YouSaid · the spoken record

Bill Browder

lines on the record: 85
first: 2019-09-23
most recent: 2019-09-23
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“They can. They're up all night in St. Petersburg. I know, literally. You can catch them. There's ways to catch them with certain hordes you can use. Anyway, if you like this episode, we really appreciate it. If you shared it with a friend, and make sure to check out our other podcast, Recode Media, Pivot and Land of the Giants. Just search for them in your podcasting app of choice. Thanks also to our editor, Joel Robbie. Thank you for listening to this episode of Reco Decode. I'll be back here on Wednesday. Tune in then.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Twitter at Jbrowder1. Okay, great. And I'm going to praise you to see what happens. And then I'll say Straw's VTA to all of them. And, you know, that's what I do. There you go. I was talking to a reporter who was responding to Russian bots and I actually texted him like, those are Russian bots. Stop talking to them because they won't respond properly or sometimes they do. Oh, they go.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“That's a good thing. Well, good. All right. Thank you so much, both of you. I love when a son and father do social justice and use the internet for profit fun. I really appreciate it. Again, Josh Browder, his company is called Do Not Pay, and I'm going to use it for a couple of things now that I realize I can do that. And Bill is still working on these issues around Russia and their complete abuse of financial systems, the internet, et cetera. Thank you so much for coming on the show. You can follow me on Twitter at Kara Swisher, my executive producer Erica Anderson, is at Erica America. My producer, Eric Johnson, is at Hey Hey ESJ. Phil and Josh, where can people find you online?”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“It's a struggle in the EU, but that's our big thing. The other thing which we're trying to do is we figure out who got the money, who got the $230 million from the corruption scheme that my lawyer Sergei Magnitsky exposed and was killed over. And we found that money in going through a lot of different countries, a lot of different banks, and we are working with law enforcement in 16 different countries to have the bankers prosecuted and the money frozen. For the guys who value money more than human life, those people, when their assets get frozen, get very upset. And that's a good thing.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“The Marbea in Spain. And they love that stuff. And if we can get an EU magnetic act on those villas, we'll get seized. They won't be able to travel. They'll be stuck, sentenced to life in Russia. And that would be a huge, huge thing. It's sort of halfway there. Some of the good European countries are pushing it forward. Hungary, which is led by a man named Victor Orban, who's the buddy of Putin, is trying to stop it. You've got other countries like Italy where you have Salvini, who is the best friend of Putin, who's also trying to stop it. It's down there.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Well, the Magnitsky Act is protected. From my perspective, there's two things I'm doing. One is to get other countries to pass the Magnitsky Act. We've got the Magnitsky Act passed by the United States. We succeeded in getting a Canadian Magnitsky Act, a British Magnitsky Act, an Estonian, Latvian, and Lithuanian Magnitsky Act, the island of Gibraltar and Jersey have Magnitsky Acts. But the big prize is Europe, the EU. The Russians all travel. South of France to Sardinia and Italy.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Have to match up. This is not rocket science The indigestion of the legislative system and the fact that no one's even willing to consider this in Congress is, well, I should say in the Senate, the House actually passed the bill. The Senate didn't. Right.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“For both. Both Microsoft is proposing both an encrypted digital ballot, which has an accompanying paper ballot that you have to match up.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“I mean, how much money is enough? Just stop it. Because anyone can do political advertising. And they have, and they do. And then I think that unless there's confidence in these electronic ballots, just go back to paper ballots.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Well, I mean, it's pretty straightforward that on the social media side, if someone were to change the rules and say that, you know, you can't have a Twitter account unless you're a person. You don't have to have like, say, who you are. You just have somebody has to have a record that you're like a real person. And then real people can say whatever they want. But like fake people, bots can. And I would argue that Facebook shouldn't sell political advertising.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“The moment that people lose confidence in the democratic system, that's the truly terrible third world situation that we'll have to deal with. And that's something that will be just inconceivably bad for the future of this country.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“And yeah, the Russians can decide one. So let's just say that Trump loses the next election. He's not going to accept the result. And so”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“In any way they can to try to achieve their objectives, which will be very inexpensive for them to do. It's remarkable. I mean, so in Holland, for example, they were worried about Russian interference in their elections, and they had started to automate their ballots. And what do they do? And it's been determined, whether you're a Democrat or Republican, has been determined that Russia interfered with the U.S. election. They interfered with social media. And they actually tried to get access to the voting machines. And so it's illogical and inconceivable that there is not a consensus, 100% consensus that we need to tighten that up. And the fact that we haven't is absolutely shameful. And there will be more interference in the future. And the trouble with that is that”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“And the Russians have not been penalized properly. They have not been punished. And, you know, sort of like that $5 billion FTC fine for Facebook, they will be back. The Russians will be back and they will be back.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Right. And you think about that. Oh, you're so normal. It's so lovely to talk to you. Anyway, and lastly, let's finish up with you talking about the concept of where we go from here with the elections. There's all this stuff stuffed up in the Senate right now, Moscow Mitch apparently. That's his nickname on Twitter. So I've read, is stopping that. How do you look at those things? This is something you're pushing to change?”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“So when you're going out as an entrepreneur right now, what is the feeling in the market that you think is a problem and what do you think would be a good thing?”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“I think they will all come back to bite them ultimately when the market crashes. One of the benefits of having like a financial family is that I don't buy into any of this bubble stuff. So I believe in long-term success”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“The user. Yes, yes. We realize that. And lastly, for you, when you're thinking about being an entrepreneur raising money, it's quite a frothy environment right now. Capital is everywhere. I always use the expression there's not enough rat holes to shove the money down. What is that like as an entrepreneur right now? A lot of entrepreneurs are getting too many rides, for example, complete control over the company. Stock, like you look at the WeWork IPO and you say, oh my God, like that's sort of the ultimate in complete investor abuse in some ways”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“I think that creating an amazing service will ultimately be a great business opportunity. And if your incentives are aligned with your customers, I think that's the most important thing. For us, our subscription only starts if people save money. So our thing is, how can we save the money or get them success as quickly as possible? That's how businesses should be thinking. With Facebook, the customer of Facebook is the advertiser, not the user.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“The whole policy. Oh, yeah. They hate it, which is mean. I think it's good. Yeah, that's great. When they start complaining to me, the billionaires start caveching about their poor lives. It's always a plus for me. But in terms of entrepreneurs, and I'm not saying for good because it should be a financially lucrative thing, how do you look at this as a business? You're not doing this just because you're a nice guy and want to get people out of.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Terrible. So, when you're thinking about doing these kind of things, you're exactly, the reason I did want to talk to you is because one of the things we're talking about, you kind of want to appeal to these companies to do it for the right reason. And then I'm like, one of the reasons for the breakup, for example, if you break up YouTube or Google or if you break up into three people, whatever you do, whatever you take off of Facebook, the next morning YouTube's got to be saying, you know what? Maybe, or there's room for someone else to say, I'm going to create a video service that actually protects kids. I'm going to create a search service that doesn't track you as much. I'm going to create, like, you get the mentality of choice so that you appeal to something that people want, that they didn't know they wanted.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“I agreed a vague, right? Or something like that. And why doesn't that take hold? Because they want all the money for themselves, besides the fact they're greedy.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, in the UK, we have this new laws coming out. I think throughout Europe called PSD2, which means that all your financial data is yours and every company holding it has to create APIs. I think we need similar stuff in the US, data portability.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Run these companies, yeah, yeah, yeah, it's a lot of money. So one is disincentives to do the things. What about an idea of people investing in things that do? Because there is a point where I think consumers are going to take back. As they did with entertainment in a lot of ways. Entertainment held people hostage. You had to buy 12 songs on an album. You had to see this movie win. You had to sit down at this point. And they had total control over your entertainment watching. And I think people seized first illegally and then quite legally.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Data breach is automatically applied, things like that. I wanted $50 billion in the FDC. What do you think? I think that was just like.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“I'm a big believer in bottom up change. That's obviously a top down change. There's big government coming in. The government is not going to do anything. It takes consumers coming together to make a real change, in my opinion.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“We have a long way to go, yeah. So, what does that say as an entrepreneur when that happens? When a company like Facebook pays a small amount of money, and then of course which they made up in seconds”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Do you think that will change? I just interviewed Gabe Weinberg, who's the head of Duck Duck Go. He's the founder of Duck DuckGo. And, you know, he's talking about why not, why are we doing behavioral ads at all, for example, when contextualized are just as lucrative in some ways?”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“I see it all as incentives. And so if you can just punish the bad actors with maximum pain, which is what do not pay is trying to do, then eventually hopefully we'll live in a world where they hire competent people and encrypt people's data and also don't spam them with ads endlessly.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“So, when you think about that, I mean, obviously you're using it as a business opportunity, as an entrepreneur to do that at the same time as protecting people. How do you change the mentality of Silicon Valley to think like that? Because these are, like, there's not that many companies like yours. There aren't. There's some that, you know, where you can, I suppose the closest analogy would be to VPNs where you're going to be protected when you're surfing the internet to protect your privacy or what you're searching on so you don't get marketed too endlessly, which is another big problem being marketed to endlessly.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Millions and millions of accounts and then hundreds of thousands of social security numbers just released because they didn't encrypt it properly. And it takes like one Stanford computer science class to learn how to do that. And it's amazing that these corporations with billions of Assets can't even do it properly. And so I think every week there's going to be another data breach. Things like that is the real concern for consumers.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“I think everyone is very upset about privacy, and rightly so, but the biggest problem in the world is just incompetence. The Equifax Data Breach happened because they didn't use basic encryption. And we have that. There was Capital One, hundreds and hundreds of millions of people.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Right. And so the concept is sort of the way modern societies now is we become more digitized, we've been sort of attached to everything we do is digital. Who are the worst offenders in this area? Is it just every part of it or is it just analog things? Or you're talking about attacking online services or offline services, really.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, Nanny could just play video games all day, like he does, apparently, allegedly. That's what I understand. Anyway, when we get back, we're going to talk with Bill and Josh Browder. They are respectively the CEO of the Hermitage Capital Management and the CEO of Do Not Pay. They are also father and son. We're going to talk about sort of where entrepreneurism is going and also where some things we need to do to protect our elections going forward. We're here with Bill and Josh Broder. Bill is the co founder and CEO of the Hermitage Capital Management, and his son, Josh, is the CEO of Do Not Pay. Josh, where do you see? So you could endlessly do this, right? You could endlessly do all kinds of loopholes, like moving on from one to the next, correct?”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Jamal Khashoggi murder, Lindsey Graham, and many other Republicans were pounding the table saying that these people should be sanctioned going right up to Muhammad bin Solman. And in the end, the U.S. administration sanctioned 17 Saudis on the Magnitsky Act, the one that Donald Trump wouldn't allow to be sanctioned is Mohammed bin Solman. But that doesn't mean that future government won't. And in fact, I think MBS should be happy. Trump is in place because any president, Democrat, or Republican... In the future, we'll hand that man over”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“And I've met many members of both sides of the aisle and whether people criticize Donald Trump or not on the Republican side. They're not going to allow Russian tortures and murders to come back into America. So I think the magnificent Saudi Saudi”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“And it took him about four days to walk that back. And it was only one hour before the Senate voted 98 to 0 that none of us should be handed over. And so Donald Trump, I don't know what's going through his mind, his administration is not like that. I mean, at the same time as he was considering it the spokesperson from the State Department said it was absurd. The head of the FBI said, that's not going to happen, et cetera, et cetera. But I don't know what he's going to do, but I'm not as concerned about the Magnitsky Act being repealed for one simple reason is that it requires an act of Congress.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Is there a chance that the Magnitsky Act, I mean, Trump is his pal? Does that worry you? The closeness of the Trump administration to Putin?”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“That well, I have been convicted twice in Russian court and since to 18 years in prison. They've accused me of murdering Sergei Magnitsky and murdering four other individuals. They accuse me of being a spy, all sorts of stuff. I mean, it's basically, I know that I've gotten right under Vladimir Putin's skin by the amount of crazy allegations they've made against me. And in a certain way, I almost wear it as a badge of honor because If I wasn't being effective and they weren't feeling it, they probably wouldn't be doing all this crazy stuff.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“If they're going to kidnap me, they've gone after me using Interpol arrest warrants eight times. I was arrested in Madrid last summer on a Russian Interpol arrest warrant. I live in London, they've applied to the British government 12 times for mutual legal assistance and extradition”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Well, I mean, and he actually hadn't probably that was probably the high moment of the American Communist Party. It was, indeed. Because there was just such injustice where everybody was starving and a few people had everything. And so there's been this Know, I don't know whether it's genetic or cultural that sort of runs through our family where everybody's little brothers and sisters, everybody just feels like an immense sense of anger and injustice. And I don't know how you teach that. I don't know how it comes around.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“You know, a lot of people told me when all this stuff was happening, you know, I should just let it go. Go to ground, disappear, forget about it For me, I just wasn't able to do that. And I think that there's something, you know, we come from a long line of justice people. My grandfather, Josh's great-grandfather, is political philosophy. I don't agree with, but he was the head of the American Communist Party during the Great Depression. And that's a small.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“They can, yeah, right, exactly. But Bill, when you're talking about this idea of letting this stuff go, like, you know, and you could have let it go. You could have, you know, corruption is kind of like Putin and corruption and goes together like, you know, chocolate and peanut butter, essentially.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I know me too. I don't know about that. Yeah. So they're going to be all replaced by AI just in case you're interested.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Right. And do you imagine there should be other people making decisions at these companies that aren't necessarily, one of my things was you've got to have more different kinds, it can't be all run by engineers necessarily.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“But do you think that as an entrepreneur, right now the entrepreneur is, and you can't put everyone in a lump, but you really can. This is a very homogeneous group of people, like type of person, not necessarily, but it's certainly not as diverse as it needs to be. It's certainly not as thoughtful as it needs to be. How do you change that friends a young entrepreneur?”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“So, how do you think about that as an entrepreneur? Like, how can we create a class of entrepreneurs? That's why I wanted to talk to you. Is it young entrepreneurs that have a sense? One of the things I always say when I give speeches to young entrepreneurs is I said, imagine, and I've done this, it's not a joke, but it's a pretty good joke. I said, imagine that your invention is an episode of Black Mirror and then don't make it. Like, you know what I mean? If you can think of the most terrible thing, but they never think about that. I want to get into the mentality of creators. Like, how do you change that? You were trained at Stanford where a lot of entrepreneurs are trained. You're right in the heart of Silicon Valley. How do you change that dynamic among engineers to understand that one thing they could do could have an effect in Mianmar or blank, blank, you know, whatever it is?”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“So you're a different class than the Zuckerbergs and then even before that the Google guys and stuff like that. But there seems to be a change. It seems to me in Silicon Valley coming among entrepreneurs that they're thinking about the impact of what they do. Am I wrong about that? I just seem to be talking to a lot more entrepreneurs that have a sense of social commitment that has a sense of their impact, that have a sense of what they're inventing matters, like how they're inventing it matters.”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Well, it's been rotting for a long time. It has been. Let's be clear. So when you're thinking about these things, Josh, when you're as an entrepreneur now, one of the things that your dad's talking about is people that have created the internet that have gotten, I wouldn't say cynical, that don't care about consequences. Talk about being a young entrepreneur now. Do you think people, how old are you?”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT
“Symmetry Right, which they never could, which they actually never could. All you had to do is visit there to understand the difference”
2019-09-23 · Decoder with Nilay Patel · Recode Decode: Hermitage Capital CEO Bill Browder · IDENTIFIED FROM THE TRANSCRIPT