36 Burst results for "Mark Zuckerberg"
A highlight from SEC GARY GENSLER DELAYS BLACKROCK BITCOIN ETF, ETH FUTURES ETF APPROVED, RIPPLE FORTRESS, PAYPAL CRYPTO PATENTS
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, I want to start off with big news from the SEC. They have delayed a bunch of Bitcoin spot ETF applications, and the applications includes BlackRock's, Bitwise and some others. So not denials, but delays. So corrupt scumbag regulator Gary Gensler continues his clown show. We know he has approved futures ETFs, and in fact, we got news that Valkyrie got their approval for an Ethereum futures ETF. So why is he approving these futures ETFs without hesitation? Because, folks, they can be used to manipulate the market and drive the price down, right? It allows for folks to short the market. And that's why a Bitcoin futures ETF was approved, multiple Bitcoin futures ETF were approved over the years. And yet the SEC kept denying spot ETF approvals. And we know in the Grayscale lawsuit, the three judges said the SEC was arbitrary and Bitcoin spot ETF. So we have to keep putting the pressure. Again, we have a delay here and I think we can expect more delays, right? Until Gary starts feeling the pressure and we saw members of Congress send letters to Gary asking him to approve the Bitcoin spot ETF and highlighting the Grayscale lawsuit. So I think eventually the pressure will be on him where he's going to have to do this. And in one way, in one way, this is a good thing that it's not getting approved now, because in my opinion, I believe the Fed is going to continue to raise rates till the end of the year. And they're going to pause officially in Q1 of 2024, where I believe they're going to start quantitative easing next year. So global liquidity will come back. Right now we are in a tightening cycle, rates are up, inflation is still an issue. So the markets are not really primed for a lot of capital to come in. That doesn't mean that the approval can happen now. But in my opinion, the approval news will help drive the price up and eventually as these products are fully launched by BlackRock and others, a lot of capital will start flowing through them. So in a way it's a good thing, but still on principle, it just shows Gary Gensler is a scumbag regulator. So once again, Valkyrie got their futures ETF approved by the SEC, so expect more volatility around Ethereum. Now, speaking of Bitcoin, a luxury car maker, Bugatti, and that's a very expensive luxury car maker, Bugatti cars, many of them are like a million dollars and over, officially launches Bitcoin ordinals collection. So really cool that big brands are adopting crypto in different ways, whether it be tokenization, NFTs, and much more. The issue is the Bitcoin blockchain cannot handle these things. It more adds congestion to the network, which increases time of transactions as well as costs. So it's not made for that. And I know there are folks who say, oh, you know, this is a good thing, but I don't think it's a good thing for Bitcoin. I think there are other blockchains out there that can handle these things and not have ridiculous costs and fees. So but I think overall, this is good for the market. Now Ripple CEO, Brad Garlinghouse, tweeted out the following today, a few weeks ago, we signed a letter of intent to acquire Fortress Trust. We've since made the decision not to move forward with an outright acquisition. The Ripple will remain as an investor in Fortress. The Fortress team is incredibly talented and has built products solving real customer problems. While this outcome is different from what was originally planned, we'll continue to support them and hope to work together in the future. So obviously, we don't know the details as to why they're pulling out here, but they will remain an investor. So just an update on that, folks. Now a quick word from our sponsor, and that is Uphold, which makes crypto investing easy. Uphold is a great platform that I've been using since 2018, so I can certainly vouch for this platform. They have 10 plus million users, 250 plus crypto currencies, and they're available in 150 countries. You can also trade precious metals and equities on this platform. If you'd like to learn more, please visit the link in the description. Now we have big news around Coinbase. They tweeted out today, the expansion continues. Thrilled to announce that Coinbase International Exchange has secured regulatory approval from the Bermuda Monetary Authority to enable perpetual futures for non -U .S. retail customers. You may have seen the phase two of our go -broad, go -deep strategy for international expansion. Providing greater access to go -broad products, including derivatives, is a crucial part of that strategy, all with the support of forward -looking regulators. Coinbase Advance will begin to offer perpetual futures trading in the coming weeks as access to regulated derivatives expands to more global customers. So really big win here for Coinbase, obviously it excludes U .S. users, but they're going to be able to offer futures trading and much more to many parts of the world. And if only the United States could get its act together and pass regulations and do the right things, you know, U .S. users could benefit from this. But you know, once again, we're dealing with clowns like Gary Gensler. Now PayPal patent apps signal an interest in Layer 2's NFTs. PayPal continues, folks, to just go aggressive in the crypto market. Obviously, recently they launched a stablecoin. We know back in 2021, they launched crypto trading for both PayPal and Venmo. They've been four patent applications, which were published since September 21, suggesting that PayPal is taking a close look at distributed ledger tech. So they're going all in, folks, and I don't blame them, right? You better innovate and adapt to the new disruptive technology, or you will be disrupted and be put out of business. Just ask the folks at Blockbuster what happened to them as Netflix and the internet and streaming and much more went and took their lunch. So really, really bullish. Let me give some details on these applications. The most recent application, published Thursday and originally filed in March of 2022, delves into the details of how validators or miners should be selected during the process of adding transactions to the blockchain. The document states that the company's disclosed techniques could advantageously allow steering of blockchain requests to a desired subsets of miners slash validators. Three other patent applications released on September 21 were also filed in March of 2022. One offered up supposedly new methods and systems to enable off -chain transactions through NFT marketplaces. Boy, imagine PayPal launching an NFT marketplace. Another mentions the concept of a so -called omniverse, which in this context suggests a product that deals in multiple metaverses. The third describes another conceptual online transaction processor. This processor's goal is to facilitate payments between users and merchants operating on different network layers, layer ones and layer twos in a more efficient manner. So essentially looking to build interoperability, that is going to be key. And notice users and merchants, right? So you may have users, let's say on the XRP ledger and merchants on the Polygon blockchain, how do they connect, right? And I'm just giving an example, obviously they mentioned layer one and layer twos here. So it could be like Ethereum and Polygon is a layer two scaling solution, but also there's going to have to be compatibility with different blockchains. So really great stuff here from PayPal and a sign of what's to come folks. This is a stuff that makes me very bullish. Now Circle, they're expanding USDC on the Polygon blockchain, and that's going to be launched on October 10th. So Circle continues to make smart moves here, pretty much getting USDC on all the top blockchains. And once again, there's going to be interoperability and much more. So the ecosystem continues to grow. Now folks, some of you may have seen this, the New York Post did an article saying the Winklevoss twins, Tyler and Cameron, secretly withdrew $280 million in assets before the crypto firm collapsed. This is according to sources, right? So they didn't provide any proof. Well, the folks at Gemini, they addressed this issue and gave some clarity that it's actually false. They said, we are disappointed that the New York Post has chosen to recklessly publish a completely misleading story about the Gemini earn program. Everything the post alleges in its story is the exact opposite. The $282 million that was withdrawn from the Genesis in August of 2022 was in fact earned users money. It was not Gemini's corporate funds, and it was not the personal funds of our founders, Cameron and Tyler, or their investment from Winklevoss Capital. So they clarified that, but kind of a hit piece here from the New York Post. Now folks, speaking of the Winklevoss twins, Mark Zuckerberg, and many of you know the history of Facebook with the Winklevoss twins and Mark Zuckerberg, well, Mark was interviewed on the Lex Friedman podcast, and they did it through the metaverse. People have been roasting Mark and his version of metaverse for years, they've lost billions of dollars. Look, I've even roasted him a little bit, right? Because their metaverse product was not great, but boy, have they made a huge leap. Guys, go check out the interview with Mark Zuckerberg on the Lex Friedman podcast. They did it through the metaverse using the Oculus, and the new feature is this lifelike representation of their faces and their upper body, essentially, and it is incredible, folks. It is incredible. You have to see this. And you may say, Tony, why are we talking about this? Well, folks, this metaverse set up with full immersion, right, will eventually include a lot of NFTs and blockchain and tokens. It's all part of the same technological adoption. You're going to see more tokenization, once again, everything running on the blockchain, and you're going to need the blockchain in the metaverse because it's going to be hard to plug in Web2 payment apps, right? It's going to be hard to go use PayPal in the metaverse versus using stable coins or different tokens to exchange value. So this is incredible. I'm really blown away by what Mark and the folks at Meta did here. And I'm not some big advocate of you must live in the metaverse. I believe the metaverse is going to be useful. I think with everything in life, you've got to have balance. Will I be participating in some metaverses? Yes. Will I be spending all my time in the metaverse? No. I will be out getting fresh air, touching grass, going out for walks and so forth. That is how I grew up. Obviously, we live in a digital world, but we have to balance it out. But future generations, if you're listening, some of you younger kids, somebody listening to this 10 years from now, please don't be fully immersed in the metaverse. Have a balance, spend some of your life outside of it. But folks, this is incredible. Go check it out. Finally, some more good news here. Our judge denies temporary release for Sam Bankman -Fried suggests he could face a very long sentence. That is music to my ears. I love it. This guy is a fraud, a liar, a criminal. He should go to jail along with Alex Mashinsky. And we have to make sure we do a good job of flagging these guys, man, because we don't need this kind of stuff in the crypto industry. We're trying to mature, have good infrastructure and avoid any type of corruption and criminal activity as best as possible. Obviously, it's hard to stop those things. They happen because it's part of human nature. Just look at Bernie Madoff. He was in the most regulated financial markets, yet he was scamming people out of millions, if not billions. I hope this guy goes to jail for a long time and he doesn't get off because we know his parents are connected politically and there's a whole bunch of stuff that's been happening there where money from FTX was funneled to his parents. So, you know, I hope they are all held accountable, folks, friendly reminder, my interview with Congressman Warren Davidson will be published tomorrow. So be sure to check that out. Make sure you got the subscribe button hit, hit the five star rating on the podcast platforms. And I'll talk to you all later. Bye bye.
Fresh update on "mark zuckerberg" discussed on The Aloönæ Show
"Interesting. What's your favorite quote? That's a that's a really hard one. I mean, the one that the one that's always stuck with me, I'll give you two. The Wayne Gretzky quote, you miss 100 percent of the shots you don't take. I think it's always really stuck with me because first off, you know, greatest of all time, but more important. It really is the kind of thing that whenever I have a moment of self-doubt about, you know, is this really going to work? I really do this thinking, thinking in that mindset really helps me get past that and helps me understand like, yeah, you know what? It doesn't matter if it fails because I always get another bite the apple. It's not going to be my last time. And so there's been times where I've looked at ads and I'm like, I don't know if this is really going to work. I still push it out there, I still put the money behind it, I still try it, because the reality is, is the ad that, you know, helped me scale my business last year and has continued to perform and has brought me, you know, hundreds, if not over well over a thousand discovery calls in the last year that I had the same feeling about that one. I had the same feeling like, I don't really know if this is good enough. The other one that has always stuck with me is from a headmaster I had in high school. He's now retired. He just retired this year. His name's Bradley Rogers. He was the headmaster of the Gao School. Now he is enjoying retirement, but he's honestly one of the most he's one of the people I credit with the most in life in terms of life lessons. And he had this saying that if you're on time, you're earlier, if you're earlier or if you're earlier on time, if you're on time, you're late. And if you're late, you're lost. And the first time he said that, I said, what a stupid saying. That makes no sense whatsoever. And then as I came into the professional world and I had people that would show up on time and then I'd have to wait for them to open their laptop and get all set up before we could start the meeting. I started realizing this is what he was talking about. If you show up early, you have time. Just like today, like when we got on the call, we had some like little technical issues at the beginning, right? If I showed up right at nine, then we would have started five minutes late because I would have been dealing with the technical issues then. But I showed up five minutes early. We dealt with the issues and we started right around the top of the hour. So it's that it's that thing that when I was a kid, I didn't understand it because I didn't understand how the real world worked. And then once I got in the real world, that just that really resonates with me. And so now I try to be early to everything where I can. And whenever I'm even a couple of minutes late, I feel awful because I feel like, boy, I really am lost in this world if I can't keep a keep a tighter calendar. Oh, yes, absolutely. Is it is there an app you hate? We still use it anyway. Mm hmm. I mean, the obvious one is Facebook, Instagram like Facebook is arguably the worst social platform in the world. Mark Zuckerberg is just a I don't I don't know him personally, but if the way he runs his company is any reflection on him as a person, he's not a good dude. The customer support for an agency like mine who is trying to solve problems for people is abysmal. It is absolutely garbage to your customer support. And the thing is, is that we're not just takers. We're not just free users of the platform. We're paying to advertise. So if I'm paying for something, I expect a level of customer support so that I can keep paying. And we just had a client today that we're pulling off a Facebook platform entirely because there's a bug in their account that won't let them pay. Like their cards won't go through. We already were on the phone with one of their people. They said, oh, yeah, it's a bug in the system. We'll fix it. And then we got sent back to the beginning of triage. And now we're having to argue our way back up to the top about fixing an issue that we shouldn't have to fix anyway. Right. It's their problem. And so I think I still have clients on that app. I'm still on that app. We still post content on that app. But the reality is, is that if I had my choice, I would I would cease my relationship with Facebook today. I think there's just far better platforms out there. Yeah, and who knows, maybe the next year or two, there may be a new platform that may be rising the ranks in terms of switch engine optimization, randomization of advertisements and also the efficiency of advertising promotion, too. There's potential for that for more competition. Oh, yeah, there's I mean, there's always a new platform, right? Just this year, there was Lemonade that came out that focused more on it. They're kind of like a Instagram. I don't know how to even describe them. I mean, their their target is kind of the Pinterest target where it's like mostly women. But there's also Clapper, which is a U.S. based TikTok alternative. TikTok has been crushing it with ads. We've made most of our money this year from TikTok ads. And we've been we've been helping clients run ads successfully in that space. So, I mean, there's there's just tons and tons of opportunity now out there. And Facebook has gotten so bad and the results from Facebook have gotten so bad that now when people ask us, the only people we put on Facebook are people that can't afford to play in some of the other ball fields. And it's like it's sad that, yeah, you can't afford to play in this. But if you need to do something, you know, something's better than nothing. But certainly if you have the money, I would not I would not give Facebook a dollar. I don't think they've earned I don't think they've earned anything in the last three to five years in terms of they have not released anything. That's really impressive. I'm sorry, but the Oculus meta world is not that impressive. Like and if it was, we'd all we'd be doing this podcast interview. They're not not on Spotify. Right. Like that's just the reality of it. So I just don't I don't think they've earned it. I think they're kind of in the same situation Apple is, is after Tim Cook left. Like Apple has not really innovated much at all. Like their stuff looks almost identical as it did a couple of years ago. I have a three year old phone that can still outshoot most of the new iPhones in terms of quality as an Android. So I just think that those are Facebook's in the same bucket is like they had all their innovation front loaded where they did all this cool stuff early on. You know, their first real social platform to have ads. They started that trend. They had Instagram, you know, they did all this stuff. And now the only real value they have is just copying off of other people. Like, you know, what they did with Snapchat, with stories, what they did with Twitter, with threads, what they did with reels, with TikTok. Like they're just they're just thieves now. They're not really creating anything new. Yeah, there's a platform you can guarantee Metta will create its own alternative to it. Oh, yeah, 100, 100 percent. Like because I think they see the writing on the wall like Metta is not long for this world. Like you were asking, what's what's something that might not be here in five years? There's a good chance Metta is not going to be here in five years. Like the only reason that I have more faith in them than pickleball is the fact that they're sitting on a lot of money, but that could dry up. Like if they don't start innovating and coming to the market with something new, something exciting, something that people can actually like get behind. I don't I don't think they're going to be, you know, pickleball might be gone in five years and Metta might be gone in six. Yeah, I think I think Metta might have my last little bit longer, because again, the money and also they have like all they have at least one alternative to every major platform there is. The thing is, if there's more competition and Metta's alternative starts to fade away, then you know, it's over guaranteed, period. Oh, yeah, well, I think the other thing is you have to keep in mind that the the Metta demo gets older and older and older every day, every week, every year. They're not attracting young people at all. Like young people are going more. And this is the funny thing. More young people are joining Twitter, which is just as old as Facebook, practically. But they're more attracted to Twitter than they are to Facebook, because Facebook's Facebook's where your dad's at. It's where it's where your grandma posts pictures. You know, it's where your uncle posts conspiracy theories like that's what Metta is. Metta is not like not the hip, cool platform anymore at all. Yeah, so, so sad. Yeah, fall from grace. But, you know, that's if there's a great chart out there that shows the cyclical patterns of social media and, you know, once they peak, they never regain. There's never been a company in the social sphere that has ever regained their peak. Once they peak, it's over and like people start looking for the next thing. And I don't know if TikTok peaked yet. I'm guessing they're probably edging pretty close to it. But there's still a lot of growth on that platform. So I'm still bullish on on TikTok. But like, think about Snapchat. Snapchat was five, 10 years ago. That was that was a hot ticket. Now, like, I don't know anyone that uses Snapchat. Yeah, and that is all we have for this episode. It was great having you on, Drew, talking about Growhouse and everything, marketing and advertising based stuff, everything else has been great. Yeah, thank you so much for having me on it. It was a very interesting interview. I can't say I think you have asked at least 10 questions that I've never been asked before. So it was very fun doing this. Yeah, it sure was. And until next time, stay tuned for more.
Monitor Show 15:00 09-27-2023 15:00
"With Bloomberg, you get the story behind the story, the story behind the global birth rate, behind your EV battery's environmental impact, behind sand, yeah, sand, you get context. And context changes everything. Go to Bloomberg .com to get context. We're working on it. Funding the government? Not so much. Kaylee, I'll meet you on Balance of Power. I'm Joe Matthew in Washington. Bloomberg Business Week starts right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. This is Bloomberg Business Week. Insight from the reporters and editors who bring you America's most trusted business magazine plus global business, finance and tech news as it happens. Bloomberg Business Week with Carole Masur and Tim Stenebeck on Bloomberg Radio. And a very good afternoon, everybody, live from the Bloomberg Interactive Brokers Studio streaming on YouTube and of course on Bloomberg Originals. It is Wednesday, September 27th. Happy hump day, Tim. Happy hump day. It is September 27th. I feel like I'm finally awake and alive. Well, it takes a couple of days for us to come out of our whatever we did over the weekend. Hey, stocks bouncing around a little bit. We're actually seeing the S &P 500 flat right now. The Nasdaq is actually higher. The Dow down by two tenths of one percent. The Dow, we should note, is below its 200 day moving average. Carole, you're bearing the lead. You know that. What am I bearing? Tom Brady and Snoop, I watched this. I watched this live. Mark Zuckerberg taking the stage at the Facebook developers conference in California. And Tom Brady, Paris Hilton, they're all your A .I .s. Whatever happened to the metaverse? I thought that was the big thing. Well, they did unveil a new Oculus Quest three. Yeah, but you know, it's going to cost more money. You know what? Yeah, they're playing in the metaverse. All right. We're going to get to all of this in just a moment.
A highlight from 1267. Xbox Leaks Crypto Wallet | Microsoft x Meta Web3 Analysis
"All right, so big news in the industry today, we're going to break it all down for you. This is all about the Microsoft leak documents and its connection to crypto. So this is an important one. If you are interested in crypto at all, even if you're not a gamer, you want to stay around for this one. It's going to be a good one. My name is Paul Baron. Welcome back into Tech Path. Let's get into it today. And I do want to thank our sponsor, and that is Tangem. If you guys are looking at self -custody, this is one of the tools that I like. And it's a great tool because it's utilizing a card system that is basically an NFC device. If you go over to their website, you can learn a little bit more about the Tangem wallet. And if you decide you want to get one, there's a couple of options you've got. You can go right in and get their most recent one, which is the new Tangem wallet releasing here in early October. And then, or possibly even go in and get your classic wallet. The cool thing with the new one is you're going to have the optional seed phrase among some other things. Now, one of the questions that I'm asked often is, how secure is this, Paul? Is it? Because in many cases, if you've had NFC cards, you know, there's these technologies out there that are able to breach these. And Tangem tweeted something that was happening over at one of their events. And this is a product called Flipper Zero, which Flipper Zero, let me kind of play this for you guys real quick, and it'll show you real quick. So the wallet here, let's try reading his NFC. So, reads it, but it can't parse the data. So, let's go ahead... All right, so what Flipper Z does is essentially can analyze any NFC, most NFC, and able to pull the data right from the card. They were unable to crack the wallet right here on Tangem. So they showed that example. So if you guys are interested in security, and that's your thing, and it should be anytime you do self -currency, this may be a solution for you. Make sure and use our discount code, it's down in the links below. All right, so let's get into a couple of points, starting with this news right here. Leaked documents show that Microsoft recently explored the idea of supporting crypto wallets on Xbox consoles. Do you think this next console or software update will include support for crypto? This was actually from Forbes, where they were talking about the leaked documents, showed an Xbox roadmap from May of 2022 that included support for crypto wallets. Now, this is pretty big. Now, there's a lot here that supports this. Other than the leaked documents, we'll break into all of that for you guys as well. And also what its potential is. Now, this was a tweet we put out back in March of this year, March 18th. We put out this, Ethereum and NFT wallets coming directly to Microsoft Edge browser. Browser -based games are about to get a helping hand from the most powerful tech company in the world, being Microsoft. And then we showed the actual function of it, and I'll zoom in and on that. Right there is the crypto wallet integration. This is Edge wallets, and then right there is Ethereum. So again, this is the early stages of what many of these tech companies are prepping for, which I think is going to be a war in the gaming market. Now, this has happened before with Microsoft. Remember the browser wars when Microsoft essentially was going head to head with Netscape. And at the time, Netscape had most of the market share, was doing so great, and everybody kind of counted Microsoft out. And of course, Internet Explorer came, it kind of opened up the browser wars, Google came in behind that and pretty much took most of the market share. But the point is that Microsoft is making some moves. Here was a good example. Here was Azure, NFT solution accelerator. So this again also ties into Microsoft and the use of platforms like Ethereum. So more data kind of showing in where exactly their strategy is going. If you look at the Fortune 100 Web3 investors by number of deals, Citibank, Goldman, IBM, Google, Microsoft, number 15 right there. So you can see this is getting pretty interesting right here when it comes to the major companies understanding where this is going. Now, most of this has been mostly on the institutional side, which is reasonable and understandable. But I think Google and Microsoft are definitely out here in front. Now, the question will be is, how does this play into the rest of the market? Here's some examples of some companies, let me kind of zoom in on this for you guys, of some companies already making a lot of Web3 moves. Obviously, Microsoft with Activision, their acquisition positions Microsoft to build metaverse capabilities. You've got Meta and Imagine PTIX, PayPal and Curve. You can see there's a lot of companies in here that have really started to connect the dots here. Nike Artifact, we've covered it extensively. And then obviously, Apple, we'll see how that goes with their virtual worlds on the avatar side. The other things that I think when we get into this, if you think about, well, is Microsoft ready for this? And I think one of the things that Microsoft, a lot of people don't realize this, they have learned their lesson of these early -stage growth markets. And what I mean by that, this is a statement that goes all the way back into, you know, Wikipedia land. And ironically, I worked for Microsoft at the time when all this was going on. And this was by Bill Gates, where he simply said, this is also famous that the internet were not interested in it. This was a quote from Bill Gates in 1993. Let me kind of zoom in on that for you guys. And the internet, you know, we're not really interested in. And the reason I know this is because when I was working with Microsoft, you know, as a young tech guy, I was thinking, oh my God, this internet thing is going to be an absolute barnstorm. We're going to see an unbelievable growth, unbelievable innovation. And the teams that I was working for, all of my uppers, were essentially saying, don't worry about it. We're going to focus on OS and the future of the, you know, the WordSuite and all the utilities and productivity tools. And I couldn't believe it that that was happening, but it did. And I think Microsoft has learned something from that history in being too late to an early -stage market. And that, I think, is where we're going right now. When I go to this next clip right here, it gets into the Xbox history because they also almost lost the war. Listen in. The Xbox One was a byproduct of a lost and misguided Microsoft, which did not have the interest of gamers at heart. All we heard was TV, TV, sports TV, TV, TV, followed by horribly disconnected attempts at salvaging a situation where irreparable damage had already been done. Fortunately, we have a product for people who aren't able to get some form of connectivity. It's called Xbox 360. Stick with 360. That's your message. Well, if you have zero access to the Internet. Meanwhile, its opposition went on from strength to strength, using Xbox's missteps to enhance its position. Xbox went on to lose its stronghold in two key regions, the United Kingdom and more critically, the United States. At the time, all this seemed like a near impossible task. Many were talking about the possible disappearance of Xbox from the gaming space altogether. It nearly happened. But instead, in comes in Phil Spencer, the newly appointed head of Xbox. All right, so Spencer was kind of the Messiah there and understanding the challenge that he was up against in terms of being able to go against, you know, makers like Sony, etc., that really kind of dominated the gaming space. The Activision deal was so critical for their success going forward, especially in the gaming sector. But now the question is, how do they maybe one up their competition? Because there is a new innovation land that is pretty much untouched. It's a brand new area called Web3 and what we'll see with the use case of crypto and NFTs. All of this is about to crack into what I think is going to happen in the gaming sector right now. If you look at this next clip, which is where Spencer talks a little bit more about creators and this is why I think we can draw the conclusion. Let's go to a clip by Phil Spencer on creators and why this is important. Listen. So that's why Xbox is interested in, you know, going down this road hand in hand with Activision as a king. But what's the benefit to gamers and creators and if possible, is that maybe an angle in the UK that benefits them? In the end, it's all about player and creator benefit. Like we know that as building a platform, if our players aren't finding great games to play and if our creators don't feel like they can build the best games and find players for those games, like nothing else matters. Because we're trying to create a larger marketplace for people who are building games across more screens. Different business models help players and it helps creators as well. And that's our job. And in the end, this has to benefit players and creators or it hasn't been successful for Xbox. I think his statement right there of benefiting creators in the end is critical to the overall strategy of how Xbox is going to go. Xbox and Microsoft are going to go forward and the tie into Web3 and NFTs is going to open up a whole new, not only creator community, but also a creator industry in terms of revenue, business models. All those kind of things are going to really advance in Web3 and I think that is the scenario that Xbox, with these leaked documents, might be setting up along with Microsoft. If you look at what's happening though with Meta, obviously Meta Connect this week, they had something that was kind of interesting. And that was the fact in this little promo, they actually put in a statement in there and the first look at what's next for the metaverse. So they're still using the term. They still see the potential here. And the predictions of what Meta is going to be doing and what Mark Zuckerberg is going to be doing could be much bigger here. And there's some interesting correlation between Meta and Microsoft. Now, you have to think about it. The enemy of my enemy is my friend. Now, think about who the enemy is here. It's most likely Apple and what is happening with Vision Pro. I think there may be a connection here that starts to set things up quite interestingly. Now, as you look at Meta, this was just a quick clip right there from something that Zuckerberg posted. And part of this was really the fact that most likely we're going to see something dropping from Lego in connection with Meta. So again, most likely a lot of new stuff dropping, most likely we're going to see some hardware. And what I'm really interested in is what does that roadmap look for with all of these new devices and potentially new experiences coming to Meta. And we'll find out on the Connect Event. Let's go over to this next clip. This is getting into Game Pass and how this connection into VR works, especially tied into what was happening during this leak. Listen in. We have waited so long for Xbox to finally come to our Quest headsets. And while none other than Mark Zuckerberg made a huge promise that Game Pass would be coming soon to the Quest 2, Microsoft leaked some very important documents that showed their interest and plans for upcoming VR products, with them mentioning that they see XR as their future opportunity, even so much that Xbox can leverage it to build its next -gen platform for immersive apps and games. But probably the most important one noted that Microsoft wanted to expand its hardware portfolios to include complete new categories pointing towards VR devices.
Rep. Massie Asks AG Garland Why Ray Epps Only Received a Misdemeanor
"On a misdemeanor? Meanwhile, you're sending grandmas to prison. You're putting people away for 20 years for merely filming. Some people weren't even there yet. You got the guy on video. He's saying, go into the Capitol. He's directing people to the Capitol before the speech ends. He's at the site of the first breach. You've got all on the goods him, 10 videos. And it's an, and it's an indictment for a misdemeanor. The American public isn't buying I it. yield the balance of my time to Chairman Jordan. May I answer the question? I'm going to ask you one now. We'll let the gentleman. Yeah. Go ahead. In discovery, in the cases that were filed with respect to January 26, the Justice Department prosecutors provided whatever information they had about the question that you're asking. With respect to Mr. Apps, the FBI has said that he was not an employee or informant of the FBI. Mr. Apps has been charged. And there's a proceeding I believe going on today on that subject. The charge is a joke. I yield to the chairman. Cut nine, go. Elon Musk was a Democrat who admittedly supported Biden, but then he became a critic of the administration and exposed the censorship regime. Now, per public reports, the DOJ has opened not one but two investigations of Elon Musk. Mark Zuckerberg, on the other hand, spent $400 million in 2020 tilting the elections secretly for Democrats. No investigations so far. To the American public, these look like mafia tactics. You pay us your money, we look the other way, you get in our way, we punish you. The American public, these tactics are. One hundred percent. While it's more of the same the during hearing, I'm not going to play anymore for you,
Monitor Show 14:00 09-13-2023 14:00
"With Bloomberg, you get the story behind the story, the story behind the global birth rate, behind your EV batteries' environmental impact, behind sand, yeah, sand, you get context. And context changes everything. Go to Bloomberg .com to get context. Always. You know, you can get the latest news whenever you want it with Bloomberg News Now, something we want you to know about. Top stories from our global team of reporters with just a click. Get Bloomberg News Now on the Bloomberg Business App, Bloomberg .com, anywhere you get your podcasts. That's pretty stupid. Is that actually what will decide this race? Bloomberg Sound On. Politics, policy, and perspective from D .C.'s top names. Federal spending combined with too -lax monetary policy has produced this 40 -year high on inflation. China policy is driven basically by domestic politics. American families are finding themselves further behind the eight ball. To get anything done in this Congress, it's going to have to be done in a bipartisan way. Bloomberg Sound On with Joe Matthew on Bloomberg Radio. A .I. has its big day in Washington. Welcome to hour two of Sound On as the titans of tech gather on Capitol Hill for a special closed -door meeting with the entire U .S. Senate. As lawmakers try to get their arms around a fast -moving technology in the slowest -moving legislative body here, we're going to get an update from the Hill in just a moment from Bloomberg's Kaylee Lyons, who's been rubbing elbows with the likes of Elon Musk and Mark Zuckerberg for the balance of the day. Must have been something I said for the music there. Hardline Republicans, in the meantime, blocked the House.
'Jeans' CEO vs. 'Suit and Tie' CEO: A Closer Look at Leadership Styles
"In the world of business leadership, the way a CEO presents themselves can say a lot about their management style and company culture. Two distinct camps have emerged over the years, the Jeans CEO and the Suit and Tie CEO. Let's dive into the contrasts and similarities of these two approaches to leadership. The Jeans CEO, casual and innovative the Jeans CEO represents a new age of leadership, often linked with tech startups and creative industries. This style symbolizes a more relaxed, open and approachable leadership. Dress code, casual attire like jeans and t -shirts. Management style, often more collaborative, encouraging open communication. Company culture, promotes creativity and flexibility. Famous examples, Mark Zuckerberg of Facebook, Steve Jobs of Apple. The Jeans CEO promotes a flat organizational hierarchy where employees feel empowered to share ideas without rigid barriers. The Suit and Tie CEO, formal and structured in contrast. The Suit and Tie CEO stands for tradition, formality and a more hierarchical approach. Dress code, formal business attire including suits, ties and dress shoes. Management style, more structured with clearly defined roles and responsibilities. Company culture, often more formal and focused on established business practices. Famous examples, Jamie Dimon of JPMorgan Chase, Mary Barra of General Motors. The Suit and Tie CEO can symbolize stability, experience and a tried and true business model that values protocol and procedure. Finding a middle ground while these two styles may seem at odds, many modern leaders find a balance, adopting elements from both approaches. The choice between jeans and a suit may not be merely a fashion statement, but a reflection of the CEO's values, the industry and the company's stage of growth. Conclusion The Jeans CEO and the Suit and Tie CEO represent more than just clothing choices. They are indicative of underlying philosophies and approaches to leadership and business culture. Whether a CEO dons jeans or a tailored suit, what ultimately matters is the authenticity and effectiveness of their leadership. Embracing a style that aligns with the company's mission and values will resonate more profoundly with employees and stakeholders than merely following a trend.
Could Minority Report Become a Reality? Tristan Harris Weighs In
"There the possibility of doing minority report right now so that AI could predict a mass shooter on a school campus? Well, I'd have to work at or have access to the data of the companies to be able to answer that question fully accurately. But I'll tell you, just so listeners are following here, the way you would know is you would look at, OK, here is a mass shooter and you get, let's say, 100 examples of mass shooters who actually did it. Then you'd ask Facebook, show me a pattern of the last six months or year of this person's activity. Is there some pattern? Is there the kinds of groups that they were joining? Is there some kind of pattern of the kinds of things they were commenting on, the word choices they had? Is there some pattern to their usage, what they're doing, what they're talking about, who they're texting with, or just what they're saying as they're texting, if they're putting it into plans, where theoretically, yes, it would be possible for maybe Facebook to build a predictive model that says they don't know for sure, but they can say, here's a person who has a pattern of activity that looks just like the pattern of these 100 other shooters. So that brings up an ethical question. And a governance question. What should we do when you have technology companies that are privately owned, rather not publicly owned, they're on the publicly traded markets, and they can make a prediction that's accurate about what someone might do in the world? That's the first question. First question before that is, do you want the government to know and have the ability to compel a private company to run that data? Mark Zuckerberg said that before COVID, we don't have that capability. They may have it now, and I don't want to put Mark on the record to deny it now. I haven't talked to him in a year. So I will talk to Teal pretty soon, who's kind of a friend, and I'll ask him, can Palantir do this? If it can be done, it's Minority Report, it's a Tom Cruise movie, it's scary stuff. Do you want the state to have control of that? That's the big question. No, not particularly. I think it leaves us again with uncomfortable choices. So if no one is, you know, these things should be democratically decided though, right? And the real problem is that Silicon Valley is building a new digital world with, instead of a constitution, it's really their terms of service. And, you know, Larry Lessig, the Harvard professor, wrote a book called Code is Law, saying that law will be undermined by code. Code will set the norms of what people can and can't do. And increasingly that code is written by a handful of companies in California who, you know, I know there's a critique that everyone in Silicon Valley is politically biased. I think it's actually more, if you're running one of those companies, it's really about your own survival and dominance.
A highlight from Ask Charlie Anything 156: Criminals Who Classical Music? Making Kids Reject Marxism?
"Think identity theft won't happen to you? Think again. There's a new victim every three seconds in the U .S. Over 15 million this year alone. And many don't even know they're victims. LifeLock alerts you to identity threats you could miss, even when you monitor your credit. If your identity is stolen, your dedicated U .S.-based restoration specialist will work to fix it. No one can prevent all identity theft, but everyone can save up to 25 % their first year at lifelock .com slash Salem. Identity theft protection starts here. Hey everybody, happy Monday! Why does classical music bother criminals so much? We also talk about Marxism in three easy steps and why I'm not that excited about the Elon Musk -Mark Zuckerberg fight. Email us freedom at charliekirk .com, get involved with Turning Point USA at tpusa .com, start a high school or college chapter today at tpusa .com, get involved in our student movement that is helping make America a better place for your kids or grandkids. That is tpusa .com, tpusa .com. You can always email me your thoughts, freedom at charliekirk .com. Buckle up everybody. Here we go. Charlie, what you've done is incredible here. Maybe Charlie Kirk is on the college campus. I want you to know we are lucky to have Charlie Kirk. Charlie Kirk's running the White House, folks. I want to thank Charlie. He's an incredible guy. His spirit, his love of this country. He's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA. We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country. That's why we are here.
Monitor Show 18:00 08-11-2023 18:00
"Just checking. She's from Texas. That's when there's anything wrong with it. She's a beef kind of gal. What's really fun is in the weekend show we deal with Beyond Meat, Once a Wall Street Darling, Not So More. Also we work Once a Darling and we also talk a little bit about Disney. A lot of news on that company, remember that, earlier in the week. That is our weekend show. Catch that tomorrow at 8 a .m. on Bloomberg Radio and of course on our podcast feed. Have a great weekend Jess. Everybody have a good weekend. Wall Street Week starts right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. This is a Bloomberg Money Minute. Mixed news on inflation left investors still uncertain about the interest rate outlook. Inflation expectations unexpectedly fell this month. A University of Michigan survey finds consumers see prices rising 3 .3 % over the next year. The government's report on July wholesale prices was a disappointment. Producer price index rose three tenths of one percent. A bit more than analysts expected. It was a mostly lower day on Wall Street closing out a slightly down week. The major index has posted one of their smallest weekly moves all year. Dow Industrials rose 105. The S &P 500 lost five. The NASDAQ fell 93. Meta platform CEO Mark Zuckerberg says he's not holding his breath for a cage match with Elon Musk. He says Musk has not agreed on a date despite Musk's claims that the two billionaires are working out plans for a cage match in Rome. Larry Kofsky, Bloomberg Radio. The Big Tape, a daily podcast from Bloomberg and iHeart Radio. Highlighting the best reporting by Bloomberg News from around the globe. This is a really fast moving story. ...caused a lot of outrage among investors. It will really set the economy on a road...
Monitor Show 12:00 08-11-2023 12:00
"Very interesting story. I recommend people check out that story on the Bloomberg Terminal or on Bloomberg .com. When we come back, we're going to talk about a couple of really important cage matches. Cage matches? One possibly real between Elon Musk and Mark Zuckerberg. One just in my head between President Joe Biden and President Xi Jinping in China. It's going to be a very interesting story with our Bloomberg opinion writer. More markets up next. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. This is Bloomberg Markets with Paul Sweeney and Matt Miller. We got a lot of green on the screen here, but the volume is light. We constantly underestimate the strength of the U .S. consumer. This is a market that's much more optimistic or bullish than maybe central bankers are. Breaking market news and insight from Bloomberg experts. There's still some concern out there in the market that there is room for things to deteriorate a little bit more than what they're indicating. As small and medium -sized businesses struggle, they don't present as much competition. The supply chain has still got dislocations globally and here in the U .S. This is Bloomberg Markets with Paul Sweeney and Matt Miller on Bloomberg Radio. Matt Miller here in the Interactive Brokers Studio with Simone Foxman. Paul Sweeney is off today on a well -deserved tea day. That's what we call it when you take off. On assignment, figuring out work -life balance. Exactly. Just swimming through his pool of municipal bonds. We have a lot coming up, though, on the program. I'm very excited to get Howard Chua -Yuan with us. He's an international editor with Bloomberg Opinion to talk about the comments that President Biden made about the Communist Party at Xi Jinping, about China. Some of them, I think, pretty inflammatory, it's safe to say. Almost Trumpian.
Monitor Show 06:00 08-07-2023 06:00
"1 % gain and Nasdaq futures are higher by about a half percent now up 80 points ten -year Treasuries down 17 30 seconds for a yield now of four point one zero percent up next we'll get the latest on Israel's judicial Overhaul as the prime minister softening his stance plus former President Trump's attorney lays out his January 6 case in the court of public opinion Our two of Bloomberg Daybreak starts right now Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg radio From the Bloomberg Interactive Brokers studios This is Bloomberg Daybreak for Monday August 7 coming up today Israel backs away from a complete judicial overhaul Bloomberg speaks exclusively with Prime Minister Benjamin Netanyahu a new poll shows Americans still feel Donald Trump acted illegally To stay in office Fed officials appear divided on future rate hikes and word of a cage match between Elon Musk and Mark Zuckerberg Surfaces again the January 6 special counsel requests the protective order against Donald Trump the social media Influencer charged with inciting the riot in Union Square. I'm John Tucker those stories straight ahead I'm John Stash Aaron towards the Yankees lost to Houston the Mets shut out in Baltimore the u .s.
A highlight from Is Elon Musk A Bitcoin HERO Again?
"If you use the four -year cycle, that means November -ish, October -ish, we would just be hitting $60K. So I don't know if we can go from $60K to doubling in two months or, you know, I think we're closer to $60K at the end of 2024. I like Bitcoin. You like Bitcoin? I like it. Alright, we do have a $4 .99 Super Chat from Corey. Cheers! Just put $2K into XRP and Algo. Love the channel. Alright, I feel pretty good about that two years from now. But if it's in the red a month from now, don't blame me. Blame that guy. Alright, no, we're kidding. Alright, Twitter partners with eToro to let users trade stocks, crypto as Musk pushes app into finance. Now, again, Elon has denied these rumors, but it looks like starting Thursday, he'll give users the option to buy and sell stocks and other assets, the company told CNBC exclusively. Maybe Elon is more rejecting the idea of the everything. But this is a rare partnership deal for Twitter since he took the reins as CEO. He's made it his mission to call it the super wrap here. They'll allow him to access stocks, crypto, and other financial assets with the partnership eToro. And with that, the cash tags will be expanded to cover far more instruments and asset classes, an eToro spokesperson told CNBC. eToro is founded in Israel in 2007, and it's an online brokerage that allows users to buy and sell stocks, cryptocurrencies, and index funds. Do you own any index funds? I might buy my first mutual fund. I don't know anything there. What's interesting here is going to be who ends up winning this battle. And you know, in the article, first of all, the first thing we should mention is the source of this information is a kind of sketchy one. We talked about him yesterday. It's Semaphore. We know Elon does not like Semaphore. He's one of the ones that outstid Semaphore when it comes to the situation happening with the Binance and now the U .S. government ordeal. But they are the ones breaking this news this morning. And they reference eToro and Robinhood because these would be the only two options at the moment unless Elon builds a brand new platform. These are the only two that would offer what's being rumored that they're going to do. And I have a question for the audience. I mean, a question for you too, Deezy. Which would you prefer him to use, eToro or Robinhood? They have their pluses, they have their minuses. I can't get over Vlad looking so much like a vampire. I'm just going to go with eToro off that very baseless and auspicious reason. Do you know the fees on eToro for crypto? I haven't. I've never used eToro, so I could not tell you what the fees are like. I bought Dogecoin once in my life. I went and got eToro to do so. eToro on crypto charges one percent for every buy and every sell. That's pretty rough. Now, I'm assuming there's a maximum, though, too, right? No, just blatant. You're confirming if it's a million dollar buy, it's 10K. At least you're confirming that. There's no on their website. Coinbase has the levels of like, if you buy this much, it's different. I think it's a $25 maximum. It just says one percent across the board. OK, one percent. Corey, he's going for the two years from now outlook. All right. All right. We have a video Elon posted in the wee hours of the night. This is about seven hours ago, maybe six hours ago. Let's play that thing. Do we have sound? Oh, yeah. I mean, he's just kind of chatting. Hang on. This is Elon having a good time. Here we go. Surprisingly cheap ceilings. Really? Hey, guys, you're on to welcome. He curls at forty five. All right, let's see. Not a hundred pound weight, Mike Kilmer. He's he's curling Zuckerberg's weight, right? Me, swelling of forty five. He did it pretty easily. Yeah. So there you go. Maybe he's working out, folks. Do you think Elon's working out? It looks like a video feature is working better. I think he is. I think he is. All right. Better than the sort of eight. All right. Now, yeah. Elon, he's he's definitely one of the the main memers of the Internet. Here we have a little graphic one app to rule them all as the X, you know, looks pretty close to the eye of Sauron. Not that there's anything wrong with that, of course. All right. Well, what are your thoughts on the super app? Would you like to have a super app in America or do you like, you know, everything kind of being separated? So it's less worry of a all out attack, less points of danger. Fair point. You know, when you spread it out, there's there's a little more security with that. But just think about the ease it would be to do everything on the one place. And I want it. If there's anyone out there that I believe that can get this done. It is Elon Musk. And if the rumors are true, because again, right now we're kind of in a wrestling match is is Elon actually doing this platform thing that everyone's like, he's starting his claim to be that one one site. That's the end all be all of everything he says before. He thinks that X could take 50 percent of all the financial actions within the next couple of years. I'm like, basically, that's insane. He's capturing the West. Yeah, that's how I read that. We chat is going to capture the right. He's probably not going to be able to make any serious headways within China. You know, they've chosen WeChat. They have backdoors and WeChat. Of course, the CCP is heavily involved in all WeChat encryption issues or lack thereof. And so I think he's going to try to have the super app of the West. Yeah. Now, Chad, who do you think is going to win? Is it going to be Jeff Bezos? Is it going to be Elon Musk? I think it's going to be one of those two. I think Mark Zuckerberg might really try once we have the Ray Ban ocular. You know, he's going to try to take over with the AR angle. I think by then it might be too late. And we're all just going to kind of be used to sending money with our phone. Do you really want to send money with your glasses and you're like touching the air like send Tim 20 bucks or the burrito? You know, I don't know. I think people just rather do beep boop boop and then send it with their phone. We're going to briefly interrupt this. I just want to give a special shout out to our sponsor, Steak. Big shout out to Steak. We love it. Elon does have the walrus move advantage, just saying. I mean, that is a tough move to beat. It's going to be I mean, it's a serious move. It's up there with like rear naked chokehold and the figure four leg lock, I believe, and the torture rack. It is up there with all those. Yeah, I'm betting on Elon between Elon and Zuck, although Zuck is very, very capable manager, obviously capable CEO. I think Elon is just a little bit more capable. And I think he gets the the the changing shifts of culture a lot better than Jeff Bezos. Here's my Jeff Bezos impression. That's a funny joke. Ha ha ha ha. And it's just it comes off a little unnatural. And Elon just seems a little bit more real. It seems like a more real human being. Elon would use the Elon would be in a fight with with Zuck and he'd do the oil check. OK, yeah, I can see that those who don't know the wrestling oil check is, you know, you're putting the finger, you know, dipstick check in the oil. Folks, it's like in Free Guy. Great movie. Great movie. All right. Let's move on and talk about Bitcoin. Most people want to talk about Bitcoin. Kelly Boy like the torture rack reference as Lex Luger, I believe. All right. Bitcoin whales accumulate. All right. That's two wrestling references. No more. Don't worry. Bitcoin whales accumulate. Fifty nine point two percent of circulating supply data shows. So the whales have 60 percent of all the corn post analysis revealed that a relatively small cohort of addresses is amassing a considerable amount of the currency circulating supply with a total of fifteen thousand addresses, each holding over one hundred collectively commanding eleven point five million coins. What is important to realize here? There's a lot of centralized exchanges. So you take out Binance wallet, you take out Coinbase wallet, you take out eToro wallet, you take out Jack's blocks, eight thousand Bitcoin wallet. Then it starts to look a little bit more decentralized. But, you know, a lot of people are OK holding their Bitcoin on a centralized exchange. I wouldn't recommend doing it in any serious, you know, heavy manner, any high percentage manner. But a lot of people like the convenience. I you know, I have a OK amount on Coinbase. I'm not going to chastise you for that. It's worth noting that the total number of addresses created on the chain has recently surpassed the one billion mark. Although out of these addresses, those with the balance are only around 45 million. Those most created addresses do not currently have a balance on them. Moreover, London based banking and financial services firm Standard Chartered has suggested that the price of Bitcoin could surge to 50K this year and then could breach 120K by 2024 is close. And another major bullish price prediction for Bitcoin. I don't know if we're going to go that high. If you want to, you know, rewind four years, December 2020, we just hit new all time high. We just hit 20K. If you use the four year cycle, that means November ish, October ish. We would just be hitting 60K. So I don't know if we can go from 60K to doubling in two months or, you know, I think we're closer to 60K at the end of 2024. What's your year in 2024 price prediction? Yeah, I know it's you know, you probably need to think about it a little bit more. I'm throwing it out there. 69K. Yeah. Well, the first thing I'll say is 50K is not going to happen in 2023. Barring we find out about Bitcoin ETFs within the next couple of weeks. That's probably the only thing left that would be able to pump it that high. And even that I don't think would do it. Those things take a while before the real money comes in. End of 2024, I think there's a decent chance that before the end, we might double top of that 69, maybe set a brand new all time high. But if we're asking December 31st, I don't know. Like I think we'll be wrestling close to that area, but I think it'll be a little lower. All right. Will you watch Zuck Musk cage match? 70 % are saying yes. All right. Bitcoin holdings on over the counter desk decline. 33 % OTC desk balances are widely considered a proxy for institutional activity. Still, caution is warranted when drawing conclusions. Those held in addresses tied to the OTC market. If you don't know, the OTC market is a whale wants to buy a billion dollars worth of Bitcoin. He doesn't go into an exchange and clear the order books where his first Bitcoin is $2 ,000 cheaper than his last Bitcoin. He's going to go to over the counter person who wants to sell a billion dollars Bitcoin. And they don't want the first Bitcoin they sell to be $2 ,000 more expensive than the last Bitcoin they sell. So they have aligned incentives. And so they'll meet in a park with some briefcases, you know, they'll sit down with the newspaper. I don't I don't think it works that way. They meet in a hotel lobby in Dubai, and then they like open up their balances, and then they do it that way. It just makes it where, you know, they settle on a price and they don't impact the markets too much with these large, large purchases. As of Thursday, the so -called OTC balance stood at 5 ,000 Bitcoin or about 150 million of the market cap. And that's a 33 % slide from the one year high of about 7 ,600 Bitcoin at the end of June. So that's going to fluctuate. High volume traders and institutions typically deal with OTC desk to avoid affecting the market price of the asset. For that reason, activity is said to reflect the behavior of large, sophisticated traders. In the past, some analysts have associated upticks and downticks in OTC desk balances with miners' intentions to build, run down their coin stash there. So just something to watch out, but I wouldn't worry too much just yet, just because it's down 33%. Really not too much when you're comparing it to the all -time high for the year there.
A highlight from UniswapX, POL Token, MetaMask Snaps, Ripple Ruling
"Well, good morning to you all. This is the live broadcast of your weekly recap of the news here with The Defiant. I'm Jeremy Nation and joining me is Owen Fennell. What's going on everyone? Hope you guys have a good week and we're here rocking it. The parents are out of town. Kami is in Europe. YYC is in Toronto. So you are stuck with us here today to give you a brief breakdown of the week's news. And we're going to start with markets where we have seen some of the older DeFi tokens actually get some love from the market. We got Maker up 23 .8 % on the week, Chainlink up 14 .4. They got a new CCIP release. And some other DeFi tokens, Synthetix is doing well, Compound's doing well, as well as some other tokens like Bit, which recently pivoted to becoming Mantle and L2. Jeremy, do you have any other takes on the market that we were seeing? And I mean, we had some great news in terms of the market sentiment last week with that ruling on Ripple. I think that we've seen some healthy consolidation in the marketplace rather than some pump and dump activity, which would, I think, indicate that markets may be maturing in the wake of what we've seen as a long bear market coming into the latter half of this quarter. Now by the end of this year, we may see this sustained and perhaps some of these more positive shocks such as additional rulings from regulatory bodies that are having lawsuits go through and other types of things like central banks taking a look at some of these things. I think that there are a lot of different positive shocks that may yet hold for the market. I'm very optimistic, actually, about it. Yep. We will see where everything is going there. Obviously, there are macro experts out there who could tell us a lot more than we can say. But yes, we are looking at least on a bit more solid footing than we were, I would say, three to six months ago. Certainly. And hopefully those conditions will persist. I've seen a lot of different stablecoins kind of being looked at by different protocols. So in terms of DeFi having a little bit more stability in the marketplace would be a good thing. Right on. All right. Let's get into it. So to start off, we're just going to break down some of the stories that we worked on this week. I spent a fair amount of time working on a regulatory story, trying to dig into what it means, what the Ripple ruling means, which rocked us last week. And that was very interesting, very talking to a lot of people about getting into the weeds about what a security is. And it gets very messy, as we all maybe can intuit. So that's what I spent a lot of the week on. But also, we had some interesting releases like Utopia Labs, which enabled withdrawals direct to U .S. bank accounts from businesses, including American businesses. And kind of an amazing thing in that typically the user flow is withdrawing to some kind of centralized exchange and then moving to a bank account if the centralized exchange likes you. And I mean, I'm being a bit facetious there, but they basically took out that middleman, which I think a lot of people were excited about. And I would talk to the founder and he said people did funny things like they have to, you know, you're trying to control these assets as an organization. But then to withdraw, someone needs to withdraw to like an individual Coinbase account and then to some bank account and obviously there's a huge point of trust there. If the bank account is company controlled and the assets on chain are company controlled, but you have to go through a centralized exchange, it doesn't really work very well in terms of you have that whole intermediate stage where someone can supposedly take the money and run and crypto being what it is about minimizing points of centralization. It's beneficial to cut that out. So kind of a simple product, but interesting step in terms of allowing more frictionless interaction between the traditional financial system and the on chain one. And isn't that really what it's all been about for the decentralized ecosystem is kind of disintermediating these sort of financial system steps so that we can see less fees, code driven processes rather than centralized entity driven off processes, right? So this is just, I think driving some more of that utility that basic blockchain services provide down to that fundamental like TradFi player. Yep. Yep. And yeah, I think we've seen a lot of people knocking out small serviceable parts of the market where they see a snag and then they build a simple product to deal with a snag. I'm thinking of Synthetix's Infinex, which they announced last week, I believe, where they're trying to store the private key in the browser. There's a lot of technicality there, but the idea being that there's a snag in the UX and let's just tackle it. So I think the focus is also continually heading towards UX. So that's what I got out of that development. And we can move on to Lens V2, which Sam wrote, but Jeremy is... Yeah, I brushed up on it a little bit Lens V2. The latest iteration of the social graph from Ave announced July 15th. It's basically been upgraded with external protocols, apps, enabling two way interaction between any application and Lens. It's kind of a big deal. They're doing it with an open app actions feature, which is basically allowing developers to execute smart contracts from within Lens. And this allows them to mint NFTs, trade ERC20 tokens and enable cross chain interactions, which is pretty huge. Interoperability protocols are a good thing for the ecosystem, I think. The entire Lens V2 code base was rewritten and optimized for readability and open source contributions. So this is giving more flexibility to developers and Lens is, again, it's an Ethereum based social graph. It's aimed at decentralizing media, allowing people to utilize a Web3 native ecosystem. And we've seen a lot of fracturing in some of the social media empires that have come up and are sort of teetering in their towers. So Lens is out there competing with them and trying to build infrastructure that can compete. Another thing that Lens introduced was composability between ERC6551 NFT standard, which gives their own social relationships, voice and monetization opportunities behind their NFTs. And so Lens is pretty much seeing this upgrade. I think that it's pretty important in terms of what Lens could bring to the table. Pretty much the world is their oyster, especially when you see like Elon Musk and Mark Zuckerberg talking about fisticuffs and stuff, but their protocols are actually like having a lot of errors with them or struggling to maintain a user base, or in the case of Meta, struggling to have this existential reality come in here where it's actually something. So I'm looking forward to seeing what Lens can do. Yeah, it will be interesting. Everyone was talking about Threads last week, and I'm not sure what's happened to Threads, but I don't think people are talking about it this week. So we'll see. Go ahead. Sorry, go ahead. I was saying they might have lost the Thread on that one. Oh, nice. Zing, zing. Some color on Lens, I don't know, I met with Stani briefly, Stani to some, who developed the Aave protocol and also I think is, I mean, I don't know if he's technically the CEO, but he's involved heavily in Lens and he was decked out in Lens gear in SF. So I think he's living and breathing Lens at this point. So we have a strong leader in that category, it was nice to see. So anyways, just some color. And okay, so now we can move on to Polygon and they are continuing, they're kind of doing a month -long release of, I would say, I mean, they're basically revamping this whole idea of Polygon 2 .0. And so last week the big news was that the Polygon token, which ticker POL, they're converting Almatic to POL and they're presenting it as a, quote unquote, hyperproductive token, which is going to be used to validate potentially a bunch of different chains instead of just one. And Polygon is also venturing on this kind of multi -chain, multi -L2 future roadmap, which they're working on. And so this week we saw a revamped plan for governance. And I didn't write this story, but I think they're working on revamping what they're doing to manage the treasury. It's all up to the community. So we'll have to see where this goes. But that's their plan, obviously, as we've seen, the L2 ecosystem continues to heat up. L2 transactions are much higher than Ethereum main net ones at this point on the whole. And we're constantly getting new L2s all the time. I think we're going to, it almost feels like we're hitting a saturation point where we're you don't quite know what the purpose is and you don't quite know what the throughput is. And it's always easy to revert to infrastructure when you don't have users. And so I tend to think the more serious builders are ones working on the user experience at this point. But the L2s are coming fast and heavy at this point. So we'll see how Polygon develops as they build it out. Then they certainly have a strong business development team as anyone in the space knows. So we'll see where they go from there. I tend to agree with you two in terms of usability and capturing the user base by creating something that they can use. UX is where the next revolution of blockchain lies. That's just my personal opinion. No, no. But it's true. I mean, crypto has been around for a really long time. I mean, arguably, in a sense. And if it's going to serve some of the promise that people have espoused over the years, I think this is the cycle where you need real people, real normal people who don't care about blockchains or decentralization using these apps. I think it has to happen soon. Otherwise, I think crypto is going to be in a pretty rough place. Well, in terms of adding functionality to crypto, MetaMask Snaps is a much spoken of platform coming to MetaMask probably this year. And what it will do, and by the way, this is kind of an interesting thing here. What it will do is allow MetaMask to take custody of other protocols like Bitcoin. It will also allow developers to process APIs within the application, run applications within the application, so they can build these individual Snaps, as they're called, to serve specific purposes. Now, if you're a user, you might stack together different Snaps to get different functionality out of the MetaMask platform or application. So for instance, say you wanted to have some privacy. Well, there might be a ZK -SNARK Snap that you can roll up into your MetaMask program and there you can obfuscate your identity from the protocols you interact with. Or say you want to analyze what is going on with a transaction before you commit to it. Well, they have a Snap for that too that can run a simulation, find out what that transaction is going to do, and then give you a human readable output from the transaction data, which generally speaking, if you go into a MetaMask transaction and look at the transaction data, it's not decipherable to the common user. So this takes that indecipherable data and turns it into something that you can tell what's going to happen. This will avoid you getting rubbed or perhaps signing a contract that will send all of your US dollar coin to someone who want to. It can also track OFAC sanctioned addresses or any malicious blockchain addresses known in registries and things like that. The API integration allows developers to do some interesting things, including integrate AI directly within the MetaMask extension so that they can do a ton of different things. We're going to see this roll out later this year and ConsenSys and MetaMask are sponsoring this with some grants to partially fund developers to kind of incentivize the growth of this ecosystem. And while they're not actually creating any one particular index, they did give I think a $60 ,000 grant to an organization that's creating an index that just basically has a list of all the different snaps that you can get out there. It's an independent organization doing this, so there's no favoritism or anything like that. They have a fairly open means for you to get in. You can submit your snap to the org, you can audit it, and in many cases there are some requests for proposals for specific snaps. So you can get funding. There are some hackathons that have been going on. This has been introduced I think in 2020 originally, so it's been kind of going through the rounds, but they are getting ready to bring it to fruition this year. And I think that it's kind of huge considering the fact that now we're talking about interoperability and MetaMask, perhaps one of the most widely used Ethereum wallets from ConsenSys, is now taking on the capacity to custody Bitcoin. Kind of a big deal. So sorry, because I remember hearing about, I saw a MetaMask presentation about snaps maybe a year or two ago, or a year ago at Bitcoin Miami. So the high level is what? That people can put in these pieces of a program into the wallets to kind of build out kind of a more expressive experience than just sending transactions, approving transactions? Think of it like plugins. Yeah. So if you want a plugin that helps you analyze the transaction, you roll it up. If you want a plugin that helps you run AI before you do a bunch of perhaps hedge trading or something. Yeah, yeah, yeah. And they have ones that can do security too for analysis purposes or privacy. So as they add functionality, developers are going to have more tools at their disposal to be able to create more dynamic snaps, and then users can stack them in a modular way to fit their needs. Not every user is looking to do the analysis, and not every user is looking to do AI, and not every user is looking to operate in privacy. So there are various use cases that will dictate the use of snaps, I believe. Sweet. Yeah. It will be interesting to see. Yeah, I think the wallets are kind of going to ooze into identity solutions, and it will be interesting to see how those play together. You might have your... I mean, I love what the disco people are doing and trying to establish other non -financial credentials on chain, like age or something. I think that's going to be interesting. So, I don't know, having customized processes around your transactions, having more of a customized identity all linked to your wallet, which I don't even know if we'll call a wallet.
Conservatives Fight Secretive Biden Executive Order on Voting
"Federal agency more than 600 to register and mobilize voted the federal government is involved particularly people of color quote -unquote and others the White House says face quote challenges to exercise their fundamental rights to vote now it's no secret that people of color vote overwhelmingly for Democrat starting to slow down people are starting to stop and say what am I doing but it's still the case at least for least now so the Democrat Party that is Biden is using the federal Christine all the resources involved in that it further orders the agency's to collaborate with ostensibly partisan that nonprofits one paragraph I just read you should cause you to wet considering the order critics claim the Biden administration is stonewalled efforts to scrutinize its implementation they often ignoring document requests and litigation is shield relevant documents the critics including members of Congress state officials government watchdog groups say that Biden is attempting to federalize elections with an end run around the constitutionally prescribed state control over voting many cases using the resources of agencies with missions and related to registering voters some of the label the president's order Biden bucks evoking that box is meta CEO Mark Zuckerberg and his wife Priscilla chance funneling of over a hundred million dollars through to nonprofits into election offices across the country during 2020 the
Malinvestment Happens When You Create Trillions Out of Thin Air
"When there is a greater supply of interest to invest than there is a supply of good places or places of value to put your money, you get something called mal investment. Mala investment happens when you create trillions of dollars out of thin air. You invest in a bunch of garbage. Just today, meta, Facebook, slash another 10,000 jobs. Mark Zuckerberg has put a massive bet into the metaverse. Turns out it's a massive failure. People just don't want to put goggles on all day long and play in some sort of weird abstract world of poorly defined characters and figures. It's not a success. I'm sure some people like it. It sure is, it's been, you know, some people are looking at it, but it's by no means a profit driver for the company at all. Nothing even close. So mal investment occurs when you create these trillions of dollars out of thin air. And when you remove the moral hazard and people think they can be forgiven or bailed out, then what difference does it make?
Facebook parent Meta slashes another 10,000 jobs
"Facebook parent meta is cutting costs by cutting more jobs. Remember when meta the parent company of Facebook and Instagram laid off 11,000 workers in November now CEO Mark Zuckerberg says they will not be filling 5000 open positions and will cut another 10,000 jobs, met a share prices rose at the news and early trading, earnings of the California company have been hurt by a downturn in the online advertising market in competition from rivals like TikTok, meta has invested billions on developing what Zuckerberg calls the metaverse. He says the layoffs are in service of building a leaner more technical company. Other tech companies have been cutting costs, too, this month Amazon paused construction on its second headquarters based in Virginia, following the biggest round of layoffs in that company's history and shifting plans around remote work. I'm Jennifer King
US Senators Want Zuckerbergs Meta to Keep Teens out of Metaverse
"9 p.m. Friday March 3rd, 2023. U.S. senators want Zuckerberg's meta to keep teens out of metaverse. Two U.S. democratic senators have called on Facebook now meta founder Mark Zuckerberg to stop plans to open his metaverse. The post U.S. senators want Zuckerberg's meta to keep teens out of metaverse first appeared on many news.
Facebook Meta Announces Launch of ChatGPT Rival LLaMA
"7 p.m. Sunday, February 26th, 2023. Facebook meta announces launch of chat GPT rival Llama. After the triumph of chat GPT, Mark Zuckerberg has launched a new language model for meta. Both Google's barred and open AIs.
"mark zuckerberg" Discussed on Bloomberg Radio New York
"And you didn't say Facebook, which I thought was really interesting and also telling for one of your recent columns about Mark Zuckerberg. It is, but I mean, for anyone who's covered this company for its entire existence, you understand that the core business is still the business that makes money. And it's still the business that investors are punishing right now. Well, I mean, it's like speaking of potential CEO and competence. I mean, the crazy thing about the Elon Musk tenure is he's kind of made Mark Zuckerberg look good. And I feel like if Elon Musk had not had such a crazy 2022, we'd be talking about Mark Zuckerberg, how could somebody take this amazing asset Facebook is an amazing service, 3 billion people a day are using this thing. It's like half the world's population. It is a marketing engine like nothing the world has ever seen and Zuckerberg basically about a year ago decided, no, no, no, I'm done with that. We're going to have meeting rooms with no avatars in no legs. We're going to have Second Life, but Facebook version. And you know, people have responded to that kind of the way that you would expect them to respond to that, which is they don't care. And you know, Facebook spent all this money on Super Bowl ads. They ran a Super Bowl ad in February. Zuckerberg goes on the Joe Rogan podcast, you know, biggest podcast in the world, one of the most influential radio shows there is. No one cares. And we're talking about hundreds of thousands of people using this thing called horizon worlds, despite the fact that Facebook has spent, you know, something like $30 billion. And that, of course, has severely damaged the stock, you know, it's led to all sorts of questions about Mark Zuckerberg leadership ability because again, just like with Musk, you have this guy who is basically the absolute ruler of the company and suddenly, you know, maybe for the first time ever, seems not up to the task. And that is, I mean, that maybe that's one of the big themes of 2022. We've seen these kind of, you know, great leaders stumble in ways that they haven't stumbled before. Max, another theme of this past year has been the slump that we've seen in digital advertising. Is that part of the problem if we weren't in that slump in the economic conditions that have created that slump that may be meta wouldn't be in such a tough place that it would be better and we'd be all kind of more willing to deal with Zuckerberg. And there are other factors here, of course, you mentioned the slowdown digital advertising, you know, if Mark Zuckerberg right here, he'd be saying, you know, Tim Cook and coughing because of course Apple has changed a bunch of the rules around digital advertising ways that have impacted Facebook's business. Now, I do think that broadly speaking, though, what is happening is during COVID during the pandemic, there was a lot more usage of these of these digital services and digital advertising, you know, spikes, you know, suddenly partly because people are spending more time, partly because there was more money to be, you know, people were just spending their stimulus checks or whatever. And that has gone away. We're going back to something that looks like the way it was before. But like, if you're Mark Zuckerberg, the way it was before was pretty good. I mean, you look at Facebook in 2019 and that was a dominant successful company. And I think the argument that maybe they should have instead of investing or losing, really, billions of dollars on the metaverse, maybe they could have just, you know, tried to shore up the core business. That's something that you're seeing investors increasingly kind of bring up. Although again, you know, people still do believe in Mark Zuckerberg and you do still hear people talking about the promise of the metaverse. So, you know, it's possible that this thing will eventually come to fruition, although it has not been a good year for Zuckerberg. I'm cool with the metaverse as long as I have my avatar his legs. That's all I'm saying. I like my legs. Also check out max's had some great reporting on Sam beckman freed, FTX, including the FUD behind the crypto collapse. That was a really great story. Max Chapin, calmness for the magazine covering so many different things. And of course, all things tech max, thank you so much. Thanks for having me. You're listening to Bloomberg business week coming up, we hit the road with our Bloomberg pursuits team and check out some sweet rides and amazing art. We do indeed. This is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest sound on podcasts, Virginia congressman Don buyer gives his outlook for the 118th Congress. You know, we're not going to be doing things that are landmark breakthrough exciting. And neither party because of the split government. So we'll have to do a lot of things in the middle, which we'll move slowly in the right direction. I'm optimistic about the next two years. Speaking of the next two years, break some news for us here. Who are you putting your weight behind heading into 2024 is Biden the candidate? Well, if the president runs, I'm wholly with him, he certainly has a great record to run on. And the concern at 80, of course, is always going to be held. But I watched some shake hands for and take photographs to three and a half straight hours at The White House congressional Christmas party and key and Jill both will extent and happy. I want them to stay that way. Okay, well speaking of parties. 80 isn't what it used to be. Well, I feel like you are an amazing example of that because at your very young age, you are pursuing a degree in AI heading back to college. I wonder if you can talk to me about any resolutions that you have heading into 2023, whether that's on continuing your education or anything else. Well, my biggest resolution is to keep trying to build people's excitement that fusion energy. The energy of the sun, which we know about, but we had a breakthrough at large Livermore labs two weeks ago. If we can make fusion energy happen in the next 8 or ten years, it changes the world economy. It changes climate change, changes poverty. And one of the hopes is to use artificial intelligence as a way to manage the successes that come from the development of human made fusion. Get more of this and other conversations on the latest Bloomberg sound on podcast. Subscribe on Apple Spotify at anywhere else you get your podcasts. Plus, listen anytime on the Bloomberg business app and Bloomberg dot com. A city is parks. It
"mark zuckerberg" Discussed on Bloomberg Radio New York
"If you're Mark Zuckerberg, the way it was before was pretty good. I mean, you look at Facebook in 2019 and that was a dominant successful company. And I think the argument that, you know, maybe they should have, instead of investing or losing, really, billions of dollars on the metaverse, maybe they could have just tried to shore up the core business. That's something that you're seeing investors increasingly kind of bring up. Although again, you know, people still do believe in Mark Zuckerberg and you do still hear people talking about the promise of the metaverse. So, you know, it's possible that this thing will eventually come to fruition, although it has not been a good year for Zuckerberg. I'm cool with the metaverse as long as I have my avatar his legs. That's all I'm saying. I like my legs. Also check out max's done some great reporting on Sam beckman freed, FTX, including the FUD behind the crypto collapse. That was a really great story. Max Chapin, columnist for the magazine covering so many different things. And of course, all things tech max, thank you so much. Thanks for having me. You're listening to Bloomberg business week coming up. We hit the road with our Bloomberg pursuits team and check out some sweet rides and amazing art. We do indeed. This is Bloomberg. Bloomberg radio on demand and in your podcast D on the latest sound on podcasts, Virginia congressman Don buyer gives his outlook for the 118th Congress. You know, we're not going to be doing things that are landmark breakthrough exciting. And either party because of the split government. So we'll have to do a lot of things in the middle, which we'll move slowly in the right direction. I'm optimistic about the next two years. Speaking of the next two years, break some news for us here. Who are you putting your weight behind heading into 2024 is Biden the candidate? Well, if the president runs, I'm wholly with him, he certainly has a great record to run on. And the concern at 80, of course, is always going to be helped. But I watched some shake hands for and take photographs to three and a half straight hours at The White House congressional Christmas party and key and Jill both will fit and happy. I want them to stay that way. Okay, well, speaking of parties, 80 isn't what it used to be. Well, I feel like you are an amazing example of that because at your very young age, you are pursuing a degree in AI heading back to college. I wonder if you can talk to me about any resolutions that you have heading into 2023, whether that's on continuing your education or anything else. Well, my biggest resolution is to keep trying to build people's excitement that fusion energy. The energy of the sun, which we know about, but we had a breakthrough of large Livermore labs two weeks ago. If we can make fusion energy happen in the next 8 or ten years, it changes the world economy. It changes climate change, changes poverty. And one of the hopes is to use artificial intelligence as a way to manage the successes that come from the development
"mark zuckerberg" Discussed on Bloomberg Radio New York
"A Bloomberg business flash. Fairly pellet, thank you so very much. So no doubt, there's been a ton of layouts, particularly focusing on the tech space. What is different this time is a lot of CEOs of the companies that are laying off people are saying things like, I'm sorry, my bad. I take full responsibility. I can't tell if it makes things worse or it makes things better. Let's get some more insight here, with Joe Constance. She wrote a great article for us on the Bloomberg called the work shift reporter. All right, let's talk about the look behind it You lay off 11,000 people and then you say you're sorry. Does that count? You know, I think it's probably better than not saying you're sorry. I mean, when you started to be better, here's my zero paycheck for a couple years and I'm sorry. I had to let you guys off. Right. Yeah, I mean, I think that's the thing. It's cold comfort for a lot of people who are affected by this. And for those folks, I think, what matters a lot more. And in many cases, is what the severance package looks like. And what support they're going to be getting moving forward in terms of finding their next role. So I mean, I think there are a lot of other things at play, but I think Zuckerberg and many of these other CEOs who are going through layoffs for the first time in many cases are paying close attention to what their messaging looks like. And so can we talk about why they're saying, sorry, I mean, there's sort of the human side, which hopefully they are sorry for laying off all those people. But you also write that, you know, it could be a little bit of a recruitment strategy here, absolutely. So the folks I talked to I talked to Peter capelli, who is at the Wharton school and heads up their HR department or HR studies, and he told me part of it is definitely just the fact that the labor market is still very tight. And it's expected to rebound before too long and so the folks who are more forward looking and who are savvy in this way are thinking about their employer brand. They don't want to ruin it and they want to make sure that when the time comes to hire, they won't have that difficult of a time. Now that's interesting because there was also a theory that some companies wouldn't actually lay off workers because they were aware that the labor market was still so tight that if they needed to hire back, they'd be in a tough spot. But you're saying that for these tech companies, that's not the case, but they're just a little wary about how they're doing it this time. Exactly. I think the idea is, at some point, the market will turn around, but I think for tech stocks, in particular, with rising interest rates, their investors are just looking at they need profits now. They are not satisfied to be waiting for them to come at some far off point in the future. So for many companies, layoffs are a necessity that had count is the biggest line item costs. So, but they just want to be very, very careful about how they're doing it. So that it doesn't hurt them in the future. Let's compare and contrast some company leaders here because you have Mark Zuckerberg on one end of the spectrum saying that I'm sorry. Issuing a sort of mea culpa and then you have Elon Musk and I don't feel he's been quite as contrite. Absolutely not. So he was a bit of the foil in this story and we actually wrote another piece. I wrote one with my colleague Matt Boyle on the work shift team and we looked at the parallels between Elon Musk and Jack Welch, who is famous for implementing mass layoffs as a business strategy. And so, and both men really contrition was not really their thing. You know, they're pretty ruthless in the way they went about it. And so that's certainly the case. And there are a lot of people who think that it may come back to hurt Twitter in the future. The reason why I'm just really struggling with this one this time is because of why they had to say sorry to Katie's point. Like it's not like all of a sudden there was a massive economic downturn. And then everyone had to get laid off. It's that they also just made bad calls. Like Mark Zuckerberg has spent too much money on meta and just misread what investors want it, for example. They just spent too much during the pandemic. They grew too fast. And now this is the blowback. Right. I mean, I think that's true. And I think a lot of them are taking accountability for that. I think in an earlier time, folks may not have taken accountability for that. Part of a perk of being CEO is not having to say sorry. For a lot of people, but yeah, that's true. I think that's a big part of the narrative here. All right. Great stuff. Great article. Definitely check it out and read it. Joe Constance, joining us worked shift reporter for Bloomberg news. I mean, to be fair, some of these places though, the severance isn't bad. I wasn't meta Kati, I think was looking at like 16 weeks and then two weeks for every year that you were. You know, I'm just saying like, okay, that's different than all of a sudden you're being told on Friday that you can't come in on Monday and you no longer have availability to slack or something. Oh yeah, no, I agree. At least the severance packages are generous, that helps maybe more than sorry does. I'm thinking, I'm thinking so. This is Bloomberg
"mark zuckerberg" Discussed on Bloomberg Radio New York
"Trading. Let's get you up to date on the news you need to know at this hour we continue to watch shares of meta platforms this morning. They are down almost 20% after the company gave a disappointing outlook. It also revealed ballooning costs to fund its virtual reality project the metaverse. CEO Mark Zuckerberg pleaded patience on a call with investors. I think we're going to resolve each of these things over different periods of time. And I appreciate the patience. And I think that those were patient and invest with us will end up being rewarded. Mark Zuckerberg says that his long-term bets will pay off, but he didn't explain further. While sticking with big tech Nathan, we get two massive earnings reports after the bell today when Apple and Amazon report and looking at Twitter, Bloomberg news has learned Tesla CEO Elon Musk, who is set to take over the company tomorrow, told employees he does not plan to cut 75% of staff as previously reported. Bloomberg's Ed ludlow has more. He didn't explicitly rule out layoffs generally speaking. He walked in to the market street office carrying a kitchen sinker there and I think that the joke was this is really happening. We should all let that same again. And Bloomberg said ludlow says Elon Musk will meet with staff tomorrow when his $44 billion deal to buy Twitter is set to close. Now turning to markets this morning, Karen futures are mainly higher as earning season continues, notorious bear, Mike Wilson, says his team at Morgan Stanley thinks the downward trend in U.S. equities could conclude soon. We're still bearish in the intermediate term. We don't think the bear market is over, but we do think this tactical rally is going to be big enough to try and pivot and trade it. Morgan Stanley, chief equity strategist, Mike Wilson says that outlook could still change. Traders will also be watching economic data closely. We get a reading on third quarter U.S. GDP at 8 30 a.m. Wall Street time. While over in Europe, Nathan banks are in focus with Credit Suisse down more than 12% after posting its fourth straight quarterly loss, the bank also unveiled a massive turnaround plan that includes a multi-billion dollar capital raise, a carve out of its investment bank and massive jump cuts, CEO Ulrich kerner spoke with us about the plans. We want to go through the transformation of the next three years with a very, very strong capital base. It will become profitable definitely from 2024 onwards. CEO kerner says Credit Suisse plans to be profitable again starting in 2024. And another note from overseas Karen, the European Central Bank is expected to lift its main interest rate today to the highest level in more than a decade. Stay tuned for complete coverage of that announcement. It's coming up this morning on Bloomberg surveillance. And S&P futures are higher up four points this morning, down futures up 116, monastic futures are lower down 37. The decks in Germany is down half percent now, ten year treasury down 1430 seconds yield four 6% and the yield on the two year 4.44% and IMAX screwed oils down to 10% or 16 cents at $87 75 cents a barrel. Straight ahead, your latest local headlines plus a check of sports, and this is Bloomberg. Thanks, Karen, 5 33 on Wall Street 58° in Central Park heads up. We got an overturn tractor trailer westbound 80 at exit 35 in rockaway, and Michael Barr is here with
"mark zuckerberg" Discussed on Bloomberg Radio New York
"Plays and the MLB integration for the TV plus app. So clearly they are pushing clearly they are collecting data, right? So Apple is collecting data on users. They say, however, they are following the same protocols. They are requiring from developers to. But that is definitely something to take a look at and definitely something we'll reexamine once these new advertising slots hit Apple maps, TV plus, and other Apple software in the future. And we'll see the difference in the technology they're using between meta and Apple. And if Apple really is taking a different standpoint and using different methodology, they say they are, everything we've seen so far is that they are. And at this point, we have no reason not to believe them, but clearly it does seem a bit hypocritical on the surface. Okay, Mark gurman, as always, thank you. I want to continue this conversation now with tech economy founder, David kirkpatrick, of course, who wrote the book. On Facebook back in the day, David, when you look at these recent meta numbers, you hear about the changes that the impact that a company like apple is having, does it just boggle your mind how different meta is today than the company that you started covering what now 15 years ago? It's shockingly different, but it's shockingly different than it was a year ago as Jasmine and Edward was saying earlier on your program, it is amazing to think of the essentially steady decline this company has experienced in a lot of different ways ever since they changed their name and declared that they were preparing for the metaverse future. It is really stunning though looking at what's happened today. I mean, the stock was down 60% before today's action and today, since this morning, the stock is down more than 20% in one day. And last I checked after hours, it was still declining. It was a 108 something, just a second ago. This is a company whose stock was 380 something very, very recently. It is just stunning. I mean, but I think a lot of it can be traced to essentially an absence of governance that they just most companies have a more collaborative managerial approach where a board actually gets to tell the CEO what they think. That is not the case here. An absence of governance or an over ambitious overreaching Mark Zuckerberg. Well, obviously those two things go together. Mark Zuckerberg is a brilliant leader and a great product person and I think really a genius in many ways. But he is obsessed with the wrong thing. One of the other things that Jasmine and Bert said that I thought was really interesting was this idea that a lot of social media innovation is underway right now. But so what did this company do? Instead of trying to innovate more in social media, they decided to innovate in something completely new. If they had been spending all this money, they've been spending on the metaverse to try to come up with new social media products, especially at a time when they're not allowed to buy anything by regulators. That would probably have been a way more advantageous approach and much more acceptable to investors. Got to ask you since we saw Elon Musk walking into Twitter headquarters today with a kitchen sink and Twitter could be a private company in 48 hours. How do you think Elon Musk and Zuckerberg, who actually, I know, they don't like each other very much, but interesting I'm curious how you compare their approaches. Well, you've got to give must credit for having a sense of human. I mean, the kitchen thing could mean. But is this, is this in good taste, not that, you know, he's known for that. Especially in 75% of the company. You're going to lose their jobs. Well, that's true. Look, I'm not saying you should make light of the fact that possibly thousands of people at Twitter are going to lose their jobs. I absolutely don't think that. But, you know, business is generally too self important and has two grave of a view itself. And this is an aspect of Elon Musk that I actually kind of appreciate. He tries to just be an ordinary person going about his day, you know, changing the world and buying companies for $45 billion. So, you know, it is amusing. You can't deny, there was an interview in the Financial Times over the weekend where he was asked, what are you doing? And he said, aren't you amused? That was his response. He wants to amuse us. And look, it is at the cost sometimes of some serious people that have real consequences. But on the right, and it's not just the people. The people, which are really important, what about public discourse? Are you at all concerned? The future of public discourse is not a joke. And treated like a joke, right? It's impossible not to be concerned, but we really don't know what he's going to do. He said so many different things. A lot of them are in practical. Some of them, as I've mentioned on the show before, are appealing to me like giving genuine identity to users. I don't view it as a potential unmitigated disaster that Elon Musk might control Twitter. It sounds like an idiotic disaster to lay off 75% of the employees because I can't imagine the company could continue operate responsibly if that were to occur. And I honestly don't expect that to happen. It's the kind of thing he says shooting from the hip, you know, will have to watch. You know, the Twitter is a company that needed radical surgery. They're certainly going to get it. I don't think any of us can really know what happens next. Even hila. It's all gonna sink in over time, David. We are not gonna let the sink puns go. David kirpatrick tech economy founder, as always, good to have you. Coming up. How
"mark zuckerberg" Discussed on Bloomberg Radio New York
"Businessweek. Well, Mark Zuckerberg has his legs in the metaverse. He does. He and one other person. You know, you gotta be controlling shareholder of meta platforms to get legs in the metaverse. Her legs are really hard. Yeah. Metaverse. I mean, what Facebook is doing is really hard and investors are punishing it for it. All right, we're going to talk about the virtual society. We've got a great guest coming up. Author of a new book. Also runs his own company. It is called improbable. Improbable. So we're going to get to him in just a moment. First up, though, back to your top business story. Some of the news after the close and Charlie. Indeed, it's a story you guys broke roughly 20 minutes ago Applied Materials were watching that stock it is down now by just about 1.85% applied aim at is the biggest maker of chip manufacturing equipment, it has slashed its forecast for the fourth quarter saying new export regulations will hurt its sales to China. The company estimates that rules will reduce sales by about $400 million in the period again Applied Materials after ours now lower by just about 1.8%. Turned out to be a down day for the Dow, the S&P and nez stack, if you had tuned in throughout the day, you would have told us that so you would have heard us tell you that stocks were higher in the end though late day fade and a move lower S&P down 11 drop there are three tenths of 1%. The Dow down 28 a decline today of one tenth of 1%, NASDAQ lower by 9, a drop there of one tenth of 1%. Stocks ended little changed, a brief afternoon advance faded, as investors brace for tomorrow morning's reading on consumer prices. Now, what about the market backdrop? What about the Federal Reserve? Victoria green as chief investment officer at G scare pro G squared private wealth and she was our guest right here on Bloomberg business week. Too early for a pivot. I actually have been saying the pivot is dead. So everybody that's hopeful for a pivot is like wishing for that sold out toy on Christmas. I really don't think you're gonna get it I'm sorry. I wish I had better news, but I don't think it's coming. And right now we do have the ten year yielding 3.89% to your yielding 4.28% spot gold up four tenths of 1% 1672 the ounce, West Texas enemy crew down two and a half percent, 87, 11 a barrel. After the bell we heard from duck creek and it is forecasting revenue for 2023, the guidance did beat the average analyst estimate duck creep right now is trading unchanged. Again, just
"mark zuckerberg" Discussed on Bloomberg Radio New York
"Almost 6 38 on Wall Street. I should say it's time to take a look at stocks, some of the names moving in the pre market for that. We're joined by Bloomberg markets live editor, Heather Burke, and of course Heather one of the biggest laggards this morning is Nike after those very disappointing earnings. Yeah, definitely. I mean, inventory surged and it was forced to push through market busting discounts that hurt their profitability. So it was the higher freight cost markdowns and foreign exchange effects. So the gross margin of 44.3% was below Wall Street expectations. And Nike also downgraded its outlook for the full year. So the shares are down about 9% in pre market trading. And European rivals such as Adidas and puma have also been hurt. So yeah, it's definitely we're going to see some downgrades come through. I would be sure today. I will continue watching those and some of the competitors as well in the sports apparel space. How about this other big corporate story that we got yesterday about Facebook parent meta platforms cutting jobs for the first time? Yeah, so it dropped 3.7% yesterday. It looks like it might be trying to come back a bit pre market. And interestingly, ExxonMobil overtook it in market value for the first time since early 2017. But what made us doing Zuckerberg CEO Mark Zuckerberg outlined plans to reorganize and reduce headcount for the first time ever? It would be the first major budget cut since Facebook founding in 2004. So he said that made us probably going to be smaller in 2023 than it was this year. And how are the shares doing this morning on that news? Yeah, it looks like they're trying to come back a little bit, but we'll see. You know how volatile big this week? Yeah, certainly has. And staying in the tech space, we got earnings as well from micron technologies, how are things looking in the chip sector? Yeah, so micron actually had a pretty dismal report. It's flashing production to cope with the steep plunge in demand. Quarterly, forecast quarterly sales that were nearly 2 billion below Wall Street. That being said it's up about 2.9% in pre market trading, analysts saying the ongoing inventory correction was just short term. And there's a sign that maybe semiconductor stocks have bottomed a sentiment is going to get better. All right, Bloomberg markets live editor Heather Burke keeping an eye on the early trade forest this morning Heather, thanks for this. And as we look at stocks as a whole as we get ready for the final open of the third quarter, futures are moving higher
"mark zuckerberg" Discussed on Bloomberg Radio New York
"In late trade as the company reports first ever sales decline. CEO Mark Zuckerberg thinks the economy is slowing. We seem to have entered an economic downturn that will have a broad impact on the digital advertising business. And it's always hard to predict how deep or how long these cycles will be, but I'd say that the situation seems worse than it did a quarter ago. This got an 8 a.m. across the Emirates on this Thursday, I'm used to commending in Dubai. So we had a few hours to digest the announcement and the press conference from the fan. We saw U.S. equity surge higher now. Let's put this in context in May and June when we had a strong reaction post fan. It was almost always met with a sell off the day after to the same magnitude. At the moment on the S&P 500 mini, we're looking to continue that narrative down a 5th of 1% on the futures. We are also looking ahead to some important earnings. Mehta just reported their numbers. We still have Amazon and Apple in the pipeline $9.4 trillion of results, lumen, a very important test for this market. The U.S. sends a two 78 31. Traders dialing back some of the fed tightening bets is a bit of a recalibration that's also extending to the FX space where we're seeing Dolly in it focus and we're seeing Euro dollar in focus. The end climbing to the strongest level in three weeks and Brent crude up 8 tenths of 1% stockpiles a little bit lower. The official data came out in the U.S. export sword. I want to get to an important graphic as we analyze the implications for the road ahead in terms of fed funds futures. And the folks at city are saying they are reading the press conference is more hawkish than the markets interpretation. Food and energy is eventually going to push the fed to more aggressively tighten than the market anticipates you're looking at 75 basis points of a move in September. The current price is moved back into about 60 in September followed by 28.7 in November. These are averages, of course, and then in December with 11.6 basis point of a move. I want to fit the board one more time and get you a sense of how far reaching the risk appetite resurgence is and it's also extending here to some of these metal plays, including steel and iron ore intraday on iron ore, we're up about 3.4% in Singapore trade. Let's stay with this theme in Asia for a second and see what else is moving there at Jules joins us from Singapore, Jules. Hey, Yusef. Yeah, it is, as you say, all about this recalibration and the likelihood of slower rate hikes from the fed really boosting sentiment today. So you do have stocks appear bonds a bid and the dollar lower, as you mentioned, and not so more specifically being reflected in the Asian session, then that big move that we had in the Japanese yen a couple of hours ago. It is off those highs now. It did spike by around 1% against the greenback, but as you pointed out, it really is this three week high and we're starting to see a few calls come through as well as whether or not the dollar has peaked out against the yen for 2022. The Aussie also holding near a 7 week high as we continue to see dollar weakness. The other key focus we are watching in on is these Chinese tech players. You can see the hang seng tech index. Up by about a third of 1%, so off earlier sessions, but certainly the moves that we have seen in these growth players being reflected and we've heard from both Goldman Sachs and Credit Suisse saying that the long awaited recovery in Chinese textures may finally be on the horizon. Let's have a look at another big tech player in the region that is Samsung that came through with its numbers today. The quarterly profit did miss estimates this is after a little bit of cooling demand for consumer gadgets that hit its chip division. This is also just spurring these concerns about big tech for the remainder of 2022, but Samsung shares have been moving higher in the sole session. And essentially, as you can see on my chart here, we are continuing to see Samsung the cheapest level in around four years, so it's a forward P E ratio dropping below those lows we saw in the height of the pandemic use of. Yeah, my Samsung fridge has been around for ten years. I'm sure that doesn't make a difference to their bottom line joules. We will catch up again later on in the hour. It's a Juliet solid there. So the fed has delivered a widely anticipated 75 basis point Wayne hike and signaled increases will continue until inflation is clearly heading back down. And we're strongly committed to returning inflation to our 2% objective. As the stance of monetary policy Titans further, it likely will become appropriate to slow the pace of increases while we assess how our cumulative policy adjustments are affecting the economy and inflation. We anticipate that ongoing increases in the target range for the federal funds rate will be appropriate. The pace of those increases will continue to depend on the incoming data and evolving outlook for the economy. I do not think the U.S. is currently
"mark zuckerberg" Discussed on Bloomberg Radio New York
"You're listening to Bloomberg opinion on Bloomberg radio I'm June grosso Late last year Mark Zuckerberg announced Facebook would be rebranding changing the company's name to meta Our company is now meta Our mission remains the same it's still about bringing people together Our apps and their brands they're not changing either And we are still the company that designs technology around people Zuckerberg is hoping the metaverse will become the leading virtual experience platform But Bloomberg opinion columnist parmy Olsen says although the metaverse was painted as a harmonious virtual world of social connection it's turning into a safety nightmare How safe is the metaverse virtually speaking I think the companies who make virtual reality services would say it's very safe but people who have been into the metaverse have had some pretty uncomfortable unsafe experiences And women in particular seem to have been a victim of incidents of harassment In the last few months we have there have been reports of a beta tester with Facebook who was virtually groped by a stranger and another woman who was gang raped within 60 seconds of entering Facebook horizons venues which is their app for mingling with people in virtual reality So some pretty horrible incidents have happened already Doesn't the personal boundary tool work Yes you're right to bring that up So Facebook AKA meta platforms introduced a personal boundary tool a couple of weeks ago where you can create a boundary of about two virtual feet a radius of two feet around you to stop someone from coming up to you And as far as I understand that does work but some of the people who have looked at this and from the technology side say first of all that should have already been designed in And second of all a boundary tool can be used It can be misused So if you have a group of people who want to block another group of people or a person they can all create their boundary tool and potentially block someone into a corner And that's something that's happened in other games in the past This isn't the first time a company has had to create This has been an issue in gaming for some time So this is an issue that Facebook is having to continually iterate on and develop for Tell us how Facebook has grappled with building safety features into the metaverse before Well I spoke to an engineer who was building virtual reality products with Facebook up until 2020 And he was saying that one of the first products that Facebook had was called Oculus rooms and that was where you could meet with a friend or family who also had a virtual reality headset in like a virtual apartment and have a party The problem with that was that there was no growth there You could only is very unlikely that you knew someone else who also had a headset So they had to create a space where strangers with virtual reality headsets could mingle And that happened sometime around 2017 when Facebook started building The engineers there were having a lot of conversations about safety But not all ideas were implemented So the engineer that I spoke to warned managers that actually avatar should disappear when they get too close to one another or fade to disappear And he was really a strong proponent of this idea but it was actually never implemented I found this really interesting a criminologist told you that people have almost certainly been harassed at a criminal level in virtual reality already Explain what she means This criminologist I spoke to did surveys of teenagers and children just to ask them if they actually knew the law around behavior online Like if you were trolling someone at what point does trolling where you're messing with someone essentially what point does that become harassment At what point are you actually breaking a law And she put to people quite a number of different scenarios and was really surprised how often people just didn't realize and kids in particular just didn't realize that certain things people were doing online was law breaking And the criminologist I spoke to is that just based on the incidents that have been reported publicly that we know of strong indication that there have been harassment incidents that already breaks some kind of law whether it's in the UK or in the United States or wherever the user is based How much is the centralized decision making structure at Facebook contributing to this problem It's hard to say that it's contributing but one argument or solution that is being proposed is to decentralize the way that Facebook moderates behavior For example Facebook could learn a lesson from some very popular online games There's an online game called eve online where they have elected council volunteers who talk to the developers of eve online regularly about ways that the space could be safer for players And it's kind of distributed this responsibility for moderating behavior and content in the game And it actually works very very well I mean it's not perfect but it works well One of the engineers I spoke to suggested that Facebook really rethink how it does governance and how it does moderation and not completely be in control of how behavior is moderated But give out some element of control to users Because when people interact with each other in virtual reality that's very different to just talking on a website in a text based forum like you would already do on Facebook This is literally humans interacting and it would seem that people who are part of that will want to have more say in how that behavior is governed and moderated Now Microsoft is taking a serious stance in this area Microsoft announced that they were actually shutting down some of their social VR platforms There's a really nice kind of sophisticated platform they have called campfire which I visited myself a few times It had quite a lot of people and it's very nicely put together I think in response to these incidents of harassment that are cropping up Microsoft is shut it down It sounds like they're kind of doing a real rethink on how they design these environments rather than just kind of trying to throw in various safety features So maybe Facebook should learn a lesson from Microsoft I think Facebook does need to learn a lesson from Microsoft in that sense I think that kind of radical.
"mark zuckerberg" Discussed on Bloomberg Radio New York
"A Bloomberg business flash Thank you so much Charlie pellet Let's get right back to Eric Schmidt the former Google CEO and chairman also the cofounder of Schmidt futures He's also the co author along with doctor Henry Kissinger and Daniel Hutton locker of the age of AI and are human future Eric I want to talk about the metaverse in the context of last week's rebranding of Facebook Now Facebook is known as meta platforms Inc Mark Zuckerberg said last week it's now a metaverse first company Indeed if you open up Instagram now it says instead of saying Instagram by Facebook it says Instagram by meta What is the relationship between AI and the metaverse Well the metaverse needs to be defined As you know the term was coined in 1992 by Neal Stephenson in a famous science fiction book And most of us think that the metaverse is a world where sort of similar to the movie ready player one where you would move into a digital world that's smarter more beautiful faster It's more fun It's really enjoyable Facebook has not built that product yet And so we have to assume that their direction But it seems to me that naming the changing the name of all of Facebook which is a 100,000 people in an enormous business based on products that have not been announced yet is a pretty big decision and we'll see Let's see how the products play out Yeah I can't wait to see how that plays out at Facebook Now meta and I love the movie ready player one I don't know if I would want to live there though but it's interesting following this announcement from meta Facebook I mean you've seen Microsoft detail their plans for the metaverse or their ambitions there Nvidia sword today after Wells Fargo said that there is an opportunity for that company in the metaverse Is this a new buzzword I mean are we going to see every company try to jump on this bandwagon Well I think I would rather have them go back to hype AI because AI that is transformed their businesses in an enormous way What I think of as a something very interesting and very powerful it's a natural next step I've been involved in various projects associated for more than 30 years perhaps it's time has come I was in a meeting last night where one person said that what will happen is Facebook will use its significant cash and engineering resources to build this world using its identity services and so forth and so on But that there will be a competitor set of meta verses that will be based on technology known as web three which is a crypto platform which has different economics different power structures different leaders I think we don't know who the leaders are going to be What's exciting about this metaverse idea of once again the marketing ahead of the reality is that it's another example of how the industry moves forward In our book we spent an awful lot of time talking about this new set of platforms that are being built in AI and their impact on society The metaphors if it is successful and if we understand ultimately understand what it is may have huge impact on our education systems the way we live and so forth It doesn't mean Facebook will be the leader but probably somebody will be the leader in that space Well speaking of Facebook in the wake of Facebook's rebrand to meta platforms a lot of the commentary is focused around the Facebook brand and the idea that it's under scrutiny from Democrats and Republicans over what it did in terms of censoring or not censoring content or promoting hate speech on the platform our audience is very familiar with the articles that came out as part of the Facebook papers recently Eric I'm curious because you're widely viewed as coming in as the quote adult in the room when it came to Google I'm wondering if Facebook needs an adult to come in right now Well in fairness to Mark and his team they're now proper adults Maybe they were young when they were founding the company But they've earned the right to drive in the way they are I think we can debate their decisions One way to understand the problem on social media is you want to maximize revenue And by maximizing revenue the best thing to do is to maximize engagement By maximizing engagement the best way to do that is without rage So guess what You get more outrage because outrage drives drives attention attention drives revenue and the companies are seeking that And the AI systems are optimized for that You shouldn't be surprised we got what we got When I was CEO at Google we faced similar choices that we made a decision which was a collective decision that we would take some of the gains to revenue but some of it to quality That's a different company's decision If I were doing Facebook today I would have a hard decision in front of me which is I want to improve the quality of my users experience and frankly peddling misinformation and manipulating people is not a high quality outcome They've got to figure out a way to address that They don't They will eventually face some form of regulation Eric Schmidt thank you so much for joining us on Bloomberg business week His new book the age of AI and our human future co written with Henry Kissinger and Daniel Hutton locker Eric Schmidt the cofounder of schmid futures and former Google CEO and chairman Now a check of world in national news with teams Pellegrini All right well we have this hot head just crossing the terminal now Portugal plans to hold snap election That'll be the end.
"mark zuckerberg" Discussed on Lovett or Leave It
"I'm evan hansen. But the twist is. I'm young amazing. Song was performed by map boo shell and written by our own brian semel. Who's on vacation on the mediterranean. That's real if you have a live or else theme song. It to us at leave it at crooked dot com. We've got an extremely yuki spooky episode for you filled with ghouls and goblins and terrifying frights. Sent shivers up your spine but enough about mark zuckerberg in that meta announcement video. What are we. Were in more of your stuff on the show this week. Did you ebay. Some ancient political ideas back from the grave meghan gaily warns parents about the dangers of trick or treating rory scoville updates us on the global supply chain and cara clank takes us inside the spookiest papers of all the facebook papers. Oh yeah by the way. If you wanna pumpkin take one with you at the end of the show. That's also that's handwritten here but first let's get into it. What a week on wednesday paid parental and medical leave were dropped from the build back. Better plan in an effort to secure joe mansions vote initially binds plan for twelve weeks of leave mansion countered with four weeks as a result. Democrats are planning to lose it. Entirely so of you are angry teen in the year. Twenty forty please remember. You're not actually mad at your parents. You're mad at joe. Manchin based on the revised framework biden revealed. Today the white house says climate change spending will approach five hundred or five hundred fifty billion dollars the largest investment in clean energy in history. Talk show pause for applause for the biden plant to put that money in terms of twenty-fifty money. The spending will approach sixty gallons of drinkable water. Because about bad things will be by then because of the climate change in addition to the historic investment in clean energy framework also contains childcare and the childcare tax credits housing vouchers and healthcare proposals from bill. Back better. unfortunately the bill has lost family and medical leave free community college as well as lower drug prices and the expansion of medicare coverage for vision and dental. It is like joe. Manchin and kristen cinema have been making us play the worst game. Would you rather and human history. You can have a world less ravage by climate change but no teeth. Do you take the deal. Do you take the deal. You have to give birth at work but no one can see. It spoke this week. Rolling stone reported that multiple january six protesters met with republican congress. People dozens of times in planning meetings ahead of the capital riot at first the insurrection coordinated but given how often they met it sort of seems like they didn't get enough out of these planning sessions. Randomly fanning out is no way to hunt and murder. Mike pence who was the project manager some loopy dentists from arizona. Turns out it was said one organizer. I remember marjorie taylor green. I remember talking to probably close to a dozen other members at one point or another or their staffs in another quote they allege we would talk to bogaerts team call thorns team go search team like back to back to back back to back with madison cawthorn. What's the fun in that twist. That's about how hot is check. Your priors bumi. All you want. That just means ghosts are here. Moreover the planners claim they were told by representative paul gosar that protesters could receive a blanket. Pardon if they're arrested during the riot protesters took blanket. pardon for a potential reprieve from trump. But it was actually just a discount code at my pillow dot com this week. The state department issued the first united states passport with x. as a gender designation pronouns are. I've been stuck in this line for three days. Please god help me. I don't wanna go to this wedding. Their wedding website says mexico has always held a special place in our hearts and we want to share it with you but their last names are stein and jensen and they grew up in park ridge illinois. A committee in the brazilian senate has issued a report. Recommending brazilian president j or bolsonaro should be prosecuted for crimes against humanity for his refusal to address the cova one thousand nine pandemic which has killed over six hundred thousand people in brazil. Damn your senate sounds awesome. But can they pass a bill formally denouncing racism by a slim margin in florida governor. Rhonda sanchez is offering police officers resisting vaccine mandates across the country. Five thousand dollars to relocate. You stay promising. We'll treat you better here. But of course rhonda santa's a typical politician is playing both sides. He's also offering corona virus. And all you can eat buffet of unvaccinated cops for just five thousand dollars. The governor of florida announced a plan and the plan was send us the worst cops. You have the absolute worst ones. The ones who think the laws are meant to bind. Everyone else but them. That's who we want here in florida. This nightmare. mad. Max thunderdome hell scape. That is our swampy state is not scary enough. We want to bribe the worst cops in america. The facebook papers internal documents reported by a consortium of seventeen news outlets revealed even more inner turmoil at the social media giant and its failures in a number of crucial areas like stemming vaccine misinformation shutting down pages conducting human trafficking in two thousand nine hundred nine. We learned apple even threatened to pull facebook and instagram. Out of the app store over a bbc news. Report revealing that facebook's failure to address human trafficking on its site in the end. Facebook complied an apple. Back down. apple is knocking to remove facebook for human trafficking unless it gets really serious like inept trafficking purchases not leading to apple getting cut. This is in fortnight. The stakes are much lower so barely a joke. Just kind of meandering. Twist of whose side my on that started out about facebook but it was a jab apple twist but don't worry on thursday. Facebook changed their name to meta as in your uncle. Ritchie never met a q. On post he didn't like and can we talk about these videos remarks berg. Let's roll that beautiful bean footage now looking at and reporting on our business as two different segments one for family of apps in one for work on future platforms and as part of this. It is time for us to adopt a new company brand to encompass everything that we do to reflect who we are and what we hope to build. I am proud to announce that starting today. Our company is now meta week to rebrand to. This is the perfect time. Hey i was just reading about facebook patients nightmare factory in literally every newspaper. I can't wait to see how they apply their core philosophy of don't worry about it and woopsie daisy. We did a genocide to even more aspects of human society. That's the core philosophy whoops z. z. We didn't speak that language and all those people died dark per new details released as part of her trial is a bit homes and theranos allegedly one hundred million dollars from betsy devos family. Who invested into now disgraced company elizabeth homes. Welcome to the resistance. I'm just gonna sit down for the next this. You're it a second. And then he says kids age five to eleven and get their cova shots. Early november finally school shootings. We can root for. And i knew that's what you do and what you're upset about is the reality of our circumstance. That's not mad at me. That's mad at life itself zone. Boo goes votes and finally a missing hiker admitted that they ignored calls.
"mark zuckerberg" Discussed on Daily Tech News Show
"Facebook stopped being facebook and changed. Its name to meta m. e. t. a. seems obvious. In retrospect now the social network will still be called facebook. So i saw somebody say we're not gonna stop calling facebook. Keep calling the social network facebook because it will continue to be called facebook. The company that owns facebook and reality labs and instagram and oculus will be called meta. Ceo mark zuckerberg said from now on. We're going to be metaverse. I not facebook. I so for those of you keeping track facebook is youth. I two now and meta is metaverse. I which. I don't know where that leads the youth that also means the end of the oculus brand name to andrew bosworth wrote on meta's facebook social network starting in early twenty twenty two. You'll start to see the shift from oculus quest from facebook to meta quest and oculus app to meta quest app overtime meta spend most of facebook connect trying to explain its approach to the metaverse. Medicine mark zuckerberg said. It's not a thing that accompany builds. It's a broader platform. That i think we're all gonna contribute towards building in a way that is open and interoperable. That's what you wanna hear He talked about the metaverse. Being a place you're in now looking at so. He's like that really going to be that different. It's just you're going to be immersed in it you're going to be able to be inside instead of looking at it. They're a screen. Like you do now. Reality labs head. Andras pointed out that the metaverse will not exist. Just in vr either but it will be better in vr and ar Before we get to the announcements justin. What do you think of them. Changing the name. Which i hasten dad is not a restructuring like alphabet alphabet actually restructured google to be a new organization. This is really just a name change. Yes it's a fine name. Horizon was supposed to hint at the idea of the metaverse. We knew that metaverse was. They were very very focused on meta works. I guess that makes mark zuckerberg a ceo. Which i think is kind of funny. I do think that it is a mistake to lose the oculus. Branding oculus to me was the first breakthrough. Vr device that you could just hand anybody and because of its room scaling. It worked right off the rack. I do think that that is a mistake to not continue with oculus. That was a great brand name. Yeah and now it's a medicalised. Take a minute all right. Let's get to the announcement. Horizon home is going to let you use a medical to hang out in vr space. You're embodied as an avatar in a virtual home where you can watch videos and launch apps play games. Do all that with your friends is getting to the apps slack. Dropbox facebook and instagram. The work has to d- panels in your virtual space. I are in the oculus store now using progressive web app standards..
"mark zuckerberg" Discussed on Bloomberg Radio New York
"Think that maybe this time around There might actually be some because as you know Emily we haven't really seen a lot of actual punishment for Facebook for other things that they've done in the last couple of years Take a listen to what Francis Hogan had to say about Mark Zuckerberg in particular I thought it was pretty powerful She indicated no matter how many people are involved in any specific initiative at Facebook the buck stops with him Listen in Markle is a very unique role in the tech industry and that he holds over 55% of all the voting shares for Facebook There are no similarly powerful companies that are unilaterally controlled And in the end the buck stops with Mark What do you make of the fat Kurt that we haven't heard from Mark Zuckerberg Yeah as this scandal has continued to unfold Yeah I mean it is relatively striking He's not only having not heard about him really address it too seriously He's actually kind of been going out of his way to post things to show that he's not really worried right He was out sailing This weekend a lot of senators pointed that out I do think it's telling I also think it's telling to kind of a change in strategy Now if you'll recall around Cambridge Analytica around the election mark was very front and center He was always out apologizing and he was posting and trying to defend Facebook quite often And my understanding is that you know there's some frustration because I don't think that really worked I don't think people heard from him and said okay we're going to think about Facebook any differently So I think their approach has been well it putting mark out there all the time doesn't actually move the needle for us What's the benefit And so that's why you're seeing someone like a Nick Clegg out all the time now and he's much more visible than Zuckerberg is And I think this is a strategy because they haven't really had success with Zuckerberg being the face of Facebook in the past Well Monica bicker joined us earlier head of policy I know you were listening into that interview I'm curious What you thought about her response and also about this idea that Francis Hagen brought up in her testimony that her hope is that more employees at tech companies start to come forward You know it's pretty powerful this idea that there are many people on the inside that know what's going on And very few people are almost nobody on the outside And I'm curious if we're going to see a wave of people coming forward given all the people in the sources that you talk to or if the people on the inside are happy Well I think people are already coming forward clearly we've seen that over the last couple of years Certainly when people leave usually they used to leave and just kind of fade into the background but now we're seeing kind of these activists former facebookers You know people who were there who are now tweeting and going on panel sharing their experience So I do think there's been a little bit of a change there but you're right I mean so much of what happens at Facebook or all the other tech companies for that matter is behind closed doors We don't know you're scrambling to try and find just one or two employees who are willing to talk and obviously they have narrow perspectives Now I don't mean to say that about this particular whistleblower I just mean in general you know ideally you would be getting perspectives from all over the company And they make it really hard to do that And so as a result you rely on what you can get which is often you know people who are willing to go public and sometimes those people aren't super happy So that's why the companies you know come out very hard and aggressive but we don't really get to talk to the people that we need to talk to Is Facebook's argument you know the pushback that we heard from Monica bicker today Is that is that gaining traction in Washington or have lawmakers made up their mind We've got about 30 seconds I think people have made up their mind I think all I've seen basically is people push back and say this is just PR This is just spin There doesn't seem to be a lot of benefit of the doubt at this point for Facebook and you know that's kind of their own problem They've built that over the last couple of years So I think unfortunately for them I think a lot of people are pretty set on where Facebook stands All right well we'll see if regulation what kind of regulation legislation comes of it Bloomberg's Kurt Wagner thank you for wrapping that up for us And that does it for this edition of Bloomberg technology I want to make sure you tune in tomorrow to be joined by andreessen Horowitz general partner Arianna Simpson and Kate Brandt Google's chief sustainability officer I'm Emily Chang is San Francisco This is Bloomberg The composer Joseph Haydn famously said I listened more than I studied It sounds like a law school hypothetical Here in Bloomberg it's the same thing Do you maintain that low rate regime Can you see our two years How do you build a strategy with that eventuality in mind Experts information news The push sets up a potential fight What do we know about how it will go public Bloomberg radio the Bloomberg business app and Bloomberg radio dot com Bloomberg the world is listening The only way to start the morning is with optimism The jobs recovery was slug A lot.
"mark zuckerberg" Discussed on Bloomberg Radio New York
"Our best always to work that out If it turns out we can't but I'm hopeful that we'll continue to always work out what we can We've seen Mark Zuckerberg We've seen Jack Dorsey now testify before Congress multiple times And I've heard it said that YouTube is getting a pass Do you think you should be up there testifying Well I think we do get a lot of scrutiny I feel like there's a lot of scrutiny and because YouTube is part of Google Sundar has testified a number of different times and answered many different questions on YouTube So I do believe there's a certain amount of scrutiny and if I were ever asked to testify I certainly would go and testify as well How often are you meeting with lawmakers or have you met with lawmakers personally I mean we meet with lawmakers very regularly across the globe There's a lot of regulation in all countries of the world around technology and we want to make sure that they hear our point of views We understand this is an important area that there's a deserves a lot of scrutiny but we want to make sure that we are having conversations about what's the best way to make that happen I mean what I do worry about our unintended consequences So there may be regulation that is well intended but actually then has a really negative impact on our ability to innovate our ability to create jobs and valuable services and content And that's what I worry about So what would you propose I mean Mark Zuckerberg says he welcomes regulation I mean is that your position Or is it something else Well I recognize that there will be regulation because of the size and the significance but we've also seen that in a number of different cases there's laws that are Proposed And they actually would have a lot of unintended consequences And so in those cases we've worked really hard to communicate with.
"mark zuckerberg" Discussed on WMAL 630AM
"Facebook and Mark Zuckerberg, the boy billionaire. Banning President Trump from Facebook and Instagram on January 7th 2021 You know there was a melee on Capitol Hill on January six. Apparently they missed all the other riots and looting and the arson and the thousands of cops injured. The dozens of people murdered. All of the arson and looting and you know the Democrat Party is you see, Were it not for double standards, liberals would have no standards at all. Very, very upset about one riot. This is I've made the analogy before. It's kind of a rough translation from the great movie Apocalypse now. Becoming this irate about one little brief riot on Capitol Hill. Where one woman was killed by homicide Ashley Babbitt to died of heart attacks when an accidental drug overdose and tragically, a police officer died the next day of stroke her strokes. Terrible think the Democrats. It's like, you know this. This one riot matters and the hundreds of other riots don't matter at all. Literally. Dozens of people killed start with the officer David Goran Shoten and murdered and in ST Louis. Lives dreamed his death as he was gasping for air. On Al Gore's amazing Internet. At least two dozen killed, murdered during the left wing rice and and then they're very upset about this one. Thousands literally of police officers injured billions literally and damage. From the Democrat riots and looting of the arson. And all of this on none of those matter. None of those amount to a hill of beans in this crazy world. Um, that's a Casablanca reference, and and there's one. There's one riot matters and The analogy the line from Apocalypse now So you know, accusing people of murder in this crazy words like handing out speeding tickets at the Indy 500. I've used this analogy before. But becoming I read about this one riot on Capitol Hill, while ignoring the others is like handing out one speeding ticket at the Indy 500, while all the other cars roar around the track. One car must be singled out and that is the only one that matters because the left has they enjoy and they abuse information dominance in the United States of America, and they have corrupted the news media and the social media platforms. With Jack Dorsey and Mark Zucker, Burg and so on. So they they had this Star chamber The Star Chamber panel review So Mark Zuckerberg wouldn't have to take responsibility. But they stacked the deck, of course, by putting a bunch of lives in there, and you knew what conclusion they were going to come to. And this morning they just that Facebook oversight board upholds Trump Ban But calls indefinite suspension quote Not appropriate well, then that doesn't make any sense. Does it That's having it both ways, isn't it? Decision comes after Trump rolled out a new communications platform called From the desk of Donald J. Trump. Now Facebook's oversight board on Wednesday upheld former President Donald Trump's banned from Facebook and Instagram, but said it was not appropriate for Facebook to impose and indeterminant and standard less penalty of indefinite suspension. What Huh? The board has upheld Facebook's decision on January 7th 2021 to restrict then President Donald Trump's access to posting content on his Facebook page and instagram account, the board wrote and their decision this morning. That's where it gets kind of hinky, hinky. I think, the board said. They said about Pettitte, Thebes ord gave Facebook six months to review the arbitrary. Indefinite ban. They called an arbitrary, saying that in a tweet that the company quote violated its own rules and quote They also wrote, So wait a minute they violated their own rules. But they're going to stand by the violation of their own rules because their political hacks and the federal government should crush this monopoly and crush now, of course, the Democrats or not, because Facebook and Instagram and Zetterberg work for the Democratic Party, it's a coalition of industry and a political party, just like in Germany in the 19 thirties. When you had a coalition between the national Socialist German worker's party and industries and industrial chieftains, now in America in the 21st century on Earth. The most important industries are the communications industries. He also have Jack Dorsey over Twitter, who has a similar arrangement with one political party, The Democratic Party and he crushes free speech. Jack Dorsey is a crook, and and he's corrupt. And he banned. For example, The New York Post stories on Hunter Biden and the laptop in the Emails and Tony But Belinsky and Joe Biden being big guy getting a piece of the action from the China business. And, you know they've been the stories and then the rest of the news media because they're corrupt lemming as well went along with the band, so Oh, no, this is Russian disinformation. It's Russian disinformation. No, it wasn't Russian disinformation. It's not Russian disinformation. That's true, but the there's creepy Board of lefties. Pretending to maintain their integrity, integrity with his little faints saying, Oh, but you can't do it forever. Will you just announced that you can do it forever? As a matter of fact, But they write. Facebook cannot make up the rules as it goes. Of course they can. And anyone concerned about its power should be concerned about allowing this, the board said in a statement. Having clear rules that apply to all users and Facebook is essential for ensuring the company treats users fairly. They have no interest in treating users fairly. They have an interest in abusing the power that they've amassed for political purposes to serve their masters in the Democratic Party, or is it the other way around? Is the Democrat Party, the poodle of the oligarchs like Jack Dorsey and Mark Soccer Berg and and maybe we'll get into a little built Bill Gates and his wife today, Maybe not. But it's they're getting divorced. Apparently, she's going to be a very eligible bachelorette. I think very soon she should form like a first Wives Club with Jeff Bezos is ex wife worth tens of billions of dollars each make him very popular around the drinking fountain..
"mark zuckerberg" Discussed on Progressive Talk 1350 AM
"A program called Suck Net. Zach Net. Oh, I was swallowing water during that thistles where it's like this is this is where it is you his view of the world. Which is him? Yeah, him. Yeah. No points for originality on the name. No segment on just as a heads up. I had a tight mark Zuckerberg a lot on this podcast and I've come up with a lot of nicknames for him. None of them are good. May we rank them? Yes, please. Yeah, empowering thing. You're not clever nicknames. I'm just going to state that off the bat now Zach that has been described as a primitive version of a well instant messenger. The receptionist was able to use it to Ping Ed and members of the Zuckerberg family soon took to messaging each other with it, too. Here's the New Yorker. Quote one evening while Donna was working in her room downstairs, a screen popped up the computer contained a deadly virus and would blow up in 30 seconds. As the machine counted down, Donna ran up the stairs, shouting Mark! So okay. Right now we're still in the zone where I'm like that could be a fun. Cute, cute little pro docker fire. I mean, not too fast forward, but it seems like he has never grows up does seem like he never be his cheating on his final exam. The Facebook. You can't blame him for this yet. But given everything else, it's kind of telling us he can't grow a beard. You know, so there's a lot going on there. He definitely ever considered that actually. Even worse. It growing a beard than Ted Cruz? Yeah, a smooth face, And that's a shame because after a shame, like Facebook went through and put the 2016 election he would expect him to drop out of public life for a while and then come back with a beard. And launched a new product. That's what he wanted to Dongo can't I'll go? Listen to people The smooth, droopy face. He didn't have a beard to wipe us sends away and he didn't know. At the delicious taste.
"mark zuckerberg" Discussed on News Radio 920 AM
"The every day one finds the best ones with six hours three times he was preparing to leave it That really allows you to focus on what you're listening to get 15% off all contacts here but break on homosexuality by black on Black Tom slash It was a question of whether it'll just watched really going be abolished. Yes, just 84% said Yes. OK, so second Berg from Facebook, Mark Zuckerberg before the Senate today He was leading the FBI for all this guilty of many things, but I think this is about the stretcher. Facebook CEO Mark Zuckerberg told Congress today. The FBI warned him not to go to Facebook should be on heightened alert about hacking operations. Could be a part of for disinformation campaign. The four in the final 4 20 election will be opposed Another slap. But this was not a hack and week operation with a laptop that legitimately belonged to the computer repairman in Delaware, and he turned it over the roof of the audience really close, So the FBI is organization called me an hour to parade, but it's Z didn't do this. I don't think that you could also say it's not on the Horrible hot information in the 100 laptops were not saying more more often. It really is hard to soccer. Some of it and however I hold full marks for another printed in this it for 400 Rito. Success. We know nothing about a Bible left even produced for several years. What'll happen? Yeah. Don't don't Don't bother with drug called regicide going over to the dark side. He supposedly trying to celebrate when she tried to sell the whole operation, But he doesn't like that. They had some kind of falling out a falling out of the trump. Everything s Oh, it's just not going to go to the Bongino reported the other places. You could get your news aggregated. You're not going to land that Roger left left. Are using. It s all three sets more disinformation campaign. How about the missing this information campaign on the part of you that Zbig all the way with the Russians? I'm about Silicon Valley that I got the Russians. Silicon Valley. What's the shutdown? Descent, Big tech and they have all the power and they have more money. Then night and then the corporate media does not permit. He has to deal with the things like Of course, nobody watches network television anymore. I mean, these these these big tech companies like Google and Amazon before they buy influence was always to be burdened with Republicans lose control of the Senate, and he was White House. I mean, they're not just a robot. Zweiten. It's good friends. They put the Republican Party. I think that the fact that they don't care about the care about more freedom of speech. They also the fact that they're right there in bed with China. I'll be looking for more of that situation with China and the Bidens and also the Russian hooks with Maria Bartiromo. We've got coming up next. She's upset. Look out. We're talking with her. And no one heard the.