer just all of this comes 267 00:14:27,720 --> 00:14:30,560 Speaker 1: amid a macro picture where the pendulum kind of swings 268 00:14:30,560 --> 00:14:34,040 Speaker 1: in Amazon's direction. They wanted they're an employer. Perhaps they're 269 00:14:34,080 --> 00:14:37,400 Speaker 1: thinking more about employees who want the jobs looking for them, 270 00:14:37,400 --> 00:14:40,359 Speaker 1: willing to come and perhaps work in these sorts of environments. 271 00:14:40,360 --> 00:14:43,280 Speaker 1: And and I'm interested in also the spillover effects. We 272 00:14:43,360 --> 00:14:45,760 Speaker 1: here just the UK their latest headline that we're going 273 00:14:45,760 --> 00:14:47,440 Speaker 1: to get a strike. I think it's the first strike 274 00:14:47,760 --> 00:14:51,120 Speaker 1: in the UK from Amazon workers over in Coventry. What 275 00:14:51,120 --> 00:14:53,480 Speaker 1: would workers at Amazon think about all of this at 276 00:14:53,480 --> 00:14:56,880 Speaker 1: the moment, Well, it's hard to generalize, right, They've got 277 00:14:56,880 --> 00:15:00,240 Speaker 1: more than really employees, and you have people in these 278 00:15:00,280 --> 00:15:03,520 Speaker 1: facilities who are not satisfied and want to organize. You 279 00:15:03,600 --> 00:15:05,920 Speaker 1: have other people who are perfectly content and don't want 280 00:15:05,920 --> 00:15:08,880 Speaker 1: to organize. We've had some you know, quite a few 281 00:15:08,960 --> 00:15:13,600 Speaker 1: union elections failed after this. Uh historic when in Staten Island. 282 00:15:14,000 --> 00:15:15,720 Speaker 1: Um and in terms of that you pay things. They're 283 00:15:15,720 --> 00:15:18,520 Speaker 1: talking about striking in January. That's kind of a time 284 00:15:18,520 --> 00:15:21,720 Speaker 1: of year when Amazon generally you know, whittling and staff 285 00:15:21,760 --> 00:15:23,680 Speaker 1: down a little bit after the holiday conscient So I 286 00:15:23,680 --> 00:15:25,880 Speaker 1: don't strategically, it doesn't seem to be like such a 287 00:15:25,880 --> 00:15:28,480 Speaker 1: bad time. And also, the UK is about one tenth 288 00:15:28,880 --> 00:15:31,840 Speaker 1: of the revenue of of U s Amagon, the primary 289 00:15:31,880 --> 00:15:34,760 Speaker 1: monket So I don't know if you know, you know, 290 00:15:34,880 --> 00:15:37,600 Speaker 1: takeet a sizeable number of people from that one particular facility, 291 00:15:37,800 --> 00:15:41,440 Speaker 1: it's gonna inflict much pain on Amazon. If workers really 292 00:15:41,480 --> 00:15:44,480 Speaker 1: want to inflict pain on Amazon to get their attention, 293 00:15:44,760 --> 00:15:49,280 Speaker 1: they're really gonna need a big movement or a concentrated 294 00:15:49,560 --> 00:15:53,680 Speaker 1: geographic movement that that expands beyond this one facility. Because 295 00:15:53,720 --> 00:15:58,080 Speaker 1: it Amazon's resilient enough to handle even a big strip 296 00:15:58,160 --> 00:16:00,480 Speaker 1: and one facility, It's gonna have to deel really big 297 00:16:00,480 --> 00:16:04,720 Speaker 1: work for for Amazon to ticket seriously enough to pay attention. 298 00:16:04,840 --> 00:16:06,880 Speaker 1: Now fascinating as you sit there in Seattle, and we 299 00:16:06,920 --> 00:16:10,720 Speaker 1: see Starbucks staffing beginning a three day sixty store strike 300 00:16:10,760 --> 00:16:13,480 Speaker 1: as well, So so something we keep on talking about. 301 00:16:13,280 --> 00:16:16,160 Speaker 1: Spencer Soper, great to catch up with you, Happy weekend. 302 00:16:16,440 --> 00:16:19,560 Speaker 1: Thank you. Meanwhile, coming up, Bloomberg Business Week's list of 303 00:16:19,600 --> 00:16:23,120 Speaker 1: fifty most Impactful People in Business is out this week. 304 00:16:23,280 --> 00:16:25,400 Speaker 1: We're gonna speak to one of them, Tom Oxley, CEO 305 00:16:25,960 --> 00:16:29,280 Speaker 1: synchron who made this year's list with the company's brain 306 00:16:29,360 --> 00:16:33,560 Speaker 1: computer interfaces, its back by Bezos's backed by Gates. Will 307 00:16:33,600 --> 00:16:50,280 Speaker 1: tell you why this is Blomberg. Bloomberg is out this 308 00:16:50,360 --> 00:16:53,280 Speaker 1: week with our sixth annual Bloomberg fifty. It's a look 309 00:16:53,280 --> 00:16:56,400 Speaker 1: at people across finance technology. You name the industry that 310 00:16:56,520 --> 00:17:00,200 Speaker 1: have defined global business in two one name that's out 311 00:17:00,200 --> 00:17:02,800 Speaker 1: to us, and the list was Tom Oxley, CEO of synchron, 312 00:17:03,160 --> 00:17:05,880 Speaker 1: which just completed a seventy five million dollar funning round 313 00:17:05,920 --> 00:17:08,840 Speaker 1: because the company is backed already now by basils by 314 00:17:08,880 --> 00:17:13,359 Speaker 1: Gates creates brain computer interfaces known as bc ies that 315 00:17:13,440 --> 00:17:16,760 Speaker 1: can interpret, can stimulate parts of the brain, and as 316 00:17:16,760 --> 00:17:20,040 Speaker 1: seen as possible treatment for brain injuries. Tom joins us 317 00:17:20,040 --> 00:17:23,000 Speaker 1: now and if anything is at the cumming end of technology, 318 00:17:23,080 --> 00:17:25,600 Speaker 1: you are brain computer interfaces, the way in which you 319 00:17:25,640 --> 00:17:29,440 Speaker 1: can treat debilitating illness, the way you can transmit thoughts 320 00:17:29,440 --> 00:17:34,040 Speaker 1: sort of wirelessly to digital devices. Tom talk to us 321 00:17:34,040 --> 00:17:37,119 Speaker 1: about if you can basically how this works. Technology has 322 00:17:37,160 --> 00:17:40,960 Speaker 1: been around for twenty years. The challenge for commercialization has 323 00:17:41,000 --> 00:17:44,960 Speaker 1: been to make it fully implanted and safe. And our 324 00:17:45,320 --> 00:17:47,080 Speaker 1: what we do is we figured out how to put 325 00:17:47,119 --> 00:17:51,359 Speaker 1: the devices inside blood vessels inside the brain. It detects 326 00:17:51,560 --> 00:17:53,600 Speaker 1: from the part of the brain that controls the movement 327 00:17:53,600 --> 00:17:56,320 Speaker 1: in the body. We digitize that signal, bring it out 328 00:17:56,320 --> 00:17:59,760 Speaker 1: of the body, and then we use it to control 329 00:18:00,000 --> 00:18:02,800 Speaker 1: computers so that patients who are paralyzed can restore their 330 00:18:02,840 --> 00:18:06,440 Speaker 1: ability to engage with their world through a digital ecosystem, 331 00:18:06,480 --> 00:18:09,080 Speaker 1: which which you and I take for granted. Yeah, suddenly 332 00:18:09,119 --> 00:18:13,720 Speaker 1: being able to share SMS is what'sapp messages, were able 333 00:18:13,760 --> 00:18:17,000 Speaker 1: to order food online? Do your bills or credit cards 334 00:18:17,040 --> 00:18:19,240 Speaker 1: as extraordinary? What they can be used for? The way 335 00:18:19,280 --> 00:18:21,920 Speaker 1: in which you talk to investors. Of course, having those 336 00:18:21,920 --> 00:18:25,320 Speaker 1: conversations with Jeff Bezos, with with Koesler, of course, you 337 00:18:25,440 --> 00:18:27,960 Speaker 1: know Cosler one of your first backers. What is it 338 00:18:28,000 --> 00:18:30,199 Speaker 1: about time frames? What is it about pacing that you 339 00:18:30,240 --> 00:18:34,879 Speaker 1: talk to them about? A Class three medical device is 340 00:18:34,920 --> 00:18:39,120 Speaker 1: a very long journey, So the time frame is long. 341 00:18:39,160 --> 00:18:41,160 Speaker 1: But we've been at this for ten years. Actually, we've 342 00:18:41,200 --> 00:18:43,919 Speaker 1: been in discussions with FDA to get this clearance for 343 00:18:43,960 --> 00:18:46,960 Speaker 1: the study that's happening in the US currently, we just 344 00:18:47,880 --> 00:18:51,160 Speaker 1: a third enrollment happened with the implant happening this week 345 00:18:51,200 --> 00:18:54,159 Speaker 1: at u p MC in Pittsburgh. So we're moving along, 346 00:18:54,200 --> 00:18:56,480 Speaker 1: but we've still got several years to go. The next 347 00:18:56,520 --> 00:19:00,040 Speaker 1: step to the serious C financing is to launch a 348 00:19:00,160 --> 00:19:03,160 Speaker 1: pivotal study that will take us one step closer towards 349 00:19:03,200 --> 00:19:08,120 Speaker 1: commercial lodge the people, the impact the market sort of 350 00:19:08,200 --> 00:19:12,880 Speaker 1: how many could this help? Tom, Paralysis is a very 351 00:19:12,960 --> 00:19:15,359 Speaker 1: large problem when you think about it, not as a 352 00:19:15,400 --> 00:19:19,240 Speaker 1: particular disease state, whether it's stroke or spinal cord injury 353 00:19:19,320 --> 00:19:23,840 Speaker 1: or als or multiple sclerosis. Many ailments or injuries can 354 00:19:23,880 --> 00:19:28,560 Speaker 1: impact the body's ability to control the muscles in your body. 355 00:19:28,640 --> 00:19:31,840 Speaker 1: So we actually think there's a hundred million people worldwide 356 00:19:31,840 --> 00:19:34,840 Speaker 1: who have lost the ability to use their hands to 357 00:19:34,920 --> 00:19:38,360 Speaker 1: control digital devices like you or I do. But where 358 00:19:38,359 --> 00:19:40,480 Speaker 1: we're starting as the most severe end of that spectrum, 359 00:19:40,520 --> 00:19:43,560 Speaker 1: for people who are unable to engage at all the 360 00:19:43,600 --> 00:19:46,920 Speaker 1: digital systems and complete completely depend on a loved one 361 00:19:46,960 --> 00:19:50,280 Speaker 1: or a caregiver for their for their daily needs. We're 362 00:19:50,280 --> 00:19:52,159 Speaker 1: looking at footage now of just in the way in 363 00:19:52,200 --> 00:19:56,720 Speaker 1: which this can potentially be revolutionary for people who have 364 00:19:56,800 --> 00:20:00,000 Speaker 1: lost the ability to communicate in that way. Tom, You're there. 365 00:20:00,040 --> 00:20:02,800 Speaker 1: Brooklyn talked to us about at the moment it's regulation 366 00:20:02,880 --> 00:20:04,680 Speaker 1: and a moment it's making sure that you're getting the 367 00:20:04,800 --> 00:20:07,520 Speaker 1: right test results and showing that you're hitting all those 368 00:20:07,520 --> 00:20:10,760 Speaker 1: sorts of hurdles, But what about talent, what about where 369 00:20:10,800 --> 00:20:12,720 Speaker 1: you grow this business? How have you been able to 370 00:20:12,720 --> 00:20:17,879 Speaker 1: do that. We are excited we're going to set up 371 00:20:17,880 --> 00:20:20,240 Speaker 1: in the Bay Area, and we made a decision to 372 00:20:20,320 --> 00:20:22,600 Speaker 1: stay in New York primary. We're setting up here in 373 00:20:22,600 --> 00:20:26,639 Speaker 1: the Brooklyn Navy Yard. We've grown to fifty people, and 374 00:20:26,920 --> 00:20:29,000 Speaker 1: we the people coming into the company, share a lot 375 00:20:29,080 --> 00:20:32,080 Speaker 1: of New York City, so we've got a really interesting 376 00:20:32,280 --> 00:20:34,920 Speaker 1: mixed here and very passionate and talented people that are 377 00:20:35,359 --> 00:20:37,480 Speaker 1: really loving being inside New York City. A lot of 378 00:20:37,480 --> 00:20:41,280 Speaker 1: our investors here. Our chief medical opposite, Ja Moco at 379 00:20:41,280 --> 00:20:44,840 Speaker 1: Mount Sinai is here locally. We have a Dave Petrino 380 00:20:44,920 --> 00:20:49,600 Speaker 1: who's running the Mount Sinai, the Mount Sinai Study, So 381 00:20:49,840 --> 00:20:52,240 Speaker 1: we were We think New York is a great place 382 00:20:52,320 --> 00:20:55,159 Speaker 1: to be doing medical device innovation. Great to have some 383 00:20:55,200 --> 00:20:57,879 Speaker 1: time with the Tom Oxley congratulations, it's wonderful to have 384 00:20:57,920 --> 00:20:59,800 Speaker 1: you on the s S chron Of course, be sure 385 00:20:59,840 --> 00:21:02,960 Speaker 1: that's check out this week's issue a Business Week and 386 00:21:03,200 --> 00:21:05,000 Speaker 1: you'll get all the deep dive on some of these 387 00:21:05,000 --> 00:21:15,919 Speaker 1: incredible entrepreneurs. Welcome back to britte Bag Technology. I'm Caroline 388 00:21:15,960 --> 00:21:18,280 Speaker 1: Hide in New York and joining us to well deep 389 00:21:18,320 --> 00:21:20,840 Speaker 1: dive once again into the world the extraordinary day, this 390 00:21:20,920 --> 00:21:24,040 Speaker 1: extraordinary six weeks around Twitter. This time, of course, we're 391 00:21:24,040 --> 00:21:26,679 Speaker 1: going to discuss the banning of accounts of certain journalists. 392 00:21:27,200 --> 00:21:30,119 Speaker 1: Great voice Jason Goldman, one of the founding members of Twitter, 393 00:21:30,200 --> 00:21:32,840 Speaker 1: former White House Chief Digital Officer under President of Barmber. 394 00:21:32,880 --> 00:21:35,680 Speaker 1: Of course you've got an insider outside of perspective here 395 00:21:35,760 --> 00:21:39,560 Speaker 1: and Jason first and foremost. When we think about whether 396 00:21:39,880 --> 00:21:42,919 Speaker 1: Elon Musk at the moment, many would say yes, we 397 00:21:42,960 --> 00:21:44,679 Speaker 1: don't always like the way in which he acts and 398 00:21:44,720 --> 00:21:48,360 Speaker 1: gets there, but you can't. You can't back against him. 399 00:21:48,440 --> 00:21:51,080 Speaker 1: He always gets things done, the success he has with Tessa, 400 00:21:51,119 --> 00:21:53,440 Speaker 1: that success he has with SpaceX. But at the moment, 401 00:21:53,520 --> 00:21:56,320 Speaker 1: is he acting from your perspective like a rational business 402 00:21:56,440 --> 00:22:00,320 Speaker 1: leader or erratically in some way? No. I think he's 403 00:22:00,359 --> 00:22:04,840 Speaker 1: acting very erratically and motivated based on his own political 404 00:22:04,880 --> 00:22:07,720 Speaker 1: preferences and the issues that activate him the most. This 405 00:22:07,960 --> 00:22:11,280 Speaker 1: ban that occurred last night for a variety of journalists 406 00:22:11,320 --> 00:22:13,760 Speaker 1: was motivated by a fear that he had for his family, 407 00:22:13,800 --> 00:22:16,200 Speaker 1: and no one can no one can doubt a fear 408 00:22:16,200 --> 00:22:18,600 Speaker 1: that a person has for their family. But in fact 409 00:22:18,600 --> 00:22:22,520 Speaker 1: it seems fairly unconnected with the Twitter account that was 410 00:22:22,560 --> 00:22:24,760 Speaker 1: tracking his jet movements. You know, there was no post 411 00:22:24,800 --> 00:22:28,359 Speaker 1: from that account on Tuesday night. This paparazzi incident he happened, 412 00:22:28,600 --> 00:22:31,280 Speaker 1: happened on Tuesday night away from an airport, and yet 413 00:22:31,280 --> 00:22:35,000 Speaker 1: he somehow decided to blame this jet tracking service. But 414 00:22:35,080 --> 00:22:38,200 Speaker 1: not only that, he banned journalists for even just linking 415 00:22:38,320 --> 00:22:42,000 Speaker 1: to the account of that journal of of that of 416 00:22:42,080 --> 00:22:44,840 Speaker 1: that plane tracker. He would have been much better off 417 00:22:44,920 --> 00:22:48,000 Speaker 1: just saying anything that talks about my family is off 418 00:22:48,080 --> 00:22:51,320 Speaker 1: limits on this service that I now own. But instead 419 00:22:51,320 --> 00:22:55,399 Speaker 1: he's trying to formulate this very convoluted, pretextual policy and 420 00:22:55,520 --> 00:22:58,600 Speaker 1: presenting it as a protection against doxing. And it simply 421 00:22:58,640 --> 00:23:01,359 Speaker 1: doesn't work because it's really about his own personal fears 422 00:23:01,359 --> 00:23:05,200 Speaker 1: and motivations. Jason. What's interesting, and I suppose what many 423 00:23:05,320 --> 00:23:08,480 Speaker 1: have been uphended by, is the idea that he bought 424 00:23:08,520 --> 00:23:13,040 Speaker 1: Twitter because he's a freedom of speech absolutist, as the 425 00:23:13,040 --> 00:23:15,359 Speaker 1: way he sort of turned it at the time. And 426 00:23:15,440 --> 00:23:17,919 Speaker 1: now these sorts of movements don't seem to work in 427 00:23:17,960 --> 00:23:20,400 Speaker 1: that But what's interesting is the way perhaps he brought 428 00:23:20,400 --> 00:23:26,000 Speaker 1: back previously banned accounts like one Donald Trump was. He 429 00:23:26,040 --> 00:23:28,320 Speaker 1: went on a Twitter poll and he asked the audience, 430 00:23:28,359 --> 00:23:30,200 Speaker 1: and he's done it again. We understand, of course he's 431 00:23:30,200 --> 00:23:32,320 Speaker 1: gone and said, look, should I be actually banning these 432 00:23:32,520 --> 00:23:36,760 Speaker 1: journalists for should I unbanned them immediately? Shall I leave 433 00:23:36,760 --> 00:23:39,840 Speaker 1: it for seven days? The poll seems to say that, well, 434 00:23:39,960 --> 00:23:42,600 Speaker 1: he should lift the band. Do you think he'll stick 435 00:23:42,640 --> 00:23:44,560 Speaker 1: to that at the moment, Jason, do you think he'll 436 00:23:44,640 --> 00:23:48,440 Speaker 1: use that again because he followed the pole previously. He'll 437 00:23:48,480 --> 00:23:50,720 Speaker 1: he'll unband the journalist, not because of the poll, but 438 00:23:50,800 --> 00:23:53,639 Speaker 1: because he's he realizes that he's messed up in this situation. 439 00:23:53,680 --> 00:23:56,440 Speaker 1: He realizes that this was a bridge too far, and 440 00:23:56,520 --> 00:23:58,560 Speaker 1: that he's he's now going to try to make an 441 00:23:58,560 --> 00:24:00,919 Speaker 1: attempt like see, you have to file rules, but the 442 00:24:00,960 --> 00:24:03,399 Speaker 1: outcry over it is simply going to be too much, 443 00:24:03,480 --> 00:24:06,359 Speaker 1: and he's going to unban these journalists because he doesn't 444 00:24:06,359 --> 00:24:08,160 Speaker 1: want to have to deal with this. He doesn't want 445 00:24:08,160 --> 00:24:09,920 Speaker 1: to have to deal with this untenable issue. And it's 446 00:24:09,920 --> 00:24:12,960 Speaker 1: true that he did present himself as a free speech absolutist, 447 00:24:12,960 --> 00:24:15,600 Speaker 1: but I think Anyone with a fair reading of the facts, 448 00:24:15,640 --> 00:24:18,000 Speaker 1: even from back in April, would have seen that this 449 00:24:18,119 --> 00:24:22,200 Speaker 1: was just pretext for him advancing very specific political views. 450 00:24:22,240 --> 00:24:25,080 Speaker 1: He's now going on to endorse a Republican ticket. He 451 00:24:25,280 --> 00:24:28,080 Speaker 1: is very specific about the woke mind virus that is 452 00:24:28,119 --> 00:24:31,040 Speaker 1: destroying the United States. And he's been silent on other 453 00:24:31,160 --> 00:24:34,359 Speaker 1: important free speech issues, such as Chinese dissidents who use 454 00:24:34,480 --> 00:24:38,240 Speaker 1: Twitter outside of China to coordinate protests, and the protests 455 00:24:38,240 --> 00:24:41,240 Speaker 1: in Iran uh that are are are are being done 456 00:24:41,400 --> 00:24:44,040 Speaker 1: to help advance pro democracy movements. You know, Twitter has 457 00:24:44,080 --> 00:24:47,880 Speaker 1: been a tool of free speech and for democracy advocates 458 00:24:47,880 --> 00:24:50,439 Speaker 1: since before Elon Musk has had an account, And he 459 00:24:50,480 --> 00:24:53,000 Speaker 1: doesn't care about those issues because he's not really motivated 460 00:24:53,000 --> 00:24:55,680 Speaker 1: by free speech. He's motivated by what serves his own 461 00:24:55,720 --> 00:24:59,280 Speaker 1: parochial interests. It was interesting we asked our own audience 462 00:24:59,359 --> 00:25:03,000 Speaker 1: for our own app technology handle on Twitter about whether 463 00:25:03,040 --> 00:25:07,160 Speaker 1: they think ultimately the end goal of freedom of speech 464 00:25:07,320 --> 00:25:09,679 Speaker 1: is being achieved by long Musk right now, and at 465 00:25:09,680 --> 00:25:12,560 Speaker 1: the moment they don't think it is. Jason and I'm 466 00:25:12,600 --> 00:25:16,080 Speaker 1: interested interested is to whether in the longer term we 467 00:25:16,119 --> 00:25:19,359 Speaker 1: will see that eventually occur, or will we see people 468 00:25:19,359 --> 00:25:21,679 Speaker 1: push to other social media platforms. What's so interesting, and 469 00:25:21,720 --> 00:25:24,440 Speaker 1: you referenced it yourself, is that a rival master Don 470 00:25:24,800 --> 00:25:27,680 Speaker 1: seems to be having all of its links basically banned. 471 00:25:27,720 --> 00:25:31,720 Speaker 1: Its own profile was banned because it linked to Elon jets, 472 00:25:31,720 --> 00:25:35,080 Speaker 1: but now anything that people are linking to in terms 473 00:25:35,080 --> 00:25:38,000 Speaker 1: of social media put on that rival social media platform 474 00:25:38,040 --> 00:25:40,080 Speaker 1: seems to not be getting through either. What do you 475 00:25:40,080 --> 00:25:43,560 Speaker 1: make of that? The competition focus too, that's right, and 476 00:25:43,800 --> 00:25:46,240 Speaker 1: I think my my prediction for Twitter has long been 477 00:25:46,280 --> 00:25:47,960 Speaker 1: that it's not going to die overnight, but that it 478 00:25:48,000 --> 00:25:50,640 Speaker 1: will become more broken and more stupid. And I think 479 00:25:50,640 --> 00:25:53,119 Speaker 1: that's what we're seeing play out, and that as a result, 480 00:25:53,160 --> 00:25:55,480 Speaker 1: people will find other places that they want to hang out. 481 00:25:55,480 --> 00:25:58,399 Speaker 1: Whether those are public places like massdon are private places 482 00:25:58,440 --> 00:26:00,760 Speaker 1: like Discord. They're simply not going to want to be 483 00:26:00,840 --> 00:26:03,000 Speaker 1: on a service where the main character every day is 484 00:26:03,040 --> 00:26:06,280 Speaker 1: Elon Musk and it's simply tracking you know, what new 485 00:26:06,320 --> 00:26:09,400 Speaker 1: shenanigans that he's gotten up to and what policies he's 486 00:26:09,440 --> 00:26:12,040 Speaker 1: decided to invent out of peak and anger. You know, 487 00:26:12,200 --> 00:26:13,840 Speaker 1: one thing I would say, one thing I would say 488 00:26:13,880 --> 00:26:16,399 Speaker 1: to Ellen about this and his and the and the 489 00:26:16,520 --> 00:26:18,919 Speaker 1: very real moves that he's making to drive users to 490 00:26:18,960 --> 00:26:21,920 Speaker 1: other platforms because of the anger and peak that he's 491 00:26:21,920 --> 00:26:24,399 Speaker 1: pursuing these new policies with is. I know Ellen is 492 00:26:24,440 --> 00:26:26,840 Speaker 1: a big fan of Frank Herbert's Done. It's a book 493 00:26:26,840 --> 00:26:30,119 Speaker 1: that he's quoted, actually misquoted on his tweets before, and 494 00:26:30,160 --> 00:26:32,760 Speaker 1: I'm a fan of Frank Herbert's done as well. A 495 00:26:32,840 --> 00:26:34,879 Speaker 1: proper quote from doing that I would encourage him to 496 00:26:34,920 --> 00:26:37,320 Speaker 1: reflect on is a stone is heavy and the sand 497 00:26:37,440 --> 00:26:40,240 Speaker 1: is weighty, but a fool's wrath is heavier than them both. 498 00:26:40,440 --> 00:26:42,680 Speaker 1: And what we're really seeing of with users going to 499 00:26:42,800 --> 00:26:46,600 Speaker 1: these other platforms is the result of a fool's wrath. Well, 500 00:26:46,640 --> 00:26:51,240 Speaker 1: it's interesting, is as I said before, people's belief in 501 00:26:51,320 --> 00:26:54,320 Speaker 1: Elon Musk And we've spoken to vcs who are still 502 00:26:54,400 --> 00:26:56,840 Speaker 1: very much supportive of the SpaceX fundraise that's going on 503 00:26:56,880 --> 00:26:59,000 Speaker 1: at the moment. For example, they don't feel that they 504 00:26:59,000 --> 00:27:01,280 Speaker 1: can bet against him as a leader, even if you say, 505 00:27:01,280 --> 00:27:07,520 Speaker 1: perhaps he's letting foolish mindset perhaps pervade his overall actions 506 00:27:07,520 --> 00:27:10,200 Speaker 1: at the moment. Twitter currently we understand this reports outher 507 00:27:10,240 --> 00:27:12,240 Speaker 1: that it's raising funds at the moment. Once again at 508 00:27:12,320 --> 00:27:16,280 Speaker 1: fifty four twenty price is do we think people are 509 00:27:16,280 --> 00:27:19,080 Speaker 1: going to be interested in this investment. I think it 510 00:27:19,119 --> 00:27:21,880 Speaker 1: will get filled. I'm sure there's Elon fanboys out there 511 00:27:21,880 --> 00:27:23,680 Speaker 1: in the in the tech world who will be happy 512 00:27:23,680 --> 00:27:26,000 Speaker 1: to be in business with them for the reasons you say. 513 00:27:26,040 --> 00:27:28,240 Speaker 1: Maybe it allows them to get friends and family in 514 00:27:28,280 --> 00:27:30,040 Speaker 1: the space x I p O. Or they just want 515 00:27:30,040 --> 00:27:32,919 Speaker 1: to be involved with Ellen long term. I'm sure the 516 00:27:32,920 --> 00:27:35,040 Speaker 1: space x I p O will work out, will work 517 00:27:35,040 --> 00:27:37,960 Speaker 1: out well. Uh And you know, even though Tesla is 518 00:27:38,040 --> 00:27:41,560 Speaker 1: down over on the year to date, you know, maybe 519 00:27:41,640 --> 00:27:44,080 Speaker 1: there's maybe there's a case for Tesla longs as well. 520 00:27:44,160 --> 00:27:46,840 Speaker 1: The differences is that Twitter and the moves that he's 521 00:27:46,880 --> 00:27:49,840 Speaker 1: making with Twitter are just destroying brand value. Twitter has 522 00:27:49,880 --> 00:27:54,159 Speaker 1: always had an excess of brand value beyond its business value. 523 00:27:54,200 --> 00:27:57,280 Speaker 1: It's always succeeded because it attracted the important real time 524 00:27:57,280 --> 00:28:01,320 Speaker 1: conversations among journalist, media personality, celebrit Reeason, so on. And 525 00:28:01,400 --> 00:28:04,600 Speaker 1: he is actively driving away those use cases. Even before 526 00:28:04,680 --> 00:28:07,120 Speaker 1: these bands, he's doing that, but now with the moves 527 00:28:07,119 --> 00:28:09,439 Speaker 1: that he's making the last twenty four hours, he's showing 528 00:28:09,480 --> 00:28:12,439 Speaker 1: that it's just simply not a place for those conversations. 529 00:28:12,440 --> 00:28:15,800 Speaker 1: That he had. Additionally, you know, Ellen purportedly someone who's 530 00:28:15,800 --> 00:28:18,480 Speaker 1: concerned about safety and his own family safety. I'm sure 531 00:28:18,480 --> 00:28:20,720 Speaker 1: he is concerned about his own family safety, but we 532 00:28:20,800 --> 00:28:22,840 Speaker 1: have to remember that he also, in the course of 533 00:28:22,840 --> 00:28:25,240 Speaker 1: putting out the Twitter files, has endangered the lives of 534 00:28:25,280 --> 00:28:27,000 Speaker 1: employees who used to work for the company. You know, 535 00:28:27,080 --> 00:28:29,880 Speaker 1: Trust and Safety had. Yoel Roth had to flee his home, 536 00:28:29,920 --> 00:28:34,320 Speaker 1: reportedly because Ellen helped propagate a false story that Ellen 537 00:28:34,560 --> 00:28:37,800 Speaker 1: that Yoel was soft on child sexual abuse material. I mean, 538 00:28:37,880 --> 00:28:40,760 Speaker 1: that's deeply irresponsible coming from the CEO of a social 539 00:28:40,800 --> 00:28:43,080 Speaker 1: media company, and I think it should give anyone pause 540 00:28:43,440 --> 00:28:47,400 Speaker 1: about the future of Twitter's trajectory. Jason Goldman, former Twitter 541 00:28:47,440 --> 00:28:50,360 Speaker 1: founding team, memorables former White House Chief Digital Officer, and 542 00:28:50,440 --> 00:28:53,600 Speaker 1: the President Obama. Thank you have a wonderful weekend and 543 00:28:54,080 --> 00:28:57,479 Speaker 1: interesting that Jason was there talking about brand value of Twitter, 544 00:28:57,600 --> 00:29:00,920 Speaker 1: but also brands with value of what ago and advertise 545 00:29:00,960 --> 00:29:03,000 Speaker 1: on Twitter. What does that look like in the future. 546 00:29:03,640 --> 00:29:06,880 Speaker 1: It's already been perhaps questioned at the moment, already been 547 00:29:06,880 --> 00:29:10,240 Speaker 1: dealing with some major brands dropping off the social media platform. 548 00:29:10,360 --> 00:29:12,400 Speaker 1: What are the other opportunities for them? And pleased to 549 00:29:12,440 --> 00:29:14,840 Speaker 1: say that Nick Buzzle, CEO and chairman of the content 550 00:29:14,840 --> 00:29:17,160 Speaker 1: production company and VTV is here in the studio in 551 00:29:17,160 --> 00:29:18,560 Speaker 1: New York. Great to have some time in the next 552 00:29:18,640 --> 00:29:21,360 Speaker 1: Thank you for having me. You're a man who has 553 00:29:21,440 --> 00:29:25,760 Speaker 1: expertise within the digital media space, within director consumer but 554 00:29:25,840 --> 00:29:29,480 Speaker 1: also in previous life operations of Big Fuel, which is 555 00:29:29,520 --> 00:29:33,040 Speaker 1: a social media sort of first digital company. And I'm 556 00:29:33,080 --> 00:29:35,680 Speaker 1: interested in what you think of Twitter at the moment 557 00:29:35,720 --> 00:29:38,000 Speaker 1: and what companies you speak to are looking for advertising 558 00:29:38,000 --> 00:29:40,640 Speaker 1: opportunities are thinking about it. Well, thanks for having me, 559 00:29:40,640 --> 00:29:43,160 Speaker 1: And you know, I think brand safety is really important. 560 00:29:43,240 --> 00:29:46,320 Speaker 1: A lot of brands are concerned about the volatility of 561 00:29:46,360 --> 00:29:49,440 Speaker 1: platforms like Twitter. I know that YouTube has had challenges 562 00:29:49,480 --> 00:29:51,640 Speaker 1: in the past, and brands, I think are looking for 563 00:29:51,680 --> 00:29:53,760 Speaker 1: a safe place to tell their stories and connect with 564 00:29:53,800 --> 00:29:57,320 Speaker 1: their consumers and with the corporate responsibility of being a 565 00:29:57,360 --> 00:30:00,080 Speaker 1: good brand and not getting caught up in all of 566 00:30:00,080 --> 00:30:01,840 Speaker 1: the antics that seemed to be going on over there. 567 00:30:02,040 --> 00:30:05,160 Speaker 1: It's a it's a wild ride for sure. Talk to 568 00:30:05,240 --> 00:30:08,400 Speaker 1: us when when we're thinking about how a brand wants 569 00:30:08,400 --> 00:30:10,760 Speaker 1: to interact with a consumer right now, and you're doing 570 00:30:11,200 --> 00:30:13,920 Speaker 1: things with MBTV, Spirits network is and of course newly 571 00:30:13,960 --> 00:30:17,520 Speaker 1: launched Gulf Nation is what you're currently bringing the content 572 00:30:17,600 --> 00:30:21,920 Speaker 1: and also the opportunity to directly come to me who's viewing, 573 00:30:22,080 --> 00:30:24,760 Speaker 1: and I can buy something that I like very seamlessly 574 00:30:24,800 --> 00:30:29,800 Speaker 1: within within the content creation experience. How would people reacting 575 00:30:29,840 --> 00:30:31,640 Speaker 1: to that in this environment? How are they seeing that 576 00:30:31,680 --> 00:30:34,120 Speaker 1: as a more trust in space. It's been really effective. 577 00:30:34,120 --> 00:30:36,360 Speaker 1: I mean, we're not a social media network, so we're 578 00:30:36,480 --> 00:30:39,880 Speaker 1: closed network and we tightly control our programming and content. 579 00:30:39,960 --> 00:30:43,600 Speaker 1: We've been called Netflix meets QVC, so we're creating a 580 00:30:43,600 --> 00:30:46,600 Speaker 1: lot of premium original content we're free to watch. You 581 00:30:46,640 --> 00:30:49,120 Speaker 1: can go to Spirits Network dot com or Gulf Nation 582 00:30:49,160 --> 00:30:52,720 Speaker 1: dot com. Both of those channels operate very similarly, where 583 00:30:52,720 --> 00:30:55,520 Speaker 1: consumers can watch and purchase what they see and have 584 00:30:55,600 --> 00:30:58,640 Speaker 1: it delivered directly to their home. The response has been 585 00:30:58,680 --> 00:31:01,000 Speaker 1: really great. Spirits Network, who has been around for the 586 00:31:01,080 --> 00:31:03,800 Speaker 1: last three years, we've had tremendous amount of success working 587 00:31:03,800 --> 00:31:07,400 Speaker 1: with large global brands, specifically beverage alcohol, and then we 588 00:31:07,480 --> 00:31:09,400 Speaker 1: also saw that a lot of our data set the 589 00:31:09,440 --> 00:31:12,440 Speaker 1: consumers inside of Spirits that collected golf, so we decided 590 00:31:12,480 --> 00:31:14,400 Speaker 1: to take advantage of it and launch Golf Nation with 591 00:31:14,440 --> 00:31:18,720 Speaker 1: the same idea. Of lifestyle programming with consumer shopping, and 592 00:31:18,760 --> 00:31:21,720 Speaker 1: I think consumers are tired of interruptive ads and commercials 593 00:31:21,920 --> 00:31:24,240 Speaker 1: and they're looking for an alternative way to really connect 594 00:31:24,560 --> 00:31:27,880 Speaker 1: um and big media, especially streaming media, is struggling right 595 00:31:27,880 --> 00:31:30,360 Speaker 1: now with figuring out new business models and trying to 596 00:31:30,360 --> 00:31:32,479 Speaker 1: connect with consumers where they spend their time. Well, it's 597 00:31:32,520 --> 00:31:35,880 Speaker 1: interesting you say struggling. Netflix actually had pretty poor week 598 00:31:35,880 --> 00:31:37,400 Speaker 1: in terms of its share price. It fell a lot 599 00:31:37,520 --> 00:31:41,240 Speaker 1: yesterday because it's new advertising tier. There were reports that 600 00:31:41,560 --> 00:31:44,360 Speaker 1: it wasn't landing and quite the way they expected it 601 00:31:44,400 --> 00:31:47,440 Speaker 1: to Talk to us about just at the moment, whether 602 00:31:47,480 --> 00:31:51,280 Speaker 1: advertisers are willing to spend in this macro environment in Spirit, networking, 603 00:31:51,280 --> 00:31:54,120 Speaker 1: golf Nation. Are they wanting to commit money to marketing? Well, 604 00:31:54,160 --> 00:31:56,400 Speaker 1: the beauty of our offering is that we can actually 605 00:31:56,440 --> 00:32:00,280 Speaker 1: show attribution from views and impressions and eyeballs to ails. 606 00:32:00,600 --> 00:32:03,360 Speaker 1: I think consumers are looking for a better experience. I 607 00:32:03,400 --> 00:32:06,000 Speaker 1: don't think TV is broken. I think the consumer experience 608 00:32:06,040 --> 00:32:09,120 Speaker 1: with TV is broken. Advertisers are looking for a way 609 00:32:09,120 --> 00:32:11,280 Speaker 1: to reach consumers where they're spending their time. So we're 610 00:32:11,320 --> 00:32:13,880 Speaker 1: spending a lot of our time on CTV as well, 611 00:32:13,880 --> 00:32:16,800 Speaker 1: as mobile, so the connected TV universe, and we're finding 612 00:32:16,840 --> 00:32:19,160 Speaker 1: that that's an opportunity for advertisers to get in front 613 00:32:19,160 --> 00:32:22,240 Speaker 1: of consumers. The Netflix news recently was not only about 614 00:32:22,280 --> 00:32:24,920 Speaker 1: some challenges they were having with over uh in terms 615 00:32:24,920 --> 00:32:27,400 Speaker 1: of reaching audience, but it was more about supply. There 616 00:32:27,440 --> 00:32:30,240 Speaker 1: seems to be a challenge with inventory and the connected 617 00:32:30,280 --> 00:32:33,360 Speaker 1: TV market, and so by creating more content, you're essentially 618 00:32:33,360 --> 00:32:36,920 Speaker 1: creating more, more inventory, more supply. Consumers are still watching 619 00:32:36,920 --> 00:32:39,040 Speaker 1: more content than ever, and I think even though there 620 00:32:39,080 --> 00:32:42,320 Speaker 1: might be some challenging economic times ahead, advertisers are taking 621 00:32:42,360 --> 00:32:45,800 Speaker 1: advantage of it to build brand equity also to become storytellers. 622 00:32:46,000 --> 00:32:48,360 Speaker 1: And now more than ever, advertisers have to separate their 623 00:32:48,360 --> 00:32:51,560 Speaker 1: products in the market. So advertising and down times is 624 00:32:51,640 --> 00:32:54,400 Speaker 1: often sometimes overblown, and I think people are still going 625 00:32:54,440 --> 00:32:56,160 Speaker 1: to spend money and I think, um, you know they 626 00:32:56,160 --> 00:32:58,240 Speaker 1: were going to do it more wisely. So advertisers half 627 00:32:58,240 --> 00:33:00,800 Speaker 1: the show as well as tell and we're doing it 628 00:33:00,840 --> 00:33:02,360 Speaker 1: with us. Of course. You can get it right in 629 00:33:02,360 --> 00:33:06,360 Speaker 1: your hands, Nick, Great some time with you, Thank you, Twitter, 630 00:33:06,480 --> 00:33:09,080 Speaker 1: the Spectrum on Netflix, We've got it all. Nick buzzil 631 00:33:09,120 --> 00:33:23,720 Speaker 1: Because CEO and Chairman of m B TV we're going 632 00:33:23,760 --> 00:33:26,520 Speaker 1: to talk about the embattled crypto firm Amber. It's actually 633 00:33:26,560 --> 00:33:29,080 Speaker 1: just raised three d million dollars and the company CEO 634 00:33:29,240 --> 00:33:32,440 Speaker 1: says that the new cash will be focused on customers 635 00:33:32,480 --> 00:33:34,920 Speaker 1: who actually lost money on the platform's products due to 636 00:33:35,080 --> 00:33:38,080 Speaker 1: fd x is implosion. Joining us to discuss the Bloomberg's 637 00:33:38,080 --> 00:33:40,320 Speaker 1: Hannah Miller, who wrote a great story with the CEO, 638 00:33:40,480 --> 00:33:44,520 Speaker 1: and it's interesting they originally were raising money to expand 639 00:33:44,560 --> 00:33:46,760 Speaker 1: at what was a three billion dollar valuation and then 640 00:33:46,760 --> 00:33:48,880 Speaker 1: suddenly had to pivot and raise money for a very 641 00:33:48,920 --> 00:33:53,000 Speaker 1: different reason. Yes, they put this one hundred million dollar 642 00:33:53,240 --> 00:33:55,640 Speaker 1: funding around on pars. They were raising that money in 643 00:33:55,760 --> 00:33:58,920 Speaker 1: multiple parts, but with the collapse of the ft X, 644 00:33:59,080 --> 00:34:01,760 Speaker 1: they had to switch gear years and they actually raised 645 00:34:01,760 --> 00:34:05,680 Speaker 1: three hundred million dollars to help their institutional and high 646 00:34:05,680 --> 00:34:08,920 Speaker 1: net worth clients who were affected by the collapse of 647 00:34:09,040 --> 00:34:11,120 Speaker 1: f t X. And this was raised at a lower 648 00:34:11,200 --> 00:34:16,239 Speaker 1: valuation than three billion dollars. What about the growth or 649 00:34:16,520 --> 00:34:18,960 Speaker 1: there in the company as well, because this was had 650 00:34:19,080 --> 00:34:22,640 Speaker 1: much coverage when they first launched. Ex Morgan Stanley Traders 651 00:34:22,719 --> 00:34:25,719 Speaker 1: coming up setting up helping the institutional world get into 652 00:34:25,719 --> 00:34:28,719 Speaker 1: the world of crypto and well I mean, they grew 653 00:34:28,800 --> 00:34:32,839 Speaker 1: very fast and now seems to be having a wine that. Yeah, 654 00:34:32,880 --> 00:34:35,919 Speaker 1: this company is going back to basics, that's how we're 655 00:34:35,920 --> 00:34:40,400 Speaker 1: looking at it. They have completely ended their services to 656 00:34:40,480 --> 00:34:44,400 Speaker 1: retail customers and they're only focusing on institutional clients and 657 00:34:44,480 --> 00:34:47,400 Speaker 1: high net worth individuals. So they're they're going back to 658 00:34:47,440 --> 00:34:51,000 Speaker 1: where they started. Uh. Their workforce at its peak was 659 00:34:51,120 --> 00:34:55,279 Speaker 1: eleven hundred people. That's now being trimmed down to over 660 00:34:55,360 --> 00:34:59,560 Speaker 1: three hundred. So that's a huge, huge step back. But 661 00:34:59,600 --> 00:35:03,040 Speaker 1: I guess unsupplising when volumes have come down so much 662 00:35:03,040 --> 00:35:04,640 Speaker 1: as well, did he give you any take on and 663 00:35:04,680 --> 00:35:06,560 Speaker 1: how the market is going to continue to evolve, what 664 00:35:06,640 --> 00:35:09,959 Speaker 1: sort of clients are going to be serving? Yes, So 665 00:35:10,200 --> 00:35:14,240 Speaker 1: their overall trading volumes have shrunk. Uh, they had about 666 00:35:14,280 --> 00:35:17,640 Speaker 1: ten percent of their trading capital trapped on ft X 667 00:35:17,719 --> 00:35:22,359 Speaker 1: when the exchange collapsed. Since that trading volume has decreased, Uh, 668 00:35:22,480 --> 00:35:25,120 Speaker 1: that percentage has increased of what they have on f 669 00:35:25,200 --> 00:35:30,280 Speaker 1: t X. So looking ahead, they're hoping that by refocusing 670 00:35:30,680 --> 00:35:34,560 Speaker 1: drilling down to you know, just work with institutional clients, 671 00:35:34,600 --> 00:35:37,239 Speaker 1: that they can have a leaner, more successful business. And 672 00:35:37,280 --> 00:35:39,279 Speaker 1: the CEO is adamant that they will be here in 673 00:35:40,400 --> 00:35:42,840 Speaker 1: does he think everyone will be here in? What about? 674 00:35:42,840 --> 00:35:44,719 Speaker 1: I mean we've only got a minute left, but contagions 675 00:35:44,719 --> 00:35:47,719 Speaker 1: still looking you can serve for him, Yes, I mean 676 00:35:47,760 --> 00:35:51,600 Speaker 1: contagion is a serious concern here. They are definitely a 677 00:35:51,680 --> 00:35:56,200 Speaker 1: firm in the crosshairs, especially after ending a high profile 678 00:35:56,200 --> 00:35:58,960 Speaker 1: sponsorship deal which l CFC. So there's a question of 679 00:35:58,960 --> 00:36:01,799 Speaker 1: whether they'll be pointing back on other deals, including with 680 00:36:02,080 --> 00:36:06,080 Speaker 1: Athletico Madrid. Um. So all eyes are on this company 681 00:36:06,160 --> 00:36:09,520 Speaker 1: in Asia. Their based in Singapore, so it will be 682 00:36:09,920 --> 00:36:12,440 Speaker 1: interesting to see what the year has had for them. 683 00:36:12,480 --> 00:36:14,880 Speaker 1: We seem to keep coming back to marketing and businesses 684 00:36:14,880 --> 00:36:19,280 Speaker 1: willingness or potential ability to invest in it at the moment, 685 00:36:19,440 --> 00:36:22,000 Speaker 1: Hannah Miller, we thank you so much all the world 686 00:36:22,040 --> 00:36:24,080 Speaker 1: of crypto their Meanwhile, coming up, as we head towards 687 00:36:24,280 --> 00:36:26,400 Speaker 1: the end of our final edition of Broombag Technology for 688 00:36:26,440 --> 00:36:29,560 Speaker 1: the year, that is, we're like ahead to the CEO 689 00:36:29,640 --> 00:36:32,319 Speaker 1: Solo Wins joins next to preview the trends that will 690 00:36:32,320 --> 00:36:59,239 Speaker 1: shape i T next year. That's the broom Bag. So 691 00:36:59,360 --> 00:37:02,160 Speaker 1: today it's the last edition of bloom Bag Technology for 692 00:37:02,200 --> 00:37:04,880 Speaker 1: the year, and so we're going to look ahead for 693 00:37:04,960 --> 00:37:07,480 Speaker 1: you Solo Winds is out with the top trends that 694 00:37:07,560 --> 00:37:09,960 Speaker 1: will be shaping the I T space next year. Pleased 695 00:37:10,000 --> 00:37:13,439 Speaker 1: to say that the CEO is with us, Sadaka Rama Krishna. 696 00:37:13,600 --> 00:37:15,080 Speaker 1: So it's great to have some time with you and 697 00:37:15,600 --> 00:37:18,359 Speaker 1: Daka talk to us about what you see in terms 698 00:37:18,400 --> 00:37:20,640 Speaker 1: of we're all worrying about macro headwinds. We're all worried 699 00:37:20,640 --> 00:37:22,960 Speaker 1: about companies not being able to spend on marketing as 700 00:37:23,000 --> 00:37:26,160 Speaker 1: much as they would. What about the internet infrastructure, what 701 00:37:26,200 --> 00:37:28,360 Speaker 1: about their technology? What about investment in R and D. 702 00:37:28,440 --> 00:37:30,320 Speaker 1: In that respect, you worried about the pulling back and 703 00:37:30,360 --> 00:37:34,000 Speaker 1: the brakes. Lare first of full Carolin, thank you for 704 00:37:34,080 --> 00:37:37,239 Speaker 1: having me here. I'm really happy and excited to be here. 705 00:37:38,000 --> 00:37:40,040 Speaker 1: It is true that we are in a very unique 706 00:37:40,160 --> 00:37:45,440 Speaker 1: macroeconomic environment, but this needs seem paradoxically. But the interesting 707 00:37:45,480 --> 00:37:50,680 Speaker 1: thing is the need for digital transformation and is actually accelerating. 708 00:37:51,080 --> 00:37:55,600 Speaker 1: So to that end, solutions that serve customers with timely 709 00:37:56,120 --> 00:38:00,520 Speaker 1: value are becoming even more relevant and critically in this environment. 710 00:38:00,880 --> 00:38:05,359 Speaker 1: I'll highlight to real trends and reasons for that. One 711 00:38:05,440 --> 00:38:09,279 Speaker 1: is the complexity of every customers environment is actually increasing 712 00:38:09,520 --> 00:38:13,799 Speaker 1: due to multi cloud hybrid solutions, hybrid work, remote work, 713 00:38:13,880 --> 00:38:16,880 Speaker 1: and so on. And two is the costs or the 714 00:38:16,960 --> 00:38:21,120 Speaker 1: budgets that they have commensurate to their complexity is not increasing, 715 00:38:21,280 --> 00:38:25,600 Speaker 1: so in that there is a unique opportunity for solution 716 00:38:25,640 --> 00:38:29,720 Speaker 1: suppliers to give the best time to value to customers 717 00:38:29,840 --> 00:38:35,240 Speaker 1: by delivering simple, effective solutions that enable them to manage 718 00:38:35,239 --> 00:38:38,600 Speaker 1: their environments more effectively because they don't have productive time 719 00:38:38,640 --> 00:38:42,040 Speaker 1: on their hands today. How do you then, in this 720 00:38:42,680 --> 00:38:45,239 Speaker 1: extraordinary environment we find ourselves and with a lot of 721 00:38:45,280 --> 00:38:48,480 Speaker 1: I'm sure competitors trying to woo those checks from the 722 00:38:48,520 --> 00:38:51,120 Speaker 1: similar clients you have, how do you set yourself about 723 00:38:51,160 --> 00:38:53,880 Speaker 1: what are the sort of key areas you focus on 724 00:38:53,920 --> 00:38:55,520 Speaker 1: that are going to make a CEO or leader or 725 00:38:55,560 --> 00:38:59,600 Speaker 1: a business that much life easier. Absolutely. First of all, 726 00:38:59,800 --> 00:39:04,320 Speaker 1: we have the pleasure of serving three hundred thousand customers 727 00:39:04,360 --> 00:39:07,080 Speaker 1: all over the world, so we have our healths to 728 00:39:07,160 --> 00:39:10,480 Speaker 1: the ground and understanding of their customer requirements and dynamics 729 00:39:10,480 --> 00:39:14,360 Speaker 1: on a daily basis. What is most important to customers 730 00:39:14,400 --> 00:39:17,120 Speaker 1: these days is simplicity in everything that we do, not 731 00:39:17,280 --> 00:39:20,200 Speaker 1: just the solutions that we offer in terms of their 732 00:39:20,360 --> 00:39:23,440 Speaker 1: easier use, but how easy are we to do business 733 00:39:23,440 --> 00:39:27,440 Speaker 1: with and the business models associated with it. So, for instance, 734 00:39:27,719 --> 00:39:30,520 Speaker 1: recently we introduced the notion of a note based price, 735 00:39:31,239 --> 00:39:34,680 Speaker 1: which helps customers simply deploy our solutions without having to 736 00:39:34,719 --> 00:39:37,160 Speaker 1: worry about how many network filds do I have, how 737 00:39:37,200 --> 00:39:39,959 Speaker 1: many applications do I have, and so on and so forth. 738 00:39:40,000 --> 00:39:42,160 Speaker 1: So that just makes it easy for them to engage 739 00:39:42,160 --> 00:39:46,040 Speaker 1: with us. So simplicity in everything that we do. Related 740 00:39:46,040 --> 00:39:48,720 Speaker 1: to that is the time to value that it takes. 741 00:39:48,760 --> 00:39:53,719 Speaker 1: Customers do not have eighteen month pricing and packaging and 742 00:39:53,800 --> 00:39:57,560 Speaker 1: deployment cycles when they make a procubant decision. They need 743 00:39:57,600 --> 00:40:01,279 Speaker 1: to see value of those solutions immediately and almost instantly. 744 00:40:01,760 --> 00:40:04,439 Speaker 1: So that is the other dynamic that we differentiate on 745 00:40:04,840 --> 00:40:08,560 Speaker 1: and then we built from there into remediation and automation 746 00:40:09,000 --> 00:40:13,800 Speaker 1: related capabilities, all to unlock productivity at a reasonable cost 747 00:40:13,880 --> 00:40:16,680 Speaker 1: for the customer and with safety as well. First and 748 00:40:16,680 --> 00:40:20,320 Speaker 1: foremost particular people are working in the office, they're working remotely. 749 00:40:20,400 --> 00:40:24,680 Speaker 1: There's gnomes make for more vulnerabilities. Now, so okay, I 750 00:40:24,680 --> 00:40:28,680 Speaker 1: know this is sort of a difficult, perhaps question and 751 00:40:28,719 --> 00:40:33,200 Speaker 1: at times probably feels repetitive. But back in of course, 752 00:40:33,520 --> 00:40:36,320 Speaker 1: your name Solo Wins was embroiled with what the hackers 753 00:40:36,360 --> 00:40:38,880 Speaker 1: that managed to infiltrate your own software? How are you 754 00:40:38,920 --> 00:40:41,400 Speaker 1: looking to ensure that just doesn't happen again? And it 755 00:40:41,400 --> 00:40:43,160 Speaker 1: isn't going to be a theme of twenty three for 756 00:40:43,239 --> 00:40:47,920 Speaker 1: other people. Unfortunately, it has remained a theme in twenty 757 00:40:48,400 --> 00:40:51,799 Speaker 1: one and twenty two. Even though the spending on security 758 00:40:51,880 --> 00:40:55,160 Speaker 1: has gone up. The number of security incidents, very high 759 00:40:55,160 --> 00:40:59,640 Speaker 1: profile ones since what we were inflicted with, have continued 760 00:40:59,680 --> 00:41:03,760 Speaker 1: to And my belief is we all need to continue 761 00:41:03,760 --> 00:41:06,200 Speaker 1: to work together in a partnership with the public and 762 00:41:06,239 --> 00:41:09,640 Speaker 1: the private to deliver what I call it the community 763 00:41:09,719 --> 00:41:13,080 Speaker 1: vigil And that's the only way we can improve no company, 764 00:41:13,120 --> 00:41:15,279 Speaker 1: how mad, no matter how good you are, or how 765 00:41:15,400 --> 00:41:19,560 Speaker 1: large you are, or how many resources you're spending, immune 766 00:41:19,600 --> 00:41:22,680 Speaker 1: to it. And so we have taken an approach of 767 00:41:22,760 --> 00:41:25,600 Speaker 1: secure by design and over the last couple of years, 768 00:41:25,840 --> 00:41:28,719 Speaker 1: as ignic as it may sound, we've actually built a 769 00:41:28,920 --> 00:41:32,759 Speaker 1: significantly greater level of trust with our customers in terms 770 00:41:32,760 --> 00:41:36,280 Speaker 1: of how we manage through the situation and built secure 771 00:41:36,320 --> 00:41:39,240 Speaker 1: by design. Criticis so that is what I would recommend 772 00:41:39,280 --> 00:41:44,360 Speaker 1: to everyone. Transparency, collaboration, urgency are the key things to 773 00:41:44,480 --> 00:41:48,560 Speaker 1: drive on a foundation of humility, Sica great tis in 774 00:41:48,640 --> 00:41:51,520 Speaker 1: time with you, Happy well. Holiday is a new year 775 00:41:51,719 --> 00:41:55,520 Speaker 1: of course. Sa Rama Krishna, the Solo Wan's CEO with 776 00:41:55,640 --> 00:41:58,359 Speaker 1: his outlook for three and look that does it. There's 777 00:41:58,360 --> 00:42:00,640 Speaker 1: addition of room by technology for to need twenty two 778 00:42:00,680 --> 00:42:03,200 Speaker 1: in Blomberg Technology. We're going to be back in January 779 00:42:03,239 --> 00:42:05,200 Speaker 1: to continue to bring you the biggest, the best out 780 00:42:05,239 --> 00:42:07,840 Speaker 1: there in terms of the technology the innovation space. Do 781 00:42:07,960 --> 00:42:10,520 Speaker 1: not forget to keep checking out our podcast. You can 782 00:42:10,520 --> 00:42:12,759 Speaker 1: find us on the terminal on Apple or Spotify and 783 00:42:12,800 --> 00:42:15,400 Speaker 1: I heart keep checking us out on Twitter, Twitter Spaces. 784 00:42:16,000 --> 00:42:17,320 Speaker 1: From New York, this is Blomberg