WEBVTT - Apple News and Google's New Acquisition 0:00:00.040 --> 0:00:06.160 Yeah, from the heart of where innovation, money and power 0:00:06.240 --> 0:00:11.640 collive in Silicon Valley and beyond. This is Bloomberg Technology 0:00:11.800 --> 0:00:27.280 with Emily Jay. I'm Emily Chang in San Francisco, and 0:00:27.320 --> 0:00:29.480 this is Bloomberg Technology coming up in the next hour. 0:00:29.640 --> 0:00:33.599 Volatility continues to grip global financial markets as the U 0:00:33.720 --> 0:00:37.200 S and the UK cut off, Russian oil stocks, bonds 0:00:37.240 --> 0:00:41.680 tech swinging wildly. We'll bring you the market moves class. 0:00:41.720 --> 0:00:44.760 Apple unveils a new five g iPad and iPhone with 0:00:44.880 --> 0:00:49.960 its faster signature chip. But how will the global economic uncertainty, inflation, 0:00:50.080 --> 0:00:54.760 rising gas prices impact consumer demand? We'll discuss and Mandy 0:00:54.800 --> 0:00:57.440 and off the market. Google beats out Microsoft and its 0:00:57.480 --> 0:01:00.720 second biggest acquisition. Ever, how this chang changes the cyber 0:01:00.760 --> 0:01:04.680 defense landscape with Ukraine and Russia related hack attacks on 0:01:04.720 --> 0:01:18.680 the rise. The new iPhone sc brings the advanced features 0:01:18.680 --> 0:01:23.280 and exceptional performance of a fifteen to our most affordable iPhone. 0:01:23.920 --> 0:01:26.840 It's going to be great for existing iPhone users who 0:01:26.840 --> 0:01:30.760 want to highly capable and compact iPhone and for new 0:01:30.880 --> 0:01:34.119 users who want to experience iPhone for the first time. 0:01:35.600 --> 0:01:38.000 Apple CEO Tim Cook there at the company's first product 0:01:38.040 --> 0:01:42.080 event kicking off what's likely to be its most prolific 0:01:42.160 --> 0:01:44.480 year yet for new product releases, I want to break 0:01:44.480 --> 0:01:47.319 the event down with Juliasca Forster Research on our very 0:01:47.360 --> 0:01:50.720 own Mark German. So, Mark, we got a new iPhone, 0:01:50.880 --> 0:01:53.440 new iPad air, we got the the M one chip 0:01:53.560 --> 0:01:57.280 in more products. Talked to us about the most significant 0:01:57.400 --> 0:02:01.040 updates we saw today. Yeah, I think the two most 0:02:01.040 --> 0:02:03.480 significant product that we we saw today was the new 0:02:03.520 --> 0:02:06.080 iPhone SC as well as the Max Studio next to 0:02:06.160 --> 0:02:10.160 your display, I'll consider that, you know, one combined product line. 0:02:10.240 --> 0:02:13.000 So starting with the SC, I think that's significant because 0:02:13.040 --> 0:02:14.600 I think it's going to bring over a lot of 0:02:14.639 --> 0:02:18.240 switchers to the iPhone, particularly people who want to get 0:02:18.520 --> 0:02:21.280 a somewhat low priced five G phone. Right, I think 0:02:21.280 --> 0:02:23.760 the big news for the SC is five G. Now, 0:02:23.919 --> 0:02:25.880 I'm not at the school thought that thanks five G 0:02:26.040 --> 0:02:29.160 has really moved the needle in terms of performance, but 0:02:29.280 --> 0:02:31.960 I do believe five G has been an extremely key 0:02:32.160 --> 0:02:35.000 marketing term for Apple, Samsung and other phonemakers and of 0:02:35.040 --> 0:02:37.480 course the carriers you know, for the most part, So 0:02:37.520 --> 0:02:39.360 I think that is going to drive some interest. Now 0:02:39.720 --> 0:02:42.240 the Max Studio. In the Max Studio display. I think 0:02:42.280 --> 0:02:45.480 the display at six is going to do fairly well. 0:02:45.560 --> 0:02:48.280 Consumers have been looking for an Apple design Apple sold 0:02:48.320 --> 0:02:52.560 display since they discontinued their own cinema displays several years ago, 0:02:52.840 --> 0:02:55.320 I think about six years ago. At this point, at six, 0:02:56.240 --> 0:02:58.399 it's about a third of the price of their five 0:02:58.480 --> 0:03:01.280 to six thousand dollar Pro display XTR. So I think 0:03:01.320 --> 0:03:03.480 that is going to be a very nice offering. This 0:03:03.560 --> 0:03:05.960 new M one Ultra chip, I think is really going 0:03:05.960 --> 0:03:08.960 to give Intel run for its money on the mid tier, 0:03:09.080 --> 0:03:11.200 sort of ching towards the high end as well on 0:03:11.240 --> 0:03:14.000 their chip lineup. And I think this Max Studio it's 0:03:14.000 --> 0:03:15.600 going to be low volume, but it's going to be 0:03:15.600 --> 0:03:20.840 popular amongst creative types video editing, photo editors, engineers, etcetera. Julie, 0:03:20.840 --> 0:03:24.120 Apple's coming off a records heading holiday quarter, but being 0:03:24.160 --> 0:03:30.200 thrust into several months of global economic uncertainty and it's 0:03:30.280 --> 0:03:35.640 paused services in Russia cut off product sales there. How 0:03:35.640 --> 0:03:38.840 do you think these updates will actually drive demand in 0:03:38.880 --> 0:03:42.120 the coming quarters in the context of what's happening happening 0:03:42.200 --> 0:03:45.800 on the macro economic level. Yeah, so I would echo 0:03:45.960 --> 0:03:48.600 what Mark said, when we look at you, when we 0:03:48.640 --> 0:03:50.960 look at so many one percent of consumers United States 0:03:51.080 --> 0:03:53.520 North America already own a smart pophone. So the way 0:03:53.520 --> 0:03:56.320 that you grow shared by taking it from Android, and 0:03:56.400 --> 0:04:00.800 our data shows that of iPhone smartphone owner purchasers in 0:04:00.800 --> 0:04:03.680 the past three months, six percent came from Android devices, 0:04:03.680 --> 0:04:06.640 So it looks like Apple is making progress there. Also 0:04:06.680 --> 0:04:09.880 when we look at households on a tablet today, so 0:04:09.960 --> 0:04:12.960 there's a lot of upside for Apple there. And when 0:04:12.960 --> 0:04:16.560 we look at streaming TV services, we show that consumers 0:04:16.560 --> 0:04:19.040 are watching appwards of four to five hours of streaming 0:04:19.040 --> 0:04:22.920 TV and games each day. Uh. And Apples third today, um, 0:04:22.960 --> 0:04:25.480 with you know Amazon being in first place. So there's 0:04:25.520 --> 0:04:27.640 a lot of upside for Apple as it continues to 0:04:27.640 --> 0:04:31.440 build on its product portfolio, including the services so you know, 0:04:31.680 --> 0:04:34.800 Echo marks comments today. Um. And then certainly the chip 0:04:34.839 --> 0:04:37.560 sets are impressive. That's always going to give them an advantage, 0:04:37.600 --> 0:04:41.720 not just in putting more performance, more power efficient devices 0:04:41.760 --> 0:04:44.719 into smaller and thinner packages. That's always going to be 0:04:44.720 --> 0:04:47.080 a winning formula, but as we look forward into future 0:04:47.120 --> 0:04:50.800 experiences having that kind of power on a device and 0:04:50.880 --> 0:04:53.480 being able to do things like computer vision and speech 0:04:53.520 --> 0:04:57.640 recognition and security facial recognition on device are all very 0:04:57.680 --> 0:05:01.120 powerful attributes of those devices. So, Julie, are you worried 0:05:01.160 --> 0:05:04.040 about consumer demand? Though obviously you know we're worried about 0:05:04.040 --> 0:05:08.080 you know, rising gas prices on top of inflation. Could 0:05:08.080 --> 0:05:11.400 that impact demand for these devices over the next few months. 0:05:12.600 --> 0:05:14.719 So I'm not an economist, so you know, the answer 0:05:14.920 --> 0:05:17.919 is is possibly. We haven't seen a slowdown. You know, 0:05:17.960 --> 0:05:21.000 we all thought the pandemic would impact our spending. That 0:05:21.120 --> 0:05:23.039 was two years ago. That proved to be wrong. So 0:05:23.080 --> 0:05:25.279 we'll not an economist. We don't yet see that in 0:05:25.279 --> 0:05:28.160 our numbers when we looked at consumer's plant purchases over 0:05:28.200 --> 0:05:30.560 the next three to six months. But certainly, you know, 0:05:30.600 --> 0:05:33.000 given what's going on in Ukraine day to day, it's 0:05:33.040 --> 0:05:36.920 hard to have perfect information and mark obviously focusing on 0:05:37.000 --> 0:05:39.000 the day to day. We know that Apple pause product 0:05:39.040 --> 0:05:41.160 sales in Russia. There have been calls from the Ukrainian 0:05:41.160 --> 0:05:43.880 government for Apple to cut off the app store. Are 0:05:43.920 --> 0:05:47.880 you expecting Apple to make any more aggressive moves in 0:05:48.040 --> 0:05:51.840 the region or not? I mean I saw Pepsi, Coca Cola, 0:05:52.000 --> 0:05:56.599 McDonald's and Starbucks today. Really the Lover's Apple pulled in 0:05:56.680 --> 0:05:59.039 Russia are the big ones. They could have done right. 0:05:59.080 --> 0:06:01.040 They could have paused sale, They could have removed some 0:06:01.120 --> 0:06:04.039 of the Russian newsps from external app stores outside of Russia. 0:06:04.360 --> 0:06:07.400 They stopped exports into their sales channels into the country there, 0:06:07.400 --> 0:06:10.000 and did some changes to maps and other services. But 0:06:10.160 --> 0:06:13.159 I think pulling the apps or or disabling. People have 0:06:13.240 --> 0:06:15.640 called for them to disable iPhones in Russia. You know, 0:06:15.720 --> 0:06:18.240 I personally think that would be a gigantic step that 0:06:18.279 --> 0:06:20.360 I don't think the company is ready to take now. 0:06:20.400 --> 0:06:22.880 At the same time, they do have services like Apple Music, 0:06:22.920 --> 0:06:26.040 Apple TV Plus, books and podcasts in Russia, and if 0:06:26.040 --> 0:06:28.279 they were to take those offline, that would match some 0:06:28.360 --> 0:06:30.640 of the moves you're seeing from the Netflix of the 0:06:30.640 --> 0:06:33.960 world that have pulled their service temporarily in Russia. What 0:06:34.000 --> 0:06:36.479 they did do earlier this week is they paused search ads, 0:06:36.480 --> 0:06:39.159 which is their advertising service inside of the app. Sturce 0:06:39.240 --> 0:06:41.479 or developers can no longer sell ads in their store 0:06:42.120 --> 0:06:44.279 in Russia. Will there be more to come? I think 0:06:44.279 --> 0:06:47.520 it's possible, but as of today, they haven't done anything additional. 0:06:48.279 --> 0:06:51.520 Speaking of TV plus, major League Baseball games coming to 0:06:52.120 --> 0:06:55.080 Apple tv Plus, which is super cool, except for the 0:06:55.080 --> 0:06:57.440 fact that MLB and the players are in the middle 0:06:57.440 --> 0:07:00.200 of a lockout and regular season games the first couple 0:07:00.240 --> 0:07:02.960 of weeks have been canceled. No deal in sight at 0:07:03.000 --> 0:07:06.520 this point. Is this something that you think could be 0:07:06.640 --> 0:07:11.720 material to subscriptions to Apple TV Plus or just a 0:07:11.840 --> 0:07:14.320 nice to have? I mean, I'll tell you I'm a 0:07:14.360 --> 0:07:17.360 Laker fan, and I'm sorry if that was for Julie. 0:07:17.600 --> 0:07:20.360 Go ahead, go ahead, Mark, go ahead, Mark, Julie. I'll 0:07:20.400 --> 0:07:23.000 let you get a crack at it too. Okay, I'm 0:07:23.000 --> 0:07:25.680 an NBA fan, you know, first and foremost, not an 0:07:25.800 --> 0:07:28.600 MLB fan, So if this was an NBA related deal, 0:07:28.920 --> 0:07:30.520 maybe it would get me to sign up. We also 0:07:30.560 --> 0:07:32.320 don't know when this is actually going to kick off 0:07:32.400 --> 0:07:35.920 because of the negotiations in the MLB world right now, 0:07:36.480 --> 0:07:38.480 but I do think this is just the first of many. 0:07:38.520 --> 0:07:40.800 We're probably going to see a racing deal. Given some 0:07:41.440 --> 0:07:43.400 Eddie Q their head of services as big into that, 0:07:43.440 --> 0:07:46.200 as is their head of marketing or former head of marketing, 0:07:46.400 --> 0:07:48.680 Phil Schiller. I think we'll see additional sports over time. 0:07:48.720 --> 0:07:51.880 They do have some relationships with the NBA. There's also 0:07:51.920 --> 0:07:55.320 been talking about NFL, so I think two games a 0:07:55.320 --> 0:07:57.800 week on Friday nights is not really going to move 0:07:57.800 --> 0:08:00.320 the needle for Apple TV plus. What the US move 0:08:00.360 --> 0:08:01.720 the needle for me is the fact that they are 0:08:01.760 --> 0:08:04.360 trying to get these deals done, and it's possible you'll 0:08:04.360 --> 0:08:07.640 have one service, Apple TV Plus that has several different 0:08:07.640 --> 0:08:10.360 sports leads all integrated, whereas some of the competitors either 0:08:10.440 --> 0:08:14.400 have only one, two or none at this point. Julie, 0:08:14.480 --> 0:08:16.840 I am a baseball fan, so I'll give you thirty 0:08:16.880 --> 0:08:20.360 seconds you take a swing. How important is mL Yeah, yeah, 0:08:20.400 --> 0:08:22.200 I would echo what Mark said. I think when we 0:08:22.280 --> 0:08:24.320 look at you know, why aren't people cutting the court 0:08:24.400 --> 0:08:28.120 yet from their cable operators, who satellite operators to TV? 0:08:28.240 --> 0:08:30.840 It is because of live sports. I think the question 0:08:30.840 --> 0:08:33.679 that comes into play though, is becoming very fragmented now 0:08:33.720 --> 0:08:36.280 for consumers. I can't just go one place and get 0:08:36.280 --> 0:08:38.199 all the sports that I want, you know, I'm going 0:08:38.240 --> 0:08:41.120 to a lot of different steaming services get Thursday night football, 0:08:41.200 --> 0:08:44.040 Friday night baseball, Sunday night football, whatever it may be. 0:08:44.679 --> 0:08:46.520 And so it's we'll see how it plays out long 0:08:46.640 --> 0:08:49.920 term with consumers. So definitely directly it's the right place 0:08:49.960 --> 0:08:53.240 to go, all right. Jually ask for star Mark German, 0:08:53.800 --> 0:08:56.280 who covers Apple of course from Bloomberg News thank you both. 0:08:57.000 --> 0:09:00.480 More companies joining the growing list of brands assists spending 0:09:00.520 --> 0:09:03.880 operations in Russia amid its invasion of Ukraine. The latest 0:09:03.880 --> 0:09:07.400 now PayPal, which is not the only payments company to 0:09:07.440 --> 0:09:10.640 pull out of the country. MasterCard and Visa announced over 0:09:10.679 --> 0:09:13.720 the weekend they cut off their networks as a result 0:09:13.920 --> 0:09:17.400 of the war coming up. Securing the deal, it is 0:09:17.440 --> 0:09:20.920 the second biggest acquisition ever for Google. Google buying the 0:09:20.920 --> 0:09:24.720 cybersecurity for Mandy and five point four billion dollars, aiming 0:09:24.720 --> 0:09:28.040 to take on Amazon and Microsoft in the cloud. What 0:09:28.040 --> 0:09:45.560 it means next, this is Bloomberg. Google has agreed to 0:09:45.559 --> 0:09:48.360 buy the cybersecurity for mandy And for five point for 0:09:48.640 --> 0:09:51.960 billion dollars cash. It is the company's second biggest deal ever. 0:09:52.240 --> 0:09:54.520 It will give Google more tools to protect its cloud 0:09:54.559 --> 0:09:57.640 clients by responding more quickly to online threats. Joining us 0:09:57.640 --> 0:10:01.120 now are Bloomberg Tech reporter Nico Grant. It covers alphabet 0:10:01.200 --> 0:10:04.520 for US, Nico y Google and not Microsoft, which was 0:10:04.520 --> 0:10:06.520 also in competition for this deal. And what does it 0:10:06.559 --> 0:10:11.320 mean Well, Google is a company that's trying to catch 0:10:11.440 --> 0:10:16.040 up to Microsoft and Amazon in the cloud and also 0:10:16.120 --> 0:10:20.320 when it comes to offering cybersecurity products. Microsoft kicked the 0:10:20.400 --> 0:10:23.920 tires at Mandians and was engaged in talks, and our 0:10:23.960 --> 0:10:27.400 reporting is that more than a week ago Microsoft decided 0:10:27.440 --> 0:10:31.960 to exit the process, not feeling that Mandians business, which 0:10:32.440 --> 0:10:36.880 was so dependent on uh cyber events that happened and 0:10:36.960 --> 0:10:40.680 providing consulting services, Microsoft didn't think that was the best 0:10:41.200 --> 0:10:46.080 strategic fit for its business. Google, meanwhile, has tried to 0:10:46.120 --> 0:10:50.040 take advantage of the environment we're in right now in 0:10:50.080 --> 0:10:54.400 which you have many cyber attacks that are happening. You 0:10:54.480 --> 0:10:59.800 have the war of Russia in Ukraine that is happening. 0:10:59.840 --> 0:11:03.920 That raising the specter and fears even more. And Google 0:11:04.000 --> 0:11:08.280 can say to customers, we can prevent cyber attacks from 0:11:08.280 --> 0:11:11.280 happening in the first place, and if they do, we 0:11:11.360 --> 0:11:14.359 will be best at detecting them and helping you respond 0:11:14.559 --> 0:11:17.360 to them, and then we'll use that knowledge we learn 0:11:17.440 --> 0:11:20.960 to protect all other clients. What impact will this have 0:11:21.120 --> 0:11:24.720 on the cyber defense landscape as we see the number 0:11:24.760 --> 0:11:28.920 of hack attacks tied to the Russia Ukraine evolving conflict, 0:11:29.000 --> 0:11:33.320 continue to wratch it up. Yeah, this is a major 0:11:33.400 --> 0:11:36.280 concern right now, and there have been reports from Google 0:11:36.720 --> 0:11:40.319 as well as others that they've seen many attempts to 0:11:40.800 --> 0:11:45.160 hack Ukrainians and Russians and their organizations as part of 0:11:45.200 --> 0:11:49.520 this UM. This is going to be something that Google 0:11:49.520 --> 0:11:52.880 will say be very helpful for its existing clients who 0:11:52.920 --> 0:11:56.400 may want to try out Mandiant UH and who could 0:11:56.520 --> 0:12:02.960 choose to buy access to Mandians intelligence. Ultimately, Mandant is 0:12:03.160 --> 0:12:06.160 looking at threats all across the web. It's done a 0:12:06.200 --> 0:12:11.600 lot of reporting and research on what Chinese hackers and 0:12:11.840 --> 0:12:16.480 Russian hackers are doing UM and that becomes a big 0:12:16.559 --> 0:12:20.120 part of, you know, the advisory work that they do 0:12:20.360 --> 0:12:23.880 with clients more broadly, and so Mandant will be telling 0:12:23.920 --> 0:12:27.480 customers right now, these are the types of attacks, this 0:12:27.600 --> 0:12:30.280 is how it might happen. Here's what you can learn, 0:12:31.600 --> 0:12:34.120 all right, Nicole Grant, thanks for reporting on that. We'll 0:12:34.120 --> 0:12:37.120 see if that deal in fact closes gets any regulatory 0:12:37.160 --> 0:12:48.839 scrutiny as well. Welcome back to Bluber Technology. Emily Check 0:12:48.840 --> 0:12:51.360 in San Francisco. Well on this international women say, we're 0:12:51.400 --> 0:12:54.040 taking a moment to celebrate how much women have achieved 0:12:54.320 --> 0:12:56.560 and how much work there is left to do. Recent 0:12:56.640 --> 0:12:59.920 data from pitch book shows that so far, in two 0:13:00.400 --> 0:13:03.319 startups with only female founders have snatched just two point 0:13:03.440 --> 0:13:07.400 one percent of venture capital, same as last year. Same 0:13:07.440 --> 0:13:10.319 as I want to bring in Lux Capitals, Dana Shaquier 0:13:10.440 --> 0:13:12.920 for more so, Dina. They've already started compiling the data 0:13:12.960 --> 0:13:15.800 for this year and it's no better than it was 0:13:16.280 --> 0:13:19.559 last year two, which makes no sense, of course, when 0:13:19.559 --> 0:13:24.280 women are half the population, what gives? Well? First of all, 0:13:24.320 --> 0:13:27.040 Happy International Women's Day, Emily, and thank you so much 0:13:27.120 --> 0:13:29.360 for having me and for uh and for bringing this 0:13:29.400 --> 0:13:32.839 important topic to the conversation. I am still hopeful, and 0:13:32.880 --> 0:13:34.800 as I told you last week, I would actually say 0:13:34.840 --> 0:13:38.720 I'm optimistic a f um. The data is not quite 0:13:38.840 --> 0:13:41.920 up to date in terms of where we are for two, 0:13:41.920 --> 0:13:44.200 at least from what I'm seeing, I think there is 0:13:44.240 --> 0:13:48.440 still tremendous opportunity. I have to say, and maybe I'm biased. 0:13:48.440 --> 0:13:52.640 The companies that I'm seeing are not only solo women 0:13:52.760 --> 0:13:56.840 founders who are coming from deeply technical and clinical fields, 0:13:57.240 --> 0:14:00.520 but across the board more diverse than I've ever seen 0:14:00.559 --> 0:14:03.559 in prior years. Things are changing, and I expect the 0:14:03.640 --> 0:14:07.439 data to follow suit. Okay, what about check writers like yoursel? 0:14:07.679 --> 0:14:12.600 Fourteen point three percent of check writers now are women. 0:14:12.679 --> 0:14:15.040 We know that's critical to getting more women and a 0:14:15.040 --> 0:14:18.680 greater diversity of ideas funded. But even that number, I 0:14:18.720 --> 0:14:21.360 believe it's up from like eleven percent a couple of 0:14:21.440 --> 0:14:25.760 years ago. It's moving so slowly, it really is, and 0:14:25.800 --> 0:14:28.120 it's not enough. I we have a long way to go. 0:14:28.200 --> 0:14:31.280 And there is data which Coffin Fellows has published, along 0:14:31.280 --> 0:14:34.240 with a plethora of other data, including from Bloomberg, on 0:14:34.480 --> 0:14:37.920 the importance of cap table diversity, not only in terms 0:14:37.920 --> 0:14:40.720 of founding teams, but on the performance of those teams, 0:14:41.200 --> 0:14:45.480 on the performance of those boards, on revenues, on faster 0:14:45.560 --> 0:14:48.320 time to exit. So this is not about diversity for 0:14:48.400 --> 0:14:51.120 diversity's sake, or even for the sake of a holiday 0:14:51.200 --> 0:14:55.600 like today. It's fundamentally good for business. It's good for investors, 0:14:55.640 --> 0:14:57.720 it's good for LPs, and it's good for our economy. 0:14:57.800 --> 0:15:00.320 So we we really need to move the needle here. 0:15:00.360 --> 0:15:03.360 And I'm again excited to see all of the young 0:15:03.440 --> 0:15:06.200 talent that's coming to the table, people who may not 0:15:06.240 --> 0:15:10.040 have considered a future adventure before. Uh, some of the 0:15:10.120 --> 0:15:12.040 role models that they've had the chance to to see 0:15:12.080 --> 0:15:15.960 elevated in recent years. Well, women can change the world alone. 0:15:16.000 --> 0:15:17.840 We're going to need the help of men and I'm 0:15:17.880 --> 0:15:21.680 curious in the boardroom, are you seeing male investors, male 0:15:21.760 --> 0:15:25.640 check writers more open to women founders or women ideas 0:15:25.920 --> 0:15:28.280 you know? Or is it still the women funding the 0:15:28.760 --> 0:15:33.960 smart breast pump for the women's health tech solution. Not 0:15:34.080 --> 0:15:36.400 only am I seeing investors more open to it, I'm 0:15:36.440 --> 0:15:40.400 actually seeing incredible companies that are innovating for women in 0:15:40.560 --> 0:15:43.400 women's health and in other areas that are founded by men. 0:15:43.960 --> 0:15:46.960 Uh And some of those happened to be in my portfolio, 0:15:47.000 --> 0:15:48.760 and so I do think there's been a tied ship. 0:15:48.880 --> 0:15:52.280 There have been incredibly competitive deals um that that we've 0:15:52.280 --> 0:15:54.000 had the chance to participate in, and many of the 0:15:54.040 --> 0:15:57.400 folks coming to the table are are men, and so 0:15:57.480 --> 0:16:00.200 it's really not a gendered preference here. I think it's 0:16:00.280 --> 0:16:04.320 folks are starting to see that this is fundamentally good 0:16:04.360 --> 0:16:07.520 for the world, good for our economy, and good for 0:16:07.680 --> 0:16:11.440 our investors. What kind of role do you think investors 0:16:11.520 --> 0:16:16.280 have on keeping the pressure on, especially for younger startups 0:16:16.280 --> 0:16:20.320 where you are more involved, making sure they have diverse teams, 0:16:20.360 --> 0:16:23.120 making sure they have women on the board, making sure 0:16:23.160 --> 0:16:26.560 that women are promoted so that they don't become as 0:16:26.920 --> 0:16:30.480 sort of male dominated as the big tech companies that 0:16:30.560 --> 0:16:34.200 have the power today. It's absolutely critical, Emily, and it 0:16:34.240 --> 0:16:36.520 has to start in the earliest days. This is not 0:16:36.640 --> 0:16:38.600 something where you can check the box right before you 0:16:38.600 --> 0:16:41.040 go public and decide to add, uh, you know, a 0:16:41.120 --> 0:16:44.160 quote unquote diverse member to your board, because it's it's 0:16:44.200 --> 0:16:46.840 required at that point. It really does need to be 0:16:46.880 --> 0:16:49.680 baked into the DNA of the company at the sounding stage. 0:16:49.960 --> 0:16:52.320 And again I'm seeing that happening even in new co 0:16:52.520 --> 0:16:55.720 creation in terms of the first hires, in terms of 0:16:55.720 --> 0:16:59.920 thoughtful founders who recognize the importance of that around the 0:17:00.040 --> 0:17:02.320 board room and around the cap table as well. It's 0:17:02.480 --> 0:17:04.960 very difficult to do it thoughtfully if you wait too long. 0:17:05.880 --> 0:17:10.760 Women make up thirty thirty five percent of employees at 0:17:10.760 --> 0:17:13.840 big tech companies, but it's much smaller when you look 0:17:13.880 --> 0:17:17.880 at those prime technical roles, about of those top tech 0:17:18.400 --> 0:17:23.000 engineering roles, you know it's going to take years, decades 0:17:23.040 --> 0:17:25.920 maybe for some of these bigger companies to change. It's 0:17:25.960 --> 0:17:30.520 like trying to turn the Titanic. How optimistic are you 0:17:30.600 --> 0:17:35.560 for the next generation of bigger tech companies? Are we 0:17:35.640 --> 0:17:39.000 on the right trajectory? You know? Well, speaking of data 0:17:39.040 --> 0:17:40.960 and ten years it was ten years ago when I 0:17:41.000 --> 0:17:44.479 was at Google and they first released their diversity numbers 0:17:44.480 --> 0:17:46.639 when it's specifically when it comes to women in computer 0:17:46.680 --> 0:17:50.720 science and technical roles, and they were dismal and uh. 0:17:50.960 --> 0:17:54.160 Following Google, a number of the other large fangs also 0:17:54.240 --> 0:17:57.200 released their numbers, and there were myriad efforts to address 0:17:57.280 --> 0:18:00.679 the gender gap, starting in element free school. I mean, 0:18:00.720 --> 0:18:02.879 we know now that these kind of biases and self 0:18:02.880 --> 0:18:06.479 perceptions can be formed as early as eighteen months of age. 0:18:06.720 --> 0:18:09.600 So it's not something that will move immediately and quickly. 0:18:09.680 --> 0:18:13.560 It's it's not that easy to generate, you know, multiple 0:18:13.600 --> 0:18:17.920 PhDs overnight. We have to start that early and that young. 0:18:18.000 --> 0:18:21.080 We have to see characters in TV shows that you 0:18:21.119 --> 0:18:25.360 know are excellent engineers and happen to be women, not 0:18:25.520 --> 0:18:28.680 exceptional because they are women. We need to see those 0:18:28.720 --> 0:18:33.159 types of role models on Bloomberg Tech, which you do constantly. 0:18:33.200 --> 0:18:36.040 These this type of representation is absolutely critical and I 0:18:36.080 --> 0:18:39.120 think that we'll see that precipitate over time in terms 0:18:39.119 --> 0:18:41.400 of the numbers. It won't happen quickly, but it can't 0:18:41.400 --> 0:18:44.919 happen quickly enough. We try, but all of us, even us, 0:18:44.960 --> 0:18:47.159 can certainly do better. I want to ask about some 0:18:47.200 --> 0:18:50.120 of the most rapidly growing parts of the tech economy 0:18:50.160 --> 0:18:54.840 Crypto Web three, for example, do you see um women 0:18:55.560 --> 0:18:57.159 you know, taking a fair share of the pie and 0:18:57.200 --> 0:18:59.800 some of these versioning industries, because I think the narrative 0:18:59.840 --> 0:19:03.600 is that some of these new uh new tech sub 0:19:03.680 --> 0:19:07.719 industries are still quite male dominant. Quickly in many cases 0:19:07.760 --> 0:19:10.720 they are, but there are incredible organizations coming to the table, 0:19:10.840 --> 0:19:13.119 like my BFF that are working to change that, like 0:19:13.320 --> 0:19:15.479 Women in the World, and like our new partner at 0:19:15.520 --> 0:19:18.200 Lux Grace who's focused on Web three among other things. 0:19:19.920 --> 0:19:22.919 All right, Tana Shaquire Lux Capital partner, thank you for 0:19:23.000 --> 0:19:25.920 bringing your optimism to us. I want to soak a 0:19:25.960 --> 0:19:27.840 little bit of that up and take that with me 0:19:28.280 --> 0:19:31.040 for the rest of this Internactual Women's Day coming up. 0:19:31.480 --> 0:19:34.399 As Web three is becoming a new focus for many companies. 0:19:34.480 --> 0:19:38.040 One blockchain project known as the Google of DeFi a 0:19:38.160 --> 0:19:41.600 k A. The Graph is gaining momentum. We'll have more 0:19:41.640 --> 0:19:51.480 on that next. This is Bloomberg time for our crypto report. 0:19:51.480 --> 0:19:54.600 Now Russia's invasion of Ukraine and its potential long lasting 0:19:54.680 --> 0:19:56.280 impacts that I want to bring in our next guest, 0:19:56.280 --> 0:19:58.440 he can climb the co founder and head of business 0:19:58.560 --> 0:20:01.040 at Edge and know the t behind the Graph, which 0:20:01.080 --> 0:20:04.439 brands itself as the Google of the defied world. This 0:20:04.520 --> 0:20:07.680 is an indexing and Corey protocol organizing the world's open 0:20:07.720 --> 0:20:11.679 blockchain data and making open data a public good. Taken, 0:20:11.720 --> 0:20:14.160 Thanks so much for joining us. So I'm curious how 0:20:14.200 --> 0:20:16.719 you would describe the mission of the graph and how 0:20:16.720 --> 0:20:19.440 do you make sure it doesn't become a centralized space 0:20:20.000 --> 0:20:25.040 for a space that wants to be decentralized. Absolutely. Yeah, 0:20:25.080 --> 0:20:26.600 So the Graph is on a mission to make all 0:20:26.640 --> 0:20:30.320 of the world's public data verifiable UM and the Graph 0:20:30.359 --> 0:20:33.760 is organizing all of on chain Web three data. So 0:20:33.880 --> 0:20:35.840 kind of like what Google does for the traditional web, 0:20:35.840 --> 0:20:37.639 the Graph does for the Web three space. And it 0:20:37.720 --> 0:20:39.679 is a public good and it has been built in 0:20:39.680 --> 0:20:42.840 its decentralized ways. There are many notes around the world 0:20:42.840 --> 0:20:46.440 that operate within the Graph ecosystem and many different contributors, 0:20:46.880 --> 0:20:51.159 so there's no central point of authority within the Graph network. More, 0:20:51.320 --> 0:20:55.040 what is the data then telling you? Taken about sorry shnally, 0:20:55.160 --> 0:20:58.760 what is the data telling you about the what's going 0:20:58.800 --> 0:21:02.840 on in the macro an environment right now? Obviously we're 0:21:02.880 --> 0:21:06.720 really concerned about what this means for traditional assets. Bitcoin 0:21:06.800 --> 0:21:09.320 is sort of a non traditional assets. Some thought it 0:21:09.320 --> 0:21:12.680 would be a safe haven, but Ashinali was talking about earlier, 0:21:12.800 --> 0:21:17.560 it's been very volatile like everything else. Yeah, so macro 0:21:18.160 --> 0:21:21.119 has definitely been impacting short term trading um. It's definitely 0:21:21.160 --> 0:21:23.840 been impacting the crypto markets. But in my opinion, that's 0:21:23.880 --> 0:21:26.679 quite short sighted, and I think based on some of 0:21:26.680 --> 0:21:29.679 the unfortunate current events that we're seeing in the world. 0:21:30.240 --> 0:21:33.000 You know, it's very clear why crypto is very important. 0:21:33.080 --> 0:21:36.600 Situations in Ukraine, Russia, Canada, people really can't get acts, 0:21:36.640 --> 0:21:39.159 they can't get money into Ukraine. Money have had to 0:21:39.200 --> 0:21:42.920 flee and leave their belongings at home in Ukraine. In Russia, 0:21:43.000 --> 0:21:45.760 people can't get paid. The Central Bank of Russia might 0:21:45.800 --> 0:21:49.280 also get their assets frozen. And so crypto self sovereignty 0:21:49.320 --> 0:21:52.600 really solves for this. But the markets kind of do 0:21:52.640 --> 0:21:55.120 their thing, and we're really focused on building and so 0:21:55.480 --> 0:21:59.040 the developer activity has not stalled, it's not declined. It's 0:21:59.040 --> 0:22:01.560 actually at an all time I and it's growing faster 0:22:01.640 --> 0:22:04.840 than it ever has before. An Electric Capital, they put 0:22:04.880 --> 0:22:07.920 out a dev report that showed over eighteen thou open 0:22:07.920 --> 0:22:11.000 source STAPs joined the space and joined the Web three space. 0:22:12.160 --> 0:22:14.920 So that's up, and that's in line with what we've 0:22:14.920 --> 0:22:17.920 seen within the graph ecosystem. They're over twenty eight thousand 0:22:17.920 --> 0:22:20.760 developers building on the graph today. Well as more developers 0:22:20.880 --> 0:22:23.640 build on the graph and as more people, ordinary people 0:22:23.640 --> 0:22:27.399 who have never transacted in bitcoin before or crypto for 0:22:27.440 --> 0:22:31.560 that matter, start to use the cryptocurrencies, do you think 0:22:31.640 --> 0:22:35.639 that centralization serves more of a purpose and verification is 0:22:35.680 --> 0:22:39.920 more important. I think decentralization is crucial, So you need 0:22:40.000 --> 0:22:44.800 to decentralize not just ownership, but power, decision making, control, 0:22:45.440 --> 0:22:47.960