keep the core running let's take a look at snap and bring in the manager and cnbc contributor casey newton, a platformer casey, i don't know if you have any particular insights into which of these buckets it might be competition, kind of an auction recession or a broad, digital ad collapse and the implications are huge depending on which it is. >> absolutely. when i had been reading my analyst this morning i'm really leaning toward this being an apple issue. when it changed the way that advertisers are able to measure the e fffectiveness of their ad it took the wind out of the market and it will take years for the ad industry to get the measurement tools back to where they need to be. in the meantime it will be a world of pain for companies like twitter that are relying on it >> it does seem like there's this issue of companies pulling back their spend, not necessarily having to do with targeting, specifically. >> companies are going to be pulling back their spend in general and as you said, the easiest money to turn off is going to be the first, but i do think it's really important, and i

editor and cnbc, casey newton, welcome. >>> that is exactly right, sean, you think about all of the sensitivehese tech companies know about us and there are almost no national laws regulating how they use that data. there are these giant data brokers companies that can justify up essentially whatever they want to know about us and use it however they like. i think there is a lot of appropriate attention on tiktok and with the chinese government may or may not have access to. until we have a national privacy law, every tech company will find itself in the situation that some point. >> not only a national privacy law but doesn't there have to be a way of auditing this in some way? it is one thing to say, you can't share data on u.s. citizens outside of u.s. soil, but how do you check and make sure? >> that is right. it is really comp located. as an american citizen, having a conversation with a chinese citizen on tiktok, who owns that data? there are going d not just have to take their word for it. >> casey, as you have been talking about it, it is so hard to understand who is accessing data. t