Nancy Pelosi called Zoom 'a Chinese entity,' but it's an American company with an American CEO [CNBC]
Cisco Systems, Inc. (CSCO)
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Source: CNBC
House Speaker Nancy Pelosi of California called Zoom "a Chinese entity" in a television interview, despite the company's roots in Silicon Valley. The remark lines up with some public criticism of Zoom after millions flocked to it to hold meetings virtually while staying home to avoid spreading the Covid-19 coronavirus. The surge of interest has sent company's stock higher while broader indices fell. But in recent weeks, Zoom has also dealt with security and privacy issues, including "Zoombombing," where intruders take over meetings and post offensive images, and the possible routing of some calls through servers in China, which the company now says was accidental. Pelosi's comments came after she was asked about the possibility of Congress voting remotely. "People think we can do Congress by Zoom. Zoom is a Chinese entity that we've been told not to even trust the security of," Pelosi said, according to a transcript of her conversation on Tuesday with MSNBC's Chris Hayes. "So there ar
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