35 Burst results for "Jeff. bezos"

Sen. Bernie Sanders calls for tax on billionaires' gains during the pandemic

Squawk Pod

02:38 min | 3 d ago

Sen. Bernie Sanders calls for tax on billionaires' gains during the pandemic

"A major milestone for the Nasdaq on Thursday the index briefly crossed eleven thousand for the first time ever the Nasdaq them closed out the day a hair below that eleven km milestone, a record high that's the indexes six record close in. So. Far, the Nasdaq is clocked a record close thirty one times in twenty twenty. It's remarkable run for the and exit especially considering what a hit like the rest of the stock packet back in. March. Clearly, the Nasdaq is come back with ferocity it's gained about twenty three percents alone the S. and P. Five hundred and the Dow Jones indices have each clocked day winning streak and the S&P is now near percentage points away from his own twenty twenty. Of course, record highs in the marketplace seem at odds with the troubles were seeing a real economy small and medium businesses are shuttered big retailers bankrupt individuals and entrepreneurs are anxiously awaiting more government relief according to some as you'll hear, the disconnect is in part due to the Federal Reserve's unprecedented actions throughout the pandemic. And investor competent that the Fed will continue to support the markets. One former presidential candidate is calling for billionaires to step up to the real economy. Here's duckie quick Senator Bernie Sanders he is now. Calling for a crackdown on billionaires, this is what he tweeted last night. I will be introducing legislation tomorrow meaning today to tax the obscene wealth gains billionaires have made during the public health crisis. The senator tweeted a thread explaining his proposal saying while over thirty million. Americans. Have seen their six hundred dollars a week and unemployment benefits. Expire emergency actions taken by the Federal Reserve to prop up the stock market have meant that four hundred, sixty, seven billionaires saw their wealth go up by over seven hundred and thirty billion dollars since the pandemic began while Amazon is denying paid sick leave hazard pay personal protective equipment to four, hundred, fifty, thousand of its Workers Jeff Bezos has increased his wealth by over seventy billion dollars. Amazon shares are up more than seventy percent year to date. You can see this morning down by about twelve dollars. Senator Sanders also calls out Walmart's Walton family. Tesla's Elon Musk and facebook's mark Zuckerberg for making billions of dollars during the pandemic, and then trying to juxtapose that with what they've done for some of the workers along the way he then said by taxing sixty percent of the wealth gains made by just four, hundred, sixty, seven billionaires. During this pandemic, we could guarantee has a right for an entire year and billionaires would still be able to pocket over three hundred, ten billion dollars gains during the worst downturn since the Great Depression.

Senator Bernie Sanders Federal Reserve Amazon Senator Mark Zuckerberg Elon Musk Walmart Jeff Bezos Tesla Facebook Walton Family
Amazon CEO Jeff Bezos sells around $3 billion in Amazon stock

WTOP 24 Hour News

00:18 sec | 3 d ago

Amazon CEO Jeff Bezos sells around $3 billion in Amazon stock

"Amazon CEO Jeff Bezos has sold shares in the company for the first time since the pandemic made him the wealthiest person alive. He sold a 1,000,000 shares on Monday and Tuesday when they were worth just over $3 billion. Amazon stock has been trading high as more people flock to the commerce platform during the pandemic

Jeff Bezos Amazon CEO
Grilled by Lawmakers, Big Tech Turns Up the Gaslight

Texas Financial Advisory Show

02:09 min | Last week

Grilled by Lawmakers, Big Tech Turns Up the Gaslight

"Everything all week just to give you the top five stories, and this week we're going to kick it off with the four major tech CEOs appearing before Congress. And as I looked at it, and as I watched the bits and pieces of it, it started to remind me of something, and I thought, What was that? What is that? I looked up in Webster's dictionary online, the definition of gas lighting. You know what that means? Gas lighting. It's a form of psychological manipulation. Distorting the truth. To confuse aren't still doubt is the official definition until the other person questions reality. Because there they were Amazon's Jeff because those apples Tim Cook, Facebook's Mark Zuckerberg and Google soon DARPA Che telling Congress why they shouldn't be broken up where they should be regulated. So America's CEO censors who for years have spied on all of us in a cellar data, and you tell this to be true, But Jeff Bezos actually said the on ly things People trust more than amazon dot com. Is their personal position and the U. S military, really. He's got AA lot of high hopes and not very humble opinion of himself, which I said that users clearly don't want to be tracked by those little bits of code called cookies, but Wait a minute. Didn't last year he have a speech where he defended them. Yes, he did. As a matter of fact, As for Tim Cook, he only got 30 questions compared to 60. The other Fab forgot. I guess they all like their iPhones there on the hill. And then there's Mark Zuckerberg, who argue that Facebook is not a monopoly, even though members of Congress Reference 2012 when Facebook bread they comprise 95% of all social media. And that's also right around the time that they purchased Instagram, which Zuckerberg considered a threat. He also did not remember paying teens to spy on them through Facebook research that app Which wasn't even two years ago. Maybe Mark needs little protection, don't you think? Well, the problem with these hearings is that the tech leaders or tech prose, and the folks at the hearing's not so much. One guy actually asked a question Mark Zuckerberg because he thought that Facebook on Twitter Goessling at its best, folks. Alright, Number

Facebook Mark Zuckerberg Jeff Bezos Congress Tim Cook Jeff Amazon Webster Instagram America Official CEO Google Twitter U. S Darpa
Florida Teenager Is Charged as ‘Mastermind’ of Twitter Hack

Bloomberg Businessweek

00:25 sec | Last week

Florida Teenager Is Charged as ‘Mastermind’ of Twitter Hack

"Old Graham Ivan Clark faced 30 felony charges for hacking those Twitter accounts of users, including Barack Obama, Jeff Bezos and Elon Musk. State authorities charged Clark as an adult under Florida law, rather than federal because Florida law allows greater flexibility to charge a minor as an adult in a financial fraud case. Two other men in 19 and a 22 year old were also charged. It is onto the training month of August. And so what

Graham Ivan Clark Elon Musk Barack Obama Jeff Bezos Florida Twitter Fraud
Tampa Teen Arrested In Relation To July ‘Bit-Con’ Twitter Hack

WTOP 24 Hour News

00:44 sec | Last week

Tampa Teen Arrested In Relation To July ‘Bit-Con’ Twitter Hack

"A a teenager teenager charged charged with with that that huge huge Twitter Twitter hack hack that that disrupted disrupted the the accounts accounts of of high high profile profile users, users, including including Bill Bill Gates. Gates. CBS CBS is is Dana Dana Jacobson, Jacobson, a a Florida Florida teenager teenager accused accused of being the alleged mastermind behind the Twitter hack of high profile accounts is expected to make his first court appearance today. 17 year old Graham Ivan Clark of Tampa was charged in the case He'll be prosecuted as an adult. A British man and a Florida man are also facing charges. Authorities say the hackers sent tweets from prominent accounts including Amazon's Jeff Bezos and Microsoft's Bill Gates last month. Offering a return on money sent to an anonymous Bitcoin address. Investigators say the team received more than 400 transfers worth $100,000 in just one day. Congress remains

Bill Bill Gates Twitter Dana Dana Jacobson Florida Graham Ivan Clark CBS Jeff Bezos Amazon Congress Tampa Microsoft
House Antitrust Subcommittee Takes Testimony From Big Tech CEOs

Talking Tech

03:34 min | Last week

House Antitrust Subcommittee Takes Testimony From Big Tech CEOs

"As low as four dollars. Ninety nine cents a month stay tuned after the show to learn about their special offer just for talking tech listeners. So when you're asked to meet with elected officials via teleconference in Washington. DC along with your key competitors and you don't get too many questions. It's a given that you had a really really good week. And when you followed up the next day with a stunning earnings release that had one analysts say that his jaw dropped when he read the numbers while there's no question that apple CEO Tim, Cook clearly had the best week in Tech. His compatriots among the big tech CEOS like facebook's mark. Zuckerberg Google's Sundar Pichai, and Amazon's Jeff Bezos did not fare as well in DC. Now, in case you missed it. Let's breakdown for you what happened this week and begin by setting the scene facebook Google apple and Amazon CEOS recall to Capitol Hill for the first time in unison to defend themselves. Against antitrust charges and they followed it up the next day with earnings reports all on the same day or a mind boggling two hundred billion dollars combined worth of revenues in just one quarter. That's a little less than half of what America's largest company Walmart brought in for all of two thousand nineteen for the record that was five, hundred, twenty, four, billion. Now during a pandemic, when many people are forced to work or learn from home consumers responded by buying lots of new computers, ipads, and iphones from apple and a whole lot of everything from Amazon at a time when many retail stores were closed in this testimony to Congress bezos described it as like Christmas in March for the company which struggle to keep up with demand meanwhile. Google. Reported a two percent drop in revenues incidents. Advertising business was impacted too fragile economy. While facebook, which is also primarily in advertising business reported higher revenues but. With a lower increase than usual, which brings us back to cook. When you're asked to appear before Congress and defend your company, you're a loser when you walk into that environment says Jean Monster in investor analyst with Luke ventures a good day he adds is escaping from major blows like Tim Cook did cook was asked about how apple treats APP developers in place favorites at its APP store where the company clearly controls what consumers can see with ironclad enforcement. Apple gets to decide who can participate and can band people at will as it did recently with the alternative email service hey, which was initially rejected by apple cooks defense. It's all in keeping up with the quality of the store in that putting APPs in front of iphone users that invade their privacy and the like. But in the realm of antitrust government decreed that apple ditch the APP store, it's a tiny portion of its business worth less than five. And wouldn't impact apple says monster. What could happen to the other companies if they had to divest will you can see facebook ditching instagram and WHATSAPP apple ditching aws, which is its web services it was basically the backbone of many companies. It provides Internet services for many companies like Netflix men for Google maybe say goodbye YouTube. Google calendar. Google maps who knows meanwhile the chairman of the antitrust subcommittee said

Apple Google Facebook Tim Cook Amazon Jeff Bezos Congress DC Washington Sundar Pichai Walmart Jean Monster America Zuckerberg Netflix
3 charged in massive Twitter hack, Bitcoin scam

AP News Radio

00:56 sec | Last week

3 charged in massive Twitter hack, Bitcoin scam

"Three people have been arrested in a hacked into Buhari's one of the world's top tech companies Florida man check tech moguls check celebrities check bitcoin and a seventeen year old hacker check a British man and the man in Orlando Florida face federal charges while seventeen year old Tampa resident Graeme Clark will be tried in state court on charges from the July fifteenth pack investigators say Twitter workers were trek through their phones into leading in the hackers the hackers then sent out a bogus tweets from the accounts of Barack Obama Joe Biden Mike Bloomberg and tech billionaires Jeff Bezos Bill Gates and Ilan mosque celebrities Kanye west and his wife Kim Kardashian west offering their followers two thousand dollars for every one thousand sent to an anonymous bitcoin account collecting more than one hundred thousand dollars in the scam I'm timid wire

Buhari Graeme Clark Joe Biden Mike Bloomberg Bill Gates Kanye West Florida Orlando Florida Tampa Barack Obama Jeff Bezos Ilan Mosque Kim Kardashian
3 charged in massive Twitter hack, Bitcoin scam

AP News Radio

00:56 sec | Last week

3 charged in massive Twitter hack, Bitcoin scam

"Three people have been arrested in a hacked into Buhari's one of the world's top tech companies Florida man check tech moguls check celebrities check bitcoin and a seventeen year old hacker check a British man and the man in Orlando Florida face federal charges while seventeen year old Tampa resident Graeme Clark will be tried in state court on charges from the July fifteenth pack investigators say Twitter workers were trek through their phones into leading in the hackers the hackers then sent out a bogus tweets from the accounts of Barack Obama Joe Biden Mike Bloomberg and tech billionaires Jeff Bezos Bill Gates and Ilan mosque celebrities Kanye west and his wife Kim Kardashian west offering their followers two thousand dollars for every one thousand sent to an anonymous bitcoin account collecting more than one hundred thousand dollars in the scam I'm timid wire

Buhari Graeme Clark Joe Biden Mike Bloomberg Bill Gates Kanye West Florida Orlando Florida Tampa Barack Obama Jeff Bezos Ilan Mosque Kim Kardashian
Big tech CEOs testify before Congress

The Vergecast

48:04 min | Last week

Big tech CEOs testify before Congress

"So, this hearing just going to say it, it was six hours of chaos. So. So many things like individual moments of pure chaos happened this hearing. But because every member of Congress was only given five minutes to ask the questions in and they moved on, no one could process the moments of cash. So here are some things that happened during this hearing. Jeff. bezos just started eating nuts on his call. That was just a thing that you started snacking for the first ninety minutes. It appears that basis had tech issues was operating in some kind of delay. So we didn't hear from him. They just answer any questions and they'd take a ten minute break Jeff. bezos could fix his computer. Amazing. Jim Jordan, who McKenna pointed out. On the show last week is always sort of chaos element. Try to talk over several members of Congress got yelled to put his mass back on floated. Just elaborate conspiracy theories. was when I say was chaos I. Don't know if there's any other way to describe it. I. Think that led a lot of people to think the hearing itself didn't accomplish its goals, but I think in many ways it did. But Kennedy you WanNa Kinda go through what the committee was trying to accomplish the themes they were pointed at in. How hearing played out, right. So okay. First off. Harkening back to last week I mentioned Jim. Jordan's mountain dew obsession. Definitely drink a handful those throughout the hearing I took notes in screen shots. So, I, called it. But regardless of their pores soda choices, there were a lot of lawmakers who definitely did their homework and I think that was really apparent throughout the entire hearing and when I look at. The picture that they tried to paint I think that became really clear in chairman Sicily's opening statements. So this is the guy who liked. And spearheaded the entire investigation from the beginning, and in those opening statements, he pointed out that yeah Apple Amazon Google facebook. There are different in a lot of ways and they exhibit anticompetitive behaviors potentially allegedly and a lot of different ways. But what they tried to pull together and was a story, and it's really hard to tell a story and five minute fragments. But what happened yesterday was Sicily. Ni, and a lot of the Democrats on the Committee wanted to point out that these companies they become bottlenecks for distribution whether that's information or just like APP stores marketplace's they control what gets distributed in how what was really key to the investigation was how? How they survey competitors. If you have so much control dominance over a market or a specific part of the tech industry, you have a lot of insight into your competitors and you can do a lot of dangerous things with that, and then lastly, after that dominance has gained, it's how they abuse it. Right? How they abuse it to make harder for small businesses in competitors and I think that's exactly what Cellini pointed out in the beginning and I think they did a poor job that storytelling throughout the process. But I think that's also our job. Right is to pull that evidence together and tell that story for them in a way that isn't like. Yes, no yelling at CEOS and like stopping them and I think by getting that in the evidentiary record doing all this questioning, I think they really did achieve their goal in the end. Yeah. I mean, I think the thing that happened sort of next to the hearing was that they released a bunch of documents from these one point, three, million documents of clutch. Over the past year, they released pretty targeted selection documents for every company showing some of this stuff, Casey, I wrote a story about. facebook. INSTAGRAM. My I'm going to frame this email or mark Zuckerberg. Literally one sentence, no period. The Andrew says I need to figure out. I'M GONNA buy instagram like I would love to just be in a place were sending that email like super casually like I got this thing to figure out and it's not like am I gonNa buy the model of the car. It's like instagram. I've been thinking of the text messages where so and so says that Mark Zuckerberg's didn't go destroy mode on instagram ever since they got that up. Case she this to Kevin and right that text was. Yes. Well, it was Kevin. System was talking to an investor and Kevin said to the investor. If we don't sell well, mark, go into destroy mode on us and the investor side probably. Of course, stray casual. So there's just a lot of documents and I think one of the functions of hearing was to get those documents into the official congressional record to make the CEO's account for them. That did not seem very successful to me. Is like a takeaway people should have from this hearing, right? No. I think a lot of people that go into these hearings are expecting like these big Gotcha moments and expecting like a lot of news and all this stuff. But it really, it wasn't oversight hearing. You know it wasn't. They didn't come. They came at this like in a report last earlier this week that they came out at as investigators. They didn't come at it to make a big show horse and pony show out of it, and yet I think the CEO's didn't. The record well enough to the extent that they could have. But there was definitely, I was expecting them to do a lot less evasion and I expected a lot less room probation with the documents, but it's just the process of a Congressional hearing. It's. It's hard to do that in a congressional hearing. But if you put those documents out there, you get the CEO's on the record a little bit who does excite this excites the FTC. J, and that's who can take this next and then it's also congress. You know they can't break up a tech company, but they can regulate going forward and it's those three key themes that I pointed out earlier that they could regulate. You know what I mean. They could legislate to forbid companies from surveying competitors and things like that, and that's where this goes. So the format of the hearing, every member and five minute chunks, it seemed very clear that the Democrats had some sort of coordinated evidentiary strategy, they would start and. And they would say, I, want to read this email to you. What did you mean by this email and then Jeff bezos would say something like I have. No idea is on works. I. Was real pattern that developed was basis really not doing or claiming he definitely knows claiming not really no way Wayne is under the thing they did or they would ask sooner Pichai about the very granular add deal google made by an ad product, and soon I, would say I'll get back to you, which is basically all responses. So the Democrats seemed like they were coordinated to move through their documents. The Republicans seem to be doing something else that also seem coordinated intentional, but what was their focus because that seemed clear split my takeaway from Jim Jordan who? We got into earlier, he he was interviewing. As if they were all Jack Dorsey. And as we talked about like, yeah, he invited Jack Dorsey to testify, but he doesn't sit on the antidote subcommittees. Anything. He says, it just doesn't matter. So it sounded to me as if he prepared questions Jack Dorsey and then it was like, oh, he's not coming I'll ask Tim Cook the same questions. Another completely crazy moment that happened just seen by and five minute chunks is that. Represented Sensenbrenner from Wisconsin Dear Sweet Wisconsin. Definitely. Asked Mark Zuckerberg why the Donald Junior was banned from twitter and mark. Zuckerberg was happening on twitter facebook and there was just like a moment of confused silence, and then he tried to move on and that just sort of floated by in the river of chaos to tell you how much chaos there was kneeling. When you started to tell that story, I thought you were going to tell the story about when Jim Jordan asked him cook if the famous one, thousand, nine, hundred, four, Apple Super Bowl, AD was actually about twenty twenty cancel culture, which is another thing that really happened. I think that's out of context. He didn't ask him. He said clearly, this is. That's definitely what Steve Jobs was thinking IBM is canceled culture and Apple's going to break it with hammer and Jeff. Bezos said that social media is a nuance destruction machine and all this crazy stuff from that. It was a wild will that that particular question when Jim Jordan asked, do you support the cancel culture mov, you could see the CEOS like. 'cause they went in order. He asks them all in order. So First Tim Cook just like basically muttered nothing. Here's like I don't. I support speech whatever. The iphone a keyboard like that was his answer. Sooner per child also, just like muttered, right? He's like Google has always supported free expression Zuckerberg like saw the opportunity and took it and the forces of liberalism I rising I, and then basis was like I cannot. I cannot do in like went for it, and that was just totally insane moment. But it also seems like the Republicans were intentional to try to create their own moments where they were yelling at CEOS about bias on platforms is obviously something cover a. At. You were paying a lot of attention that case you're paying a lot of attention to it. Do you think that was effective in creating because you know there's like a parallel conservative Universe Jim? Jordan was on Tucker. Carlson. Last night like was that effective or d think that the CEO's were able to sort of tamp down on interesting the Tucker Carlson pointed out that Google and other companies are all big donors to Jim Jordan another folks. So that is a weird side, but I think it was actually besides the moment where they mixed up twitter with facebook I. Think this was much more effective off. Off Topic yelling about technology than we usually see like are genuinely issues that like they are upset about that, they could point to largely around like cove nineteen misinformation and they could at least like pick those topics and stick to them rather than kind of asking vague questions about like, why is my phone listening to me? Well, they're definitely asked questions about why are my campaign emails getting filtered by G mail? Yes. I should. I should mention that they have really and they have all of these cases where they ask about extremely specific one off incidents that anyone who has used social media knows happens constantly. And, then turn them into a sinister pattern. But I think they managed to come off as sounding more like they understood what they were talking about the unusual. I think that was a real theme of the hearing, Casey. What did you think of this sort of bias side show that occurred? Well, I mean the the idea that conservative voices are being suppressed is foundational to the conservative movement and is behind the rise of conservative talk radio. It was behind the rise of Fox News. Now that social media exists, we have seen it in this new form, but it is sort of being presented as extra, sinister and worthy of. Some sort of legislative intervention what frustrates me about it is that much more than newspapers or or cable news like Mark Zuckerberg Dorsey. These people benefit hugely from having all possible voices on their platform. None of them is incentivized to drive conservatives off their platform. What they are incentivized to do is have rules that make the place safe and welcoming. So that people want to hang out there and so to the extent that there are issues on the platform, they've largely come because these platforms have rules. And you know you would think that a bunch of free marketeers would realize that the alternative to the system that they're so mad about would be creating a new system, but they don't seem at all interested in doing that. So I just sort of dismissed all of them as charlatans I actually thought it was interesting that the opposite track came up, which was the Stop Hey for profit campaign I kind of wasn't expecting that. The representative Raskin I believe asked facebook. Basically, why aren't you kicking more hate speech off. I forget who else asked like look is the point that you're so big. You don't care about advertiser boycotts I. Mean, you know it will here. Here is a fact that the number one complaint that facebook gets from its users, the thing that users. About. FACEBOOK is that it removes too much content and so if you're running the place, you do have to take these complaints seriously in a way. Right? It might not be you know that you shadow band conservative whatever that even means on social network in twenty twenty. But the fact that you're removing content is really upsetting people. So you can't dismiss that idea entirely, but I still don't feel like we're having that intellectually honest conversation about it. So this was definitely I feel like you can connect the you control distribution. We're GONNA show the abuses of power narrative. We got other. Democrats. With the you control distribution. You're banning conservatives right like I. Think what's Sensenbrenner Again, cups and conservatives are consumers to is that people don't realize that like fifty percent of the population in many ways. But facebook has like famous conservatives working its highest levels Kevin. We last week, we're talking about Kevin Roose keeps sharing the list. List of the most engaged content from crowd tangle. It's all conservative content, and that's so problematic for facebook that they're. They're pushing back with other metrics and graphs of their own, making the facts just aren't there, but it doesn't seem to be convincing. Brett Kevin is being asked to recuse himself from facebook case because he's like best friends with facebook I, AP I wrote a column almost two years ago. Now, arguing that conservatives were trying to redefine. Any conservative identified person having any unwanted outcome on a social network, right? So bias is your name was higher than mine in search results. Bias is used suggested that I follow a Democrat and not a Republican right, and if you take action on your policies that apply to everyone against me a conservative that is biased against conservatives, right. So and by the way I have to say this has been hugely successful because we've talked about it. How many minutes now and the longer that these discussions. Discussions. Go on. They just sort of refi people's minds. The idea that there really is a vast conspiracy to silence conservative speech because he's networks are so big millions of conservatives are having experiences like this every day, and now there is an ideology that is basically a religion for them to attach to, which is although Silicon Valley liberals are out to get. Reason I wanted to talk about the conservative side show, which in many ways was a circus is it feels like the notion that we should be punitive to the companies or mad at the company's. Bipartisan, right we were. We were not looking at a hearing where the Democrats were on the attack. Republicans are saying we love. Apple. We're looking at hearing where they were. Everyone was mad. There are a couple of exceptions to that. There were a couple of I think sensenbrenner and a few other folks were like look we want to be clear. Big is not bad. We just WANNA make sure we're not punishing you for your success, but you were like almost entirely, right? Yeah. I. Mean I. think that's it's important to. To capture that mood like Jeff Bezos Mark Zuckerberg, Tim, Cook soon. Darpa, try they usually get to finish whatever sentence they start saying. Right. They're not used to being interrupted. Their thoughts are usually like you know they get to live in complete sentences and people take them seriously here in five in intervals, they were interrupted almost every time they started speaking to be told that they were wrong that they were filibuster at one point Sicily said stop thinking is for the questions. We can just assume they're all good questions. They. Were getting yelled at and they're going yell that about a variety of things that were pretty specific. So you kind of in your kind of structure here. The first one was controlling distribution. What did you hear as a hearing went on the indicated to that? The committee had a case here? I think the apple's APP store is one thing you know charging thirty percent cuts on certain things is just controlling an APP store. It's the same thing with Amazon's marketplace. They can inherently in control what gets placed and what gets sold and you know if they want to play with search results on Amazon, they can do that, and then on facebook and Google, it's not just like products and software that's information. And it could be information when it's like Google. Google. Stealing yelps, texture views right in putting those in its little info boxes in search queries in facebook if facebook is just like an. Mation, distribution platform and. It can decide Algorithm Mickley. Knowingly. What people get to see this bution was very keen to the committee's hearing yesterday and they pointed out different aspects in which you know each company exhibited that kind of behavior. So the one that will you bring up apple? We wrote about this, say there's much emails. Apples document production is just one hundred and thirty pages of unrelated emails and whatever order see it's like scan through it. So there's a lot of little stories in there. There's one about right to repair and apple realizing it needed to repair. By watching PR people operate by reading their emails journalists. Very entertaining. They're like we had a break like here's our strategy. Here's we're GONNA. That's all in there. You can look at it, but there's a lot about the APP store itself and how they're going to use the mechanics of the APP store to control their platform, and it started at the beginning like the first emails in this production from twenty, ten there. From Phil, Schiller Steve Jobs saying, are we GONNA? Let Amazon Sell Books in the kindle store. Store, it felt like I saw an Amazon ad was hard to watch this hard to watch this ad where a person's reading a book on an iphone in the kindle APP in the pick up an android phone keep reading. He's like literally like it was hard to watch like Schiller's at home like pain what a customer is having an experience that good it really just. Heart and so he's like it was hard to watch. You fours Steve Jobs. They're like we gotta shut it down jobs is the bookstore will be the only bookstore on the APP. Store. That's the way it's going to be everyone's gotta used to it. We know that restricting payments will hurt other things, but that's what we're doing and they started there in two thousand ten and they pulled it out, and then that ladders up into everything that we've seen with, hey, ladders up into the analysis group showing up to. Apple, can pay them to say that there's independent study has revealed. Everybody has a thirty percent cut. It has landed up into Tim Cook, forwarding. He gets a letters from developers that are in this direction. It's like apples breaking my heart and he just like Ford's it. Tim, Cook forwards that email to filter credit eighty, just as thoughts like amazing like they are constantly thinking about the APP store as a mechanism of control for the platform in the leverage and other deals. So the other one was apple is this Amazon one which I have very mixed feelings on saying that this is bad or legal I'm curious for all of your thoughts famously. Did, not have the prime video APP on the Apple TV and all these other places apple, Amazon came to a deal. There's an entire presentation in this production like the slide deck of how the deal is going to work. Apple got to be the preferred seller of its own product. So third parties cancel. Apple. Products, Amazon pages, they got. They have a custom by flow. They've custom product pages, all the stuff in return. Amazon got a lower commission on the APP store and gets to Selatan products which no. No like you can rent a movie from the Amazon APP on the Apple TV, no one else gets to it in one world. This is just pure platform collision, right? Apple cut VIP deal for big companies because it wanted something and you could say this is legal in another world. It's like this is how deals work apple something valuable. Amazon s something valuable and they came to a conclusion wherever made more money and quite frankly the consumer experience platform has got better. How do you read that? Casey? That is good and fair analysis of it. I. Think I did read slightly more scandalous. Tones into it in part because apple would never acknowledge that some developers are more important to it than others even though if you assume that that's true, I think maybe one of the things that's frustrating about it is there is no transparency accountability around which developers get sweetheart deals is that once you hit a certain threshold of revenue will cut your price. Why couldn't they extend that deal to everyone right? Or is it just if we withhold something that seems particularly valuable, we can eventually drag you to the table. Table, which is sort of what seems like happened here. I think in all cases, what I'm always looking for is the accountability, right like and some sense of of equitable treatment of developers and I understand the guys are always going to get the best treatment, but it can that be publicly visible. Can it be acknowledged and there'd be routes for others to achieve that same level of success and treatment, and that I'll just seems missing here. Did you buy Tim Co? He said it twice. It was obviously A. Glimmer, of sympathy for all four CEOS. There is a lot of reporting that they had spent months preparing for this hearing like being grilled there, they'd hire outside law firms. They. Practiced they all clearly had soundbites memorized in none of them. Got To say him because it kept getting interrupted. Tim Cook had this one where he is like if we're the gatekeepers, the gates are open wider than ever. We've gone from five hundred. APPS to one point seven, he said like. A whole speech. and. The thing is there's fierce competition for developers. They don't like our store can do for android the windows. For xbox and PS. Four. Which I was like the idea that adobe is going to be like we don't want to be on the IPAD. Here's PS. Four Photoshop is insanity to me. I'm going to build a spreadsheet. APP. For the five. That's how frustrated with Tim Cook. To that ring. True to you I. Mean, there's no, it does not ring true. There is a, there is a duopoly. In the United States when it comes to smartphones, iphones have majority share in the United States and you can't say, well, you know there's there's a rogue fork of android in Malaysia that you could go develop for if you really wanted to and have that come across as a credible argument to Americans. Right it is. Natural for any monopolist to spend most of its time, arguing that it is much smaller and much less consequential as as you think it is and they're essentially always asking you to ignore what is in front of your face, which is that they are the giant. They are in control. What they say goes, and it doesn't matter which small businesses get hurt along the. The. Way I would point out that the contact and we're gonNA talk about earnings eventually. But the context for that is apple had its biggest third quarter ever this month, their revenues went up eleven percent year over year, they're making obviously making billions of dollars in their services revenue, which is a lot of the narrative around the APP stores increasing that services line. Also went up. I think it was thirteen billion. So you're right. They're very big in their earnings the day after the hearing did nothing. To reduce that impression. I want to switch to Amazon a little bit McKenna. You really focused Amazon was basis first time up there. They came at him a lot about marketplace. How did you think that went I think it went pretty good. I. Think. John Paul specifically was just like killer her questions with breakout star. Yeah. She was just like killer and she's the representative for. SEATTLE. So this is where Amazon is right. So she just like killed it and. And I think there were a couple of instances in the documents and in questioning yesterday that really pulled important things out there was like testimony from one bookseller who was like, yeah. We just can't sell a category of books and we don't know why Amazon doesn't let us do that just like testimony like that or even when it comes to like acquisitions, the ring acquisition especially, I wrote about that today through the documents and how. They said, this is for market position. This is a for technology, your talent or anything. We just bought this and that's something that base said again, yesterday he was just very clear. It's like, yeah, we do buy things market position, which is like so insane just here like the richest person in the world. But like, yeah, we're buying market position. It's just what happens. That's another one I have mixed feelings right, and by the way, people should read McKenna story because those documents have just a very funny breakdown like the pros and cons of buying. Buying ring in many of the cons like what if this turns into nest, which if you're just the verge cast listeners like it's just like the Keyword Bingo, but it's fine to say, we're buying market position like this isn't the best product out there, but it's the category of video. doorbells is not huge, right? So to by the the market leader in video doorbells is maybe the most rational use of the money. What is the problem that you think the committee was trying to show an address sense of we're just going to market position. Pointing out, they can just do whatever they want and how casual it is, and there really isn't. It's really funny to read an email like that, and we could buy it or we could just copy it or are. We could just watch. You know that was one of the emails that base from someone. Those are just three options you know and it's like just pick and choose you know. Pointed out like a lot. Just that email itself really pointed out just how easy it is for them. They used a lot of that time history to talk about copycat behaviors and to talk about just like you know buying up competitors and it just seeing that all in one little e mail having to do with the ring was like really i. think it was really kind of I opening and especially like useful for the committee. So Amazon got hit a lot for the data collection side of it of copying competitors. bezos did not seem to have great answers there. Right. So that's the. The thing they got in trouble with this. There is that Wall Street. Journal article from like April where employees were literally like, yeah. We dip into data and we use that to guide our own private label products and everybody was like Whoa and Amazon basins. Yesterday said, well, we do have a policy that bans that but giant pointed out yesterday. It's like, okay. So what's your enforcement look like you can have the policy, but like if you don't enforce it, then it's like meaningless. And then yesterday I. Think Paul was like, can you give me a yes or no answer? Do you dip into data and he's like I can't I can't give you. Yes or no, and we're just like we're looking into it. The story had anonymous sources. So that isn't very helpful to us. You know what I mean. So that was one of the main things and that Wall Street Journal article and I think it's the same kind of examples in the committee's documents. They point out specific examples like car trunk, organizers of all things. It's like weird little products like Amazon's like this is a little hot. Maybe we should do that. So I, I think. I, think they made a good case yesterday. Yesterday on that. Yeah. I mean bezos brought up that Wall Street Journal, Article himself twice, and he was like, well, your policy against it. But I can't guarantee never happened. Then there is a strange just didn't come across clear I. Think I know what the committee was trying to get at their like US aggregate seller data when there's only three sellers and then only to sellers? Yes, I. Think what they're getting at is when you're down to the aggregate data of two companies, you heard effectively looking at individual data. What is the problem? They're like the I get what you're doing. You're just reducing the denominator to get to one, but like it, why is that particular problem? Right? Well, none of these. Dipping into individual seller data and looking at aggregate data. That's not a legal. There is no law. This is all voluntary of Amazon. So they have a voluntary policy where like we can't do individual seller data, but they say nothing against aggregate and aggregate what you're getting at eight. Here you is. Does the same thing if it's just like some goofy little product they. They bring up pop stock. It's all the time before pop tops in a moment. Right? There's only like one pop. So company like you know pop soggy, it was kind of an innovative product. It's like well, if there's only two of them and use the aggregate data, you you you have everything you need to know you know about that product line looking aggregate. If that's what you decide to qualify as do you as you're looking through the other Amazon documents and other stuff. So anything jump out at you is something the committee was trying to prove or get at. The questioning seemed very focused on. Like are you using the state at a copy products? Are you buying things? You shouldn't buy. There's one question which I did not understand why came up about DMC. Take downs on twitch and Jeff as just had this look of panic in his eyes. He's like I don't know man I bought Wedge because my kids want to. Do something like that was like the side show stuff, but the real focus here, it just seemed like it was definitely in the marketplace, right? Amazon, everyone came at Amazon for the marketplace. That's what everybody knows him as like they have all these little sides. They got rain. They got Alexa Alexa was one thing too. That was kind of interesting. It's like. Are you buying things like ring to put Alexa into and dislike expand your like Titan Ism as like an Internet Internet connected home. Thing and make that more closed off and walled gardening. That was one thing. But no, it was just focusing on how much power they have to kind of change. What happens in the marketplace to kind of decide what companies in what products are able to come up on the first page of results. You know that's also something that they dug into Google and in something that one of those like themes that kind of ties everything together. We should say they all spend a lot of time talking about counterfeit goods, and why is it Amazon removed? Fake stuff from the platform and how much is it profiting off of you know selling pick rolexes? Is it surprising? The whole foods didn't show up at all they're. Like that is a really massive thing. Amazon owns that. Is it moving into a huge new product category? I think whole foods is not an online marketplace, which was the title of the hearing, not that that restricted anybody from doing anything except that, one of the things Amazon says is we have lots of competition from offline marketplaces, right? Brought up kroger a lot I mean, this is the case he's point. They all made. It seem like they were beset at any moment. They could be crushed by the likes of stop and Shop Right? Like I think the point though was really on the. Digital. Experience Consumers have and like I, don't know Ho-. Foods fits. Into that narrative, especially, because it is itself not dominant like they bought it because you needed to grow in their. Good at that at my question for you on the Amazon stuff was when you think about, we talk about two thirty a lot right like you and I in particular spent a lot time to thirty, which regulates with the platform can do with content. There's not really an equivalent of two thirty for goods on store. Right like there's some case is out there saying like you're liable for what what happens on your online store page, but Amazon doesn't have that like second order of like Messi nece around it that twitter and facebook to with two thirty, I. Mean, it gets invoked a lot for marketplace's, but it's way messier. Well, I just wanted to like this question at counterfeits question about ranking the store like they are even more free than any twitter is to to sort tweets algorithm. Algorithm clear to modern like it just their store. Do you think that they're like that Algorithm transparency? Your wire things ranked. Did you catch a sense that that's where the regulation is GonNa go. So much of the conversation around Amazon really felt like it was individuals sellers being wronged for reasons of Amazon being unresponsive or stealing. It's data. So I don't know it didn't. It didn't seem like a really big focus of the hearing, but it is a huge deal. Yeah. The, digital marketplace frame of this, which is where we have talked to. Cellini. That's where he's going right like facebook and Google very digital. They have like they don't do physical goods. Really. Apple is the APP store. It's all digital goods. Amazon is the one where it's. Front to a lot of physical things, and that is the only place where I can see this regulation needing to make some sort of like major meaningful distinction in I. Didn't see it in the hearing, but I was curious of you caught a glimmer of it. I'm not positive that they have to make a huge distinction there like depending on what they come up with because. So much of this is about their companies and whatever product they produced. The issue is more or less whether or not they're being surveilled and unfairly by targeted and crushed by that data surveillance. All right. We have gone for forty minutes. We should take a quick break. I said I wasn't going to go by company and it happens. So we should come back and talk with facebook Ango. We'll be right back. This is advertiser content. When I say utopia what comes to mind. Birds Chirping lush natural beauty dialed up and vibrant technicolor. Is it within reach. Your world world. World. explained. You are an essential part of the perfect social body. Every Body Matt Place. Everybody happy now while the peacock original series, brave new world takes place in a scientific futuristic utopia. A concept is nothing new Sir Thomas more. I introduced the theory five hundred years ago. But we keep looking for that community identity stability of aldous Huxley's Utopia and not finding it Americans are the unhappiest they've been in decades, and we're increasingly lonely whereas in a utopia. Everyone belongs to everyone else. In nineteen forty-three, the psychologist Abraham. maslow's developed a theory of Utopia. One that allows total self determination in basic terms. maslow's theory says that in Utopia, we decide for ourselves, what we need and how we're GONNA get it in Huxley's Utopia citizens always get what they want and don't want what they can't get. Sounds. Pretty good. Right. Then why can't we make it happen? For a Utopian Society the work we might need to disband some of the things we hold dearest marriage government privacy individualism even family. See for yourself. If a Utopian world is as perfect as it seems watch brave new world now streaming only on peacock. These are really difficult crazy stressful times, and if you're trying to sort of cope, it could be helpful to find something that gets beyond like doom scrolling and like obsessive worried. But digs into what is really going on underneath the surface, and that's what the weeds is all about I. Matthew Yglesias. Weeds podcast here on the box meeting podcast network. This is podcast for people who really want to understand the policy debates and policy issues that shaping our world. We've seen now more than ever like how relevant policy is to our actual lives, but so much in the news isn't focused on really understanding and explaining detail way if that sounds good to you, join us for the weeds, every Tuesday and Friday to find out what's going on why matters and what we can do about it. You could download the weeds on apple spotify or wherever else you get your podcasts. Tracy. When it comes to facebook I turn to you. FACEBOOK is patience consumer of startups as what we've learned. Yeah. But you said something to me yesterday was interesting, which is everyone else's problems are forward looking and it feels like facebook's problems are actually in the past break for people explain what you mean. Yeah. So when Congress is looking at any trust with respect to these four companies for three of them, it's It's sort of about the marketplaces that their operating right now with facebook, the question is much more about should we have allowed it to buy serum? Should we have allowed it to buy WHATSAPP and most of the antitrust conversation that was around facebook yesterday was all about that. What did Mark Zuckerberg know about Instagram, and when did he know it? We wrote a story based on some documents that the house released yesterday. In which facebook has clearly identified instagram as a competitor. In at least some ways and wants to go after it and knock it off the table, and so that's kind of where the focuses their facebook and Burke did get a lot of other questions yesterday, but it tended to be much more about content moderation and things that don't have a lot to do with antitrust. So there was weird section where they asked the face. Face Research APP in the novel, Vpn? Any kind of got lost well, explain what happened and I'm curious reactions. Yeah. So facebook has a bunch of nifty tech tools to figure out what's trending which APPs or the kids using, and so that can essentially have an early warning system if it needs to consider acquiring something or more likely in these days, go out clone it. and. So Zuckerberg was asked about the way that the company uses these systems and if they are anti competitive I, think you know traditional antitrust law probably would not say copying an APP feature is anti competitive, but could lobby written in the future about it shirt I. Think the one that caught me was I mean, this is what I'm. McKenna's points from earlier is like one of the themes here is, are you so dominant that you can collect data that's unfair and then use that to crush or killer competitors, and definitely bought the Inaba VPN to do it. That's true. Now, when I've asked executives at facebook about this, what they'll say is they don't get surprised anymore. When you have three point, one billion people using your apps around the world. You know what links they're sharing, you know what they're talking about. And so you're not going to need some kind of specialized tool to know that WHATSAPP is really taking off. Right. So they would argue that, yes, these tools were useful to them, but you know at their scale, they know what's popular now, which doesn't really seem like addresses, the problem is reached. The fact that we're so big that we're all knowing is maybe not the defense that they sometimes presented as so here's what I didn't get. I thought, Zuckerberg I want to the instagram. What's about who's issues, but on the facebook research front, the data front, they him about this APP facebook research, which you were giving to teens. They were deploying with an enterprise certificate that story broke apple revoke the certificate, and all of facebook's internal APPs went dark, and this is a scandal story after story about it, they went on for two days. So I can I, don't recall that APP? Just how he you know, he remembers the day that all facebook's internal APPS went down and people couldn't go to the cafeteria. I would agree I found that answer. Extremely, ed? Persuasive. that. Do you think that was like actually strategic for him to be like, I, don't know and then come back later and correct the record I do remember when that happened I. Mean. I really don't know I mean also you know during a six hour hearing, it's also possible that you just you get flustered or you miss here something or or something because. Yeah. As as you say, I'm sure he remembers the day that apple turned off their internal APPS I mean. Honestly. Seems like an opportunity to talk about apple's market power, and the fact that you know a day of work canceled at facebook because apple got mad. But I think most of the CEO's didn't go into yesterday a wanted to pick fights with each other. It was kind of sad that they didn't. I was Kinda hoping that Tim Cook take a shot at soccer burger. Point that the other two APP platforms I was expecting it. It was there. It was. There was all there. So cellini ended and he ended the whole meeting with closing statement. He said, some of these companies didn't get broken out. They all need to get regulated in the off too much power that some of them I. don't these breaking up apple. What sort of break. Right like. The division get sent into the corner thing about what it's done. Right. Does should spin out the finder team I've always wanted to. A clean is always that they want to. They want the APP store to be separate from the IPHONE. Basically, that's the thing I always hear. Can't break I. Think you can write some strong regulations but not playing you're on store, right. But like Elizabeth Warren's point was it's cleaner if it's two companies, but it's still a gigantic remedy that I don't think there's a lot of like like consumer or public opinion is going to walk into an Apple Cup I think you'll radio at marketplace. It seems very clear that we says some of them she broken up he is talking about facebook. I have a twenty percent conference level. He might be talking with Google and Youtube as well. But if he's going to say some of the need to get broken up like it's facebook, did you hear anything yesterday that supported that conclusion or Saudi stocks I? MEAN HE I don't remember which Republican it was, but he was like the Obama FTC looked at this and they said it was minding love. Obama. Right. Like. Why would we go back in time to relook at I? Mean, there is a belief and I mean. Somebody who thinks there could be a lot of benefit in instagram and WHATSAPP being different companies from facebook. And the reason you ask. So many questions about that acquisition as you're making the case that it never should have been approved in the first place, and so now you need to remedy it. So that was actually like the entire thrust of the argument against facebook yesterday. I think, you could probably make just as good a case that Amazon after spin out aws, but lawmakers chose not to make that case. Yeah. I think that also gets into. Politics of the acquisition of the time. To his credit is like nobody knew instagram would actually be a success like we made it a success. It didn't happen by itself. I, don't know if the lawmakers. By award, these guys said, but I don't know that he actually made that case very persuasively. and. Who knows I mean? That's like anything could have happened. Right? Cram could've stayed independent and rapidly grown and overtaken facebook like that's something that could have happened. It could have kind settled into a middle zone like snapchat or twitter seems more likely to me although I think probably would have been bigger than those two but. You're never going to know I mean it is true that facebook gave Mike and Kevin it instagram enormous resources. A lot of the reasons why Mike and Kevin sold was because running tiny startup that's blowing up is absolutely exhausting Mike. Krieger. was dragging his laptop all around San. Francisco. Because the servers were melting at all times of the day whenever Justin Bieber. Posted like the site stopped working and they really we need help. Finding a person who can quickly fix this? So we don't have to like that is the reason that they were entertaining these offers and wanted to sell it. So that is also thing that happened. Do you think that that same kind of argument or approach can apply to what's up? What's up basically did not come up yesterday and all the focus on Instagram, but that's the other one, right? Yeah, and we know weirdly a lot less about that acquisition I. Think it's because people in America just have so much less love for what's APP generally. That, it's never seemed as important. What happened to WHATSAPP as what happens to instagram even though WHATSAPP, is used, you know way more, it probably has way more engagement even than instagram does so I don't know why that didn't come up as often. We know there was a competitive bidding war for that as well. Goule. Wanted it as well. You know Mark Zuckerberg made them an offer, they can't refuse. Do you think everyday Google's we should've spent more money on what's whatsapp like this could have been solved. Should have, but Google has been placed under an ancient curse that prevents them from ever making the right decision about any social product. So it was doomed never to happen. It's fun looking through the documents and watching them casually say they should buy facebook dot com. Yeah, that. Point. That is how they talk like the window into these executives just casually being like we should just this thing or maybe not, or we should just copied ourselves and kill it before it gets any traction like it's repeated over and over again last facebook question. This one is like harder to parse because I. There's a chance, it's October is just joking around but. But. He's in many of these emails. He's like the thing about startups, as you can always buy them, which I think the committee thinks is a smoking gun, right? Like facebook's entire plan is to buy the competition to get the data from wherever they get it to say, oh, man, this apps popping, we just buy it and kill it before it competes with us. I. Think he actually said at one point. That's a joke. Yes, he did and I believe that you know it was two thousand, twelve, right? He was probably still in his mid twenties. At that point, the company was a lot smaller like people were joking around like there's more loose talk when companies are younger and I do think. It was it was part of that. I think the more interesting question becomes. Let's say facebook is telling the truth about everything. Let's say they thought it was going to be a successful acquisition, but they never knew it was gonna big as it became today and they invested in it and it got super big. Okay. Well, now, it's as big as it is. Should they be allowed to keep? Keep it or should they be forced to spend it out and if you're GONNA force them to spin it out. What's the argument that you'RE GONNA. Make about why one question that I have a lot is clearly the referral they're gonNa make, and it seems like if you don't have some other reason, we've heard hints that there's some other reason, the FTC scrutinize this that will eventually be revealed. But what you're saying is the antitrust standard at the time, the Consumer Hartman stand, which is still our standard. Says, you have to prove prices will go up both products for free. You're screwed. Right? There's nothing to review because you're not gonNA prove prove that free products are gonNA get more expensive. I think it's pretty unfair if you change the standard and you go back in time and say you missed that standard. So I think there has to be something else there. Well, what was the standard by which at and T. was broken up? Right? Like presumably at and T. didn't used to be that big, and then it just got really big and then they broke it up at least. That's the thumbnail understanding I have of that break-up. Well, yeah. But then reformed itself. Right. But because of lax antitrust regulation, right? Like it wasn't a naturally occurring phenomenon that all those APPS got back to the other or was that just sort of like inattention to capitalism It's like in the seventies and eighties. This is Tim moves book the cursive bigness in the seventies and eighties Robert Bork I can't talk about Robert on this podcast. Are we doing this right now. Robert was very influential judge Appellate Judge Federal Appellate? Judge. And basically moved the antitrust law to the consumer harm standard as part of a movement called and economics. A whole thing Robert. Bork. Mostly famous because he was not appointed. He was nominated Supreme Court by Reagan but they leaked video tape rental history, and then he didn't get nominated and that is where the expression getting bork's comes from. This is all true Netflix's still has to abide by videotape data privacy act is a whole. This is all true when facebook and Netflix had some partners, Nansen? Partnership. To. Automatically share your net flicks, watch history to facebook. They're like pending the change of this law which we are working on Robert Bork. He haunts us all. I'm sorry, I can't believe this much. Yeah I. think that's just like the law changed in the in the seventies and eighties, the standard change. The conversation right now is a very much about changing it back months and months ago, pre pandemic, we had an economist from I. Think it was Nyu Thomas Philippon came on the show, and he was like look you have this natural ab test going on in the world where the European Union when it formed was like, how do we get an economy like America's? So, we'll just take their competition policies pretty good, and at the same time we changed consumer harm standard. So everything you're seeing the EU is basically our old competition antitrust standard in. You can see how active they are in everything. Here's a new consumer welfare standard. Whether you believe, this is actually a functional Ab test given. The state of both governments is up for debate, but that was his point I thought. It was spare can say.

Facebook Apple Amazon Mark Zuckerberg Google Tim Cook Instagram Jeff. Bezos Tim Co Twitter CEO Casey Brett Kevin Cellini Jeff Bezos Jim Jordan Sicily Mckenna
Tech giants Facebook, Google, Apple and Amazon to face Congress

Marketplace

00:45 sec | Last week

Tech giants Facebook, Google, Apple and Amazon to face Congress

"Is happening because there is a recognition across government that these four very powerful and very important companies to the economy had become so dominant that they are harming consumers and harming competition. So Congress has summoned the CEOs of the corporations. Jeff Bezos of Amazon, Tim Cook of Apple, Mark Zuckerberg of Facebook and soon DARPA Chai of Google to ask them and interrogate them on their business practices and find out if these Internet giants that have become in many ways. The new trusts of our economy. If they are harming consumers in competition.

Jeff Bezos Darpa Chai Tim Cook Congress Facebook Amazon Mark Zuckerberg Google
Washington vs. Big Tech: Taking on the Trillion-Dollar Club

Squawk Pod

10:01 min | Last week

Washington vs. Big Tech: Taking on the Trillion-Dollar Club

"Lawmakers came out swinging yesterday against Amazon Apple, Alphabet and facebook at an historic antitrust hearing held with CEOS, Jeff bezos, Tim Cook Sundar Pichai, and Mark Zuckerberg. Over remote Webcam, you swear or affirm under penalty of perjury that the testimony you out to give his show incorrect. The Best of your knowledge information and belief. So help you God. Yes. Let the record, show the witnesses answered informative. Thank you, and you may remain seated members of the House Judiciary Committee's antitrust subcommittee used charged language like too much power, Anti Competitive Acquisition and emperors as they aired their concerns about those four giant platforms. Here's the subcommittee chairman. Democrat, Peterson, Selene, a Rhode Island, our founders would not bow before king, nor should we bow before the emperor's of the online economy and ranking member? Wisconsin's Jensen. Brenner. Pointing out. Political concerns about size does big tech have a bias serves our consumers to? The need the protection of the antitrust laws. Both sides of the aisle had their opportunity to highlight this core conflict between Washington and Silicon Valley that antitrust enforcement can fix whatever is challenging or concerning about big tech. The CEO's for their part. Say We haven't squashed the competition. Here's Pichai Cook and Zuckerberg competition drives US team. needs to better products, Noah choices and more choices for every customers have a lot of choices in their products space fierce competition companies like Samsung, G. while way in Google has built successful businesses with different approaches. We okay with that. Our goal is the best, not the most I recognize that there are concerns about the size and power of tech companies. Now, we're services are about connection. Our business model is advertising and we face intense competition in both Amazon's ECOMMERCE dominance sparked a few intense moments after CEO Jeff bezos. The richest man in the world with a personal fortune of about one hundred and eighty billion dollars didn't get a question until nearly two hours into the hearing apparently due to a tech glitch. But then the pressure was on basis was asked about undercutting diapers, dot com before buying it Amazon's counterfeit problem whether Alexa favors Amazon's own products, many times. He didn't have the answer I. Don't remember that at all. I remember is that we we we'd match competitive. I believe we follow diapers cog, and this is eleven years ago I. Think we do is offer to get you information if you. Get it to your office for you read that article, but I didn't remember that piece of that I apologize for that I don't know the specifics of that situation, and I would be happy to give back to your office with more information about that. These questions for Basil's and Amazon strike at the heart of the antitrust that had been building for years as these four companies that we use every day every single day grow and grow larger with a combined market. Market cap of about five trillion dollars. If they were their own stock exchange, they'd be the fourth largest in the world. Here's vice chair. Joanna goose to facebook's mark. Zuckerberg strikes me over the course of the last several years. FACEBOOK has used. It's market power to either purchase or replicate the competition and facebook facebook. MESSENGER WHATSAPP instagram are the most now downloaded APPs of the last decade your company. Sir, owns them all and we have a word for that words monopoly. My Take Away I. Don't know I. Don't know if you guys watched I thought some of it was fascinating. A couple of questions, not not a lot of great questions thought. There's a lot of some good answers, some not good answers, but I didn't think that there was a major takeaway that all of a sudden. You know Washington was Gonna come down hard on these companies and there was evidence that was presented. That was gonna GonNa, create that challenge. I thought the most challenging piece of of news out there. But I think we've seen it before was instagram and facebook in some of the emails back and forth. Did you ever use this very similar facebook camera product to threaten instagram's founder Kevin side-stream? Congresswoman I'm I'm not sure what you mean by threatened I. Think it was public that we were building a camera up at the at the time in a chat. You told, MR, science that facebook was quote developing our own photos strategy. So how we engage now, we'll also determine how much were partners versus competitors down the line instagram's founders seem to think that was a threat he confided confided in an investor at the time that he feared you would go. That you would go into quote destroy mode if he didn't sell instagram to you, one of respectfully disagree with the characterization. Really dug into the emails and didn't take them out of context I. Thought, you'd have a hard case to make. Yeah, I, mean. I thought on on the point with facebook is easy Riley points to the quite a few different lawmakers went off the Mark Zuckerberg on on the topic of their competition practices whether he considered some of those companies they've taken over I, walk up and Instagram as competitors at that point which knowledge that they had been, which kind of course, a bit of a stir. Has Been Engaged in purchasing competition I, in some cases, replicating competition in some cases eliminating your competition, would that be a fair statement? The space of people connecting with other people is a very large space and I would agree that there were different approaches we took to to addressing different parts of of that space, but it's all in service of building the best services. Likewise said that they had tried to copy some of the particular tools that other rivals whether they bought them or not use including. Of course, the stories feature snap, which I thought was quite interesting, but Geo Point, Andrew as to whether we we conclude from yesterday that significant action from no makers is imminent. Even if we go to a sweep at the next election, the market didn't take that conclusion on those times. Talks hit session highs during the hearing, but the interesting dichotomy which goes to the question. Of, how much we managed to watch I watched as much as I could apart from when fed chair Jay Powell speaking and I watch that instead, and you had one side of Washington of goes up pressuring these tech stocks. The other part saying that we're hit as long as it takes, we're not even thinking about thinking about thinking about raising rates and not allowed old. Not just the textbooks. And close at a pretty strong session yesterday can I? Can I just ask whoever buys a company? That's not a competitor I mean. News the idea that you would buy a competitor when. Merger has ever taken place among a company that does an entirely different area that you wouldn't consider a competitor. Watching. This yesterday was complete theater just like it often is with the these congressional hearings. At. The beginning, they were asking questions and not even letting them answer. So this was really about giving Congress people their time to have their six minutes to talk and to go through with some of these things, I didn't feel like learned a lot under yesterday. I couldn't take my eyes off it when I was watching it, but it was theater. Classic, you'll take the time comments from lawmakers when they get me on. So they wanted to I, totally agree on that, but I would say compared to say twenty eighteen when Mark Zuckerberg had to go to face, they'll make on his own. Better prepared than they had even if it was then making arguments rather than letting. The answer, their questions, they made better arguments. They brought up more pertinent facts whether that was is Amazon. Abusing small sellers on this. Platform. In two, thousand, thirteen, it was reported that you instructed Amazon employees to approach discussions with certain business partners, and I quote the way a Cheetah would pursue a sickly gazelle is the gazelle projects still in place and as Amazon pursue similar predatory campaigns in other parts of its business. I cannot. comment on that because I don't remember it. Is. Apple misusing the margins, it takes on on the APP store. Apple from increasing its commission to fifty percents we serve. We have never increase commissions in the store since the first day at operated in two thousand eight. From doing so is it? No, Sir I disagree strongly with that, there is a competition for developers just like there's a competition for customers. So I think they were getting it the crux of some of the issues. But as we I think all concluding I, it didn't spell imminent danger for the tech stocks just because of that air. Just one note though on the competitor. Comment there or issue that you were just discussing Becky, which is an interesting one. We often talk on the show about how being a monopoly unto. itself is not illegal, and you just commented that you can't buy from everybody wants to buy competitor. Interestingly, if you're deemed a monopoly which is not illegal, but you have that market power, it actually is illegal to buy a competitor, and so if you really go back and read mark, Brooks emails even. Even about the instagram transaction, he actually even doubled back on one of his emails because I. Think he realized that given the power that having that industry depending on how you define it that he had to rewrite the email later to suggest no, I'm not trying to do this. He was by the way thinking about this, even to two, thousand, ten, you can. Almost, if you look through emails, you can sort of see how tracking in his mind. The Way He's thinking about it. So yes, everybody always wants to buy. But Inter stands at the size and scale that these companies are. Now, it's very hard to do that actually. Hit His. Answer. was that the FTC had all the same information that they had at that point in the FTC Peruta

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Lawmakers grill 4 Big Tech CEOs but don't land many blows

Morning News with Manda Factor and Gregg Hersholt

00:51 sec | Last week

Lawmakers grill 4 Big Tech CEOs but don't land many blows

"Tech has its day before the House Judiciary antitrust subcommittee. Amazon CEO Jeff Bezos faced questions from lawmakers Wednesday about how his platform treat smaller retailers. There was some argument about Amazon copying gadgets. For example, his Moto's editor in chief, John Biggs, says Facebook CEO Mark Zuckerberg was asked about his platforms really Kinship with smaller companies. I think the intimation there is that Facebook was basically running around two smaller companies offering to invest and then stealing their ideas. The leaders of Google and Apple also fielded a range of questions from the company's relationship with China to censorship concerns. Big says lawmakers were under a spotlight to it also shows you how one prepared a lot of lawmakers are when it comes to technology and as a as someone who thinks about technology all day long and twice on weekends. It's kind of frustrating

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The Biggest Takeaways From the Big-Tech Antitrust Hearing

WSJ Tech News Briefing

02:26 min | Last week

The Biggest Takeaways From the Big-Tech Antitrust Hearing

"Gatekeepers the digital economy these platforms enjoy the power to pick winners and losers to shakedown small businesses and enrich themselves while choking off competitors their ability to dictate terms. Call the shots up. End Entire sectors and inspire fear represent the powers of a private government. Our founders would not bow before king nor should we bow before the emperor's of the online economy. That's the chairman of the House. Antitrust Subcommittee Congressman David Cellini kicking off yesterday's hearing with four of the world's most powerful tech. Ceos Amazon's Jeff Bezos Alphabet Center Pichai. Apple's Tim Cook. And facebook's Mark Zuckerberg all videoed into to address lawmakers concerns. Their companies are too big and that they're squashing the competition. Here's our reporter. Brian Tracy with some of the biggest takeaways. From yesterday the biggest takeaway was just how hostile the questions were virtually the entire hearing and how they came from both sides of the Aisle Democrat and Republican. There were not a lot of breaks for the CEO's in terms of a friendly moment where a lawmaker thank them for the warehouse in their district for example it was. It was virtually all adversarial. A for these guys. The questioning was definitely choppier than we would normally expect for a congressional hearing there. Were also some odd moments. When the chairman of the committee asked the witnesses to swear in he said UN. Mute your microphones and raise your right hand which is not typically what you hear in a Congressional hearing. When they're standing in front of the cameras so yesterday's hearing was a big spectacle but Ryan says it's not the end of antitrust concerns for these companies this subcommittee will be issuing a report about whether the US antitrust. Laws need to be changed. We could also see in that report new evidence that the committees gathered. That didn't come out. Potentially if the committee wants to do that it'll be interesting to see whether Republicans and Democrats can agree on that report since there was some tension over changes to antitrust law. And keep in mind. There are also ongoing antitrust investigations of these firms by the Justice Department the Federal Trade Commission State's attorneys-general and over the coming months. We'll have to see how those play out. Investors seemed to be hopeful shares of tech companies rose more than one percent on Wednesday and the companies are expected to report quarterly earnings. Later this afternoon

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The Big Tech Hearing Proved Congress Isn't Messing Around

Press Play with Madeleine Brand

10:03 min | Last week

The Big Tech Hearing Proved Congress Isn't Messing Around

"The purpose of today's hearing is to examine the dominance of Amazon, Apple, Facebook and Google. Roger the covert 19 pandemic. These corporations already stood out as titans in our economy. As American families shift more of their work, shopping and communications online, These Giants stand to profit. Locally owned businesses. Meanwhile, Mom and pop stores on Main Street facing economic price is unlike any in recent history. Rhode Island Democrat David Cellini, opening today's House hearing with the heads of the world's big tech companies. Amazon's Jeff Bezos out of Apple's Tim Cook, Facebook's Mark Zuckerberg and Google Sunder Pitch I. The foremen faced hours of questions from House lawmakers over whether they've used their superpower status to crowd out competition. And enrich themselves. The House Judiciaries Antitrust committee, which Cellini chairs has been looking into that question for the last year. Joining us to talk about the hearing today is tech expert Tim Woo. He teaches at Columbia Law School and is the author of the book The Curse of Bigness, Anti Trust in the New Gilded Age. Him welcome back to press play. Thanks for having me here. Well, you've argued for a very long time that the's tech giants have gotten too big. What do you think today's hearing accomplished in terms of getting more support to break them up? Well, they I think there are you know, for the first time, putting the most intense documents right in front of them and seeing how they react, and I think what we've gotten out of them, especially on Facebook. Is already some admissions of anti competitive intent that to my mind, make the case for filing a complaint even stronger. And what were some of those admissions that you heard today. Well, Ah. Mark Zuckerberg was questioned about by Jerry Nadler about the his. Ah, why he bought Instagram and pretty much Zuckerberg admitted they were ah, dangerous competitors. We sought to eliminate them at Natalie reminded him that it's illegal to buy off competitors because I don't want to compete with them, and they left it there. But, yeah, that was, I think a big admission and the main thing I've taken from the hearing so far. But isn't that part of business of hostile takeovers and trying to squeeze out the competition isn't part of the American way of doing business, so there's a difference between beating out your competitors and buying them. And since about 18 90. It's been illegal to buy a company just because you're sick of competing with him. You know, you could imagine. Let's take Coke was tired of Pepsi People's Children, Coke and Pepsi, you know and said, All right, forget it. We'll just buy each other and, you know, settle the so so Now it's been illegal since 18 90 or so. Right. So when it comes to Facebook, what about the issues of how it Spreads misinformation, especially campaign misinformation, and, you know, fake news for lack of a better term. Yeah, I know. It hasn't so far. Um, it has a little bit sorry, especially hate speech. I think the big issue there that they're focusing on and Is this idea that that Facebook has an impunity because they have such a secure market position that they're not really afraid of advertising boycotts. They're not really afraid of people leaving That's the least a point that the House representatives were trying to make, and so therefore they don't really have an incentive to clean up their act. What about the other companies? Amazon that also has incredible market share. Can you first catalogue just how big Amazon is and how much bigger it's gotten since the current virus epidemic? Yeah, you know, the Amazon has closed in on the market cap of 1.5 trillion They have 280 billion in revenue. They have increased dramatically. Actually, stock prices increased since the beginning of the Corona virus by I don't know the exact percentage don't want to get it wrong, but by a tremendous amount, in fact, And there was one day in which Jeff Bezos gained $13 billion personally, so they are the biggest of big attack for the first part of hearing they didn't get any questions, but representative Dia Paul brought it in accusing them. Of lying in front of Congress about how they treat third party sellers and pressing bass. Those hard on how he runs his marketplace. So they they, they've got some of they've got some fire. Coming in. Yeah, I guess the problem. There is not only well they sell, you know products from third parties always there slow selling their own products, and so they are. I guess in competition with 1/3 party supplies on their own platform. How does that work? I mean, that's I think the acquisition or the problem is that people worry that Amazon has become more or less the dominant online retailer. They have some competition Homer, but you know, more or less dominant. So you make it on Amazon are Or you don't make it at all. And if that's the marketplace, the prospect of You come up with successful thing? I don't know Better mousetrap, and then Amazon makes their own copy of it. So the Amazon version of it and then sells it for less. You know, that turns into a sucker's game, and I think that's been the main complaint about Amazon is ah, less that they You know about their competitors or something but more that they have turned the marketplace into something of a rigged game for their own products. Right and a sweet noted Jeff Bezos is the world's richest man. Right now, the company is you outline is just so big. It's hard to even wrap your mind around it. Is there any way you could break up Amazon or hasn't just become too big to break up? That's a good question. You know, it hasn't been subject to a lot of discussion, probably for the reasons you suggest. Most of scrutiny of Amazon is how they treat the marketplace. I think for a true old school antitrust type who just believes that too much power to concentrated should always be broken. Would want to switch, you know, break Amazon into some kind of pieces. One way might be to break off their Web services division, which is a dominant in its space. You could also imagine, as with it and t breaking it into baby Amazons. I guess that are supposed to compete with each other. But I know it hasn't been unlike Facebook and even Google. Has been talks about how would you break them up? Think Amazon. It's been more about can they? Can you get them to run their at their market place better? And then Google. Obviously a search giant and it's become a verb. It's such an intimate part of who we are at this point again. How would you break up Google if you could It's a good question. Let me let me say that Google has come under fire this hearing both from Sicily knee on the idea that they are essentially eating their ecosystem That is to say. You know if you if you like like with Amazon actually similar that if You know, you could come up with a really successful Web service of some kind in your sort of small enough that Google will make a version of it and then send all the traffic to it so that that's the accusation against them. As for you know, what would you do to Google one You could say, don't do that. That's what the Europeans are trying to dio. Another would be to say, Well, listen, it Google, you run the search part and just leave it there. Don't do everything else. Okay. Maybe run Gmail, maybe right maps. But all these other little things that are just clones of other companies. Stay out of that, or make them be independent companies. I should add. By the way, there's you know, I'm maybe we get to this, but there's been AH, Google face us a lot of Republicans during the hearing, talking about different issues. Trying to get Google to admit that it Ah Is too friendly to China. Eyes too unfriendly to the US Pentagon. That's been another theme of this hearing is that I think should be mentioned. Well, you bring up China, and I guess the argument against breaking up these companies is that they're competing against Chinese companies, which In many cases have the backing of the state and there's there's no limit to their monopolistic practices. And so if these are global companies, should there be different rules when it comes to monopoly now than there were, you know, back in the 19th century. Yeah. Or the 20th? Yeah, that is the argument. So you know, kind of goes like this. If you break up Facebook or make fix books, life difficulty the Chinese will take over. It's kind of a national champion like argument. So we have to have our guys. Um I don't find it convincing at all. Last time we heard that kind of argument was when Japan was the all great mighty power that was going to take over everything in America. And they said it so you can't break up the tea and you can't break up IBM. I think we've had a better track record. Forcing American companies to be competitive. It's not breaking them up, at least putting him under heavy scrutiny like Microsoft and hoping a new generation arises. So yeah, I think that's a pretty lame excuse not to enforce the law that put it that way. So what do you think is going to come out of this? You know, I think from what I've heard there was some documents that were coming out of this that nobody has seen. And I think they put more pressure on the administration and also the states to file complaints. I would not be surprised if Google ends up on the receiving end of an antitrust complaint before November. And after this hearing, I wonder of Facebook's gonna get 12 or whether that's going to be something that the election decides. But, yes, I think it adds to the pressure to file actual cases as opposed to talking about it.

Amazon Facebook Google Jeff Bezos Mark Zuckerberg House Judiciaries Antitrust Co Columbia Law School David Cellini Tim Woo Rhode Island Tim Cook Titans Roger Apple Jerry Nadler Congress Microsoft Natalie Coke
The Big Tech Hearing Proved Congress Isn't Messing Around

Press Play with Madeleine Brand

03:35 min | Last week

The Big Tech Hearing Proved Congress Isn't Messing Around

"The purpose of today's hearing is to examine the dominance of Amazon, Apple, Facebook and Google. Roger the covert 19 pandemic. These corporations already stood out as titans in our economy. As American families shift more of their work, shopping and communications online, These Giants stand to profit. Locally owned businesses. Meanwhile, Mom and pop stores on Main Street facing economic price is unlike any in recent history. Rhode Island Democrat David Cellini, opening today's House hearing with the heads of the world's big tech companies. Amazon's Jeff Bezos out of Apple's Tim Cook, Facebook's Mark Zuckerberg and Google Sunder Pitch I. The foremen faced hours of questions from House lawmakers over whether they've used their superpower status to crowd out competition. And enrich themselves. The House Judiciaries Antitrust committee, which Cellini chairs has been looking into that question for the last year. Joining us to talk about the hearing today is tech expert Tim Woo. He teaches at Columbia Law School and is the author of the book The Curse of Bigness, Anti Trust in the New Gilded Age. Him welcome back to press play. Thanks for having me here. Well, you've argued for a very long time that the's tech giants have gotten too big. What do you think today's hearing accomplished in terms of getting more support to break them up? Well, they I think there are you know, for the first time, putting the most intense documents right in front of them and seeing how they react, and I think what we've gotten out of them, especially on Facebook. Is already some admissions of anti competitive intent that to my mind, make the case for filing a complaint even stronger. And what were some of those admissions that you heard today. Well, Ah. Mark Zuckerberg was questioned about by Jerry Nadler about the his. Ah, why he bought Instagram and pretty much Zuckerberg admitted they were ah, dangerous competitors. We sought to eliminate them at Natalie reminded him that it's illegal to buy off competitors because I don't want to compete with them, and they left it there. But, yeah, that was, I think a big admission and the main thing I've taken from the hearing so far. But isn't that part of business of hostile takeovers and trying to squeeze out the competition isn't part of the American way of doing business, so there's a difference between beating out your competitors and buying them. And since about 18 90. It's been illegal to buy a company just because you're sick of competing with him. You know, you could imagine. Let's take Coke was tired of Pepsi People's Children, Coke and Pepsi, you know and said, All right, forget it. We'll just buy each other and, you know, settle the so so Now it's been illegal since 18 90 or so. Right. So when it comes to Facebook, what about the issues of how it Spreads misinformation, especially campaign misinformation, and, you know, fake news for lack of a better term. Yeah, I know. It hasn't so far. Um, it has a little bit sorry, especially hate speech. I think the big issue there that they're focusing on and Is this idea that that Facebook has an impunity because they have such a secure market position that they're not really afraid of advertising boycotts. They're not really afraid of people leaving That's the least a point that the House representatives were trying to make, and so therefore they don't really have an incentive to clean up their act.

Facebook Mark Zuckerberg David Cellini Jerry Nadler Amazon Google Apple Tim Woo House Judiciaries Antitrust Co Titans Roger Jeff Bezos Tim Cook Coke Rhode Island Pepsi Columbia Law School Natalie
Big Tech CEOs Testimony Before Congress

Techmeme Ride Home

08:41 min | Last week

Big Tech CEOs Testimony Before Congress

"Today was the day as I record these words the big tech CEO's are still testifying before Congress. So I'm going to have to do a summary of what I've seen just in the first couple of hours or so and leave some of the juicier question and answer back and forth for tomorrow. I up a note on the format that we've been seeing. Yes. All of the CEOS were testifying remotely. They were using Cisco Webex as the video conferencing tool and it seemed to work fairly well at least right until this very moment as I turned off the stream to go into the booth to record this, they took a ten minute recess because apparently one of the witnesses. was having an issue with their stream or feed, and I'm wondering if it might have been Jeff Bezos because at least thus far were almost an hour and a half into the testimony and he hadn't been asked a single question. Anyway back to the whole idea of testifying remotely if I were going to do one of those rate, my video call backgrounds reports. Bezos look like he was in some sort of executive boardroom, lots of tasteful Chomsky's behind him. Look like he was in a conference room at a high end law firm I couldn't tell what Zuckerberg was sitting in front of it looked like closed vertical blinds almost like I don't know some sort of like a bunker like if you're battening down your house for a Hurricane Tim, Cook was in front of some sort of tasteful plant trough though he was clearly working off an ipad pro. Let's start off with what the Fab four had to say in their opening statements. Amazon's Jeff bezos underscored Amazon's job creation, its investments in social causes and its role in supporting small and medium-sized businesses. And made the case that Hey Amazon is just a tiny competitor in a huge global market quote. The global retail market we compete in is strikingly large and extraordinarily competitive Amazon accounts for less than one percent of the thousand five, trillion dollar global retail market and less than four percent of retail in the US unlike industries that are winner take all there's room in retail for many winners for example. More than eighty retailers in the US. Alone earn over one billion dollars in annual revenue like any retailer we know that the success of our store depends entirely on customer satisfaction with their experience in our store every day Amazon competes against large established players like target Costco Kroger and of course, Walmart a company more than twice Amazon size, and while we have always focused on producing a great customer experience. For retail sales done primarily online sales initiated online are now in even larger Growth Area for other stores Walmart's online sales grew seventy four percent in the first quarter and customers are increasingly flocking disservices invented by other stores. Amazon still can't match at the scale of other large companies like curbside pickup and in store returns and quote alphabets. Soon, Darpa, Chai, said that Google also operates in a highly competitive. Market and that it's free products benefit the average American quote. A competitive digital ad marketplace gives publishers, advertisers, and therefore consumers an enormous amount of choice pichai stated, for example, competition and ads from twitter instagram comcast and others has helped lower online advertising costs by forty percent over the last ten years with these savings pass down to consumers through lower prices in areas like travel and real estate Google faces strong. For search queries for many businesses that are experts in those areas. Today's competitive landscape looks nothing like I. Did five years ago let alone twenty one years ago when Google launched its first product Google search people have more ways to search for information than ever before and quote. Tim Cook of Apple said that the APP store has opened the gate wider for software developers. Also, apple doesn't have dominant market share quote as much as we believe, the iphone provides the best user experience. We know it is far from the only choice available to consumers Cook said after beginning with five hundred APPs today the APP store hosts more than one point seven, million, only sixty of which are apple software. Clearly, if apple is a gatekeeper, what we have done is open the gate wider we want to get every APP we can on the store, not keep them off and quote. And facebook's mark. Zuckerberg said well, but he said a thousand times before that facebook knows it has more work to do on things like fighting misinformation and that you know companies aren't bad simply because they're big. And he took pains to point out that facebook is an American success story quote although people around the world use our products. FACEBOOK is a proudly American company. He said, we believe in Values Democracy Competition Inclusion and free expression that the American economy was built on many other tech companies share these values, but there's no guarantee our values will win out for example China. Is Building its own version of the Internet focused on very different ideas and they are exporting their vision to other countries as Congress and other stakeholders. Consider how antitrust laws support competition in the US. I believe it's important to maintain the core values of openness and fairness that have made America's digital economy, a force for empowerment and opportunity here and around the world and quote. In his opening remarks, the chairman of the Committee David. Sy-. Selena Rhode. Island. Laid out three areas of inquiry that the was scheduled to delve into at least in questioning from the Democratic Congress folk more on that in A. Quitting CNBC, each platform allegedly serves as a quote bottleneck for a key channel of distribution and quote the platforms allegedly used their control over digital infrastructure to Sir Vail other companies, their growth business activity, and whether they might pose a competitive threat and use that information to maintain their own power and third the platforms allegedly abused their control over current technologies to extend their power through tactics like self referencing their own products. Quote. Prior to the cove nineteen pandemic, these corporations already stood out as titans in our economy. Silly said in the wake of Covid nineteen however, they are likely to emerge stronger and more powerful than ever before, and he concluded by saying quote, our founders would not bow before a king nor should we bow before the emperor's of the online economy and quote? But as I say, while this was labelled as an anticompetitive antitrust inquiry, it seems like the Republican Congress folk were primarily interested in probing alleged bias against conservative users. In fact, Jim Jordan. One of the ranking Republican representatives spent most of his opening remarks railing against. which if that continues would basically be exactly what all of the CEOS in the talking head boxes would be hoping for right lots of distraction and no real spotlight on them. In fact, a lot of the most heated questions directed at a company that's not even present. We'll see if that continues but I have to say straight off Chairman Sicily and was very specific targeted sharp questions. He kept interrupting folks when they started to stray into doublespeak and the very nature of the questions from him and others at least so far. This wasn't like previous congressional hearings we've covered where the congress folk didn't seem to even understand the businesses they were investigating, and maybe that was because I don't know if you saw the woman sitting very prominently very obviously behind Mr. Cecil lean. Let me let the Washington Post fill you in on who that was quote as a twenty eight year old law student Lena Con penned a twenty four thousand word article for Yale Law Journal titled Amazon's antitrust. Paradox. The article described how US antitrust law isn't equipped to deal with tech giants such as Amazon. Even as the company has made itself as essential to commerce in the twenty first century in the way that railroads and telephone systems had in the previous century con now works as counsel for the antitrust subcommittee she has worked with Sylvain to develop his case against the tech giants including Amazon and quote. As I said, the questioning is continuing as I speak these words in fact I just heard that they came back from their recess. The whole thing did kick off hour late only getting started at one PM, eastern? So I don't think it'll be done before for five PM at least. So again, I'll put together a summary of all of the juicy exchanges happening now for tomorrow.

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Jeff Bezos Touts Amazon's Job Creation Efforts in Congressional Testimony

Bloomberg Businessweek

00:36 sec | Last week

Jeff Bezos Touts Amazon's Job Creation Efforts in Congressional Testimony

"Of Big Tech is under scrutiny on Capitol Hill with Facebook's Mark Zuckerberg, Amazon's Jeff Bezos, Sundar Pichai of Google and Tim Cook of Apple, all appearing before the House Judiciary Committee. Bezos says he's proud of the jobs that Amazon has created. The trust customers put in us every day has allowed Amazon to create more jobs in the United States over the past decade than any other company. Hundreds of thousands of jobs across 42 states. Lawmakers are looking at whether the companies have grown too big and powerful and whether that growth is stifling competition and innovation and raising prices for consumers.

Jeff Bezos Amazon Sundar Pichai House Judiciary Committee Big Tech Tim Cook Facebook Mark Zuckerberg United States Google Apple
Top tech CEOs to testify on Capitol Hill in antitrust probe

WBZ Midday News

00:25 sec | Last week

Top tech CEOs to testify on Capitol Hill in antitrust probe

"Wall Street. And, of course, big tech talk amid Cove in Mona Rivera is here. And Laurie. That antitrust hearing on Capitol Hill is underway and the CEOs of the big tech giants have started to testify remotely. They will argue that stronger antitrust laws are not needed. Right now. Amazon CEO Jeff Bezos is making his opening statement. All three

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"jeff. bezos" Discussed on GeekWire - Geared Up

GeekWire - Geared Up

06:28 min | 6 months ago

"jeff. bezos" Discussed on GeekWire - Geared Up

"Of a wakeup call. For how pervasive and how powerful this company has really become the last twenty five years under the leadership of Jeff Bezos who has described in the documentary as a small nondescript sandy haired man sitting at his desk back then when it was first starting Seattle to now a figure of folklore and the world's richest person so it Kinda uses Jeff Bezos to tell the larger story of Amazon how powerful they are And it really questions that impact that they're having on society whether they really need to be regulated. Did you walk away from it feeling? Like wow this is a monopoly and regulators need to step in. I don't know it definitely is. It was creepy was kind of scary. Just know and realize how much Amazon is doing. I think we write about it every day. We know about it but just in terms especially the data that they're collecting. You Know Amazon has always been data company in from day one when they launched their bookstore. And figured out what you were clicking on what you put in your shopping cart in which you didn't use Alexa and the ECHO. We don't even think about that as data but that is really data that Amazon's collecting so it's not to me to say whether they should be regulated. But I do think at some point. The government should step in whether the trump administration. Who would do that? That's their story. But these seem to be getting so big that even their first employee who is quoted. He's one of nine former insiders that are interviewed in the documentary Even he was saying that he was getting a little worried that his babies now turn into this monster it's not unfathomable that the trump administration would step in on the one hand. You have this government that is famous for being very friendly business but on the other hand. Amazon is kind of not in that category because of the personal animosity between Jeff Bezos and trump. Yeah I mean we'll see what happens in you know the big Djeddai cloud computing contract with the Pentagon's going on there's some push and pull between the government and Amazon Microsoft. We'll see what happens there but yeah it's it's definitely a must watch. I think it'll make you realize and learn a lot about Amazon's rise to power and I thought it was really well produced. They Sandwich Day which was really interesting. They started with the blue origin. Referencing the ended it with the blue origin reference. I think the US bases quote of big ideas style starts small or something like that. So it's interesting that the US Bazo his blue origin space venture to tell the story of Amazon and show. Jeff Bezos has kind of ambitions and goals It's been said and Jeff has discussed this that. The reason he started Amazon was to make enough money to fund his blue origin. Space Venture eventually contribute to getting millions of people living and working in space and so I guess that shows how big his ambitions have been. Do you think Alan covering blue origin so closely. Do you think that his attention has focused? And that's the top priority. Now I don't think so. I think that he's got so many irons in the fire. He does have a schedule. For example I believe Wednesdays are his blue origin days. He's got so many other things going on that. I think that he's actually shifted because now blue origin has a CEO. A gentleman named Bob Smith who is doing more and more of the public work and so I if anything I think. Jeff is step back a little bit to kind of let the organization grow because it has grown quite a bit. It was four years ago or so. It was at six hundred employees and now it's near three thousand employees interesting. What's really struck me about? This documentary was not only how many people Amazon has made angry over the years. But how many of them front-line got to speak on the record because we know covering this company? It's hard to get people to say anything bad about Amazon. Who Do business with them or might have done business with them in the past or perhaps had a nondisclosure agreement with them but kind of in every sector that they're in there was somebody to complain whether it was booksellers who felt like they had been ripped off former employees mayor. Bill de Blasio in New York. Who was furious with Amazon for pulling out of their Amazon? Hq to agreement to build a big headquarters there his quote. Actually I wrote it down because it just really struck me Amazon. Pulled out of this deal because there was a lot of criticism particularly from local officials in New York and to Blasio said in. What world are there? No critics? Well Yeah in an autocratic totalitarian world. Maybe they're not allowed. And maybe that's the world. Jeff bezos somewhere in his mind thinks he's entitled to still angry about the whole issue thing. A seems a bit salty about it for sure from. I did a really good job of getting insiders reporters and I thought the questions that they're producers asked the Amazon's exper- particularly good and it. Actually you know the Amazon execs are very good at kind of repeating the same things over and over and they tripped up a couple of the exacts a few times for example Dave Limp. Who'S THE AMAZON DEVICES CHIEF? They asked him about Alexa. And you know if the echo devices are always listening and and he started his response saying I disagree with that they're not listening and then literally a few seconds later. He said they were listening. And he had to backtrack on that so it was interesting to see kind of the test a little bit right. And Jeff Bezos did not sit for an interview in this documentary a bunch of executives did though and that's a big gap because it's hard to have Amazon actually put those executives forward for interviews but I thought it was really clever. What frontline did they pulled from old speeches and other interviews that were captured on video of Jeff Bezos and edited them very carefully to show kind of his inner mind thinking and in some cases it was a little bit damning because it went against what the more evolved Amazon is now saying about some of its practices Yup and circling back to your first question antitrust for a long time? Amazon's maybe live behind this thing. Where their whole thing is keeping prices low for consumers and that's. I think how they've maybe skirted away from the antitrust discussion because the current US laws. Are you know antitrust is put in place to protect the consumer and Seimas on says? Hey we are what we're doing but I think at some point in the documentary. They said we'll consumers may maybe getting lower prices everyone else in the ecosystem may be getting hurt and that can include third party sellers or competitors delivery drivers warehouse workers exactly so maybe low prices is not the only thing that the antitrust regulators should be looking at well. That's the big question of antitrust. Scrutiny of big tech right now because like you said traditionally at least for the past..

Amazon Jeff Bezos US Alexa Seattle Bob Smith Space Venture Bill de Blasio CEO New York Seimas Pentagon Alan ECHO Dave Limp
"jeff. bezos" Discussed on The Current

The Current

14:39 min | 6 months ago

"jeff. bezos" Discussed on The Current

"Jeff Bezos out with this next big idea announcing multi billion dollar effort to fight climate. Change calling the Basil's Earth Fund to provide grants starting this summer to scientists activists and NGOs focused on climate change with a net worth of one hundred thirty million valuing. Today's commitment at seven percent of his riches world's richest man meets world's biggest problem. That would be one way to look at the staggering amounts that Amazon founder. Jeff bezos pledged to his new Earth Fund. This week by putting ten billion dollars on the Jeff Bezos. No doubt hopes to make a difference for the planet but he's also drawing attention to it. Some people call big philanthropy and the questions that raises David. Callahan is the and editor of the website inside philanthropy and author of the Book of the Givers Wealth Power and philanthropy in a new gilded age. Good morning thanks for joining us. Great to be here. Thank you ten billion dollars. Sounds like a lot of money. What did you make of this announcement from Jeff bezos earlier? This week well. That is a lot of money. And it's especially a lot of money for the field of climate change work the next biggest funder in that space is the Hewlett Foundation. It gives about one hundred million dollars a year so that ten billion dollars is much greater than any amount of money. We've ever seen go to fight that climate change problem so given the size of the check. Is this something that you think. Climate Change activists should be celebrating or. Should they be a little cynical? Perhaps skeptical about this well like a lot of this big philanthropy by these billionaires donors. It's kind of a mixed bag on the one hand. What's not to like about some Jeff bezos with one hundred and thirty billion dollars showing up and dropping ten billion dollars to to deal with climate change on the other hand that gives him a lot of power as said he's now the biggest funder in that space and with that money comes influence in terms of what issues get prioritized and how this fight against climate change unfolds going forward. Do we have any sense as to who is going to be funded? What research would be funded Through an announcement like this. It's too early to say. He did say that he planned to give money to NGOs into scientists and You know there are obviously a lot of groups already out there working on this issue whether it's the Sierra Club or Natural Resources Defense Council and those organizations could use a lot more money to take on this problem. What sort of impact do you think it could make? I mean as you say. There's nothing of this scale in the climate change file If you give ten billion dollars what sort of impact that have it could have a big impact. It could greatly skill up some of the leading advocacy organizations. That are in this fight that money could be used to back grassroots groups trying to build greater public will. It could be used to help shut down. Coal fired power plants which is a kind of work that is costly litigation to to try to take out fossil fuel production plants and So we could have a huge impact when nobody knows how quickly he's going to give away the ten billion dollars whether he's going to put more money into the causes over time he does isn't the only Giant of technology to pledge to give away some if not all of his billions of dollars Mark Zuckerberg Bill Gates Among others have signed the so-called giving pledge that would make them compelled to give away a majority of their fortunes that seems on the surface to be a great thing in terms of helping the world by giving away money. That you've made what are the pros and cons of that sort of massive philanthropy while the pros are are that you do want the rich people in America and the world to embrace philanthropy to give away their money to help us solve some of the big problems. We have The CON is that with philanthropy comes influence and the best way to think of it. Is that this philanthropic giving is often another form of of money in politics Just like campaign. Contributions can buy influence and power for the the wealthiest people so can their philanthropy. It can be used to back think tanks toback advocacy organizations tobacco litigation. There's lots of examples of philanthropists who have written big checks and had a lot of of clout in terms of how certain public policy issues unfold. So it's not as though they're just writing a check you're suggesting that they write a check and then have some influence into where that money goes and what it's actually going to do. Well Yeah if you put a lot of money into a conservative think tank that that becomes a very effective and taking on a certain issue up say on Tax Policy. The you can have a lot of influence in terms of how tax policy goes if he put a lot of money to climate change. Michael Bloomberg has put a lot of money to climate change. She's helped shut down. Hundreds of coal fired power plants giving tens of millions of dollars to that. 'cause that's all great news if you think. Climate change is a huge problem. And you want to see coal-fired power plants taken out of commission. It's not so great news if you work in one of those coal fired power plants and So I think that a lot of people are wondering you know who are these billionaires who get to have so much influence education as another issue a lots of money behind charter schools and school reform efforts in the in the in the United States about who are billionaires to be to be having so much influence over a public institution? Is there any accountability in that? I mean you're not going to turn away. Presumably a ten billion dollar checker however much money someone who's going to be donating With that many. Zeros behind it but is there any accountability in terms of How those billionaires are guided when it comes to where the money is going. There's not a lot of accountability now. One BILLIONAIRE DONOR WHO'VE BEEN HEAVILY INVOLVED IN PUBLIC EDUCATION ISSUE? Said you know the great thing about me and Bill Gates is. We can't be voted out of office and indeed. The lack of accountability is a strength of philanthropy at that donors can take risks. They can back ideas that politicians would never get behind. They can think long term and and and look over the horizon as opposed to worrying about the next election or worrying about quarterly results. That's all a good thing. The bad news. This lack of accountability is that when they screw up or if they're giving does damage society. There's no way to stop them from doing more of the same. They also get to choose where their money goes Japa- said that it will go to helping to fight. Climate change are there causes and parts of society that might miss out when billionaires get to determine where their large donation will end up. Well what often happens is that grassroots groups that are working in communities that are trying to build power among the most marginalized people in society get mere crumbs if if anything at all from these billionaire donors remember. These are people. These donors who've been the winners in our new economy. They're they're the beneficiaries of trends like technological change globalization and many of them don't really want to challenge the status quo in any fundamental way in they're giving reflects that you don't see a lot of their gifts going to back labor unions or or advocacy groups that are really working to empower the poorest people in society. You mentioned Mike Bloomberg who has given a lot of money away over the course of his time. in business as a billionaire he also happens to be running for the US Democratic nomination. How does giving money away? Impact his candidacy. Do you think it's problematic? Bloomberg has given many millions of dollars to Mayors cities around the United States He's now getting endorsements from those same politicians and people are wondering. Hey you know. Was that the plan all along. Was he making these gifts a sprinkling money around the country in order to have some power in terms of of being able to call in endorsements later when he runs for President? If you go back to Amazon's Jeff bezos. He hasn't give you mean he's very wealthy. Man The wealthiest man in the world apparently but he hasn't given a lot of money away before this has he. No he hasn't and he's gotten a lot of criticism for not being a a major philanthropist. So far he is sending on tens of billions of dollars in wealth. His philanthropy has been quite meager to date significant gift here and there but but nothing sustained or large scale so this is a big new departure for him. Does he need to give any money away. I mean you could imagine somebody saying he made the money. Why why does he need to to be involved in philanthropy? That's his choice. A well exactly. He does have the choice not to give anything away but walk at the end of the day. Something has to happen to all this wealth and many of these people who've assembled these great fortunes don't WanNa see much of it go to the the government in the form of state taxes and so they would rather be in charge of giving away money themselves a lot of them. Also don't want it. Don't WANNA leave this problem to their kids. I mean it's one thing to leave your kid ten million dollars. It's another thing to leave your kid. Ten Billion Dollars Amazon has faced. All sorts of heat is a frontline documentary that aired on PBS Just in the last couple of days about The way that it treats its workers about its environmental impact around antitrust issues. What impact do you think those issues had or have had on? Jeff bezos is philanthropy. It's hard to say. It does not seem like a coincidence. That Jeff Bezos has turned to large scale philanthropy at a time when Amazon is facing rising scrutiny and criticism like lot of tech companies. Amazon is coming under fire from for from critics for all sorts of of of issues. And it's coming under more scrutiny from regulators who are looking at whether this is a monopolistic company You know it's worth recalling. That Bill Gates began his career as a major philanthropist in the year two thousand when he was right in the middle of a antitrust suit by the Department of Justice that was looking to break up. Microsoft and right in the middle of that Legal Fight Bill Gates announced that he was giving more than twenty billion dollars to his foundation to take on issues of global health and development. There are a number of people including Amazon's on employees who've said that What the company needs to be aware of as its own environmental impact. That has these huge data farms running it's Amazon web services.

Jeff Bezos Amazon Bill Gates United States Michael Bloomberg Earth Fund David Callahan Hewlett Foundation Bloomberg founder editor Mark Zuckerberg Sierra Club or Natural Resourc Microsoft PBS
"jeff. bezos" Discussed on We Hear

We Hear

09:08 min | 6 months ago

"jeff. bezos" Discussed on We Hear

"His old pal new Jackie's back in the day when he was just kind of budding. Mogul say they don't recognize him anymore that he's Gone Hollywood that since he matt Lawrence Sanchez that he's like changes style that he's hanging out with celebrities he's posting sell fees he's partying on yachts and that And they don't know who he is anymore. Gone are the days of the fleece vest yet. There's no more fleece but you know I and and obviously he just He just splashed out on buying on the old Jack Warner state which more recently people know that as David Geffen's Beverly Hills estate is thirteen thousand six hundred square feet and he paid one hundred sixty five million dollars for this for this home. I'm actually some disappointed because back. I remember when David Geffen bought the Jack Warner estate which had belonged to the Venerable Warner Brothers Mogul and studio boss and I always kind of had my eye on this property as well. I mean I I always like coveted this is one of the Hollywood properties that I covered it. And now it's been. I've been gazumped you've been Kazaam. Yeah which is a gazumped is now is like a British term. I believe in real British real-estate term for when someone buys out a property from under you you have like a mid on a property and someone gets it. So bezos. Geserum me on this one but a year ago we were expecting Jeff Bezos to maybe show but the Oscars going. He was already embroiled in this kind of scandal where he had left his wife. Mackenzie visas for Lawrence Sanchez. The ex wife or then current wife of Patrick White Soul the William Morris Endeavor power agent and we were waiting for them to sort of go public with their romance but I guess they Kinda put those plans on hold because basically you know he has been showing up at the Oscars for the past two years because Amazon is a major player in the In the movie business he had Manchester by the sea. Which was a bit of a Oscar? Contender Twenty eight twenty seven. Twenty seventeen exactly. Casey Affleck won But Lawrence Sanchez. Didn't show up with him. At the Oscars year ago flash or to this year is like a totally different story right there. Vanity Fair Party together. He over the summer was on David. Geffen's yacht than I. Maybe they were like brokering that deal to buy my house. You know he was at the Super Bowl. Sorry year ago also at the Super Bowl. He kept a low profile. He showed up at like a party. Thrown by Robert Kraft went to this role with Roger Goodell because Amazon also has business with the NFL. Right Dream I think Thursday night football for the NFL. This year another story again. He showed up and took a Selfie with Liz. Oh you know so he. He has an end. People of noticed like Sarin Nathan own paid six reporter has written a story that his friends have noticed that he's he has changed his style. Righties gone or the doughty Dorky. Fleeces talk gone. Are The boot cut. Jeans Garner the boot cut jeans. He and Lawrence Sanchez also showed up in Mumbai recently at an Amazon event where he was wearing like a kind of flashy Ir. I don't know maybe I don't know why the word brocade is coming to mind. I don't even know what that means. But I'm thinking brocade thinking well. Braggadocio mean different. Things Brocade low. That's menswear line brocade doce. Yeah that is. That's my formal wear. Yeah you're going to challenge suit supply very popular at proms. Eastleigh MEAN JESSICA MCCLINTOCK. Doing a labyrinth. You don't I wore not one but two just McClintock dresses to PROMS really Amazing Yeah they were both to to Jesuit lint dresses in one night to the same Diana Ross. When I was a junior I went with a senior and then when I was the senior I went with a senior. I think was there also a? I don't know why I know this shows. My deep encyclopedic knowledge of the trivial. Was there another prom dress? Brand called like gunny sack. I think I don't know maybe it's a Dolly Parton lyric. Do you know said. Why'd you come in here looking like that? Where she's basically objectify man in cowboy boots? You could stop traffic and gunny sack man anyway. Anyway as Shafiqul okay. So He's been showing these things. Jeff Chang with stars buying properties releasing photos of them in front of the Taj Mahal via the AP. Did you see that when they were in India? There's like a very like couple in India photo that the AP released as a high profile relationship when your couple photos are released by national news they also recently had lunch with Anna winter which we reports by the way at the dawn of this relationship. I attempted to get them a joint nickname which never worked in call them Bez. Chaz started writing as Chaz. I did it in one story and I put it in the headline and it was like Bez. Chaz thanks Maggie. No it did not get edited out. It ran and no one cared. No one paid attention to pick that up. Now go ahead. Is Chess Okay? This shows them having lunch with Anna. Wintour does this mean we're going to see them the cover. That was the SPEC. I don't know how the cover but but that was sort of the speculation you know. Could they be tied in about the met? Gala is another possibility. Maybe you know are they are pretty expensive. No but could that be a possibility? Do you think the five hundred dollar product flip flops. That made their debut on. Geffen's yacht went to Miami. Who's Flip Bazo? Sleep was wearing a five hundred dollar. Prada flip flop like that product flop so a source at told Sarah in her. I've known jeff since the early days of Amazon his recent behavior is nothing that I would expect from him. This is not the Jeff that I knew another source had told her that Jeff has clearly gone. Hollywood risky fashion choices lunch with Anna Winter. A nonstop barrage of shameless. Self with allister's he's a narcissist with poor judgment and Lauren is calling the shots sources. Also say that rather than driving a wedge between base Os and Sanchez. The highly public scandals have actually brought the couple closer together than ever before. What do you think Mackenzie Basis doing? Just like cackling just taking screen shots and sending them to the group tax author friends or like crying emoji. I think that I think the Jeff Bezos was enjoying wanted to get into the whole Hollywood scene years ago. Well before he met Lawrence Sanchez because I was at the Golden Globes a few years ago and it was sort of a time where Bazo was not. He wasn't his recognizable. You know what I mean. I guess people who knew who the head of Amazon was would sorted known but if you were at the Golden Globes like everywhere you look are major stars so wouldn't be like you'd be like ooh. Jeff Bezos was sort of like recognizing like Jack Dorsey Ray any other baseball to know. Yeah I remember that. There was one studio head who actually said to me after the ceremony. Hey did you see Jeff Bezos at the at the words and I was like Oh no I hadn't noticed like Oh my God. He loves this. He was like basically the studio boss told me that they they noticed. Particularly that bazo sauce was really enjoying the attention because everyone was Amazon was moving into the film business and the film business is in trouble. Generally so the places that have the money. Now or the streamers like Netflix and Amazon. And Hulu but he loved the attention from everyone in the business but he also My source was telling me that he was just loving. You know being with the stars in loving the attention and now it's culminated years later in you know at the Oscars. This year Chris. Rock on stage specifically had material about Jeff. Bezos was on camera in wall sometimes celebrities kind of cower. He seemed happy. He was smiling when Chris. Rock said he's got cash when he writes a check. The bank balances like Jeff Basis is so rich. He got divorced and he still the richest man in the world. So I think that this journey from the fleece to the loss. Ooh very safe loss anymore. That this was kind of in the works and something he has. I on before Lauren Sanchez that he loved the Hollywood stuff I think. Also if you're buying Jack Warner Resolve House. It shows like an appreciation for sort of old Hollywood and old Galley with mogul dumb. It's not just.

Jeff Bezos Lawrence Sanchez Amazon David Geffen Hollywood Oscar jeff Anna winter Jack Warner Lauren Sanchez JESSICA MCCLINTOCK Jack Warner estate Golden Globes Jeff Chang India NFL Chaz Jackie Kazaam
"jeff. bezos" Discussed on Slate Money

Slate Money

13:48 min | 6 months ago

"jeff. bezos" Discussed on Slate Money

"So let's talk about the hearing. That happened on Thursday in the Senate in front of the Banking Committee Pretty much fifty fifty Republicans and Democrats but I watched a bunch of it and it. Some of them are nice but most of them both sides would not nice to Judy Shelton. Who was one of the two nominees hitting that and then there was this other guy sitting two left who basically everyone ignored because they were like okay. You're you're you're respected fed economists. You've been at the Fed for years. Everyone kind of understands the Oh qualified. So why are you even here? And these are trump nominees for the Federal Reserve to be clear and what trump has done when he's nominated people to the federal because they really have fallen into two buckets. He's sometimes he just nominates the obvious technocrat. Who is good at their job? And probably Jay Powell would fall into that bucket but so Lael brainard and various other people who like sailed through the nominations had no problem and then yeah I mean I think we look at kind of early trump. It was still kind of normal and now we're moving a little bit into crazy trump. But but the point is that even with these two nominations. He's got one of each. Yes and that's true. Yeah the Was it Chris? Waller yes chriswell is. He's this Louis Fed He's always been on the dovish side He's buddies I believe with Larry Kudlow and they're both into the idea right now that they can keep on unemployment can go still much lower and it won't affect inflation so you know. This is a debate. That's happening in the Federal Reserve and basically every time that the Fed has worried. The unemployment has reached as low as it can go before inflation kicks in They've they've said like well. Let's try and see what happens if it goes even lower and then it goes even low. Inflation doesn't turn up so so it's an interesting debate in the central banking community. And there's lots of talk about this thing. Called the Phillips Curve and Chris Wallace right in that debate and he can add useful perspective to the Fed Board in terms of that debate and probably his conclusions are aligned with what Donald Trump would want them to be. Which is you can cut rates more. And that's fine but ultimately he's a relatively professional central banker and he'll be fine. Yeah the reason judy. Shelton is so worrying to people. I would say it's twofold. One is some of the things she said in the past specifically being a big fan of the gold standard believing that the Fed just shouldn't exist at all not believing in deposit insurance among just pause deposit insurance like Fdr deposit-insurance like the assurance. That I have that the money in the bank will be there tomorrow because I know that the federal government will make me whole. If I lose the money in my bank account who I was really surprised that a human person that is nominated for such an influential position. I mean I know. Gold bug is crazy too but for some reason I cannot stop thinking about that. This woman wants to get rid of the FDIC so as soon away by that. This is this is. This is not just by the way to fall point to be clear. This is not just something that she wrote once she this is something what she built her entire career around which is basically and this is not unique to Judy Shelton. This is a very very stand. The like hard libertarian view of monetary policy that the federal government should not be involved in monetary policy that we should just outsource the whole thing to a lump of gold and that Thanks and the banks. Should you know license full on their own merits? And they shouldn't be backed up by the federal government because the federal government like at interfering private comments and like the the crazy sort of rand's pool wing of the Republican Party has always had an affinity for this kind of thinking it has never been remotely. Mainstream is entirely counter to really the existence of Fed. And I would say what that's disturbing but I would argue that what's even more disturbing is her. Partisanship is the fact that she as you said. Felix built her career on this and then when she became clear that she was perhaps more aligned with trump that he was maybe going to appoint her now all of a sudden. She's a duff. When Obama was president she was out there saying that the Fed should raise rates and It was ruining the economy and now with trump residents. She wants the Fed to lower rate. And it's not just that she wants the Fed to lower rates he also seemingly wants the Fed to start getting in charge of the dollar in a way that like has historically been the rim of the Treasury Department and the Fed and she's like the Fed should lower rate specifically to weaken the dollar so that we can enter this currency war and expert model and this is a very very trump ist view and what is absolutely clear is that she has effectively jettison everything that she has ever said in the past after going to work for trump on the trump campaign in two thousand sixteen and is now a mouthpiece for whatever trump thinks this week and she would certainly just vote and act on the Fed Board in accordance with what trump wanted rather than in accordance with. Whatever wingnut libertarian ideals? She this would actually not so. I don't think it's so bad to keep rates low and keep juicing the economy and see how you can get unemployment for now. I guess the issue is trump wants. Trump leaves will the issue is twofold as one would say. I that she. If if trump gets reelected I think Felix has pointed out that she could be Put in charge of the whole thing could be mixed check next chair bad. And then second if trump gets voted out and she stays there then she and the Democrat. Who's president she could flip flop again and you know work. Put the brakes on the economy instead of using it the biggest issue is that she if she is on there and especially if she is the chair that starts to call into question the Independent. If is the chair. There is no funded infant. The rest of the board cut is I mean. It's not John me if she is shed. No I'm going to just come out and say if she is the chair then what the only way that she becomes the chairs trump is president so if she is a church the chair and trump is president there is no fed independence. The chair of the Fed just does the bidding of Donald Trump and maybe she has difficulty getting a majority of the votes on the Fed Board. Although at that point who knows you know on the Fed vote? But the fact is the multi decade history. Fed Independence has at that point. Come to an end and this is. This is incredibly dangerous like that to me. The reason why I think is actually won't happen is because of how dangerous that is. Having an independent central bank is so important for market participants to have faith in the dollar to have faith in our debt to have faith in the ability of our government to like have a function economy. It is so important when you look at times when the Fed independent owner when other countries have had their independence of their central banks questioned or clearly shown to be the case. The consequences are devastating. And we saw that even in the United States with other bands. You know when Fed independence goes that's harmful and what was super interesting in the hearing was at one point. Christopher Walla actually managed to get a wedding edgewise and he was talking about the ability of the Fed to keep on. Keep facing under control even when unemployment is very low and you have sort of full employment situation and he was like you know why we can do that. It's because no one expects inflation and no one expects inflation because everyone believes in head independent and everyone trusts the Fed and so long as people trust the Fed. No one's going to be like raising prices in expectation of inflation inflation to a large degree as a self self fulfilling prophecy like the the dynamics of inflation are the people ask for wage increases or increase their prices because they think that as inflation out there and they need to keep up with it and so long as you don't think that inflation is out there so long as you trust the Fed to keep inflation under control. Inflation doesn't appear well and also because I mean to be fair. Also you had a if you were just all of a sudden started printing money and you were printing money far in excess of increases into productive capacity the economy in theory. You would cause inflation right so that is why we have an independent central bank. So that governments won't do that because historically not necessarily always in the United States low can be in many other countries when countries want to print money so that they can spend more and then they degrade the value of the money and this is the dynamics of it. I mean so so yeah just to be clear here right now. Donald Trump. It's on a bit of a spending spree spending spree but suddenly like a fiscal stimulus free. He he cut taxes a lot and the way he's funding. That fiscal stimulus is by borrowing on the market and by issuing treasury bonds. It is conceivable if you lost the independent Central Bank. The he could just Clinton money instead. Instead of instead of going out and boring money from investors he would just say. Oh you know magic. I'm GONNA magic trillion dollars of you know new money out of thin air because you can do that when you have control of the printing presses and that you know as Anna says is super dangerous on a economic level you know. Do I worry that the Fed would be cut loose so much independence that they would go? That far probably not be. You never know I mean I agree with you. I'm not saying that I think that is my base case. I'm just saying that. That is the danger like when people say. Why does it matter if we have an independent? That is one of the reasons. The other reason is because let's say all of a sudden inflation for whatever reason does start to move up and if we do not have an independent fed they may be much less apt to actually act because the president will be like no if you raise rates. You're going to hurt the economy. I don't WanNa do that. So that's what the classic idea of. What what central bankers do they take away the punch bowl? Nobody likes the person who takes the punch bowl so they can't be body. The bigger picture here is that everything has become politicized. The Supreme Court is politicized which you know is meant to be like this the branch of government but has become just as his d in the way that it was never meant to You know the Senate was never really meant to be an office de body it has now become that and Justice. I think is a really apt example of justice. We know is happening this week. And if the Fed becomes politicized if you put Ponti political hacks onto the Fed such as Judy Sheldon though Stephen Moore Herman Cain that votes are going to be very very simple and very very predictable which is a simple if then if there's a Democrat in the White House I want to raise rates. If that's a Republican in the White House I wanted to raise and the Fed if you have that then what you wind up with is a fed whose basic job is to re elect Republican presidents and to make me crap so that democratic presidents wind up getting kicked out. You know conceivably it would be possible. I actually don't believe that there's anyone who would vote the other way like be like a Democratic Party hack and always for the to raise rates under Republican president. I can't think of any human being who would act that way but like ability of the possibility of the Fed board breaking along offices dealines rather than across lake hawks versus Devlin's is is so terrifying to any kind of economists that they just wanted to prevent that and I think that is ultimately. Why Judy shells and is going to withdraw nomination. She has got much further than the previous party. Hacks who who Trump nominated and the reason why they pulled out. I'm Cain and more previously was actually not because they were party hacks at least face but it was because they had like a personal problem and this is I actually think what's interesting is that because they had some kind of like me to issues that was kind of a fig-leaf that could be used so they didn't have to actually talk about the kind of independent issue or their their actual beliefs whereas with Shelton. You don't have that so then you really do have to say we are not nominating her. Because if you know we don't we think our ideas are not within the mainstream and we do not think she would hope hold the independence of the Fed and by doing that they now are going to raise the eye of Donald Trump. Which obviously people don't want to do. I guess the question is when people are listening to this episode. Is she still hanging around? We're not Also she did say something insane about she compared Some frauds financial fraudster to Rosa parks because of his audacity because he wanted to try to print his own currency and he went to jail and again in this late bonkers libertarian worldview. Everyone should be able to print around currency. The federal government shouldn't have monopoly on printing currency. And so she's like Y-..

Donald Trump Federal Reserve Fed Board president Judy Shelton federal government United States Senate Jay Powell Lael brainard Felix Democratic Party FDIC judy Stephen Moore Herman Cain Banking Committee Larry Kudlow Chris Wallace
"jeff. bezos" Discussed on Recode Decode

Recode Decode

11:37 min | 6 months ago

"jeff. bezos" Discussed on Recode Decode

"We're here with David. Kay He is a an author and he also works for the U. N. around Freedom of expression and opinion and he is also a professor a law professor. David we're talking about the idea of it being groomed. Let's walk us through your involvement in the Bazo thing because even though such a bizarre thing but it it sort of it encapsulates. What's going on the world's richest man who was hacked by another rich Man Who is actually targeting him because he owns the Washington Post and all kinds of things. Talk a little bit of what happened here. How you all got involved so I think I mean a lot of people know about the murder of Jamal. Khashoggi and journalists were wrote for The Washington Post. Exactly yeah not not the worst dissident Saudi Arabia not that most active but he was very outspoken about the Saudi government. Exactly I mean Jamal in the past was actually a friend of the house very much Believed in it as a stable force in Saudi Arabia so fair criticism. He was doing of the country totally fair criticism. He I mean in his is reporting. He was becoming more and more critical so in the year before He was he was murdered. His you know. His columns took a pretty turn against against house and in particular against the Crown Prince. Mohammad bin solved the behaviors. That were happening. I don't mean to say it wasn't. The worst is that he wasn't the most way out doesn't and he was very trying to change the society with criticism which wasn't a radical exactly wasn't a flame thrower by any means so after his murder. Both on yes Calamar. Who's the Special Rapporteur on extra judicial killings? Both she and I had gotten involved in you know at first we were urging the UN basically the secretary general to launch a commission of inquiry or at least a point a group of experts to investigate how it was and who was responsible for murdering Jamal Kashogi in the Turkish in the tragedy of this Saudi consulate. Is You know makes it an unusual set of circumstances. It's not our normal killing of a journalist so and and then on yes went on to do her own. Specific investigation of the killing and and her conclusion was basically. The crown prince was behind our own intelligence officials. Everybody exactly right so okay. So that's on one track And as part of her investigation she saw that there was considerable surveillance of people around Jamal Kashogi so dissidents activists journalists who were associated with them and it was clear that they had been an citizen lab a an organization based at the University of Toronto. That does a lot of amazing forensic work and advocacy. It identified the well. There's this Isreaeli Company that makes this. Malware spyware called. Pegasus that is a tool for really invasive. Intrusive surveillance Via phones the phones. Exactly okay. So that's happening on one track on the track. I did a lot of work on the private surveillance industry more. Generally I mean. It's an industry that basically operates without constraint so NSO group is just one instance. There's hacking team there's Gamma Group Fisher. There's there's it's actually probably We only see the tip of the iceberg. And they're being hired across the globe you've read about them in in in like books spy thrillers but private companies that are hired to do surveillance by governments or individuals or companies or things like that. And it's been growth them using digital means completely and there's a legitimacy to it I mean there's a legitimacy to saying you know in the in the context of fighting against terrorism were violent crime or You Know Ch- child abuse and kidnapping. There's a completely legitimate use. As long as it's constrained by rule of law raining you know warrants judicial warrants for the use of those tools. There's a legitimate place for these and actually a pretty important one. The problem is that these tools are abused around the world against journalists against activists and human rights and gender dissidents. So so I did a report last year. That focused on the on the industry and I basically called for a moratorium on the transfer of this technology. At least until there's a legal framework around it transfer and constraint on its use so you know basically that put on yes and I gave us some profile on these kinds of issues and so we were We were basically handed This forensic report that looked at This allegation that Jeff bezos haven't had had Amazon had been hacked not not just by Saudi Arabia. Because that had been out there his chief of security had made this allegation about a year ago I think in in February march last year But actually tied directly to interactions with the crown prince with. Nbs himself to lay this out. How this happened this report that GA- given Sorry backup to Becker who worked security head for Jeff as as you'd imagine the world's which meant that has security around him and you'd imagine you would be safe because he's a world but indeed that is not the case and there's all kinds of points of vulnerability. There's a lawsuit right now from his brother-in-law who seems to have taken pictures and giving them the national enquirer from what he it looks like. That's what happened. That's what choirs that happened And I think that's what Jeff Bezos thanks And his sister also thinks that who? Who's dating Jeff Bezos But that that's a weird point of vulnerability that's a strange little side note but this is a real. This is someone who was texting using. What's APP is that correct? Yeah so what happened was When say what's APP and my APP goes you have this magic sound guy so So basically what happened was people might remember that. Nbs did this national tour. He came to the United States like three weeks. He was in Silicon Valley quite a bit exactly went to the values pictures of him with I think with circuit and so he comes to Los Angeles cited to something. I'm like no way I'm going there. Yeah well you know way you could've had this You could have been part of this story. Yeah I was thought though. These people were just anyway so he met with he did meet with you know apart from you. He met with everybody. Save is some events some events as well and you might not have done what. Jeff bezos did which was they. Were to dinner and exchange numbers you know. Nbs and bassist. They're like your top in touch. Yeah and by the way just so limited take them rich people do this all the time they get they get together at these dinners. And it's like I was at one with Jeff Rupert Murdoch and you know all of them back in the day and they all just the socialize. They socialize in this weird. It's strange and weird. But they do that and they do they. They like to contact each other. You know it makes sense right. I need to talk to you about. Saudi Arabia. Might Start Amazon thing just to share of problems too. He's GonNa Talk To. Yeah Yeah so so. They share numbers and and they actually you to do a quick. Hey Hey it's NBS kind of thing. So what happens is about a month later and I can't say that. Mbbs himself sent this right. We know is that video was sent from the account of MBA's to Basil's and this report shows how within hours of the sending of this video. There's this massive spike an exfiltration data from the phone to some unknown location. I mean I should emphasize the report that we got was interim. It's not a conclusive report. It basically says we have medium to high confidence that it was. This vector the use of this video video. Yeah the infected. Jeff Bezos is phone and what they show in this. Frantic analysis is there was a baseline of very little data. Coming out of of bazars. This phone Over time historically right and then suddenly it spiked up like twenty nine thousand percents and you would see these spikes over the course of a couple of months actually over the course of a year leading to one spike that was like four gigabytes And you know bazars didn't use. I cloud backup so there wasn't really another explanation for this other than it being a hack and the taking of information so from our perspective personal. This is his personal phone. I mean I don't know if he used other phones and whatnot. I mean most of these. You know people have many many phones right but this was his personal phone and you know from from our perspective what we do in the UN. We get information that we I. We communicate with the government And which is what we did. We sent a letter to the Saudis. And Said we'RE We've received this information if it's true. This raises really grave concerns about freedom of expression. And you know that we laid out you know the relationship between Bezos and the Washington Post Jamal Kashogi the connections between this particular hack or allegation of a hack and the hacks that have been alleged about the people around Kashogi right so And Jeff is around can show you just for those who owns the Washington Post and there's been a lot of noise because it's been trump has attacked it. Trump is very close to M. B. S. So it's alleged that they're trying to get Jeff bezos in some fashion because they're angry about His his paper his ownership of the paper. Yeah it know exactly. And that's so from our perspective. We're not saying to either. The Saudis ordered the public. We did a public statement about this. We're not saying this is conclusive evidence but there is enough here one that the Saudis have tiresome questions to answer it certainly looks like they targeted bazars and in light of the kind of the entirety of the relationship between basis. And the Post. The Post and Jamal Kashogi the allegations and demonstration of other hacking. We need information but also it's the kind of set of allegations that we regularly go public with because people need to know about the risks now it may ultimately be that. There's some other explanation. I doubt it when you look at the report. And you look at the timeline. It's hard to imagine any other explanation. But we're we're human rights fact finders. Were open to receiving information. But it's really concerning absolutely so swinton. Why why this is important that it's such a bizarre stream events but I think here's the world's richest man being targeted and successfully At some point whatever. They pulled out from the phone Also that everybody's Vulnr- vulnerable and and he has probably the most would assume would have I don't necessarily assume he has the best security but he should for sure and that this is it's as easy as putting video now. What I understand is he didn't even have to watch the video corrected he click on he did not I? You know the report doesn't make it clear. It was a no click right so it just has to be sent exactly so explain how that works. Okay so actually. There's a separate track here. Which is what's APP was vulnerable to exactly this kind of it was basically what's up and facebook. Let's head another wrinkle to it. So here's our WHATSAPP facebook link but there's also an IOS link. I mean basically the vulnerability here which was that..

Jeff bezos Jamal Kashogi Saudi Arabia Crown Prince The Washington Post Nbs Kay He murder UN bazars Amazon Jeff David facebook Bazo professor Jeff Rupert Murdoch Khashoggi national enquirer
"jeff. bezos" Discussed on Fresh Air

Fresh Air

09:45 min | 6 months ago

"jeff. bezos" Discussed on Fresh Air

"What aspects of it but there's also the question is president trump trying to interfere with Amazon for retribution. Because Bezos owns the Washington Post and trump hates the Washington Post and considers it fake news and considered the post publication. That's out to get trump so What do you see happening with? President trump and his allies and Amazon well The Amazon right now is challenging. The fact that they lost ten billion dollar contract they were passed over for it and it was given to Microsoft and their challenges saying that president trump essentially corrupted the process because he doesn't like basis and he's made it clear that he doesn't like Bezos in tweets elsewhere because basis owns the Washington Post. It's one of the craziest wrinkles in the whole story. Which is that you know. Basis bought the post well before trump became president or was a candidate for president but Bezos has ownership of the Washington. Post has made him a target for the president's ire and So it'll be interesting. If for instance the Federal Trade Commission which is independent from the president but still he pointed the chairman there whether they take an enforcement action against Amazon. And that in some way that could be construed as a political act I I would urge caution about that. Think that the FTC is in would probably take that independently but just the mere fact that that could be insinuated because the president doesn't like basis Is makes for a really interesting time right now when it comes to this and what's also interesting. Is that the president raises some valid points about Amazon. You know and and So I think that for some of the critics of Amazon. It's a very strange thing that their criticisms are echoed by president trump. Because those aren't necessarily natural bedfellows. Do you think any of the Democratic candidates have interesting proposals for regulating Amazon. Yes I mean I think Elizabeth Warren has really been at the forefront of thinking through what to do with Amazon and the other big tech companies and really. I mean she before she was even running for president really did open up a conversation About the concentration of power specially monopoly power among the big tech companies and. She's come up as she does with a very detailed proposal but she's also made a deal of the idea that this break them up Which can mean a lot of different things? Essentially what break them up really means though is that to try to limit the lines of business that Amazon can engage in. So for instance Amazon. Is this platform for online commerce. That they themselves are competing on as a store against other stores and retailers. So she has this idea of. Maybe they shouldn't be competing on a platform that they own Maybe they shouldn't be allowed to be doing that because they have an unfair advantage That's in part what break them up means and And so I think it certainly something that Congress is going to be considering And I you know I think some of the other candidates have have been supportive of that idea of breaking them up. Amazon owns so many companies. Jeff Bezos owns the Washington Post Amazon has contracted with the C. I. A. For Cloud Computing Services. They're selling facial recognition services to police departments. I mean Amazon is involved with just about everything and Bazo says big goal is to get into outer space. So let's talk about that for a second. What are his plans when it comes to? Jeff bezos He. He's got to CEO's that are running Amazon and he asked stepped away a bit from the company. I mean he's helping to expand it into India and other places but as we understand it. His primary goal is to focus on his company. Blue origin and blue origin is his space exploration company. It's as rocketship company. And essentially it's the fulfillment of something that has been as lifelong goal and plan which is to as he puts it build the infrastructure to go to space and to make cost effective for us to figure out what to do in space and he claims and I think he's genuine believing this he wants to save planet earth and his whole idea is that he he. He doesn't wants there to be dynamism and growth he believes in capitalism he believes in consumerism. He believes that all of these advancements of energy usage and things that we're doing here are for the better but obviously they're hurting the planet and that we're going to need to look to the heavens essentially to figure out how we can continue to live in a world of dynamism and growth and that inject basis his mind means we may need to move heavy industry into space. We may need to mind other planets or planetary objects for their resources or we may need to actually build space colonies and he is really serious about this well. It's a complicated vision. Because do we want outer space to be owned by a private company? Yeah I think that that's complicated. I think that there are other obviously other Very wealthy people that have their space endeavors have similar things in mind. The way that Beza thinks about it is he's GonNa spend a billion dollars of his own fortune every year. Pump it into blue origin. This company and by the way blue origin is also seeking out a lot of federal contracts to try to do this to send satellites up Contracts with the intelligence community contracts with the department defense contracts with the with NASA Because even the richest person in the world can't fund this himself he he needs the help of the the federal government. Did you change your mind about anything pertaining to Amazon her bezos through the course of doing the documentary Yeah I mean certainly. It's in in the course of reporting this for the past year With my partner on your Borgen Meghan Robertson Who went through every shred of footage of Jeff Bezos over the years To try to kind of see what he was saying as as the company was growing. I mean you you. You can't help but be absolutely astounded by what he's done. I think though one of the things that I it it it just felt for the past year of like okay on one hand. It's amazing because we're all enjoying these inventions you know. Pbs runs on Amazon Web Services. Right and and And I am actually. I am prime member. You know. So you're dealing with all these conflicts as you go along But I think that Franklin four in the film puts it best which is like everything. That's amazing awesome about. Jeff Bezos and Amazon is also something to be feared about Amazon. And Jeff Bezos. And that really at the end of the day You know I think what I was surprised by was just how how complicated. This is the nature of the power that comes with being such a innovator and such an inventor but also how problematic that is that so much power as pooled into the hands of one company and one man James Jacoby. Thank you so much for talking with us. Thank you James. Jacoby spoke with Terry Gross. Yesterday he's the correspondent and director of the new frontline documentary Amazon. Empire the rise and rain of. Jeff bezos it premieres Tuesday on PBS. You can also see it on the PBS VIDEO APP and PBS Dot Org Slash frontline after we take a short break. Ken Tucker will review the new album from singer. Songwriter John Morland. This is fresh air support for NPR. Comes from whyy presenting the pulse? A podcast that takes you on adventures into unexpected corners of health and science plastic in the guts of deep sea creatures crying after anesthesia building. Your own Internet. Each episode is full of fascinating stories and Big Ideas. The pulse available. Where you get your podcasts. Or at W. H. Y. Y. Dot Org. Hi It's Terry Gross inviting you to check out our new online archive collecting forty years of fresh air interviews and reviews. You can hear my interviews with people like David Bowie of Franklin Johnny Cash. John Updike Tony. Morrison searched for names. You're interested in make a playlist for yourself or friends at fresh air archive dot org. That's fresh air archive dot org. John Moreland is a Tulsa Oklahoma based singer songwriter. Who's just released? A new album called L. P. Five moorlands notable fans range from Miranda Lambert to Rachel Maddow moorlands known for Writing Superb sad songs but rock critic. Ken Tucker says this. New Album shows a wider range of emotions.

Amazon Jeff Bezos president Washington Post trump Ken Tucker Pbs Terry Gross bezos Federal Trade Commission Franklin Johnny Cash Microsoft Washington John Updike Elizabeth Warren W. H. Y. Y. Dot Org L. P. Five moorlands James Jacoby NASA
"jeff. bezos" Discussed on Download This Show

Download This Show

03:42 min | 6 months ago

"jeff. bezos" Discussed on Download This Show

"Troll. Because he looks admitted he's listening to it is. You'll go through the week in media technology in culture. We're GONNA ride Johnson Jeremy Kirk and Marc Fennell and Jeremy. You've written a story recently but just to set it up. Can you introduce me to the concept of peekaboo my moments because it's the subject of Sim drama. So it's an APP for android and IOS. Send an APP for baby photo sharing APP and you also can record like milestones with your child like the first time. They walked their wage or their height. And so like I. I think I've universe where you just WanNa share pictures of you with a select group of people. Yeah it's not public post it aside and people just kind of go to it. It's just kind of interest hours down instead of sharing sharable digital people collect. Yeah and it's it was looks like it's pretty well regarded and it's been downloaded many many times and I spoke with a researcher in taxes. Name is Dan. Erlich who found that this company that had developed it had left. A database online was just open. And so you could go to. It contained all the log files every time you kind of open the APP. There's a log file recorded. Has Your device Meta data data email address and some other things such as baby photos and so when you took the euro's out and just plugged them into a browser. Just see baby photos so obviously he. This was pretty alarming. So we Kinda Act we contact the company and said okay. We'll notify them and so I wrote them several times and said hey you've got this database open anybody. Can anybody can access these baby photos. You need to secure it just crickets for days. So I got in touch with the CEOS in American can colleague of his said. Hey can you get in touch with him because this is online he actually got back to me. It was kind of like okay. I'll see if I can pass on the message inch was like okay. This is actually pretty serious. So finally you know after like four or five days were like well. I'm just going to write a story about it and see what that does and so I wrote a story about about it and eight hours later. They took it off line. Funny that when you email them why I'm calling you from data breach today dot com. 'cause I feel like if the guy which by the way is one of the mastheads with National Security Media Group still got it. I feel like if I can email from a guy with data breach today to die dot Com. I listen I read that too so yeah I said I'm a journalist and you know I had I was in touch with the security. Researchers searchers found that. You're exposed all these people's data and yeah you know. Try to make it as explicit as possible. This company was based in China however the founder appeared to be in San Francisco so I mean e mail their support addresses everything else and just nothing so left with no other choice other than publish. We went ahead and did it and then So afterwards got Kinda Kinda Harry. These IOS sort of it started making threats about. I'm going to report you and Dan the researcher to the FBI. I want to help you. Yeah I mean you said he's authorized you've illegally access this information. We'll you've you've left it online. Anybody who types in This I pee address can see it so you know. Go ahead if that's what you WANNA do but we've told you about it you know it's your responsibility. I said you should probably be more worried about the regulators because in Europe for instance and it looks like you have European users. You could be fine up to four percent of your revenue kind of depressing that he wasn't concerned at all about the safety security any of the users of the APP location daughter in from other stuff..

"jeff. bezos" Discussed on The Journal.

The Journal.

10:51 min | 6 months ago

"jeff. bezos" Discussed on The Journal.

"My My name is Dr Alexander Sachs. I'm a psychiatrist. And the host of the Gimblett Podcast Motherhood sessions which is back for a second season each episode. I sit down with women who've come in with a question or a problem and we work on it together. When was the last time you tax? I think it was like two years ago. I just I feel feel like the sexual part of me is just doesn't exist anymore. You can listen to the new season of motherhood sessions for free on spotify or wherever you get your podcast. Welcome back by the end of two thousand eighteen M. BSN Simba's were not on good terms but no one knew the extent of it. Not and tell a personal drama in Betas life brought it to light and there's a person in here at the Journal who's watched it all unfold the head of our investigations team a man named Mike Second Nafi and how most people refer in the newsroom psycho. But again that doesn't have to be chief or boss. I answer to a lot of names I just WanNa. Does he copy. There's a lot of copy that crosses my desk and the recent stories that he's been editing have their genesis in a big announcement. bezos made last year in January of last year basis came out with a tweet announcing that his wife of Twenty Five Years Mackenzie bears as us. And he were divorcing and shortly after that the National Enquirer tabloid paper of record came out with screaming headlines. Talking talking about how the divorce was prompted by an affair. Visas had with Lawrence Sanchez born Sanchez a TV. The anger was married herself at the time. And so what looked to be a major revelation of a personal nature by Bazo. The divorce forest turned within a few hours into a much larger scandal because it involved the national enquirer releasing to the public very embarrassing information about. Jeff Bezos is a fair which led to the divorce and some photographic evidence of this. Yes there were photos and they were texts that the national poorer gotten so. Can you give us a flavor of those texts yell try. This is revanchism. NASA's told Sanchez. I want to smell you. Want to breathe you in. I I want to hold you tight. I WanNa Kiss Your Lips. I Love You I am in love with you and on and on until recently bazo had sort of a geeky reputation in in an interview in two thousand fourteen. He said that doing dishes every night was the sexiest thing he does is. His personal life was certainly kept private for many years and everyone when they focus on days as they talked about the brilliance of his business acumen and handle he founded Amazon and turned it into this monster company that everyone uses. You seem to be a private guy. And it's that private persona that made Bazo says public response after this saga. Perhaps even more surprising about a month later is she can extraordinarily blog post on what's called medium in this. Post bezos wrote quote. It's unavoidable that certain in powerful people who experience Washington Post news coverage will wrongly conclude. I am their enemy. And bezos hinted at two potential enemies. Amis who might be behind the national enquirer Article One the White House which head publicly complained about Washington Post coverage and the other the Saudi Saudi government the connection between Saudi Arabia and the national enquirer might seem surprising but they have a history three. Here's Justin we know that. Prince Muhammad and David Pecker. WHO's the head of the parent company of it's national enquirer had met two thousand seventeen really knew each other and around the two thousand eighteen visit when Muhammad keeps America? You do you choir published Glossy magazine. That was basically I mean. It was almost reminiscence stuff that you'd seen the tabloids Princess Diana was the fawning over the top language. About how amazing Prince. Muhammed is changing Saudi Arabia. One of the world's biggest investors and incredible American ally fighting terrorism and it was this like fawning piece of suck up the national enquirers parent company sources. This is have said. He had talked with the Saudis about funding for the company and in this blog. Post bezos revealed that he thought the national enquirer her was going after him beyond just the one story they'd published. He accused the paper of trying to blackmail him by threatening to release more details about his extramarital title affair. racy photos more texts ones. That would be even more embarrassing if they ever came out to Bezos than what had previously come out things things like according to vases medium post a full length body Selfie of Mr Bazo swearing just a pair of tight black boxer boxer briefs or trunks with his phone in his left hand while wearing his wedding ring or other naked cell fees and the like exactly exactly Bazo said in this medium post that the national enquirer was blackmailing him because they wanted him to stop investigating how they got his texts and why they wanted them. American media The parent company of the National Enquirer denies. There were any political motives behind the report on basis. When you read red basis as medium post what was your reaction to reading that letter? Do you remember. Holy smokes or some variation of that probably in the national enquirer had for many years been trafficking in racy information. But this is the first instance that we were aware of where. You're an executive. Try to get ahead of the inquirer is doing and flip the script on them and put them on the defensive so we knew it was a huge story. We just didn't know how far we'RE GONNA go. Basis is public admission about these photos and texts and his claim blackmail launched a bunch of different investigations and prosecutors reporters and Bezos himself. Were all trying to figure out what happened. Exactly how the national enquirer was able to get a hold of the texts and whether the inquirer was motivated by anything other than juicy tabloid gossip we launched investigation to our team through sources that he spoke with discover that the enquirer had received a number of photos and texts from Michael Sanchez. who was the brother of bezos lover Lawrence Sanchez? And what did our sources say about. Who Michael Sanchez is so Michael? Sanchez wasn't particularly well. No known before this incident as a talent agent and he's managed some television stores in reality show judges but the more important element of this at least as it relates to the inquirer. Is these long. been a source for the Inquirer reporters here at the Journal. Were able to find the contract. Michael Sanchez signed with the national enquirer. There was an agreement. That inquiry came up with Michael Sanchez. Paying the princely sum of two hundred thousand dollars four text photos and others nation that related specifically to the affair that his sister had with just Basil's in that contract Michael Sanchez said he got the text and photographs that legally so that left Mike and his team wondering how exactly did Sanchez. Get those texts and last week on Friday. They found out the photos and the texts. That Michael Sanchez Sanchez. Got were sent to him by none other than his sister learned Sanchez the US Attorney's Office for the Southern District of New York in Manhattan. It is in possession of these texts showing the progression of the text and photos from Lawrence Sanchez to Michael Michael Sanchez to the national enquirer. But wait a minute here. This is his sister. Sent the FOTOS use. These racy photos the text that you read to her brother. Why would she do that? Why don't they anyone could get into Lawrence Sanchez's head and Lauren has not responded to requests that we've made multiple requests for comment at the time she was married? Jeff Bezos was married so people could speculate about witter. Antennas were what the effect was that it did trigger or seem to trigger bezos to get a divorce from his wife and now Lauren Sanchez. And Jeff Bezos. Those are a couple Michael. Sanchez declined to comment on the texts or his contract. With American media in a statement he said quote with Spoon Fed lies and half-truths The Wall Street Journal keeps getting it wrong. Lawrence Sanchez didn't respond to requests for comment. And an attorney for Jeff bezos declined to comment. There's one aspect of the text revelations that Justin says is unresolved. There's this little space is in there. which is that? It's still unclear how the inquirer was first tipped off about the affair. The Inquirer said they were tipped off to the affair. It advance of getting the stuff from the brother and we don't know how they were tipped off last week. A report that was commissioned by Basil's came out it looked into the possible hacking his phone and that report concluded that Saudi Arabia likely hacked into his iphone through that video message sent in May of twenty eighteen to United Nations officials reviewed the report and said that those was likely hacked by Saudi Arabia In an attempt to influence how the Washington Post was covering the country but especially too many cybersecurity experts. The report wasn't complete. Nobody's found the malware on the phone. There's big gaps here. So there are all these speculative reasons why something might be true or something might have happened but there still remains the fact that nobody's found the alleged piece of militia software. The report also doesn't say what sort of things if any were taken off off of Bazo says phone by the Saudis. The questions. It's around the is there any nexus between what they believe. Saudi Arabia did what came out in the acquirer. We're not sure shore..

Lawrence Sanchez National Enquirer Jeff Bezos Michael Sanchez Sanchez Saudi Arabia bezos Mr Bazo Sanchez Lauren Sanchez Washington Post The Inquirer Dr Alexander Sachs Mike Second Nafi spotify Saudi Saudi government Michael Justin Basil WanNa Muhammad
"jeff. bezos" Discussed on The Journal.

The Journal.

04:20 min | 6 months ago

"jeff. bezos" Discussed on The Journal.

"Things weren't weren't always so complicated between Bazo in Saudi Arabia. Actually for a few years basis and the Crown Prince of Saudi Arabia Mohammad bin Salman seemed to be friends. The two met in two thousand sixteen. When bezos took a business trip to the country looking to see what opportunities there might be Amazon and the crown prince saw so the potential benefits of being friends with him if Mohammed bin Salman could form a public relationship with basis where they were seen together and they were seen as in the same universe I mean Mohammed could make himself like he's the kind of guy travels in the same services? Jeff bezos. It would help him and it would help his stature at home and abroad. This is Justin check. He covers finance. He's especially been focused on Saudi Arabia and Mohammed bin Salman New Vision for the country Mohammed bin. Some on early on he identified Amazon is company that he wanted to establish itself in Saudi Arabia. To help boost settier profile and economy and make it more of the country he admissions has planned out a five hundred billion dollar brand new city to be built from scratch and the idea was that it was going to be center for Innovation and they identified a number of anchor companies. They wanted to come there early on with the Greek government incentives the government paid billions dollars. Free land free ranked in all sorts of other incentives to bring them there to start creating jobs and to create innovative new. Corporate structures and Amazon was one of them. And do we have any sense of whether Bezos was on board with that plant the Prince and bazars personally discussed various plans to bring Amazon specifically Amazon web services to Saudi Arabia. They were talking about a deal where Amazon invested its own money. Maybe a billion dollars more of its own money building data centers in Saudi Arabia turning into a regional hub. which would have been a brand new thing for the kingdom and would have added a level of legitimacy in the business world world? Hadn't really had Bazo hasn't commented on his relationship with the Saudis and representatives for the Saudi government also declined to to comment as did an Amazon spokesperson but Justin and his colleagues spoke to people on both sides of the agreement and they said this deal was an exciting thing for for basis and Mohammed bin. Salman those sources say that the two men continued to discuss the agreement from afar her and then in the spring of two thousand eighteen. The prince took a trip. The kicked off a series of events. That would eventually call this relationship into question. Mohammed bin Salman to the United States for three weeks in a big splashy campaign to change American perceptions about the conservative and oppressive kingdom the Crown Prince of Saudi Arabia is poised to take Hollywood by storm later today. Reportedly set to meet with heavyweights rupert. Murdoch and Bob Iger among long others Warwick tour. You went to starbucks the Michael Bloomberg net everyone from President Trump to Oprah Winfrey to Richard Branson Prince was and did. TC Jeff bezos he's charged in La. They had dinner at the dinner in Los Angeles on April fourth. Two thousand eighteen. The Prince and basis exchanged contact information so basis phone and just sent a message to the prince said hello. NBS NBS's Muhammad Awesome on and Muhammad replied. Say Hello I saved the number Mohammed Bin Soman and for context the Prince. Is it extremely busy person. Listen and he stays up all night and I don't think he sleeps very much and he is. What's that messaging with a lot of people all over the world seemingly all the time and so it wasn't really unusual that he and basis would have changed? What some numbers and they would then send messages back and forth? It's in keeping with the way the prince does things after. They exchanged numbers burs on. What's APP bezos became one of the people? NBA stayed up late at night messaging. According to Justin sources. They discuss business over what's APP. And then Bezos got another message from MBA's WHATSAPP account.

Jeff bezos Saudi Arabia Mohammed bin Salman Amazon Richard Branson Prince Mohammad bin Salman Mohammed Mohammed Bin Soman Mohammed bin Salman Justin Saudi government NBA Los Angeles starbucks Michael Bloomberg rupert Bazo Bob Iger United States
"jeff. bezos" Discussed on The Small Business Radio Show

The Small Business Radio Show

05:56 min | 8 months ago

"jeff. bezos" Discussed on The Small Business Radio Show

"Percent of what you would like to know and he says you can disagree agree with the decision but somebody has to make the decision and and they default to action. So the concept here is I disagree with the concision does the decision. I don't think you are going to be correct however we need to move forward so disagree with it but I fully commit to supporting you and I hope hope I'm wrong. Natural very interesting mindset and allows M.'s on to move quickly and I think that's one of the keys to to their success also small business. It's great to have disagreement but when the decision is finally made by the leader everyone's got to support it and too many times people people continue on. There's folks inside your company that are still undermine decision or yapping about yeah exactly and that just undermines culture. It undermines the learning process process. It undermines helping the customer. And that's what they are trying to do away with Amazon now and I'm sure there's still some of course. Of course you know the the the the culture is yes. We disagree but let's move forward another one leaves you principles you talk about is paid to quit. What does that mean? So at Amazon. And this is primarily in their fulfillment center so they have about two hundred and fifty thousand employees in their warehouses fulfilment centers and they have ever program called. Pay to quit. And this is the ability or the Amazon giving an employee who literally early doesn't like it and doesn't want to be there the option to take money and quit and so after the first year and every year up to five years they they are offered starting with a thousand dollars maximizing at five thousand cash incentive to quit. And it's what they brought over from ZAPPA's when they acquired zappa's in Mid-2000s Zappa's has a very similar program. And the idea here is you know if you don't like it Amazon if this is not the right place for you we don't want you to be here either and it gives An employee a an out now now. The downside is that employees will never work at Amazon again. You know so. It's an intentional decision. Process there but I think it speaks to their their customer obsession but also there Mindset around helping their employees as much as they can and I think that this really does work because think about it the employees. That's GonNa take a thousand dollars or two thousand dollars or three thousand. That's their job Steve. You really don't want them there anyways. Correct and it really is a positive way to weed out the people who really shouldn't be there maybe in the first place. So here's my question. Why haven't you met? Jeff bezos yet. You wrote this book on. His principal is philosophy guide. I know well and and part of it. The two the reasons I've tried a little bit to get in. It's obviously very hard to get in to see him and to my viewpoint was I'm just like any other business owner out there. I read the letters. I didn't have any inside information. This literally is information. That's available to anybody. I just happened to be able to recognize the value in it and bring it together in what I hope is a certainly a readable and very consumable book that can apply to any business but I would think that it's very favorable and his leadership style. So we'd say yes Steve. Come on in. Let's have coffee. Well I I ah. I still am working on doing that so hopefully that'll happen sometime soon. So for two thousand nine hundred ninety nine. When is the letter do so? The in two thousand nineteen ladder will be released. Generally around early April. So the the the SEC filing their ten K which is their annual we'll filing for public companies Is usually filed by. I think it has to be followed by late. March and then the shareholder letter comes out a few weeks after that traditionally. It's been in early to mid April now. I don't know of bezos listening to this radio. Show but there's always hope but I am a prediction here. Steve I think than two thousand nineteen letter. He's going to mention you. You and thank you for writing the book. The bees letters fourteen principles to grow Your Business Amazon. What do you think I would be thrilled and if you did that? It certainly would be a nice endorsement that I would absolutely make sure people understood and read. So and what are we talking about back cover. We're talking about front cover of the book absolutely no question about it so we're can be redesigned the front cover We redesign anyway. So where can people get a copy of the book and also get in touch with you. Well the book is available wherever people By their books whatever their favorite bookstore is either online. Obviously it's at Amazon and Barnes and noble and some of the others and also local bookstores may carry it. They if they don't have it in stock they can certainly order it and then for those that By the book there's some additional material. We put together together to help with the fourteen principles and how to apply them. Those are available at the website. The BAZO SLEDDERS DOT COM now. If you redesigned on the cover of the book if he gives you a quote maybe you'll show the front of his face rather than the back of his head. Exactly yes there was a little copyright discussion around how to how to manage alleged. Sure I'm sure so you know. It also is an intriguing cover and that was part of the discussion is getting people to look at the cover and kind of question and pick up the books. So hopefully that has worked. Well Steve Thanks for joining us as AMA twenty w cpt in Chicago. We'll.

Amazon Steve Jeff bezos ZAPPA zappa M. SEC business owner Chicago principal AMA Barnes
"jeff. bezos" Discussed on The Small Business Radio Show

The Small Business Radio Show

05:56 min | 8 months ago

"jeff. bezos" Discussed on The Small Business Radio Show

"Percent of what you would like to know and he says you can disagree agree with the decision but somebody has to make the decision and and they default to action. So the concept here is I disagree with the concision does the decision. I don't think you are going to be correct however we need to move forward so disagree with it but I fully commit to supporting you and I hope hope I'm wrong. Natural very interesting mindset and allows M.'s on to move quickly and I think that's one of the keys to to their success also small business. It's great to have disagreement but when the decision is finally made by the leader everyone's got to support it and too many times people people continue on. There's folks inside your company that are still undermine decision or yapping about yeah exactly and that just undermines culture. It undermines the learning process process. It undermines helping the customer. And that's what they are trying to do away with Amazon now and I'm sure there's still some of course. Of course you know the the the the culture is yes. We disagree but let's move forward another one leaves you principles you talk about is paid to quit. What does that mean? So at Amazon. And this is primarily in their fulfillment center so they have about two hundred and fifty thousand employees in their warehouses fulfillment centers and they have ever program called. Pay to quit. And this is the ability or the Amazon giving an employee who literally early doesn't like it and doesn't want to be there the option to take money and quit and so after the first year and every year up to five years they they are offered starting with a thousand dollars maximizing at five thousand cash incentive to quit. And it's what they brought over from ZAPPA's when they acquired ZAPPA's in mid two thousands ZAPPA's has a very similar program. And the idea here. Is You know if you don't like it Amazon. If this is not the right place for you we don't want you to be here either and it gives An employee a an out now now. The downside is that employees will never work at Amazon again. You know so. It's an intentional decision. Process there but I think it speaks to their their customer obsession but also there Mindset around helping their employees as much as they can and I think that this really does work because think about it the employees. That's GonNa take a thousand dollars or two thousand dollars or three thousand. That's their job Steve. You really don't want them there anyways. Correct and it really is a positive way to weed out the people who really shouldn't be there maybe in the first place. So here's my question. Why haven't you met? Jeff bezos yet. You wrote this book on his principle and philosophy guide. I know well and and part of it. The two the reasons I've tried a little bit to get in. It's obviously very hard to get in to see him and to my viewpoint was I'm just like any other business owner out there. I read the letters. I didn't have any inside information. This literally is information. That's available to anybody. I just happened to be able to recognize the value in it and bring it together in what I hope is a certainly a readable and very consumable book that can apply to any business but I would think that it's very favorable and his leadership style. So we'd say yes Steve. Come on in. Let's have coffee. Well I I ah. I still am working on doing that so hopefully that'll happen sometime soon. So for two thousand nine hundred ninety nine. When is the letter do so? The in two thousand nineteen ladder will be released. Generally around early April. So the the the SEC filing their ten K which is their annual we'll filing for public companies Is usually filed by. I think it has to be followed by late. March and then the shareholder letter comes out a few weeks after that traditionally. It's been in early to mid April now. I don't know of bezos listening to this radio. Show but there's always hope but I am a prediction here. Steve I think than two thousand nineteen letter. He's going to mention you. You and thank you for writing the book. The bees letters fourteen principles to grow Your Business Amazon. What do you think I would be thrilled and if you did that? It certainly would be a nice endorsement that I would absolutely make sure people understood and read. So and what are we talking about back cover. We're talking about front cover of the book absolutely no question about it so we're can be redesigned the front cover We redesign anyway. So where can people get a copy of the book and also get in touch with you. Well the book is available wherever people By their books whatever their favorite bookstore is either online. Obviously it's at Amazon and Barnes and noble and some of the others and also local bookstores may carry it. They if they don't have it in stock they can certainly order it and then for those that By the book there's some additional material. We put together together to help with the fourteen principles and how to apply them. Those are available at the website. The BAZO SLEDDERS DOT COM now. If you redesigned on the cover of the book if he gives you a quote maybe you'll show the front of his face rather than the back of his head. Exactly yes there was a little copyright discussion around how to how to manage alleged. Sure I'm sure so you know. It also is an intriguing cover and that was part of the discussion is getting people to look at the cover and kind of question and pick up the books. So hopefully that has worked. Well Steve Thanks for joining us as AMA twenty w cpt in Chicago. We'll.

Amazon Steve Jeff bezos ZAPPA M. business owner SEC Chicago AMA Barnes
"jeff. bezos" Discussed on The Small Business Radio Show

The Small Business Radio Show

10:00 min | 8 months ago

"jeff. bezos" Discussed on The Small Business Radio Show

"Get ready for all the craziness of small business. It's exactly that craziness that makes it exciting and totally unbelievable small business radio is now on the air with your host. Mary molds well. Thanks for joining this week's radio show remember. This is your final word in small business for those just keeping track. This is now happy holiday show number five hundred sixty four. This episode of course is provided by Nick. Stephe the all in one communications occasions platform for your small business. It's also sponsored by Lincoln. The place to generate leads drive traffic and build brand awareness for a free one hundred dollar credit to launch. Aren't your campaign go to. WWW dot lincoln dot com slash SB are. It's those supported by e file for Biz the easiest way to process print and mail your ten ninety nine W. twos business go to www dot e foul Biz dot com. It's also sponsored by visa. All you need to run your business on one software software go for a free fourteen day trial at. WWW dot v. seat dot com that's VCI DOT com. It's also sponsored by blue summit supplies the place to get your ten ninety nine and W to tax go. Blue summit supplies dot com slash. SB are for ten percent off. Well L. Every small business has dream to build the next Amazon. But what can you learn from the way CEO. Jeff bezos actually succeeded. My next gases Steve Anderson who was invited to be one of the original one hundred fifty thought leaders and influencers on linked in with over three hundred thousand followers. He's got a new book lookout. Called the bezos letters. Fourteen principles to grow your business like Amazon Steve. Welcome to the show very. Thanks for having me. So how did you get interested in. Really focusing on Steve Visas Success I was looking. I've been in the insurance industry In most of my career And spending the last twenty years looking at technology and its impact on insurance agents and brokers and I realized that with technology developing his rapidly as it is that the biggest risk of business faces maybe actually not taking enough risk so very counter intuitive and I began researching businesses that were successfully doing it and businesses. That weren't that led me to Amazon as perhaps one of the better examples of risk taking and successfully doing it And then the shareholder letters and realized that Bazo said at literally laid out hidden in plain sight his plan for growing Amazon. What it is today? And that's what that's the most interesting part about your book because you say. He laid out in plain sight in his shareholders letter. What kind of insight did he give these public letters? Well all kinds I actually in the book came up with What I call fourteen principles to to grow your business like Amazon and he? He talked about all kinds of things in ways that he thinks and and how he used those ideas to build Amazon so as an example the first principle is called encouraged successful failure. Well bazo understand From the very beginning a correlation between experimenting inventing and Innovation and. I actually think that's where a lot of people get it wrong. But he says in the letters that an experiment actually means. You're going to fail because if it doesn't mean that it's not an experience exactly right and so. He has built a culture at Amazon. That actually really encourages people to experiment and knowing that they are going to have some failures but the question is what are we learn earn from those failures and if and even in his two thousand eighteen letter the last letter he goes on to say if at Amazon. We're not growing growing the size of our failures to scale with our company. Then we're not going to move the needle enough so we need to have billion dollar failures which for most business owners is just still for me saying it. It's a hard concept to grasp so Steve. What do you think that Jeff Lay these things? Out in shareholder letters because traditionally these things are pretty dry and have to be very careful about what they say vis-a-vis their share price in nodding towards what direction the company company is. Because it can you know it can be dangerous. Yeah absolutely and Frankly I haven't met him yet and one of my questions is exactly that that and I think I mean there's a there's a small handful of CEO shareholder letters like as those certainly Warren Buffett. Is You know one of the historic examples of people waiting for his letters to come out because of what's in it. I think once people realize what's in the letters that Bazo says written they will have that same anticipation and so I'm actually. I am surprised as is that was one of my biggest surprise and actually reading through all the letters is how much of his philosophy And and really tactical practical health that he puts in those letters and again I don't think most businesses are going to be in another Amazon on but it's hard to argue with their success and the question I had was are there things. Any business can learn from their success. So you Outline these leadership principles that are in these shareholders forms. One of them you talk about is the six page memo called. Believe it's always day one what they try to explain there so the concept of of day one again is core and it started in the very first letter in Nineteen ninety-seven and it. It really is a mindset at Amazon and Basil's continues to push this idea that even as big as Amazon was on is today And in fact I can I can go to the two thousand eighteen ladder and he ends the letters and he's done in this now for ten twelve thirteen years with a phrase similar to this as always I attach a copy of our original nineteen ninety any seven letter it remains day one and it says idea that as they walk into their office this morning. Do you have the same excitement as that. First you were in business and maybe one of the best ways to explain day one is to actually talk about what he basically says says about day to then he talks about this in two thousand sixteen ladder because he was asked at a all hands employee meeting. Jeff what is day to look. Look like. Here's what he said. Day to stasis followed by your relevance followed by excruciating painful decline followed by like death and that is why it's always day once the con- The contrast is I mean you can point to Kodak and blackberry and blockbuster and maybe sears and right right and and it could take years for that declined to happen but if you don't have that startup mindset that day one mindset you're gonNA move and in fact he says Amazon's GonNa go bankrupt someday. My job is to move that as far into the future as possible and Dan. That's part of that day one mentality you know. It's it's very difficult because I think that when you have some success as a small business somewhere along the line fine you start running your business or you play not to lose. It's very difficult to continue to risk it all every single day the way. That bezos is really talking about. I I absolutely agree with that. In fact one of the phrases that I use is that the biggest risk a successful business faces is being being successful because what happens is that mindset as you very well said start shifting to protecting what got us. They're not looking forward to. What else do we need to do? What else do we end? This is a phrase. What else do we need to invent on behalf of our customers customers so another one parts of his letters is you talk about disagree and commit and I thought that was very interesting because I believe those two things really are in contrast with each other? Yeah absolutely and again that revolves around the decision. Making uncrossed at Amazon and one of the growth principles is Generate high-velocity decisions. So here's how bays US describes that ask businesses face two types of decisions. What he calls type one type two type? One decisions are big decisions kind of bet. The farm And they should take time and lots of data and be very intentional type. Two decisions are decisions that can be made quickly and Dan as again. He describes his decisions that can be reversed. If you move forward and don't like what you see one of the problems he says this is as a company grows. Their decision process tends to move to type one for most decisions and in a way from type two. And that's where the concept of disagree in commit comes from. He says one type decisions you should make decisions with at most seventy.

Amazon Jeff bezos Bazo Steve Anderson CEO one communications Dan Lincoln Nick Mary US Warren Buffett Kodak blockbuster Basil sears
"jeff. bezos" Discussed on The Small Business Radio Show

The Small Business Radio Show

10:00 min | 8 months ago

"jeff. bezos" Discussed on The Small Business Radio Show

"Get ready for all the craziness of small business. It's exactly that craziness that makes it exciting and totally unbelievable small business radio is now on the air with your host. Mary molds well. Thanks for joining this week's radio show remember. This is your final word in small business for those just keeping track. This is now happy holiday show number five hundred sixty four. This episode of course is provided by Nick. Stephe the all in one communications occasions platform for your small business. It's also sponsored by Lincoln. The place to generate leads drive traffic and build brand awareness for a free one hundred dollar credit to launch. Aren't your campaign go to. WWW dot lincoln dot com slash SB are. It's those supported by e file for Biz the easiest way to process print and mail your ten ninety nine W. twos business go to www dot e foul Biz dot com. It's also sponsored by visa. All you need to run your business on one software software go for a free fourteen day trial at. WWW dot v. seat dot com that's VCI DOT com. It's also sponsored by blue summit supplies the place to get your ten ninety nine and W to tax go. Blue summit supplies dot com slash. SB are for ten percent off. Well L. Every small business has dream to build the next Amazon. But what can you learn from the way CEO. Jeff bezos actually succeeded. My next gases Steve Anderson who was invited to be one of the original one hundred fifty thought leaders and influencers on linked in with over three hundred thousand followers. He's got a new book lookout. Called the bezos letters. Fourteen principles to grow your business like Amazon Steve. Welcome to the show very. Thanks for having me. So how did you get interested in. Really focusing on Steve Visas Success I was looking. I've been in the insurance industry In most of my career And spending the last twenty years looking at technology and its impact on insurance agents and brokers and I realized that with technology developing his rapidly as it is that the biggest risk of business faces maybe actually not taking enough risk so very counter intuitive and I began researching businesses that were successfully doing it and businesses. That weren't that led me to Amazon as perhaps one of the better examples of risk taking and successfully doing it And then the shareholder letters and realized that Bazo said at literally laid out hidden in plain sight his plan for growing Amazon. What it is today? And that's what that's the most interesting part about your book because you say. He laid out in plain sight in his shareholders letter. What kind of insight did he give these public letters? Well all kinds I actually in the book came up with What I call fourteen principles to to grow your business like Amazon and he? He talked about all kinds of things in ways that he thinks and and how he used those ideas to build Amazon so as an example the first principle is called encouraged successful failure. Well bazo understand From the very beginning a correlation between experimenting inventing and Innovation and. I actually think that's where a lot of people get it wrong. But he says in the letters that an experiment actually means. You're going to fail because if it doesn't mean that it's not an experience exactly right and so. He has built a culture at Amazon. That actually really encourages people to experiment and knowing that they are going to have some failures but the question is what are we learn earn from those failures and if and even in his two thousand eighteen letter the last letter he goes on to say if at Amazon. We're not growing growing the size of our failures to scale with our company. Then we're not going to move the needle enough so we need to have billion dollar failures which for most business owners is just still for me saying it. It's a hard concept to grasp so Steve. What do you think that Jeff Lay these things? Out in shareholder letters because traditionally these things are pretty dry and have to be very careful about what they say vis-a-vis their share price in nodding towards what direction the company company is. Because it can you know it can be dangerous. Yeah absolutely and Frankly I haven't met him yet and one of my questions is exactly that that and I think I mean there's a there's a small handful of CEO shareholder letters like as those certainly Warren Buffett. Is You know one of the historic examples of people waiting for his letters to come out because of what's in it. I think once people realize what's in the letters that Bazo says written they will have that same anticipation and so I'm actually. I am surprised as is that was one of my biggest surprise and actually reading through all the letters is how much of his philosophy And and really tactical practical health that he puts in those letters and again I don't think most businesses are going to be in another Amazon on but it's hard to argue with their success and the question I had was are there things. Any business can learn from their success. So you Outline these leadership principles that are in these shareholders forms. One of them you talk about is the six page memo called. Believe it's always day one what they try to explain there so the concept of of day one again is core and it started in the very first letter in Nineteen ninety-seven and it. It really is a mindset at Amazon and Basil's continues to push this idea that even as big as Amazon was on is today And in fact I can I can go to the two thousand eighteen ladder and he ends the letters and he's done in this now for ten twelve thirteen years with a phrase similar to this as always I attach a copy of our original nineteen ninety any seven letter it remains day one and it says idea that as they walk into their office this morning. Do you have the same excitement as that. First you were in business and maybe one of the best ways to explain day one is to actually talk about what he basically says says about day to then he talks about this in two thousand sixteen ladder because he was asked at a all hands employee meeting. Jeff what is day to look. Look like. Here's what he said. Day to stasis followed by your relevance followed by excruciating painful decline followed by like death and that is why it's always day once the con- The contrast is I mean you can point to Kodak and blackberry and blockbuster and maybe sears and right right and and it could take years for that declined to happen but if you don't have that startup mindset that day one mindset you're gonNA move and in fact he says Amazon's GonNa go bankrupt someday. My job is to move that as far into the future as possible and Dan. That's part of that day one mentality you know. It's it's very difficult because I think that when you have some success as a small business somewhere along the line fine you start running your business or you play not to lose. It's very difficult to continue to risk it all every single day the way. That bezos is really talking about. I I absolutely agree with that. In fact one of the phrases that I use is that the biggest risk a successful business faces is being being successful because what happens is that mindset as you very well said start shifting to protecting what got us. They're not looking forward to. What else do we need to do? What else do we end? This is a phrase. What else do we need to invent on behalf of our customers customers so another one parts of his letters is you talk about disagree and commit and I thought that was very interesting because I believe those two things really are in contrast with each other? Yeah absolutely and again that revolves around the decision. Making uncrossed at Amazon and one of the growth principles is Generate high-velocity decisions. So here's how bays US describes that ask businesses face two types of decisions. What he calls type one type two type? One decisions are big decisions kind of bet. The farm And they should take time and lots of data and be very intentional type. Two decisions are decisions that can be made quickly and Dan as again. He describes his decisions that can be reversed. If you move forward and don't like what you see one of the problems he says this is as a company grows. Their decision process tends to move to type one for most decisions and in a way from type two. And that's where the concept of disagree in commit comes from. He says one type decisions you should make decisions with at most seventy.

Amazon Jeff bezos Bazo Steve Anderson CEO one communications Dan Lincoln Nick Mary US Warren Buffett Kodak blockbuster Basil sears
"jeff. bezos" Discussed on SPACE NEWS POD

SPACE NEWS POD

03:51 min | 1 year ago

"jeff. bezos" Discussed on SPACE NEWS POD

"Jeopardy's Osas, basically, the most wealthy person ever. You know he runs. Amazon also runs blue origin. Blue origin, is a company that they make rockets. They also make moon Landers. Now, you know they've been working on that for a little while they're also making a crew capsule. And in jeopardy's those regarding Mars show this coming up this conference, he talks about some things, it's not only about space, some of the stuff that they talk about is about artificial intelligence machine. Learning robotics automation. And since Jeff owns Amazon, all of these things are super important to him what not only to him, but his businesses Amazon makes ungodly amounts of money. And they have to find ways to streamline that process. So Jeff will be speaking and other speakers will also be speaking about the importance of machine learning in the way that it will be optimizing businesses in the future. Now, Jeff said in a statement, we're at the beginning of a golden age of AI. Recent advancements have already led to invention that previously lived in the realm of science fiction. And we've only scratched the surface of what's possible. So be ready for a lot of AI talk at this conference, and there will also be special guest in that special guest will be iron man, Robert Downey junior. I have no idea what he's going to be doing there. But he'll be there too. Probably talk about the I, maybe he'll talk about iron man, and how he became a hero to millions of people worldwide. And Amazon does a lot of AI stuff already. So this shouldn't be news to anybody. They have AWS, which is their servers Amazon, web services, they can host websites. They do a lot of things for apps. They host some of the biggest websites and apps in the world. So they're competing with Microsoft, and Google IBM in others who provide similar services, and they're going to be talking about innovation and interactive workshops, they'll be doing robotic demos. There's going to be a hundred sessions here and it's invite only so you have to be cool in order to get any to have like some sort of clout to get into this

Jeff Bezos Amazon Las Vegas Robert Downey Microsoft IBM Google twenty seconds
"jeff. bezos" Discussed on Slaypedia: "The WallStreet Chick"

Slaypedia: "The WallStreet Chick"

04:57 min | 2 years ago

"jeff. bezos" Discussed on Slaypedia: "The WallStreet Chick"

"A share. What I wake up every morning is something that I created that I call my wall of mentors in my bedroom. I have five huge sticky notes on my wall. Aw One of each is someone I admire and identify with in business. The Wall capture some of their positive affirmations unbel- beginnings views on failure in positive quotes about mindset. Is the first thing I see in the morning to not only set my thoughts and my goals into my mind for the day but to stay in control of my mindset. That's how serious I am about owning my space. One of the people on that wall that I will discuss today. Is someone who I have actually been following for quite some time now. And it's Jeff Bezos. Jeff bezos founder and chief of Amazon has a net worth of one hundred fifteen point four billion dollars. He became the richest man the world in late. October of two thousand seventeen but the beauty of his start isn't a rags to riches story. He actually left a very lucrative and cush job on Wall Street to start the company. His idea was good but left. Many people confused as to why he of all people would leave his software engineering job on Wall Street to start a business business. His boss even told him. That's a good idea but you have a good job. I love story because following purpose and chasing destiny isn't always about being rich are making money. It's about responding to something deep inside of you. That idea that keeps you up at night. That what if that keeps ringing through your head. He did not start the company because he needed money are even wanting more money. He started it because he believed in the idea to open doors and those doors ended up opening other doors that he he didn't even imagine for Amazon. Amazon's motto is now we sell everything from A to Z.. It was the purpose that drove him. In the words of Jeff Basil's I didn't think I'd regret trying and failing and I suspect it. I always be haunted by decision to not try it. All Joyce Meyer's just recently visited my church and she says something that really struck a chord with me. She said this. I'm willing to risk it all to see if I'm right. That is your hunch that intuition into wishing people who follow that may experience failure after failure and even moments that your idea makes you feel unsure but that failure ultimately contributes needs to you birthing something even bigger than you can imagine. Look at it this way. You could be running into failure after failure because you're just not thinking big enough after much. Research urge constantly reading about his big. As accomplishments in Wall Street Journal and Business Week I have combined and created a three step formula for you to carry on your journey. We consider this. This is advice from the richest man in the world. So take notes. First thing we're GONNA go over is Jeff Bezos way of thinking. He said this forward thinking requires you to plan things out realistically and rationally. It also causes you to seize the moment. Basil's took a few days to consider that advice and he tried to mental exercise. He said he realized the best way to think about it was to project his life forward to age eighty that way he can make make a decision that minimized his grants Bazo said. It became obvious that he would leave his job to start Amazon. If it failed I would be very proud of myself itself when I reach age. Eighty that I at least try. This is what he said with the article interview with Tech Crunch so before you put someone in that hero are Shiro space space. You should aspire to be a person that inspires you. It's so easy for people to post these messages on social media. And say for yourself being your own boss entrepreneurship ship this or that however truth be told. That's actually a very scary and daunting thing to do. So instead of taking the advice of strangers who tell you to jump in later take the advice from the richest man in the world. Take time to think rationalize really think. Take time to pray researcher market. You know how passionate I About researching your market if you follow me not sizing up your market and Understanding Trans to use that information to plan effectively can lead to a horrible startups and even huge successful companies. Coming to an ultimate end. Just look at us so ask yourself this. What would your eighty year all self say to you now. What kind of person do you want to become and most important. What type of legacy do you want to leave behind the second point. I want to go over his. Don't forsake the the struggle. This is where he actually captured my attention leaving a comfortable job on Wall Street to launch an unpredictable businesses. Something that many would not do. But it's that very risk that allow Jeff bezos to become a billionaire and founder of Amazon at a summit series in Los Angeles. Bazo sat down with his brother. Mark Talk Talk about his journey to entrepreneurship and the factors that influenced his success. It's easy to be inspired by a person who is a billionaire..

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"jeff. bezos" Discussed on The World Transformed

The World Transformed

02:20 min | 3 years ago

"jeff. bezos" Discussed on The World Transformed

"Motivating idea for coming up this whole approach to an increase in the book is that two amazon to the no extensions of that basic bookstore idea a jeff bezos as a citizen unique problem when he calls money well he bought all food i don't know but meant that entity gets more money i don't know it's a good question yet worthwhile baqi by washington oh sorry everybody online mealy starter reagan in the walk obn jeff bezos bog right now of washington post famously lose money sodas new york times interview hills also dhs will use a profitmaking operation in anyone how that will be affected he becomes incorporated zuhdi amazon or corporate structure is an unknown it will its profitability one no doubt decrease in increase variably over over time do do all variety of influences some of which just won't be able to control directly eur respond to but uh essentially uh he's gonna have to continue to expand amazon in areas that have nothing to do so many books in order just to find a place to stash is money and is only going to get worse and worse so i did didn't recent talk like uh it could have a problem i don't know why you're laughing stephen what's to this man gonna do with all his money okay this is well well you are um you know ah well as obviously losing sleep at night thinking about what what is a janitor with his money so tell us actively i'm i'm a spinning my waiting you'll bore flawlessly time dreaming up ways to forget to spend this money to help him yeah absolutely hearing so yes it'll also again donen bob jim zona me just to be on your right of course all anyway so he's going after the i just say find your saturday urged coming about amazon formally.

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"jeff. bezos" Discussed on The World Transformed

The World Transformed

01:51 min | 3 years ago

"jeff. bezos" Discussed on The World Transformed

"In some ways the most kind of offbeat i think entry one of the most offbeat entries in our whole book your your essay was entitled to let me just let me read the name of it because i just love this your essay was go i'm i got the book mark stuck in the wrong place but basically was called get jeff bezos to hire humanity did i did i say that rape was at the name of it was posed as a question how jeff bezos can hire humanity okay there you go all right fair enough you know so i i think if the only if the only one we have that uh that mentioned a living person by name and uh the only one that uh talked about putting humanity to work yeah asked japan's oda to hire remand here it is not a okay so will explain how can uh how can jeff bezos uh higher humanity what does that mean well he could go around door off saw a job the robbery i can only be it would be a he's really gonna need to know of your life extension of that however he has the perfect platform to contact virtually anybody virtually where i am lunda com course now he's already demonstrated a willingness to go just not sowing of books um there's reasons talk of law him being number one on the who's got the most money list well he in eight men said now that he is the richest man of world that he's path bill gates and object jeff bezos is now number four that is true right the friend we'll be right i mean like yeah that's as it with on last week or so right yet early reason so that brings up i have a problem i was strategically foreseen back lifers this was kind of yet the.

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