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reimbursed carmakers for recalls beard a special prosecutor may indict samsung's ceo today. this was part of a scandal that led to the impeachment of the korean president. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. you are watching bloomberg. let's get a check of the market. the regional bench are rebounding from losses. the hunting index is flat. this is bloomberg. ♪ ♪ cory: i am cory johnson and this is "bloomberg technology." coming up, the snap ipo roadshow makes its final stop. validateplan to investments. plus, warren buffett takes a bigger bite. he has purchased more than 100 million shares of apple. and spacex shoots for the moon. elon musk says to unnamed citizens have put money down for a lunar mission. as wall street prepares for the first tech ipo of the year, snapchat's management team makes its final roadshow in san francisco. executives are pitching the company to investors. the progress of snapchat's business is slowing. it has 178 million users but the pace of user growth has slowed to 3% sequentially. joining us now, sarah frier. this user growth issue to me is one of the biggest issues with this company. when you look at the sequential user growth, it has really fallen down. sarah: it has been a top question for snap executives at the roadshow. and in new york, a lot of people we talked to who went to the roadshow expressed skepticism. their answer to the user growth issue was it was due to some issue with their android product. but potential investors are worried maybe this is because instagram copied snap's product in august. cory: story. exactly when that happened is when their user growth started tanking. sarah: that is what people are worried about. snap said they see instagram is a different case. that did not seem to calm fears about growth. that was at the roadshow in new york. cory: they were in san francisco today trying to pitch that story to investors. it is a lot of stock they are trying to sell. sarah: it is a lot of stock but there is plenty of demand. this is the first big tech ipo in a long while. the last big one was twitter. these are companies that people wait a long time to get into. if it is a facebook situation, even if it has a rough first year, it could be a good opportunity over the long-term. if it is a twitter situation -- cory: it is hard to imagine what the negative growth margins, there's a great deal to be had. i started building a model of the company this weekend. the cost of goods, the money spent historically. i put together a chart to show this. the cost of serving each user. it is not that complicated. the cost of goods sold compared to have the users they get. over time, you see the opposite of what you want. they are spending more on every user every quarter instead of less. since they don't own their own servers and rely on google, that seems to be an issue for them. sarah: it is definitely an issue in the minds of investors. snap presented they have a different cost structure that we are not as used to. they are not in the business of building servers. that is their response to that. the question is, are they going to be able to increase the amount of money they make? are they going to be able to scale the advertising business to the point where it becomes a profitable business? cory: what is the timing of this deal? sarah: we are expecting it to price on wednesday and lift on thursday. cory: price wednesday, trade on thursday. there should be excitement. i am sure you are all geared up to cover it. we will have you come back on. great stuff. sarah frier from bloomberg news, thank you very much. another story, berkshire hathaway, the annual letter was a great thrill. the company doubled its stake in apple. chairman warren buffett says it now owns 133 million shares. some more bought -- katherine chiglinsky joins us now. is this warren buffett or other money managers under the umbrella? buffett went on cnbc earlier today to talk about the investment in apple. he more than doubled his stake in the technology company, which is a lot more than we learned at the end of december. he mentioned while he manages the bulk of the investment, it is one of his deputies that picks the other bit. that is treating because buffett himself is adverse to technology stocks. he showed his flip phone on tv today. he is not that into technology. it shows the growing influence of time comes and ted weschler, his two investment deputies. he did not clarify which one it was, but it is an interesting sign that he is willing to plow into the company. cory: it is interesting to me because when you look at the investments, one thing i noticed in the letter, one of the things i noticed was of all of the stocks they listed, the only loser in all of his holdings is ibm, a company he has lost money on and has been invested in for many years. three or four years. there was no commentary in the rest of the letter about that holding. >> he has taken some heat for being so bullish on ibm for a while. that stock has done much better. it rallied the past year, especially since the election. he started to exceed the cost of purchasing that stock. while he definitely took some heat when it was not doing well, sticking with it proved ok. it is interesting that now he is like, ibm was good and apple might be even better. cory: it is interesting we have seen so many tech leaders over the years, the google founders in particular, who seem to have a great love of berkshire hathaway and understand that business regardless of its lack of overt technology. if you look at the railroad, if you look at so many of the candies, even see's all of these companies are being transformed by technology. surely buffett knows he is spending money to make these companies better through technology. >> definitely. you cannot avoid that conversation forever. he mentioned on cnbc today his vice-chairman questioned some of his bets a little bit. he said i cannot avoid things forever. things are changing. that does happen. i think that is what he is saying with some of these different bets, with apple, with airlines. they had a bad first century but they are doing better now. i think he is willing to change his mind. cory: airlines is one he has always hated and regretted. bloomberg news reporter katherine chiglinsky, thank you very much. up, the chief executive opens up about president trump's expected tax overhaul and gives us a look at how complicated taxes can be for businesses in technology. this is bloomberg. ♪ cory: softbank is said to be working on a merger with a satellite company. softbank invested $1 billion in one web in according to a person december familiar with the matter. talks could still fall apart as other options. the transaction could be valued at $18 billion if successful. it reports results on wednesday. -- tuesday. donald trump is planning and overhaul of taxes. when it comes to the multibillion videogame business, it is not easy. the changes in tax policy could have unintended consequences. make -- strauss zellnick has been a lot of time working on this. >> i think the biggest opportunity on tax policy is the repatriation of cash trapped overseas. to be clear, that is not a take to issue. 90% of our cash is domestic. it is a broader issue for our economy. cory: we have had the tax repatriation holidays. in the past, that has gone to stock buybacks and special dividends. one can argue it trickles down to the economy. one can also argue it does not. but it has not going to r&d and hiring and spending. >> this administration has talked about job creation. i think it is the primary goal of the administration. it seems you could tie favorable treatment to repatriated tracked -- repatriating trapped cash to whether that is invested in the economy as opposed to buybacks or used to pay dividends. you could tie them in the same way exchanges in the real estate business have obligations and timing restrictions to generate tax benefits. cory: as it relates to the gaming industry, the border tax rules are interesting. the way you develop software, you may develop some in canada, a lot in the u.s. some of the same software in the u.k. how do you tax what is made in canada versus what is made in the u.s.? it is all lumped into one game. >> it is possible to do it. the question is, is it something that benefits our economy? generally speaking, erecting trade barriers is not something that generates value in our worldwide, utterly matrix-engaged system. our industry is especially interested in low or no barriers to trade because we are an exporter. we are one of america's largest exports, entertainment in general. i think we are the second largest export after aerospace. speaking from our own industry point of view, having as few barriers to free trade as possible benefits our industry and certainly benefits our country. from our point of view, we want people working at their highest and best opportunities. that means america is a knowledge economy, a trained economy. we like the fact we have worldwide engagement and can put jobs where they belong. we are a big domestic employer , of course. cory: as the products are more digital, in your case it is games but you can play that out to entertainment, movies and so on. as they are increasingly digital, what you are selling is bits and bites and lines of code. where it is written may determine if it is made in america or not and how the tax policy works. it has to be confusing for congress and the white house to figure out what that means. >> it is doable because there are certain rebates triggered in foreign just turned -- jurisdictions and there are rules around what constitutes local work. i have no doubt one could make rules and make those work. the question is, would it enhance or detract from productivity, achievement, and the overall macro economy? i am suspicious we can be so smart in centrally planning trade restrictions that it is a net positive. generally speaking, free trade is a net positive. cory: it also seems that valuation placed on the i.p. versus the actual creation of the code is a balancing act. if the ip is owned by a u.s. company but the code is written in ireland, where is the work and how will it be taxed when exported? >> all the questions. cory: how do you help congress figure that out? >> we encourage congress not to erect trade barriers. i think that is the focus we have. i think at the end of the day, because the sitting legislature is republican dominated and typically republicans are believers in free trade, that ultimately there will be negotiation with our president. i think we will end up probably in the right place. cory: where is your development for take two? >> most of it is in the u.s. and some of it is around the world. we have people in california, massachusetts, baltimore, canada. we just acquired a company in spain. we have a bunch of people in the u.k., some czech republic and china. --y: a lot of cross sporting cross-border development. these are interesting challenges. >> absolutely. cory: it is possible in a way you could not have done before with teams working round-the-clock. >> around-the-clock. everything is connected electronically. in don't need to be sitting next to someone to work collaboratively with them. cory: that will increase in the future. >> unquestionably. we should avail ourselves of expertise where we find it. if we are smart in america about increasing our engineering talent, which is a big issue here, through improving our educational system and focusing on engineering, those are very high-paying jobs and we and all of our competitors are hiring hand over fist. we all have open positions. cory: taxes. we are talking about taxes. that was strauss zelnick. on tuesday, we will have special coverage of president trump's address to a joint session of congress. that begins at 9:00 in new york and 6:00 on the west coast. coming up, we will take you to tech's biggest showcase. a conversation with samsung's european vice president of mobile and how they plan to bounce back after the note 7 saga blew up. because they actually blew up. our interactive tv function is right here. you can type in tv go and watch us live. you can see old interviews. look at bloomberg functions and become part of the conversation by sending me a message during the show. feel free to interrupt me as much as you can stand it. free for bloomberg subscribers only. this is bloomberg. ♪ cory: everyone who is anyone in mobile is at the mobile congress in barcelona right now. what you will not find in barcelona this year, a flagship smartphone from samsung, the largest maker of phones. caroline hyde spoke to the v.p. of the european mobile division. >> we have been through a big challenge with the note 7, one of the biggest challenges in our history. we took a lot of learning, and we want to demonstrate today that quality is part of our mission. i think we want to thank all of the customers that stayed with us and even embraced more the galaxy s 7 in the past few months. that demonstrates we are still well tuned with our customer base. we owe them more innovation and more quality the future. that is what we are showing today. caroline: will you refurbish the note 7? many loved it. many seem to be taking it back. will it be going back on the market? >> i cannot commit on that. i think we are trying to find of thet way to dispose products in the most responsible way. we are working with authorities and our partners to find the most responsible. caroline: samsung has been known to drive innovation, sometimes putting out pieces of equipment maybe early in the lifecycle before they have been practiced. do you agree? do you think you always wait until it is at the best possible moment and then release? >> i think sometimes we are early. sometimes we are ahead to drive the market. one of our responsibilities as one of the biggest dealers in the industry is to drive it forward. we demonstrated this when we vr last the are -- year, actually a couple of years ago, with the big event last year to bring it to the next level. yesterday, we also announced in the vr, the new controller which will bring a new dimension to the vr experience. i think we like to say we are early in the technology and we are bringing new technology and democratizing them to a wider audience. caroline: ar is very hot. vr is very hot. a.i. is very hot. is a.i. coming? what can we get excited about? >> i wish i could elaborate. there are many things in the labs in the moment. we have acquired companies in different areas. we leverage technology the best we can. a have acquired harmon cardin few months ago. we are now announcing we will tune speakers on the new tablets kg, one of the- a most famous brands in the sound industry. we definitely will use all of our technology. caroline: the galaxy 8, will it sell more in terms of quantity? >> we are always confident in our products. that is why we make them so attractive and sell them to as many people as possible. i think the best seven -- s7 demonstrates that innovation is relentless. we launched with the tablets yesterday. some of the features introduced another manifestation of how innovative we can be. we created it with the first note several years ago. now it is indifferent devices, -- in the different devices, in the tablets as well to give more experience to our users across our portfolio. caroline: when you don't launch a phone here, everyone starts to look at who is. we have been shining light on elegy, on lenovo. another wants to eat away at yours and apple's market share. does it worry you and they are coming out with new phones when you did not? >> we always recognize there is competition in the market. i think it is good for the market. it is good for us as well because it pushes us to bring more innovation. to differentiate. it is not just about launching a new product, but serving customers with experiences. one of the strengths of samsung as a big company is we can deliver not only a true smartphone but a full portfolio because one size does not fit all. cory: that was samsung's vice president of the european mobile division. coming up, we check in with the godfather of net neutrality, tom wheeler. his view of the future of internet regulation as some of his rules are being undone by his successor. that is next. elon musk aims for the moon with the surprise announcement he has significant deposits for a space tourist mission around the moon. we will check with our spacex reporter later this hour. this is bloomberg. ♪ >> it is 1:30 p.m. in hong kong. has completedp his economic team in the senate. he is confirmed wilbur ross as commerce secretary. he becomes the richest member of the trumpet cabinet with bloomberg estimating his work at almost $3 billion. the president has said ross will lead the u.s. in trade negotiations. japan's industrial production off for the first time in six months in january, raising questions about the growth seen in the second half of last year. it dropped 8/10 of 1% from a month earlier despite a forecast for a rise of 4/10. showed rising in february but falling in march. -- dropped its objections to a billion dollar plus payment to a partner. both companies have informed the delhi high court they have agreed to settle. they wanted to sell their stake in their indian wireless venture appeared we go like to sold, where prosecutors are expected to indict in executive in connection with the undue influence scandal. the indictments are likely to include vice-chairman jay y. lee, and samsung denies paying for political support. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. you are watching bloomberg. let's get a check on how markets are trading in the asia-pacific. things are looking a lot better than they were yesterday. the regional index supported things to the veins on that nikkei. equities snapping that three-day losing streak. it was a weak session in australia. the market closing down 2/10 of 1%. he's a shares rise in the most on record, almost 32%. group. in a dubai-based we are seeing shanghai up by about 2/10 of 1%. depth comingof a through in the hang seng inset -- index. as we round out february, we are listed innese stock hong kong continuing that rally. they have been up by about five point 5.4%, the best month we've seen since august of last year. looking at japanese bonds because we are getting an update from the boj, not much movement there. we are live from london at the top of the hour. this is bloomberg. ♪ cory: this is "bloomberg technology." i am cory johnson. our top story this hour, snapchat's parent company snap continues its roadshow. the highly anticipated ipo set to price on wednesday after the market closes. they are continuing to pitch the company to investors and explain away it's slowing growth. joining us, alex barinka who is very excited about this deal. crawford del prete also excited. what is your take on this deal? >> this is a tough one. snap likes to say they are a camera company. cory: snap is a camera company. >> and then they go on to talk about how they compete with companies like apple and facebook. i would argue snap is an application company that has one key use case one demographic is interested in. they are struggling to add use cases, to add features that will get the growth accelerating. that is the problem. cory: to that point, alex, you have been talking to people doing these roadshows. i assume you have talked to people who invest in ipo's. that is a particular kind of investor. what are they saying about this deal? >> crawford is hitting it on the head. they are saying they are figuring out how to make money off the millennial generation. in the best case, people are looking at a slower user growth at the end of 2016, the coming down of engagement metrics. those are things they are increasingly concerned about because like investors do, they like to compare new stocks to past companies. when you think about snapchat, you think about twitter and facebook. with twitter, that was kind of the issue there. they did not have a second act. they are still figuring that out three years plus since the ipo. that is kind of some of the overhang here. for the folks making a long-term bet on the company, they think the sales growth opportunity is really there and they trust evan and his team to figure out what is next. they're making that bet without a lot of information about what the next generation of snap will look like outside of spectacle. cory: evan spiegel, the c.e.o. is thought to be a great product guy. snapchat is a product people love to use. argue thatett would anybody likes do you something for $.50 a cost one dollar to make. these negative gross margins. alex is right compared to twitter and facebook. facebook is profitable and has tons of free cash flow. twitter has cash flow from operations but is not profitable. issues with stock options willy-nilly. snapchat is not even gross profitable let alone operating profits. >> you have a tremendous amount of cost they are incurring to build out this infrastructure. overtime, they may want to build up their own infrastructure , which will take huge cap x. the thing i worry about, are we talking about this herd of customers that moved to snapchat and then move on? you were talking about how was it when facebook started adding features that the user growth started to turn? cory: we put it up briefly before. i want to get your take. the chart shows simple math. the cost of providing the service. i took the cost of goods sold and divided by how many users each quarter to see him as they have to spend on every user. in any business in the world, that number is supposed to go down. you add more users and have economies of scale. instead what we see is that the cost per user is going up. >> because the herd is thinning, it is getting harder and more expensive to get to each member and monetize them. explain to me how if your growth is roughly the same in europe as the united states and network costs are higher in europe, it will be cheaper -- cory: is that what this is about? is that what the rising cost is about where it shows the numbers going up because they are expanding? >> i don't know that. i'm talking about network cost, using the network service. cory: there is the chart. $.97 per user in the fourth quarter. the year before, only $.61. >> it is getting more expensive to reach every incremental customer. they blame it on android. really i think it is about getting to the more expensive person to get to. cory: it was talked about what they are doing. this is one of your favorite tricks to compare the amended offer to the actual offer. we have also committed to spending $1 billion over the next five years. that is $3 billion in expenditures they are on the hook for in this business losing money with every transaction. >> it is. this makes up the majority of their cost when you look at the cost of revenue. we heard questions about this on the roadshow. they did say they would consider potentially doing their own infrastructure. there are no plans for that now. the company is trying to explain this by saying we are making these investments upfront so we can expand quickly. the proof will be in the pudding. the revenue model is new. it has only been about two years they have been making larger amounts of money. in the next few years, whether they can continue to monetize the user base, whether they can ramp up revenue to a point where you are outpacing the rising costs, that is phase three the company talks about. it is one of the few salient points they point to as something to look forward to from a financial perspective. cory: she is alex barinka. she covers ipo's. she puts everything in the ipo hot sheet for bloomberg news. crawford del prete, thanks a lot. back to barcelona, where the mobile world conference is underway. caroline hyde caught up with tom wheeler, who established the net neutrality rules. his successor was a vocal opponent and is no trying to unwind some of those regulations. caroline asked for his views on what is happening next. >> it is highly dangerous to allow for companies, which is basically what we have in the united states, four internet service providers, to determine who will be able to get on their networks and determine who the winners and losers, what are the special terms. i will favor you, i will not favor you. we will not have the kind of economic growth. we will not have the kind of innovation necessary if we don't have networks that are fast, fair, and open. caroline: i was talking to the deutsche telekom c.e.o. he feels europe has a better way of doing things. do you believe that as well? >> it is interesting. europe adopted their open internet plan after we did ours, and they based it on ours. i came over and i helped them work through it. i think they are very similar. caroline: what could this do in terms of innovation and the internet of things? there are going to be many more connected devices. a lot of them crucial to infrastructure and health care. how do you ensure from a regulatory perspective the right data is flowing through the pipes? >> you have to make sure the pipes are open. we cannot be sitting in a situation where somebody who owns the pipes is determining what is going on, what is going over the pipes. because two guys in a garage are working on something right now you and i have never thought about that will be transformational and will use the power of ubiquitous connectivity and the power of more powerful and lower cost microchips to change things again. they need to be able to get on the network without permission. not, can i get on the network? i am competing with one of your companies, mr. isp, what about my product? one of the things the chairman shut down when he came in was the initiative i had on zero rating. zero rating. there are some carriers in the united states who are using the fact that they control the network to favor their products over competing products. the internet of things will not grow if that is the reality. two guys in the garage will not be able to compete if that is the reality. we will not have the kind of innovation and economic growth we need to have if that happens. how does that not become reality? if we have the administration as it is, what needs to happen to ensure net neutrality stays the way you would like it to be? >> the great thing is we have a law in the united states called the administrative procedure act. it stipulates how regulatory agencies have to act. you have to build a record, a public record. you have to make a decision based on the record. a court has the right to review that record. when we put out our open internet rules, we built an extensive record. and it was reviewed and affirmed strongly by the court. whether you can come back in a couple of years later and say things have changed so dramatically that you need to reverse all of those other decisions affirmed by the court, this is going to be a long process. we will see what the record is. we will see what the court appeal is. and then we will see where things end up. cory: that was chairman tom wheeler speaking to caroline hyde. tomorrow, she will sit down with his successor tomorrow at 7:30 in the morning wall street time. coming up, the latest chapter in the samsung corruption saga. it has been grabbing the countries attention for months. top executives await indictment. beyond tech giant move this probe? this is bloomberg. ♪ cory: huge story out of asia could be reaching its final chapter. a special prosecutor in south korea will make a final decision on tuesday whether to indict samsung executives including jay y. lee over bribery charges. who is jay y. lee, peter? >> he is the heir apparent at samsung. the broader picture is there is this investigation into influence peddling at the highest reaches of government. a special prosecutor was a -- appointed about two months ago and has been digging into allegations about corporations giving money in exchange, allegedly for political favors, including at samsung. the special prosecutor had a deadline to finish the investigation at the end of february. today here in asia. he had asked to extend that because it is a big project and was denied the extension, so they need to file charges today. a spokesman for the special prosecutor said yesterday of the five samsung executives identified as subjects, almost all will be indicted. we are expecting that later today. cory: what are the ramifications? it seems in the past, executives of the korean companies have been able to avoid prosecution by having close ties with elected politicians. >> the political climate has changed quite a bit. you are right. in the past, they have been prosecuted for a variety of things including jay y. lee's father. they continue to work at their companies in most cases. the political climate has changed quite a bit. there is a lot of outrage about this influence dealing at higher levels of government and business. the public is looking for more serious measures at this point. you saw this when the special prosecutor sought twice to put jay y. lee into jail as he continued his investigation. that is where he is right now. he is waiting for these charges, the indictments to be filed, waiting in jail. cory: it is a remarkable development for this company. how important this management team is to the company, it is not just a ceo. the way they worship a family at the company is amazing. >> right. jim riley -- jay y. lee has been the focus of this. samsung is a large organization. executives run individual pieces of it. the people we have talked to at samsung has said ceos of the individual businesses will be able to continue to run these operations. where it gets more challenging is if you take out the top leadership, it is hard to make big strategic decisions about where they will invest in technology they think is promising. or if they are going to do and m&a deal. the big strategic moves get more challenging if you have top leadership distracted with this sort of thing. cory: peter ahlstrom joining us from japan. thank you ray much. we appreciate it. a programming note. starbucks ceo howard schultz sits down for a wide-ranging interview on tuesday. starts at 1:00 a.m. new york and six clock and london. spacex ceo elon musk announces a surprise mission to the moon. two unnamed space tourists have put down big bucks for a trip. details next. this is bloomberg. ♪ cory: we call this segment "out of the world" because it is about space. elon musk says his company will launch two space tourists beyond the moon. two passengers, private citizens, they do not want their identities disclosed yet, the company says they are paid a significant deposit. unanswered questions, there are many. what? the moon? passengers? they're going to put a living thing in the rockets? >> correct. spacex was founded to send humans to mars. the moon is closer than mars so maybe this is step one as they figure this out. what is interesting is this comes at a time when the trump administration has signaled interest in sending humans to the moon. part of this is maybe a marketing effort by spacex to show excitement around space and show to trump they can do it. cory: many years ago when elon and i were like this -- we were not really like this. i did a story with him at spacex. we walked through the factory and i looked at this capsule that was going to be the top of the rocket. i said, what do you need a window for? he gave me this grin that suggested those plans were absolutely there to put people into space. >> oh yes. to be clear, spacex has a contract with nasa to send astronauts to the space station. but this is private citizens, not astronauts. while they are working with nasa to get certified to send dragon crew to the iss, they are announcing today two people have paid a significant sum to fly around the moon late next year. cory: richard branson had a successful flight last week in the desert. they are charging $250,000 per person. >> i think so. cory: should we try to guess what it will cost to go to the moon? >> i think what is different is spacex and jeff bezos and blue origin are talking about letting people experience weightlessness and bringing them back. this is orbiting the moon, a whole different ballgame. one analyst told me it could be $50 million apiece. there are plenty of people in silicon valley and hollywood who have that kind of money who would love to be the first to do it. cory: would you want to go? >> probably not. cory: i find the notion vaguely terrifying. maybe there are braver people. >> they are talking about doing it with a rocket they have not flown. we have not even seen it in the air yet. cory: family experimental stuff. where are they in terms of the satellite business? they launched last week. what happened? >> they docked at the international space station. cory: it did talk. -- dock. >> yes. they had a satellite office in seattle where they are building their own satellite network, but that has not been launched yet. they have been quiet about that as of late. they have several projects. the next big moment for them will be they have landed the first stage of the rocket on land and on the drone ship several times, but they have yet to re-fly it. they are supposed to do it this spring from cape canaveral. they have to get this in the air before they fly humans. cory: really fascinating. glad to have you covering it. that does it for this edition of "bloomberg technology." all episodes of "bloomberg technology" are now live streaming on twitter. check it out. every weekday at 5:00 wall street time. 2:00 on the west coast. that is it for now. this is bloomberg. ♪ >> investors await donald trump's budget when he plans to address a joint session of congress. the president is expected to lay out his 10 for a 10% boost to defense spending. >> the bond market awakens. marge comes back to life as odds 50%,rate hike jumped to a 10 point increase from friday. >> south korea's special prosecutor plans to indict jay y. lee. >> building bridges, not wars. in an interview with francine ltcqua, the decision to ha 10,000 refugees and shares his views on

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