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| DealBook Conference: Kim Kardashian West Supports Instagram Removing ‘Likes’ | DealBook Conference: Kim Kardashian West Supports Instagram Removing ‘Likes’ |
| (32 minutes later) | |
| Kim Kardashian West and her mother, Kris Jenner, discussed the rise of their multimedia empire and the consequences of social media at the DealBook Conference on Wednesday afternoon. | Kim Kardashian West and her mother, Kris Jenner, discussed the rise of their multimedia empire and the consequences of social media at the DealBook Conference on Wednesday afternoon. |
| Ms. Kardashian West, who has 151 million Instagram followers, said she supported the platform’s proposal to remove “likes” from posts as a mental health move. | Ms. Kardashian West, who has 151 million Instagram followers, said she supported the platform’s proposal to remove “likes” from posts as a mental health move. |
| “It would be really beneficial,” she said. “I know the Instagram team has been having lots of inner conversations with a bunch of people to get everyone’s take on that and is taking it really seriously, and that makes me happy.” | “It would be really beneficial,” she said. “I know the Instagram team has been having lots of inner conversations with a bunch of people to get everyone’s take on that and is taking it really seriously, and that makes me happy.” |
| What about those paid Instagram posts? Ms. Kardashian West said she decides on whether to accept offers from brands by taking into account her personal expenses and if it is “on-brand.” | What about those paid Instagram posts? Ms. Kardashian West said she decides on whether to accept offers from brands by taking into account her personal expenses and if it is “on-brand.” |
| “If I have a paid post that comes in, I think I can fund this amount of people behind bars that can help free them with simple legal fees that they just can’t afford then that would be worth it to me, even if the brand is off brand for me,” she said. ”I really weigh out things differently now than I used to.” | “If I have a paid post that comes in, I think I can fund this amount of people behind bars that can help free them with simple legal fees that they just can’t afford then that would be worth it to me, even if the brand is off brand for me,” she said. ”I really weigh out things differently now than I used to.” |
| Ms. Kardashian West, who is studying to be a lawyer, has been active on prison reform and said she plans to start a law firm to help people who have been incarcerated. | Ms. Kardashian West, who is studying to be a lawyer, has been active on prison reform and said she plans to start a law firm to help people who have been incarcerated. |
| — Sophia June | — Sophia June |
| David Marcus said he knew there would be an enormous amount of backlash to Libra, Facebook’s cryptocurrency announced earlier this year. | David Marcus said he knew there would be an enormous amount of backlash to Libra, Facebook’s cryptocurrency announced earlier this year. |
| Mr. Marcus, the Facebook executive in charge of Libra, admitted he would have done things differently in announcing the initiative. He said he would have stayed away from any intimation that Libra was a “new currency.” Instead he would have underlined the idea that creating new financial infrastructure would help people, especially those in developing countries. | Mr. Marcus, the Facebook executive in charge of Libra, admitted he would have done things differently in announcing the initiative. He said he would have stayed away from any intimation that Libra was a “new currency.” Instead he would have underlined the idea that creating new financial infrastructure would help people, especially those in developing countries. |
| “The way I think about it is as a responsibility, we have to innovate” on behalf of those underserved communities, Mr. Marcus said. | “The way I think about it is as a responsibility, we have to innovate” on behalf of those underserved communities, Mr. Marcus said. |
| The Libra project, which was secretly incubated it inside the company for over a year before being unveiled in June, has faced a torrent of criticism from regulators and central bankers, who cautioned against the idea of a new, unregulated method of transferring money across borders. | The Libra project, which was secretly incubated it inside the company for over a year before being unveiled in June, has faced a torrent of criticism from regulators and central bankers, who cautioned against the idea of a new, unregulated method of transferring money across borders. |
| And the questions surrounding Libra come at a particularly inopportune time. Facebook has grappled with larger issues around privacy, antitrust and disinformation in the lead up to the 2020 presidential election. Facebook initially had 27 partners that it hoped would help give the cryptocurrency legitimacy and spread it. Only 20 remain. | And the questions surrounding Libra come at a particularly inopportune time. Facebook has grappled with larger issues around privacy, antitrust and disinformation in the lead up to the 2020 presidential election. Facebook initially had 27 partners that it hoped would help give the cryptocurrency legitimacy and spread it. Only 20 remain. |
| But Mr. Marcus said he was confident that the partners who had dropped out — including big names in financial services industry like PayPal, Mastercard, and Stripe — would ultimately want to be “part of the innovation” that Libra will bring. | But Mr. Marcus said he was confident that the partners who had dropped out — including big names in financial services industry like PayPal, Mastercard, and Stripe — would ultimately want to be “part of the innovation” that Libra will bring. |
| — Davey Alba | — Davey Alba |
| Kevin Systrom, the co-founder of Instagram, said that he believed breaking up big tech companies prescribed a “general medicine” to “very specific strains” of problems. | Kevin Systrom, the co-founder of Instagram, said that he believed breaking up big tech companies prescribed a “general medicine” to “very specific strains” of problems. |
| “If big companies weren’t allowed to buy little companies, you would get a bunch of innovation that wouldn’t end up taking off,” said Mr. Systrom, who founded the company with Mike Krieger. | “If big companies weren’t allowed to buy little companies, you would get a bunch of innovation that wouldn’t end up taking off,” said Mr. Systrom, who founded the company with Mike Krieger. |
| The pair sold it to Facebook for $1 billion in 2012. Mr. Systrom left the company six years later, reportedly over disagreements about how Facebook asserted more control over the photo-sharing app. | The pair sold it to Facebook for $1 billion in 2012. Mr. Systrom left the company six years later, reportedly over disagreements about how Facebook asserted more control over the photo-sharing app. |
| The model of allowing bigger companies to give small ones the runway to figure out how “to grow and thrive” is a model Mr. Systrom said he agreed with, and he warned against judging companies for their decisions in retrospect. | The model of allowing bigger companies to give small ones the runway to figure out how “to grow and thrive” is a model Mr. Systrom said he agreed with, and he warned against judging companies for their decisions in retrospect. |
| “When someone comes to you and offers $1 billion for 11 people, what do you say?” Mr. Systrom asked Mr. Sorkin. | “When someone comes to you and offers $1 billion for 11 people, what do you say?” Mr. Systrom asked Mr. Sorkin. |
| — Davey Alba | — Davey Alba |
| Airbnb plans to conduct a comprehensive review of every property listed on its platform, as part of a series of initiatives to give customers “peace of mind,” said Brian Chesky, the company’s chief executive. | Airbnb plans to conduct a comprehensive review of every property listed on its platform, as part of a series of initiatives to give customers “peace of mind,” said Brian Chesky, the company’s chief executive. |
| By the end of next year, Airbnb will have checked the accuracy of the photographs and addresses on each posting, as well as verified that listings meet safety standards and that the hosts are who they say they are, Mr. Chesky said. | By the end of next year, Airbnb will have checked the accuracy of the photographs and addresses on each posting, as well as verified that listings meet safety standards and that the hosts are who they say they are, Mr. Chesky said. |
| “We’re going to make sure we can stand behind every single listing, every single host,” he said. “We want to give peace of mind to our guests.” | “We’re going to make sure we can stand behind every single listing, every single host,” he said. “We want to give peace of mind to our guests.” |
| In addition, the company will guarantee refunds to guests who check in to an Airbnb that does not match the listing on the website, and establish a hotline to address concerns from neighbors. | In addition, the company will guarantee refunds to guests who check in to an Airbnb that does not match the listing on the website, and establish a hotline to address concerns from neighbors. |
| “About two million people a night stay in Airbnbs and most without incident,” he said. Still, he added, “It’s hard to prevent every bad thing happening.” | “About two million people a night stay in Airbnbs and most without incident,” he said. Still, he added, “It’s hard to prevent every bad thing happening.” |
| — David Yaffe-Bellany | — David Yaffe-Bellany |
| “Thank God we went public when we did,” said Dara Khosrowshahi, the chief executive of Uber, at the DealBook conference on Wednesday morning. | “Thank God we went public when we did,” said Dara Khosrowshahi, the chief executive of Uber, at the DealBook conference on Wednesday morning. |
| Uber, the most prominent tech company to go public in 2019, has gone through a dramatic transition in the past two years, from the founder’s ousting to its rocky initial public offering in May. | Uber, the most prominent tech company to go public in 2019, has gone through a dramatic transition in the past two years, from the founder’s ousting to its rocky initial public offering in May. |
| In recent months, Mr. Khosrowshahi has launched into a belt-tightening operation to cater to company investors’ appetite for a clearer path to profitability. Uber laid off more than 1,000 workers in three rounds of job cuts, removed top executives and saw board members leave. Mr. Khosrowshahi said the company was on a “strong path” to achieve its goals. | In recent months, Mr. Khosrowshahi has launched into a belt-tightening operation to cater to company investors’ appetite for a clearer path to profitability. Uber laid off more than 1,000 workers in three rounds of job cuts, removed top executives and saw board members leave. Mr. Khosrowshahi said the company was on a “strong path” to achieve its goals. |
| “Fundamentally, the ride-sharing business is upscale, is global, is an attractive business, and is only going to get better in a competitive market,” he said. | “Fundamentally, the ride-sharing business is upscale, is global, is an attractive business, and is only going to get better in a competitive market,” he said. |
| Wednesday represented a milestone in the arc of Uber’s story, as the company’s post-initial public offering lockup expired — meaning that shares held by early investors became eligible to trade on the market. | Wednesday represented a milestone in the arc of Uber’s story, as the company’s post-initial public offering lockup expired — meaning that shares held by early investors became eligible to trade on the market. |
| As the shares become available, and more risk-averse investors sell their stocks, Mr. Khosrowshahi said the company was “going to find alternative investors who believe in the story and believe in the numbers.” | As the shares become available, and more risk-averse investors sell their stocks, Mr. Khosrowshahi said the company was “going to find alternative investors who believe in the story and believe in the numbers.” |
| He defended the company’s position that it would not reclassify its drivers as employees in light of a recently passed bill in California. | He defended the company’s position that it would not reclassify its drivers as employees in light of a recently passed bill in California. |
| “92 percent of our drivers work less than forty hours a week,” he said. “I think this law is misguided and we’re going to fight it.” | “92 percent of our drivers work less than forty hours a week,” he said. “I think this law is misguided and we’re going to fight it.” |
| On Wednesday, Bloomberg reported that 96,000 drivers represented by the New York Taxi Workers Alliance sued Uber in federal court for not repaying taxes it deducted from drivers’ cut of fares. | On Wednesday, Bloomberg reported that 96,000 drivers represented by the New York Taxi Workers Alliance sued Uber in federal court for not repaying taxes it deducted from drivers’ cut of fares. |
| — Davey Alba | — Davey Alba |
| Dennis Muilenburg, Boeing’s chief executive, said that he has considered stepping down in the wake of two fatal accidents involving the company’s 737 Max jets. | Dennis Muilenburg, Boeing’s chief executive, said that he has considered stepping down in the wake of two fatal accidents involving the company’s 737 Max jets. |
| “I’ve thought about it,” Mr. Muilenburg said at the DealBook conference Wednesday morning, during a discussion about how he has handled the fallout from the crashes, which killed 346 people. Mr. Muilenburg said he decided to remain in his position because he feels responsible for getting the company through the crisis. | “I’ve thought about it,” Mr. Muilenburg said at the DealBook conference Wednesday morning, during a discussion about how he has handled the fallout from the crashes, which killed 346 people. Mr. Muilenburg said he decided to remain in his position because he feels responsible for getting the company through the crisis. |
| “I don’t see running away from a challenge, resigning, as a solution,” Mr. Muilenburg said. “These two accidents, they happened on my watch on Boeing. And I feel obligated, I feel responsible to stay on.” | “I don’t see running away from a challenge, resigning, as a solution,” Mr. Muilenburg said. “These two accidents, they happened on my watch on Boeing. And I feel obligated, I feel responsible to stay on.” |
| Mr. Muilenburg said he decided to give up “tens of millions of dollars” in bonus and stock pay until the plane is flying again after meeting with families of victims of the crashes. | Mr. Muilenburg said he decided to give up “tens of millions of dollars” in bonus and stock pay until the plane is flying again after meeting with families of victims of the crashes. |
| “I felt it was important for me to forgo those bonuses and send a message of responsibility,” Mr. Muilenburg said. During recent Congressional hearings, lawmakers assailed Mr. Muilenburg for not taking a pay cut since the accidents. | “I felt it was important for me to forgo those bonuses and send a message of responsibility,” Mr. Muilenburg said. During recent Congressional hearings, lawmakers assailed Mr. Muilenburg for not taking a pay cut since the accidents. |
| When asked why the company believed the plane was safe to fly even though employees had voiced concerns, Mr. Muilenburg said that he would have responded to the first crash differently “if back then we knew everything that we know now.” | When asked why the company believed the plane was safe to fly even though employees had voiced concerns, Mr. Muilenburg said that he would have responded to the first crash differently “if back then we knew everything that we know now.” |
| “We tried at every step to make the best decisions based on the data we had,” Mr. Muilenburg said. “But we could have done better.” | “We tried at every step to make the best decisions based on the data we had,” Mr. Muilenburg said. “But we could have done better.” |
| — Natalie Kitroeff | — Natalie Kitroeff |
| Valerie Jarrett, a former senior adviser to President Obama and the board chair of We All Vote, a nonpartisan organization started by Michelle Obama, said she doesn’t see the current Democratic Party as a rebuke of the Obama administration. | Valerie Jarrett, a former senior adviser to President Obama and the board chair of We All Vote, a nonpartisan organization started by Michelle Obama, said she doesn’t see the current Democratic Party as a rebuke of the Obama administration. |
| “One of the advantages of the Democratic Party is that we have a very big tent,” Ms. Jarrett said. She argued the distinction between candidates wasn’t vast. | “One of the advantages of the Democratic Party is that we have a very big tent,” Ms. Jarrett said. She argued the distinction between candidates wasn’t vast. |
| “The second you walk into that Oval Office, your challenge will be the art of the possible, not what you think is the absolute best thing to do,” Ms. Jarrett said. “Let’s have a full-spirited conversation about the range of options, but frankly they’re not that different compared to the current monstrosity in the White House.” | “The second you walk into that Oval Office, your challenge will be the art of the possible, not what you think is the absolute best thing to do,” Ms. Jarrett said. “Let’s have a full-spirited conversation about the range of options, but frankly they’re not that different compared to the current monstrosity in the White House.” |
| — Sophia June | — Sophia June |