17 Burst results for "Francis Haugen"
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"Susanna Palmer in the Bloomberg newsroom. U.S. technology stocks are about to hit their next hurdle, vanishing profits when earnings season for the most influential segment of the S&P 500 Index gets underway in the coming week. Highlighting the risks ahead, Microsoft, which kicks off the group's reporting on Tuesday, joined Amazon.com in starting to cut thousands of jobs this week as sales slow. Google parent Alphabet has followed with plans of its own to shrink its workforce. Billionaire Elon Musk does much of his communication through Twitter, the troubled company he now owns, but on Friday Musk appeared in court on the witness stand in a trial over tweets that may have crashed the stock price of Tesla. Musk tweeted he claimed he had funding secured to take the company in private. This left many stockholders with big losses as investments were made on the information. Mark feige is a retired securities litigator. This is an unusually straightforward case. You have a couple of tweets that are as close to black and white as you can. Did he, in fact, have funding secured or not. So it's much simpler than the typical securities fraud case. Musk's testimony continues on Monday. Social media giant YouTube and its parent company Google will stand before the Supreme Court next month to defend its algorithms under a law known as section two 30. The decades old regulation gives them immunity from third party posters who violate the decency act. The lawsuit is being brought by a family of a terrorist attack victim, the family says YouTube helped promote and spread ISIS ideology. Facebook whistleblower and data engineer Francis haugen believes those algorithms aren't covered and these companies can do better. We have tools, but all these things decrease usage. You know, they make the companies a little bit less money. Now Gonzales was killed nearly 8 years ago in a 2015 terror attack in Paris, her parents have brought the suit to the Supreme Court. The U.S. has hit its federal debt ceiling and now the Treasury Department has launched the use of special measures to keep the country from defaulting on its debts details now from Bloomberg's Amy Morris in Washington. Treasury tapped the financial resources of two government run funds for retirees in a move that will give the treasury some room to keep making federal payments until it can boost the overall level of debt. They say they'll return that money once the debt limit is increased. Treasury secretary jennette Yellen says the timeline is so uncertain she's urging lawmakers to act soon. In Washington, I'm Amy Morris Bloomberg radio. We mentioned at the top that a lot of technology companies are coming out with earnings in the week ahead. But it isn't just tech. There are a whole bunch to watch for, including 3M American Airlines, American Express, Comcast, General Electric Halliburton Johnson & Johnson, Kimberly Clark and Lockheed Martin, and that is just naming a few. Global news, 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Susanna Palmer. This is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest sound on podcast, a conversation with former Secretary of Defense Mark Esper on supporting the war effort in Ukraine. What we need are armor, heavy armor, tanks, because tanks lead the push. They punch through the lines, they have the mobility, the firepower, and the protection to do so while safeguarding the force. And that's the critical missing element right now. For the most part, the Brits have promised to provide 14 challenger tanks, but what you need are tanks and the triple digits to make this real. So Mark Esper, what is the timeline as we work this out with Germany, whether it's leopards, M ones, whatever end up there. How much time do we have before it's too late? Not much. I mean, look, time is now. That's why I think we are moving now. It takes at least for the United States, of course, to ship them, would take weeks. You have to get them to the units within Ukraine. You have to train up the soldiers, not just to operate them, but to maintain them. So this process could take several weeks a couple of months, and then you look at the timeline for the year. When does the weather start improving for either the Russians to conduct an offensive, whether Ukrainians to beat them to the punch. And again, while it's important that we provided Bradley's and strikers, you would never send those vehicles into a battle against Russian armor. You have to leave with your own tanks. And that's where the Germans become the critical component here. I want to ask you specifically about the M1 Abrams tanks. Number one, you know, they're very expensive to maintain. It also involves a lot of training that would be necessary. They have a jet engine essentially in them and as I understand burn three gallons to the mile. Is that even practical for Ukraine? No, I think the German leopards are the better choice here. I've been critical of the administration for being behind the curve when it comes to sending other weapons systems and air defense systems and whatnot. But in this case, they're right
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"Susanna Palmer in the Bloomberg newsroom. U.S. technology stocks are about to hit their next hurdle, vanishing profits when earnings season for the most influential segment of the S&P 500 Index gets underway in the coming week. Highlighting the risks ahead, Microsoft, which kicks off the group's reporting on Tuesday, joined Amazon.com in starting to cut thousands of jobs this week as sales slow. Google parent Alphabet has followed with plans of its own to shrink its workforce. Billionaire Elon Musk does much of his communication through Twitter, the troubled company he now owns, but on Friday Musk appeared in court on the witness stand in a trial over tweets that may have crashed the stock price of Tesla. Musk tweeted he claimed he had funding secured to take the company in private. This left many stockholders with big losses as investments were made on the information. Mark feige is a retired securities litigator. This is an unusually straightforward case. You have a couple of tweets that are as close to black and white as you can. Did he, in fact, have funding secured or not. So it's much simpler than the typical securities fraud case. Musk's testimony continues on Monday. Social media giant YouTube and its parent company Google will stand before the Supreme Court next month to defend its algorithms under a law known as section two 30. The decades old regulation gives them immunity from third party posters who violate the decency act. The lawsuit is being brought by a family of a terrorist attack victim, the family says YouTube helped promote and spread ISIS ideology. Facebook whistleblower and data engineer Francis haugen believes those algorithms aren't covered and these companies can do better. We have tools, but all these things decrease usage. You know, they make the companies a little bit less money. Now Gonzalez was killed nearly 8 years ago in a 2015 terror attack in Paris, her parents have brought the suit to the Supreme Court. The U.S. has hit its federal debt ceiling and now the Treasury Department has launched the use of special measures to keep the country from defaulting on its debts details now from Bloomberg's Amy Morris in Washington. Treasury tapped the financial resources of two government run funds for retirees in a move that will give the treasury some room to keep making federal payments until it can boost the overall level of debt. They say they'll return that money once the debt limit is increased. Treasury secretary Janet Yellen says the timeline is so uncertain she's urging lawmakers to act soon. In Washington, I Amy Morris Bloomberg radio. We mentioned at the top that a lot of technology companies are coming out with earnings in the week ahead. But it isn't just tech. There are a whole bunch to watch for, including 3M American Airlines, American Express, Comcast, General Electric Halliburton Johnson & Johnson Kimberly Clark and Lockheed Martin and that is just naming a few. Global news, 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Susanna Palmer. This is Bloomberg
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"President Biden is planning to meet with Republican House speaker Kevin McCarthy to discuss the debt ceiling, reporter Julie serkin has more from Capitol Hill. Figure Kevin McCarthy immediately pretty much responding on Twitter about a meeting at The White House saying quote, President Biden, I accept your invitation to sit and discuss a responsible debt ceiling increase to address irresponsible government spending. No official time or date has been set. The Justice Department is investigating Abbott Laboratories nearly a year after the baby formula shortage. The Wall Street Journal reported on Friday investigators are focusing on Abbott's plant in Sturgis, Michigan, Abbott shut down production at the huge plant last February, after infants who consumed formula made there became sick. Military officials are confirming the death of a former navy seal in Ukraine. The U.S. Navy says it's unclear why Daniel swift was in the Eastern European country, swift was a special warfare operator who had been listed as an active deserter since 2019. That's the latest I'm Julie Ryan. And I am Susanna Palmer in the Bloomberg newsroom. U.S. technology stocks are about to hit their next hurdle, vanishing profits when earnings season for the most influential segment of the S&P 500 Index gets underway in the coming week. Highlighting the risks ahead, Microsoft, which kicks off the group's reporting on Tuesday, joined Amazon.com in starting to cut thousands of jobs this week as sales slow. Google parent Alphabet has followed with plans of its own to shrink its workforce. Billionaire Elon Musk does much of his communication through Twitter, the troubled company he now owns, but on Friday Musk appeared in court on the witness stand in a trial over tweets that may have crashed the stock price of Tesla. Musk tweeted he claimed he had funding secured to take the company in private. This left many stockholders with big losses as investments were made on the information. Mark feige is a retired securities litigator. This is an unusually straightforward case. You have a couple of tweets that are as close to black and white as you can. Did he, in fact, have funding secured or not. So it's much simpler than the typical securities fraud case. Musk's testimony continues on Monday. Social media giant YouTube and its parent company Google will stand before the Supreme Court next month to defend its algorithms under a law known as section two 30. The decades old regulation gives them immunity from third party posters who violate the decency act. The lawsuit is being brought by a family of a terrorist attack victim, the family says YouTube helped promote and spread ISIS ideology. Facebook whistleblower and data engineer Francis haugen believes those algorithms aren't covered and these companies can do better. We have tools, but all these things decrease usage. You know, they make the companies a little bit less money. Now, Amy Gonzales was killed nearly 8 years ago in a 2015 terror attack in Paris, her parents have brought the suit to the Supreme Court. The U.S. has hit its federal debt ceiling and now the Treasury Department has launched the use of special measures to keep the country from defaulting on its debts, details now from Bloomberg's Amy Morris in Washington. Treasury tapped the financial resources of two government run funds for retirees in a move that will give the treasury some room to keep making federal payments until it can boost the overall level of debt. They say they'll return that money once the debt limit is increased. Treasury secretary Janet Yellen says the timeline is so uncertain she's urging lawmakers to act soon. In Washington, I'm Amy Morris Bloomberg radio. We mentioned at the top that a lot of technology companies are coming out with earnings in the week ahead. But it isn't just tech. There are a whole bunch to watch for, including 3M American Airlines, American Express, Comcast, General Electric Halliburton Johnson & Johnson Kimberly Clark and Lockheed Martin and that is just naming a few. Global news, 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Susanna Palmer. This is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest edition of the Bloomberg businessweek podcast, a conversation with Bloomberg consumer reporter, Dina Shanker, on the cover story, why faith me has fizzled out. It's been years in the making because that IPO was huge. And everyone was excited about it. I mean, the entire industry suddenly you had the small new startups that were coming up that were getting tons of funding because everyone's opportunity here. You had the big food companies coming out with new products or reinventing old ones. Everyone wanted a piece of this because everyone thought, yeah, we can convince meat eaters to sub something else in. But it turns out that that's a really hard sell. And it's going to get even harder if the food doesn't taste quite as good. And it doesn't. According to most people, that you will ask about it. It's also more expensive. And then, yes, environmentally, these things are so much better for the planet, but most people aren't buying for the planet. They do care about their health, but then it turns out these products are not healthy. Now, some people might say they're marginally healthier. But even that is not settled. So consumers just really started backing away. And we saw sales plummet at the supermarket, restaurants, just everywhere, basically. If it was healthy, I'd be a buy in. I mean, what exactly is in it? I mean, I know there's a lot of sodium, right? Not good. What else? So these are ultra processed foods, which means that the ingredients themselves are processed or they're extracts of other foods. So that means the ingredient list, are they so crazy compared to other things in the supermarket, they're not. There's
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"Now drop it all up. I want to bring in our own Sarah fryer, our Bloomberg tech editor to cap this crazy day and talk about what this means for the future, Sarah, a lot of huge existential questions here. Let's say Elon Musk does by Twitter. It's a done deal. How do you imagine as someone who has covered social media for the better part of a decade? How do you think he'll change? Twitter and social media. I think he's very quickly going to find out that a lot of the things that he wanted to do to change it such as these broad notion notions of advocating for free speech are a lot easier said than done. I think that he, as we've seen in his text messages, gets a lot of feedback from very powerful people around the world and sometimes acts on it. And so I think he's going to be really grappling with that and trying to figure out what principles to push for and what is worth ignoring. I wonder if Twitter will be under even more scrutiny also with Musk as a sole owner. You know, I think about the security that Mark Zuckerberg has gotten at Facebook. Will the pressure be even higher? The pressure might be higher, but we're not going to get as much information. It's going to be more of a black box. I think that as a private company, Twitter is much less likely to tell us how it's growing or how its business is doing. And Elon Musk will be the main source of information. So it's going to be even more critical for journalists like us to really find out what's happening behind the scenes. I do think that there are going to be a lot of disgruntled employees. People who already tell us that they're not looking forward to leadership under Musk for whatever reason. And I think that it's going to be a big cultural change for the company, especially in issues as simple as work from home as Elon Musk has said that he's not, he's not a big supporter of that. Quickly, are you expecting an exodus of employees or also potentially an influx? Definitely both, right? I think that we're going to see people who are huge fans of Elon Musk and what he's accomplished elsewhere. Say that they'd love to work for him in Twitter. I think we're also going to see employees who disagree with him, try to find other employment. But that's that. It is a tough time. There are hiring freezes across the board at tech companies. Companies that are cutting their budget. So if you are a Twitter employee who is trying to get out of there, you've probably already tried to start your search. I think that a lot of employees are sort of figuring that out right now. And we're a little uncertain. And I think there are still some uncertainty about whether this is going to actually happen. All right, Sarah, thank you for giving us a little view into your version of the crystal ball, big hard questions at hand, Bloomberg Sarah friar. Thank you. That does it for this edition of Bloomberg technology. We're going to be across all developments on this tomorrow, of course, and also Francis haugen. Is joining us. The Facebook whistleblower, one year after her historic testimony before Congress. I'm sure she has some thoughts on Elon Musk owning Twitter as well. I'm Emily Chang in San Francisco. This is Bloomberg. You know the difference between your bank and the banking business. The new chief executive will take the bank in
Democracy Now! Audio
"francis haugen" Discussed on Democracy Now! Audio
"Is happening. We will not arrive in time to save the planet in the netherlands. Dutch pension fund giant. Ab p. says it'll divest more than seventeen billion dollars assets from fossil fuel companies ahead of the cop twenty six. Un climate summit which opens next week in glasgow ap said as recently as june it would keep its fossil fuel investments but reverse course amid widespread protests and legal challenges. In britain facebook whistle blower francis haugen testified before the british parliament for more than two hours. Monday providing more damning evidence and how the social media giant prioritized profitability while allowing misinformation and violent and hateful content to spread on its platform. How testimony came as the united kingdom and the european union or both expected to introduce new digital and consumer protection measures. You know mark zuckerberg is a has unilateral control over three billion people right. There's no will at the top to make sure these systems are ryan inadequately safeway. And i think until we bring in counterweight things will be operated for. The shareholders interest not for public interest francis how turned over thousands of pages of internal facebook documents to us. Regulators which are now the basis of the damning series of reports facebook. Papers that are being published this week. We'll have more on those revelations after headlines in guatemala indigenous leaders are denouncing the government's enactment of a month-long twelve hour curfew and a ban on public gatherings in the northern coastal town of stored in retaliation for protests against the nickel mining projects. Some five hundred soldiers have also been deployed to the region indigenous communities. Say they were never consulted on plans. For the massive mining project led by the swiss-based solway investment group in recent days guatemalan police and military violently repressed peaceful protests led by maya catchy indigenous communities who say the mind would have catastrophic impacts on land water and people. Amnesty international is closing. Its hong kong office by the end of the month citing fears for the safety of staff working under sweeping national security law imposed by chinese authorities in beijing. Amnesty's regional headquarters will close before years and in a statement. Amnesty international said hong kong's national security law has quote made it effectively impossible for human rights organizations in hong kong to work freely without fear of serious reprisals from the government. They said turkish president trip. Type air doin has reversed plans to order the expulsion of ten foreign ambassadors from nato allies. The diplomatic row began after diplomats from the us and its allies issued a joint statement urging the release of turkish political prisoner. Oestmann kevollah back in the united states. A new safety report released by the ride hailing app lift is shedding light on an increasing number of sexual assaults during rides in recent years over four thousand reports of sexual violence were made from two thousand seventeen to nineteen at least three hundred sixty where reports of rape the report also listed ten deaths from physical assaults from two thousand seventeen to two thousand nineteen. It's been three years since. I pledge to disclose the information along with its rival uber as both companies have come under fire over sexual violence and other serious safety problems in virginia. Jury selection has begun in federal civil trial that charges the organizers of the deadly white supremacist unite the right rally in two thousand seventeen with an unlawful conspiracy to commit violent acts the lawsuit sites in eighteen. Seventy one law known as the ku klux klan act which allows private citizens to sue other citizens for civil rights violations and. The white house has rejected former president. Trump's latest claims of executive privilege again as he attempts to block the handing over of documents requested by the congressional committee investigating the january six cents direction at the capitol. Trump is already filed a lawsuit to stop the national archives from releasing documents to congress is part of the probe. The national archives set to begin turning over records to the us house of representatives next month unless trump wins a court order to block the request and those are some the headlines. This is democracy now democracy now dot or the warren peace report. I mean me. Goodman in new york joined by democracy now co swung then solace a new brunswick new jersey. High one hi. Amy and welcome to all of our listeners and viewers across the country and around the world thousands of pages of internal documents leaked by former facebook. Product manager turned whistleblower. Francis hogan are now the basis of a damning series of reports called the facebook papers being published this week. They show how the company's choices prioritize profits over safety and how it tried to hide its own research from investors in the public. A new story published this morning by the associated press finds the facebook documents show. The platform ignored some of its own researchers suggestions for addressing vaccine misinformation facebook. Chief executive mark zuckerberg pushed back monday. During an earnings call with investors calling the reports published quote coordinated effort to selectively us leaked documents to paint a false picture of our company unquote but fallout from the facebook papers continues to generate political support for increased regulation after testifying before congress earlier this month on monday. How can testified for more than two hours before the british parliament as the united kingdom and the european union are both planning to introduce new digital and consumer protection measures. She spoke about the social harm generated. One facebook's platform is used to spread hate speech in incite violence without adequate content moderation in local languages such an ethiopia which is now engulfed by civil war. I think it is a grave danger to democracy societies around the world to omit societal harm to give like a core part of why i came forward was i looked at the consequences of choices. Facebook was making. And i looked at things like the global south and i believe situations like ethiopia are just part of the opening chapters of a novel that is going to be horrific to read right. We have to care about societal harm. Not just for the global south but our own societies because like i said before when oil spill happens it doesn't make it harder for us to regulate oil companies but right now. Facebook is closing the door on us being able to act like we have a slight window of time to regain people control over a i. We have to take advantage of this moment. Francis hogan's testimony comes as the news outlet. The verge reports facebook plans to change. Its company name this week to reflect its transition from a social media company to being metaverse company. Facebook has already announced plans to hire thousands of engineers to work in europe on the metaverse in the coming weeks how to schedule to meet with officials in france germany and the european union for more. We're joined by ramesh lavar son professor of information studies at the university of california los angeles. Ucla where he also directs the digital cultures lab. Welcome back to democracy. Now it's great to have you with us professor on. Can you talk about the significance of what has been released so.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"Right Charlie we thank you It was another day of testimony for Francis haugen answering questions This time in parliament UK very similar to the questions she recently answered on Capitol Hill During my time at Facebook first working as the lead product manager for civic misinformation and later on counter espionage I saw Facebook repeatedly encounter conflicts between its own profits and our safety Facebook consistently resolve these conflicts in favor of its own profits The result has been more division more harm more lies more threats and more combat That was Hagen three weeks ago in a U.S. Senate hearing And the story is deepened Have you read through this stuff on the terminal Massive cache of internal documents showing employees were concerned about the spread of hate speech leading up to January 6th That reminded in general and they were contradicting in these internal communications and looking at emails and chats contradicting the company's public statements about competition So we are asking will all of this strengthen the antitrust move on Facebook We've already talked about it long before we ever heard Francis haugen With lawmakers on both sides of the aisle taking aim at the social network And we talk about it with Bill bear Former assistant attorney general for antitrust and the Obama administration is now visiting fellow in governance studies at the brookings institution Bill I'm glad you're with us Thank you for joining us What is your take on the greater question here Does this make it more likely that Facebook is broken up or faces more strict regulations or is all of that inevitable in your view Until this hurts It risks hurting their defense to the FTC charges monopolization At the end of the day credibility matters It reminds me of that great Marx brothers line Who are you going to believe me or your own the Facebook public utterances Are not matching what these documents reveal they were saying in private that hurt Think about company witnesses who may be testifying in the FTC trial down the road If they have said one thing in public and private that affects how the judge is going to view what they have to say about whether they have market power or not So if you're making this case Bill you're just gathering right now You're gathering documents You're building this case to be greater than it was before this all began Correct And this does help the company no doubt about it They've got good lawyers They've got good lobbyists I don't need to tell you that as they note that hate speech represents well under 1% of overall content on the platform and is declining Will that matter Well the FTC case is going to be less about the quality of the speech Yeah And more about whether Facebook has market power monopoly power and while Facebook says people are free to move to another platform The fact of the matter is you're not going to move to another platform If in fact your friends and family are all on Facebook or all on Instagram right If you move you're not going to be able to talk to anybody Because they're all still on Facebook You're move only make sense if everybody else moves They call that network effects And right now Bloomberg has a network Facebook has a network through Facebook and we have a different network Yeah Yes But a good one Yes We like to think so I guess the question I'm asking is you know these are all human beings working in the FTC Bill You know plenty of them or certainly their breed And I wonder if this storyline forget lawmakers I think I know where lawmakers are on this but does this storyline when it comes to the agency Create more of an urgency to do something about it even if they're not going after the speech aspect Does this reinforce that sort of personal drive to regulate this company as a monopoly Well I think it does reinforce as you say both on the hill And that at the Federal Trade Commission this sense that this company is both powerful And lacking in some degree of credibility And that reinforces I think what the FTC said when it brought its initial complaint later amended in response to the Discord judge But I think for the most part those professionals at the SEC and it the antitrust division they're professionals They focus on what they can prove and how they're going to prove it So I don't think this is happening but reinforcement of that Facebook hasn't been quite truthful with the government Going with U.S. dollars We have a little trouble with your line Bill So hopefully it'll hang in another minute I'm just curious what you see as a potential outcome here Are we talking about breaking up the company or creating rules of the road for this company It's too early to tell You know Facebook has been talking about creating rules of the road as an alternative path to a breakup We're going to ask you what the evidence is I think at the end of the day it is hard to separate outlines of commerce that have been integrated especially in a high-tech platform So we're going to have to see where that all goes But at the end of the day I think this does give impetus for some sort of some form of increased regulation Over Facebook How long does it taste like this take in your view Well longer than it should And this case is not set for trial until 2013 at the earliest And there'll be appeals Harvard comes out So we're a long way away which is one of the reasons why lawmakers are thinking of a legislative in an effort to get more control over this environment because they have today Boy we will not hold our breath but I like the idea of talking to Bill bear again Thank you bill for being with us It's great talking with an expert Who knows what they're talking about is the former assistant attorney general for antitrust That's why he was with us of course with the brookings institution and I want to play this against the panel We will reassemble Rick and Jeannie get their take on the latest from Facebook and we'll look ahead to the Virginia governor's race My God it's just about a.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"Earnings after the bell but also another round of testimony from whistleblower Francis haugen this time in the UK with more internal documents Emerging some that contradict Facebook's public stand on competition We'll get into that with Bill bear Former assistant attorney general for antitrust in the Obama administration will sort it all out with the panel Bloomberg politics contributors Genie Chan Sano and Rick Davis are with us for the hour and first the busiest week for earnings is now underway so let's get a check on the market for the busy man named Charlie pellet Fast to saar in politics Joe Matthew we've got the Dow the S&P and NASDAQ all advancing today the Dow the S&P climbing to records but you mention what's going on after ours Conference call for Facebook just getting underway after what many are calling better than feared results but Facebook the world's largest social media company did report strong third quarter revenue growth but did deliver a tepid forecast for sales and the current period After ours the stock is moving higher up now by 3.6% Another record on Wall Street traders gearing up for a busy week of technology earnings while keeping in mind inflation concerns and rising COVID-19 risks S&P up 21 points to our record 45 66 up 5 tenths of 1% The Dow up 64 of two tents nez stack up 136 up by 9 tenths ten year yield 1.63% spot gold 1807 the ounce while West Texas intermediate crude 83 76 a barrel briefly Bitcoin today at 62,579 I'm Charlie pellet Thatcher is a Bloomberg business flash.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"Here's Danny burger Joining us now to discuss his Janet movie investment director at Bruin dolphin So there had been this idea that tech was immune to some of the supply chain issues Should there be more concern about tech and being less immune to some of these supply chain constraints than originally assumed I think it does raise some concern over the sector But generally the tech sector is still one of the better sectors to be positioned amid this high inflation pressure I think investors are right to be worried about inflation There's increasing signs that this is going to last longer than what transitory originally means And I think that there is a supply issue that affects the supply of goods But actually if you look at the demand side of things it remains pretty strong looking across the number of surveys and the actual data like retail sales consumer that's still spending So there's this desire to spend about it's just not getting the goods because the container ships are stuck somewhere So what we do believe that this advertising problem that some of these tech guys are facing is likely to be temporary Once that supply chain concerns gradually dissipate So that could be an overreaction from investors in terms of the share share prices reaction for example Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app Or check your local cable listings is budget leading with the Chancellor's pledge to kill Markets headlines and breaking news 24 hours a day Dot com the blue book business app Quick take This is a Bloomberg business plan From Bloomberg's European headquarters in the City of London on lower right with this Bloomberg radio business But shall we heard over the weekend Janet Yellen speaking to CNN So I think herk and son and inflation will persist until the second half of 2022 and believing that the debt ceiling should be increased U.S. benchmark ten year treasury yielding 1.659% also Facebook kicking off the tech Titan earnings aftermarket today Francis haugen the.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"For the next week What more bad news about Facebook Are we going to see and talk to us about the company's PR strategy I mean they're not They're not pulling any punches right now I would say this is the most aggressive combative that I've seen Facebook PR in the 8 years that I've covered the company It seems very clear to me that they are worried about what's going to be coming out But also feeling not just worried but actively defensive because they don't feel like they're getting a fair shake here You saw that from a tweet thread that their comms team posts earlier this week kind of accusing journalists of teaming up together almost conspiratorially against the company And so I think this is you know I've been saying this for a couple of weeks I mean there's tens of thousands of documents that Francis haugen brought when she left the company We've seen what a half dozen stories from the journal right I just think there's a lot more to uncover There's a lot of people who are starting to get their hands on these documents And so I think this is just the beginning of what's probably going to be a very long month and news cycle for Facebook as people start to parse through some of this stuff And David obviously you spoke to Mark Zuckerberg many times over the last decade and a half I'm curious what you think is going on inside his head right now as he contemplates this rebound brand thinks about the company's future and is getting kind of attacked on all sides Well I often say that I really didn't anticipate that he would become so beleaguered and so self righteous When I spent so much time with him back in the earlier years I think what goes through his head is fundamentally that he is absolutely firmly convinced that what he's doing is good for the world and that we don't give him credit We don't understand it and it's not his fault It's our fart fault for not really getting it for not realizing all the good that Facebook does for the world And because he's so has so much certitude about that he basically is unbending in the face of almost literally any criticism despite the fact that so much of it is so well founded even with documents now All right well the verge is reporting that this name change could be revealed on October 28th which is the same day as Facebook's connect event which we will all be tuning into Bloomberg reporter Kurt Wagner takani founder and editor in chief David kirpatrick Thank you both Meantime Facebook has been fined $70 million by the UK's merger watchdog for failing to update regulators on its acquisition of giphy The UK's competition markets authority said Facebook consciously refused to follow UK law requiring companies to remain separate while an investigation into a proposed deal has been underway The decision on the deal is expected by December 1st Coming up as Bitcoin hits an all time high traders can now Jack up their bets with options on the newly minted pro shares Bitcoin strategy ETF We'll talk about the current crypto landscape and how high Bitcoin's price can go Next this is Bloomberg Economics All this doomed gloom is out there finance Do you see this as a technical correction investment What are you looking at to give you some sort of compass through this period That's Bloomberg surveillance podcast Lots and lots of talk about what the fed should and shouldn't do John.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"This whistleblower Francis haugen who has exposed some very uncomfortable tools about research that Facebook did on itself What's been your reaction to her revelations So good for her for coming forward Good for Facebook for doing the research Bad for not like well you did the research She discovered some things that were harmful What are you doing about it It doesn't matter the fact that you say well you know maybe it's complicated or difficult It's once you discover something that is really potentially very dangerous and damaging What we should now hear from the company is and here's when we saw these reports here's the stuff we started doing Here's the way we started making tradeoffs against what might otherwise be on our interest engagement revenue whatever in order to solve these problems And that's what you want to see from companies in leadership So you're disappointed I'm disappointed Why Well because anything it's okay to have done the internal research and not reported it That's okay because like look yeah this is a problem we're fixing it But you then start the work streams to fix it Right And so one hand you say well we have these reports in this issue And what do we do We disbanded the civics integrity group You're like well that doesn't seem like you're working on it It doesn't seem like the problem is fixed So I think it's beholden on business leaders to say look when we hit these problems we work on them It doesn't mean look we didn't know this was gonna be a problem We didn't know it was gonna be an issue It's fair enough right And we're just and by the way we're following what customers want because they're clicking on things But wait there are these consequences and we should do something about the consequence It doesn't mean you can solve it perfectly but you should be working on it The research around children is particularly troubling You have this research that shows that Instagram can be harmful to teenagers And yet at the same time you're exploring building social products for kids as young as 5 years old Yeah What's wrong with that picture Is that I mean isn't that a little terrifying Well I think there's a chance where sometimes that product for 5 year old is great right Like it could be really educational learning engagement connectivity but you have to study it and you have to get it right The kids the whole reason we have childhood is we protect them and help them grow into adults Everyone has a responsibility there And at this point can we trust Facebook to be building the social network for kids I mean let's be honest Well I think they have lost trust for good reasons with this because you're not even responding to this crisis the right way I think that to regain it they have to be extra transparent They have to come forward and say look here's our dashboards Here's our metrics Here is the ways that we are trying to work on this and do things And that's the thing that is incumbent upon them to now start doing Don't say oh we have problems with a whistleblower Say here's what we're working on Here's what we're doing We know this is a problem we're working on Have you talked to mark at all and how do you think he is handling this Not yet Undoubtedly think that they have a whole bunch of eternal discussions going on right now and I wouldn't want to interrupt I mean I'm happy to help however I can I think he's a learner I think I have optimism and hope that he will learn from this His feet being applied to the fire is a good thing in this instance And then he will go okay I now need to make sure that we are being fully investing in protecting children And I think that's the stance the company needs to be at So what is the solution What is the role for regulation So while there's regulation but I think it starts with what's the dashboard that Facebook should be managing towards So for example you said well we have an engagement dashboard We have a session dashboard We have those Great We should also have other things on dashboard We should say well look if it's causing we know that certain kinds of content is causing body image issues or causing other kinds of things What we should add that to our dashboard and we should be measuring to make sure that we are having a positive impact there not a negative You don't just need one variable You don't just need the well do they click on it That's not the only variable You can put other variables in it It's part of the reason why you have a large company And that's the kind of thing that I would want to be hearing from Facebook about yeah yeah we got it and we know what we're working on And these are some good metrics that we should work towards and we are going to improve these metrics and we're going to report it on them at least to our auditors and we are going to work on this problem So here's another way to ask the question is Facebook too big to govern and too big to govern itself If you have a company with even the wisest people in charge Can they really be making decisions about every single moral ethical religious political legal issue in every single country around the world in every language How do you even possible Look at challenging and it's never going to be perfect There's always going to be lots of errors But I do think for example one thing like take for example the issues of governance and other languages where you don't have it We have AI that's getting much much better on languages Now it's not quite there yet but it's within two or three years You suddenly have kind of the equivalent of a universal translator That will make it easier That doesn't solve all the issues as cultural issues There's other kinds of things There's a political revolution here There's other things going on But that being said one of the benefits of having a central service is that you can invest in these kinds of protection mechanisms You can invest in the AI You can invest in that dialog and making it happen I actually think there are good things about global services as well where we understand other people So you don't necessarily think Facebook should be broken up I mean because the proposal has been break up the Instagram what's up Facebook or even break up Facebook India That should be its own thing So I'm precisely think the wrong answer is break up Right It's not to say that there aren't start with accountability start with transparency start with a dialog what you're doing See if you need regulation from that point of view Maybe you need to do a public private thing that's breaking up means that you don't have the resources to invest in that centralized thing Think about it this way I break it up and all of a sudden I got lots of four chains and reddits and everything else And it's even more mayhem So breaking up is not the answer Do you think the algorithm is the problem a and B do you think they should be choosing people over profit more often So the algorithm is part of the problem but also can be part of the solution which variables your.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"Kong observatory says it signal three store warning will remain in effect this morning and that it may increase to as much as signal 8 this afternoon severe tropical storm capacity skirting to the south of Hong Kong Gale force winds increasing as it approaches in the northern part of the South China Sea kindergartens have already been suspended As Singapore announces an opening of air travel restrictions there was well certainly interest Singapore airlines website was temporarily down over the weekend as people tried to jump in crash Southwest Airlines canceled more than 350 flights today following a very bad weekend The company says weather in Florida Others are saying it is a staffing shortage because of mandatory vaccination requirements and a pilot sick out The company says that is not true Merck has sought use authorization in the U.S. for its first oral antiviral treatment for COVID-19 Thailand has unveiled a road map to revive its tourism reliant economy by gradually scrapping a mandatory quarantine for vaccinated visitors UK pregnant women who have not been vaccinated against COVID-19 account for almost 20% of critically ill coronavirus patients in England's hospitals China's president Xi Jinping will have a phone call with president of the European council Charles Michel on Friday and Facebook whistleblower Francis haugen will appear before the UK and EU parliament October 25th In San Francisco I'm a Baxter R back to you mister Curtis All right thanks very much It's time now for the daybreak Asian media and tea leaves review We look at some of the top stories in media websites and in newspapers across the region Well for many of you you may have noticed Tencent has bounced about 10% in a week the stock and Alibaba is up about 20% or so in about ten days to two weeks So you might think well the regulatory crackdown in China may be winding down Well we have a report in The Wall Street Journal suggesting that now the banks and their regulators may be the next big target The newspaper reports the president Xi Jinping has ordered an investigation on financial regulators This would be to see if the PBOC and some of the banking insurance and securities watch dogs have been negligent or have grown too close to chummy to the firms that they supervise So we'll be checking this one And also from Chinese state media China's envoy tiangong says this is no time for James Bond theatrics by the United States Let's talk recoupling Chin told Phoenix television in China that the U.S. Cold War playbook should be left to Hollywood blockbusters Trade frictions are normal The key is how to deal with them And that is to look at the media Paul and dug to you All right thanks very much Brian Well we have oil right now trading at $80 and 29 cents to talk about this and other matters and Mike mcclone commodity strategist for Bloomberg intelligence Mike that oil price continuing to gain strength But how long can this continue Because Bloomberg measles also reporting a revival of shale drilling in the permanent Permian Basin in the U.S. now So have we reached the peak here Are we close to it Hello It's hard to tell exactly when the whole short covering issue is going to stop But I think who else putting in an enduring peak like it did from 2011 2014 you just mentioned shale back around 2014 the average cost for U.S. shale was closer to $60 a barrel Now it's $35 a barrel and just it's going to get ramped up It's just a matter of time and demand is flat and has been fun Now we have the highest incentive for more supply and less demand than we've had in 6 or 7 years So to me those major forces that have kept crude oil right now about half its peak from 2018 are just starting to accelerate So I think this is a short term gain in the longer term cure for higher commodity prices in crude oil the main spot you fully expect a year from now the price is at $72 a barrel And in fact I think I'll actually be lower Now that's just looking at the quarter to curve in futures It's very interesting that you attribute the move that we have seen to the upside to short covering Mike and I'm curious whether or not the same would apply to other commodities when you look at natural gas We were talking earlier about iron ore prices being up 50% over the last three weeks coal prices in China now kind of record levels Is the same to be said for each of these separate commodities that we're seeing kind of a short squeeze of sorts Well part of it is that Doug but I think this is legitimate buying my glad you mentioned natural gas Natural gas is what's pulling up most of the sector a lot of the short term issues with supply and on the back of the hurricane U.S. but it's been the worst performing most deflationary commodity in the history of commodities for last 20 years The price of natural gas right now the benchmark U.S. about 5 was first traded about 15 years ago and CPI is up almost 40% since then And the peaks have been around 6 Now it's also this time of year It's getting to November So the market is only price for a bad winter That's the major risk The average cost of U.S. sale natural gas production is around 1.5% and it's trading at 5.3 So we all know there's massive supply that just can not wait to come back on It's the same rinse and repeat That.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"With David Weston on Bloomberg radio Facebook was a blower Francis hall gun a former product manager in the civic integrity unit testified this week before Congress about some of the dangers that Facebook poses Facebook knows that it's amplification algorithms things like engagement based ranking on Instagram can lead children from very innocuous topics like healthy recipes I think all of us could eat a little more healthy All the way from just something innocent like healthy recipes to anorexia promoting content over a very short period of time For his takeaways from the testimony I talked to early Facebook investor roger mcnamee cofounder of elevation partners and author of zucked waking up to the Facebook catastrophe Roger told me that Francis haugen had an extraordinary amount of access in her role at Facebook She was absolutely at the center civic integrity was responsible for addressing harms to users So she was in exactly the right place She's just utterly convincing in everything she does I thought her testimony was exceptional I can not tell you how much of a relief it is to me that she has come forward because we have known about these issues but what her work has done in bringing out tens of thousands of pages of documents is to eliminate Facebook's argument that they didn't know It is incredibly clear from these documents that Facebook crafted a business model based on attention It was designed to maximize profits at any cost which is an understandable thing in capitalism So it's completely understandable that it would work that way But at the same time in this case the harm that was done to public health to democracy to teenage girls has been incalculable and the core point is they knew it was there They knew it was going to happen It was they were warned about it and they chose to just continue to optimize profits And again in capitalism that's understandable but it really does cry out for regulation the same way that when the food industry was unsafe in 1906 we created the food Drug Administration when chemicals were unsafe in the 50s we created the environmental laws This came to our attention in part because of The Wall Street Journal reporting based on the documents that miss Hogan and it had to do with children and with the Facebook new or believed about the possible risks to children What do we know about that And what does Facebook know So Facebook has known this since the day it brought Instagram The goal of Instagram from the beginning was to make young girls look better than they really are And through that process to by making the look better the effectively create a whole culture of envy And that is the business model And there's nothing you can do to change that It's been there from the David and scream was created and it is a threat to the psychological well-being of an entire generation of young women and the key thing to understand is this is not a business model that exists only at Facebook It exists in various forms at Google that Amazon and Microsoft and it's now being adopted throughout the economy How much of this is because of the algorithms and the way they're designed Well a 100% of it is The way to think about this is that this is we're dealing with a business model based on attention and the best way to get people's attention is either the scare the more outrage So roger it really raises in my mind the question is is this a bug or a fix I mean could they fix this without really substantially undermining their business model No No no you can't You can still have Facebook and Instagram But you can't have them at their current profit levels because profit maximization is what essentially leads to all the harms What can be done by Congress or by creation of an agency you mentioned before perhaps an agency I think we already have enough information to design And we need three classes of things We need to think about safety and there I think something that looks like the FDA that simply looks at every technology product On a regular basis not just once but continuously to make sure that they are safe And it effectively creates a way for consumers to go to the government and say I'm sorry this is not working out for me here are the reasons why.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"Haugen a former product manager in the civic integrity unit testified this week before Congress about some of the dangers that Facebook poses Facebook knows that it's amplification algorithms things like engagement based ranking on Instagram can lead children from very innocuous topics like healthy recipes I think all of us could eat a little more healthy All the way from just something innocent like healthy recipes to anorexia promoting content over a very short period of time For his takeaways from the testimony I talked to early Facebook investor roger mcnamee cofounder of elevation partners and author of zucked waking up to the Facebook catastrophe Roger told me that Francis haugen had an extraordinary amount of access in her role at Facebook She was absolutely at the center civic integrity was responsible for addressing harms to users So she was in exactly the right place She's just utterly convincing in everything she does I thought her testimony was exceptional I can not tell you how much for relief it is to me that she has come forward because we have known about these issues but what her work has done in bringing out tens of thousands of pages of documents is to eliminate Facebook's argument that they didn't know It is incredibly clear from these documents that Facebook crafted a business model based on attention It was designed to maximize profits at any cost which is an understandable thing in capitalism So it's completely understandable that it would work that way But at the same time in this case the harm that was done to public health to democracy to teenage girls has been incalculable and the core point is they knew it was there In various forms at Google at Amazon at Microsoft and it's now being adopted throughout the economy How much of this is because of the algorithms and the way they're designed A 100% of it is The way to think about this is that this is we're dealing with a business model based on attention and the best way to get people's attention is either the scare the more outrage So roger it really raises in my mind the question is is this a bug or a fix I mean could they fix this without really substantially undermining their business model No No no You can't You can still have Facebook and Instagram But you can't have them at their current profit levels because profit maximization is what essentially leads to all the harms What can be done by Congress or by creation of an agency you mentioned before perhaps an agency I think we already have enough information to design We need three classes of things We need to think about safety and there I think something that looks like the FDA that simply looks at every technology product On a regular basis not just once but continuously to make sure that they are safe And it effectively creates a way for consumers to go to the government and say I'm sorry this is not working out for me here are.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"President Donald Trump is taking aim at President Biden's agenda calling it the Democrats socialists Bill speaking at the Iowa state fair Trump says Biden's infrastructure Bill is a naked power grab The president's son is facing backlash after a New York City art gallery received more than a half a $1 million in taxpayer funded COVID relief aid the New York Post reports public records show Soho to George bare just as gallery that represents Hunter Biden received a $150,000 disaster assistance loan from the small business administration last year then in July the administration approved another $350,000 loan A watchdog group found that of the more than 100 galleries in New York City the bear just gallery received by far the largest SBA windfall Arizona is reporting record numbers of west Nile virus cases this year currently Maricopa County has 361 cases of the virus in humans surpassing the previous record of 355 set in 2004 I'm Chris garageio And I'm to these Pellegrini in the Bloomberg newsroom a sweep in reporting Austria's Chancellor is stepping down That's as the 35 year old Sebastian kurz struggles with corruption charges He's been a rising star of European conservatives He's suspected of funneling federal funds to a newspaper publisher to help his political rise A U.S. investigation into the collapse of Bill Huang's Archie goes capital management is now looking at possible market manipulation and we get more on that from Bloomberg's Charlie pellet Sources tell Bloomberg the SEC is scrutinizing the firm's trading activity including whether it concealed the size of its bats on public companies Those sources say authorities are reviewing whether archer goes bought multiple stakes in the same companies across several banks in an effort to avoid triggering public disclosure rules The opening of an SEC probe is typically a preliminary step and does not mean whang who has not been accused of wrongdoing will face and enforcement action Charlie Bloomberg radio Thank you Charlie Elon Musk says Tesla's electric car plant near Berlin We'll start making model wise as soon as next month He commented from the factory site as thousands gathered for a Tesla hosted October pest there And funnel preparations are underway for impossible foods to roll out new nuggets at restaurants on Monday We get more on that from Bloomberg's Larry kasky Burger King is adding an 8 piece order to the menu in restaurants in Boston Miami and Des Moines engadget says for now this will be a limited time item and come with a choice of dipping sauce that could indicate the companies or experimenting for a wider rollout The nuggets are made of soy protein and sunflower oil and impossible says they have far less fat and sodium than animal base chicken nuggets Thank you Larry And global news 24 hours day honored on Bloomberg quick take part by more than 2700 journalists and analysts in more than a 120 countries I'm Denise Pellegrini And this is Bloomberg You're listening to balance and power with David Weston on Bloomberg radio Facebook was a blower Francis Hogan a former product manager in the civic integrity unit testified this week before Congress about some of the dangers that Facebook poses Facebook knows that it's amplification algorithms things like engagement based ranking on Instagram can lead children from very innocuous topics like healthy recipes I think all of us can eat a little more healthy All the way from just something innocent like healthy recipes to anorexia promoting content over a very short period of time For his takeaways from the testimony I talked to early Facebook investor roger mcnamee Cofounder of elevation partners and author of zucked waking up to the Facebook catastrophe Roger told me that Francis haugen had an extraordinary amount of access in her role at Facebook She was absolutely at the center civic integrity was responsible for addressing harms to users So she was in exactly the right place She's just Was to make young girls look better than they really are And through that process to by making the look better the effectively create a whole culture of envy And that is the business model And there's nothing you can do to change that It's been there from the David and scream was created and it is a threat to the psychological well-being of an entire generation of young women and the key thing to understand is this is not a business model that exists only at Facebook It exists in various forms at Google at Amazon at Microsoft And it's now being adopted throughout the economy How much of this is because of the algorithms and the way they're designed A 100% of it is The way to think about this is that this is we're dealing with a business model based on attention and the best way to get people's attention is either the scare the more outrage So roger it really raises in my mind the question is this a bug or a fix I mean could they fix this without really substantially undermining their business model No No no You can't You can still have Facebook and Instagram But you can't have them at their current profit levels because profit maximization is what essentially leads to all the harms What can be done by Congress or by creation of an agency you mentioned before perhaps an agency I think we already have enough information to design We need three classes of things We need to think about safety and there I think something that looks like the FDA that simply looks at every technology product On a regular basis not just once but continuously to make sure that they are safe And it effectively creates a way for consumers to go to the government and say I'm sorry this is not working out for me here are.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"A blower Francis haugen a former product manager in the civic integrity unit testified this week before Congress about some of the dangers that Facebook poses Facebook knows that it's amplification algorithms things like engagement based ranking on Instagram can lead children from very innocuous topics like healthy recipes I think all of us can eat a little more healthy All the way from just something innocent like healthy recipes to anorexia promoting content over a very short period of time For his takeaways from the testimony I talked to early Facebook investor roger mcnamee Cofounder of elevation partners and author of zucked waking up to the Facebook catastrophe Roger told me that Francis haugen had an extraordinary amount of access in her role at Facebook She was absolutely at the center civic integrity was responsible for addressing harms to users So she was in exactly the right place She's just utterly convincing in everything she does I thought her testimony was exceptional I can not tell you how much of a relief it is to me that she has come forward because we have known about these issues but what her work has done in bringing out tens of thousands of pages of documents is to eliminate Facebook's argument that they didn't know It is incredibly clear from these documents that Facebook crafted a business model based on attention It was designed to maximize profits at any cost which is an understandable thing in capitalism So it's completely understandable that it would work that way But at the same time in this case the harm that was done to public health to democracy to teenage girls has been incalculable and the core point is they knew it was there They knew it was going to happen It was they were warned about it and they chose to just continue to optimize profits And again in capitalism that's understandable but it really does cry out for regulation the same way that when the food industry was unsafe in 1906 we created the food Drug Administration when chemicals were unsafe in the 50s we created the environmental laws This came to our attention in part because of The Wall Street Journal reporting based on the documents that miss hug and had you with children and what the Facebook knew or believed about the possible risks to children What do we know about that And what does Facebook know So Facebook has known this since the day it bought Instagram The goal of Instagram from the beginning was to make young girls look better than they really are And through that process to by making the look better the effectively create a whole culture of envy And that is the business model And there's nothing you can do to change that It's been there from the David and scream was created and it is a threat to the psychological well-being of an entire generation of young women and the key thing to understand is this is not a business model that exists only at Facebook It exists in various forms at Google at Amazon at Microsoft And it's now being adopted throughout the economy How much of this is because of the algorithms and the way they're designed A 100% of it is The way to think about this is that this is we're dealing with a business model based on attention and the best way to get people's attention is either the scare the more outrage So roger it really raises in my mind the question is is this a bugger effect I mean could they fix this without really substantially undermining their business model No No no you can't You can still have Facebook and Instagram But you can't have them at their current profit levels because profit maximization is what essentially leads to all the harms What can be done by Congress or by creation of an agency you mentioned before perhaps an agency I think we already have enough information to design We need three classes of things We need to think about safety and there I think something that looks like the FDA that simply looks at every technology product On a regular basis not just once but continuously to make sure that they are safe And it effectively creates a way for consumers to go to the government and say I'm sorry this is not working out for me here are.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"Banning crypto Many of these tokens do meet the tests of being an investment contract or a note or some other form of security that we bring them within the investor protection remit of the SEC Jensen told a House hearing his focus is to ensure the crypto industry follows investor and consumer protection rules along with anti money laundering and tax laws Facebook is also a focus on Capitol Hill Nathan Facebook whistleblower and former employer Francis haugen is issuing a scathing testimony about alleged bad behavior at the company at Baxter as details from our Bloomberg 9 60 newsroom in San Francisco Francis Hogan says Facebook works tirelessly to make Congress feel that risks posed by its platforms are too difficult to fix The company intentionally hides vital information from the public from the U.S. government and from governments around the world And that somebody needs to have some control of information other than Mark Zuckerberg There are no similarly powerful companies that are as unilaterally controlled How again says she fears for the younger generation Facebook vice president in charge of content Monica bicker says regulation is fine but under the standards that companies need to hit in this industry how do they report on that Zuckerberg has issued a short statement saying her allegations are not true in that the company does not prioritize profit over safety In San Francisco I'm at Baxter Bloomberg daybreak All right thanks Elsewhere in Washington Senate majority leader Chuck Schumer is forcing another vote today to suspend the debt ceiling Republicans are united against the move At the same time President Biden is trying to keep his economic agenda live He visited the battleground state of Michigan yesterday saying that politicians who oppose his spending plans are complicit in America's decline These bills are about competitiveness.
Bloomberg Radio New York
"francis haugen" Discussed on Bloomberg Radio New York
"For a mandate to exist In the interests of public safety So I don't think individual safety is a priority I believe the safety and well-being of everybody is what's at stake right now New York City's school district is one of the first in the nation to require all school employees to be inoculated against the coronavirus In Southern California federal and state wildlife officials are working to assess the damage caused by an offshore oil pipeline leak that dumped about a 130,000 gallons of crude oil into the ocean just 5 miles off the coast of Huntington Beach over the weekend Mayor Kim Carr says that birds and fish have already washed up dead on their shores from the spill A Facebook whistleblower is alleging that the company is lying to investors and the public about its attempts to curb misinformation Francis haugen told CBS's 60 minutes that Facebook prioritizes hateful content in people's news feeds because it's more engaging and keeps people on the platform longer Facebook has realized that if they change the algorithm to be safer people will spend less time on the site they'll click on less ads They'll make less money In a statement to CBS Facebook said in part to suggest we encourage bad content and do nothing is just not true 60 minutes runs on our sister station Sunday nights on Bloomberg 99 one in D.C. Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts more than a 120 countries How Michael Barr this is Bloomberg naked Okay.