Sandberg response to the controversy in facebook two years of bad news. First, the top story, slack makes its public debut but not by the usual path. Slack makes its public debut the at a direct listing on the new york stock exchange, opening 48 above its reference price. Valuing the software messenger at more than 20 billion, a big increase from the last private valuation. They raised money at a 7. 1 billion dollar valuation. I caught up with slack right before shares began trading. At this point it has been working exactly the way it is supposed to work and ultimately, we will open and have a high and low. The same thing will happen tomorrow and we are very much focused on the longterm. Emily you are still paying large fees to bankers. You raise a lot of money. So what problem are you really solving by doing a direct listing versus a traditional ipo . The first is there is no need to raise primary capital. We came into the process with 300 million on the balance sheet. Dilution to ex
Flax makes its public debut. Itses opening above reference price, valuing the software messenger add more than 20 million. Icon up with the cfo. At this point it has been working exactly the way it is supposed to work. We are very much focused on you are still paying large fees to bankers and you still the public on market. What problem are you solving . The first one is, no need to raise primary capital. A little bit more freedom in how we tell the story. Instead of only having a roadshow, we were able to do an investor day, livestream it and make the video available to everyone. Emily black is still profitable. Our primary focus is to invest in growth. This is the drive toward the national breakeven. We can still invest very aggressively. Emily how much of a priority is profitability . I dont want to get technical but there are a lot of deferred revenues. In outside investors is great because it allows us to control our own destiny. We try to find new ways to continue to invest. We d
Committee. In the heat of the 2016 election, as the russian hacking and dumping operation became apparent, my predominant concern was that the russians would begin dumping forged documents along with the real ones that pistol. It would have been all too easy seed forgedto documents among the authentic ones in a way that would make it almost impossible to identify. Even if a victim could ultimately expose the forgery for what it was, the damage would be done. Three years later, we are on the cusp of a technological revolution that could enable even more sinister forms of deception and this information by malign actors, foreign or domestic. And machineai learning have led to the emergence of advanced, digitally doctored types of media, enableed deepfakes that malicious actors to film and disrupt entire campaigns including that for the presidency. Artificialess in intelligence algorithms has made it possible to manipulate media, video imagery, audio, text, with incredible, nearly impercep
Larry . And weighing in on the cryptocurrency. First, to our topsoil. A direct listing on thursday. Yet waiting to see what the Reference Price will be. The they find themselves in beyond meat camp with a sizzling debut or will it be more like a sizzle like uber and lyft . Product growth. It grew from half a million almost 6 million. New column out. Lets start with you. , youformer head of growth have a beloved product, but Revenue Growth is slowing down. Cannot be we accelerated . Accelerated . E slacker is really coming into the workforce. Emily you think that it could start to grow faster than it has . I cannot make predictions on how they will do, but i am excited about mistakes. Anywhere have heard from 16 to 20 billion. How does that compare . These young and fastgrowing companies are beating at what seems to historically rich valuation compared to their revenue. You mentioned the column that i wrote about this new stratosphere of multiples of revenue. Think we have seen it befor
[captioning made possible by the national captioning institute, inc. , in cooperation with the United States house of representatives. Any use of the closedcaptioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u. S. House of representatives. ] the chair on this vote the yeas are 311, the nays are 110. The amendment is adopted. The Unfinished Business is the request for a recorded vote on amendment number 67 printed in 116109 house report offered by the gentlewoman from california, ms. Porter, on which further proceedings were postponed and on which the ayes prevailed by voice vote. The clerk will redesignate the amendment. The clerk amendment number 67 printed in part b of house report 116109 offered by ms. Porter of california. The chair a recorded vote has been requested. Those in support of the request for a recorded vote will rise and be counted. A sufficient number having arisen, a recorded vote is ordered. Members will rec