Twitter Bans Journalists and Amazon Under Lawmakers Scrutiny

in Illinois. Why lawmakers are questioning a rebuild And off the back of the collapse of FDx crypto firm, Amber has raised three hundred million dollars to tackle the damage done. Details later in the hour. First Foremost well muted into a week's training. Let's have want to look at how tech stocks were under pressure. Once again, it seems to be all about the Federal Reserve. The perfect person to talk us through it, Kenny Greifeld in the House. What a week. It was quite a week, and I have

some bad news. It was an ugly end to what was a very ugly week. If you take a look at the past five days for the SMP five hundred, you can see we have a little optimism at one point. That was on Tuesday, after those CPI numbers came out softer than expected, still seven percent handle. But in any case, then we had the FED and then it was just one line down. Since then we're gonna end lower on the SMP five hundred. If we break apart this index into the sectors, let's take a look at some of

the worst performers. You had communication services, you had materials, then you had financials as well, down two and a half percent or so. Consumer Discretionary is where it gets interesting. That was your worst performer on the sector level on this week, off about three point six percent or so. What's interesting to me is that it was Tesla and it was for dragging down that sector. So a tale

of old and new. But let's break this apart even further and look at some of the individual stories here. You have Goldman falling today by about one percent or so. That's, of course after reporting showed that Oldman is looking to cut up to four thousand jobs. That would be about an eight percent or so pull back again, that's according to people familiar with the matter. You had Starbucks off by more than one percent. That says news that Starbucks

staff are starting a three day strike. And I want to end on some good news because it is a Friday in December, meta platforms up by about two point eight percent. That falls an upgrade from JP Morgan citing their cost discipline Caroline. Unfortunately, margin is still the focus for many. Katie, have a wonderful weekend. Can't believe the holidays are almost upon us now. Before all that, we were all kept pretty busy today. I don't know about you,

but all eyes glued. And what happened with Twitter? After the platform, of course suspended the account of Arrival social network must Done, which had tweeted a link to a profile that tracked, of course, the flights of private jets of wealthy individuals, including you know Muskus. Then, of course a number of reporters covering Musque they posted screen grabs of the offending tweet and was actully suspended themselves. That include some pretty high profile journalists from the New York Times,

from CNN and other outlets. Here's what Elon Musk himself had to say about that. They're not special because you're eternalist, You're you're just your Twitter, You're in your citizen um so no special treatment, um doc, your docs you get suspended. In a story. Of course, this move has sparked a lot of questions. We'll try to answer some of them throughout the hour. First we get our Twitter expert in residence, Kurt Wagner. Of course, Elon must talking on a spaces

of which then Spaces immediately became inaccessible. We couldn't do our weekly spaces as we usually do. Just talk to us about just what an extraordinary story this is today. Yeah, I think it's just been a real example of Elon really managing on the fly, right, and he is coming

up with sort of new policies. He's coming up with decisions about suspensions, um, with things that you know directly hacked him personally, and then that is translated to the whole product, you know, in this case, within ours, right. And so it's just kind of a good example of how he's choosing to run Twitter, sort of how it's going to be difficult to understand exactly what to make of Twitter, right, because things can change so quickly and

so suddenly. Um. I think that's left a lot of journalists in particular kind of worried or confused as to what might be, you know, happening at some point in the future. As well. If we look at the other side and think, well, maybe he is really concerned about his own safety and worried cut but ultimately deciding to make the sort of decisions on the fly. How is that affecting not only journalistic world? And we might say this a bit inside baseball, but what about the advertiser?

What about the companies who want to use this as a way to get eyeballs of the consumer. Well, what we've been saying all along, right, is that advertisers in particular, they don't like uncertainty. They like to be uh, they like the platforms that they're on to sort of be boring. They want to know what expect. They want to know what type of content is going to be there, what

the rules are, how people are using it. Right, So, when things are changing overnight, when things are changing sort of drastically, um this quickly, I think that upsets or unsettles a lot of advertisers because that's just not how they're used to working and that's not what they prefer. And so I think from a business standpoint, that's where

the concern is. If the policy can change overnight to affect journalists in this case, you know what other policies could happen in the future that could affect a brand advertiser who was spending you know, thousands, hundreds of thousands of dollars at the service and cut some interesting news coming from another outlook about potentially Twitter still fundraising. Just briefly,

what do we know that? Yeah, there was a report from Semapore and it came out and said that they were raising money at the fifty four dollars and twenty cents per share that Elon bought Twitter at right, and um, in some cases, this isn't entirely surprising. We were just talking about advertisers being a little nervous to be on the platform. There's got to be some type of revenue

concern at the company right now. They're going to have these debt interest payments due in January, and so, you know, if you're having trouble making money making revenue through your business, maybe there's a way to kind of fundraise and make more money that way. So we'll see how many people are willing to sign up for Elon's version of Twitter now that they've had about six or seven weeks to see how he's running the company. But UM, I think to me, this speaks to a need of the company

in search of more cash. Always great to get your expertise. Thank you for setting us up so well. Happy weekend friend. Meanwhile, let's dive deeper into all of this. Jennifer Greigel, Associate Professor of Communications at Syracuse University, also of course an expert in social media, been part of our discussion on Bloomberg since the early days and must possible acquisition of Twitter and chickens coming home to roost in some way. Jennifer, Yeah,

not much has changed. You know. Maybe the gift though, is that Musk has just made it painfully obvious that it's time to go, especially for those journalists that we were just talking about, right and know about Kurt maybe he watches World Cup, but I am there watching what's happening. Uh, you know within the journalism world, um, specifically with an eye towards the free press. And maybe it's a good time to to step back and remember what that is.

It's it's supposed to be free from the government. Right. So well, we're thinking about like free speech issues and you know what are elon Musk's rights, you know, like he gets to have his free speech because he owns this, but the rest of us, well not so much, right, And uh, you know, the risk I think has really proven to be that we cannot have Twitter b at

the center of journalism. We don't want some type of you know, like Baron or you know, rich, you know, kind of mogul kind of deciding who is essentially authentic, should be trusted, who's a journalist, who who should be on there, who can say what and when? And uh, you know again, I think it's just for me, it's the journalism piece, and that's that's uh, something we need

to focus on more, Jennifer. The other side has been discussed that other voices have been suppressed for years, and in fact, I've been coverage of that, many of it being associated with right wing and right wing press. What do you make of that and whether or not we're deafening ourselves to certain sides of a conversation about Yeah, Um, I know, for one, I've been reading the Twitter files.

I think it's problematic and how the information has come out and then and not enough journalists have beent access to that, so we're getting kind of like, you know, pieces of those stories, you know, the kind of cherry picking, right, But for me, there's actually some insights in there. We have real cases into you know, how deeply connected the federal government was, you know, and with the content moderation teams.

That's concerning, um. But I know I was one of you know, maybe few out there raising alarms around what was happening around the New York Post when the hunter by in case came out and it was a little bit of crickets out there. But for me, it was

a case as to what is journalism? And I think that's showing up again, showing up again with you know, if you were just saying the suspension of you know, like Tony O'Sullivan at CNN, Ryan mack at at the New York Times, like they were reporting on this, and so again they didn't you know, hack any information. They did India compiled this uh yeah, this jet tracker right like that. They were reporting out what was happening. So what is news? And you know, can they share a

link to a New York Times story? You know that was uh you know sharing that information or was it because it was in a tweet? I'm just not sure. So for me, it's really a question of, uh, you know, what is news? Who's a journalist? And are they being censored on there? Citizen journalism though, has maybe it's the force of the crypto stare as well, in large part working in tandem with this narrative of Elon must taking

over Twitter. But it has been extraordinary that in some parts you have had direct access to some Bakmun freed Vara Twitter spaces in a way that never used to be the case, and journalism sort of the journalists being cut out in some way. Where where are we going to go to for our trusted sources going forward? Does Twitter still have a role to play? Do you think? Well, a big question for a while, like are the stock markets decoupling from the signals that used to be coming

sometimes from data sets like Twitter? Right? But when it comes to citizen journalism, I think that's you know, I would say different than having direct access to like, you know, somebody who's UM pitching an investment, right, Like, these are what we call sources there essentially news material and until it's vetted by a journalist, uh, it's really not news. So we have to remember that even in the case of the citizen journalists, you know, they may not be

UM even identifying as such. They may you just somebody who is there and uh, some type of crisis happened and they happen to be pointing their camera at something, and they should still be seen as a source. Um. And I think that's some of the struggle with citizen journalism is that, you know, maybe there is not the same type of ethical grounding. But this even gets more discussion. I would say, you know, what, what is the role of a citizen journalist more than say who is um,

somebody who's working for like state media for example. So I'm gonna just say one of the people that were suspended overnight, uh work for a Voice of America. And I would say that we need to start remembering that that is funded by the United States government. So you know, there's like the free press over here, and then there's there's also something else happening on Twitter, and for years

that hasn't been labeled. So again, like you know, some people watching sports and I'm just over here eating popcorn, be like, okay, US state media has been suspended. Did anyone notice, uh, you know, like okay, we got citizen journalists coming in. Okay, n sure, but like what are what is their role on? It's too so but for me. We have to remember the free press is what matters, making sure it's healthy and that it's it's not being controlled and kind of keep by, you know, some type

of rich overlord. Jennifer Greigel, Associate professoral Communications at Serokees University, Thank you. And some breaking news to keep the narrative going is that apparently you know, masku is saying Twitter spaces is back if you're missing it for those twenty four hours or so. Let's talk about Amazon because it is planning on rebuilding a warehouse over in Illinois after it collapsed in a tornado last year. It actually killed

six workers. It prompted actually an investigation by workplace safety regulators, but three US lawmakers say the e commerce giant should be constructing it with stronger safety features than existed before the collapse. Expensive SOPO has been across this store, and in many ways people the whole tornado and the effect and the havocate reaked on families. It put into start relief some of the issues about contacting people when they're in and working around Amazon, and indeed some of the

safety measures in place. Yeah, there was so there was a very strong reaction. Six people died at Amazon. It was more than fifty deaths as a result of this Cornator is pretty devastating event, and so Amazon was a piece of it. And at the time there is a lot of attention on our our existing building standards adequate to protect people if we are seeing more severe weather events, um,

and so that was a big emphasis. Now the latest thing is, uh, you know, there's in equations that Amazon's basically and the landlord is basically slapping up the same building that was there previously. And these lawmakers are probing Amazon with questions about, you know, precisely, what are you doing to improve the safety of this facility in the event that there is a recurrence of this event. But it is It is a difficult because storm shelters are

not required. Things that that may have protected these workers more are not necessarily acquired, They're like recommended. So a lot of the two goes back on them on the on the regulating side, what are they actually going to require, um, you know, industrial buildings to have to protect workers. Amazon did say in a statement that they strengthen their emergency response plans and tailor them to meet specific needs of

individual sites. I'm interested Spencer just all of this comes amid a macro picture where the pendulum kind of swings in Amazon's direction. They wanted they're an employer. Perhaps they're thinking more about employees who want the jobs looking for them, willing to come and perhaps work in these sorts of environments. And and I'm interested in also the spillover effects. We here just the UK their latest headline that we're going to get a strike. I think it's the first strike

in the UK from Amazon workers over in Coventry. What would workers at Amazon think about all of this at the moment, Well, it's hard to generalize, right, They've got more than really employees, and you have people in these facilities who are not satisfied and want to organize. You have other people who are perfectly content and don't want to organize. We've had some you know, quite a few union elections failed after this. Uh historic when in Staten Island.

Um and in terms of that you pay things. They're talking about striking in January. That's kind of a time of year when Amazon generally you know, whittling and staff down a little bit after the holiday conscient So I don't strategically, it doesn't seem to be like such a bad time. And also, the UK is about one tenth of the revenue of of U s Amagon, the primary monket So I don't know if you know, you know, takeet a sizeable number of people from that one particular facility,

it's gonna inflict much pain on Amazon. If workers really want to inflict pain on Amazon to get their attention, they're really gonna need a big movement or a concentrated geographic movement that that expands beyond this one facility. Because it Amazon's resilient enough to handle even a big strip and one facility, It's gonna have to deel really big work for for Amazon to ticket seriously enough to pay attention.

Now fascinating as you sit there in Seattle, and we see Starbucks staffing beginning a three day sixty store strike as well, So so something we keep on talking about. Spencer Soper, great to catch up with you, Happy weekend. Thank you. Meanwhile, coming up, Bloomberg Business Week's list of fifty most Impactful People in Business is out this week. We're gonna speak to one of them, Tom Oxley, CEO synchron who made this year's list with the company's brain

computer interfaces, its back by Bezos's backed by Gates. Will tell you why this is Blomberg. Bloomberg is out this week with our sixth annual Bloomberg fifty. It's a look

at people across finance technology. You name the industry that have defined global business in two one name that's out to us, and the list was Tom Oxley, CEO of synchron, which just completed a seventy five million dollar funning round because the company is backed already now by basils by Gates creates brain computer interfaces known as bc ies that can interpret, can stimulate parts of the brain, and as

seen as possible treatment for brain injuries. Tom joins us now and if anything is at the cumming end of technology, you are brain computer interfaces, the way in which you can treat debilitating illness, the way you can transmit thoughts sort of wirelessly to digital devices. Tom talk to us about if you can basically how this works. Technology has been around for twenty years. The challenge for commercialization has

been to make it fully implanted and safe. And our what we do is we figured out how to put the devices inside blood vessels inside the brain. It detects from the part of the brain that controls the movement in the body. We digitize that signal, bring it out of the body, and then we use it to control computers so that patients who are paralyzed can restore their ability to engage with their world through a digital ecosystem,

which which you and I take for granted. Yeah, suddenly being able to share SMS is what'sapp messages, were able to order food online? Do your bills or credit cards as extraordinary? What they can be used for? The way in which you talk to investors. Of course, having those conversations with Jeff Bezos, with with Koesler, of course, you know Cosler one of your first backers. What is it about time frames? What is it about pacing that you

talk to them about? A Class three medical device is a very long journey, So the time frame is long. But we've been at this for ten years. Actually, we've been in discussions with FDA to get this clearance for the study that's happening in the US currently, we just a third enrollment happened with the implant happening this week at u p MC in Pittsburgh. So we're moving along,

but we've still got several years to go. The next step to the serious C financing is to launch a pivotal study that will take us one step closer towards commercial lodge the people, the impact the market sort of how many could this help? Tom, Paralysis is a very large problem when you think about it, not as a particular disease state, whether it's stroke or spinal cord injury

or als or multiple sclerosis. Many ailments or injuries can impact the body's ability to control the muscles in your body. So we actually think there's a hundred million people worldwide who have lost the ability to use their hands to control digital devices like you or I do. But where we're starting as the most severe end of that spectrum, for people who are unable to engage at all the digital systems and complete completely depend on a loved one

or a caregiver for their for their daily needs. We're looking at footage now of just in the way in which this can potentially be revolutionary for people who have lost the ability to communicate in that way. Tom, You're there. Brooklyn talked to us about at the moment it's regulation and a moment it's making sure that you're getting the right test results and showing that you're hitting all those sorts of hurdles, But what about talent, what about where

you grow this business? How have you been able to do that. We are excited we're going to set up in the Bay Area, and we made a decision to stay in New York primary. We're setting up here in the Brooklyn Navy Yard. We've grown to fifty people, and we the people coming into the company, share a lot of New York City, so we've got a really interesting mixed here and very passionate and talented people that are really loving being inside New York City. A lot of

our investors here. Our chief medical opposite, Ja Moco at Mount Sinai is here locally. We have a Dave Petrino who's running the Mount Sinai, the Mount Sinai Study, So we were We think New York is a great place to be doing medical device innovation. Great to have some time with the Tom Oxley congratulations, it's wonderful to have you on the s S chron Of course, be sure that's check out this week's issue a Business Week and you'll get all the deep dive on some of these

incredible entrepreneurs. Welcome back to britte Bag Technology. I'm Caroline Hide in New York and joining us to well deep dive once again into the world the extraordinary day, this extraordinary six weeks around Twitter. This time, of course, we're going to discuss the banning of accounts of certain journalists. Great voice Jason Goldman, one of the founding members of Twitter, former White House Chief Digital Officer under President of Barmber.

Of course you've got an insider outside of perspective here and Jason first and foremost. When we think about whether Elon Musk at the moment, many would say yes, we don't always like the way in which he acts and gets there, but you can't. You can't back against him. He always gets things done, the success he has with Tessa, that success he has with SpaceX. But at the moment, is he acting from your perspective like a rational business

leader or erratically in some way? No. I think he's acting very erratically and motivated based on his own political preferences and the issues that activate him the most. This ban that occurred last night for a variety of journalists was motivated by a fear that he had for his family, and no one can no one can doubt a fear that a person has for their family. But in fact it seems fairly unconnected with the Twitter account that was tracking his jet movements. You know, there was no post

from that account on Tuesday night. This paparazzi incident he happened, happened on Tuesday night away from an airport, and yet he somehow decided to blame this jet tracking service. But not only that, he banned journalists for even just linking to the account of that journal of of that of that plane tracker. He would have been much better off just saying anything that talks about my family is off

limits on this service that I now own. But instead he's trying to formulate this very convoluted, pretextual policy and presenting it as a protection against doxing. And it simply doesn't work because it's really about his own personal fears and motivations. Jason. What's interesting, and I suppose what many have been uphended by, is the idea that he bought Twitter because he's a freedom of speech absolutist, as the

way he sort of turned it at the time. And now these sorts of movements don't seem to work in that But what's interesting is the way perhaps he brought back previously banned accounts like one Donald Trump was. He went on a Twitter poll and he asked the audience, and he's done it again. We understand, of course he's gone and said, look, should I be actually banning these journalists for should I unbanned them immediately? Shall I leave it for seven days? The poll seems to say that, well,

he should lift the band. Do you think he'll stick to that at the moment, Jason, do you think he'll use that again because he followed the pole previously. He'll he'll unband the journalist, not because of the poll, but because he's he realizes that he's messed up in this situation.

He realizes that this was a bridge too far, and that he's he's now going to try to make an attempt like see, you have to file rules, but the outcry over it is simply going to be too much, and he's going to unban these journalists because he doesn't want to have to deal with this. He doesn't want

to have to deal with this untenable issue. And it's true that he did present himself as a free speech absolutist, but I think Anyone with a fair reading of the facts, even from back in April, would have seen that this was just pretext for him advancing very specific political views. He's now going on to endorse a Republican ticket. He is very specific about the woke mind virus that is

destroying the United States. And he's been silent on other important free speech issues, such as Chinese dissidents who use Twitter outside of China to coordinate protests, and the protests in Iran uh that are are are are being done to help advance pro democracy movements. You know, Twitter has been a tool of free speech and for democracy advocates since before Elon Musk has had an account, And he doesn't care about those issues because he's not really motivated

by free speech. He's motivated by what serves his own parochial interests. It was interesting we asked our own audience for our own app technology handle on Twitter about whether they think ultimately the end goal of freedom of speech is being achieved by long Musk right now, and at the moment they don't think it is. Jason and I'm interested interested is to whether in the longer term we will see that eventually occur, or will we see people

push to other social media platforms. What's so interesting, and you referenced it yourself, is that a rival master Don seems to be having all of its links basically banned. Its own profile was banned because it linked to Elon jets, but now anything that people are linking to in terms of social media put on that rival social media platform seems to not be getting through either. What do you

make of that? The competition focus too, that's right, and I think my my prediction for Twitter has long been that it's not going to die overnight, but that it will become more broken and more stupid. And I think that's what we're seeing play out, and that as a result, people will find other places that they want to hang out. Whether those are public places like massdon are private places

like Discord. They're simply not going to want to be on a service where the main character every day is Elon Musk and it's simply tracking you know, what new shenanigans that he's gotten up to and what policies he's decided to invent out of peak and anger. You know, one thing I would say, one thing I would say to Ellen about this and his and the and the very real moves that he's making to drive users to other platforms because of the anger and peak that he's

pursuing these new policies with is. I know Ellen is a big fan of Frank Herbert's Done. It's a book that he's quoted, actually misquoted on his tweets before, and I'm a fan of Frank Herbert's done as well. A proper quote from doing that I would encourage him to reflect on is a stone is heavy and the sand is weighty, but a fool's wrath is heavier than them both. And what we're really seeing of with users going to

these other platforms is the result of a fool's wrath. Well, it's interesting, is as I said before, people's belief in Elon Musk And we've spoken to vcs who are still very much supportive of the SpaceX fundraise that's going on at the moment. For example, they don't feel that they can bet against him as a leader, even if you say, perhaps he's letting foolish mindset perhaps pervade his overall actions at the moment. Twitter currently we understand this reports outher

that it's raising funds at the moment. Once again at fifty four twenty price is do we think people are going to be interested in this investment. I think it will get filled. I'm sure there's Elon fanboys out there in the in the tech world who will be happy to be in business with them for the reasons you say. Maybe it allows them to get friends and family in the space x I p O. Or they just want to be involved with Ellen long term. I'm sure the space x I p O will work out, will work

out well. Uh And you know, even though Tesla is down over on the year to date, you know, maybe there's maybe there's a case for Tesla longs as well. The differences is that Twitter and the moves that he's making with Twitter are just destroying brand value. Twitter has always had an excess of brand value beyond its business value. It's always succeeded because it attracted the important real time conversations among journalist, media personality, celebrit Reeason, so on. And

he is actively driving away those use cases. Even before these bands, he's doing that, but now with the moves that he's making the last twenty four hours, he's showing that it's just simply not a place for those conversations. That he had. Additionally, you know, Ellen purportedly someone who's

concerned about safety and his own family safety. I'm sure he is concerned about his own family safety, but we have to remember that he also, in the course of putting out the Twitter files, has endangered the lives of employees who used to work for the company. You know, Trust and Safety had. Yoel Roth had to flee his home, reportedly because Ellen helped propagate a false story that Ellen

that Yoel was soft on child sexual abuse material. I mean, that's deeply irresponsible coming from the CEO of a social media company, and I think it should give anyone pause about the future of Twitter's trajectory. Jason Goldman, former Twitter founding team, memorables former White House Chief Digital Officer, and

the President Obama. Thank you have a wonderful weekend and interesting that Jason was there talking about brand value of Twitter, but also brands with value of what ago and advertise on Twitter. What does that look like in the future. It's already been perhaps questioned at the moment, already been dealing with some major brands dropping off the social media platform.

What are the other opportunities for them? And pleased to say that Nick Buzzle, CEO and chairman of the content production company and VTV is here in the studio in New York. Great to have some time in the next Thank you for having me. You're a man who has expertise within the digital media space, within director consumer but also in previous life operations of Big Fuel, which is

a social media sort of first digital company. And I'm interested in what you think of Twitter at the moment and what companies you speak to are looking for advertising opportunities are thinking about it. Well, thanks for having me, And you know, I think brand safety is really important. A lot of brands are concerned about the volatility of

platforms like Twitter. I know that YouTube has had challenges in the past, and brands, I think are looking for a safe place to tell their stories and connect with their consumers and with the corporate responsibility of being a good brand and not getting caught up in all of the antics that seemed to be going on over there.

It's a it's a wild ride for sure. Talk to us when when we're thinking about how a brand wants to interact with a consumer right now, and you're doing things with MBTV, Spirits network is and of course newly launched Gulf Nation is what you're currently bringing the content and also the opportunity to directly come to me who's viewing, and I can buy something that I like very seamlessly within within the content creation experience. How would people reacting

to that in this environment? How are they seeing that as a more trust in space. It's been really effective. I mean, we're not a social media network, so we're closed network and we tightly control our programming and content. We've been called Netflix meets QVC, so we're creating a lot of premium original content we're free to watch. You can go to Spirits Network dot com or Gulf Nation

dot com. Both of those channels operate very similarly, where consumers can watch and purchase what they see and have it delivered directly to their home. The response has been

really great. Spirits Network, who has been around for the last three years, we've had tremendous amount of success working with large global brands, specifically beverage alcohol, and then we also saw that a lot of our data set the consumers inside of Spirits that collected golf, so we decided to take advantage of it and launch Golf Nation with

the same idea. Of lifestyle programming with consumer shopping, and I think consumers are tired of interruptive ads and commercials and they're looking for an alternative way to really connect um and big media, especially streaming media, is struggling right now with figuring out new business models and trying to connect with consumers where they spend their time. Well, it's interesting you say struggling. Netflix actually had pretty poor week in terms of its share price. It fell a lot

yesterday because it's new advertising tier. There were reports that it wasn't landing and quite the way they expected it to Talk to us about just at the moment, whether advertisers are willing to spend in this macro environment in Spirit, networking, golf Nation. Are they wanting to commit money to marketing? Well, the beauty of our offering is that we can actually show attribution from views and impressions and eyeballs to ails. I think consumers are looking for a better experience. I

don't think TV is broken. I think the consumer experience with TV is broken. Advertisers are looking for a way to reach consumers where they're spending their time. So we're spending a lot of our time on CTV as well, as mobile, so the connected TV universe, and we're finding that that's an opportunity for advertisers to get in front of consumers. The Netflix news recently was not only about some challenges they were having with over uh in terms

of reaching audience, but it was more about supply. There seems to be a challenge with inventory and the connected TV market, and so by creating more content, you're essentially creating more, more inventory, more supply. Consumers are still watching more content than ever, and I think even though there might be some challenging economic times ahead, advertisers are taking advantage of it to build brand equity also to become storytellers.

And now more than ever, advertisers have to separate their products in the market. So advertising and down times is often sometimes overblown, and I think people are still going to spend money and I think, um, you know they were going to do it more wisely. So advertisers half the show as well as tell and we're doing it with us. Of course. You can get it right in your hands, Nick, Great some time with you, Thank you, Twitter,

the Spectrum on Netflix, We've got it all. Nick buzzil Because CEO and Chairman of m B TV we're going to talk about the embattled crypto firm Amber. It's actually just raised three d million dollars and the company CEO says that the new cash will be focused on customers who actually lost money on the platform's products due to

fd x is implosion. Joining us to discuss the Bloomberg's Hannah Miller, who wrote a great story with the CEO, and it's interesting they originally were raising money to expand at what was a three billion dollar valuation and then suddenly had to pivot and raise money for a very different reason. Yes, they put this one hundred million dollar

funding around on pars. They were raising that money in multiple parts, but with the collapse of the ft X, they had to switch gear years and they actually raised three hundred million dollars to help their institutional and high net worth clients who were affected by the collapse of f t X. And this was raised at a lower valuation than three billion dollars. What about the growth or there in the company as well, because this was had

much coverage when they first launched. Ex Morgan Stanley Traders coming up setting up helping the institutional world get into the world of crypto and well I mean, they grew very fast and now seems to be having a wine that. Yeah, this company is going back to basics, that's how we're looking at it. They have completely ended their services to retail customers and they're only focusing on institutional clients and high net worth individuals. So they're they're going back to

where they started. Uh. Their workforce at its peak was eleven hundred people. That's now being trimmed down to over three hundred. So that's a huge, huge step back. But I guess unsupplising when volumes have come down so much as well, did he give you any take on and how the market is going to continue to evolve, what sort of clients are going to be serving? Yes, So their overall trading volumes have shrunk. Uh, they had about ten percent of their trading capital trapped on ft X

when the exchange collapsed. Since that trading volume has decreased, Uh, that percentage has increased of what they have on f t X. So looking ahead, they're hoping that by refocusing drilling down to you know, just work with institutional clients, that they can have a leaner, more successful business. And the CEO is adamant that they will be here in does he think everyone will be here in? What about?

I mean we've only got a minute left, but contagions still looking you can serve for him, Yes, I mean contagion is a serious concern here. They are definitely a firm in the crosshairs, especially after ending a high profile sponsorship deal which l CFC. So there's a question of whether they'll be pointing back on other deals, including with Athletico Madrid. Um. So all eyes are on this company in Asia. Their based in Singapore, so it will be interesting to see what the year has had for them.

We seem to keep coming back to marketing and businesses willingness or potential ability to invest in it at the moment, Hannah Miller, we thank you so much all the world of crypto their Meanwhile, coming up, as we head towards the end of our final edition of Broombag Technology for the year, that is, we're like ahead to the CEO Solo Wins joins next to preview the trends that will

shape i T next year. That's the broom Bag. So today it's the last edition of bloom Bag Technology for the year, and so we're going to look ahead for you Solo Winds is out with the top trends that will be shaping the I T space next year. Pleased to say that the CEO is with us, Sadaka Rama Krishna. So it's great to have some time with you and Daka talk to us about what you see in terms

of we're all worrying about macro headwinds. We're all worried about companies not being able to spend on marketing as much as they would. What about the internet infrastructure, what about their technology? What about investment in R and D. In that respect, you worried about the pulling back and the brakes. Lare first of full Carolin, thank you for having me here. I'm really happy and excited to be here. It is true that we are in a very unique

macroeconomic environment, but this needs seem paradoxically. But the interesting thing is the need for digital transformation and is actually accelerating. So to that end, solutions that serve customers with timely value are becoming even more relevant and critically in this environment. I'll highlight to real trends and reasons for that. One is the complexity of every customers environment is actually increasing due to multi cloud hybrid solutions, hybrid work, remote work,

and so on. And two is the costs or the budgets that they have commensurate to their complexity is not increasing, so in that there is a unique opportunity for solution suppliers to give the best time to value to customers by delivering simple, effective solutions that enable them to manage their environments more effectively because they don't have productive time

on their hands today. How do you then, in this extraordinary environment we find ourselves and with a lot of I'm sure competitors trying to woo those checks from the similar clients you have, how do you set yourself about what are the sort of key areas you focus on that are going to make a CEO or leader or

a business that much life easier. Absolutely. First of all, we have the pleasure of serving three hundred thousand customers all over the world, so we have our healths to the ground and understanding of their customer requirements and dynamics on a daily basis. What is most important to customers these days is simplicity in everything that we do, not just the solutions that we offer in terms of their easier use, but how easy are we to do business

with and the business models associated with it. So, for instance, recently we introduced the notion of a note based price, which helps customers simply deploy our solutions without having to worry about how many network filds do I have, how many applications do I have, and so on and so forth. So that just makes it easy for them to engage with us. So simplicity in everything that we do. Related to that is the time to value that it takes.

Customers do not have eighteen month pricing and packaging and deployment cycles when they make a procubant decision. They need to see value of those solutions immediately and almost instantly. So that is the other dynamic that we differentiate on and then we built from there into remediation and automation related capabilities, all to unlock productivity at a reasonable cost

for the customer and with safety as well. First and foremost particular people are working in the office, they're working remotely. There's gnomes make for more vulnerabilities. Now, so okay, I know this is sort of a difficult, perhaps question and at times probably feels repetitive. But back in of course, your name Solo Wins was embroiled with what the hackers that managed to infiltrate your own software? How are you

looking to ensure that just doesn't happen again? And it isn't going to be a theme of twenty three for other people. Unfortunately, it has remained a theme in twenty one and twenty two. Even though the spending on security

has gone up. The number of security incidents, very high profile ones since what we were inflicted with, have continued to And my belief is we all need to continue to work together in a partnership with the public and the private to deliver what I call it the community vigil And that's the only way we can improve no company, how mad, no matter how good you are, or how large you are, or how many resources you're spending, immune

to it. And so we have taken an approach of secure by design and over the last couple of years, as ignic as it may sound, we've actually built a significantly greater level of trust with our customers in terms of how we manage through the situation and built secure by design. Criticis so that is what I would recommend to everyone. Transparency, collaboration, urgency are the key things to drive on a foundation of humility, Sica great tis in time with you, Happy well. Holiday is a new year

of course. Sa Rama Krishna, the Solo Wan's CEO with his outlook for three and look that does it. There's addition of room by technology for to need twenty two in Blomberg Technology. We're going to be back in January to continue to bring you the biggest, the best out there in terms of the technology the innovation space. Do not forget to keep checking out our podcast. You can find us on the terminal on Apple or Spotify and I heart keep checking us out on Twitter, Twitter Spaces.

From New York, this is Blomberg