i am curious about what you think of sheryl sandberg's departure after 14 years.you think are leaving would change the internal culture, and how? >> so, the fact that mark remains is a much more significant issue than sheryl sandberg leaving. mark has surrounded himself with people who tell him the same stories over and over again. facebook is just a mere. it doesn't have responsibility. all these things we have been complaining about have always been present. we don't have any power. sheryl sandberg was a voice who said we have to get in front of issues and cannot just be reactive. we cannot wait for another story to leak, cannot wait for another united nations report saying -- like what happened with myanmar. i worry that because we don't have her voice inside the company that the number of senior leaders who are raising issues has gone down in a meaningful way. emily: elections are coming up what is your taking on how meta is handling this new election so far? >> i am deeply concerned about the upcoming election. other news sources, i believe the new york times

one thing, that pivot to mobile, sheryl sandberg was very involved. doesn't have today. and just because he executes one pivot correctly, i am not sure you can say he is going to execute the next correctly. the leaks and the news we have seen out of facebook are not super encouraging. as we learned last week from the verge and to the new york times, facebook is having trouble keeping its own employees interested in the metaverse, which makes you wonder how they are going to get people who don't work for mark zuckerberg excited about it. emily: check out max's latest piece. always good to see you in person. that does it for this edition of bloomberg technology. wednesday, the co-ceo of warby parker, talking about the future of his business after stocks tumbled since their ipo. check out our podcasts. i am emily chang. this is bloomberg. ♪

she expressed her concern that especially with sheryl sandberg leaving that mark zuckerberg still only mark zuckerberg to hold him accountable. take a listen to what she had to say. >> mark has stranded himself with people who tell him the same stories over and over. facebook doesn't have responsibility. all of these things we are complaining about have always been present. we don't play any role in this, we have no power. emily: what do you think? >> i think there is a degree to which facebook, as a gatherer of cultural expression, is merely reflecting what is going on in reality. but the idea that it shapes it, instead of something the company has embraced in its research internally, as a lot of documents have shown, i do think the company should be more transparent about that research and that they should be engaged in a dialogue of saying look, we understand that there are challenges to the change that social media presents to the way that people traditionally experience media. and we are trying to lead them. and moving into the metaverse, we want to make sure that safety and healt

she had an interesting thought about sheryl sandberg leaving the company.he company being fully in the hands of mark zuckerberg. take a listen to what she had to say. >> mark has branded himself with people who tell him the same stories over and over again, facebook is a mirror. it doesn't have responsibility. all of the things that were being complained about have been present, we are just showing them to people. we have no power. emily: david i'm curious what your thoughts are on that. david: i completely agree with her analysis of how they see this. to the degree zuckerberg thinks about the socio-cultural impact of the products he has built, he is still in the mindset of making the world a more open and connected is really cool. he thinks the metaverse is the next stage of that. he doesn't want to take responsibility for the ongoing problems that he has not resolved. i continue to think, the reason the company changed its name almost exactly a year ago at the height of frances haugen's revelations about errors and unresolved problems was to change the na

time to focus on declining revenue and rectify that that issue has been brought to the floor by sheryl sandberghe company earlier this year that is what the market is telling meta, not just today, but over the last six months >> meta expects losses from the reality labs unit, which includes the metaverse investors don't take to that too lightly. >> yeah. i think the economic outlook is bleak and in what we saw from google's results and facebook number two even tech, big tech, is not immune to a down turn with digital advertising. facebook, you know, digital advertising is the core business and it faces a number of risks the first is apple privacy settings in the price. apple is reforming the app store structure. that could hit facebook more of course, tiktok is just accelerating in terms of innovation and better algorithms and launching a gaming channel and regulatory issues for meta >> reading through the report, meta will boost capital spending about $39 billion to support the metaverse aspirations. that statement helped a number of chip players out perform. nvidia and marvel and arista netwo

transportation secretary pete buttigieg, arkansas senator tom cotton, outgoing facebook executive sheryl sandbergre at the highest levels of the private and public sectors u.s. and globally, as well as their children. mckinsey recruits heavily from the ivy league, promising not only lucrative careers but the chance to make a difference. >> were teamed with an exceptional client to take on some of the toughest challenges. >> this is attractive to idealistic young students. if they don't want to work for goldman sachs, morgan stanley where it is about money, here is a chance for them to work for a prestigious organization that they can do some good in that is the pitch. when a lot of these students get hired by mckinsey and start working there, they are disabused of that and working for things that have nothing to do with these lofty goals. amna: in a statement, mckinsey says the book fundamentally represents their -- misrepresents their firm and their work. point to their work helping to scale up global ventilator production and covid vaccines, and carbon removal investments, supporting refugees a

haugen, the now-famous facebook whistleblower, and she expressed concern that especially with sheryl sandbergving, that mark zuckerberg still only has mark zuckerberg to hold them accountable. take a listen to what she had to say. frances: mark has surrounded himself with people who tell him the same kinds of stories over and over again. facebook is just a mirror. it doesn't have responsibility. all these things we are complaining about have always been present, we are showing them to people. we don't play any role in this. we don't have any power. emily: what do you think? chris: i mean, i do think there is a degree to which facebook as a gatherer of cultural expression is merely reflecting of what is going on in reality. the idea that it shapes it instead, it is something the company has embraced in its research internally, as a lot of documents she put out, show. i do think the company should be more transparent about that research and that they should be engaged in a dialogue of saying look, we understand that there are challenges to the change that social media presents to the way that p

the these places, the kind of thing where i would call and -- the one i had is when i called sheryl sandberg and said hillary clinton is notot a liza. i have met her, can you take down all these conspiracy theories that she's an actual lizrd. and it ultimately led to pedophile and this and that. >> yeah. >> soim what do you imagine they're going to do now? what do you think's going to happen?ni lenny isoi doing this group and he's tryingwh to expand it -- >> yep. >> what happens next, from your perspective? >> well. on alex jones, so at the end of last year -- >> right. >> -- there were four separate defamation lawsuits filed by the families of ten victims. alex jones has lost those viewpoints -- suits because he refused to cooperate and give his business records or to provide adequate depositions. so he basically just defaulted himself. and so a they won. so it's a sweeping victory for the families. butow it means that now in the spring, just in a couple weeks from w now, the trials will beg, so juries will assess damages -- >> just damages. >> all that he's lost and all the juries have to

. >> sheryl sandberg left. a simple question, jim does meta have a zuckerberg problem?onally know zuckerberg but i think there is a sense that you need -- let's concede that he's a genius, he was brilliant at seeing the potential of facebook. does he have the discipline to run a megacap company like this? it would be asking an awful lot for one person to be able to do all these different tasks, to be both a visionary and a great chief financial officer, for example. so i think investors, they're very reassured at alphabet, for example, that they have ruth pourate as the chief financial officer, someone they know, they trust, wall street knows her, she's an adult in the room i don't think facebook has, now that sheryl is gone, in particular has a figure with that kind of stature on wall street the question is will they get someone like that, do they have someone like that? and again, if they do, they haven't really done a good job of communicating it. this is clearly, has always been the zuckerberg show and you either go with him or you don't. >> interesting answer, jim

transportation secretary pete buttigieg, arkansas senator tom cotton, outgoing facebook executive sheryl sandbergore at the highest levels of private and public sectors in the u.s. and globally. as well as their children. mckinsey recruits heavily from the ivy league, promising not only lucrative careers, but the chance to make a difference. >> your team can take on some of the worlds challenges. mike: this is very attractive to idealistic young students. you know, if they don't want to go work for goldman sachs, if they don't want to go work for morgan stanley, where it's all about money, here's a chance for em to work for a very prestigious organization that .hey can actually do some good that's that's the pitch, at least. unfortunately, when a lot of these students get hired by mckinsey and start working there, they're disabused of that and are often working for things that have absolutely nothing to do with these lofty goals. amna: in a statement to the newshour, mckinsey said the book, "fundamentally misrepresents their firm and their work," adding, "when we have made mistakes, we acknowledg

top, the fact that mark zuckerberg has control, majority control of this company they've lost sheryl sandbergexample when you see -- when you see the spend being put forth that something the market is clearly rejecting, how real is that risk, even if it is a value proposition trading where it is today? >> look, there's no question, investing in meta means investing and believing in zuckerberg go back to 2012 when they were making the move to mobile. i went back this morning and it looks like capex is a percentage of revenue spiked, doubled to 24% in 2020 -- in 2012 in 2018 when they made the move to stories their capex doubled it went to 25% now we're talking about capex in the 25% to 30% these are huge numbers i believe -- i know it i get it but zuckerberg has proven to be right at least twice in the past and so that's what you're betting on if you decide to go along with the stock today. >> how long do you have to wait for him to be right? >> well, you don't have to wait for him to be right, david, on the metaverse because that's going to take three to five years to get any insight it's the

former chief operating officer sheryl sandberg is donating $3 billion to the aclu for the fight for abortionrganization says the donation will give it a running start against state and federal efforts to overturn roe v. wade. bloomberg estimates sandberg is worth $2.1 billion. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am lisa mateo. this is bloomberg. ♪ >> we are facing difficult times. you have an unprecedented level of inflation. they key point is to stand united. that is what i think there is a need for an action plan at the local level against inflation. jonathan: the french finance minister sitting, bloomberg. live from new york, we will catch up with maria in a moment. price action on the s&p 500 and beyond. we build on the gains from yesterday. 1.6% on the s&p. equities of i-59 point. yields lower by 4% or 5%. the dollar weaker. euro-dollar positive .6%. cash is no longer trash. responding to the sum of that perhaps. 60/40 down 20% on the year to sake cash is no longer trash would ha

in time top executive leaves a cfo or somebody like sheryl sandberg, suggesting to you --. would agree with that. tom: facebook down 43% since june 1. jonathan: you are calling it sandberg day. just brutal. tom: david kirkpatrick absolutely nailed the success of facebook. i was wrong. kirkpatrick, the facebook affect author nailed it. i wonder what he would say now. jonathan: you seen how many people are getting their news from tiktok? that is slightly concerning. tom: we have a internal bloomberg surveillance, welcome you to a bloomberg meeting, should we be on tiktok? i have people suggesting me that i should be on tiktok. no. i just do not get it. for us to be on tiktok ,hi, the yen is up. lisa: it's about the ownership of a company steepening strengths between the u.s. and china. where the data is coming from and being hosted, there is this real insecurity about that about one of the main and quickly growing. i would say another one, like snap. that is the my kids use. i feel like that guy, the guy coming in. tom: my kids are not on snap or tiktok. lisa: congratulations