tv Bloomberg Technology Bloomberg June 18, 2019 11:00pm-12:00am EDT
♪ emily: i'm emily chang in san francisco and this is "bloomberg technology." coming up in the next hour, facebook's crypto play. the tech giant unveils a new digital currency called libra that they hope will be used as widely as the dollar. skeptics are speaking out. pleasant it trump -- president trump raises the stakes. president trump and xi jinping will meet at the g20 to relaunch trade talks, triggering a rally in the market.
tech companies from amazon to netflix are being targeted in a campaign from a large group of investors calling for transparency in environmental impact. can corporations take the lead on stability? facebook is launching a cryptocurrency called libra. social media giant wants you to think of it like the u.s. dollar but a currency you can use globally, if it is successful. libra is known as a stable coin, a digital currency backed by government supported currencies and securities. it is the culmination of a year-long effort as facebook seeks to spur growth on various platforms that count more than 2 billion users. spotify, stripe, uber, visa, mastercard are among almost 30 companies supporting the project. will this make it to the mainstream or will it be another overhyped facebook product that never quite takes off? one lawmaker has an opinion. senator sherrod brown tweeted, "facebook is already too big and too powerful and uses data to
exploit privacy. we cannot allow facebook to run a risky new cryptocurrency out of a swiss bank account without oversight." join us -- joining us is julie and kurt. kurt, let's start with what exactly is libra and can we use it? kurt: right now, you can't use it. it is not going to be available until the first half of 2020. the idea is you would take a physical currency, the u.s. dollar, and convert it into this digital currency, and you could use it in the way you use other money online. you can send it to a friend, pay for a new of shoes with it. the idea is that you can use it around the globe. not just within facebook and within the united states. emily: new payment methods often take years to take off. just look at apple pay.
let's talk about the reality of how, if and when this is launched next year, how it will be used initially. julie: it would let me send money to someone in another country, maybe a friend that lives here. it is a way to get people using the platform and saying, to facebook's big advantage they already have millions of customers around the globe they could market this to. the issue is largely regulatory in terms of depending on what they use it for, that depends on which regulator gets involved. thatwill keep an eye on especially with, as you mentioned, senators voicing criticism and skepticism. the goal is to launch it in the first half of next year but this thing could never get off the ground. it doesn't matter how smart your team is. if regulators give this a no, it is not ever going to become a product that we are using.
emily: will it? sonny: the use case is great but regulation is an issue. money transmissions licenses for europe, each state. it will be a battle. they have the right team but everything moves slowly in tech, regulations.ound in terms of a global currency, it is similar to bitcoin. they have a 2 billion user base already. emily: the goal of cryptocurrency is decentralized, no middleman. does it matter when it is backed by a public company called -- a publicly traded company called facebook? sonny: that is why they created a nonprofit group out of europe called the lever association, so facebook is just a partner. they have managing members and each person has equal membership , so it is a nonprofit, decentralized coin they are trying to sell it as. emily: talk to us a little bit
about how this works. facebook has responded to criticism from senator brown especially about what they get out of it. kurt: good question. if you think messaging in the way julie described it, payments could be a huge business for facebook, they have more than 1.5 billion users on whatsapp and messenger. messaging, doing banking services, lending money. more immediately, facebook would say, the more people who have a wallet on their phone with currency they are willing to spend, the more attractive we are as an advertising platform. if you are nike, maybe you want to go to facebook because people viewing your ad have the libra currency right there on their phone ready to spend. emily: let's take a listen to how facebook describes the currency stored in libra. it would back up whatever you have stored in it.
we spoke to david this morning, theexecutive running project to also ran paypal. take a listen. david: the reserve is a very important component of the stability of this digital currency. we welcome open conversations with regulators to figure out how to drive accountability and transparency for the libra association, notably on the reserve. emily: how is the finance community receiving this idea? julie: it depends who you talk to. a lot of u.s. based companies i talked to don't necessarily see a big -- as big of a use case as someone internationally. to see paypaling partnering with them as well as visa and mastercard. but you have to step back and see who is not on the list. none of the big temp -- tech companies, apple, amazon, google are absent.
none of the big banks either. in the interview david gave, he did say he expects some of them to sign on by the time they launch. they have around 27 partners now and they want to get to 100 partners by next year. i think a component of this would be getting buy-in from big tech and big finance. they do not have that right now. emily: the people excited about this are saying it is like aol for the internet, it's going to bring cryptocurrency to the masses. is that an exaggeration? sonny: i think it is definitely possible. it is the same use case that bitcoin had. anyone can access it, it is cheaper than credit cards, it is outside the euro and the u.s. dollar, and it has the right user base to go after it. in asia, a lot of people use we chat as payment options. facebook is looking for the same option. i think they have the right foundation. i think the banks will come on board.
what bank isn't going to want that money in their system? i think facebook has the power to make this happen. you have been covering social media a long time. there is a graveyard of facebook products that never really got off the ground. lots of fanfare, and certainly, facebook would love to have a counter narrative to tackle the two years of bad news. what makes this different? kurt: i think the biggest difference is the collection of partners they are bringing in. it is one thing for facebook to roll something out that is facebook-specific and it doesn't work. that impacts facebook only and they can move on quickly. when it involves paypal, and visa, and uber, there are a lot of people who have at least some skin in the game. you could argue maybe facebook has the most and i would say they do at this point, but if they bring on a bunch of other partners, there will be lots of incentives for this to work and it won't just becoming from facebook. that might be a difference from
the other stuff they launched. emily: some of the skeptics might say, facebook has so much of my information, why should i give them my financial information as well? facebook also formed this other organization called calibra to handle privacy issues so it can be used in facebook as -- can't be used in facebook ads targeting. they need something like that, but how confident can we be? how much can we trust facebook in the execution? julie: they know going into it that they have to make sure that there is a separate entity for consumers to make sure that this is something that you will not be using my data to target me. they have to be careful and make sure they talk with regulators. there is nothing that happens that, the second they lose this trust and that is proven wrong, there's so little incentive for someone to come on and use this. facebook has tried payments and other things before and it never taken off so this is like one last big shot to make it work. if you lose consumer trust in
finance, that is big to come back from. emily: i'm sure will be covering it. julie, kurt, and sonny, thank you all. dish network is in talks to pay $6 billion for assets that t-mobile and sprint are unloading. dish had been on a short list of bidders favored by the justice department. t-mobile and sprint have already promised to sell boost mobile, sprint's prepaid business, to get approval from the fcc. coming up, president trump announces that he and xi will have an extended meeting at the g20 after "a very good phone call" today. can the leaders hash out a deal? that is next. if you like bloomberg news, check us out on the radio, the bloomberg app, bloomberg.com, and in the u.s., on sirius xm. this is bloomberg. ♪
emily: president trump's top trade representative appeared before the senate finance committee and continued to stress the administration's view that china's taking advantage of the united states. >> in addition, we have used section 301 to investigate unfair trade practices with china. we believe our economic relationship with china has been unbalanced and grossly unfair to american workers, farmers, ranchers, and businesses for decades. emily: bloomberg's sarah mcgregor is with us, who leads our economic policy coverage. what were the highlights of what lighthizer had to say today? sarah: president trump tweeted as lighthizer was about to speak
about the fact that he and president xi jinping spoke by phone. they agreed to break the stalemate and have talks at the g20. trump let us know that as of now, u.s. officials and chinese officials after a months long impasse are trying to get a trade deal restarted again. emily: what should we read from president trump's description of this phone call with president xi and the fact that the two sides will start talking ahead of their meeting at the g20? which will, he now says, be an extended meeting? sarah: as soon as the markets heard news that trump was saying the talks would happen at the g20, the financial markets jumped. tech, industrials, this was seen as a really good sign. when you read between the lines, a white house statement came out saying that trump had said that there need to be structural changes. there needs to be a level
playing field between the u.s. and china. it is clear that neither side is backing down from their position. we still find ourselves stuck between a rock and a hard place in these talks. the u.s. wants china to make these reforms. tech transfers, ip theft. the other hand, wants what it calls a balanced agreement. it is seeking to ensure it protects its own economy and doesn't give up to many things. talks broke down when china backtracked from the commitment to codify changes into laws that would ensure the u.s. that it would protect ip, protect some -- address some things like subsidies. those issues haven't been resolved. path and xi meeting is a for and more talks. emily: you have similar kind of mixed messages coming out of beijing. chinese media saying xi jinping is willing to meet with president trump and exchange views. certainly in the united states, there are many who are unhappy
with these tariffs. they have been incredibly unpopular. how does president trump and president xi kind of walk this line between what they want to prove and what might be realistic? sarah: you said it right that these tariffs have been unpopular. lighthizer was testifying before the senate finance committee, and many senators came out and said, while we agree on getting tough on china, the approach has been -- has not been working. just doma street there was a public hearing on the proposed tariffs that trump wants to put on an additional $300 billion of chinese goods, which would hit toys, smartphones, and consumer products that have been spared so far. these companies are unanimous in saying the tariffs in place have hurt us. if you put them on the rest of chinese imports, this would be the final straw for us. it would raise consumer prices and cause pain and job losses.
so it is hard to imagine. trump is under pressure, launching his political campaign for reelection today, to spare the agricultural heartland and manufacturing. we just don't know how much he is motivated by this to get a deal with china that might fall short of some of the promises he has made to be super tough on them. emily: i know you will be beating the drum to the g20. thank you very much, bloomberg's sarah mcgregor. coming up, calling out big tech companies not over privacy but over their carbon footprint. why investors are saying enough is enough. that is next. we are livestreaming on twitter. follow us there @technology. follow our network tictoc on twitter. this is bloomberg. ♪
emily: google is pledging $1 billion dollars to tackle san francisco's housing crisis. the tech giant will repurpose $750 million worth of its own land for residential use. the other $250 million will go to incentives for developers to build 5000 affordable housing units. this'll be over 10 years. the success of silicon valley has massively driven up housing prices in the bay area. middle income residents have been squeezed out as tech earners have snapped up real estate with new apartments in short supply. big tech names like amazon and facebook are being called out for how they report or don't report carbon emissions. they are among 700 companies targeted in a campaign backed by a large group of investors and companies like hsbc. they want greater transparency when it comes to the environmental impact of these
companies. to talk about this and more when it comes to tech's carbon footprint in new york, we have , jesse mikel keenan of harvard, who is also -- who has also advised cities and states. another guest with a venture capital firm. they are focused on sustainable housing. just how big is tech's carbon footprint? you don't usually equate them with power plants or the makers of bluejeans, for example, but they do have a bigger carbon footprint in a different way? >> yes. footprint -- the footprint is from server farms. they have been sourcing some of that power from wind. there have been a big push to think in terms of sustainability, not just in terms of primary energy generation but also in terms of offset.
i think a lot has been done but as you suggest, the next frontier is thinking across the organization and enterprise-level risk management think about climate change and climate adaptation from primarily a risk management point of view. emily: what is your take on some new companies whose feet are held to the fire? >> it depends what new companies you are talking about. in the tech world, many of them are forward thinking about sustainability and impact for their shareholders, customers, and employees. that is a big motivating force for a lot of these companies. there's a whole host of different methodologies that you can measure. there's over 150 different frameworks used. cdp is probably one of the most frequently cited, the carbon disclosure product. emily: how would you rate how transparent tech companies are at this moment about their carbon footprint?
jesse: i think it varies. there have been some who are, pick on amazon first. amazon has arguably an unsustainable model when it comes to logistics. they are largely, if a carbon tax or implemented, our amazon prime accounts would not have a great deal of economic parity. it would be too expensive. then you have other companies that are really not oriented toward logistics or manufacturing or primary production retail, who i think are better suited to engage energy efficiency and other energy technologies. i think it runs the gamut. emily: amazon says they have set a goal to reach 50% of all amazon shipments with net zero carbon by 2030. but can we really rely on the companies themselves to do the right thing or do they need outside pressure from investors and activists? abe: i think they certainly need pressure.
there's a rising tide and trend of investor and stakeholder support, pushing for efforts. pushing for disclosure and sustainability efforts. we could list about 10 different efforts in that area. this has all caused tech companies in general to do good things. 60% -- 50% renewable is a good thing for amazon from their power procurement. they are going to 100%. they claim they will be disclosing their carbon footprint. that is all net positive. i think amazon has a unique challenge in that it is a tech company but it also ships a lot of stuff. most tech companies don't. that is a huge carbon footprint. emily: we all get so many amazon boxes and we don't want to do -- know what to do with them. abe: i would love to find a sustainable packaging solution to replace the boxes. it is an economic problem, but we are filled with them. emily: this is all happening at that the trump
administration is rolling back the work president obama did on climate change. these investors are fighting an uphill battle. can corporations really lead on sustainability when perhaps the political winds are blowing elsewhere? jesse: it is not really the case that corporations and the private sector have to be led by the hands of government in terms of regulation. the fact of the matter is that this is good for business. thinking about not only climate change risks but climate change opportunities. we were talking a couple of minutes ago about the carbon disclosure project. we now have a task force for climate financial disclosure which i think gives companies a robust methodology by sector to think about a wide range of risks and opportunities. this isn't altruism. this is about making money. i think what we are going to see
in the future, and it is emerging now, a greening and browning of asset classes. i think companies will soon fall into that one way or the other. emily: speaking of making money, we have 30 seconds left. i assume there's an investment opportunity in the companies that can help these bigger companies decrease their carbon footprints. abe: there's always an opportunity. our investors are pushing for these changes through their investments. the university of california is our single biggest stakeholder and they are pushing this through us and their own efforts. there is a lot going on. emily: thank you both. coming up, we will continue our coverage of facebook's announcement of a new cryptocurrency with our conversation with the man leading this initiative. david marcus, we will hear from him next. this is bloomberg.
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emily: this is bloomberg technology. i'm emily chang. let's return to our top story. facebook unveiling plans for new cryptocurrency called libra. that will launch as soon as next year. lots of excitement but also lots of questions. joe weisenthal spoke with an executive at facebook to talk about how the cryptocurrency will be regulated. >> it's the best database structure because if you want decentralized governance over something that should be governed as a public good, this is the best way to do achieve this. we went to the blockchain route
launch -- the timely by the time we launch we will have a hundred different global organizations to dissipate in this new network. 27 organizations right now. we needed a way to decentralize governance because no one company should control a network that is basically a protocol for value on the internet. >> let's talk about some of those launch partners. one thing people noticed, there are no major tech companies and no traditional existing banks as we know them. were they approached? was there any reason for their absence? >> i know you want to talk about all the companies that are not here. i think we can take a moment and recognize the remarkable organizations that are already joining us. just to reestablish this, this is very early. 27 organizations right now, 100 by the time we launch.
by that time, i expect to see banks in there. see other large technology companies and i expect more diversity of organizations in terms of geographical distribution and the like. there is so much work ahead. >> let's talk about the structure of how the currency is used specifically. if i were to acquire libra on an exchange, mi able to move those able to move those coins to a wallet of my own holding with my own keys like i am able to do with it going? -- with bitcoin? >> yes. we are starting with the blockchain that will be open. people and companies can build services on top of the block chain. you don't need to be a member of the association to build a wallet on top of this new network. as a result we will have a lot of competition for our own
wallet. >> the wallet can be off-line. it can be something in which i can hold my keys and coin on a computer or usb drive or a laptop that is disconnected from the network and nobody needs to know that i have it anywhere? >> yes. >> what i be able to transfer those coins to a third-party, could i send those coins to you in a blockchain in a way that no entity, whether it is facebook or any of the launching partners, would know about? are we able to transact in a way that no third-party is able to see it? >> third-party would be able to see it because it will validate transactions and even if you transact on your own on the blockchain the same way others parties, but no one specific party can actually see transactions. the one thing i want to say is despite the fact that noncustodial wallets were you can manage your private key and
move money around will exist, the on and off ramps are going to be regulated. the custodial wallets will be regulated. that doesn't mean that we should not enable a form of digital cash transactions to happen on top of this new network. >> the existence of a digital cash for obvious reasons creates all kinds of regulatory issues because in theory, if i am able to transact with someone in a permission-less way, we could be doing something with illegal whether it is innovating capital controls, buying drugs whatever it is. how do you enable that kind of free exchange while also dealing with the regulatory bodies that are going to be existing in scrutinizing this project all over the world? >> that is a great question. i'm glad you asked it. a couple things. first of all, we decided not to enable crypto primitives on this
blockchain that would enable what we call shielded transactions. meaning if you are a criminal and you want to transact on the network, this is not going to be your network of choice because pseudo-anonymous. law enforcement can do their thing the same way they do it with bitcoin. the one thing i would say is, the current effectiveness of anti-money laundering is low single-digit percentages of money laundering happening in the world. the reason is the majority of money laundering is happening in the cash system. enabling many people to join a digital network with digital and offith regulated on ramps, meaning if you want to convert money into libra you will have to go through regulated entities. on top of that, no shielding transactions enabling regulators
to observe themselves what is going on in the network rather than relying on institutions to report transactions i think will only improve the effectiveness of money laundering. that is being done with this in mind. the best of both worlds, enabling people to use digital cash and be their own custodian, and at the same time, not only meets the regulatory requirements but it improves on the effectiveness of money laundering programs. of caliacebook's head bra, which will work in tandem with the libra association, with joe weisenthal. we have breaking news about maxine waters. house banking chair. she is asking for facebook to testify on its cryptocurrency plans and to halt any development of a new cryptocurrency until they testify and regulators can
review it. this was coming from reuters. again, maxine waters asking facebook to halt development of libra until congress and regulators can review it. we spoke about some of the skeptics, other lawmakers speaking out. this will be an uphill battle for facebook to win over regulators as facebook is the -- dealing with other regulatory issues on multiple other fronts. we will continue to cover it. president trump recently suggested that the u.s. should follow the example of brussels' bureaucrats in hitting with -- hitting google and facebook with antitrust regulations and fines. vonnie quinn sat down with a ceo today and talked about what she is watching as antitrust investigations potentially take center stage in the tech industry.
user generated content platform, i think it is good that there is a discourse around topics like antitrust or privacy, and clearly more scrutiny is needed. i think for vimeo, the role that we expect to play is we will continue to partner with any entity that is looking to make sure that platforms like us are operating responsibly. that is the tech that we are taking. i imagine google should be taking a similar tack. >> on youtube, i know you consider that more of a partner than competitor, help bit of a -- but how good of a job is youtube doing controlling inappropriate content? >> i think youtube as well as weeo, all you gc platforms, could all be doing a better job. that is quite clear. we are constantly investing in things like trust and safety and
what are the right guidelines. at vimeo we are fortunate in that our community of creators tend to be professionals, filmmakers, and businesses. so we don't often have the same challenges that youtube or facebook might have. but we still take that responsibility very seriously and we are constantly looking at ways to improve our prophecies and guidelines to make sure the environment for users is safe. -- i'm curious what you think of the likes of gopro. they banked on content and it didn't work. >> gopro's focus on content is a great example of what we are not doing. at vimeo, we are not investing in content ourselves. , a software for service company. we build a tool for a creator or small business to be able to make and distribute their videos online. that is not on vimeo specifically
as it is everywhere over the internet. people gopro, the more making content using a gopro camera, that is great. but we are agnostic, which means we try to integrate with any software, any camera, anyway that you are trying to make and succeed with video, vimeo is a good partner that can help you. >> you said the economics and the business is fantastic. is there a point at which you might consider spinning off? >> i think now, we see a huge market opportunity and we have the capital and resources in our parent company to go after that opportunity with focus. right now, i am very interested in execution and doing the touilding the things we want build for our users. if the time came when we needed to consider an ipo, we could and would. our parent company has a great
narrow networks for things like self driving cars. you can read about it in this bloomberg businessweek. she joins us from washington. this is a fascinating story. let's start with words. what do technologists or tech companies like google have to learn from the mind of a bird? >> it seems incredible. it turns out zebra finches have the perfect brains for technologists to study. they are complicated enough that you can learn interesting things about how the brain works but they are small enough that you can get in there and watch individual neurons fire and see how birds learn. songbirds are among the only animals that learn to sing from their parents. they don't innately know how to chirp or grunt. neuroscientists can look at their brains and see how they make decisions. how they learn things and try to apply that to artificial intelligence. >> you discover there has been a , bird rush in expert
experts. how did you discover this? >> it was strange. when twitter had its ipo a few years ago, i noticed their chief engineer had studied zebra finches at berkeley. he was making $10.3 million 10 years later working for twitter. i thought that's kind of odd. i didn't think more of it until elon musk started a brain machine interface company and brainrst hire was a bird expert from boston university. i thought that is really odd. i started to google it and i noticed that a lot of tech companies have zebra finch scholars working for them. it is like them and add jury. erie.menag then i found neuroscientists with all kinds of obscure animal expertise talked away in various tech companies in silicon valley. >> let's talk about mice and fish. what do they have to teach technologists?
>> one of the more incredible things i follow doing the reporting for this story was a tiny mouse paw on a tiny joystick playing a videogame, and this is something scientists at harvard are doing. they have these mice rigged up so that no runs fire different s fire different colors when they played video games. they see if the mice falloff of virtual tracks. they look at how these things might play into how a self driving car can make a decision. zebra fish are ideal because when they are babies, their heads are transparent so you don't even need to do anything fancy to look inside their brains. you just give them a special benign virus so the neurons
light up when they fire and you can watch the neurons firing away through a microscope. emily: are there enough birds, mice, and fish scholars to go around? they are hungry for talent. >> it is fascinating because these used to be obscure disease -- degrees. there were a few hundred phd's each year. now, there are thousands of undergraduates in narrow science. e. if you are a post-doctorate researcher in academia, you might be making $50,000 a year. if you're working for a silicon valley company, you're probably making at least $200,000 per year. some academic institutions are getting angry that big tech keeps snapping up all of their top grads. i talked to one student who was the advisee of a professor who and to go to neurolink
transferred after that happened and after he transferred to berkeley, a second advisor quit to work for a startup. inre are a lot of holes academia and a lot of students coming up the ranks to fill them. emily: and some drama, sounds like. fascinating piece, check it out in bloomberg businessweek. you can hear more from the editors and reporters every saturday and sunday on this -- on business week on bloomberg television. still ahead, imagine being able to communicate without cell, wi-fi, or satellite service. we will talk to a ceo making that possible next. ♪
emily: adobe shares are rising in extended trading after the company announced better-than-expected earnings. the software company reported revenue of $2.74 billion, a 25% increase over the same timeframe last year. mobile communications startup go 10 was created after hurricane sandy years ago but today they are marking a new chapter. they raised $24 million in a funding round to help connect off the grid on its mobile mesh network. this has happened with the ceo at the helm, and it is more impressive knowing that among 250 seven mobile communications company started in five years, only three were founded i women. she joins us now from new york. let's talk about the technology. how does this work? >> we leverage the phones that we have on us all the time. and unlock the ability to use them on a peer-to-peer basis.
with these devices that enable peer-to-peer communications. we are essentially taking this mobile infrastructure around us all the time and unlocking their ability to function without the use of centralized connectivity. if that is wi-fi, satellite or the internet. emily: we all had this problem. you started out focusing on consumers, then pivoted to focusing on the military and first responders, hugely important that they stay connected. how big a market is that for you? >> it is a $26 billion per year opportunity. that is a big surprise given how important it is for people to -- who put their lives on the line to have a lifeline to each other and back to central command. we are proud that our technology is being used to allow these people to command and control these missions efficiently and get home safely. emily: how much money are you making and can you make?
>> our average contract in the public sector is a multimillion dollar contract. 70% of our customers subscribe to software on top of that. we think the opportunity is big. we are innovating in a space customers are used to paying a ton of money for technology that is not upgradable. we are turning that on its head. we see the opportunity to have a volume business for every folder in the battlefield, every enablinger out west, communication between their peers so they can do their job more safely. we innovated not just creating an incredible network but on the price. the average unit that we sell is about $800. if you are selling multimillion dollar contracts, you can tell that is quite a lot of units. emily: it is no secret that women are underrepresented in tech and entrepreneurship. founders like yourself run into
many challenges when trying to raise money in a male-dominated venture capital community. what is lesser known is that women who start companies not focused on women things like fashion or e-commerce or beauty have it even tougher. how have you overcome the challenges of raising money in a silicon valley community when you're focused on the military? you're focused on a more gender-neutral pursuit. >> i think that our technology is exceptional. again, it helps people in the most high-stakes situations. that we haveeason been able to succeed in spite of these added biases in silicon valley is because the technology is so him -- so game changing. it is also not just application in the public sector but if you believe in a future where billions of things need to be connected at all times, you are going to need a network that is mobile and low-power low-cost
that will make that happen. we believe this will be the underlying communication stack for myriad applications including emerging markets and mass markets communications. thanks fornna's ceo, joining us. bloomberg lp is an investor in gotenna. that does it for this edition of bloomberg technology. on wednesday, we will interview facebook costs coo sheryl sandberg. and we are always live streaming on twitter. technology. on and on tictoc on twitter. this is bloomberg. ♪ we're the slowskys.
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