Amanpour and Company

>>> TO THE TECH INDUSTRY MAKING HEADLINES, NOT ALWAYS FOR GREAT REASONS. FACEBOOK, META, TWITTER, GOOGLE AND NETFLIX. WHAT IS HAPPENING IN WHY DOES IT MATTER? TO TAKE US THROUGH IT IS ONE OF THE BAT BEAT'S TOP REPORTER. SHE JOINS HARRY. >> LET'S START THIS CONVERSATION THIS WEEK, META, FORMERLY SAID KNOWN AS FACEBOOK AND PLATFORMS AND SAY THEY HAVE PUT IN CERTAIN GUARD RAILS TO PREVENLTS WHAT HAPPENED ON JANUARY 6th AGAIN AND THERE WILL BE CONSEQUENCES IF HE CONTINUES TO DO WHAT HE'S DONE SO OFTEN ON SOCIAL MEDIA WITH THEM. >> YEAH. >> DO YOU THINK IT WILL WORK? >> NO, NO. BECAUSE THIS TIME HE'S GOING TO BE BETTER. I DON'T KNOW, THE PAST TWO YEARS THAT HE'S BEEN OFF, HE'S BEEN PRETTY I WOULD SAY RACIST, HE LIES THROUGH SOCIAL. HE'S BEEN SINCE THAT TIME. AND HE'S DOING THE SAME THINGS HE GOT KICKED OFF BEFORE. I DON'T UNDERSTAND WHY THEY THINK HE'S GOING TO DO THE THINGS HE'LL DO NOW BECAUSE HE HASN'T LEARNED HIS LESSON. >> THE COMPANIES WANT TO THREAD THIS NEEDLE WHERE THEY DON'T WANT TO GET JAMMED UP BY CONSERVATIVE SKPLS AT THE SAME TIME, THEY WANT TO DISH THIS ALL OFF INTO THE OVERSIGHT. SAY WE HAD TO MAKE A LOT OF DECISION, IT'S BEEN TWO YEARS, HERE IS OUR DECISION. >> I GOT THAT. ONE OUT PROBLEMS IS WE MADE A DECISION AFTER YEARS OF HIM ABUSING THE PLATFORM AND DIDN'T DO ANYTHING ABOUT IT. IT'S LIKE RAISING A CHILD AND FEEDING ENDLESS SUGAR AND CUTTING OFF THE SUGAR AND GIVING SUGAR AGAIN BECAUSE HE CAN HANDLE IT BETTER. THE WHOLE THING IS CHAOTIC. THAT'S ONE OF THE THINGS THE OVERSIGHT BOARD POINTED OUT AND APPARENTLY NOW THEY HAVE RULES IN PLACE THAT THEY DID HAVE BEFORE BUT DIDN'T ENFORCE THEM. THE WHOLE THING, THEY WILL SPEND THEIR WHOLE TIME WHACK A MOLE AND PROBABLY HAVE TO KICK HIM OFF AT SOME POINT. THAT HAPPENED WITH ELON MUSK ON TWITTER. THEY HAD A WHITE SUPREMACIST BACK ON AND KICKED HIM OFF RIGHT AWAY. SAME THING WITH KANYE. THESE PEOPLE DON'T CHANGE AND LOVE GAMING THE SYSTEMS AND IT'S NOT THEIR FAULT AT THIS POINT. IT'S THEIR PLATFORMS. HAVE RULES OR DON'T HAVE RULES. >> HAS THE LANDSCAPE CHANGED SIGNIFICANTLY ENOUGH? SET ASIDE KIND OF THE -- >> RIGHT, THE SAFETY. >> YEAH, I MEAN, I THINK, I DON'T REALLY WANT -- NICK IS A VERY SMART GUY BUT HE'S THE ONE THAT SHOULD DETERMINE OUR PUBLIC SAFETY AND WHO IS SAFE AND NOT SAFE? I GUESS HE CAN ON HIS PLATFORM. I WISH THEY WOULD SAY HE DECIDED TO DO IT. WE'LL DO WHATEVER WE WANT. I PREFER FOR THEM TO SAY THAT. NOW, A PUBLIC -- A PRIVATE COMPANY, A PROFIT MAKING COMPANY IS DECIDING FOR THE REST OF SOCIETY WHAT SHOULD HAPPEN. THAT'S WHERE WE ARE AT THIS MOMENT THESE SOCIAL MEDIA PLATFORMS HAVE SUCH POWER. LET'S JUST SAY FACEBOOK HAS A LOTLESS POWER FROM TWO YEARS AGO, WHICH IS I THINK PROBABLY A GOOD THING. THERE IS MORE COMPETITION AND AUDIENCES HAVE GONE ELSEWHERE. MAYBE THAT WILL HELP IT. >> ANOTHER TOPIC MAKING HEADLINE IN THE TECH WORLD AND I DON'T KNOW IF THE PROBLEM IS MAKING HEAD LIVES OR THE UNDERLYING LAYOFFS, YOU'RE HEARING ABOUT SPOTIFY CUTTING ABOUT 6% OF THE WORK FORCE AND GOOGLE 12,000 AND AMAZON 18,000, THE ECONOMY HAS HUNDREDS OF MILLIONS OF JOBS OR MILLIONS OF JOBS AND THIS IS A VERY SMALL DROP IN THE BUCKET BUT IT SEEMS TO HAVE AN OUT SIZED AMOUNT OF ATTENTION THAT IT GETS WHEN THESE COMPANIES DO. WHY DO YOU THINK THAT IS? >> PEOPLE ARE OBSESSED WITH TECHNOLOGY PEOPLE. THEY HIRED ENORMOUSLY DURING THE PANDEMIC BECAUSE THE STOCKS WENT UP SO MUCH AND THEY OVER HIRED AND THEIR COST, THEY HAD TO BRING COST INTO LINE. AS SIMPLE AS THAT. I FEEL SORRY FOR ANYONE BUT FEEL MORE SORRY FOR NEGATIVE WORKER THEY HAVE A LOT OF JOBS AVAILABLE TO THEM AND THAT'S WHAT THEY'RE DOING. THEY HIRED 40,000 PEOPLE EITHER FACEBOOK OR MICROSOFT AND LAYING OFF TEN. A NET GAIN OF 30,000 IS STILL A LOT AND SO THEY'RE TRYING TO FIGURE OUT THEIR BUSINESSES WHEN THE PROSPECTS AREN'T AS GOOD AND THAT'S WHAT HAPPENED. THEY HAD A HUGE BOOM AND THIS IS VERY TYPICAL. THEY'RE CUTTING BACK. THEY'RE CUTTING BACK MORE THAN THEY USUALLY DO. THEY USUALLY KEEP THE PEOPLE IN PLACE FOR THE NEXT BOOM BUT IN THIS CASE, WALL STREET BECAUSE OF THE DECLINES IN STOCK ARE SAYING DO SOMETHING ABOUT COSTS ESPECIALLY. THAT'S WHAT IS HAPPENING. PEOPLE ARE INVESTING IN BUSINESSES AND CUTTING. MICROSOFT CUT HARDWARE STUFF. THEY HAVE NEVER BEEN GOOD AT HARDWARE. THAT'S A NATURAL PLACE TO DO IT. THEY DON'T HAVE ANYWHERE TO GO IN THE COMPANY. THEY CAN GO ELSEWHERE. THESE ARE NOT NEARLY AS BAD AS THE LAST TWO. LOTS OF COMPANIES ARE FORMED IF PEOPLE GET LAID OFF, THEY DO STARTUPS. IT'S A TROPE FOR SILL VON VALLEY BUT TRUE. >> SPEAKING OF MICROSOFT, THEY DECIDED TO PUT A MUCH BIGGER INVESTMENT FOR ANYBODY IN OUR AUDIENCE THAT DOESN'T KNOW WHAT CHAT GPT IS. IT'S A LARGE LANGUAGE MODEL TRAINED TO ANSWER QUESTIONS IN A VERY NATURAL HUMAN SOUNDING WAY. WHY IS THIS SIGNIFICANT? >> I DON'T KNOW IF IT'S AS SIGNIFICANT AS THE PRESS MAKES IT TO BE. IT'S A STUNT. OH, LOOK, IT CAN TALK LIKE A PERSON SORT OF THING. I'M GOING TO WAIT TO SEE WHERE THE ACTUAL BUSINESSES ARE. THERE IS GOING TO BE A LOT OF INVESTMENT AND GOOGLE AND FACEBOOK AND META AND AMAZON AND APPLE ALL HAVE VERY SIGNIFICANT A.I. BUSINESSES. NOT DOING IT THIS WAY. THIS IS A MORE LOUD GPT WANTS TO GET MARKET SHARE AT THE MOMENT WHEN PEOPLE ARE PAYING ATTENTION TO IT. MICROSOFT IS FAR BEHIND IN SEARCH AND TO GET IN HERE, TAKING THE LEAD, THEY HAVE SOME OF THE MOST INVESTMENTS IN A.I. WHAT DO YOU MAKE OF IT. HOW DOES IT CHANGE SEARCH AND THE WAY WE BEHAVE NOW? THAT WILL BE INTERESTING. RIGHT NOW, THERE WILL PROBABLY BE A BOOM AROUND IT AND FEEL LIKE CRYPTO LIKE EVERYONE WILL HAVE A CHAT BOT OR WHATEVER. LET SEE WHERE THE BUSINESSES ARE RATHER THAN WRITING A TERM PAPER FOR A STUDENT IN COLLEGE. IT HAS TO BE A BUSINESS BEYOND THAT. SOME APPLICATIONS IN SEARCH AND IMAGERY ARE REALLY INTERESTING BUT IT'S SORT OF SEARCH ON STEROIDS IF YOU THINK ABOUT IT. WE'LL SEE IF THAT BECOMES EVERYBODY GOING OH, AWE, IT'S A VERY GOOD DEVICE BUT YOU DON'T USE IT EVERY DAY AND WE'LL SEE IF PEOPLE WANT TO JOIN THE METAVERSE BUT NOT TODAY THEY DON'T. THERE ARE A LOT OF REASONS. WE'LL SEE. >> WHILE TEENAGERS ARE LOOKING UP HOW TO WRITE TERM PAPERS. >> THAT STORY HAS TO STOP. >> TEENAGER HAVES BEEN CHEATING FOR MANY, MANY CENTURIES. IT'S A FRESH WAY TO CHEAT. WHATEVER. I DON'T KNOW. >> I SAW A COLLEGE PROFESSOR OUT THERE SAYING MY PEERS AND I ARE LOOKING FOR HELP GRADING THE PAPERS. >> WHATEVER. WHATEVER. >> BUT I WONDER ALSO, YOU KNOW, CATEGORY OF THE TECH COMPANIES THAT ARE ALSO SUFFERING THROUGH THE PANDEMIC AND MAYBE COMING OUT THE OTHER SIDE IS THE STREAMING PLAYERS. RIGHT NOW NETFLIX ANNOUNCED THE CO-FOUNDER AND FIRST CEO IS TAKING AN EXECUTIVE CHAIRMAN ROLE AND HE'S GOING TO HAVE TWO CO-CEOs. SORT OF SOUNDS LIKE HE'S STILL GOING TO BE IN THE MIX. >> HE IS. HE IS. >> YOU KNOW, THEY'RE COMING OFF OF MAYBE A BOTTOM. THEY KIND OF OVER SPEND IN THEIR TIGHTENING THE BELT IN A BIG WAY. WHAT DO YOU SEE FROM THEM AND HEAR FROM PEOPLE IN THIS ENTERTAINMENT ARENA WHAT NETFLIX HAS TO DO TO TRY TO REGAIN SOME OF THE SWAGGER. >> IT'S A MEDIA COMPANY. IT HAS TO KEEP DOING HITS. THAT'S HOW YOU WIN. IT IS A TECH COMPANY BUT NOT REALLY. IT'S A TECHISH COMPANY DELIVERING. EVERYONE IS ON HOW TO DO THAT NOW. IT SORT OF ARE YOU IN THE CAR BUSINESS? YOU'RE NOT IN THE ENGINE BUSINESS BUT YOU ARE KIND OF THING AND THEN YOU COMPETE ON DESIGN AND COOL CARS AND VARIOUS THINGS THAT CONSUMERS WANT. WHAT HAPPENED, THERE'S A LOT OF SPENDING GOING ON. THERE'S STILL A LOT OF SPENDING GOING ON. NETFLIX MANAGED TO EKE OUT A GOOD BUSINESS DOING IT. THEY HAVE COMPETITORS SUFFERING LIKE BECAUSE IT COSTS SO MUCH TO GET INTO THIS BUSINESS AND THEN THERE ARE BIG TECH COMPANIES LIKE APPLE AND AMAZON WHICH HAVE MORE MONEY THAT CAN REALLY SPEND HERE SO I THINK IT'S STILL GOING TO BE A SPENDING SPREE BUT A LOT OF PEOPLES LIKE DISNEY WILL HAVE TO FIGURE OUT HOW TO DO COSTS AND MAKE MONEY BECAUSE YOU CAN'T HAVE AN ENDLESS AMOUNT OF MONEY OF THESE STREAMING SERVICES AND CONSUMERS WANTING TO BUY THEM. WE'LL SEE. DO PEOPLE WANT OLD I.P. LIKE STAR WARS OR BOND? THERE IS PLUS ON EVERYTHING AND WILL THEY HAVE TO BE BUNDLED? WHERE IS THE VALUABLE THING? I THINK UNBUNDLING AND BUNDLING IS SOMETHING THAT HAPPENS ALL THE TIME BACK AND FORTH BUT NETFLIX HAS AN UNDER READ HASTINGS. REMARKABLE PIONEER IN THE FACT THEY CONTINUE TO INNOVATE IS IMPRESSIVE. WE'LL SEE. THEY'RE GOING TO ALWAYS BE HAVING TO COMPETE FOR TALENT AND GREAT SHOWS AND THINGS PEOPLE LIKE AND QUITE GOOD AT IT. AND SO WE'LL SEE IF SOMEONE GETS BETTER. IT'S HIGHLY COMPETITIVE SO KEEP ON THEIR TOES. >> LET'S TALK A LITTLE BIT ABOUT ELON MUSK. TESLA, THE PRIMARY COMPANY THAT HE MAKES MOST OF HIS MONEY FROM JUST ANNOUNCED EARNINGS RECENTLY AND AT THE SAME TIME MIGHT HAVE MISSED WALL STREET ESTIMATES. SO GIVEN THAT HE IS SPENDING SOME OF HIS TIME THESE DAYS BETWEEN COURT CASES. HE WAS IN A FEDERAL COURT ABOUT A TWEET SAYING HE SECURED FUNDING AT $420 TO TAKE THIS COMPANY. I MEAN, SO THERE IS THAT CASE. THEN THERE IS -- >> THERE'S A LOT. >> THERE'S A LOT OF DIFFERENT COURT CHALLENGES THAT HE HAS WHILE ALSO MANAGING THIS COMPANY TWITTER HANDS ON, WHICH HE'S DOING. YOU KNOW, I DON'T EVEN KNOW WHERE TO BEGIN BUT WHAT DO YOU THINK THE KIND OF ACCOUNTABILITY IS THAT PEOPLE CAN EXPECT? I KNOW THERE IS TESLA SHAREHOLDERS THAT ARE UPSET SAYING HEY, COME BE THE CEO OF THIS COMPANY I HAVE ALL MY MONEY. >> IT DIPPED QUITE SIGNIFICANTLY DOWN CLOSE TO $100, WHICH WAS AMAZING. GIVEN HOW RIDICULOUS THE PRICE WAS. IT WAS UP IN THE COUPLE HUNDREDS OF DOLLARS AND THAT'S WHERE E D DE -- ELON SOLD. HE'S GOT THIS BUSINESS IN THIS SPACE. THAT SAID, THERE'S A LOT OF COMPETITORS AND DECLINE IN DEMAND. HE HAD TO CUT PRICES. HE HAD BETTER MARGINS SO HE CAN DO THAT. BUT PEOPLE WILL GO AND BUY OTHER THINGS AND MANUFACTURING AND PEOPLE TEND TO CATCH UP AND PEOPLE ARE COMMITTED WHETHER MERCEDES OR FORD OR THESE NEWER COMPANIES LIKE LUCID. HE'S GOT A LOT OF PRESSURE EVEN THOUGH HE DID WELL AND SOLD A LOT OF CARS. EVERYONE IS NOT GOING TO WANT A TESLA, THEY WILL WANT SOMETHING ELSE. THE ALTERNATIVES ARE GETTING BETTER AND BETTER. THAT'S UNDER PRESSURE AND HE SHOULD BE FOCUSSING ON THAT. IT'S BEEN WHERE HE DOMINATES AND THEN THERE IS SPACEX HE'S DOING WELL DOMINATING IN ROCKETRY AND HE HAS COMPETITORS THERE. THESE ARE TWO SIGNIFICANT BUSINESSES CHALLENGED AND COSTLY AND YOU NEED TO FIGURE OUTWEIGHS TO -- WAYS TO CONTINUE TO DOING THEM. IN TESLA'S CASE THEY WANT TO EXPAND BATTERY PLANTS. GREAT IDEA. THAT'S WHERE MONEY SHOULD GO. I THINK MOST THINGS TEND TO FOCUS ON SILLY THINGS THAT AFFECT BUSINESSES. SILLY AND TERRIBLE THINGS, ACTUALLY. IT BECOME REALLY KIND OF EVERY DAY HE SAYS SOMETHING OUTRAGEOUS TO ATTRACT ATTENTION TO HIMSELF BECAUSE HE'S OBVIOUSLY SO SHY. HE'S CREATING PROBLEMS WHEN HE HAS SIGNIFICANT BUSINESSES TO PAY ATTENTION TO AND OVER TWITTER HE'S WRECKING IT FOR REASONS HE SAYS HE'S GOT A MASTER PLAN. OTHER PEOPLE THINK MAKE HE'S JUST DOING IT BECAUSE HE FEELS LIKE IT. TWITTER IS NEVER A BIG BUSINESS LIKE TESLA AND SPACEX. >> I WONDER ABOUT THE DIFFERENT LEVERS HE HAS OR GOVERNMENTS HAVE OVER HIM. HE HAS TWO BIG BUSINESSES, TESLA AND SPACEX THAT ARE VERY INTERTWINED, ONE WITH CHINA AND ONE WITH THE UNITED STATES. CHINA COULD BE WE HAVE THOSE CARS BUT COULD YOU DO SOMETHING ABOUT THE ANTI CHINA STUFF ON TWITTER BECAUSE IT WOULD BE TOO BAD IF THERE WAS A LOCKDOWN AROUND YOUR FACTORIES ON ONE HAND AND IF THE U.S. WANTS TO DO SOME SORT OF REGULATION, HE COULD TURN AROUND AND SAY YEAH, YEAH, CAN YOU FIND YOURSELF A DIFFERENT RIDE TO THE INTERNATIONAL SPACE STATION? >> RIGHT, RIGHT. HE'S GOT TO BE CAREFUL ABOUT THAT THEY WILL FIND ANOTHER RIDE EVENTUALLY. THIS COULD SEEM RIDICULOUS ON SO MANY DIFFERENT LEVELS WITH A VERY BADLY RAISED 10-YEAR-OLD BOY, I THINK. EATING A LOT OF SUGAR SPEAKING OF SUGAR AND OTHER THINGS AND SO THAT'S THE PROBLEM THERE AND THEN YOU HAVE THESE SIGNIFICANT BUSINESSES THAT ARE PROMISING. AT SOME POINT YOU CAN PUSH IT SO FAR WITH EVERYBODY. EVERYBODY SAYS, YOU KNOW, MY GRANDMOTHER USED TO SAY THE GRAVEYARDS ARE FULL OF INDISPENSABLE PEOPLE. IF HE PUSHES THE GOVERNMENT TOO FAR IN THE UNITED STATES, THEY WILL FIND OTHER ALTERNATIVES. IF CONSUMERS GET MAD -- MOST OF THE PEOPLE THAT BUY TESLA ARE THE ONES HE'S ATTACKING NOW, THE WOKE PEOPLE MAYBE THEY WILL GET TIRED OF SOMETHING ELSE. EVERY BUSINESS WILL BE CHALLENGED BUT YOU'RE RIGHT, IF HE'S USING THEM TO HELP OTHER BUSINESSES, IT STARTS TO GET DICEY FOR HIM AND FOR EVERYBODY ELSE. THERE WILL BE COMPETITORS AND THERE WILL BE -- HE'LL LOSE A COURT CASE OR THE GOVERNMENT WILL SAY ENOUGH OF YOU. YOU'RE A SECURITY RISK. WHATEVER HAPPENS HAPPENS. IT'S A SHAME. A LOT OF HIS BUSINESSES ARE REALLY QUITE INNOVATIVE. AND YOU CAN'T DO ALL THOSE BUSINESSES AT ONCE. HE IS SPREADING THIN AS A PERSON. IN THAT CASE, HE'S SORT OF LIKING TO BE THE IRON MAN KIND OF GUY BUT NOBODY -- THAT'S A FICTIONAL CHARACTER. VERY DELIGHTFUL MOVIE. WE'LL SEE. >> SPEAKING OF SECURITY RISKS, THE UNITED STATES AND LOCAL GOVERNMENTS, FEDERAL GOVERNMENTS HAD CONVERSATIONS HOW TO TREAT TIKTOK. IS THERE A THERE THERE? >> THEY'RE TRYING TO NOW. THE COMMITTEE ON FOREIGN INVESTMENT IS TRYING HARD TO FIGURE OUT HOW TO SEPARATE INFORMATION USED BY U.S. USERS OF TIKTOK USING ORACLE. WHATEVER YOU SAY, IT'S OWNED BY THE CHINESE COMPANY AND THE CHINESE COMMUNIST PARTY IS VERY INVOLVED IN THE COMPAIES FROM THERE. WHETHER ISSUES AROUND PROPAGANDA WHICH IS MORE SIGNIFICANT AND SURVEILLANCE OR THINGS LIKE THAT WHICH IS PROBABLY LESS SIGNIFICANT THERE SHOULD BE A CONCERN ABOUT THAT. I WROTE A COLUMN THREE YEARS AGO SAYING I LOVE TIKTOK, IT A GREAT PRODUCT. I USE IT ON A BURNER PHONE. I DON'T TRUST MOST GOVERNMENTS BUT I REALLY DON'T TRUST THEIRS. THAT SAID, THEY'RE SUPER INNOVATIVE AND DOING AMAZING THINGS. PEOPLE LOVE TO USE THEM. THERE HAS TO BE A WAY TO FIGURE OUT HOW TO MAYBE SEPARATE IT IN SOME FASHION. I'M NOT SURE WHAT WILL HAPPEN THERE BUT CERTAINLY NOT GOING TO -- ESPECIALLY BECAUSE U.S. TECH COMPANIES AREN'T ALLOWED IN CHINA. THEY'RE ALLOWED HERE. SO, YOU KNOW, THESE THINGS HAVE TO BE SORTED OUT BY GOVERNMENTS AND THAT'S WHERE IT'S REALLY GOING IS THAT THIS IS GOING TO BE SOMETHING SETTLED BY BETWEEN GOVERNMENTS AND WITH GOVERNMENT INTERVENTION AND AS IT SHOULD BE IN THIS CASE. >> THANKS SO MUCH FOR JOINING US. >> THANK YOU.