The State of Tech in Middle East | Bloomberg Technology
THE HEART OF WHERE INNOVATION, MONEY, AND POWER COLLIDE IN SILICON VALLEY, THIS IS BLOOMBERG TECHNOLOGY WITH CAROLINE HYDE AND ED LUDLOW. ED: I AM ED LUDLOW IN SAN FRANCISCO. CAROLINE HYDE IS OFF TODAY. COMING UP, THE LATEST UPDATES IN THE ISRAEL-HAMAS WAR AND THE STATE OF TECHNOLOGY IN INDUSTRIES AND COMMUNITIES IN THE REGION. WE WILL SIT DOWN WITH KLARNA. WE WILL GET A PREVIEW OF THE
BLOOMBERG SCREEN TIME EVENT IN LOS ANGELES BRINGING TOGETHER EXECUTIVE AND INDUSTRY INSIDERS TO TALK THE STATE OF STREAMING AND MORE. FIRST, LET'S GET A CHECK OF FINANCIAL MARKETS. ABIGAIL: FOR TECHNOLOGY, WE'RE LOOKING AT A SOLID RALLY, UP ABOUT .3%.
THE S&P 500 HAS BEEN FLUCTUATING . BENEATH THE SURFACE, WE HAVE ADOBE POPPING AMID A RECENT CONFERENCE WHERE AI, THEY WERE VERY POSITIVE ON THE FUTURE OF AI FOR THEIR COMPANY. NVIDIA IS HIGHER. CITI IS BULLISH ON THEIR SEPTEMBER GAMING DATA. PELLETIER IS UP ON THE ARMY CONTRACT THEY RECEIVED.
RELATIVE TO THE NASDAQ 100, IT IS THE TOP-PERFORMING OF THE EQUITY INDEXES. IN OCTOBER, IT IS UP ABOUT 3% MY CLOSER TO 4%. THIS IS A DIFFERENT VERSION OF THAT MONTH THE S&P 500 TECH INDEX IS CLIMBING. IT IS INTERESTING BECAUSE YIELDS ARE INFLUENCING ALL PARTS OF THE MARKET. IT COULD BE HIGHER FOR LONGER,
ALTHOUGH THERE HAS BEEN TALKING BACK BY THE FED AND THE HAVEN BID ON THE GEOPOLITICAL TENSIONS, BUT WE HAVE TODAY THE DOLLAR TRADING JUST ABOUT FLAT, YIELDS DOWN AGAIN, THAT 10 YEAR YIELD AT 4.57. THE 10 YEAR YIELD WAS CLOSER TO 4.35. IT LOOKS LIKE THERE COULD BE CONSOLIDATION DOWN TO THAT LEVEL, BUT THE TREND IS HIGHER. WHAT DOES THAT MEAN FOR TECHNOLOGY AND GROWTH ASSETS? IT IS NOT GREAT BECAUSE LIQUIDITY HAS COME OUT OF THE SYSTEM AND COULD COME OUT OF THE SYSTEM MORE. BITCOIN IS DOWN FOR A FIFTH DAY IN A ROW, PERHAPS A LITTLE BIT OF RISK OFF AGAIN AMID THE ISRAEL-HAMAS WAR AND OTHER UNCERTAINTY. ED: THANK YOU LET'S STICK WITH WHAT IS HAPPENING IN THE ISRAEL-HAMAS WAR.
AGYEMAN NETANYAHU -- BENJAMIN NETANYAHU AND OTHER LEADERS HAVE AGREED TO FORM A RARE EMERGENCY GOVERNMENT. JOINING US TO TALK THROUGH THE SITUATION IN THE WEST BANK AS WELL IS A NONRESIDENT FELLOW AT THE INSTITUTE FOR MIDDLE EAST POLICY. YOU COME TO US LIVE FROM THE CENTRAL WEST BANK, WHERE I WOULD LIKE TO START. BASED ON YOUR INDUSTRY CONNECTIONS, THE WORK YOU ARE DOING, WHAT IS THE SITUATION IN THE CENTRAL WEST BANK NOW FOR THE TECHNOLOGY INDUSTRY? >> THANK YOU FOR HAVING ME HERE. WHENEVER WE ARE TALKING ABOUT
TECH LIVING IN THE WEST BANK, WE CANNOT KNOW WHERE THAT -- LIVING UNDER SURVEILLANCE STATES AND FOR CONS OF TECH -- SURVEILLANCE TECHNOLOGIES HAVE BEEN DEVELOPED ON PALESTINIANS AND THE OCCUPIED GAZA STRIP. THIS IS NOT LIMITED TO WE ARE TALKING ABOUT CCTV CAMERAS, FACIAL RECOGNITION TECHNOLOGIES, SPYWARE, TECHNOLOGIES AS WELL AS -- AMONG OTHER VARIOUS TECHNOLOGIES THAT HAVE BEEN DEVELOPED BY THE ISRAELI GOVERNMENT AND HIS COMPANIES. UNFORTUNATELY, SOMETIMES MAJOR TECH COMPANIES ARE INVESTING IN SUCH COMPANIES -- SUCH SURVEILLANCE COMPANIES TO DEVELOP CERTAIN TECHNOLOGIES AS HAPPENED A COUPLE YEARS AGO WITH MICROSOFT STARTING TO INVEST $75 MILLION INTO AN ISRAELI COMPANY TO DEVELOP FACIAL RECOGNITION TECHNIQUES BEFORE SELLING THAT WORLDWIDE. GO AHEAD. ED: ONE REASON WE HAVE ASKED YOU ONTO THE PROGRAM IS YOUR EXPERTISE IN CYBERSECURITY AND EMERGING TECHNOLOGIES.
THAT IS SOME OF THE WORK YOU DO. BASED ON WHAT YOU JUST OUTLINED TO US, HOW OPERATIONAL OUR TECHNOLOGY STARTUPS IN THE WEST BANK? HAS THEIR ABILITY TO DO BUSINESS CUT WHETHER A SOFTWARE OR HARDWARE FOCUSED COMPANY, BEEN IMPACTED? MONA: WHEN WE ARE TALKING ABOUT TECH INDUSTRIES IN THE WEST BANK, IT IS DIFFERENT THAN TECH INDUSTRIES IN ISRAEL BECAUSE I STARTED TALKING ABOUT CYBER TECHNOLOGIES LIKE SURVEILLANCE TECHNOLOGIES THAT HAVE BEEN USED. NONE OF THOSE ARE BASICALLY DEVELOPED BY PALESTINIANS OR IN PALESTINIAN TERRITORY APPEAR THOSE TECHNOLOGIES ARE DEVELOPED BY ISRAELI TECH COMPANIES. AS FAR AS I CAN REMEMBER, THERE ARE 28 SURVEILLANCE COMPANIES. THEY ARE LED BY EX MILITARY PEOPLE IN ISRAEL. THIS COULD GIVE US A CLEAR EXAMPLE ON HOW THIS IS A MILITARY STATE EVEN IF THOSE TECHNOLOGY COMPANIES ARE DEVELOPING THAT IS ALSO CONNECTED WITH MILITARY EXPERTISE FOR THEIR SENIOR EXECUTIVES IN MANY CASES.
WHEN IT COMES TO THE WEST BANK, THE STARTUP SCENE IS DIFFERENT. IT IS MORE ABOUT SERVICES. WE HAVE SEEN DELIVERY COMPANIES, AMONG OTHER COMPANIES MORE ABOUT SERVICE, NOT EXACTLY ABOUT DEVELOPING TECHNOLOGIES SUCH AS SURVEILLANCE TECHNOLOGIES, AS I MENTIONED. WHETHER IT IS HARDWARE OR
SOFTWARE. ED: YOU MENTIONED MICROSOFT. WE WILL REACH OUT TO MICROSOFT FOR COMMENT ON THAT ISSUE OF CYBERSECURITY AND SURVEILLANCE IN THE REGION. I WANT TO BRING OUR AUDIENCE ANOTHER STORY WHICH BROKE WEDNESDAY MORNING, THE EUROPEAN UNION WRITING TO MARK ZUCKERBERG , THE CHIEF EXECUTIVE OFFICER OF META, AND ASKING THE COMPANY TO LOOK INTO DISINFORMATION AROUND THE SITUATION IN ISRAEL AND WHAT IS HAPPENING ON THE GROUND. YOU WILL REMEMBER AS WELL THAT THE E.U. HAD ALREADY WRITTEN TO ELON MUSK AND ASKED X TO EXPLAIN WHAT IT IS DOING AND FIGHTING DISINFORMATION. SOME OF YOUR RESEARCH AND BACKGROUND IS IN SOCIAL MEDIA.
WHAT ROLE IS SOCIAL MEDIA PLAYING FROM THE WEST BANK PERSPECTIVE? WE HAVE REPORTED ON THIS PROGRAM THAT ON MULTIPLE PLATFORMS THERE ARE VIDEOS BEING SHARED PURPORTING TO SHOW ONE THING WHEN THEY ARE SHOWING ANOTHER. BUT WHAT ROLE BROADLY IS A SOCIAL MEDIA PLAYING HERE? MONA: SOCIAL MEDIA PLATFORMS ARE REFLECTING WHAT IS HAPPENING ON THE GROUND. AS SOON AS ESCALATIONS ON THE GROUND ARE STARTING, WE CAN WITNESS ACTIVISM ON SOCIAL MEDIA PLATFORMS AS WELL AS MORE HATE SPEECH, VIOLENT SPEECH AS WELL AS MISINFORMATION AND PROPAGANDA SPEECH ON THE SOCIAL MEDIA PLATFORMS. IN THE CURRENT SITUATION, WE CAN CLEARLY SEE AN INCREASE IN HATE SPEECH, VIOLENT SPEECH, AND INCITEMENT AGAINST PALESTINIANS ON SOCIAL MEDIA PLATFORMS. SOCIAL MEDIA PLATFORMS ARE NOT INVESTING ENOUGH RESOURCES TO PREVENT SPREADING SUCH SPEECH, AND THEY ARE RELYING ON ORGANIZATIONS TO MONITOR THAT, WHICH BASICALLY CONTRIBUTES TO THE REAL WORLD HARM THAT PALESTINIANS ARE EXPOSED TO. WHILE I'M SPEAKING TO YOU,
THERE ARE ISRAELI SETTLERS IN -- ATTACKING SOME PALESTINIANS IN SOME CITIES AND THEY WERE BURNING BASED ON THIS INCITEMENT AND HATE SPEECH ON SOCIAL MEDIA PLATFORMS. ED: BLOOMBERG HAS NOT VERIFIED THE INCIDENTS THAT YOU JUST OUTLINED. WE SHOWED A MOMENT AGO THAT X'S CEO SENT A MEMO TO THE COMPANY OVERNIGHT SAYING WE ARE REMINDED OF OUR CONSEQUENTIAL RESPONSIBILITY TO PROTECT THE PUBLIC CONVERSATION, AN ACTION THAT SHOWS THAT THEY ARE LOOKING INTO THIS AND TAKING IT SERIOUSLY.
I WANT TO ASK YOU A QUESTION THAT HAS BEEN DEBATED ON THIS PROGRAM BY TECHNOLOGY INDUSTRY PARTICIPANTS IN ISRAEL, IN THE WEST BANK, ELSEWHERE. IT IS THE SORT OF SOME BIOSIS BETWEEN ISRAELI TECH AND PALESTINIAN TECH. IN OTHER WORDS, THEY ARE CLOSELY TIED TO. IS THAT SOMETHING YOU WILL RECOGNIZE, THAT THEY ACT AS A BROADER BUT SINGLE INDUSTRY? MONA: ISRAELIS SEE PALESTINIAN WORKERS AS CHEAP LABOR FOR THEM SO THEY SUBCONTRACT CERTAIN WORKS FOR PALESTINIANS. WITH A LIMITED WORKING OPPORTUNITY FOR PALESTINIAN YOUNG PEOPLE, AS WELL AS LIMITED ACCESS TO E PAYMENT SERVICES WHICH AFFECT PALESTINIANS FROM ACCESSING THE INTERNATIONAL MARKET -- PAYPAL IS NOT OPERATING FOR PALESTINIANS. AS A RESULT OF THAT, PALESTINIANS ARE NOT EVEN ALLOWED OR ABLE TO WORK AS FREELANCERS AND GET PAID BY PAYPAL.
AS A RESULT OF THAT, THEY ARE FORCED SOMETIMES TO DO SUBCONTRACTING WORK FOR ISRAELI COMPANIES WHO ARE WORKING ON SOFTWARE OR HARDWARE TECHNOLOGIES, BUT THIS IS -- WE CANNOT SEE THIS SEPARATELY FROM THE POLITICAL AND ECONOMIC SITUATION THAT PALESTINIANS ARE LIVING UNDER AND FROM THE RELATIONSHIP BETWEEN THE ISRAELIS AND PALESTINIANS IN THE REGION. ED: COMING TO US LIVE FROM ROMANA, THANK YOU. COMING UP, WE WILL CONTINUE THE CONVERSATION ON THE ISRAEL-HAMAS CONFLICT AND SPEAK TO A VENTURE CAPITALIST FOCUSED ON BRINGING PALESTINIAN GRADUATES INTO ISRAELI TECH COMPANIES, AN ISSUE JUST TOUCHED ON THERE. WE ARE ALSO LOOKING AT SHARES OF MICROSOFT. THIS IS A COME TO A THAT HAS
PUT OUT A STATEMENT WEDNESDAY MORNING SAYING THEY HAVE 3000 STAFF OR PERSONNEL IN ISRAEL THAT THEY SAY ARE IMPACTED BY EVENTS. IT IS NOT DOING ANYTHING TO SUPPORT OR HINDER THE STOCK IN EITHER DIRECTION, BUT MICROSOFT CURRENTLY UP HALF A PERCENTAGE POINT. THIS IS BLOOMBERG TECHNOLOGY.
>> IT TURNS INTO CONFLICT AND THAT CAUSES OIL PRICES TO GO UP. THAT DOES AFFECT THE ECONOMY. BY AROUND 10% AND THEN 12 MONTHS LATER YOU SEE INFLATION GOING UP AROUND .4%, GLOBAL OUTPUT IS LOWER BY 1.15 PERCENTAGE POINTS, SO IT CAN HAVE THESE KINDS OF EFFECTS BUT IT IS TOO EARLY TO TELL EXACTLY WHAT IS GOING TO HAPPEN. ED:
THAT WAS THE IMF'S FIRST DEPUTY MANAGEMENT DIRECTOR DISCUSSING THE ECONOMIC IMPLICATIONS OF THE ISRAEL-HAMAS WAR. I WANT TO TURN TO AN ISRAELI ENTREPRENEUR WHO SPENT THE LAST DECADE DEVOTED TO HELPING BUILD A STRONGER PALESTINIAN ECONOMY AND ISRAELI TECH SECTOR. JOINING US NOW IS THE FOUNDING PARTNER AND ALSO FOUNDER OF THE PALESTINIAN INTERNSHIP PROGRAM, A PROFESSIONAL DEVELOPMENT NONPROFIT THAT AIMS TO EMPOWER PALESTINIAN GRADS AND PROFESSIONALS IN DEVELOPING AND BUILDING THEIR CAREERS. LET'S START THERE. YOUR BASIC AIM HAS BEEN TO TAKE PALESTINIAN GRADUATES OR PROFESSIONALS, AS WE SAID, AND PUT THEM INTO JOBS IN THE ISRAELI TECH SECTOR. IN THE FIRST INSTANCE, HOW HAVE YOU BEEN IMPACTED BY THE WEEKEND ATTACK AND YOUR ABILITY -- IN YOUR ABILITY TO DO THAT? >> THE FIRST THING I WANT TO SAY BEFORE WE GET INTO THOSE SPECIFICS IS I THINK, LIKE EVERY ISRAELI, I HAVE BEEN VERY IMPACTED BY WHAT HAS HAPPENED HERE SINCE SATURDAY MORNING.
IT HAS BEEN A TERRIBLE TIME HERE, AS YOU KNOW. 1200 PEOPLE KILLED, MOST OF THEM CIVILIANS, TERRIBLE ATROCITIES COMMITTED, MANY HOSTAGES TAKEN AND ABSOLUTE ATROCITIES COMMITTED, SO IT IS VERY HARD TO FOCUS ON OTHER THINGS. AS FAR AS THE IMPACT, I BELIEVE WE STILL NEED TO TRY TO BUILD A BETTER FUTURE HERE AND THAT BY DEFINITION WILL INVOLVE ISRAELIS AND PALESTINIANS WORKING TOGETHER.
WE BOTH LIVE IN THIS PART OF THE WORLD. NEITHER OF US IS GOING ANYWHERE. WE HAVE TO CHOOSE. WE WANT A FUTURE LIKE THE PAST HAS BEEN, INCLUDING THE EVENTS OF THE LAST WEEKEND, OR DO WE WANT TO CREATE SOMETHING BETTER? IN THE IMMEDIATE TERM, IT IS GOING TO BE EXTREMELY DIFFICULT TO ADVANCE PROGRAMS THAT HAVE ISRAELIS AND PALESTINIANS WORKING TOGETHER. FOR ONE THING, ISRAELIS IN THE TECH SECTOR HAVE BEEN CALLED UP TO RESERVE DUTY. MANY OF THEM ARE A ZERO OR ONE DEGREE OF SEPARATION FROM SOMEONE WHO HAS BEEN KILLED AND VERY FOCUSED ON BURYING THE DEAD, GRIEVING FOR THE DEAD, AND DEFENDING THE COUNTRY, SO THAT IS OBVIOUSLY JOB ONE FOR EVERYONE.
IT IS IMPORTANT FOR US TO DISTINGUISH BETWEEN THE WEST BANK AND GAZA. THE PROBLEMS OF THE PAST WEEKEND HAVE BEEN FROM GAZA AND IT IS GOING TO BE EVEN MORE DIFFICULT THAN IT HAS BEEN UNTIL NOW TO DO ANYTHING CONSTRUCTIVE BETWEEN ISRAEL AND GAZA. THAT WILL TAKE A RIGHT NOW. AS IT SHOULD. WITH THE WEST BANK, THINGS CAN BE DIFFERENT. THE WEST BANK HAS BEEN CUT FOR THE MOST PART, QUIET DURING THIS MOST RECENT TURN OF EVENTS. THERE IS NO LOVE LOST, SO MAYBE IT IS NOT SURPRISING. THE THINGS I HAVE BEEN DOING
HAVE BEEN FOCUSED ON WORKING WITH PALESTINIANS FROM THE WEST BANK AND EAST JERUSALEM TO GIVE THEM OPPORTUNITIES IN THE TECH SECTOR, BECAUSE THERE IS REALLY NOWHERE ELSE FOR THEM TO GET THOSE OPPORTUNITIES. I AM HAPPY TO TALK MORE ABOUT THE PROGRAMS. I THINK IT IS IMPORTANT TO DISTINGUISH BETWEEN THE IMMEDIATE TERM AND THE SOMEWHAT LONGER AND THAT DEPENDS GREATLY ON WHETHER THIS CONFLICT REMAINS LIMITED TO THE EVENTS OF THE PAST FEW DAYS OR IT ESCALATES TO INVOLVE A BROADER REGIONAL WAR. THEN ALL BETS ARE OFF. ED: 24 HOURS AGO, WE WERE JOINED BY THE CEO OF A COMPANY CALLED TECH CLINIC BASED IN EAST JERUSALEM. WHAT HE TOLD US WAS WHILE HE HAD OPERATIONS IN JERUSALEM HE DID HAVE A NUMBER OF STAFF WORKING FROM HOME IN THE GAZA STRIP. HE WAS ASKED LEANING TO US HOW THEY WILL -- EXPLAINING TO US HOW THEY WERE IMPACTED IN THEIR ABILITY TO DO THEIR DAY JOB. I PUT THAT TO YOU SO I CAN ASK
ABOUT THE TALENT POOLS, THE PALESTINIAN TALENT POOLS YOU WORK WITH. WHERE DO THEY COME FROM AND AND WHAT ROLES ARE YOU PLACING THEM? YADIN: AGAIN COME IT LETS DISTINGUISH BETWEEN THE S -- WEST BANK AND EAST JERUSALEM AND GAZA. THE PALESTINIAN TECH SECTOR IS STILL SMALL. IT IS BIGGER AND MORE ADVANCED
THAN IT WAS WHEN I AND OTHERS STARTED WORKING ON THIS 15 YEARS AGO OR SO, BUT IT IS STILL VERY SMALL. YOU CANNOT THINK OF IT IN TERMS OF THE ISRAELI STARTUP NATION, ONE OF THE LEADING TECH SECTORS IN THE WORLD. HOWEVER, THERE ARE SOME YOUNG, TALENTED, AMBITIOUS, AND EXCEPTIONAL PALESTINIAN TECH ENTREPRENEURS. MY EXPERIENCE IS MAINLY WITH PEOPLE IN THE WEST BANK, AND I THINK IT IS EXTERNALLY IMPORTANT FOR ISRAELIS AND PALESTINIANS THAT WE ENCOURAGE THOSE ENTREPRENEURS TO SET AN EXAMPLE AND EMPLOY OTHER PALESTINIANS AND SHOW THE WAY FOR OTHER YOUNG PALESTINIANS TO GO INTO TECH ENTREPRENEURSHIP, WHICH HAS TRANSFERRED ISRAEL AND I BELIEVE CAN PERHAPS TRANSFORM THE PALESTINIAN ECONOMY. SO WE HAVE TO GIVE THEM THE TOOLS AND PROGRAMS AIMED AT GIVING YOUNG PALESTINIANS THE TOOLS AND EXPERIENCE AND NETWORKS AND KNOW HOW TO GO BACK AND BUILD UP A ROBUST PALESTINIAN TECH SECTOR WHICH COULD HELP DRIVE THE ECONOMY THERE AND I THINK CHANGE THE REGION FOR ALL OF US. WE DO THAT THROUGH THE
INTERNSHIP PROGRAM, WHICH IS NOT AIMED AT BRINGING PALESTINIANS TO COME WORK LONG-TERM AT COMPANIES IN ISRAEL. THE IDEA IS TO BRING THEM FOR A SHORT PERIOD, TYPICALLY THREE MONTHS. OFTEN THEY ARE ASKED TO STAY ON FOR AN ADDITIONAL PERIOD. THEN GIVE THEM TOOLS WITH WHICH THEY CAN GO BACK AND HELP BUILD THE PALESTINIAN ECONOMY.
AS FAR AS GAZA IS CONCERNED, ONE'S HEART IS BROKEN HERE FOR MANY REASONS. TWO MONTHS AGO, WE HAD AN EVENT FOR THE INTERNSHIP PROGRAM. WE BRING TOGETHER MANY OF THE PALESTINIANS WHO HAVE BEEN INTERNS, WHO HAVE BEEN IN OUR INTERNSHIP PROGRAM, AND WE MEET THEM WITH ISRAELIS FROM THE TECH SECTOR. IT IS AN INCREDIBLY HEARTWARMING EXPERIENCE EVERY
TIME WE DO IT. AS I SAID, WE DID IT TWO MONTHS AGO ALMOST TO THE DAY, AUGUST 8. THERE WERE ABOUT 100 PALESTINIANS FROM THE WEST BANK AND EAST JERUSALEM WHO CAME. THERE WERE ALMOST AN EQUAL NUMBER OF ISRAELI TECH FOLKS AND FOR YOUNG -- FOUR YOUNG TECH ENTREPRENEURS WHO MANAGED TO GET PERMITS TO COME AND PARTICIPATE IN THE EVENT.
THESE ARE THE KIND OF PEOPLE THAT NEED TO BE GIVEN TOOLS TO COME AS I SAY, DEVELOP THEIR OWN ECONOMY FOR THE BENEFIT OF ALL OF US. I OBVIOUSLY AM PAINED TO THINK ABOUT THE PROSPECTS OF THOSE YOUNG PALESTINIAN -- THOSE YOUNG GAZANS TODAY GIVEN WHAT IS GOING ON. I'M SURE THEY WILL NOT BE HAVING AN EASY TIME OF IT, BUT I THINK WE NEED TO ASK WHERE ONE NEEDS TO LOOK TO PLACE THE BLAME FOR THAT UNFORTUNATE SITUATION IN THE IMMEDIATE TERM. ED: THANK YOU FOR YOUR TIME TODAY. MUCH APPRECIATED HERE ON
BLOOMBERG TECHNOLOGY. LATER THIS HOUR, WE WILL DISCUSS THE ISRAELI TECH ECOSYSTEM FURTHER WITH THE FOUNDER AND CEO OF A GLOBAL VENTURE INVESTMENT PLATFORM. THIS IS BLOOMBERG TECHNOLOGY. ♪ ED: WE ARE STILL MONITORING THE SITUATION IN THE MIDDLE EAST AFTER ISRAEL FORMED A RARE EMERGENCY GOVERNMENT TO SEE THE COUNTRY THROUGH THE WAR WITH HAMAS. THE U.S. IS ENGAGED IN RESPONDING. WHAT IS THE LATEST?
>> THE PRESIDENT SPOKE AGAIN TODAY WITH THE ISRAELI PRIME MINISTER. THEY HAVE BEEN TALKING ABOUT WHAT KIND OF MILITARY AID IS GOING FROM THE U.S. TO ISRAEL. WE HAVE HER THERE HAS BEEN ONE TRENCH OF AMMUNITION SENT FROM U.S. STOCKS ISRAEL AND MORE ON THE
WAY. THERE IS A CARRIER GROUP OFF THE COAST OF THE EASTERN MEDITERRANEAN AS WELL. THAT IS WHAT U.S. OFFICIALS SAY AS A DETERRENT
MEASURE AGAINST GROUPS LIKE HEZBOLLAH OR IRAN FROM ENTERING THE CONFLICT. ED: JORDAN FABIAN WITH THE LATEST ON THE U.S. RESPONSE TO THE WAR BETWEEN ISRAEL AND HAMAS. COMING UP, WE WILL DIVE DEEPER INTO THE IMPACT OF THE WAR AND THE VENTURE CAPITAL SCENE. THAT IS COMING UP NEXT HERE ON BLUEBIRD TECHNOLOGY. -- BLOOMBERG TECHNOLOGY.
♪ ED: WELCOME BACK. TODAY WE ARE GOING TO LOOK AT THE RISE OF AI TOOLS. SIMILAR TO GOOGLE LENS WHICH DIRECTS USERS TO SUGGESTIONS BASED ON ITEMS THAT CAPTURE ON THEIR CAMERA, A SWEDISH TECH STARTUP IS JOINING THE GAME WITH THEIR OWN LENS AND OTHER APP PRODUCTS. BEFORE WE GET INTO THE TECHNOLOGY CONVERSATION, I WANT TO ASK YOU ABOUT ISRAEL AND THE WAR WITH HAMAS. KLARNA SHUTTERED ITS OPERATIONS IN TEL AVIV IN 2018 BUT YOU STILL HAVE CLOSE TIES TO ISRAEL, A NUMBER OF STAFF IMPACTED.
AND YOU EXPLAIN THE COMPANY'S RESPONSE AND HOW IT HAS IMPACTED KLARNA? LANAYA: -- >> IT IS OBVIOUSLY TERRIBLE. SINCE WE DON'T HAVE AN OFFICE IN ISRAEL ANYMORE, BUT WE DO HAVE A LOCAL PRESENCE, THE ONLY THING WE COULD HAVE DONE IS TO EXTEND THE SADNESS AND EXPRESS SUPPORT TO ALL OF THE COLLEAGUES INTERNALLY. MY CTO IS IS REALLY. UNFORTUNATELY, THAT'S THE ONLY THING WE CAN REALLY DO. ED: THANK YOU FOR DISCUSSING THAT WITH ME. WE ARE HERE TO TALK ABOUT AI AND THIS IS A BIG MOVE BECAUSE NOT JUST ON THE LENS PRODUCT, GOOGLE IS GOING THROUGH IT IN CONSUMER FACING GENERATIVE AI APPLICATIONS INCLUDING SOFTWARE USE CASES. WHY ARE YOU SO CONFIDENT IN DOING THIS? GUEST: IT'S INTERESTING TO OBSERVE THAT IN THE U.S. MARKET, SEARCH FOR PRODUCT HAS
BEEN PRIMARILY DOMINATED BY AMAZON. IN 2021, WE ACQUIRED WHAT IS MAYBE THE LEADING INTO LARGEST EUROPEAN COMPARISON PRODUCT WEBSITE THAT HELPS YOU FIND PRICED RIGHT PRODUCT WITH THE RIGHT SHIPPING TIME. EVER SINCE, WE HAVE BEEN EXPLORING THIS OPPORTUNITY AND NOW WITH THE ACCELERATION OF AI, WE THINK THE GAP BETWEEN THE CONTENT ITSELF, YOU ARE WATCHING A NETFLIX MOVIE OR SEEING SOMETHING IN THE PHYSICAL WORLD, IT CAN NOW ALLOW YOU TO INSTANTANEOUSLY MAKE A PURCHASE. A LOT OF YOU HAVE TRIED AND SOME OF FAILED. META AT LEAST WAS TRYING WITH FACEBOOK AND INSTAGRAM SHUTTING -- SHOPPING AND SHUT THAT DOWN. WE HAVE OVER 50 MILLION SKEWS
AND PRODUCTS. WE REALLY CLOSED THE DIFFERENCE BETWEEN I SEE SOMETHING ALIKE AND I HAVE IT IN MY MAILBOX. ED: YOU ARE RELEASING 13 DIFFERENT AI POWERED PRODUCTS. ARE YOU BUILDING THE LARGELY WHICH MODELS THE POWER THAT YOUR CELLS OR FROM ATOP TECHNOLOGY PERSPECTIVE ARE YOU AGNOSTIC AND GOING TO ESTABLISHED BUILDERS? GUEST: WE'VE HAD A CLOSE RELATIONSHIP WITH OPENAI THAT I HAD A PRIVILEGE TO SPEAK TO SAM ABOUT IN FEBRUARY BUT WE ARE ALSO LOOKING AT OTHER OPPORTUNITIES. WE ARE VERY PRAGMATIC. IF WE THINK THAT WE CAN DO SOMETHING BETTER THAN SOMEONE ELSE, THEN WE DO IT OURSELVES.
WHEN IT COMES TO A LOT OF THE LLM'S, THE THING THAT OPENAI ALLOWS US TO DO IS AMAZING. WE THINK ABOUT HOW WE CAN CREATE VALUE FOR CONSUMERS ON A DAY-TO-DAY BASIS COMBINING THE AMAZING TECHNOLOGY AT OPENAI AND OTHERS WITH OUR OWN INTERNAL TECHNOLOGY. RIGHT NOW, WHAT CAN WE BRING TO CONSUMERS TO HELP THEM MAKE THEIR LIVES BETTER? OUR KEY OBJECTIVE. ED: ONE OF THE DATA POINTS THAT YOU ARE PUTTING FORWARD IS THAT 70% OF CONSUMERS ARE SHOPPING IN-STORE. THERE'S A NUMBER OF THIRD-PARTY DATA SETS IN TERMS OF PEOPLE THAT GO TO THE STORES. WHAT IF PEOPLE JUST RETURNED TO ONLINE SHOPPING AND LENSES NOT NEEDED? GUEST: WHAT WE HAVE SEEN IS FOR A WHILE DURING COVID, WE FELT THAT NOBODY WAS GOING TO RETURN TO PHYSICAL STORES AND NOW WE HAVE SEEN THAT THEY HAVE TO A LARGE DEGREE.
I THINK OVER TIME, MORE AND MORE THOSE TWO EXPERIENCES WILL BASICALLY MERGE TO SOME DEGREE. THE MORE AND MORE WE SEE WHAT IS HAPPENING IN RETAIL BUT ALSO WITH PRODUCT AND FRANCE IS YOU WILL HAVE POP-UP STORES, YOU WILL HAVE BREAD -- BRAND. YOU WILL SEE MORE AND MORE THAT PRESENCE JUST LIKE APPLE.
APPLE STORES ARE AS MUCH AN INVESTMENT IN MARKETING. WHAT WE WANTED TO MAKE SURE WITH KLARNA IS THAT WHETHER YOU ARE IN A PHYSICAL STORE USING OUR PHOTO LENS TO SCAN THE BARCODE OR TAKING AN IMAGE ITSELF OR IF YOU ARE SCANNING AND LOOKING AT SOMETHING ON YOUR SCREEN, THOSE SHOULD LEAD TO THE SAME OPPORTUNITY OF COMPARING ALTERNATIVES, UNDERSTANDING WHO CAN SHIFT -- SHIP THE PRODUCT FASTER. THEN IT COMBINES THAT WITH THE PERSONAL PREFERENCES THAT CONSUMERS HAVE BECAUSE THEY ARE ALL SLIGHTLY DIFFERENT. I THINK IT'S NATURAL FOR A COMPANY TO PLAY THAT ROLE.
TO SOME DEGREE, THIS WAS THE PROMISE OF THE AMEX CARD. YOU ARE SUPPOSED WAVE THE CARD AND AS A CONSEQUENCE THE RESTAURANT OWNER WAS SUPPOSED TO BRING YOU THIS PRODUCT OR SERVICE. THIS HELPS TO ACCELERATE TRADE OR ALL OF OUR MERCHANTS AND PARTNERS. NOW WITH AI WE CAN DO IT WITH A DIFFERENT DOUBLE DOWN WAS POSSIBLE IN THE AMEX DAYS.
ED: MUCH MORE AHEAD, THIS IS BLOOMBERG TECHNOLOGY. ED: THE LARGEST PUBLIC PENSION FUND IN THE U.S., THE CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM IS LOOKING FOR A NEW CHIEF INVESTMENT OFFICER.
I SAT DOWN WITH THE CEO TO TALK ABOUT THEIR INVESTMENT STRATEGY. WE TALKED ABOUT HOW A PENSION FUND CAN GET INTO THE GROWTH STAGE ROUND. GUEST: THE HEAD OF OUR PRIVATE EQUITY TEAM, THAT HAS BEEN PART OF THE PLAYBOOK FOR HIM BRINGING IN VENTURE DEALS. SOME OF THE CHECKS CAN BE SMALLER, BUT WHEN YOU'RE PEERING UP WITH OTHER FUNDS, YOU CAN WRITE A SIZABLE CHECK.
COMING BACK INTO VENTURE WE BELIEVE IS THE RIGHT STRATEGY FOR THE PORTFOLIO. >> WE WANT TO STAY IN THE WORLD OF VENTURE CAPITAL, BUT TURNING BACK TO THE SITUATION IN ISRAEL. WE ARE WITH THE FOUNDER AND CEO OF OURCROWD. WE HAVE COVERED A LOT OF THE NEAR TERM.
WHAT'S HAPPENING ON THE GROUND. FROM YOUR PERSPECTIVE, COULD YOU GIVE ME THE BIGGER PICTURE ON WHAT THIS DOES FOR VENTURE BACKED DEALS IN THE TECH ISRAELI SYSTEM? WILL THIS HAVE A LASTING EFFECT? >> IF YOU TAKE THAT FROM OF REFERENCE AND YOU LOOK SEVERAL YEARS DOWN THE ROAD, THERE WILL BE NO QUESTION WE WILL BE BIGGER, STRONGER, MORE MONEY INVESTED. ISRAEL HAS DEVELOPED AND BEEN COVERING THIS INCREDIBLE TECH INVESTMENT ECOSYSTEM.
ISRAEL HAS A HUGE DELEGATION OF COMPANIES TRADED IN NEW YORK. TODAY, 100 UNICORNS ARE OPERATIONAL IN ISRAEL. OURCROWD IS PERHAPS THE BIGGEST DEMOCRATIC INVESTMENT PLATFORM GLOBALLY. CLEARLY OVER THE NEXT COUPLE OF WEEKS AND MONTHS, DEPENDING ON HOW LONG THESE HOSTILITIES LAST, WE WILL BE FACING CHALLENGES. UNFORTUNATELY, WE HAVE A LOT OF EXPERIENCE DOING THIS SUCCESSFULLY. IF YOU LOOK AT THE PAST
PERFORMANCE, EVERY TIME WE HAVE GONE THROUGH THIS UNFORTUNATE EPISODE SUCH AS A WAR, WE EMERGE AT THE END OF THE PROCESS STRONGER, BIGGER. I THINK BASED ON LISTENING TO SOME OF YOUR GUESTS TODAY, ISRAEL'S STRENGTH IN AI AND DETECT WILL BRING LOTS OF CAPITAL -- IN AI DEEP TECH WILL BRING LOTS OF CAPITAL TO THE ISRAELI MARKET. ED: I APPRECIATE THE UNIQUE STRUCTURE OF OURCROWD. HAS THERE BEEN A NEED FOR CASH INJECTION THIS WEEK BECAUSE OF WHAT HAS HAPPENED TO CONTINUE TO BE OPERATIONAL? GUEST: NO, IT'S NOT LIKE THAT KIND OF EITHER SEND ME MONEY THIS WEEK OR WE ARE IN TROUBLE. AS WE KNOW, THERE HAS BEEN A MARKET RETRACTION IN THE AMOUNT OF VENTURE MONEY. OLD WHITE, IT HAS BEEN 50%-70% DOWN YEAR-TO-YEAR BASED ON WHICH AREA.
ISRAEL SHARES THAT DOWNTURN. THE PROBLEM WE ARE FACING IS WE ARE ALREADY IN CAPITAL CONSTRAINED ENVIRONMENT WHERE COMPANIES ARE CUTTING THEIR COSTS, LETTING PEOPLE GO, TRYING VERY HARD TO MAKE SURE THEY CAN GET TO BREAKEVEN OR CLOSE THEN MAKING SURE THEY CAN CONTINUE TO DEVELOP BUSINESSES. THEN THIS COMES ALONG AND THIS IS NOT GREAT IN TERMS OF A CAPITAL RAISING ENVIRONMENT BUT WE ARE IT UP. WE'RE LAUNCHING MANY NEW DEALS AND BRINGING OUR CAPITAL IN. WE ARE HEARTENED BY WHAT WE ARE SEEING AS THE RESPONSE OF THE GLOBAL VENTURE COMMUNITY TO THE ISRAELI TECH COMMUNITY DURING THE LAST SEVERAL DAYS. THERE'S A SITE CALLED TECH CONDEMNING TERROR WHERE IT'S HUGE LIST OF PEOPLE WHO ARE SUPPORTING ISRAEL MAKING ACTUAL COMMITMENTS INTO THE NONPROFIT SECTOR TO HELP FAMILIES WHO HAVE BEEN STRICKEN BY THIS OR PEOPLE WHO ARE IN NEED AND LEADING FUNDS LIKE INSIGHT OR AN ISRAELI COMPANY ARE MAKING IN SOME CASES MULTIMILLION DOLLAR COMMITMENTS.
HOPEFULLY THERE WILL BE AN OUTPOURING OF SUPPORT IN TERMS OF MAKING INVESTMENTS THAT HAS TRADITIONALLY BEEN A PLACE TO INVEST VENTURE CAPITAL. ED: BASED ON WHAT YOU'VE JUST SAID, IT'S WORTH NOTING THAT HAMAS HAS BEEN DESIGNATED TERRORIST ORGANIZATION BY THE U.S. AND THE EU. I WANT TO END ON ASKING WHAT'S UNIQUE ABOUT ISRAEL'S TECH TALENT. NVIDIA WAS DUE TO HOLD AI SUMMIT SUNDAY MONDAY OF NEXT WEEK IN TEL AVIV AND CANCELED HER OBVIOUS REASONS. WHAT IS IT THAT ISRAEL HAS THAT OTHER COUNTRIES OR REGIONS DON'T? GUEST: WE HAVE RESILIENCE. TODAY, WE ARE FACING A CRISIS BUT THERE ARE CRISES ALL OVER THE WORLD.
IN THE UKRAINE, ASIA, THERE'S A FOOD CRISIS, CLIMATE CRISIS. WE ARE SKILLED AT NAVIGATING THROUGH DIFFICULT TIMES. WE DON'T TAKE NO FOR AN ANSWER, WE ARE VERY AGGRESSIVE PEOPLE. WE ARE SWEET AND LOYAL. WE WORK VERY HARD. IN TERMS OF THE AI AREA IN PARTICULAR, WE HAVE REMARKABLE COMPANIES WHO ARE NOT ONLY DEVELOPING GENERATIVE AI OR BROAD PLATFORMS, BUT WE HAVE COMPANIES THAT ARE ALSO DEVELOPING INCREDIBLE EXPERTISE IN THESE VERTICAL AREAS AS ONE YOU JUST SPOKE ABOUT FOR AI SHOPPING. THERE ARE SOME REALLY
INTERESTING DEALS WE CAN TALK ABOUT. THE REALITY IS WE ALREADY ARE LEADERS IN AI AND SAM WAS JUST HERE FROM OPENAI BUT WE WILL GO BEYOND AI INTO ALL OF THE AREAS WHERE ISRAEL IS STRONG OTHER IT'S CYBERSECURITY OR $.40 IN EVERY DOLLAR IS INVESTED IN ISRAEL ROLLED WIDE OTHER IT'S AT TECH OR THROUGH TECH, MORE MONEY WAS INVESTED IN ALTERNATIVE PROTEIN DAN THE ENTIRE EU IN ISRAEL ALONE. IN THE CLOUD, SPORTS TECH, MOBILITY. I THINK THIS WILL CONTINUE TO GROW. I THINK WE WILL GET THROUGH THIS MORE SUCCESSFULLY.
AS WE HAVE FOR THE NEXT -- LAST 75 YEARS AND WE LOOK FORWARD TO WORKING WITH OUR GLOBAL PARTNERS. ED: THANK YOU FOR YOUR TIME. SOCIAL MEDIA PLATFORMSSOCIAL MEDIA PLATFORMS LIKE X AND META FACEBOOK AND INSTAGRAM ARE FACING CRITICISM FOR THEIR HANDLING OF MISINFORMATION AMID THE ISRAEL HAMAS WAR. A COLUMNIST AND OUR EDITOR HERE. THE BYLINE ON WHAT THE
BUSINESSWEEK ARTICLE DISCUSSES. GUEST: IT DISCUSSES THE WAY THAT SOCIAL MEDIA HISTORICALLY HAS BEEN VERY USEFUL BOTH FOR JOURNALISTS AND OUTSIDE OBSERVERS AND EVEN FOR PEOPLE ON THE GROUND. WHAT WE SAW OVER THE LAST FEW DAYS IS THE WAY MISINFORMATION AND CONFUSION ESPECIALLY ON X BUT ALSO ON FACEBOOK AND INSTAGRAM AND SOME OF THE OTHER PLATFORMS. THE SOCIAL MEDIA COMPANIES HAVE BASICALLY THIS INVESTED IN NEWS. IN TERMS OF NEWS AND PRESENTING IT AND WHAT I WOULD ARGUE IS A RESPONSIBLE WAY. WE ARE SEEING THE RESULTS WHICH IS A MIXED BAG. THERE'S OBVIOUSLY GOOD
INFORMATION, BUT IT'S MIXED IN WITH A LOT OF NONSENSE. ED: BEAR WITH ME ON TWO THINGS. THE FIRST IS THAT SOURCES AT X TELL ME THEY ARE WORKING OUT HOW TO RESPOND TO THE EU TECH CHIEF WHO ASKED THEM WHAT THEY ARE DOING ABOUT MISINFORMATION BUT ALSO IN THE LAST 10 MINUTES, WE HAVE HEARD FROM META AND THEY HAVE RESPONDED TO THE SAME REQUEST TO THEM.
THEY SAY AFTER THE TERRORIST ATTACKS BY HAMAS ON ISRAEL SATURDAY, WE QUICKLY ESTABLISHED A SPECIAL OPERATION CENTERS STAFFED WITH EXPERTS INCLUDING FLUENT HEBREW AND ARABIC SPEAKERS TO CLOSELY MONITOR AND RESPOND TO THIS RAPIDLY CHANGING SITUATION. OUR TEAMS ARE WORKING AROUND-THE-CLOCK TO KEEP OUR PLATFORMS SAFE, TAKE ACTION ON CONTENT THAT VIOLATE OUR POLICIES OR LOCAL LAW AND COORDINATE WITH THIRD-PARTY FACT CHECKERS IN THE REGION TO LIMIT THE SPREAD OF MISINFORMATION. WE WILL CONTINUE THIS WORK AS THIS CONFLICT UNFOLDS.
THE POINT THAT YOU MAY COME THERE WAS A TIME WHEN META AND ASK WANTED TO BE THE GO TO -- META AND TWITTER WANTED TO BE THE GO TO FOR CONTEMPORANEOUS INFORMATION. GUEST: TWO THINGS HAVE HAPPENED. ONE IS THAT BOTH OF THESE PLATFORMS HAVE BEEN UNDER PRESSURE FROM TIKTOK.
TIKTOK'S MODEL IS NOT NEWS, ITS ENGAGING VIDEOS AND WE HAVE SEEN THESE PLATFORMS MOVE TOWARD THAT. THAT'S WHEN YOU OPEN UP INSTAGRAM, YOU WILL OFTEN SEE POSTS THAT ARE WEEKS IF NOT MONTHS OLD EVEN ON TWITTER WHICH HAS BEEN KNOWN AS REAL-TIME NEWS NETWORK. THAT MAKES IT MUCH MORE DIFFICULT TO FIGURE OUT WHAT'S GOING ON. THE OTHER THING IS, THERE ARE FEWER JOURNALISTIC PLAYERS ON THESE PLATFORMS. USED TO HAVE COMMUNITY MODERATION HAPPENING. ON TOP OF THE TRUST AND SAFETY TYPES THAT WE ARE HEARING ABOUT IN THE META-STATEMENT OR THAT ELON MUSK AND X HAS SPENT THE LAST YEAR CUTTING BACK ON, WE HAVE JOURNALISTS WHO ARE ON THE GROUND ABLE TO SORT THE WHEAT FROM THE CHAFF IN TERMS OF WHAT WAS TRUE AND WHAT ISN'T.
THAT IS ALSO GONE. IT'S NOT JUST THAT THE COMPANIES HAVE DISINVESTING, THE COMMUNITY HAS DISENGAGED. ED: THERE ARE TENS OF THOUSANDS OF POSTS. THE COMMUNITY IS MONITORING THIS. THIS IS BLOOMBERG. ED: STARTING TONIGHT, BRING TOGETHER LEADERS AT THE END -- INTERSECTION OF HOLLYWOOD AND SILICON VALLEY. SCREEN TIME HOLLYWOOD.
BLOOMBERG IS BRINGING TOGETHER LEADERS, ENTREPRENEURS, CELEBRITIES, AND MOGULS TO TALK ABOUT THE FUTURE OF THE BUSINESS OF CULTURE AND WE ARE DOING IT HERE IN THE HEART OF TINSELTOWN. IT'S WERE HOLLYWOOD AND SILICON VALLEY COLLIDE. CONTENT IS GETTING MORE EXPENSIVE TO MAKE. THE NUMBER OF PLATFORMS BUYING FOR EYEBALLS IS GROWING, THERE IS MORE CHOICE THAN EVER BEFORE. TOP OF MIND IS HOW AI WILL CHANGE THE GAME FOR CINEMA, STREAMING, LIVE SPORTS, AND VIDEO GAMES.
LET'S KICK IT OFF, WE ARE LOOKING AT THE NEW NETFLIX. CO-CEO OF NETFLIX TAKES TO THE STAGE TO EXPLAIN HOW NETFLIX IS FIGURING OUT ITS NEXT CHAPTER OF GROWTH. ABOUT THE CONTENT CREATORS? YOUTUBE CEO TALKS TO US ABOUT CREATIVE CULTURE AT YOUTUBE'S NEW AMBITIONS ACROSS PODCAST AND MUSIC. AFTER WEEKS OF NEGOTIATIONS BETWEEN STUDIOS, ACTORS, AND WRITERS, WHAT DOES THE FUTURE HOLD FOR HOLLYWOOD? IS IT FINALLY BACK TO BUSINESS AS NORMAL? WE SPEAK TO THE HEAD OF ONE OF THE BIGGEST TALENT AGENCIES AND A WRITER, ACTOR, AND PRODUCER TALKS ABOUT MAKING AN IMPACT IN HOLLYWOOD AND GROWING A PORTFOLIO. YOU'VE HEARD ABOUT THE BIG NUMBERS BEHIND THE BOX OFFICE, BUT WHAT ABOUT THE BILLIONS OF DOLLARS THE VIDEOGAME INDUSTRY BRINGS IN WHEN NEW TITLES LUNCH? WILL LOOK AT THE FUTURE OF GAMING WHEN LEADERS ACROSS THE INDUSTRY. AND A DISCUSSION ON THE
CONFLUENCE BETWEEN VIDEO GAMES AND THE BUSINESS OF CULTURE. WHICH HIT TITLES MAKE FOR GOOD TV AND SHOWS? RIGHT GAMES CCO AND A MINECRAFT REPRESENTATIVE DISCUSSED. WE WILL GET INPUT ON THE PERFORMANCE OF SOUND FROM A FOLEY VETERAN. JOIN THE FILMMAKERS, WRITERS, PRODUCERS, AND EXECUTIVES THAT ARE CHANGING THE INDUSTRY AND INVESTORS THAT ARE FUNDING THAT CHANGE. THIS IS HOLLYWOOD. JUST NOT THE ONE YOU REMEMBER. THIS IS THE FUTURE OF HOLLYWOOD. FULL COVERAGE AHEAD BUT THAT DOES IT FOR THIS EDITION OF TECHNOLOGY. CHECK OUT THE PODCAST WHEREVER
YOU GET YOUR PODCAST. APPLE, SPOTIFY, AND I HEART. THIS IS BLOOMBERG TECHNOLOGY.
2023-10-13 16:06
