kurt wagner, thank you for your reporting. david, do you believe her? is this officially sheryl sandberg moving into philanthropy? david: she is a multibillionaire, she can do whatever she wants. she will certainly be effective as of for linda best. -- as a philanthropist. it may suit her better. i know she has been interested in politics for a long time. for many years she really had hoped that that would be her eventual direction. my own opinion is the way that the facebook story has evolved in recent years has made it extremely difficult for her to move into democratic party ballistics -- party politics, which is what she would do. facebook is a persona non grata in the democratic party. facebook has been shown to have so many social harms. she is to some extent responsible for not having taken an affection on it. -- taken enough action on it. emily: what about an appointed office? david: sheet has been talked about being a treasury -- she has been talked about being a treasury secretary in the past. she would be a good one. a role like that would be

emily: for more, i'm joined by kurt wagner and david kirkpatrick. you and i both spoke to cheryl exclusively on the phone. we've been preparing for this. we never thought it would happen. give us a little bit more context about why you believe cheryl is making this decision. kurt: she was very clear in our conversation, it felt to me that this was a much more personal decision than anything for her. she talked about the fact that she's getting married this summer. she will be blending her family with her fiance's family. she's very passionate about her philanthropy work and lean in. those were the types of things that she talked about. when you start to take a step back and look, some of her biggest responsibilities, running all of policy has been handed off to nick clay. so the legal side had already been handed off. you look at the trail that led us to hear. , she's been there a long time. some of her responsibilities started to hand off to other people. we've been asking this for a long time. it wasn't necessarily shocking. >> she told us that sh

kurt wagner joins us to discuss. tell us more about the significance of this fund's involvement. kurt: it just goes to show how far-reaching elon had to go in order to get funding for this deal. it also goes to show how international i think there is interest in twitter right now. mostly in funding a project that elon musk cares about. buy has a history of connecting itself with these big-name tech backers like elon. i think they are also in the boring company, which is elon. they have done investments in spacex before. i just think it kind of gives a bit of an international flair to this whole thing and goes to show exactly how far elon is having to go in order to find funding for this thing. emily: and they are the third-largest outside equity investor in the deal, so they are getting a big chunk of this deal. talk to us about where the discussions between musk and twitter stand on bots. there has been a lot of back-and-forth. kurt: the latest this week was that elon came forward, he formerly filed a letter with the sec saying again, hey, i may walk away from this deal if i do n

we bring out tech reporter kurt wagner. what will her legacy be? the last 14 years, she has kind of been this personality foil to the public to mark bloomberg -- to mark zuckerberg. kurt: she built facebook from this scrappy little start up to one of the most successful businesses in the entire world, and she gets a lot of credit for that and should, but at the same time, you look at where facebook's reputation is right now, all the issues they have had around data collection, data privacy, that falls into the ads business as well, so she is certainly leaving having accomplished an incredible amount for the business, but from facebook's reputation standpoint, there's a lot of things she worked on personally that people still take quite a bit of issue with, so i think we will have to look back in time to see which of those two things stand the test. shery: she has been a personality, but also she has made fewer public appearances over the last few years. we know some of her role was also passed on. i know she said she also wanted to focus more on phi

kurt wagner joins us now to discuss. we have seen the struggles that netflix is having. snap moving into this business? kurt: you will recall twitter did this as well. i think this has to do with the fact that these are advertising companies. it has been a tough year with everything happening with apple and the tracking changes, and i think these companies that mostly built their business around advertising or realizing it is not always in their control, not always in their hands. it is good to have other forms of revenue, even if they are small, to counterbalance that somewhat. you are seeing social platforms start to tinker with subscriptions. emily: what kind of premium content do i get for $3.99 a month? kurt: it sounds limited. you can change your app icon and prioritize certain messages and maybe in the things you use regularly. i don't think it is the kind of thing the vast majority of but will want to use. similar to twitter, it is more a power user, someone who does all or most of their communication on snap. maybe that is worth a couple bucks to you. emily: wil

yvonne: let's get more from kurt wagner in san francisco. thanks for staying up. s through it. was this a surprise or has her departure been something that people were expecting for some time now? kurt: i don't think it's anything that people were expecting today necessarily. it's the kind of thing i've been asking around about for a couple years now. think about how long cheryl has been there. think about how much success she has had from the business side. she has made a lot of money. she doesn't need to do work for that reason anymore. and then you look at the scandals, the drama that's happening with facebook and how much of that has really been teams and organizations that she has led. this has been something that we've been monitoring for a while. it wasn't necessarily expected at this exact moment. but it's a possibility or reality that we were preparing for for a while. rishaad: what's her legacy and how does she perhaps use that legacy and what she wants to do next? kurt: she talked a lot today -- i spoke with her by phone. she talked about wanting to lean

haidi: kurt wagner there with the latest on mena -- meta. managing director has been named for the asf. we have confirmation after reports it would be announced after that four-month international. she joined in 2020 and was promoted through the ranks. we are expecting the current office holder to stay until july 2022. he intends to retire after the transition through the end of september. more to come on "daybreak australia." this is bloomberg. ♪ su: jp morgan ceo jamie dimon telling investors to prepare for an economic hurricane as the economy struggles against an unprecedented combination of challenges including tightening monetary policy and the war in ukraine. he cited the strength of the consumer, rising wages, and job growth as bright clouds, but he says the central bank is bracing for turbulence by tightening its balance sheet. >> right now it is sunny, things are doing fine, everyone thinks the fed can handle this. that hurricane is out there right down the road coming our way. we just don't know if it is a minor one or superstorm s

he plans to enforce their agreements bjerga joining us at a break it down is bloomberg's kurt wagner.hank you so much as always for joining us. this is fascinating to watch the saga continue. have to ask, what's the likelihood twitter can actually enforce this deal and the $1 billion breakup fee is not actually used? >> well, in terms of legality, they can force him, they can bring this to court. and basically attempt to force him to do the deal. that would be time-consuming, it would probably be very expensive and very messy. my guess would be that at certain point, there would be some kind of settlement, rather than dragging this whole thing out, and for somebody who doesn't want to buy a company to buy a company. i think in that case, the $1 billion would have to just be the baseline. for any type of financial payment. because twitter is going to lose so much more than that in stock value and market cap. if this deal falls apart. >> we of course are going to keep an eye on that. i believe twitter shares are down in the session. still ahead -- we will stick with the tech story. the