WEBVTT - Samanth Subramanian on the Undersea Cables That Keep the Internet Alive

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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<v Speaker 2>Hello and welcome to another episode of the Authoughts podcast.

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<v Speaker 2>I'm Tracy Alloway and I'm Jill wi isn't Joe. I

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<v Speaker 2>am going to send you a link. Okay, you're going

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<v Speaker 2>to open it on your laptop, which we have expressly

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<v Speaker 2>for this purpose, and tell me what you see.

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<v Speaker 1>Okay, Okay, I'm pueing it. This is a fun experiment.

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<v Speaker 1>We've never done anything like this before.

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<v Speaker 2>I know, we've never been so prepared for a podcast

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<v Speaker 2>as to have a link ready to go.

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<v Speaker 1>It's a map of undersea case. It's actually the Encyclopedia

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<v Speaker 1>Britannica page of undersea cables, and there's a really old

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<v Speaker 1>fashioned looking map here. Looks pretty cool.

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<v Speaker 2>What does that remind you of?

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<v Speaker 1>Oh no, I lost them.

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<v Speaker 3>I knew this.

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<v Speaker 1>Wouldn't wor shipping lanes. Yes, okay, yes, that's I got

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<v Speaker 1>the right answer. Yeah.

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<v Speaker 2>So I've been looking at these maps and they look

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<v Speaker 2>remarkably like shipping lanes, even though upon further reading, it

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<v Speaker 2>turns out that subc cables do not precisely follow actual

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<v Speaker 2>like major shipping lanes. But since most of them are

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<v Speaker 2>going to and from a major economic center a city

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<v Speaker 2>or something. They look a lot like shipping lanes. And

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<v Speaker 2>the reason I bring this up is because I think

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<v Speaker 2>with everything technological nowadays, you know, whether it's AI or

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<v Speaker 2>the basic Internet, there's a tendency to think of it

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<v Speaker 2>as this very ephemeral digital presence in our lives. But

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<v Speaker 2>of course, as we've been discussing on a couple podcasts recently,

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<v Speaker 2>there is an incredible physical architecture which is the source

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<v Speaker 2>of all these things, whether it's subc fiber optic cables

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<v Speaker 2>that kind of look like shipping lines, or massive data

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<v Speaker 2>centers that cost a lot of electricity and commodities to produce.

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<v Speaker 1>Undersea cables is one of the most fascinating things to

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<v Speaker 1>me because there's been a cable right between London and

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<v Speaker 1>New York for over a hundred years. I know that

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<v Speaker 1>blows That's actually why the UK pound sterling rate is

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<v Speaker 1>called cable, That's why it's nicknamed that. It blows my

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<v Speaker 1>mind that, like over one hundred years ago, whenever it

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<v Speaker 1>was when they first had the telegraph, that they were

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<v Speaker 1>able to string a continuous line from London to New

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<v Speaker 1>York like that blows my mind that they could do that.

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<v Speaker 1>Whatever that was like a century ago whenever, But it

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<v Speaker 1>blows my mind that they can still do it today,

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<v Speaker 1>like it actually it hurt. I still find it hard

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<v Speaker 1>to believe that they can actually have one length of

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<v Speaker 1>cord that goes under sea this far, even with all

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<v Speaker 1>the technologies, I still can't wrap my head around how

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<v Speaker 1>they do that.

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<v Speaker 2>Yeah, and some of those cable lines I think are

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<v Speaker 2>armored in various ways to protect them. They're talking about

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<v Speaker 2>doing like more land fiber optic cables now as well.

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<v Speaker 2>There's a lot that we should discuss, not just because

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<v Speaker 2>this topic is incredibly interesting and we've been meaning to

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<v Speaker 2>for a long time, but also because with all the

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<v Speaker 2>geopolitical volatility that we're seeing nowadays, you always hear subsea

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<v Speaker 2>cables coming up as a potential source of vulnerability totally.

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<v Speaker 1>You hear about attacks and them from time to time,

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<v Speaker 1>and I guess there's probably some redundancies and other ways

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<v Speaker 1>to route around, but it is weird to think that,

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<v Speaker 1>like in theory, you could just like cut off some

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<v Speaker 1>part of the world from the Internet, like clipping all

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<v Speaker 1>the cables at least I get them.

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<v Speaker 2>You could send out little drone lobsters and they like

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<v Speaker 2>cut the cable in the deep sea bed with their little.

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<v Speaker 1>Lobster clubs are literally happening.

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<v Speaker 2>Okay, we should actually speak to someone who knows about this.

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<v Speaker 2>We do, in fact have the perfect guest again, someone

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<v Speaker 2>we wanted to speak to for a very long time.

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<v Speaker 2>We're going to be speaking with some month, Supermanian. He's

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<v Speaker 2>the author of the Web Beneath the Waves, the fragile

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<v Speaker 2>cables that connect our world. He's also the acting manager

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<v Speaker 2>editor of Equator, which is a new magazine covering politics

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<v Speaker 2>and culture. Sounds very cool, Saman, thank you so much

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<v Speaker 2>for coming on all lots.

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<v Speaker 3>Thank you for having me.

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<v Speaker 2>I should have said in the intro that you're actually

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<v Speaker 2>the author of numerous books on kind of I would say,

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<v Speaker 2>disparate subjects. So I'm very curious why you decided to

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<v Speaker 2>cover something like subsea cables.

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<v Speaker 3>Well, I mean, there's a long, nonsine short answer, and

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<v Speaker 3>the long answer has to do with this essay that

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<v Speaker 3>I read more than ten years ago. This was an

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<v Speaker 3>essay by the science fiction writer Neil Stephenson, and he

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<v Speaker 3>had written this piece in Wired magazine sometime in the nineties.

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<v Speaker 3>Forty thousand words long. It took up like virtually the

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<v Speaker 3>entire magazine called Mother Earth, Motherboard, and that essay had Stephenson.

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<v Speaker 3>You know, he sort of cast himself in the role

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<v Speaker 3>of what he calls a hacker tourist, and he goes

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<v Speaker 3>around the world kind of looking at places where these

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<v Speaker 3>subse cables land and are installed into the earth or

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<v Speaker 3>let into the sea, or repaired, and he meets these

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<v Speaker 3>like odd people who do this kind of work or

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<v Speaker 3>did this kind of work back then, and he kind

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<v Speaker 3>of traces through all of this a picture of the

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<v Speaker 3>nascent Internet. I mean, the Internet was already there, but

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<v Speaker 3>I guess it wasn't as big as it was now obviously,

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<v Speaker 3>but you know, it wasn't even as big as it

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<v Speaker 3>was in two thousand and five. There was a lot

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<v Speaker 3>of big data explosions yet to come, but it was

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<v Speaker 3>clearly something that was and I think Neil Stephenson did

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<v Speaker 3>such a good job even in the nineteen nineties, the

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<v Speaker 3>reminding people that the Internet is reliant on this physical infrastructure,

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<v Speaker 3>this actual cabling that looks remarkably similar to telegraph cables

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<v Speaker 3>from the eighteen hundreds, athough of course there are big differences.

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<v Speaker 3>So he wrote this essay in the nineteen nineties. I

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<v Speaker 3>read it in twenty twelve, I think, and I remember

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<v Speaker 3>being so entranced by the story that I had to

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<v Speaker 3>step out to get groceries, and I kept reading on

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<v Speaker 3>my phone, you know. I read in the shop, I

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<v Speaker 3>read on the way back I was walking to and

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<v Speaker 3>from there. And of course it struck me that the

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<v Speaker 3>only reason I was able to load it on my

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<v Speaker 3>phone as I was walking was because the Internet was

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<v Speaker 3>carrying this story to me through someone to sea cable

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<v Speaker 3>or another. And then fast forward to a few years

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<v Speaker 3>ago when there was a big volcanic eruption off the

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<v Speaker 3>coast of Tonga, which is an archipelago in the South Pacific,

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<v Speaker 3>and Tonga lost connection to its only international will subseed

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<v Speaker 3>data cable. The mudslide and landslide that kind of came

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<v Speaker 3>out of the volcanic eruption underwater severed this line and

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<v Speaker 3>Tongo was sort of plunged into a kind of Internet darkness.

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<v Speaker 3>And that started to make me think, well, what is

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<v Speaker 3>it like today for a country or a society or

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<v Speaker 3>an economy to live without the Internet for even a

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<v Speaker 3>brief period. What are these cables like today? How have

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<v Speaker 3>they changed from the time that Neil Stephenson wrote this

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<v Speaker 3>essay in the nineteen nineties. Who lays them now? Who

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<v Speaker 3>owns them now? Has the funding changed? Do governments play

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<v Speaker 3>a different role, similar role? And I kind of wanted

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<v Speaker 3>to find all of this out, and I wanted to

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<v Speaker 3>use Tonga as this kind of little test case of

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<v Speaker 3>what it was like for a country to live without

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<v Speaker 3>the Internet for a while. And that's why I pitched

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<v Speaker 3>the book.

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<v Speaker 1>So there's that famous praise from Ted Stevens, the Senator

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<v Speaker 1>that the Internet is a series of tubes, And yeah,

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<v Speaker 1>it is, though I never understood why everyone made fun

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<v Speaker 1>of the guy. That's literally what we're talking about. It

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<v Speaker 1>is a series of tubes. Okay, maybe they're like pipes

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<v Speaker 1>or cables, but like, it never really seemed that wrong.

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<v Speaker 2>I think the confusion comes with wireless, right where you're

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<v Speaker 2>holding your cell phone and it's like, well, my cell

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<v Speaker 2>phone isn't actually attached anything at the moment, so it's

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<v Speaker 2>hard for people to wrap their heads round.

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<v Speaker 1>I always thought you was unfairly maligned. Talk to us

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<v Speaker 1>about the process, the very simple explanation of how a

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<v Speaker 1>long undersea cable is laid, and how much is it

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<v Speaker 1>fundamentally similar or different to when the first famous telegraph

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<v Speaker 1>cable is laid between New York and London.

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<v Speaker 3>Well, the cables themselves are very different. I mean, the

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<v Speaker 3>first telegraph cable was made of copper and you kind

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<v Speaker 3>of send pulses of electricity through it and that comes

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<v Speaker 3>out of the other end and it's kind of decoded.

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<v Speaker 3>The modern fiber optic cable is a real technological marvel.

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<v Speaker 3>I mean, I haven't stopped marveling yet since I started

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<v Speaker 3>researching this book. The best cables are the ones at

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<v Speaker 3>the bottom of the ocean. Are just a hair thick,

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<v Speaker 3>just literally the thickness of a human hair. They're made

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<v Speaker 3>of highly purified glass and down that cable you send

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<v Speaker 3>sort of little pulses of light lasers essentially, and they

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<v Speaker 3>kind of bounce around the inner walls of the glass

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<v Speaker 3>and they come out at the other end and you

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<v Speaker 3>can decode them. And what they do these days, there's

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<v Speaker 3>a long name for it called wave division multiplexing, where

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<v Speaker 3>they send different frequencies of light encoded with different streams

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<v Speaker 3>of data, and so that kind of bounces around the

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<v Speaker 3>glass at various speeds and then it comes out of

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<v Speaker 3>the other end. You kind of whoop, suck it out

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<v Speaker 3>and you code it all back together and you kind

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<v Speaker 3>of read the information out that way, and that has

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<v Speaker 3>kind of exponentially increasy amount of data that a cable

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<v Speaker 3>can carry to. You know, these cables are produced by

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<v Speaker 3>just a handful of companies around the world, so there's

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<v Speaker 3>a little bottleneck over there in terms of the technological

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<v Speaker 3>capacity to produce these cables. And then there's people who

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<v Speaker 3>find them money for these cables. So that used to

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<v Speaker 3>include state owned telecom companies, then it included private investors

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<v Speaker 3>sort of raising money from a bunch of places. Now,

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<v Speaker 3>as we'll probably talk about, it's mostly big tech companies

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<v Speaker 3>paying for it out of their own wallets because they

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<v Speaker 3>can afford to. And then they would fund the a

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<v Speaker 3>survey ship to go out and see what the best

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<v Speaker 3>route for the cable would be from say London to

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<v Speaker 3>Lisbon to Cape Town to I don't know, the UAE,

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<v Speaker 3>and then the survey ship would come back and give

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<v Speaker 3>you the best possible route, and then the cable laying

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<v Speaker 3>ship would go out make multiple trips and just slowly,

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<v Speaker 3>very slowly lay the cable along exactly that route. And

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<v Speaker 3>you have to do it that way because too fast

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<v Speaker 3>and it might snap. Too slow and there's too much

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<v Speaker 3>slack in the cable, and so you really need to

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<v Speaker 3>kind of find this optimum speed at which to travel.

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<v Speaker 3>And it's really funny there's one company in the entire

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<v Speaker 3>world that makes the kind of software that all these

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<v Speaker 3>cable ships use that determine the ship's part, the ship speed,

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<v Speaker 3>all of this stuff, just so the cable is laid

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<v Speaker 3>just so.

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<v Speaker 1>Just to be a clear quick question, is it basically

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<v Speaker 1>whether we're talking about the Victorian at your cable or now?

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<v Speaker 1>Is it a ship with a giant spool basically that's

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<v Speaker 1>slowly unwine? Does it move?

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<v Speaker 3>That's basically okay, Yeah, I mean that hasn't changed. I

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<v Speaker 3>mean there's a couple of other things that haven't changed over,

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<v Speaker 3>but that definitely hasn't changed. They call them a drum

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<v Speaker 3>or they call it a spool, but essentially wind the

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<v Speaker 3>cable around the spool and then you load it on

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<v Speaker 3>board and then you set off into the high seas,

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<v Speaker 3>So that part of it hasn't changed. Of course, the

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<v Speaker 3>cable is much lighter now, so you can load a

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<v Speaker 3>lot more cable onto it because it's not sort of

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<v Speaker 3>thick metal.

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<v Speaker 2>Sorry, I realized we kind of skipped ahead, but for

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<v Speaker 2>people who who do like to malign Senator Stevens on

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<v Speaker 2>his tube's comment, why is it that we can't just

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<v Speaker 2>send data all through cellular means? Why do we need

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<v Speaker 2>fiber app optic cables at all?

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<v Speaker 3>You can, definitely, I mean, you can use satellites, and

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<v Speaker 3>in fact, satellite phones have been around for a long while.

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<v Speaker 3>Garmin makes all of these satellite enabled devices, and you

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<v Speaker 3>can download weather data and other stuff onto it. It's

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<v Speaker 3>just that the volume, the sheer volume of data that

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<v Speaker 3>we ingest on a daily basis and fill sor a

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<v Speaker 3>bit with enough satellites to take all that data up.

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<v Speaker 3>I mean, think about what it means. It means everybody's

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<v Speaker 3>Netflix streams and everybody's Zoom calls, and everybody's texts and

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<v Speaker 3>phone calls and day trades and PowerPoint presentations that live

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<v Speaker 3>on the cloud, and data servers that serve other kinds

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<v Speaker 3>of things. Everything is essentially on a cloud somewhere, and

0:11:22.520 --> 0:11:25.400
<v Speaker 3>there's so much data out there that there's not enough

0:11:25.440 --> 0:11:26.560
<v Speaker 3>satellites that could process.

0:11:27.120 --> 0:11:29.439
<v Speaker 2>Okay, that makes sense. So the other thing I really

0:11:29.480 --> 0:11:32.480
<v Speaker 2>wanted to ask you is who actually makes these decisions

0:11:32.600 --> 0:11:36.439
<v Speaker 2>about what gets laid and where and who's financing it?

0:11:36.559 --> 0:11:39.320
<v Speaker 2>And I know you mentioned that big tech nowadays pays

0:11:39.360 --> 0:11:41.840
<v Speaker 2>for most of it, But I imagine that must have

0:11:41.960 --> 0:11:44.600
<v Speaker 2>changed throughout time. Right, If we're thinking back to that

0:11:44.640 --> 0:11:48.840
<v Speaker 2>first Transatlantic cable, maybe it was wealthy industrialists trying to

0:11:48.880 --> 0:11:51.080
<v Speaker 2>do something nice for the world. I don't know. Maybe

0:11:51.120 --> 0:11:53.520
<v Speaker 2>it was governments pressing forward with it. More likely it

0:11:53.559 --> 0:11:56.880
<v Speaker 2>was private companies. But the role of who's funding and

0:11:56.920 --> 0:11:59.200
<v Speaker 2>planning these things must have changed throughout time.

0:12:00.040 --> 0:12:02.520
<v Speaker 3>It definitely has. I mean in the eighties and nineties,

0:12:02.880 --> 0:12:05.360
<v Speaker 3>and I mean I mean the nineteen eighties and nineteen nineties,

0:12:05.440 --> 0:12:07.679
<v Speaker 3>a lot of these telecom companies around the world were

0:12:07.679 --> 0:12:11.040
<v Speaker 3>stay owned, and so they would kind of figure out

0:12:11.040 --> 0:12:13.120
<v Speaker 3>that they needed a cable to run from let's say

0:12:13.800 --> 0:12:17.439
<v Speaker 3>London to Portugal, to three African countries and then onwards

0:12:17.440 --> 0:12:20.839
<v Speaker 3>to Singapore as an example. So the telecom companies in

0:12:20.880 --> 0:12:23.320
<v Speaker 3>each of these governments would come together and they would say, well, look,

0:12:23.360 --> 0:12:25.120
<v Speaker 3>this is how we want to lay the cable. This

0:12:25.160 --> 0:12:27.560
<v Speaker 3>is how much money we can put up in return,

0:12:27.640 --> 0:12:30.240
<v Speaker 3>we get this much bandwidth, and we can kind of

0:12:30.280 --> 0:12:33.400
<v Speaker 3>sell that onto our customers. And so these companies would

0:12:33.440 --> 0:12:35.960
<v Speaker 3>form essentially like a consortium, and that was the consortium

0:12:36.000 --> 0:12:38.720
<v Speaker 3>model was popular for a very long time. And then

0:12:38.840 --> 0:12:41.040
<v Speaker 3>nineteen nineties in the early two thousands, you saw this

0:12:41.200 --> 0:12:44.640
<v Speaker 3>wave of privatization around the world. All of these telecom

0:12:44.720 --> 0:12:49.719
<v Speaker 3>companies were hived off into private companies. And suddenly at

0:12:49.760 --> 0:12:52.440
<v Speaker 3>the same time there was also this growth of the

0:12:52.480 --> 0:12:55.360
<v Speaker 3>investor led model. Like an investor would say, this cable

0:12:55.400 --> 0:12:57.920
<v Speaker 3>looks like a good business idea, I will go out

0:12:57.960 --> 0:13:00.440
<v Speaker 3>and raise money. And then I was come back to

0:13:00.440 --> 0:13:02.439
<v Speaker 3>these telecom companies and say, look, I'm willing to lay

0:13:02.440 --> 0:13:04.560
<v Speaker 3>this cable. How much bandwidth do you want to buy

0:13:04.600 --> 0:13:07.840
<v Speaker 3>from me? And they would kind of apportion bandwidth in

0:13:07.880 --> 0:13:10.640
<v Speaker 3>that way. And so that model prevailed for like much

0:13:10.679 --> 0:13:14.000
<v Speaker 3>of the two thousands. And I think it's only about

0:13:14.600 --> 0:13:18.640
<v Speaker 3>seven or eight years ago that big tech companies, by

0:13:18.640 --> 0:13:23.800
<v Speaker 3>which I mean Google, Meta, Amazon, and Microsoft A grew

0:13:23.840 --> 0:13:26.720
<v Speaker 3>so cash rich that they could afford these cables. So,

0:13:26.800 --> 0:13:30.080
<v Speaker 3>for example, a transatlantic cable now from London to New

0:13:30.160 --> 0:13:33.280
<v Speaker 3>York would cost about five hundred million dollars, which there's

0:13:33.320 --> 0:13:35.320
<v Speaker 3>a lot of money still for you and me, but

0:13:35.400 --> 0:13:37.800
<v Speaker 3>maybe not that much for Google. And so they started

0:13:37.800 --> 0:13:40.800
<v Speaker 3>to fund these cables because rightly or wrongly, they thought, look,

0:13:40.920 --> 0:13:42.960
<v Speaker 3>data is the lifeblood of our business, and it makes

0:13:43.000 --> 0:13:46.360
<v Speaker 3>more sense to build this infrastructure ourselves. And so now

0:13:46.400 --> 0:13:48.319
<v Speaker 3>we got to the stage, or when I was researching

0:13:48.360 --> 0:13:51.040
<v Speaker 3>this book, it got to a stage where two out

0:13:51.080 --> 0:13:55.280
<v Speaker 3>of every three new cables were being funded and owned,

0:13:55.400 --> 0:13:57.400
<v Speaker 3>either in part or in full, by one of these

0:13:57.400 --> 0:14:02.040
<v Speaker 3>four tech companies. And that has enormous sort of implications

0:14:02.080 --> 0:14:06.000
<v Speaker 3>for data privacy, data security. I mean rolls your data

0:14:06.160 --> 0:14:08.599
<v Speaker 3>also gets the Internet.

0:14:23.960 --> 0:14:26.320
<v Speaker 1>When the infrastructure of the Internet was first starting to

0:14:26.320 --> 0:14:29.120
<v Speaker 1>be built out, particularly in the nineteen nineties. There's a

0:14:29.160 --> 0:14:32.960
<v Speaker 1>popular parallel to the railway booms, et cetera. And it's

0:14:32.960 --> 0:14:36.760
<v Speaker 1>sort of similar economics and connecting locations and all. That

0:14:37.360 --> 0:14:40.720
<v Speaker 1>rail is kind of a natural monopoly. You know, if

0:14:40.760 --> 0:14:43.680
<v Speaker 1>you want to have a rail between New York and Chicago,

0:14:44.160 --> 0:14:48.080
<v Speaker 1>you don't need five separate tracks owned by separate companies,

0:14:48.120 --> 0:14:50.600
<v Speaker 1>all right next to each other. It's sort of wasteful,

0:14:50.800 --> 0:14:51.280
<v Speaker 1>et cetera.

0:14:51.440 --> 0:14:53.960
<v Speaker 2>Wait, let me just say, as a regular Amtrak commuter,

0:14:54.080 --> 0:14:55.240
<v Speaker 2>I do wish there were.

0:14:55.200 --> 0:14:58.400
<v Speaker 1>Multiple wish there were competition, but there's never gonna be right.

0:14:58.440 --> 0:15:00.480
<v Speaker 1>That'll just never happen. There aren't going to be four

0:15:00.640 --> 0:15:03.200
<v Speaker 1>tracks between a random town and Connecticut, and you're what

0:15:03.320 --> 0:15:06.560
<v Speaker 1>one can dream? One can dream? To what degree do

0:15:06.680 --> 0:15:11.000
<v Speaker 1>the economics of this replicate, how much redundancy is there,

0:15:11.200 --> 0:15:15.200
<v Speaker 1>how many different cables are there, in some cases along

0:15:15.560 --> 0:15:19.240
<v Speaker 1>exactly the same route. To what degree does the natural

0:15:19.240 --> 0:15:21.120
<v Speaker 1>monopoly effect either replicated or not.

0:15:22.440 --> 0:15:25.640
<v Speaker 3>Well, there's a considerable amount of redundancy built in because

0:15:25.640 --> 0:15:29.160
<v Speaker 3>I think the deal here is this, even if Google owns,

0:15:29.200 --> 0:15:33.000
<v Speaker 3>for example, one transatlantic cable, and even if it, let's

0:15:33.000 --> 0:15:37.920
<v Speaker 3>assume hypothetically, it funnels only Google based data through that cable.

0:15:37.960 --> 0:15:40.880
<v Speaker 3>So let's assume funnels Gmail and Google Meets and all

0:15:40.920 --> 0:15:43.720
<v Speaker 3>this other stuff. Only Google data is going through that cable.

0:15:43.840 --> 0:15:46.720
<v Speaker 3>Is this never happens, but we'll let it ride from now,

0:15:47.560 --> 0:15:52.040
<v Speaker 3>It is in Google's best interests to buy redundancy on

0:15:52.080 --> 0:15:54.200
<v Speaker 3>another cable because that cable might go down. And in

0:15:55.120 --> 0:15:57.760
<v Speaker 3>a similar way, it is in Meta's best interest to

0:15:57.800 --> 0:16:00.240
<v Speaker 3>buy redundancy on a Google cable just in case Meta

0:16:00.280 --> 0:16:02.600
<v Speaker 3>a cable goes down. So there's a lot of redundancy

0:16:02.600 --> 0:16:05.600
<v Speaker 3>built into the system. There's between five hundred and five

0:16:05.640 --> 0:16:09.520
<v Speaker 3>hundred and fifty undersea cables around the world, many of

0:16:09.560 --> 0:16:13.560
<v Speaker 3>them are sort of clustered around these not surprisingly these

0:16:13.600 --> 0:16:16.880
<v Speaker 3>big areas of economic activity, so Western Europe to the

0:16:16.880 --> 0:16:21.080
<v Speaker 3>eastern seaboard of the US, Southeast Asia, China and Southeast Asia,

0:16:21.200 --> 0:16:24.760
<v Speaker 3>the Gulf, and then India. So these are heavily traffic

0:16:25.440 --> 0:16:27.440
<v Speaker 3>routes and there's a lot of cables that traffic them

0:16:27.760 --> 0:16:30.760
<v Speaker 3>for the simple reason that redundancy is important. We can

0:16:30.800 --> 0:16:35.120
<v Speaker 3>think about the fact that every year, roughly one hundred

0:16:35.440 --> 0:16:39.119
<v Speaker 3>cables get cut around the world. Most of these are accidents.

0:16:39.400 --> 0:16:42.200
<v Speaker 3>There might be a ship that throws its anchor overboard

0:16:42.280 --> 0:16:44.160
<v Speaker 3>and cuts a cable by accident, or it might be

0:16:44.200 --> 0:16:46.960
<v Speaker 3>that a fishing boat is trawling the seabed and it

0:16:47.000 --> 0:16:49.520
<v Speaker 3>hooks a cable and snags it and cuts it. So

0:16:49.600 --> 0:16:51.720
<v Speaker 3>think about one hundred cuts every year, and yet we

0:16:51.800 --> 0:16:57.560
<v Speaker 3>don't experience nearly that order of internet outages, right, And

0:16:57.600 --> 0:16:59.360
<v Speaker 3>part of the reason is, of course, we have redundancy

0:16:59.360 --> 0:17:01.360
<v Speaker 3>in the form of le cables, which I haven't really

0:17:01.360 --> 0:17:04.439
<v Speaker 3>talked about in this book, but there's cables coming to

0:17:04.480 --> 0:17:07.120
<v Speaker 3>the US from Canada and so on, so that takes

0:17:07.160 --> 0:17:09.760
<v Speaker 3>up a share of the traffic. But also there's redundancy

0:17:09.840 --> 0:17:12.800
<v Speaker 3>in the marine cable ecosystem itself, so like if one

0:17:12.880 --> 0:17:17.000
<v Speaker 3>cable gets cut, there's enough cables crossing the Atlantic, for example,

0:17:17.400 --> 0:17:20.320
<v Speaker 3>to take up the burden of the data that was severed.

0:17:21.640 --> 0:17:23.440
<v Speaker 2>Actually, this reminds me the other thing I wanted to

0:17:23.480 --> 0:17:26.720
<v Speaker 2>ask you is how much does geography play into these decisions?

0:17:26.760 --> 0:17:29.840
<v Speaker 2>Because again going back to that chart, they very much

0:17:29.880 --> 0:17:33.840
<v Speaker 2>resemble shipping lanes, so getting from point A to point

0:17:33.840 --> 0:17:37.840
<v Speaker 2>B presumably as fast and efficiently as possible. But also

0:17:37.960 --> 0:17:41.040
<v Speaker 2>one thing I learned in researching for this episode is

0:17:41.080 --> 0:17:44.920
<v Speaker 2>that Egypt apparently is a big I don't want to

0:17:44.920 --> 0:17:48.760
<v Speaker 2>say choke point, but like a major center for fiber

0:17:48.800 --> 0:17:51.399
<v Speaker 2>optic cables in much the same way that it's a

0:17:51.680 --> 0:17:55.320
<v Speaker 2>major center for containers shipping through the Suez Canal. So

0:17:55.640 --> 0:17:58.720
<v Speaker 2>how much does just pure basic geography actually inform the

0:17:58.720 --> 0:18:01.359
<v Speaker 2>decisions of where these cables get laid.

0:18:02.240 --> 0:18:04.840
<v Speaker 3>Oh, it's a big deal. I mean first, there's under

0:18:05.080 --> 0:18:07.639
<v Speaker 3>sea geography, right, I mean, the topography of the ocean

0:18:07.640 --> 0:18:11.199
<v Speaker 3>floor is obviously not flat flat flat. There are crevasses

0:18:11.200 --> 0:18:13.920
<v Speaker 3>and gorgeos, and there's currents that go one way or another.

0:18:13.960 --> 0:18:18.119
<v Speaker 3>There's like steep lips of rocky cliffs, and so you

0:18:18.160 --> 0:18:21.120
<v Speaker 3>have to kind of avoid all of this. You know, Tonga,

0:18:21.160 --> 0:18:24.960
<v Speaker 3>which I mentioned earlier, has the unfortunate situation of sitting

0:18:24.960 --> 0:18:27.080
<v Speaker 3>in that Pacific Ring of Fire. So there's an underwater

0:18:27.160 --> 0:18:30.879
<v Speaker 3>volcano not far away and that's liable to break its cables,

0:18:30.880 --> 0:18:32.680
<v Speaker 3>and it has in the past, even before the one

0:18:32.680 --> 0:18:36.120
<v Speaker 3>that I talk about. So under sea geology geography big deal.

0:18:36.560 --> 0:18:39.560
<v Speaker 3>But even overseas geography is a massive deal. So for example,

0:18:39.560 --> 0:18:42.240
<v Speaker 3>if you want to come from Asia to Europe as

0:18:42.240 --> 0:18:44.639
<v Speaker 3>with a ship, it's much cheaper to come through this

0:18:44.760 --> 0:18:48.120
<v Speaker 3>West Canal rather than to go around around South Africa.

0:18:48.560 --> 0:18:51.960
<v Speaker 3>And you know, in the Neil Stephenson essay I talked about,

0:18:52.000 --> 0:18:53.320
<v Speaker 3>he makes a big deal out of this is a

0:18:53.560 --> 0:18:57.560
<v Speaker 3>really elegant way. He goes to Alexandria, where a bunch

0:18:57.600 --> 0:19:00.440
<v Speaker 3>of cables are sort of crisscrossing over from Asia to

0:19:00.520 --> 0:19:03.440
<v Speaker 3>Europe and vice versa, and he talks about how Alexandria

0:19:03.520 --> 0:19:06.320
<v Speaker 3>is at that point kind of like a storehouse or

0:19:06.760 --> 0:19:09.399
<v Speaker 3>a hub of information, very similar to how it was

0:19:09.800 --> 0:19:11.680
<v Speaker 3>back in the day when the Library of Alexandria was

0:19:11.720 --> 0:19:15.280
<v Speaker 3>still in place. So there's this parallel with ancient history.

0:19:16.000 --> 0:19:18.439
<v Speaker 3>But you know, Egypt, you bring up Egypt, and Egypt

0:19:18.440 --> 0:19:21.560
<v Speaker 3>is a really good example. The other good example is

0:19:21.560 --> 0:19:23.280
<v Speaker 3>something that's very much in the news now, which is

0:19:23.280 --> 0:19:27.120
<v Speaker 3>the Strait of Hormons. And just as it's very convenient

0:19:27.160 --> 0:19:29.600
<v Speaker 3>for ships to take that path in, so it is

0:19:29.680 --> 0:19:31.680
<v Speaker 3>for cables to take that path in. And the Red

0:19:31.720 --> 0:19:34.280
<v Speaker 3>Sea and the Strait of Hormoves are both chock points,

0:19:34.280 --> 0:19:37.040
<v Speaker 3>as you say again, in which if a malign actors

0:19:37.040 --> 0:19:39.639
<v Speaker 3>sort of wanted to really cripple the global Internet, they

0:19:39.680 --> 0:19:42.119
<v Speaker 3>could go down there, use your lobster drones that you

0:19:42.200 --> 0:19:45.280
<v Speaker 3>talked about, and clip every single cable that runs through

0:19:45.320 --> 0:19:46.400
<v Speaker 3>the ocean floor over there.

0:19:46.920 --> 0:19:48.840
<v Speaker 2>Wait, can I just ask on that? So when I

0:19:48.880 --> 0:19:52.199
<v Speaker 2>look at the map of subc cables going across the

0:19:52.200 --> 0:19:55.159
<v Speaker 2>Strait of Horror Moves, it's like Saudi Arabia connecting to

0:19:55.560 --> 0:19:59.360
<v Speaker 2>I guess Iran. Can they cripple the global Internet by

0:20:00.040 --> 0:20:03.240
<v Speaker 2>apping those cables in particular, or would it just cripple

0:20:03.280 --> 0:20:06.280
<v Speaker 2>the connectivity between the countries that are clustered around there.

0:20:06.880 --> 0:20:10.560
<v Speaker 3>Well, I mean it would definitely impede the countries trusted

0:20:10.600 --> 0:20:12.119
<v Speaker 3>around there. But we also have to remember that the

0:20:12.160 --> 0:20:15.760
<v Speaker 3>Internet doesn't function like a highway in the sense that

0:20:16.200 --> 0:20:19.040
<v Speaker 3>the fastest route between two points is not necessarily the

0:20:19.760 --> 0:20:22.119
<v Speaker 3>shortest route. Okay. So for example, if I'm sitting in

0:20:22.160 --> 0:20:26.720
<v Speaker 3>London and I'm sort of pinging a server in let's

0:20:26.760 --> 0:20:30.399
<v Speaker 3>say Portugal, it may well be that at that particular moment,

0:20:30.440 --> 0:20:33.040
<v Speaker 3>and this router is making the decision for me, the

0:20:33.160 --> 0:20:36.040
<v Speaker 3>shortest route is to France and then onward to Portugal

0:20:36.520 --> 0:20:39.680
<v Speaker 3>by land rather than through sea throughout, I say, okay.

0:20:40.000 --> 0:20:42.560
<v Speaker 3>It may also be that I live in Saudi Arabia,

0:20:42.600 --> 0:20:46.000
<v Speaker 3>but I'm a Gmail user and my Gmail data is

0:20:46.040 --> 0:20:48.280
<v Speaker 3>being stored somewhere else. It's being stored maybe in Western

0:20:48.280 --> 0:20:51.440
<v Speaker 3>europort it's being stored even in the US. You don't

0:20:51.440 --> 0:20:54.359
<v Speaker 3>know which server your data lives on at all, And

0:20:54.400 --> 0:20:57.080
<v Speaker 3>so when you cut a bunch of cables that service

0:20:57.160 --> 0:21:01.200
<v Speaker 3>that particular part of the world, you're also essentially forcing

0:21:01.240 --> 0:21:05.280
<v Speaker 3>the rest of the Internet to reroot itself constantly until

0:21:05.280 --> 0:21:06.359
<v Speaker 3>these cables are fixed.

0:21:07.000 --> 0:21:08.920
<v Speaker 1>How does cable repair work?

0:21:09.920 --> 0:21:12.240
<v Speaker 3>Oh man, it's so old school. I mean, I was

0:21:12.320 --> 0:21:14.960
<v Speaker 3>kind of shocked at this. I thought there would be underwater,

0:21:15.680 --> 0:21:19.280
<v Speaker 3>unmanned underwor vehicles and so on and so forth, But

0:21:19.400 --> 0:21:21.920
<v Speaker 3>actually a lot of it is just exactly how telegraph

0:21:22.000 --> 0:21:24.040
<v Speaker 3>lines were fixed back in the day, which is that

0:21:24.080 --> 0:21:26.280
<v Speaker 3>you send a ship out to where you think the

0:21:26.359 --> 0:21:29.159
<v Speaker 3>cut is. And obviously now our sense of where a

0:21:29.240 --> 0:21:32.280
<v Speaker 3>broken cable might lie is much much sharper than it

0:21:32.359 --> 0:21:34.320
<v Speaker 3>used to be in the eighteen hundreds. But once you

0:21:34.400 --> 0:21:37.560
<v Speaker 3>get there, you throw a grapnel hook overboard and you

0:21:37.640 --> 0:21:40.240
<v Speaker 3>kind of drag it along the seafloor and you hope

0:21:40.240 --> 0:21:42.840
<v Speaker 3>that it snags the cable, and sometimes you have a

0:21:42.880 --> 0:21:44.640
<v Speaker 3>bite and you pull it up and it's caught something

0:21:44.640 --> 0:21:47.159
<v Speaker 3>else entirely, and you chuck it back into the ocean

0:21:47.160 --> 0:21:50.360
<v Speaker 3>and you try again. And so this is essentially how

0:21:50.400 --> 0:21:52.640
<v Speaker 3>all ships do repairs these days. And of course, once

0:21:52.680 --> 0:21:55.800
<v Speaker 3>you get the cable on board, it then jumps back

0:21:55.840 --> 0:21:59.480
<v Speaker 3>into extremely sophisticated gears. So there's a lab on board

0:21:59.520 --> 0:22:02.640
<v Speaker 3>the ship that is built to splice sort of glass

0:22:02.640 --> 0:22:06.919
<v Speaker 3>fiber optic cables together. It's stabilized in a even in

0:22:06.920 --> 0:22:09.760
<v Speaker 3>a very rocky seat, can sort of work with stounding

0:22:09.840 --> 0:22:12.359
<v Speaker 3>levels of stability. There's a clean room, and so you

0:22:12.440 --> 0:22:13.879
<v Speaker 3>kind of do all of this stuff and then you

0:22:14.680 --> 0:22:17.520
<v Speaker 3>carefully laid back into the ocean and the exact coordinates

0:22:17.520 --> 0:22:19.560
<v Speaker 3>where it used to be, and you test it and

0:22:19.600 --> 0:22:21.320
<v Speaker 3>you test it again and again until you make sure

0:22:21.320 --> 0:22:22.080
<v Speaker 3>that it works.

0:22:22.600 --> 0:22:25.680
<v Speaker 2>So we know that cables can be cut, mostly by accident,

0:22:25.760 --> 0:22:28.800
<v Speaker 2>but occasionally by bad actors. But as you mentioned earlier,

0:22:28.800 --> 0:22:33.400
<v Speaker 2>there are redundancies built into the system. What are redundancies

0:22:33.480 --> 0:22:37.760
<v Speaker 2>that I guess were not as attuned to at the moment, Like,

0:22:37.800 --> 0:22:41.520
<v Speaker 2>what are the weaknesses that we should be really thinking about?

0:22:42.920 --> 0:22:44.760
<v Speaker 3>Well, I mean one of the weaknesses. This is not

0:22:44.800 --> 0:22:47.760
<v Speaker 3>a weakness from the Internet's point of view, maybe, although

0:22:48.119 --> 0:22:50.560
<v Speaker 3>some people might beg to defer, but I think this

0:22:50.680 --> 0:22:54.159
<v Speaker 3>earlier point that I raised, which is the dominance of

0:22:54.280 --> 0:22:58.280
<v Speaker 3>four essentially American tech companies in the cable laying world,

0:22:58.640 --> 0:23:01.520
<v Speaker 3>is a weakness in one way. It kind of shrinks

0:23:01.680 --> 0:23:05.400
<v Speaker 3>the Internet because it the Internet then depends on where

0:23:05.440 --> 0:23:08.479
<v Speaker 3>these companies want to lay cables, and people rely on

0:23:08.520 --> 0:23:10.960
<v Speaker 3>them for who's going to get served by the Internet

0:23:10.960 --> 0:23:13.879
<v Speaker 3>and who isn't. There's an example that I cite in

0:23:13.920 --> 0:23:18.240
<v Speaker 3>the book about the longest cable laid anywhere in the world,

0:23:18.280 --> 0:23:20.760
<v Speaker 3>and this is a cable called Too Africa, and it's

0:23:21.000 --> 0:23:24.479
<v Speaker 3>funded and owned I think almost entirely by meta and

0:23:24.560 --> 0:23:27.320
<v Speaker 3>meta therefore I think makes the decisions of well which

0:23:27.400 --> 0:23:32.920
<v Speaker 3>West African countries should we landed now? West African countries

0:23:33.000 --> 0:23:37.240
<v Speaker 3>and Africa in general, they're very underserved by the Internet.

0:23:37.280 --> 0:23:39.480
<v Speaker 3>I mean, this is sort of an Internet deficient population.

0:23:40.040 --> 0:23:42.240
<v Speaker 3>And for any economy today, I think the Internet is

0:23:42.280 --> 0:23:45.960
<v Speaker 3>sort of it's a prerequisite. You can't develop and grow

0:23:46.000 --> 0:23:49.200
<v Speaker 3>without being online as much as everybody else is in

0:23:49.240 --> 0:23:51.879
<v Speaker 3>the West. And so for the government of West Africa,

0:23:52.680 --> 0:23:55.840
<v Speaker 3>of cour Duva, for example, this presents a real dilemma.

0:23:56.320 --> 0:23:59.399
<v Speaker 3>On the one hand, do they welcome Meta in and say,

0:24:00.040 --> 0:24:01.760
<v Speaker 3>you know, of course, feel free to land a cable

0:24:01.760 --> 0:24:04.680
<v Speaker 3>on our shows, but we have these kinds of conditions

0:24:05.080 --> 0:24:09.159
<v Speaker 3>that European countries had. We want our citizens data to

0:24:09.200 --> 0:24:12.919
<v Speaker 3>be stored on servers on our soil, and this is

0:24:12.920 --> 0:24:16.159
<v Speaker 3>something that European countries have been able to demand and

0:24:16.320 --> 0:24:20.240
<v Speaker 3>get quite often. But unfortunately the code the War government

0:24:20.320 --> 0:24:23.960
<v Speaker 3>has much less leverage than any Western European nation. And

0:24:24.000 --> 0:24:26.879
<v Speaker 3>so for example, if for to tell Metabad, it runs

0:24:26.920 --> 0:24:28.840
<v Speaker 3>the risk of Meta saying, well, that's fine, maybe we

0:24:28.840 --> 0:24:30.600
<v Speaker 3>don't want to land in this country after all, and

0:24:31.200 --> 0:24:34.560
<v Speaker 3>loop somewhere else instead, And so then they're a real disemma.

0:24:34.600 --> 0:24:36.399
<v Speaker 3>I mean, do they sort of look out for the

0:24:36.400 --> 0:24:39.360
<v Speaker 3>privacy and data security of their citizens, or do they

0:24:39.480 --> 0:24:42.320
<v Speaker 3>give their citizens expanded Internet access, which is really what

0:24:42.359 --> 0:24:44.800
<v Speaker 3>they're craving. And I think this is a weakness. It

0:24:44.840 --> 0:24:49.000
<v Speaker 3>gives a lie to the old sort of utopian model

0:24:49.040 --> 0:24:53.120
<v Speaker 3>of a free, open Internet, And as in many other

0:24:53.160 --> 0:24:55.840
<v Speaker 3>ways which we talk about all the time these days,

0:24:56.080 --> 0:24:59.159
<v Speaker 3>I think this also actually sort of closes off the

0:24:59.240 --> 0:25:01.920
<v Speaker 3>Internet in some some kind of suffocate certain people who

0:25:01.920 --> 0:25:02.800
<v Speaker 3>want to get online.

0:25:03.840 --> 0:25:06.359
<v Speaker 2>Joe, I was trying to think of a really remote

0:25:06.359 --> 0:25:09.240
<v Speaker 2>place in the world that why not have fiber optic

0:25:09.280 --> 0:25:11.800
<v Speaker 2>cable yet, And so I looked up Carabos and it

0:25:11.880 --> 0:25:14.560
<v Speaker 2>turns out there's a cable that's supposed to have become

0:25:14.640 --> 0:25:18.040
<v Speaker 2>operational funded by the US, Australia and Japan in twenty

0:25:18.119 --> 0:25:20.320
<v Speaker 2>twenty five, but I can't see anything about whether it

0:25:20.359 --> 0:25:21.639
<v Speaker 2>actually did start working.

0:25:22.200 --> 0:25:22.360
<v Speaker 3>There.

0:25:22.400 --> 0:25:25.800
<v Speaker 1>You go, there must be some Chinese company that's competing

0:25:25.880 --> 0:25:29.760
<v Speaker 1>with Meta and all these going to the developing world

0:25:29.880 --> 0:25:32.520
<v Speaker 1>in African Latin and saying don't you don't have to

0:25:32.600 --> 0:25:34.800
<v Speaker 1>trust these big tech giants. We'll do it, and we'll

0:25:34.800 --> 0:25:37.280
<v Speaker 1>do it cheaper, et cetera. That must exist right.

0:25:37.920 --> 0:25:40.040
<v Speaker 3>There is exactly one well, there's two, I think, but

0:25:40.080 --> 0:25:42.720
<v Speaker 3>the main one is called HMN, which is a spin

0:25:42.760 --> 0:25:46.000
<v Speaker 3>off of Huawei, and HMN has been in the cable

0:25:46.000 --> 0:25:47.679
<v Speaker 3>business for a while now, like a thing more than

0:25:47.720 --> 0:25:51.840
<v Speaker 3>a decade, and HMN doesn't really own cables outright. HMN

0:25:52.000 --> 0:25:55.080
<v Speaker 3>is kind of like these two or three big companies,

0:25:55.080 --> 0:25:59.040
<v Speaker 3>including SubCom in the US that lay cables. They kind

0:25:59.040 --> 0:26:01.119
<v Speaker 3>of go out there and they lay the cable for

0:26:01.200 --> 0:26:04.119
<v Speaker 3>a corporate customer, And so you could easily go to

0:26:04.119 --> 0:26:06.520
<v Speaker 3>them and say, why don't you lay our cable instead,

0:26:06.520 --> 0:26:08.440
<v Speaker 3>It will be sort of cheaper than these American companies

0:26:08.840 --> 0:26:12.240
<v Speaker 3>that do it. The problem here is that as for

0:26:12.320 --> 0:26:15.520
<v Speaker 3>the last six or seven years, Chinese tech companies have

0:26:15.600 --> 0:26:19.240
<v Speaker 3>been on sanctions lists around the world after the first

0:26:19.280 --> 0:26:22.560
<v Speaker 3>Trump administration put them there. So to go out and

0:26:22.600 --> 0:26:25.200
<v Speaker 3>engage h Men and to ask Huawei to come and

0:26:25.280 --> 0:26:29.200
<v Speaker 3>lay a cable's to sort of risk going against that

0:26:29.280 --> 0:26:32.920
<v Speaker 3>sanctions list and therefore risk all kinds of punitive measures

0:26:32.920 --> 0:26:35.800
<v Speaker 3>being enforced against you. There used to be a time

0:26:35.920 --> 0:26:38.640
<v Speaker 3>that the idyllic days, about eight or nine years ago,

0:26:39.200 --> 0:26:42.320
<v Speaker 3>when Western companies and Chinese companies will come together in

0:26:42.359 --> 0:26:45.640
<v Speaker 3>consortiums and lay cables jointly. They would kind of bear

0:26:45.760 --> 0:26:48.040
<v Speaker 3>part of the burden and they would figure out who

0:26:48.080 --> 0:26:49.680
<v Speaker 3>is going to do the actual laying and how much

0:26:49.680 --> 0:26:52.639
<v Speaker 3>bandwidth people would get. Two or three of these projects

0:26:53.080 --> 0:26:55.760
<v Speaker 3>have actually been frozen. In one case, the cable has

0:26:55.800 --> 0:26:58.120
<v Speaker 3>actually been laid, but nobody can switch it on because

0:26:58.440 --> 0:27:01.720
<v Speaker 3>the US government doesn't want that happen because the Chinese

0:27:01.720 --> 0:27:05.160
<v Speaker 3>companies involved. In two other cases, I think the mapping

0:27:05.280 --> 0:27:07.239
<v Speaker 3>was done, the funds were committed, and then they had

0:27:07.240 --> 0:27:09.600
<v Speaker 3>to kind of pull everything back. There hasn't been a

0:27:09.640 --> 0:27:13.159
<v Speaker 3>new cable laid between China and the US direct in

0:27:13.280 --> 0:27:16.520
<v Speaker 3>years in years, even though traffic between these two countries

0:27:16.560 --> 0:27:19.160
<v Speaker 3>has never been greater. So you have to route everything

0:27:19.200 --> 0:27:22.280
<v Speaker 3>now through the Philippines or through Singapore. It's like a

0:27:22.440 --> 0:27:25.120
<v Speaker 3>very very long way around to go from Chinese east

0:27:25.119 --> 0:27:27.679
<v Speaker 3>coast to the west coast of the US. So this

0:27:27.760 --> 0:27:30.240
<v Speaker 3>is none of this is of course efficient in any

0:27:30.240 --> 0:27:33.159
<v Speaker 3>way or desirable in any way. But even more than that,

0:27:33.280 --> 0:27:36.439
<v Speaker 3>I think people in the industry start to worry that

0:27:37.359 --> 0:27:40.200
<v Speaker 3>something like kind of bifurcation of the Internet is going

0:27:40.240 --> 0:27:42.879
<v Speaker 3>to start setting in, by which I mean that if

0:27:42.880 --> 0:27:45.120
<v Speaker 3>there's a particular part of the world that needs cabling,

0:27:45.160 --> 0:27:47.880
<v Speaker 3>and Americans want to cable it but don't want Chinese involvement,

0:27:48.160 --> 0:27:50.359
<v Speaker 3>and the Chinese want to cable it as well. There

0:27:50.400 --> 0:27:53.720
<v Speaker 3>will essentially be two parallel cable systems running in that

0:27:53.800 --> 0:27:56.040
<v Speaker 3>part of the world. Now this isn't parallel in the

0:27:56.080 --> 0:27:59.480
<v Speaker 3>sense of redundancy. This is parallel in the sense of superfluity.

0:27:59.800 --> 0:28:01.520
<v Speaker 3>Don't need both of them, and yet you have both

0:28:01.560 --> 0:28:03.400
<v Speaker 3>of them. And so what happens to the Internet there

0:28:03.440 --> 0:28:07.120
<v Speaker 3>doesn't get fractured and split along these two cable systems.

0:28:07.440 --> 0:28:09.560
<v Speaker 3>What then happens to the promise of the Internet, which,

0:28:09.560 --> 0:28:12.000
<v Speaker 3>as we said, was conceived as a free and open

0:28:12.040 --> 0:28:15.359
<v Speaker 3>access kind of system to link the world. And so

0:28:15.440 --> 0:28:18.160
<v Speaker 3>I think there are people in the industry who talked

0:28:18.160 --> 0:28:21.000
<v Speaker 3>to me quite a bit about their anxieties for just

0:28:21.040 --> 0:28:23.240
<v Speaker 3>how the Internet might be biplicated in this way.

0:28:39.240 --> 0:28:42.120
<v Speaker 1>It came up that most of the damage that happens

0:28:42.160 --> 0:28:46.400
<v Speaker 1>to undersea cables is probably by accident, fishermen, whatever. But

0:28:46.560 --> 0:28:50.560
<v Speaker 1>is there a measurable increase in intentional sabotage of cables

0:28:50.600 --> 0:28:51.160
<v Speaker 1>that we've seen.

0:28:52.480 --> 0:28:54.400
<v Speaker 3>I mean, people within the industry seem to think so,

0:28:54.840 --> 0:28:56.880
<v Speaker 3>and I think governments seem to think so as well,

0:28:56.920 --> 0:29:03.200
<v Speaker 3>and so we've seen amping up by many degrees of

0:29:03.280 --> 0:29:06.959
<v Speaker 3>the kinds of protective measures that governments and companies accord

0:29:07.040 --> 0:29:09.360
<v Speaker 3>to these cables. So the UK, where I lived right now,

0:29:09.600 --> 0:29:11.960
<v Speaker 3>a few years ago they announced that they would have

0:29:12.120 --> 0:29:16.240
<v Speaker 3>two military naval vegetable vessels permanently on patrol around the

0:29:16.240 --> 0:29:19.280
<v Speaker 3>island to protect not just under see data cables, but

0:29:19.280 --> 0:29:23.440
<v Speaker 3>also power cables and oil and gas pipelines. The Baltic

0:29:23.520 --> 0:29:26.280
<v Speaker 3>nations and the Scandinavian nations have their coast guard patrols

0:29:26.280 --> 0:29:28.600
<v Speaker 3>and higher alert than ever before because they think Russian

0:29:28.600 --> 0:29:31.840
<v Speaker 3>ships are out there to cut these cables and acts

0:29:31.840 --> 0:29:34.920
<v Speaker 3>of what is known as grey zone warfare. The Taiwanese

0:29:34.920 --> 0:29:38.160
<v Speaker 3>government is paranoid that China will eventually, you know, in

0:29:38.200 --> 0:29:41.440
<v Speaker 3>some kind of act of war, cut every single one

0:29:41.480 --> 0:29:45.400
<v Speaker 3>of the fifteen Internet cables coming from overseas that land

0:29:45.400 --> 0:29:48.080
<v Speaker 3>on Taiwanese shores. So I think there's like a real

0:29:49.000 --> 0:29:53.840
<v Speaker 3>anxiety surrounding this particular act of malicious damage. This of

0:29:53.880 --> 0:29:55.800
<v Speaker 3>course goes along with the fact that there's plenty of

0:29:55.840 --> 0:29:58.760
<v Speaker 3>other anxiety about geopolitical conflict in this day and age.

0:29:58.840 --> 0:30:03.080
<v Speaker 3>But I think countries and governments are acutely aware. That's

0:30:03.080 --> 0:30:07.600
<v Speaker 3>just one extremely effective way of crippling economies that a

0:30:07.640 --> 0:30:11.240
<v Speaker 3>malicious actor could undertake at virtually no little expense.

0:30:12.080 --> 0:30:13.920
<v Speaker 2>So I'm looking at a headline right now that says

0:30:13.920 --> 0:30:18.240
<v Speaker 2>Saudi Arabia, Katar and the UAERE financing competing data corridors

0:30:18.280 --> 0:30:21.720
<v Speaker 2>through Syria, Iraq and East Africa to try to bypass

0:30:21.840 --> 0:30:25.520
<v Speaker 2>the strait oft moves to avoid the problems we've been

0:30:25.520 --> 0:30:30.520
<v Speaker 2>talking about. What are the things that governments or private

0:30:30.520 --> 0:30:34.720
<v Speaker 2>companies can actually do if they're worried about bad actors

0:30:34.760 --> 0:30:37.680
<v Speaker 2>out there who might be attacking this vital infrastructure.

0:30:38.560 --> 0:30:41.320
<v Speaker 3>Well, one thing to do is to build out more redundancy.

0:30:41.360 --> 0:30:43.680
<v Speaker 3>And I don't mean just lay more cables. If you

0:30:43.760 --> 0:30:46.840
<v Speaker 3>look at the map of the telegraph cables of the

0:30:46.960 --> 0:30:49.440
<v Speaker 3>late eighteen hundreds and you look at the current map

0:30:49.600 --> 0:30:53.400
<v Speaker 3>of undersea cables, you see that they're kind of similar.

0:30:53.480 --> 0:30:55.160
<v Speaker 3>I mean, they're almost the same, except for this big

0:30:55.200 --> 0:30:58.120
<v Speaker 3>new thicket of undersea data cables that has come up

0:30:58.120 --> 0:31:00.840
<v Speaker 3>in East Asia and Southeast Asia. And part of the

0:31:00.880 --> 0:31:04.920
<v Speaker 3>reason for that is out of habit or inertia or

0:31:05.520 --> 0:31:09.200
<v Speaker 3>reasons of cost efficiency, cables still land in pretty much

0:31:09.200 --> 0:31:12.160
<v Speaker 3>the same places that they did one hundred years ago.

0:31:12.280 --> 0:31:15.800
<v Speaker 3>So I'm from India, for example, and many, if not all,

0:31:15.920 --> 0:31:18.600
<v Speaker 3>of the undersea data cables that land in India today

0:31:19.120 --> 0:31:21.560
<v Speaker 3>land in Mumbai on the west coast or Chennai on

0:31:21.600 --> 0:31:24.360
<v Speaker 3>the east coast, and that's exactly where the telegraph cables

0:31:24.440 --> 0:31:27.120
<v Speaker 3>used to land a century ago. I asked many people

0:31:27.160 --> 0:31:29.320
<v Speaker 3>as to why this is, and you know, it's just easier.

0:31:29.360 --> 0:31:32.560
<v Speaker 3>You have the data centers there already, there's economies of scales,

0:31:32.600 --> 0:31:34.000
<v Speaker 3>so all you have to do is just get an

0:31:34.000 --> 0:31:36.280
<v Speaker 3>extra cable on there and you have the rest of

0:31:36.320 --> 0:31:39.240
<v Speaker 3>the infrastructure ready to go. But maybe your solution lies

0:31:39.280 --> 0:31:41.880
<v Speaker 3>in finding other places to land, other places in which

0:31:42.360 --> 0:31:45.800
<v Speaker 3>this data infrastructure can be protected. That's one option. The

0:31:45.840 --> 0:31:48.120
<v Speaker 3>other option is exactly what you said right now, which

0:31:48.160 --> 0:31:51.520
<v Speaker 3>is to find alternate roots. But this is not easy either.

0:31:51.560 --> 0:31:54.080
<v Speaker 3>I mean the reason, for example, that all these years

0:31:54.440 --> 0:31:57.480
<v Speaker 3>cable companies continued laying through the Strait of Hormos and

0:31:57.600 --> 0:32:00.160
<v Speaker 3>didn't go through siias because Sitia was a hot and

0:32:00.240 --> 0:32:03.160
<v Speaker 3>for conflict. I mean, it's very difficult to imagine laying

0:32:03.200 --> 0:32:07.520
<v Speaker 3>a cable through Citia circa eight years ago, nine years ago,

0:32:08.080 --> 0:32:11.200
<v Speaker 3>or laying a cable through Iraq circa twenty five years ago,

0:32:11.720 --> 0:32:15.240
<v Speaker 3>or indeed thirty years ago. These were places where geopolitical

0:32:15.360 --> 0:32:18.760
<v Speaker 3>sort of turbulence made it very difficult to ensure the

0:32:18.760 --> 0:32:21.680
<v Speaker 3>security of a cable. But yet, as we see now

0:32:21.720 --> 0:32:23.960
<v Speaker 3>in the headline you read out, people are being forced

0:32:24.320 --> 0:32:26.360
<v Speaker 3>to reconsider these other roots, which I think is a

0:32:26.400 --> 0:32:26.720
<v Speaker 3>good thing.

0:32:26.720 --> 0:32:31.040
<v Speaker 1>As well, you mentioned that it's just not plausible right

0:32:31.080 --> 0:32:35.800
<v Speaker 1>now to replace all of this infrastructure with basically satellite internet.

0:32:35.920 --> 0:32:39.959
<v Speaker 1>The capacity doesn't exist for all kinds of reasons. You know,

0:32:40.120 --> 0:32:42.960
<v Speaker 1>the Elon I was gonna say the Elon Musks of

0:32:43.000 --> 0:32:46.360
<v Speaker 1>the world, but there's actually one Elon Musk, but you know,

0:32:46.560 --> 0:32:48.640
<v Speaker 1>he's sort of in a category of his own in

0:32:48.680 --> 0:32:53.160
<v Speaker 1>many respects. But like, is there a vision other people

0:32:53.280 --> 0:32:56.640
<v Speaker 1>talking about the prospect that one day the entire Internet

0:32:56.680 --> 0:33:00.200
<v Speaker 1>could truly be wireless? I mean, they find way is

0:33:00.280 --> 0:33:04.560
<v Speaker 1>five G, They find ways to optimize wireless connectivity that

0:33:04.600 --> 0:33:07.600
<v Speaker 1>are significantly better than they were five years ago, certainly

0:33:07.640 --> 0:33:11.280
<v Speaker 1>twenty years ago, et cetera. Is anyone talking about a future,

0:33:11.320 --> 0:33:12.600
<v Speaker 1>a post cable future.

0:33:13.760 --> 0:33:15.600
<v Speaker 3>No, I don't think anybody is. And the reason for

0:33:15.640 --> 0:33:17.920
<v Speaker 3>that is, however much satellites have improved, and they have

0:33:18.040 --> 0:33:21.280
<v Speaker 3>a lot. So for example, in the sixteen months in

0:33:21.320 --> 0:33:25.440
<v Speaker 3>which didn't have cabled internet, one of these outlying islands

0:33:25.440 --> 0:33:28.160
<v Speaker 3>of Tonga just relied on starlinks throughout. Yeah, and that

0:33:28.200 --> 0:33:31.000
<v Speaker 3>was very useful. But the problem here is that however

0:33:31.080 --> 0:33:36.240
<v Speaker 3>much satellites improve, our appetite are sheer thirst for data

0:33:36.360 --> 0:33:39.520
<v Speaker 3>is just going to improve exponentially. Yes, we're seeing that

0:33:39.640 --> 0:33:42.360
<v Speaker 3>now with the AI boom and the fact that all

0:33:42.400 --> 0:33:45.040
<v Speaker 3>of this training data is also sitting on servers in

0:33:45.080 --> 0:33:47.400
<v Speaker 3>one place, and we're calling it up on Claude and

0:33:47.480 --> 0:33:50.240
<v Speaker 3>CHATGPT and other kind of engines on our laptop. And

0:33:50.320 --> 0:33:54.200
<v Speaker 3>so this is a new kind of use for data

0:33:54.280 --> 0:33:56.320
<v Speaker 3>and a new kind of data flow that wouldn't have

0:33:56.360 --> 0:33:59.440
<v Speaker 3>existed five years ago. So we've clearly already seen this

0:33:59.520 --> 0:34:03.720
<v Speaker 3>explosion of additional data burdens on the cabling industry. And

0:34:03.800 --> 0:34:08.279
<v Speaker 3>so I think realistically speaking, nobody thinks that we can

0:34:08.400 --> 0:34:11.520
<v Speaker 3>please replace all our data infrastructure with satellites. I think

0:34:11.520 --> 0:34:13.960
<v Speaker 3>cables are here for a good long while.

0:34:14.040 --> 0:34:16.280
<v Speaker 2>Yet this was going to be my next question. Actually,

0:34:16.320 --> 0:34:19.839
<v Speaker 2>So your book came out I think just in October

0:34:20.080 --> 0:34:24.560
<v Speaker 2>of last year, so still relatively new How does the

0:34:24.680 --> 0:34:29.080
<v Speaker 2>rise of AI, the hyperscalers, the data centers actually change

0:34:29.200 --> 0:34:32.600
<v Speaker 2>the trajectory of the subse cable world.

0:34:33.680 --> 0:34:35.600
<v Speaker 3>I don't think it changes the trajectory so much. It

0:34:35.719 --> 0:34:38.120
<v Speaker 3>just kind of accelerates it. I mean, there was already,

0:34:38.160 --> 0:34:40.320
<v Speaker 3>as I mentioned earlier, some of these big tech companies

0:34:40.360 --> 0:34:42.719
<v Speaker 3>that were laying cables of their own. All those big

0:34:42.760 --> 0:34:45.400
<v Speaker 3>tech companies are now engaged in their own kind of

0:34:45.440 --> 0:34:49.400
<v Speaker 3>AI efforts, and often very big, large scale ones of that.

0:34:50.000 --> 0:34:53.960
<v Speaker 3>And so I think, like the need for these cables

0:34:54.080 --> 0:34:55.960
<v Speaker 3>and the need to lay more cables than at a

0:34:56.000 --> 0:34:58.560
<v Speaker 3>faster clip is only going to increase because I think

0:34:58.560 --> 0:35:01.919
<v Speaker 3>you're going to have more AI data centers out there.

0:35:01.960 --> 0:35:04.160
<v Speaker 3>You want to have more flows of data. And so

0:35:04.760 --> 0:35:07.040
<v Speaker 3>people were kind of worried for a little while, maybe

0:35:07.040 --> 0:35:09.200
<v Speaker 3>about five or six years ago. People were talking about

0:35:09.239 --> 0:35:11.560
<v Speaker 3>the fact that maybe there was a lot of cables

0:35:11.560 --> 0:35:13.759
<v Speaker 3>out there right now, and then maybe we didn't need

0:35:13.800 --> 0:35:16.360
<v Speaker 3>to lay any more new cables for the foreseeable future

0:35:16.400 --> 0:35:19.840
<v Speaker 3>because we were kind of set. But the AI boom

0:35:19.880 --> 0:35:22.600
<v Speaker 3>has changed all that. It is also true that the

0:35:22.640 --> 0:35:26.560
<v Speaker 3>cabling industry follows a similar trajectory to the world economy.

0:35:26.560 --> 0:35:29.359
<v Speaker 3>When there's a recession, it goes down. People stop playing

0:35:29.400 --> 0:35:32.840
<v Speaker 3>cables because it's very expensive to finance as a project.

0:35:33.200 --> 0:35:35.880
<v Speaker 3>After the dot com boom, for example, in early two

0:35:35.920 --> 0:35:38.120
<v Speaker 3>thousand and then the dot com bust, there was a

0:35:38.239 --> 0:35:41.120
<v Speaker 3>period of stasis that lasted for almost like five years.

0:35:41.760 --> 0:35:44.000
<v Speaker 3>There was all this extra cabling that had been ordered up,

0:35:44.000 --> 0:35:46.400
<v Speaker 3>but nobody was laying it because it was just too expensive.

0:35:46.800 --> 0:35:48.759
<v Speaker 3>So I think part of it is cyclical, and it

0:35:48.800 --> 0:35:52.440
<v Speaker 3>will follow the trajectory of the economy itself. But I

0:35:52.440 --> 0:35:54.600
<v Speaker 3>think as far as the AI revolution or the I

0:35:54.760 --> 0:35:58.000
<v Speaker 3>boom goes, as long as that persists, I think we'll

0:35:58.040 --> 0:36:01.000
<v Speaker 3>still need to see more and more cables being laid

0:36:01.040 --> 0:36:04.240
<v Speaker 3>just to be able, just to make this entire project possible.

0:36:05.080 --> 0:36:07.680
<v Speaker 1>One last question I have. So one of the reasons

0:36:07.800 --> 0:36:11.920
<v Speaker 1>why cable going back to the old days exists is

0:36:11.960 --> 0:36:16.040
<v Speaker 1>for finance specifically and having information about trading in one

0:36:16.080 --> 0:36:19.520
<v Speaker 1>place another roughly the same time, making markets more efficient.

0:36:19.520 --> 0:36:23.280
<v Speaker 1>Another thing is corporations. They don't use the public Internet

0:36:23.280 --> 0:36:25.920
<v Speaker 1>for a lot of their communications. They use private intranets,

0:36:25.960 --> 0:36:28.919
<v Speaker 1>which are faster and more secure and safer. Are there

0:36:29.000 --> 0:36:33.120
<v Speaker 1>examples of like, I don't know, JP Morgan they have

0:36:33.200 --> 0:36:35.879
<v Speaker 1>offices in London, and they have offices in New York

0:36:36.360 --> 0:36:40.359
<v Speaker 1>wanting to have purely dedicated cables that is not the

0:36:40.360 --> 0:36:45.440
<v Speaker 1>public Internet, but is essentially a very large scale expansion

0:36:45.560 --> 0:36:46.680
<v Speaker 1>of their private Internet.

0:36:47.600 --> 0:36:49.880
<v Speaker 3>No, I don't think that exists yet. I mean there

0:36:49.920 --> 0:36:51.960
<v Speaker 3>have been instances in the past. I think of like

0:36:52.600 --> 0:36:56.359
<v Speaker 3>financiers deciding that they want to lay their own overline cables. Yeah.

0:36:56.400 --> 0:36:58.520
<v Speaker 3>I can't remember which book it was. I think maybe

0:36:58.560 --> 0:37:00.400
<v Speaker 3>it was Rocket Boys, but it was a Michael Lewis

0:37:00.400 --> 0:37:04.479
<v Speaker 3>book that about flustrated Oh flash Boys. Yeah, Flash Boys,

0:37:04.520 --> 0:37:06.880
<v Speaker 3>that's right. That opens with the laying of a cable

0:37:07.040 --> 0:37:09.680
<v Speaker 3>over land, not oversea, not under sea. But you know,

0:37:09.920 --> 0:37:12.480
<v Speaker 3>that does exist. But I think the only sort of

0:37:12.560 --> 0:37:14.600
<v Speaker 3>big entity is that decide that they need their own

0:37:14.640 --> 0:37:17.879
<v Speaker 3>cables and they're gonna lay them and exclude everybody else

0:37:17.920 --> 0:37:21.040
<v Speaker 3>from them are the big militaries of the world. So

0:37:21.040 --> 0:37:24.360
<v Speaker 3>the US military has its own cables, the Chinese military

0:37:24.400 --> 0:37:26.440
<v Speaker 3>has its own cables. They have their own contractors for that,

0:37:27.000 --> 0:37:30.000
<v Speaker 3>and none of the public Internet travels down them whatsoever.

0:37:30.840 --> 0:37:32.520
<v Speaker 2>What's your favorite subc cable?

0:37:34.239 --> 0:37:37.280
<v Speaker 3>Oh man, there's a really short one that almost shouldn't exist.

0:37:37.960 --> 0:37:40.520
<v Speaker 3>Because it's so short, but I feel like it's so

0:37:40.680 --> 0:37:43.360
<v Speaker 3>cute because it does exist. It's I don't know, maybe

0:37:43.880 --> 0:37:46.640
<v Speaker 3>fourteen miles long. I'm looking this up in my book

0:37:46.680 --> 0:37:49.920
<v Speaker 3>now and it goes between the Isle of Man and

0:37:50.000 --> 0:37:52.840
<v Speaker 3>Northern Ireland. It's forty one so it's not super short,

0:37:53.080 --> 0:37:55.720
<v Speaker 3>but it just feels like it's one of those cables

0:37:55.760 --> 0:38:00.000
<v Speaker 3>that that was laid only because it demonstrated just how

0:38:00.000 --> 0:38:02.399
<v Speaker 3>how cost efficiency these technologies were.

0:38:03.080 --> 0:38:05.680
<v Speaker 2>All right, Saman's Supermanium. We're going to have to leave

0:38:05.680 --> 0:38:07.279
<v Speaker 2>it there, but thank you so much for coming on

0:38:07.320 --> 0:38:09.000
<v Speaker 2>odd lots. That was super interesting.

0:38:10.000 --> 0:38:24.560
<v Speaker 3>Thank you so much so, Joe.

0:38:24.600 --> 0:38:27.000
<v Speaker 2>That was fascinating. There's a lot to kind of pick

0:38:27.040 --> 0:38:30.520
<v Speaker 2>over in that discussion. I'm very interested in how we

0:38:30.920 --> 0:38:33.760
<v Speaker 2>I mean, it's sort of a parallel of the global economy,

0:38:33.800 --> 0:38:36.160
<v Speaker 2>isn't it. Where you used to have consortiums who would

0:38:36.160 --> 0:38:38.400
<v Speaker 2>work together to all these things, and now it's just

0:38:38.440 --> 0:38:41.520
<v Speaker 2>sort of one of four very large tech companies that

0:38:41.560 --> 0:38:44.040
<v Speaker 2>are doing most of it. The other thing that I

0:38:44.080 --> 0:38:47.480
<v Speaker 2>was thinking about is just I didn't realize the militaries

0:38:47.520 --> 0:38:49.640
<v Speaker 2>had their own cables. But again, it makes a lot

0:38:49.680 --> 0:38:50.120
<v Speaker 2>of sense.

0:38:50.560 --> 0:38:52.759
<v Speaker 1>Yeah, No, I love that topic. Like I said, I

0:38:52.760 --> 0:38:55.239
<v Speaker 1>still think it's one of like the great marvels, like

0:38:55.400 --> 0:38:56.440
<v Speaker 1>there's a lot of money.

0:38:56.440 --> 0:38:59.360
<v Speaker 2>Except we can't actually marvel at it because it's underneath

0:38:59.360 --> 0:39:01.920
<v Speaker 2>miles and miles of the ocean. Well, you can't go

0:39:01.920 --> 0:39:03.400
<v Speaker 2>and look at it. I have problem.

0:39:03.560 --> 0:39:06.640
<v Speaker 1>I've pulled up the BBC website, for example, and so

0:39:06.719 --> 0:39:09.600
<v Speaker 1>I kind of can appreciate look at that map. No, no,

0:39:09.640 --> 0:39:12.320
<v Speaker 1>I mean I'm literally I've been to web from other countries,

0:39:12.320 --> 0:39:14.879
<v Speaker 1>so I can sort of marvel at the speed with

0:39:14.920 --> 0:39:17.160
<v Speaker 1>which they get to me. It really just blows my mind.

0:39:17.160 --> 0:39:19.840
<v Speaker 1>The other thing that's just from a technical standpoint, not

0:39:19.920 --> 0:39:24.440
<v Speaker 1>an economic or geopolitical standpoint, the fact that like you

0:39:24.520 --> 0:39:27.200
<v Speaker 1>can send a beam of light through a thing and

0:39:27.280 --> 0:39:30.680
<v Speaker 1>it bounces around this tube and then it winds up

0:39:30.760 --> 0:39:35.720
<v Speaker 1>in exactly a configuration that can be recombinated and exactly

0:39:35.800 --> 0:39:39.959
<v Speaker 1>where it starts. That never ceases to blow my mind

0:39:40.000 --> 0:39:40.480
<v Speaker 1>that fact.

0:39:40.800 --> 0:39:43.080
<v Speaker 2>But the other thing I was thinking about was simonth

0:39:43.200 --> 0:39:45.400
<v Speaker 2>mentioned that there was a period where no new subc

0:39:45.560 --> 0:39:48.680
<v Speaker 2>cable was being laid. Yeah, partially because it was a

0:39:48.719 --> 0:39:50.920
<v Speaker 2>recession and people don't want to spend a lot of money,

0:39:51.120 --> 0:39:54.359
<v Speaker 2>but also because it reminded me a lot of electricity

0:39:54.360 --> 0:39:57.799
<v Speaker 2>in the power industry, where like the loads needed by

0:39:57.880 --> 0:40:01.640
<v Speaker 2>the population start to flatline and so we don't really

0:40:01.680 --> 0:40:04.120
<v Speaker 2>invest in it for a while, and then suddenly there's

0:40:04.160 --> 0:40:08.120
<v Speaker 2>a technological advance like AI and suddenly we need to

0:40:08.360 --> 0:40:11.480
<v Speaker 2>We're all thinking about our electricity needs going up. Feels

0:40:11.600 --> 0:40:12.319
<v Speaker 2>very much like that.

0:40:12.440 --> 0:40:14.720
<v Speaker 1>This is the thing about the dot Com era, which

0:40:14.840 --> 0:40:18.439
<v Speaker 1>is that like in two thousand and two he was like, Oh,

0:40:18.480 --> 0:40:20.560
<v Speaker 1>we're never going to use all this cable, and then

0:40:20.600 --> 0:40:22.760
<v Speaker 1>by like three years later, yeah, like building it again.

0:40:22.840 --> 0:40:25.840
<v Speaker 1>But like the dot com era looks much less crazy

0:40:25.880 --> 0:40:29.040
<v Speaker 1>in retrospect because they were all completely correct about how

0:40:29.040 --> 0:40:30.640
<v Speaker 1>big the Internet was going to be and how much

0:40:30.680 --> 0:40:33.120
<v Speaker 1>demand is just it ended up just being a slight

0:40:33.200 --> 0:40:34.920
<v Speaker 1>timing mismatch. More than anything.

0:40:34.680 --> 0:40:38.440
<v Speaker 2>Else, technology can be under hyped and overvalued at a

0:40:38.480 --> 0:40:41.200
<v Speaker 2>single point in time. That's what I keep saying. All right,

0:40:41.239 --> 0:40:43.040
<v Speaker 2>shall we leave it there, Let's leave it there. This

0:40:43.080 --> 0:40:45.440
<v Speaker 2>has been another episode of the All Thoughts podcast. I'm

0:40:45.480 --> 0:40:48.359
<v Speaker 2>Tracy Alloway. You can follow me at Tracy Alloway and.

0:40:48.280 --> 0:40:50.920
<v Speaker 1>I'm Jill wisent Thal. You can follow me at The Stalwart.

0:40:51.120 --> 0:40:53.879
<v Speaker 1>Follow our guests Simon Supermania and he's at some month

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<v Speaker 1>underscore S. Follow our producers Carmen Rodriguez at Carman Armandeshill

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<v Speaker 1>Bennett at Dashbock and kill Brooks at Kilee Brooks. And

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0:41:05.760 --> 0:41:08.000
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0:41:13.000 --> 0:41:15.360
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