35 Burst results for "Southeast Asia"
A highlight from Growing Unease: Current Administrations Approach to Security and Travel with David Bellavia
"What do you think they're doing with cash, right? What deal do you make where someone says, I'll bring a box of money to you? Yeah. What do you, it's, this is a state sponsor of terrorism. Ladies and gentlemen, distinguished guests and my fellow citizens. America's comeback now. starts right Welcome back Financial Guys podcast. Mike Speraza in studio live today with a guest in the studio. I haven't had this in a long time. Staff Sergeant medal of honor recipient David Bellavia joining me for about a half hour today. David, thank you for joining us. Thank you for having me. I appreciate it. Absolutely. So I'm going to stick based on your background. I'm going to stick with a lot of military stuff today and I want to start, we'll go all the way back to the beginning of the Joe Biden presidency. The Afghanistan withdrawal, in my opinion, did not go very smoothly. I'm sure many people listening agree. What were your overall thoughts of that withdrawal and how it actually ended up happening? I know we lost, you know, sadly lost 13 soldiers in that, in that withdrawal. People say we went off the wrong air base. People say that we shouldn't have gone out in the middle of the summer. There was a lot of different things there. What were your overall thoughts on that? I think it's like the worst day in American history since Market Garden. Just absolutely. And the reason why it was so difficult was it was totally unnecessary. So let's rewind to the Obama trade, Bull Bergdahl and the three first round draft picks. They get Marshall, they get MacArthur and they get Patton that end up the resurgence of the Taliban. These men not just go back to the enemy, they go back to the battlefield. They're in power when the government falls. You have misinformation coming from the White House that the president of Afghanistan is leaving with billions of dollars on his plane, which wasn't true. And then you leave the equipment, the cash. There's no recovery. We're getting reports of sales of American equipment left in Afghanistan in Southeast Asia. We're moving material across the globe. Our children will fight and pay and have to atone for these miscalculations. Let's talk about that. You being in the military and you knowing that area too, why did they just find it the easiest way out to just say, you know, just leave that billion dollar billions of dollars of equipment there and not think, again, if it was me and I'm speaking that someone that's never been in the military, but if it's me and I'm the president, I'm thinking, OK, I don't want to leave all our weaponry there. I don't want to lose any of my men. Number two. And number three, I want to make sure that everybody knows when and how we're getting out of there. And it just felt like poof. One day they said we're getting out of here. Well, it's because the military didn't make any of those decisions. I mean, look, Millie, it can criticize him. You can criticize Secretary of Defense worthy of criticism. However, none of these individuals are making decisions. This is about NGOs on the ground. This is about the State Department. So you've got Bagram Air Base, the equivalent of JFK. You've got Karzai International Airport, the equivalent of Teterboro. Right. Why would you ever do an exfil out of Karzai International Airport? It makes absolutely no sense. It's tactically unsound. But and then you've got all the ISIS -K. We retaliate from the murder of 13 of our bravest and we drop a bomb on a guy delivering water. He's on our payroll and we kill children on that. Then we take out Borat on a tuk tuk driving around like that wasn't even really what was happening. It's just a den of lies. And Tony Blinken and Jake Sullivan, all the heroes that brought us, you know, the Bergdahl deal, the Iran nuke deal. This is these. They the State Department is running all foreign policy, including what the DOD used to run. Well, that's I was going to say. I mean, I know Biden's the president, but do you blame him at all or is it everybody underneath him that, you know, maybe was giving him bad information? And again, some of these decisions, David, is Biden even involved in some of these decisions? Like, I don't even know anymore. Is he around? Is he paying attention to anything going on? Well, I mean, just from the press conferences, it was apparent he didn't know what was going on. And the great irony is that they actually were predicting that Ukraine was going to be invaded and, you know, no one believed them. So it's like you can't influence your friends. The allies don't trust you. The enemy doesn't respect you. You know, I mean, you've got Ben Rhodes is really proud of this State Department. Susan Rice loves what they're doing. But, you know, again, Americans died. And, you know, and what is the perfect culmination of the adventure in Afghanistan? Looking at your watch at Dover Air Base when bodies are coming home. I mean, nothing could you couldn't ask for a just it's it's a debacle. Yeah. And it's sad that that's that's the leader of our country there. Let's move in. You brought up the Ukraine there. So the Russia Ukraine conflict will get to Zelensky in a minute. He is as we speak in New York City right now. But so Trump's in office. We don't see many of these conflicts or any conflicts actually started under his watch. And then we have the Biden administration come in. And a year later, we have Russia invading Ukraine. Why did this happen and why? Why the timing of February of 2022? So let's go back to when we were fighting ISIS. Trump engaged and destroyed estimated some say 300 members of Wagner forces. But those were Russian nationals. We engaged. We destroyed them. What was the response from Putin? Nothing at all. So what do people in that section of the world, Eastern Europe, the Middle East, what do they respect? They respect power. They respect authority. You're not going to get any respect if you don't engage the enemy when they present themselves. I don't understand the calculus of again, I'm trying hard to figure it out. I don't get it. I don't. You know, Romania and Hungary and Poland, you're letting them unilaterally decide whether or not they want to send reinforcements into Ukraine. That's an act of war. If NATO members engage the enemy, all of NATO is engaged against the enemy. Poland doesn't unilaterally make that decision. Hungary and Romania don't unilaterally make that decision. We can't even articulate what the mission is. And if you look, go to the Institute for the Study of War, there's a plug for them. Check out their overlay from when the battle started, when the war started with Russia. And tell me what success this offensive in Ukraine has produced. I mean, let me ask this question, because I get confused. The answer is nothing. I asked this on Twitter, X, whatever it's called, all the time. What is the end game and how do we get there? Because all I see the answer is, hey, just blank checks. Hey, just write a check. Hey, here's a billion. Hey, here's 20 billion. Hey, here's another 10 billion. I don't actually see a look. I mean, like anything, right? If I write a business plan of what I want to do in 2024, my goal is X. I write down my steps to get X. I don't just write down X and say it's going to happen. I don't really know. And then the answer always is, well, we have to fight. We have to back Ukraine. Okay. But when does that end? Because the Afghanistan war and the war in Iraq lasted 20 years plus, right? And was there a real end to it? I don't know. That's where it gets frustrating for me, Dave, where I'm like, how do we know what the end game is? Do you win or lose? When does that happen? I don't know. I don't know. At least you're thinking about it. And I have fear that our leaders aren't, and that's the problem. So here's what this comes out. You're going to get a negotiated settlement out of Ukraine, right? But you talked about the billions of dollars that we're spending and giving to Ukraine as a blank check. First of all, Zelensky visited Ukrainian soldiers in the United States. Did you know that there were wounded Ukrainian soldiers in the United States? I did not know that. Well, today he visited them. So what's happening there? So that's a cost that no one is putting on the ledger. So now let's look at the blank check that Ukraine is getting. And by the way, I'm pro Ukraine. I want to fight communists all day and night. So let's punch Putin hard in the face. However, you're giving them a blank check and you're giving them munitions. Now here's the problem. We have to replace those munitions. Those munitions were purchased for 20 year global war and terror. And let's be honest, inflation is involved. So what you purchased for $10 is now $17. So you're not just giving them the money. You're giving them the equipment and the munitions that you have to replace yourself at the value of what is valued today. We haven't scratched the surface for the amount of money. CBO absent at the wheel. No one is tracking this. 2024 can't get here fast enough. How does this work, though, when you talk about some of these NATO nations coming together and making decisions, but us not just giving weaponry, giving everything money, whatever we're giving there? Is that not an act of war, too, though, David, at some point? We're continuing to fund Ukraine continuing the war in Ukraine. I mean, that to me seems like we're backing a war. Well, I mean, by the letter of the law and NATO charter, it's not. But here's the problem. It's schizophrenic because we were told that what was an offensive weapon was going to mitigate, you know, that wasn't going to help peace at all. So we went from, I don't know if they should get tracked vehicles to I'm not sure an artillery piece is what they need to high Mars rockets being launched. And let's be honest. I mean, the Ukrainians are I mean, the payload that they're going through, what you would have to have cataclysmic casualty numbers to be able to to the spandex that they're doing on the ground that they need to replace Patriot. If you're going through thirty five Patriot to, you know, missiles, I would expect to at least the C 20 makes that are shot down. They're using them for air artillery. They're using there for indirect fire. I don't know what they're doing, but this is going to end with Don Boss going to Russia. This is going to end with that land chain that Putin wanted through Crimea. And again, our friends in NATO, what are they even doing for Ukraine? What? Look, if you they said that Trump wanted to kill NATO, Biden did it. Right. Biden did it. And now Germany. And so Putin was selling oil at thirty dollars a barrel. What's it at ninety six? Yeah. He's making more money than he did before. And he's financing a war and killing innocent people. You mentioned before, too, and I think this is a good point. Everybody on the left and I'll say the media, the establishment, whoever you want to say, says that if you don't agree with the war in Ukraine, you're like pro Putin. Right. And that's just the most outrageous thing in the world, because I agree with you. I feel for the people of Ukraine. I don't want this for them. I don't want this for innocent people. However, at some point, the world's every every one of the world's problems can't be America's problem when we have a border crisis. And then I think they said yesterday ten thousand people came across. They got, I think, eight thousand of the ten thousand. But you see the numbers day over day. It's a problem. We have crime that's rampant. We have overdoses that are at record numbers. We have we have suicides at record numbers. At some point, we have to maybe just think about ourselves and not everybody else, because if we fall, sadly, I think the world falls at that point. Amen. The thing that I would add is I love the way the Ukraine refugee has been crowbarred into the migrant crisis in the United States. New York leaders from the city to all over Kathy Hochul, the governor of the state of New York, mentioning that, you know, like the Ukrainians in Poland, the the Polish have no intention to keep Ukrainians forever. That's a temporary you know, they're leaving a conflict to return to their country after the conflict is over. Again, this is just we're we're putting a round peg into a square hole and just hammering it away. But but there's no the media. There's you're our destroying military. I go to parents all the time around this country and ask them to give us their sons and daughters to join the military. And the one thing they bring up is Afghanistan. It's not about anything. It's Afghanistan. How are you going to assure us that you're going to maintain your commitment to our son and daughter when you betrayed us in Afghanistan that has lasting effects? And there's not a I'm trying to find a segment of our of our of our nation that's functioning. I don't know what it is. I saw in Chicago, they're going to have municipally owned grocery stores. Maybe that will figure it out there. Yeah, yeah, it's good. Real quick, do you think and we'll finish up on this topic, but do you think that they will we will ever have boots in the ground on Ukraine? I mean, I hope not, because I just don't know what the I mean, look at I'm I'm we're getting ready for China. We're trying to revolutionize everything. I don't know what the what the plan is. I mean, again, if you want to put a base in Ukraine, and you want to make that a sustainment operation going forward, that I here's the point. I don't understand what the inactive ready reserve call up was for. Why are you bringing those troops in the non combat support? Why are they going to Ukraine? What are you building infrastructure there? Here's what I do know. We're talking a minimum of $11 trillion to build Ukraine back. That is cataclysmic amounts of money. There isn't water, electricity, internet, you know, you want to help Ukraine. You're going to Russia is not paying for that if you negotiate a settlement. So I don't know what the plan is. But I hope we never see boots on the ground. I could guess what the plan is. I won't I won't say for sure. But I could guess that we'll be paying a chunk of that. And I do have one last one. So I did interview Colonel Douglas McGregor a few months back. And he talked about he's a real optimist. But he is really very, very bullish on Ukraine. Yes, very, very optimistic. I'm dropping some all over the place. But he brought up some staggering numbers, though. And even if they're half true, it's a problem. The amount of casualties and wounded soldiers on the Ukrainian side that we're not hearing about the media. I don't know if you agree with some of those numbers or not. But he's saying, I mean, it's people are acting as if this is an even war right now. And it's not even close. First of all, McGregor's a stud. I mean, he's an absolute, you know, that we're glad he's on our side. He's a military mind. I don't know if those numbers are accurate. I could tell you they're juxtaposed to almost everything we're hearing from every institution that we have, including a lot of our intel from Germany and England. But again, I don't know what to believe. So when you don't have when you don't have transparency, when you're not holding regular press conferences, when your Pentagon spokesman is now working in the White House and now you're getting a triple spin. I mean, the U .S. Open double backspin. You've gotten so many spins on the narrative. I don't know what to believe. But if he is even close to what is a segment of truth, you know, then look, Ukraine needs an investigation. There's a lot of investigations. We've got to start on Afghanistan. We were promised that by Speaker McCarthy. We need a hot wash on Afghanistan. And then we need to go to what who is oversighting the money that's going to Ukraine. And what have we got for our return on investment? Yeah, I'm not asking for much. Really, all I'm asking for in this conflict is can we just talk about what the end game is? And to your point, can we get an accounting of where the money's going and what's being spent in a real accounting of it? The Iran deal that just happened last week. First off, the fact that that was negotiated and completed on 11th September to me is just the ultimate slap in the face. But you again, you know more about this than I do. We do a five for five trade. OK, I'm going to use sports analogies. We trade five for five. And then we also approved of six billion dollars that apparently wasn't ours, but it was in a fund that now they can release to Iran. How are we winning on that one? Well, first of all, I was hoping that at least it was a digital transfer. The fact that it went as euros in cash through Qatar. And OK, so what happens the 24 hours after that deal is made? We're now getting issues in the West Bank. We're now hearing about issues in Yemen. We've now got Hezbollah that's reinforced. I mean, look, what do you think they're doing with cash? Right. What deal do you make where someone says, I'll bring a box of money to you? What do you it's this is a state sponsor of terrorism. They haven't changed. By the way, their president is now in New York City addressing the United Nations. This guy's killed 6500 of his own people. He admits to it. He killed the students that revolted and wanted democracy when we did nothing. He killed 5000 of his citizens in 1988. He's killed over 300 Americans. There's no accountability whatsoever. I don't understand what it is about Jake Sullivan and Tony Blinken that believe that Iran is a partner. All you've done 10 years ago, they were refining 10 percent of their oil. And now they're a force. Now they're working with Maduro in Venezuela, and they're a huge part of their members of of the international community. They're in good standing there. I don't get it. Does anyone believe that the Iran nuke deal? Look, we got hit with cruise missiles under Trump in Iraq. How did they have those cruise missiles? Those cruise missiles were illegal under the Obama nuke deal. So how are you refurbishing missiles in two years? Do we believe that their centrifuges have stopped? That they won't have a program if they don't have one already? No, I mean, I guess my question, David, is how I mean, I know that you pay a lot of attention to this stuff, but how do people like in the media not ask these questions? Right. I mean, these are legitimate. I mean, we just traded to I put this on my notes here. This is on the heels of trading a WNBA basketball player for the Merchant of Death like six months ago. Right. I mean, and again, I'm glad Americans are coming back to America. I don't want to sound pessimistic on that. That's great news. But we also I mean, this this stuff just seems like I don't care what side of the aisle you're on. It warrants questions, but nobody seems to care. I'm in the world that if you take hostages, we take hostages. You want to exchange people? We'll exchange people. You know, we definitely have the partners in the area to do that. For whatever reason, this administration, they're they're they're contrarians. They're contrarians to you know, they claim Bush and Cheney are their best friends, yet they just go 180 degrees from that doctrine. I don't know what the Biden doctrine is. I don't know what Bidenonomics is either, but I could tell you that they believe that Iran is a partner. Now, here's another thing. Our envoy to Iran not only is no longer the envoy, he doesn't have a security clearance. Does anyone curious at The New York Times as to what happened to the lead negotiator in Iran that is escorted off a bus, taken into American custody, given a job at Yale or Princeton or wherever he's working now? I've never heard of a person going from top secret classified negotiations to no clearance whatsoever and in the custody of American intelligence community. No one cares. No one cares at all. It's fascinating. And again, for me, I mean, these are big decisions that we're making. And correct me if I'm wrong, but it used to be, you know, maybe we did a two for five deal and then we made the six billion. Now we're like, we're giving stuff away and we're on the losing end. Correct me if I'm wrong, but America was never, you know, America losing. It was always America winning, right? America getting the best of deals. At least McDonald's has a five for five. We didn't even get that. You know what this does though? Honest to God, if you're thinking about traveling overseas, things go sideways, cartel, South America, Mexico, wherever you're going, you have a price in your head now. No one in their right mind is going to bring you back whether it's Haiti or wherever you are, you're worth $1 .25 billion. And thugs and scumbags are going to take advantage of that. I mean, that's a great point too. Do you think about leaving the country? I don't know anymore. That's a little bit concerning. I don't care where you're going, right? That's concerning. This one I just had to bring up because it happened two days ago or yesterday. How do we lose a plane? And I heard that's like a third one in the last six weeks that something like this has happened. How are we losing $80 million planes? Well, they're not $80 million anymore because they've got a new engine and all this other stuff. Look, the F -35 program is a complete disaster. You want to talk about why our allies think we're crazy. We sold them a plane. This program has been around since the early 90s and we've got nothing on return for it. So basically two planes are flying in a buddy team. They're doing training and a guy punches out. We don't even know why he punched out, but that plane could have easily hit a building. It didn't, thank God. But the wingman didn't follow where his buddy went. So what is he doing? He just kind of went on and did his own thing. And now the Marine Corps put a Facebook post like a dog is missing. We're expecting the Ukrainian farmers to carry the F -35 out with their tractors. I don't know what the point of it's wild. Look, stop embarrassing us. Just stop humiliating us. That's all I'm asking. Just be the army and the Marine Corps that we know our men and women are capable of being. Get out of their way. This gender garbage, this social experiment nonsense, stop humiliating our military. That's all I ask. Why can we not get the... I mean, I know why we can't get the answer, but I'm asking this to you. But why can't we, at a press conference at the White House, why can't we say, I want to talk to the guy that was in the other plane, or you can tell us the transcript of what happened when that happened. Talk to the guy who jumped out of the plane. Why did you do that? And again, I'm not trying to put our military on the spot, but these are kind of big questions to ask, right? I mean, if I do something in my business, I have to go face the music on that. Why doesn't everybody have to face music for their decisions or why things are happening? I think it's kind of important. Well, you don't want to talk to generals because they're going to tell you the truth and they won't be generals anymore. True. And you don't want to talk to enlisted people. Because look, I mean, let's be honest. How many people are... Is this a merit -based military anymore? Do we have a meritocracy? Are we promoting people based on pronouns? Go figure. When we're putting politics above military strength, accidents happen. We don't know the facts, but the fact that nobody cares about getting to the bottom of it, the day of the Pentagon paper reporters are gone. Yep. Yep. Let's just talk about the 2024 race quick, and then we will wrap up for today. So your thoughts on the Republican primary so far, I'll stay away from the Democratic side till the very end, but your thoughts on, you know, there's obviously Trump who is now in a, has a huge lead. Ron DeSantis seems to be crumbling underneath himself. Vivek Ramaswamy has jumped up in the polls. Nikki Haley's there. Tim Scott's there. A few others that probably aren't going to get a lot of votes. Chris Christie's the anti -Trump candidate. Mike Pence is, I don't know what Mike Pence is. I'm not really sure. Your thoughts about the whole field so far? I mean, look, it's impressive. They've got a deep bench. There's a lot of diversity. I, you know, none of it matters. Trump is the guy. The more you indict him, the more you empower him. You know, I'd like him to work on his communications a little bit better. You know, but if Trump is Trump, Trump is a Frankenstein monster of Barack Obama. As long as you have that faction, you're going to get, you know, Trump is going to be empowered. I just don't want to see Governor Noem anywhere near the White House. And I, if he's going to pick a running mate, you know, it's hard to find an ally here, you know. But it would be nice to find a governor. I don't want to take anyone from the Senate. I don't want to take anyone from the House with the margins that tight. But I mean, the idea that Governor Noem is being floated right now. I mean, I'd rather take North Dakota. Yeah. A little sled there. You know, it's funny you mentioned that because I saw a lot of that this weekend. I mean, can we just, for lack of a better term, keep it in our pants for about a year and then do what you got to do? It really is. I mean, every time you turn, somebody's doing something idiotic, whether it's Boebert. And again, I say this, David, a lot of people know who you are. A lot more know who you are than they'll ever know who I am. But when you go out in public into a movie theater like that, and I'm going to Boebert, not Noem for a second, you're, you're extremely well known. I don't care if it's dark or if it's as light as it is in the studio right now. What are you thinking? I, you know, she's, she's, she's an embarrassment. She is. She's bad, too. Who would have thought that Marjorie Taylor Greene would have been the, the oasis of the Maryland? I mean, seriously, I, again, you're, you're in Congress every day. You're out in public, you're on the job. You know, at least she wasn't wearing a hoodie, you know, that's all in shorts. She was at least dressed for the occasion, but I, it was, it's wildly embarrassing. Vaping, singing, whatever you're doing. Getting groped. Yes. Who is your VP candidate then? Because I think, you know, you have names thrown around. There's, there's, the vague has been thrown around in there. You know, Byron Donald's has been thrown around in there. Carrie Lake has. I don't know. I love Carrie Lake. I just don't know that Trump needs to go with somebody so divisive there. I think he's got to go with somebody that's, that's firm in their beliefs, but also not maybe going to turn off half the country. Well, you know, it's, it's impossible. One of the, one of the problems with making Trump, you know, the, the enemy of the state that the left has done is that you've really made it difficult for him to even put a cabinet together. You know, I mean, what are you going to do with it? You've got a lot of loyalists out there. You know, the vague is, is I think maybe the most intelligent dynamic candidate we've ever seen run for president, but experience does matter. But you know, I love the way he thinks. I love the movement. I don't know if he would even take the job to be honest with it. I don't think he needs it. But you look at a Tim Scott, I think Tim Scott is, you know, there's a whole lot to his message and I think he's, he's got the experience in the Senate, but honestly, you could literally take the Clint Eastwood chair and, and throw it in there as vice president. I'm going with that because this, this from top to bottom, we have to have seismic change in 24. Do you think he would ever choose Kristi Noem at this point with all that now? Yeah, no one knew Mike Pence was a, was a 24 hour story and then he was the vice president candidate. So who knows? I mean, a lot can happen between now and then, but I just, I don't need, you know, let's just pick people on their merit. Let's pick people that are ready to be the president. Imagine this, imagine picking a vice president that can lead the country. If something happens to a 75 year old president, you know, like Kamala Harris. Yeah. Someone like that.
A highlight from UNCHAINED: Jeremy Allaire on Circle's Multi-Decade Strategy and Where Stablecoin Regulation Is Headed
"Hi everyone, welcome to Unchained, your no -hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago and as a senior editor of Forbes was the first mainstream media reporter to cover cryptocurrency full -time. This is the September 12th, 2023 episode of Unchained. The game has changed. The Google Cloud Oracle built for Layer 0 is now securing every Layer 0 message by default. Their custom end -to -end solution sets itself up to bring its world -class security to Web 3 and establish itself as the HTTPS within Layer 0 messaging. Visit layer0 .network to learn more. Arbitrum's leading Layer 2 scaling solutions can provide you with lightning -fast transactions at a fraction of the cost, all while ensuring security rooted on Ethereum. Arbitrum's newest addition, Orbit, enables you to build your own tailor -made Layer 3. Visit arbitrum .io today. Toku makes implementing global token compensation and incentive awards simple. With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Make it simple today with Toku. Buy, trade, and spend crypto on the Crypto .com app. New users can enjoy zero credit card fees on crypto purchases in the first seven days. Download the Crypto .com app and get $25 with the code LAURA. Link in the description. Today's guest is Jeremy Allaire, co -founder, chairman, and CEO of Circle. Welcome, Jeremy. Thank you, Laura. It's really great to be back on the show and see you. Thanks for having me. Yeah, it's been a while, you know, out of any desire to not talk to you, because Circle has been making waves, and one of the most recent bits of news is that you've dissolved the center consortium that was managing the development of USDC, and Coinbase now has taken a stake in Circle. What was the impetus behind these moves? Yeah, it's really exciting. I mean, there are a few pieces to this. I think the first is, you know, if you go back a number of years, you know, we sort of invented USDC and kind of debuted it to the world, you know, just over five years ago. And, you know, when we created USDC, you know, we had a vision for like what a protocol could be for fiat tokens is what we called them. They weren't called stable coins really broadly then, but some people did. But that could work, you know, on blockchains and that you could build something that would allow for a kind of interoperable value exchange, you know, built on these open networks. And so we had a big set of ideas, and we really thought about these kinds of protocols as things that would benefit from sort of having standards around them. And it was really important to us when we got started that we could kind of develop those standards together with other industry leaders and kind of have, you know, a sort of shared stake in the success of a protocol like USDC. And so we were very fortunate in 2018 to forge a partnership with Coinbase. It was a really important strategic partnership for both firms to drive USDC in the market. And as part of that, you know, Circle was sort of issuing USDC, it was sort of were the electronic regulated money transmission firm and issuing it. But we had a lot of ideas for how that could evolve over time. But also, most importantly, while there were regulations around like what money transmission was and how a firm like Circle needed to operate, there were a lot of things about stable coins in particular that, you know, there weren't really regulations around like how to hold the reserves, how to manage the security of the network itself. You know, all these kind of governance issues in a sense that were needed and how to deal with, you know, law enforcement interactions and other things. And so we created Center Consortium with this idea of kind of creating self -governance around a stable coin and published more and more of the policies of that and so on. Now, what's happened in five years, a lot of things have happened. And so one is, you know, USDC went from nothing to being one of the most important digital currencies and digital assets in the world today. It went from, you know, very small to being, you know, a billion dollar plus, you know, revenue stream business today. But also most critically is, you know, really starting a few years ago, governments sort of said, well, we're actually going to govern this. We see stable coins as part of what I refer to as the prudential regulatory framework, meaning the regulatory framework that the central banks and the major regulators of payment systems wanted to have rules around. And that was really key. And so kind of coming back to the heart of your question, which is as governance goes from kind of a self -governance model to a government governance model, the kind of nature of this changed. And so, you know, working together with Coinbase, we looked at, you know, how do we, you know, how do we make sure that Circle can continue to build and innovate and do what we need to do as the issuer and operator of this and do it in a way that is responsive to the regulations that are emerging all around the world on stable coins and stable coin issuers and make sure we can follow those guidelines now that there are rules that are kind of out there and also, you know, have really continued to have really strong aligned economic incentives to make this as widely successful as possible. And so a mixture of things there in terms of them taking a stake in Circle, Circle kind of taking full on ownership over all of the development operations of USDC, but also making sure that this can work in the context of all these new stable coin laws that are popping up around the world. Yeah, you know, it's funny because when I saw the news, it sort of felt like the consortia model was sort of the crypto way of doing things, and that was appropriate for a time when, yeah, USDC was smaller. This was something that was really kind of more focused on the crypto community. But of course, now the conversation has just changed so much and we have like regulators and lawmakers that are really looking at this space, you know, there's probably going to be legislation about it. And so, you know, it felt like, oh, they're moving to a model that can fit into existing regulations. Yeah, big time. Yeah, I mean, something else that was interesting, which I'm sure you saw, is that the news of this arrangement caused some speculation that Circle was setting itself up to be acquired by Coinbase. And I was wondering, as the CEO of Circle, which direction are you working toward when you're steering Circle to going public or to an acquisition by another company such as Coinbase? Right. We're definitely on the path to be an independent public company. We've had the benefit of having a number of strategic investors in the company over the years. You know, more recently, BlackRock took a minority stake in the company as part of a broader strategic partnership between the firms that was last year. Having a stake in a company can create really good product and value alignment, and that's really key. And it's important. I want to make sure that, you know, Coinbase has a stake in our long -term success in addition to being able to make money from USDC. I think that's like a win -win, but, you know, as a company, just to be clear, like it's our 10 -year anniversary. So, you know, it's a fun year for us. Congratulations. Thank you. And I say this often, but, you know, when we founded the company 10 years ago, you know, I made it very clear to my investors and employees that, you know, this is a multi -decade journey to really realize the vision of the company. And, you know, when you think about kind of where we are today, right, there's whatever, a hundred and some billion stablecoins in circulation. You know, yes, there's a lot of volume of transactions that are happening, but this is like barely begun to penetrate the financial system. And so there's just an enormous amount ahead and a general purpose, you know, protocol and utility for dollars on the internet, there's an enormous market to go after there, not just for the movement of money, but actually just having money represented and stored in this kind of form, you know, there's $25 trillion of electronic dollars in the world across the different kind of formats of that. And so we're really quite small. So, and frankly, like the utility of programmable money and the utility of a frictionless medium of exchange that becomes possible like this, we're like just beginning to see the value of that. And so, like, I would just say for everyone out there, like Circle still, even though we're doing a lot of revenue and very profitable, we're an early stage company, as far as I'm concerned. I view Circle as an early stage company right now. When I think about what I'm trying to do and what we're trying to build, it's a multi -decade kind of strategy and I'm excited to see that through and really to do that as a, you know, I hope a very strong, independent, publicly traded company. Well, one of the steps that's definitely going to take you out of the early stage development is that you recently announced that the largest e -commerce and payments firm in Latin America, Mercado Libre, announced that it's going to adopt USDC. So tell us a little bit about that partnership and what impact do you think it'll have on Circle? Yeah, I mean, it's very exciting. It's a tremendous firm that has paved the way for kind of modern commerce and they play a really big role in payments as well in Latin America. And it's part of a broader theme that we're seeing around the growth in sort of demand for digital dollars and demand for using those in markets where maybe local currencies aren't as exciting. And Latin America is definitely one of those places. But I think very specifically, you know, the first phases of this are going live, you know, in specific countries in Latin America. You know, ultimately, we envision that this will be very broadly rolled out. But I think it's important as we look at sort of indicators of where we are in the adoption of stablecoins, that this is going from, oh, this is just used as something to trade on DeFi or this is just, you know, used for arbitrage traders or whatever, you know, to... Speculation. Yeah. Speculation to... This is something that is fundamentally providing, you know, dollar store of value to people who need it, providing a very efficient cross -border payment mechanism for people who need it. And these are major mainstream companies that serve hundreds of millions of users. So, you know, Mercado Libre has, I believe, around 200 million customers. And that's tremendous. And so we think about, you know, how do we grow the TAM of wallets that can transact in USDC? And you know, Coinbase has over 100 million wallets that can transact in USDC. These kinds of partnerships really grow that. And there are many, many, you know, wallets that people use. I think MetaMask has 30 million active users and they can all transact in USDC. And so as we see more and more wallets, these traditional, you know, kind of fintech commerce firms, digital wallets companies, and then all the new people building, you know, the next account abstraction, smart account wallet that's going to be the killer app for making all this usable. Like as those things get built, it just creates more and more avenues for people to use USDC. And I want to talk about those tech developments, but before we move on, I just wanted to ask for the Mercado Libre. So obviously, like, let's say I'm in Chile and I, you know, I'm going to buy something on Mercado Libre. It would show me the Chilean peso price. But then in addition, would it have this price in USDC or is because like, is the consumer also recognizing that their price could be denominated in dollars? Is that how that will work? I don't actually have the like the details of the user experience exactly how that is set up in front of me. What I do know is that they have a lot of demand from their customers to hold and transact in dollars. And so this is really a really powerful way to move more of the store of value that exists for their customers into digital dollars. And then obviously, once you have those, the usefulness of them both within their own platform but the power of all this and the reason why stablecoins are interesting in some ways in the first place and USDC specifically is because of the reach, because of the interoperability. Like I want to I want to live in a world where I've got a digital wallet and I'm in the Philippines and I know someone in Brazil and I know someone wherever and like that's power of crypto, right? Open networks that you can transact over directly, peer to peer, interoperably, I mean, that's really the power. And so, you know, kind of, you know, I think that's ultimately the big unlock that comes from a partnership with Circle like this. And you've tweeted that 70 percent of USDC usage is from out of the US. Is it is that one of the drivers that people simply want to keep their savings in US dollar denominated currency or, you know, what's driving that? Yeah, well, it's a few things. I think the first is just the whole blockchain ecosystem, if you think about it, is highly global. Right. We know this just in general, just like there's just huge amounts of the activity are in markets all over the world. And so to the degree that you need, you know, a trusted redeemable digital dollar, right, USDC is a great option. And so it sort of follows the overall growth of that of that international market as well. However, we've absolutely seen a major uptick in basically that demand for either store of value in dollars. And we've seen that in particular come from emerging markets. And so we've seen growth in emerging markets, Latin America, Africa, Southeast Asia, other places like this, where we've seen we're seeing just so many startups that are launching things and building partnerships with those major companies, major global companies as well that are actually embracing this as a way to settle transactions. That international dimension is very powerful, and I expect that to continue to be the case. And this, you know, I'm sure we'll get to this in the conversation, but this ties into like, why should the US government care about dollar stablecoins? Well, it turns out that it makes digital dollars a powerful export product of the United States that it enhances the soft power of the country and reinforces the economic interests of households, firms, and the government itself. And so there's a strategic alignment of interests between, you know, the proliferation of dollar stablecoins, especially ones that are well -regulated and really trying to follow the law and supervise and national economic interests and foreign policy interests as well, which is, you know, for some, you know, controversial, but it is it is a fact.
How Common Are Child Predators? With Victor Marx
"Everybody. Very special hour we have in store with my good friend and mentor, someone who I really consider a spiritual mentor, Victor Marks. Victor, how you doing? Good. Good. Good to be here. Victor is one of the great Americans out there, and Victor has a ministry, All Things Possible, ATP, where I think one of the best ways to summarize what you do is you deliver people from bondage. Yeah. Yeah. Through Jesus Christ to freedom. Yes. But you also, you deliver children who are being sex trafficked. You find pedophiles and you hold them accountable. Yes. So, Victor, tell us a little bit about your story. We've had you on before, but reintroduce yourself to the audience, and there's lots of talk about this. It's a huge topic happening in the country. Yeah, and I'm glad the conversation has increased lately. It really has. Yeah. So, you know, the easiest way to say for people to understand what we do is we set captives free physically, emotionally, and spiritually. We focus on children and women. We best, I think people best learned of us when we were rescuing and recovering women and children from ISIS. And these last eight years, we grew in our reach and effectiveness to Southeast Asia, South America, but, you know, we had to start focusing right here on the U .S. because of the increase of what I would call pedophile activity. Have you seen an increase in the last five years, two years in particular? Yes. I mean, starting from COVID, it's just, it exponentially keeps going up and specifically through the internet. I don't think, I don't think people realize the full wickedness of how much, now we'll say child porn, but the correct terminology is CSAM, which is sexual abuse material. Because they're, they're being raped. There's no consent, consent with an eight -year -old. Yeah, it's an act of rape. Exactly. And, you know, it's, and I give people kind of a bird's eye view. I think last year, 33 million images or videos were transferred on the internet or the dark web of child porn right here in the U .S. And people think, well, if you find out about it, won't they just arrest them? Well, there was just a little over 300 convictions. It's... How many people do you think are involved in 33 million images? Oh, millions. So two to three million. Yeah,
A highlight from Cardano Will Be The MOST IMPORTANT Altcoin Next Bull Market!
"I do think there's going to be a period where cash is eliminated. In this future utopia, we have flying cars, and there's jet packs, and everything's on a screen. We're not pulling out wadded paper, dropping it on the counter. Everything's going to be digital. Charles Hoxton believes Cardano will become the biggest crypto in the world, serving as a backbone of a new digital nation. I think I caught this speak. Yeah, this was the keynote address. I was in the crowd, folks. I was in the crowd. I was cheering. I was hollering. I was hooping, and then I got dragged out in a headlock. All right, people are scared of decentralized governance because they view it as something that takes away, but I never believe that. I think if you give people the chance to rise up and show who they are, what they can do, they will do amazing things. So that's our challenge, and that is why Cardano, I feel, is probably going to become the biggest cryptocurrency in the world, says Charles Hoskinson. Now, that is a bold statement. Bigger than ETH, bigger than Bitcoin, Nick. I mean, it's not a 0 % chance. What would you put it at, though? Would you put it in single digits? I mean, I would say it's tough to be bigger than Bitcoin. It's already good. It's going to be real tough to be bigger than Ethereum, but if I were to choose on any coin to do it, sorry, XRP. I am choosing Cardano to be that coin. 100 % agree. In my opinion, Bitcoin and Cardano are the only true crypto projects that have stayed to the cypherpunk ethos. I think by value, Cardano won't be able to touch Bitcoin, but by users, for sure. I think there's going to be so many hundreds of millions of people onboarded in Africa, in the Middle East, in Southeast Asia, on Cardano with their NFTs, with their smart contracts, that it's going to blow everything else out of the water. I firmly believe that. All right. All right. And one more quote from Charles here. I think it's going to be more than cryptocurrency. I think it's going to become the backbone of a new digital nation, a new society, a place where we can finally begin to trust each other again, a place where we do all our voting, a place where our money lives, a place where our digital life lives in every dimension and aspect of it, because we deserve that. A decentralized version, not the WF plant version. Oh yeah. You know, here's, oh, you laughed at that joke from the TV too loud. We know what you're laughing at. We're going to deduct your points. You're laughing too loud. That guy felt that was supposed to be a funny moment. Well, he did. And I'm sorry. So yeah, that's, it's essentially, guys, this is a, this is a scary thing I've said before. I'm gonna say it again. I do think there's going to be a period where cash is eliminated and this future utopia, we have flying cars and there's jet packs and everything's on a screen. We're not pulling out wadded paper, dropping it on the counter. Everything's going to be digital. And so do we want the, there are no choices and look, yeah, we just got to pull out our US gov ID or do we want some decentralized options and how do we get decentralized options? We get it with adoption. We get it with building and we get it with just education here. And so I think we really, really press that message. We can make that future because you go to, you don't have to use a credit card. You can use Apple pay. Tim Apple built something big enough where it's going to be, you know, used in a lot of places. I think we could do something similar with Cardano. I say, we, you know, they, you know, shout out to the junkies, but Charles and the team and what they're building and all the wallet makers out there, they're, they're really going to be what can get us to that next level, to that decentralized level. And that is where we all want to be. We don't want to be under the government's control. We don't want to live in 15 minute cities, but that is what they want us to do. All right. Let's talk about the South Korean exchange here. Crypto exchanges are required to hold minimum reserves starting in September. This is pretty big. All right. So they're going to hold a minimum reserve of funds of 3 billion won. Someone in chat might know that is, oh, wait, here we go. It's $2 .26 million. Bury the lead there. The new reserve requirement reportedly protect users in case of unforeseen issues, such as hacking or system failures. We keep going here. Additionally, the financial services commission's financial intelligence unit, whoa, has reportedly prepared a draft for the rules. These regulations come in response to requests from cryptocurrencies and exchanges for clear out clear crypto framework in response said all the Island holders set up to MTG here. All right. And now one more story here, CNBC covering Solana, dropping Bitcoin cash and Litecoin. Now, just the last part of that, they dropped Bitcoin cash. They dropped Litecoin. How do you feel about that? I don't care. They'll bring it back. All right. Well, if they were going to drop that, who would you want to replace it? Cardano. Okay. Okay. All right. All right. Nick might like Cardano folks. I mean, yeah. I mean, it's the most relevant. It's making the most moves. It has the biggest footprint outside of those other things. I mean, I'm sorry, Litecoin. Sorry. People would like XRP. There's probably some people, you know, I'm surprised they went with Solana polygon, you know, what they're doing with Starbucks and Reddit and so many other big brands, you know, I wouldn't, I wouldn't be surprised to see Matic or ADA up there. I think, you know, it might've been a better choice than Solana. Nothing. I have some Solana none against that team, but anybody got a Solana phone? It was like six people a day. All right. CNBC, one of the world's largest cable news networks providing real -time financial markets coverage has dropped Bitcoin cash and Litecoin and replace them with Solana. Meanwhile, they'll continue to cover news related to Bitcoin and need two of the most, you know, most valuable crypto platforms. We go here subsequently, Bitcoin cash and Litecoin are no longer in the top 10 by market cap and have emerging smart contracts and transactional networks that have taken positions in recent years. Litecoin and Bitcoin cash have a market cap of around 4 .8 billion and 3 .7 billion and are among the top 20 still coming in at 16th and 18th. I did not know Litecoin fell all the way almost to 20 there. Let's see. Let's go here. There you go. This is going to miss a coin or two. All right. So we go. Yeah. Litecoin coming in at 16 and then Bitcoin cash now coming in at 19 battling, battling this 3 .7 to $3 .8 billion market cap there. So Bitcoin cash fell 2 .8. Now dropping to 19. Looks like they're going to be out of the top 20. I would say out of the top 20 by the next bull run, then retail will buy a lot because there's still a lot of apps that have Bitcoin cash. So you're going to have retail. They're going to hear about Bitcoin. They're going to download Robinhood. They're going to see Bitcoin's $50 ,000, and they're going to see something with the same name that is $500. Oh, I'm just, why would I buy the one that's $50 ,000? I'm gonna buy the one that's $500. That's where the opportunity is. We're going to have a lot of that. And so I would expect it to, you know, maybe it'll drop and then it'll surge back. I don't know when it will surge back though.
A highlight from 113: Part 2: Tye Holand is Saving Children with Operation Underground Railroad
"That's the devaluation of life. That's what's hurt us in so many different areas. Well, let's start setting the stage for a little bit because we want to talk about Operation Underground Railroad. So as you're going through this career, was it just time for you to retire? I mean, did you max out on what you get from retirement? Or did you say, I've had enough, I got to go do something else? What was your decision on pulling the pin? Well, I think we all got to a point or get to a point where you kind of know you're done policing, but I wasn't done serving. And so that's where I was kind of conflicted. And since 2006, I've been in kind of this human trafficking realm. I worked with a group, International Justice Mission, and I was a contractor with them. And so I did a lot of work in Southeast Asia, infiltrating organizations and bars and nightclubs and finding trafficked victims. So I did that for many years. And then in 2016, I got hooked up with Operation Underground Railroad. And so I was doing work with them on a contract basis. So I would go to any number of countries and do cases and stuff like that. So in late 2021, we started talking and they needed a director of special operations. And so it kind of worked out where I said, okay, it's time, I can go do this and still serve and be a part of a fantastic, fantastic organization. Hey, so let's set context for this. But just out of curiosity, you've been looking at this subject for a long time. What are the top five worst countries for this? You know, shoot, top five worst countries. Because everybody thinks about things like Thailand, you know. Kind of areas. I mean, there's, I would say more areas. I mean, you got Southeast Asia, you got Central America. You got a lot going on in the Caribbean. You have a lot going on in South America. I mean, name the spot. The sad thing is it's going on everywhere. Because human trafficking is, I think it's $150 billion a year industry. It's second only to narcotics, the drug trade. Human trafficking is, and it's true. The cartels. Well, it's becoming more lucrative for the cartels with less risk than trying to, you know, narcotics, you know, drug smuggling. Oh, absolutely. I mean, they're not, the cartels aren't stupid. And they know, they know that, you know, a kilo of cocaine can be sold one time. You've all heard this analogy. But, you know, you get a 14, 14, 15 year old girl, and you can sell her 10 times a day, 10, 12 times a day for umpteen years. And look how much money you made off of one person. Well, let me ask you, when you're talking about the worst areas of the world, is that where the kidnappings are taking place? Or is that the people who are partaking of these innocent victims? Well, the vast majority of, or a large majority of trafficked kids are from a known person to them. Whether it's their family, family, friend, clergy, any number of different things. But they're of a grabbing person in that, absolutely. But the majority of it, or a large, large section of it is by people that they know. And what do they get, and what are the folks that are doing it, getting out of it? Are they, this is the, it's a money transaction for them, right? They get something for this? Oh yeah, they get the money. No, I mean, but the person like you said, a clergy or a family member, like the girls introduce a girl into something, and she ends up being used. Is this a money transaction for the girls? It's a money transaction for the person that did it. The mom, the dad, the cousin, the uncle. Wow. And so, taking that just a little bit further, what are the worst countries or locations of people who subscribe to, you know, sex acts with underage children? I would say the United States is the number one purveyor of it. I would say, you know, you have United States, Britain, or, and then, you know, Australia, you have those. When I was in Southeast Asia, I mean, I can't tell you the amount of Americans and Brits and Australians that I saw over there. That's where they coined the term sex tourism from. You'd go over there. And now the one thing, the only thing that came out of that, I mean, they did finally end up passing some laws to make it a federal crime. It was tricky to establish jurisdiction, you know, how do you have jurisdiction over something that happens in Thailand, you know, or Australia or places like that. But have those laws been effective at all? You think it's slowing this down? Oh, there's been absolutely, there's been people held accountable that were caught in a foreign country doing.
A highlight from XRP Will Be Bigger Than You Think! (Here's Why)
"There's a whole bunch of things in the judge's ruling that make it very clear about XRP. The SEC has been clear about Bitcoin also. Now, the unfortunate reality is right now, there's clarity for two, Bitcoin and XRP. On December 22, 2020, the United States Securities and Exchange Commission sued Ripple and two of their executives, Brad Garvin and housing Chris Larsen, alleging that crypto asset XRP was an unregistered security. Nearly three years and $200 million of legal fees later, Judge Analisa Torres ruled that although the initial sale of XRP may be construed as a security offering, secondary sales of XRP do not constitute securities offerings. Hey, get some, baby! Get some! This is a landmark moment in crypto. But where does that leave us? What's going on with XRP and Ripple? And most importantly, what does all this mean for the XRP Army? As we look to the future and the next crypto bull run. In this video, we're taking a more detailed look into the XRP ecosystem and everything that makes it one of the most formidable forces in the financial universe. If you're in the BitSquad or the XRP Army, this is a video you can't afford to miss. And that's in direct order from the supreme commander of the XRP Army. Let's get it. Welcome to BitBoy Crypto! Home of the BitSquad. My name is Ben. Today, we're going to do a deep dive in the XRP ecosystem and swimming our way through the waves of Ripple. There will be nets and on -demand liquidity, so if I think of any fishy puns, I'll make sure to let you know immediately. But first, go ahead and smash that like button and turn on channel notifications. It puts you in the BitSquad and makes sure you get the latest and greatest about all things crypto. In order to understand why XRP is so important, we have to begin with the problem that XRP was initially created to solve, namely expensive and lengthy cross -border payments. The Society for Worldwide Interbank Financial Telecommunication was launched in 1973. Since then, SWIFT has provided financial payment services between banks worldwide. They do this through a messaging network which allows international payments. Right now, over half of all international wire transfers are done via SWIFT. The catch is SWIFT does not serve the purpose of clearing or settling transactions. This means they still rely on third parties for this crucial piece, which adds a lot of time, expense and inefficient complexity to the whole process. So let's say you want to send $100 from the United States to one of your crypto bros in Dubai, like Chris from MooM Crypto or Carl from The Moon, in exchange for them giving you a private lesson on how to make crazy reaction faces for YouTube thumbnails. Well, in order to do that, you just send the money via year bank, and it updates on the user interface almost immediately. But that's just what the user sees. It can actually take three to five business days to settle. That's a long time in the world of finance. Not so SWIFT after all, am I right? And while your bank is waiting, they could be losing a lot of money in conversion fees to swap between currencies or paying banking fees to move the value through any number of different intermediary networks. And finally, they could end up losing a lot of money because the exchange rate between the currencies might have shifted against them since you initiated the transaction. Now, for $100 between crypto bros, this might not be such a big deal, but the global foreign exchange market commonly referred to as the Forex or FX is the global marketplace for the trading of one nation's currency for another. It has a daily global volume that ranges between $5 and $9 trillion of value. That's trillion with a T per day every single day. Suddenly, all these little delays in fees and conversion costs turn into a multi -billion dollar cost of doing business. As I'm sure you can imagine, banks aren't happy about this, and you can be sure as Satoshi that they're going to find a better solution. Now, I want to explain this in detail because it's important that you understand the scope and scale of what's at stake here. Crypto is a lot bigger than just meme coins and fun NFTs. We're talking about a major international banking problem that digital assets are uniquely poised to solve. Ripple is aiming to be the solution that gets adopted by banks and institutions around the world for this. But with so much money and power at play here, it's important to remember why the SEC went after them in the first place. It's never been about investor protection. It's always been about protecting their power and preventing you from getting out from under their control. So, by all means, have fun in crypto, but pay attention and remember why we're in the XRP Army. Go ahead and smash that like button and turn on notifications if you support the XRP Army, and the awesome content we bring on this channel every single day. Okay, so now we know what the problem is and why it's such a big deal to the banks. But how does Ripple solve this? And how does that involve XRP? In 2012, Ripple developed a public blockchain infrastructure in response to Bitcoin, RippleNet. The resulting payment network was designed to provide banks and other financial institutions with a faster, more cost -effective and streamlined alternative to the notorious slow SWIFT for conducting cross -border transactions. RippleNet, as it's known, is a real -time settlement system, a currency exchange and a remittance network, all rolled into one. Initially, Ripple's products included xRapid, a liquidity product, xVIA, a payment application and programming interface, and xCurrent, a real -time settlement system. In 2019, xCurrent and xVIA were combined and rebranded to RippleNet. And at the same time, xRapid was renamed On -Demand Liquidity or ODL. ODL speeds up the transfer and exchanges of fiat between currencies and exchange of fiat currencies between countries. If you look on Ripple's website today, you'll see they advertise three products and services, cross -border payments, on -demand crypto liquidity, and a third product, a central bank digital currency platform. They even include a quote from the president of Plow about building their nation's CBDC on Ripple. Always nice when happy customers leave you a good review. Okay, so those are the products from Ripple, but how does XRP work itself? XRP is the native cryptocurrency of the XRP Ledger, a public blockchain that uses something called Fenerate Consensus to validate transactions. A big difference between XRP and other public blockchains is that participants in the Ripple network are known and trusted by each other. As of July 2023, there are more than 150 validators on the network and over 35 on the default unique node list, or D, U and L, a list of nodes that are trusted network participants. In 2020, I appointed myself as the Supreme Commander of the XRP Army because it sounds cool and because I trust myself to participate a lot in this awesome community. Transactions in XRP settle in about 5 seconds at a negligible cost. You know, there's no stronger appointment than a self -appointment. Sorry. XRP can't be mined, and no new tokens will ever be created. Founders issue the entire supply of 100 billion XRP tokens at launch. It will transfer at $55 billion of its 80 billion XRP tokens into an escrow account in 2017, for which you can sell a maximum of 1 billion tokens per month. That was done to improve the transparency of XRP sales for the rest of the market. XRP is fast, efficient and can handle 1500 transactions per second. The result is that their cross -border currency payment system has attracted partnerships with more than 100 financial institutions, including Santander Bank, the Canadian Imperial Bank of Commerce, Bank of America, and over 55 countries have signed on to use it with over 120 fiat currency trading pairs. Ripple also bought a 40 % stake in a cross -border payments firm called Tranglo to expand its ODL offerings in Southeast Asia. If you love learning deep dive details about crypto, make sure to go check out Billab Academy, by the way. Make sure you're educated to capitalize on the next bull run. Now, after winning the initial rolling in the SEC case, Ripple is wasting no time capitalizing on the hard -won regulatory clarity they received. Just days ago, they announced they joined ISDA. And when it comes to organizations with four -letter names, ISDA best won. ISDA is actually a prestigious trade organization. The International Swaps and Derivatives Association or ISDA orchestrates and standardizes contract agreements and other important legal frameworks in the derivatives and swaps market. They have serious international influence and a presence in 79 countries. The website also looks like it's from the early 2000s, so you know they're too important to care about being cool. Ripple joining ISDA could be a harbinger of big things to come, and it marks Ripple's strategic entrance into the world of derivatives. It also further cements XRP status as the favorite crypto of the TradFi big boys. It shows that Ripple intends to continue to integrate its blockchain technology into every aspect of the legacy financial markets. Simply put, they want the whole world's banking system to use RippleNet and ODL for everything. No big deal. Now, we're talking about what Ripple is building and some of the multi -trillion -dollar problems they're trying to solve, but there's a lot more being built with XRP than just what Ripple is working on for bankers. The XRP community is really engaging with XRPL, XRP Ledger, and building a lot of interesting projects. Global XRP Ledger community, a diverse set of developers, server operators, users and businesses maintains a ledger. Any changes that would impact transaction processing or consensus need be approved by at least 80 % of the network. Ripple is a contributor to the network, but its rights are the same as any other contributors. In fact, the XRPL Foundation is currently collaborating with community members to define their shared vision statement. So reach out to them if you'd like to get involved. The XRPL brings governance, accounts, tokenization, decentralized finance, and even NFTs to XRP and it was a much wider range of community -driven use cases than Ripple ever imagined or would be capable of creating on their own. In my opinion, this is what crypto is all about. Decentralization, innovation, community ownership. The XRP Army is truly setting an outstanding example for the rest of the space in this regard. You can check out a more in -depth look at some of the use cases for XRPL on their website. This cool project you can check out on your own are Soligenic, which is a trading platform that seeks to bring tokenized asset trading to institutions, Xpecter, a metaverse project built on the XRPL, and XRPL Punks or XPunks, which is pioneering NFTs on XRPL as well. My point here is there's a lot going on in the XRP ecosystem beyond just what Ripple is building for the bankers. The XRP Army is one of the strongest communities in crypto, and they've been building all bear market long. And this is something I've said time and time again, but it's something you really have to understand. I can't predict the future. There are no guarantees here. Regularity houses are right, and XRP does seem to have a unique advantage for the moment given the recent ruling that declared a secondary sale of XRP on securities. That's a huge win for Ripple and for XRP because it means that they have regulatory clarity in the United States, which is a jurisdiction that no other digital assets besides Bitcoin have, and that's actually a little fuzzy, too. So when they build things around XRP, they're building something that has a unique regulatory standing in the American market, and that standing could make what they're building very attractive to investors and users alike. But as we go forward in the next bull run, it's important to keep yourself educated. Watch what happens. Swim with the whales. Pay attention to who's building what and how much adoption they're getting. There's going to be a lot of strong competition. But Ripple has made it very clear that they intend to be a leading contender in this space for years to come. Yes, stablecoins like USDC might give them a run for their money in certain areas, but there's a lot more to XRP than just cross -border payments. Stablecoins and CBDCs cannot replace everything that XRP and Ripple are building by themselves. XRP missed out on a lot of gains in the last bull run due to market suppression following the SEC lawsuit dropping. I've long predicted that XRP will be one of the biggest gainers, if not the biggest gainer, in the upcoming bull run. But just because they won the initial ruling does not mean the fight is going to stop. The SEC is doing everything they can to appeal or overturn the decision. But don't let any of that noise rattle you. As Supreme Commander of the XRP Army, my biggest message to everyone in the XRP Army is get educated. Understand what XRP is. Understand what's at stake. Also, visit bitboycrypto .com slash take. Guys, make sure to understand what is coming. Stay focused. Stay ready. And stay crypto, my friends. That's all I got. Be blessed. BitBoy out.
"southeast asia" Discussed on Bloomberg Radio New York
"Sort of graphic schematic of an unnamed country's exports and you have to try to guess what country it is yeah exactly and i'm not very good at geography so often it'll say like like okay you're close but it's like you have to go 1500 kilometers to the northwest i'm pretty bad at geography so i'm not good but as playing this game and watching the way the different shapes countries export mix i feel like i've really started to learn things about the world i learned have so much about the economy of angola right so you see a country and it's like 80 percent of their exports are like coffee and gold right or something like that and you're like okay this is a relatively poor country it has a lot of growth left to do and then you country and it's like advanced circuits and medicine and and bananas and all the stuff and like oh and you start to see these shapes and these distributions that sort of like tell you things it's like okay i can guess maybe this is in europe or maybe they have a lot of things maybe in eastern europe you suddenly sort of learn like how rich countries goods exports really differ from poorer countries goods exports yeah totally there are three clues that it gives you one is distance as you just mentioned and the other is total size of exports that gives you an indication of how big or small that economy is and then third that thing is the nature of the exports and it sort of divides them up into different territories but it gives you a really good snapshot of a country's economy and as you play the game you start to recognize I guess certain economic export attributes yeah go with certain types of countries or economies right so integrated circuits in palm oil probably Southeast Asia right something like that anyway this game that you and I have become obsessed with it's sort of based on this work related to economic complexity the atlas of economic complexity this sort of idea and this is something that's come up it came up in an episode with Henry Williams and David Ox and came up with the episode we did with Dan Wong and why some countries can develop airline industries and other countries can this idea that complexity of goods exports is in itself a sort of predictor of wealth yeah and maybe it's also a desirable model for countries to sort of aspire to this idea that maybe they want to get away from simply producing a bunch of t -shirts so like 50 % of their economy is t -shirt exports or something like that they want to get to a place where they have expertise across a broad and value added sort of realm of exports or maybe they export a lot of nickel and they want to be in like find nickel right some nickel related avoid the commodities anyway this is sort of like really opened up a lot of these conversations playing like thinking about the world so i'm really excited about our guest because our guest has done more or work on this idea of economic complexity and why nations are able to develop complex rich economies he's also the creator of that atlas of economic complexity we're going to be speaking ricardo with houseman he's a professor at the harvard kennedy school and the founding director of the harvard growth lab all of my tradle friends are super excited about listening to this conversation dr hosman thank you so much for coming on odd lots oh it's a pleasure to be with you thank you for inviting me absolutely what is economic complexity economic complexity is an attempt to measure how much countries or places know what to do so i could try to measure know -how now if you if you want to think about knowledge you say well and i know people who have a bachelor's degree people who will hire high school dropouts people have a phd that sort of tells you how much a person knows but if you ask yourself how much does a society know well that would be different that would not be characterized by the average say the average number of years of schooling that the society has no a a society that is full of just dentists would know less than a society that is half dentists and half lawyers or a society that is a third dentist a third lawyer third engineers in so some sense you want to know how much the whole of society knows and one of the important things about knowledge is that knowledge at the societal level has been exploding exponentially but our mental capacity to know has not so the way the economy has been adapting and adopting growing amounts of knowledge is by putting different bits of knowledge in different methods sort of like parallel processing you know if you want to run a company you need somebody who knows about accounting about finance about marketing about human resource management about contracts about taxes procurement about about engineering so you want to have a lot of knowledge to run these things but you cannot stuff that knowledge into a single head you have to spread it into bunch a of heads and then you have to bring those heads together back again you have to kind of put Humpty Dumpty back together again so the way in which a society grows is it grows its knowledge by putting different bits of knowledge in different heads and then by bringing those heads together now if a society makes very simple things it makes things that that can be done by few people because the knowledge that is needed to make one of those things you know fits in just a a few heads but if you're going to do stuff that requires a lot of knowledge you'll have to bring many many more of these heads together you'll have to network these brains together to make that thing so emerges complexity as the consequence of distributed knowledge in society you have different bits of people knowing different things and then you have to bring those things together and then these complex networks emerge from that process so in some sense what is really driving growth is this growth of knowledge and the growth of using that knowledge and consequently it's the in spread of different bits of knowledge in different heads and the ability to bring those heads together to make relatively long chains of brains i have a bunch of questions already about comparing and measuring contrasting complexity versus the way economics has traditionally handled some this of but maybe a step back question why did you decide to start looking into what this is the benefit of looking at complexity within a particular society or economy it goes back to the question when Adam Smith asked himself what's the source of of the wealth nations he said it was the division of labor but why the hell would the division of labor matter and he gives a pin example factory that if you split the work and this guy does the head and this guy does the body etc then we increase productivity that idea I think has a kernel of what the story is but this stuff becomes incredibly powerful when you're talking about knowledge driving the economy and driving society so it's really about the division of knowledge that's what drives growth it's the division of knowledge that allows the whole to know more than its parts and so how would you go about measuring what a society knows how
Preterm Birth and Neonatal Deaths
"Hello friends, Genetic markers associated with preterm birth. Recently Indian scientists working in the GERS -INI program have identified 19 single nucleotide polymorphisms, SNPs or genetic markers, what have been found to be associated with preterm birth. The study was conducted by the GERS -INI team on 6 ,211 women from Haryana through a genome -wide association study on spontaneous preterm birth. Preterm birth is a significant cause of neonatal deaths and complications globally and around 13 % of babies born annually in India are born preterm. The study found that 5 SNPs increase the risk of early preterm birth, birth before 33 weeks and can predict premature births, 4 SNPs found in the cohort were significantly associated trans -ethnic. SNPs which showed associated birth in Indian women as well as in women belonging to the European ancestral population. The study is important for public health especially in India and Southeast Asia as preterm births are one of the leading causes of neonatal deaths. The research could help doctors identify women at risk of preterm delivery and monitor them closely. The study is significant since preterm birth is the largest cause of neonatal deaths and complications globally.
A highlight from 1211.Fixing The Metaverse Problem | Improbable CEO Herman Narula Interview
Dr. Aaron Palmateer Talks Product Costs and Why Labels Matter
"So there's a couple of things I just want to highlight or, or point on. And that is that the the cost there's a lot of things that go into why some of these, these products are expensive, but also the, the application method and just the importance of, but if you're putting on a product, you're, you know, let's say you're spending anywhere $50 up per a hundred gallons for, you know, you want to make sure you're doing it right. And, and, and that's where, you know, it's important to, to make sure you're following the manufacturer's directions on the label. The labels are very important guys. I know a lot of people that don't even look at it, but it's the law too. You know, it's the legal and, and so, but it's just so important. And one of the things that I tell, I want everybody to understand this is that if, especially if you're a customer of Harold's and you had any question, any doubt how to put that product out, you know, pick up the phone, text, email. Call your local rep, whoever you purchase it from, and they'll get you all the answers. Absolutely. Cause it's, it's just important. You don't want to be wasting your money. Cause in, in, you know, the, in even, I mean, some of the what goes into the development of those labels is so important because there's even environmental conditions where they say, you know, if, if the con these particular conditions are present, you need to spray it this way and this application interval versus, you know, cause, cause what they're looking at is they're targeting favorable conditions for whether it's the past or the pathogen causes the disease. Yeah. And so it's just, there's so much good information, but all the information that goes into generating that label costs money to build that, that foundation, everything from when, when these companies were paying me as a researcher at the University of Florida, but also from inception. So like, you know, a new, a new product, I'll give you an example. There's a, there's an insecticide called Altis that was discovered by Bayer, which Bayer is now called Enview in our world, but they, they found actually a derivative from a plant. So it's, it's got natural origin of fluperidiferone comes from, I think it's somewhere in Southeast Asia, they found this, this plant, they extracted, they discovered that it had insecticidal property. And so, so basically at the discovery level, you got all these scientists and the case with Bayer, they're over there in Germany in a lab and they're, you know, they're testing every aspect. And then, you know, so you've got all that cost that goes into just the early discovery stages, and then you go from, you go from discovery to looking at, you know, how, how does this fit into our world? What does it do? And then once you've figured out what it does and how to use it, then you go to the whole commercialization side of it. So there's a ton that goes into that, that whole process. And the other thing to think about is in our world, if you're growing an acre of ornamentals and you look at the cost, the value of that acre, some cases it can be well over a million dollars. Yeah, depending on where it is. Right. And then, you know, you go and you look at an acre of, of some, you know, corn or soybean. I mean, they shoot, they need a million acres to have like, I mean, it's, it's, you know, it's a night and day difference. And so, so the value is, it's the liability. If a, if a good company, a manufacturer stands behind their product, a branded product, and you have a bad experience with it, they're going to, they're going to come to the table and they're going to make it right.
A highlight from Mallory Millet (Encore)
"Welcome to the Eric Metaxas Show with your host, Eric Metaxas. Hey there, sports fans. I like to have fun on this program, and usually it involves friends of mine talking about fun stuff. For example, my friend Mallory Millett. Mallory Millett, Dana Herr. First of all, welcome back to the program. Thank you. Usually when you're on the program, we're talking about all this political stuff because I met you through our mutual friend Ann Coulter, and you're very active politically. So you're the director of the David Horowitz Freedom Center, blah, blah, blah. We're not going to talk about any of that. The last time we had dinner, you started telling me truly amazing stories of your encounters with huge celebrities in the show business world. So before we get into how you know one giant name after the other and your experiences with them, Mallory, how did you get involved in show business to begin with? Because now I think of you mainly as a political activist, but how did you get involved? Well, I was in the Rochester Theater Guild in Rochester, Minnesota, briefly, before I then went to live in the Philippines. Why did you live in the Philippines? Well, this was my first marriage, which has been annulled, and this is the father of my child. He was made president of 3M Asia at the tender age of 29, and we were sent suddenly over to the Far East. And I found myself living in Manila, so I joined the Manila Theater Guild, which was a group of people who had survived the Santo Tomas prison camp in World War II. They got together in the camp and decided if they did a little theater group in the camp, they might all survive because they have something that's occupying them. So they were a fantastic group of people, and once the war was over, they situated themselves in the Army -Navy Club on Manila Bay right there, in this gorgeous, big Army -Navy, very Somerset Maugham kind of setting. And they did this fantastic theater, absolutely wonderful. I had a ball working with these people. So I produced for them, I produced the Fantasticks in Southeast Asia, which was a big hit. Not many people can say that. I produced the Fantasticks in Southeast Asia.
North Korean Defector Reveals Shocking Life Under Kim Jong-Un
"Everyone understands your story we've had you on before but it's an amazing story you're a defector from north korea how many have successfully defected to america it's over just 200 of us 200 209 exactly i know but very few speak up right yeah why do you think the regime punishes all the family members who are left behind and they also try to kill assassinate the addition like me i'm i've been on the killing list for a long time now oh you're on the kill list yeah do you fear for your life i do but i live in new york city so i think i might get dying the subway more than before kim jong -un kills me at this point yeah some crazy homeless person might throw you in front of the subway absolutely that's a very it's a very real thing so but it's it's in your understanding that maybe kim jong -un might send an assassin to the united states i was informed by the south korean intelligence that such a thing might happen that i'm on the killing list so told me not to go to a lot of countries like where he killed his brother in malaysia airport so a lot of countries is so easier to hire hitmen that it just cost five grand to hire hitmen in many parts of the world kim jong -un right yeah kim jong -un was a brother who got killed in malaysia like stabbed in the throat or something no they put the they hire some actress girls rob a poison and just he died at the airport it was not even established rubbing some poison on his nose and that's how he died so what what countries are you trying to avoid uh i not definitely not malaysia yeah that's not gonna be on the top of the list a lot of the south american countries a lot of countries that has a relationship with north korea that like cuba iran i mean and a lot of southeast asia they have relationship with north korea so wow
How Can We Honestly Vet & Screen Incoming Migrants?
"I'm waiting for the impeachment proceedings We're going to impeach any of these people No it's a waste of time right right right The same bastards I kept going after Trump Investigations are always a waste of time impeachment is always a waste of time except when they're doing it Now they have the benefit of a corrupt Democrat party media cheering them on Don't get me wrong And they have benefited former phony fraud prosecutors who get on there and tell you what a slim done case they have But still you got to do what's right Go ahead Crowded we screen and vet the individuals in our custody You are a liar We have hundreds and hundreds of thousands of people in this country Illegal immigrants they call them ways We're not vetting or screening them that's number one Number two vetting and screening So somebody comes into this country from let's say Africa or Southeast Asia or central or South America or wherever they come from We ask them their name they don't have any papers How are we vetting and screening them We gave them a whole host of medical and lab tests where they have to wait in place until we get the results What does that mean you're vetting and screening them See this a hole for MSNBC he's just precious there Pitch and softballs down the middle of the plate
Foreign companies in China face growing scrutiny, pressure
"Foreign companies are under growing pressure in China as that government tightens control. China's anti corruption and security investigations are clashing with the ruling party's effort to lure foreign investment back after the end of anti virus control measures. Bane and company, the global management consulting firm, says police in China question staff and their Shanghai office gave no details of what they were looking for. The Minsk group which conducts background checks and investigations for international clients says its Beijing office was rated last month by police who detained 5 employees, the government also announced a security review of chip maker micron Inc, a leading supplier to Chinese factories. There's no indication the raids are politically motivated amid tensions over tech security, human rights, Taiwan, and other issues, Chinese companies have been targeted for even more severe action, business groups say global companies are beginning to shift investment plans to India, South Korea and other nations in Southeast Asia. I'm Jennifer King
"southeast asia" Discussed on Bloomberg Radio New York
"Raised the ante as far as tightening the policy. So it would really take massive hits or massive misses in the incoming data for the fed to backpedal from that kind of aggressive talk. I want to switch to China and I want to counter the strong manufacturing PMIs with the weaker inflation data that we saw yesterday. What is the data telling us about what's happening on the ground with the economy in China? Is the reopening sputtering or is it moving along nicely? First of all, the recovery or the reopening of China is still at the beginning or it's still at the early stages. So it is very unlikely to see inflationary pressures emerge so early in the game. So this would actually allow the PBOC and fiscal policy to maintain a supportive policy because while the PMI numbers have surprised to the upside. It's just too early to pull back the supportive measures right now. Policy needs to remain supportive to allow the recovery to broaden across the economy. So I would be expecting supportive policy to be maintained throughout at least throughout the first half of the year, but I would also be expecting that inflation in China would gain pace or possibly reaching around four and a half to 5% by Q four. That would actually limit the space of the PBOC considering that the policy targets is looking for an average inflation at 3%. Well, what about more focused on the tourism channel? That's one that we're watching, especially here in Southeast Asia with a lot of economies depending on that tourist tourists coming back, especially the Chinese tourists. Do you see that boom sort of happening in the coming months? I would definitely be expecting a return of the Chinese tourists. It's not going to happen overnight, but we're already seeing the return of some tourists to some of the Asian countries. In particular, I'm living in Singapore and I can really see that there has been an increase of the Chinese tourists incoming tourists in the in the country. Having said that, it's not going to come overnight because a lot of these Chinese tourists have not been able to renew their passports in the last three years, so that's going to delay that return, but it's not going to derail the return of the Chinese tourists. Eugenia, how good of a signal is copper right now on what's happening with the global economy. We had a fall overnight and a lot of that was attributed to China and some factors there that we can't take the time to go into now, but part of it was demand. But then the price has come up a lot over the past 6 months. Indeed, so before the reopening of China, there was the real concern that the global economy would enter a recession and that has really dampened the surprise, but having said that, that the levels that we had seen at the end of 2022 was not really consistent to our global recession. Now, as far as the impact of Chinese demand on copper, that's going the cyclical recovery in China is likely to usher in more demand for copper. But commodities are not always looking at the incoming data. They're more focused on the spot prices, which is very much dependent on
Is There a Spanner in the Works for China? David Goldman Explains
"Does what happened in the last three years factor into the rise of China? Well, will nations be less willing because of their seeding the world with those who were infected? Will there be a need for Beijing to do a mea culpa despite being a communist dictatorship? So does a wrench has a spanner being thrown into the works because of COVID for the plans of domination from the CCP? Well it depends on who you talk to. I think in the industry. I'm talking to David P Goldman. That's who I'm talking to. In the democratic world, there's going to be a lot of rancor. The likeliest scenario is that the Wuhan virus came out of an incompetent Chinese lab doing research paid for by Doctor Fauci and his friends and gain of function for a deadly virus. So we've got some wood to chop, where people would chop up in the United States. In response to that, China's main orientation now is towards the 6 billion people of the global south. It wants to dominate and absorb, as I said, assimilate into its economic system, the 700 million people of Southeast Asia. Several 100 million people in South Asia, Brazil, Mexico, and so forth. And it's making great strides to do that. The people of those countries are much more concerned about getting basic telecommunication services, health services and other things, which China is helping them to get. And they're less concerned about who to blame for the virus than what they're going to get tomorrow. We have neglected that. That's something where we should challenge China, China, and compete with them until to toe.
"southeast asia" Discussed on Bloomberg Radio New York
"Holidays. And India is actually finally looking like it may be more interesting. It's always been market waiting to excite and impress people and often not doing that. It does feel at the moment like India really is starting to move forward for a whole variety of reasons, including China moving back, and so India is interesting on a number of levels. And then Southeast Asia, you really have to go country by country. It's not our area of expertise. We don't really do anything there. Indonesia is potentially interesting, but I have not spent time there, so I'm not an expert on that. I think when you say you're as defensive as you've been, maybe ever, but certainly in a good long time. Does that include making sure you have a lot of liquidity? Does that mean you stay in cash or cash equivalents because you think there may be opportunities as the year unfolds? Yes, first we are as defensive as we've been at any point in our 14 or 15 years of history. And that does include a lot of cash. And it's not that we necessarily want to get ready to pounce on something, although it does put us in the position to be able to. But you really can't lose money holding cash. And especially with short rates having moved up so much, you can actually make a decent amount of money. On relatively short rates, you can buy two year treasury paper and make over 4%. It's all. It's all a lot better than potentially risking money in the equity markets at this moment. And then we do other things involving hedges and things like that to make sure hedge funds, hedges, to make sure our equity exposure or exposure to the equity market I should put it that way is down where we want it to be. Okay, Steve, thank you so much for being back with us. Steve ratner. He's the chairman and CEO of a willen
"southeast asia" Discussed on Bloomberg Radio New York
"And India is actually finally looking like it may be more interesting. It's always been market waiting to excite and impress people and often not doing that. It does feel at the moment like India really is starting to move forward for a whole variety of reasons, including China moving back, and so India is interesting on a number of levels. And then Southeast Asia, you really have to go country by country. It's not our area of expertise. We don't really do anything there. Indonesia is potentially interesting, but I have not spent time there. So I'm not an expert on that. Steve, when you say you're as defensive as you've been, maybe ever, but certainly in a good long time. Does that include making sure you have a lot of liquidity? Does that mean you stay in cash or cash equivalents because you think there may be opportunities as the year unfolds? Yes, first we are as defensive as we've been at any point in our 14 or 15 years of history. And that does include a lot of cash. And it's not that we necessarily want to get ready to pounce on something, although it does put us in a position to be able to. But you really can't lose money holding cash. And especially with short rates having moved up so much, you can actually make a decent amount of money on relatively short rates. You can buy two year treasury paper and make over 4%. It's all. It's all a lot better than potentially risking money in the equity markets at this moment. And then we do other things involving hedges and things like that to make sure hedge funds, hedges, to make sure our equity exposure or exposure to the equity market I should put it that way is down where we want it to be. Okay, Steve, thank you so much for being back with us. Steve ratner. He's the chairman and CEO of a willett advisers
"southeast asia" Discussed on Bloomberg Radio New York
"In the 99 one newsroom in Washington, Nancy, how are you? I'm good and I'll be here with you for the next hour. President Biden is on the second leg of a three nation trip. He's heading to Cambodia now for a meeting of Southeast Asian leaders, he'll then travel to Indonesia for a group of 20 summit meeting. He'll be meeting with Chinese president Xi Jinping on the sidelines of that gathering. Earlier today, Biden spoke at the UN's cop 27 conference in Egypt saying the U.S. is unwavering in its commitment to combat climate change. The actions my administration is taking puts the United States on track to achieve our Paris agreement goal of reducing emissions, 50 to 52% below 25 levels by 2005 levels by 2030. And Biden urged other world leaders to follow suit. While Biden is touting U.S. climate policy to world leaders, he suffered a setback at home as Bloomberg's Amy Morris reports, it concerns the administration's student loan forgiveness plan. A federal judge in Texas struck down the plan calling it, quote, one of the largest exercises of legislative power without congressional authority in the history of the United States. The lawsuit by two Texans claimed their education debt was excluded from the program. The loan forgiveness plan is already on hold under an emergency stay in a separate lawsuit brought by 6 Republican led states, the Justice Department says it will appeal the decision. In Washington, I'm Amy Morris, Bloomberg radio. Twitter has suspended its $8 subscription program to combat a growing problem of users impersonating major brands. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists
"southeast asia" Discussed on Bloomberg Radio New York
"And North Korea has fired a missile over Japan for the first time since 2017 Dutch has all the details from the Bloomberg newsroom Doug. Hey, Juliet, the Japanese government is saying this missile appears to have splashed down in waters east of Japan earlier, the Japanese government had broadcast and noticed to members of the public particularly in the northern part of the country that this missile was heading toward them, and they were recommended to seek shelter. Sophie Jackman is Tokyo bureau chief for Bloomberg. This was pretty unusual this morning. We had seen a major ramping up of North Korean missile launches in recent months and particularly in the last week or two coinciding with vice president Harris visit to this region. And even to the demilitarized zone that separates North and South Korea. But today's missile crossing over the Japanese mainland and into the ocean was the first time in 5 years, as you said, the Japanese government issued the Jay alert, which is a civil defense warning system that tells people to hunker down in heavy concrete buildings or underground. That is Bloomberg so Sophie Jackman from our Tokyo bureau, by the way, Kyoto is reporting that meeting of the National Security Council is underway and South Korea has warned of resolute response after this missile launch. We go to Ukraine next where troops have been unleashing a renewed counter offensive against Russian soldiers this move comes in the southern curse on region and it has been really showing no signs of letting up Ukrainian president zelensky was saying liberating settlements from Russian occupation is now a trend from the other side Russia has successfully struck another hospital in a city in the kharkiv region one doctor was killed a nurse was injured as well, and Elon Musk is drawing the wrath of Ukrainians for Twitter post urging Ukraine to seek a negotiated solution to the Russian invasion and to cede Crimea for good. Musk also launched a Twitter poll asking citizens of occupied areas in eastern Ukraine annexed by Russia to decide if they want to live in Russia or Ukraine. Well, the reaction from the Ukrainian side was immediate president zelensky responded by posting his own poll on Twitter asking his followers if they preferred an Elon Musk who supports Ukraine or Russia. And the Biden administration is set to announce new restrictions to keep Japanese companies from accessing U.S. semiconductor technology. We are told the commerce department will roll out a package this week. It will spell out semiconductor technologies that can be exported to China and will codify earlier guidance on specific Chinese companies. Obviously, this move is aimed at curtailing Beijing's ambitions to craft next generation weapons and automate large scale surveillance systems. That is a quick look at global news, Juliet. Thank you so much, Doug. Let's get to our guests now, James chill, Southeast Asia, CIO at HSBC global private banking and wealth joining us from Singapore. Obviously want to talk about your views on the Asian markets. But when it comes to the global picture, do you agree with what we heard from Ed yardeni that the fed should consider stopping its tightening campaign because of the stress in financial markets. Oh, well, I think to take a step back, what we are seeing is that central banks have shown that they are willing to see a slower economy just to beat inflation. And I think they won really a somewhat weaker labor market. So I think markets should actually focus, therefore, on how much rate heights will actually slow growth down. And I think earnings the season that's coming up will be key and of course earnings forecasts have been coming down, but of course you're going to expect negative guidance and stuff like that. But I think in terms of strategy, investors should actually be positioned a bit more defensively in terms of sector stance in the weeks ahead. Indeed, and when it comes to the earnings it really is whether or not a lot of the bad news has been factored in and that way you can see some upside in equities or will they disappoint and push new lows. What's your view there? Yeah, well, I think quite a bit of the bad news are already in the price. We kind of maintain our neutral allocation to global equities to kind of benefit if there is any bounce up from here and clearly there are plenty of quality companies with resilient earnings manageable leverage. And of course, with so many great heights already priced in. I think the downside for earnings multiple ratios looks a bit more limited from here. So I think it's going to be quite a new one's approach. You want to differentiate and go for geographies and markets that still and companies that still have robust earnings growth. So where are those companies what geographies as well are you looking at? Well at this stage we still continue to be in terms of equity markets. We continue to be overweight in the U.S.. Within Asia, we like Hong Kong and Thailand because of the reopening prospects. And of course, in terms of sectors, we want to be a bit more defensive looking at consumer Staples and perhaps some selected names in energy. You're talking as well, though, that you like the Hong Kong and Thailand story. I mean, Thailand is already reopening and is very seeing some strong upside there. Hong Kong is one that we're looking forward to as quarantine ends. Just tell us where I guess the opportunity is there. Is it just the reopening stocks have been Hong Kong is such a big picture when you look at the tick regulatory crackdown as well? Well, I think for Hong Kong's case, it's really the story of reopening. I think that's quite interesting. But of course, within reopening you also want to look at domestic retail landlords, financial services, airlines, ultimately I think that whole pent up demand for tourism and consumption. I think that would actually bode well for a lot of undervalued assets within Hong Kong. All right, when we continue, I want to get more of your thoughts as well about Asia and currency markets to particularly as we've seen the impact of this strong dollar James duo is Southeast Asia's CIO at HSBC global private banking and wealth on the line from Singapore for us here on Bloomberg daybreak Asia. As Brian mentioned, we are seeing a pretty good rally coming through in Asian equities following the momentum that we saw on Wall Street. The ASX 200 is among the frontrunners it is up over 2% although the topics in Japan now up by 2% as well. South Korea's cost be
"southeast asia" Discussed on Bloomberg Radio New York
"Has really ramped up in China at this point in time Well the way I want to leverage your expertise for the bigger picture Most countries are pursuing zero carbon strategies And that's going to weigh on all kinds of fossil fuels Post 2040 is that going to be kind of the inflection point Is this the golden age of gas until then Yeah so this is a great question So I think I'm going to shut them clearly The energy science is almost being put on hold for now Energy security has really become the number one concern for many governments around the world And as a consequence of that not only Europe but in places like Asia all the way from China to India Southeast Asia co main has now accelerated in the short term at the very least And I think from an energy transition standpoint this is clearly not great for an environment not great for global missions Our view however is that over the midterm So let's say between 2026 and 27 we do expect that energy prices will moderate over time And hopefully if that happens demand will get improving again And so what you find then is that in some places especially in Asia code gastric becomes restocked And that helps the transition By the same time our belief is that renewables and renewable boom will continue both in Asia and across in Europe We've already seen for example the EU launching its new re power Europe plan and if indeed in fact upgraded ambitions especially in solar and wind And so we think these are kind of big winners over time And we see that progressing well in Asia also so despite solar prices for example rising 20% last year the rises as parents significant compared to let's say the rising coal and the energy prices So the question is there's a question of scaling up And faster of course the work and decarbonize you need more and more renewables But I think that big winners also in things like CCS hydrogen of course and indeed the whole carbon trading market obviously.
"southeast asia" Discussed on Bloomberg Radio New York
"But impact these closed loops factories do help but it does have an impact And then also you have also not just backlog even if you can get things made You might have impact from a logistic point of view and getting it out of China right So I think you do you know it highlights the fact that we need human mobility for economies to function and we live in an integrated world a globalized world despite all these talks about decoupling of supply chains That takes decades to unwound right And there are many incentives for companies to stay in China but of course this was again highlight with zero COVID with the trade war The fact that the world needs more diversify such supply chains but that needs to happen over time not suddenly And I think that will cause disruptions in different ways right There are reasons why people are supplying goods in China because it's more cost effective from an economy scale as a point of view So I think that beyond the short term supply chain structures if we consider the pondered the longer term implication of supply chains being rerouted there will be winners and losers but also can create costs as well because this needs to be reshuffled Well let's pick up with the winners are and I mean you're in Vietnam at the moment we're certainly seeing Southeast Asia growth strong and I know you're looking at Singapore too to be a FrontRunner in terms of building its economies more strongly Absolutely So if you look at the PMIs it's very clear that while China recorded the second worst for services and full manufacturing was very very weak in Southeast Asia with this highest reading it ever had right So one thing is that while China has 20% market share the rest of Southeast Asia also have quite a large market share particularly in Vietnam it's almost super sound global market share particularly in sectors like footwear electronics quite important But that said you can have a substitution impact right We know the demand in the U.S. and Europe remains to be strong And it increasingly in the rest of Asia Now Vietnam can ramp up its factories footwear factories and electronics factory but only earbuds of apple is made to Vietnam And so you really there's a limit to how much Vietnam can take from China There's a limit to how much the rest of Asia And the longer term implications is India has to step up But it's far from that because its market share is actually lower than Vietnam So if people pull investments out of China will they continue to move it to places like Vietnam Very quickly The absorptive capacity of Vietnam is almost reaching its capsule to capacity So I think they will need to find other areas and they will certainly go to Vietnam where it's cost effective Like I said Vietnam Singapore Singapore is gaining from a service perspective right And the arbitrage.
Victor Davis Hanson Analyzes Vladimir Putin's Escalating Nuclear Talk
"Sir what do you make of his escalating nuclear rhetoric You think it's a bluff I mean again a lot of folks miscalculated with a lot of experience dealing with the region who thought as I said before he would just stick with the eastern region of Ukraine and not go any further That clearly was not the case Given a black swan event like a nuclear attack it's not the type of thing we can just cast off and disregard Your take on why he's escalating the nuclear rhetoric Oh I think he realizes that in every incursion invasion the key to whether you win or lose or borders and we lost in Vietnam because of the Ho Chi Minh trail in the Southeast Asia supply depots We had a tough time We don't really last map down us down because of the Pakistan border in Iraq Syria and Iran Anytime you have that fluidity and you can be resupplied you're not going to win And he's looking at the statistics it's in many thousands now of javelins and sams that have been sent in there and you look at that picture of that convoy and in theory those jobs that new improve can hit something that over two miles and the guy could be in the forest beyond the flanking infantry guards of that convoy and take out a lot of vehicles if they have that many of them So he's thinking well I've got to get this over with and when and these people we've got four NATO countries that are that are going to stop me And so I'm going to threaten a nuclear strike on the west but when you look people have remarked about the look of these generals when he said that I don't know if that's indicative of a thing but I think yeah I don't
China Military Spending Surges, Larger Than South-East Asian Countries
"Now we have talked about Russia But there's an access of evil out there As they used to call the old access of evil of course but it's more than an access but nonetheless More than three countries But right now I'll distress Russia China and Iran And over breitbart here's a report China military spending surge Now 50% larger than India Japan Taiwan Southeast Asia combined Now that's frightening Because China has all of them in its target in its hair China's determined a match is aggressive military talk in Southeast Asia was spending Report by the Lowe institute in Australia Of course we're not going to get it for the center for American progress Most of the American media shows in 2021 it achieved just that as other reports indicate Beijing is looking to establish its first permanent military presence on the Atlantic Ocean a tiny Central African country of Ecuador Guiana According to the latest Asia power index China's military financial outlay is more than 50% bigger than the countries I've already mentioned to you In its annual report the U.S. remained the most powerful country in the Asia Pacific region with China coming in second place after steadily growing influence on the index in recent years
"southeast asia" Discussed on Bloomberg Radio New York
"Careers Grab those public the Southeast Asian ride hailing and food delivery giant hitting the public markets in a $40 billion spac deal trading under the ticker grab Investors however seem skeptical as the company closed down 21% from this back's last close on concerns about whether grab will ever be able to turn a profit I spoke on Bloomberg markets with wheeling ten grabs cofounder take a listen We chose the path that enabled us to get to the most important objective first which is to get the best investors for our day one cap table And with that based on our pipe investors that were attracted to the long-term growth opportunities that we've seen and the very low redemption rates that happened during the D spot process we are actually extremely happy with the outcomes that we've achieved as well You've turned grab into a super app including delivery payments but also of course ride hailing How worried are you about a resurgence of COVID And am a crime right now So I think a critical part of grabs growth trajectory over the last two years has been our super up strategy that has enabled us to be very resilient to the COVID challenges To share a bit more about what it is think about grab as Uber DoorDash and Venmo all in one Now from the day from the day when it starts when you wake up all the way when you go to bed you're able to get your breakfast pay for meals send your friend gifts by groceries and warm And why that is really important is because it enabled us to have things like shared fleet strategies with our largest driver partner network in the region which enables our drivers with their super apps to decide if they want to transport people deliver food or groceries seamlessly end up and therefore enabled us to very quickly pivot from mobility to deliveries over the last two years Now with this super strategy we're very confident that we can continue to serve the needs of Southeast Asia's users and our partners Despite whatever challenges COVID continues to throw over throughout us All right All right Still though losses widened to $988 million in November for the third quarter Revenue also declines slightly When do you expect grab to become profitable So a bit of context a large portion of the last quarter's results were because of noncash expenses There were more than $700 million of it Much of which will actually no longer be required with the defect that we just went through Now for us the other important thing is that growth and profitability are not mutually exclusive And you've seen that consistently from silver the past few years where we've consistently developed very high top line growth while also making very significant progress on our bottom line profitability For example our mobility segment is already segment a bit of positive with market leading margins our delivery business which is a very young business only three years old also is a bit the segment positive for various markets that we have Ultimately for us what matters in our portfolio allocation strategy is that we will continue to invest into areas that we see huge tremendous opportunities and very strong momentum behind Wheeling ten there cofounder of grab You can catch the full interview at Bloomberg dot com Meantime the rapid grocery delivery startup Joker raised $260 million in new financing from investors The company now has a $1.2 billion valuation Joker aims to bring customers groceries and other consumer goods and just 15 minutes It operates about 200 micro fulfillment centers across 15 cities Coming up it was first detected less than two weeks ago but there's already a new drug by showing promising results fighting oh Macron The CEO behind this new treatment joins me next This is Bloomberg You know the difference between your bank and the banking business The new chief executive will take the bank in a different direction Your clothes and the fashion industry This.
"southeast asia" Discussed on The Lawfare Podcast
"Goto nectar sleep dot com. That's nectar sleep dot com. So i wanna move to refugees. South korea is taking it. Hundreds of afghan citizens in president moon said that the country had a moral responsibility to help those fleeing taliban rule. Those refugees have been given interesting designation as Persons of special merit wondering if you could walk us through with that with that means so this i think is an example of a south korea giving back to the international community a you know it was not within my lifetime but certainly with within the previous generation of mine where career emerged from the ravages of war and was a country poorer than haiti Was a net donor recipient And now you know clearly. It's much great much. Bigger than haiti. It gives eighty now and it's now one of the few always see countries. That's not just a net donor provider but is also increasing their overseas development assistance budget so um koreans and not unfamiliar with the concept of public goods and giving back to doing things that give back to the international community. And i think this is one example of that you know they were. They said early they were. They have been involved in afghanistan. They have been sending peacekeepers air for for some time and they are trying to do their part to absorb some of these folks that are leaving and that will be given special status. I'm not. I haven't looked close enough to see what that special status entails whether it entails a permanent residency and working permits and things of that nature. But i'm sure that elements of this. That will certainly make it easier for these refugees to either ab- selling korea or to create. Be a good Waystation before transitioning to to someplace else. Republican also took a lot of asylum seekers from yemen a few years ago in that spark somewhat of a a backlash within the country. Have at any of those debates reemerged. I'm sure that they will in some pockets of the of the society. I'm sure they will. Especially because this is an election year in korea the single five-year term. The president ends and they'll be an election in march. So it's entirely possible that issues like this could come up and be politicize. Pretty quickly But you know at the same time though. I think you know right now. We are progressive government korea. Willa conservative government. Conservative candidate really tried to attack The the sitting government and the and the ruling party for taking in these refugees. I think it would be a tough one to be a very delicate one. That could that could backfire on. I think the other aspect of afghanistan for The korean population. When i think about the us commitment is that part of the reason for forming out of afghanistan is so that the united states could devote more attention and resources to the broader strategic challenge from china so in a sense. It's not a question of the us banning it's commitments in asia. It's really laying the groundwork for it to double down on. Its commitments to asia including allies like korea. The only place where i think the afghanistan issue might impact of the way koreans thing negativity has to do with the fact that this is completely absorbed. Attention of all the top policymakers in the white house in the state department and for koreans. That means that there's less high level attention being devoted to their number one security problem which is north korea And so. I think my my senses when i talked to officials and opinion leaders in korea that they're comfortable with the fact that the us commitment will not be to korea will not be impaired by what has happened in afghanistan but they are concerned about the level of attention that has been given to the issue in how it may detract from the ability to work with vitamin station on trying to make progress on north korean nuclear weapons or korean peninsular peace process the really big issue for the us. Korea alliance strategically going forward is china. And what choices. Korea is gonna make on china because the united states obviously is a key security partner for korea but china's the key economic partner even as create tries to reduce its dependency on. China is still the key partner. And so this means very difficult choices for korea in between these two whether you're talking about five g. or supply chains or free and open indo pacific or one belt one road awry these very difficult choices for that many. Us allies have to make but in particular for korea because they are the only one of those us allies. it are physically connected to china On the mainland of asia so in the end that is the much longer term and more significant strategic issue for the korean peninsula. Look going forward. Julian coup is the maurice adeem distinguished professor in constitutional law and professor of law at the maurice a deane school of law at hofstra university among other subjects. His writing for l'affaire includes research on taiwan. Julian thank you so much for joining me. Let's jump right in a few weeks ago. During the withdrawal from afghanistan president biden made a comment in an abc interview that necessitated some clarification from the administration when he was asked if america was still a reliable partner for countries like taiwan he said quote. We made a sacred commitment to article five that if in fact anyone were to invade or take action against our nato allies. We would respond same with japan. Same with south korea. Same with taiwan. It's not even comparable to talk about that end quote that caused the administration to clarify that. It hadn't changed. Its policy on taiwan because quote president biden placed taiwan alongside countries that the us has rock-solid defence agreement defense agreements with so on that note. I wanna start with a very basic question. What is the us security relationship to taiwan question so actually Wonder residents living in seventy eight. So until nineteen seventy nine the. Us had exactly the same defense commitment to taiwan. That had the south korea and japan. It was a mutual defense treaty of five. By the senate and famously seventy nine. The united states abrogated treaty at present carter in order to reestablish full diplomatic relations with the people's republic of china that will china Communist china incest since then The us has had no Treaty obligation to defend taiwan. But what's happened is a series of actions by congress and by presence over the years have a stated policy of us a commitment to support taiwan's ability to defend itself. And i think that's the easiest way to describe it so But without making explicit Before nineteen seventy nine to come to the aid of taiwan in the same way that it would for japan or south korea or nato so against that background The congress.
GM, Ford Halt Some Production as Chip Shortage Worsens
"The global shortage of computer chips is getting worse and that's prompting automakers to temporarily shut down factories General Motors says it will pause production at eight north American plants during the next two weeks including two that make the company's top selling Chevy Silverado pickup meanwhile Ford will stop making pickups at its Kansas city assembly plant for the next two weeks and cut shifts it to more truck plants in Dearborn Michigan and Louisville Kentucky industry analysts say the delta variant of the corona virus he said employees at chip factories in Southeast Asia hard and that's for some of those plans to close or sending a chip shortage that had been starting to improve the cuts will compound an already short supply of new cars trucks and SUVs which has pushed prices to record levels I'm Ben Thomas
"southeast asia" Discussed on Cyber Security Weekly Podcast
"Yeah from the enterprise. Singapore is by far the most mature I think enemies talent in my opinion are quite close In the bigger companies. I think once you kind of go down. From the the bigger companies it starts to deteriorate a bit but the bigger companies in the tech companies because they're utilizing the cloud. They're more forward. I think on the security front. They are spending in there also taking it quite seriously. We'll see a lot of conceited like surf interested in solving security problems but The you have other troubles there like procurement quite different a lot of cases. You're doing business. In a local currency language. Some companies contracts english things like that so there is hurdles that don't don't get me wrong but ultimately i think the markets are worthwhile entering now. If you're coming to australia there may be other markets. You want to enter in. I in in these two hundred sixty nine people so much bigger than us. Australian closest biggest. The us right. So i think it's It's quite a big market and it's growing fast. I think that is something that's important. Get earlier rather than later. I think yeah. I think you're spot on. I think we under the is tonight. The sophistication up there as well. You know again. The mommy southern talking about thailand. Bangkok is a lot of head offices in bangkok for global companies. Anyway uplift everyone around them now. We had promised to do They miss configured cloudy infrastructure. We might get back on the topic. Sorry businesses always interested me What is it the common issues that you do find. Where do you think companies struggled from. Is it the I've ally of regulations and compliance as because as you said this full hundred so the rules there that that's a challenge for any company or is it just the speed of transformation that they nanda to cloud weighty think Some of the case configurations are some of the sort of areas that company should be focusing focusing on along so the transformation. Yeah i think You know no different than the traditional environments like patching israeli one of the major problems. Like when you're running Network and keeping holly assistance update. You know like the concepts. Writers have taken care of a large portion of that. But in doing that..
"southeast asia" Discussed on Cyber Security Weekly Podcast
"Services side of the businesses important part of strong product company because of their research and development Efforts that are necessary in specifically in separate skier in and really all of technology and again from the services side what connoisseurs defining a a you. In what the industry verticals that. You kinda stronger stint. Yes i think. A regulated industries in. Singapore is in the regions cases. Always going to be focused. They're required to things like penetration testing in compliance. Were but the tech industry is well. Even companies that aren't regulated are are starting to feel pushback from consumers on investing insecurity and making art of their branding and marketing efforts as well Because more and more companies are starting to see like how serious it can be There's a large data lawson duper government. Sent a good job of Communicating with these companies in talking about the fines that You know potential fines that that could be their data is lost. Or if data's handled incorrectly. I community is starting to take san francisco much more seriously. I'm seeing quite a bit of growth in the s eight or nine years. That i've been here. You think legislations working now like they needed legislation to make security get up to that level and themselves take it seriously. I think there's two things that drive several security that growth that sales is regulation in fear. And i think we're kind of in the middle of both of those regulation. I think that's true. I mean in in both cases. They do dr cyrus thirty spending adding also makes the organizations and governments more secure because In right now. I think we're kind of in the timing of where we're boats are kind of hitting the regulation it's becoming more pronounced. People are talking about it. More more punishment in terms of the companies that don't do their Sort of them requirements in terms of security and in the fear is also happening because there's plenty of breaches going on around the world. Much publicized were three to five years ago and southeast asia. full you. You've obviously focused their in singapore. You've mentioned correa. You've got other other stuff in korea at how has spread at. Iu across the is e. n region. The majority of our workforce is in singapore with indonesia being the second big office big office and then we of have people spread around the different parts like hong kong philippines. Another in us. It's well But i think we'll continue to grow that effort especially now our kind of a remote company regardless of Where gabler at So i think that's a concerted effort for us to hire the best talent regardless of location within a certain times restrictions..
"southeast asia" Discussed on Cyber Security Weekly Podcast
"Yep yep we're actually using a security audit account in most cases to to do this. A lot of the value comes from making it easy to solve these issues and keeping on top of it right because you run a scan anytime but running it every day or anytime there's a change made in our case and notifying the organization. Yes slacker out. That change has been made that maybe security issue. We should look at it quite important important of the process of than keeping a secure in fixing things in a meaningful timeframe so we kind of enable them to do that as well as track at all. So there's historical records of what's happened. Who's done at a change. As can you fix them. Which allows organizations to improve in terms of other security buster over time kind of working with ms pays a were detained to work directly with the client. I think it depends on the size of the business in some organizations. do choose to use. Mssp's in we have a lot of emphasis partners. Then use our product to secure their customers client structure and p vr customer but all time to go direct as well. I think it really depends on the maturity in sort of industry. They're in as well. So if you're a fintech generally are gonna manage it themselves but if you're in a less Sort of Regulated industry about sense of mississippi. Yeah so you the question was. You've got a myspace within your portfolio in other words. Yeah now you mentioned creativity you've got about one hundred staff seventy there in. Singapore have have quick has. That has that growth bain. And maybe that'll be sort of a good insight into the subscript landscape air in singapore. We hear a lot about skills And demand on skills so it sounds like businesses being healthy exactly not sort of a consistent degree of growth for you. Yeah definitely. I mean i think Last year it was difficult for everyone. No one knew of how it would affect the industry. Ultimately everyone is expected as thought so twenty twenty or about sixty five people twenty twenty one grew about fifty percent already known. So i think that's been a good cited some reflective of how resilient our business during She doesn't nineteen. I think we were a little bit less than fifty people in two thousand eighteen route. Twenty pretty rapid growth. But not the type of growth in a bbc business fisher but rapid tribute to be very good was a bit of a question there in terms of is the growth coming from your platform and the sas because obviously that's great growth because that's That's what the businesses oversee saying to be designed full or. Is it more on your side. With the locks of waking from hyman the name of the pen tasting in a bit more accreditation on that saudi. Yeah we which saw of the growth is there in terms of what the client's donating. Yes i'll see two to twenty one otherwise it gets complicated but Twenty twenty one. Both businesses growing services is growing at a quick rate..
"southeast asia" Discussed on Cyber Security Weekly Podcast
"Of both our products and services for for a long time while agree with the bekker's of good. Jake isn't good jay. J. bekker's with visiting in news. Well did you find that. The investors a commonality with the investors. Eventually some investors did invest in us. But it wasn't always the case definitely had done a customer for had any real investors so we got the customer before taking money from other investors invested in them. Yeah and you obviously knew the sector quite wilbon coming from grab as well so you knew what the requirements were and yeah you just need someone to they could grab raw. Yeah exactly You'll before that it was a pound tears while and spent quite a bit design. They're working on both intelligence in san mosquito problems. So has background and experience already anonymous. More about Working on the business problems. The book companies faced in helping themselves the security settings. Yeah we'll maybe let's talk about the. The release came out. I hadn't heard of her on gained till i got this and this was a a release that came out Working from home could increase. Security risks will southeast asia. Organizations judah is configured cloud infrastructure And maybe this comes down to also bracingly. Bain inducted bossing oppose infocomm media development authority or the i. mdi into the accreditation at s jd program. Which understand is it'll be luck. I rap program Ways you don't get a credit to the. I think you get assessed so might be slightly different Might be focusing to the cloud infrastructure. And what you finding around these configurations. And i want level you. Finding it is at the network level. How applications erode as well. Yeah i think so we are a cloud. Security farm at one of the main areas refocuses on out security. Posture management is a gartner category. That were listed in but essentially what that means is we're looking at all the configurations of cloud structure that were integrated with and seeing what kind of maps to best practices in terms of security..
"southeast asia" Discussed on Cyber Security Weekly Podcast
"Tv now. Taking sick weekly. Chris coverage on the executive editor we'd march security media and this is on tuesday afternoon episode. I we're gonna be crossing to. Singapore poll heggie to c. n. founder of her energy security. And we'll give me looking at the working from home and a racing funding that die made. Everyone's been funding this as well increased security risks for particularly asia with conveyancing pool at judah misconstrued cloud infrastructure so abby. Good to get across what he's been doing at the. Benny ran for beth. Six years so plenty to tell the whole. Thank you very much for joining us. Thanks for having me looking. Forward to to jet-setting good man. Thank you am. it's a great background is the first night And the ananta in korean hungering irony means taga correct. Yes yes that's that's why. Have all these tigers me very good. It's it's always nice to see a particular fan of the asaba security startup and particularly one. That's obviously put some thought into your branding and being the tiga enough should maintain Was watching We published a book chose the tiger as a cava given the top of based cities rather than a line. Maybe focusing us harangue away your Your roots came from and then around the brand and what you've been trying to achieve elastic. She's think originally. We started the company. I was actually still working at grab she so there and we were doing it as a consulting business stars but our first customer was actually training incident response techniques to the korean government program. They called best of the best school school for graduate that are interested in cybersecurity and go through a long training course so as like where we got started and we're talking about starting a company in subsequently eight said it's of course in asia tigers the protector and very fitting for a security company Critiques and all that stuff so sentence army and obviously they have a bit of a still th capacity to raise a red teaming in the like we did you with jesse mike stott You've got to assess platform belabor moving to sort of the cloud infrastructure and configuration but the built up over time. Did you stop. Because i think it's always a good story. Even from australian startups perspective any startup headed you galabat partners as well yes so myself and the other co founder who's also very successful cybersecurity expert himself Essentially we started idea around..
Afterpay & Square Say Buy-Now-Pay-Later for EVERYTHING
"This week's episode. We'll talk about the buy now. Pay later craze especially the square after pay deal will revisit. Some surprising advertising spend numbers released from fang talk a bit about canadian startup. Who has an interesting take on consumer health tech unless they try to get more context on how. Amd fits into the narrative of vehicle chip shortages here in canada. So regarding this. On the morning of tuesday august third joel. What have you been paying attention to markets last week while bad news at a china continues to kinda hit markets. They called the video game. Is i can't remember what the exact quote is but effectively. It's cancer for your brain. So they decided that they're going to regulate video game makers for those under the age of eighteen which obviously hertz one of my favorite positions ten cent they are. I mean they are the synonymous with metaverse in video games themselves. They have experts of epic which fortnight they own a ton of the video game ecosystem in the in southeast asia and the stock got smashed little seven percent or eight percent today back down to its low from last week. I do think long term that when you allow for a massive conglomerate like ten cents to have better clarity around regulation and then you create rules and then allow them to continue to operate within those rules that is insanely bullish for the incumbent because it now makes it that much harder for businesses to enter the space and participate because when you massive regulatory hurdles to get into the business will the economics are now more expensive so now in order to compete with the big boys it's that much harder and it just cements them even further
"southeast asia" Discussed on The CyberWire
"And that's the cyber wire for linking all of today's stories check out our daily briefing at the cyber wire dot com. The cyber wire podcast is proudly produced in maryland out of the startup studios of data tribe. Where their co building the next generation of cybersecurity teams and technologies are amazing. Cyber wire team is elliott peltzman. Precaut- kelsey bond tim. No dr show. Cara ghent enrolled. -tario ben yellen. Nick valenki jana johnson. Bennett mo- russell. John patrick jennifer ibon. Rick howard peter. Kilby and i'm dave vitner. Thanks for.
"southeast asia" Discussed on The CyberWire
"Cybersecurity after the felony computer crime businesses resolved. Here's one more incentive for schools to up their security game not only will it. Protect your systems but it will remove what the lawyers might call an unattractive nuisance to.