WEBVTT - Latest Technology Developments On Russia Invasion 0:00:03.520 --> 0:00:06.800 From the heart of where innovation, money and power COLLI 0:00:07.640 --> 0:00:12.119 in Silicon Valley and beyond. This is Bloomberg Technology with 0:00:12.200 --> 0:00:28.080 Emily Jay. I'm Emily Chang in San Francisco, and this 0:00:28.160 --> 0:00:31.040 is Bloomberg Technology. Coming up in the next hour. Putin 0:00:31.240 --> 0:00:34.680 retaliates as sanctions for Russia's invasion. Mount will bring you 0:00:34.720 --> 0:00:37.600 the latest development in the assault on Ukraine from the 0:00:37.640 --> 0:00:41.640 ground and keep to the White House to cyberspace plus 0:00:41.760 --> 0:00:45.680 Meta and Twitter disrupt a Russian disinformation campaign. We'll talk 0:00:45.720 --> 0:00:48.159 to a top meta security official about what more can 0:00:48.200 --> 0:00:52.919 be done to fight Russian propaganda on social media. And 0:00:53.000 --> 0:00:54.880 we will talk about the role of crypto in the 0:00:54.960 --> 0:00:58.960 Ukrainian war, with several cryptocurrency surging after Russian sanctions, but 0:00:59.040 --> 0:01:02.280 could crypto also be a tool to allow Russian billionaires 0:01:02.320 --> 0:01:05.480 to circumvent them. We'll discuss We'll get to all of 0:01:05.480 --> 0:01:07.679 that in a moment. But first, stocks are raising almost 0:01:07.760 --> 0:01:11.400 all of their losses, Bitcoin rallying as investors weigh the 0:01:11.480 --> 0:01:14.839 risk of mounting sanctions on Russia. Meantime, Russia canceled trading 0:01:14.840 --> 0:01:19.120 in Moscow, but chairs of Russian companies cratered elsewhere, joining us. 0:01:19.120 --> 0:01:20.920 Now our ed Ludlow, who has been looking at market 0:01:20.920 --> 0:01:23.840 reaction across the globe. Yeah, it's been an incredible day 0:01:23.880 --> 0:01:26.679 in financial markets. Yes, we ended off session lows in 0:01:26.760 --> 0:01:29.319 terms of the equity story. Look at the spif just 0:01:29.360 --> 0:01:32.600 a quarter of percentage point, but investors clearly trying to 0:01:32.640 --> 0:01:36.240 work out their exposure position themselves. This is February, last 0:01:36.319 --> 0:01:39.200 day of the month, and it's the second consecutive monthly 0:01:39.240 --> 0:01:42.000 declined for U S secuities, the worst street going back 0:01:42.040 --> 0:01:44.960 to October. A big part of that story, of course, 0:01:45.040 --> 0:01:47.680 is yields. You see a big drive, a big advance 0:01:47.880 --> 0:01:50.720 in the bond market. US tenure yield, the benchmark in 0:01:50.760 --> 0:01:54.520 the US market off by fourteen basis points one eight 0:01:54.560 --> 0:01:58.560 two percent. So clearly investors taking the assessment. Semi conductors 0:01:58.560 --> 0:02:00.320 have been such a big part of that. Say ancients 0:02:00.360 --> 0:02:03.320 package well, the socks off by seven tenths of one percent, 0:02:03.320 --> 0:02:05.560 but it had been down more than two percent. So 0:02:05.640 --> 0:02:08.800 also investors working out the explosion of their bitcoin is 0:02:08.840 --> 0:02:12.440 really interesting. Trades seven, it's Monday. You and I back 0:02:12.480 --> 0:02:14.520 here in the studio over the weekend, I was not 0:02:14.560 --> 0:02:17.560 looking at cryptocurrency markets. If you see that big jump, 0:02:17.600 --> 0:02:21.160 the biggest since July for bitcoins. The consideration here is 0:02:21.200 --> 0:02:25.000 that whichever side the sanctions you sit on, crypto adoption 0:02:25.080 --> 0:02:27.960 crypto use may become more prevalent in the wake of those, 0:02:28.160 --> 0:02:31.240 particularly financial sanctions. To work out those that might be 0:02:31.280 --> 0:02:34.440 strung by certain currencies. Also kind of covering me ins 0:02:34.480 --> 0:02:36.280 my Bloombog tunuel. Yes, there's a lot of red on 0:02:36.280 --> 0:02:38.280 the screen at the moment, but there are also sectors 0:02:38.480 --> 0:02:41.239 that are in winners. This is the out performance of 0:02:41.280 --> 0:02:43.760 the defense sector on the SMP five relative to the 0:02:43.800 --> 0:02:46.720 broader index. You can see money has been going into 0:02:46.720 --> 0:02:48.280 the defense stocks. You know all about some of these 0:02:48.360 --> 0:02:52.440 NATO countries that are upping their defense spending unprecedentedly so 0:02:52.720 --> 0:02:54.880 in the wake of what we're seeing out of Ukraine. 0:02:54.880 --> 0:02:58.200 And finally there's the specific story of Russia and sanctions. 0:02:58.200 --> 0:03:00.600 A lot of it around commodities. You look at oil 0:03:00.680 --> 0:03:04.440 holding it around a barrel below a hundred, and we 0:03:04.560 --> 0:03:07.720 held pretty steady there as sanctions become more and more 0:03:07.840 --> 0:03:10.480 encroaching on the energy markets. But also the Bloomberg Commodity 0:03:10.520 --> 0:03:14.000 Index shows how broad basedis is soft and hard commodities 0:03:14.080 --> 0:03:17.760 jumping by the most insects. And finally, the van K 0:03:17.880 --> 0:03:19.519 e t F. This is a U S listed e 0:03:19.600 --> 0:03:23.239 t F which trucks which tracks Russian equities with the 0:03:23.320 --> 0:03:26.920 Russian markets closed until further notice. This was an issue 0:03:26.960 --> 0:03:30.120 of price discovery using that e t F truck tracking 0:03:30.320 --> 0:03:35.720 Russian assets down the biggest drop Emily in history. All right, 0:03:36.120 --> 0:03:39.600 thank you. Lots of moving parts there. As sweeping sanctions 0:03:39.600 --> 0:03:42.960 shake Russia's financial system and ripple worldwide, the Bank of 0:03:43.040 --> 0:03:46.440 Russia is taking desperate measures to seal the nation's economy, 0:03:46.480 --> 0:03:48.040 and the question is what more can the West do? 0:03:48.360 --> 0:03:52.240 Bloombergh Jordan's Fabian has more Jordans as far as we know. 0:03:52.280 --> 0:03:55.360 How much further is the US willing to go, especially 0:03:55.400 --> 0:03:59.600 when it comes to swift or otherwise. Right now they're 0:03:59.600 --> 0:04:02.600 saying U S oficials are saying that nothing is off 0:04:02.600 --> 0:04:05.360 the table, But one area they've been very hesitant to 0:04:05.360 --> 0:04:07.960 touch is the energy sector, which is of course the 0:04:08.040 --> 0:04:11.600 lifeblood of Rush's economy. There they're saying this morning that 0:04:11.680 --> 0:04:14.520 there's going to be certain carve outs or exemptions for 0:04:14.640 --> 0:04:18.080 energy related trades when they do announce the specifics of 0:04:18.080 --> 0:04:21.920 this swift band. That being said, the sanctions package thus 0:04:21.960 --> 0:04:25.680 far hasn't convinced Vladimir Putin to withdraw from Ukraine. So 0:04:25.720 --> 0:04:28.480 the question is, if this latest round of central bank 0:04:28.680 --> 0:04:31.839 penalties doesn't do the trick, then what does How far 0:04:32.240 --> 0:04:34.600 is the U S willing to go? And obviously, Jordan, 0:04:34.600 --> 0:04:36.760 you're covering the White House forest talk to us about 0:04:36.839 --> 0:04:40.800 how the Ukraine situation is changing President Biden's plan for 0:04:40.839 --> 0:04:44.599 the state of the Union coming up tomorrow. When the 0:04:44.600 --> 0:04:47.119 White House was initially conceiving the speech, they were thinking 0:04:47.160 --> 0:04:50.640 of it as a broad reset, uh, domestically on the 0:04:50.640 --> 0:04:54.720 President Biden's domestic agenda, which has been stalled since late 0:04:54.800 --> 0:04:57.880 last year, and also on the COVID situation. Uh, those 0:04:57.920 --> 0:05:01.120 two things are still gonna be prominent factor in this speech. 0:05:01.160 --> 0:05:06.000 But there's going to be much about the situation Ukraine, 0:05:06.279 --> 0:05:08.719 and they're gonna try and cast it in a way 0:05:08.839 --> 0:05:11.440 that it makes a part of the President Biden's effort 0:05:11.520 --> 0:05:15.560 to promote democracy both in the United States and abroad well. 0:05:15.560 --> 0:05:18.160 And there's also this question is about how these sanctions 0:05:18.200 --> 0:05:21.640 against Russia impact economies around the world and impact the 0:05:21.720 --> 0:05:25.479 US economy, which is already hurting from inflation. How is 0:05:25.520 --> 0:05:29.839 the President thinking about that? As I mentioned that the 0:05:29.960 --> 0:05:32.960 energy sector is a huge factor here. Inflation has been 0:05:32.960 --> 0:05:36.719 a tremendous bugaboo for Biden politically. It's it's really helped 0:05:36.920 --> 0:05:39.520 drag down his approval ratings. And thus far we've seen 0:05:39.560 --> 0:05:42.760 a real reluctance by the US government to go after 0:05:43.320 --> 0:05:46.960 Russia's oil and gas sector because they fear rising oil 0:05:47.000 --> 0:05:50.280 prices beyond how far they've already risen. So Uh, it's 0:05:50.279 --> 0:05:51.840 gonna be a big test for them in the coming 0:05:51.839 --> 0:05:55.520 weeks and days. Uh to see again, if Russia is 0:05:55.680 --> 0:05:59.080 not pulling out, not picking any concessions on the Ukraine front, 0:05:59.120 --> 0:06:01.560 how are they going? Are they're willing to go and 0:06:01.640 --> 0:06:05.400 you know, ban exports of Russian oil for example. Uh, 0:06:05.560 --> 0:06:08.520 that's something we'll be watching in the next few weeks, alright, 0:06:08.520 --> 0:06:11.560 Our White House reporter Jordan Fabian Jordan, thank you for 0:06:11.720 --> 0:06:22.960 that update. The war in Ukraine and the moments leading 0:06:23.000 --> 0:06:25.360 up to it have been muddied by disinformation online, with 0:06:25.440 --> 0:06:30.280 Russian actors pushing state narratives via platforms like Facebook, Instagram, TikTok, 0:06:30.480 --> 0:06:32.760 Twitter and more. Joining us to break down the role 0:06:32.800 --> 0:06:36.560 of social media in this ongoing war. Bloomberg Sarah Fryar, Sarah, 0:06:36.600 --> 0:06:38.840 thank you so much for joining us. Talk to us 0:06:38.839 --> 0:06:42.960 about how this fight against Russian disinformation is different than 0:06:43.000 --> 0:06:46.720 what we've seen in years past, for example, disinformation surrounding 0:06:46.920 --> 0:06:51.039 the US election. I think it's different because in this 0:06:51.080 --> 0:06:55.839 case you have a very clear instance of a state 0:06:55.880 --> 0:06:59.480 actor with the goal the gold known and you can 0:06:59.520 --> 0:07:03.120 just look for those specific talking points across social media 0:07:03.600 --> 0:07:06.400 and in those chiels right, we've seen, We've seen Twitter, 0:07:06.480 --> 0:07:12.080 We've seen UM Facebook, Twitter labeling Russian state media of 0:07:12.240 --> 0:07:16.160 Facebook is removing it from from circulation in the EU. 0:07:16.480 --> 0:07:21.480 UM YouTube has restricted any sort of advertising on that 0:07:21.960 --> 0:07:24.640 content in certain places. So I think I think that 0:07:24.880 --> 0:07:29.280 the side is a little clear because the U S 0:07:29.280 --> 0:07:32.640 based company UM your US based companies, and they are 0:07:32.680 --> 0:07:36.320 getting pressure from governments in the EU, UM and in 0:07:36.360 --> 0:07:39.560 the US, So I think that it's a little less 0:07:39.600 --> 0:07:43.000 murky what they have to do here talks us about 0:07:43.000 --> 0:07:47.440 how widespread this particular campaign is. I mean, they say 0:07:47.480 --> 0:07:51.480 they've suspended forty accounts in forty eight hours, but could 0:07:51.480 --> 0:07:54.960 it be much bigger than that? You're referring to uh 0:07:56.000 --> 0:08:00.520 operation that meta found on Facebook and Instagram. I mean, 0:08:00.560 --> 0:08:02.600 this is this is the typical kind of thing that 0:08:02.600 --> 0:08:07.000 they've been looking for for years, ever since the presidential 0:08:07.000 --> 0:08:11.480 election that involved Russian state interference and spreading and misinformation. 0:08:11.840 --> 0:08:14.000 This is what they've trained their systems on now, so 0:08:14.080 --> 0:08:16.360 they're they're a lot more aware of what to look at. 0:08:17.200 --> 0:08:20.360 Are they catching everything? Probably not um, but this is 0:08:20.400 --> 0:08:26.560 at least um invocative of of how how they're proactively 0:08:26.640 --> 0:08:30.000 looking for such things now. It's it's not like these 0:08:30.000 --> 0:08:34.360 companies that are being blindsided anymore. They are being asked um. 0:08:34.480 --> 0:08:39.360 And not just not just these companies, but information disinformation 0:08:39.400 --> 0:08:42.720 researchers the world over have been looking for this kind 0:08:42.720 --> 0:08:45.559 of content and flagging it. So I think that there 0:08:45.600 --> 0:08:47.959 are a lot more resources, a lot more eyeballs, and 0:08:48.080 --> 0:08:51.200 the more eyeballs to the problem, that easier it is disolved, 0:08:52.040 --> 0:08:56.200 all right, Bloomberg Stari Fire, thank you for that update. Meantime, 0:08:56.320 --> 0:08:59.760 as we just discussed medicine, it's disrupted a Russian disinformation 0:09:00.000 --> 0:09:04.640 operation targeting Ukraine, blocking efforts by a hacking group attempting 0:09:04.720 --> 0:09:07.599 to compromise the accounts of prominent Ukrainians. I want to 0:09:07.640 --> 0:09:09.800 get the latest on this from MET has had a 0:09:09.840 --> 0:09:12.920 security policy Napaniel Gleicher himself Da Daniel talk to us 0:09:12.920 --> 0:09:16.559 about the significance of what you have disrupted so far, 0:09:16.720 --> 0:09:20.200 and what else, what more work there is to do here? Sure, 0:09:20.280 --> 0:09:23.480 so we've identified and removed these two separate campaigns. One 0:09:23.559 --> 0:09:26.720 is an influence operation where these actors were using fake 0:09:26.720 --> 0:09:30.120 accounts across a whole number of social media networks Instagram 0:09:30.160 --> 0:09:33.600 and Facebook, but also on Twitter, on YouTube, on Okay 0:09:33.679 --> 0:09:36.520 and v k which are Russian social media networks, and 0:09:36.640 --> 0:09:40.079 their own websites to try to push messages suggesting that 0:09:40.160 --> 0:09:43.920 the Ukrainian government is sailing or failed, to undermine trust 0:09:43.960 --> 0:09:47.120 in the Ukrainian government and boost trust in the Russian government. 0:09:47.760 --> 0:09:50.680 And then separately, this hacking campaign. This is a group 0:09:50.760 --> 0:09:53.439 known as Ghostwriter, which is a well known threat actor 0:09:53.559 --> 0:09:57.400 that operates across Eastern Europe. They have now begun targeting 0:09:57.480 --> 0:10:01.840 individuals in Ukraine, including at least one journalists and prominent 0:10:01.920 --> 0:10:04.560 military officials and government linked officials. And what they're doing 0:10:04.760 --> 0:10:07.800 is they're hacking in and taking over their personal emails 0:10:07.920 --> 0:10:10.559 and their devices, and then they're using that to take 0:10:10.600 --> 0:10:12.520 over all their social media accounts and try to use 0:10:12.520 --> 0:10:16.679 those accounts to post false narratives or deceptive narratives. The 0:10:16.760 --> 0:10:19.080 good news is our teams have found and taken action 0:10:19.200 --> 0:10:21.880 on both of these operations. We've shared that information with 0:10:21.920 --> 0:10:24.800 our partners in industry, and so far it doesn't look 0:10:24.840 --> 0:10:27.520 like they were having a lot of success. So, for example, 0:10:27.640 --> 0:10:32.120 that influence operation, they only had about five thousand followers 0:10:32.240 --> 0:10:35.520 or even a bit less on Facebook and Instagram when 0:10:35.559 --> 0:10:39.079 they were removed. So to my next point, forty accounts 0:10:39.120 --> 0:10:42.360 in forty eight hours, how significant is that really, given 0:10:42.480 --> 0:10:46.800 that metas platforms, Facebook, Instagram, what's top are massive? Is 0:10:46.880 --> 0:10:49.880 this just scratching the surface, you know, in terms of 0:10:49.960 --> 0:10:53.559 how far these disinformation campaigns are running. Well, this is 0:10:53.600 --> 0:10:56.320 only one piece of the work that we're doing in Ukraine, 0:10:56.320 --> 0:10:57.839 and I wouldn't want people to think that this is 0:10:57.880 --> 0:11:00.280 the only thing that's happening. We've stood up a full 0:11:00.760 --> 0:11:04.520 special operations center and lets us bring in investigators and 0:11:04.559 --> 0:11:06.960 product experts from across the company so that we can 0:11:07.040 --> 0:11:10.120 tackle these challenges. We've rolled out a whole number of 0:11:10.240 --> 0:11:13.760 new products changes to help keep people stay safe on 0:11:13.880 --> 0:11:17.400 the platform. But influence operations like this, it's not the 0:11:17.559 --> 0:11:19.760 size that you need to pay attention to. This is 0:11:19.800 --> 0:11:22.920 an indication and it's the first indication we've seen that 0:11:23.040 --> 0:11:26.160 there is that there are covert influence operations from Russia 0:11:26.480 --> 0:11:29.000 targeting public debate in Ukraine. There's been a lot of 0:11:29.160 --> 0:11:32.040 speculation that that's happening, and of course there's been a 0:11:32.080 --> 0:11:35.240 lot of focus on overt influence operations from Russian state 0:11:35.400 --> 0:11:37.679 media and from other corners, but this is the first 0:11:37.720 --> 0:11:41.120 time we've seen this evidence. It's a good reminder that 0:11:41.240 --> 0:11:44.080 the threat actors that teams around the world are focused 0:11:44.120 --> 0:11:48.360 on our targeting this crisis, this invasion, and it's critical 0:11:48.440 --> 0:11:50.480 that we all remain vigilant to take action on these 0:11:50.880 --> 0:11:53.800 networks when they when they appear well and look, Russian 0:11:53.840 --> 0:11:56.959 disinformation campaigns are nothing new. As you and I have 0:11:57.040 --> 0:11:59.320 talked about in the past. Why did it take an 0:11:59.360 --> 0:12:02.960 invasion to get this kind of action from META on Ukraine? 0:12:02.960 --> 0:12:05.959 I mean, couldn't you have done this sooner? So we've 0:12:06.080 --> 0:12:09.360 enforced on a number of operations targeting Ukraine over the years. 0:12:09.440 --> 0:12:12.520 And actually an interesting point this network in particular, which 0:12:12.559 --> 0:12:15.240 is which is in particular stood up and begin engaging 0:12:15.640 --> 0:12:19.760 as tensions in Ukraine developed, UH is linked to a 0:12:19.800 --> 0:12:22.840 network we removed last year in that we removed from 0:12:22.840 --> 0:12:26.240 the platform we know these threat actors keep trying, but 0:12:26.440 --> 0:12:29.920 one of the indicators of success is that network removed. 0:12:30.000 --> 0:12:33.200 Last year it had about two and fifty thousand followers 0:12:33.400 --> 0:12:36.079 on Facebook and Instagram. This network, when they've tried to 0:12:36.120 --> 0:12:39.079 come back, had less than five thousand. And that's the 0:12:39.200 --> 0:12:42.760 goal here. These threat actors will keep trying, but over time, 0:12:42.960 --> 0:12:46.599 working with partners across society and improving our systems, we 0:12:46.679 --> 0:12:48.880 can make it harder for them, We can contain them, 0:12:48.960 --> 0:12:50.520 and we can ensure that even if they do get 0:12:50.559 --> 0:12:53.000 on the platforms, they just don't reach that many people 0:12:53.040 --> 0:12:56.040 before they get taken down. Look, your head of policy, 0:12:56.240 --> 0:13:00.480 Nick Klag, just announced you will be suspending Ussian state 0:13:00.559 --> 0:13:03.640 run media Art and spot Nik in Europe. There are 0:13:03.760 --> 0:13:06.480 calls for you to do that globally. When you look 0:13:06.520 --> 0:13:09.600 at the bigger picture, what more do you think Meta 0:13:09.880 --> 0:13:13.920 and its platforms, it's massive platforms can do to crack 0:13:14.000 --> 0:13:18.480 down on this kind of disinformation. So we've already taken 0:13:18.520 --> 0:13:21.760 a number of steps on Russian state media. We have 0:13:22.520 --> 0:13:25.760 removed their ability to run ads and demonetize them around 0:13:25.800 --> 0:13:29.040 the world. As Nick mentioned, in response to requests from 0:13:29.040 --> 0:13:31.839 the Ukrainian government and the EU government, we blocked them 0:13:32.000 --> 0:13:34.880 a number of specific Russian state media entities from broadcasting 0:13:34.960 --> 0:13:38.280 into the EU and into Ukraine. We're taking a whole 0:13:38.360 --> 0:13:41.600 range of other steps to essentially de amplify their ability 0:13:41.679 --> 0:13:44.760 to share information on our platforms. And also, we have 0:13:44.880 --> 0:13:48.880 third party fact checkers that are continuing to review content 0:13:49.000 --> 0:13:52.000 posted by Russian state media entities and other entities around 0:13:52.000 --> 0:13:54.720 the world. When they identify something is false or misleading, 0:13:54.960 --> 0:13:56.959 we label that to make sure people can see that, 0:13:57.320 --> 0:13:59.439 and we down rank it so it doesn't appear in 0:13:59.480 --> 0:14:03.400 people's needs and people are less likely to encounter the information. Meantime, 0:14:03.440 --> 0:14:06.400 you've got the Russian government asking you to take stuff down. 0:14:06.559 --> 0:14:10.640 How are you handling those requests? Looking at the other 0:14:10.679 --> 0:14:13.599 side of the coin, We're going to be consistent with 0:14:13.640 --> 0:14:16.800 our policies. The Russian government has asked us to remove 0:14:17.120 --> 0:14:21.120 fact checks from Russian state media publications where the third 0:14:21.120 --> 0:14:23.520 party fact checkers I mentioned have determined that they were 0:14:23.800 --> 0:14:26.400 making statements that were false or misleading. We refused to 0:14:26.480 --> 0:14:29.480 do that. Those fact checks are still available. Our third 0:14:29.520 --> 0:14:32.800 party fact checkers are still fact checking content from around 0:14:32.840 --> 0:14:36.080 the world, including from Russian state media, and actually, in 0:14:36.160 --> 0:14:39.280 the meantime, we've identified and labeled a number of additional 0:14:39.400 --> 0:14:43.440 Russian state media entities. So we're continuing to push. In fact, 0:14:43.560 --> 0:14:46.560 we'll be likely identifying and labeling more as time passes. 0:14:46.680 --> 0:14:49.400 That our investigators continue to work. And what can you 0:14:49.520 --> 0:14:53.880 tell us about cooperation between Meta and Twitter and TikTok 0:14:54.040 --> 0:14:56.680 and YouTube on these efforts. I know that that's that 0:14:56.800 --> 0:14:59.400 kind of coordination is something that's been happening for a 0:14:59.480 --> 0:15:04.040 few years now. Yeah, coordination across industry is absolutely critical 0:15:04.360 --> 0:15:07.080 because threat actors like the ones we're talking about don't 0:15:07.160 --> 0:15:11.040 just target one social media platform. I mentioned that the 0:15:11.120 --> 0:15:14.280 Influence operations we took down targeted a number of social 0:15:14.320 --> 0:15:19.080 media platforms, similarly that that hacking group Ghostwriter. They begin 0:15:19.400 --> 0:15:22.480 by compromising personal email and then using that to get 0:15:22.520 --> 0:15:25.760 to a whole bunch of different social media accounts. Whenever 0:15:25.800 --> 0:15:27.760 we find an operation like this, we share information with 0:15:27.840 --> 0:15:30.000 our partners so that they can investigate and they can 0:15:30.080 --> 0:15:33.680 take action themselves on violations on their platform, and then 0:15:33.720 --> 0:15:35.520 they share information back with us so that we can 0:15:35.560 --> 0:15:38.240 do the same thing. One of the biggest changes from 0:15:39.360 --> 0:15:44.120 even from is that today there are determined expert teams 0:15:44.640 --> 0:15:48.240 at social media platforms around the world, in government and 0:15:48.360 --> 0:15:51.120 in civil society, that are working to defend against these 0:15:51.120 --> 0:15:53.480 types of threats and are sharing information with each other 0:15:53.720 --> 0:15:55.320 so we can all counter them as a whole of 0:15:55.360 --> 0:16:00.280 society response. Alright, met ahead of security policy, Nathaniel, I sure, 0:16:00.400 --> 0:16:03.160 thank you so much as always for joining us to 0:16:03.200 --> 0:16:06.520 talk about the work you're doing. Meantime, TikTok users can 0:16:06.560 --> 0:16:09.600 now upload videos up to ten minutes long. This after 0:16:09.680 --> 0:16:12.760 months of testing. TikTok has been expanding its video length 0:16:12.800 --> 0:16:15.880 ever since its creation, going from an initial fifteen seconds 0:16:15.960 --> 0:16:19.320 to sixty seconds and then, most recently three minutes. TikTok 0:16:19.360 --> 0:16:22.680 says it hopes this will unleash even more creative possibilities 0:16:22.720 --> 0:16:26.600 for creators around the world. Longer videos could allow more context. However, 0:16:26.680 --> 0:16:29.960 critics say this also opens the door for more misinformation 0:16:30.080 --> 0:16:33.480 and disinformation, especially in the midst of the ongoing crisis 0:16:33.960 --> 0:16:39.040 in Ukraine. Coming up, tens of thousands of Ukrainians fleeing 0:16:39.080 --> 0:16:41.800 their war torn country now able to access homes on 0:16:41.920 --> 0:16:45.560 Airbnb for free or on that pledge from CEO Brian Chesky. 0:16:45.880 --> 0:17:08.119 Next this Spoomberg AIRBNBC O Brian Chesky says the home 0:17:08.160 --> 0:17:11.040 sharing service will offer free short term housing for up 0:17:11.080 --> 0:17:14.320 to one thousand Ukrainian refugees now being forced to flee 0:17:14.520 --> 0:17:16.920 their country. This is something the company has done in 0:17:16.960 --> 0:17:20.040 the past during other international conflicts. For more, I'm joined 0:17:20.080 --> 0:17:22.920 by Bloomberg Michael Tobin. Bloomberg Michael, what do we know 0:17:23.640 --> 0:17:26.840 about Airbnb's efforts this time and how does it compare 0:17:27.200 --> 0:17:31.440 to what they've done in years past. So Airbnb is 0:17:31.760 --> 0:17:34.720 stepped up and offered to provide short term housing to 0:17:34.960 --> 0:17:38.159 up to a hundred thousands UM Ukrainian refugees that are 0:17:38.200 --> 0:17:41.399 coming from the country. UM, the size and scope of 0:17:41.560 --> 0:17:44.280 what we're seeing out of Ukraine is pretty large, and 0:17:44.520 --> 0:17:46.760 people are estimating that it's only going to get larger 0:17:46.800 --> 0:17:50.520 as the conflict progresses. UM. In the past, Airbnb has 0:17:50.560 --> 0:17:53.640 really helped us step up and provide housing to refugees 0:17:53.680 --> 0:17:56.199 from Afghanistan. They were able to provide housing to more 0:17:56.240 --> 0:17:59.200 than twenty one refugees and have also stepped up in 0:17:59.240 --> 0:18:02.439 the past to provide housing UM too refucues from Syria 0:18:02.680 --> 0:18:06.600 and Venezuela. How is this operation being funded? I mean, 0:18:06.720 --> 0:18:10.520 is this purely thanks to the generosity of Airbnb hosts? 0:18:11.800 --> 0:18:13.600 That's part of it. I mean, ultimately, at the end 0:18:13.640 --> 0:18:15.000 of the day, people are going to have to open 0:18:15.080 --> 0:18:17.880 up their homes, right, and they're also getting some support 0:18:18.000 --> 0:18:20.639 from donors as well as their refugee fund. But I 0:18:20.720 --> 0:18:22.080 mean a lot of the work is gonna have to 0:18:22.160 --> 0:18:26.240 come from the hosts themselves. So talk to us that 0:18:26.320 --> 0:18:30.480 about how airbnb dot org fits into the broader company 0:18:30.680 --> 0:18:35.280 efforts and the longer term goals here. I think that 0:18:35.400 --> 0:18:38.879 they are continuing to place an emphasis on kind of 0:18:39.000 --> 0:18:43.399 this social outreach and humanitarian work. And I mean I 0:18:43.520 --> 0:18:45.960 think the speed that they've been able to put this together, 0:18:46.160 --> 0:18:47.879 I mean, this crisis has been going on for a 0:18:47.960 --> 0:18:50.080 few days. It's clearly you know, at the top of 0:18:50.119 --> 0:18:52.360 their mind whenever something happens, they're looking for a way 0:18:52.400 --> 0:18:55.520 that they can help out. We know that other companies 0:18:55.640 --> 0:18:58.840 like Uber are pulling employees out of Ukraine. Uber is 0:18:58.840 --> 0:19:01.600 also suspended its service is in Ukraine. What kind of 0:19:01.640 --> 0:19:06.600 operations does Airbnb have in Ukraine and Russia to be fair, 0:19:06.760 --> 0:19:11.880 and how are they handling this? In total? UM there's 0:19:11.920 --> 0:19:17.160 about seventeen thousand short term listings in Ukraine, and that's 0:19:17.520 --> 0:19:20.280 data from air DNA, which is a market research company. 0:19:20.760 --> 0:19:24.160 UM from what I've seen, there is a good deal 0:19:24.600 --> 0:19:29.480 of UM I guess market share that Airbnb has within 0:19:29.640 --> 0:19:34.560 that community. UM. I spoke to a few hosts who 0:19:34.560 --> 0:19:37.000 are in the city of Mariopool, which is down on 0:19:37.080 --> 0:19:39.560 the c of asof so it connects, you know, to 0:19:39.760 --> 0:19:42.520 the Black Sea. UM and they said that business was 0:19:42.680 --> 0:19:46.560 going as normal up until the week before the invasion. UM. 0:19:47.359 --> 0:19:51.199 So it sounds like some of those are still in operation. 0:19:51.359 --> 0:19:53.520 The company said that they're going to continue to support 0:19:53.560 --> 0:19:56.000 hosts and guests, but we haven't heard anything direct from them. 0:19:56.600 --> 0:20:02.840 And what about in Russia in particular, Yeah, so in 0:20:02.960 --> 0:20:05.920 Russia there are more there's about nine than the active 0:20:05.960 --> 0:20:09.320 rental units UM and I haven't checked to see what 0:20:09.520 --> 0:20:12.520 share Airbnb has, but it's a much larger market and 0:20:12.600 --> 0:20:14.720 to be fair, also a much larger country than Ukraine. 0:20:16.720 --> 0:20:19.399 All Right, Bloomberg's Michael Tolben, We're going to continue to 0:20:19.440 --> 0:20:23.480 follow Airbnb's efforts. Here see how many Ukrainian refugees take 0:20:23.520 --> 0:20:28.480 Airbnb up on this offer, this generous offer. Michael, thank 0:20:28.560 --> 0:20:31.920 you for that report. Meantime, Bloomberg has learned that i 0:20:32.160 --> 0:20:35.000 Fit Health and Fitness saw its valuation fall by about 0:20:35.040 --> 0:20:39.000 six after raising new capital. The Peloton rival now valued 0:20:39.359 --> 0:20:42.120 below three billion dollars. Just last week, i FIT announced 0:20:42.119 --> 0:20:45.760 the restructuring and layoffs. I FITS brand include Nordic Track 0:20:46.119 --> 0:20:58.120 and pro Form Welcome back to Bloomberg Technology and Emily 0:20:58.200 --> 0:21:01.879 Chang in San Francisco, starling space actors. Space based internet 0:21:01.960 --> 0:21:06.120 services active in Ukraine and helping the country citizens stay connected. 0:21:06.200 --> 0:21:09.720 This according to a tweet from ukas City lamask the world, 0:21:09.800 --> 0:21:12.320 which is man also promised more hardware is on the 0:21:12.359 --> 0:21:15.879 way to help Ukraine in response to a plea from 0:21:15.920 --> 0:21:19.439 the country's Vice Prime Minister, Mikhailo Federer of joining us 0:21:19.480 --> 0:21:21.879 now with the latest on that are at Ludlow and 0:21:22.040 --> 0:21:25.920 talk to us about what Starlink is doing in Ukraine. Yeah, 0:21:25.960 --> 0:21:28.680 it's interesting they've moved so quickly. So Elon Musk tweeted 0:21:28.760 --> 0:21:31.600 that two pm on Saturday, we actually just in the 0:21:31.680 --> 0:21:35.000 last couple of hours had an image through from Ukraine 0:21:35.040 --> 0:21:38.480 from that same minister and those Starlink ground terminals or 0:21:38.520 --> 0:21:40.400 sets have arrived. You see them there in the back 0:21:40.440 --> 0:21:42.359 of that truck. We don't know how many you are 0:21:42.440 --> 0:21:45.639 in there, but that's incredibly fast. Bearing in mind that 0:21:45.720 --> 0:21:48.720 the Starlink service wasn't active in the Ukraine and wasn't 0:21:48.800 --> 0:21:52.159 juiced be active there until three. So there have been reports, 0:21:52.160 --> 0:21:55.520 for example from vias At that their internet service has 0:21:55.520 --> 0:21:58.440 been disrupted by a suspected cyber hack. This goes some 0:21:58.640 --> 0:22:01.840 way to helping the country of Ukraine and staying connected. 0:22:03.440 --> 0:22:07.880 Why is starlink so useful for what's going on there? Yeah, 0:22:08.080 --> 0:22:10.320 it's the simplicity of it. So inside each of those 0:22:10.400 --> 0:22:13.760 boxes there's the receiver unit and a dish, and you literally, 0:22:13.800 --> 0:22:16.040 as Elon Musk has put in the past, stand outside, 0:22:16.280 --> 0:22:18.680 point your dish in the sky and hope that there's 0:22:18.680 --> 0:22:21.760 a Starling satellite overhead. But we've already seen some tweets 0:22:21.760 --> 0:22:24.200 from the ground showing that they're getting good connectivity a 0:22:24.280 --> 0:22:27.639 hundred and thirty seven megabits per second to TV some context, 0:22:27.720 --> 0:22:30.480 the average broadband in the US gives you around fifty 0:22:30.520 --> 0:22:33.680 megabits per second. So it's strong WiFi that you're able 0:22:33.760 --> 0:22:36.680 to run video on, you can communicate with and as 0:22:36.720 --> 0:22:38.560 we know, some of the services in that country have 0:22:38.720 --> 0:22:42.000 been disrupted because of energy shortages or outages because of 0:22:42.080 --> 0:22:44.720 Russia's military activity, but also, as I said, some of 0:22:44.760 --> 0:22:48.399 these suspected cyber attacks which have impacted other providers like 0:22:48.680 --> 0:22:51.399 vias that it's simple, it's quick. We just don't know 0:22:51.480 --> 0:22:53.640 how many receivers they've got. We don't know how much 0:22:53.680 --> 0:22:57.280 service starlink is able to provide, and how as far 0:22:57.320 --> 0:23:00.280 as we know to Starlink's system compared to the kind 0:23:00.320 --> 0:23:04.399 of internet you know, and Ukrainian citizen would normally be 0:23:04.480 --> 0:23:07.200 able to access. Yeah, I think part of the problem 0:23:07.240 --> 0:23:10.280