Global IT Outages Create Chaos and Netflix's Mojo Is Back | Bloomberg Technology
ANNOUNCER: FROM THE HEART OF WHERE MONEY, INNOVATION AND POWER COLLIDE, THIS IS BLOOMBERG TECHNOLOGY. CAROLINE: FROM NEW YORK AND SAN FRANCISCO, COMING UP, FULL COVERAGE OF THE MASSIVE I.T. FAILURE THAT GROUNDED FLIGHTS AND UPENDED MARKETS. ED: NETFLIX GETS ITS MOJO BACK. CAROLINE: EXCLUSIVE INTERVIEW, MARK ZUCKERBERG CALLS TRUMP PA BADASS WITHOUT ENDORSING HIM FOR PRESIDENT. DURING EURO AND ASIAN TRADING, WE WERE HIT THE HARDEST. WE HIT THE LOWS AT 5 A.M., THAT'S WHEN WE STARTED TO WORRY ABOUT THE
GLOBAL RAMIFICATIONS OF ONE KEY COMPANY. ED: CROWDSTRIKE. IT'S DOWN BIG. MARKET LEADER IN ENDPOINT RANSOMWARE, PUT OUT A FAULTY PATCH, AND THAT IMPACTED WINDOWS HOSTS AROUND THE WORLD. COINCIDENTALLY, THERE WAS A MICROSOFT AZURE OUTAGE.
BOTH OF THOSE CONTRIBUTING TO THE DOWNSIDE IN THE STOCK. THERE HAVE BEEN FIXES ISSUED. SO MANY HAVE REACHED OUT ON SOCIAL SAYING TURNING THE COMPUTER ON AND OFF 15 TIMES SEEMS TO HAVE WORKED. CAROLINE: [LAUGHTER]
BLUE SCREEN OF DEATH AS IT WAS KNOWN THROUGHOUT ANY AIRPORT YOU ARE UNFORTUNATELY STUCK AT. LET'S TAKE A CLOSER LOOK AT A BOTCHED CROWDSTRIKE UPDATE. IT DISRUPTED AIRLINES, BANKS, HEALTH CARE SYSTEMS. WHO DO WE BRING ON? TOM GILES FOR THE TEAM-LEADING PERSPECTIVE HERE. WE HAVE A BUSY SET OF TEAMS ACROSS ASIA AND EUROPE TODAY. TOM: MASSIVE OUTAGE, UNPRECEDENTED IN SCALE IN MANY WAYS.
AS ED SIX HINCKLEY SUMMARIZED, THERE WAS AN UPGRADE TO CROWDSTRIKE SOFTWARE. THIS IS A CYBERSECURITY TEAM MANY COMPANIES AND BUSINESSES AND GOVERNMENT AGENCIES AROUND THE WORLD RELY UPON TO MONITOR THEIR SYSTEMS AND KEEP THE INTRUSIONS OUT. THERE WAS AN UPGRADE. IT AFFECTED WINDOWS SYSTEMS AROUND THE WORLD AND CHAOS ENSUED. ED: WINDOWS IS THE OS BY MICROSOFT. SEPARATELY THERE WAS AN AZURE OUTAGE.
THIS IS THE LATEST. APPS, NORMAL SERVICES HAVE RECOVERED. THERE ARE ONGOING ISSUES. THE DREADED BLUE SCREEN.
WHAT'S INTERESTING IS HOW WIDESPREAD INDUSTRIES WERE HIT. WHAT'S COVERAGE TELLING US ABOUT THE GLOBAL NATURE OF THE DISRUPTION? TOM: BANKS, UPS, DELIVERIES, FLIGHTS AROUND THE WORLD. THIS SHOWS THE FRAGILITY OF OUR GLOBAL SYSTEMS SO RELIANT UPON SINGLE VENDORS AND ONE PATCH CAN SEND THINGS AWRY. WHEN YOU COMBINE THAT WITH THE UBIQUITY OF WINDOWS MACHINES, THEY RUN SOMETHING TO THE TUNE OF 70% OF THE COMPUTERS AROUND THE WORLD. ON TOP OF THAT, YOU ADD AZURE, THIS CLOUD COMPUTING SYSTEM THAT MANY BUSINESSES RELY UPON FOR THEIR SYSTEMS. THIS REALLY PUT TOGETHER A TOXIC COCKTAIL OF I.T. OUTAGES EVERYWHERE.
IT SHOWS HOW VULNERABLE THE SYSTEMS ARE TWO SINGLE VENDORS. -- TO SINGLE VENDORS. ED: TOM GILES, LATER IN THE SHOW I PROMISE WE WILL GET DEEPER ON WHAT ENDPOINT SECURITY IS. WE HAVE A BRILLIANT TECHNICAL GUEST. LET'S TALK ABOUT THE
MARKET REACTION, JORDAN KLEIN. MY GOODNESS YOUR PHONE MUST HAVE BEEN RINGING OFF THE HOOK THIS MORNING. WHAT HAVE INVESTORS BEEN TELLING YOU ABOUT THEIR CONCERN OR LACK OF CONCERN? JORDAN: CLEARLY PEOPLE REACTING THIS WAY BECAUSE CROWDSTRIKE IS ONE OF THE MOST OWNED AND LIKED COMPANIES IN THE SOFTWARE SECTOR. 40% THIS YEAR UP. VERY FEW COMPANIES IN SOFTWARE ARE UP THAT MUCH. WHEN YOU HAVE ONE OF THESE EVENTS, WHICH THANKFULLY WAS NOT A HACK. IT WAS AN OUTAGE. THERE'S A HUGE DIFFERENCE REPUTATIONAL HE FOR THE COMPANY. WHEN YOU HAVE TWO WEEKS LEFT IN
YOUR QUARTER, A JULY ENDING SECOND QUARTER, IT MAKES PEOPLE NERVOUS ANY DISRUPTION OR PROBLEMS CLOSING BUSINESS WITH NEW CUSTOMERS TO MAKE THEIR ESTIMATES FOR GUIDANCE, COULD BE AT RISK. RIGHT NOW WE ARE IN A POSITION WHERE INVESTORS ARE LOOKING FOR REASONS TO SELL TECH AND ROTATE INTO OTHER LIGHTING AREAS. I THINK THEY ARE USING THIS TO TAKE RISK OFF AND NOT WORRY WHETHER THIS IMPACTS THEIR QUARTER. ED: I DON'T KNOW HOW WELL VERSED YOU ARE IN THE MARKET FOR ENDPOINT SECURITY BUT THE DATA SHOWS CROWDSTRIKE HAS 1/5 OF THE MARKET. IRONICALLY, THE NUMBER TWO IN THAT MARKET IS MICROSOFT. BOTH OF THEM UNDER PRESSURE.
HOW DO YOU PLAY? JORDAN: GOOD QUESTION. I DON'T THINK YOU PLAY THAT IN THE VIEW THAT ONE WILL LOSE ABOUT THE SHARE OR BOTH WILL. BECAUSE IT'S AN OUTAGE, AND NOT A HACK, THAT SUGGESTS YOU ARE NOT GOING TO SEE CUSTOMERS MOVING OFF OF CROWDSTRIKE OR MICROSOFT. SOME PEOPLE ARE BIDDING UP SHARES OF SENTINEL ONE, WHICH COMPETES WITH CROWDSTRIKE. I DON'T KNOW WHERE THEY RANK IN THE TOP MARKET SHARE LISTINGS.
PALO ALTO IS ANOTHER COMPETITOR. THEY DON'T NECESSARILY DO ALL ENDPOINT BUT THEY DO FIREWALLS AND CLOUD SECURITY. THAT STOCK IS GAINING. PEOPLE ASSUME THEY WILL BENEFIT. AT THE END OF THE DAY, WAIT-AND-SEE ON THE RAMIFICATIONS. I WOULD ADVISE INVESTORS -- DON'T MAKE ANY SNAP KNEE-JERK REACTIONS IN TERMS OF BUYING/SELLING. I AM MORE OF A NET BUYER ON
THIS WEAKNESS AS RELATES TO CROWDSTRIKE. THEY WILL COME THROUGH FINE IN A COUPLE WEEKS, PEOPLE WON'T EVEN BE TALKING ABOUT THIS. CAROLINE: THIS IS A BIG MARKET CAP IMPACT. YOU BRING UP, ARE THEY ON THE HOOK FINANCIALLY IN ANY WAY? HOW WILL WE UNDERSTAND THAT FROM CROWDSTRIKE AS TO WHETHER OR NOT THEIR OWN CLIENTS PUT OFF RENEWING OR SAY LOOK WE LOST A LOT OF BUSINESS HERE -- WHERE'S THE MONEY? JORDAN: GREAT QUESTION.
I'VE TALKED TO SOME PEOPLE. WE PUT OUT A RESEARCH UPDATE. I THINK WHAT'S GOING TO HAPPEN IS YOU ARE NOT GOING TO HEAR ANYTHING UNTIL THEY REPORT THEIR QUARTER. THAT WON'T COME UNTIL AFTER THE END OF JULY. IT COULD BE A MONTH UNTIL YOU DON'T GET THE OFFICIAL UPDATE AS TO WHAT THEY ARE LIABLE FOR, IF ANYTHING. WE DON'T THINK THEIR CONTRACTS ARE WRITTEN SUCH THAT THEY WILL HAVE TO BASICALLY PAY COMPANIES FOR LOST BUSINESS/REVENUE. WHAT'S PROBABLY GOING TO HAPPEN IS TO APPEASE COMPANIES THAT WERE DISRUPTED, THEY WILL GIVE CREDITS. MEETING, YOU ARE UNDER
CONTRACT, YOU OWE US MONEY BUT WE WILL GIVE YOU A CREDIT FOR BUSINESS YOU OWE US UNDER THE CONTRACT. IT'S BASICALLY A DISCOUNT. HOW MUCH? WE DON'T KNOW. AS SOON AS THEY QUANTIFY THAT, THE MARKETS WILL LIKE THE CLARITY AND THEY WILL BE MORE POSITIVELY DISPOSED ONCE THEY QUANTIFY THE IMPACT. I WOULDN'T IMAGINE IT WILL BE A MASSIVE AMOUNT. CAROLINE: TO THAT POINT, WHEN YOU'VE GOT A $6 BILLION MOVE ON A MARKET CAP, MAYBE YOU CAN BUY INTO SOME OF THIS WEAKNESS. HOW MANY PEOPLE DO YOU THINK IN
THIS ENVIRONMENT ARE JITTERY AND WILLING TO GO ALONG INTO A WEEKEND SUCH AS THIS? JORDAN: WE WILL FIND OUT AS THE MARKET GOES TO THE AFTERNOON. INITIALLY, IT'S 11:00 EASTERN, I'M ENCOURAGED BY THE WAY THE STOCK IS ACTING GIVEN IT IS WELL OFF THE LOWS. IF PEOPLE WERE IN PANIC AND THE MARKET WAS MELTING, I THINK IT WOULD BE AT THE LOWS. IT'S NOT. I WOULDN'T BE SURPRISED IF IT CONTINUES TO GRIND HIGHER.
THE SENTIMENT IN TECH BROADLY IS PEOPLE ARE NERVOUS THE SECTOR IS NOT ACTING WELL. IT'S NERVE-RACKING AS WE WAIT FOR EARNINGS. MOST INVESTORS WILL TAKE A WAIT AND SEE. VOLUMES ON THE TRADING DESK
DON'T SUGGEST PANIC. IT DOESN'T SUGGEST YOU ARE SEEING WAVES OF BUYERS COMING IN AFTER DAYS OF WEAKNESS EITHER. CAROLINE: JORDAN KLEIN, THANK YOU. LET'S TALK ABOUT MARK ZUCKERBERG, WEIGHING IN ON THE CURRENT ELECTION LANDSCAPE. EMILY CHANG, TAKE A LISTEN.
MARK: THE MAIN THING I HEAR IS THEY WANT TO SEE LESS POLITICAL CONTENT ON OUR SERVICES BECAUSE THEY COME TO US TO CONNECT WITH PEOPLE. THAT'S WHAT WE WILL DO. WE GIVE PEOPLE CONTROL OVER THIS BUT WE ARE GENERALLY TRYING TO RECOMMEND LESS POLITICAL CONTENT. I THINK YOU WILL SEE OUR SERVICES PLAY LESS OF A ROLE IN THIS ELECTION THEN THEY HAVE IN THE PAST. CAROLINE: WATCH THIS ELUSIVE INTERVIEW ON THE CIRCUIT WITH EMILY CHANG, TUESDAY, JULY 23, FOUR STREAM IT. COMING UP, LAURA MARTIN BREAKS DOWN THE SECOND QUARTER RESULTS.
♪ >> IN TERMS OF MEMBER GROWTH, THE OUTSIZED QUARTER WAS DRIVEN BY STRONGER ACQUISITION BUT ALSO CONTINUED HEALTHY RETENTION IN THE QUARTER ACROSS ALL REGIONS. ED: THE NETFLIX CFO TALKING ABOUT THEIR MEMBER SUBSCRIBER GROWTH AND RETENTION. GOOD SUBSCRIBER NUMBERS, CONCERNING GUIDANCE. WHICH IS MORE IMPORTANT FOR YOU? LAURA: THEY OVER DELIVERED, ADDING 8 MILLION SUBSCRIBERS.
THEY HAD AN ANEMIC SUBSCRIBER GROWTH NUMBER FOR THE THIRD QUARTER AND TALKED ABOUT A TOUGHER SECOND HALF. SUBSCRIBERS MATTER A LOT BUT NOT OVERALL. THE LOCATION OF THE SUBSCRIBERS IS SUBOPTIMAL. THEY ARE ADDING SUBSCRIBERS IN THE LOWEST AVERAGE REVENUE PER USER. WALL STREET DOESN'T LIKE THAT.
THE BIGGEST PROBLEM IS THEY WILL STOP GIVING SUBSCRIBER GUIDANCE IN THE FIRST QUARTER NEXT YEAR. THEY JUST WANT TO TALK REVENUE. THAT'S A BIG PROBLEM. IT WILL ADD VOLATILITY TO THE STOCK. ED: THEY TALKED ABOUT STRENGTH IN ASIA-PACIFIC, CURRENCY IMPACTS IN ARGENTINA. IF YOU ARE COVERING THE STOCK,
WHERE YOU WANT TO SEE SUBSCRIBER GROWTH? LAUREN: YOU WANT TO SEE THEM ALL. THEY PAY TWICE AS MUCH IN AMERICA. CAROLINE: YOU WANT MORE EXPENSIVE MONEY BEING TAKEN FROM THE MORE EXPENSIVE CLIENTELE. ARE WE SATURATED? WE ARE STILL TRYING TO DISCERN WHICH SERVICE I SHOULD BE USING? LAURA: I THINK THE REASON THEIR TURN IS FALLING IS LIVE. WHEN THEY DO LIVE FIGHTS AND ROASTS AND EXCLUSIVE LIVE PROGRAMMING, IT KEEPS PEOPLE PAYING FOR THE NEXT MONTH. THEY REALLY MARKET THESE THINGS. I THINK THEIR VIDEOGAME IS
TROUBLED. LIVE IS AN INTERESTING GENRE FOR NETFLIX. CAROLINE: THEY NEED TO BE INVESTING BASICALLY. THAT TAKES A HERCULEAN EFFORT FROM A TECHNOLOGICAL PERSPECTIVE. LAURA: THEY ARE PAYING FOR NFL GAMES. THEY ARE JOINING THE ARMS RACE IN EXPENSIVE LIVE SPORTS PROGRAMMING. THAT'S GREAT FOR YOUR CONTENT BUDGET TO LOOK AHEAD. CAROLINE: WE COULD GO ON AND ON ABOUT
THIS. WE DIDN'T EVEN GET TO THE DISCUSSION AROUND THE MNA AS WELL -- M&A. WE WANT TO TURN OUR ATTENTION TO OTHER EARNINGS TODAY.
AMERICAN EXPRESS, THE STOCK HAS TAKEN A BUMPY RIDE TODAY. THE COMPANY SEES FISCAL EARNINGS-PER-SHARE STRONG BUT IS WARNING IT PLANS TO INCREASE THE SPENDING ON MARKETING IN THE COMING MONTHS. THEY ARE COMMITTED TO MARKETING, TO TECH INVESTMENTS, PARTICULARLY AI AT THE MOMENT. THIS COMPANY HAS HAD RECORD REVENUE OVERALL. THE MARKET IS QUESTIONING HOW THEY CONTINUE TO BE BEEFING UP ON THE PROFITABILITY SIDE. ALSO AN IMPACT ON THE CROWDSTRIKE OUTAGE -- SAYING " ALL AIRPORTS WERE IMPACTED, PEOPLE TRIED TO CHANGE THEIR FLIGHTS."
THE CEO TELLING A SET THE MOMENT, STILL PRETTY CONFIDENT. ED: THE EINSTEIN SERVICE AGENT, THE FIRST FREE AUTONOMOUS AI AGENT FOR CUSTOMERS. THIS IS BLOOMBERG TECHNOLOGY.
CAROLINE: THE GROWING FIELD OF AI. SALESFORCE ANNOUNCING THE EINSTEIN SERVICE AGENT, A FULLY AUTONOMOUS AI AGENT LOOKING TO TRANSFORM CUSTOMER SERVICE JOBS. CLARA, HOW CAN YOU QUANTIFY THE DIFFERENCE OF A NORMAL CHATBOT HERE -- HOW MUCH BETTER IS THIS AGENT YOU ARE OFFERING? CLARA: WE'VE ALL INTERACTED WITH CUSTOMER SUPPORT CHATBOTS. WHAT THEY CAN DO IS LIMITED. IT'S ALWAYS OBVIOUS YOU ARE
TALKING WITH A BOT. EINSTEIN IS OUR NEW OFFERING THAT REDEFINES THE SELF-SERVICE EXPERIENCE. IT FEELS LIKE YOU ARE CHATTING WITH A HUMAN EXPERT THAT CAN ANSWER COMPLEX QUESTIONS AND TAKE COMPLICATED ACTIONS. FOR EXAMPLE, LOOKING UP IN ORDER, REVIEWING A PHOTO OF A DAMAGED PRODUCT, ISSUING A RETURN SHIPPING LABEL, SENDING A REPLACEMENT, ALL ON A SECURE AND TRUSTED WAY BECAUSE EINSTEIN IS GROUNDED IN YOUR COMPANY'S TRUSTED DATA, POLICIES AND PROCEDURES IN YOUR SALESFORCE SIERRA. CAROLINE: THERE'S A MULTIMODAL ELEMENT TO THIS.
HOW MUCH HAVE YOU BEEN BUILDING THE MODEL YOURSELF? WHERE DOES THIS COME FROM? CLARA: WE'VE BEEN DEVELOPING LARGE LANGUAGE MODELS SINCE '18. META-MIND, THAT BEING SAID, WE BELIEVE IN OPEN ARCHITECTURE. WE WANT TO GIVE CUSTOMERS CHOICE WHEN IT COMES TO AI MODELS. WE RECENTLY LAUNCHED OUR CRM LEADERBOARD, THE FIRST LLM LEADERBOARD FOR SALES, SERVICE, MARKETING AND COMMERCE. SMALL MODELS, IN SOME CASES, OPEN-SOURCE MODELS OUTPERFORMED THE BIGGEST MOST EXPENSIVE MODELS ON THE MARKET WHEN IT COMES TO ENTERPRISE TASKS. THE LEADERBOARD IS CONSTANTLY
CHANGING WEEK OVER WEEK. WE FEEL IT IS IMPORTANT TO SUPPORT A VIBRANT ECOSYSTEM OF MODELS. ED: GOOD MORNING. OUR LEAD STORY IS THE GLOBAL OUTAGE, CROWDSTRIKE, MICROSOFT, 365 INTEGRATION WITH SALESFORCE PLATFORMS AND OFFERINGS.
AI IN CLOUD, WHAT HAS THE IMPACT BEEN ON YOU AND WHAT HAS THE RESPONSE BEEN? CLARA: I HAVE A NUMBER OF FRIENDS STUCK IN THE AIRPORT NOW. EVERY INDUSTRY AROUND THE WORLD AFFECTED, SALESFORCE INCLUDED. OUR ENGINEERS ARE WORKING WITH A CROWDSTRIKE TEAM AROUND-THE-CLOCK TO RESTORE FULL ACCESS TO SERVICES. ED: YOU'VE LONG BEEN IN TECH. HOW DOES THIS EVENT RANK IN TECHNOLOGICAL OUTAGES YOU'VE SEEN IN YOUR CAREER? CLARA: IT'S INEVITABILITY WHEN IT COMES TO TECH. IT UNDERSCORES THE IMPORTANCE OF WORKING WITH TRUSTED PARTNERS. TRUST IS OUR NUMBER ONE VALUE.
WE PRIDE OURSELVES IN UPTIME PARTNERING WITH CUSTOMERS, AIR INDIA, AAA, OPENTABLE -- THESE COMPANIES HELP RUN THE WORLD. WE TAKE THAT PERFORMANCE SERIOUSLY. CAROLINE: QUITE A FEW FRIENDS OF YOURS AT AIRPORTS, MANY OTHERS TRYING TO GET HOLD OF A REAL PERSON RIGHT NOW ON THE PHONE RATHER THAN A CHATBOT. I'M WONDERING HOW LONG THAT WILL BE INEVITABLE? YOU IN MANY WAYS TRANSFER CONVERSATIONS FROM THIS AI AGENT TO HUMAN IF IT GETS OUT OF THE CAPABILITY OF THE AGENT. HOW OFTEN IS THAT LIKELY TO
HAPPEN? CLARA: DEPENDS ON THE NATURE OF HOW MUCH KNOWLEDGE AND TRUSTED POLICIES/PROCEDURES THE COMPANIES HAVE DOCUMENTED INSIDE THEIR ORGANIZATION. IF THEY DON'T HAVE MUCH, WE WILL HELP THEM WITH THAT AI DRAFTED KNOWLEDGE CREATION. BY LARGE WE WILL SEE MORE, JUST LIKE WHEN TALKING TO A BOT OR CHATGPT, SOMETIMES IT IS HARD TO TELL IT IS NOT A HUMAN. THE CHALLENGE IS WITHOUT THAT CONTEXTUAL DATA AND GUARDRAILS, THESE LLM'S CAN HALLUCINATE. THAT'S WHERE SALESFORCE'S EINSTEIN TRUST LAYER, THAT'S THE LAYER EVERY AI INTERACTION GOES THROUGH BEFORE IT GETS PRESENTED TO A CUSTOMER. THAT'S IMPORTANT, TO MAKE SURE IT IS TRUSTED, RELIABLE AND ACCURATE. ED:
OUR AUDIENCE HAS FOLLOWED THE ROLLOUT OF WHAT EINSTEIN IS DOING AND WHAT SALESFORCE HAS DONE QUITE CLOSELY. YOU MUST BENCHMARK AGAINST SIMILAR PLATFORMS. WHAT HAVE YOU LEARNED ABOUT PERFORMANCE AGAINST WHAT ELSE IS OUT THERE? CLARA: FREE QUESTION. IT IS SOMETHING WE ARE CONSTANTLY BENCHMARKING. OUR CRM MODEL LEADERBOARD, WE
FOUND THERE ARE THREE CRITICAL INGREDIENTS TO SUCCESS WHEN THERE A -- WHEN IT COMES TO ENTERPRISE AI. ETHICAL GUARDRAILS AND DATA SECURITY. EVERYTHING FROM CITATIONS, TO AUDIT TRAILS, OBSERVABILITY MONITORING AND DATA MASKING. THE SECOND INGREDIENT IS HAVING THE RIGHT CONTEXT. IF YOU DON'T GIVE THE LLM
ENOUGH CONTEXT, IT WILL MAKE THINGS UP. OUR CUSTOMERS HAVE BEEN PUTTING TRUSTED DATA AND BUSINESS PROCESSES, POLICIES AND PROCEDURES INTO SALESFORCE FOR THE LAST 25 YEARS. WITH THE INTRODUCTION OF OUR DATA CLOUD PRODUCT, WE HAVE THAT TRUSTED DATA ACROSS THE ENTIRE ENTERPRISE OF SIDELOAD SYSTEMS. THAT CONTEXT IS CRITICAL TO ACCURACY, RELIABILITY AND THE USEFULNESS OF AI. THE THIRD INGREDIENT IS EMPOWERMENT, HELPING BRING EVERY EMPLOYEE AT AN ORGANIZATION ALONG FOR THIS AI LEARNING JOURNEY, WHICH IS NEVER-ENDING. I'M PROUD OF THE WORK WE HAVE DONE WITH TRAILHEAD.
WE HAVE OPEN SOURCED THE COURSES WE DEVELOP FOR OUR INTERNAL EMPLOYEES TO GET SMART ON AI. ED: GREAT TO HAVE YOU BACK ON THE SHOW. COMING UP BACK TO THAT MASSIVE >> WELCOME BACK TO "BLOOMBERGTECHNOLOGY." I’M CAROLINE HIDE IN NEW YORK. >> AND I’M ED LUDLOW IN SAN FRANCISCO.
IT’S RED ON THE SCREEN IN A NEGATIVE VIBE. THE GLOBAL I.T. OUTAGE TRYING TO DEAL WITH THE DREADED BLUE SCREEN. CROWDSTRIKE IS DOWN 8.5%.
OFF SESSION LOWS. A POINT THAT JORDAN KLEIN OF MISSOURI MADE EARLIER IS THAT IN TERMS OF VOLUMES TRADING, THIS DOESN’T SUGGEST PANIC SELLING. WINDOWS IS A MICROSOFT PRODUCT BUT SEPARATELY FOR THE OUTAGE, THERE WAS SOME ISSUE WITH AZURE WHICH THEY RESOLVED FOR THE TIMING. CAROLINE: WE WERE JUST HAVING JOHN KLINE SAYING -- JORDAN KLEIN SAYING BUY IN THAN SELLOUT.
>> THIS IS GOING TO LINGER ON FOR A WHILE, ESPECIALLY BECAUSE OF RECOVERY IS NOT AS EASY AS JUST ROLLING BACK THE SOFTWARE. THERE ARE A NUMBER OF CLIENTS WHO ARE AT A OLDER WINDOW AND THAT’S THE BIGGEST RISK WITH CLOUD SOLVED WARE AND IT CAN HAVE A FAR REACHING IMPACT. IN THIS CASE, AS WE CAN SEE NERVES RECOVERY ISN’T, YOU KNOW, IN A MINUTE OR IN AN HOUR. AND THE FACT THAT MICROSOFT IS INVOLVED, THEY ARE THE BIGGEST RIVALS WHO TAKES THE BLAME? I IMAGINE THERE WILL BE LAWSUITS, THERE WILL BE CUSTOMERS ASKING FOR INDEMNIFICATION BECAUSE OF THE LOST BUSINESS AND WHO PAYS WHO? CROWDSTRIKE WILL HAVE TO GIVE A LOT OF DISCOUNTS FOR THEIR CUSTOMERS SE CREDITS SO I’M JUST NOT READY TO WRITE IT OFF AS AN INCIDENT THAT HAPPENED AND MOVE ON. ED: THE IBC DATA PUTS CROWDSTRIKE AS HOLDING ONE FIFTH OF THE ENDPOINT SECURITY MARKET. BASIC QUESTION IS WHETHER THIS HURTS THEIR BOOKINGS. IF THEIR WOULD-BE CUSTOMERS
THAT SAY NAH, I’M NOT GOING TO GO INTO CROWDSTRIKE. WHAT DO YOU THINK? >> THINK OF THE END POINT SECURITIES BASED ON THE ENTERPRISE SIDE. IT’S FOUR COMPANIES THAT DOMINATE. CROWDSTRIKE AND MICROSOFT. AND THEN YOU HAVE SENTINEL ONE WHICH GOOGLE IS RUMORED TO EXPRESS INTEREST IN. YOU DON’T HAVE A LOT OF CHOICES TO GO TO BUT I EXPECT CUSTOMERS ASKING CROWDSTRIKE MORE QUESTIONS AND THAT ALSO BRINGS INTO QUESTION THE CONCEPT AROUND AGENTLESS AND THERE WILL BE A GROWING PREFERENCE TOWARDS AGENTLESS SECURITY WHERE IT DOESN’T CHANGE THE BEHAVIOR. I STILL THINK THAT IT’S GOING TO HURT CROWDSTRIKE IN THE NEAR TERM. ED: BUSY MORNING FOR YOU, MANDEEP.
THANK YOU VERY MUCH. LET’S KEEP THE CONVERSATION GOING. LET’S GET TECHNICAL AND LET’S GET SOME EXPERTISE WITH STEVE GROBAN, EXECUTIVE VICE PRESIDENT AND CHIEF TECHNOLOGY OFFICER AT MCAFEE.
STEVE, JUST FOR OUR AUDIENCE SAKE, CROWDSTRIKE FOUNDED 2012 BY ALUMNI ESSENTIALLY, THE CURRENT FORM OF YOUR BUSINESS THAT HAS A COMPLICATED HISTORY OF ITS OWN. TO START, HAS ANYONE FROM CROWDSTRIKE PHONED YOU OR ASKED YOU GUYS FOR HELP OR ADVICE ON WHAT’S GOING ON? STEVE: I KNOW THE CYBERSECURITY INDUSTRY IS A CLOSE-KNIT BUNCH. THEY’RE RUNNING THE RESPONSE ON THIS. WE’RE REALLY FOCUSED ON MAKING SURE THAT OUR CUSTOMERS ARE WELL INFORMED, YOU KNOW, MCAFEE IS NOW A PURE PLAY CONSUMER COMPANY WHERE WE’RE PROTECTING CONSUMERS AND WE’RE MAKING SURE THAT THEY UNDERSTAND THAT EVEN THOUGH THEIR DEVICES ARE PROTECTED BY MCAFEE, THEY’RE USING SERVICES FROM ORGANIZATIONS OR BUSINESSES THAT DEPEND ON CROWDSTRIKE AND WERE IMPACTED BY THIS EVENT THAT THEY MIGHT SEE THINGS LIKE BANKS OR TRANSPORTATION HAVING DEGRADED SERVICES AND THAT’S WHERE WE’RE TRYING TO PLAY A ROLE HERE IS TO HELP OUR CUSTOMERS THE INDUSTRY NAVIGATE THIS. ED:
A FEW PEOPLE IN THE INDUSTRY SHARED WITH ME AN E-MAIL THAT CROWDSTRIKE SUPPORT SAID REBOOT UP TO 15 TIMES AND THAT SHOULD DO THE TRICK. WHAT DO YOU MAKE OF THAT? STEVE: WHEN THERE ARE ISSUES PUTTING PROCEDURES BACK IN BUSINESS CAN HAVE MANY DIFFERENT FORMS. ONE OF TO THE THINGS THAT I CAUTION IS MY UNDERSTANDING IN THIS PARTICULAR CASE, THERE ARE A WIDE RANGE OF SITUATIONS THAT IN ORGANIZATION MIGHT BE IN WITH THE WIDE RANGE OF RECOVERY PROCEDURES. THE ONE THAT YOU’RE OUTLINING,
IT’S CERTAINLY PLAUSIBLE. THAT IS ONE OF THE SCENARIOS, BUT WHAT I WOULD SAY IS, YOU KNOW, WE AS AN INDUSTRY WILL LEARN FROM THIS. WE ALWAYS DO IF I REFLECT BACK BACK, BACK TO 2017. COMING OUT OF THAT, WE CHANGED THE WAY THAT WE SECURED POUR NETWORKS WE CHANGED THE WAY THAT WE SECURED OUR ENVIRONMENTS AND WE LEARNED. YOU KNOW, BACK INTO THE 1990’S WHEN WE HAD SOME OF THE BIG WORMS, WE LEARNED. SO IT’S GOING TO HAPPEN AGAIN.
I’D REALLY STRESS THAT CYBERSECURITY DEFENSE IS A VERY DIFFERENT INDUSTRY THAN MOST OTHER TECHNOLOGY IN THAT BAD ACTORS ARE INNOVATING EVERY SINGLE DAY, TRADING NEW ATTACKS EVERY SINGLE DAY AND MAKING IT SUCH THAT IN ORDER TO DEFEND ENVIRONMENTS, WHETHER IT’S MCAFEE DEFENDING CONSUMERS OR CROWDSTRIKE DEFENDING ENTERPRISES REQUIRES A VERY RAPID DEPLOYMENT OF NEW TECHNOLOGY TO STAY ONE STEP AHEAD OF THOSE BAD ACTORS. CAROLINE: RIGHT. STEVE: SO WHILE WE’RE GOING TO ABSOLUTELY LEARN FROM THIS, I DO THINK IT’S IMPORTANT THAT PART OF IT IS DUE TO THE NATURE OF THE BUSINESS. CAROLINE: SO BASICALLY, GET USED TO IT IS BASICALLY WHAT YOU’RE TELLING US, STEVE. THIS IS INEVITABLE.
HOW OFTEN IS THIS GOING TO HAPPEN TO US? STEVE: THERE ARE SOME UNIQUE CHARACTERISTICS. IF WE’RE GOING TO DRIVE CARS AT 70 MILES PER HOUR ON ROADS LIKE WE KNOW THAT PEOPLE ARE GOING TO GET INJURED AND THAT DOESN’T MEAN THAT WE SHOULDN’T FOCUS ON AUTOSAFETY. I THINK WE’RE IN THE EXACT SAME WORLD.
HERE, THEIR TECHNOLOGY LIKE A.I., THE BAD ACTORS ARE USING TO CREATE MORE AND MORE LETHAL ATTACKS AND THE CYBERDEFENSE INDUSTRY IS GOING TO RAPID I WILL BE RELEASING NEW CAPABILITIES TO MITIGATE THOSE. PART OF THAT MEANS WE’RE MOVING VERY QUICKLY AND WE NEED TO LEARN HOW TO LEARN THAT WITH THE MINIMAL RISK POSSIBLE OF INTRODUCING TECHNOLOGY DEFECTS THAT CAUSE THE ISSUE THAT WE SAW LIKE THAT WE SAW TODAY. BUT I WOULD BE CAREFUL TO PREDICT THAT THIS IS INEVITABLE.
CAROLINE: OK, THEN HOW COULD WE HAVE DONE THIS DIFFERENTLY? WHAT DO YOU THINK THE LEARNS BE ABOUT HOW WITH SPEED YOU CAN UPDATE AND BETTER SECURITY WITHOUT TAKING DOWN GLOBAL INDUSTRY? STEVE: EVEN IF YOU’RE MOVING FAST DOESN’T MEAN THAT YOU HAVE TO DO EVERYTHING ALL AT ONCE. WHEN ORGANIZATIONS ROLL OUT PROTECTION DOING IT IN A PHASE FASHION, I KNOW THAT’S GENERALLY THE BEST KNOWN PRACTICE BUT SOME OF THE UNDERLYING DETAILS OF EXACTLY HOW THAT’S DONE, THOSE ARE THINGS THAT THE INDUSTRY’S GOING TO LEARN, POLISH, YOU KNOW, CREATE SOME NEW PROCEDURES. I DO THINK IT’S IMPORTANT THAT WE DON’T OVERREACT TO THIS WHERE IF WE START PUTTING TOO MANY CONTROLS ON THE ABILITY TO RAPIDLY MITIGATE DEFENSES AND ATTACKS, WE COULD BE IN A MUCH WORSE SITUATION. SO, ON A POSITIVE SIDE, WE
UNDERSTAND THIS ISSUE VERY WELL. WE UNDERSTAND THE GUIDANCE THAT ORGANIZATIONS CAN HAVE TO GET BACK IN BUSINESS. AND WE ALSO UNDERSTAND EVEN SOME OF THE RESIDUAL IMPACTS. ONE OF THE THINGS THAT MCAFEE IS SEEING IS SCAMMERS ARE TAKING ADVANTAGE OF THE NEW CYCLE TO TRY TO SCAM CONSUMERS. WE’RE GETTING CALLS FROM OUR HELP CENTER WHERE WE’RE GETTING REPORTS FROM PEOPLE PRETENDING TO BE THEIR BANK TRYING TO TRICK THEM INTO GIVING THEM A PASSWORD OR OTHER SENSITIVE DATA. LIKE IT’S EVEN THOSE ANGLES THAT WE NEED TO EDUCATE THE WORLD THAT IN A COMPLEX DIGITAL WORLD, WE REALLY NEED TO BE ON OUR GUARD ACROSS THE SPECTRUM.
CAROLINE: STEVE, THANKS FOR THE PERSPECTIVE. COMING UP, WE’RE GOING TO BE TALKING ABOUT A DISCUSSION ON ARTIFICIAL INTELLIGENCE ON CONTENT CREATION. THIS IS "BLOOMBERG TECHNOLOGY." WELL AS APPLE, SPOTIFY A AND I-HEART. THIS IS BLOOMBERG. ♪ >> I THINK THAT A.I. IS A GREAT -- IS GOING TO GENERATE A GREAT SET OF CREATOR TOOLS AFTER GREAT WAY FOR CREATORS TO TELL BETTER STORIES.
AND ONE THING IF YOU LOOKED BACK OVER 100 YEARS OF ENTERTAINMENT, YOU CAN SEE HOW GREAT TECHNOLOGY AND GREAT ENTERTAINMENT WORK HAND-IN-HAND TO BUILD GREAT BIG BUSINESSES. CAROLINE: HIS TAKE ON HOW IT’S CHANGING UP THE STREAMING INDUSTRY. LOTS TO DISCUSS THERE. LET’S BRING IN LIZZIE FRANCIS, PARTNER OF M13. I’M PRETTY SURE YOU’VE BEEN FOCUSED MORE ON HOW CONTENT IS BEING DISRUPTED. HOW DOES YOUR PORTFOLIO COME COMPANIES REFLECT THAT? WHAT DO YOU THINK A.I.’S GOING
TO MAKE THE BIGGEST DIFFERENCE? LIZZIE: WE SEE THIS PARADIGM SHIFT IS HAPPENING TODAY AND IT’S HAPPENING QUICKLY AND WITH GREAT SPEED. SO WHAT WE’RE SEEING IS IT’S FOCUSED MOSTLY ON PRODUCTIVITY AND HOW WE CAN ACTUALLY SEE PRODUCTIVITY IMPROVEMENTS ACROSS ALL SECTORS. WE’VE TAKEN AN APPROACH WHERE WE ARE INVESTING IN AREAS THAT ARE REALLY CHANGING, UNDERLYING INFRASTRUCTURE IN PHENOMENAL WAYS. WE RECENTLY INVESTED IN A COMPANY CALLED MAVEN AGI WHICH IS NOW SERVICING OVER 90% OF INBOUND CUSTOMER SERVICE FOR COMPANIES LIKE TRIP ADVISOR AND ROE AND IT’S NOT JUST THE PRODUCTIVITY BUT AS M13 THINKS ABOUT THE FUTURE OF A.I., IT’S REALLY ABOUT THIS PARADIGM SHIFT TO HAVE CUSTOMER, PERSONALIZATION. REALLY THINKING ABOUT HOW WE CAN THINK ABOUT CREATING A BETTER CUSTOMER EXPERIENCE TIME AND TIME AGAIN. SO IT’S NOT ABOUT THAT PASSIVE
CUSTOMER SERVICE. IT’S ALSO ABOUT CREATING THESE SURPRISE AND DELIGHT MOMENTS FOR CUSTOMERS. IT’S SURPRISING THEM IN PLACE LIKE BANKING WITH HI, HOW COULD I HELP YOU TODAY? NOT JUST ON LOSING YOUR DEBIT CARD BUT DO YOU NEED HELP FINDING A LOAN, RIGHT? OR HOW CAN I SCHEDULE A NEW FLIGHT TODAY GIVEN EVERYTHING THAT’S HAPPENING THAT WE’RE SEEING? SO IT’S NOT JUST ABOUT PRODUCTIVITY, BUT AGAIN, IT’S REALLY ABOUT THE DEEP FOCUS ON PERSONAL ACCUSATION AND -- PERSONALIZATION AND CONSUMER EXPERIENCE. ED: SO M13 STILL HAS TO MAKE THE
DISCERNING CALCULATIONS ON WHERE TO PUT MONEY. $400 MILLION FUND THREE. THAT’S SIZABLE. IS THERE A HIGH VOLUME OPPORTUNITY OR IS IT COMPETITIVE? LIKE MECHANICALLY, EVERYTHING THAT YOU JUST TOLD US, HOW DO YOU PUT THAT INTO PRACTICE EACH DAY? LIZZIE: YEAH, IT’S A THOUGHTFUL POINT, ED. AND BECAUSE WE’RE AT THIS PARADIGM SHIFT, ONE OF THE THINGS THAT WE’RE MOST EXCITED ABOUT IS THAT THERE IS QUITE A BETTER VENTURE DOLLARS FLOWING INTO THE ECOSYSTEM TO PROPEL THIS KIND OF INNOVATION. IF YOU LOOK HOLISTICALLY ACROSS THE BOARD ABOUT 50% OF DOLLARS ARE GOING TO A.I.
WHEN WE THINK ABOUT WHERE WE PUT OUR DOLLARS, WE STILL THINK ABOUT SOUND BUSINESS FUNDAMENTALS. AND SO ACROSS THE FOUR AREAS THAT WE INVEST IN, HEALTH, MONEY, FINANCE AND CONSUMER, WHAT REALLY MATTERS AT THE END OF THE DAY IS WHEN IT COME IT IS A POWER THAT IS POWERED BY A.I. OR IS A.I.-NATIVE THAT HAS TO CREATE A VENTURE CAPITAL FOR US TO BE EXCITED ABOUT. YOU’RE RIGHT THAT IT IS A COMPETITIVE MARKET OUT THERE BUT BECAUSE WE’RE SEEING THAT, PEOPLE ARE ABLE TO INNOVATE SO QUICKLY WITH A.I. AND LEVERAGE THIS TECHNOLOGY IN EXCITING WAYS, WE’RE SEEING WHAT WE HOPED A.I. WOULD DO AT CORE, WHICH IS
UNLOCK CREATIVITY, UNLOCK INNOVATION AND GIVE ENTREPRENEURS THE POWER TO ACTUALLY BUILD BUSINESSES THAT ARE EXCITING AND TRANSFORMATIVE. WE ACTUALLY HAVE INVESTED ON THE HEALTH CARE SIDE IN A COMPANY CALLED CARE IT’S NOICS WHICH IS HELPING DOCTORS AND CLINICIANS DIAGNOSE AHEAD OF TIME CHRONIC CONDITIONS IN PATIENTS. NOW YOU CAN SEE THAT DOCTORS AND CLINICIANS CAN PROVIDE BETTER PATIENT CARE AND THINK ABOUT THE ACTUAL PATIENT EXPERIENCE. ED: LIZZIE FRANCIS, PARTNER AT M13, THANK YOU VERY MUCH. COMING UP ON "BLOOMBERG TECHNOLOGY," MORE OF THAT CONVERSATION WITH META C.E.O. MARK ZUCKERBERG ON THE CIRCUIT
WITH EMILY CHANG. FULL INTERVIEW TO COME JULY 13. BUT A LITTLE NICE SPICY BIT OF IT RIGHT NOW. ♪ ED: MORE CONVERSATION WITH META C.E.O. MARK ZUCKERBERG ON THE CIRCUIT WITH EMILY CHANG WHERE HE COMMENTED ON THE 2024 PRESIDENTIAL ELECTION AND THE STATE OF AMERICAN POLITICS.
HE EVEN TALK AD THE APPEAL OF FORMER PRESIDENT TRUMP THOUGH HE DOES NOT ENDORSE A CANDIDATE. LISTEN TO THIS. EMILY: I WANT TALK ABOUT THE 2024 PRESIDENTIAL ELECTION. MARK: OK. EMILY: FACEBOOK HAS BEEN A FLASH POINT AND YOU PERSONALLY HAVE BEEN CALLED OUT, MOST RECENTLY BY FORMER PRESIDENT TRUMP. THIS IS A BIG ELECTION. WHAT DO YOU THINK IS AT STAKE? MARK: WELL, I MEAN, LOOK, IT’S OBVIOUSLY A VERY IMPORTANT AND IT WILL BE A HISTORIC ELECTION.
YOU KNOW, I FEEL LIKE I’M BEST POSITIONED TO TALK ABOUT WHAT OUR ROLE WILL BE IN IT AND WHAT WE’RE GOING TO DO. THE MAIN THING THEY HEAR FROM PEOPLE IS THAT THEY ACTUALLY WANT TO SEE LESS POLITICAL CONTENT ON OUR SERVICES BECAUSE THEY COME TO OUR SERVICES TO CONNECT WITH PEOPLE. SO, YOU KNOW, THAT’S WHAT WE’RE GOING TO DO.
WE GIVE PEOPLE CONTROL OVER THIS BUT WE’RE GENERALLY TRYING TO RECOMMEND LESS POLITICAL CONTENT. SO I THINK YOU’RE GOING TO SEE OUR SERVICES PLAY LESS OF A ROLE IN THIS ELECTION THAN THEY HAVE IN THE PAST. AND PERSONALLY, I’M ALSO PLANNING ON NOT PLAYING A SIGNIFICANT ROLE IN THE ELECTION. I’VE DONE SOME STUFF PERSONALLY IN THE PAST. I’M NOT PLANNING ON DOING THAT THIS SOMETIME AND THAT INCLUDES NOT ENDORSING EITHER OF THE CANDIDATES.
THERE’S OBVIOUSLY A LOT OF CRAZY STUFF GOING ON IN THE WORLD. HISTORIC EVENTS LIKE OVER THE WEEKEND. I MEAN, ON A PERSONAL NOTE, IT’S SEEING DONALD TRUMP GET UP AFTER GETTING SHOT IN THE FACE AND PUMP HIS FIST IN THE AIR WITH THE AMERICAN FLAG IS ONE OF THE MOST BADASS THINGS I’VE EVER SEEN IN MY LIFE. AND AT SOME LEVELS AS AN AMERICAN, IT’S HARD NOT TO GET EMOTIONAL IN THAT SPIRIT AND THAT’S WHY A LOT OF PEOPLE LIKE THE GUY. BUT, LOOK, I MEAN, WE’RE LIVING
IN A PRETTY CRAZY TIME. AND I VIEW OUR ROLE HERE IS TO MAKE IT SO THAT EVERYONE CAN EXPRESS THEIR VIEWS ON THIS STUFF AND THAT WAY THE POLITICS DOESN’T CROWN OUT THE HUMAN CONNECTION AND COMMUNITY AND THAT’S WHAT THE PEOPLE COME TO OUR SERVICES FOR. AND WE’RE NOT ALWAYS GOING TO GET THAT RIGHT BUT THAT’S WHAT WE’RE GOING TO TRY TO DO. AND I THINK THAT THAT’S PROBABLY THE BEST ROLE THAT WE CAN PLAY. CAROLINE: META C.E.O.
CO-FOUNDER MARK ZUCKERBERG ALONG WITH EMILY CHANG. WATCH THE FULL INTERVIEW ON JULY 23 AT 8:30 P.M. ON BLOOMBERG ORIGINALS. SOMEONE ELSE WAS IN THE ROOM.
WE’RE LISTENING. AND IT FELT AS THOUGH THOSE ARE VERY CLEAR SIGNAL THAT DON’T EXPECT FROM MARK ZUCKERBERG AT LEAST ANY ENDORSEMENT EVEN THOUGH WE MIGHT HEAR IT FROM OTHERS IN SILICON VALLEY AND BEYOND. >> YEAH, I DON’T THINK THERE’S ANY UPSIDE TO HIM ENDORSING SOMEONE AT THIS POINT, RIGHT? I MEAN, IT’S SORT OF LIKE THAT OLD MICHAEL JORDAN QUOTE, YOU KNOW, REPUBLICANS BUY SNEAKERS TOO. HE’S GOT A GLOBAL PLATFORM. HE’S GOT, YOU KNOW, PARTNERS ON
BOTH SIDES OF THE AISLE. HE’S GOT ADVERTISERS ON BOTH SIDES OF THE AISLE AND FOR SOMEONE IN HIS POSITION, WHAT WE SAW IN THAT CLIP IS ABOUT AS CLOSE AS HE’S GOING TO COME TO SAYING SOMETHING THAT SOUNDS LIKE AN ENDORSEMENT FOR EITHER ONE OF THESE GUYS. ED: IT’S STILL SURFACE NATEING. -- FASCINATING. HE WAS IN THE CONTEXT OF WHETHER OR NOT HE WOULD GET RID OF TIKTOK, FACEBOOK AND ZUCKERMISCONDUCT WILL DOUBLE THEIR BUSINESS -- KURT: THERE ARE SOME POLITICAL SAVVY IN WHAT MARK ZUCKERBERG SAID YESTERDAY, RIGHT? IF THE WINDS ARE GOING TO BE CHANGING, OBVIOUSLY, WE TALKED A LOT OVER THE LAST WEEK PLUS THAT IT FEELS LIKE DONALD TRUMP IS TAKING THIS ELECTION LEAD HERE. YOU KNOW, IT’S IN MARK
ZUCKERBERG’S BEST INTEREST TO SAY SOMETHING, FLATTERING OR NICE TO THE GUY WHO MAYBE PRESIDENT AND WHO HAS THREATENED HIM AND HIS COMPANY. SO I DON’T THINK THIS WAS AN OFF-THE-CUFF COMMENT. I’M SURE THIS WAS SOMEWHAT CALCULATED AND THIS IS GOING TO CONTINUE TO BE A CONTENTIOUS RELATIONSHIP. I DON’T THINK BECAUSE MARK ZUCKERBERG SAID ONE NICE THING ABOUT TRUMP, SUDDENLY THESE TWO ARE GOING TO BE BUDDIES. HE’S STARING DOWN THE IDEA OF
FOUR MORE YEARS OF A TRUMP PRESIDENCY AND SO I THINK HE’S SORT OF STARTING TO SET A NEW ON THE THAT WE HAVEN’T HEARD OVER THE NEXT COUPLE OF YEARS. ED: MR. TRUMP IS NOW CLOSE TO ELON MUSK. THESE PEOPLE MATTER IN SILICON VALLEY. KURT: THEY DO. THEY ARE FANS. THESE ARE CELEBRITY C.E.O.’S AND WHEN THEY COME OUT AND SAY, YOU KNOW, AND IN LONDON’S CASE -- ELON’S CASE, I ENDORSE TRUMP. THAT HAS A RIPPLE EFFECT. AND I THINK MARK ZUCKERBERG IS THE SAME WAY WITH A DIFFERENT AUDIENCE, RIGHT? THEY HAVE SUCH INFLUENCE.
THAT’S WHY WE CARE ABOUT WHAT THEY SAY WHEN IT COMES TO POLITICS. ED: BLOOMBERG’S KURT WAGNER IN THE ROOM. CAROLINE: THAT DOES IT FOR THIS THE DECISION OF "BLOOMBERG TECHNOLOGY." WHAT A WEEK IT HAS BEEN, ED. ED: YEAH, IN A MOMENT IN TECH
HISTORY. RECAP ON THE POD. YOU KNOW WHERE TO FIND IT. THIS IS "BLOOMBERG TECHNOLOGY."
2024-07-22 12:02
