you know , uh, there, and banned instagram has invested billions of dollars over the years. and the best the minds of the world gathered in teams that created it like this, you can’t replace it with a click, you don’t have to be deceived yourself. there is no need to be extreme, but naive, but this is some path that needs to be taken. china, i have already passed it. in general, quite successfully means, and well, we will pass. well , let's tinker a little. uh-huh, but in general, in principle, e since the social network is such an evil. this can somehow form some kind of public opinion, that yes, guys, is this evil something that needs to be abandoned somehow or is it necessary? just technology some kind of creation of social networks that will not manipulate you like that, of course, the technology itself is neutral, but the question of the value picture of the person who owns the keys to it, well, it’s not the gun that shoots the person that shoots, of course, you are absolutely right. and yes, there is a position that the future belongs to centralized networks. when you

yes, we can't ban youtube, we can't ban instagram, we can raise it in facebook.here will be excitement there. listen to these extremist organizations. they are officially recognized as extremist in russia. they are all lies, they are all discord not all fakes, they sow. uh, combat propaganda here. i come home here, for example, imagine there is a television channel. yes, pornography shows constantly and here i am raising children. well, what will i do, like a father? yes, i'll turn it off, of course, or i should worry about what the children will say, dad, you're somehow not acting democratically. that is , they shoot at us 24 hours a day. well, it is clear that this is a lie, it is clear that this is combat propaganda , it is clear that this is not just. that is, it is already clear to everyone what, for example, youtube is there facebook is already clear. disable it immediately. yes, there is nothing to replace, but this is step two, that is, now it’s different, then we are losing people right now we are losing those who would be on our side, well, in the form

that's the way a lot of western voices are talking these days. notice that no one's calling for a ban on instagram or facebook or google, despite their well known relationship with the u. s. government and it's intelligence apparatus. do you remember the cambridge analytic a scandal? 87000000 facebook users had their personal data turned over to a private firm that used it for political purposes. outrage and lawsuits ensued on average, how many data points to space book? how about each facebook user? i do not know off the top my head, so the average for non facebook platforms is 1500. it's been reported. the facebook has as many as 29000 of data points for an average facebook user. you, it, many, many talents of this story are the original bad guy or the guy who took the data from facebook and sold it to cambridge analytic guy, the political firm in a word. was it wrong to do that where you wrong? at the time where the thing we're doing anything wrong that was just our normal business as usual practice. i think right now absolutely are viewed as wrong. now that we know how people feel about it, sh

that's the way a lot of western voices are talking these days. notice that no one's calling for a ban on instagram or facebook or google despite their well known relationship with the u. s. government and it's intelligence apparatus. do you remember the cambridge analytic a scandal? 87000000 facebook users had their personal data turned over to a private firm that used it for political purposes. outrage and lawsuits ensued on average, how many data points to space book? how about each facebook user? i do not know off the top my head, so the average for non facebook platforms is 1500. it's been reported that facebook has as many as 29000 data points for an average facebook user. facebook doesn't just know who you are. it also knows where you are. if you have location tracking turned on, facebook collects an enormous amount of location data about where you're going, where you came from, where you live, where you work, you, in many, many talents of this story. are the original bad guy or the guy who took the data from facebook and sold it to cambridge analytic guy, the political firm in a word. was i

. >> your view is tiktok gets banned, instagram pulls all of that traffic into reels, would you, thereforeobably. by the way, that's not our soul investment thesis on meta, i led with that because it is a point of differentiation for us, but that's not our investment thesis on meta. i think they have 40% of the global internet population, i think that they're going to figure out what's going on in terms of regearing their ad attribution after the ios changes. but just to go back to the point about tiktok, i do think that that does kind of benefit across the board and i would just say tiktok is going to be a political punching bag in the next two years and i think meta will be a beneficiary of it. >> gene, we want to thank you for helping us through with this this morning. >> thank you. >> we have watched the tech stocks continue to fall and we will see which way they head today. >> thanks, andrew. a final check on the markets you have seen the futures this morning rebound a little bit, dow futures up by 53, the nasdaq by u. up by 53, too, and the s&p up by 10 that does it for us today. we

how does this compare with what meta-, instagram and twitter have done as far as their stance on politicians making money? >> tiktok and twitter have completely banneditical ads. there is no moneymaking there. facebook and instagram, those ads are still able to be up. i still see content on those platforms soliciting donations. it seems like tiktok is taking a step further than some of its big tech peers. but as this evolves and social media platforms tend to exchange ideas, it will be a place we will be watching more closely, particularly if there is any dustup with facebook or instagram in this election season. emily: alex barinka, thank you very much. coming up, his firm just raised $230 million. where will that money go? eric hippeau joins us to talk about his big bets. this is bloomberg. ♪ ♪ emily: lerer hippeau announced plans to invest 230 million dollars across a couple of funds. also back is a full-time investor, cofounded the firm before becoming the ceo of group time media. joining me now, eric hippeau, manager at lerer hippeau. -- fundraising environment for these two funds given a challenging macroeconomic backdrop. >> good to be with y

does this compare to what meta, instagram and twitter have done in terms of their stance on politicians making money? alex: tiktok and twitter both have completely bannedolitical ads, so there is no moneymaking there. on meta'platform, facebook and instagram, those ads are able to be there. i am still seeing content on the platform soliciting donations, so it seems tiktok is taking it a step further than their big tech peers. but social media platforms tend to exchange ideas and it will be something we will be watching closely, particularly if there are any dust-ups with facebook were instagram in this election season. emily: alex barinka, thank you very much. coming up,'s firm just raised $230 million. where will that money go in the downturn? eric hippeau joins us next to talk about that. this is bloomberg. ♪ emily: lerer hippeau, one of new york's top venture capital funds , just announced plans to invest 230 million dollars in early stages. the former ceo is also back as managing partner. joining me now is eric hippeau, managing partner at lerer hippeau. great to have you back with us. tell us what the fundraising environment was like, given a very

chinese government offered bytedance protection, while banning competing social media apps, facebook, instagram, google. like all chinese government -- companies bytedance, it runs an in-house communist committee that enforces the political loyalty of its employees. in 2018, bytedance and tiktok's founder, wrote a letter promising chinese regulators that his company would follow "core socialist values" introduce correct values into products and in what it -- and would ensure it would promote the chinese communist agenda. it would strengthen the work of the parties instruction, deepening cooperation with the official party media and strengthening content review in line with the party values. bytedance's public statements and china should be cause for alarm, considering american government employees, military personnel and workers use talk. -- tiktok. i was an investigative journalist and china's western region of xinjiang, and i was writing my book about the chinese is surveillance dystopia. i learned that bytedance and ti ktok was expanding into america and i knew this was ominous because i had

it in the army, we're not banned, and in social networks, if something was filmed somewhere, someone, well, shoot this and shoot this video there well, just put it on instagrams like, they said it's not possible to have a phone there , so you'll check it, they inserted the phone and then they went to another country. in the kharkiv region, there is a first wave - it was the training of 150,000 people, then when they realized that their history would not end in three days, they began secret, uh, secret mobilization, that is, they have no options to leave and there is no way to return . well, the judge is there, uh, personally, the road will finish you , she will close it, and so on. it’s better not to dig in. i said, if you cancel yourself, they said, you will put me somewhere. well, my parents knew that i had a girlfriend, too, and a strong one, too, and the military said that they had arrived . we are like a court, it will soon be 10 years old , they said there, they said no, it is impossible to bring responsibility because it is not er , so it is a mandatory state of fires, while it was burned in its own time, it is not trying to change it. for sure it was

80,000 subscribers on telegram, a popular social media channel in russia where instagram, twitter and facebook are bannedwest such as moscow and st. petersburg and according to the latest statistics i have seen from the human rights monitoring organisation, around 3000 people have been detained in cities across russia and most of these in st. petersburg but about 500 people there and also moscow were about a50 had been detained. there and also moscow were about 450 had been detained.— had been detained. looking at ictures had been detained. looking at pictures here _ had been detained. looking at pictures here of _ had been detained. looking at pictures here of st. _ had been detained. looking at| pictures here of st. petersburg had been detained. looking at - pictures here of st. petersburg and jeffrey, coming on that, because i met people in the intelligence community are looking at these pictures and the people you put into the combat, the more people are coming home with stories of how it's going and state media can only do so much to cover up the reality of what is happening. much to cover up the re

banned? it is high. 70 or 80%. i think it is one or two years away. >> so, we know tiktok is the app for everything, certainly for younger folks, but how about instagramr 17 years old i'm getting my newsfeeds, i am getting -- unit, instagram seemingly is executing ahead of tiktok and into youtube, so, why is mehta or facebook not performing here? talk about this. i think we all universally say we do not necessarily love the company, sometimes you love the stock, sometimes you don't. i don't want to put words in your mouth. >> i would say those are my exact thoughts. this is one that i really struggle with. i think that there are products that i do not think make the world a better place. think apple's products make the world a better place but i don't think mehta doesn't i think there has been an overreaction in stock with mehta relative to the competitive threats on tiktok i outlined why i think ultimately that gets banned, but i think what is more important is that the reach that mehta house, with all these properties, basically 40% of global internet audience uses their product on a daily basis, it is a big audience, and i think that all the issues