35 Burst results for "Ten Billion Dollar"

Supreme Sells to VF Corp. Will it Sell Out?

Business Wars Daily

04:47 min | Last week

Supreme Sells to VF Corp. Will it Sell Out?

"It's an entrepreneur's classic dilemma. Can we keep the culture that makes us unique and made a successful and still sell our company. Nowhere is this dilemma more stark. Then with underground street where companies supreme which recently announced that it selling to fashion conglomerate. Vhf corp you know. Vf the ten billion dollar company that owns nineteen brands including north face vans and timberland well in case she were doomed scrolling in miss the big news last week. Vf announced its deal to acquire supreme. For a couple billion dollars it's bs big acquisitions since it bought timberland and twenty eleven also for just over two billion dollars bloomberg reported. Now you've probably heard of supreme but just in case it's a streetwear company. It sells branded. T shirts hoodies hats and their fashion. Ain't cheap. The label launched with a single skateboard shop. In new york city in nineteen ninety-four the brainchild fashion designer. James jeb jeb. Lia will remain at the helm of the brand supreme at big by doing everything. Mass market brands don't do it. Amplified scarcity in a big way. Supreme spent almost nothing on marketing building. Up word of mouth instead. According to cnbc it opened brick and mortar stores. So slowly that. Today there are only twelve around the world and you couldn't just walk in to make a purchase. No the only way to get supreme. Fashion was to follow them on social media like a hawk waiting for them to announce random drops of merchandise. Today those drops our weekly getting a spot in line for the privilege of buying anything was intentionally almost impossible at the height of their popularity. Wannabe customers would camp out in tents or sleep on the street to get a spot in line. The next morning teens also commonly spent a couple of hundred dollars to purchase online bots that notified in the second clothing dropped but that notification guaranteed nothing products could be sold out in less than a minute that strategy in turn created hot resale market t shirts and hoodies that originally so for sixty to eighty dollars could fetch up to a thousand bucks on ebay and other resale sites. The supreme red and white brand became so magnetic that the company seemingly could sell just about anything by slapping the logo on it from kayaks to a pyrex measuring cup to a brick literally. You can still buy a supreme branded brick resale sites stock x. It'll set you back. One hundred and thirty dollars though according to cnbc and just for fun and unbranded brick currently cost sixty six cents. At lowe's the company also pursued its famous collapse strategy. Working in tandem with the f. Corpse vans timberland. North face to create supreme branded footwear and apparel partners included designers like gucci and louis vuitton even colgate toothpaste has a partnership with supreme for vf. The deal signals a strategic. Step forward in what it is called a transformation plan in recent years. Bef has begun. Divesting less edgy products. Like work. where it's off wrangler into its own company and is building on its prowess in athletic streetwear. Its stock price surged on the supreme announcement. Its biggest gain in more than thirty years according to bloomberg. But here's the really big question. Can supreme keep expanding by making its products. Hard to get under the umbrella of a fortune five hundred company with its eye on global growth. Bfce's the street where market is a fifty billion dollar opportunity. Supreme reportedly earned half a billion in revenues last year the f. plans to add new supreme stores around the world. The new york times asked kent supreme. Stay cool while going corporate seemingly. The answer is yes. After all one of the country's biggest private equity firms the carlyle group bought about half of supreme for five hundred million dollars in two thousand seventeen that deal prompted the same kinds of questions about authenticity but supreme continued to grow. Not everyone sees a smooth path forward. However matt powell is a senior industry advisory at retail consultancy npd group. He told the website high snow by the streetwear market is based on scarcity scarcity and growth are oppositional. Oh and one other challenge ahead for vs. It'll continue to allow supreme to do its famous collapse with partners outside the f- like for instance the f. rivals levi's and nike from the outside. That looks like letting your new spouse still collab- with other partners does it. Not and of course we all know how well that can work out in the end. Success will rest on whether the acquisition will juice revenues and profits for both partners. The f. is confident that supreme can become a billion dollar brand. If that is supreme can hang onto the cool rebellious image it's cultivated since his unassuming launch or than twenty five years ago

VF Vhf Corp Nineteen Brands North Face Vans Timberland Twenty Eleven James Jeb Jeb Cnbc LIA Colgate Toothpaste Bloomberg New York City Bfce
US airlines still piling up losses but say demand is rising

AP News Radio

00:37 sec | Last month

US airlines still piling up losses but say demand is rising

"Hi Mike Rossi reporting U. S. airlines are still piling up losses due to the downturn in air travel US airlines continue to bleed cash because of reduced travel due to the corona virus pandemic American Airlines reported Thursday a loss of two point four billion dollars in the third quarter Southwest Airlines reported it lost one point one six billion dollars the third quarter of the year is typically a strong period for air travel because it includes most of the summer vacation season added to earlier losses reported by delta and United the four largest US airlines have lost at least ten billion dollars in each of the last two quarters I might cross yeah

Mike Rossi Southwest Airlines U. S. United States Delta
OxiContin Maker To Pay Out Billions In Civil, Criminal Penalties

NPR's Business Story of the Day

05:10 min | Last month

OxiContin Maker To Pay Out Billions In Civil, Criminal Penalties

"The makers of oxycontin one of the drugs blame for sending off the OPIOID crisis will plead guilty to federal criminal charges. The Justice Department announced those charges against Purdue Pharma yesterday as part of an eight billion dollar settlement NPR addiction correspondent Brian Man is with US Brian Good Morning. Steve, how's a settlement? GonNa work. Yeah. So if it's approved by a federal bankruptcy judge, Steve The purdue Pharma will admit to the three felony charges including a charge that they misled doctors about the safety of medications like Oxycontin, over time, then the company would pay out billions of dollars in civil and criminal penalties, Jeffrey Rosen, the deputy attorney general who outlined the agreement yesterday says the sackler family would also be forced to give up control of their company. Instead of being the owners of a major pharmaceutical company, they will have no stake in that company. Now that sounds like a lot but critics are pointing to the fact that Purdue Pharma was already in big trouble facing bankruptcy struggling to hold onto employees and flooded with thousands of lawsuits tied to the improper marketing of opioids, and despite all that under this deal does federal deal the sackler walk away with most of their personal fortunes intact by some estimates there worth as much as ten billion dollars because of OPIOID prophets, they'll pay a fraction of that in penalties only about two hundred, twenty, five, million dollars out of their own pockets and Steve. There are no criminal charges against them the sackler. Admit to know personal wrongdoing. Well, how do prosecutors explain the deal would include no criminal charges and the sackler not entirely but mostly giving up a pile of liabilities rather than a penalty they would really feel. Deputy. Attorney General. Rosen was asked about this yesterday and he says these penalties go as far as the government can right now holding purdue and the sackler accountable. There is no law that says if you've done something wrong, we should just simply strip somebody of all their assets in existence that's not how it works. It has to be that we are looking at specific ex wrongdoing civilly or criminally, and then having a proportionate response but a lot of people including more than two dozen state attorneys, general dozens of members of Congress advocates for people suffering from addiction. They all say, this isn't proportionate response. They say members of the sackler family played a personal role pushing the prescription opioid boom developing these illegal and deceptive marketing practices that made purdue. Pharma. So profitable the Tissue James is New York State Attorney General, and she's suing members of the. Sackler family, her team tracked hundreds of millions of dollars in opioid prophets that the sackler sent to offshore accounts. She told. NPR. This justice department deal doesn't go nearly far enough doesn't account the hundreds of thousands of deaths of millions of addictions caused by produce farmer in the sackler family all of destruction that they have caused it basically allows billionaires to keep their billions without any accounting for how much a really made James says her state probe of the sackler family will continue. Meanwhile, there's one more detailed, the settlement that sparking. Anger, it turns out purdue. Pharma doesn't actually have enough money left to pay out the billions of dollars agreed to in this settlement. So the plan is for the government to reorganize Purdue Pharma into what's known as a public benefit company that means prophets from future sales of opioids like oxycontin would be used to pay for drug treatment and rehabilitation programs around the country Greg mcneal lives in. Ohio. One of the states hit hardest by the OPIOID epidemic and he lost his son Sam to an overdose five years ago. He. Says this idea of the government getting into the OPIOID business now after it's caused so much harm. He says it just feels wrong it. It just seems ill advised having the government entered into that business. Gosh. There's something about that. That just doesn't doesn't add up at all. And I should say Steve Twenty five state attorneys general agree they signed a letter last week they send it to Attorney General William Bar arguing that this arrangement is ethically wrong and could shelter purdue Pharma and the sackler from future criminal or civil liability Brian Kennedy at least be said for the deal that there's some money here that might help people harmed by the. OPIOID. Epidemic. That will definitely that's what the Justice Department is saying. So let's take stock for a second nearly seventy two thousand people died from overdoses last year this is still ongoing. A lot of those were opioid deaths. What US attorneys say is if this deal is finalized by the bankruptcy court, it would mean extraordinary new resources for states and cities and tribal governments struggling to keep people alive. But one thing everyone agrees to here is that this problem is so big now affecting. So many Americans they say the eight billion dollars from purdue, Pharma is really just a drop in the bucket.

Purdue Pharma Purdue Sackler Justice Department Steve NPR Jeffrey Rosen Attorney Brian Man Deputy Attorney General United States Steve Twenty Ohio Epidemic Attorney General William Bar Congress New York James
What Trump and Biden Plan for Small Businesses

WSJ What's News

04:42 min | Last month

What Trump and Biden Plan for Small Businesses

"As election day quickly approaches, we want return to our ongoing election series. We're taking a deep look at how president trump and Democratic presidential nominee joe. Biden. Differ on major policy issues. Today, we're going to focus on small business. The pandemic has been especially challenging for them. Thousands of firms have already been forced to close joining us now for a look. At. What the candidates say they will do is Journal, Economics reporter Amira Imo Kway High Mira Hi thanks for having me. So both candidates acknowledged some strength with the paycheck protection program. But there are some distinct differences as far as involvement and approach. Let's first start with President Trump yes. So the main thing president trump has done is he's encouraged Congress to. Come together with the administration and reopen the paycheck protection program that program expired in August and so small businesses have not been able to apply for it since then so president trump has signaled his support for reopening the paycheck protection program with about one hundred, thirty, five, billion dollars in funding that was roughly the amount in unused funds that was left when. The program closed and what about Joe? Biden's view. So former Vice President Biden has really emphasized what his campaign characterizes as shortcomings in the paycheck protection program and his platform calls for overhauling the program and doing things like including more oversight of the program and also a provision that would make it so that businesses with fifty employees or fewer would be guaranteed. Funding through the program if they are eligible for it, and some of the experts I spoke with said that that provision would be really important because when the paycheck protection program I opened a lot of businesses were initially unable to access the funds because the first round of funding quickly ran out small businesses whether they are in a pandemic or not. Always. Face challenges when particular difficulty can be getting assistance even though there are programs available. What is Joe Biden? Vision as far as accessibility is concerned so Joe Biden's platform proposes something that his campaign calls the Small Business Opportunity Fund. So this is a fun that would receive thirty billion dollars in federal funding initially, and it would make investments it do things like. Direct. Ten billion dollars to state and local programs that provide the sort of venture capital that businesses need to start and businesses need to grow and the trump. The trump platform on this trump platform or pitch has really been sort of highlighting things that have been popular during his first term. So for instance, he has talked about tax cuts and his administration. Implemented a tax deduction that lowers income tax bills for many small businesses. His campaign has also focused on sort of the regulatory approach that the trump administration has taken and some small business advocates say that that deregulatory approach has really helped small businesses given them less burdensome regulations to work with and basically taking away some uncertainty and that has has benefited them. Within small businesses I WANNA. Focus on minority owned small businesses. This election is happening as the nation has an ongoing conversation about racial equality. What is the White House of you as far as specifically helping minority owned small businesses. Well what's really interesting is that this area is one where the trump campaign in the binding campaigns actually a common ground I think both campaigns have acknowledged that for instance, there are concerns that minority owned small businesses had trouble accessing the paycheck protection program or that minorities tend to have more hurdles to overcome when they want to start businesses because minority households tend to have less access to. The kind of wealth that they used to finance small startups, and so the trump campaign has proposed what it's calling its platinum plan for Black America and in that plan the the campaign is proposing, for instance, giving more funding to these kinds of lenders called Community Development Financial Institutions. These are financial institutions that focus on lending and other financing to minority communities, rural communities, and other underserved communities. And some specifics of Abidin plan. So Mr Biden proposes using that Small Business Opportunity Fund that we talked about earlier to, for instance, expand lending through state local and other programs that have had a successful track record of providing lending to minority owned businesses, and his plan also calls for expanding lending through those community development financial institutions that we talked about.

Joe Biden President Trump Small Business Opportunity Fun Community Development Financia Vice President Amira Imo Abidin Reporter Black America White House
Amazon Moves Prime Day, Starting the Holiday Shopping Season Early

Business Wars Daily

04:43 min | Last month

Amazon Moves Prime Day, Starting the Holiday Shopping Season Early

"Amazon. Is remaking the retail calendar again. Yes. Again, this year Amazon Prime Day will be held on October thirteenth and fourteenth about three months later than it standard July date prime day. In case somehow you didn't know is Amazon's biggest sales event of the year a much hyped discount bonanza for Amazon prime members as soon as Amazon finally announced its rescheduled date target followed suit not surprisingly target will hold its. Own. Deal days at exactly the same time. Walmart followed shortly after it will hold a gigantic sale for the entire week. Many many other sheep retailers are sure to follow because Amazon Prime Day, which by the way is only five years. Old Is an insanely successful manufactured holiday when Amazon held its first Prime Day in July two thousand fifteen other retailers scoffed the idea July typically more of an for retail sales. Why would any retailer waste time and money trying to get consumers to change entrenched behavior? Well clearly the skeptics were wrong. Lee. Peterson is an analyst with retail consultancy wd partners in Columbus. Ohio as Peterson recounts the history of Prime Day in its first year, the world sat back and did nothing but watch and as they did Amazon stunned everyone in the three and a half trillion dollar industry by going absolutely bananas he told us the numbers were other worldly flat out shocking. But for everyone else it was July he said, well, other retailers could hardly sit back and let that happen again at least not without a fight as Peterson says, it's a necessity borne out of the fire of retail combat, but he adds maybe the right word is retail slaughter. So a few years ago target Walmart and others launched their own massive July sales. It had taken almost no time for Amazon, to turn the dead retail days of July into something, very, very different for the retail world. July effectively became the new back to school launch a month earlier than it had always happened and boy has it been a winner for Amazon. Last year was its biggest ever Amazon doesn't release earnings for Prime Day, but the company claims prime members bought one hundred, seventy, five, million items more than twenty eight teams, Black Friday, and cyber Monday combined as they did this year target and Walmart let Amazon lead scheduled their events to surround prime day whenever Amazon wanted it. July past sleepily this year for obvious pandemic reasons. Now, with the announcement of a mid October Prime Day, the calendar is once again shifting perhaps permanently analysts say the event effectively kicks off the holiday shopping season that used to be marked by Black Friday. Remember the frenzy shopping event that follows thanksgiving, but covert is causing an enormous shift in consumer behavior according to market research firm Alex partners. About half of all shoppers plan to start holiday shopping by Halloween at were earlier this year in effect that firm says the traditional definition of the November December holiday shopping season is now meaningless. What all this means for consumers of course, is a confusing and pledge of deals expect an overwhelming number of ads from all corners, hawking products and categories that have soared because the pandemic at leisure loungewear. Outdoor gear electronic streaming and music subscriptions and homegoods. Of course, anything that entertains US and makes us more comfortable at home. Amazon. Specifically is expected to offer discounts on many of its own products like Echo smart speakers and Amazon music and audible subscriptions. Some of those discounts are already available but also be on the lookout for deals on instagram pots, remote vacuum cleaners, apparel, and TV's to compete. Target is pushing discounts on similar categories of products and also at stellar same day service, which the company has excelled at scaling this year as it has for the last couple of years, target is also pushing the message that customers don't have to be members in order to get steals. It costs about one hundred, twenty dollars a year for prime membership, but that surprise million seem happy to pay. This year Amazon prime is expected to exceed one, hundred, forty million members for the first time more than half of all Americans according to research firm Emarketer. The firm also predicts that Amazon. Will generate a record ten billion dollars in sales on prime day up from an estimated seven billion dollars last year. So we'll target and Walmart do well with their prime day look-alikes. Undoubtedly, they will like Amazon they've grown considerably during the pandemic online sales especially of jumped. But can they truly compete with Amazon Kind of says, Lee Peterson. If Prime Day was a one hundred meter dash, she says Amazon will reach first place in record time about twenty yards later, there'll be second-place success. That bad still.

Amazon Walmart Lee Peterson Target Analyst Amazon. Homegoods Ohio United States Columbus Hawking Alex Partners Emarketer
Airline furloughs begin as federal pandemic relief expires

AP News Radio

00:40 sec | 2 months ago

Airline furloughs begin as federal pandemic relief expires

"Furloughs have started at major airlines federal pandemic relief is run out more than thirty two thousand airline employees got furlough notices American and United Airlines say they could reverse the furloughs if there is quick agreement in Congress to help the embattled airline industry the White House proposal includes twenty billion dollars for airlines the money would be used to keep workers on the payroll for six more months through next March the four big airlines have lost more than ten billion dollars since the start of the pandemic the payroll is already been shrinking but they still have more people than they need because air travel is down nearly seventy percent from a year ago I'm a Donahue

United Airlines Congress Donahue White House
What if lifesaving prescriptions were affordable for all

TED Talks Daily

05:01 min | 2 months ago

What if lifesaving prescriptions were affordable for all

"Hi Hugh Ted Talks Daily today a super cool idea to ensure people have access to the medicines they need to survive and thrive Kia Williams the founder of the nonprofit serum saw both a problem and a solution that exists in the pharmaceutical space and her idea link. The two together should explain in her talk from Ted Twenty twenty. Every day in this country families are forced to make impossible choices when it comes to their healthcare. Like Kimberly who said? There is time I to choose between my food and my pills. It wasn't luxury stuff because I didn't make that much. It was like, can I get shampoo or conditioner? Things you take for granted and Debbie. Who Said you put your medicine in one hand your living costs in the other. Okay. Well, what am I going to do? Am I GONNA get my medicine or am I gonNA pay my bills? Will. I can't live without my medicine but I can't live if I don't pay my bills ten thousand people die every month in this country because they don't take the medicine that they need. More people die from not taking medications than. Overdoses and car accidents combined. But you can't take medicine if you can't afford it. Today the average household spends three thousand dollars a year on medications about a third of folks who are uninsured said that they stopped taking medicine as prescribed because of cost even folks with insurance. If they make under thirty, five, thousand dollars a year half of them report skipping the medications if their insurance doesn't cover it. So there are. Million adults like Kimberly in like Debbie who are forced to make impossible choices every day. We all know that prescription drug prices are too high. In our healthcare system that makes some folks uninsured and other folks underinsured doesn't prioritize people who need access now and need medications. Now, ten million, it's a big number, but it's also a solvable number because there's also ten billion dollars of perfectly good unused medication that goes to waste. So this is an injustice onto sides people not getting the medicine that they need to survive and to thrive. In, that very same medication being sent to a medical waste incinerator to be destroyed this waste is unconscionable, but it also offers an opportunity I started serum a not for profit technology company with my co founders Adam and George. To turn discarded medications into a lifeline, we may not be able to fix all the ways in which our healthcare system is failing us, but we can fix this one. Medications come from manufacturers wholesalers who have safety stock, and when it's short dated, they destroy it. It also comes from healthcare facilities like fiddles pharmacies in nursing homes who end up with surplus when a patient stops taking medication or when they pass away. We can use this untapped source of medications to supply all ten million people who need medications, and we can do this today. Serum get surplus medications by putting recycling bins into the hundreds of facilities that have surplus they fill the been and when the boxes full serum initiates a courier pickup to pick up that medication in we handle the shipping the tracking the manifests in the tax receipt medicine donors want to donate because it's actually cheaper and easier than the highly regulated medicine destruction process. And they're strong tax incentives to actually donate. We then deliver those donated medications to people who needed a new prescription comes in in our platform matches that patient need with the inventory that's available. Our platform then generates a warehouse pick lists. The medications are picked in the prescription spills. We are building the twenty-first-century pharmacy experience that low income families deserve patients can register in under five minutes and have access to over five hundred different medications A. Stable list of medications for everything from heart disease to mental health conditions

Ted Twenty Twenty Kimberly Debbie Hugh Ted Kia Williams Overdoses Founder Adam George
Seineld and Schumer push bill to fund arts venues

AP News Radio

00:44 sec | 2 months ago

Seineld and Schumer push bill to fund arts venues

"Comedian Jerry Seinfeld took to the stage at a New York comedy club Sunday but it wasn't performing instead he was making a plea for coronavirus funding for live venues Seinfeld is with senator Chuck Schumer to push the bipartisan save our stages act which would aid music art and comedy clubs like Gotham where they were the business it is thus far of our culture sure says the ten billion dollar bill would give venues grants of up to twelve million dollars each to help them stay open if they don't get help most of them three quarters of the world all under his as the bill would be part of a larger coronavirus spending package with funding for cities and states which Schumer predicts has a fifty fifty chance of passing before the election Julie Walker New York

Jerry Seinfeld Senator Chuck Schumer Gotham New York Julie Walker
Seineld and Schumer push bill to fund arts venues

AP News Radio

00:44 sec | 2 months ago

Seineld and Schumer push bill to fund arts venues

"Comedian Jerry Seinfeld took to the stage at a New York comedy club Sunday but it wasn't performing instead he was making a plea for coronavirus funding for live venues Seinfeld is with senator Chuck Schumer to push the bipartisan save our stages act which would aid music art and comedy clubs like Gotham where they were the business it is thus far of our culture sure says the ten billion dollar bill would give venues grants of up to twelve million dollars each to help them stay open if they don't get help most of them three quarters of the world all under his as the bill would be part of a larger coronavirus spending package with funding for cities and states which Schumer predicts has a fifty fifty chance of passing before the election Julie Walker New York

Jerry Seinfeld Senator Chuck Schumer Gotham New York Julie Walker
Seineld and Schumer push bill to fund arts venues

AP News Radio

00:44 sec | 2 months ago

Seineld and Schumer push bill to fund arts venues

"Comedian Jerry Seinfeld took to the stage at a New York comedy club Sunday but it wasn't performing instead he was making a plea for coronavirus funding for live venues Seinfeld is with senator Chuck Schumer to push the bipartisan save our stages act which would aid music art and comedy clubs like Gotham where they were the business it is thus far of our culture sure says the ten billion dollar bill would give venues grants of up to twelve million dollars each to help them stay open if they don't get help most of them three quarters of the world all under his as the bill would be part of a larger coronavirus spending package with funding for cities and states which Schumer predicts has a fifty fifty chance of passing before the election Julie Walker New York

Jerry Seinfeld Senator Chuck Schumer Gotham New York Julie Walker
Do You Have The 411 On 9/11? -  It Was A Dystopian Nightmare

Talk, Tales and Trivia

04:59 min | 2 months ago

Do You Have The 411 On 9/11? - It Was A Dystopian Nightmare

"Hello. This is Stephanie and this is Talk Tales and Trivia the show where I talk about enlightening topics about society culture and the topics that affect the world we live in plus some trivia so that you yes, you can stump your family and friends is so interesting and fun. But this topic today this topic right now on this episode is not so much fun because we are coming up upon an anniversary that really truly some Americans wish had never happened and that is the September eleven attacks. This at timber eleven, attacks often referred to as nine eleven. Remember were a series of four coordinated terrorist attacks by the Islamic terrorist group. al-Qaeda? Against the United States on the morning of Tuesday September eleventh two, thousand and one some of you weren't even born but yet it affects all of us to this day. No matter how old we are the attacks resulted in two, thousand, nine, hundred and seventy, seven deaths over twenty, five, thousand injuries and substantial long term health consequences in addition to at least ten billion dollars in infrastructure and property damage. But did you know that nine eleven is the single deadliest terrorist attack and human history and the single deadliest incident for firefighters and law enforcement officers in the history of the United States with three hundred and forty-three firefighters losing their lives and seventy two law enforcement officers losing their lives. Speaking for al Qaeda leader Osama Bin. Laden had said that quote it has become clear that the West and general and America in particular have an unspeakable hatred for Islam. It is the hatred of Crusaders terrorism against America deserves to be praised because it was a response to injustice aimed at forcing America to stop its support for Israel which kills. In. Quote. Even, though that was somewhat an admission of guilt by Osama bin Laden. He stopped short of admitting responsibility for the attacks but. Eventually, he did admit to the attacks. Yes. Shortly before the US presidential election and two thousand and four bin Laden used a taped statement to publicly acknowledge al Qaeda's involvement and the attacks on the United States he admitted his direct links to the attacks and said they were carried out because we are free. And want to regain freedom for our nation. As you undermine our security, we undermine yours bin Laden said, he had personally directed his followers to attack the world trade centers and the Pentagon. The impact of nine eleven extends beyond geopolitics though and into society and culture and. Immediate responses to nine eleven did include greater focus on home life and time spent with family. It really did hire church attendance and increased expressions of patriotism such as flying of the American flag. In the immediate aftermath of the attacks President George W Bush proclaimed Friday September, fourteenth two, thousand, and one as a national day of prayer and remembrance for the victims of the terrorist attacks on September eleventh Patriot Day officially known as National Day of service and remembrance is observed every September eleventh in honor of the individuals who lost their lives as a result of the terrorist attacks on that day Patriot's Day will be on Friday this Friday September, Eleventh Twenty Twenty also I find on Kapadia on the search of Patriots Day. The flag of the United States is flown at half-mast at the White House and on all US government buildings and establishments throughout the world Americans are also encouraged to display flags in an outside their homes as many many due to this day. Remember that Patriot Day is not a federal holiday though okay. Schools and businesses remained open and observance of the occasion and that we will never forget and that America will not be stopped or halted even for one day memorial ceremonies for the two, thousand, nine, hundred, and seventy, seven victims. Are often held, but that does not include a matter of fact at excludes the nineteen hijackers who also perished we do not memorialize them.

Osama Bin Laden America United States Eleventh Twenty Twenty Stephanie Al-Qaeda Crusaders White House President George W Bush Pentagon Israel Kapadia
Microsoft plans cloud push with foreign governments

CNBC's Fast Money

03:21 min | 3 months ago

Microsoft plans cloud push with foreign governments

"Do have some news here on Microsoft's CNBC's Jordan novick report that Microsoft is signing deals with foreign governments to offer cloud packages. This would be sort of like the bundle. Remember it simple for the dod the Pentagon remember there's that Djeddai contract with up to ten billion dollars over ten years that's being contested by Amazon Microsoft. Already has relationships with foreign governments. We don't know which ones yet here this could evolve joins understanding is this is going to be formally announced later this year, of course, we know in that cloud infrastructure intrastructure market Amazon. Go head to head in two thousand, nine, hundred Amazon control about fifty percent of that market and Microsoft and told about fifteen percent of it. Microsoft shares no ticket high here in the after hours Brian Back to you. Right up one point, four percent just thank you very much. All right. By the way for more than Microsoft's cloud feelings, you can head over to CBC Dot Com read more about that story that Joshua's talked about from our crack team. They're more yet another stock not as not not as superlative as apple, but certainly has been a monster of a moneymaker. Well. If you look at a five year charter Microsoft. Better chart so. The turnaround there that started a few years ago under such Adela has been all about the cloud has been all about enterprise like Microsoft teams is going to be taking market share. There's there's a major argument that you. You'd be buying that selling zoom as you look to to even just where I think some of the big tech giants will probably push around companies like zoom. So Microsoft is is as far as I'm concerned. They are the other company to be talking about in in this world of of Mega Cap Tech. This is the multiple that is you know depending on what you think you should be paying. Thirty two to thirty five times is that cheap? Well, they are taking market share in the cloud. There's no question that they are beginning to to really dominate but as your. Gaming is a billion dollar business and Microsoft clearly is is navigated the the regulatory environment. The irony is, of course you know. Back, in one, thousand, nine, hundred, Ninety, eight, they were the ones that really started this. I think this focus on big cap tech and they're the ones that seem to be navigating best right now. Care Certainly. So be cared quickly go back to you talked about Apple Peter Lynch model like I love my phone. So I'm GonNa Buy Apple you don't hear a lot of people say man I really love that outlook. Oh, I couldn't live without excel. Zoom player I'm kidding on that one there an enterprise everybody deserve. The same kind of a French in that a consumer is going to or maybe more. Well, I. Think your point's well taken that in this environment where a lot is driven by narrative and. Just getting that attention of the so-called robinhood traders Microsoft isn't necessarily that exciting, right but look at the business that had has it's got great contracts coming up in contrast to Amazon. It appears that it's got kind of the tap on the shoulder from the government to go out there and get these contracts. I mean the government talked about them buying TIKTOK. That's a that's an acknowledgement that Microsoft has got a bit of a regulatory governmental tailwind to it. I agree ten listen it's it's over maybe it's over valued it. It was my pick few weeks ago when I did the fast pitch or whatever that thing is we did and I one and I'm still riding high from that and I would still apply Microsoft.

Microsoft Amazon Apple Pentagon Jordan Novick Brian Back Adela Cnbc Peter Lynch CBC Joshua
Senate Republicans preparing $500B virus relief proposal

AP News Radio

00:41 sec | 3 months ago

Senate Republicans preparing $500B virus relief proposal

"I might cross the reporting Senate Republicans are working on their own virus relief plan with no agreement yet on a larger corona virus relief bill Senate Republicans are putting together a five hundred billion dollar proposal according to senator Roy blunt of Missouri the GOP plan would provide three hundred dollars in weekly federal payments for unemployed people over and above state payments that would be half of what was provided in a pandemic relief bill approved earlier this year that expired at the end of July Senate GOP aides say the plan would also include ten billion dollars for the postal service sixteen billion dollars for virus testing and a twenty nine billion dollars for developing vaccines might cross yet Washington

Senator Roy Blunt Missouri Washington Senate GOP
Why Pros Can't Beat the Market, but You Can by Chris Reining

Optimal Finance Daily

04:54 min | 3 months ago

Why Pros Can't Beat the Market, but You Can by Chris Reining

"Why pros can't beat the market, but you can buy Chris rining of Chris. rining. Dot Com. A small part of my investment portfolio is an index fund tracking the market, and apparently I'm not alone over the past few years. Trillions of dollars have flowed into index funds as people realize highly paid professional money managers seldom beat the market. Bill. Man after spending eight years running active funds explained why that's a difficult task. Quote Fund, managers are under pressure to be predictable by showing low tracking error, which essentially means funds have to try to beat their benchmarks while tracking their benchmarks closely. Does that remotely make sense? End Quote? To say that another way fund managers become closet indexes. For instance, if they say they're benchmark is the S. and P. Five hundred they need to assemble a portfolio of stocks that closely resembles the S. and P. Five hundred because if they're fund underperforms its benchmark investors pull their money out. And that's the game fund managers are playing to attract and keep the most money because fees are percentage based the fund with ten billion dollars under management rakes in more than the three billion dollar one. But. Here's what took me years to realize saying that professional money managers can't beat the market has. Nothing to do with what you can or can't do please listen to that again. Here's why small-time investors like you and me have an enormous advantage over any professional. One you're a speedboat there a battleship. You're investing small amounts of money, not many hundreds of millions or billions. What do you think happens when a fund manager finds an underpriced stock and starts buying millions worth it causes the price to go up and there goes the advantage. To No one's looking over your shoulder. Fund managers have bosses breathing down their neck making sure they're tracking their benchmarked prevent withdrawals. It's the old nobody ever got fired for investing in IBM, or now Apple Syndrome. It's very hard to get market beating results when you're forced to invest conventionally. Three you didn't study investing. The SMART, people with Mba's who study modern portfolio theory and understand those squiggly lines on technical charts have been conditioned to believe investing can be broken down into some science like engineering or physics. So neat and tidy. nope. It can't markets involve messy people. Anyone can pick stocks trying to beat the market that doesn't mean everyone should stocks take a certain set that outlined before in my blog and it helps to have help which is why I use Motley fool stock advisor. Speaking of them, there's no question there. Stock Picking Methods beats the market because they're picking better than average docs from their website as of today five return up sixty percent S. and P. Five, hundred up thirty seven, percent seventeen year return up three hundred, eighty, two percent S&P Five, hundred up ninety, one percent over the past five years they've eaten the market by twenty, three percent. And so if you're interested in picking stocks, it might be as simple as buying and holding their latest recommendations for years to come sure you'll get some picks wrong and that's okay. The idea is your winners will more than make up for the losers and I know because I've picked some duds but my returns still beat the market. This is similar to how Jeff bezos thanks. Quote we've made doozy's like the fire phone and many other things that just didn't work out. We don't have enough time to list all of our field experiments, but the big winners pay for thousands of field experiments and quote. anyways, one of the most phenomenal small-time investors I know is Saul. Rosenthal. He's been compounding money at thirty percent or so for thirty some years but also works harder at it than anyone. He currently owns nine stocks only his very best ideas and always thinks deeply about them trying to find his blind spots. You might think having your life savings in nine stocks is nuts but I've learned it's better to have a small portfolio where you know a lot about a few companies than some gigantic portfolio were you know little about lots? I've trimmed my portfolio to fifteen stocks and at index fund it feels good of course, running a concentrated portfolio like that takes more work when all your eggs are in one basket, you watch that basket. But if you find the work enjoyable like it's a game for you, the results can be life changing. Does all this make sense I bet you'll always hear things like if professional money managers can't beat the market with their huge budgets and computing resources then neither can you Again just because they can't beat the market has absolutely nothing to do with what you can or can't do value investor monae per Bri. said it best quote investing is a peculiar business. The larger one gets the worst one is likely to do. So this is a field where the individual investor has a huge leg up on the professionals and large investors and quote.

Fund Manager Saul Chris Rining Jeff Bezos MBA IBM Advisor Bri. Rosenthal
Buy now, save later: financing vaccine candidates

The Economist: The Intelligence

08:31 min | 3 months ago

Buy now, save later: financing vaccine candidates

"Up dumb. Right. Now, more than one hundred, seventy vaccines for covid nineteen or being developed across the world. Of, those six are in final large scale clinical trials. While the races on policy policymakers are. With two questions how much to spend on vaccines that may or may not win and how to ensure the winner or winners are distributed fairly, you cannot be no world where some people are saved another. Anglesey conjure a whaler is the chair of the Global Alliance for vaccines and aviation or Gabby. It's an alliance that funds vaccines for poor countries the steps that need to be taken to ensure vaccines that distributed fairly Require. Collaboration and solidarity of the world governing has set up what's called Kovacs purchasing pool for several late stage vaccine candidates is that facility it has ninety two developing countries in it low and middle income countries, and it also has seventy seven rich countries that have expressed interest by bringing them all together we will have an affordable price of vaccines for all. We have risk sharing in the facility for all, and this will ensure that so many more people in the world who would not have had access will have access so to. Be Equitable I need to be fair but equitable fair division is just one problem I for needs to be enough given vaccine to divide up governments around the world have invested so far at least ten billion dollars on Covid nineteen vaccines they have made forward purchases of about four billion doses so far more companies have essentially already started making some vaccines even before they have been proven to work Slovakia chunk of his or healthcare correspondent the contracts governments have cut with Pharma companies are for about four billion dollars of various vaccines. Now that may look like a lot when my think it's enough to cover most of the world, but it's actually nowhere near enough. Why not to begin with of these vaccines may turn out to be ineffective when the clinical trials are all done. A typical vaccine at this stage has about the twenty percent chance of payer, and some of these vaccines also use novell technologies that haven't been used in any other approved vaccine before. So the risk of failure could be even higher. The biggest issue is that manufacturing capacity globally is limited and there would be shortages, the files and the ingredients that are used in vaccines once manufacturing begins on a large. So I'm experts think that the feasible amount of covid nineteen vaccine the will have by the end of next year is just about two billion dollars. In some vaccines actually are likely to require of course of dolls to work. So we're talking about nowhere near enough to cover even a minority, the world's population. So how much would be enough? How many those should countries be buying up at this stage? Just think that given the current mix of Seo game to the there is a ninety percent chance that there will be. Actually works. Now. One of I've seen is proven to be effective billions of dollars will, of course, need to be distributed very quickly, but it's impossible to know in advance which candidate will succeed. And setting up manufacturing lines takes time a new vaccine factory can take anywhere to three years to get up and running. So government should actually help pharmaceutical companies to produce vast quantities, a range of different vaccines, and ideally economists think Thaksin's numbering in the tens of billions of dollars long before regulatory provides transit but if everybody makes all of the at the same time, there will be. Some some losers right a lot will come to be wasted that way. Yes. Of course absolutely, and that's actually the hard part for politicians because this idea of deliberately overproducing something does not sit easily with politicians or voters indeed bud you have to think about the economic costs even boosting vaccine funding ten times to about the hundred billion or more, which is what many economists are advocating for. Pales in comparison with the seven trillion dollars which governments across the world have spent or pledge to preserve income and jobs that are being lost as a result of the pandemic. So in other words, if we just think of economic output alone a took make sense for the world to spend as much as two hundred, billion on bringing forward ineffective Covid nineteen vaccine. Just fun week to the way things are headed. It seems inevitable that there will be a shortage of supplies. How will they be distributed? Once a good candidate is found i. mean we we saw when the pandemic began this rush for personal protective equipment was not a pretty scene. Right experience was quite telling by the end of April. There were probably around eighty countries that had banned or restricted exports. Youth defend America especially things like medical masks, thermometers, disinfect thens. And even if we look at pandemics the during the swine flu pandemic and you thousand nine rich countries, basically corner the global supplies of the vaccine and they offer some of it to developing countries only after they had more than asked to cover their own citizens and by then if endemic was over. So, what we really seeing now as many commentators are calling vaccine nationalism rich countries are reserving most of the potential global supply of covid nineteen vaccines. And additions countries where these vaccines can be made have the manufacturing capacities are very likely to put their own people first. So what's being done to try to mitigate that global scramble. There are several mechanisms that have been put together for countries to join forces and agree to a more equitable distribution also may end. Make much faster. So the World Health Organization has grown up guidelines of how that might look quite and according to these guidelines. The first supplies of covid nineteen vaccines should call to healthcare workers and social. Care Workers First. Then, the next batch should go to the fifteen or twenty percent of people in each country who are most vulnerable, most likely to from covid nineteen if they're infected. And then laces that are at the highest risk of outbreaks will we prioritized now whether these guidelines will be followed is a different story. It's unclear how many countries will sign up may have expressed interest, but nothing has been signed so far. So all told, what's your prognosis at this stage? Do you think the world will produce enough quantities of candidate vaccines and that they will be distributed in a way? That's even a little bit fair. Just likely that there won't be not vaccine to go around in the first year. Whether it will be distributed equitably depends on where the winning vaccine is made. If the vaccine is part of the portfolio, which is controlled by the global coalition backed up by the World Health Organization than we will see supply being distributed marsh equitably on the other hand if the vaccine turns out to be made in a country that doesn't want to share, it supplies before covering its own citizens. And it's a big country. We won't expect most of the world be covered equitably for a time. Now the solution perhaps is just to spend. More money on the current candidate vaccines, the Waza rating late stage clinical trials. Set of manufacturing, start making them in large quantities that will ensure that there is more to go around with trevor. Vaccine turns out successful. Thanks very much for joining us. Thank you. Jason.

World Health Organization Covid Global Alliance Slovakia Novell Kovacs Trevor America Jason Thaksin
Deep Dive on Dave Ramsey's Investment Advice! (Financial Advisors React)

The Money Guy Show

05:49 min | 4 months ago

Deep Dive on Dave Ramsey's Investment Advice! (Financial Advisors React)

"Yeah Brian. So this what is going to be kind of interesting? We sort of asked the audience out there. Hey, you know we've talked about Dave's investment advice in the past. Would you be interested if we did a bit of a deeper dive? What are some things that are good where some things that maybe aren't so good what's our take on it and there? Was a resounding yes. From the audits that they wanted to hear it. So here we are to share our thoughts I feel like we need to lay out some ground rules though I mean we do live in Franklin Tennessee and we're kind of in the backyard of the big dog himself Dave Ramsey, and here's the thing you can't live in our parts and not have. Neighbors, people you go to church with you know there's a lot of you know of Ramsey solutions that are all in the community, and by the way if you were here thinking you see a show were Ramsey solutions are Dave Ramsey is trashed. You're in the wrong place. We have tremendous respect for Dave and I think if you even as we poke holes in some things that I think Dave is going to astray on and you can improve upon there is no doubt that Dave has done more good to the financial world than anything else if we just wanted to kind of look at some of this quick accomplishments, he has over fourteen million listeners to his weekly radio show he sold over eleven million bucks. He has this says, this is from the website over eight hundred team members I know that just because some friends whether it's like nine hundred and fifty employees think about like how many lives is impact in this? Is just absolutely remarkable more than five million folks have gone through financial peace. University. So if you do this exercise awhile backbone I can't remember you saw speaker somebody in you named out some big brands you'd come up with one word to describe them, and so if you throw out Ramsey solutions, what's the one word that that comes up in my mind? It's debt. Think Dave there is nobody that gets you out of debt better than Dave Ramsey. So what I'm trying to figure out those we know Dave, does so much good with getting people out of debt he talks about the eighty percent that's behavior that yet twenty percent that's in your head. What does that mean towards investments because is, is there space to know that there may be some additional things that you ought to consider? Yeah. So one of the things that I think is amazing I will have a family members or relatives who I tell them all the time about, hey, here are the things that you want to do to like get a credit card debt or pay this off in no matter what. I say how communicate somehow it doesn't doesn't sit with them but in all of the sudden church offers like financial peace university, go through it and they come tell me how you will believe what I just learn their own far for the concept. I've been telling you this for like months and years but what ends up happening is they kind of get through that interational and they do say okay now I'm ready to. Start Building Wealth, and this is what Dave said about investing, and that's where I always have to kind of say. Oh, well, maybe that's not exactly perfect. So let's I. Want to go a little deeper because Dave does talk about the eighty percent. This behavior twenty percents head space will there's also I think it goes beyond that is that we know that the lion's share of Americans struggle with basic things what I consider. Commonsense of they can't get out of debt. They don't have the disciplined understand it, and we've often said there is and you just mentioned it. There will come a graduation or a jump off point where you need to go beyond common. That's right. So I, think that's where we fit in. We are not the eighty percent or the portion of the public that struggles with basic behavioral stuff we know that our audience are maximized. Money Masters we know that if this doesn't hit you, it's just you're not there yet we are focusing on the twenty percent that wants to make sure every dollar in your army of dollars has a purpose and knows what they're doing and you WANNA maximize it. So that's what we're going to focus on, and that's what we're going to look at it through that lens to see how does Dave's investment strategies? How do they fit in what we know is financial advisers about wealth creation. So if we're GONNA talk about areas where possible he misses it a pasta hits at one of the questions you might be asking what is Dave Ramsey's investment advice so we actually went. Out to Ramsey solutions and I think this is on Chris Hogan's website, and he basically lays out how to diversify your portfolio. If you're structuring investment portfolio, Dave likes using mutual funds, he likes using active mutual funds and he thinks that an investment strategy should look something like this twenty, five percent and international twenty, five percent growth and income twenty five percent aggressive growth in twenty-five percent and growth that certainly sounds easy. Doesn't sound like that's a hard thing to put together. Well, it sounds very broad and it sounds very growth oriented but I do like I think this is something that got fine tuned Chris came in as part of Ramsey solutions is he goes a step further. Tells you what are those broad descriptions like aggressive growth growth and income? Is there a large cap mid category international? So what's what's the deeper dive on that? So if you look at the details growth and income, these are the big companies is the ones that have a market cap of ten billion. Well, if you were to ask us the money got show rebound wealth what that is that's really large-cap. Holdings large cap US companies well, then they said there's this growth asset class naturally tends to be companies that are somewhere between two billion to ten billion dollars. Well, we would just call those mid sized or mid cap companies, and then there's this aggressive growth high risk high returns. These are companies that are smaller they're less than two billion. So we just call that small-cap now, all three of these are us. US large cap us mid cap small cap, and then lastly there's this international bucket companies that are outside of the United

Dave Ramsey Ramsey Solutions Chris Hogan United States Brian Franklin Tennessee
Sen. Bernie Sanders calls for tax on billionaires' gains during the pandemic

Squawk Pod

02:38 min | 4 months ago

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

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

Senator Bernie Sanders Federal Reserve Amazon Senator Mark Zuckerberg Elon Musk Walmart Jeff Bezos Tesla Facebook Walton Family
Sandworm: A New Era of Cyberwar and the Hunt for the Kremlin's Most Dangerous Hackers

The Vergecast

46:42 min | 4 months ago

Sandworm: A New Era of Cyberwar and the Hunt for the Kremlin's Most Dangerous Hackers

"Everybody from the British. Ask this week's interview. Episode has any Greenberg senior writer at wired. He just SORTA book called Sand Worm New Era of cyber war in the hunt for the Kremlin's Miss, dangerous hackers, it is all about hacking group inside of the Russian government called San Worm. They were responsible for the most damaging cyber warfare attacks over the past year there behind not PECI. The hackers took out in the mayor shipping line hospitals across the U. K San has totally escalated. What we think of Cyber War, and he's book gets all into how they were discovered how they were flushed out the. The intricacies of these various hacks. It's super interesting. The book is a thrill ride. If you're looking for something that isn't the virus. This is like a thriller, a highly recommended. It was really fun to talk to her about the stuff. one thing I. WanNa know we're all at home so during this in every might hear some kids in the background. I asked you just be a little forgiving that we're all. We're all dealing with it and he was a great interview. Check Out Sandy Greenberg of sand worm, a new era of cyber war and the hunt for the Kremlin's most dangerous hack. Any Greenberg your senior writer at wired you're also the author of Sand Worm, new era of cyber war in the hunt for the Kremlin's most dangerous. Welcome glad to be here so even writing about cybersecurity frontier I think you just said two thousand six and writing about Cybersecurity, but this book sand worm as I was reading it. It seems like it's called the new era of cyber war. It seems like there's been a huge turn in sort of state-sponsored. Particularly Russians sponsored cyber attacks. How did you come onto that notion? How did you begin reading this book I'm I'm very curious how you see. See that turn happening well. In late twenty sixteen, my former colleague Kim Zetter she had been the one who really covered state sponsored hacking in cyber war stuff, but she left wired, and this was also at the time. When you know Russian hackers were meddling in the US election, they'd hacked the democratic. National Committee and the Democratic Congressional Campaign Committee and the Clinton Campaign, so my editors were really primes on face, mantra hacking all of a sudden, but what they? They really what they told me they wanted was a actually like a big takeover of the whole magazine. All about cyber war, but cyber war to me is different than those kinds of espionage election, meddling tactics so I went looking for no real cyber war story, which means to me like a actual disruptive cyber attacks, and as I looked around. It seemed like the place where that was really happening was in Ukraine not really in the US in fact maybe. Maybe what was happening in? Ukraine seemed to me like it was in some ways, the only real full blown cyber war that was actually occurring where Russian hackers were not just attacking the election which they had done, they tried this spoof the results of a presidential election, but they had also attacks media and destroyed their computers. They had attacked government agencies and tried to like destroy entire networks, and then they had turned off the power for the first time. In December of two thousand, fifteen, the the first actual blackout triggered by hackers, and just as I was look into this happened again the the effect, the seem hacker group caused a blackout this time in the capital of Kiev so I wince looking in Ukraine for this cyber war story that. Turned into a cover story for wired that kind of gave editors what they wanted, but then also kept unfolding This cyber war kept growing in scope and scale and. The original story written for wired was kind of about the fact that you could look to Ukraine to see the future of cyber war that will what was happening. There might soon spread to the rest of the world. And that is actually what happens to like just after we publish that cover story to same hackers released this climactic terrible cyber attack in Ukraine. Called Not Petiot that spread beyond Ukrainians became the worst cyberattack history cost ten billion dollars, so when that happened, that was when I saw that there was potential to do a book about this that it was not just a kind of case study about Ukraine or even kind of predictive story, but a an actual full story arc about this one group that had carried out the what I would say was not only the first. First Real Cyber War, but the worst cyberattack in history and the you know I wanted to capture the the Ark of that story in the effects, the real experience of cyber war. Yeah, so the group is called sand worm in this is just one of the the sort of opening arcs of the book is how they've come. They come to be named this because references and code walk people through just like it's so. relatable that like even these hackers are using using this language that leads them recalled Sandwich Tell people about it. So when I started to look into the origins of this group after that second blackout attack I I found that this this company called eyesight partners which have been acquired by fire I I, said partners was the first to find these hackers in twenty, fourteen, basically using fishing in kind of typical espionage tactics, plant malware in the networks of typical Russian hacking targets like groups across Eastern, Europe and NATO in a look like what they were doing was just kind of typical espionage. They were planning. This by wear calls lack energy buds will first of all they could see that they were rushing, because they had this server that they were using to administer some of these attacks and they. They left the server, so anybody could look at it in. There was a kind of Russian language to file for how to use black energy on the service, so these guys seem like they were rushing, but even more interesting in some ways. was that they to track each victim each instance of black energy? This malware has little campaign code in each campaign was a reference to the science fiction novel Dune and you know so like one of them was something about Iraq is, and then one of them is about the sutter cars, these like imperial soldiers in in that SCI FI universe so I said partners named this group sand worm, because well just because it's a cool. Name associated with doing, but it turned out to me. It became this very powerful because a sandwich miss this monster that lies beneath the surface, and occasionally arises from underground to do terribly destructive things. partners didn't know that at the time, they they soon afterward realized what sand. was doing was not just espionage, but they were actually doing reconnaissance for disruptive cyberattacks. They were also hacking power grids. They were planning black energy, not only in the European Eastern European targets in the US power grid networks as well. The Ultimately Syndrome was the first twenty fifteen to cross that line in use black energy as the first step in a multi step attack that led to a blackout. So this was not just espionage really was kind of like you know this monster that rises from under the ground to do terrible acts of mass destruction that came to pass so one of the things that comes up over in the book. Is this growing sense of dread from security researchers and analysts? Oh this is an imminent threat to the united. States just Ukraine, but like this is happening here and then there's a sense that the United States actually open the door to this kind of warfare with stuxnet. which was an attack on Iran? How how did those connect for you that it seemed like there's a new rule of engagement new set of rules of engagement for cyber warfare that actually the United States implicitly created with with stuxnet by attacking Iran. Yeah, I mean I tried to highlight. Clearly sand worm are the real bad guys in the story, they are the actual hacker group that did these terribly reckless destructive attacks that actually in some cases put people's lives at risk, the kind of in some parts of the story they actually shutdown medical record systems and I. Think may have cost people's lives with cyber attacks today they are the actual antagonist here, but I also want to highlight the ways that the US government is is partially responsible for the state of Cyber War, and there are a few ways that that's true. I The US! Open the Pandora's box of cyber war with stuxnet. This piece of now where that. That was used to destroy Iranian nuclear enrichment centrifuges that was the first piece of our that actually have caused that physical disruption destruction, and we now see Sandra doing the same thing in Ukraine. In in fact, in some ways around the world, also the the US hordes, these kind of zero day, secret hacking techniques, some of which were stolen and leaked and used by sand worm, but then I think the in fact, the biggest way that I tried to highlight that the US is responsible or complicit or negligent. Here is that we did not call allows what Santorum was doing in Ukraine and say to Russia. We know what you're doing. This is unacceptable. Nobody should be turning out the lights. Two civilians with cyber attacks. There wasn't a message like that I. mean the Obama White House sent a message to Russia over this kind of cyber hotline to say your election hacking is not okay. We see what you're doing and we want you to stop, but they said nothing about a tube blackout attacks in Ukraine, and that was kind of implicit signal to Russia. They could keep. Keep escalating, and even as all the cyber security, researchers and Ukrainians were warning that what was happening to Ukraine, would soon spread to the rest of the world, the US government ignore this both Obama, and then the trump administration until that prediction came to pass and a sand worm cyberattack did spread to the rest of the world, and it was too late, and we all suffered globally as a result, so let's talk about patch it. WAS CATASTROPHIC IN SCOPE, right? It took out the mayor shipping line, which is a massive business. It took out some hospitals in UK like it was huge in scope. I don't think people really put it all together. Talk about how it started and how big it grew. Yeah, so not too was kind of like big apotheosis sandwich, where all of these predictions of the terribly destructive things they were doing to the rest of the world came to pass but it did it started in Ukraine. They hijacked this. The the software updates of this accounting software called me doc that is basically used by everybody in Ukraine. The quicken turbo tax of Ukraine. If you do business in Ukraine, you have to have this installed, so sanborn hijack the updates of that news to push out this worm to thousands of victims mostly in Ukraine, but it was a worm, so it's spread the mmediately end quickly kind of carpet bombs. The entire Ukrainian Internet's every computer at spread to would encrypt permanently. You could not recover the computer, so it very quickly took down pretty much every. Every Ukrainian government agency twenty two banks multiple airports for hospitals in Ukraine that I. could count and in each of these cases. What is eight took them down. I mean it destroyed essentially all of their computers, which requires sometimes weeks or months to recover from, but then as you know, this is a worm that does not respect national borders. So even though it was, it seemed to be an attack intended to disrupt Ukraine. It immediately spread beyond Ukraine's borders. Borders to everybody who had this accounting software installed? That was doing business in Ukraine and some people who didn't so that includes Maersk. The world's largest shipping firm and Fedex and Mondelez, which owns cadbury, NABISCO and ranking manufacturing firm that makes tylenol in Merck. The Pharmaceutical Company in New Jersey on each of these companies lost hundreds of millions of dollars. The scale of this is kind of difficult to capture but I in the book I tried to. To I focused in part Maersk because it is just a good company to look at because you can. They had this gigantic global physical machine that is they have seventy six ports around the world that they own as well as these massive ships that have tens of thousands of shipping containers on them. And I told the story of how on this day seventeen of their terminals of were entirely paralyzed by this attack with ships arriving with just. Piles of containers on them. Nobody could unload. Nobody knew what was inside of nobody knew how to load or unload them with around the world of seventeen terminals, thousands of trucks, Semitrailers, carrying containers were lining up in Lyons miles long because the gates that were kind of checkpoints to check in the these trucks to drop something off or pick it up. They were paralyzed as well. This was a fiasco on a global scale is responsible for a fifth of the world's lable shipping capacity. They were truly just a rendered brain dead by this attack, but yeah displayed out at all of these different victims MERC had to borrow their own each vaccine from the Center for Disease Control because they're manufacturing. Manufacturing was disrupted by this, and it ultimately spread to a company called nuance, nate speech to text software. They have a service that does this for hospitals across the US to dozens of our possibly hundreds of American hospitals at this backlog of transcriptions to medical records that were lost because of this, and that resulted in patients, being do for surgeries or transfers, other hospitals in nobody knew their medical records were updated. I mean this was scale where hundreds of hospitals each of which has thousands of patients missing changes the medical records. We don't know what the effects of that work, but very well could've actually harmed people's health. Our lives I mean the scale of not petty is very difficult to. Get your mind around, but we do know that you know monetarily cost ten billion dollars, which is by far the biggest number we've ever seen, but it also had this this kind of harder to quantify toll on people's lives, so it it you know you read about it at length and wired. Obviously these companies go down of ripples in mainstream sort of general press, but I don't feel like people really not like Oh. This Russian group called San Worms sponsored by the Russian government. Unleash this attack in it caused this cascading effect of failure and disaster cost in that because we know what we can attribute it to the government, our government. I don't feel like that connection got made for people. What is the gap between other as a hack and Oh, this is actually a type of warfare engagement, because that that connection seems very tenuous. I think for a lot of people. Even as sort of the more general mainstream press covers this stuff. Yeah, you know. I don't think that that's is just like the nature of. Of Cyber War I think that was a failing that that lack of connection is a failing on our government's parts, and on you could say even on the part of some of these victims like these large companies I mean I at the time did not pitch it happened. I was fully on the trail of standard within days. I was talking to cyber security researchers who? Who had piece together? Some of the forensics to show the not petiot was Sandra that it was a Russian state-sponsored attack in yet none of those companies that I mentioned mercker Mondelez or Maersk or Fedex, or any of them wanted to say the Russia had done this to them and know governments were talking about either like the Ukrainian government was. They're always willing to point. Point the finger at Russia, but the US government was not, and you know that to me seemed to be just kind of I mean I felt like I was being gas. Let's at that point. I had watched Russia due to Ukraine for a long time at that point tonight. I sort of understood that NATO in the West. We had this kind of cruel logic that. Ukraine is not us. Russia can do what it likes to Ukraine because they're not NATO not e you. They are Russia's sphere of influence or something I think that that's very wrongheaded, but at least it made sense. You know to have that that viewpoints, but now this attack had spread from Ukraine to hit American soil American companies in many cases and yet still the US government was saying nothing I just thought this was bizarre and you know so i. For months I was like. Trying to get any of these companies to tell the story of of their experiences, not Peta I was trying to figure out why the US government wasn't talking about the fact that this was a Russian cyberattack and ultimately I. Think it was I. think it was kind of I know partly disorganization negligence. I think it may have something to do with the fact that the. The? Trump administration doesn't like talking about Russian hackers for obvious reasons, but eight months after it took eight months ultimately for the US government to finally say not that it was a was Russia it was the worst cyberattack in history, and then a month later. The White House impose consequences in put new sanctions on Russia and response, but it took nine months and more importantly it took. Multiple years this without was the first time this was twenty eighteen, and the Russian cyber war in Ukraine had started around the fall of Twenty fifteen, so that's just incredible span of negligence when the US government said nothing about these escalating unfolding. Acts, of Cyber Award that there should have been unacceptable from the very beginning I mean these are the kind of quintessential acts of state sponsored cyber attacks on civilians, trying out the lights. You know that's the kind of thing that I believe that the US government should have called out and drawn a red line across at the very beginning took ears, so I do think it was a big failing. Of of diplomacy, it just seemed like that part of the problem, and this is kind of an expression is it's so hard to describe like if the Russian government sent fighter jets to America and live their support. Okay, like everyone understood, you can see it. You can understand what happened there. In the you know, there's like a however many decades of movies about how to fight that war. This is a bunch of people in a room typing. Like it there's just an element of this where the dangerous Oh federal where the attack is invisible, and while the effects might be very very tangible, the causes are still sort of mysterious people so. My question is who is sandwich. What what do we know about them? Where do they work? What are they like? Do we have a sense of how this operation actually operates? In some ways the the biggest challenge of reporting this book, and I spent essentially the third act of the book, the last third of the reporting of the book, trying to answer the question of who is in worm, who are these people? Where are they located? What motivates them and I guess to partially spoil the ending here. They are a unit of the year you. They are a part of Russia's military intelligence agency, which is responsible for you know, this is not a coincidence. They are responsible for election meddling responsible for the attempted assassination of You. chemical weapons in the United Kingdom they're responsible for the downing of a seventeen as commercial passenger jet over Ukraine were three hundred innocent people died on the G. R.. You are this incredibly reckless callous out military intelligence agency, but they act like kind of almost just cut through mercenaries around the world. Doing Russia's bidding in ways that are very scary, so I threw essentially like a combination of excellent work of a bunch of security researchers who I was speaking to combined with some confirmation from US intelligence agencies, and then ultimately some other clues from the investigation of Robert Muller into meddling all these things combined created the trail that led to one group within the JERE. You that were you know I? Eventually had some names and faces even address of this this group, and all that was actually only finally fully confirms After the book came out Justin in recent months when the White House finally actually was the State Department's. End as well as the UK on Australian and other governments together finally said yes, sand worm is in fact that this unit of the year you so this theory that I developed in positive near the end of the book was finally basically confirmed by governments just in recent months. So one thing that strikes me at that is I, think of the Russian military things. Gru is being foreboding being obviously, they're very very good at this other a buttoned up in then they have like a incredible social media presence that kind of POPs up throughout the book that distracts from what doing. They set up Gucci for two point Oh when they were doing the DNC hacks that fed to wikileaks in the. That account insisted it was just guy. They set up the shadow brokers which was. I read. It is just like your some goof-balls like they wanted to seem a lot dumber and a lot smaller than they were. They were very effective at it to people I. Talk About those that strategy, and then I guess my question have is like a re better at seeing that strategy for what it is well. You make a really interesting point. The uses these false flags like throughout their recent history that we I should say we don't know that they were responsible for shadow brokers. In fact, nobody knows who shot a brokers. The shadow brokers truly are, and they are in some ways the biggest mystery in this whole story, this one group that hacked the NSA apparently and leaked a bunch of their zero day hacking techniques, or maybe they were even say insiders. We still don't know the answer to that question, but the other other incidents you mentioned. That are you are responsible for this Guja for two point zero fake hacktivists leaked a bunch of the Clinton documents. They're responsible for other false flags like they at one point to call themselves the Cyber Caliphate pretended to be Isis. They've a pretended to be like patriotic pro. Russian Ukrainians at some point they they're always like wearing different masks ends. They're very deceptive. in the a later chapter of the book, some of the biggest one of the biggest attacks they. They did was this attack on the twenty thousand Olympics where they not only wore a false mask, but they actually had layers of false flags where as cyber security researchers W. This melwert was used to destroy the entire back end of the two thousand eighteen winter Olympics. Just as the opening ceremony began, this was a catastrophic events. The aware had all of these fake clues made look like it was Chinese or North Korean or maybe Russian. Nobody could tell it was like. It was this kind of confusion bomb almost designed to to just make researchers throw up their hands. Give up on attributing mallards. Any particular actor was only through some amazing detective work by some of the analysts that I spoke to the able to cut through those false flags identify that sand was behind this essentially, but yeah, it's it is a one very real characteristic of the jury you that they are almost they seem to almost take pleasure or like be showing off their deception capabilities to and their evolving those capabilities they are getting more deceptive over time as fake gets more, destructive aggressive. Advertising content when I say Utopia what comes to mind? Birds Chirping lush natural beauty dialed up and vibrant technicolor. Is it within reach. Your world. World. explained. You are an essential part of the Pathak social body. Everybody in that place. Everybody happy now. While the peacock original series brave new world takes place in a scientific futuristic utopia. The concept is nothing new Sir Thomas more. I introduced the theory five hundred years ago, but we keep looking for that community identity stability of aldous. Huxley's Utopia and not finding it. Americans are the unhappiest they've been in decades and we're increasingly lonely. whereas in a utopia, everyone belongs to everyone else. In nineteen, forty-three, the psychologist Abraham Maslov developed a theory of Yoga. One that allows total self determination in basic terms. maslow's theory says that in a utopia we decide for ourselves what we need and how we're going to get it in Huxley's Utopia. Citizens always get what they want and don't want what they can't get. Sounds pretty good right then. Why can't we make it happen? For a Utopian Society, to work, we might need to disband some of the things we hold dearest marriage government privacy individualism, even family. See for yourself if a utopian world is as perfect as it seems watch, brave new world now streaming only on peacock. This is advertising content. Hey. This is bowes I'm a podcast or By, I, a Gamer Five G. is changing the gaming world in really unexpected exciting ways with the help of Samsung Five G. I'm getting a peek at how gaming is getting faster smoother and can even improve our lives well. Let's dish some secrets about the future gaming. Dr Jean Mechanical Direct Route Game Research and development at the Institute of the future. She's also a bestselling author game inventor. She's optimistic about gaming impact on us and our minds. The biggest thing that we've seen in research is that. We need to be able to game in the moment wherever we are. So, what happens when when you're playing when your favorite games is that it fires up than her logical pathways, it's kind of like having a of caffeine and a pet dog from your favorite coach, and you've just meditated for an hour. This emotional neurological power up is called the game transfer effect, and that effect is heightened when using five. Five G. The game transfer fact requires you to be totally immersed in the game, so you want to have the most amazing graphics and the most immersive audio and with five G. to do that anywhere anytime, be one of the first to harness the game transfer effect with Samsung Galaxy Five G. now available on Galaxy, S Twenty-five g and a seventy one five G. feels good to be I with Samsung. I love to play the game of like. Imagine the meeting and imagine that the one set of meeting which is like the actual hackers finding the vulnerabilities figuring out how to jump from Windows, eight computer to some sort of physical hardware controller that actually runs like that. That's a very hard problem in and of itself, and then the other meeting. They're like what we're GONNA do is claim to be a guy called Gucci for two point, Oh and like those are. Not Connected Right, but the way they throughout the book the way they execute East campaigns they're deeply connected, and that seems like not only just a new kind of warfare, and you kind of craft, but some just consistently seems to work in surprising ways like the tech press is GonNa. Be Like Gucci. I says this and we're. There's never that next step of also we think it's Russian government, and that seems like first of all I'm dying. I imagine the meeting right. I would love to be a fly on the wall of the meeting where they decide what their twitter name is going to be today. I'm very curious how they evolve those attacks in such a way that it just seems to be more and more effective time. Yeah, I mean. I also love to have been those meetings in. It's my one kind of regret in this book that I never actually got. Interviews, it's almost an impossible thing to do. They liked find defectors from the R., you or something. He will tell those stories at a knock it murdered I mean. It's kind of a possible, but but. In some cases? I think your earlier points. They almost seem kind of bumbling in these things they do them in a very improvisational way. for two point Oh seemed almost like it was a justice thing they invented on the spot, tried to cover up some of the the accidental ups like they had left russian-language formatting errors in the documents that they had leaked from the DNC, so they admitted this guy who appeared the next day and started. Talking about being a Romanian. Friends as motherboard Lorenza, Franceschi decry he started this conversation. Align with with Guja for two point, oh basically proved at the guy could not actually properly speak Romanian. BE Russian speaker. In fact, it was. It was almost comical at the same time. They're using very sophisticated hacking techniques doing destructive attacks on a massive scale, but they're also. They seem like they're kind of making it up as they go along. They do things that don't actually seem very kind of strategically smart. They kind of seem like they're trying to impress their boss for the day. Sometimes with just like some sometimes, it's just seems like the Jere. You wakes up in asks themselves. Like what can we blow up today? Rather than thinking like? How can we accomplish the greater strategic objectives of the Russian Federation? So they are fascinating in that way and very stringent colorful group. That's I think one of the biggest questions I have here is. We spend a lot of time trying to imagine what flat and Mirror Putin wants. You know when he grows up, but it. None of this seems targeted like what is the goal for Russia to disrupt the Winter Olympics right like. Is there a purpose to that? Is that just a strike fear? Is it just to? EXPAND THAT SUV influenced. Is it just to say we have the capability furious is there? has there ever really been the stated goal for this kind of cyber warfare? That one is particularly mystifying. I mean you can imagine why Russia would want to attack the Olympics. They were banned from the two thousand Eighteen Olympics doping, but then you would think that they might want to attack the Olympics and send a message maybe like eight deniable message a message that you know if you continue to ban us. We're GONNA. Continue to attack you like like any terrorists would do, but instead they attacked the winter. Olympics in this way, that really seemed like they were trying not to get caught, and instead like make it look like the was Russia North Korea? And then you have to like what is the point of that was? The could kind of. Sit there in Moscow and kind of like rub their hands together in gleefully. Watch this chaos unfolds. It almost really does seem like it was petty vindictive thing that they just for their own emotional needs wanted to make sure that nobody could enjoy the Olympics if they were not going to enjoy them I that was, but that one is i. think outlier in some ways for the most part you can kind of see. The Russia is advancing. The G. R. You that sand worm is advancing something that does generally make sense which is that. In Ukraine for instance, they're trying to make Ukraine look like a failed state. They're trying to make Ukrainians. Lose faith in their security. Services are trying to prevent investors globally from funneling money into Ukraine trying to create a kind of frozen conflict, as we say in Ukraine where there's this constant perpetual state of degradation. They're not trying to conquer the country, but they're trying to create a kind of permanent war in Ukraine and would cyber war. You can do that beyond the traditional front end. It is in some ways the same kind of tactic that they used in other places like the US which. which here we saw more than influence operation that they were hacking leaking organizations like democratic campaign organizations and anti doping organizations to kind of so confusion to embarrass on their targets. They're trying to influence like the international audiences opinion these people, but in Ukraine, it is in some ways, just a different kind of influence operation where they're trying to influence the world's view of Ukraine. Influence Ukrainians view of their themselves under government to make them feel like they are in a war zone even when their kid hundreds of miles from the actual fighting. That's happening on the eastern fronts in the eastern region of. Of Ukraine so in a book you you you go to Kiev. You spent time in Ukraine. Is there a sense in that country that while sometimes light goes out sometimes our TV stations. Their computers don't boot anymore. Because they got rewritten, the Hydros got Zeros like. Is there a sense that this is happening? Is there a sense the defy back is there does Microsoft deploy you know dozens of engineers to to help fight back. How does that play out on the ground there? Yeah, I mean to be fair. Ukrainians are very stoic about these things and regular. Ukrainian citizens were not bothered by you know. Know a short blackout. They didn't particularly care you know. This blackout was the first ever. Hacker induced blackout in history but Ukrainian cyber security. People were very unnerved by this end, people in these actual utilities were traumatized I mean these attacks were truly like relentless sins very kind of scary for the actual operators at the controls I mean in the first blackout attack. These poor operators Ukrainian control room in western Ukraine they were locked out of their computers, and they had to watch their own mouse cursor. Click through circuit breakers, turning off the power in front of them I. Mean They watched it happen? At these kind of Phantom hands to control of their mouse movements, so they took this very very seriously, but yet Ukrainians as a whole I mean they have seen a lot. They are going through an actual physical war. They've seen the seizure of Crimea and the invasion of the east of the country. You know the the date hits. A Ukrainian general was assassinated with a car bomb in the middle of Kiev, so they have a lot of problems, and I'm not sure that cyber war is one of the top of their minds, but not patio I. Did, actually reach Ukrainians normal. Ukrainian civilians to it. It shook them as well. I talked to two regular Ukrainians. who found that they couldn't swipe into the Kiev Metro. They couldn't use their credit card at the grocery store. All the ATM's were down The Postal Service was taken out for every computer that the postal service had was taken out for more than a month. I mean these things really did affect people's lives, but it kind of. A until that kind of climactic worm. Not Patio for I think for this to really reach home for Ukrainians. who have kind of seen so much. How do you fight back? I, mean I one of things that struck me as I was reading. The book is so many of the people you talked to people who are identifying the threat. They're actually private companies. Eyesight was the first even detect it. they are contractors to intelligence agencies the military in some cases, but they're not necessarily the government right like it's not necessarily Microsoft. Who has to issue the patches from the software not necessarily GE which makes simplicity, which is the big industrial controls talk about a lot. How does all that come together into a defense because that seems like harder problem of coordination? Yeah, I mean defense in Cyber. Security is in an eternal problem. It's incredibly complicated, and when you have a really sophisticated determined adversary, it know they will win eventually ends I. think that they're absolutely lessons for defense in this book about you know. Maybe you need to really really think about software updates for instance like the kind that were hijacked to a with this medoc accounting software. As a vector for terrible cyber-attacks. Imagine that like. Any of your insecure apps that have kind of updates can be become a a piece of Malware, really unique to signature networks need to think about patching on. There are just an endless kind of checklist of things to every organization needs to do to protect themselves so. In some ways that just like a Sisyphean task and I don't. I don't try to answer that question in the book because it's too big, and it's kind of boring as well, but what I do really hammer on is the thing that the government's really could've done here. which is to try to establish norms tried to control attackers through diplomacy through kind of disciplinary action through things like kind of Geneva Convention for Cyber War if. If you think about a kind of analogy to say like chemical weapons, we could just try to give everyone in the world a gas mask that they have to carry around with them at all times, or we could create a Geneva. Convention norm that chemical weapons should not be used in if they are than crime, and you get pulled in front of the Hague. Hague and we've done the ladder and I think that in some ways should be part of the the answer to cyber war as well we need to establish norms and make countries like Russia or like organizations like the G. Are you understand that there will be consequences for these kinds of attacks, even when the victim is not the US or NATO or the? The EU and I think we're only just starting to think about that. One of the questions I had as reading is it seems like a very clear red line for almost everyone you talk to is attacks on the power grid right? That is just unacceptable. You should not do it if you do it. You've crossed a line and there should be some consequence. Is, that clear to governments. Is that something that our government says? It's something that the says it has been established. It seems like it's it's the conventional wisdom wants to salvage, but I'm not unclear whether that is actually the line that exists. It definitely has not been established, and when I kind of did these I managed to get sort of interviews with the top cyber security officials in the Obama ends trump administration Jay Michael Daniel was the cyber. Cyber Coordinator for the administration was the kind of cyber coordinator boss in the The Homeland Security Adviser for trump and both of them when I asked him about like wiped. Why didn't you know to put it bluntly like? Why didn't you respond? When Russia caused blackouts in Ukraine? Both of them essentially said well. You know that's not actually the rule that we want to set. We want to be able to cause blackouts in our adversaries networks. In their power grids when we are in a war situation or when we believe it's in our national interest, so you know that's the thing about these cyber war capabilities. This is part of the problem that every country. Absolutely the US among them isn't really interested in controlling these weapons, because we in this kind of Lord of the rings fashion, we are drawn to them to like we want to maintain the ability to use those weapons ourselves and nobody wants to throw this ring in the fires, of Mount Doom. We all wanted maintain the ring and imagine that we can use it for good in out. So that's why neither administration called that Russia for doing this because they want that power to. Make the comparison to to nuclear weapons but Negotiated drawdown and treaties with Russia in the past we count warheads where aware that the United States stockpiles can destroy the world. Fifty Times over today maybe tomorrow one hundred hundred like what we have a sense of the the measure of force that we can. Put on the world when it comes to nuclear weapons, there's a sense that Oh, we should never use these right like we have them as a deterrent, but we've gained out that actually leads to his mutually assured destruction like there's an entire body of academics. There's entire body of researchers. Entire body is got scenario planning with that kind of weapon. Does that same thing exist for for cyber weapons. There are absolutely. Know community is of academics. Policymakers who are thinking about this stuff now, but I don't think it's kind of gotten through to actual government decision. that. There needs to be kind of cyber deterrence in how that would work. In in the comparison to nuclear weapons is like instructive, but not exactly helpful. In fact, it's kind of counter-productive because we cannot deter cyber-attacks with other cyber-attacks i. don't think that's GonNa work in part because we haven't even tried to establish it yet. There are no kind of rules or read lines, but then I think more importantly. Everybody thinks that they can get away with cyberattacks that they can. They're going to create a false flag. That's clever enough that that when they blow up a power grid, they can blame their neighbor instead, so they think they're. They're gonNA. Get Away with it, and that causes them to do it anyway. A not fear the kind of assured destruction so I think that the the right response, the way to to deter cyber attacks is not with the promise of a cyber attack in return. It's with all the other kind of tools we have, and they've been used sometimes, but but they were not in the case of Sand Werman. Those tools include like sanctions which came far too late in the story indictments of hackers. In some cases, we still haven't really seen syndrome. Hackers indicted for the things that they did in Ukraine or or even not petty. And then ultimately just kind of messaging like calling out naming and shaming bad actors, and that has happened to some degree with Sandra, but in some cases there have still been massive failures there there has still been no public attribution of the Sandwich attack on the twenty eighteen Olympics I mean. My Book has been out for months. I think show pretty clear evidence that syndrome is responsible for this attack. The very least it was Russia and yet the US and Korean War, These Olympics took place at UK, none of these governments have named Russia as having done that. That attack which almost just invites them to do it again whenever our next Olympics are going to be, I guess maybe not this year, but if you don't send that message than you're just essentially inviting Russia to try again so I think might my big question is what happens now? I mean right we you write about. The NSA has tailored access operations, which is their elite hacking group. We are obviously interested in maintaining some of these capabilities. We've come to a place where people are writing books about how it works. What is the next step? What is the next? does it just keep getting worse or does this kind of diplomacy you're talking about? Is that beginning to happen I? Think there is some little glimmers of hope about the diplomacy beginning to happen I mean this year in February I think it was the State Department's called out a sand worm attack on Georgia, where a worms hackers basically took down a ton of Georgian websites by attacking the hosting providers as well as a couple of TV's broadcasters in the US. State Department with a few other governments not. said this was sand. Worm named the unit of the GRU. That's is that was confirmation that I've been looking for for a long time, but they also made a point of saying that we're calling this out is unacceptable, even though Georgia. Georgia is not part of NATO or the U. so that's that's progress. That's essentially creating a new kind of rule. That's state-sponsored. Hackers can't do certain things, no matter who the victims and that's really important. Also, it was kind of interesting because federal officials like gave me a heads up about that announcement before happened, which they have very very rarely do and I think they were trying. To say was in we. We read your book and we. Got The message okay like Stop attacking us about this like we're trying. We're doing something different here I. Don't want flatter myself that I actually changed their policy, but it did seem interesting that they wanted to tell me personally about this so i. I think that like maybe our stance on this kind of diplomacy is evolving, and we're learning lessons, but at the same time we also see the attacks evolving to. To and their new innovations in these kinds of disruption happening, we've seen since some of these terrible Sandra attacks. You know other very scary things like this piece of our called Triton or crisis that was used to disabled safety systems in a oil refinery in Saudi Arabia on that was you know that could have caused an actual physical explosion of petrochemical facility? The the attacks are evolving to okay final last real question. Tell people where they can get your book. You can find all kinds of places by on indie Greenberg Dot net. Written another book as well previously, yes. That's right. I wrote a book about wikileaks. Cypher punks and things like that. That's right well. I'm a huge fan. It was an honor to talk to you. Thank you so much for coming on I know it's. It's a weird time to be talking about anything, but the coronavirus I was very happy to talk about something else, which is that it seems a little bit more in control Even if it is quite dangerous, a thank you for the time. I appreciate it. Yeah, I'm glad to provide people with a different kind of apocalypse as a distraction.

Ukraine United States Russian Government Nato Olympics Kiev United Kingdom Sandra Cyber Award State Department Kim Zetter Barack Obama Clinton Russia San Worm Sandy Greenberg NSA DNC
"ten billion dollar" Discussed on KNX 1070 NEWSRADIO

KNX 1070 NEWSRADIO

01:41 min | 1 year ago

"ten billion dollar" Discussed on KNX 1070 NEWSRADIO

"Authority ten billion dollars more than defense the president has said he would sign the bill bill Rakoff CBS news Capitol Hill traffic and weather together every ten minutes on the fives it's two thirty five years loosed hours all those CHP says all lanes are open on the southbound side of the seven ten a rose grandes after this two vehicle crash has been allegedly cleared I'm still seeing hollow still seeing stoppage of traffic this is on the seven ten south at the one oh five and just before Rosecrans and so they may be waiting on a tow truck to get things out of there and then just down at the ninety one seeing the maybe some Caltrans were going on this is on the seven ten north the transition to the westbound ninety one also the ninety one east bound to the south bound seven ten seeing some slowing there as well and the connector to the north from the north and seven ten to the east of ninety one two lanes are shut down this is for an accident investigation working there and so so thank thing that south the eastbound ninety one of the south seven ten so just be aware of that if you're a winding around through there they may be picking up their activity there so just be aware of that then let's go to the west Covina area this is on the ten west of the two right lanes are shut down from hold whose whose and on the westbound side the ten two left lanes from such as to appoint a bit on the eastbound side there from pointed to citrus the three left lanes are shut down then the two right lanes are shut down from the a very to the fifty seven and the ten east transition to the north down fifty seven in the south on seventy one also shut down next reports coming up at two forty five I'm least hours more traffic reports.

president CHP Rosecrans west Covina two thirty five years ten billion dollars ten minutes
"ten billion dollar" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

01:35 min | 1 year ago

"ten billion dollar" Discussed on WBZ NewsRadio 1030

"Star Wars the ten billion dollar project is the name Cheddi which stands for the joint enterprise defense infrastructure is a joint project of N. C. huge amounts of classified data capable of communicating for the Pentagon straight to any soldier on the battlefield Amazon was a top contender for the cloud contract the oracle which is knocked out of the running is suing saying Jeff phases companies way too cozy with Pentagon top dogs Microsoft is also in the running it IBM has weighed in saying it doesn't think one cloud based system is smart at all too many chances for to be fact Jerry Preston ABC news on Capitol Hill the TSA telling a house panel today look we've got to get it right but facial recognition technology is critical to the future of air travel TSA's Austin gold says just look at the past weekend the ability to increase throughput while providing more accurate identification will be essential as passenger lines continue to grow at approximately four percent annually in fact we experience the busiest travel day ever last Sunday of the fourth of July weekend we screen approximately two point eight million passengers and crew a number of lawmakers on Capitol Hill say they're concerned about accuracy and potential privacy problems meantime the secretary of state in Maine says he is not going to give federal agents open ended access to a new ID database secretary Matt Dunlap says the pine tree state instead will require the feds to get the okay from him he insists that he wants to work with law enforcement but he's not gonna go let them go on what he calls a fishing expedition as of July first residents of Maine can get licenses or ID cards that meet the requirements of the brand new federal real ID law artist three twenty we are in the thick of rush hour right now lots of backup so check traffic in about.

Pentagon Amazon Microsoft IBM TSA Maine Matt Dunlap Jeff Jerry Preston Austin secretary ten billion dollar four percent
"ten billion dollar" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:46 min | 1 year ago

"ten billion dollar" Discussed on Bloomberg Radio New York

"Prince says he's country signed so-called memorandum of understanding in Pakistan with twenty billion dollars. Mom and bin Salman was welcomed by prime minister Imran Khan at the start of an Asian tour. That will also take him to India and China the promises of investment in Pakistan include deals in agriculture and energy among them at ten billion dollar refinery. Global news twenty four hours a day on and talk on Twitter by by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm at about rulers. This is Bloomberg check on the markets now history in Singapore. Annabel eight is a very solid risk on a session today. The Asia Pacific index by the one percent trekking at Taiba highs after we had that positively coming through from Wall Street on Friday that positively from the US China trade talks, and then cry China credit data coming through from on Friday from China for the month of January, very solid as well. You can say that the CSI three hundred is certainly leading the gains in the afternoon session up by two point six percent on that index, but we are seeing broad-based buying across all of us should say the markets today and particularly in the commodity spaces. Well, that's strong Donna coming through out of China on Friday facing a lot of the commodity plays copy in Shanghai futures up by other one percent aluminum. Also, looking very solid. We have had a little bit of weight miss coming through as we know a week, the duller that is the impact in a lot of the Asian ethics, and we're awaiting the Singapore budget. We saw exports here in Singapore, actually dropped the most in more than two years, but thing. Still slightly higher ahead of that budget release menace. I'm just thinking across these market boards. This morning on India's seems.

China Singapore Pakistan Salman US India Imran Khan Prince prime minister Twitter Annabel Bloomberg Asia Shanghai Donna one percent twenty billion dollars ten billion dollar
"ten billion dollar" Discussed on Invest Like the Best

Invest Like the Best

03:42 min | 1 year ago

"ten billion dollar" Discussed on Invest Like the Best

"Decentralized approach, and we actually did spend a lot of time scratching our heads. And and chasing. Can you have some sort of crowd based venture model that's good at picking out liars? And I think we've come up with something that gets out that in the ways that it's possible, but it's certainly not from consensus. And so the the needle the needle that we're threading with our model is how do you leverage the value of an immensely skilled network, but also systematising implement what has worked well for the the highest returns in venture capital, which is that outlier affect physically like all of the returns of the venture industry. Come from, you know, various of handful of of companies in his it's it it seems like that's the gravity of the of the industry. Like, that's the the laws of venture capital. The this outlier effect to get in. To some of the the key lessons that you've learned and really peel away at this outlier -ffected like systematize ways of of positioning yourself in companies that could become the whatever billion ten billion dollar plus companies, but I love to begin with data. She mentioned two hundred ninety or three hundred companies even vested in God knows how many you've seen. I always love people that just get to look at a ton of businesses is Ernie just pure quantitative data or rules that you've derived from that process since two thousand and twelve you think people would find interesting. Yes, this is opens up a whole avenue of conversation. Probably could do the hot cast just on this topic. So far, we go. We'll perhaps we'll do like a little previous. So basically like, obviously with any application your ability to leverage data for useful insights is dependent on quality of your data and quantity of your data and the applica- ability of your data like all this. And so one of the challenges venture is especially early stage. Venture is one could very credibly say, okay. If your whole job is to identify sort of disruptive outlier like no one thinks is. Is this possible companies how could you possibly have data? That's relevant. Right. And so that's a very strong argument. And actually, that's the consensus argument. What we realized is that. Okay. That's probably true. Like, actually, I believe that also. But what if it simultaneously true that there's certain business models in venture in tech startups that have been used over and over and over again where you actually could potentially have good data. And so we thought about that. And and for instance, in enterprise, like company selling businesses, there's the SAS business models subscription as a service offer as a service. And so in the consumer side, you have consumer marketplaces, so think of Airbnb ruber, and so what we realize is, you know, you mentioned you funded hundreds literally hundreds of companies we've seen literally thousands of companies, and again, and again certain business models are repeating the so like breaking apart say like SAS, what our example metrics that are parameters that a SAS company might have these would be things like. ACV contract value average contract value or retention or turn do the companies. Stay with the firm long-term. Do they leave later on, you know, sales officiency how how efficient are the cells Timpson so forth. You don't have that data the seed state say both sounds like, you know, series B type valuations. Yes, and no, right. We'll get we'll get into that. And then only on the consumer marketplace side, you know, metrics like what's the percent of organic acquisition versus Paik was shin. LTV customer lifetime value customer acquisition cost CAC cohort retention. There's a discipline almost a science around some of these metrics that you truly can translate. And we've seen as done extremely well. And so once you realize that it's like, okay, cool. Now, we know some of the parameters that are applicable, and we know that some of the business models where we can apply this data to make informed venture investments, but the challenge is that okay?.

Paik Ernie SAS Airbnb billion ten billion dollar
"ten billion dollar" Discussed on 760 KFMB Radio

760 KFMB Radio

03:05 min | 2 years ago

"ten billion dollar" Discussed on 760 KFMB Radio

"To enjoy a more confident car buying experience president trump is taking on allies at the nato meeting cbs news white house correspondent steven portnoy reports today mr trump added to his lament about european defense spending by specifically calling out germany for its recent natural gas pipeline deal with a russian own firm we're supposed to protect you against russia but there you're paying billions of dollars to russia he got into it with the nato secretary general so you tell me is that mr trump said as a result of the ten billion dollar deal germany is now a captive of russia jens stoltenberg said the allies can disagree on oil and gas insisting two world wars and the cold war prove the allies are stronger together just making russia richer steven portnoy cbs news at nato headquarters in brussels now the deadline passes and dozens of migrant children returned to their parents but not all cbs news maria via riyal is in el paso were many families remain in limbo on tuesday ever raise mahia saw his threeyearold son for the first time in three months separated at the border the two are reunited yesterday following a court order deadline judges made it clear he does not intend to be hands off at a federal court hearing judge dana saybrook told the government they need to streamline the process family reunifications late in the day ruben garcia with the annunciation how shelter in el paso gotta call he was waiting for all day do you believe that they dropped them off this late at night to meet that deadline that they promised the federal court i'm sure i'm sure i do believe that this was an effort to comply with the court order of july ten along the texas mexico border in el paso media y'all cbs news a man riding on a greyhound bus on the i five live in university city stabbed a fellow passenger in the neck today then jumped out of the moving vehicle fled across the freeway and onto the nearby uc san diego campus assault in the bus was reported shortly before twelve thirty after an hour long search a man matching the suspect's description was arrested medics took the victim to the hospital for treatment of life threatening injuries controversy in carlsbad after a protest against president trump's immigration policy was canceled news eight eric connor has more the city puts up signs warning of permanent is needed for special events with more than fifty people organizers of the families belong together rally ended up canceling the event after they say some attend dis felt uncomfortable although others carried on in protest and thankfully exercise individual free speech make no mistake the signs were perceived as planned threats spokesperson says the police put up the signs at the direction of the city attorney the same code that requires a permit for large gatherings also requires the city to post notices of unpermanent events there carlsbad council plans to discuss the issue at a future meeting for am seven sixty i'm news eight eric conard now here's heather myers with your microclimate forecast.

president ten billion dollar three months
"ten billion dollar" Discussed on WTMJ 620

WTMJ 620

03:06 min | 2 years ago

"ten billion dollar" Discussed on WTMJ 620

"Occasions cosponsoring legistlation to forty eight ten billion dollar year department of peace and jackie we have a department piece is called the pentagon and it's the point americans abroad it's a dying foreign shores helped secure liberty here and the world over in order to make we really do have a justin lasting peace so it's insulting with professional politicians like hemi baldwin basically some their nose at that sacrifice five by saying that we needed department of peace because the defense of our nation has not been good enough hands for her we're talking to republican senate candidate kevin nicholson can the big news of course in the last twenty four hours president trump comes out and announces that he wants to elevate judge uprate cavenaugh from dc circuit court of appeals to the us supreme court if you were in the us senate based on what you know now do you think it's a good choice would you vote for yellow judge cavanaugh i would vote for you believe is good choice i think that if you read the body of work that he has produced and i'm not read all of it but i read some of experts in the federal society and beyond who would all say that at the end of the day this is a great conservative legal minds is originally much in the tradition of scalia and thomas now is we're seeing gorsuch as well establish themselves in really the end of the day what does that mean that he is going to interpret law and the constitution is written you're not gonna make law from whole cloth he's not going to invent things out of figments of his immagination pretend that it's in the tax no you're gonna wait on the the legislature to act into provide laws that he can then adjudicating look at and say look this is in the constitution or is not in the constitution this law may or may not stand and that is what we want because at the end of the day were also high strung about the supreme court because the left is us the course trying to keep the results they cannot achieve through popular will in the legislature that is what has created this entire problem in the first place heck if you're a progressive in madison and you're fired up about conservative getting things done to help people and you wanna stop that you're you're fight should be between me and tammy baldwin in november you'll have a clear choice you want to you know keep that comedy more about if you want to hold people back you want to deny people the opportunity to pursue their happiness you can vote for tammy baldwin and against me you want to open up the economy if you want to give people an opportunity protecting innocent life and move forward and create a nation working all work together regardless of what we look like i'm your candidate right but that's what should be it should not be in terms of the spring conservative justices like breath cavanaugh are simply interpret role law is written as they should do we're talking to gop senate candidate kevin nicholson kevin one of the i think hot button issues has been in the news for the last couple of weeks has to do with immigration wrestling with what do you do when people come into this country illegally seeking asylum bringing their children with them if what do you see is the solution what do we need to do to solve the crisis released the perceived crisis we're having down at the border shirt i i things we have to do is.

jackie pentagon forty eight ten billion dollar twenty four hours
"ten billion dollar" Discussed on This Week in Startups

This Week in Startups

02:02 min | 2 years ago

"ten billion dollar" Discussed on This Week in Startups

"Interview from may two thousand five in which she sounds nothing like the elizabeth homes of today so this whole giant fraud now has resulted in her being banned from running a lab that was like the first few to drop then banned from holding an officer position at a public company for a decade or something the sec charged her with fraud and charge their nose with fraud and sunny by wanting her ex boyfriend and the x number two in mid march elizabeth and the company settled the fraud charges she read the pay half million dollar penalty she gave back mo most of her shares as well as her voting control of the company and agreed to a ten year officer director abandoned in a public company she got a a lot of people feel like that was a slap on the wrist like the punishment was not commensurate with the magnitude of the wrong with a ten billion dollar fraud no no and more more than where ernie made off a lot of people aren't gonna feel sorry for the investors who got the fraud because it's you know billionaires like rupert murdoch and the family of betsy devos aren't education secretary and the walton heirs heirs to walmart founder sounds walter people so i mean they destroyed in fraud and those those all those families that they lost one hundred million dollars each you know even though it's a ton of money to me and to most people it's a rounding error for them i think the the fraud where it's much more regis is the cavalier attitude toward patients and s you know putting patients in harm's way and gambling with people's lives they had to restate all of those blood tests thou so they voided or corrected almost a million but test results and my sources tell me that the last director the last lab director they had at the company who just left the company a few weeks ago was.

fraud sec director ernie rupert murdoch betsy devos secretary founder officer walmart one hundred million dollars ten billion dollar million dollar ten year
"ten billion dollar" Discussed on Here & Now

Here & Now

02:02 min | 2 years ago

"ten billion dollar" Discussed on Here & Now

"Would allow states to access that bigger ten billion dollar budget for prevention explain the amount of federal dollars that are available to states to support prevention and early venture early intervention services is very small compared to the investment we make at the federal level in out of home care but i think it's important to remember that this act obviously dealt only with the federal dollars states and counties for years have invested in in services as well with state and county dollars i think this is an opportunity for them to have more cost sharing with the federal government around these services and so this is you know i think about this as new federal investment there's an entitlement program at the federal level called title for e at referring to the part of the social security act that authorizes these federal funds it makes those dollars available to states for these services in the same way those dollars are available for foster care adoption and guardianship services so it really adds on in another allowable way that states and counties can have federal sharing for services who with with the services be i mean how do you keep a child in the home if you know that there's enough danger that you might have to take the child out so this would provide services to families that come to the attention of child welfare agencies there's been a concern expressed about the wellbeing or safety of a child they can do an assessment and work with the family and really try to target resources and services around mental health supports getting mental health treatment prevention and treatment of substance abuse problems in the home i was gonna ask about that because with the opioid epidemic in particular right so there would be substance abuse money out of what used to be just money that was locked for foster care right we'll in very needed if if those preventative services really come through because in georgia and alaska foster care has increased by more than half directly because of the opioid crisis right i'm looking at other research.

georgia alaska ten billion dollar
"ten billion dollar" Discussed on WTVN

WTVN

01:31 min | 2 years ago

"ten billion dollar" Discussed on WTVN

"We've all seen volatility in the stock market and one of the reasons investors are becoming a little panicked is because of rising inflation now one of the few investments that can thrive with inflation is gold and it's probably the major reason why i own it i don't worry about day to day inflation i i worry about what's happening in venezuela that you wake up one day and your dollars are worthless man you don't have any assets to protect you now if you think this can't happen look around zimbabwe is one of the country's goldline by the way is giving you a freeze imbaba ian ten billion dollar bill just for calling in speaking one of their account executives about the benefits of owning gold e you have to have when keep it in your wallet because people say all the time i can't have it really here's a ten billion dollar bill they're doing it now in venezuela it happens usually happen when the government tries to take control and control the economy and and they don't stop spending and they just start printing their way out of debt and it doesn't work ever gosh that sounds familiar there's another country doing that now but let's move on and just say be prepared for whatever could come your way gold line is the only company i trust for myself and for my family call and find out how easy it is to buy an own gold and silver at eight six six.

venezuela zimbabwe ten billion dollar one day
"ten billion dollar" Discussed on WRVA

WRVA

01:32 min | 2 years ago

"ten billion dollar" Discussed on WRVA

"All right we've all seen volatility in the stock market and one of the reasons investors are becoming a little panicked is because of rising inflation now one of the few investments that can thrive with inflation is gold and it's probably the major reason why i own it i don't worry about a day to day inflation i i worry about what's happening in venezuela that you wake up one day and your dollars are worthless man you don't have any assets to protect you now if you think this can't happen look around zimbabwe is one of the country's goldline by the way is giving you a free zimbabwean ten billion dollar bill just for calling and speaking one of their account executives about the benefits of owning gold e you have to have when keep it in your wallet because people will say all the time really here's a ten billion dollar bill they're doing it now in venezuela it happens usually happens when the government tries to take control and control the economy and and they don't stop spending and they just start printing their way out of debt and it doesn't work ever gosh that sounds familiar there's another country doing that now but let's move on and just say be prepared for whatever could come your way gold line is the only company i trust for myself and for my family call and find out how easy it is to buy an own gold and silver at eight six six.

venezuela zimbabwe ten billion dollar one day
"ten billion dollar" Discussed on KMOX News Radio 1120

KMOX News Radio 1120

01:33 min | 2 years ago

"ten billion dollar" Discussed on KMOX News Radio 1120

"In the airline services business for three point seven billion walmart looks like it's wants to take sixty percent of flip cart which is a big retailer based in india for about ten billion dollars and docu sign went public this week their initial public offering was very successful up thirty seven percent on the opening this week and we're talking with jordan goodman we wrap it up with our weaken the rogues gallery what do you have for us there was a report from the united states tennis association that hundreds of professional tennis matches have been fixed over the last few years and so they're going to try to do something about that but that was not good the chinese firm highway is subject to a department of justice probe that they violated as the sanctions with iran for many years telling them electron ix that were banned to do the head of korean airlines fired his two daughters for abusing employees and vendors all over the place screaming at them throwing water at them just terrible it all over the place so we got into trouble so he actually fired his two daughters and then new jersey senator bob menendez who had a trial last year was acquitted of the trial this year this week was the word is severely admonished by the senate for accepting gifts for the lobbyists named dr melgen who ended up overbilling medicare nine million dollars and going to jail he got off on the trial but he was severely admonished by the senate so an interesting combination of.

walmart india jordan goodman iran senator bob menendez senate dr melgen united states tennis nine million dollars thirty seven percent ten billion dollars sixty percent
"ten billion dollar" Discussed on Equity

Equity

01:33 min | 2 years ago

"ten billion dollar" Discussed on Equity

"It is above the market cap is well above that that ten billion dollar point that they had raised at their last private valuation although the stock market has also gone up significantly since then so what it doesn't look that great when you compare it to what they could have been investing in the later stage investors but it is a relevant data point that people like to talk about what do you what do you think about dropbox is performance right well one in an absolute sense i it's a wildly valuable company sitting at twelve or thirteen billion today and huge credit to all the team and investors obviously the twenty nine dollar mark was meaningful because if you include the future dilution from that ten billion raise back in the envelope says about twelve billion as what they needed to clear to be a net neutral from that investment you know three and a half or four years ago and so impressively they've traded up and above that mark and so those investors are made whole obviously you don't want to rent your money for free for several years in in what has been an extremely profitable bull market and other areas but they didn't lose money and and they had a call option on on the upside for a great business and then the early investors obviously and the team members most importantly who control most of the business still today are now sitting on billions collectively and that's great outcome for the highly valuable business here's the thing though it's it's trailing price sales multiple which is only eight metrics track for all the enterprise as companies is over twelve trailing doesn't matter what matters is a future people aren't buying this for current cash flow it's what are they gonna do.

ten billion dollar twenty nine dollar four years
"ten billion dollar" Discussed on AP News

AP News

02:11 min | 2 years ago

"ten billion dollar" Discussed on AP News

"Predicts ten billion dollars will be spent on the nc double a college basketball tournament nearly all of it illegally or off the books that's just one of the reasons the american gaming association favors the full legalisation and regulation of sports betting in the united states the group found fifty four million people or about a quarter of the us adult population participated in sports betting pool last year the us supreme court is weeks away from ruling on new jersey's challenge to a law limiting legal sports betting to just four states delaware montana nevada and oregon ega president jeff freeman says only three percents of the billions wagered will be done through legal nevada sports books three prominent far right activists say they have been deported from britain after being detained when trying to enter the country almost strean mountain celena of the white nationalist generation identity group along with american commentator brittany pettibone and canadian activist and youtube personality lawrence southern tweeted monday that they were denied entry into the u k britain's home office said in a statement the bone of course can refuse entry if a person's presence is considered not conducive to the public good selma said in a video posted on twitter that he and pettibone were detained for three days and deported both had planned to give a speech at speaker's corner in london's hyde park southern who has more than four hundred thousand subscribers on youtube tweeted that she was officially banned from the uk for racism a new hampshire woman who won nearly five hundred sixty million dollars in powerball drawing thing can stay anonymous the judge has ruled but judge charles temple says her hometown won't stay a secret temple wrote that he had no doubts that if the woman's identity was revealed she would be subject to an alarming amount of harassment solicitation and some other unwanted communications he said her privacy interest outweighs the public interest in disclosing her name in the nation's eighth largest jackpot the woman signed her ticket after the january six drawing but later she learned from lawyers that she could have shielded her identity by writing the name.

solicitation harassment charles temple london lawrence southern strean mountain oregon montana delaware basketball united states uk youtube hyde park selma brittany pettibone britain jeff freeman president nevada
"ten billion dollar" Discussed on WTMJ 620

WTMJ 620

02:01 min | 3 years ago

"ten billion dollar" Discussed on WTMJ 620

"To approve a ten billion dollar hot and then implement so what they've done we're not the privately and hire a lot of alpine expert so they actually they've brought in an engineer are we gonna become king overcame a project of anger his twenty thousand a month are they brought in lawyer they brought in consultants hired eight they have help with attachment taken an road i mean it really will have to hire out by have to handle is because the antiterror panel handle the everyday work at a village in you know yeah it really is going to be in the watch a big deal an advocate before you know everything happen i feel the top arbiter where work is going to happen at a local level i mean the claiming the tip of and the road in the door and overtaking the construction ituring the permit inspecting the building of the bill think about all the little finger and a half to happen go it is going to be a humongous effort among the among among a very moffat so former spa administrator karen meals she was in town this week and i know you guys rebel to catch up with their area i'm imagining you asked her about foxconn and what how he could impact a future growth of the region in arctic i hear the everyone of our kauai oh man but now it is i mean they came up entertain gonna get the low prices are anti but maybe narrow he felt it good i mean a great rate in but he could be very careful not to put all your eggs in one basket he received the kind of in algeria alial elephant and that is that you know he had at one large elephant you want to make sure you have other thing around to ensured that a day so we'll he would say it good but you know i mean her poet led by hand could leave at some point opened odd but if not you need to have other than comply tells you really had a it out but now off the milwaukee business journal's editor in chief mark hasn't 620 wtmj one of the other big stories this past week was walker shah's decision to get its drinking water from milwaukee for those who weren't paying attention waukesha had come to a deal already with old creaky we thought that was a done deal had been figured out for a couple.

engineer foxconn milwaukee business journal walker shah milwaukee waukesha moffat administrator algeria editor in chief mark ten billion dollar
"ten billion dollar" Discussed on AP News

AP News

01:32 min | 3 years ago

"ten billion dollar" Discussed on AP News

"Early next year taiwanese technology manufacturer fox connell build its new sprawling manufacturing complex in southeastern wisconsin local political and economic development leaders say the mammoth manufacturing campus be in mount pleasant which is about twenty five miles south of milwaukee and sixty miles north of chicago racine county is executive calls the plant and its ten billion dollar investment a turning point for the country the plan to the largest industrial complex in the state could eventually employ thirteen thousand people an investigation is underway into the origin of amount one thousand human skulls from germany's former african colonies in the collection of berlin hospital the prussian cultural heritage foundation took over the collection of skulls from berlin's charrette hospital and medical schools in 2011 which were from colonies in what is today rwanda tanzania burundi and mozambique the foundation said in a statement thursday it would cooperate with an international nikolic of scientists to evaluate documents and find out more about the origins of the skulls depending on the results the skulls may be repatriated to the countries of origin the skulls were part of a bigger collection that was brought to germany in the 19th and early 20th century by a german anthropologist thank you for listening to the ap radio network hey did you know that the associated press producers newsrelated books here's what's new enough combing first pet presidential go heads and other.

wisconsin mount pleasant milwaukee racine county berlin hospital prussian cultural heritage fou burundi fox connell economic development executive germany berlin rwanda tanzania mozambique ap ten billion dollar
"ten billion dollar" Discussed on 1410 WDOV

1410 WDOV

02:18 min | 3 years ago

"ten billion dollar" Discussed on 1410 WDOV

"Figure out what the truth is they're hoping that it doesn't affect their reelection concerns this is why people have such low view over all of the congress 'cause they're all making promises all the time including i think the repeal of obamacare that many of them have no intention of keeping but trump is out there pushing he's out there selling he's out there cajoling encouraging doing everything he can to i think create the political momentum to get some these agenda items through and we see something happening today that i think the trump administration should certainly jaekle a little victory lap is isn't huge but it's it's an indicator i think and even on cnn the reporting as we look at the apple supplier foxconn says it's going to build a wisconsin factory and in fact it's it's substantial foxconn is best known for making iphones but from what we see here eight looks like foxconn has agreed to a agreed to to not make these things in the us to a ten billion dollar investment scott set up factories in wisconsin and it's a display display pan plant they make lcd liquid crystal displays stop on your on your computer stuff on your tv in in your phone and that could create up to thirteen thousand jobs so here we have member that that was always one of the the one of the discussions that would come up over whether us man you factoring could return it said well what would have cost to make an iphone united states well under current regulations it would be much more expensive than what are used to pang if you have an iphone but if we change some regulations create some incentives maybe we could bring back some of the or could bring some that manufacturing here and in this case it looks like according to the milwaukee journal sentinel wisconsin if it gets he's factories and foxconn technology group does invest the ten billion dollars there may be a threebilliondollar subsidy from the state's taxpayers here but this could have a big impact on the state elections and it could also start to show that maybe trump's enthusiasm incurred dj meant dealmaking and just change in tone towards.

congress foxconn iphones us wisconsin milwaukee journal sentinel wis trump cnn apple ten billion dollars ten billion dollar threebilliondollar
"ten billion dollar" Discussed on No Agenda

No Agenda

01:54 min | 3 years ago

"ten billion dollar" Discussed on No Agenda

"Well this this came up the in different articles ending context of nato the president's trip to saudi arabia and the subsequent deal that he made between the good day meal faith in the desert kingdom for donald trump visiting saudi arabia on his first presidential trip abroad trump sealed a one hundred ten billion dollar this is for the trump presidency and it's in saudi arabia sounds like bagpipes to you it is what is going on they need some hip her i mean where's elton john iris tiny dancer i mean this is no good it was the good day meal face in the desert kingdom for donald trump visiting saudi arabia on his first presidential trip abroad trump sealed a one hundred ten billion dollar arms deal with his hosts parts of up to three hundred fifty billion dollars worth of business according to the united states all of far cry from his political troubles the tow tremendous everybody restaurants in in our military career is very happy community you mean our military industrial complex and billions of dollars of investments into the united states and jobs jobs the traditional new tourist on a classic trump speaking a marathon trip through the middle eastern europe he'll give a speech on sunday aimed at rallying muslims in the fight against islamist militants despite some of trump's previous comments about islam the saudi foreign minister has called his visit the start of attending point between the us and the arabislamic world to what i'm reading is that.

president saudi arabia donald trump united states islamist militants foreign minister nato elton john iris one hundred ten billion dollar three hundred fifty billion do