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another blow it's a big tech and it's again coming from the European Union now they have approved new copyright reform that charge you money for sharing videos that aren't yours not quite sure I understand that one let's bring in Thomas tatlin he knows what this is all about frequent guests on the program Tommy explain what the Europeans are doing and why it's so damaging great to be back on Stewart well this is years in the making the EU has updated a will shortly update copyright laws in Europe which haven't been updated for some 20 years and what they're trying to do here is level the playing field between big tech on the one hand who are taking all the advertising dollars and traditional media publishers on the other hand who complained that their content has been taken and monetized without them getting a fair share of the pie so this will affect people who have newspaper content video content whatever it might be and the idea is that if you're Google or Facebook you will now have to start licensing that content more effectively than you have been in the past it's not going to suddenly redress the balance completely I think traditional media companies will still face an uphill battle to reinvent themselves but it is a distinctive move to level the playing field from the EU does it change the basic business model of a Facebook or a Google I don't think it goes that flash juror I think what it does is make them have to do some fairly fiddly technical things to make sure that they are paying their fair share for the content that they're receiving it might mean for example on Google News who which your viewers will know well I'm sure that they may no longer be able to produce snippets of articles they might only be able to produce just links if they do produce those snippets they'll have to pay for them so it's it's marginal but what it is I think is really another indication that big tech is not too big to regulate a lot of people thought that last year we had the data protection regulation that important where they could charge for or fined four percent of a company's revenues if they breach data protection laws now we have this on copyright and it is a slow drumbeat of regulation that is getting ever louder and the stocks are down by the way I want to talk to you about lifts their IPO slated this for this Friday going public you can buy stock in in lift if that's what you want this Friday and I think you're hot on this you say could kick off one of quote the greatest years in tech history now that's quite a statement go for it well I think I think that's what we might be seeing here you know a lot of people thought that have all these big tech companies stay private too long they've missed the bull market are we heading for a recession well as we've seen in an amazing start to the era in the public markets and I think all we need is one of these big tech IPOs to go off well starting with lyft this week perhaps and then there are so many others there are literally there is hundreds of billions of dollars of public market cap that could be created this year when you take into account lyft uber Pinterest and Palantir you know the list goes on and I think markets are looking for a signal to say these things haven't been overpriced by the private markets one will go well in the public markets the rest will follow of confidence so it really could be a bumper year for technology this year oh that's very exciting actually we like a little excitement in this marketplace Tommy thanks for joining us always a pleasure thanks very much indeed sir got it