Transcripts For BLOOMBERG Bloomberg Technology 20240712

Has confidentially filed to go despite the pandemic bringing travel to a near standstill earlier this year. Meantime, it is another story sending shockwaves through Silicon Valley. Later this hour the former ceo all of pinterest, Francoise Brougher, will join me for a discussion after suing the company for gender discrimination. But dan ives joins me now. Obviously a big day for apple today. We knew what is coming, but what is the significance of this to trillion dollar milestone . Dan it is a monumental achievement for apple. And i think it just shows these skeptics that three or four years ago that thought growth was over in cupertino, it proved them wrong again. Especially them hitting it before apple and amazon and others. I still think more bullishness ahead. Is up the only way to go . We are still facing a lot of Economic Uncertainty the second half of the year. Consumers not necessarily going to have stimulus checks in their pocket for discretionary spending. What does that mean for iphone sales . Dan i think for apple itsfically, an dit and factored into iphone sales for the next 12 to 18 months. Backdrop we are seeing. I also think there is a new appreciation of investors in terms of the services business. 60 billion annual revenue. I think it is worth up to 700 billion. Iphone sales, 350 million iphones have not been upgraded in 3. 5 years. I believe we are going into a 5g super cycle. Stock is going to get rerated by the spring. Emily lets talk about the Public Markets right now. Airbnb just filing to go public. Earlier this year travel was at a complete standstill. It is still incredibly slow, although they are seeing some rebounding. Is now really the right time for airbnb to get out of the gate . Dan its an interesting time for them to obviously go down this route, especially with what you are seeing in the overall gig economy. Based on our estimates and about 30 k, we think of consumers will not get in a ridesharing or stay at airbnb until a vaccine is found. Strongat said, theres a appetite right now in the market for secular growth stories. This,s not just across but software and other areas. That has been feeding into it. You have seen an insatiable appetite. Many investors looking at airbnb. Emily the argument has been made that airbnb missed its window to go public and should have gone public perhaps last year, earlier this year before the pandemic. Not necessarily knowing what was to come, but there has been a trend of Silicon Valley companies waiting longer and longer to hit the public market. Do you think that they can recover from perhaps a miscalculation there . Theres always a doubleedged sword in terms of windows. Forecasting and better understanding some of the business trends, they make sure they do not trip on their shoelace the First Quarter out. When you look at airbnb, obviously this covid environment which looks at least over the next six to 12 months, it will continue to be significant headwinds for the overall industry. I think ultimately it comes down to an execution story. Its no different than what you are seeing when you look at uber and lyft. Also a little bit of a cautionary tale. Went public, lyft had, it is they still a herculean battle to regain credibility. Emily dan ives, thank you so much for calling in. Good to get your voice today on these two stories. Meantime, it is perhaps the most highprofile gender discrimination story in Silicon Valley. Former pinterest ceo Francoise Brougher sued the Company Last Week, claiming she was fired for speaking out about discrimination, paid less than her male peers, and left out of key decisions despite being the number two executive. Since then, pinterest has faced an employee walk out and calls for systemic change. Earlier today she joined me in an exclusive interview to share her story. I was the first pinterest coo, and looking forward to being a force of progress of a company that catered to women. 70 of the users are actually women. Very quickly that while i was given a seat at the , and ii had no power cannot use my talent drive pinterest forward. Talent to drive pinterest forward. And i think if it has happened to someone at my level, it has happened to many women across the organization. And i wanted to be able to add a voice to this conversation and explain a little bit my story. And i am hoping sharing my story starts a conversation about what the role of women, and even when they reach the peak level of a company, theres still gender discrimination. Emily i know you cannot speak about specific issues, but in a medium post you do not hold back. You describe a culture that is demoralizing, secretive, toxic. I would love to hear in your voice, how did you experience that culture . Tell us what happened to you. Francoise i was not invited to meetings. I was not involved in management decisions. I was not even on the roadshow, and i had experience being on the roadshow. Men that didny by not value my perspective. ,hen i tried to raise my voice instead of being applauded for strong leadership my was criticized for it. To conformexpected to gender stereotypes. Your description of ceo Ben Silvermans leadership is damning. Only men were invited to meetings where decisions were made. There were constant backstabbing, gossiping, even though you were the coo and number two. You said the only way you could get things done was by hiding things and saying what you really thought was dangerous. What was it about bens leadership that you feel was particularly problematic . I think it is the same group of people and not hearing a different voice at the table. A different voice comes forward, actually listen to them. It is important that people understand hiring women is not enough. Making the place where they can be candid and share their perspective is even more important than just hiring them. And i wanted to make this point, because even in 2020 its still happening. Emily a pinterest spokesperson said we are remaining committed to ensure pinterest is a place where all of our employees feel included and supported, which is why there is an independent review regarding our practices. We are reviewing the complaint filed. Our employees are incredible important to us, and we take all complaints brought to our attention seriously. Some of the other things you schedule wast your less favorable than colleagues, you are paid less than men, and get you drove the companys revenue from 500 million to over 1 billion. Ben fired you, you say, in a 10 minute video call, saying you were not collaborative. What was going through your head and your heart at that time . Francoise it was a shock. And clearly i did not see a problem. We were all trying to figure out how to recommunicate and enter with our workforce. Because we were months into the covid situation. So yes, it was a shock. I appreciate the statement of wanting to support women. Or any employee is will come forward. But really the Company Culture springs from what nobody says. They should look at the culture. Emily to be fair, this is a legal case. We do not know their side of the story yet. And you have worked that many companies. You have had thousands of people reporting to you and i am sure there were situations where you had to fire someone who was successful somewhere else maybe you did not think was successful with you, or simply was not working out. What is different you think in this case . Francoise i think it was very different from anything i experienced before in the Previous Companies i worked with. What i felt is that my gender was getting in the way of my performance at pinterest. The first part of my conversation with former pinterest coo, Francoise Brougher. Coming up, the second part of that discussion. The former coo of pinterest, talking to me about the treatment of women in the csuite, and whether jack dorsey was a better boss. She used to work at square. That is next. This is bloomberg. Bloomberg. Emily the bid for the u. S. Operations of tiktok has gotten the backing up President Trump, bolstering the Software Makers attempt to take over tiktok. We are joined by sarah frier. The president did not specifically say oracle would be better than microsoft at owning the tiktok app, but certainly endorsed oracle. What exactly did he say . Sarah he said that oracle is run by a great guy who would be great to tiktok, a good buyer for them. He did not specifically say he prefers oracle over microsoft, thehe definitely nodded in direction of larry ellison, who of course is one of the only open supporters in Tech Leadership of President Trump. Has been pretty vocal about his support with his money, too. I think that trump is sending a very strong signal that he if hes that outcome even did not say it directly. Emily obviously we know that oracle and larry ellison, a big fundraiser for the president. Held a fundraiser for him back in february. What does this actually mean for the talks with microsoft . How much of a wrench is this in the process . Hash listen, this process always been a political process. It is very unusual. When i heard about oracle atepping in for this bid, first i thought there is no logic to this. Then i thought, well, the logic is the trump relationship. I think we are going to see a lot of that. S is trump trying to get maybe this convinces microsoft to sweeten their deal. If he mentions in his comments that he is expecting to see a big payout for the treasury as a result of this deal, so maybe they are aiming to get more money, whether its oracle or microsoft or whoever comes to the fore. Or the u. S. Government as a result of this deal. And of course none of this would be happening if trump did not put out an executive order saying he needs tiktok shut down within a few weeks, or sold to a u. S. Company. With how are the talks microsoft going so far . Sarah so far what we have heard from our sources that the talks with micah soft and oracle are the front runners. There have been a lot of suitors knocking on the door for to talk, for tiktok, and those are the two that are the most serious. It looks like there is not an official statement from oracle yet on their interests. Microsoft remains the only bidder we have heard of officially for tiktok. For both companies it will be something of a data play. Ofked tiktok has a lot insight into u. S. Users. That is why the u. S. Is concerned about its prominence. It also presents an opportunity for these cloud Data Companies to come in and do something with that data, run analytics, gather more intel on trends and customers. A i think that we see kind of similar outcome for both of those big established tech companies. Emily all right. Sarah frier reporting on tiktok, thank you so much for joining us. We will be right back with more of Bloomberg Technology after this quick break. Emily we are now just two months away from voters having a say on President Trumps leadership. As the Democratic National Convention Continues remotely. I spoke with steve case, the cofounder of aol. Got his take on the largely virtual upcoming election and what we can expect leading up to november. 1985, America Online in only 3 of people were online and they were online just one hour a week. Now we have moved into a world where our economy is largely online. Media and communications are operating online. The elections are being fought largely online. It has been amazing to watch and we will see what happens in the next couple months. I do think it is important election. Tech policy needs to be front and center. Start up policy needs to be front and center. We need to shift the focus from looking at the Rearview Mirror at businesses that already exist and look forward to understand what the new opportunities are and make sure we are backing them in a much more inclusive kind of way. We will see what happens with the conventions this week with the democrats and next week with republicans. Largely virtual conventions. It will be interesting to see what happens in an environment where historically, there has been a lot of doortodoor canvassing. Obviously that is less likely to happen. This election will definitely be fought more on the internet. It has been amazing to watch that transition. Emily on that note, senator harris has won three elections in california. She is closer to Silicon Valley, being from this part of the country. What do you think her selection means for potential tech policy . You and i had talked about the antitrust scrutiny on big companies. What are the big tech companies. What are the implications for her selection for the tech company . Steve it is helpful with her base in california. She understands the tech issues across the whole gamut. All the different issues, she can bring that perspective, and i think connecting that with Vice President biden, given his roots in scranton, also understands the challenges people are facing in different parts of the country. And really will continue to be a real antidote for these rising cities, doing more interesting things in more interesting places. Its an interesting combination and she brings an interesting perspective from california that is helpful. But the conversation needs to be less about what is happening in Silicon Valley and more about what is happening in the rest of the country. Hopefully that will happen and hopefully more cities will rise, and more of the fortune 500 companies of tomorrow will launch in cities all over the country, not just a couple along the coast. Emily as you look ahead, do you see a vaccine or some kind of Silver Bullet treatment as the only way out of this . And how do you plan for the next notonths, to 18 months, knowing if we are going to have that . Steve sounds like the momentum around a vaccine has been remarkable. Its certainly going to be something much faster than the previous record. It was four years. It will clearly happen soon. That is the first step. The second step is how do you distribute the vaccine and get people to take it . That will take time. Theres a big Antivaccine Movement in this country. And the challenge to get hundreds of millions of people vaccinated even if everybody wanted to. That will be a big focus next year not just in terms of having a vaccine, but broadly distributing it. It will take some time before we get back to normal. But as i said before, hopefully we will do better than normal and and up with an economy even stronger. Clearly there will be challenges. Stepsmes it will be two forward and one step back. We all have to take a long view of this and making sure we are making decisions to do with the immediate crises of the moment, in which many countries are facing many of them. But when we come out of this, how do we end up stronger than when we started. Its an important election. I try to stay out of politics and work in a bipartisan way get things done, including the jobs act which was passed with bipartisan support about eight years ago. But i think this is a critical election. Clearly there are a lot of things happening in our country and around the world. Case, the ceo of revolution. Breaking news to tell you about. Intel shares spiking after hours after announcing a 10 billion buyback. This is part of a planned 20 billion in share repurchases. So not unexpected, but intel shares still up. Coming up, the second part of my conversation with Francoise Brougher, the former coo of pinterest, about the treatment of women in the csuite, and whether she thinks jack dorsey was a better boss. She also worked at square, but last week suit pinterest for sued pinterest for gender discrimination. That is next. This is bloomberg. Is bloomberg. Emily welcome back to Bloomberg Technology. I am emily chang in san francisco. It is rare to hear women in the csuite go public about negative experiences at the top, because the extra they feel the extra burden of needing to protect the company. That is why Francoise Broughers lawsuit has shaken Silicon Valley. The former pinterest coo sued the Company Last Week for gender discrimination. In the second part of our conversation, we talked about what we do not hear more women in her position share their story. Take a listen. It is different. It is not like, hey, get me a coffee. I did not have this conversation. It is much more insidious at the executive level. The way women are pushed out by men is different. The glassbout ceiling. I thought i broke it, im a role model. Level it is ain monkey on your back. You every stepes you try to lead. Especially there is a false sense of women at this level are vulnerable are invulnerable because of the power. But i am an example of this is not true. Emily this is the same with the Democratic Party is trying to position itself as the best place for women working or otherwise. Were coming into a critical election, and your story is now more important than ever. How much of an influence did the political environment and President Trump being in the white house have on your decision to come forward . Francoise of course i have my personal convictions, and of course i want more women in power, whether it is in the political system or in companies. Actually, women are able to take action, i encourage this acrosstheboard, but this has nothing to do with mr. Trump. Emily the irony is 70 of pinterest users are women. Do you think if pinterest had more women at the table and decisionmaking roles that the product would be better, that they would be making more money . Francoise i think it could be better. It could be more inclusive. I know pinterest is working on that. It is not just pinterest. Every company, theres as Much Research as you can find. When you have a more inclusive and Diverse Workforce and you can hear all the different voices, the outcome is always better. Emily you worked at google for many years and were also on jack dorseys executive team at square. Jack had a lot of women reporting to him at that time. Was jack a different leader than ben, and how so . Francoise i am very glad you asked this. Incrediblyrsey is fond of women in the csuite. My gender was never in question. In fact, i actually think one of his superpowers is his ability to extract the idea from the messenger, and that is very powerful. Emily ellen powell did not settle her case. They went all the way to trial. Me it was very painful for her. Kleiner ultimately won that case. Are you open to settling, or do you want to, and plan to take this all the way, knowing how hard it will be . Francoise i know how hard it will be and i know how hard it was for her to come forward. There are two parties in the decision. I am very confident. Emily i spent over two years speaking to women, writing a about thed brotopia experience of women in Silicon Valley. At that point it was a pinterest employee who really put the pressure on the industry to release their numbers. Even though she was doing that personally, it sort of put a halo around pinterest. Now you have employees staging a virtual walkout, protesting systemic discrimination. You say discrimination there is rampant. Who else is this affecting . Francoise i think it is affecting the people at pinterest first. Employees. Orking [indiscernible] they want things changed. I think that is important. Emily there are two black women who recently went public about negative experiences and claims of racial discrimination, including unfair pay, retaliation. How big a problem do you think racial discriminate is in particular at the company . Francoise first, i want to organize with both of them. They were the first ones who came forward. They gave me the courage also to tell my story. And i have no reason not to think that what they mention, we are Different Levels and i am actually not africanamerican, but what they experienced was not, from what i can read, was racial this commission. Racial discrimination. Emily you say in your medium post that, at times, you felt yourself, you were complicit, that you did not speak up enough for others, and you apologized for that. I found that really intriguing. How do you think you could have done better . And is there a lesson in that for other women who might be feeling the same thing in a position or power of power . Francoise i know. That is what is interesting as well. You are in a position of power, you think, ok, i made it, you should be able to make it. Sometimes, ok, let me try to help you or find a new way. But it was not enough. I realize this now. Emily pinterest did Just Announced their first black board member, a black woman, president of the Real Estate Company skywalker holdings. Do you think that will change things . Francoise i am glad they have done this. I think it is good. My question for pinterest is, is in power to be implement the ideas she has and the action . Emily you have a lot of recommendations about what companies and people can do differently. If you can say one thing to ceos and boards about what they can do to make sure this doesnt happen in their workplace, what would it be . Rancoise just not hire ive never seen a case of a woman who was over promoted. Emily what is next for you . Will we see you in the csuite again . Francoise right now i am very focused on this issue. I really want to add my voice to many women, that they get a seat at the table and feel empowered to actually make decisions and change things. So that is my focus. Where i will be, i do not know yet. Emily former pinterest coo Francoise Brougher there. President trump has frequently criticized the Pricing Agreement between amazon and the u. S. Postal service, saying it is due to the losses that the Postal Service takes on package deliveries. But others say amazon is lucrative. Breaking it down, ben brody with bloomberg news. Thank you so much for joining us. Trump says amazon is the post offices biggest problem. Is that true . Ben no. Its not. The biggest problem for the post office is we spend all day emailing each other and calling it other on our phones. Extensivehave pretty obligations for employee retirement, for funding employee pensions and health care and things like that under the law. That is really the problem that they are facing. In general, packages are competitive, and they have to cover the cost. And actually that is under the law. So that service is doing fine. Then abouttalk to us how you see this playing out. Obviously the president has now made this a campaign issue. There have been issues with the post office removing letterboxes, which is quite routine, but also potentially has a dramatic impact on the ability for people to mail in their ballots. Ben absolutely. I think that this has appeared to a flood of democrats to be flagrantly political. Trump is attempting to use the post office and his post master general, who has laid out some of these cutbacks, to basically stop democratic votes for joe biden from being counted in november, which is why he is pushing back and saying no, i am trying to fix things, amazon is the real problem. He loves to blame amazon and jeff bezos. You had the postmaster general yesterday say he would walk back some of the service cuts, and basically put it off until after the election so it would not be in doubt. He is going to be in washington, or at least testifying remotely on the issue. We will see how much farther congress can push it. Emily talk to us about the financial situation of the post office. Is the usps failing . Absolutely using billions every year. Theres no question about that. Liberals would argue that that is what it government what a Government Agency does. We do not say that the military loses money, it spends it. Theres an important distinctions we have to make. Stamps did not cover costs, which is reasons why you have billions of dollars in losses. The government granted a monopoly, and they basically do not charge enough. Packages are different. We have fedex, we have ups. And by law, the Postal Service has to cover its costs. It has to charge competitive rates. That is a lot of pushback you get when you go to the Postal Service or amazon and ask them about contracts. The details are confidential but they will point out that we cannot lose money because it would be illegal. An issue that resonates with voters . A horse he has been beating for some time now. Ben absolutely. I think it clearly resonates with trump. Hes had a a lot of different iterations of attacks against f bezos. He has had the Postal Service, he has had the washington post, which of course jeff bezos also owns. He has had the cloud contract. He has softened a little with antitrust. So it clearly resonates with trump. The question of whether it resonates with voters, the Postal Service is actually pretty popular. Particularly in rural areas and among older voters. They see that as a lifeline. They may not be as come to but with email, or the post office might be the only service that can get to them reliably. So it is incredibly popular. It is not potentially politically advantageous for trump to be poking at them. Emily ben brody there. Thank you so much for that update. Certainly a conversation we will continue to follow. Coming up, with the world desperate to find a covid19 vaccine, hackers lock down several servers used by researchers at the university of california san francisco, and wanted a 3 million ransom in return for the key. Details on the negotiations, next. This is bloomberg. Is is bloomberg. Universities, hospitals and labs become highvalue targets for hackers during covid19, given their access to data on potential new treatment or vaccine. A group of hackers with a history of targeting Health Care Organizations executed a successful Ransomware Attack on the university of california san francisco. Theirripts reveal weeklong negotiation to free its servers. Here with the story, bloombergs cybersecurity reporter kartikay marotta. Tell us more about what is happening here. Kartikay university of california san francisco, which is a heralded medical school and they wereospital, researching hydroxychloroquine marroquin merits. We were looking at Contact Tracing tools. As they were doing this research in that first week of june, a gang of russian or Eastern European cyber attackers locked up seven servers in the department of epidemiology and biostatistics. What followed was a weeklong ,egotiation between the group who managed what was basically like a Customer Service portal, and the universitys thirdparty negotiator, who were working to find a solution to unlock the servers, which included this very critical data. It was a very fascinating exchange, largely because you had these two dueling ideological parties. You had this very sophisticated university armed with lawyers and consultants, cybersecurity experts, sort of beholden to these hackers. They were the ones with the power. Thisat transpired was backandforth over who really was in control, and how to get out of the situation with both parties happy. Exactly did they actually steal . Unclear, so, its because we did not actually get to click through the files, but includednames references to Covid Research and the cdc. They also had files relating to faculty and professors in the department of epidemiology and ill of statistics. Statistics. Io it was data important enough for ucsf to engage with these criminals. What was most interesting was that in a typical kidnapping where we are talking about actual people in a hostage crisis, you rarely think that the criminals have a leverage and that they are going to get away with it. But in the realm of a cyberattack, its the complete opposite. These hackers are behind vpn protections, far away from federal investigators in the u. S. , and are more than likely going to get away with whatever it is that they are doing. And so, the victims here really have to play ball, and legitimize this Business Model of theirs and say, look, we know you are credible attackers, we have read about you on the internet, you are really smart. We want to work with the, we know you mean us no harm. They treated them like they were business partners. So over the course of a week, it was a this pandering to them, and the operator, as he or she was so dubbed on the attacker side, was almost like a used car salesman, coming back with offers, going back to his boss to see if this was legitimate, and often just needing that reassurance that he or she was legitimate, and that he was going to get paid. Emily talk to us about the broader Threat Landscape here, because the doj has charged chinese hackers with trying to hack similar kinds of information. Countries behind hack attacks on covid19 research as well. Kartikay western intelligence broadly is focused on this very real problem. That is, of chinese, russian, korean, iranian hackers looking for i. P. Or intel on what the u. K. , nhs, or what American Research entities are doing to find a cure. How far along are they compared to their own research institutes, and are they close to finding something that is worthy of things stolen and possibly sold on the dark web . Which would make a lot of money. Or simply to bolster their own research . Since the u. S. Really was infected in late february, early march, the uptick in these kinds of attacks on these kind of institutions that are doing research, including major pharmaceutical companies, biotech firms, and places like ucsf, has skyrocketed. That has been a major boon to net lokcers. They are making money like they have never before in the past. This is truly provided an opportunity for them. A question theres here of why should this necessarily be privileged information . Thet we want everyone in world to have access to a vaccine . Kartikay absolutely. But i think during research, there, are not quite entities explore a lot of possible options that did not necessarily need to be distributed widely. Ucsf was exploring the merits of hydroxychloroquine, which this competing research has said that that is actually dangerous, or not healthy to consume if you are suffering from the coronavirus. So i think most, ucsf particularly, do issue statements about the progress they are making on their vaccine, but hacking into their data set to understand how far along they are and exposing personal data is a realm that stretches well beyond transparency and public knowledge. We are standing by now for the president to take the podium at the white house in one of his daily news briefings. It was supposed to start at the top of the hour. Now we are at the top of the next hour, but we just got the two minute warning. The president could potentially be out any minute. Sometimes it is much longer than two minutes. Obviously this is something that the president has taken a hard line on. Talk to us about the political implications here of vaccine development, given that on the one hand, you have so many scientists from all Different Countries around the world collaborating more than they ever have before to get a vaccine quickly, and you also have countries working against each other. Kartikay absolutely. This is part of a broader geopolitical battle between the u. S. , and especially china. We have seen this indictment in the last couple of weeks where individuals from china were named and have been charged with the theft of proprietary data. This is not just about the vaccine. Its about control over who benefits from it, and who gets to control its distribution. This is very much part of an intelligence war and the trade war. Maybe was just a case of opportunity where a hacker got in and happened to be able to make money off of Covid Research. Emily ok, the president has come out and we are going to listen in. Pres. Trump before i provide an update on our continued progress against the china virus, i would like to discussion our latest i would like to discuss our latest actions against the iranian regime. Today, i am erecting secretary of state mike pompeo to notify the Un Security Council that the u. S. Intends to restore virtually all of the previously disbanded United Nations sanctions on iran. The snapback. Not uncommon. Withdrew the, i United States from the disastrous iran nuclear deal, which was a product of the obama biden Foreign Policy failure. A failure like few people have seen in terms of the amount of money we had paid for absolutely nothing in a shortterm deal. This deal funneled tens of billions of dollars to iran. 150 billion to be exact, plus 1. 8 billion in cash, which i do not know the authority the president had the authority to give. 1. 8 billin in cash. Another great deal that turned out to be another disaster. Would have funded all the chaos and bloodshed and terror in the region and all throughout the world. And i will not say anything, because i do not like saying it, but iran does not have so much money to give to the world anymore. Al qaeda, various other people they were funding. They have to keep their own regime together, and it is not easy for them. And if and when i win the election, within the first month, iran will come to us and they will be asking for a deal so quickly, because they are doing so poorly. But that deal was a disaster. Cash. Illion in and we got nothing except a shortterm little deal. Starting to expire already. Its terminated, but it would have if we did not terminate it, start to expire very shortly. A good deal was the deal we made with uae and israel. By the way, other countries want to come into that deal. Countries he would not even believe want to come into that deal. All of a sudden youre going to have peace in the middle east. And you would not have done it with this ridiculous iran nuclear deal, as they call it, that president obama made along with sleepy joe budden. I imposed the toughest ever sanctions on iran. And this has brought us great difficulty for them. Giving money to terrorist organizations. If they do they will have hell tpo pay. Earlier this year i ordered the strike that took out the worlds number one terrorist. In addition to previously terminating leader and founder of isis. A boom of car albaghdadi. The two leading terrorists. By far in the world. The founder of isis. Nobody even talks about that. We also defeated we now have 100 of the isis caliphate in syria. When i took over, it was a total mess. They were all over the place. My administration will not allow this iran Nuclear Situation to go on. They will never have a nuclear weapon. Iran will never have mark it down, mark it down. Iran will never have a nuclear weapon. When the United States entered into the iran deal, it was clear that the United States would always have the right to restore the length sanctions that will prevent iran from developing a nuclear weapon. We paid a fortune for a failed concept and a failed policy. A policy that would have made it impossible to have peace in the middle east. Here at home, through operation legend, we are confronting the wave of crime in democratrun american cities. Its absolutely shocking. When you look at portland or new york, san francisco, seattle, chicago, sometimes los angeles. Democratrun cities, they are a mess, because they dont get it. Are there they do not get it, or theres something that nobody else understands. We have deployed more than 1000 additional federal agents to help these democratrun disasters. We have done this. We have to give them a hand. And we can stop it immediately, like in portland. It would be so easy to stop, we would stop it immediately. We only sent in some homeland people, who were great, by the way, to save the courthouse because it would have been blown up or burned down. They did that very easily. But if we were called upon, we would send in, whether it is homeland, whether it is fbi, whether it is just law enforcement, and we would send them in quickly. We would eradicate it, just like what happened in minneapolis. They should have been called in a lot sooner. You would have had far less damage. Today, we announced that operation legend has successfully resulted in nearly 1500 arrests already. Bad ones. Really bad people. Prosecutions and prison sentences will follow, and they will be a very long time in prison for what they have done to these cities. Most cities are wellrun. Most of the nation is wellrun. Pres. Trump we have made arrests in many cities. Including gun crimes, arson, and 91 murders. We are using the full power of the federal government to defeat, as you know, the china fires. New cases have declined in 80 china