Twitter’s Hack, Silicon Valley’s Changing Landscape
Motley Fool Hidden Gems Investing
The Motley Fool
4.3 • 3.1K Ratings
🗓️ 17 July 2020
⏱️ 39 minutes
🧾️ Download transcript
Summary
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Everybody needs money. That's why they call it money. |
| 0:07.0 | From full global headquarters, this is Motley Fool Money. |
| 0:19.0 | It's the Motley Fool Money Radio Show. I'm Chris L. Joining me this week, Andy Cross and Ron Gross. Good to see you, gentlemen. |
| 0:25.0 | How are you doing, Chris? |
| 0:27.0 | We've got the latest headlines from Wall Street. CNBC reporter Keith Rooney is our guest and as always, we've got a couple of stocks on our radar. |
| 0:35.0 | But we begin this week with Twitter. The FBI is investigating Wednesday's attack on Twitter's platform that involve hacking a number of high-profile accounts, including Elon Musk, Bill Gates, Jeff Bezos, and Joe Biden. |
| 0:48.0 | The hack was a scam to promote a cryptocurrency, but it has raised serious concerns around national security. |
| 0:55.0 | And Ron, there are a lot of questions yet to be answered, including a report by Vice that alleges that one or more Twitter employees were involved in this. |
| 1:09.0 | And just whether or not Twitter has a circuit breaker to deal with this sort of thing because this hack went on for hours. |
| 1:16.0 | Yeah, it looks like insiders that the company were potentially tricked into handing over access to internal systems, which is obviously a major internal flaw, whether they were involved on purpose or not. |
| 1:29.0 | Either way, a really large weakness that absolutely has to be corrected. You know, there are broader implications to this than just a Bitcoin scam, which is bad enough. |
| 1:40.0 | And if it looks like it may be 120,000 or so dollars were scammed from unsuspecting folks. But this is especially worrisome heading into the US presidential election, given that Twitter is so important to the discourse, the political discussion that goes on. |
| 1:56.0 | No matter which side of the aisle you stand on, I think we can all agree that this is a the mother of all elections coming up here. |
| 2:03.0 | And we need our information sources to be as pure as possible free from hacking, free from manipulation. |
| 2:11.0 | And right now it doesn't seem like that's that's the way it is. Andy, what do you think? |
| 2:16.0 | Yeah, I think the worry for me on this is the tactical approach they took. And it wasn't really widespread. |
| 2:23.0 | It wasn't like we've seen a lot of the other hacks across the system, the credit card companies we've seen, Home Depot, Target, the like. But it's much more specific. |
| 2:31.0 | And almost like a surgical strike against very specific targets and to Ron's point about the worries, about the discourse in our country. |
| 2:39.0 | Twitter is now becoming a platform. It's a major platform for communications across all board, whether you're a person, corporation, movie star, politician. |
| 2:48.0 | So the fact that the hackers, even though they just essentially was just a small amount of the ransom, but it was much more than messages sent. |
| 2:57.0 | So clearly Jack Dorsey who still is the heart and soul of Twitter and talked about this on his own feed and owns a good chunk of stock of this company still has a lot of this has to be. |
| 3:08.0 | Really one of the big concerns that in the boardroom about going into the election, but just in general because Twitter now is becoming so you pick with us as a platform of communication. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Motley Fool, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Motley Fool and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

