Speaker 1: From the heart of where innovation, money and power collive
Speaker 1: in Silicon Valley and beyond. This is Bloomberg Technology with
Speaker 1: Emily jun Emily checking San Francisco, and this is Bloomberg
Speaker 1: Technology coming up in the next hour to day. The
Speaker 1: Supreme Court the United States expressly took away a conscious
Speaker 1: right from the American people that it had already recognized.
Speaker 1: They didn't limit it, they simply took it away. President Biden,
Speaker 1: reacting to an unprecedented moment in American history the Supreme
Speaker 1: Court's decision to overturn Row versus Wade, protests erupting outside
Speaker 1: the High Court as women respond to the news and
Speaker 1: come panties are responding to we'll discuss Plus, the co
Speaker 1: founder of the Buzzy blockchain developers a lot of Labs
Speaker 1: is out with a new crypto cell phone. We'll ask
Speaker 1: him why he's dialing into the world of mobile and
Speaker 1: n f T n YC comes to a clothe We'll
Speaker 1: take a look at the future of n f T
Speaker 1: s As trading slows down, yet n f T companies
Speaker 1: are raking in more funding and more celebrities are jumping
Speaker 1: on the bandwagon. Where's it going? We'll discuss all that
Speaker 1: and more later this hour, but first I want to
Speaker 1: get a look at the markets with Bloomberg's Katie Grydfeld
Speaker 1: and Katie. Despite what's going on in Washington, stocks rebounding
Speaker 1: for their best week in a month. Absolutely, Emily, it
Speaker 1: was a big textbook risk on rally today. Look at
Speaker 1: the SMP five hundred finishing the day over three percent higher.
Speaker 1: A lot of that buying came into the closed tech
Speaker 1: performing even better than NAZAC one hundred, finishing about three
Speaker 1: and a half percent higher on the day. And of course,
Speaker 1: as UH stocks rally, you also saw a bitcoin rally
Speaker 1: as well, bit and actually breaking above remember it had
Speaker 1: been glued to about twenty per coin, finally getting above it.
Speaker 1: All this coming again as yields rose. Textbook rally. But
Speaker 1: let's all get what that meant for the volatility index
Speaker 1: the VIX, if you will, you can see that sort
Speaker 1: of continues to breathe a sigh of relief. Edging down,
Speaker 1: it's still above it's one year average as you can
Speaker 1: see on the chart, but still volatility markets breathing a
Speaker 1: sigh of relief as we finally see risk assets catch
Speaker 1: a bid this week and one of the sucks that
Speaker 1: stuck out to me was Twitter. Actually, it was up
Speaker 1: for its first week in four rallying about five and
Speaker 1: a half percent over the past week. A lot of
Speaker 1: those games came today, even you had an insider report
Speaker 1: that Twitter it's agreed to give Elon Musk more real
Speaker 1: time data, more user data. So maybe Emily, this deal
Speaker 1: will finally go through one day. All right, we shall see.
Speaker 1: Not going to predict anything on that front, Okay, Bloomberg,
Speaker 1: Katie Griffeld, thank you. Meantime, a historic day in Washington,
Speaker 1: the Supreme Court striking down constitutional right to an abortion.
Speaker 1: For more on this decision, how we got here and
Speaker 1: what happens next, I'm joined by Blue Brooks Greg Store,
Speaker 1: who covers the Supreme Court for US. So, Greg, we
Speaker 1: had a feeling this was coming, baked on the leaf
Speaker 1: leak draft opinion from a few months ago. But talk
Speaker 1: to us about how we got here and what has
Speaker 1: actually changed from this moment forward when it comes to
Speaker 1: women's access to abortion. Well, how we got here was
Speaker 1: in large part through three nominees by President Donald Trump,
Speaker 1: two of whom significantly shifted the court to the right
Speaker 1: compared with what it was with their predecessors, and of
Speaker 1: course to those all vacancies happened in an election year
Speaker 1: and Republicans were able to fill them. Both those three
Speaker 1: justices were in the majority today, they tipped the balance. Uh.
Speaker 1: They are the ones that have made this a much
Speaker 1: more conservative court than we had seen previously. Uh. One
Speaker 1: of them, Brett Havanaugh, did put some limits on today's
Speaker 1: decision and a concurring opinion. We can talk about some
Speaker 1: of those, but but really this is a victory for
Speaker 1: those who supported the Trump nominees and wanted them to
Speaker 1: transform the Supreme Court. There is some fine print here,
Speaker 1: as you mentioned, with Justice Kavanaugh and Justice Roberts talked
Speaker 1: to us about what we see in that fine print. Yeah.
Speaker 1: So Chief Justice Roberts did not join the majority in
Speaker 1: saying he would overturn Roge weight. He would have. Uh.
Speaker 1: He agreed with the decision to uphold the Mississippi fifteen
Speaker 1: week band, but he said the Court didn't need to
Speaker 1: go beyond that. In this case, Justice Kavanaugh did vote
Speaker 1: over turned Row, but he added a concurring opinion that
Speaker 1: laid out a few areas where he didn't think the
Speaker 1: Court needed to go or shouldn't go. Among them. He
Speaker 1: said that, uh, if a state were to try to
Speaker 1: ban somebody from traveling to a state that allows abortion. Uh.
Speaker 1: Justice Kavanaugh said that, in his view, would be unconstitutional,
Speaker 1: and since he's really the fifth vote here, that would
Speaker 1: mean that the Supreme Court would not uphold that sort
Speaker 1: of travel band. He also included some language suggesting that
Speaker 1: he felt pretty strongly the Court was not deciding other
Speaker 1: things like whether same the same sex marriage ruling from
Speaker 1: a few years ago was still good law. How have
Speaker 1: the states been reacting to the ruling? I mean, are
Speaker 1: are you know? You know, as as we understand it,
Speaker 1: this could lead to abortion becoming illegal in half of
Speaker 1: US states? How quickly will that happen? As some of
Speaker 1: those very quickly. Some states have already announced abortion is
Speaker 1: is now illegal. Um. You know, thirteen states had the
Speaker 1: so called trigger laws that were designed to take effect
Speaker 1: as soon as the Court said Rose overturned, which it
Speaker 1: did do today. There's some other states that had pre
Speaker 1: existing bands, and there might still be some litigation as
Speaker 1: to whether those pre existing bands are are can be enforced.
Speaker 1: But those twenty six or so states, uh, in pretty
Speaker 1: short order, folks are expecting them to largely ban abortion.
Speaker 1: Al right, Greg, store much to continue to cover here
Speaker 1: in Washington Forest. Thank you, Greg. Now, we've seen new
Speaker 1: Worris companies, including some of the biggest names in tech,
Speaker 1: react to this Supreme Court ruling by saying they'll provide
Speaker 1: travel benefits for employees to access abortion. But my next guess,
Speaker 1: that's not all tech companies can do to help women
Speaker 1: who want the option to navigate a post row world.
Speaker 1: Joining me now is Rebecca Wexler. She is an assistant
Speaker 1: professor at Law of Law at Berkeley Center for Law
Speaker 1: and Technology. So, first of all, Rebecca, you say that
Speaker 1: big tech companies can take a stand, and not necessarily
Speaker 1: in the way we might think. What can big companies
Speaker 1: do in this debate? Absolutely, well, they have to take
Speaker 1: a stand. There is no neutral position. They haven't either
Speaker 1: or choice. They can either protect pregnant people who are
Speaker 1: seeking medical care, or they can help anti abortion prosecutions.
Speaker 1: And there's a couple different ways they can do this.
Speaker 1: What is they have a choice about what kind of
Speaker 1: information they will aid in disseminating to people who are
Speaker 1: pregnant and seek access to medical care. So, how do
Speaker 1: you access medication abortion? How do you access abortion clinics
Speaker 1: across state lines that remain open and functioning. Tech companies
Speaker 1: could choose to uh provide that information, provide free security
Speaker 1: services to websites disseminating that information so they're protected from
Speaker 1: vigilante hackers. Or they could choose to use their content
Speaker 1: moderation policies to shut that information down and censor it
Speaker 1: on the airport of other things that could do as well. Exactly, Well,
Speaker 1: let's talk about it all because you know, a big, something,
Speaker 1: very valuable that big tech companies have is the data.
Speaker 1: And if law enforcement asks for this data, aren't they
Speaker 1: obligated to hand it over by law? Great question. So
Speaker 1: it depends on what law enforcement uses when they ask.
Speaker 1: If law enforcement comes and says pretty please, no, of course,
Speaker 1: they're not required to hand it over. If law enforcement
Speaker 1: comes with a valid warrant, well, then sure a company
Speaker 1: has to comply. But actually, companies are receiving requests for
Speaker 1: data from law enforcement all the time. They have representatives
Speaker 1: that engage in negotiations around those requests, and they can
Speaker 1: choose to be more stringent, a less helpful shall I
Speaker 1: say less providing efficient data distribution to law enforcement. They
Speaker 1: can challenge the scope of even a lawful warrant. There's
Speaker 1: something called emotion to quash. I really love the word quash.
Speaker 1: But Facebook or Meta has done this in the past
Speaker 1: with warrants, taking them to court to say this is overbroad,
Speaker 1: it's a phishing expedition, it's not sufficiently particular. Um and
Speaker 1: the tech companies know generally which laws are claimed to
Speaker 1: be violated when they receive a warrant. So one of
Speaker 1: the things they could do, even in that extreme where
Speaker 1: police are coming with where anti abortion prosecutors are coming
Speaker 1: with valid legal process, the company can also push back
Speaker 1: and assert rights to challenge that process in court. They
Speaker 1: couldn't additionally notify the people whose information is being sought,
Speaker 1: so long as that's not prohibited by the warrant, And
Speaker 1: they could do things before they get to the warrant
Speaker 1: stage that would protect all this data that we're generating
Speaker 1: all the time from being used in anti abortion prosecutions.
Speaker 1: So having end to end encryption for all your communications
Speaker 1: by default, giving warnings to users to say, if you
Speaker 1: choose this communication channel, your data is going to be
Speaker 1: subject to law enforcement surveillance. Storing data locally on users
Speaker 1: devices instead of in the cloud, purging data giving users
Speaker 1: the right to delete data remotely, foregoing using complications analytic
Speaker 1: systems to predict people's early pregnancies and abortions, um, all
Speaker 1: of these things they could be doing. They could say,
Speaker 1: we're not going to store location tracking data for people
Speaker 1: that are traveling near abortion clinics, so there is no
Speaker 1: neutral position. If they collect this data, they store it,
Speaker 1: they make it easy for law enforcement to access. That's
Speaker 1: a choice they're aiding anti abortion prosecutions. Interesting what we
Speaker 1: have heard from some prominent women in technology so far
Speaker 1: today This from Melinda Gates. Today, a government in which
Speaker 1: women have never had an equal voice reached deep into
Speaker 1: the most private corners of a woman's life to tell
Speaker 1: her the choice over what she does with her body
Speaker 1: is no longer her own. This is America taking a step,
Speaker 1: a big step backward. And this from Cheryl Samberg, the
Speaker 1: Supreme Court's ruling jeopardizes the health and lives of millions
Speaker 1: of girls and women across the country. It threatens to
Speaker 1: undo the progress women have made in the workplace and
Speaker 1: strip women of economic power. She also points out that
Speaker 1: this impact women the most with the fewest resources. Now,
Speaker 1: it's one thing for Cheryl Sandberg who's the CEO of
Speaker 1: Meta and yes, she's leaving in September to say this,
Speaker 1: it's another for Meta the company to take a stand.
Speaker 1: What more specifically could a company like Meta, which has
Speaker 1: all of this information about what users are talking about
Speaker 1: to each other in private messages? Um? One more could
Speaker 1: a company like Meta specifically do in this instance to
Speaker 1: take a stand? And what are they actually likely to do?
Speaker 1: Given that these companies the data is their business model, Well,
Speaker 1: they absolutely could take a stand to say that data
Speaker 1: that would subject people to criminal prosecution for abortions is
Speaker 1: going to be treated differently. They have enough data on
Speaker 1: all of us to serve their business model. They don't
Speaker 1: need data about people's private health choices in order to
Speaker 1: make money. So they could cord it off data that
Speaker 1: is going to make people vulnerable to criminal prosecutions and
Speaker 1: say we're going to protect that, we're going to treat
Speaker 1: it differently, we're going to purge it, we're going to
Speaker 1: fight when law enforcement comes to access it. They could
Speaker 1: provide those privacy protections and use their power to reclaim
Speaker 1: some of the privacy from government intrusion that Rowe once
Speaker 1: guaranteed and the court just eviscerated. Do you see a
Speaker 1: wave of warrants, a wave of of lawsuits and demands
Speaker 1: for for this kind of information, from law enforcement, to
Speaker 1: tech companies to startups. Absolutely, the data that we are
Speaker 1: generating in our everyday lives is already being used in
Speaker 1: criminal prosecutions. Fitted data has been used in murder prosecutions.
Speaker 1: People's unencrypted text messages, web search histories, UM chat messages
Speaker 1: have already been used to charge one woman who miscarried
Speaker 1: with feet side and another with murder. So the location data,
Speaker 1: the web search histories, your emails, your communications, your associations,
Speaker 1: all of those are data that law enforcement ken and
Speaker 1: does use and will pursue. This conversation has focused a
Speaker 1: lot on period tracking apps, which is a hugely important issue.
Speaker 1: How are those apps that serve reproductive choice needs going
Speaker 1: to protect people, protect their users? But in fact, it's
Speaker 1: all this other kind of data that will also leave
Speaker 1: people vulnerable UM heartbeat, uh, sleep cycle data. Any any
Speaker 1: of this information can be used as evidence in court
Speaker 1: to convict people of crimes. Interesting alright, Rebecca Wexler, Assistant
Speaker 1: Professor of Law at Berkeley. Professor Wexler, thank you for
Speaker 1: joining us as we were talking about a headline from
Speaker 1: The Washington Post that Google workers can now app I
Speaker 1: to relocate in the aftermath of this decision to overturn
Speaker 1: Row versus Wade that coming from the chief people officer
Speaker 1: at Google, two employees, um will continue to cover more
Speaker 1: headlines as we get them. More still to come. MS
Speaker 1: shares of Twitter rose and the week this after Twitter
Speaker 1: said it sent war user data to Elon Musk, including
Speaker 1: real time information which could allow the Musque team to
Speaker 1: determine how many users are actually bought, which, of course
Speaker 1: Musk has been complaining about. Last week, Musk lawyers sent
Speaker 1: Twitter a letter complaining the data wasn't enough that they
Speaker 1: had sent previously. And hackers have stolen a hundred million
Speaker 1: dollars in an attack on a cryptocurrency bridge, an app
Speaker 1: that lets people s coins between blockchains. Harmony says it's
Speaker 1: working with national authorities and friends especialists who identify the
Speaker 1: hackers and get the money back. So called crypto bridges
Speaker 1: have been seen as particularly vulnerable two hacks, the saga begins.
Speaker 1: That is how Salana is building its newest venture, mobile phones.
Speaker 1: The blockchain is unveiling a cryptophone for Android called Saga,
Speaker 1: along with the Salana Mobile Stack and open source software
Speaker 1: toolkit also for Android. Joining me now, Salana Labs co
Speaker 1: founder on a totally yako venko on a totally thank
Speaker 1: you so much for joining us. So how does launching
Speaker 1: a mobile phone fit into Salona's broader ambition of being
Speaker 1: a pivotal key n f T blockchain. Um, I mean,
Speaker 1: thank you for having me. First of all, it's awesome
Speaker 1: to be here. Um So, phones are everyday device that
Speaker 1: you use. You know, every everybody has one. You probably
Speaker 1: spend more time on your phone than on anything else.
Speaker 1: And the most important part of crypto and these networks
Speaker 1: is self custody. And it's a really complicated piece because
Speaker 1: it involves cryptography, so not a lot of people understand it.
Speaker 1: Not a lot of people actually use, you know, while
Speaker 1: it's like phantom like meta mask around the world. And
Speaker 1: the goal of the phone is to make that experience
Speaker 1: delightful and easy and simple and have the you know,
Speaker 1: the user experience of like Google Pay or something like that.
Speaker 1: You actually had a career in mobile back at Qualcom.
Speaker 1: How long have you been thinking about a crypto mobile phone? Oh?
Speaker 1: I mean as soon as we started working on Salona.
Speaker 1: We kind of felt that, you know, imagine everybody in
Speaker 1: the world using these networks. Of course they're going to
Speaker 1: use them from their phones. And because it involves secrets
Speaker 1: and cryptography, given that it worked a lot on the
Speaker 1: hard row layer of the firmer layer, it's kind of
Speaker 1: obvious to build all of these smarts directly into the
Speaker 1: device itself. So kind of having your hardware wallet be
Speaker 1: your phone just makes a lot of sense. Now, Salana
Speaker 1: has gotten a lot of buzz over the last couple
Speaker 1: of years. More broadly, what is it about Salana that
Speaker 1: you think makes it better than other blockchain? Um, it's
Speaker 1: cheaper and faster, that's about it. And that means developers
Speaker 1: building about three applications can build them for a larger
Speaker 1: number of people, make the more delightful, simpler and easier
Speaker 1: to use, and that is translated into growth everywhere. But like,
Speaker 1: you know, holy moly, n f T s there's fifteen million,
Speaker 1: nearly fifteen million, and f t's minted on Salana. That's
Speaker 1: not something anyone of us expected, but um, it's kind
Speaker 1: of crazy to watch now. Helium has also been trying
Speaker 1: to do something simple similar with wireless for years, but
Speaker 1: you know, they're just now starting a five G pilot.
Speaker 1: They have a deal with Dish. What a Salona think
Speaker 1: it can do better? Here? Are you looking for corporate
Speaker 1: wireless deals along those lines? I mean, I would love
Speaker 1: to take a Helium five G SIM card and plug
Speaker 1: it into Saga. That would be that would be amazing.
Speaker 1: That means this is a cryptophone running on a decentralized
Speaker 1: five gen network. So you know, Salana has been focused
Speaker 1: on more kind of fintech applications, why throw wireless into
Speaker 1: the mix? I think the key part to adoption is
Speaker 1: is making that experience of cryptography simpler for users. It's
Speaker 1: just such a complicated thing. And one of the biggest
Speaker 1: challenges even is even for Web developers like Web three developers,
Speaker 1: they can't build true Web three applications for the big
Speaker 1: app source. So part of the Salani mobile stack is
Speaker 1: a developer friendly app store that doesn't have extractive fees,
Speaker 1: and that's a huge selling point for a lot of doubs.
Speaker 1: Salana has been having issues with congestion. Won't this additionally
Speaker 1: usage make that worse? Um? So, congestion issues that we
Speaker 1: have on the network come from bots, not really from humans,
Speaker 1: and a lot of the performance improvements in one tent
Speaker 1: already showing that a lot of the bugs have been fixed.
Speaker 1: You know, every release just makes the network better and better.
Speaker 1: What else are you doing the fix to fix the
Speaker 1: reliability issues. There's three technologies that are rolling out, so
Speaker 1: they're already implemented in once Out ten and one dot
Speaker 1: ten is already a may not but they're not activated
Speaker 1: by the community yet, and that's going to take then
Speaker 1: over the next several months. And that's quick stakeaway to
Speaker 1: qus and most importantly localized fee markets. So if you
Speaker 1: heard of ethereum and you know how you know there's
Speaker 1: an air drop and all of a sudden transactions costing
Speaker 1: a thousand dollars um. That's something that can be contained
Speaker 1: within an application. So when there's something popular happening in
Speaker 1: one air drop, that doesn't impact Salanta pay for example.
Speaker 1: Now the crypto market is going through this broader quip
Speaker 1: crypto winter, and I'm so curious what your take is
Speaker 1: on that and whether you think this skepticism around digital
Speaker 1: currencies will bleed into the blockchain market. Yeah. I think
Speaker 1: what's been really surprising is that the users that are
Speaker 1: engaging and platforms like magic Heaton haven't slowed down that
Speaker 1: an amount of you know, engagement they're having, how often
Speaker 1: they're participating in mints, and how many of them are
Speaker 1: doing it, that's just keeps growing and growing. So I
Speaker 1: think we're for the first time seeing web experiences they're
Speaker 1: totally decoupled from the price of bitcoin um and I
Speaker 1: think the big deal here is that these are new
Speaker 1: business models. You know, magic Keaton does not make money
Speaker 1: off and at exchange somewhere. It's a purely Web three
Speaker 1: application running on Web three digital assets. Now there's a
Speaker 1: more existential question at play here. We're seeing uh, you know,
Speaker 1: venture capitalists that have plowed money into blockchain technology, big
Speaker 1: backers of Solano. I wonder how you square that with this,
Speaker 1: you know, ethos of decentralization. So I think what actually
Speaker 1: drives decentralization is users that use the network and love
Speaker 1: it and need to run the actual physical hardware because
Speaker 1: they're getting some value out of it. And because of that,
Speaker 1: we've seen the number of nodes in the network, uh,
Speaker 1: you know, breach over half of what a theorem has today,
Speaker 1: so roughly thirty four un it on Salana, and I
Speaker 1: think roughly about six thousand and ethereum, so, you know,
Speaker 1: kind of roughly if you think of it in the
Speaker 1: East term, Salana is as half of the centralized as Ethereum,
Speaker 1: but one of the top three networks at this point.
Speaker 1: Any concerns about d Y d X competing with salana
Speaker 1: um so I think d I d X moved from
Speaker 1: starkware to a Cosmos chain. I mean, I love Cosmo.
Speaker 1: Zaki is an amazing builder. I love that whole community.
Speaker 1: I think that's a perfectly great spot for them for
Speaker 1: the kind of application they're building. All Right, we'll keep
Speaker 1: watching Salana. Co founder Anatole Yaka Venko, thank you. The
Speaker 1: hell and life of women in this nation are now
Speaker 1: at risk, the voiceless. Finally, termination of a pregnancy is
Speaker 1: just their opening act. It's just their front game. I
Speaker 1: don't know what the books that this quarter are going
Speaker 1: to be. All civil rights are under threat. But we'll
Speaker 1: save the lives of millions of children, and it will
Speaker 1: give families hope. It will have huge implications, economic implications
Speaker 1: for families. Takes away their ability to engage fully in
Speaker 1: the economy. This decision is not about abortion. It is
Speaker 1: about power and patriarchal control over women. It pushes it
Speaker 1: back to state legislatures from all across the country. You
Speaker 1: will see certainly a little bit more voter intensity, even
Speaker 1: in uh in swing states and center races this fall.
Speaker 1: A woman's right to choose reproductive freedom is on the
Speaker 1: ballot in November. Welcome back to Bloomberg Technology and Emily
Speaker 1: Changed San Francisco On and get back to today's big story.
Speaker 1: The Supreme Court overturning ro versus Wade, wiping out American
Speaker 1: women's constitutional right to abortion, a ruling that's likely to
Speaker 1: make the procedure illegal in half the country. I want
Speaker 1: to talk about the role of telehealth here and how
Speaker 1: health tech companies can maybe bridge that gap for women
Speaker 1: who want that choice. My next guest is a co
Speaker 1: founder and CEO of Hey Jane and at Home Abortion
Speaker 1: Pill Company, Kiki Friedman. Kiki, thank you so much for
Speaker 1: joining us as someone who runs and at home abortion
Speaker 1: pill company. What is your reaction to this ruling? We
Speaker 1: think the Supreme Court today was absolutely on the wrong
Speaker 1: side of history by overturning Row. These judges are making
Speaker 1: an incredible attack on people's individual liberty, and they're putting
Speaker 1: the help of millions of individuals at risk? UM, the
Speaker 1: decision is coming at a time when the vast majority
Speaker 1: of Americans do support access to safe and legal abortion care,
Speaker 1: and UM, you know, I do think it's important to
Speaker 1: note that abortion is still legal in many seats in
Speaker 1: this country despite what we've seen as a lot of
Speaker 1: confusion around the issue, and that, unlike in the pre
Speaker 1: ro era, to maybe do have access to safe, effective
Speaker 1: abortion pills and the technology to connect with patients to
Speaker 1: give them the worth that they need. So how does
Speaker 1: this decision impact your business model? Are there changes that
Speaker 1: you're having to make right now as a result of
Speaker 1: this law. We will continue operating in all six states
Speaker 1: in which we're currently live. Abortion does remain legal in
Speaker 1: those states. We've strategically positioned ourselves in those states as
Speaker 1: the locations that are likely to absorb the most demand
Speaker 1: after row. UM forecasts are suggesting, for example, a three
Speaker 1: thousand percent increase in out of state travelers speaking abortion
Speaker 1: care in California that numbers early nine thousand percent in Illinois. UM.
Speaker 1: We have grown our team to anticipate that increase in demand,
Speaker 1: and we also plan on launching a new states soon.
Speaker 1: So how do you then protect your customers and your
Speaker 1: employees from being potentially liable depending on where they're coming from.
Speaker 1: Ajane is compliant with all local telemedicine laws. Our patients
Speaker 1: must be in the state where it's legal in order
Speaker 1: to receive care UM, and we follow all of the
Speaker 1: other very nuanced abortion and telemedicine laws within these states.
Speaker 1: What do you see as the future for telemedicine around
Speaker 1: abortion related issues. I mean, I imagine there's going to
Speaker 1: be a big shift, perhaps a whole economy developing around
Speaker 1: this as a result. Yeah, we did see that this year,
Speaker 1: for the first time, medication abortion was over half of
Speaker 1: all abortion treatments in this country. UM. For some contexts.
Speaker 1: The medications have been around since two thousand, very well
Speaker 1: studied UM to be incredibly safe and effective. They have
Speaker 1: a lower adverse reaction it actually than tail. In all,
Speaker 1: we do think that medication abortion and tele medicine abortion
Speaker 1: in particular will become an increasingly important means of access
Speaker 1: UM as clinics become increasingly burdened by the restriction to
Speaker 1: post row they do. It does have a number of
Speaker 1: important benefits. It can reduce the cost, the travel time UM,
Speaker 1: the time way for treatment and so it is likely
Speaker 1: to be an increasingly important part of the acaslands game
Speaker 1: moving forward. Now, this decision is likely to impact poor
Speaker 1: women disproportionately. The hay Jan option is cheaper than a
Speaker 1: medical abortion pill, is still a couple hundred bucks. How
Speaker 1: do you plan to make that available or help poorer
Speaker 1: women who want access to it? Absolutely, financial accessibility is
Speaker 1: paramount to our mission deserving the patients that we need
Speaker 1: to be serving. Our price, as you mentioned, is two
Speaker 1: nine dollars, which is less than half of the national
Speaker 1: average of by fifty. However, still out of reach for many.
Speaker 1: So we do partner with some really wonderful nonprofits called
Speaker 1: abortion funds that offer financial assistance to patients who need it.
Speaker 1: We're also in the process of working on insurance coverage.
Speaker 1: There is some policy work that needs to be done
Speaker 1: there in order for it to be compatible with the
Speaker 1: medicaid model, but we're pushing forward on those changes as
Speaker 1: quickly as we can. Now. I know you just raised
Speaker 1: three point six million dollars from investors. Do you think
Speaker 1: that more investors are going to be interested, more or
Speaker 1: less interested now that we've had this decision. I mean,
Speaker 1: have you heard from investors? Are you getting fresh inbound interest.
Speaker 1: We definitely have seen a spike in interest. I think
Speaker 1: many people living today have only lived in a post
Speaker 1: ro era, and the idea that this fundamental right was
Speaker 1: truly going to be stripped away felt a bit perfected.
Speaker 1: I think that now that people are coming to terms
Speaker 1: with the very stark reality we're facing, there is a
Speaker 1: lot more interest in assisting with solving uh, you know,
Speaker 1: this really critical problem. We've been getting headlines from how
Speaker 1: tech companies are and are not taking a stand about this. Google,
Speaker 1: according to the Washington Post, just told workers they can
Speaker 1: apply for relocation um as a result of the road decision,
Speaker 1: Meta telling workers not to talk about the decision openly.
Speaker 1: That according to the New York Times, what stand do
Speaker 1: you think big tech companies that have access to a
Speaker 1: lot of data and a lot of power, what should
Speaker 1: they be doing? That's a great question. I think the
Speaker 1: number one thing they absolutely must be doing is protecting
Speaker 1: access for their employees. We have seen many a large
Speaker 1: companies step up to support funding for cross state travel
Speaker 1: when needed. I think that's absolutely essential. I think um
Speaker 1: there's also a lot of concerning trends happening with the
Speaker 1: use of data to track abortion patients and providers, and
Speaker 1: to the extent of these countries, companies can mitigate those risks.
Speaker 1: I think, um, they certainly have a moral obligation to
Speaker 1: do so. All right, Kiki Friedman, Hayjane, co founder and CEO,
Speaker 1: thank you for joining us and sharing your perspective. We'll
Speaker 1: be right back with more of Bloomberg Technology after this break.
Speaker 1: Time out for our clip to report, and I want
Speaker 1: to take a look at the week that was with
Speaker 1: our crypto Contributionale Bostic, and it looks like Nale didn't
Speaker 1: end up being too bad a week for crypto this week,
Speaker 1: did it. Yeah, finally we have some green on the
Speaker 1: screen for the crypto crowd. We have about a three
Speaker 1: point five percent jump in Bitcoin over the seven day
Speaker 1: period and even bigger jump Emily, when you look at
Speaker 1: a theory um, you're looking at a twelve percent jump
Speaker 1: over seven days and more than eight percent jump over
Speaker 1: the last twenty four hours. And again that brings you
Speaker 1: above twenty one thousand for bitcoins safely for now and
Speaker 1: above one thousand, two hundred for ethereum, for which a
Speaker 1: lot of n f t s are based on. I
Speaker 1: do want to bring you another chart here and we're
Speaker 1: going to talk about this a lot with our next guest,
Speaker 1: because one area of excitement is uh NBA top shot volumes,
Speaker 1: and if you look at n f T trading volumes,
Speaker 1: you do see them slowing down. The same had been
Speaker 1: true for top Shot, But there is a lot of
Speaker 1: excitement about the application of n f T s, especially
Speaker 1: as it relates to other industries primary early sports. We
Speaker 1: talked about videos yesterday. Let's see how much that can
Speaker 1: keep going on, especially as this big conference in New
Speaker 1: York this week starts to wind down. All right, Shanali,
Speaker 1: thank you. Speaking of n f T S, n f
Speaker 1: T n y C coming to a close, Web three
Speaker 1: and n f T Enthusiast spent the week discussing the
Speaker 1: opportunities and challenges ahead, including for instance, the crypto market
Speaker 1: and n f T trading volume sinking, and yet there
Speaker 1: are some still placing big, big bets on n f
Speaker 1: T marketplaces. My next guest is the CEO of Dapper Labs,
Speaker 1: the popular n f T marketplace behind Crypto Kiddies and
Speaker 1: NBA Top Shot, Rohan Gary Goslow with us now along
Speaker 1: with Channali. So ro Hom, why why are you still bullish?
Speaker 1: On n f T s given the decline in trading volumes. Well,
Speaker 1: you know, we've this is not our first market cycle,
Speaker 1: and we're bullish on n f T s because we think,
Speaker 1: you know, it's crypto and n f T S in
Speaker 1: particular is one of the only areas in tech that
Speaker 1: you know, we've touched about a million NBA fans. There's
Speaker 1: a billion NBA fans out there. There's a thousand x
Speaker 1: growth potential in the market just by building products that
Speaker 1: that people want to use. And UM. N f T
Speaker 1: S to me stand for open digital assets, assets that
Speaker 1: you know, people already spending hundred billion dollars a year
Speaker 1: in digital worlds. UM. The n f T technology lets
Speaker 1: those assets be portable, let's developers build new kinds of
Speaker 1: experiences on them. And the technology for that is just
Speaker 1: now getting to the point of maturity where you know,
Speaker 1: it's good user experiences, low costs, and its scalability with
Speaker 1: blockchains like flow and uh and others helping make NBA
Speaker 1: top Shot successful. So we've taken everything that's powered NBA
Speaker 1: top Shot and recently crossed one point two billion dollars
Speaker 1: and transaction volume there um and and making it available
Speaker 1: to two companies all around the world, from um startups
Speaker 1: to to Fortunate one hundreds. So some of the world's smart,
Speaker 1: smartest folks are are building in this ecosystem that for
Speaker 1: most of us is you know, for most people out
Speaker 1: there is a year and a half two years old.
Speaker 1: UM and uh, and I'm super excited to see, you know,
Speaker 1: the value that's going to be created over the next
Speaker 1: next little while. And some of the biggest athletes and
Speaker 1: celebrities are getting in on it or trying to. You
Speaker 1: just announced a new partnership with Magic Johnson. Tell us
Speaker 1: about that and the role that celebrities and athletes will
Speaker 1: play here. Well, I think n f T S Web
Speaker 1: three in particular is just a way for communities to
Speaker 1: come together and for celebrities or brands to connect with
Speaker 1: their friends in new ways. So Magic really got this
Speaker 1: in a in a in a way that I haven't
Speaker 1: seen many many folks get it immediately, and he jumped in.
Speaker 1: He's he's created a line of U n f T
Speaker 1: S on NBA top shot some of his greatest moments,
Speaker 1: some of the greatest moments from his his history and
Speaker 1: UM he's also put his annotations and and sort of
Speaker 1: his commentary over over these moments and the fans have
Speaker 1: been going crazy, So it's really exciting to see that.
Speaker 1: And UM, it's exciting to see NBA Top Shot become
Speaker 1: kind of a hub for UM. If athletes want to
Speaker 1: engage with their fans, UM, that's where they because that's
Speaker 1: where that's where where the fans already are. UM. And
Speaker 1: then the next interesting thing that we've got coming up
Speaker 1: is the launch of NFL All Day UM with the
Speaker 1: new NFL season, So we're excited to talk about that. Yeah,
Speaker 1: I wanted to ask you more about other sports on
Speaker 1: top of the NBA. The NBA has done so much
Speaker 1: in the n f T world already, but how much
Speaker 1: adoption do you think could expand into the NFL and
Speaker 1: other sports? What's on the horizon? So Dapper Labs, we're
Speaker 1: working on NFL All Day and UH and UFC Strike.
Speaker 1: NFL A Days should launch by the by the beginning
Speaker 1: of the season, and UM, if folks are n l
Speaker 1: A get excited for some real world benefits on real
Speaker 1: world integration between kind of the you know, the NFD
Speaker 1: economy and kind of showing up to to the season
Speaker 1: opener and things like that. But what does that look
Speaker 1: like because on one hand, you do have this virtual
Speaker 1: world and huge communities being formed online. But at what
Speaker 1: point does the rubber hit the road in the real
Speaker 1: world when you were going to sports games. Well, I
Speaker 1: think it goes two ways. One is, people that are
Speaker 1: going to live games, they're going to be earning free
Speaker 1: kinds of n f T we call them UH flow
Speaker 1: attendance tokens or proof of attendance tokens UM, and people
Speaker 1: will even be able to earn different kinds of those
Speaker 1: for dialing into broadcast games and being essentially an engaged
Speaker 1: fan UM and that sort of bridges. That's one way
Speaker 1: to bridge the physical world into the digital world. Give
Speaker 1: folks um something to to do with their kids and
Speaker 1: and and friends as they as they watch the live game,
Speaker 1: give some value back to folks that show up to
Speaker 1: to the arena. And then on the other hand, we
Speaker 1: want to take our best collectors, folks that have spent
Speaker 1: tens of thousands, in some cases hundreds of thousands or
Speaker 1: millions of dollars on on inside the economies of these
Speaker 1: various teams and leagues and show that data to the
Speaker 1: teams and the teams themselves. They want to provide special
Speaker 1: experiences for those folks. These are this is a younger
Speaker 1: generation folks that you know, they might have season tickets
Speaker 1: um or, but but they might want to engage in
Speaker 1: the sport in different ways. They'd rather, you know, have
Speaker 1: a million dollars NBA a top, have a million dollars
Speaker 1: in Lebron moments um than a courtside seat. But still
Speaker 1: when they show up to a game, they expect to
Speaker 1: be treated differently and and this technology allows that because
Speaker 1: it's open and uh, you know, the data is visible
Speaker 1: for for anyone to be able to build on top
Speaker 1: of I love the Warriors, Rohan, but we're baseball fans.
Speaker 1: My kids play baseball. What about baseball? I mean f
Speaker 1: t X is on the uniform of every umpire and
Speaker 1: in Major League Baseball, yeah, I mean them so So
Speaker 1: Dapper Laws doesn't work directly with baseball, but we have
Speaker 1: we have a number of other companies that are building
Speaker 1: interesting products and UM. Like I said, we've opened up
Speaker 1: our tools, so whether it's the Flow blockchain or or
Speaker 1: the Dapper wallet on top um so that you'll you'll
Speaker 1: probably see other companies UM using our tools to build
Speaker 1: their products on top. So you can use the same
Speaker 1: credit card you have loaded up from a top shot
Speaker 1: um to transact in any number of other marketplaces and
Speaker 1: and virtual worlds. Emily was just talking to the co
Speaker 1: founder of Salana. We had Magic eating on earlier in
Speaker 1: the week. There's a lot of conversation about shifting away
Speaker 1: from just Ethereum into Solana and f t s. How
Speaker 1: much are you seeing the n f T community float
Speaker 1: into other chains? Do you think that move is going
Speaker 1: to be more aggressive? I think so, I mean in
Speaker 1: a lot of ways, but it's new community is also
Speaker 1: being created. The community on Ethereum is incredibly strong. There's
Speaker 1: only twenty transactions in the last twenty four hours because
Speaker 1: it's expensive to transact on etherorem, so you end up
Speaker 1: seeing a lot of expensive, high value assets being being transferred,
Speaker 1: whereas on flow it costs for actions of a scent.
Speaker 1: You can sell something for a dollar um and that
Speaker 1: is just much more accessible, much more engaging to folks.
Speaker 1: Um and same things a lot of very low cost um,
Speaker 1: high volume, and and that enables new kinds of user experiences.
Speaker 1: You know, the world that we believe will exist is um.
Speaker 1: Certain things will happen on different networks, just like today
Speaker 1: on the Internet, UM you have you know, Microsoft Azure
Speaker 1: as well as Amazon Web Services. You have UM e
Speaker 1: C two ands three and all of these, and it's
Speaker 1: the developer's job to build on top of them in
Speaker 1: a way that makes its simple for the user. And
Speaker 1: so we've could flow as a computation chain, and that's
Speaker 1: it provides us in a level of um UH both
Speaker 1: low costs, environmental friendlness is by far the most environmental
Speaker 1: friendly blockchain. But at the same time, in NBA top shot,
Speaker 1: you can still spend bitcoin, you can spend ethereum because
Speaker 1: those are great payment networks. And so we think that
Speaker 1: this kind of specialization UM will accelerate in the in
Speaker 1: the so called crypto winter UM but more and more users.
Speaker 1: There's there's a thousand x growth potential in in in
Speaker 1: this in this industry UM, and that's very different, and
Speaker 1: so that's what we're focused on. Okay, let's talk about
Speaker 1: the winter. I know you've been through downturns before. How
Speaker 1: are you evaluating this one in particular, and what's different
Speaker 1: about it and how crypto survives it. I have no
Speaker 1: doubt Crypto has been through multiple downstairs. I mean, you
Speaker 1: guys know that as well. UM, and, like I said,
Speaker 1: it's the only area in tech, one of the only
Speaker 1: areas where there's a direct thousand x increase in terms
Speaker 1: of the market size that we as software developers UM
Speaker 1: can can accelerate just by building products that that people
Speaker 1: you that add value back to fans, and that make
Speaker 1: it easier and easier UM to build on top of
Speaker 1: this technology which is still UM quite quite challenging in
Speaker 1: in many ways. So you know what is different about
Speaker 1: this down turn, it's a generalize downturn rather than uh,
Speaker 1: you know, the last last couple of crypto winters, which
Speaker 1: were sort of specific to to cryptom But at the
Speaker 1: same time we've seen in previous recessions UM the people UH,
Speaker 1: people's mentality changes, but they still want to engage in entertainment.
Speaker 1: They still want to engage in sports and gaming. They
Speaker 1: just want to get more value for their time UM
Speaker 1: with their kids. They're gonna get more value for the
Speaker 1: money they're spending as fans and n f T S
Speaker 1: UM and crypto is all about giving value back to
Speaker 1: the to the fan, giving value back to the UM
Speaker 1: to the user. Because if you spend a dollar in
Speaker 1: a digital world, that's not crypto enabled, You're never going
Speaker 1: to get that dollar back. If you still spend a
Speaker 1: dollar and an n f T, it keeps giving back
Speaker 1: to you um and and at the end of the day,
Speaker 1: it's liquid. You can transfer it, you can keep it
Speaker 1: forever um or you can give it to your kids, whatever,
Speaker 1: whatever it might be. And the ecosystem we're working on
Speaker 1: with our league partners at the NBA, NFL UFC is
Speaker 1: to say, well, look, let this be the backbone of
Speaker 1: a loyalty experience for each of those sports and in
Speaker 1: an environment of a crypto environment of generalized downturn, let's
Speaker 1: give back to the fan. Let's make sports a uh
Speaker 1: excitement um and entertaining activity that they can engage in
Speaker 1: both digital and physical will fascinating. Rohan Gary Goslo, CEO
Speaker 1: of Dapper Labs in Bloomberg's own Shinali Bostic, thank you.
Speaker 1: We'll keep watching. The n s A, one of America's
Speaker 1: most secretive spy agency, is running a summer camp for teenagers,
Speaker 1: many of them across the country. Our reporter Katrina Manson
Speaker 1: joined one of those camps and is back to tell
Speaker 1: the tale. Katrina, what happens at an n s A
Speaker 1: summer camp. My goodness, I mean they say they're trying
Speaker 1: to teach kids cybersecurity and encourage the leaders up tomorrow
Speaker 1: to come and join cybersecurity jobs. The Biden administration sees
Speaker 1: a five hundred thousand shortfall in cybersecurity workers, and this,
Speaker 1: the NSA says, is all to ignite interest in that
Speaker 1: at an early enough age that you can change their
Speaker 1: choices encourage them to become cybersecurity professionals. What happens, my goodness,
Speaker 1: I saw kids programming drones. They were talking coding. Um.
Speaker 1: I know that they had plans for a Jeopardy game
Speaker 1: quiz at the end of the week, and they were
Speaker 1: handing out jen cyber dollars. These are fake money to
Speaker 1: encourage the kids to stay glued. And they try to
Speaker 1: do everything from keep keep lectures short just to ten
Speaker 1: minutes um. And there was a steady supply of snacks
Speaker 1: all day. So are they teaching kids to buy they
Speaker 1: would say not. The n s THEY says, this is
Speaker 1: all about cybersecurity, encouraging especially young women and underrepresented minorities
Speaker 1: to to think about these careers and also boost cyber
Speaker 1: safety for teens who might be susceptible or vulnerable to
Speaker 1: cyber bullying, cyber stalking, those sorts of issues to equip
Speaker 1: them for this modern age. Having said that, although it's
Speaker 1: not a direct recruitment line, UM, kids who have taken
Speaker 1: this have gone on to join the n s A,
Speaker 1: d O d U, s cource and to cyber security
Speaker 1: jobs in the commercial world. UH. They also have changed
Speaker 1: some of the requirements. The NSA doesn't actually teach these
Speaker 1: courses themselves. Institutions apply for funding, but they have to
Speaker 1: hit certain guidelines. One of those is to make sure
Speaker 1: they're teaching the kids to quote unquote think like an adversary.
Speaker 1: They also teach hacking, ethical hacking, they would say, and
Speaker 1: they do discuss ethics. When I spoke to ethics teachers,
Speaker 1: I don't think they were discussing ethical issues at the
Speaker 1: n s A. Behind the n s A, and of
Speaker 1: course there is that Edward Snowden case whose whose locations
Speaker 1: keep coming UM, which raised huge revelations questions about the
Speaker 1: extent of the n s AS surveillance techniques. And I
Speaker 1: think it's fair to see this outreach is part of
Speaker 1: the n s A, which insiders used to call no
Speaker 1: such agency, never say anything. Part of their come out
Speaker 1: part of them coming out into the public eye, um
Speaker 1: and becoming more public facing since well you wonder when
Speaker 1: they're going to start doing summer camps for adults given
Speaker 1: the six hundred thousand jobs. But away bloombergsktra to Manson,
Speaker 1: well you've already done sometime. Thank you so much for
Speaker 1: bringing us that story. That does it for this edition
Speaker 1: of Bloomberg Technology Wall Street Week with my colleague David Weston.
Speaker 1: Coming up next, Larry Summers is with them who called
Speaker 1: the Supreme Court's decision to day appalling. That's next. This
Speaker 1: is Bloomberg