YouTube Is Also at Risk After Russia's Facebook Ban
russia is ramping up its ban on,information a court banning both,facebook and instagram the meta,platforms now officially blocked across,the country this is the first time,russia's sweeping extremism law has been,used against a foreign tech company,joining me now bloomberg's kurt wagner,as well as david kirkpatrick founder and,editor-in-chief of taconomy kurt i want,to start with you here facebook and,instagram were already banned in russia,how is this different,yeah as you pointed out they were,blocked i believe instagram was just,last week and facebook has been a couple,weeks now and and what this does is,my understanding is it makes it actually,um,an issue it's a crime if you are working,for one of these companies if you were,supporting one of these companies you'd,be considered,supporting you know extremist behavior,or an extremist corporation and so i,think,it's clear if you're an employee that,would be a problem facebook says that,they don't have employees in russia,right now um but i think that raises,some questions around what happens if,you're an advertiser on one of these,platforms what happens if you're a an,investor who owns stock in one of these,platforms is that considered a financial,uh support of of a meta in this case and,i think that's somewhat confusing still,but ultimately you know it just makes,these um the band much more official,than just a simple block,a lot of interesting questions there,david curious for your take on this it,seems to be a rather rare example of,facebook coming off looking like the,good guy,it's true uh i think this is the first,time i've been on your show in a long,time where fundamentally i have to say,facebook,is the good guy facebook was providing,genuine information in russia yes it was,banned but this new legal ruling,is,turning the screws even tighter although,we have to be aware in russia there,really is no legal systems of the type,that we know the courts are simply a,rubber stamp for whatever the government,decides so yes it's true that uh,advertisers or even users of facebook,could be in jeopardy but given the,nature of the way russia works if the,country if the government wanted to come,down on those people it could do so for,whatever reason it chose,but facebook look the best thing that,could happen to them right now would be,another arab spring which would,basically show the world that they,actually can be used for good things,because they're in the doghouse for all,kinds of reasons otherwise,kurt what are the chances this could,lead to criminal charges against,facebook and instagram employees,i think that's the idea i i believe that,if you are you know an employee who's,working at the company um you could then,be accused of you know aiding this,extremist considered extremist activity,right now again i talked to someone at,facebook earlier this morning i was told,that they don't have employees in the,country right now but it does raise some,questions around,perhaps russian nationals who work for,meta or facebook,in other countries right if they're seen,to be working for meta maybe they don't,live in russia now can they can they,return to russia at some point maybe,they have family there what happens,there so it's definitely a complicated,issue um that is is creating you know,some questions at meta today,so far whatsapp met which is another,meta platform doesn't appear to be,blocked and it doesn't appear that that,twitter and youtube have fallen under,this this law either david what do you,make of that,well i would probably say it's just a,matter of time probably in all three,cases,certainly whatsapp has the virtue of,being invisible to the authorities,because it's entirely encrypted,so they can't really see what's,happening inside it,um,but i wouldn't be at all surprised if it,were later uh decided that whatsapp,constituted a threat all they have to do,is see evidence that it's causing,problems for them like i said before the,government of russia can act by fiat on,anything they want any time and in terms,of of youtube in particular there's been,a lot of speculation today that youtube,might be,very shortly to experience something,very similar to what facebook and,instagram have seen twitter it you know,obviously,twitter would be a very logical,candidate for shutdown as well
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Open Challenge to Bloomberg Press - The Fix (Part I)
Open Challenge to Bloomberg Press - The Fix (Part I)
good evening,any of you,who personally tracking me are aware,that,i am an ex-corporate russia,and i dealt with,many banks of the globe,which includes bank of america,royal bank of scotland,citibank,deutsche bank,standard charted,ubs,and many,and i have repeated this many times that,in,2007 i used to believe basically i,started my treasury career in,2007.,in 2007 i used to believe that the,bankers,especially the head of,institution just like,head of bank of america head of ubs head,of barclays,i strongly believe that they are nothing,but an alien,alien in the sense like they,knew many things they must be,the super intelligent people in the,world,but now,with the passage of time,you know what i mean,and you know i am an avid reader which,means that,and i would like to thank you amazon for,helping me in the sense like,amazon is a platform whereby you have,millions of books,and whatever book you like you can order,it and it will come at your place,and being a prime member we are getting,lot of benefit from amazon we i,personally thank you amazon,for creating such a healthy platform for,the book readers,one of the books which i bought very,recently is this book which is by,which is titled the fix,which is by,the bloomberg press you can refer here,this is by,the bloomberg press,this is the fix,and you can see that the basically the,highlighters which i'm using you can,also see that i'm making notes in the,books just like i'm showing this to you,everywhere in the book you can see that,i am making the notes wherever you see,i'm making the notes,i never read books for the sake of fun i,read the books for the sake of knowledge,and nowadays i am reading the books to,check the level of stupidity,by the authors,you know guys this book which i am,talking is on the libor,manipulation basically how live or,manipulated and how did the big banks,including inter-dealer brokers they made,a huge quantum of money,huge,unprecedented,even today which is after,around around 16 years of libor,manipulation,i can challenge the so-called department,of justice,united states to tell me the exact,benefit,these big banks,got,they got tremendous quantity of the,benefit,you know when i start reading the book i,got to know the stupidity of the authors,i have to say that,both the authors which is liam walken,and gavin finch,are completely unaware that how a,treasury function in a multinational,bank works,because here the libor manipulation are,not done,by only one institution,so here you have an example of credit,suisse,you have an example of citibank,you have an example of ubs,you have an example of barclays,you have lots of examples and many banks,i would say,were deliberately not mentioned,because in a lipo manipulation all were,involved,it is not that,only few are involved all were involved,so when you are using a word called,inter dealer broker,it effectively means that everyone is,involved,but this book outrightly miss that,more importantly,what this book missed is an exact,differentiation,between cash trade and future trade,cash trade,is a complete different concept,just like sofr,secured overnight financing rate,and,many other,like estr european short-term euro,short-term rate,you have soraa you have cerrone,and many other they are based on cash,market,and this book failed to explain,the difference between cash market and,future market,you know guys let's take an example of,goldman sachs,which is basically 150 year old,institution,what do you think how the treasury is,composed of goldman sachs,can we have one two five ten percent who,can handle the treasury of goldman sachs,the number one investment banker of the,globe can we have,no we cannot we even cannot assume that,that one two three five people can,handle the treasury we cannot assume,that,so when we speak about the big banks,like credit suisse,ubs,barclays,city,and many other those who,find just a,penny amount,their treasury composition is completely,missed here,how the ficc which is fixed,income currencies and commodities desk,operates in big banks like goldman jp,city,ubs spark place it completely missed,here,not a single chart,you will see in the whole book,not a single chart,how the p l of a bank is composed,example today let's take a simplistic,example,barclays is taking our derivative,position with jp morgan,example suppose it is fra forward rate,agreement between barclays and jp morgan,assume barclays is on the asset side,common sense jp morgan is on the,liability side,sheer common sense,now barclays who is on the asset side,they have a separate impact of that fra,in their pl,it depends on the tenor of the piano,generally uh tenor of the f rh,maximum it is,you know 12 into 24.,so would be jp morgan,what would if an entertainer broker,is involved in between,but this configuration is completely,missed here,completely completely missed here,this configuration,how banks those who manipulated the lipo,how their eps,swings,it completely missed her,and how,you know the other,lib
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'Bloomberg The Open' Full Show (06/07/2022)
'Bloomberg The Open' Full Show (06/07/2022)
>> EVERYTHING YOU NEED TO GET
SET FOR THE START OF U.S.,TRADING, THIS IS "THE OPEN"
WITH JONATHAN FERRO.,JONATHAN:
LIVE FROM NEW YORK CITY, WE,BEGIN WITH A BIG ISSUE, PROFIT
MARGINS TAKING CENTER STAGE.,>> THERE ARE SO MANY PRESSURES
ON MARGINS.,>> BUSINESSES FEELING THE
PRESSURE OF LOWER MARGINS.,>> THE MARKET NEEDS TO PRICE IN
A CHANGE IN THE PROFIT OUTLOOK.,>> WHO IS ABLE TO HOLD ONTO
MARGINS?,>> LISTEN TO WHAT CEOS ARE
SAYING IN THE EARNINGS CALL.,>> IT IS A LONG LIST. YOU ARE
SEEING ALL OF THESE CEOS ,,THEIR CONFIDENCE IS WINNING.,>> YOU SAW THE TARGETS OF THE
WORLD. THE STOCK WAS CRUSHED.,>> THEY CANNOT PUSH THIS
INFLATION AND BASE PRICES ONTO,CONSUMERS.,>> THE TAIL RISK IS STILL
ELEVATED.,>> THERE ARE A LONG LIST OF
RISKS.,>> YOU HAVE TO LOOK AT THOSE
AND THINK THE SHARKS ARE,CIRCLING A LITTLE BIT. JONATHAN:
I BRITISH I WATCH THIS MOVIE,PLAY OUT THREE WEEKS AGO.
-- I AM PRETTY SURE I WATCHED,THIS MOVIE PLAY OUT THREE WEEKS
AGO. KAILEY:,YEAH, THE SECOND CUT TO OUTLOOK
TODAY.,THE STOCK IS DOWN 31% AND LOWER
ANOTHER 7% THIS MORNING.,OPERATING MARGINS FOR THE
SECOND QUARTER WILL BE AROUND,2%.,-- THE PROBLEM FOR TARGET IS
DEMAND IS SHIFTING RAPIDLY IN,THE FACE OF INFLATION TOWARDS
THINGS LIKE STAPLES AND AWAY,FROM DISCRETIONARY CATEGORIES.,THE STORE HAS TOO MUCH
INVENTORY FOR ITEMS CONSUMERS,DON'T WANT.
IT WILL TRY TO CUT DOWN ON,THOSE AND MARKDOWN MORE FOR
EXCESS MERCHANDISE.,DISCOUNTING IS COMING, THINGS
ARE GOING ON SALE AND THAT,MEANS LESS PROFIT.
TARGET PLANS TO TAKE OTHER,ACTIONS LIKE ADDING STORAGE
NEAR PORTS AND ADJUSTING PRICES,TO OFFSET TRANSPORTATION AND
FUEL COSTS.,THE ABILITY TO EXERCISE THAT
PRICING POWER, GETTING MORE,DIFFICULT AS THE CONSUMER
BECOMES LESS TOLERANT OF HIGHER,PRICES.
TARGET IS NOT THE ONLY ONE,GRAPPLING WITH INVENTORY ISSUES.
HAVE SEEN BUILDUPS ACROSS THE,BOARD TO 30% TO 40%, T.J.
MAXX, YOU NAME IT.,IT RAISES THE QUESTION IF THESE
EMPLOYERS WILL HAVE TO START,DISCOUNTING TO GET INVENTORY
DOWN.,THIS IS TO BE AN INTERNAL
TARGET ISSUE, THIS IS A COMPANY,THAT HAS MISMANAGED ITS
INVENTORY. JONATHAN:,THAT IS THE NUMBER ONE ISSUE,
THE BROADER SIGNAL HERE.,THIS IS NOT JUST ABOUT A SINGLE
NAME. YOU MENTIONED DISCOUNTS,,MARKDOWNS.
THIS IS NOT AN INFLATIONARY,STORY, THIS IS NOT ABOUT ASKING
ON HIGHER COSTS, IS DIFFERENT.,KAILEY:
YOU ARE TRYING TO GET THE,CONSUMER TO BUY THESE
DISCRETIONARY ITEMS THAT TARGET,HAS.
MANY THEY'RE LESS WILLING TO GO,OUT AND BUY THAT TELEVISION.
FOR DISCOUNT -- FOR TARGET, IT,MIGHT MEAN HAVING TO MEET THEM
WHERE THEY ARE. JONATHAN:'S,STOCK IS DOWN 7%.
JOINING US IS TONY RODRIGUEZ,AND IS AT GRIFFITHS.
-- AND ZACH GRIFFITHS.,HOW DIFFICULT IS IT TO TAKE A
SIGNAL FROM TARGET AND OTHER,RETAILERS? ZACHARY: IT IS TOUGH.
TO US, PERHAPS THESE MARKDOWNS,BECOME A BIGGER PART OF THE
STORY FROM AN INFLATION,PERSPECTIVE, A MORE MACRO
PERSPECTIVE OVER THE NEXT,COUPLE OF MONTHS.
WE ARE NOT SINGING RIGHT NOW.,WHEN WE THINK ABOUT WHAT WE
EXPECT FROM INFLATION ON,FRIDAY, WE EXPECT INFLATION TO
SHOW IT IS NOT COMING DOWN,SLOWLY.
IT IS TOUGH TO SPREAD THE,MESSAGE FROM TARGET WITH WHAT
WE ARE SEEING AND EXPECTING BUT,IT IS SOMETHING WE WILL BE
KEEPING AN EYE ON. JONATHAN:,TONY, IS THIS A CHANGE IN THE
STRENGTH OF THE CONSUMER OR A,CHANGE IN THE BASKET AND WHAT
GOES INTO IT? TONY:,GOOD MORNING.
I THINK IT IS A COMBINATION OF,BOTH.,IT IS A CHANGE OF -- AS PEOPLE
ARE SHIFTING FROM GOODS TO,EXPERIENCES AND SERVICES.
PART OF IT IS ALSO A LOWER,AMOUNT OF SPENDING GIVEN THE
HIGHER PRICES WE ARE SITTING,ACROSS THE BOARD, ESPECIALLY IN
AREAS THAT HAD THE POCKETBOOK,QUITE A BIT.
WHETHER HIS ENERGY PRICES OR,FOOD PRICES, ETC.
YOU SAW THAT FOR EXAMPLE IN,HOUSING.
HIGHER RATES, FED ACTIVITY,,ETC..
IT IS A LITTLE BIT OF BOTH THAT,IS THE READTHROUGH FOR THE
BROADER ECONOMY. JONATHAN:,THIS IS A CONVERSATION ABOUT
SPEED. IT SEEMS TO ME A LOT OF,CORPORATIONS AND NOT JUST
RETAILERS ARE REALLY STRUGGLING,TO GET A READ ON DEMAND IN THIS
ECONOMY, WHERE IT IS AND WHAT,THE DEMAND IS FOR.
WHAT DO YOU MAKE OF THAT?,TONY:
I THINK IT IS WHAT THE FED IS,HOPING TO ACHIEVE WHICH IS A
DECLINE IN AGGREGATE DEMAND.,THEY'RE LOOKING AT INFLATION
EXCEEDING LEVELS THEY ARE,COMFORTABLE WITH.
THE TOOLS THEY HAVE TO BATTLE,THAT CAN AFFECT SUPPLY CHAIN
AND ENERGY PRICES.,AS THEY STARTED ON THE RATE
HIKE CYCLE, THE MARKET HAS,FULLY PRICED IN A SUBSTANTIAL
AMOUNT OF RATE HIKES.,YOU ARE SAYING THAT IMPACT ON
AGGREGATE DEMAND.,THE BOTTOM LINE IS WE EXPECT
SLOWING IN THE ECONOMY AS WE,MOVE THROUGH THE YEAR.
THIS IS ONE EXAMPLE OF HOW YOU,START TO SEE THAT PLAY THROUGH.
RETAIL HERE BEING THE EXAMPLE.,JONATHAN:
ZACH, YOU THINK INFLATION CAN,PERSIST AND YIELDS GO HIGHER.
WALK US THROUGH IT. ZACHARY:,EVERYTHING WE ARE SAYING IN THE
MACROECONOMIC DATA SUGGESTS,INFLATION IS BROAD-BASED AND
YOU ARE GETTING ADDITIONAL,DIFFICULTY FROM THE ENERGY SIDE
OF THINGS WHICH WILL BE MORE OF,A NEAR-TERM STORY.
FOR US, IT SHOWS THE FED WILL,HAVE TO GO MORE AGGRESSIVELY
THAN THE MARKET IS PRESSED FOR.,WHEN WE THINK ABOUT THE MARKET
FROM A TERMINAL
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Best of Bloomberg Technology, 2/2/18 FULL SHOW F
Best of Bloomberg Technology, 2/2/18 FULL SHOW F
I'm Emily Chang and this is the best of,Bloomberg technology where we bring you,all our top interviews from this week in,tech coming up the tech earnings bonanza,all the major players reported this week,Apple alphabet Amazon will break it all,down ahead plus we'll narrow in on,Facebook's hit and miss our look at,fourth-quarter earnings for the social,media giant and the most concerning,metric for Wall Street and a new,alliance takes aim at healthcare the,implications for the industry as amazon,berkshire hathaway and JP morgan joined,forces,but first to our lead we had a slew of,big tech earnings this week and getting,most of the attention was Apple anxious,tech investors awaited their first look,at I phone 10 sales strength I traveled,to Apple's new headquarters in Cupertino,California on Thursday to sit down with,Apple CEO Tim Cook right after earnings,were released we parsed through some of,the main takeaways with foresters Julie,asked and our Bloomberg editor-at-large,Cory Johnson,it sounds absolutely solid to me I think,certainly when you look at a device like,this it's incredibly sophisticated it's,gonna be a bit of a higher price point,and certainly when you consider that the,replacement cycles for consumers are,slowing I think it's a very strong,number and while people like to talk,about and point to the high price point,is maybe something that's deterred,consumers from upgrading you also have,to keep in mind that as a part of the,total cost of service you know the,hardware isn't the biggest chunk it's,the service you know we also talked,about the performance of the iPhone 10,in China there's been concern that the,price was too high and when I asked Cook,about that he told me in China the top,five selling smart phones everyone was,an iPhone it's the same situation in the,u.s. in Japan the top six out of seven,smartphones are iPhone so not bad he,said I feel great about that,Corey you know what do you make of these,numbers given all of this fuss over,whether this iPhone 10 was was simply,too expensive well I mean I think the,numbers show that it wasn't too,expensive I mean at least well this is,always different ways look at this Apple,made a lot of money selling a really,expensive phone they're clearly,defensive about what we're hearing about,a slowdown we got at a Qualcomm,yesterday about the fact that unit sales,on a year-over-year basis were down even,though this phone is a technological,marvel but I think that Julie's point is,it is a really really important one and,it can't be overestimated looking down,in the competitive world but just at,Apple itself that Apple is trying to,move its financial model towards a,service model and away from being purely,about hardware and so that the,introduction of new hardware isn't about,the hardware itself it's the Trojan,horse to services that customers will,pay for over time and so over time we,have to evaluate is not just how well,the phone sells how many Trojan horses,get out there but their ability to pull,along other revenues over time and I,think as a result that's just going to,take a little bit longer you know we,didn't know when the iPhone launched,that uber and Instagram would be,invented and become the the killer apps,for this device of a smartphone and of,the,phone so we might not know in the first,15 weeks or so of the existence of the,iPhone 10 what the killer app is but it,might but apples a stated goal is it'll,be an apple app and that the next uber,in the next Instagram won't be created,by somebody else but it'll be owned by,an apple prophet through the services,aspect not just the hardware sales now I,also did asked him cook about so-called,battery gate you know Bloomberg has,reported that the Department of Justice,the SEC are asking questions about this,whole iPhone battery replacement issue,he couldn't comment on the specific,agencies but said that there are,agencies around the world asking,questions and they are cooperating with,that he also singled out the Apple watch,and how quickly that is growing that you,know this category would be the size of,a fortune 300 company on its own Julie,you know how optimistic about are you,about the non iPhone products in the,portfolio yes I think this builds on the,point that Corey was making that's dead,on there's a couple things that are,really key as we look forward and turn,around Apple success and one of them is,corley Corey pointed out is the services,right that makes these devices more,valuable and the second thing is is the,more devices that an indica sumer owns,within the Apple ecosystem of products,then that's more valuable that each of,these products become and more likely,that Apple is going to be able to sell,services like music payments will become,embedded into my day-to-day life and,things like that so both of those things,are really important as we think about,apples momentum going forward of course,we know that Apple is now bringing,billions and billions of dollars back,from overseas tha
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What does new British PM Rishi Sunak mean for the rest of the world? | DW News
What does new British PM Rishi Sunak mean for the rest of the world? | DW News
another new leader in the UK Britain's,third prime minister in a year of,political chaos he is now promising a,new era of stability former Finance,Minister Rishi sunak today gained the,backing of his conservative party to win,the leadership of that party his,predecessor Liz trust she had to stand,down when financial markets rejected her,economic plans sunac's first task will,be to restore confidence in the UK,government's finances,receives a warm welcome his cheered and,greeted at the conservative party,headquarters,sonak will take over the top job from,less stress who quit just after a few,weeks in office,but sonak faces tough challenges such as,tackling soaring energy and food prices,and a deep political crisis he will be,the third prime minister this year,the United Kingdom is a great country,but there is no doubt we Face a profound,economic challenge,we now need stability and unity and I,will make it my utmost priority to bring,our party and our country together,as Finance Minister sonak earned priests,for supporting the lead of workers and,businesses during the pandemic,but as one of the wealthiest politicians,in the UK he has also been criticized,for his lavish lifestyle especially at a,time when Ordinary People are struggling,but sonak's Victory is also historic he,is the first British Prime Minister of,South Asian origin he is also the first,Hindu to become the country's leader and,the youngest the UK has seen in 200,years,I'm joined by Nicholas Allen he's a,professor of politics at the Royal,Holloway University in London it's good,to have you on the program with us let,me ask you considering what we've seen,in these past few months is there reason,to believe tonight that Rishi sunak will,be UK prime minister for longer than 45,days,I think there's a good chance that he,will last longer than this trust it's,almost impossible for him not to last,longer I think the likelihood of him,inflicting economic catastrophe uh on,himself,um I don't think that's going to happen,so the the,self-inflicted problems that this child,support have called upon herself that,ended her Premiership that's not going,to happen and the other thing that,Cinder Acosta his Advantage is I think,the MPS in the conservative party just,know they are now in The Last Chance,Saloon and they'll give him a little bit,of a ride a little bit of an easy,passage at least to start with so I,think he should be on course to last a,bit longer for trust you know only seven,weeks ago Britain's conservatives they,chose Liz trust over Rishi sooner and,yet at the time that he lost that race,he was warning that this mini budget,which we we know trust proposed could,have dire consequences then that is,exactly what happened he could have said,today I told you so but he did not what,message does that send,I think he has a difficult path to tread,his criticisms of Liz truss's economic,policies the program on which she was,actually elected by conservative party,members he doesn't even need to point,out that she got that wrong because,everyone can see it and already the,second chance appointed second Finance,Minister Jeremy Hunt reversed those,policies so I think sunac doesn't need,to say I told you so because everyone,knows that he told us so so I think um,in that sense,in his pursuit of unity within the party,he can afford to speak very softly shall,we say in terms of criticizing his,predecessor yeah and pick up on the word,um afford,um sunac is fantastically wealthy he's,one of the richest people in the UK um,he was involved in his own tax Scandal,earlier this year,is there going to be a a large Chasm for,him to bridge between himself and,ordinary britons right now who many who,are just I'm struggling you know to deal,with inflation,foreign,conservative politicians are probably,perceived more or less as being out of,touch with ordinary voters so in the,sense he's not in any different position,to anyone else,clearly his enormous wealth is something,that,his opponents might want to use their,advantage in terms of criticizing,highlightings highlighting his being out,of touch but I don't think he per se is,going to be any more out of touch with,what voters think than Sailors trust I,mean not least is he is a constituency,MP he is expected and does keep in touch,with his constituents and his,constituency parties so,he's going to have his finger on the,pulse as much or as little as really any,other conservative minister,Nicholas Allen professor of politics at,the Royal Halloween University of London,we appreciate your time and your,insights tonight thank you,thanks well for morning Al I'm joined by,Roger casala he's a former member of,parliament for the labor party in the UK,he now lives in Italy Roger it's good to,have you back on the program it's good,to see you again,um let me ask you about what's happened,here we've had three UK prime ministers,in less than two months time we've had I,think four finance ministers in four or,five months I mean it's been said
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Apple-Facebook Rivalry Builds Into Big Tech Spat
Apple-Facebook Rivalry Builds Into Big Tech Spat
i'm mark german with bloomberg,technology and on this week's episode of,power up,i'll be talking about the brewing cold,war between apple and facebook,joining me today is kurt wagner my,colleague who covers facebook,and we'll be talking about all the,growing issues between apple,and the social network so kurt to hand,it off to you,tell us how did this sniping between,apple and facebook begin take us back to,you know three years ago when this all,began well i think it goes,even further than that but a lot of it,was internal and,there has been a little bit of a dislike,and distrust between these companies for,a while but we start still out into the,public,as you mentioned kind of in 2018 that,was when facebook was going through this,issue with cambridge analytica,they had a data privacy scandal on their,hands,and we heard tim cook basically say uh,you know take a shot at mark zuckerberg,and say i wouldn't be in this situation,if i were running facebook and from,there the two companies kind of,exchanged a lot of,public attacks um a lot of it was pretty,petty at the time right but as we've,seen,uh in the last couple months it's gotten,pretty serious to the point that these,two companies are now,really going after each other and their,respective businesses,so talk us through the latest issue,related to apple's app,ad tracking transparency feature coming,to ios 14.5,in the coming weeks how does that impact,facebook and their bottom line,well facebook makes almost all of its uh,money from targeted advertising and so,a big part of that is the ability to,understand what you're doing on your,phone you know what apps are you using,what websites are you visiting and then,they'll show you,ads based on that activity but this new,change to ios,is going to basically force facebook to,ask for permission to start doing that,and the way that they're going to ask,for permission is through a pop-up,and facebook is really upset about this,right they see this pop-up as being,intrusive they think it's alarmist,they're worried that a lot of people are,gonna see this and suddenly say wait,why is facebook tracking me right this,is a bad thing and they're gonna,opt out of doing that and if enough,people opt out of letting facebook track,them,that could have serious impact on their,ability to show these targeted ads so,for facebook this is really an attack on,their core business right they see apple,kind of stepping in,in between the relationship of them and,their user and potentially,hurting their bottom line i'm curious,from you mark i mean these two companies,have,as we know a long history but it seems,like it's going to be,going uh being aggressive into the,future as well like where do these two,companies go from here how do they,continue to compete,yeah so for the last 10 years they've,had a relationship that was mutually,beneficial,apple made facebook one of the premier,apps on the iphone,and obviously facebook has made a ton of,money from its main,blue app from instagram from whatsapp by,being,available on apple's app store and other,platforms but now they're sort of,crossing into each other's territory as,i've written,several times apple is working on a,high-end vr headset,it's probably going to be at least five,times the price you know of oculus and,200,300 quest headset and it's going to blow,up,out of the water in terms of,specifications but,facebook will be severely undercutting,it in price further out both companies,are working on lightweight augmented,reality glasses,that's what apple really wants to pitch,is the future you know of the smartphone,several years down the road,as does facebook so you'll see,competition there there's been overlap,of course in home devices,facebook has the portal for video chat,it has a tv device now,so there's some overlap there with apple,with its home kit,platform obviously facetime on the ipad,the apple tv and the home pod so while,they have a mutually beneficial,relationship,they're also going to be fighting over,the future of consumer technology as,well,well into the future so kurt thank you,for joining me,i'm mark german this is powerup
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Factcheck: How did India become a fake news hotspot? | DW News
Factcheck: How did India become a fake news hotspot? | DW News
this looks like a normal cricket match,in india,but everything about it is fake the,players the umpires the pitch and even,the crowd noise,a gank set up fake indian premier league,matches to duke foreign bettors it,reached the quarter-final stage before,it was busted by local police,this bizarre story is only the latest,example of misinformation making,headlines in india,a study done at the university of,alberta in canada claims india was the,biggest source of covet 19,misinformation in the world accounting,for roughly one in six cases worldwide,and a microsoft survey adds that nearly,two-thirds of indians have encountered,fake news which is more than the world,average,so why has india the biggest democracy,in the world turned into a hub for,so-called fake news one main reason,mentioned by many experts is the lack of,digital literacy in the country while,india had about 150 million internet,users a decade ago it has seen an,increase to more than 800 million now,thanks to low-priced mobile phones and,cheap internet data plans,but despite this huge growth in internet,penetration studies show people skills,to critically evaluate information they,find online haven't caught up yet a lot,of people are now coming online probably,just the last five years you know,hundreds of millions of people have come,online,and so,that's the key here so you know though,misinformation has been a thing for a,long long time online misinformation,aided by digital platforms which enables,the sort of wider spread the masses,i think that's a problem,during the corona virus pandemic,credible news was often drowned out by,unverified information online,misinformation related to false cures,and conspiracy theories caused panic,anxiety and fear as the virus spread,for example at the beginning of the,pandemic a hindu group hosted a cow,urine drinking party in india,they believed this would help prevent a,covet-19 infection as many hindus,consider the cow sacred,leading politicians of the ruling party,had also advocated the use of cow urine,as medicine,their bodies because they believed they,could heal a covered 19 infection,through this but there is no scientific,grounding for such treatment in fact,doctors warned that it could lead to,other diseases such as black fungus,infection,so a lack of digital literacy is one,reason fake news proliferates in india,but to really understand why the,country's turned into such a hub for,misinformation we need to understand two,key things politics and religion,in fact politics and religion are two,areas that contribute to nearly half of,the fake news generated in india,according to a study by the asian,journal for public opinion report let's,start with,politics prime minister narendra modi,represents the hindu nationalist party,the bjp in india,in 2014 he came to power with the mantra,of sabka saath sabka vikas or we are,with everyone for everyone's prosperity,referring to a multicultural and,multi-religious indian society,but eight years later the country is,witnessing a sharp religious divide and,a rise in nationalism according to a,research done by the bbc these factors,have contributed to the rise of,so-called fake news in india it's,affecting most of the,people and even the ordinary lives it's,not just the political misinformation,that we have been seeing regularly,but it's also a kind of a social problem,it's also affecting businesses it's also,affecting,societies many bjp leaders including,cabinet ministers were also found,spreading misinformation in this tweet,the minister of commerce in the modi,cabinet claimed indian streets have been,lit with led lights however a reverse,image search shows the image is actually,from a street in russia,there are many other examples where,prominent figures of the ruling party,have shared misinformation,experts worry the country especially,fertile ground for misinformation,this is alarming,because,the current,ruling party is not doing enough,to,to stop the spread of misinformation in,fact the party has built a huge social,media production hub,known as the bjp it cell a nationwide,network of social media managers and,influencers,thousands of people work here spreading,online messages and making them viral,the group has often been accused of also,spreading misinformation if you look at,most of the fact checkers in india,and if you look at the kind of,misinformations they are bursting every,day if you just look at,the amounts of this information that is,coming from different political parties,that they have been,debunking every day you can see this,a lot of misinformations are coming from,the supporters of the current ruling,party the bjp denies this accusation,we do not indulge in fake news let me be,very candid about it,we do not the party does not indulge in,fake news,if something has been attributed to the,party one needs to go to the root of it,but actually bjp leaders are often,accused of spreading fake news according,to indian media,recently a case was registe
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Full Show: Best of Bloomberg Technology (09/29)
Full Show: Best of Bloomberg Technology (09/29)
I'm Emily Chang and this is the best of,Bloomberg technology where we bring you,all our top interviews from the week in,tech coming up Apple has reportedly hit,a production snag on the iPhone 10 while,Amazon rolled out revamped versions of,the echo we'll see how the two tech,giant's currently stack up on hardware,plus Ellen Pao discusses why she wrote,her new book reset and what changes she,would propose to combat online,harassment and GoPro unveils its most,powerful camera yet could this be the,key to the company's turnaround we'll,hear from CEO Nick Woodman but first to,our lead Apple is already facing,production delays to its top-of-the-line,iPhone 10 the delays come due to,problems with the 3d sensor,manufacturing process reports saying,makers of the components used in facial,recognition are struggling to reach,adequate production levels Bloomberg's,Alex Webb who covers Apple gave us all,the details,well we know from the reports yesterday,initially from Nikkei there were some,problems with the 3d sensors and that's,causing some delays to the production,process then subsequently the Wall,Street Journal kudos to them they dug,into it a little bit more and it's the,sensor which projects the infrared dots,in your face which then helps map your,face for the 3d sensor facial,recognition system that Apple has we,don't quite know the extent to which,that will affect how many phones are on,the shelves come November the third day,well that was my next question is you,know to what extent do we know how all,of these things that we're learning,about are actually going to impact,supply so you know going back to the,start of September when Apple unveiled,these two phones they have the iPhone 8,and the iPhone 10 and for the first time,ever as far as I know I'm in terms of,iPhone releases they staggered the,release so the iPhone 8 is already on,shelves you can go out and buy one,assuming they have supply you can go out,and buy one right now there's a six week,window though until the iPhone 10,becomes available because we knew going,into this cycle there were some problems,with the OLED screens now Apple said,that those delays were taken into,account when they made their projections,for the current quarter the one which,ends on the 30th we don't know to what,extent these 3d sensor delays were taken,into account when they said the release,date will be November the 3rd if it was,then investors don't have anything to,worry about that you know on this front,at least if they did then it might be,that they're in short supply come that,day and the the they will not be able to,meet demand and that is something which,might be a cause for concern,could this be or give us some answer as,to why the release was staggered with,the iPhone 8 last week and the iPhone 10,not out till November yes I mean it,could be one of the factors OLED is of,course the other one there are only a,handful of factories in the world making,these organic light-emitting diodes,displays which are would give it this,sharper wider display for the for the,iPhone 10 but we did know there had been,some problems with the you know fix,getting these 3d sensor systems working,we weren't quite aware of the extent of,the issue it's really going to we're,dropsy doing our own reporting digging,into it seeing exactly what the cases,the problem seems to be and what they,call the module makers you have all,these different components which you,piece together,to make the 3d sensor package itself,which then goes into the phone it's,there that the sticking point seems to,be the people delivering those,components the the they are doing okay,but it's the the module assemblers and,that's as far as we know,LG initech in South Korea and sharp the,the Japanese company which is owned by,Foxconn they seem to be the places where,they've got issues it's interesting,given that Tim Cook was Apple's CEO for,many years he was the supply chain,genius and you know obviously you know,probably knows more about the supply,chain than anyone at Apple that at this,point you know they've been working on,this phone for months if not years why,wouldn't they be able to stockpile some,of these components for the release I,think it possibly speaks to the fact,that you know people have been worrying,for a while about the extent to which,are really able to deliver blockbuster,technological advances in smartphones,anymore so Apple has really been trying,to push the envelope get the latest,technology available for their phones,the difference is of course the iPhone,as an as a sim single model is the,best-selling smartphone in the world,Samsung sells more smartphones but,they're of course a bunch of different,models because it's the best-selling,smartphone in the world and they're,trying to do this really cutting edge,technology it may be a lot of these,companies are not yet at the stage where,they can deliver all the components,necessary on some of the conference,calls for these companies over the past,couple
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