WELCOME ALL IN ALL ALEX TO YOU
FIRST WHAT GIVES WITH THESE
MAJORITIES WITH QUITE FRANKLY
JUST DEVASTATION ACROSS THE
ECONOMY?
CAN YOU HEAR ME OKAY?
>> YEAH.
I CAN HEAR YOU.
SORVELG JUST EXPLAIN THE KIND OF
RUN AWAY RECORD-BREAKING MARKETS
WITH AN ECONOMY THAT STILL IS IN
MANY PLACES FLATS ON ITS BACK.
>> YEAH WE SEE TECH PLATFORM
AND BOOMING AND WITH NO END IN
SIGHT, WE HAVE WISDOM TREE
GROWTH IF YOU FUND IT OVER 14% I
30 DAYS COMPARED TO S&P WHICH IS
ABOUT 9%.
SO WE SEE CRM ADDED TO DOW JONES
THESE TECH MONOPOLY CAN CONTINUE
TO REINVEST IN GROATS AND
THEY’RE NOT SLOWING DOWN.
>> IS THERE ANY END IN SIGHT?
>> YOU KNOW AS WE SEE WITH
FACEBOOK FOR EXAMPLE ZUCKERBERG
JUST SAYING THEY’RE GOING TO
CONTINUE TO INVEST NOT ONLY
DOMESTICALLY BUT ABROAD WE MANY
MANY INVESTING IN INGDZ YA FOR
EXAMPLE WITH GO, SO THEY HAVE
PLENTY OF RESOURCES THAT MANY OF
THE BUSINESSES EVEN IN
BUSINESSES LIKE HOSPITALITY OR
TRAVEL.
YOU SEE THESE PLATFORM
BUSINESSES THESE MARKETPLACE
BUSINESSES RIGHT WHERE THEY HAVE
TWO SIDED NETWORK EFFECTS.
YOU SEE THEM DIP LESS BACK IN
MARCH, APRIL SEEN THEM BOUNCE
BACK MUCH FASTER AND THEY’VE
BEEN ABLE TO INVEST IN GROATS
AND AS MORE TRADITIONAL LINEAR
BECAUSES HAVEN’T BEEN ABLE TO DO
THAT AND ERR ABLE TO USE COVID
AND DIGITAL BEHAVIORS TO THEIR
ADVANTAGE SO I DON’T THINK
THERE’S MUCH OF AN END IN SIGHT.
>> YOU’RE TALKING ABOUT BUSINESS
VERSUS STOCK PRICES, AND IS
THERE ANY CONCERN FOR YOU ABOUT
JUST PEER GAMBLING AND
SPECULATION IN A NAME LIKE TESLA
OR EVEN APPLE?
BECAUSE JUST PERSONALLY I’VE
HO W BET ON SPORT SSPORT
NN TOUGHHROUGH ROBIN ROBIN
WE’RE TALKING ABOUT A DINOSAUR
INSPGAT ON T O T TCK SCKSOO
WE’RE TALKING ABOUT A DINOSAUR
GR
FA AS S THESANEE SEE. S S
WE’RE TALKING ABOUT A DINOSAUR
BUT THERE’SHE KREIN’SD KIND OF A
WE’RE TALKING ABOUT A DINOSAUR
WE’RE TALKING ABOUT A DINOSAUR
THCKS THE THE ACTL
WE’RE TALKING ABOUT A DINOSAUR
UNDERLYIDENGRLYING COMPANY.NY.
YEAH.
I MEAN, I WOULD SAY THE WHO
WE’RE TALKING ABOUT A DINOSAUR
OND REALITY VERSUS
WHAT WE SEE IN THE STOCK PRICES
THESE DAYS.
YOU KNOW A L SPECIFICALLY, I
THINK THERE’S SOME REAL CHINA
EXPOSURE THERE.
ESPECIALLY IF WE LOOK AT WHAT
YOU WERE JUST TALKING ABOUT
WITH --
WITH TICKTOCK AND SOME OF THE
CHINESE TECH COMPANIES OPERATING
IN THE U.S.
SO THAT WOULD BE MY CONCERN ON
APPLE FRANKLY, AND TESLA I GUESS
TO A CERTAIN DEGREE AS WELL ALSO
HAS SIMILAR TYPE OF EXPOSURE.
>> LET’S TALK ABOUT CHINA AND
TICKTOCK, A DEAL TO SELL THAT
APP U.S. DIVISION REPORTEDLY NOW
STALLED OVER NEW CHINESE
RESTRICTIONS ON EXPORTING
ARTIFICIAL INTELLIGENCE OR A.I.
TICKTOCK PARENT COMPANY BITE
DANCE AND TALKS WITH COMPANIES
INCLUDING MICROSOFT WAL-MART,
AND ORACLE, TRUMP ADMINISTRATION
IS SET A MID-SEPTEMBER DEADLINE
FOR A DEAL.
ALEX WHAT DO YOU MAKE OF THIS?
>> STILL SCARES ME.
AND I THINK THAT BAN IS
APPROPRIATE AS WE’VE SEEN WITH
THE COMMITTEE ON FOREIGN
INVESTMENT IN THE U.S. STRIKING
DOWN THE SALE OF GRINDER.
WHICH IS LIKE TENDER FOR LBGT
COMMUNITY THEY SHUT THAT DOWN
OVER SIMILAR CONCERNS OVER
PRIVACY.
BAN IS APPROPRIATE WHAT SCARE ME
IS FRANKLY, POTENTIAL SABOTAGE.
NOT NECESSARILY BY BITE DANCE
BUT BY THE CCP.
WE KNOW CCP LIKES TO CONTROL
THEIR IMAGE INTERNATIONAL LIS
AND THEY DON’T WANT TO BE SEEN
AS BEING STRONG HANDED BY THE
U.S. TO SELL.
THEIR PRIZE ASSET IN TICKTOCK SO
14 LINES OF SOURCE CODE THERE.
THERE IF YOU’RE FRONT LOADING 25
BILLION DOLLAR CHECK AND YOU’RE
FRONT LOADING THAT CASH TO BITE
DANCE I THINK THERE’S A REAL
RISK BUT YOU DON’T REALLY KNOW
WHAT YOU’RE GETTING UNTIL VERY
LONG AFTER THE PURCHASE STATE SO
THAT’S FIRST CONCERN IS AROUND
FRANKLY JUST NEFARIOUS ANGT
MIGHT BE DOESN’T WANT IT TO
HAPPEN BUT ALL OF THE PRODUCT
ENGINEERING OF TICKTOCK IS IN
CHINA AND ONLY SO MUCH CONTROL
THAT BITE DANCE HAS RELATIVE TO
THE CHINESE GOVERNMENT INFLUENCE
ON THE EMPLOYEES.
SECOND CONCERN IS JUST THE
PEOPLE.
YOU’RE BUYING THE SHELF A
COMPANY.
RIGHT, YOU’RE BUYING CODE AND
DATA BUT WHO ARE ALL OF THE
PEOPLE WHO WORK ON THIS
BUSINESS?
MICROSOFT DOESN’T HAVE A
CONSUMER CONTENT PLATFORM
BUSINESS WITH JUST HUNDREDS OF
PEOPLE LAYING AROUND THAT CAN GO
AND WORK ON THIS BUSINESS.
I THINK THEY NEED TO LOOK AT
BUYING TRILLER, FOR EXAMPLE
NUMBER TWO KIND OF TICKTOCK
COMPETITOR BASED IN THE UNITED
STATES.
JUST PURELY FOR THE PEOPLE WHO
ARE THEN GOING RUN THIS BUSINESS
AND WORK ON THE PRODUCT.
BECAUSE YOU CAN’T HAVE THE
CHINESE ENGINEER AND PRODUCT
MANAGERS WORKING ON THE CODE
THAT YOU NOW JUST ACQUIRED FROM
CHINESE LOCATED BYTE DANCE
THERE’S REAL RISK HERE.
>> SOMETHING THAT MARIA
BARTIROMO BRINGINGS US IS THE
PEOPLE AND WHAT ARE YOU REALLY
BUYING?
ALEX GREAT TO SEE YOU.
THANK YOU SO MUCH FOR BEING
HERE.
ALEX, I HOPE ALEX HAS BEEN A
WHILE I HOPE I PRONOUNCED YOUR
NAME CORRECTLY.
>> YOU DID.
THANKS FOR HAVING ME.
