1 00:00:02,279 --> 00:00:05,640 Speaker 1: From the heart of where innovation, money and power collive 2 00:00:06,400 --> 00:00:10,960 Speaker 1: in Silicon Valley and beyond. This is Bloomberg Technology with 3 00:00:11,000 --> 00:00:27,159 Speaker 1: Emily jay My Emily checking in San Francisco, and this 4 00:00:27,200 --> 00:00:29,760 Speaker 1: is Bloomberg Technology coming up in the next hour. Big 5 00:00:29,800 --> 00:00:33,199 Speaker 1: tech docks continue to sink, the Nasdaq one hundred dropping 6 00:00:33,760 --> 00:00:37,000 Speaker 1: more than three percent, dragged down by Amazon, and Tesla 7 00:00:37,479 --> 00:00:39,920 Speaker 1: is on top of a big Bloomberg scoop that Tesla 8 00:00:40,040 --> 00:00:43,240 Speaker 1: just laid off hundreds of autopilot workers in another round 9 00:00:43,320 --> 00:00:46,240 Speaker 1: of job cuts. We will bring you all the details 10 00:00:46,960 --> 00:00:50,040 Speaker 1: and we'll be joined by the most decorated US track 11 00:00:50,080 --> 00:00:53,720 Speaker 1: and field athletes of all time. Olympic medalist Alison Felix 12 00:00:53,800 --> 00:00:56,480 Speaker 1: joins us to talk about her tech and investing play 13 00:00:56,760 --> 00:00:59,120 Speaker 1: and how she plans to continue to fight for women 14 00:00:59,320 --> 00:01:03,240 Speaker 1: and mom as she plots her retirement from professional sports. 15 00:01:04,280 --> 00:01:07,000 Speaker 1: And it is the new TikTok for kids and it's 16 00:01:07,040 --> 00:01:09,039 Speaker 1: got the backing of the NBA. We'll talk to the 17 00:01:09,040 --> 00:01:11,880 Speaker 1: head of the social network Zigazoo about their plans for 18 00:01:11,959 --> 00:01:16,040 Speaker 1: kids and the metaverse later this hour. Meantime, Tesla is 19 00:01:16,120 --> 00:01:20,320 Speaker 1: laying off more people, hundreds of workers on its autopilot team, 20 00:01:20,440 --> 00:01:23,160 Speaker 1: specifically joining us now from more on this our own 21 00:01:23,240 --> 00:01:25,479 Speaker 1: ed Ludlow who broke this story. So what are we now? YEA, 22 00:01:25,600 --> 00:01:28,280 Speaker 1: So in the last few hours, Tesla has shotted a 23 00:01:28,360 --> 00:01:32,479 Speaker 1: facility in San Mateo where there were data scientists, data 24 00:01:32,560 --> 00:01:35,160 Speaker 1: engineers working on autopilot and basically what the team is 25 00:01:35,240 --> 00:01:38,920 Speaker 1: doing is taking the video footage right from Tesla owners 26 00:01:38,959 --> 00:01:41,760 Speaker 1: all around the world who have a camera based system 27 00:01:41,840 --> 00:01:45,319 Speaker 1: and annotating it, adding in data to help train the 28 00:01:45,360 --> 00:01:49,160 Speaker 1: algorithms that improve future use cases like full self driving, 29 00:01:49,200 --> 00:01:53,160 Speaker 1: but improve the autopilot functionality. According to sources, they started 30 00:01:53,160 --> 00:01:56,320 Speaker 1: with managers in the morning and by the afternoon they 31 00:01:56,360 --> 00:01:59,160 Speaker 1: laid off large the entire facility, which I'm told by 32 00:01:59,200 --> 00:02:05,160 Speaker 1: one sources fifty people. So does this change Tesla's priorities 33 00:02:05,160 --> 00:02:07,640 Speaker 1: for autopilot? What is this? You know, it's interesting. It 34 00:02:07,680 --> 00:02:10,240 Speaker 1: could be perceived as a negative headline, but we know 35 00:02:10,360 --> 00:02:12,560 Speaker 1: that there is a round of layoffs going on around 36 00:02:12,560 --> 00:02:15,280 Speaker 1: the world globally. Elon must confirmed to Bloomberg last week 37 00:02:15,280 --> 00:02:19,000 Speaker 1: and that exclusive interview that it's ten percent of salaried 38 00:02:19,040 --> 00:02:21,519 Speaker 1: workers only. So this is part of that ten percent, 39 00:02:21,639 --> 00:02:24,239 Speaker 1: not in additional round, right. I think what's interesting is 40 00:02:24,280 --> 00:02:28,320 Speaker 1: that autopilot, real focus on AI, a real focus on software. 41 00:02:28,680 --> 00:02:30,480 Speaker 1: We know that it's been an area of priority in 42 00:02:30,520 --> 00:02:33,960 Speaker 1: terms of hiring for Tesla, especially one Elon Must has 43 00:02:33,960 --> 00:02:37,680 Speaker 1: talked about the importance of data labeling and our engineering 44 00:02:37,680 --> 00:02:39,600 Speaker 1: fans out there self forre engining fans and know exactly 45 00:02:39,639 --> 00:02:41,800 Speaker 1: what I'm talking about. But it just grew too quickly. 46 00:02:41,880 --> 00:02:44,560 Speaker 1: And as Elon Must pointed out to us, hourly workers, 47 00:02:44,600 --> 00:02:46,520 Speaker 1: the folks on the assembly lines all around the world 48 00:02:46,520 --> 00:02:50,080 Speaker 1: building vehicles, building batteries, those he expects to increase. So 49 00:02:50,120 --> 00:02:52,880 Speaker 1: even though it's a ten percent production of salaried it's 50 00:02:52,919 --> 00:02:54,600 Speaker 1: kind of more like a three point five overall. So 51 00:02:54,639 --> 00:02:56,120 Speaker 1: do we know where else the cuts are going to 52 00:02:56,160 --> 00:02:57,639 Speaker 1: come from? And I mean, how is this impact in 53 00:02:57,680 --> 00:03:01,079 Speaker 1: the workforce? Is everybody just bracing themselves, you know, talk 54 00:03:01,160 --> 00:03:03,800 Speaker 1: to a lot of sources who and in some cases, 55 00:03:03,840 --> 00:03:05,880 Speaker 1: similar to what's happened, was a pilot. The writing was 56 00:03:05,960 --> 00:03:07,519 Speaker 1: kind of on the wall. They were parts of those 57 00:03:07,520 --> 00:03:11,120 Speaker 1: teams where loads of folks were hired very quickly. Donna 58 00:03:11,160 --> 00:03:13,760 Speaker 1: Holt that had that fantastic column the other day about 59 00:03:13,760 --> 00:03:16,000 Speaker 1: how in some cases people were laid off who had 60 00:03:16,040 --> 00:03:17,800 Speaker 1: only been there for a few weeks, They've moved across 61 00:03:17,800 --> 00:03:20,240 Speaker 1: the country to Austin, worked for a few weeks and 62 00:03:20,280 --> 00:03:22,760 Speaker 1: lost their jobs. These are hard things, but it's the 63 00:03:22,800 --> 00:03:26,480 Speaker 1: reality in a global situation of a human tool on 64 00:03:26,600 --> 00:03:29,200 Speaker 1: the autopilot team. Okay, and I know you're gonna be 65 00:03:29,200 --> 00:03:30,680 Speaker 1: with us a little bit later at this hour, but 66 00:03:30,760 --> 00:03:32,840 Speaker 1: thank you, great scoop. I want to get back to 67 00:03:33,040 --> 00:03:35,960 Speaker 1: the tech route though, and bringing Mark Mheney of ever 68 00:03:36,080 --> 00:03:39,880 Speaker 1: Core Mark. Obviously, the numbers down. These stories from companies 69 00:03:39,880 --> 00:03:43,280 Speaker 1: like Tesla don't help Amazon, which I know, of course 70 00:03:43,440 --> 00:03:47,280 Speaker 1: you cover also driving um the news today. What are 71 00:03:47,320 --> 00:03:49,920 Speaker 1: your big takeaways right now? Should investors be getting in 72 00:03:50,040 --> 00:03:52,760 Speaker 1: or out? We still have recessionary risk in these stocks, 73 00:03:52,800 --> 00:03:55,920 Speaker 1: so last Friday we lowered numbers by about ten percent 74 00:03:56,240 --> 00:03:59,560 Speaker 1: for Amazon. My guess is that most consumer tech stocks 75 00:03:59,640 --> 00:04:02,960 Speaker 1: need that kind of magnitude of haircut to earnings. I 76 00:04:02,960 --> 00:04:04,360 Speaker 1: think you're gonna get that as we go through this 77 00:04:04,400 --> 00:04:06,720 Speaker 1: earning cycle. You need that. You need earnings to come 78 00:04:06,760 --> 00:04:10,320 Speaker 1: down because of processionary risk, and then you need inflationary 79 00:04:10,440 --> 00:04:13,240 Speaker 1: forces to start ameliorating, or you need to see the 80 00:04:13,240 --> 00:04:15,560 Speaker 1: first evidence that inflation is coming down. You didn't see 81 00:04:15,560 --> 00:04:17,840 Speaker 1: that with the last CPI report. Hopefully you will see 82 00:04:17,839 --> 00:04:19,960 Speaker 1: that with the next one. You get those two things, 83 00:04:19,960 --> 00:04:22,520 Speaker 1: and then tech stocks may the highest quality will be 84 00:04:22,560 --> 00:04:24,640 Speaker 1: safe to get in and by. I don't think they're 85 00:04:24,640 --> 00:04:26,400 Speaker 1: safe to get in and by until you see both 86 00:04:26,400 --> 00:04:28,560 Speaker 1: of those things happen. What about a company like Meta, 87 00:04:28,640 --> 00:04:31,120 Speaker 1: which has dropped so much that folks are starting to 88 00:04:31,120 --> 00:04:33,440 Speaker 1: think about it as a value stock. I mean, are 89 00:04:33,440 --> 00:04:36,880 Speaker 1: we going to see Warren Buffett getting into Facebook? That's 90 00:04:36,880 --> 00:04:39,279 Speaker 1: an intriguing idea. Maybe. Look, there's some very high free 91 00:04:39,320 --> 00:04:43,279 Speaker 1: cash flow yields now in the group, so names like Facebook, Google, 92 00:04:43,720 --> 00:04:47,040 Speaker 1: Booking Expedient that they offer five, six, seven, eight percent 93 00:04:47,120 --> 00:04:49,960 Speaker 1: free cash flow yields. You haven't seen that in this 94 00:04:50,040 --> 00:04:52,280 Speaker 1: group in a long time. Google is on a multiple 95 00:04:52,320 --> 00:04:55,039 Speaker 1: basis or alphabet I'm sorry, on a multiple basis is 96 00:04:55,080 --> 00:04:58,240 Speaker 1: the lowest it's been in you know, about ten years, 97 00:04:58,240 --> 00:05:00,599 Speaker 1: not since the Great Financial Crisis. Amazon on is sitting 98 00:05:00,600 --> 00:05:02,760 Speaker 1: at a multiple vets as low as it's been since 99 00:05:02,800 --> 00:05:05,599 Speaker 1: the Great Financial Crisis. And Amazon is a stronger asset 100 00:05:05,600 --> 00:05:07,360 Speaker 1: than it was back then. It's got cloud computing. It 101 00:05:07,360 --> 00:05:09,640 Speaker 1: didn't have that back then. So I think the valuations 102 00:05:09,680 --> 00:05:12,440 Speaker 1: are highly attractive but numbers first need to be reset, 103 00:05:12,520 --> 00:05:15,120 Speaker 1: So valuations aren't quint as attractive. Just kind of take 104 00:05:15,200 --> 00:05:18,160 Speaker 1: the multiples at a point or two to them. Those 105 00:05:18,200 --> 00:05:21,800 Speaker 1: are probably the real multiples on recession estimates. And so 106 00:05:21,880 --> 00:05:23,640 Speaker 1: you first need getting you need the cuts, and then 107 00:05:23,640 --> 00:05:25,720 Speaker 1: you also need this signs that inflation is going to 108 00:05:25,800 --> 00:05:26,960 Speaker 1: come down. And one thing that came out of the 109 00:05:26,960 --> 00:05:31,720 Speaker 1: consumer survey today was that consumers fear the consumers inflationary 110 00:05:31,760 --> 00:05:33,880 Speaker 1: concerns are at the highest in the decade. Mark. You 111 00:05:33,960 --> 00:05:37,280 Speaker 1: also cover Pinterest, So curious what you think about this news. 112 00:05:37,480 --> 00:05:42,200 Speaker 1: Ben Silverman, CEO and co founder stepping down. Obviously, we 113 00:05:42,240 --> 00:05:45,520 Speaker 1: know pinterest has been battling some cultural and workplace issues, 114 00:05:45,560 --> 00:05:48,919 Speaker 1: but also some growth issues. Bill Ready, who is a 115 00:05:48,960 --> 00:05:54,120 Speaker 1: long time payments guy worked at Braintree, PayPal, now Google. 116 00:05:54,320 --> 00:05:57,960 Speaker 1: He's coming in as CEO. What's your read on this, Well, 117 00:05:58,000 --> 00:06:00,880 Speaker 1: this sounds looks to me like a pretty drastic step, 118 00:06:00,960 --> 00:06:03,840 Speaker 1: you know, especially if you don't bring somebody in internally 119 00:06:04,000 --> 00:06:06,039 Speaker 1: within the company to take over. If you're bringing somebody 120 00:06:06,040 --> 00:06:08,680 Speaker 1: from outside the company in, you're just throwing a lot 121 00:06:08,760 --> 00:06:11,240 Speaker 1: of uncertainty in the in the Pinterest and into the 122 00:06:11,240 --> 00:06:13,680 Speaker 1: management team, into the employee base, So I know the 123 00:06:13,680 --> 00:06:16,200 Speaker 1: stock gaped up in the aftermarket that sort of investors 124 00:06:16,200 --> 00:06:19,160 Speaker 1: were looking for any change right now for US pinterests 125 00:06:19,240 --> 00:06:21,839 Speaker 1: or on the sidelines on we're not buyers at the stock. 126 00:06:21,920 --> 00:06:24,279 Speaker 1: Even though the stock has corrected a lot, user base 127 00:06:24,320 --> 00:06:26,400 Speaker 1: has been declining. Unless the user base can grow, I 128 00:06:26,440 --> 00:06:28,719 Speaker 1: don't think that that pinterest can work as the stock. 129 00:06:28,880 --> 00:06:30,919 Speaker 1: I think you want to be careful about the pinterest. 130 00:06:30,960 --> 00:06:32,600 Speaker 1: I know the stock has gotten a lot more interesting 131 00:06:32,680 --> 00:06:36,400 Speaker 1: valuation rise, but until you get growth in users to recover, 132 00:06:36,520 --> 00:06:38,479 Speaker 1: I don't think you can. I don't think it's investable. 133 00:06:38,560 --> 00:06:40,920 Speaker 1: So all the companies that you cover as we're going 134 00:06:40,960 --> 00:06:44,080 Speaker 1: into a recession, which are you most cautious on? I mean, 135 00:06:44,160 --> 00:06:47,240 Speaker 1: is it Amazon given the consumers? Is it is it 136 00:06:47,360 --> 00:06:50,400 Speaker 1: Netflix given you know them trying to rework the subscription 137 00:06:50,440 --> 00:06:54,800 Speaker 1: model and get into advertising. Where are your biggest concerns 138 00:06:55,160 --> 00:06:58,920 Speaker 1: in consumer Internet? There's nothing that's recession proof across consumer tech. 139 00:06:58,960 --> 00:07:01,160 Speaker 1: There's nothing that's session proof. I think we just need 140 00:07:01,200 --> 00:07:03,320 Speaker 1: to remember that. That said that, there are there are 141 00:07:03,360 --> 00:07:05,800 Speaker 1: assets that are more recession resistant than other Google is 142 00:07:05,800 --> 00:07:09,120 Speaker 1: probably one of the most recession resistant companies that I 143 00:07:09,160 --> 00:07:11,200 Speaker 1: cover because it's search advertising, which will be the last 144 00:07:11,200 --> 00:07:13,480 Speaker 1: part of advertising to get cut. And then it also 145 00:07:13,560 --> 00:07:16,680 Speaker 1: has cloud computing, and cloud computing is as close to 146 00:07:16,720 --> 00:07:19,480 Speaker 1: recession proof of the business because it generates cost savings 147 00:07:19,480 --> 00:07:22,800 Speaker 1: for the companies that deploy cloud computing. So Google strikes 148 00:07:22,840 --> 00:07:24,560 Speaker 1: me as having the least risk to estimates, but it 149 00:07:24,560 --> 00:07:26,680 Speaker 1: could still be a mid single digit percent cut to 150 00:07:26,800 --> 00:07:30,160 Speaker 1: estimates because all advertising will get cut in a in 151 00:07:30,200 --> 00:07:32,200 Speaker 1: a recession, it depends on the severity of the recession. 152 00:07:32,440 --> 00:07:34,640 Speaker 1: The most impact that are going to be companies that 153 00:07:34,720 --> 00:07:37,920 Speaker 1: are exposed to the most discretionary parts of consumer spend, 154 00:07:38,040 --> 00:07:40,880 Speaker 1: so that's retail and then retail I think about eBay, 155 00:07:40,920 --> 00:07:43,080 Speaker 1: I think about etc. I think about Shopify, that are 156 00:07:43,120 --> 00:07:48,160 Speaker 1: purely discretionary spend. Those probably faced the biggest potential estimates cuts. 157 00:07:48,360 --> 00:07:50,480 Speaker 1: Amazon is probably in the middle, and we just cut 158 00:07:50,480 --> 00:07:53,480 Speaker 1: those estimates by ten percent. So that helps you figure out, 159 00:07:53,640 --> 00:07:56,280 Speaker 1: you know, five percent cut to estimates for the for 160 00:07:56,320 --> 00:08:01,360 Speaker 1: the most recession resistant and fient for the most recession impacted, 161 00:08:01,440 --> 00:08:03,960 Speaker 1: and that was going to be the heavily consumer discussionary names. 162 00:08:04,120 --> 00:08:06,480 Speaker 1: All right, well, thanks for helping us try to make 163 00:08:06,520 --> 00:08:09,440 Speaker 1: sense of it all. On another down day with more layoffs. 164 00:08:09,520 --> 00:08:12,480 Speaker 1: Mark Mheney of ever Cores in London glad we were 165 00:08:12,480 --> 00:08:15,480 Speaker 1: able to catch it. Coming up the rise in cyber attacks, 166 00:08:15,480 --> 00:08:18,360 Speaker 1: we're going to talk about the largest online attack ever 167 00:08:18,640 --> 00:08:23,200 Speaker 1: recorded and cloud Flares role in thwarting it. Matthew Prince 168 00:08:23,320 --> 00:08:40,720 Speaker 1: with us next. This is Blue Work, a development in 169 00:08:40,720 --> 00:08:43,400 Speaker 1: the case of a ransomware gang that recruited a former 170 00:08:43,520 --> 00:08:47,840 Speaker 1: Canadian government employee. That employee has agreed to plead guilty 171 00:08:47,880 --> 00:08:50,559 Speaker 1: in the United States two charges. He worked with the 172 00:08:50,600 --> 00:08:53,840 Speaker 1: digital extortion group net Walker, helping to rack up almost 173 00:08:53,920 --> 00:08:57,040 Speaker 1: fifty million dollars in illegal payment. So for the last 174 00:08:57,040 --> 00:09:02,160 Speaker 1: two years, hospitals, law enforcement organization, in schools, colleges, universities 175 00:09:02,240 --> 00:09:05,480 Speaker 1: all were targeted in these ongoing attacks, according to the FBI. 176 00:09:05,920 --> 00:09:09,959 Speaker 1: Blue Works. Jeff Stone joins us now with all the details. So, Jeff, 177 00:09:10,000 --> 00:09:13,880 Speaker 1: this is a fairly unusual case. What makes it so unique? Yes, 178 00:09:13,960 --> 00:09:16,079 Speaker 1: thank you for having the Emily. What makes this case 179 00:09:16,320 --> 00:09:18,480 Speaker 1: particularly unusual is that we know a lot of these 180 00:09:18,559 --> 00:09:22,720 Speaker 1: ransomware hackers. Accused. Ransomware hackers are typically based in Russia 181 00:09:22,920 --> 00:09:25,800 Speaker 1: or in Eastern Europe, outside of the reach of US 182 00:09:25,840 --> 00:09:28,679 Speaker 1: law enforcement, where they won't be extradited. In this case. 183 00:09:28,720 --> 00:09:33,280 Speaker 1: It was a Canadian government employee who was from Quebec actually, 184 00:09:33,400 --> 00:09:36,720 Speaker 1: and he has agreed to plead guilty in UM a 185 00:09:36,800 --> 00:09:41,000 Speaker 1: Tampa courtroom this afternoon, well within the reach of US prosecutors. Obviously. 186 00:09:41,120 --> 00:09:45,400 Speaker 1: How did he get involved unclear. He is a former 187 00:09:45,440 --> 00:09:49,240 Speaker 1: government employee. He worked for a federal agency until January 188 00:09:49,320 --> 00:09:53,080 Speaker 1: that helped the government secure real estate. Before that, he 189 00:09:53,120 --> 00:09:56,520 Speaker 1: appears to have had a conviction in a Canadian courtroom 190 00:09:56,920 --> 00:10:00,200 Speaker 1: for a drug related offense, but the exact nature of 191 00:10:00,320 --> 00:10:04,079 Speaker 1: his actual involvement with the group still is not quite clear. 192 00:10:04,160 --> 00:10:07,080 Speaker 1: Heat may have been involved, it appears based on court 193 00:10:07,120 --> 00:10:09,719 Speaker 1: documents with some of the money laundering aspects of this organization. 194 00:10:10,320 --> 00:10:13,560 Speaker 1: So we're talking forty six million dollars in ransomware payments here. 195 00:10:13,600 --> 00:10:16,079 Speaker 1: How big a dent in this in the broader scheme 196 00:10:16,200 --> 00:10:19,440 Speaker 1: of all of the ransomware attacks happening around the world, 197 00:10:19,800 --> 00:10:24,199 Speaker 1: not huge ransom the ransomware picture is much larger. Netwalker 198 00:10:24,240 --> 00:10:27,040 Speaker 1: based on figures that we've obtained, UM is probably in 199 00:10:27,040 --> 00:10:30,160 Speaker 1: the top five largest groups, probably number four or five 200 00:10:30,280 --> 00:10:34,080 Speaker 1: within that figure though. UM. What is particularly meaningful about 201 00:10:34,120 --> 00:10:36,439 Speaker 1: this case and this group is that They have been 202 00:10:36,480 --> 00:10:39,600 Speaker 1: specifically focused since the beginning of the COVID nineteen pandemic 203 00:10:39,679 --> 00:10:44,800 Speaker 1: on hospitals, healthcare organizations, medical facilities, and really schools in 204 00:10:44,840 --> 00:10:46,960 Speaker 1: trying to kind of knock them offline in order to 205 00:10:47,520 --> 00:10:49,920 Speaker 1: um earn as much of a profit as they possibly 206 00:10:49,960 --> 00:10:52,559 Speaker 1: kind in a short amount of time. Interesting alright, A 207 00:10:52,600 --> 00:10:56,680 Speaker 1: case will continue to follow Bloomberg's just Stone. Meantime. Cloud 208 00:10:56,800 --> 00:11:00,360 Speaker 1: Flare says it helped for the biggest online attack ever 209 00:11:00,440 --> 00:11:05,840 Speaker 1: recorded on June fourteenth, without ever getting a human involved. Still, 210 00:11:05,880 --> 00:11:09,120 Speaker 1: the company warrants these attacks are getting more sophisticated every day. 211 00:11:09,360 --> 00:11:11,480 Speaker 1: I'm joined now by cloud Flair CEO and co founder 212 00:11:11,520 --> 00:11:13,520 Speaker 1: Matthew Prince. Matthew, great to have you back. So tell 213 00:11:13,600 --> 00:11:16,480 Speaker 1: us about this attack and how you stopped it. Yeah, 214 00:11:16,520 --> 00:11:19,360 Speaker 1: you know, every day, cloud Flaire, we're stopping attacks, And 215 00:11:19,360 --> 00:11:21,720 Speaker 1: I think what was unique about this one in June 216 00:11:22,200 --> 00:11:25,800 Speaker 1: was it took to a different level the size and 217 00:11:25,920 --> 00:11:29,120 Speaker 1: scale of attacks and instead of compromising a bunch of 218 00:11:29,360 --> 00:11:35,199 Speaker 1: household cameras and IoT devices, especially compromising cloud instances. Uh. 219 00:11:35,200 --> 00:11:37,160 Speaker 1: And that that's a worrying new trend because each of 220 00:11:37,160 --> 00:11:40,720 Speaker 1: those cloud instances obviously has a lot larger bandwidth and 221 00:11:40,760 --> 00:11:42,840 Speaker 1: can do a lot more damage. And so I think 222 00:11:42,920 --> 00:11:45,559 Speaker 1: we have seen an uptick in these attacks we've seen 223 00:11:45,840 --> 00:11:49,000 Speaker 1: taking the size and scale that's going on. But what 224 00:11:49,080 --> 00:11:51,040 Speaker 1: I'm really proud of our team is that we can 225 00:11:51,120 --> 00:11:53,960 Speaker 1: stop just about anything which is which is thrown at us, 226 00:11:54,000 --> 00:11:56,280 Speaker 1: and we continue to do that every single day. So 227 00:11:56,320 --> 00:11:58,240 Speaker 1: it sounds like you're saying the attacks are only going 228 00:11:58,280 --> 00:12:02,760 Speaker 1: to get bigger. How you know, dangerous is the threat 229 00:12:02,840 --> 00:12:05,520 Speaker 1: landscape you see ahead? What's the role of the ongoing 230 00:12:06,000 --> 00:12:09,400 Speaker 1: Russia Ukraine war? You know, I think that we as 231 00:12:09,520 --> 00:12:13,120 Speaker 1: as an industry really expected that attacks would tick up 232 00:12:13,160 --> 00:12:17,240 Speaker 1: immediately after the Russian invasion of Ukraine. And while we 233 00:12:17,280 --> 00:12:21,360 Speaker 1: did see some attacks specifically targeting Ukrainian infrastructure, the number 234 00:12:21,400 --> 00:12:24,840 Speaker 1: of attacks was actually much less than we would see 235 00:12:25,040 --> 00:12:28,319 Speaker 1: in in sort of a usual UH sort of time, 236 00:12:28,760 --> 00:12:31,320 Speaker 1: which is that well, I think a lot of it 237 00:12:31,360 --> 00:12:34,240 Speaker 1: was a lot of the attacks came from criminal gangs 238 00:12:34,280 --> 00:12:38,360 Speaker 1: that oftentimes shared UH individuals that were in both Russia 239 00:12:38,400 --> 00:12:41,600 Speaker 1: and Ukraine, and those gangs were thrown into disarray. What's 240 00:12:41,600 --> 00:12:43,439 Speaker 1: happened though, in the last few weeks is that we've 241 00:12:43,440 --> 00:12:46,120 Speaker 1: seen those attacks start to rise up again. And it 242 00:12:46,160 --> 00:12:48,920 Speaker 1: looks like government sponsored attacks. So, for example, the other day, 243 00:12:49,160 --> 00:12:52,640 Speaker 1: Lithuania came under a significant attack, they turned to cloud 244 00:12:52,640 --> 00:12:54,679 Speaker 1: Flare in order to make sure that they could stay online, 245 00:12:54,880 --> 00:12:57,240 Speaker 1: and we helped protect them and get their government infrastructure 246 00:12:57,240 --> 00:12:59,800 Speaker 1: back online. But we are seeing what there was sort 247 00:12:59,800 --> 00:13:02,840 Speaker 1: of a lull immediately after the invasion. We're starting to 248 00:13:02,880 --> 00:13:05,520 Speaker 1: see that attacks tick up, and we're making sure that 249 00:13:05,679 --> 00:13:08,120 Speaker 1: everyone is has a shields up posture, every one of 250 00:13:08,120 --> 00:13:10,640 Speaker 1: our customers is fully protected, and then we stand ready 251 00:13:10,679 --> 00:13:13,360 Speaker 1: to protect any critical infrastructure in the United States or 252 00:13:13,400 --> 00:13:15,959 Speaker 1: anywhere around the world. Why do you think attacks are 253 00:13:16,000 --> 00:13:18,240 Speaker 1: just now starting to tick back up. Is it, you know, 254 00:13:18,320 --> 00:13:22,200 Speaker 1: a new level of organization after the initial invasion. You know, 255 00:13:23,080 --> 00:13:25,360 Speaker 1: I can't answer that question. I don't know exactly what's 256 00:13:25,360 --> 00:13:28,480 Speaker 1: going on in the minds of the Russians and what 257 00:13:28,559 --> 00:13:31,760 Speaker 1: their strategy uh is here. I think initially there was 258 00:13:31,800 --> 00:13:36,040 Speaker 1: a lot of focus on what the Ukrainian infrastructure would 259 00:13:36,080 --> 00:13:39,120 Speaker 1: have happened. But even when there was the invasion of Crimea, 260 00:13:39,360 --> 00:13:41,880 Speaker 1: even there's the invasion of Georgia, we actually saw many 261 00:13:41,960 --> 00:13:45,640 Speaker 1: more cyber attacks in those particular times, and we saw 262 00:13:45,679 --> 00:13:48,760 Speaker 1: a lot of probing ahead of the event, which gave 263 00:13:48,920 --> 00:13:51,480 Speaker 1: us a real concern that the that an invasion was 264 00:13:51,600 --> 00:13:55,199 Speaker 1: coming even before it actually happened. But what we're seeing 265 00:13:55,240 --> 00:13:58,480 Speaker 1: now is that they're starting to be what looks like 266 00:13:58,679 --> 00:14:01,680 Speaker 1: some sort of retaliation and against countries that are standing 267 00:14:01,679 --> 00:14:04,640 Speaker 1: with Ukraine, and so Lithuania is one of the countries 268 00:14:04,679 --> 00:14:06,800 Speaker 1: that announced that they were going to enforce some of 269 00:14:06,800 --> 00:14:09,960 Speaker 1: the Russian sanctions, and I think that that is a retaliation. 270 00:14:09,960 --> 00:14:12,760 Speaker 1: And I think across Europe, across the United States, those 271 00:14:12,760 --> 00:14:15,520 Speaker 1: people who are providing critical infrastructure need to make sure 272 00:14:15,559 --> 00:14:18,720 Speaker 1: that they're ready for whatever may come next. So let's 273 00:14:18,760 --> 00:14:21,040 Speaker 1: talk about those shields, how strong they are, and if 274 00:14:21,080 --> 00:14:24,560 Speaker 1: businesses are really prepared. You know, businesses are being told to, 275 00:14:25,000 --> 00:14:29,240 Speaker 1: you know, adopt this zero trust approach, continuously authenticate individuals 276 00:14:29,280 --> 00:14:33,120 Speaker 1: in and outside the organization at all times. Is it 277 00:14:33,240 --> 00:14:35,680 Speaker 1: working our our our targets ready? You know? I think 278 00:14:35,760 --> 00:14:38,120 Speaker 1: it really depends on the industry in the sector. The 279 00:14:38,160 --> 00:14:41,800 Speaker 1: good news is that if you adopt an approach like 280 00:14:41,920 --> 00:14:44,600 Speaker 1: a company like Kludsler has, like a company like Google has, 281 00:14:44,800 --> 00:14:47,640 Speaker 1: which is known as the zero trust approach, then then 282 00:14:47,680 --> 00:14:50,240 Speaker 1: that really can protect you. Uh, it's it's a little bit. 283 00:14:50,280 --> 00:14:52,120 Speaker 1: The best analogy I've had is it's a little bit 284 00:14:52,160 --> 00:14:54,280 Speaker 1: like how how we used to build boats versus how 285 00:14:54,280 --> 00:14:56,480 Speaker 1: we build boats now. Used to be built the whole 286 00:14:56,520 --> 00:14:58,760 Speaker 1: of the boat as strong as you could, but if 287 00:14:58,760 --> 00:15:00,920 Speaker 1: there was a leak anywhere, then the whole boat would 288 00:15:00,920 --> 00:15:03,760 Speaker 1: flood and it would eventually sink. A zero trust approach 289 00:15:03,800 --> 00:15:06,080 Speaker 1: to security is like bulkheads in a boat, so that 290 00:15:06,240 --> 00:15:08,400 Speaker 1: there's any leak anywhere in the in the boat, the 291 00:15:08,400 --> 00:15:11,040 Speaker 1: whole boat doesn't think. You might flood one compartment, but 292 00:15:11,080 --> 00:15:13,960 Speaker 1: that doesn't cause a catastrophic problem. What I think has 293 00:15:13,960 --> 00:15:17,200 Speaker 1: been incredibly important is making sure that those organizations that 294 00:15:17,280 --> 00:15:20,760 Speaker 1: need the protection are there to uh have it. And 295 00:15:20,800 --> 00:15:23,600 Speaker 1: so that's why we worked with law enforcement and government 296 00:15:23,600 --> 00:15:26,680 Speaker 1: officials to launch the Critical Infrastructure Defense Project, where we 297 00:15:26,720 --> 00:15:31,320 Speaker 1: provide our services at no cost to hospitals, water treatment facilities, 298 00:15:31,480 --> 00:15:33,920 Speaker 1: the energy sector. Because we know that this is a 299 00:15:33,960 --> 00:15:36,160 Speaker 1: heightened time of security, we want to make sure that 300 00:15:36,200 --> 00:15:39,880 Speaker 1: those organizations have the best security possible. Now, cloud Flare 301 00:15:39,880 --> 00:15:43,600 Speaker 1: sits at a really intersection interesting intersection of data and privacy, 302 00:15:43,760 --> 00:15:47,040 Speaker 1: which of course has taken on new significance in the 303 00:15:47,120 --> 00:15:50,720 Speaker 1: event of the overturning of Roe versus Weight. I'm curious 304 00:15:50,720 --> 00:15:53,040 Speaker 1: how you're thinking about this and and have you seen 305 00:15:53,440 --> 00:15:56,680 Speaker 1: an uptick in websites, you know, purporting to be a 306 00:15:56,760 --> 00:15:59,800 Speaker 1: legitimate healthcare website but is actually run by an and 307 00:16:00,040 --> 00:16:03,400 Speaker 1: high abortion group And what approach are you taking here? 308 00:16:03,600 --> 00:16:06,040 Speaker 1: You know, I don't know we've seen any examples of 309 00:16:06,120 --> 00:16:08,720 Speaker 1: that that maybe happen, but we don't tend to be 310 00:16:09,080 --> 00:16:11,560 Speaker 1: kind of in in the judging content business. What I 311 00:16:11,600 --> 00:16:14,160 Speaker 1: can say is that we have now run for several 312 00:16:14,200 --> 00:16:17,760 Speaker 1: years something called Project Galileo, and as we saw the 313 00:16:17,840 --> 00:16:20,520 Speaker 1: leaked opinion from the Supreme Court come out, there's an 314 00:16:20,560 --> 00:16:24,680 Speaker 1: increased number of attacks that we're targeting abortion providers around 315 00:16:24,680 --> 00:16:27,600 Speaker 1: the country, and so through Project Galileo, we stepped up 316 00:16:27,760 --> 00:16:30,600 Speaker 1: to make sure that those providers could stay online, they 317 00:16:30,600 --> 00:16:33,080 Speaker 1: were protected. And we've really seen an uptick in the 318 00:16:33,200 --> 00:16:36,760 Speaker 1: number of people that are providing abortion services UH that 319 00:16:36,760 --> 00:16:39,520 Speaker 1: that are under attack and that need our protection. And 320 00:16:39,520 --> 00:16:41,760 Speaker 1: so we stand ready to protect anyone who's providing those 321 00:16:41,760 --> 00:16:44,720 Speaker 1: services anywhere around the world. And if you need that help, 322 00:16:44,840 --> 00:16:47,320 Speaker 1: if you got a clefo dot com forward slash Galileo, 323 00:16:47,880 --> 00:16:50,400 Speaker 1: we provide our services at no cost of those organizations. 324 00:16:50,760 --> 00:16:52,960 Speaker 1: I mean, have you seen any change in traffic just 325 00:16:53,080 --> 00:16:55,480 Speaker 1: over the last week. I mean this obviously, this just 326 00:16:55,560 --> 00:16:59,200 Speaker 1: happened on Friday. And what's the ongoing plan in a 327 00:16:59,280 --> 00:17:03,800 Speaker 1: post row world. Yeah, I think two things. One, there's 328 00:17:03,840 --> 00:17:06,439 Speaker 1: been a significant uptick in what I would call attack 329 00:17:06,520 --> 00:17:09,760 Speaker 1: traffic or illegitimate traffic. Um. I think people who who 330 00:17:10,320 --> 00:17:14,800 Speaker 1: are against abortions are seeing this as as vindication of 331 00:17:14,840 --> 00:17:18,959 Speaker 1: their ability to go out and actually launch attacks, uh 332 00:17:19,080 --> 00:17:21,520 Speaker 1: and not not feel guilty for it. Obviously that's illegal 333 00:17:21,800 --> 00:17:25,080 Speaker 1: in any circumstances, and we stand ready to help protect 334 00:17:25,200 --> 00:17:28,040 Speaker 1: any of these organizations no matter what. On the other side, 335 00:17:28,040 --> 00:17:29,840 Speaker 1: we're seeing more and more people who are trying to 336 00:17:29,840 --> 00:17:33,240 Speaker 1: get clarification and understanding of what this means to them. 337 00:17:33,480 --> 00:17:36,400 Speaker 1: And so the legitimate traffic is going through the roof 338 00:17:36,440 --> 00:17:39,080 Speaker 1: and again at somewhere where cloud flick can help protect 339 00:17:39,240 --> 00:17:42,080 Speaker 1: not just against the illegitimate attacks, but make sure that 340 00:17:42,119 --> 00:17:46,000 Speaker 1: these organizations have the resources to stay online when they're needed, 341 00:17:46,040 --> 00:17:49,560 Speaker 1: and the information they provide is so critical at a 342 00:17:49,600 --> 00:17:52,399 Speaker 1: time when there's so much uncertainty like today. Matthew Prince, 343 00:17:52,480 --> 00:17:55,439 Speaker 1: CEO and co founder of cloud Flair, Matthew, thank you 344 00:17:55,880 --> 00:17:59,800 Speaker 1: for joining us and working through always some very complex issues. 345 00:18:00,960 --> 00:18:03,520 Speaker 1: Another story we continue to watch. Airbnb has made it 346 00:18:03,600 --> 00:18:07,040 Speaker 1: official it's temporary ban on house parties and events is 347 00:18:07,080 --> 00:18:10,159 Speaker 1: now permanent. Companies stated in a blog post that the 348 00:18:10,200 --> 00:18:12,959 Speaker 1: party band became much more than a public health measure. 349 00:18:13,440 --> 00:18:17,040 Speaker 1: So called disruptive parties. Open invite gatherings will continue to 350 00:18:17,080 --> 00:18:19,639 Speaker 1: be prohibited, and those who break the rules could be 351 00:18:19,760 --> 00:18:31,480 Speaker 1: kicked off the platform. If you're an Apple fan, you'll 352 00:18:31,480 --> 00:18:35,240 Speaker 1: be in for a very busy fall and first half 353 00:18:35,280 --> 00:18:39,720 Speaker 1: of Apples preparing one of its most ambitious new product 354 00:18:39,800 --> 00:18:43,920 Speaker 1: cycles ever, including four new iPhone four teens, three new 355 00:18:43,920 --> 00:18:47,879 Speaker 1: Apple Watches, a mixed reality headset, a new HomePod, and 356 00:18:48,000 --> 00:18:52,399 Speaker 1: updated Apple TV, new AirPods, pro earbuds, new iPad pros, 357 00:18:52,440 --> 00:18:55,120 Speaker 1: as well as new M two and M three based max. 358 00:18:55,920 --> 00:18:58,280 Speaker 1: The iPhone fourteen Pro will be the big new iPhone 359 00:18:58,320 --> 00:19:00,960 Speaker 1: story this year, adding a whole will punch camera to 360 00:19:01,040 --> 00:19:04,640 Speaker 1: replace the notch and always on display for iOS sixteen, 361 00:19:04,680 --> 00:19:08,480 Speaker 1: lockscreen widgets, a faster A sixteen processor, as well as 362 00:19:08,480 --> 00:19:11,440 Speaker 1: a forty eight pixel camera on the back. The regular 363 00:19:11,480 --> 00:19:14,639 Speaker 1: iPhone fourteen, however, will be a lesser update, retaining the 364 00:19:14,680 --> 00:19:18,320 Speaker 1: A fifteen chip from last year's models. The Apple Watch 365 00:19:18,359 --> 00:19:21,800 Speaker 1: Series eight will have three new main configurations, a standard 366 00:19:21,840 --> 00:19:25,199 Speaker 1: flagship model, a rugged edition, and a new low cost 367 00:19:25,400 --> 00:19:28,560 Speaker 1: sc The flagship models are likely to add a new 368 00:19:28,600 --> 00:19:31,720 Speaker 1: body temperature sensor, but the bad news is that the 369 00:19:31,760 --> 00:19:34,480 Speaker 1: new variations are likely to stick to the same chip 370 00:19:34,480 --> 00:19:38,000 Speaker 1: performance from two years ago. The iPad is also in 371 00:19:38,040 --> 00:19:40,480 Speaker 1: for some big upgrades, with the M two chip coming 372 00:19:40,480 --> 00:19:43,160 Speaker 1: to the iPad Pro Leader this year, and the entry 373 00:19:43,240 --> 00:19:47,160 Speaker 1: level iPads geared towards students getting five g a USBC 374 00:19:47,320 --> 00:19:50,720 Speaker 1: port in an updated processor. The M two chip, along 375 00:19:50,760 --> 00:19:53,080 Speaker 1: with sixteen gigs of RAM, will also be coming to 376 00:19:53,119 --> 00:19:56,320 Speaker 1: apples mixed reality headset that's due to go on sale 377 00:19:56,359 --> 00:20:00,280 Speaker 1: next year alongside reality os. Speaking of the M two, 378 00:20:00,640 --> 00:20:04,080 Speaker 1: Apples preparing several new max with that chip that includes 379 00:20:04,119 --> 00:20:06,960 Speaker 1: a new M two Macmni and M two pro Mac Mini, 380 00:20:07,280 --> 00:20:09,600 Speaker 1: as well as M two Pro and M two Max 381 00:20:09,840 --> 00:20:13,879 Speaker 1: fourteen inch and sixteen inch MacBook pros. Apples also already 382 00:20:13,920 --> 00:20:16,880 Speaker 1: working on the M three that's destined for an eventual 383 00:20:16,960 --> 00:20:19,760 Speaker 1: update to the thirteen inch MacBook Are, a new fifteen 384 00:20:19,800 --> 00:20:22,359 Speaker 1: inch MacBook Are as well as a new iMac. The 385 00:20:22,480 --> 00:20:24,880 Speaker 1: company is also working on a new twelve inch laptop. 386 00:20:25,560 --> 00:20:28,680 Speaker 1: Apple's audio products are also due for upgrades. Expect new 387 00:20:28,720 --> 00:20:32,120 Speaker 1: AirPods pros later this year with better audio quality, as 388 00:20:32,119 --> 00:20:34,640 Speaker 1: well as a new larger home pod with an SSAY 389 00:20:34,760 --> 00:20:37,440 Speaker 1: chip from the Apple Watch, as well as an updated display. 390 00:20:37,640 --> 00:20:39,840 Speaker 1: For those looking for a living room upgrade, you can 391 00:20:39,880 --> 00:20:42,360 Speaker 1: expect the new Apple TV set top box with an 392 00:20:42,359 --> 00:20:44,800 Speaker 1: A fourteen chip that's up from the H twelve in 393 00:20:44,840 --> 00:20:47,920 Speaker 1: the current model. I'm Mark German. This is power On, 394 00:20:51,400 --> 00:20:53,760 Speaker 1: Bloomberg's Mark German. There you can sign up from Mark's 395 00:20:53,920 --> 00:20:58,200 Speaker 1: weekly power On newsletter at Bloomberg dot com. Now we've 396 00:20:58,240 --> 00:21:00,680 Speaker 1: talked a lot about women's reproductive rites in the last 397 00:21:00,680 --> 00:21:03,640 Speaker 1: few days, given the Supreme Court's decision to overturn Row 398 00:21:03,880 --> 00:21:06,800 Speaker 1: versus Way. While my next guest has spent years fighting 399 00:21:06,800 --> 00:21:10,160 Speaker 1: for equality, especially for pregnant women, and as she looks 400 00:21:10,200 --> 00:21:13,200 Speaker 1: to end her historic career as the most decorated US 401 00:21:13,240 --> 00:21:16,560 Speaker 1: track and field athlete of all time, Alison Felix is 402 00:21:16,600 --> 00:21:19,119 Speaker 1: now spending her time trying to help mothers and women 403 00:21:19,119 --> 00:21:22,280 Speaker 1: of all ages succeed. She recently invested in you Me, 404 00:21:22,480 --> 00:21:25,600 Speaker 1: one of the fastest growing baby food companies, that uses 405 00:21:25,640 --> 00:21:30,520 Speaker 1: science to create its menu. Alison Felix joins us. Now, Alison, 406 00:21:30,520 --> 00:21:32,320 Speaker 1: it's wonderful to have you with us. Thank you for 407 00:21:32,359 --> 00:21:35,639 Speaker 1: taking the time tell us about this partnership with you 408 00:21:35,800 --> 00:21:39,320 Speaker 1: me and why of all the things you and other 409 00:21:39,440 --> 00:21:45,000 Speaker 1: superstar female athletes could support, you chose baby food. Yeah, 410 00:21:45,000 --> 00:21:47,600 Speaker 1: thank you so much for having me UM as an 411 00:21:47,600 --> 00:21:51,120 Speaker 1: athlete and as a mom. There's nothing more important than 412 00:21:51,359 --> 00:21:54,800 Speaker 1: what we put into our bodies and becoming, you know, 413 00:21:54,840 --> 00:21:57,720 Speaker 1: a mother. My eyes were open, but just the harmful 414 00:21:57,800 --> 00:22:01,840 Speaker 1: things that we feed our children. And so UM I 415 00:22:01,920 --> 00:22:05,000 Speaker 1: invested in you me because they're changing the industry and 416 00:22:05,080 --> 00:22:08,280 Speaker 1: everything is backed with science and rooted in that, and 417 00:22:08,359 --> 00:22:11,399 Speaker 1: so it was an incredible opportunity that they also have 418 00:22:11,480 --> 00:22:15,640 Speaker 1: two incredible female founders that I wanted to support. How 419 00:22:15,640 --> 00:22:18,080 Speaker 1: are you thinking about this in the context of this 420 00:22:18,680 --> 00:22:21,639 Speaker 1: nationwide baby formula shortage. I mean, you've got a lot 421 00:22:21,680 --> 00:22:24,240 Speaker 1: of moms out there who feel like they can't feed 422 00:22:24,240 --> 00:22:28,320 Speaker 1: their kids. Yeah, it's such a difficult time, and you know, 423 00:22:28,720 --> 00:22:31,199 Speaker 1: mothers are dealing with so much, parents are dealing with 424 00:22:31,280 --> 00:22:35,320 Speaker 1: so much. And here's an incredible company that is UM 425 00:22:35,359 --> 00:22:38,240 Speaker 1: producing this food and delivering it right to your doorstep, 426 00:22:38,280 --> 00:22:41,639 Speaker 1: and so it's incredible because it's all organic and vegan, 427 00:22:42,080 --> 00:22:45,160 Speaker 1: and UM, just really love that you know, you can 428 00:22:45,240 --> 00:22:49,119 Speaker 1: get it directly to you. You already have a successful 429 00:22:49,119 --> 00:22:53,119 Speaker 1: athletic footwear brand that you started called Safe. You know, 430 00:22:53,200 --> 00:22:56,000 Speaker 1: talk to us about what makes it different from the 431 00:22:56,040 --> 00:22:59,960 Speaker 1: other options out there and what your ambitions are here. Yeah, 432 00:23:00,200 --> 00:23:03,119 Speaker 1: I'm so excited about Sage And what makes us different 433 00:23:03,200 --> 00:23:06,760 Speaker 1: is that our footwear is specifically made to fit the 434 00:23:06,760 --> 00:23:10,639 Speaker 1: shape of a woman's foot. Um. We exist to know women, 435 00:23:10,720 --> 00:23:13,560 Speaker 1: to hear them, and so we're so excited to continue 436 00:23:13,560 --> 00:23:16,920 Speaker 1: to make products UM where women are not overlooked or 437 00:23:17,280 --> 00:23:20,479 Speaker 1: um an afterthought. And so I love that you know, 438 00:23:20,840 --> 00:23:24,320 Speaker 1: women's feet are different and we should have shoes specifically 439 00:23:24,359 --> 00:23:26,880 Speaker 1: for us and so UM excited to continue to grow 440 00:23:27,320 --> 00:23:31,240 Speaker 1: our brand. You announced that pregnant women could return shoes 441 00:23:31,280 --> 00:23:34,000 Speaker 1: if they don't fit right earlier this year. What do 442 00:23:34,040 --> 00:23:38,400 Speaker 1: you think brands get wrong about pregnant women? Yeah, I 443 00:23:38,440 --> 00:23:42,520 Speaker 1: hope that you know our maternity returns policy, you know, 444 00:23:42,920 --> 00:23:45,359 Speaker 1: can set the tone for what should happen in the 445 00:23:45,400 --> 00:23:48,840 Speaker 1: industry because as a pregnant woman, your foot can change, 446 00:23:49,080 --> 00:23:50,920 Speaker 1: and what a lot of people don't know is that 447 00:23:50,920 --> 00:23:54,359 Speaker 1: that change in size can be permanent, and so we're 448 00:23:54,359 --> 00:23:58,600 Speaker 1: offering your correct size, Um, you know, a return for free. 449 00:23:59,000 --> 00:24:01,320 Speaker 1: And I think that, you know, we need to support 450 00:24:01,359 --> 00:24:04,720 Speaker 1: women holistically and really just show up for them. And 451 00:24:04,720 --> 00:24:07,040 Speaker 1: here's just another small way where we can say you 452 00:24:07,080 --> 00:24:11,119 Speaker 1: don't have to choose between motherhood and anything else. You 453 00:24:11,200 --> 00:24:15,560 Speaker 1: of course made headlines back in with a famous op 454 00:24:15,720 --> 00:24:20,320 Speaker 1: ed pushing Nike to reevaluate their maternity policy for sponsored athletes. 455 00:24:20,640 --> 00:24:24,000 Speaker 1: They listened and they did change that policy. And I 456 00:24:24,119 --> 00:24:28,399 Speaker 1: have to wonder what you're thinking now, four five days 457 00:24:28,480 --> 00:24:31,399 Speaker 1: after this decision by the Supreme Court to overturn Roe 458 00:24:31,520 --> 00:24:36,359 Speaker 1: versus Weight, How are you processing this? What's your reaction? Yeah, 459 00:24:36,520 --> 00:24:39,600 Speaker 1: it's been difficult, you know, I think anytime a woman's 460 00:24:39,720 --> 00:24:43,960 Speaker 1: rights are taken away, it's it's hard. And I'm a 461 00:24:44,000 --> 00:24:47,880 Speaker 1: fierce advocate for women, a fierce um, you know, individual 462 00:24:47,880 --> 00:24:50,199 Speaker 1: who wants to fight on behalf and so you know, 463 00:24:50,560 --> 00:24:52,840 Speaker 1: it's a long way to go from here. Um, but 464 00:24:52,920 --> 00:24:56,679 Speaker 1: we're not going to stop. What would you like to 465 00:24:56,720 --> 00:25:00,920 Speaker 1: see companies do for women in this moment, whether they 466 00:25:00,960 --> 00:25:04,119 Speaker 1: want to pursue an abortion or perhaps they want to 467 00:25:04,440 --> 00:25:08,760 Speaker 1: keep a pregnancy in light of this law. I think 468 00:25:08,760 --> 00:25:11,760 Speaker 1: it's really a holistic approach and stepping up and saying 469 00:25:11,800 --> 00:25:14,800 Speaker 1: that we're going to be there and to support in 470 00:25:14,840 --> 00:25:16,920 Speaker 1: every way possible. UM. But I think it's a great 471 00:25:16,920 --> 00:25:21,040 Speaker 1: opportunity for companies, for organizations to be able to step up. 472 00:25:22,400 --> 00:25:25,840 Speaker 1: We just celebrated the fiftieth anniversity anniversary of Title nine. 473 00:25:25,840 --> 00:25:28,560 Speaker 1: And of course you've been fighting for women's equality now 474 00:25:29,080 --> 00:25:32,080 Speaker 1: for so many years. You're now dabbling in an industry, 475 00:25:32,240 --> 00:25:37,240 Speaker 1: investing in tech that has a history of inequity and UM, 476 00:25:37,280 --> 00:25:39,960 Speaker 1: women and women of color not being treated fairly, not 477 00:25:40,040 --> 00:25:44,399 Speaker 1: being UM treated fairly as entrepreneurs. UM. How do you 478 00:25:44,440 --> 00:25:47,520 Speaker 1: think your work? Uh? And you know what you've experienced 479 00:25:47,560 --> 00:25:51,480 Speaker 1: as an athlete can contribute more here. Yeah, I really 480 00:25:51,520 --> 00:25:55,400 Speaker 1: hope to focus on, you know, UM, underserved founders, underserved 481 00:25:55,400 --> 00:26:00,040 Speaker 1: people who aren't represented. UM. Throughoutout my entire career, be 482 00:26:00,080 --> 00:26:03,919 Speaker 1: able to see representation, being able to see diversity and 483 00:26:03,920 --> 00:26:06,560 Speaker 1: see myself and others has really inspired me. And so 484 00:26:07,000 --> 00:26:10,080 Speaker 1: UM that's something that I don't want to stop. All right, 485 00:26:10,240 --> 00:26:13,879 Speaker 1: Alison Felix, thank you so much for helping us, coming 486 00:26:13,920 --> 00:26:15,879 Speaker 1: here to help us, help you start that next chapter. 487 00:26:16,400 --> 00:26:19,920 Speaker 1: Thank you for taking a time to join us all right. Meantime, 488 00:26:20,160 --> 00:26:23,959 Speaker 1: Disney has extended the contract of CEO Bob Chpeck for 489 00:26:24,040 --> 00:26:26,520 Speaker 1: three more years, giving a vote of confidence to a 490 00:26:26,600 --> 00:26:30,920 Speaker 1: CEO who has battled much controversy and a crippling pandemic. 491 00:26:31,240 --> 00:26:35,200 Speaker 1: Chpec has transformed the company into a streaming powerhouse, while 492 00:26:35,240 --> 00:26:38,440 Speaker 1: also battling with Florida, the home of Disney World, over 493 00:26:38,480 --> 00:26:41,720 Speaker 1: a new law restricting the discussion of gender in school. 494 00:26:41,840 --> 00:26:45,159 Speaker 1: Coming up, a social network that is teaching kids about 495 00:26:45,440 --> 00:26:48,479 Speaker 1: n f t s and it's being backed by the NBA. 496 00:26:49,200 --> 00:27:13,720 Speaker 1: More on what that is next. This is Bloomberg Time 497 00:27:13,760 --> 00:27:15,560 Speaker 1: now for our Crypto Report, and I want to take 498 00:27:15,600 --> 00:27:18,440 Speaker 1: a look at the future of kids in the metaverse. 499 00:27:18,440 --> 00:27:22,720 Speaker 1: We're focusing on Ziggazoo, a TikTok style video sharing app 500 00:27:22,760 --> 00:27:25,480 Speaker 1: four kids, which just raised seventeen million dollars from the 501 00:27:25,520 --> 00:27:28,919 Speaker 1: likes of TikTok stars Charlie and Dixie Amelio and also 502 00:27:29,480 --> 00:27:32,040 Speaker 1: the n b A. The kids social network is now 503 00:27:32,080 --> 00:27:36,639 Speaker 1: looking to expand into augmented reality and the Metaverse founder 504 00:27:36,640 --> 00:27:39,639 Speaker 1: and CEO Zach Ringelstein joins me now from more on 505 00:27:39,680 --> 00:27:43,240 Speaker 1: all of this, and Zach you're a former teacher, How 506 00:27:43,240 --> 00:27:46,359 Speaker 1: exactly does this work? What are kids doing on Zigazoo? 507 00:27:46,960 --> 00:27:49,520 Speaker 1: That's correct, Such a pleasure to be here, Thank you 508 00:27:49,560 --> 00:27:52,600 Speaker 1: for having us. Zigazoo was started out of our own home. 509 00:27:53,200 --> 00:27:55,679 Speaker 1: My wife Leah and I have three kids, three boys, 510 00:27:56,200 --> 00:27:58,360 Speaker 1: and we were trying to figure out, being in the pandemic, 511 00:27:58,400 --> 00:28:00,679 Speaker 1: what to do with them, and we were really bummed 512 00:28:00,680 --> 00:28:03,080 Speaker 1: out that the only thing you could do with your 513 00:28:03,160 --> 00:28:07,639 Speaker 1: kids online was basically play a game or watch or 514 00:28:07,680 --> 00:28:11,080 Speaker 1: oftentimes binge TV. Knowing that you know, we're gonna give 515 00:28:11,080 --> 00:28:13,920 Speaker 1: our kids a bit more of a digital diet during 516 00:28:13,960 --> 00:28:17,159 Speaker 1: the pandemic. We wanted kids to reach the top of 517 00:28:17,200 --> 00:28:20,480 Speaker 1: blooms taxonomy, which in teaching is creation. You want kids 518 00:28:20,480 --> 00:28:22,480 Speaker 1: to be creating and you also, by the way, I 519 00:28:22,480 --> 00:28:25,199 Speaker 1: want them to be creating in a healthy environment with friends. 520 00:28:25,600 --> 00:28:28,439 Speaker 1: And people thought this was kind of impossible, right, and 521 00:28:28,480 --> 00:28:32,199 Speaker 1: then we realized that it wasn't impossible, and that we 522 00:28:32,280 --> 00:28:36,280 Speaker 1: could use the construct of project based learning, which is 523 00:28:36,640 --> 00:28:39,800 Speaker 1: uh one of the best based on research ways to 524 00:28:39,840 --> 00:28:42,920 Speaker 1: teach kids and give kids purpose in schools to basically 525 00:28:42,920 --> 00:28:45,600 Speaker 1: do challenges, and so we gave kids challenges. The beginning 526 00:28:45,640 --> 00:28:48,200 Speaker 1: of the pandemic, and now we have everyone from the 527 00:28:48,320 --> 00:28:52,080 Speaker 1: m b A to Nickelodeon to Coco Melon to today 528 00:28:52,120 --> 00:28:55,560 Speaker 1: we just launched a Blippy channel on Zigazoo, So all 529 00:28:55,640 --> 00:28:58,520 Speaker 1: your parents out there, there are all these great challenges 530 00:28:58,560 --> 00:29:01,600 Speaker 1: that kids can do. It give something, you know. For Nickelodeon, 531 00:29:01,640 --> 00:29:04,400 Speaker 1: we had the Wronk on Zigazoo saying, hey, what would 532 00:29:04,400 --> 00:29:06,720 Speaker 1: your face look like if you got slimed? And now 533 00:29:06,720 --> 00:29:09,240 Speaker 1: we have the NBA on asking questions like what would 534 00:29:09,280 --> 00:29:12,360 Speaker 1: your best slam dunk look like? And now you're getting 535 00:29:12,360 --> 00:29:15,360 Speaker 1: into n f T S. What are you teaching kids 536 00:29:15,520 --> 00:29:19,880 Speaker 1: about n f T S? Sure, so you know, obviously 537 00:29:20,440 --> 00:29:22,720 Speaker 1: there are a lot of ways to do Web three wrong, 538 00:29:23,000 --> 00:29:27,000 Speaker 1: and crypto gets a bad rap, but the reality is 539 00:29:27,160 --> 00:29:30,440 Speaker 1: that it's the future of the Internet. Web three is 540 00:29:30,480 --> 00:29:34,560 Speaker 1: Web three because it's after Web two, and we want 541 00:29:34,640 --> 00:29:37,719 Speaker 1: to get ahead of the game by providing opportunities for 542 00:29:37,840 --> 00:29:41,920 Speaker 1: kids to get to know this technology. It has the 543 00:29:42,000 --> 00:29:47,640 Speaker 1: potential to be a creation based technology where kids are 544 00:29:47,720 --> 00:29:51,880 Speaker 1: creating their future, and blockchain technologies are more sophisticated and 545 00:29:51,880 --> 00:29:55,160 Speaker 1: will allow kids to do so. We're giving kids opportunities 546 00:29:55,160 --> 00:29:57,360 Speaker 1: to do so. We've been able to bring on some 547 00:29:57,400 --> 00:29:59,480 Speaker 1: of the biggest talent and brands in the world to 548 00:29:59,560 --> 00:30:02,440 Speaker 1: create the own U n f T s. We're giving 549 00:30:02,520 --> 00:30:05,960 Speaker 1: kids opportunities and contests and otherwise to build art and 550 00:30:05,960 --> 00:30:08,560 Speaker 1: show them off to their friends. And then we're providing 551 00:30:08,600 --> 00:30:13,320 Speaker 1: other blockchain technologies that allow kids to be basically creators 552 00:30:13,320 --> 00:30:16,640 Speaker 1: in their own studio and to really start to think 553 00:30:16,640 --> 00:30:19,920 Speaker 1: of themselves less as consumers and more as creators in 554 00:30:19,920 --> 00:30:23,280 Speaker 1: this environment. So, I've got four kids, and I gotta 555 00:30:23,280 --> 00:30:25,560 Speaker 1: be honest with ste The thought of my kids on 556 00:30:25,600 --> 00:30:29,320 Speaker 1: TikTok for kids is a little bit terrifying, let alone 557 00:30:29,720 --> 00:30:33,600 Speaker 1: my kids in the metaverse. Why shouldn't parents be worried 558 00:30:33,600 --> 00:30:37,200 Speaker 1: about this? Well, so I think that there are all 559 00:30:37,280 --> 00:30:42,000 Speaker 1: these vocabulary words that are thrown out there to create fear, 560 00:30:42,520 --> 00:30:47,280 Speaker 1: and the reality is that, uh, kids are on social media, 561 00:30:47,360 --> 00:30:50,240 Speaker 1: but they're on social media that you wouldn't want your 562 00:30:50,320 --> 00:30:53,320 Speaker 1: kid on. Right, social media is here, it's here to say, 563 00:30:53,360 --> 00:30:55,800 Speaker 1: it's the language of kids. And so we think the 564 00:30:55,840 --> 00:30:59,480 Speaker 1: best solution is to create opportunities that are safe, that 565 00:30:59,520 --> 00:31:02,520 Speaker 1: our educal aational that are constructive, and to do that 566 00:31:02,560 --> 00:31:05,080 Speaker 1: in a way that you know, really blends the world 567 00:31:05,080 --> 00:31:08,360 Speaker 1: of education and entertainment and that's exactly what we've done. 568 00:31:08,480 --> 00:31:12,040 Speaker 1: We have the highest ratings from Common Sense Media, we 569 00:31:12,160 --> 00:31:16,720 Speaker 1: have Safe Harbor from the FTC where Kids Safe Kappa certified, 570 00:31:17,200 --> 00:31:20,280 Speaker 1: and we've been able to create what is really the 571 00:31:20,400 --> 00:31:23,600 Speaker 1: safe and lovely network of kids creating. It's one of 572 00:31:23,600 --> 00:31:27,240 Speaker 1: only two platforms that I let my own three kids use, 573 00:31:27,280 --> 00:31:29,640 Speaker 1: and we are very very strict about the way that 574 00:31:29,720 --> 00:31:35,040 Speaker 1: we think about technology. What's the other one? We let 575 00:31:35,080 --> 00:31:40,360 Speaker 1: them watch nett Netflix or Kids Okay, okay, so look, 576 00:31:40,400 --> 00:31:42,000 Speaker 1: why do you think you can do it better than 577 00:31:42,320 --> 00:31:44,920 Speaker 1: the other guys? You know, there's was a huge outcry 578 00:31:45,320 --> 00:31:47,400 Speaker 1: when Instagram announced it was going to try to do 579 00:31:47,480 --> 00:31:52,760 Speaker 1: Instagram for kids, and it's been permanently on pause. So 580 00:31:52,840 --> 00:31:55,800 Speaker 1: we have built zig as a truly ground up four 581 00:31:55,920 --> 00:31:59,840 Speaker 1: kids by kids, and you know, every single decision and 582 00:31:59,880 --> 00:32:03,400 Speaker 1: the product is made with kids in mind, whereas obviously 583 00:32:03,440 --> 00:32:05,560 Speaker 1: we know that that's not the case with a lot 584 00:32:05,600 --> 00:32:08,440 Speaker 1: of other social networks. One of the things that we 585 00:32:08,560 --> 00:32:12,400 Speaker 1: keep hearing, you know, from reviewers of our platform is 586 00:32:12,440 --> 00:32:16,120 Speaker 1: when we go on Zigazoo, were stunned by the fact 587 00:32:16,160 --> 00:32:21,280 Speaker 1: that kids childhoods are being preserved. There is no commenting 588 00:32:21,320 --> 00:32:25,000 Speaker 1: and no negativity on our platform. We have this, uh, 589 00:32:25,040 --> 00:32:27,520 Speaker 1: these opportunities for kids only to shout each other out. 590 00:32:27,560 --> 00:32:34,680 Speaker 1: So kids are on there being goofy, sharing their funniest jokes, laughing, singing, dancing, 591 00:32:35,040 --> 00:32:37,960 Speaker 1: being kids. And that's what I'm most proud of is 592 00:32:38,000 --> 00:32:40,640 Speaker 1: that you know, at the end of the day, technology 593 00:32:40,680 --> 00:32:44,640 Speaker 1: is here. If we try to prevent kids from using it, 594 00:32:45,000 --> 00:32:47,200 Speaker 1: it's just not gonna work. So what we need to 595 00:32:47,240 --> 00:32:50,880 Speaker 1: do is give them the guiding principles and the right 596 00:32:50,920 --> 00:32:54,440 Speaker 1: guard rails to be able to be kids and protect 597 00:32:54,440 --> 00:32:57,160 Speaker 1: their childhoods in a way that's safe and that allows 598 00:32:57,200 --> 00:33:00,960 Speaker 1: them to laugh and squeal and beat, be funny and 599 00:33:01,040 --> 00:33:03,440 Speaker 1: just be themselves. And we have done that and given 600 00:33:03,520 --> 00:33:06,840 Speaker 1: kids a lot of confidence in the meantime. What does 601 00:33:06,880 --> 00:33:09,720 Speaker 1: the NBA bring to the table for the court, I 602 00:33:09,720 --> 00:33:13,840 Speaker 1: should say so, you know, as a as a basketball fan, 603 00:33:13,920 --> 00:33:16,080 Speaker 1: my my, my dad's a huge basketball fan. I'm a 604 00:33:16,120 --> 00:33:19,280 Speaker 1: huge basketball fan. One of the things that UM we 605 00:33:19,400 --> 00:33:21,960 Speaker 1: love about the n b A is that what the 606 00:33:22,040 --> 00:33:24,240 Speaker 1: NBA does for kids, And as an educator, I can 607 00:33:24,280 --> 00:33:26,800 Speaker 1: say this through and through with my experience with kids, 608 00:33:27,040 --> 00:33:30,680 Speaker 1: is it teaches kids about being a good teammate. Uh, 609 00:33:30,720 --> 00:33:33,600 Speaker 1: you know, the NBA is about sports and being healthy. 610 00:33:34,080 --> 00:33:37,760 Speaker 1: It's about you know, fashion and and you know whatever 611 00:33:37,880 --> 00:33:40,440 Speaker 1: whatever else it might be. It's giving kids confidence. And 612 00:33:40,480 --> 00:33:43,560 Speaker 1: we think that the values of the NBA are really 613 00:33:43,600 --> 00:33:46,720 Speaker 1: reflected in Zigazoo as well. Zigazoo is in a game 614 00:33:47,160 --> 00:33:49,960 Speaker 1: you sit on on your couch for hours and hours. 615 00:33:49,960 --> 00:33:52,840 Speaker 1: That it's a way that you bring, you know, technologies 616 00:33:52,920 --> 00:33:55,280 Speaker 1: like you would Google maps or your own social media 617 00:33:55,400 --> 00:33:58,320 Speaker 1: into the world. It is asking you to do challenges 618 00:33:58,320 --> 00:34:01,200 Speaker 1: that are active as opposed to passive. And we think 619 00:34:01,200 --> 00:34:03,800 Speaker 1: that the NBA is a perfect partner in helping to 620 00:34:03,880 --> 00:34:12,200 Speaker 1: celebrate health, well being, being healthy, safety, joy, camaraderie, being 621 00:34:12,280 --> 00:34:14,279 Speaker 1: social but safe. Those are the things that that we 622 00:34:14,360 --> 00:34:17,080 Speaker 1: know that the NBA brings. Also, I became a sports 623 00:34:17,120 --> 00:34:20,480 Speaker 1: fan when I was at this age, right, I started, Uh, 624 00:34:20,600 --> 00:34:24,360 Speaker 1: I started becoming a fan um of my favorite sports 625 00:34:24,360 --> 00:34:27,560 Speaker 1: teams and players then, and the same is true, uh 626 00:34:27,600 --> 00:34:30,000 Speaker 1: you know here. So this is just a special way 627 00:34:30,200 --> 00:34:34,000 Speaker 1: to give kids opportunities to become fans in their medium. Right, 628 00:34:34,040 --> 00:34:37,200 Speaker 1: this isn't I'm a millennial, This isn't my medium as much. 629 00:34:37,360 --> 00:34:40,239 Speaker 1: This is their medium, their digital natives. They already know 630 00:34:40,280 --> 00:34:42,760 Speaker 1: what they're doing, and so we're providing a safe opportunity 631 00:34:42,760 --> 00:34:44,799 Speaker 1: where they're joyful and absolutely love it. And that's why 632 00:34:44,840 --> 00:34:49,280 Speaker 1: we're growing so fast, were able to secure such amazing funding. Okay, 633 00:34:49,440 --> 00:34:52,840 Speaker 1: we will keep following you guys. Zigga Zoo founder and 634 00:34:52,920 --> 00:34:56,760 Speaker 1: CEO Zach Wingelstein, thank you for joining. Such a pleasure. Really, 635 00:35:05,760 --> 00:35:08,560 Speaker 1: the price of oil just rose for a third straight day, 636 00:35:08,600 --> 00:35:12,120 Speaker 1: and that strength in crewde has kept US retail gas 637 00:35:12,120 --> 00:35:16,400 Speaker 1: prices near record highs, causing huge pain, in particular for 638 00:35:16,520 --> 00:35:19,359 Speaker 1: drivers of Uber and Left. Now, a wave of gig 639 00:35:19,400 --> 00:35:22,200 Speaker 1: economy drivers are turning to Tesla and other EV makers 640 00:35:22,239 --> 00:35:26,360 Speaker 1: as gas prices squeeze. Their profits are at Ludlow joins 641 00:35:26,400 --> 00:35:28,279 Speaker 1: us now with more what are they doing? Yeah, this 642 00:35:28,320 --> 00:35:30,480 Speaker 1: is incredible. It's data from a nappical grid wise. So 643 00:35:30,480 --> 00:35:32,719 Speaker 1: if you're a gig economy worker doing rideshare, you use 644 00:35:32,800 --> 00:35:35,799 Speaker 1: this to manage your trips. And compared with June last 645 00:35:35,880 --> 00:35:38,200 Speaker 1: year and the latest dates for May, the number of 646 00:35:38,320 --> 00:35:40,640 Speaker 1: drivers that said they had a Tesla as their vehicle 647 00:35:40,760 --> 00:35:45,520 Speaker 1: jumped a hundred and the prices of Tesla rising right. 648 00:35:45,640 --> 00:35:48,120 Speaker 1: But the point is the price of gas is so painful. 649 00:35:48,160 --> 00:35:50,560 Speaker 1: I mean, we're down from that peak of national average 650 00:35:50,600 --> 00:35:53,359 Speaker 1: five dollars per gallon, but it's still up there, right, 651 00:35:53,400 --> 00:35:56,120 Speaker 1: We're not that far off five here in California. Come on, 652 00:35:57,120 --> 00:36:01,000 Speaker 1: it's horrible, it's painful. Indeed, and need Uber driver. You 653 00:36:01,040 --> 00:36:03,440 Speaker 1: talk to, Lift driver, you talk to they're hurting. I 654 00:36:03,440 --> 00:36:06,080 Speaker 1: mean that's what really, it's what eats into their profit 655 00:36:06,160 --> 00:36:08,640 Speaker 1: or in other words, the money they take home. Are 656 00:36:08,680 --> 00:36:11,480 Speaker 1: the platform is doing anything to help drivers? Kind of? 657 00:36:11,640 --> 00:36:14,080 Speaker 1: So Uber has a partnership with Hurts where if you're 658 00:36:14,080 --> 00:36:16,520 Speaker 1: an Uber driver you can rent a Hurts for three 659 00:36:16,840 --> 00:36:19,520 Speaker 1: and fifty dollars a week a week, still quite a 660 00:36:19,560 --> 00:36:23,239 Speaker 1: lot that It includes insurance, maintenance, unlimited mileage at lease 661 00:36:23,320 --> 00:36:26,040 Speaker 1: a vehicle. Won't say which one, but I'm limited on 662 00:36:26,080 --> 00:36:27,880 Speaker 1: the mile as I can drive. If you're Uber driving 663 00:36:28,040 --> 00:36:30,399 Speaker 1: day and night, you can't have that. And they say 664 00:36:30,440 --> 00:36:33,240 Speaker 1: that the economics are good right now for that lift 665 00:36:33,719 --> 00:36:35,840 Speaker 1: zero financial incentives. So if you can't get onto that 666 00:36:35,920 --> 00:36:40,240 Speaker 1: Hurts plan, do you just Tesla? Well, gone to Tessa website, 667 00:36:40,280 --> 00:36:42,399 Speaker 1: Try and buy yourself a Model wire and Model three. 668 00:36:42,520 --> 00:36:44,600 Speaker 1: Look at the cost, but then look at how long 669 00:36:44,600 --> 00:36:46,759 Speaker 1: it will take for it to be delivered. Model Why 670 00:36:46,800 --> 00:36:49,239 Speaker 1: you're looking at January to April next year. If that's 671 00:36:49,239 --> 00:36:51,480 Speaker 1: your livelihood, I don't think you're able to wait. How 672 00:36:51,560 --> 00:36:53,959 Speaker 1: much is this impacting overall Tesla demand in the middle 673 00:36:53,960 --> 00:36:56,160 Speaker 1: of all of these layoffs. As you were reporting earlier 674 00:36:56,160 --> 00:36:58,160 Speaker 1: in the show, here's the thing. Demand is a lever 675 00:36:58,280 --> 00:37:00,920 Speaker 1: for Tesla. They are supply conser strained. In other words, 676 00:37:01,040 --> 00:37:03,560 Speaker 1: more demand than they can possibly build vehicles to meet 677 00:37:03,640 --> 00:37:05,640 Speaker 1: right now, and also more workers than they need to 678 00:37:05,680 --> 00:37:08,040 Speaker 1: build those vehicles. If you're a company and you're a 679 00:37:08,040 --> 00:37:10,680 Speaker 1: shareholder of that company, it could be a nice problem 680 00:37:10,719 --> 00:37:12,399 Speaker 1: to have. Oh and by the way, Elon Musk hasn't 681 00:37:12,400 --> 00:37:14,840 Speaker 1: tweeted in a few days. I think gets six days. 682 00:37:14,880 --> 00:37:17,839 Speaker 1: Six days, I mean that must be a record. Yeah. 683 00:37:18,080 --> 00:37:20,239 Speaker 1: I mean we're waiting for a certain deal to get 684 00:37:20,280 --> 00:37:21,880 Speaker 1: done and I'm waking up in the middle of the 685 00:37:21,960 --> 00:37:23,920 Speaker 1: night to check if it's happening. And I hope you 686 00:37:24,040 --> 00:37:26,719 Speaker 1: get some more sleep. But thank you for holding down 687 00:37:26,719 --> 00:37:29,440 Speaker 1: the flour. I love Thank you for that and your 688 00:37:29,440 --> 00:37:31,800 Speaker 1: big scoop earlier today. That does it for this edition 689 00:37:31,840 --> 00:37:35,520 Speaker 1: of bloomber Technology. We're back here tomorrow. The CEO of 690 00:37:35,600 --> 00:37:38,640 Speaker 1: Betterment will be joining us to talk about fintech, as 691 00:37:38,640 --> 00:37:43,640 Speaker 1: well as HP CEO Antonio Mary. And don't forget to 692 00:37:43,719 --> 00:37:46,480 Speaker 1: check out our podcast wherever you get your podcasts. I'm 693 00:37:46,520 --> 00:37:49,160 Speaker 1: Emily Changing in San Francisco. This is Bloomberg