From the heart of where innovation, money and power collive in Silicon Valley and beyond. This is Bloomberg Technology with Emily jun Emily checking San Francisco, and this is Bloomberg Technology coming up in the next hour to day. The Supreme Court the United States expressly took away a conscious right from the American people that it had already recognized.
They didn't limit it, they simply took it away. President Biden, reacting to an unprecedented moment in American history the Supreme Court's decision to overturn Row versus Wade, protests erupting outside the High Court as women respond to the news and come panties are responding to we'll discuss Plus, the co founder of the Buzzy blockchain developers a lot of Labs
is out with a new crypto cell phone. We'll ask him why he's dialing into the world of mobile and n f T n YC comes to a clothe We'll take a look at the future of n f T s As trading slows down, yet n f T companies are raking in more funding and more celebrities are jumping on the bandwagon. Where's it going? We'll discuss all that and more later this hour, but first I want to get a look at the markets with Bloomberg's Katie Grydfeld
and Katie. Despite what's going on in Washington, stocks rebounding for their best week in a month. Absolutely, Emily, it was a big textbook risk on rally today. Look at the SMP five hundred finishing the day over three percent higher. A lot of that buying came into the closed tech performing even better than NAZAC one hundred, finishing about three
and a half percent higher on the day. And of course, as UH stocks rally, you also saw a bitcoin rally as well, bit and actually breaking above remember it had been glued to about twenty per coin, finally getting above it. All this coming again as yields rose. Textbook rally. But let's all get what that meant for the volatility index the VIX, if you will, you can see that sort
of continues to breathe a sigh of relief. Edging down, it's still above it's one year average as you can see on the chart, but still volatility markets breathing a sigh of relief as we finally see risk assets catch a bid this week and one of the sucks that stuck out to me was Twitter. Actually, it was up for its first week in four rallying about five and
a half percent over the past week. A lot of those games came today, even you had an insider report that Twitter it's agreed to give Elon Musk more real time data, more user data. So maybe Emily, this deal will finally go through one day. All right, we shall see. Not going to predict anything on that front, Okay, Bloomberg, Katie Griffeld, thank you. Meantime, a historic day in Washington, the Supreme Court striking down constitutional right to an abortion.
For more on this decision, how we got here and what happens next, I'm joined by Blue Brooks Greg Store, who covers the Supreme Court for US. So, Greg, we had a feeling this was coming, baked on the leaf leak draft opinion from a few months ago. But talk to us about how we got here and what has actually changed from this moment forward when it comes to
women's access to abortion. Well, how we got here was in large part through three nominees by President Donald Trump, two of whom significantly shifted the court to the right compared with what it was with their predecessors, and of course to those all vacancies happened in an election year and Republicans were able to fill them. Both those three justices were in the majority today, they tipped the balance. Uh. They are the ones that have made this a much
more conservative court than we had seen previously. Uh. One of them, Brett Havanaugh, did put some limits on today's decision and a concurring opinion. We can talk about some of those, but but really this is a victory for those who supported the Trump nominees and wanted them to transform the Supreme Court. There is some fine print here, as you mentioned, with Justice Kavanaugh and Justice Roberts talked to us about what we see in that fine print. Yeah.
So Chief Justice Roberts did not join the majority in saying he would overturn Roge weight. He would have. Uh. He agreed with the decision to uphold the Mississippi fifteen week band, but he said the Court didn't need to go beyond that. In this case, Justice Kavanaugh did vote over turned Row, but he added a concurring opinion that laid out a few areas where he didn't think the Court needed to go or shouldn't go. Among them. He said that, uh, if a state were to try to
ban somebody from traveling to a state that allows abortion. Uh. Justice Kavanaugh said that, in his view, would be unconstitutional, and since he's really the fifth vote here, that would mean that the Supreme Court would not uphold that sort of travel band. He also included some language suggesting that he felt pretty strongly the Court was not deciding other things like whether same the same sex marriage ruling from a few years ago was still good law. How have
the states been reacting to the ruling? I mean, are are you know? You know, as as we understand it, this could lead to abortion becoming illegal in half of US states? How quickly will that happen? As some of those very quickly. Some states have already announced abortion is is now illegal. Um. You know, thirteen states had the so called trigger laws that were designed to take effect as soon as the Court said Rose overturned, which it
did do today. There's some other states that had pre existing bands, and there might still be some litigation as to whether those pre existing bands are are can be enforced. But those twenty six or so states, uh, in pretty short order, folks are expecting them to largely ban abortion. Al right, Greg, store much to continue to cover here
in Washington Forest. Thank you, Greg. Now, we've seen new Worris companies, including some of the biggest names in tech, react to this Supreme Court ruling by saying they'll provide travel benefits for employees to access abortion. But my next guess, that's not all tech companies can do to help women who want the option to navigate a post row world. Joining me now is Rebecca Wexler. She is an assistant professor at Law of Law at Berkeley Center for Law
and Technology. So, first of all, Rebecca, you say that big tech companies can take a stand, and not necessarily in the way we might think. What can big companies do in this debate? Absolutely, well, they have to take a stand. There is no neutral position. They haven't either or choice. They can either protect pregnant people who are seeking medical care, or they can help anti abortion prosecutions. And there's a couple different ways they can do this.
What is they have a choice about what kind of information they will aid in disseminating to people who are pregnant and seek access to medical care. So, how do you access medication abortion? How do you access abortion clinics across state lines that remain open and functioning. Tech companies could choose to uh provide that information, provide free security services to websites disseminating that information so they're protected from
vigilante hackers. Or they could choose to use their content moderation policies to shut that information down and censor it on the airport of other things that could do as well. Exactly, Well, let's talk about it all because you know, a big, something, very valuable that big tech companies have is the data. And if law enforcement asks for this data, aren't they obligated to hand it over by law? Great question. So it depends on what law enforcement uses when they ask.
If law enforcement comes and says pretty please, no, of course, they're not required to hand it over. If law enforcement comes with a valid warrant, well, then sure a company has to comply. But actually, companies are receiving requests for data from law enforcement all the time. They have representatives that engage in negotiations around those requests, and they can choose to be more stringent, a less helpful shall I say less providing efficient data distribution to law enforcement. They
can challenge the scope of even a lawful warrant. There's something called emotion to quash. I really love the word quash. But Facebook or Meta has done this in the past with warrants, taking them to court to say this is overbroad, it's a phishing expedition, it's not sufficiently particular. Um and the tech companies know generally which laws are claimed to
be violated when they receive a warrant. So one of the things they could do, even in that extreme where police are coming with where anti abortion prosecutors are coming with valid legal process, the company can also push back
and assert rights to challenge that process in court. They couldn't additionally notify the people whose information is being sought, so long as that's not prohibited by the warrant, And they could do things before they get to the warrant stage that would protect all this data that we're generating all the time from being used in anti abortion prosecutions.
So having end to end encryption for all your communications by default, giving warnings to users to say, if you choose this communication channel, your data is going to be subject to law enforcement surveillance. Storing data locally on users devices instead of in the cloud, purging data giving users the right to delete data remotely, foregoing using complications analytic systems to predict people's early pregnancies and abortions, um, all
of these things they could be doing. They could say, we're not going to store location tracking data for people that are traveling near abortion clinics, so there is no neutral position. If they collect this data, they store it, they make it easy for law enforcement to access. That's a choice they're aiding anti abortion prosecutions. Interesting what we have heard from some prominent women in technology so far
today This from Melinda Gates. Today, a government in which women have never had an equal voice reached deep into the most private corners of a woman's life to tell her the choice over what she does with her body is no longer her own. This is America taking a step, a big step backward. And this from Cheryl Samberg, the Supreme Court's ruling jeopardizes the health and lives of millions of girls and women across the country. It threatens to undo the progress women have made in the workplace and
strip women of economic power. She also points out that this impact women the most with the fewest resources. Now, it's one thing for Cheryl Sandberg who's the CEO of Meta and yes, she's leaving in September to say this, it's another for Meta the company to take a stand. What more specifically could a company like Meta, which has all of this information about what users are talking about to each other in private messages? Um? One more could a company like Meta specifically do in this instance to
take a stand? And what are they actually likely to do? Given that these companies the data is their business model, Well, they absolutely could take a stand to say that data that would subject people to criminal prosecution for abortions is going to be treated differently. They have enough data on all of us to serve their business model. They don't need data about people's private health choices in order to
make money. So they could cord it off data that is going to make people vulnerable to criminal prosecutions and say we're going to protect that, we're going to treat it differently, we're going to purge it, we're going to fight when law enforcement comes to access it. They could provide those privacy protections and use their power to reclaim some of the privacy from government intrusion that Rowe once
guaranteed and the court just eviscerated. Do you see a wave of warrants, a wave of of lawsuits and demands for for this kind of information, from law enforcement, to tech companies to startups. Absolutely, the data that we are generating in our everyday lives is already being used in criminal prosecutions. Fitted data has been used in murder prosecutions. People's unencrypted text messages, web search histories, UM chat messages have already been used to charge one woman who miscarried
with feet side and another with murder. So the location data, the web search histories, your emails, your communications, your associations, all of those are data that law enforcement ken and does use and will pursue. This conversation has focused a lot on period tracking apps, which is a hugely important issue. How are those apps that serve reproductive choice needs going to protect people, protect their users? But in fact, it's all this other kind of data that will also leave
people vulnerable UM heartbeat, uh, sleep cycle data. Any any of this information can be used as evidence in court to convict people of crimes. Interesting alright, Rebecca Wexler, Assistant
Professor of Law at Berkeley. Professor Wexler, thank you for joining us as we were talking about a headline from The Washington Post that Google workers can now app I to relocate in the aftermath of this decision to overturn Row versus Wade that coming from the chief people officer at Google, two employees, um will continue to cover more
headlines as we get them. More still to come. MS shares of Twitter rose and the week this after Twitter said it sent war user data to Elon Musk, including real time information which could allow the Musque team to determine how many users are actually bought, which, of course Musk has been complaining about. Last week, Musk lawyers sent Twitter a letter complaining the data wasn't enough that they
had sent previously. And hackers have stolen a hundred million dollars in an attack on a cryptocurrency bridge, an app that lets people s coins between blockchains. Harmony says it's working with national authorities and friends especialists who identify the hackers and get the money back. So called crypto bridges have been seen as particularly vulnerable two hacks, the saga begins. That is how Salana is building its newest venture, mobile phones.
The blockchain is unveiling a cryptophone for Android called Saga, along with the Salana Mobile Stack and open source software toolkit also for Android. Joining me now, Salana Labs co founder on a totally yako venko on a totally thank you so much for joining us. So how does launching a mobile phone fit into Salona's broader ambition of being a pivotal key n f T blockchain. Um, I mean, thank you for having me. First of all, it's awesome to be here. Um So, phones are everyday device that
you use. You know, every everybody has one. You probably spend more time on your phone than on anything else. And the most important part of crypto and these networks is self custody. And it's a really complicated piece because it involves cryptography, so not a lot of people understand it. Not a lot of people actually use, you know, while
it's like phantom like meta mask around the world. And the goal of the phone is to make that experience delightful and easy and simple and have the you know, the user experience of like Google Pay or something like that. You actually had a career in mobile back at Qualcom. How long have you been thinking about a crypto mobile phone? Oh? I mean as soon as we started working on Salona. We kind of felt that, you know, imagine everybody in the world using these networks. Of course they're going to
use them from their phones. And because it involves secrets and cryptography, given that it worked a lot on the hard row layer of the firmer layer, it's kind of obvious to build all of these smarts directly into the device itself. So kind of having your hardware wallet be your phone just makes a lot of sense. Now, Salana has gotten a lot of buzz over the last couple of years. More broadly, what is it about Salana that you think makes it better than other blockchain? Um, it's
cheaper and faster, that's about it. And that means developers building about three applications can build them for a larger number of people, make the more delightful, simpler and easier to use, and that is translated into growth everywhere. But like, you know, holy moly, n f T s there's fifteen million, nearly fifteen million, and f t's minted on Salana. That's not something anyone of us expected, but um, it's kind
of crazy to watch now. Helium has also been trying to do something simple similar with wireless for years, but you know, they're just now starting a five G pilot. They have a deal with Dish. What a Salona think it can do better? Here? Are you looking for corporate wireless deals along those lines? I mean, I would love to take a Helium five G SIM card and plug it into Saga. That would be that would be amazing. That means this is a cryptophone running on a decentralized
five gen network. So you know, Salana has been focused on more kind of fintech applications, why throw wireless into the mix? I think the key part to adoption is is making that experience of cryptography simpler for users. It's just such a complicated thing. And one of the biggest challenges even is even for Web developers like Web three developers, they can't build true Web three applications for the big
app source. So part of the Salani mobile stack is a developer friendly app store that doesn't have extractive fees, and that's a huge selling point for a lot of doubs. Salana has been having issues with congestion. Won't this additionally usage make that worse? Um? So, congestion issues that we have on the network come from bots, not really from humans, and a lot of the performance improvements in one tent already showing that a lot of the bugs have been fixed.
You know, every release just makes the network better and better. What else are you doing the fix to fix the reliability issues. There's three technologies that are rolling out, so they're already implemented in once Out ten and one dot ten is already a may not but they're not activated by the community yet, and that's going to take then over the next several months. And that's quick stakeaway to
qus and most importantly localized fee markets. So if you heard of ethereum and you know how you know there's an air drop and all of a sudden transactions costing a thousand dollars um. That's something that can be contained within an application. So when there's something popular happening in one air drop, that doesn't impact Salanta pay for example.
Now the crypto market is going through this broader quip crypto winter, and I'm so curious what your take is on that and whether you think this skepticism around digital currencies will bleed into the blockchain market. Yeah. I think what's been really surprising is that the users that are engaging and platforms like magic Heaton haven't slowed down that an amount of you know, engagement they're having, how often they're participating in mints, and how many of them are
doing it, that's just keeps growing and growing. So I think we're for the first time seeing web experiences they're totally decoupled from the price of bitcoin um and I think the big deal here is that these are new business models. You know, magic Keaton does not make money off and at exchange somewhere. It's a purely Web three application running on Web three digital assets. Now there's a
more existential question at play here. We're seeing uh, you know, venture capitalists that have plowed money into blockchain technology, big backers of Solano. I wonder how you square that with this, you know, ethos of decentralization. So I think what actually drives decentralization is users that use the network and love it and need to run the actual physical hardware because
they're getting some value out of it. And because of that, we've seen the number of nodes in the network, uh, you know, breach over half of what a theorem has today, so roughly thirty four un it on Salana, and I think roughly about six thousand and ethereum, so, you know, kind of roughly if you think of it in the East term, Salana is as half of the centralized as Ethereum, but one of the top three networks at this point.
Any concerns about d Y d X competing with salana um so I think d I d X moved from starkware to a Cosmos chain. I mean, I love Cosmo. Zaki is an amazing builder. I love that whole community. I think that's a perfectly great spot for them for the kind of application they're building. All Right, we'll keep watching Salana. Co founder Anatole Yaka Venko, thank you. The hell and life of women in this nation are now at risk, the voiceless. Finally, termination of a pregnancy is
just their opening act. It's just their front game. I don't know what the books that this quarter are going to be. All civil rights are under threat. But we'll save the lives of millions of children, and it will give families hope. It will have huge implications, economic implications for families. Takes away their ability to engage fully in the economy. This decision is not about abortion. It is about power and patriarchal control over women. It pushes it
back to state legislatures from all across the country. You will see certainly a little bit more voter intensity, even in uh in swing states and center races this fall. A woman's right to choose reproductive freedom is on the ballot in November. Welcome back to Bloomberg Technology and Emily Changed San Francisco On and get back to today's big story. The Supreme Court overturning ro versus Wade, wiping out American women's constitutional right to abortion, a ruling that's likely to
make the procedure illegal in half the country. I want to talk about the role of telehealth here and how health tech companies can maybe bridge that gap for women who want that choice. My next guest is a co founder and CEO of Hey Jane and at Home Abortion Pill Company, Kiki Friedman. Kiki, thank you so much for joining us as someone who runs and at home abortion pill company. What is your reaction to this ruling? We think the Supreme Court today was absolutely on the wrong
side of history by overturning Row. These judges are making an incredible attack on people's individual liberty, and they're putting
the help of millions of individuals at risk? UM, the decision is coming at a time when the vast majority of Americans do support access to safe and legal abortion care, and UM, you know, I do think it's important to note that abortion is still legal in many seats in this country despite what we've seen as a lot of confusion around the issue, and that, unlike in the pre ro era, to maybe do have access to safe, effective abortion pills and the technology to connect with patients to
give them the worth that they need. So how does this decision impact your business model? Are there changes that you're having to make right now as a result of this law. We will continue operating in all six states in which we're currently live. Abortion does remain legal in those states. We've strategically positioned ourselves in those states as the locations that are likely to absorb the most demand
after row. UM forecasts are suggesting, for example, a three thousand percent increase in out of state travelers speaking abortion care in California that numbers early nine thousand percent in Illinois. UM. We have grown our team to anticipate that increase in demand, and we also plan on launching a new states soon. So how do you then protect your customers and your employees from being potentially liable depending on where they're coming from.
Ajane is compliant with all local telemedicine laws. Our patients must be in the state where it's legal in order to receive care UM, and we follow all of the other very nuanced abortion and telemedicine laws within these states. What do you see as the future for telemedicine around abortion related issues. I mean, I imagine there's going to be a big shift, perhaps a whole economy developing around
this as a result. Yeah, we did see that this year, for the first time, medication abortion was over half of all abortion treatments in this country. UM. For some contexts. The medications have been around since two thousand, very well studied UM to be incredibly safe and effective. They have
a lower adverse reaction it actually than tail. In all, we do think that medication abortion and tele medicine abortion in particular will become an increasingly important means of access UM as clinics become increasingly burdened by the restriction to post row they do. It does have a number of important benefits. It can reduce the cost, the travel time UM, the time way for treatment and so it is likely to be an increasingly important part of the acaslands game
moving forward. Now, this decision is likely to impact poor women disproportionately. The hay Jan option is cheaper than a medical abortion pill, is still a couple hundred bucks. How do you plan to make that available or help poorer women who want access to it? Absolutely, financial accessibility is paramount to our mission deserving the patients that we need to be serving. Our price, as you mentioned, is two nine dollars, which is less than half of the national
average of by fifty. However, still out of reach for many. So we do partner with some really wonderful nonprofits called abortion funds that offer financial assistance to patients who need it. We're also in the process of working on insurance coverage. There is some policy work that needs to be done there in order for it to be compatible with the medicaid model, but we're pushing forward on those changes as quickly as we can. Now. I know you just raised
three point six million dollars from investors. Do you think that more investors are going to be interested, more or less interested now that we've had this decision. I mean, have you heard from investors? Are you getting fresh inbound interest. We definitely have seen a spike in interest. I think many people living today have only lived in a post ro era, and the idea that this fundamental right was truly going to be stripped away felt a bit perfected.
I think that now that people are coming to terms with the very stark reality we're facing, there is a lot more interest in assisting with solving uh, you know, this really critical problem. We've been getting headlines from how tech companies are and are not taking a stand about this. Google, according to the Washington Post, just told workers they can apply for relocation um as a result of the road decision, Meta telling workers not to talk about the decision openly.
That according to the New York Times, what stand do you think big tech companies that have access to a lot of data and a lot of power, what should they be doing? That's a great question. I think the number one thing they absolutely must be doing is protecting access for their employees. We have seen many a large companies step up to support funding for cross state travel
when needed. I think that's absolutely essential. I think um there's also a lot of concerning trends happening with the use of data to track abortion patients and providers, and to the extent of these countries, companies can mitigate those risks. I think, um, they certainly have a moral obligation to do so. All right, Kiki Friedman, Hayjane, co founder and CEO, thank you for joining us and sharing your perspective. We'll be right back with more of Bloomberg Technology after this break.
Time out for our clip to report, and I want to take a look at the week that was with our crypto Contributionale Bostic, and it looks like Nale didn't end up being too bad a week for crypto this week, did it. Yeah, finally we have some green on the
screen for the crypto crowd. We have about a three point five percent jump in Bitcoin over the seven day period and even bigger jump Emily, when you look at a theory um, you're looking at a twelve percent jump over seven days and more than eight percent jump over the last twenty four hours. And again that brings you above twenty one thousand for bitcoins safely for now and above one thousand, two hundred for ethereum, for which a
lot of n f t s are based on. I do want to bring you another chart here and we're going to talk about this a lot with our next guest, because one area of excitement is uh NBA top shot volumes, and if you look at n f T trading volumes, you do see them slowing down. The same had been true for top Shot, But there is a lot of excitement about the application of n f T s, especially as it relates to other industries primary early sports. We
talked about videos yesterday. Let's see how much that can keep going on, especially as this big conference in New York this week starts to wind down. All right, Shanali, thank you. Speaking of n f T S, n f T n y C coming to a close, Web three and n f T Enthusiast spent the week discussing the opportunities and challenges ahead, including for instance, the crypto market and n f T trading volume sinking, and yet there are some still placing big, big bets on n f
T marketplaces. My next guest is the CEO of Dapper Labs, the popular n f T marketplace behind Crypto Kiddies and NBA Top Shot, Rohan Gary Goslow with us now along with Channali. So ro Hom, why why are you still bullish? On n f T s given the decline in trading volumes. Well, you know, we've this is not our first market cycle, and we're bullish on n f T s because we think, you know, it's crypto and n f T S in particular is one of the only areas in tech that
you know, we've touched about a million NBA fans. There's a billion NBA fans out there. There's a thousand x growth potential in the market just by building products that that people want to use. And UM. N f T S to me stand for open digital assets, assets that you know, people already spending hundred billion dollars a year in digital worlds. UM. The n f T technology lets those assets be portable, let's developers build new kinds of
experiences on them. And the technology for that is just now getting to the point of maturity where you know, it's good user experiences, low costs, and its scalability with blockchains like flow and uh and others helping make NBA top Shot successful. So we've taken everything that's powered NBA top Shot and recently crossed one point two billion dollars and transaction volume there um and and making it available to two companies all around the world, from um startups
to to Fortunate one hundreds. So some of the world's smart, smartest folks are are building in this ecosystem that for most of us is you know, for most people out there is a year and a half two years old. UM and uh, and I'm super excited to see, you know, the value that's going to be created over the next next little while. And some of the biggest athletes and celebrities are getting in on it or trying to. You
just announced a new partnership with Magic Johnson. Tell us about that and the role that celebrities and athletes will play here. Well, I think n f T S Web three in particular is just a way for communities to come together and for celebrities or brands to connect with their friends in new ways. So Magic really got this in a in a in a way that I haven't seen many many folks get it immediately, and he jumped in.
He's he's created a line of U n f T S on NBA top shot some of his greatest moments, some of the greatest moments from his his history and UM he's also put his annotations and and sort of his commentary over over these moments and the fans have been going crazy, So it's really exciting to see that. And UM, it's exciting to see NBA Top Shot become kind of a hub for UM. If athletes want to engage with their fans, UM, that's where they because that's
where that's where where the fans already are. UM. And then the next interesting thing that we've got coming up is the launch of NFL All Day UM with the new NFL season, So we're excited to talk about that. Yeah, I wanted to ask you more about other sports on top of the NBA. The NBA has done so much in the n f T world already, but how much adoption do you think could expand into the NFL and other sports? What's on the horizon? So Dapper Labs, we're working on NFL All Day and UH and UFC Strike.
NFL A Days should launch by the by the beginning of the season, and UM, if folks are n l A get excited for some real world benefits on real world integration between kind of the you know, the NFD economy and kind of showing up to to the season opener and things like that. But what does that look like because on one hand, you do have this virtual world and huge communities being formed online. But at what point does the rubber hit the road in the real
world when you were going to sports games. Well, I think it goes two ways. One is, people that are going to live games, they're going to be earning free kinds of n f T we call them UH flow attendance tokens or proof of attendance tokens UM, and people will even be able to earn different kinds of those for dialing into broadcast games and being essentially an engaged fan UM and that sort of bridges. That's one way
to bridge the physical world into the digital world. Give folks um something to to do with their kids and and and friends as they as they watch the live game, give some value back to folks that show up to to the arena. And then on the other hand, we want to take our best collectors, folks that have spent tens of thousands, in some cases hundreds of thousands or millions of dollars on on inside the economies of these various teams and leagues and show that data to the
teams and the teams themselves. They want to provide special experiences for those folks. These are this is a younger generation folks that you know, they might have season tickets um or, but but they might want to engage in the sport in different ways. They'd rather, you know, have a million dollars NBA a top, have a million dollars
in Lebron moments um than a courtside seat. But still when they show up to a game, they expect to be treated differently and and this technology allows that because it's open and uh, you know, the data is visible for for anyone to be able to build on top of I love the Warriors, Rohan, but we're baseball fans.
My kids play baseball. What about baseball? I mean f t X is on the uniform of every umpire and in Major League Baseball, yeah, I mean them so So Dapper Laws doesn't work directly with baseball, but we have we have a number of other companies that are building interesting products and UM. Like I said, we've opened up our tools, so whether it's the Flow blockchain or or the Dapper wallet on top um so that you'll you'll probably see other companies UM using our tools to build
their products on top. So you can use the same credit card you have loaded up from a top shot um to transact in any number of other marketplaces and and virtual worlds. Emily was just talking to the co founder of Salana. We had Magic eating on earlier in the week. There's a lot of conversation about shifting away from just Ethereum into Solana and f t s. How much are you seeing the n f T community float into other chains? Do you think that move is going
to be more aggressive? I think so, I mean in a lot of ways, but it's new community is also being created. The community on Ethereum is incredibly strong. There's only twenty transactions in the last twenty four hours because it's expensive to transact on etherorem, so you end up seeing a lot of expensive, high value assets being being transferred, whereas on flow it costs for actions of a scent.
You can sell something for a dollar um and that is just much more accessible, much more engaging to folks. Um and same things a lot of very low cost um, high volume, and and that enables new kinds of user experiences. You know, the world that we believe will exist is um. Certain things will happen on different networks, just like today on the Internet, UM you have you know, Microsoft Azure
as well as Amazon Web Services. You have UM e C two ands three and all of these, and it's the developer's job to build on top of them in a way that makes its simple for the user. And so we've could flow as a computation chain, and that's it provides us in a level of um UH both low costs, environmental friendlness is by far the most environmental friendly blockchain. But at the same time, in NBA top shot, you can still spend bitcoin, you can spend ethereum because
those are great payment networks. And so we think that this kind of specialization UM will accelerate in the in the so called crypto winter UM but more and more users. There's there's a thousand x growth potential in in in this in this industry UM, and that's very different, and so that's what we're focused on. Okay, let's talk about the winter. I know you've been through downturns before. How are you evaluating this one in particular, and what's different
about it and how crypto survives it. I have no doubt Crypto has been through multiple downstairs. I mean, you
guys know that as well. UM, and, like I said, it's the only area in tech, one of the only areas where there's a direct thousand x increase in terms of the market size that we as software developers UM can can accelerate just by building products that that people you that add value back to fans, and that make it easier and easier UM to build on top of this technology which is still UM quite quite challenging in
in many ways. So you know what is different about this down turn, it's a generalize downturn rather than uh, you know, the last last couple of crypto winters, which were sort of specific to to cryptom But at the same time we've seen in previous recessions UM the people UH, people's mentality changes, but they still want to engage in entertainment. They still want to engage in sports and gaming. They just want to get more value for their time UM
with their kids. They're gonna get more value for the money they're spending as fans and n f T S UM and crypto is all about giving value back to the to the fan, giving value back to the UM to the user. Because if you spend a dollar in a digital world, that's not crypto enabled, You're never going to get that dollar back. If you still spend a dollar and an n f T, it keeps giving back to you um and and at the end of the day,
it's liquid. You can transfer it, you can keep it forever um or you can give it to your kids, whatever, whatever it might be. And the ecosystem we're working on with our league partners at the NBA, NFL UFC is to say, well, look, let this be the backbone of a loyalty experience for each of those sports and in an environment of a crypto environment of generalized downturn, let's give back to the fan. Let's make sports a uh excitement um and entertaining activity that they can engage in
both digital and physical will fascinating. Rohan Gary Goslo, CEO of Dapper Labs in Bloomberg's own Shinali Bostic, thank you. We'll keep watching. The n s A, one of America's most secretive spy agency, is running a summer camp for teenagers, many of them across the country. Our reporter Katrina Manson joined one of those camps and is back to tell the tale. Katrina, what happens at an n s A
summer camp. My goodness, I mean they say they're trying to teach kids cybersecurity and encourage the leaders up tomorrow to come and join cybersecurity jobs. The Biden administration sees a five hundred thousand shortfall in cybersecurity workers, and this, the NSA says, is all to ignite interest in that at an early enough age that you can change their choices encourage them to become cybersecurity professionals. What happens, my goodness,
I saw kids programming drones. They were talking coding. Um. I know that they had plans for a Jeopardy game quiz at the end of the week, and they were handing out jen cyber dollars. These are fake money to encourage the kids to stay glued. And they try to do everything from keep keep lectures short just to ten minutes um. And there was a steady supply of snacks all day. So are they teaching kids to buy they
would say not. The n s THEY says, this is all about cybersecurity, encouraging especially young women and underrepresented minorities to to think about these careers and also boost cyber safety for teens who might be susceptible or vulnerable to cyber bullying, cyber stalking, those sorts of issues to equip them for this modern age. Having said that, although it's not a direct recruitment line, UM, kids who have taken this have gone on to join the n s A, d O d U, s cource and to cyber security
jobs in the commercial world. UH. They also have changed some of the requirements. The NSA doesn't actually teach these courses themselves. Institutions apply for funding, but they have to hit certain guidelines. One of those is to make sure they're teaching the kids to quote unquote think like an adversary. They also teach hacking, ethical hacking, they would say, and
they do discuss ethics. When I spoke to ethics teachers, I don't think they were discussing ethical issues at the n s A. Behind the n s A, and of course there is that Edward Snowden case whose whose locations keep coming UM, which raised huge revelations questions about the extent of the n s AS surveillance techniques. And I think it's fair to see this outreach is part of the n s A, which insiders used to call no
such agency, never say anything. Part of their come out part of them coming out into the public eye, um and becoming more public facing since well you wonder when they're going to start doing summer camps for adults given the six hundred thousand jobs. But away bloombergsktra to Manson, well you've already done sometime. Thank you so much for bringing us that story. That does it for this edition of Bloomberg Technology Wall Street Week with my colleague David Weston.
Coming up next, Larry Summers is with them who called the Supreme Court's decision to day appalling. That's next. This is Bloomberg