9 billion transaction to gain full approval. We have full coverage. Plus more from our inaugural screen time event and hear from the ceos of netflix, youtube, and the head of the kardashian clan. First, a quick check in financial on financial markets. We are conscious of what is happening in the middle east, the focus of israel and hamas. Nasdaq 100 down 1. 3 on a weekly basis just on track for a weekly gain. Its third successive weekly gain , longest run of weekly gains going back to early june. Lets see if that is where the holds where that holds. U. S. 10 year yield 3. 6 percent, as Oil Continues to climb. If you are in the tech sector, a lot of the conversation, oil and energy if we rise higher, what does that mean for inflation and what does that mean for the fed and what does that mean for technology sector. Bitcoin around 27,000 u. S. Dollars. How many times have i said that so far in recent weeks and months. The main story is what is happening in the middle east. I want to get to the latest developments in the israel hamas war. Joining us from tel aviv is bloomberg correspondent oliver crook. Lets be frank, a lot has happened this friday. Oliver it has been intense 24 hours, starting on 5 30 6 00 when we got the Evacuation Order from the Israeli Defense forces where they told the residents of gaza city in northern gaza but they should leave the area and that is how the day began and the u. N. Said that is basically an impossibility, it is important to get these people out says the Israeli Defense forces because they want to minimize civilian casualties. We are talking about displacement of 1. 1 million people, about half of the population of gaza. To then compress them into about 50 of the space they began with is something the u. N. Is saying will turn tragedy into catastrophe and the tragedy we are talking about is a death toll exceeding 1500 people in gaza. The Health Care System is entirely overwhelmed, they have no water, electricity, food, internet, and israel overnight continued to strike 750 military targets in response to the attacks on saturday the left now we know 1300 edge israelis dead 1300 israelis dead mostly civilians. Ed an incredible list of developments. As you say it has been a 24 hour process. Theres a bigger question about the middle east and you have an on the ground there in tel aviv but also thinking about neighbors and what else is in the new cycle. The geopolitical complexities are absolutely vast so it comes with a lot of support from western allies to israel, so starting with Antony Blinken yesterday. We have the u. S. Defense secretary today but yesterday blinkens message or two of them, one, a total and unconditional support within the second message and that was about how israel goes about taking out hamas is going to be important. What blinken said as it is so important every possible precaution to avoid harming civilians is taken and we mourn the loss of every single innocent life. This is the background to all of the meetings blinken has conducted today right now and Antony Blinken just gave a press conference with the qatari for you foreign minister, meeting with the saudis, egyptians, the uae, and this is the conversation you will have. As israelis are seeing these horrific pictures on their phones and that put pressure on the government even more, all of the arab world is seeing what is going on in gaza and youve seen protests in iraq where they have they have been burning israeli flags but running the palestinian flanks flags. Iran has been meeting with the leadership in hezbollah and hamas in lebanon today. A really very complex situation and these countries are going to come under immense pressure themselves. Ed later in the program, we will continue on the causation of social media and bloomberg is reported extensively. We discussed on this program there is video content on lots of platforms circulating, that purports to be one thing, and in fact is another. It is not what it purports to be. Experts, the government urging caution on that front. There is an issue of logistics and mechanics as well that you on the ground are starting to cover and understand and evacuation and defense, the role of technology, what have you learned since arriving in tel aviv . Bobby there is a question of iron dome and could be overwhelmed. This hangs over we understand some of the ammunition for the u. S. Applies here in israel was transferred today. We know the u. S. Has sent equipment and there is more on the way but it is not really known how many rockets hezbollah has in lebanon and many are far range rockets. I heard the first air raid siren go off in tel aviv about two hours ago. This is the first when they have had so far and that apparently was fired from gaza. It really highlights the risk, particularly as israel is seemingly gearing up for what could be a ground invasion. You have more than 300,000 troops stationed near gaza. The government has not said whether or not they will launch the attack yet but they have asked to evacuate the northern part of the city and if they do attack, it opens up a whole other set of questions about how they go about this and they relinquish many of their technological and military advantages once they get into an urban combat zone. Even if they limit hamas, what to they do next . What is the axis strategy . What comes after that . These are the questions we have to ask for the next days and weeks. Ed oliver crook, stay tuned to bloomberg, thank you for reporting. We stay with the story of the israel hamas war but think about technology. Joining us is a person who served as israels first cto and lets start there. I thing iron dome and particular , your assessment of the Role Technology is playing in the israeli response to the weekends events. First of all, thank you for having me on the show. The events that started saturday morning with this isistype massacre of innocent civilians north of 1200 people have really challenged israel but to paraphrase from the American National anthem, israel is the land of the free and home of the resilient and im sure with technology we are going to persevere, we are going to win this and continue to contribute to the way in which global humanity is dealing with its soft challenges throughout technology. This is not Just Technology and defense, israel is a powerhouse of technology in solving some of the biggest problems facing humanity and our system is committed to that, its role, within this global context. Ed one area of the Technology Discussion is in intelligence and data and a debate that has taken place on the show this week was about the preparedness of Israeli Intelligence forces. We had one academic on the show who said it was not a lack of intelligence would simply a lack of imagination at the scale of what hamas would have been able to do. Please reflect on your experiences as the chief Technology Officer of the country and share with our audience what you know israel had in place in recent times in the areas of defense intelligence. I think you are totally right and spot on. Israel deployed numerous technology. I think the core was iron dome. I remember may 2009 i was on the president s team as we came to meet president obama in the white house after the inauguration. Technology was a big part of that, Defense Technology was a big part of that. I think you are totally right about the limitations of technologies as to the imagination cap. Technologies provide us with data, they provide us with signals if you will but it is at the end of the day the human interpreter that needs to put in the signal, the noise ratio, and figure out what is the possible scenario if you will. I would like to equate that with what happened in 9 11 in america , the cia, fbi, we know that from our Investigative Committee post 9 11 has had a significant degree of intelligence but was about putting the bits and pieces together and anticipating people would go into and transform an airliner into a bomb and crash it into the twin towers and targets in the u. S. I think you are spot on on that. You can be a superpower the size of the u. S. , a Technology Superpower the size of israel, and deploy frontline technologies but at the head of the day it is about the ability to imagine what could be the human factor usage of those signals in the terror context. Ed i would point out the viewpoint that it was a lack of imagination rather than intelligence was the viewpoint of professor freilich of intelligence of columbia, a former intelligence to your country. We talked about the Hardware Technology response and software response. Lets talk about the industry. You yourself are a startup founder, israels economy has deep roots in technology. What is it like right now to operate a startup, a small startup in israel, with what is happening in the country . Bobby fundamentally, israel has had over the last week a 10 trillion worth of Market Capital vote of confidence between microsoft, apple, google, amazon , nvidia who all deployed significant parts of their r d and apple runs part of israel with semiconductors and sodas intel. Google has a profound facebook r d. And andy jassy at amazon, sunder pichai, the leadership of those companies have unequivocally supported israel and the system here, two to 3 trillion more of support in what is going on here, the lifesize of the industry in cyberspace industry. Part of what enables our conversation now and for the viewers at home from the moment they woke up until now it would have probably used an Israeli Technology so we continue to perform, we continue to develop and part of that is how do we manage the emergency situation in israel and out of empathy for the workforce, to the broader community, but how do we remain committed to solving the greatest challenges, even when we are under war and under attack of thousands of rockets. This insidious attack, ices class from last saturday. That is what we are committed to do. Ed founder and ceo of healthy i o and the former nvidia had been due to hold its ai summit in tel aviv sunday and monday but it was canceled given the events of the week. Coming up on bloomberg technology, we turn to m a as the biggest deal in gaming history has finally come to fruition after u. K. Regulators approved microsofts revised offer to buy activism, blizzard. We will have the details next. This is bloomberg technology. Microsoft brought forward this fundamental concession, fundamental restructure of the deal which now puts all of the cloud stream in relation to activisions games content, all of the games available now but also any content created the next 15 years and those rights are put in the hands of ubisoft, an independent capacitor, and that breaks the stranglehold we were concerned Mark Zuckerberg would have over this important cloud gaming sector. Ed that was the u. K. Cmac ceo on the deal joining our colleagues earlier today. For more, lets turn to cecelia, our videogame reporter at bloomberg. It has happened. It is done. Lets go back to the origin of this because everyone forgets because the discussion about regulators about cloud, this is about mobile games, right . What is it microsoft will have to do with activision to catch up to mobile games . A lot has changed in the mobile gaming landscape since the deal was announced. Mobile gaming has been a behemoth for a long time, microsoft has been behind on capitalizing on interest in mobile games, casual games, free games for smartphones and now with candy crush, which activision makes, they have in their hands one of the most if not the most blockbuster mobile game games in the west. It is interesting because of the same time the mobile gaming industry has experienced a contraction, it is oversaturated. It will be interesting to see how microsoft leverages their power to capitalize on candy crush and other mobile games under activision. Ed what we learned about mechanics of what happens next . A headline on the bloomberg terminal is a person will leave the joint entity after 2023. Bobby has led the company for decades and brought it to where it was today and he has said he will step down at the end of this year and, until that time, will be working under mike is off gaming chief phil spencer who became famous through stewardship of the xbox. Ed when last it was disclosed, activision had like 13,000 employees. This deal has dragged on, taking activision, and merging it with microsoft, will not be straightforward. As a beet reporter who knows the industry inside and out, how do you think that will go . I mean consolidating two companies is never easy for two Companies Like this especially with the microsoft that has so many different capabilities across so many different platforms and technologies, i think it will be an immense challenge. Microsoft is not immediately adding activisions games to game pass which i think has been one of the really big exciting things that phil spencer and bobby have talked about over the last couple years and that should show you that there is a lot to get in place before we can really see how big and impactful the deal will be for microsoft. Ed celia come all across this deal for months and months, thank you very much. Coming up, what the future of streaming holes. Our conversation with the netflix ceo out of bloomberg screen time. This is bloomberg. J. P. Morgan Wealth Management knows its easy to get lost in investment research. Get help with j. P morgan personal advisors. Hey, david ready to get started . Work with advisors who create a plan with you, and help you find the right investments. So great getting to know you, lets take a look at your new investment plan. Ok, great this should have you moving in the right direction. Thanks jen. Get ongoing advice; and manage your investments in the chase mobile app. Is it possible to fall in love with your home. Before you even step inside . Discover the Magnolia Home james hardie collection. Available now in siding colors, styles and textures. Curated by joanna gaines. The Morgan StanleyClient Experience . Listening more than talking, and a personalized plan to guide you through a changing world. Ed time for talking tech. The king of k pop is building the next bts in l. A. The founder and chairman of high b wants to replicate the formula that changed the pop Music Industry while the worlds biggest boy band is on hiatus and he discussed the role of ai in k pop with sue chem and lucas shaw. [speaking other language] ed one for the kpop fans, now the netflix ceo also spoke at the bloomberg screen time event on a wide range of topics including the actors try, cracking down on password sharing, and reflecting on the pace of streaming in the industry. Have a listen. Saved this industry because where we were heading at that time, when we started this business of streaming we started licensing content from the networks and at the time we were licensing, we could only get what was available which was nothing. So we were licensing from the bottom of the barrel, things that had no revenue for anybody. Shows that did not get to syndication, things that were not otherwise sold. Kind of like what to be another services game around started. And we gave it away with the dvd business. You got what you paid for back then. I would say that created a whole new revenue stream for the networks and studios, its created a new residual stream for actors, performers that performed in the shelf and really got the ball rolling in a way that obvious at think these things can take decades to build. But with meaningful businesses, that is a good investment. And it is a Good Business for us, 32 Million Dollar revenue, 6 billion of profit, and we have been growing the business dramatically quickly. We are not growing as fast as we want to but we are still growing the business. Im curious on that point, and your remarks i figure last Earnings Report talked about how you are still not growing as quickly as you would like to. There was a point in time where every year like clockwork netflix would add 25 million to 30 million customers. Postpandemic that has come way down. What you doing about that and do you think you can get back to the level of growth you are at three to four years ago . I think the key is growing revenue and for us that is a combination of putting a great product on the board. When you talk about his streaming a Good Business, it is if you do well area i would say the team at netflix in terms of programming, her team is phenomenal on focusing on what people love. And the Creative Team is creative at delivering what people love. The team that delivers the ui spirits or something that happens at netflix that is all most impossible anywhere else and i would say because of our distribution footprint and recommendations that you have the ability if you are telling the story from the career that you are telling the biggest Television Show the world and that can only happen on netflix. It is not just taking obscurity and making it big. Imagine somebody as big as David Beckham who releases his document reon netflix and in days grosses social media following by half a million people. I think this happens over and over again with a combination of our distribution footprint and recommendation. Which i think is what the sting which is the business. The way you grow it is keep doing that, better and better. The opportunity to grow it is enormous. We are about 10 of screen time when people are using it to watch on their tv and at home, time about 10 in our penetrative markets in the u. S. Around the world, significantly smaller, about 5 of Consumer Spending in businesses we are in which is pay television, advertising supported television, and games. As you look at that, we are just in our infancy in those businesses. 5 of Consumer Spending. That first time you take a ste