WEBVTT - Gender Pay Gap & New COVID Guidelines 0:00:02.360 --> 0:00:06.560 From the heart of where innovation, money and power in 0:00:06.720 --> 0:00:24.040 Silicon Valley and beyond. This is Bloomberg Technology with Emily Jay. 0:00:25.760 --> 0:00:27.960 I'm Taylor Riggs in New York and for Emily Chang, 0:00:28.080 --> 0:00:31.080 this is Bloomberg Technology. Coming up in the next hour, 0:00:31.440 --> 0:00:34.960 a warning from President Biden to China's Pink There will 0:00:35.000 --> 0:00:39.160 be quote consequences if China supports Russia in its invasion 0:00:39.320 --> 0:00:42.800 of Ukraine. What this call between the two leaders could 0:00:42.880 --> 0:00:46.199 mean for this ongoing war, plus what more needs to 0:00:46.200 --> 0:00:49.680 be done to reach true pay equality. We'll speak with 0:00:49.720 --> 0:00:52.040 a woman who has made it her goal to change 0:00:52.159 --> 0:00:55.800 the structural roadblocks at her company and what others can 0:00:55.920 --> 0:00:59.680 learn from it. And he's helping raise millions for families 0:00:59.720 --> 0:01:02.360 in you Crane with as little as a thousand dollars 0:01:02.400 --> 0:01:05.880 per donation. Will meet the man behind the one K project, 0:01:06.160 --> 0:01:09.520 including what inspired him to get involved. Now, of course, 0:01:09.560 --> 0:01:12.320 today President Biden has been roughly about two hours in 0:01:12.360 --> 0:01:15.479 a video chat with Chinese leader Jijing Ping. The two 0:01:15.480 --> 0:01:18.880 talked about Russia's invasion of Ukraine and what to do next. 0:01:19.160 --> 0:01:22.360 From more, I'm joined by Bloomberg Political director Jody Schneider 0:01:22.760 --> 0:01:26.240 in Washington. It was interesting Jody speaking with anre horder 0:01:26.280 --> 0:01:29.039 in a few hours ago. We heard China's version of events. 0:01:29.080 --> 0:01:31.559 Then we finally got the read out of the US version. 0:01:31.880 --> 0:01:34.000 What did it sound like for you for how the 0:01:34.080 --> 0:01:38.600 call went. Yeah, so they're very different versions tailors. You 0:01:38.680 --> 0:01:41.320 might note they agreed on that they talked for two hours. 0:01:41.400 --> 0:01:43.920 There was a video conference, first time that the two 0:01:44.000 --> 0:01:47.559 leaders have spoken since November, so obviously the first time 0:01:47.640 --> 0:01:52.800 since the Russia's invasion of Ukraine. UH. The Chinese summary 0:01:52.880 --> 0:01:56.320 came out first UH shortly after the call, and that 0:01:56.480 --> 0:02:00.559 they said, UH that President hu Jianping uh the case 0:02:00.640 --> 0:02:03.480 that they did not want to see an invasion of 0:02:03.680 --> 0:02:06.680 Ukraine and that they do not think that country's conflicts 0:02:06.680 --> 0:02:09.960 should be settled on the battlefield. However, they didn't mention 0:02:10.080 --> 0:02:13.400 Russia by name and didn't publicly UM and have not 0:02:13.600 --> 0:02:17.919 publicly criticized Russia for or denounced Russia as most of 0:02:17.960 --> 0:02:20.800 the rest of the world has for that invasion. On 0:02:20.840 --> 0:02:24.040 the U S side, we got that statement later several 0:02:24.080 --> 0:02:28.520 hours later, and basically they said that US President Joe 0:02:28.560 --> 0:02:31.880 Biden had come out very strongly and said that there 0:02:31.919 --> 0:02:36.280 will be implications and consequences for China if they were 0:02:36.360 --> 0:02:40.560 to take direct support of Russia, such as selling aircraft 0:02:40.639 --> 0:02:45.079 or or military equipment to them for that invasion. UH. 0:02:45.120 --> 0:02:48.920 And also made the case that UH that President Biden. 0:02:49.480 --> 0:02:52.200 President Biden made the case that the US had taken 0:02:52.360 --> 0:02:56.160 a number of steps, including sanctions, to try to stop 0:02:56.160 --> 0:02:58.440 that invasion in the first place. Judie, how do you 0:02:58.480 --> 0:03:01.880 think about this significance of these talks given the height 0:03:01.960 --> 0:03:04.400 in sort of geopolitical risk that we're already in, Because 0:03:04.480 --> 0:03:07.080 let's be honest, coming into this, this was a US 0:03:07.120 --> 0:03:11.280 in a China relationship that was already pretty strained. That's right. 0:03:11.360 --> 0:03:13.960 There's these times have been frayed in recent years by 0:03:13.960 --> 0:03:17.120 a number of things, the trade tensions, UH, tensions over 0:03:17.200 --> 0:03:21.800 things like intellectual property disputes Hong Kong, Taiwan, UM, and 0:03:21.840 --> 0:03:24.320 then this on top of it. But the fact that 0:03:24.400 --> 0:03:27.919 they are talking, I think it's significant in and of itself. UM, 0:03:27.960 --> 0:03:30.920 we have nuclear powers here, UM discussing the invasion of 0:03:30.919 --> 0:03:33.480 a country by another nuclear power, and the fact that 0:03:33.520 --> 0:03:37.400 they're talking, and that neither side UH, that both sides 0:03:37.440 --> 0:03:39.560 seemed to be willing to come back to the table. 0:03:39.840 --> 0:03:41.920 That was another headline out of this that they say 0:03:41.960 --> 0:03:45.160 they will keep talking. Uh is significant in itself. Um, 0:03:45.200 --> 0:03:47.280 they didn't talk about trade or any of these other 0:03:47.320 --> 0:03:50.440 issues that Taiwan did come up, with the US saying 0:03:50.560 --> 0:03:54.520 it continues with its support of Taiwan the status quo, 0:03:54.760 --> 0:03:59.640 which is that it supports the democratically elected leadership of Taiwan, 0:04:00.040 --> 0:04:03.760 and China didn't have a fairly UH strong statement on 0:04:03.800 --> 0:04:08.480 Taiwan itself, saying that their actions their perceived actions on 0:04:08.520 --> 0:04:13.160 Taiwan have been misread and misjudged by the US and 0:04:13.200 --> 0:04:16.400 there was an implicit warning there. Jody, I think what's interesting, 0:04:16.440 --> 0:04:18.560 We're just coming off of a great conversation we had 0:04:18.600 --> 0:04:20.640 on Triple Take for the last thirty minutes when we 0:04:20.640 --> 0:04:23.760 talk about the effectiveness of sanctions, and on one hand, 0:04:23.800 --> 0:04:25.840 they can work when they're targeted, but on the other hand, 0:04:25.839 --> 0:04:29.080 it really can continue to isolate a country like Russia 0:04:29.120 --> 0:04:32.760 and push them further into China's hands. Right, how are 0:04:32.800 --> 0:04:36.200 you thinking about globalization the reorder of the word the 0:04:36.279 --> 0:04:39.360 world is we're thinking about sort of these bilateral relationships 0:04:39.400 --> 0:04:41.320 or if it's really just more of the Eastern powers 0:04:41.440 --> 0:04:45.040 versus now some of the Western countries. Yeah, it certainly 0:04:45.080 --> 0:04:47.800 has the potential to shake things up and to deliver 0:04:47.920 --> 0:04:50.400 us to more of that Cold war world. The other 0:04:50.480 --> 0:04:53.160 question was sanctions. Taylor. I think is interesting is how 0:04:53.240 --> 0:04:56.240 much further can they go? UH? The US has you know, 0:04:56.320 --> 0:04:59.760 this has been the big They're big arsenal if you 0:05:00.279 --> 0:05:03.880 in trying to first prevent that, uh, that invasion, and 0:05:03.880 --> 0:05:07.720 then when they couldn't prevent it, to punish Russia Ford 0:05:07.760 --> 0:05:10.240 and to try to isolate them. But they have gone 0:05:10.360 --> 0:05:12.600 you know there, there doesn't seem to be much more 0:05:13.000 --> 0:05:15.839 they can do in terms of sanctions and UM, and 0:05:15.880 --> 0:05:19.560 that's a real question what comes next. We will stay 0:05:19.600 --> 0:05:21.680 tuned on what comes next, and I know that we'll 0:05:21.680 --> 0:05:24.120 stay tuned with you. Jody Schneider, thank you so much 0:05:24.160 --> 0:05:27.680 for your time, our political news director. Let's stick with 0:05:27.720 --> 0:05:29.400 the impact of the war in Ukraine. I want to 0:05:29.440 --> 0:05:31.400 bring in Dan Eyes of web Bush for his read 0:05:31.440 --> 0:05:33.719 on it. Dan, I've been reading all your notes in 0:05:33.760 --> 0:05:38.240 the past three weeks and cybersecurity, cybersecurity, cyber security, what 0:05:38.279 --> 0:05:40.520 do you think are going to be within cybersecurity some 0:05:40.560 --> 0:05:43.240 of the biggest Uh. I hate to use the word 0:05:43.240 --> 0:05:45.440 beneficiary because we're talking about a war, but how do 0:05:45.480 --> 0:05:47.280 you sort of see this plane out within your world 0:05:47.279 --> 0:05:50.839 of equity markets. Yeah, we've seen that. I mean there's 0:05:51.080 --> 0:05:55.240 clear elevation of threats. We think upwards in terms of 0:05:55.240 --> 0:05:58.599 the elevation since but we believe as a cyber warfa's 0:05:58.640 --> 0:06:01.359 already underway from Russia. Uh. You look at names like 0:06:01.440 --> 0:06:06.680 pow out of Z Scale or CrowdStrike, Palanteer and Tenable 0:06:06.760 --> 0:06:09.239 in cyber arc, those are really the basket of names 0:06:09.240 --> 0:06:13.480 among many others that benefit. That's how we believe cybersecurity 0:06:13.960 --> 0:06:16.279 spending is gonna be up four to five actual overall. 0:06:16.320 --> 0:06:17.960 I T spend. I think it's gonna be a golden 0:06:17.960 --> 0:06:20.919 age for cyber and right now we're really seeing the 0:06:21.000 --> 0:06:25.520 importance as they protect enterprises as well as many organizations 0:06:25.520 --> 0:06:28.880 and agencies within the Beltway. But does that text spend 0:06:29.440 --> 0:06:32.000 come from somewhere else? Because text mend was supposed to 0:06:32.040 --> 0:06:34.640 be strong coming into this year if I remember correctly, 0:06:34.960 --> 0:06:37.520 But with the FED raising rates, we might be looking 0:06:37.560 --> 0:06:39.840 at a little bit of a slowing economy. If a 0:06:39.920 --> 0:06:42.760 company now has to choose where they spend that tech, 0:06:43.080 --> 0:06:45.600 is it clearly going to be cybersecurity. Does it come 0:06:45.640 --> 0:06:48.960 at the expense of something else? Yeah, it's a great question. 0:06:49.040 --> 0:06:51.960 I think that's where it's really Cloud and cyber security 0:06:52.120 --> 0:06:55.760 are the priorities, and we're seeing cloud budgets in many 0:06:55.800 --> 0:07:00.320 ways up thirty across the board, and cybersecurity go hand 0:07:00.320 --> 0:07:02.920 in hand, so and I think where that's coming from 0:07:02.960 --> 0:07:05.680 in terms of may being negative some of the hardware, 0:07:05.800 --> 0:07:08.840 some of the networking purchases that could be negative for 0:07:08.880 --> 0:07:11.200 the likes of Cisco and others. But I think we've 0:07:11.240 --> 0:07:14.280 really seen there is a bifurcation of tech to work 0:07:14.320 --> 0:07:16.240 from home. The e commerce names, I think a lot 0:07:16.320 --> 0:07:19.200 of them are catching a falling night. You look where 0:07:19.240 --> 0:07:24.000 the spending is, enterprise software, Chips, some of the star warts, Apple, Microsoft. 0:07:24.080 --> 0:07:27.000 In our opinion this week, with the Fed, the tech 0:07:27.080 --> 0:07:30.160 bottom we believe is in once they ripped that band 0:07:30.160 --> 0:07:33.280 aid off this week. Okay, let's talk about that because 0:07:33.280 --> 0:07:36.640 the macro picture DAN is a federal reserve that's raising rates. 0:07:36.640 --> 0:07:38.600 But you're coming off of the tech sector that just 0:07:38.680 --> 0:07:40.960 posted one of the best weeks that we've had since November. 0:07:42.040 --> 0:07:44.880 The headwinds though of raising rates, the pressure that's putting 0:07:44.920 --> 0:07:49.240 on valuations. Why are we at the bottom, Because I 0:07:49.280 --> 0:07:51.600 believe text Doxor is the most over soul we've seen 0:07:51.600 --> 0:07:54.720 in the last five or six years relative to growth, 0:07:54.800 --> 0:07:57.000 and I think what's happened is the risk off trade. 0:07:57.000 --> 0:07:59.800 Everyone's head for the elevators at the same time on 0:08:00.080 --> 0:08:04.800 certainty obviously horrific situation Ukrain, the overall geopolitical but now 0:08:04.880 --> 0:08:07.600 the Fed how they've laid it out, so now the 0:08:07.640 --> 0:08:11.559 bulls and bears could debate it, but now there's less 0:08:11.640 --> 0:08:15.960 uncertainty and combined with what we saw valuations, the compression 0:08:16.480 --> 0:08:19.120 and the growth, you know, and then you look forward. 0:08:19.160 --> 0:08:22.040 I believe, especially in software chips some of the star 0:08:22.120 --> 0:08:27.200 where it plays Microsoft, Google, Apple, among others. In our opinion, 0:08:27.200 --> 0:08:29.400 it's a bright green light to earn tech and I 0:08:29.400 --> 0:08:32.080 think that's what you're starting to see risk on. I 0:08:32.120 --> 0:08:34.479 could tell you a four or five to one investors 0:08:34.520 --> 0:08:38.680 calling us looking for bis versus shorts. Interesting, Dan, I 0:08:38.720 --> 0:08:41.000 wanted to talk about some other headwinds on the way. 0:08:41.080 --> 0:08:43.040 It's so interesting. I think we're all trying to become 0:08:43.040 --> 0:08:46.520 at nickel experts in the last few weeks, the impact 0:08:46.600 --> 0:08:49.120 that it's having on electric vehicles as we're thinking not 0:08:49.200 --> 0:08:52.440 only about oil shortages and cutting off supply from Russia, 0:08:52.480 --> 0:08:55.000 but then the nickel imports as well. In the big 0:08:55.120 --> 0:08:57.719 ramifications it's had in the markets. How do you think 0:08:57.760 --> 0:09:01.440 about e VS batteries, the push forward on that initiative, 0:09:01.720 --> 0:09:04.320 if we're struggling to get our hands on maybe some 0:09:04.400 --> 0:09:08.600 of those raw materials, well, I think that's it's bringing 0:09:08.679 --> 0:09:11.720 up the issue front and center because now price increases, 0:09:11.720 --> 0:09:13.960 and you shut tests to put a price increase this week, 0:09:14.679 --> 0:09:17.240 and you sat X playing and others. Because are the 0:09:17.280 --> 0:09:20.200 average ev is going to increase? It's about anywhere between 0:09:20.240 --> 0:09:24.720 one thousand. Given this, I think it also just speaks 0:09:24.720 --> 0:09:26.720 to what we've seen in terms of raw materials. You're 0:09:26.760 --> 0:09:30.040 gonna see for other sources of raw materials, some could 0:09:30.080 --> 0:09:33.560 say maybe underwater and some other maritime areas start to 0:09:33.559 --> 0:09:35.640 get front and center. But when you look at e 0:09:35.760 --> 0:09:39.599 VS overall, I still view this as not really denting 0:09:39.760 --> 0:09:42.319 overall demand because I think overall, when you look at 0:09:42.480 --> 0:09:44.880 gas and you look what happened in terms of what 0:09:44.880 --> 0:09:47.079 we've see in Europe and across the US, I believe 0:09:47.120 --> 0:09:51.560 it pulls forward needy demand potentially by two to three years, 0:09:51.559 --> 0:09:54.599 given what we've seen with a lot of fen sitting customers. 0:09:55.080 --> 0:09:58.800 Price increases there and nickel, but overall the demand continues 0:09:58.840 --> 0:10:00.640 to be just massively pen up. Any think a lot 0:10:00.640 --> 0:10:03.400 of these stocks way over sold, Tesla front and center, 0:10:03.559 --> 0:10:07.640 Except what about it wasn't Tesla but another EV maker 0:10:07.720 --> 0:10:10.160 who tried to do price increases and then got some 0:10:10.240 --> 0:10:12.520 backlash and had to roll it back. Are you worried 0:10:12.520 --> 0:10:16.199 about a consumer who, maybe with broader inflation, is feeling 0:10:16.200 --> 0:10:18.800 panged and says, no, I'm not going to accept that 0:10:18.840 --> 0:10:21.000 price increase. How do you then think about the impact 0:10:21.000 --> 0:10:24.400 on margins. Yeah, and when you talk about Rivy and 0:10:24.400 --> 0:10:26.360 the price to increase in the media called but I 0:10:26.360 --> 0:10:30.400 mean that was a disaster. Try the thirteenth episode, which 0:10:30.440 --> 0:10:33.200 continues to being the overhanging, the head scratcher in terms 0:10:33.200 --> 0:10:35.160 of what they did. But when you look at Tesla, 0:10:35.640 --> 0:10:39.000 I compare those price increases much more modest to the 0:10:39.040 --> 0:10:41.640 likes of Netflix raising prices and what you saw an 0:10:41.640 --> 0:10:44.880 app Amazon in terms of prime just stal warts know 0:10:45.160 --> 0:10:49.360 that they can increase prices in minimal demand impact. So 0:10:49.440 --> 0:10:52.200 I think you campaign across the board with the same brush. 0:10:52.559 --> 0:10:55.080 I think Tesla in terms of price increases, we could 0:10:55.080 --> 0:10:57.240 still see you know, the two to three k a 0:10:57.280 --> 0:11:00.199 price increases and right now demands out stripping some Why 0:11:00.320 --> 0:11:06.040 today by about Dan. I'ves web Bush really appreciate it. 0:11:06.080 --> 0:11:08.160 Love getting you here on this program. Have a great 0:11:08.200 --> 0:11:10.960 weekend coming up. We are going to be sticking with 0:11:11.000 --> 0:11:12.960 sort of this theme of Ukraine and be talking to 0:11:13.000 --> 0:11:16.120 the man behind the one Kate project. It helps Ukrainian 0:11:16.160 --> 0:11:18.920 families who've been displaced by the war. We're going to 0:11:19.000 --> 0:11:21.840 discuss how he's managed to get millions of dollars in 0:11:21.880 --> 0:11:25.120 the hands of those who need it most. This is bloomberg. 0:11:40.800 --> 0:11:43.160 As we watched day after day the horrific images that 0:11:43.240 --> 0:11:45.800 come out of Ukraine, many have wondered how to help 0:11:46.240 --> 0:11:49.800 mere days after Russia attacks Ukraine. My next guest decided 0:11:49.840 --> 0:11:53.520 to help families in need by getting money directly to them. 0:11:53.600 --> 0:11:56.480 He's helped more than two thousand families so far, all 0:11:56.559 --> 0:11:59.840 thanks to people donating about a thousand dollars to sponsor 0:12:00.080 --> 0:12:02.920 a family. Joining me now is alex Is called. He 0:12:03.040 --> 0:12:05.400 is the founder of the one k Project. He was 0:12:05.400 --> 0:12:08.800 also born and raised in Ukraine before fleeing the country 0:12:09.160 --> 0:12:12.880 during the Cold War. So you unfortunately know all of 0:12:12.920 --> 0:12:16.080 this too familiarly and talk to me about sort of 0:12:16.080 --> 0:12:18.160 how you set this up to make sure that the 0:12:18.200 --> 0:12:22.280 money really was going to those families. Yeah. Absolutely, I 0:12:22.320 --> 0:12:25.240 mean the premise of the project is simple. It's families 0:12:25.280 --> 0:12:28.640 in US and around the world sending one key directly 0:12:28.800 --> 0:12:32.240 to families in bucted by the war in Ukraine, and 0:12:32.679 --> 0:12:35.720 this is sort of direct human to human help is 0:12:35.760 --> 0:12:39.800 the best way to help families at scale. How do 0:12:39.880 --> 0:12:43.080 you then make sure though, that it isn't overtaken by 0:12:44.600 --> 0:12:47.320 I don't know, people who were taking money away from it, right, 0:12:47.320 --> 0:12:49.160 because you want all of that money really to go 0:12:49.240 --> 0:12:51.280 to those in need. How can you ensure the people 0:12:51.280 --> 0:12:53.600 who are donating that that money, in a hundred percent 0:12:53.640 --> 0:12:56.800 of it is really going to those families. Yeah, well, 0:12:56.840 --> 0:12:59.640 this is a great question. And first off, we're not 0:12:59.760 --> 0:13:02.880 an on profits, so we basically take no fees. We 0:13:03.400 --> 0:13:06.559 match sponsors who go to one Key project dot org 0:13:06.760 --> 0:13:09.560 and it literally takes ten minutes to sign up. We 0:13:09.640 --> 0:13:12.960 then have a queue of families that were vetted based 0:13:13.040 --> 0:13:18.440 on the applications, and our volunteers literally reading these application 0:13:18.520 --> 0:13:23.080 applications around the clock. And so once you know, once 0:13:23.120 --> 0:13:25.800 you sign up as a sponsor, you basically get matched 0:13:25.840 --> 0:13:28.480 to the family and you get instructions for how to 0:13:28.559 --> 0:13:33.080 send money directly to their bank. Account. I mean, it's 0:13:33.080 --> 0:13:35.520 really a wonderful project that you're doing, Alex. I am 0:13:35.559 --> 0:13:38.000 curious what you're hearing from families on the ground. We've 0:13:38.040 --> 0:13:41.800 just seen the horrific images images after images. What they're 0:13:41.800 --> 0:13:44.880 telling you about, how they're trying to continue to contact you, 0:13:44.920 --> 0:13:47.720 trying to continue to talk to donors from around the 0:13:47.720 --> 0:13:51.120 world while they are literally in the middle of a war. Yeah, 0:13:51.200 --> 0:13:54.360 and and you're you're absolutely right. I mean, we we 0:13:54.480 --> 0:13:57.120 are able to help families in war zones who lost 0:13:57.120 --> 0:13:59.600 their homes, were able to help families who are displaced 0:13:59.640 --> 0:14:02.439 with a new grain, and also families who are refugees. 0:14:02.520 --> 0:14:05.880 And consistent thing that we're here we're hearing from them 0:14:06.040 --> 0:14:10.360 is they need money for absolute basics like food, clothing 0:14:10.440 --> 0:14:15.000 for children, grant and increasingly people in Ukraine need money 0:14:15.080 --> 0:14:18.920 to be able to move out. And so we are 0:14:19.200 --> 0:14:24.520 absolutely flooded with incredible gratitude and love that also underscores 0:14:24.800 --> 0:14:28.920 really like strength and resilience of Ukrainian people and just 0:14:29.040 --> 0:14:34.440 how meaningful this money is. A thousand dollars helps them, 0:14:34.480 --> 0:14:37.040 you know, helps families with like three to four people, 0:14:37.080 --> 0:14:41.200 primarily you know, single mothers and people who just are 0:14:41.240 --> 0:14:44.160 not able to generate income in any other way, and 0:14:44.200 --> 0:14:47.280 so it's exceptionally meaningful. Alex talk to us about that 0:14:47.360 --> 0:14:50.840 long term resilience. We've been having a lot of conversations, 0:14:50.880 --> 0:14:53.440 of course in the middle of this the humanitarian toll, 0:14:53.560 --> 0:14:56.120 but long term, how you think. We just spoke with 0:14:56.160 --> 0:14:59.040 the Economic advisor right to the President of Ukraine about 0:14:59.040 --> 0:15:02.200 how you rebuild the roads, the bridges, the schools, the 0:15:02.280 --> 0:15:05.640 apartment buildings. Long term, how are you thinking about helping 0:15:05.680 --> 0:15:08.680 to sort of being able to rebuild if if people 0:15:08.840 --> 0:15:13.440 can return to Ukraine at some point. Yeah, and you know, Taylor, honestly, 0:15:13.560 --> 0:15:15.880 I wish we can stop tomorrow. I wish, I mean, 0:15:15.920 --> 0:15:18.440 I certainly wish every day the war stops immediately. But 0:15:18.520 --> 0:15:22.520 the problem is devastation is so big and the displacement 0:15:22.600 --> 0:15:24.960 is so large, There's so many refugees. It's going to 0:15:25.040 --> 0:15:28.080 take months and years to rebuild. And so the project 0:15:28.680 --> 0:15:31.840 has its meaning and the North Star like, our goal 0:15:32.000 --> 0:15:34.480 is to help as many families as we possibly can. 0:15:34.640 --> 0:15:37.920 So to date we've been able to um We've raised 0:15:38.000 --> 0:15:40.480 over two point seven million as of right now and 0:15:40.600 --> 0:15:45.760 helped over families. We have thirty five thousand applications and 0:15:45.800 --> 0:15:48.680 we know that there's about three million or more refugees, 0:15:48.760 --> 0:15:51.480 and so we've got a really long way to go. 0:15:51.680 --> 0:15:55.400 And you know, every thousand dollar counts because you know, 0:15:55.640 --> 0:15:57.880 you can make a difference in an input. And so 0:15:58.360 --> 0:16:02.360 our mission is to tenue through absolutely the end of 0:16:02.440 --> 0:16:05.520 the war, but more importantly really be the bridge to 0:16:05.600 --> 0:16:09.240 help these Ukrainian families to come back home and to rebuild. 0:16:09.880 --> 0:16:12.480 Really well, said alex Is Cold, founder of the one 0:16:12.560 --> 0:16:16.080 K Project for Ukraine. Really appreciate your time. Thank you. 0:16:24.200 --> 0:16:28.000 It's the return of in person events quick takes. Attison 0:16:28.080 --> 0:16:31.040 Mills speaks to the south By Southwest attendees in Austin, 0:16:31.120 --> 0:16:34.560 Texas as the conference returns for the first time since 0:16:34.560 --> 0:16:38.200 the start of the pandemic. Take a listen. We're here 0:16:38.200 --> 0:16:40.880 at south By Southwest in Austin, Texas for the first 0:16:40.880 --> 0:16:44.040 time in three years now. This conference used to draw 0:16:44.120 --> 0:16:46.800 over half a million people to the Austin area, but 0:16:46.840 --> 0:16:50.000 in March it was canceled due to the pandemic. So 0:16:50.040 --> 0:16:52.120 what's it like to be back. Let's talk to people 0:16:52.320 --> 0:16:55.560 by out huge south By canceling twenty was like a 0:16:55.600 --> 0:16:58.680 really big moment I thankful for like the world in 0:16:58.760 --> 0:17:01.760 my career professionally was nine months planning and activation to 0:17:01.800 --> 0:17:04.159 come back, and three days before we took off at 0:17:04.200 --> 0:17:06.280 all canceled and you can feel the excitement in the air, 0:17:06.440 --> 0:17:08.480 like people are really excited to be back and ready 0:17:08.520 --> 0:17:10.320 to be back. How does it feel to be back 0:17:10.400 --> 0:17:13.400 after three years of no South buy a really good 0:17:14.600 --> 0:17:17.280 How often does this happen where people just take your picture? 0:17:17.400 --> 0:17:21.480 I mean with this on, come on? So obviously canceled 0:17:21.520 --> 0:17:24.439 back in we're back for the first time in three years. 0:17:24.880 --> 0:17:28.040 What's the biggest change that you've noticed? People are definitely 0:17:28.119 --> 0:17:30.720 a lot more patient instead of being huddled up against 0:17:30.720 --> 0:17:33.040 each other. There's just a really good energy here. Everyone's 0:17:33.080 --> 0:17:35.880 really excited to see what the new exhibitions bring and 0:17:36.000 --> 0:17:38.520 just seeing blockchain and n f t s and more 0:17:38.560 --> 0:17:40.560 crypto coming to like the main front. I think that's 0:17:40.600 --> 0:17:42.720 probably the coolest thing. Do you feel like there's much 0:17:42.760 --> 0:17:45.480 focus on COVID or people just kind of ready to 0:17:45.520 --> 0:17:48.200 block it out nas Is, Texas. I don't think anybody's 0:17:48.240 --> 0:17:50.800 too worried about it. It seems like there's a littless people. Honestly, 0:17:50.840 --> 0:17:52.400 it doesn't feel like it's quite as busy as it's 0:17:52.400 --> 0:17:54.359 been a year's past, and I think there's also just 0:17:54.400 --> 0:17:56.679 like the rules of of COVID and staying safe, you know, 0:17:56.720 --> 0:17:58.320 we have to have the clear up with us and 0:17:58.359 --> 0:18:01.240 have masks and trying to navigate where and when it's 0:18:01.280 --> 0:18:04.080 safe to be masked and unmasked. Mixed bag. I feel 0:18:04.080 --> 0:18:06.280 like I'm seeing maths. I'm saying no math I think 0:18:06.280 --> 0:18:08.280 people aren't excited to be back in person um. They're 0:18:08.280 --> 0:18:10.399 trying to do it as safely as possible. So whatever 0:18:10.440 --> 0:18:12.399 that looks like to them. I like that it's almost 0:18:12.400 --> 0:18:15.159 a smaller scale. It doesn't feel as busy as other 0:18:15.280 --> 0:18:18.040 south By. It's definitely a little bit smaller this time around. 0:18:18.040 --> 0:18:21.560 For sure, small crowds are bad for small businesses. Bars 0:18:21.600 --> 0:18:24.119 and restaurants in Austin used to make half their yearly 0:18:24.200 --> 0:18:26.960 revenue just from south By Southwest alone. That may be 0:18:27.080 --> 0:18:30.240 harder with smaller crowds. But those who are here, including me, 0:18:30.520 --> 0:18:32.600 are ready to dive right in a lot of the 0:18:32.640 --> 0:18:35.200 local bars over on Rainy Street. This is like their 0:18:35.200 --> 0:18:37.959 life blood, these events. I'm super happy that we can 0:18:38.000 --> 0:18:40.119 have it and get keep them in business. It seems 0:18:40.160 --> 0:18:43.159 like business is back, and this is such a huge opportunity, 0:18:43.240 --> 0:18:45.680 such a huge travel destination. But I think it's gonna 0:18:45.680 --> 0:18:50.960 be really great for everybody. Quick takes Madison Mills, who 0:18:50.960 --> 0:19:02.440 gets all the fun assignments. This is Blimberg Technology. I'm 0:19:02.480 --> 0:19:05.080 Taylor Riggs in New York in for Emily Chang and 0:19:05.320 --> 0:19:08.080 Equal Pay Day. It was this week and it's an 0:19:08.080 --> 0:19:11.119 opportunity to shed a new light on what more needs 0:19:11.160 --> 0:19:14.479 to be done to ensure pay equity between men and women, 0:19:14.880 --> 0:19:17.399 which is something my next guest has been fighting for 0:19:17.520 --> 0:19:20.280 at Credit Carma ever since you joined the company back in. 0:19:21.440 --> 0:19:25.399 Colleen McCreary, chief People Officer, joins us. Now, great to 0:19:25.440 --> 0:19:27.080 have you, and I first want to start, you know, 0:19:27.080 --> 0:19:28.760 because you think of Credit Carma and you think of 0:19:29.040 --> 0:19:31.520 it's within the tech sector. And that's really, I think, 0:19:31.760 --> 0:19:34.359 from my knowledge, where some of the worst discrepancies have 0:19:34.480 --> 0:19:38.560 been when it comes to uh equal pay. What sort 0:19:38.560 --> 0:19:41.119 of the backdrop of the numbers behind you know, not 0:19:41.200 --> 0:19:44.480 only all sectors, but specifically tech sector as well, And 0:19:44.520 --> 0:19:48.920 are we any closer to closing that gap? Well, the 0:19:49.080 --> 0:19:52.280 unfortunate reality is that what we're still seeing is that 0:19:52.359 --> 0:19:55.520 women only make up about what of what a man 0:19:55.560 --> 0:19:59.280 makes um and almost any job. And and you know, 0:19:59.680 --> 0:20:02.000 I don't necessarily know if tech is any better or 0:20:02.040 --> 0:20:05.640 any worse, but I think tech is so competitive that 0:20:05.720 --> 0:20:08.800 it puts a big light on the talent shortage and 0:20:08.840 --> 0:20:10.560 the fact that they're not, you know, doing a great 0:20:10.640 --> 0:20:13.960 job of keeping and retaining their women, which obviously will 0:20:14.000 --> 0:20:16.359 come back down to how people are treated and how 0:20:16.359 --> 0:20:19.560 they're paid. What did you do then in Credit carmas 0:20:19.640 --> 0:20:22.439 you think about coming in in eighteen and some of 0:20:22.440 --> 0:20:25.439 the changes that you've found that really have worked and 0:20:25.480 --> 0:20:29.600 have stuck. Yes, So when I joined in eighteen, to 0:20:29.640 --> 0:20:32.399 put it in perspective of Credit carmis history, it was 0:20:32.440 --> 0:20:34.359 a start up for a long time. It was about 0:20:34.400 --> 0:20:38.359 seven hundred employees, and they had a massive attrition problem, 0:20:38.480 --> 0:20:43.320 um so almost attrition and also recruiting problem. And you know, 0:20:43.359 --> 0:20:45.920 the other piece was that their employees and employee surveys 0:20:45.960 --> 0:20:48.000 didn't believe that their pay was fair. And frankly, when 0:20:48.000 --> 0:20:50.359 I got there, I didn't understand how the employees were 0:20:50.359 --> 0:20:53.280 being paid either, and so you know, it took a 0:20:53.320 --> 0:20:55.919 bit of a journey to get there. Uh, And we 0:20:56.000 --> 0:20:58.719 moved to this system called role based pay, and instead 0:20:58.760 --> 0:21:02.200 of using ranges and instead of using like a performance 0:21:02.240 --> 0:21:05.040 review once a year and moving somebody's pay you five 0:21:05.040 --> 0:21:07.840 thousand dollars or two thousand dollars. There, everybody who is 0:21:07.840 --> 0:21:10.040 in the same job gets paid the exact same thing, 0:21:10.480 --> 0:21:15.640 regardless of how long they've been there and what gender 0:21:15.680 --> 0:21:18.320 they are or where they worked before. Is that that 0:21:18.480 --> 0:21:21.239 flash to that? Though? Sorry just to jump in. If 0:21:21.640 --> 0:21:26.199 someone for longer and I've committed and I've devoted myself 0:21:26.240 --> 0:21:29.719 to this company, I think that's a great question. Actually, 0:21:29.800 --> 0:21:34.080 what we've seen as the opposite, our attrition, frankly, even 0:21:34.080 --> 0:21:37.760 now is the lowest it's ever been. UM. And the 0:21:37.800 --> 0:21:39.840 other thing that we saw is that the offers that 0:21:39.960 --> 0:21:42.960 were accepted, uh. And what we you know, for the 0:21:43.000 --> 0:21:48.000 most part, employees really embraced the idea that they thought 0:21:48.080 --> 0:21:51.200 it was the most fair way of being rewarded, and 0:21:51.320 --> 0:21:54.680 they they understood where their pay came from, how we 0:21:54.680 --> 0:21:57.200 were determining it, and we reviewed it twice a year 0:21:57.240 --> 0:22:00.240