FCC Pressures Big Tech to Remove Tik-Tok

It is under pressure with the challenge of its own the SEC Commissioner. Pressure is big Tech to delete it from its app stores. We speak with him live in a moment And companies last year defied the pandemic to go public at a record pace. Now inflation and recession fears of caught up and brought the listing party to a bit of a halt. We speak with the our section of Commercial Officer Jeff Thomas. What to expect for the second half get to all of that, but a

moment a first, let's gotta look in the markets. Crenny Gupta in the house and text talk stuff pretty well. Yeah, they made a complete turnaround Caroline's fascinating when you see this because if you had looked at the market at nine thirty am this morning, this is not what the markets looked like. You did not see green on the screen. You had an almost two percent decline in those opening bells.

A lot of that driven by the stronger dollar story that we saw, but you kind of saw a turnaround story in about i won't say, halfway through the session, a lot of it driven by Big Tex, so much to the point that you can actually see at the SPI close to up only two tenths of one percent. The NASDAC though outperforming in a very big way, up one point seven percent on the day. But take a look at these yields, because I bet some of the

yield picture is playing in two as well. Down only six basis points, well seven, I should say seven basis points, and I'm say only seven basis points, Caroline, because in the last couple of days and weeks, we've had eleven, twelve, even twenty basis point moves in just one day. So it's almost a muted day for bonds, but perhaps lifting the stock market just a little bit, especially those tech stocks that we know are extremely ultra rate sensitive, which

brings me to the high beta stocks in particular. Let's talk about ARC the R innovation E t F. We know that's the trade that has not been working this year, but today it actually performed well. And that's because the lights of Tesla, Microsoft, Google, all the big technics have been taking a baiting. They did really well today. But look, isn't enough to have a tartground story for the lights of our innovation. It doesn't seem so, at least on this one day basis, just given the kind of blood

that we've seen in this particular market. So that's something that we're gonna have to keep an eye on. And let's get to actually the next slide, which I should mention it's not just a small tech that's bounced, because you saw that in cryptocurrency, you saw that in biotech as well, but big tech really really lead the charge. I want to emphasize as much as I can, Caroline, because take a look at this. These are your biggest movers on the day, but also your biggest index contributors

on the day. Your Amazon to your Apples, your Microsoft's, your Tesla. Do we see this again tomorrow? How much of this is a technical trade. Caroline, I don't have those answers, are you, but I'm curious to see if this is a sustainable move on wheel Creaty. Thank you so much a great round up. Meanwhile, Tesla one of the names could you just mentioned, actually higher that's even after disappointing quarter of deliveries and record month of production.

Now factories in both China and Germany will remain idle for several weeks. Joining us on the phone to discuss all of this when I was down a hall who covers the company, Danna. We've sort of had mixed messages from Elon Musque about the cash burn that's going on, and indeed they didn't seem to paint the picture that will be closing down some of their manufacturing units for

for some sort of break. Yeah, they've been a coule different reports out of China and Germany that the plants are going to be offline for a couple of weeks. Uh this this month, Um, you know, the half class empty would say, oh god, this is what a terrible time to be offline. Right, they just gave off of this sort of bad quarter where production was paused because of COVID. Now they're you know, shutting down production again the glass how cool? Would say, well, this is all

built back better. You know, auto companies typically tick plans offline, especially around the July was holiday here in the US, to kind of do retooling, to do equipment maintenance, and you could often get better production after you've had an opportunity to kind of do that. So we'll just have to wait and see what production is like going forward. Um, the company did say that they had a really strong

production for June. Yeah, what was it, two d fifty four thousand, six nine deliveries for June, which is the most they've ever made in history, but it actually was still less than the market wanted. Well, that was no excellent. No, Actually, to fifty four was the was the deliveries for the quarter, which was a dip from the first quarter. But but the market kind of expected that because we knew that China, which is their most productive factory, had been offline for

several weeks because of the COVID lockdown. Um. But yeah, no, it's it's it's definitely a mixed bag. I mean, I think there's gonna be a lot of questions about production and the ramp up of the new factories in Austin and Berlin. When the company reports earnings twenty Yeah, Berlin, Austin losing billions of dollars right now because there's a ton of expense and hardly any output. Musque seemed to

be telling Tesla owner's back on May thirty one. Is he painting in general a gloomier picture or not beat one? What do you think? Well, I mean he's I think he's always been fairly you know, to his credit. I think he's always been fairly frank about the state of the economy as a whole. And this is a man who is now the longest running auto auto industry CEO. I mean, he's been the CEO of tessil two thousand

and eight. He steered the company through the first recession or the most recent recession in two thousand and eight two thousand nine, the company became very close to bankruptcy during the Model three ramp and eighteen. And it is this dance of like, you're investing all of this money into getting new production capacity online, but until they're actually producing cars and you're delivery in the cars, you're not

really making that much money. So I think he's actually gotten fairly good at kind of managing cash and figuring out which leverage to pull. Um, you know, demand is not seen to be a problem at least the moment, and Tesla has raised prices quite a bit to kind of cover the costs of you know, higher energy costs and higher commodity costs, and let's face it, making a

lot more revs than anyone else out there. Donna. Lastly, just the moon music around Shanghai in general, because again we were worrying about further lockdowns coming from those cities. Is as a zero COVID policy seems very much still in effect. How much are we worried about the longer term meant that the Tesla has made. I mean, I think that you know, Tesla's footprint in China is so important to the company and then also just very important to China. I can't see that they are gonna, you know,

let that plant you know fall by the wayside. I mean, they were having people were living in the plant, you know, in the closed loop system for as long as they possibly could. So. Um, but you know, the I mean, the geopolitical questions about China visity of the US are always really interesting ones but no, it's it's a very strategic plant for the company for sure. Danaha always love

her on to talk all things Tesla. We thank you indeed. Meanwhile, well Elon Musk is actually meant to be out in Sun Valley as our media moguls, billionaires, some of the biggest names in tech, media, business and finance and sports, and well our own notable attribute, which is Ed Ludlow is on the ground there too, along with Shinali Bassa. Can Ed talk to us about what's going on on the ground. Who have you seen? What if you managed

to already? So Bob By, former Disney CEO of course now upstairs, has just walked past me and I said to him, Bob, what's top of mind for you? And he said, Ed, I'm retired, having a good time in the sun. Its top of mind for me. But you do get people that come and talk about the industry, right and one of those was one a Discovery CEO, David doust Love, and he actually basically set the scene of what's being discussed there having it. I think it's going to be a great term. But that having a

lot of opportunity. One of rose Discover, who's got great body content. I think the world's changed, and it's not about how much, it's about how it work. The world's changed, car but the vibe is very similar here this year to last year. Really heavy COVID restrictions in place for attendees.

But there's there's a lot that they're discussing that's big picture, and of course the backrupt drop that they're all competing each other in a in a highly competitive streaming space while the consumer is suffering with inflation and fears of a recession overall. I mean, remember last time you were looking at the relationships, for example, the fact that whether indeed Mark Zuckerberg was indeed chhotting to Cheryl Samberg. There's been a lot of change at the top since you

were last there. Yeah, and and those same awkward moments are expected to happen, right, you know, I talked about Bob Vigor what Bob j Peck from Disney the currency over here as well. There have been rumors that their relationship is under stress. You have Elon Musks due to come here along with the Twitter CEO Paraga and CFO

Ned Segel. Of course they're going to talk about the Twitter deal, and even if they are when they're walking through the corridors to brunch, or they're out on their mountain bike having an adventure, or their fly fishing whatever. It is. Obviously that deal is going to be discussed here because it's the one that everyone in this media landscape talking about. Just remind us what everyone there is actually meant to be doing, apart from fly fish is it?

Is it about relationship building? Is it about sharing knowledge? What is actually the the overall impact of a Some Valley? Yeah? So, so Some Valley is hosted by Alan and Co. And Alan and Co is a boutique investment bank that it's advised on some of the biggest deals in history. Right, you look at their name and where the deals they've been involved in this past year. They are advisors on the Twitter deal, right, they have been involved in the

Microsoft Activision deal. The ideas that they bring together all of these people principally from telecoms, media and tech, but you see other people. Mary Barrett from gm IS used to be here, and you know, the hope, let's not beat around the bush. The hope is that this is a place where future deals are born. You know, the idea is discussed, then you know what's thrown in this year is that the world is changing like that. As

I've said, markets are incredibly bollet ale Um. You know, central banks around the world are fighting sort of seemingly unpamable inflation, and they do have behind closed doors these kind of big picture discussion with a number of speakers basically giving their world view. That's kind of what the premium access is. You get to get the thoughts of the creme de la creme of Wall Street Company executive, big thinkers and big thinking for us, we thank you

for meg, said Ludlow out there on the ground. In the US. TikTok spin installed over three and twenty million times, and now our next guest is calling on Apple and Google to remove that app from the app store, is calling it a sophisticated surveillance tool. John us Now as SEC Commissioner, Running CAR Commissioner, thank you for joining us. Um. Why would you want it removed from the app stores?

What power do you think that would have? Well, I TikTok certainly isn't what it appears to be on the service. It's not just another app for sharing plenty of videos or memes. That's just the sheep's clothing. It really does operate as a sophisticated surveillance to what's pulling all sorts of information from UH web browsing, to biometrics like base print and voice prints, to location information and some circumstances

draft messages. So that's a national security concern. But I also think it comes into play with Google and apples policies to your question, because there's been new revelations, particular the last couple of weeks that more data has been flowing back to Beijing and previously reported in data flows are very important in terms of how the app stores allow applications to continue to be on those platforms, and so I've said, take a look at your app policies, UH,

and if these data flows are inconsistent with the representations that TikTok has been making, and it seems to be that way to me, then they could boot them from the app store. You're referencing the reason BuzzFeed piece of course, that looked at bite Dance saying it repeatedly access private information on US uses despite company assurances to the contrary. What data are you assessing to ensure that this is factually correct and indeed some of the other accusations that

you have prior to that. Yeah. So the BuzzFeed news story has internal communications from TikTok and bitte Dance officials, including ones that say everything can be seen in China, and also TikTok itself sent a letter to a number of senators on Friday that for the first time indicated

again a lot of information going back to Beijing. So some of their missions themselves, some of those information there that was shared in the BuzzFeed article, And the administration, through Sippius, an agency group out of Treasury, is also taking a look at some of this, and I would encourage that Sippius process to move swiftly in light of

these new revelations. Indeed, overrule the company, TikTok has said China based employees can access use at US stay to subject to series though of robust cybersecurity controls and authorization approval protocols overseen by US bus based security team. The CEO has come out saying, look, I'm being very willing to engage with lawmakers and indeed what he said is

set the record straight. According to a spokesperson, have you reached out TikTok to the leadership there, have they been able to set you straight or at least have a conversation. I've not been set straight by TikTok just yet, but I'm happy to meet with TikTok officials and engaged directly with them on this. I mean, again, there's two sort of main functions here. One has been for years they were asked directly by government officials. Are officials in Beijing

accessing private US user data? And every time instead of saying yes, but it's not a problem for these reasons, they would say, well, all U S data is stored in the US, and now we find out that there's apparently a tremendous amount of information that was flowing back to Beijing, and that's those new protections are going to

be putting in place. I'm not so sure about that. Again, that BuzzFeed News article how a TikTok official saying that at the end of the day, these are tools built by China and we'll see if they can continue to get access even after those controls are put in place. So frankly, this comes down to a matter of trust and when there's been apparent misrepresentation, but how much data is being pulled where it's going for years now. I don't have a lot of trust left in TikTok. And

I'm not alone. There was a member of the Australian Parliament that just wrote a letter saying, I see your US user data is going to Beijing. I want to know is Australia user data going there? So I think this is probably broader effort to take a look with more scrutiny at the data flows in TikTok. You're one of the three FCC commissioners who are appointed under the Trump administration. Of course, under the Trump administration we saw bands floated of TikTok, but in general, it's not what

users want. And do you see any sort of middle ground here and any assurances that the company could make cause some sort of ability to maintain and use hair in the US, but ensure that you're not worried about information flows. I'm open minded, though obviously I'm skeptical. I think step one has to be let's get a full airing of the information that did flow before, we talk about blessing through some sort of process, additional data flows

going forward. And you're right, I want of four STEC commissioners we can only take official action as a body through a vote of the four of US, and so we'll see what happens here. But again I think there's other agencies that hopefully can be stepping in as well with these concerns. Have you had back from alphabet and the parent company in Google and uncle's Apple about any moves that make on the rap stoles I have, and

I've asked for a response by July eighth. Then there's precedent for those app stores when data has flowed, for instance, two servers in China without that being disclosed, to kick that app out when there's other surreptitious uses of data for them to take action. So I'm open for them to tell me, you know, here's why it's a violation our policies, or here's why it's not a violation of our policies. But the national security question is pretty clear.

I mean, US military branches have almost all been TikTok from their devices. UH, agencies that deal with national security have banned them from their devices as well. We warned families of US troops not to put it on their personal devices either. So there's a lot of concern about the national security threats. SEC Commissioner Brandon Carr, we thank you.

Come back when you perhaps her back from the companies, and and indeed let us know if you do manage to speak to some of those TikTok executives as well, We thank you. Let's talk about deals. Broll com sixty one billion dollar deal for vm Ware I was going to move forward after a rival bidder failed to emerge to break up the deal for the cloud computing company

during its so called go shop period. That's going into people familiar with the matter and the exploration of the goo shop gets broad Com past at least one hurdle to the biggest ever takeover by semiconductor maker. Representatives for vm Ware and broad Colm can immediately be reached for comment. The UK or force owners of apps such as social media and search engines to curb quote, state innked dis information. If they don't, they face fines of as much as

ten percent of annual global sales. The crackdown is part of the forthcoming Online Safety Bill. Meanwhile, the EU IT wants to increase the number of tech startups in Europe, doing this through the EU Listings app, which is saying will make it easier for founders to keep control of a firm once it goes public, as well as raising

some forty five billion in europs. The EU has far fewer deep tech firms in the U S and China, and the goal is to attract more tech and even have them will relocate to Europe, as well as invest in women and diverse founders f d x u S the crypto exchange co founded by billionaire Sam Magma. Freed signs an agreement with Block five that includes an option to purchase the crypto lender for as much as two million dollars and Bangma Freed spoke exclusively Women in Motion

aartibasek on Friday. There are synergies between the businesses A you know, um, I you know, if you look at what what you know Block fay is built out. I think they have a loyal customer base. I think, you know, they have a real business model. They have a hard program that that people love. They's a strong you know, they're strong leadership. And I think that we have been focusing on a lot of the back end infrastructor right on you know, everything from the exchange of matching engine,

risk engine and everything else. UM and and those match up somewhat nicely. And so I think that there are a lot of ways that our products can work together and can mesh together, um, in a way that's sort

of better than you know, either would be independently. And I will also say that you know, they've been working really productively with regulators on you know, building out regulated yield products and licensed yield products, which which you know we're excited about and excited that they've been doing it in a regulated way. I think that's a healthy way to do it. And I think that's going to serve

them well, um, you know, long term um. And it's something that you know work Sage work with as well. You know you had told political that FTX is looking for opportunities to bail out, you know, places where customers would otherwise be underwater. But are you worried here about moral hazard at all that bailing out a company may not actually be what's best for the industry at large. It's a good question, and you know, and and guessing what you're getting at there is like does that bail

out a company that really should have failed? And and teacher is the wrong lesson to that company? Um? And I think what I would say there's two things. First of all, I'm way more excited to bail out customers than shareholders, right. And so the focus of this is not how do we deliver as much shareholder value do troubled assets as possible? Right, It's how do we protect customers? And I think those imply pretty different things. Um Uh.

So that that's that's one thing that will say. And I think that one of them is way more important for the ecosystem, and the other is the one that

has the biggest moral hazard. Um. The older thing is that um uh is that you know, we are trying to find who were the responsible players who were building out you know, a good business you know, how to sustainable model and you know would use short term liquidity um and and and that that could help protect customer funds built you know, a a a real valuable business that I think, um, you know, had something real to offer to customers rather than you know, which companies honestly

should never have existed probably and um and you know as of today, you know, maybe we should just let let them sort of uh you know, die quiet death. UM. I do think that's something that we have been thinking about coming up. We're going to speak to the NASA Chief Commercial Officer, Jeff Thomas on the abrupt halt companies get in public and whether it will pick up in the second half. Stay tuned for it. That's a bling bag.

Welcome back to BLW Technology. I'm Caroline Hind in New York. Now, last year, companies defined the pandemic to go public at a record pace. Now, macro volatility, inflation, recession phase, you name it, it's kind of brought an abrupt end to that listing party. Well, next, Jeff Thomas is here to tell us nasta's chief Commercial officer joining us Now, Jeff is a party of it. Well, if you look at the first half, we had a hundred and eight new listings.

So while that's a dramatic fall off from last year, if you go back historically, that was actually a pretty good number of new listings for US. And by the way, that's compared to twelve on the New York Stock Exchange, so we had about an eight percent win rate in the first half. What really fell off a cliff was

the capital raise. So we only saw twelve billion dollars raised in the first half of last year, and so that was a fraction of what we saw last year what we've seen in a typical year, So still seeing a number of new listings, but not a lot of big listings. At one point it was very very much felt like a spack party in one has that gone the special purpose acquisition companies. So of the eight i p o s we had in the first half, fifty nine were spack I p o s. And so you

did still see new sponsors coming to market. There has been a slowdown in that market compared to what we saw last year based on kind of the market reception on some of the recent spact business combinations as well as some proposed new rules from the SEC over. We did also see thirty one spack business combinations get completed

in the first half of this year. So it's still a viable way for companies to come to market, but definitely under a little bit more scrutiny suddenly, and we've had sort of theorized likes of instacr, the likes of Discord have made it known that they want to go public. How are they now assessing the market, What does the

backlog look like. I think there's an enormous backlog of companies that we've been working with since some of which last year, right, So if the company went on file confidentially in December, it typically takes two to three months to work through the sec comment process. By the time they got to the end of that process, they were really not going to go into the market as choppy it was as it was in Q two. So I think everybody's looking for a little bit more stability in

the market. They want to see the volatility index or the VIX come back down below twenty five or twenty even um and they want to see some of the macro uncertainty get flushed out of the market in terms of what's the FED doing on rate hikes, the entire geopolitical situation. So we're hopeful we're going to see some big deal start to come back to market after Labor Day,

but it's still a bit uncertain. We'll talk to us about therefore, how private companies can help their employee base by having some sort of secondary offering, or how we can have liquidity events for these businesses, many of which have got talent and they need to keep incentivized. I know that you were president in Liquidity Solutions before you talked about you know, when you're in the private market, how you can have these sorts of events. What are

people looking at? That's right, So NASDAC private market is still a very viable alternative as long as the private capital markets hold up. We still see a lot of capital available in the private market. Gets although we are starting to see valuations come down in the private markets

to follow along with the public markets. And so whether companies are going to do a tender offer out to give a broad based liquidity for their employees, whether they want to run an auction to do some price discovery and see what's the true value of their common stock now, or just do one off block sales for some of

the founders in early execs. NASA Private Market has a great platform to help companies achieve that liquidity while they're waiting a little bit longer for the I p O. How many of those companies actually want to look in those sorts of new valuations though, because some of them

are eye watering. When we're looking at the reports about Klana, for example, Well, I think you know, if you look at it, there's a lot of companies on the public side whose valuations have been compressed, and so it makes sense that companies on the private side would see a similar compression, especially those in a similar sector. And so one of the things we track really closely is the price to earnings multiple in the public markets relative to

the ten year interest rate. And there's a pretty clear trend over time that has that tenure interest rate goes up, pe multiples come down because those future cash flows or lack thereof, are a little bit less valuable in a

high interest rate environment. Who are some of the pools of money who are still willing to commit to this private market at the moment, or indeed to new recent I p O s. We've heard of certain institutions looking to actually help bridge that gap when companies are unable to raise new funding rounds or indeed go to the public markets. That's right, I think a lot of folks

will look to step in. The question a lot of companies are asking about is should I raise that new round at equity where I have to price the round or is it better to do some type of a convertible debt security where I can bridge around without having to price that. Part of this is the psychology of the founders and ceo s out there. You know, they

just raised a round and funding. Last year they probably announced that very proudly to their employees, and now they're probably reticent to go out and announce a new lower round valuation, even though that's probably where the market will clear. So trade off between debt and equity is something we hear a lot of companies talking about. And what about where companies are coming from? Are they all US domestic based?

Of course there used to be that time where as the Chinese based companies wanted to list in the US. Is that sort of fall in a file as well? Well. We definitely have seen some headwinds in terms of recruiting international listings along with a lot of the geopolitical uncertainty, there's been a lot of UH nationalism in the search

for new listings. So while things have slowed down a bit with the Chinese listings, while we've been working through some of the accounting issues that the SEC is working with their regulators on, we have seen an increase in demand from companies in Southeast Asia, Latin America and other emerging markets. So for US investors, you know, we think it's critical that we keep attracting these high growth companies from emerging markets to the US capital markets, So we're

hard to work on that. And what about the innovation on your side? What more are you looking to do at the moment in terms of ensuring that they keep on coming to NaSTA Because you say you've got a big win rate, how are you looking to Joel, You're busy. If indeed the pool of companies wanting to come to market is a little bit smaller, well, we always like to say we have solutions for companies at every stage

of their life cycle. So we talked a little bit about how NAZDAC private market can help with liquidity pre I p O. Once you're a public company, an issue that's getting more and more important is what are you doing around your E s G disclosures? The SEC has proposed some rules around climate disclosure, so we're actively working with our issuers to advocate on their behalf with the SEC to make sure that those new regulations are reasonable.

At the same time, we're looking into what are the commercially viable options for us to help our companies with these new reporting requirements from regulators, investors, and all of their stakeholders. So we recently completed the acquisition of Metrio and E s G KPI reporting platform that's going to help companies accelerate the way that they report their non

financial metrics. And let's just talk a little bit. When you think of the S, G immediately started to think of the moves that ASDA was making and showing that, well, the s was uplifted as well, not just environmental, but thinking about diversity on boards and who you have on and listening, how is that conversation going. How much investors

sort to be blunt caring about that at the moment. Well, I think one of the hallmarks of a great market is to have great corporate governance standards, and that's why we did introduce a new disclosure rule around board diversity. We think it's a critical part for investors to be informed about the diversity of companies boards and so we've seen a great response from that in terms of both

companies UH and investors. And as you mentioned on the S there is a lot of work that's going into especially around human capital management within the issuers and how they're thinking about their employee base, especially during this challenging time. Jeff, it's great to catch up with you. Thank you spending a time. Jeff thomasr VP at NASDAC. Let's talk about crypto for a cause now, because in the world a cryptocurrencies actually fundraising events have been forming around all types

of causes. Now with the overturn of rovers as way, digital assets are being looked to potentially aid women around the country with some of the costs that they might have traveling outside of state. For example. Listen, Marcaline is with us CEO of Women Labs and are we pleased to have some time with you just talk to us a little bit about what Women Labs is looking to do in terms of while forming some sort of tao of course around supporting from a decentralized, automous organization funding

women to be able to still access abortions. Yes. So, I think one of the really interesting things we've started to see as a surge in the world of n f T s in crypto as a lever for social activism. So people are now going to crypto, They're going to n f T s as a way to donate money in order to support causes like planned parenthood. We my organization RANS an n f T project called crypto checks, and we were actually back all the way back in January.

We were the first crypto donation ever to IPPF, which

is the parent organization of Planned Parenthood. So I think we're starting to see n f t S as a fundraising measure, but I believe we'll also start to see one step further than that, where decentralized autonomous organizations, which are basically self governed entities, will start to create this network nationwide of people that live in safe states where women can get an abortion in a safe clinic legally, and people that live in states where they in the

past couple of weeks woke up in the morning and realize that if they need access to to an abortion or safe reproductive healthcare, they no longer can legally do that in their state, and a DOW can provide the mechanism to not only just connect women, but to be able to sponsor emergency trips to states where women can

get access to safe healthcare. So the really interesting thing with this is that for people who are upset about what just happened with over Turning Road v Wade, now there's an opportunity to really get involved in a mobilized, action driven way instead of just getting out into the streets and protesting, which we've seen over the past few years with various different human rights causes, doesn't always have as much of an impact as we would love to

see an actually driving change. So I think this is a really great way to actually mobilize people who are passionate about how can I wake up in the morning and and actually do something that has a difference in this cause. Do you think it brings new people to

the world of cryptoconnocies. I think it does. I think there was this kind of misconception and a lot of people's minds still about the fact that um crypto is associated with the deep dark web, right, and now we are seeing that yes, it is actually creating this this underground network, but it's an underground network for good where you're able to connect people from all around the world to drive together towards something that is fundamentally what we

believe in driving human rights. So I think it is bringing new people in. What is also a misconception is that crypto is in some way anonymous, because the blockchain makes it evidently clear that it's not anonymous. So how do you work out how do you ensure that you're protecting so the women who are actually using the funds

to ensure that they are legally protected in some way. Yes, so I would I would strongly advise anyone who is getting involved or the recipient of any of these types of funds to use your crypto and a self hosted wallet, so that means that you own the keys to your wallet, using a cold wallet like Ledger or any of those other providers, and not using in storing platforms that you

might be more traditionally familiar with like coin base. For there's news recently that came out that coin based might be selling geo tracking data to the government, and we're waiting to hear on a Freedom of Information Act exactly the extent of that information that's being shared. But I would just caution people to realize that when you are using a centralized body as a platform for sending crypto,

they are tracking your information. So if you're using something that purely lives on the black chain that you manage and host and story yourself, then you can maintain that anonymity that you're looking for in a situation like this where you're worried about potentially being tracked by the government, And of course we'll we'll look to get some sort of reaction from coin based and other more centralized entities

on that fact. But Alyssa, I'm I'm interested in your perspective more broadly on when we're at a time of great volatility. I mean, I look at, of course, crypto chicks. What you've provided in a lot of it is n f T projects. Of course, n f T s have lost a lawful lot of their value and indeed an awful lot of their minting. And I'm interested as to

whether that makes people less willing. I would think of the height of the crypto craze, money was raised like within a click of your thumbs about around, you know, buying the constitution for example, how quickly you're able to raise funds and this more difficult environment, we saw incredible

excitement from the market. I think there's a lot of people in the crypto industry and even outside of the crypto industry industry that we're just outraged with the news that that came to light in the past couple of weeks, and people who are thinking about this as an opportunity to really be a part of driving change in history.

And so we had people just outpouring support from our community, but from the broader community as well, and there's a few other projects that are doing similar fundraising measures to to raise to be able to donate back to organizations like plant Parenthood, and the whole market has been rallying and support behind these initiatives, which has been very heartwarming to see, as you said, even in light of the fact that there's a bear market happening right now in

the crypto world. Do you think dows in general will be used more prominently going forward for chariteable endeavors need not be about fundraising for something suchuch as this, but just the more accountable way of raising funds from no

matter what way. Absolutely there's complete transparency with how the funds are used, and every person that is donating and participate in within the ecosystem gets to say and how the funds are then distributed, and so for every individual individual person to feel like they are a partial owner

of what's being created and then what's being distributed. I think that's a lot more action oriented and from a personal impact perspective, a lot of people feel like they're actually really driving change and being a part of that, and so having that sense of closeness towards the results of what you're putting your funds towards does really help

to get people a little bit more involved. So I think there will be plenty more initiatives that come out of the world of Taos that are charitable or social impact oriented in nature out of interest of you looked for celebrity endorsement in any way of these funds going towards a helping abortions. In some way, I felt like n f T has got very much caught up in the world of celebrity and kind of has back fard somewhat.

As everyone's taken off their their n f T s from the Twitter handles and the light we we are connected with a few very high profile women who are excited to be involved off with what we're building, and and we feel like that's been really helpful for us because as a lot of women are kind of scared of the world of crypto, seeing familiar faces that you respect and know are really high profile individuals in in

the mass media world. Having those people be a part of the ecosystem and a part of a part of the community helps to to normalize it a little bit. And so I think the people that have really been interested in crypto and n f T s still are. They're still active advocates and and we are connected with quite a few of those that we are excited to

be to be sharing. Son, have you kind of changed your narrative though a little bit as to you say, people who are slightly scared of the world of crypto, how do you ensure that people are doing this with the financial literacy that you want to ensure that they have, that they could lose an awful lot of money when putting it to work in an investment perspective. I'm not saying that your fundraising is in any way that related, but for example and more of your older n f

T projects. Yeah, so I think it's really important to educate specifically women who, as we know from public stock market data, are a little bit more risk averse in their investments, educating on what is the impact are you investing in something that you view as a short term r O I are you thinking about this from a long term investment horizon and really encouraging people to do a significant amount of research before they invest in anything

with the assumption that, yes, there may be a downturn in the market right now, but as you look across the whole, the whole, the whole tech market in terms of risk assets in stocks, everything is down. And so if we are encouraging people to spend this time doing a lot of research and understanding what do they view being around and being a really strong driving factor in the n f T or crypto industry in one year

from now or two years from now. And if people want to then invest, they invest with a lot more conviction having had the time and energy invested in educating themselves. And we, of course as a community, put a lot of effort into making sure that women across the gamut of Web three are well educated on what are all the different terms, What are the ways that you can invest, What are the ways that you can get involved in the industry beyond just being a collector or an investor,

but also being an entrepreneur project builder as well. Women lad CEO Alissa Martime, thank you so much spending some time talking about some of your latest focus. Meanwhile, coming up a Broomberg scoop details on how Washington wants to Beijing's plan to become a world leader in chip production. This is a Broomberg now to a Blueberg scoop the US is pushing the Netherlands to van a s mL from selling chip making gear to China. This is according to people familiar with the matter joining US now as

blogs Eric Martin, who helped break that very story. So this is at a time where we look at potentially US we're using some tarifs from China, but still looking to well ensure that some of the technology isn't going that direction. That's absolutely right, Caroline Uh. This is something that we've seen both the Trump administration and now the Biden administration United in terms of trying to stop China's advance.

China looking to catch up and sort of pass the US in terms of high technology, and one of the choke points in their bid to do so is this lithography equipment, this equipment for printing computer chips. And what we understand is that US officials have been pressuring the Netherlands and a s mL UH to stop providing China

with this equipment. China produces very little of its own equipment for this process, and so this is really an area where if China can't get access to it through a s mL, which provides about of this UH equipment, has market share globally. It really could put the brakes on their ability to catch up with the US on printing, not even just the most high tech kinds of computer chips, but even kind of more mature, older computer chips as well. Do you think has m L will do it? Do

you think the Netherlands will will agree? Well, that that's something that we that we're under that we understand that they have not yet agreed to what the US has been asking for. But this is certainly a place where the Biden administration has been looking to build consensus with allies.

We understand that a similar request has been made of Japan and Nikon in terms of the one other major company to have about uh the very small percentage, very small minority of that market, the part that that a SML does not have. But this has been an area where the Biden administration has been working with allies globally to try to align export controls to make sure that something that trying to get from one country to prevent them from getting it from another. Our Martin, it's a

great scoop. We thank you for bringing it a truly global perspective coming from the chip industry, and indeed, as we continue to keep abreast of what Washington is doing in terms of those tariffs on Chinese goods. Meanwhile, well that does it for this addition of Bloom Big Technology, Well cook off our coverage from Sun Valley beginning Wednesday, the number of great guests including twenty three and CEO so Far, CEO, Event Rights, CEO, I've got a few

there for you, indeed, chairmans too. Don't forget to check out our new podcasts as well. You can find it on the terminal as well as online on Apple, Spotify. And I heard from New York the subreme Berg pick wi a pick wick, a kick, whip, a pick a whip, hip a pip He would a hip wi a ship stick to it