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Speaker 1: From the heart of where Innovation, money and power COLLI

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Speaker 1: in Silicon Valley and beyond. This is Bloomberg Technology with

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Speaker 1: Emily Jay. I'm Emily Chack in San Francisco, and this

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Speaker 1: is Bloomberg Technology coming up in the next hour. Facebook

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Speaker 1: and Instagram officially banned in Russia. A Russian prosecutor calling

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Speaker 1: the meta platforms extremist organizations. The war on disinformation about

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Speaker 1: a war plus discontent at Disney a planned walk out

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Speaker 1: Tuesday over what some call Florida's Don't Say Gay Bill

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Speaker 1: is causing some to question the future of Disney CEO

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Speaker 1: Bob J. Peck and what Serena Williams takes from the

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Speaker 1: court to investing the Tennis Are joins us to talk

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Speaker 1: about her first venture fund and talks about everything from

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Speaker 1: Tom Brady to her own thoughts about retirement and what

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Speaker 1: the Serena Slam of business might be. Russia is ramping

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Speaker 1: up its ban on information of court, banning both Facebook

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Speaker 1: and Instagram. The metal platforms now officially blocked across the country.

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Speaker 1: This is the first time Russia's sweeping extremism law has

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Speaker 1: been used against a foreign tech company, joining me now

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Speaker 1: bluem Works. Kurt Wagner, as well as David Kirkpatrick, founder

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Speaker 1: and editor in chief of Teconomy. Kurt, I want to

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Speaker 1: start with you here, Facebook and Instagram, we're already banned

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Speaker 1: in Russia. How is this different? Yeah, as you pointed out,

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Speaker 1: they were blocked, Um, I believe Instagram was just last

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Speaker 1: week and Facebook has been a couple of weeks now.

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Speaker 1: And and what this does, is my understanding, is that

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Speaker 1: makes it actually um an issue. It's a crime if

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Speaker 1: you are working for one of these companies, If you

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Speaker 1: were supporting one of these companies, you'd be considered supporting,

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Speaker 1: you know, extremist behavior or an extremist corporation. And so

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Speaker 1: I think it's clear if you're an employee that would

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Speaker 1: be a problem. Facebook says that they don't have employees

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Speaker 1: in Russia right now. UM. But I think that raises

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Speaker 1: some questions around what happens if you're an advertiser on

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Speaker 1: one of these platforms, what happens if you're a an

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Speaker 1: investor who owned stock in one of these platforms? Is

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Speaker 1: that considered a financial support of of a meta um

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Speaker 1: in this case? And I think that's somewhat confusing still,

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Speaker 1: but ultimately, you know, it just makes these um the

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Speaker 1: band much more official than just a simple block. A

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Speaker 1: lot of interesting questions there, David, curious for your take

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Speaker 1: on this. It seems to be a rather rare example

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Speaker 1: of Facebook coming off looking like a good guy. It's true. Uh,

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Speaker 1: I think this is the first time I've been on

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Speaker 1: your show in a long time where fundamentally I have

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Speaker 1: to say Facebook is the good guy. Facebook was providing

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Speaker 1: genuine information in Russia. Yes it was banned, but this

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Speaker 1: new legal ruling is turning the screws even tighter. Although

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Speaker 1: we have to be aware, in Russia there really is

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Speaker 1: no legal systems of the type that we know. The

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Speaker 1: courts are simply a rubber stamp for whatever the government decides.

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Speaker 1: So yes, it's true that advertisers or even users or

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Speaker 1: Facebook could be in jeopardy, but given the nature of

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Speaker 1: the way Russia works, if the country, if the government

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Speaker 1: wanted to come down on those people, it could do

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Speaker 1: so for whatever reason it chose. But Facebook, look, the

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Speaker 1: best thing that could happen to them right now would

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Speaker 1: be another AIRBS ring, which would basically show the world

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Speaker 1: that they actually can be used for good things. Because

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Speaker 1: they're in the doghouse for all kinds of reasons. Otherwise, Karl,

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Speaker 1: what are the chances this could lead to criminal charges

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Speaker 1: against Facebook and Instagram employees? I think that's the idea.

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Speaker 1: I believe that if you are, you know, an employees

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Speaker 1: working at the company, um, you could then be accused of,

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Speaker 1: you know, aiding this extremist considered extremist activity right um.

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Speaker 1: Now again, I talked to someone on Facebook earlier this morning.

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Speaker 1: I was told that they don't have employees in the

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Speaker 1: country right now. But it does raise some questions around

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Speaker 1: perhaps Russian nationals who work for Meta or Facebook um

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Speaker 1: in other countries right if they're seen to be working

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Speaker 1: for Meta, maybe they don't live in Russian now, can they?

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Speaker 1: Can they return to Russia at some point? Maybe they

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Speaker 1: have family there? What happens there? So it's definitely a

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Speaker 1: complicated issue, um that is creating, you know, some questions

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Speaker 1: at Meta today. So far, what's up met which is

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Speaker 1: another meta platform, doesn't appear to be blocked, and it

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Speaker 1: doesn't appear that that Twitter and YouTube have fallen under

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Speaker 1: this this law either. David, what do you make of that? Well,

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Speaker 1: I would probably say it's just a matter of time

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Speaker 1: probably in all three cases. Uh, certainly What'sapp has virtue

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Speaker 1: of being invisible to the authorities because it's entirely encrypted,

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Speaker 1: so they can't really see what's happening inside it. Um

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Speaker 1: But I wouldn't be at all surprised if it were

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Speaker 1: later decided that What'sapp constituted a threat. All they have

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Speaker 1: to do was see evidence that it's causing problems for them.

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Speaker 1: Like I said before, the government of Russia can act

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Speaker 1: by FIAT on anything they want any time. And in

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Speaker 1: terms of YouTube in particular, there's been a lot of

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Speaker 1: speculation today that YouTube might be very shortly to experience

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Speaker 1: something very similar to what Facebook and Instagram I've seen Twitter.

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Speaker 1: You know, obviously Twitter would be a very logical candidate

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Speaker 1: for shutdown as well. Karl, what do you make of

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Speaker 1: the fact that Russia hasn't appeared to take official action

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Speaker 1: on these other platforms yet. I would agree with David.

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Speaker 1: I feel like this is just probably a matter of time.

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Speaker 1: But I think the fact that Meta has been so

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Speaker 1: kind of aggressive in policing and cutting off state backed

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Speaker 1: media from Russia. You remember, Emily last week they had

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Speaker 1: this kind of change in policy where if you're in

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Speaker 1: Ukraine you can actually post things kind of wishing violence

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Speaker 1: upon invading Russia forces. I think that alone, that policy,

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Speaker 1: that kind of loophole where they said, hey, normally this

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Speaker 1: would be against the rules, but if you're in Ukraine

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Speaker 1: you can do this. Um. I think that really angered uh,

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Speaker 1: you know, authorities in Russia, and they pointed to that

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Speaker 1: as being a real issue that they seem to be

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Speaker 1: taking a firmer stance on Meta than they are in

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Speaker 1: these other companies. David. Obviously, the bigger question here is

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Speaker 1: what does Russia's Internet start to look like over the

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Speaker 1: long term? Does is this the beginning of a digital

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Speaker 1: iron curtain that will remain down for years? Will there

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Speaker 1: be a totally separate Russian Internet as we have seen

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Speaker 1: in China. Well, actually the answer to that is unequivocally yes. Um,

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Speaker 1: there is a digital iron curtain that has been slowly dropping. Anyway,

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Speaker 1: I think what could result would be even worse than

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Speaker 1: the kind of system that the China has, because at

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Speaker 1: least China is a digitally savvy country at the national level. UM.

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Speaker 1: Russia actually had been re searching in recent years the

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Speaker 1: possibility of changing the way that you are l's actually

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Speaker 1: work so that you wouldn't necessarily be able to type

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Speaker 1: in the same thing. You could type in here and

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Speaker 1: have it go to the same place. That would really

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Speaker 1: be the ultimate example of a different sort of Internet,

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Speaker 1: because even in China, the U r L is all

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Speaker 1: work the same way. But that is where Russia is headed.

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Speaker 1: You can't completely shut down information and still have an

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Speaker 1: Internet as we know, and they are shutting down all

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Speaker 1: information flow to their people. Kurent What are the business

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Speaker 1: implications of this? Obviously, China is such a massive market.

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Speaker 1: Russia is a much smaller market, but certainly still an

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Speaker 1: important one. Yeah, I believe the CFO of Meta, Dave Wayner,

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Speaker 1: said last week at a conference that the total business

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Speaker 1: in Russia between you know, advertisers in the country but

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Speaker 1: then also advertising out of the country trying to reach

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Speaker 1: people within Russia was something about one point five percent

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Speaker 1: of Facebook's total advertising revenue. Now, that's a lot of money,

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Speaker 1: but it's not a massive amount of money. And I

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Speaker 1: wrote in our newsletter last week that I don't know

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Speaker 1: if Meta has the financial incentives to try and you know,

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Speaker 1: bend over backwards to get back into Russia, right whereas uh,

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Speaker 1: you know, they might be willing to make concessions in

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Speaker 1: other parts of the world. I just don't think they're business.

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Speaker 1: Their business is big enough there for them to sacrifice

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Speaker 1: a lot of the stuff that they've been willing to

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Speaker 1: do up till now, and so that's one of the

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Speaker 1: reasons I again agree with David. I'm not sure if

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Speaker 1: if this might be the beginning of a totally different

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Speaker 1: version of the Internet for Russian citizens moving forward. Certainly

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Speaker 1: a fascinating and evolving situation. Kurt Wagner for Bloomberg to

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Speaker 1: Economies David Kirkpatrick, thank you both. Tuesday, Disney employees planned

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Speaker 1: to put their discontent on full display, planning to walk

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Speaker 1: out in protest of Florida's Don't Say Gay Bill, or

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Speaker 1: so It's called, which Governor Ron De Santis hasn't signed

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Speaker 1: yet but is expected to. This bill essentially bands schools

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Speaker 1: from discussing gender issues with children. Disney CEO Bob Kapec

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Speaker 1: initially refused to release an official statement on the bill

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Speaker 1: until last week. Many cast members have been doing mini

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Speaker 1: walkouts every day during their breaks. This will be a

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Speaker 1: much bigger walk out Tuesday, however. Disney hosting a town

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Speaker 1: hall today to try to quell some of this anger internally.

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Speaker 1: For more on what it all means for the future

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Speaker 1: of Disney CEO Bob Kapeck. I'm joined by Lightsheed Partners,

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Speaker 1: Rich Greenfield Rich. Disney is now holding this meeting today

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Speaker 1: to try to cut some of the tension here. What

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Speaker 1: do you make of the fact that Disney employees have

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Speaker 1: been so vocal about their their unhappiness with how Disney

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Speaker 1: CEO Bob Kapec has handled this. Look, We've seen a

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Speaker 1: lot of voicing of feelings among employees of over the

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Speaker 1: course of the last couple of years. I mean, if

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Speaker 1: you think about sort of the furloughing of employees and

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Speaker 1: sort of the layoffs that occurred around the pandemic, I mean,

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Speaker 1: this has been a very difficult couple of year period

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Speaker 1: um for all consumers, are all employees around the world,

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Speaker 1: but certainly for Disney employees, this has been especially challenging. Look,

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Speaker 1: I think the reality is executives and management teams are

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Speaker 1: going to make mistakes. I think the real um hallmark

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Speaker 1: of long term success is whether they recognize those mistakes

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Speaker 1: and pivot quickly. And I think that's what you're seeing

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Speaker 1: here by Disney is pretty rapid change. You know, this

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Speaker 1: is not letting this drag on and sort of addressing

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Speaker 1: the issue very quickly. I can't speak to why the

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Speaker 1: original decision was made and what the logic was, but

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Speaker 1: I think it is comforting that the speed of changing

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Speaker 1: their minds what was swift, because I think that's what

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Speaker 1: really matters. And again, Disney is at this really critical

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Speaker 1: crossroads as Tiger has left at the end of last

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Speaker 1: year and now shape because in full control. I think

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Speaker 1: we're all waiting to see who is Bob Chapick? What

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Speaker 1: is his long term Disney plan? And I guess to

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Speaker 1: your question, Emily, will we get to see it because

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Speaker 1: he's got a year left on his contract, will we

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Speaker 1: get to see Schapick really put in in motion his

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Speaker 1: long term plan? Well? And I guess what I wonder

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Speaker 1: what your answer to that question is, Are these staffers

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Speaker 1: upset enough that this should should should should should give

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Speaker 1: Bob Speck some serious concerns about his job. Look, I

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Speaker 1: think the he must have heard loud and clear how

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Speaker 1: broad based the fear was or concern was around this

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Speaker 1: issue for them to reverse course so publicly, so quickly.

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Speaker 1: Um not to mention the internal meetings and everything that

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Speaker 1: you've seen, but look, Bob Schapick's long term future is

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Speaker 1: going to be most likely judged on the big strategic

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Speaker 1: decisions he makes. What is their plan for Disney Plus?

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Speaker 1: Is it being merged with Hulu? Are they creating one

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Speaker 1: service and really going after or Netflix and trying to

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Speaker 1: become a massive streaming company. Are they really going to

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Speaker 1: focus on just Disney content? Might they sell ESPN and ABC?

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Speaker 1: Like why are they in the sports business? You know,

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Speaker 1: sports is not a business that you can scale. You

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Speaker 1: can't own the content. You know, the NFL owns the NFL,

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Speaker 1: not Disney. Uh. You know, if you think about the UFC,

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Speaker 1: which has been the biggest piece of of ESPN Plus

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Speaker 1: that's owned by Endeavor E d Er public company. So

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Speaker 1: you sort of get back to, like, why is Disney

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Speaker 1: in some of these businesses and what is this long

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Speaker 1: term strategy? There is no doubt Bob Iger set in

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Speaker 1: motion and tremendous you know, ramp in Disney Plus subscribers.

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Speaker 1: But as you look at where we are now and

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Speaker 1: look out over the course of the next five to

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Speaker 1: ten years, the question is is what does Disney want

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Speaker 1: to be when it grows up in streaming? Does it

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Speaker 1: want to be something for everyone? Like Netflix, or does

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Speaker 1: it really want to stick to its core franchises and verticals,

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Speaker 1: which is probably a smaller but also very successful and

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Speaker 1: very profitable busines. This if you scaled that, what do

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Speaker 1: you make of the Eiger side of this story? You know,

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Speaker 1: the fact that Iger doesn't disagree with doesn't agree with this,

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Speaker 1: this position, that SHAPEC initially took that thing, reportedly no

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Speaker 1: longer talk Oiger and Spec. I mean, the speculation going

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Speaker 1: so far. You know, some I'm saying I could replace

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Speaker 1: Bob Speck, which I believe Bob Iger has has said

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Speaker 1: that's ridiculous. Um, But you know, we're in a rapidly

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Speaker 1: evolving situation here. Look, this has been a relatively challenging,

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Speaker 1: you know, couple of years, I think for any executive

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Speaker 1: going through the pandemic, a lot of layoffs, a lot

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Speaker 1: of change, closing down operations. I mean, look even I

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Speaker 1: think Shanghai Disney World just closed down again just today.

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Speaker 1: I believe, so this is sort of a never ending

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Speaker 1: saga that impacts employees and creates a lot of emotion.

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Speaker 1: We're obviously living in a social media world where people

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Speaker 1: can express their views about how they feel very visibly.

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Speaker 1: Look in terms of Iger verse a pick. You know,

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Speaker 1: I don't really know what to say other than you know,

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Speaker 1: Bob Iger's gone, Shaping is now in charge, and the

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Speaker 1: question is going to be I don't think what Bob

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Speaker 1: Iger feels or doesn't feel anymore matters. I think what

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Speaker 1: really matters is what does the board think and what

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Speaker 1: does shareholders think? You know, at the end of the day,

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Speaker 1: the stock obviously is down a lot. Investors are concerned

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Speaker 1: that they don't really understand what the strategy is. You know,

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Speaker 1: are they going after Netflix or is this more of

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Speaker 1: a Disney focus service. I mean, we've been Disney has

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Speaker 1: effectively been dragging its feet on Hulu. Comcast owns a

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Speaker 1: third of it. What is the Hulu plan? Is it

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Speaker 1: all about being rolled in and creating one mega service

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Speaker 1: or are they going to continue to run three streaming service?

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Speaker 1: Remember there's Disney plus, there's Hulu, and there's the ESPN plus.

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Speaker 1: It seems from a consumer standpoint, having multiple log ins,

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Speaker 1: multiple different interfaces seems suboptimal. Obviously part of that is

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Speaker 1: Comcast fault and sort of battling over price. But if

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Speaker 1: you think about what I did when he came in,

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Speaker 1: he made a very important strategic decision that shaped the

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Speaker 1: entire future of his run as CEO. He bought Pixar,

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Speaker 1: and that was a tremendous acquisition that completely changed how

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Speaker 1: investors thought about the Walt Disney Company and the content

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Speaker 1: and the I P and the rest is obviously history.

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Speaker 1: The question for Shapeck is, you know, do you KEEPSPN?

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Speaker 1: Do you keep ABC? Do you want to be in

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Speaker 1: the general entertainment business? Do you emerge huluin with Disney plus?

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Speaker 1: The KEEPESPN plus? Like, all of these are these big

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Speaker 1: strategic decisions. I think we're gonna get a lot of

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Speaker 1: answers about all of this over the course of the

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Speaker 1: next nine months. But I think the stock is somewhat struggling,

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Speaker 1: and I think we're struggling with the stock not knowing

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Speaker 1: exactly what Shape's gonna do. So we'll be seeing just

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Speaker 1: how big this walk out from employees is Tuesday. But

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Speaker 1: do you think this blowback could spread to consumers? Obviously

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Speaker 1: there's been some discontent with the Genie reservation system, the

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Speaker 1: sky high pricing um, the star Wood Star Wars hotel.

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Speaker 1: Could assumers revolt? Look, you know, my partner Brandon Ross

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Speaker 1: at Lightshed covers the live entertainment in business, you know,

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Speaker 1: like you think I think you had. Michael Roupino's been

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Speaker 1: talking pretty openly Live Nation about just the incredible demand

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Speaker 1: for concert tickets even with rising you know, gas prices.

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Speaker 1: I mean, you've just seen incredible demand for experiences. Disney

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Speaker 1: World is literally packed to the gills. Margins are moving

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Speaker 1: to levels we haven't seen in years, if ever eventually,

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Speaker 1: and so like, look, there's always risk. I think if

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Speaker 1: Disney probably hadn't reverse course and sort of addressed the

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Speaker 1: concerns of employees very quickly, sure, I think anything was possible.

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Speaker 1: I think the real issue is going to be right now,

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Speaker 1: they're raising pricing and taking advantage of this environment. I mean,

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Speaker 1: inflation is obviously rising, and I think they're literally looking

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Speaker 1: at demand. They can't keep the parks, they can't handle

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Speaker 1: the demand, and I think that's partly why they're taking

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Speaker 1: advantage and raising price. But investors, they're not worried emily

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Speaker 1: about the parks. Investors have one concern. They're only worried

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Speaker 1: about Disney Plus and what is the streaming long term strategy.

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Speaker 1: And that's what we're gonna be hoping to hear from

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Speaker 1: Shape when he holds an analyst meeting later this month, right,

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Speaker 1: and of course we'll see how long of a chance

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Speaker 1: he gets to prove himself rich. Greenfield of Light Shed Partners,

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Speaker 1: thank you as always for Wayne. And now to a

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Speaker 1: MC flipping the script, the entertainment Giant announcing it's buying

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Speaker 1: of a golden silver mining company, an unorthodox move for

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Speaker 1: the world's largest movie theater chain and a past darling

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Speaker 1: of meme stock investors, bloomber Quick takes aux Web explains

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Speaker 1: why is Cinema Chain investing in gold During the AMC

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Speaker 1: it was a big meme stock last year. The market

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Speaker 1: capitalization jumped from a four billion dollars to more than

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Speaker 1: thirty billion dollars in the space of just a few weeks. Well,

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Speaker 1: the CEO Adam Artan has just announced plans to invest

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Speaker 1: about thirty million dollars in a gold mine, and it

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Speaker 1: says something quite interesting about how he perceives his own

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Speaker 1: company's prospects. You see, the role of CEO is often

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Speaker 1: to do with capital allocation. In other words, how you

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Speaker 1: spend your investors money in a way that will generate

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Speaker 1: the best possible returns for men. And usually you can

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Speaker 1: do one of three things. You can either invest in

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Speaker 1: the existing business by opening new locations, investing in innovations,

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Speaker 1: adding new headcount. You can think about acquiring a company

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Speaker 1: that will then play well with your existing companies and

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Speaker 1: the two firms work better together than they would on

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Speaker 1: their own. Thirdly, you can just return that money to investors.

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Speaker 1: Now he's not opting to do any of those things.

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Speaker 1: Returning money to investors would be a strange choice because

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Speaker 1: he only raised from them last year. And besides, a

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Speaker 1: MC trades at a considerable premium to its competitors, so

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Speaker 1: it's not necessarily buying shares at a sable christ when

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Speaker 1: it comes to investing adjacent dials or the existing business.

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Speaker 1: He's sort of telling investors that I can't find a

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Speaker 1: way of generating as good a return as I could

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Speaker 1: by investing in this gold mine. In other words, the

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Speaker 1: implicit suggestion is cinema business is not very good and

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Speaker 1: you should put your money elsewhere. He's just cutting out

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Speaker 1: of the middleman and doing it himself. Are Alex Web.

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Speaker 1: They're coming up from the tennis court to VC. We're

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Speaker 1: gonna hear from Serena Williams about how she plans to

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Speaker 1: find the next generation of startup Champ, Welcome back to

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Speaker 1: Bloomore Technology and Emily Changes in San Francisco. Let's get

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Speaker 1: back to the markets enter at Ludlow's taking a look

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Speaker 1: at Chinese tech companies, which have had another rough day

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Speaker 1: in US trading. I take it away, Yeah, I think

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Speaker 1: if there was a pocket of pain on Monday, it

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Speaker 1: was in the US listed shares of Chinese technology companies,

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Speaker 1: in other words, a d R S. And for everything

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Speaker 1: going on in the world right the outlook for the

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Speaker 1: Federal Reserve and rates, what's happening in Ukraine and the

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Speaker 1: conflict with Russia, and global commodity prices, you have to

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Speaker 1: remember you have a bit of sympathy for those investors

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Speaker 1: out there that like Chinese tech companies because they've also

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Speaker 1: got a track what's going on with policymakers in China.

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Speaker 1: These stocks have been fluctuating all over the place. Another

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Speaker 1: down day Monday, down four percent, really underperforming broader indices

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Speaker 1: here in the United States, broadered moves in technology. So

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Speaker 1: where we've been left, Mrs Director, to bring up the

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Speaker 1: next table, please, is a situation where Wall Street and

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Speaker 1: Cellside analysts aren't getting it right on their forecast for

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Speaker 1: the price of these US listed Chinese companies. We're talking

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Speaker 1: about big names here, right, Ali Barbera, j D dot Com,

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Speaker 1: Billy Billy, ten Cent Music. And what this board shows

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Speaker 1: is the percentage difference from the current price where the

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Speaker 1: share prices are actually right now, versus the highest price

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Speaker 1: target and the lowest price target on the street. So

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Speaker 1: let's just take Ali Barbara as one example, versus the

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Speaker 1: price of where we are on our on Monday. The

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Speaker 1: highest street target is a hundred and sixty three above

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Speaker 1: where those shares closed, the lowest below where we are now.

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Speaker 1: And it was all about a change of tone from policymakers.

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Speaker 1: And you and I have been talking for a year

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Speaker 1: about Chinese regulators clamping down on technology and internet companies

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Speaker 1: in that country. What happened last Wenday Wednesday? Bring up

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Speaker 1: the next board that the Golden Dragon Index, that kind

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Speaker 1: of basket of U S s is Chinese stocks massively

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Speaker 1: underperforming and then wash thirty gain in a single day.

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Speaker 1: Why because policymakers came out and said that they were

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Speaker 1: going to be more supportive these companies and make a

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Speaker 1: real downward push in the stock market. So I have

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Speaker 1: a bit of sympathy and have some sympathy for these

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Speaker 1: Wall Street names that are really struggling to get it right.

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Speaker 1: I'll try to muster something sympathy and thank you, Tennis

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Speaker 1: legend that Serena Williams has raised a hundred eleven million

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Speaker 1: dollars in her inaugural venture capital fund, the goal to

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Speaker 1: find the next generation of champions from underrepresented backgrounds. Williams

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Speaker 1: has been investing in earliest start up for nine years,

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Speaker 1: but this is the first time she has raised outside capital.

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Speaker 1: I caught up with Williams and her partner Alice and

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Speaker 1: Rappaport Stillman to talk about where they think a new

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Speaker 1: class of startup stars can be found. Take a listen,

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Speaker 1: we don't check just one box. We really are looking

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Speaker 1: forward to well well health and wellness, film tech as

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Speaker 1: well as fintech. Obviously we're the crypto space and the

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Speaker 1: Web three space and n f t s are something

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Speaker 1: that is on everyone's mind. And um, I don't think

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Speaker 1: you can really have a VC firm and not have

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Speaker 1: some really big part of that into into big car

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Speaker 1: your fum into that part of the Web three space.

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Speaker 1: So um, we're kind of like looking in those particular areas.

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Speaker 1: Now you've been the greatest of all time in tennis

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Speaker 1: for so long, but in venture capital, you've kind of

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Speaker 1: been in stealth mode or under the radar, and a

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Speaker 1: lot of a lot of celebrities and athletes don't necessarily

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Speaker 1: get taken seriously here unless they're investing directly in the craft.

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Speaker 1: Is there something motivating or energizing about trying to prove

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Speaker 1: yourself at something new. Yes, And honestly, that's one of

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Speaker 1: the reasons I have been investing so long, and I

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Speaker 1: have been in stealth mode for so long, because I

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Speaker 1: feel like, you know, whether it's an entertainer or it's

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Speaker 1: an athlete, when we try to do something different, it's

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Speaker 1: seen as more of an opportunity as instead of a passion.

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Speaker 1: This is actually a passion of mine. I wake up

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Speaker 1: every morning thinking, oh my gosh, I cannot wait to

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Speaker 1: open my computer and look at decks or just talk

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Speaker 1: to the company, or just see how what we're gonna

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Speaker 1: do today. Um. And it's something that is I'm super

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Speaker 1: passionate about and I just genuinely have so much fun

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Speaker 1: with it. Um. But yeah, that's also another reason why

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Speaker 1: I was operating in stealth. I really wanted to build

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Speaker 1: my portfolio. I wanted to build my track record, So

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Speaker 1: when people have questions, I would say, you know, we

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Speaker 1: can just go to our track record, to go to

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Speaker 1: our data room and kind of see what we've done

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Speaker 1: in the past, and it gives you a glimpse of

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Speaker 1: when we do have bigger fund and being able to

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Speaker 1: write those big checks, what will actually you do in

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Speaker 1: the future. Now, Alison, there's a lot of money flowing

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Speaker 1: into the venture capital ecosystem, a lot of competitors out there,

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Speaker 1: and vcs often claim they have a unique network. Your

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Speaker 1: network with Serena's would seem to be unparalleled. How does

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Speaker 1: that come to life on behalf of your startups? Are

430
00:24:17,640 --> 00:24:20,639
Speaker 1: there any examples you can share? Yeah, one of the

431
00:24:20,640 --> 00:24:23,320
Speaker 1: great things we're able to do is leverage the network

432
00:24:23,359 --> 00:24:26,040
Speaker 1: that Serena's built for the twenty plus years in her career.

433
00:24:26,560 --> 00:24:29,879
Speaker 1: UM for behind the scenes connections obviously has lots of

434
00:24:29,920 --> 00:24:32,919
Speaker 1: followers and being on Instagram or something like that is great.

435
00:24:33,080 --> 00:24:35,520
Speaker 1: But when we can connect someone to the head of

436
00:24:35,800 --> 00:24:37,400
Speaker 1: you know, the head of E. S. G At Nike,

437
00:24:37,640 --> 00:24:39,840
Speaker 1: or we can kind of connect someone to someone at

438
00:24:39,880 --> 00:24:42,760
Speaker 1: Amazon or Procter and Gamble, those are people that she's

439
00:24:42,760 --> 00:24:45,080
Speaker 1: in partnered with for a really long time, but are

440
00:24:45,160 --> 00:24:49,560
Speaker 1: either business development opportunities, potential acquirers, or long of them

441
00:24:49,560 --> 00:24:52,360
Speaker 1: are investing themselves in startups in the space. So we've

442
00:24:52,400 --> 00:24:54,880
Speaker 1: been doing a lot of work with that. You said yourself, Serena,

443
00:24:54,960 --> 00:24:57,320
Speaker 1: you don't like to lose. What do you take from

444
00:24:57,359 --> 00:25:02,280
Speaker 1: the court to investing, So that's a good question. You know,

445
00:25:02,320 --> 00:25:05,560
Speaker 1: it's really about having a winning attitude and really just

446
00:25:05,640 --> 00:25:09,280
Speaker 1: about um understanding that you have to put a lot

447
00:25:09,280 --> 00:25:11,520
Speaker 1: of time into this, you know, and you have to

448
00:25:11,520 --> 00:25:14,120
Speaker 1: put a lot of effort into learning. And for me,

449
00:25:14,200 --> 00:25:16,240
Speaker 1: I'm the kind of person that I like to really

450
00:25:16,680 --> 00:25:19,080
Speaker 1: do my homework and really do my due diligence and

451
00:25:19,119 --> 00:25:22,479
Speaker 1: really just kind of figure out exactly so I can

452
00:25:22,520 --> 00:25:25,479
Speaker 1: be the best at it because you know, I know

453
00:25:25,560 --> 00:25:27,040
Speaker 1: what that takes. I know what it takes to be

454
00:25:27,080 --> 00:25:29,640
Speaker 1: the best at something in the world. So I'm bringing

455
00:25:29,640 --> 00:25:31,480
Speaker 1: that to the table and not many people have that.

456
00:25:31,560 --> 00:25:33,160
Speaker 1: But at the same time I understand that the hard

457
00:25:33,200 --> 00:25:36,800
Speaker 1: work and the dedication and then also that champions mentality

458
00:25:36,880 --> 00:25:40,000
Speaker 1: of like, I like winning, So if you do, what

459
00:25:40,080 --> 00:25:42,159
Speaker 1: does it take to win? And it's really just figuring

460
00:25:42,200 --> 00:25:44,560
Speaker 1: that out and applying it into this This part of

461
00:25:44,560 --> 00:25:47,840
Speaker 1: our of my life Allison, speaking of the track record,

462
00:25:47,920 --> 00:25:53,280
Speaker 1: Serena Ventures has backed thirteen unicorns six exits to date.

463
00:25:53,680 --> 00:25:55,439
Speaker 1: What is the advice you're giving the founders right now

464
00:25:55,480 --> 00:25:58,159
Speaker 1: about the macro economic environment given what we're seeing with

465
00:25:58,200 --> 00:26:04,120
Speaker 1: inflation and interest rates and GIA political uncertainty. Yeah, there's

466
00:26:04,119 --> 00:26:06,040
Speaker 1: obviously a lot of risk right now in the world.

467
00:26:06,160 --> 00:26:08,960
Speaker 1: We think about what that means, but we've also seen

468
00:26:09,000 --> 00:26:11,600
Speaker 1: in times of kind of great economic distress some of

469
00:26:11,640 --> 00:26:14,200
Speaker 1: the best companies coming out of that. People are looking

470
00:26:14,240 --> 00:26:16,879
Speaker 1: at new opportunities, whether they wanted to or not. Also,

471
00:26:16,920 --> 00:26:19,200
Speaker 1: with interest rates going up, we have you know, debt's

472
00:26:19,240 --> 00:26:22,000
Speaker 1: going to start getting more expensive, so there's more opportunity

473
00:26:22,119 --> 00:26:24,960
Speaker 1: for different forms of financing. And when we're doing at

474
00:26:24,960 --> 00:26:27,840
Speaker 1: the early stage, it's still the same course. It's make

475
00:26:27,880 --> 00:26:29,800
Speaker 1: sure you have enough capital to get you to your

476
00:26:29,840 --> 00:26:32,080
Speaker 1: next stage. How can we help you, What are the

477
00:26:32,200 --> 00:26:34,240
Speaker 1: things that you need to build to get to that

478
00:26:34,320 --> 00:26:36,920
Speaker 1: next level, and what are the tools that you need.

479
00:26:37,280 --> 00:26:39,639
Speaker 1: So for us, it's it's it's kind of business as

480
00:26:39,720 --> 00:26:42,560
Speaker 1: usual because there's a lot of opportunity happening right now,

481
00:26:42,640 --> 00:26:45,840
Speaker 1: a lot of great companies that we are seeing and funding,

482
00:26:46,160 --> 00:26:48,679
Speaker 1: but also thinking about kind of making sure you have

483
00:26:48,720 --> 00:26:50,520
Speaker 1: a little bit saved away for a rainy day, because

484
00:26:50,560 --> 00:26:53,880
Speaker 1: no one knows what's around the corner, Serena. The New

485
00:26:53,960 --> 00:26:57,120
Speaker 1: York Times ran a story about your fund and mistakenly

486
00:26:57,200 --> 00:27:00,639
Speaker 1: printed a photo of your sister instead of you. You

487
00:27:00,680 --> 00:27:03,200
Speaker 1: tweeted about this saying, no matter how far we come,

488
00:27:03,320 --> 00:27:06,000
Speaker 1: we get reminded that it's not enough. How did you

489
00:27:06,080 --> 00:27:12,920
Speaker 1: process that mistake? Um, Honestly, I've been through a lot

490
00:27:13,000 --> 00:27:15,760
Speaker 1: in my career and in my life, and I don't

491
00:27:15,840 --> 00:27:19,359
Speaker 1: let one thing tick me off too much. For me,

492
00:27:19,440 --> 00:27:23,840
Speaker 1: I process process it as an opportunity to use it

493
00:27:23,880 --> 00:27:25,840
Speaker 1: to let other people know that you're not the only

494
00:27:25,880 --> 00:27:29,840
Speaker 1: one being overlooked, and let people know. This is why

495
00:27:29,880 --> 00:27:32,560
Speaker 1: I'm raising Serena Adventures. You know, this is why I

496
00:27:32,600 --> 00:27:36,560
Speaker 1: want to make an impact because we can. We need

497
00:27:36,600 --> 00:27:38,879
Speaker 1: people like me and people like Alison and like our

498
00:27:38,920 --> 00:27:41,480
Speaker 1: team at Serena Adventures to be writing the big checks

499
00:27:41,680 --> 00:27:43,840
Speaker 1: to change that narrative so we don't have to be

500
00:27:43,880 --> 00:27:47,520
Speaker 1: overlooked and just just thought on and just you know,

501
00:27:47,640 --> 00:27:50,040
Speaker 1: just say okay, let me just write right, let me

502
00:27:50,080 --> 00:27:51,960
Speaker 1: just post this as fast as I can. I'm not

503
00:27:51,960 --> 00:27:53,600
Speaker 1: even going to think about it because it doesn't really

504
00:27:53,600 --> 00:27:56,880
Speaker 1: matter to me, and so it's really about changing that narrative.

505
00:27:57,000 --> 00:28:01,120
Speaker 1: And it's UM, I think that's so important because if

506
00:28:01,160 --> 00:28:03,800
Speaker 1: you have a platform to talk about and to discuss it,

507
00:28:04,080 --> 00:28:07,760
Speaker 1: then it needs to be discussed. And UM, yeah, I

508
00:28:07,760 --> 00:28:10,080
Speaker 1: think it's important for other women and other people of

509
00:28:10,119 --> 00:28:13,080
Speaker 1: color to see that you're not the only one struggling.

510
00:28:13,080 --> 00:28:14,840
Speaker 1: I mean, I've been number one for I don't know

511
00:28:15,160 --> 00:28:21,680
Speaker 1: EON's and m one more I can even find. And um,

512
00:28:21,760 --> 00:28:24,000
Speaker 1: the fact that that can still happen, it's just and

513
00:28:24,000 --> 00:28:27,480
Speaker 1: and and the truth that this is why we have

514
00:28:27,560 --> 00:28:31,800
Speaker 1: Serena ventures. Serena speaking of other great athletes. Tom Brady

515
00:28:31,840 --> 00:28:38,160
Speaker 1: on retiring, what's your take on that? Um, I think

516
00:28:38,200 --> 00:28:41,240
Speaker 1: everyone is happy about it, or most people were. I

517
00:28:41,280 --> 00:28:44,640
Speaker 1: know I was, so it was definitely mixed feelings about

518
00:28:44,720 --> 00:28:47,440
Speaker 1: him retiring, and then kind of felt pretty good about

519
00:28:47,480 --> 00:28:50,960
Speaker 1: the unretirement. I was like, oh, that's exciting. So well,

520
00:28:51,520 --> 00:28:55,880
Speaker 1: like Tod Brady, you've accomplished seemingly everything possible on the court,

521
00:28:56,000 --> 00:28:58,760
Speaker 1: and you've now started this second career and investing and

522
00:28:58,800 --> 00:29:01,640
Speaker 1: you've got other business trist how much longer are we

523
00:29:01,680 --> 00:29:04,400
Speaker 1: going to see you playing tennis, and are you thinking

524
00:29:04,440 --> 00:29:08,320
Speaker 1: about the R word more often? I mean, I think

525
00:29:08,440 --> 00:29:10,880
Speaker 1: every tennis player thinks about the R word as soon

526
00:29:10,920 --> 00:29:16,280
Speaker 1: as they hit five years because sinness is so intense.

527
00:29:16,360 --> 00:29:20,160
Speaker 1: It's literally eleven months out of the year. Um. But

528
00:29:20,720 --> 00:29:22,960
Speaker 1: I don't know. I you know, I don't know. I'm

529
00:29:23,000 --> 00:29:26,080
Speaker 1: not I'm living for the day. I always tell people

530
00:29:26,120 --> 00:29:28,880
Speaker 1: I'm not planning for tomorrow. Only in business, and when

531
00:29:28,880 --> 00:29:31,800
Speaker 1: it comes to tennis, I'm planning to spread it, all right,

532
00:29:31,880 --> 00:29:35,680
Speaker 1: So what's the Serena Slam for business? What does that

533
00:29:35,720 --> 00:29:40,760
Speaker 1: look like? Um? I have never been asked that question,

534
00:29:41,400 --> 00:29:44,400
Speaker 1: and I've never thought about it. And I think that

535
00:29:44,560 --> 00:29:47,000
Speaker 1: is such a good idea, Like what a good way?

536
00:29:47,040 --> 00:29:49,280
Speaker 1: Because I have I have a Serena Slam in tennis,

537
00:29:49,800 --> 00:29:52,680
Speaker 1: So what a good idea. I absolutely love that. I'm

538
00:29:52,680 --> 00:29:54,800
Speaker 1: going to think of something and come back to you

539
00:29:54,840 --> 00:29:57,160
Speaker 1: on that. I love that. And you just challenged me.

540
00:29:57,240 --> 00:30:01,480
Speaker 1: I love being challenge. We're going to your trouble. I

541
00:30:01,480 --> 00:30:07,400
Speaker 1: got work to do today. You just gave you. Um.

542
00:30:08,080 --> 00:30:10,880
Speaker 1: You have on that note, you have broken so many barriers.

543
00:30:10,920 --> 00:30:12,720
Speaker 1: You have proved so many people wrong who didn't believe

544
00:30:12,720 --> 00:30:14,840
Speaker 1: in you or support you. So I have to ask

545
00:30:14,880 --> 00:30:18,080
Speaker 1: you about what what happened to Naomi Osaka at Indian Wells.

546
00:30:18,520 --> 00:30:25,520
Speaker 1: What's your reaction to this, especially given your own experience. Um, yeah,

547
00:30:24,840 --> 00:30:29,320
Speaker 1: I thought that, you know, I thought that everyone is different.

548
00:30:29,320 --> 00:30:34,000
Speaker 1: I always say this, I always say everyone is different. Um,

549
00:30:34,040 --> 00:30:36,520
Speaker 1: it's sport. I know a lot of people in sport,

550
00:30:36,560 --> 00:30:40,480
Speaker 1: whether it's football. I know in basketball, I mean, shooting

551
00:30:40,640 --> 00:30:43,880
Speaker 1: a free throw with all the noise and all the

552
00:30:43,960 --> 00:30:47,800
Speaker 1: angry words and the fans. It's it's interesting, you know.

553
00:30:47,960 --> 00:30:53,200
Speaker 1: So it's a part of sport, unfortunately, and you have

554
00:30:53,360 --> 00:30:58,000
Speaker 1: to be able to, you know, keep going in those

555
00:30:58,040 --> 00:31:01,960
Speaker 1: times because it's like it's not going. Unfortunately, people can

556
00:31:02,000 --> 00:31:06,960
Speaker 1: be really mean and that's terrible. And I've been around

557
00:31:07,000 --> 00:31:12,760
Speaker 1: when people have been really mean and you just kind

558
00:31:12,800 --> 00:31:17,320
Speaker 1: of have to understand that that's their opinion and just there.

559
00:31:17,800 --> 00:31:19,880
Speaker 1: It's a free world and they're able to have that opinion.

560
00:31:19,920 --> 00:31:23,240
Speaker 1: But yeah, I think that, you know, from my opinion

561
00:31:23,360 --> 00:31:28,000
Speaker 1: is like, okay, I'm not gonna have that meanness when

562
00:31:28,440 --> 00:31:30,840
Speaker 1: you know, it's like okay, how do I do I

563
00:31:30,880 --> 00:31:33,920
Speaker 1: do that? And so unfortunately I hate that. It's a

564
00:31:33,920 --> 00:31:35,480
Speaker 1: part of sport, but it's part of sport and it

565
00:31:35,880 --> 00:31:39,000
Speaker 1: will probably always be a part of sport and so um,

566
00:31:39,000 --> 00:31:44,880
Speaker 1: but everyone's different. Serena Williams and Alison Rappaport still been

567
00:31:44,880 --> 00:31:47,800
Speaker 1: there from Serena Ventures. You can watch the full interview.

568
00:31:47,880 --> 00:31:50,800
Speaker 1: We had a lot more fun at Bloomberg dot com.

569
00:31:50,840 --> 00:31:54,640
Speaker 1: Coming up, crypto and national security. We're going to speak

570
00:31:54,640 --> 00:31:57,320
Speaker 1: with the co founder of chain Analysis, also the chief

571
00:31:57,320 --> 00:32:01,720
Speaker 1: security officer, Jonathan Levin. Out there new tool to monitor

572
00:32:02,080 --> 00:32:04,920
Speaker 1: russ and sanctions and how they picture the role of

573
00:32:04,960 --> 00:32:09,520
Speaker 1: crypto in national security going forward. That's next. This is

574
00:32:09,520 --> 00:32:18,360
Speaker 1: Bloomberg Time now for our crypto report. This now week

575
00:32:18,440 --> 00:32:21,680
Speaker 1: four of the war on Ukraine and it's been a

576
00:32:21,720 --> 00:32:25,000
Speaker 1: wild ride both for financial markets and cryptocurrency. I want

577
00:32:25,000 --> 00:32:28,360
Speaker 1: to bring in our next guest to talk about uh

578
00:32:28,360 --> 00:32:31,440
Speaker 1: this and more. Ch Analysis co founder and chief security officer,

579
00:32:31,560 --> 00:32:35,600
Speaker 1: Jonathan Levine. Jonathan cha Analysis is actually releasing a new

580
00:32:35,640 --> 00:32:39,360
Speaker 1: tool that would help users identify whether as I understand

581
00:32:39,360 --> 00:32:43,640
Speaker 1: that the people they're interacting with our sanctioned entities. Can

582
00:32:43,680 --> 00:32:47,680
Speaker 1: you explain a little bit how this works? Yeah, for sure,

583
00:32:47,760 --> 00:32:50,920
Speaker 1: Thanks so much for having me. So Essentially, what we've

584
00:32:50,960 --> 00:32:54,960
Speaker 1: seen in sanctions in the US come out you know,

585
00:32:55,080 --> 00:32:57,840
Speaker 1: recently and over the past few years. Is it as

586
00:32:57,880 --> 00:33:01,680
Speaker 1: it comes back to cryptocurrencies, is that o FAK, the

587
00:33:01,760 --> 00:33:07,720
Speaker 1: regulator that oversees all of sanctions, actually lists addresses from

588
00:33:07,760 --> 00:33:11,760
Speaker 1: cryptocurrency blockchains like listed on the screen. Uh, and that

589
00:33:11,960 --> 00:33:16,280
Speaker 1: actually helps people understand whether they're interacting with people that

590
00:33:16,440 --> 00:33:20,640
Speaker 1: are sanctioned individuals that they're prohibited from interacting with. And

591
00:33:20,720 --> 00:33:23,400
Speaker 1: so you know, what we have released out there is

592
00:33:23,760 --> 00:33:27,000
Speaker 1: an ability for anyone in the world, free of charge,

593
00:33:27,280 --> 00:33:32,320
Speaker 1: to actually screen transactions that they're processing against that API

594
00:33:32,640 --> 00:33:35,680
Speaker 1: or against our smart contract oracle to see whether they

595
00:33:35,720 --> 00:33:40,880
Speaker 1: are hitting up against one of those listed addresses by OPAK. Now,

596
00:33:40,880 --> 00:33:43,600
Speaker 1: I'm wondering what you think, Jonathan, of the role of

597
00:33:43,720 --> 00:33:47,760
Speaker 1: intermediaries here, exchanges and the necessity to work with lawmakers

598
00:33:47,760 --> 00:33:50,240
Speaker 1: and regulators. Do you think that there's more of a

599
00:33:50,360 --> 00:33:53,280
Speaker 1: role that they need to play in order to make

600
00:33:53,320 --> 00:33:57,600
Speaker 1: sure that the rules are being followed. Yeah, I think that. Well,

601
00:33:57,880 --> 00:34:00,360
Speaker 1: the industry has been preparing for this moment a really

602
00:34:00,360 --> 00:34:05,200
Speaker 1: long time, and you've had exchanges and financial institutions really

603
00:34:05,480 --> 00:34:08,600
Speaker 1: you know, as they step into the space and mature,

604
00:34:08,640 --> 00:34:12,040
Speaker 1: all of their risk and compliance programs really go into

605
00:34:12,200 --> 00:34:15,440
Speaker 1: business as usual. They know what the scenarios are, they

606
00:34:15,480 --> 00:34:17,600
Speaker 1: know what they needed to do, and they've been sort

607
00:34:17,640 --> 00:34:21,919
Speaker 1: of adapting to all of the latest actions bio fak

608
00:34:22,040 --> 00:34:25,480
Speaker 1: and and regulators around the world that have taken steps

609
00:34:25,520 --> 00:34:28,600
Speaker 1: to broadened sanctions. So yeah, I think from that standpoint,

610
00:34:28,600 --> 00:34:31,000
Speaker 1: it's the sort of business as usual or be a

611
00:34:31,040 --> 00:34:33,160
Speaker 1: little bit busier than usual in a lot of the

612
00:34:33,200 --> 00:34:37,319
Speaker 1: sanctions teams in those financial institutions. Right, So, Jonathan, how

613
00:34:37,360 --> 00:34:42,400
Speaker 1: much evidence are you seeing of Russians potentially using cryptocurrency

614
00:34:42,480 --> 00:34:48,839
Speaker 1: to circumvent these rules? So currently we are tracking very

615
00:34:48,840 --> 00:34:52,680
Speaker 1: closely the macro environment, right, We're looking at all of

616
00:34:52,719 --> 00:34:56,960
Speaker 1: the entry points and exit points from the Russian economy

617
00:34:57,120 --> 00:35:01,760
Speaker 1: into cryptocurrencies and tracking sort of changes in liquidity, changes

618
00:35:01,800 --> 00:35:05,960
Speaker 1: in volumes, different patterns of transactions to really understand has

619
00:35:06,000 --> 00:35:08,880
Speaker 1: there been a systemic change in the way in which

620
00:35:09,520 --> 00:35:14,000
Speaker 1: people are using cryptocurrency in Russia and potentially abating sanctions

621
00:35:14,040 --> 00:35:17,120
Speaker 1: and and you know, so far we're not seeing sort

622
00:35:17,120 --> 00:35:24,280
Speaker 1: of the systemic level of crypticocurrency being used to evade

623
00:35:24,320 --> 00:35:27,680
Speaker 1: sanctions that people were worried about sort of at the

624
00:35:27,719 --> 00:35:30,759
Speaker 1: beginning of this. How do you think about the role

625
00:35:30,760 --> 00:35:33,920
Speaker 1: of cyber attacks in this war more largely, is there

626
00:35:33,960 --> 00:35:37,719
Speaker 1: evidence that this can become a bigger issue here and

627
00:35:37,760 --> 00:35:40,800
Speaker 1: what's the role here of folks in the crypto community

628
00:35:41,040 --> 00:35:44,799
Speaker 1: who are also thinking about this at scale. Yeah, I

629
00:35:44,840 --> 00:35:48,880
Speaker 1: think it's a great question because really what we've seen

630
00:35:49,080 --> 00:35:51,760
Speaker 1: in this war in general is that you know, cyber

631
00:35:52,040 --> 00:35:56,399
Speaker 1: is a domain as part of this warfare. Um you're

632
00:35:56,400 --> 00:36:01,400
Speaker 1: seeing sort of increased cyber attacks on Ukrainian internet infrastructure,

633
00:36:01,480 --> 00:36:05,280
Speaker 1: and we've seen sort of activity to do with CONTI

634
00:36:05,560 --> 00:36:09,920
Speaker 1: ransomware really increase. As you know, there have been some

635
00:36:10,000 --> 00:36:14,000
Speaker 1: leaks and and some re establishment of Quanti as sort

636
00:36:14,000 --> 00:36:17,520
Speaker 1: of the dominant ransomware family out there. And so really

637
00:36:17,560 --> 00:36:21,920
Speaker 1: it's incumbent on everyone in the industry to work really

638
00:36:21,960 --> 00:36:25,880
Speaker 1: closely with government and you know, share information about the

639
00:36:25,920 --> 00:36:28,680
Speaker 1: attacks that are happening so that there can be sort

640
00:36:28,680 --> 00:36:34,279
Speaker 1: of indicators and shared intelligence across geographies and across business. UM.

641
00:36:34,360 --> 00:36:37,040
Speaker 1: So I think that there's a lot more partnership to

642
00:36:37,080 --> 00:36:39,200
Speaker 1: be done, and you're seeing a lot of the development

643
00:36:39,200 --> 00:36:42,719
Speaker 1: of these task forces and a reprioritization of that in

644
00:36:42,760 --> 00:36:46,040
Speaker 1: the US. You believe the war in Ukraine is a

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Speaker 1: key inflection point for the crypto industry. How do you

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Speaker 1: see this playing out? I think that one thing it's

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Speaker 1: done is it's really surfaced that cryptocurrency can be used

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Speaker 1: for humanitarian purposes, you know, with a distinct example here

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Speaker 1: of the speed by which money was able to go

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Speaker 1: from donors in all these different countries around the world

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Speaker 1: into the hands of the Ukrainian government and then for

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Speaker 1: them to purchase military equipment and emergency food supplies to

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Speaker 1: be able to actually finance some of the defense of

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Speaker 1: their country. So that is a really sort of tangible

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Speaker 1: example that you know, is now in the minds of

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Speaker 1: a lot of people around the world. You know. The

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Speaker 1: other thing here is that it is actually possible to

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Speaker 1: have you know, sanctions compliance for cryptocurrency businesses around the world.

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Speaker 1: And so, you know, I think the combination of you know,

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Speaker 1: the legitimacy and the utility of cryptocurrency coming like to

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Speaker 1: the forefront, as well as this increased focus and scrutiny

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Speaker 1: on the regulatory piece, you know, is going to breed

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Speaker 1: sort of an inflection point in how regulated cryptocurrency businesses

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Speaker 1: able to function in in Western economies. Alright. Chinalysis co

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Speaker 1: found er chief security officer Jonathan Levine along with our

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Speaker 1: Shinali Bossic. Thank you. We don't think of it as

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Speaker 1: a race at Blue Origin. Um. We are in this

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Speaker 1: for the long term. And by long term, I don't

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Speaker 1: mean five years, I don't mean ten years. The vision

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Speaker 1: of Blue Origin is generation spanning. I will not see

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Speaker 1: it happen in my lifetime, maybe not even in my choice.

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Speaker 1: It's lifetime. That is how long the horizon of the

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Speaker 1: Origins vision is. And I'm very excited to be part

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Speaker 1: of these this early step, but it will keep on going.

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Speaker 1: Chief architect of Blue Origin suborbital rocket there Gary lie

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Speaker 1: back in July when Jeff Bezos made history on the

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Speaker 1: company's first manned rocket to space. Now Live will follow

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Speaker 1: in bezos is Its steps and join Blue Origins flight

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Speaker 1: on March twenty nine. He'll be taking the place of

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Speaker 1: Saturday Night Live star Pete Davidson, who dropped out of

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Speaker 1: the flight when the company announced the dates had been changed.

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Speaker 1: No additional reason given, and that does it for this

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Speaker 1: edition of Bloomberg Technology. Join us tomorrow. We'll be joined

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Speaker 1: by Bradley Tusk of Tusk Ventures. He'll talk about crypto

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Speaker 1: investing and who will run the metaverse. That's tomorrow on

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Speaker 1: Bloomberg Technology. I'm Emily Chang. This is Bloomberg