WEBVTT - Twitter Bans Journalists and Amazon Under Lawmakers Scrutiny 0:00:13.240 --> 0:00:15.600 I'm Caroline Hinder Bluemberg's World tad quarters in New York, 0:00:15.640 --> 0:00:18.120 and this is Bloomberg Technology coming up in the next hour. 0:00:18.200 --> 0:00:21.200 Freedom of speech in question us on Twitter as Elon 0:00:21.320 --> 0:00:25.280 Must suspends a number of journalists. We discussed Twitter's current policies. 0:00:25.680 --> 0:00:29.600 Now Must continues to create some well on the fly. Plus, 0:00:29.600 --> 0:00:32.320 just last year, a tornado took down an Amazon warehouse 0:00:32.320 --> 0:00:36.760 in Illinois. Why lawmakers are questioning a rebuild And off 0:00:36.760 --> 0:00:39.159 the back of the collapse of FDx crypto firm, Amber 0:00:39.240 --> 0:00:42.400 has raised three hundred million dollars to tackle the damage done. 0:00:43.000 --> 0:00:47.040 Details later in the hour. First Foremost well muted into 0:00:47.120 --> 0:00:48.839 a week's training. Let's have want to look at how 0:00:48.880 --> 0:00:51.360 tech stocks were under pressure. Once again, it seems to 0:00:51.360 --> 0:00:53.559 be all about the Federal Reserve. The perfect person to 0:00:53.560 --> 0:00:56.080 talk us through it, Kenny Greifeld in the House. What 0:00:56.200 --> 0:00:58.360 a week. It was quite a week, and I have 0:00:58.440 --> 0:01:00.240 some bad news. It was an ugly end to what 0:01:00.400 --> 0:01:02.560 was a very ugly week. If you take a look 0:01:02.600 --> 0:01:05.280 at the past five days for the SMP five hundred, 0:01:05.560 --> 0:01:08.120 you can see we have a little optimism at one point. 0:01:08.160 --> 0:01:10.759 That was on Tuesday, after those CPI numbers came out 0:01:11.120 --> 0:01:14.640 softer than expected, still seven percent handle. But in any case, 0:01:14.840 --> 0:01:16.600 then we had the FED and then it was just 0:01:17.080 --> 0:01:20.720 one line down. Since then we're gonna end lower on 0:01:20.880 --> 0:01:23.800 the SMP five hundred. If we break apart this index 0:01:23.880 --> 0:01:25.920 into the sectors, let's take a look at some of 0:01:26.000 --> 0:01:29.720 the worst performers. You had communication services, you had materials, 0:01:29.720 --> 0:01:32.480 then you had financials as well, down two and a 0:01:32.560 --> 0:01:36.480 half percent or so. Consumer Discretionary is where it gets interesting. 0:01:36.520 --> 0:01:38.800 That was your worst performer on the sector level on 0:01:38.880 --> 0:01:42.120 this week, off about three point six percent or so. 0:01:42.400 --> 0:01:44.840 What's interesting to me is that it was Tesla and 0:01:44.880 --> 0:01:48.000 it was for dragging down that sector. So a tale 0:01:48.080 --> 0:01:50.520 of old and new. But let's break this apart even 0:01:50.560 --> 0:01:53.840 further and look at some of the individual stories here. 0:01:53.880 --> 0:01:57.800 You have Goldman falling today by about one percent or so. That's, 0:01:57.800 --> 0:02:00.800 of course after reporting showed that Oldman is looking to 0:02:00.840 --> 0:02:03.919 cut up to four thousand jobs. That would be about 0:02:03.960 --> 0:02:07.120 an eight percent or so pull back again, that's according 0:02:07.120 --> 0:02:09.799 to people familiar with the matter. You had Starbucks off 0:02:09.840 --> 0:02:12.960 by more than one percent. That says news that Starbucks 0:02:13.000 --> 0:02:16.239 staff are starting a three day strike. And I want 0:02:16.240 --> 0:02:18.320 to end on some good news because it is a 0:02:18.360 --> 0:02:21.640 Friday in December, meta platforms up by about two point 0:02:21.720 --> 0:02:25.560 eight percent. That falls an upgrade from JP Morgan citing 0:02:25.720 --> 0:02:30.200 their cost discipline Caroline. Unfortunately, margin is still the focus 0:02:30.240 --> 0:02:33.120 for many. Katie, have a wonderful weekend. Can't believe the 0:02:33.120 --> 0:02:35.959 holidays are almost upon us now. Before all that, we 0:02:36.000 --> 0:02:38.360 were all kept pretty busy today. I don't know about you, 0:02:38.400 --> 0:02:40.760 but all eyes glued. And what happened with Twitter? After 0:02:40.800 --> 0:02:43.840 the platform, of course suspended the account of Arrival social 0:02:43.880 --> 0:02:46.480 network must Done, which had tweeted a link to a 0:02:46.480 --> 0:02:48.880 profile that tracked, of course, the flights of private jets 0:02:48.880 --> 0:02:53.119 of wealthy individuals, including you know Muskus. Then, of course 0:02:53.120 --> 0:02:56.359 a number of reporters covering Musque they posted screen grabs 0:02:56.360 --> 0:02:59.560 of the offending tweet and was actully suspended themselves. That 0:02:59.639 --> 0:03:02.320 include some pretty high profile journalists from the New York Times, 0:03:02.320 --> 0:03:05.560 from CNN and other outlets. Here's what Elon Musk himself 0:03:05.760 --> 0:03:09.840 had to say about that. They're not special because you're eternalist, 0:03:10.400 --> 0:03:14.800 You're you're just your Twitter, You're in your citizen um 0:03:14.880 --> 0:03:20.160 so no special treatment, um doc, your docs you get suspended. 0:03:20.320 --> 0:03:24.200 In a story. Of course, this move has sparked a 0:03:24.240 --> 0:03:26.160 lot of questions. We'll try to answer some of them 0:03:26.200 --> 0:03:30.239 throughout the hour. First we get our Twitter expert in residence, 0:03:30.360 --> 0:03:33.880 Kurt Wagner. Of course, Elon must talking on a spaces 0:03:34.080 --> 0:03:37.240 of which then Spaces immediately became inaccessible. We couldn't do 0:03:37.240 --> 0:03:39.680 our weekly spaces as we usually do. Just talk to 0:03:39.800 --> 0:03:44.520 us about just what an extraordinary story this is today. Yeah, 0:03:44.600 --> 0:03:48.080 I think it's just been a real example of Elon 0:03:48.240 --> 0:03:53.000 really managing on the fly, right, and he is coming 0:03:53.080 --> 0:03:55.280 up with sort of new policies. He's coming up with 0:03:55.320 --> 0:03:59.760 decisions about suspensions, um, with things that you know directly 0:04:00.040 --> 0:04:03.760 hacked him personally, and then that is translated to the 0:04:03.760 --> 0:04:07.080 whole product, you know, in this case, within ours, right. 0:04:07.120 --> 0:04:09.600 And so it's just kind of a good example of 0:04:09.640 --> 0:04:13.200 how he's choosing to run Twitter, sort of how it's 0:04:13.200 --> 0:04:15.920 going to be difficult to understand exactly what to make 0:04:15.960 --> 0:04:18.320 of Twitter, right, because things can change so quickly and 0:04:18.320 --> 0:04:21.280 so suddenly. Um. I think that's left a lot of 0:04:21.360 --> 0:04:24.200 journalists in particular kind of worried or confused as to 0:04:24.279 --> 0:04:26.599 what might be, you know, happening at some point in 0:04:26.600 --> 0:04:30.080 the future. As well. If we look at the other 0:04:30.120 --> 0:04:33.120 side and think, well, maybe he is really concerned about 0:04:33.200 --> 0:04:37.320 his own safety and worried cut but ultimately deciding to 0:04:37.400 --> 0:04:39.400 make the sort of decisions on the fly. How is 0:04:39.400 --> 0:04:42.880 that affecting not only journalistic world? And we might say 0:04:42.920 --> 0:04:45.040 this a bit inside baseball, but what about the advertiser? 0:04:45.080 --> 0:04:46.640 What about the companies who want to use this as 0:04:46.640 --> 0:04:49.839 a way to get eyeballs of the consumer. Well, what 0:04:49.920 --> 0:04:52.840 we've been saying all along, right, is that advertisers in particular, 0:04:52.960 --> 0:04:56.760 they don't like uncertainty. They like to be uh, they 0:04:56.800 --> 0:04:59.159 like the platforms that they're on to sort of be boring. 0:04:59.200 --> 0:05:01.040 They want to know what expect. They want to know 0:05:01.320 --> 0:05:02.960 what type of content is going to be there, what 0:05:03.040 --> 0:05:05.880 the rules are, how people are using it. Right, So, 0:05:05.920 --> 0:05:09.240 when things are changing overnight, when things are changing sort 0:05:09.279 --> 0:05:13.120 of drastically, um this quickly, I think that upsets or 0:05:13.240 --> 0:05:15.880 unsettles a lot of advertisers because that's just not how 0:05:15.920 --> 0:05:18.080 they're used to working and that's not what they prefer. 0:05:18.520 --> 0:05:20.920 And so I think from a business standpoint, that's where 0:05:20.920 --> 0:05:23.280 the concern is. If the policy can change overnight to 0:05:23.320 --> 0:05:26.040 affect journalists in this case, you know what other policies 0:05:26.040 --> 0:05:28.279 could happen in the future that could affect a brand 0:05:28.279 --> 0:05:31.240 advertiser who was spending you know, thousands, hundreds of thousands 0:05:31.279 --> 0:05:34.360 of dollars at the service and cut some interesting news 0:05:34.800 --> 0:05:39.239 coming from another outlook about potentially Twitter still fundraising. Just briefly, 0:05:39.279 --> 0:05:42.200 what do we know that? Yeah, there was a report 0:05:42.200 --> 0:05:44.560 from Semapore and it came out and said that they 0:05:44.560 --> 0:05:46.799 were raising money at the fifty four dollars and twenty 0:05:46.920 --> 0:05:50.480 cents per share that Elon bought Twitter at right, and um, 0:05:50.520 --> 0:05:53.160 in some cases, this isn't entirely surprising. We were just 0:05:53.200 --> 0:05:55.280 talking about advertisers being a little nervous to be on 0:05:55.320 --> 0:05:58.080 the platform. There's got to be some type of revenue 0:05:58.120 --> 0:06:00.200 concern at the company right now. They're going to have 0:06:00.320 --> 0:06:03.920 these debt interest payments due in January, and so, you know, 0:06:04.040 --> 0:06:08.279 if you're having trouble making money making revenue through your business, 0:06:08.640 --> 0:06:11.760 maybe there's a way to kind of fundraise and make 0:06:11.800 --> 0:06:14.400 more money that way. So we'll see how many people 0:06:14.400 --> 0:06:16.800 are willing to sign up for Elon's version of Twitter 0:06:16.880 --> 0:06:18.800 now that they've had about six or seven weeks to 0:06:18.839 --> 0:06:21.440 see how he's running the company. But UM, I think 0:06:21.440 --> 0:06:23.640 to me, this speaks to a need of the company 0:06:23.960 --> 0:06:28.040 in search of more cash. Always great to get your expertise. 0:06:28.080 --> 0:06:31.600 Thank you for setting us up so well. Happy weekend friend. Meanwhile, 0:06:31.839 --> 0:06:35.159 let's dive deeper into all of this. Jennifer Greigel, Associate 0:06:35.160 --> 0:06:38.400 Professor of Communications at Syracuse University, also of course an 0:06:38.480 --> 0:06:41.080 expert in social media, been part of our discussion on 0:06:41.120 --> 0:06:43.640 Bloomberg since the early days and must possible acquisition of 0:06:43.680 --> 0:06:48.840 Twitter and chickens coming home to roost in some way. Jennifer, Yeah, 0:06:49.000 --> 0:06:52.600 not much has changed. You know. Maybe the gift though, 0:06:52.680 --> 0:06:55.440 is that Musk has just made it painfully obvious that 0:06:55.480 --> 0:06:58.040 it's time to go, especially for those journalists that we 0:06:58.040 --> 0:07:00.920 were just talking about, right and know about Kurt maybe 0:07:00.960 --> 0:07:06.200 he watches World Cup, but I am there watching what's happening. Uh, 0:07:06.279 --> 0:07:09.320 you know within the journalism world, um, specifically with an 0:07:09.320 --> 0:07:11.720 eye towards the free press. And maybe it's a good 0:07:11.720 --> 0:07:14.640 time to to step back and remember what that is. 0:07:14.760 --> 0:07:17.960 It's it's supposed to be free from the government. Right. 0:07:18.080 --> 0:07:21.600 So well, we're thinking about like free speech issues and 0:07:21.720 --> 0:07:24.160 you know what are elon Musk's rights, you know, like 0:07:24.240 --> 0:07:26.640 he gets to have his free speech because he owns this, 0:07:27.040 --> 0:07:29.480 but the rest of us, well not so much, right, 0:07:29.640 --> 0:07:32.600 And uh, you know, the risk I think has really 0:07:32.640 --> 0:07:35.680 proven to be that we cannot have Twitter b at 0:07:35.680 --> 0:07:39.200 the center of journalism. We don't want some type of 0:07:39.680 --> 0:07:43.160 you know, like Baron or you know, rich, you know, 0:07:43.280 --> 0:07:47.760 kind of mogul kind of deciding who is essentially authentic, 0:07:47.880 --> 0:07:51.600 should be trusted, who's a journalist, who who should be 0:07:51.600 --> 0:07:54.440 on there, who can say what and when? And uh, 0:07:54.520 --> 0:07:56.960 you know again, I think it's just for me, it's 0:07:57.040 --> 0:08:00.800 the journalism piece, and that's that's uh, something we need 0:08:00.840 --> 0:08:05.760 to focus on more, Jennifer. The other side has been 0:08:05.760 --> 0:08:09.960 discussed that other voices have been suppressed for years, and 0:08:10.000 --> 0:08:12.800 in fact, I've been coverage of that, many of it 0:08:12.880 --> 0:08:15.680 being associated with right wing and right wing press. What 0:08:15.720 --> 0:08:17.880 do you make of that and whether or not we're 0:08:18.080 --> 0:08:23.400 deafening ourselves to certain sides of a conversation about Yeah, Um, 0:08:23.440 --> 0:08:25.960 I know, for one, I've been reading the Twitter files. 0:08:26.080 --> 0:08:28.680 I think it's problematic and how the information has come 0:08:28.720 --> 0:08:31.520 out and then and not enough journalists have beent access 0:08:31.560 --> 0:08:33.480 to that, so we're getting kind of like, you know, 0:08:33.600 --> 0:08:38.200 pieces of those stories, you know, the kind of cherry picking, right, 0:08:38.280 --> 0:08:41.320 But for me, there's actually some insights in there. We 0:08:41.360 --> 0:08:45.600 have real cases into you know, how deeply connected the 0:08:45.640 --> 0:08:50.120 federal government was, you know, and with the content moderation teams. 0:08:50.480 --> 0:08:53.280 That's concerning, um. But I know I was one of 0:08:53.840 --> 0:08:56.960 you know, maybe few out there raising alarms around what 0:08:57.120 --> 0:08:59.760 was happening around the New York Post when the hunter 0:08:59.840 --> 0:09:01.520 by in case came out and it was a little 0:09:01.520 --> 0:09:03.240 bit of crickets out there. But for me, it was 0:09:03.240 --> 0:09:06.240 a case as to what is journalism? And I think 0:09:06.280 --> 0:09:10.000 that's showing up again, showing up again with you know, 0:09:10.080 --> 0:09:12.120 if you were just saying the suspension of you know, 0:09:12.160 --> 0:09:16.079 like Tony O'Sullivan at CNN, Ryan mack at at the 0:09:16.080 --> 0:09:19.240 New York Times, like they were reporting on this, and 0:09:19.360 --> 0:09:23.120 so again they didn't you know, hack any information. They 0:09:23.600 --> 0:09:27.319 did India compiled this uh yeah, this jet tracker right 0:09:27.400 --> 0:09:29.800 like that. They were reporting out what was happening. So 0:09:29.840 --> 0:09:32.360 what is news? And you know, can they share a 0:09:32.400 --> 0:09:34.680 link to a New York Times story? You know that 0:09:34.840 --> 0:09:38.520 was uh you know sharing that information or was it 0:09:38.559 --> 0:09:40.800 because it was in a tweet? I'm just not sure. 0:09:40.880 --> 0:09:44.360 So for me, it's really a question of, uh, you know, 0:09:44.400 --> 0:09:47.880 what is news? Who's a journalist? And are they being 0:09:47.920 --> 0:09:53.720 censored on there? Citizen journalism though, has maybe it's the 0:09:53.720 --> 0:09:57.000 force of the crypto stare as well, in large part 0:09:57.040 --> 0:09:59.760 working in tandem with this narrative of Elon must taking 0:09:59.760 --> 0:10:02.679 over Twitter. But it has been extraordinary that in some 0:10:02.720 --> 0:10:05.960 parts you have had direct access to some Bakmun freed 0:10:06.040 --> 0:10:08.679 Vara Twitter spaces in a way that never used to 0:10:08.760 --> 0:10:11.680 be the case, and journalism sort of the journalists being 0:10:11.679 --> 0:10:14.960 cut out in some way. Where where are we going 0:10:15.000 --> 0:10:18.120 to go to for our trusted sources going forward? Does 0:10:18.160 --> 0:10:21.640 Twitter still have a role to play? Do you think? Well, 0:10:21.640 --> 0:10:24.200 a big question for a while, like are the stock 0:10:24.240 --> 0:10:28.480 markets decoupling from the signals that used to be coming 0:10:28.559 --> 0:10:32.880 sometimes from data sets like Twitter? Right? But when it 0:10:32.880 --> 0:10:35.920 comes to citizen journalism, I think that's you know, I 0:10:35.960 --> 0:10:39.080 would say different than having direct access to like, you know, 0:10:39.240 --> 0:10:43.000 somebody who's UM pitching an investment, right, Like, these are 0:10:43.040 --> 0:10:47.840 what we call sources there essentially news material and until 0:10:48.120 --> 0:10:51.280 it's vetted by a journalist, uh, it's really not news. 0:10:51.320 --> 0:10:53.760 So we have to remember that even in the case 0:10:53.800 --> 0:10:56.960 of the citizen journalists, you know, they may not be 0:10:57.280 --> 0:11:00.640 UM even identifying as such. They may you just somebody 0:11:00.640 --> 0:11:03.800 who is there and uh, some type of crisis happened 0:11:03.840 --> 0:11:06.560 and they happen to be pointing their camera at something, 0:11:06.679 --> 0:11:09.600 and they should still be seen as a source. Um. 0:11:09.679 --> 0:11:11.959 And I think that's some of the struggle with citizen 0:11:12.040 --> 0:11:14.280 journalism is that, you know, maybe there is not the 0:11:14.320 --> 0:11:19.720 same type of ethical grounding. But this even gets more discussion. 0:11:19.760 --> 0:11:21.320 I would say, you know, what, what is the role 0:11:21.360 --> 0:11:25.560 of a citizen journalist more than say who is um, 0:11:25.720 --> 0:11:28.440 somebody who's working for like state media for example. So 0:11:28.480 --> 0:11:30.559 I'm gonna just say one of the people that were 0:11:30.559 --> 0:11:34.760 suspended overnight, uh work for a Voice of America. And 0:11:35.080 --> 0:11:37.960 I would say that we need to start remembering that 0:11:37.960 --> 0:11:41.120 that is funded by the United States government. So you know, 0:11:41.360 --> 0:11:44.280 there's like the free press over here, and then there's 0:11:44.400 --> 0:11:47.400 there's also something else happening on Twitter, and for years 0:11:47.440 --> 0:11:50.320 that hasn't been labeled. So again, like you know, some 0:11:50.360 --> 0:11:52.640 people watching sports and I'm just over here eating popcorn, 0:11:52.720 --> 0:11:55.840 be like, okay, US state media has been suspended. Did 0:11:55.840 --> 0:11:58.760 anyone notice, uh, you know, like okay, we got citizen 0:11:58.840 --> 0:12:01.120 journalists coming in. Okay, n sure, but like what are 0:12:01.200 --> 0:12:04.280 what is their role on? It's too so but for me. 0:12:04.440 --> 0:12:07.160 We have to remember the free press is what matters, 0:12:08.200 --> 0:12:10.720 making sure it's healthy and that it's it's not being 0:12:10.720 --> 0:12:15.199 controlled and kind of keep by, you know, some type 0:12:15.200 --> 0:12:21.840 of rich overlord. Jennifer Greigel, Associate professoral Communications at Serokees University, 0:12:21.960 --> 0:12:24.480 Thank you. And some breaking news to keep the narrative 0:12:24.559 --> 0:12:27.200 going is that apparently you know, masku is saying Twitter 0:12:27.240 --> 0:12:30.360 spaces is back if you're missing it for those twenty 0:12:30.360 --> 0:12:40.160 four hours or so. Let's talk about Amazon because it 0:12:40.240 --> 0:12:43.360 is planning on rebuilding a warehouse over in Illinois after 0:12:43.400 --> 0:12:46.120 it collapsed in a tornado last year. It actually killed 0:12:46.120 --> 0:12:49.920 six workers. It prompted actually an investigation by workplace safety regulators, 0:12:49.920 --> 0:12:53.400 but three US lawmakers say the e commerce giant should 0:12:53.440 --> 0:12:56.800 be constructing it with stronger safety features than existed before 0:12:56.840 --> 0:13:00.200 the collapse. Expensive SOPO has been across this store, and 0:13:00.840 --> 0:13:04.160 in many ways people the whole tornado and the effect 0:13:04.200 --> 0:13:08.160 and the havocate reaked on families. It put into start 0:13:08.240 --> 0:13:10.920 relief some of the issues about contacting people when they're 0:13:10.920 --> 0:13:12.960 in and working around Amazon, and indeed some of the 0:13:12.960 --> 0:13:16.959 safety measures in place. Yeah, there was so there was 0:13:17.000 --> 0:13:19.480 a very strong reaction. Six people died at Amazon. It 0:13:19.600 --> 0:13:21.520 was more than fifty deaths as a result of this 0:13:21.559 --> 0:13:25.079 Cornator is pretty devastating event, and so Amazon was a 0:13:25.160 --> 0:13:27.480 piece of it. And at the time there is a 0:13:27.559 --> 0:13:32.120 lot of attention on our our existing building standards adequate 0:13:32.400 --> 0:13:36.320 to protect people if we are seeing more severe weather events, um, 0:13:36.480 --> 0:13:38.600 and so that was a big emphasis. Now the latest 0:13:38.640 --> 0:13:42.359 thing is, uh, you know, there's in equations that Amazon's 0:13:42.400 --> 0:13:45.400 basically and the landlord is basically slapping up the same 0:13:45.440 --> 0:13:49.120 building that was there previously. And these lawmakers are probing 0:13:49.600 --> 0:13:52.920 Amazon with questions about, you know, precisely, what are you 0:13:52.960 --> 0:13:55.280 doing to improve the safety of this facility in the 0:13:55.320 --> 0:13:58.520 event that there is a recurrence of this event. But 0:13:58.640 --> 0:14:01.839 it is It is a difficult because storm shelters are 0:14:01.840 --> 0:14:05.360 not required. Things that that may have protected these workers 0:14:05.679 --> 0:14:09.160 more are not necessarily acquired, They're like recommended. So a 0:14:09.200 --> 0:14:11.240 lot of the two goes back on them on the 0:14:11.280 --> 0:14:14.559 on the regulating side, what are they actually going to require, um, 0:14:14.920 --> 0:14:19.440 you know, industrial buildings to have to protect workers. Amazon 0:14:19.480 --> 0:14:21.440 did say in a statement that they strengthen their emergency 0:14:21.480 --> 0:14:24.520 response plans and tailor them to meet specific needs of 0:14:24.560 --> 0:14:27.720 individual sites. I'm interested Spencer just all of this comes 0:14:27.720 --> 0:14:30.560 amid a macro picture where the pendulum kind of swings 0:14:30.560 --> 0:14:34.040 in Amazon's direction. They wanted they're an employer. Perhaps they're 0:14:34.080 --> 0:14:37.400 thinking more about employees who want the jobs looking for them, 0:14:37.400 --> 0:14:40.359 willing to come and perhaps work in these sorts of environments. 0:14:40.360 --> 0:14:43.280 And and I'm interested in also the spillover effects. We 0:14:43.360 --> 0:14:45.760 here just the UK their latest headline that we're going 0:14:45.760 --> 0:14:47.440 to get a strike. I think it's the first strike 0:14:47.760 --> 0:14:51.120 in the UK from Amazon workers over in Coventry. What 0:14:51.120 --> 0:14:53.480 would workers at Amazon think about all of this at 0:14:53.480 --> 0:14:56.880 the moment, Well, it's hard to generalize, right, They've got 0:14:56.880 --> 0:15:00.240 more than really employees, and you have people in these 0:15:00.280 --> 0:15:03.520 facilities who are not satisfied and want to organize. You 0:15:03.600 --> 0:15:05.920 have other people who are perfectly content and don't want 0:15:05.920 --> 0:15:08.880 to organize. We've had some you know, quite a few 0:15:08.960 --> 0:15:13.600 union elections failed after this. Uh historic when in Staten Island. 0:15:14.000 --> 0:15:15.720 Um and in terms of that you pay things. They're 0:15:15.720 --> 0:15:18.520 talking about striking in January. That's kind of a time 0:15:18.520 --> 0:15:21.720 of year when Amazon generally you know, whittling and staff 0:15:21.760 --> 0:15:23.680 down a little bit after the holiday conscient So I 0:15:23.680 --> 0:15:25.880 don't strategically, it doesn't seem to be like such a 0:15:25.880 --> 0:15:28.480 bad time. And also, the UK is about one tenth 0:15:28.880 --> 0:15:31.840 of the revenue of of U s Amagon, the primary 0:15:31.880 --> 0:15:34.760 monket So I don't know if you know, you know, 0:15:34.880 --> 0:15:37.600 takeet a sizeable number of people from that one particular facility, 0:15:37.800 --> 0:15:41.440 it's gonna inflict much pain on Amazon. If workers really 0:15:41.480 --> 0:15:44.480 want to inflict pain on Amazon to get their attention, 0:15:44.760 --> 0:15:49.280 they're really gonna need a big movement or a concentrated 0:15:49.560 --> 0:15:53.680 geographic movement that that expands beyond this one facility. Because 0:15:53.720 --> 0:15:58.080 it Amazon's resilient enough to handle even a big strip 0:15:58.160 --> 0:16:00.480 and one facility, It's gonna have to deel really big 0:16:00.480 --> 0:16:04.720 work for for Amazon to ticket seriously enough to pay attention. 0:16:04.840 --> 0:16:06.880 Now fascinating as you sit there in Seattle, and we 0:16:06.920 --> 0:16:10.720 see Starbucks staffing beginning a three day sixty store strike 0:16:10.760 --> 0:16:13.480 as well, So so something we keep on talking about. 0:16:13.280 --> 0:16:16.160 Spencer Soper, great to catch up with you, Happy weekend. 0:16:16.440 --> 0:16:19.560 Thank you. Meanwhile, coming up, Bloomberg Business Week's list of 0:16:19.600 --> 0:16:23.120 fifty most Impactful People in Business is out this week. 0:16:23.280 --> 0:16:25.400 We're gonna speak to one of them, Tom Oxley, CEO 0:16:25.960 --> 0:16:29.280 synchron who made this year's list with the company's brain 0:16:29.360 --> 0:16:33.560 computer interfaces, its back by Bezos's backed by Gates. Will 0:16:33.600 --> 0:16:50.280 tell you why this is Blomberg. Bloomberg is out this 0:16:50.360 --> 0:16:53.280 week with our sixth annual Bloomberg fifty. It's a look 0:16:53.280 --> 0:16:56.400 at people across finance technology. You name the industry that 0:16:56.520 --> 0:17:00.200 have defined global business in two one name that's out 0:17:00.200 --> 0:17:02.800 to us, and the list was Tom Oxley, CEO of synchron, 0:17:03.160 --> 0:17:05.880 which just completed a seventy five million dollar funning round 0:17:05.920 --> 0:17:08.840 because the company is backed already now by basils by 0:17:08.880 --> 0:17:13.359 Gates creates brain computer interfaces known as bc ies that 0:17:13.440 --> 0:17:16.760 can interpret, can stimulate parts of the brain, and as 0:17:16.760 --> 0:17:20.040 seen as possible treatment for brain injuries. Tom joins us 0:17:20.040 --> 0:17:23.000 now and if anything is at the cumming end of technology, 0:17:23.080 --> 0:17:25.600 you are brain computer interfaces, the way in which you 0:17:25.640 --> 0:17:29.440 can treat debilitating illness, the way you can transmit thoughts 0:17:29.440 --> 0:17:34.040 sort of wirelessly to digital devices. Tom talk to us 0:17:34.040 --> 0:17:37.119 about if you can basically how this works. Technology has 0:17:37.160 --> 0:17:40.960 been around for twenty years. The challenge for commercialization has 0:17:41.000 --> 0:17:44.960 been to make it fully implanted and safe. And our 0:17:45.320 --> 0:17:47.080 what we do is we figured out how to put 0:17:47.119 --> 0:17:51.359 the devices inside blood vessels inside the brain. It detects 0:17:51.560 --> 0:17:53.600 from the part of the brain that controls the movement 0:17:53.600 --> 0:17:56.320 in the body. We digitize that signal, bring it out 0:17:56.320 --> 0:17:59.760 of the body, and then we use it to control 0:18:00.000 --> 0:18:02.800 computers so that patients who are paralyzed can restore their 0:18:02.840 --> 0:18:06.440 ability to engage with their world through a digital ecosystem, 0:18:06.480 --> 0:18:09.080 which which you and I take for granted. Yeah, suddenly 0:18:09.119 --> 0:18:13.720 being able to share SMS is what'sapp messages, were able 0:18:13.760 --> 0:18:17.000 to order food online? Do your bills or credit cards 0:18:17.040 --> 0:18:19.240 as extraordinary? What they can be used for? The way 0:18:19.280 --> 0:18:21.920 in which you talk to investors. Of course, having those 0:18:21.920 --> 0:18:25.320 conversations with Jeff Bezos, with with Koesler, of course, you 0:18:25.440 --> 0:18:27.960 know Cosler one of your first backers. What is it 0:18:28.000 --> 0:18:30.199 about time frames? What is it about pacing that you 0:18:30.240 --> 0:18:34.879 talk to them about? A Class three medical device is 0:18:34.920 --> 0:18:39.120 a very long journey, So the time frame is long. 0:18:39.160 --> 0:18:41.160 But we've been at this for ten years. Actually, we've 0:18:41.200 --> 0:18:43.919 been in discussions with FDA to get this clearance for 0:18:43.960 --> 0:18:46.960 the study that's happening in the US currently, we just 0:18:47.880 --> 0:18:51.160 a third enrollment happened with the implant happening this week 0:18:51.200 --> 0:18:54.159 at u p MC in Pittsburgh. So we're moving along, 0:18:54.200 --> 0:18:56.480 but we've still got several years to go. The next 0:18:56.520 --> 0:19:00.040 step to the serious C financing is to launch a 0:19:00.160 --> 0:19:03.160 pivotal study that will take us one step closer towards 0:19:03.200 --> 0:19:08.120 commercial lodge the people, the impact the market sort of 0:19:08.200 --> 0:19:12.880 how many could this help? Tom, Paralysis is a very 0:19:12.960 --> 0:19:15.359 large problem when you think about it, not as a 0:19:15.400 --> 0:19:19.240 particular disease state, whether it's stroke or spinal cord injury 0:19:19.320 --> 0:19:23.840 or als or multiple sclerosis. Many ailments or injuries can 0:19:23.880 --> 0:19:28.560 impact the body's ability to control the muscles in your body. 0:19:28.640 --> 0:19:31.840 So we actually think there's a hundred million people worldwide 0:19:31.840 --> 0:19:34.840 who have lost the ability to use their hands to 0:19:34.920 --> 0:19:38.360 control digital devices like you or I do. But where 0:19:38.359 --> 0:19:40.480 we're starting as the most severe end of that spectrum, 0:19:40.520 --> 0:19:43.560 for people who are unable to engage at all the 0:19:43.600 --> 0:19:46.920 digital systems and complete completely depend on a loved one 0:19:46.960 --> 0:19:50.280 or a caregiver for their for their daily needs. We're 0:19:50.280 --> 0:19:52.159 looking at footage now of just in the way in 0:19:52.200 --> 0:19:56.720 which this can potentially be revolutionary for people who have 0:19:56.800 --> 0:20:00.000 lost the ability to communicate in that way. Tom, You're there. 0:20:00.040 --> 0:20:02.800 Brooklyn talked to us about at the moment it's regulation 0:20:02.880 --> 0:20:04.680 and a moment it's making sure that you're getting the 0:20:04.800 --> 0:20:07.520 right test results and showing that you're hitting all those 0:20:07.520 --> 0:20:10.760 sorts of hurdles, But what about talent, what about where 0:20:10.800 --> 0:20:12.720 you grow this business? How have you been able to 0:20:12.720 --> 0:20:17.879 do that. We are excited we're going to set up 0:20:17.880 --> 0:20:20.240 in the Bay Area, and we made a decision to 0:20:20.320 --> 0:20:22.600 stay in New York primary. We're setting up here in 0:20:22.600 --> 0:20:26.639 the Brooklyn Navy Yard. We've grown to fifty people, and 0:20:26.920 --> 0:20:29.000 we the people coming into the company, share a lot 0:20:29.080 --> 0:20:32.080 of New York City, so we've got a really interesting 0:20:32.280 --> 0:20:34.920 mixed here and very passionate and talented people that are 0:20:35.359 --> 0:20:37.480 really loving being inside New York City. A lot of 0:20:37.480 --> 0:20:41.280 our investors here. Our chief medical opposite, Ja Moco at 0:20:41.280 --> 0:20:44.840 Mount Sinai is here locally. We have a Dave Petrino 0:20:44.920 --> 0:20:49.600 who's running the Mount Sinai, the Mount Sinai Study, So 0:20:49.840 --> 0:20:52.240 we were We think New York is a great place 0:20:52.320 --> 0:20:55.159 to be doing medical device innovation. Great to have some 0:20:55.200 --> 0:20:57.879 time with the Tom Oxley congratulations, it's wonderful to have 0:20:57.920 --> 0:20:59.800 you on the s S chron Of course, be sure 0:20:59.840 --> 0:21:02.960 that's check out this week's issue a Business Week and 0:21:03.200 --> 0:21:05.000 you'll get all the deep dive on some of these 0:21:05.000 --> 0:21:15.919 incredible entrepreneurs. Welcome back to britte Bag Technology. I'm Caroline 0:21:15.960 --> 0:21:18.280 Hide in New York and joining us to well deep 0:21:18.320 --> 0:21:20.840 dive once again into the world the extraordinary day, this 0:21:20.920 --> 0:21:24.040 extraordinary six weeks around Twitter. This time, of course, we're 0:21:24.040 --> 0:21:26.679 going to discuss the banning of accounts of certain journalists. 0:21:27.200 --> 0:21:30.119 Great voice Jason Goldman, one of the founding members of Twitter, 0:21:30.200 --> 0:21:32.840 former White House Chief Digital Officer under President of Barmber. 0:21:32.880 --> 0:21:35.680 Of course you've got an insider outside of perspective here 0:21:35.760 --> 0:21:39.560 and Jason first and foremost. When we think about whether 0:21:39.880 --> 0:21:42.919 Elon Musk at the moment, many would say yes, we 0:21:42.960 --> 0:21:44.679 don't always like the way in which he acts and 0:21:44.720 --> 0:21:48.360 gets there, but you can't. You can't back against him. 0:21:48.440 --> 0:21:51.080 He always gets things done, the success he has with Tessa, 0:21:51.119 --> 0:21:53.440 that success he has with SpaceX. But at the moment, 0:21:53.520 --> 0:21:56.320