>> FROM THE HEART OF OUR
INNOVATION, MONEY AND POWER COMBINE, THIS IS BLOOMBERG
TECHNOLOGY WITH CAROLINE HYDE AND ED LUDLOW. CAROLINE: I'M CAROLINE HYDE FROM
BLOOMBERG'S WORLD HEADQUARTERS IN NEW YORK. ED:
AND I'M ED LUDLOW IN SAN FRANCISCO. CAROLINE: NVIDIA IS ALREADY UNVEILING NEW
CHIPS AT THE ANNUAL TECH EVENT. DETAILS ON THE COMPANY'S AI
AMBITIONS. ED: ELON MUSK'S REPORTED DRUG USE
IS A NEW SOURCE OF HEADACHES FOR THE BOARDS OF TESLA AND X.
CAROLINE: INSTACART WILL BEGIN SHOWING
ADVERTISEMEN
TS ON ITS HIGH-TECH SHOPPING CARTS.
IN THE LATEST ADDITION TO THE COMPANY'S GROWING BUSINESS, OUR
INTERVIEW WITH CEO FIDJI SIMO. LOOKING AT THE STOCK MARKET, WE
HAD SOME TENTATIVE GAINS IN THE NASDAQ FRIDAY WITH THAT MIXED
DATA ON THE JOBS FRONT BUT RIGHT NOW WE SEE THE BEST DATA
SINCE DECEMBER 21. JP MORGAN SAYING AFTER A BIT OF
A SELLOFF, WE ARE LIKELY TO SEE SOME BUYING.
IT IS INTERESTING WE GET THIS UPLIFT IN STOCK BUYING IN THE
U.S. WHEN GLOBALLY THAT WAS NOT THE
CASE, PARTICULARLY IN ASIA.
EVEN WITH CHINA LOOKING TO
STIMULATE ITS ECONOMY AND ALLOWING BANKS TO LEND MORE, WE
ARE STILL DOWN ON THE NASDAQ ALDEN DRAGON INDEX.
CLEARLY THIS ISN'T A GLOBAL RALLY.
WE ARE GOING TO GO INTO THE NUANCES OF WHAT IS DRIVING US
AND ALSO WHAT IS ON THE DOWNSIDE. BOEING IS THE.
KEY CONVERSATION WITH THAT. AT THE WORLD OF CRYPTO.
STILL SEEING THE ANTICIPATION IS THERE.
WILL JANUARY THE 10TH OR EARLIER -- WE STILL MANAGE TO
RALLY UP 1.6%. WHAT ARE YOU WATCHING ON THE
MICRO? ED: A HUGE NEWS CYCLE. BO
EING CLEARLY DOMINATES.
THE STOCK IS DOWN 6.6% AFTER A PARTIAL GROUNDING OF THE 737
MAX NINE GLOBALLY. WE ARE GOING TO BRING YOU A
UNIQUE TECHNOLOGY STORY RELATED TO WHAT HAPPENED OVER THE
WEEKEND. APPLE IS HIGHER 1.5%. THE VISION PRO MIXED REALITY
HEADSET WILL GO ON SALE FEBRUARY 2.
WILL HAVE MORE DETAILS LATER IN THE SHOW. TESLA HIGHER. THE WALL STREET JOURNAL
REPORTING HISTORIC DRUG USE BY ELON MUSK THAT IS WORRYING
BOARD MEMBERS AND STAFF AT TESLA AND SPACEX. OUR NEXT GUEST IS GOING TO
BREAK
DOWN A COMPLICATED STORY. IF TESLA IS THE PROXY FOR ELON
MUSK SENTIMENT, IT IS HIGHER BY 6/10 OF 1%.
LOOK PARTICULARLY AT NVIDIA. UP ALMOST 5% BUT SEMICONDUCTORS
HAVING A PRETTY GOOD MORNING. THE STOCK WAS PRETTY DOWN
TRODDEN IN THE FINAL DAYS OF 2023.
IN THE LAST HOUR, SOME NEWS. NVIDIA ANNOUNCED
THE PERSONAL COMPUTER INDUSTRY LURE NEW CONSUMERS WITH AI PCS
MAKING BETTER USE ON PERSONAL MACHINES.
I WANT TO BRING IN IAN KING WHO HAS BEEN TRACKING THIS --
TRACKING THE KEYNOTE AT CES. IAN:
THESE
ARE JUST UPDATES TO THEIR EXISTING RANGE OF CHIPS.
IT HAS PUT IN A FEW MORE NEW COMPONENTS THAT ARE GOING TO
HELP WITH THE AI PROCESSING. SOME NEW CORES, BETTER MEMORY
BANDWIDTH. ALSO ADJUSTING PRICES, MAKING
THEM MORE ATTRACTIVE AS WELL. CAROLINE:
JUST AN UPDATE, YET THE STOCK RALLY IS HARD.
BACK AT AN ALL-TIME HIGH FOR NVIDIA SHARES. THE BEST DAY SINCE AUGUST 21,
2023. IS IT JUST THAT WE NEEDED A
SHIFT, THAT AI IS EVERYTHING TO THIS PARTICULAR COMPANY? IAN:
I THINK THE LAST THING YOU SAID IS T
HE ANSWER.
CLEARLY AI HAS BEEN ENORMOUS BENEFIT FOR THIS COMPANY
ALREADY. IT HAS PROVEN THAT THIS IS
REAL, THIS IS ABOUT ACTUAL SALES AND EMPLOYMENT.
NVIDIA COMES OUT AND SAYS DON'T FORGET ABOUT US, HERE IS AN AI
PC THAT INTEL AND AMD HAS BEEN TALKING ABOUT, WE CAN DO THIS
BETTER. IT IS LIKELY TO PRESS THE RIGHT
KIND OF BUTTON WITH INVESTORS. ED:
IT IS INTERESTING, THE TIMING. THE STORY WITH NVIDIA WAS THE H
100, A GPU THAT GOES INTO A SERVER THAT GOES INTO A SERVER
AND YOU BUILD YOUR LARGE LANG
UAGE MODELS.
THIS SEEMS LIKE NVIDIA REMINDING EVERYONE, WE ARE
ACTUALLY PRETTY GOOD AT PCS. IS IT GOING TO BE AN IMPORTANT
BUSINESS FOR THEM? IAN: UP UNTIL ABOUT A YEAR AGO, IT
WAS THE BIGGEST, THE ONE THING WE TALKED ABOUT.
GEFORCE WAS WHAT WE TALKED ABOUT. IT IS GOING TO STAY AN
IMPORTANT BUSINESS FOR THEM. RIGHT NOW, ALL THE PROPHETS AND
MAJOR GAINS ARE FROM THE DATA CENTER BUT OF COURSE THEY USED
TO OPEN CES EVERY YEAR WITH THIS BRIGHT NEW SHINY THING AND
THIS IS THEM REMINDING PEOPLE THAT T
HEY STILL CAN. ED:
MAYBE I AM READING TOO MUCH INTO IT.
LAST YEAR PART OF THE STORY WAS THE LEATHER JACKET WEARING NEXT ELON MUSK TYPE, THOUGH MAYBE
TODAY WE WON'T MAKE THAT COMPARISON.
THE MOMENTUM HASN'T REALLY STOPPED. THE STOCK IS AT A FRESH RECORD
HIGH. WHAT IS THE STORY FROM NVIDIA
GOING INTO 2024? IAN: THEY HAVE A WHOLE HOST OF NEW
PRODUCTS WHICH WE SAW SOME OF ANNOUNCED TODAY.
WE ARE ACTUALLY GOING TO SPEED UP THE CADENCE OF NEW PRODUCTS
THAT WE ANNOUNCE. THE STORY IS, WILL THAT CADENCE
KEEP THEM AHEAD OF WHAT INTEL AND AMD AND EVERYONE ELSE SAYS
THEY ARE GOING TO DO IN THAT SPACE?
CAN THEY KEEP THEMSELVES THE MUST-HAVE TECHNOLOGY PROVIDER
FOR THAT PARTICULAR AREA? CAROLINE: MORE THAN $1 TRILLION
VALUATION, SO FOR NOW, INVESTORS STILL REMAIN PLEASED
WITH NVIDIA. IAN KING, WE ASK -- WE
APPRECIATE YOU BREAKING IT DOWN. THE OVERALL VALUE OF GENERATIVE
AI, NOT JUST COMPANIES BUT THE ECONOMY MORE BROADLY AND OUT
WILL BE INTERWEAVE INTO PRE-MUCH EVERY SINGLE INDUSTRY
GROUP. PAUL, YOU
HAVE DONE THE
NUMBERS, YOU HAVE CRUNCHED THEM. I WANT TO GO INTO HOW YOU GET
THE NUMBERS BUT TALK TO US ABOUT WHAT IMPACT YOU THINK
GENERATIVE AI'S GOING TO HAVE. PAUL: AI IS THE THEME HERE. OUR ROLE IN THIS IS WE HELP
COMPANIES DEPLOY TECHNOLOGY SOLUTIONS AND GENERATIVE AI IS
THE HOT TICKET RIGHT NOW. 95% OF EXECUTIVES TELL US
THEY'RE GOING TO INCREASE SPENDING ON TECHNOLOGY AS THEY
GO INTO 2024. 97% OF EXECUTIVES BELIEVE
GENERATIVE AI IS TRANSFORMATIVE FOR THE BUSINESS THEY ARE DOING.
THE BAS
IC RESEARCH WE HAVE DONE, WE SEE THAT IMPACTING 44%
OF ALL OF THE WORKING HOURS ACROSS INDUSTRIES GLOBALLY AND
THAT ADDS UP TO ABOUT $10 TRILLION OF ECONOMIC VALUE OVER
THE NEXT SEVERAL YEARS AS COMPANIES ADOPT GENERATIVE AI. THIS IS VERY MUCH A WAVE DRIVEN
INDUSTRY AS YOU KNOW. THIS IS THE BIGGEST ONE I
BELIEVE, AND TERMS OF THE TRANSFORMATION IT WILL DRIVE
FOR US AS INDIVIDUALS IN TERMS OF HOW WE WORK AND LIVE AND
BUSINESSES AND HOW THEY DRIVE TECHNOLOGY FORWARD. CAROLINE:
$8 TRILLION TO $10 T
RILLION. HOW DOES THAT ASSERT ITSELF? IS IT BY FREEING UP INDIVIDUALS?
IS IT ABOUT THE ABILITY TO PRESERVE THE BOTTOM LINE FOR
COMPANIES DOING MORE WITH LESS? WHAT DRIVES THAT MONEY? PAUL:
THAT IS THE EXCITING THING ABOUT GENERATIVE AI.
WE TALK ABOUT THIS AS AN INFLECTION POINT IN THE NATURE
OF TECHNOLOGY. TECHNOLOGY HAS BEEN THE NUTS
AND BOLTS OF THE PLUMBING, THE CLOUD, PCS AND SUCH, THE
INFRASTRUCTURE. AI IS ABOUT HUMAN KEEP ABILITY,
SEEING TECHNOLOGY THAT DOES THINGS KIND OF LIKE WHAT WE DO
AND THAT IS WHY IT IS SO TRANSFORMATIVE.
IT'S ABOUT PRODUCTIVITY AS YOU SAID. IT DOES DRIVE TREMENDOUS
PRODUCTIVITY, FOR EXAMPLE IN A LARGE TELECOMMUTE OCCASIONS
ORGANIZATION, WE APPLIED GENERATIVE AI IN CUSTOMER
SERVICE WITH A 60% INCREASE IN CUSTOMER SATISFACTION AS A
RESULT. IT IS ABOUT PRODUCTIVITY AND
THE OUTCOMES AS WELL. THE INTERESTING THING IS IT CAN
ALSO DRIVE CREATIVITY AND NEW WAYS OF DOING THINGS.
USING IT IN OUR DIGITAL AGENCY BUSINESS TO CREATE NEW
ADVERTISING CAMPAIGNS, MORE PERS
ONALIZED. ONE FINAL REALLY GOOD BENEFIT
OF GENERATIVE AI IS THE BENEFIT FOR THE INDIVIDUAL.
WE DIDN'T IMPLEMENTATION FOR OUR SALES ORGANIZATION, A PILOT
OF GENERATIVE AI AND ONE OF THE FINDINGS WAS IT PRODUCED BETTER
RESULTS AND BETTER PRODUCTIVITY, BUT IT ALSO
INCREASE PEOPLE'S SATISFACTION AND THEIR FEELING OF BALANCE OF
THE WORK THEY WERE DOING BECAUSE IT TOOK AWAY SOME OF
THE TASKS THEY DID NOT WANT TO DO.
A LOT OF THIS IS IN THE EARLY STAGES BUT A LOT TO LOOK
FORWARD TO. CAROLINE: THAT SORT
OF GOES COUNTERWEIGHT
TO SOME OF THE ANXIETY I THINK THAT HAS BEEN ACROSS MANY
INDUSTRY GROUPS AND I THINK CONSULTANTS AND LAWYERS ABOUT
WHAT IT MEANS ABOUT WHITE-COLLAR JOBS IN THE FUTURE.
DO YOU THINK IT WILL ERODE JOBS? PAUL:
IT IS GOING TO CHANGE JOBS, THAT IS THE WAY TO THINK ABOUT
IT. IT'S NOT ABOUT AI TAKING AWAY
JOBS. WE HAVE THAT NARRATIVE WRONG, A
FEAR ABOUT AI COMING FOR ALL THE JOBS AND THAT IS KIND OF
BACKWARDS. IT'S ABOUT HOW WE CAN ENHANCE
BUT WE AS PEOPLE DO IN HOW WE DO THINGS.
WE TALK ABOUT THINGS LIKE HUMAN IN THE LOOP JOBS.
IT'S ABOUT HOW CAN A PERSON HAVE A WING MAN TO HELP THEM BE
MORE PRODUCTIVE? I THINK THE KEY THING IS HOW DO
YOU BRING ALONG YOUR WORKFORCE THAT THEY ARE ABLE TO USE THESE
TOOLS? HOW DOES A CUSTOMER SERVICE
AGENT DO THEIR JOB? ANOTHER EXAMPLE IN THE ENERGY
INDUSTRY, WE HAVE DEPLOYED GENERATIVE AI AS A SAFETY
ASSISTANT TO HELP PEOPLE DO THEIR WORK MORE SAFELY, MORE
COGNIZANT OF THEIR OWN PERSONAL SAFETY.
THESE TYPES OF THINGS ARE GOING TO HELP PE
OPLE AND MAKE JOBS
MORE INTERESTING AND ONE PIECE OF DATA FROM RESEARCH WE ARE
RELEASING RIGHT NOW TALKS ABOUT THE FACT THAT 95% OF WORKERS
ARE EXCITED ABOUT HOW GENERATIVE AI CAN CHASE THE
NATURE -- CHANGE THE NATURE OF THE WORK THEY ARE DOING. ED:
I'M JUMPING ON A PLANE VERY SOON TO HEAD TO VEGAS TO JOIN
YOU. AI IS THOROUGHLY LEE -- IS CLEARLY THE OVERARCHING THEME. ACROSS HEALTH CARE AUTOMOTIVE,
SOFTWARE, CONSUMER ELECTRONICS, BIG-BOX RETAIL, MARKETS, AND
TERMS OF THE SPEAKERS. GIVE ME ONE EX
AMPLE OF A THING
YOU THINK HAS THE MOST SUBSTANCE COMING OUT OF CES
THIS YEAR. PAUL: THE THING THAT IS REALLY
EXCITING IS, IT SHIPPED FROM A YEAR OF
EXPERIMENTATION AND EDUCATION AROUND AI MOVING INTO 2024 AS
THE YEAR WHEN COMPANIES LOOK TO DRIVE VALUE AT SCALE WITH IT.
THAT IS WHY YOU SEE THE SENIOR EXECUTIVES FROM WALMART AND
BEST BUY AND OTHER COMPANIES, TALKING HERE.
IT IS ABOUT THAT SHIFT TO VALUE AND DRIVING VALUE AND THAT IS
WHY YOU WILL START TO SEE CES AT THE CONVERGENCE, SHOWING
THOUSA
NDS OF COMPANIES WITH INNOVATIONS AROUND THESE
TECHNOLOGIES AND ORGANIZATIONS UNDERSTANDING HOW THEY USE THAT
TO TRANSFORM, AND THAT IS THE INTERESTING POINT AROUND CES
THIS YEAR. ED: I WILL SEE YOU OUT THERE.
THANK YOU FOR YOUR TIME. CAROLINE: MORE COMING UP.
INSTACART EXPANDING THEIR AD BUSINESS WITH HIGH-TECH
SHOPPING CARTS. THAT'S GOING TO BE AVAILABLE TO
INTERACT WITH AT CES. MEANWHILE LET'S LOOK AT THE
SHARES OF WHAT IS HAPPENING WITH APPLE.
WE KNOW IT IS KEY WHEN IT COMES TO DRIVING THE P
OINTS MOVE ON
SOME OF THESE KEY BENCHMARKS AND A BIT OF A BOUNCE BACK ON
APPLE TODAY, AT 1.8%. VISION PRO GOES ON SALE
FEBRUARY 2. BLOOMBERG INTELLIGENCE APP HAD
A GREAT PIECE ON THE ADDITION YOU WILL GET IN SALES INCREASE,
$1.75 BILLION TO BE ADDED TO ANNUAL REVENUE.
IT IS NOT NEARLY ENOUGH TO MAKE UP FOR CONSUMER WEAKNESS GOING
ON IN CHINA AND THAT IS WHAT JEFFREY'S HIGHLIGHTS TODAY. SALES IN CHINA FELL 30%
ACCORDING TO THEIR NUMBERS. THIS IS BLOOMBERG TECHNOLOGY. CAROLINE:
-- GROWING ADDS BUS
INESS AND A SIGN OF INVESTMENT PRODUCTS
OUTSIDE OF GROCERY DELIVERY. WE SAT DOWN FOR A CONVERSATION
ABOUT IT WITH FIDJI SIMO. TAKE A LISTEN. FIDJI:
WE HAVE A LOT OF INTEREST FROM RETAILERS. NOW YOU CAN SEE -- GOOD FOR THE HOLDING, AND MANY MORE, FROM --
AND WE THINK IN 2024 WE WILL HAVE MORE DEPLOYED.
THE REASON THEY ARE EXCITED TO DEPLOY IS BECAUSE CUSTOMERS
LOVE THEM. WE HEAR OVER AND OVER FROM
CUSTOMERS HOW FUN THE SHOPPING JOURNEY BECOMES WHEN YOU'RE
USING INSTACART AND HOW CONVENIENT IT IS.
CAROLINE:
FUTURE FOR U.S. SHOPPING, HOW INTERNATIONAL
COULD THIS GET? YOU ARE SOMEONE WHO IS FRENCH
AND I KNOW THERE IS ALREADY EXPOSURE IN SPAIN AND FRANCE.
FIDJI: WE CERTAINLY WANT TO MAKE THAT
SOMETHING THAT IS INTERNATIONAL AS WELL WHAT WE ARE VERY
FOCUSED ON THE U.S. BECAUSE IT IS OUR CORE MARKET
BUT WE DO HAVE INTERESTS FROM INTERNATIONAL RETAILERS AS WELL
. CAROLINE: FOR THE DIRECTION OF TRAVEL FOR
INSTACART BECAUSE IS THIS TRYING TO ENSURE THAT YOU ARE
NOT JUST PURELY AN ONLINE PLAYER F
OR RETAILERS, CONSUMERS
BUT ALSO HAVE MANAGED TO DRAW IN HIGHER MARGINS THROUGH
ADVERTISING. HOW MUCH ARE YOU TRYING TO
BROADEN OUT WHAT INSTACART REALLY IS TO AN INVESTOR AND
INDEED THE RETAILER AND CONSUMER? FIDJI:
WHEN I JOINED INSTACART, TO ME IT WAS OBVIOUS THAT WE NEEDED
TO HURRY UP. WE WERE ALREADY A COMPANY THAT
WAS BUILDING TECHNOLOGY TO HELP RETAILERS WITH THE BIG DIGITAL
TRANSFORMATION IT WAS HAPPENING, DOING THAT PRIMARILY
THROUGH E-COMMERCE. WE ARE REALLY SPENDING TO BUILD
TECHNOLOG
Y BECAUSE WHAT WE BELIEVE IS THAT CUSTOMERS ARE
NOT GOING TO SHOP JUST ONLINE OR JUST IN STORES.
THEY WILL SHOP ON THE CHANNELS AND RETAILERS WHO REALLY CREATE
A SEAMLESS OMNI-CHANNEL EXPERIENCE ARE THE ONES WHO ARE
-- AND INSTACART IS GIVING THEM THIS EDGE. CAROLINE:
DOESN'T GIVE YOU AN EDGE VERSUS WHO ANALYSTS WOULD SAY ARE YOUR
COMPETITORS? THERE WAS WORRY FROM SOME THAT
UBER, DOORDASH ARE GOING TO EAT IN ON SOME OF YOUR MARKET SHARE
AND THAT WALMART AND AMAZON ARE SO GOOD AT OMNI-CHANNEL.
HO
W DOES THIS CARVE YOU A NICHE? FIDJI:
WE ALREADY ARE THE LEADING CATEGORY IN GROCERY DELIVERY,
AND HERE LIKE THIS LAUNCH, IT REALLY PROVES THAT WE HAVE A
DIFFERENT STRATEGY FROM THESE PLAYERS.
I WAS STRATEGY IS TO ENABLE RETAILERS WITH ALL OF THE
TECHNOLOGIES THEY NEED TO RUN THEIR BUSINESS AND THAT APPLIES
ONLINE AND THAT IS WHY WE HAVE THE VASTER MAJORITY OF
RETAILERS ON OUR PLATFORM, WELL ABOVE ANY COMPETITOR BUT ALSO
HOPING -- HELPING THEM WITH CREATING A NEW REVENUE LINE
BECAUSE AS RELAUNCH
ADVERTISING, WE ARE SHARING
REVENUE WITH RETAILERS AND THEREFORE HELPING THEM GROW
THEIR BUSINESS BOTH ONLINE AND IN-STORE.
THAT IS A COMPLETE DIFFERENCE OR TO G FROM SOME OF THE MARKET
PLAYERS YOU MENTIONED, WHERE THE MARKET PLACES ARE REALLY
JUST ABOUT GROWING THEIR MARKETPLACE AND IN SOME CASES
EVEN COMPETING WITH RETAILERS. WE DON'T DO THAT.
WE ENABLE RETAILERS. CAROLINE: FIDJI SIMO OF INSTACART. CURRENTLY UP TO .3% ON THE
TRADING DAY AT THE MOMENT -- CURRENTLY UP 2.3% ON THE
TRADING DAY AT
THE MOMENT. ED: ELON MUSK'S REPORTED DRUG USE
HAS TELLS THE BOARD MEMBERS COULDN'T -- CONCERNED.
ALSO CHECKING IN ON SHARES OF TWILIO.
CURRENTLY UP FOR THEIR BIGGEST JUMP SINCE JULY. THERE CEO IS STEPPING DOWN FROM
THAT'S COMPANY WHICH HE COFOUNDED.
THEY ARE FACING SLOWING SALES GROWTH AND PRESSURE FROM
ACTIVIST INVESTORS. WE LOOK AT THE FULL PICTURE ON
THAT STORY LATER IN THE HOUR BUT CLEARLY A POSITIVE IN -- A
POSITIVE REACTION FROM INVESTORS.
THIS IS BLOOMBERG TECHNOLOGY. ED: TIME FOR TALKIN
G TECH.
SONY PLANNING TO CALL OFF ITS $10 BILLION MERGER PACKED WITH
ITS INDIA UNIT, ACCORDING TO SOURCES.
THE MOVE CAP'S TWO YEARS OF DRAMA AND DELAY IN CREATING A
$10 BILLION MEDIA GIANT AND THE STANDOFF HAS BEEN OVER WHETHER
-- THE CEO WOULD LEAVE THE MERGED ENTITY.
MICROSOFT HAS PICKED LONGTIME EXECUTIVE D TEMPLETON JOINT
OPENAI'S BOARD AS A NONVOTING OBSERVER ACCORDING TO BLOOMBERG
SOURCES. TEMPLETON HAS WORKED AT MICROSOFT FOR MORE THAN 25
YEARS AND IS THE COMPANY'S VICE PRESIDENT FOR TECH
NOLOGY AND
RESEARCH PARTNERSHIPS AND OPERATIONS.
ELON MUSK'S REPORTED DRUG USE BY THE WALL STREET JOURNAL IS
WORRYING TESLA AND SPACEX BOARD MEMBERS.
WALL STREET JOURNAL CITED ANONYMOUS SOURCES AND WITNESSES.
NOW THEY HAVE A BIG DECISION, WHETHER TO DO ANYTHING ABOUT IT
WITH ELON MUSK AND THE FINANCIAL OR LEGAL RISK THAT
REPORTING COULD POSE TO THOSE COMPANIES. CAROLINE:
LET'S DIVE DEEPER INTO THAT STORY. DEEP -- THESE ARE SERIOUS
ALLEGATIONS AND THE QUANDARY LEFT OF THE BOARD MEMBERS, IT
IS A F
AILURE ONE, WHAT TO DO IF ANYTHING ABOUT MUSK, ABOUT
LEGAL AND FINANCIAL REPERCUSSIONS AND WHAT IT MEANS
FOR HIS COMPANIES HE MANAGES. WE ARE PLEASED TO HAVE, ONE OF
THE MEMBERS OF THE ELON. MUSK PODCAST REPORTS BY THE
JOURNAL THAT MUSK HAS BEEN USING LSD, COCAINE, PSYCHEDELIC
MUSHROOMS. ELON MUSK HIMSELF HAS COME OUT ON HIS OWN SOCIAL
MEDIA PLATFORM. WHAT DO YOU SAY? >> HE SORT OF SWUNG IN VARIOUS
DIRECTIONS AND SOMETIMES HE SAID WHATEVER I'M TAKING, I
SHOULD CONTINUE TAKING IT, BASICALLY POINT
ING TO THE
PERFORMANCE, AND ALSO THE FACT THAT A LOT OF THE STUFF OR SOME
OF IT HAS HAPPENED MORE OR LESS IN THE OPEN.
HE SMOKED MARIJUANA ON JOE ROGAN'S PODCAST. HE HAS SAID HE
HAS A PRESCRIPTION FOR KETAMINE, WHICH WE KNOW IS A
PARTY DRUG. HE HAS ALSO SAID THAT SPACEX
HAS BEEN REQUIRED TO DRUG TEST HIM AS PART OF THE JOE ROGAN
FALLOUT. HE SAID HE HAS NEVER FAILED A
DRUG TEST. HE IS SORT OF ESSENTIALLY SAYING NUMBER ONE,
THIS IS OVERBLOWN, NUMBER TWO, THE COMPANIES ARE DOING GREAT
SO WHAT IS TH
E BIG DEAL? ED: THE THING IS, THAT EITHER THE
WALL STREET JOURNAL REPORT IS ACCURATE, CITING ANONYMOUS
SOURCES, OR IT'S NOT. THIS IS THE POST-E CAUGHT MY
EYE, ELON MUSK SAYING FOLLOWING THAT JOE ROGAN APPEARANCE, AT
NASA'S REQUEST, HE AGREED TO RANDOM DRUG TESTING OVER A
PERIOD OF THREE YEARS. WE'VE ASKED FOR COMMENT FROM
NASA AND SPACEX BUT IF THE DRUG TESTING TOOK PLACE, WE WOULD
HAVE MORE TO GO ON WITH THIS STORY. >> THE JOURNAL ARTICLE MENTIONS
THE FACT THAT HE WAS DRUG TESTED.
ALSO NOTING T
HAT SOME OF THE DRUGS THEY ARE TALKING ABOUT
ARE NOT TRADITIONALLY IN THAT KIND OF DRUG TEST. WE ARE
TALKING ABOUT PSYCHEDELICS, THAT IS THE ALLEGATION.
IN ADDITION TO SOME OF THE THINGS THAT CAROLYN JUST
MENTIONED. -- CAROLINE JUST MENTIONED.
IT IS NOT CLEAR WHAT HE WOULD TEST POSITIVE FOR AND IT IS NOT
SURPRISING HE HAS BEEN DRUG TESTED BECAUSE A LOT OF
GOVERNMENT CONTRACTORS DRUG TEST EMPLOYEES. CAROLINE:
THIS COMES DOWN TO ULTIMATELY A BOARD, WHO SOME WORRY ARE JUST
TOO CLOSE TO HIM. >> WITH
ELON MUSK, THERE IS THE
CONVERSATION AROUND DRUG TESTS AND THEN THERE IS THE BIGGER
CONVERSATION AROUND THE ERRATIC BEHAVIOR.
SOMETIMES WE ARE TALKING ABOUT DRUGS AND SPEAKING ABOUT THE
FACT THAT HE TWEETS WEIRD STUFF IN THE MIDDLE OF THE NIGHT.
I THINK IN GENERAL, AS LONG AS THE COMPANIES HAVE DONE WELL,
THE BOARDS HAVE BEEN OK WITH IT. INVESTORS HAVE BEEN OK WITH IT
AND THE QUESTION IS WIND HAS THE OR SPACEX HITS A ROUGH
PATCH, WHAT HAPPENS THEN? IF AND WHEN THAT HAPPENS,
THAT'LL BE WHEN THE
RUBBER MEETS THE ROAD. ED:
AND IT IS NOT CONCERNING TESLA INVESTORS RIGHT NOW.
THANK YOU VERY MUCH. COMING UP HERE ON BLOOMBERG
TECHNOLOGY, HOPEFULS RUSH TO FILE THEIR FINAL DOCUMENTS WITH
U.S. REGULATORS. KEY DIFFERENCES EMERGING AMONG
APPLICANTS IN THEIR PROPOSED FEE STRUCTURES.
WE WILL DO A DEEP DIVE ON THAT, NEXT.
THIS IS BLOOMBERG TECHNOLOGY. ED: WELCOME BACK TO BLOOMBERG
TECHNOLOGY. ED LUDLOW HERE IN SAN FRANCISCO.
CAROLINE: CAROLINE HYNDE IN NEW YORK --
CAROLINE HYDE IN NEW YORK. A BIT OF
A RALLY ACROSS THE
UNITED STATES. LET'S TAKE INTO WHAT IS
HAPPENING WITH NVIDIA. A RECORD HIGH, ADDING TO THE
NASDAQ 500 -- AT -- ADDING TO THE NASDAQ 100.
THE MARKET LIKES IT AHEAD OF CES. IN THE WORLD OF TWILIO, ALSO
RIDING HIGH AFTER THE CEO HAD TO MOVE STAGE LEFT. PEOPLE FELT HE WAS TOO
SYNONYMOUS WITH JUST SPENDING TOO MUCH BUT HIS RIGHT-HAND MAN
FOR THE PAST FEW YEARS IS BASICALLY TAKING OVER.
MANY QUESTIONING WHETHER THAT WILL EXERT ANY CHANGE IN
LEADERSHIP. APPLE ON THE UPSIDE AS WELL
A
FTER FIVE STRAIGHT DAYS OF LOSSES.
APPLE MANAGED TO REGAIN SOME GROUND.
ALSO AN EXTRAORDINARY STORY REGARDING THE IPHONE AND HOW
THAT HAS BEEN ENTANGLED WITH THE DISASTER ON THAT NO 737 MAX
NINE. LITTLE ON A DAY THAT JEFFREY'S
ANALYSTS ARE SAYING THEY COULD SEE A SELLOFF IN TERMS OF
REVENUE AND CONSUMER DEMAND, 30% YEAR ON YEAR IN CHINA.
LET'S LOOK AT SOME OF THE BIG BENCHMARKS IN TERMS OF MOOD
MUSIC BECAUSE WE ARE RIDING HIGH. BITCOIN, UP 2.4%. WE ARE BACK ABOUT $45,000 --
BACK ABOVE $45,000. E
D: BITCOIN SPOT ETF WATCHED DAY, I
DON'T KNOW WHICH DAY. BLACKROCK, SEVERAL PERSPECTIVE
ISSUERS OF ETF'S FILED AMENDED FORMS THIS MORNING IN WHAT WAS
SEEN BY ANALYSTS TO BE A FINAL PUSH.
JOINING US NOW IS THE COFOUNDER AND CEO OF -- THAT OFFERS
SOFTWARE TOOLS THAT ALLOWS USERS TO MANAGE THEIR CRYPTO
PORTFOLIO BUT ALSO USE NEW CRYPTO PRODUCTS.
YOU'RE WATCHING THIS CLOSELY. IT WILL IMPACT YOUR BUSINESS
AND YOUR WORLD. THAT NEWS, THE UPDATED FORMS.
WE HAVE MORE ISSUE -- MORE UPDATES ON FEE STRUCTUR
E.
IT SEEMS LIKE THE WEIGHT MIGHT SOON BE OVER. >> WE'VE BEEN WAITING FOR FIVE
YEARS. WE'RE GETTING CLOSE. IT IS GOING TO HAPPEN.
THE QUESTION IS WIND AS IT GOES LIVE? DOES S.E.C.
DELAY THE FILING? I DON'T THINK SO.
I THINK THEY ARE BACK AGAINST THE WALL.
YOU'LL WILL SEE THE ETF GO LIVE Q1, Q2 MAYBE. MAYBE THEY WILL GIVE US THE
BITCOIN ETF BUT NOT THE OTHERS. THEY'VE ALREADY SAID THAT
BITCOIN IS DEFINITELY NOT A SECURITY. ED:
YOU'VE BEEN WAITING FIVE YEARS. OTHERS IN THE MARKET HAVE BEEN
WAITING
MUCH LONGER. THE OTHER KIND OF DATA WE ARE
GETTING NOW IS THE PROPOSED FEE STRUCTURE.
YOU THINK ABOUT BELUGA AND YOUR CUSTOMERS ACCESSING WHAT IS A
NEW PRODUCT IN THE MARKET. WHY IS THE FEE STRUCTURE OR FEE
PROPOSED BY THE ISSUERS IMPORTANT? >> I DON'T THINK THE FEES ARE
GOING TO BE AS SUPER IMPORTANT AS OTHERS THINK. PENSIONS FUND -- PENSION FUNDS,
LIKE BLACKROCK AND THE TRADITIONAL BIG ONES.
IT IS A SMALL -- THAT ALREADY HAD ACCESS WHICH HAD A MUCH
HIGHER FEE ZONE THEN WHAT WAS PROPOSED.
MORE
RETAIL INVESTORS WILL GO INTO THE SMALLER FEED ONES
WHERE THE BLACK ROCKS WILL GET THE HIGHER BIG INSTITUTIONAL
INVESTORS. CAROLINE: WHAT IS INTERESTING IS MANY
WOULD SAY THEY DON'T WANT TO MAKE -- THEY DON'T WANT TO MAKE
KINGMAKERS. THEY ARE TRYING TO ENSURE THAT
THIS IS GOING TO BE A BIT OF A RACE TO MARKETING, TO ENSURE
THAT YOU GET YOUR NAME OUT THERE, ASSOCIATED WITH THE SPOT
BITCOIN ETF. HAVE YOU PUT MUCH RESEARCH INTO
IT? HOW MUCH OF A CHANGE DOES THIS
MAKE TO THE ABILITY TO INTERACT WIT
H BITCOIN? >> IT IS GOING TO BE PRETTY
EXCITING. EVERYTHING RELATES BACK TO WHAT
WAS GOING ON WITH THE BITCOIN ETF. HUGE BUYING PRESSURE COULD
HAPPEN IN THE CRYPTO SPACE. THERE IS THE INSTITUTIONAL
FAMILY OFFICE. THEY ARE NOT GOING TO PUT 10%
OF THEIR MONEY INTO THESE BITCOIN ETF'S BUT MAYBE 2%,
WHICH IS A LOT WHEN YOU THINK ABOUT IT.
THERE IS ONLY 19 BILLION BITCOIN IN EXISTENCE.
IT IS A FINE EXPERIAN -- FINITE RESOURCE.
INCREASED BUYING PRESSURE UNLIKE ANYTHING WE HAVE SEEN
BEFORE IN CRYPTO, A
LONG WITH LOWER INTEREST RATES BY THE END
OF THE YEAR, YOU HAVE A PERFECT STORM THAT WE THINK COULD BE A
PRICE CATALYST TO GET BITCOIN OVER $100,000 BY THE END OF THE
YEAR. CAROLINE: WHEN YOU READ BETWEEN THE
LINES, IT FEELS LIKE GARY GENSLER REALLY DOES NOT WANT TO
DO THIS. HE JUST PUT OUT A POST, A
THREAD OF POSTS, TALKING ABOUT HOW INVESTMENTS IN CRYPTO
ASSETS COULD ALSO BE EXCEPTIONALLY RISKY AND OFTEN
VOLATILE. A NUMBER OF MAJOR PLATFORMS IN
CRYPTO ASSETS HAVE BECOME INSOLVENT OR LOST VALUE
.
INVESTMENTS IN CRYPTO ASSETS CONTINUE TO BE SUBJECT TO
SIGNIFICANT RISK. HE'S DOING THIS THROUGH
CLENCHED TEETH IF HE DOES IT AT ALL.
WHAT IF IT DOES NOT HAPPEN ON JANUARY 10?
WHAT IF WE ARE NOT ABLE TO TRADE IMMEDIATELY? >> I THINK IT WILL HAPPEN IN
THE NEXT 30 OR 60 DAYS BUT THE QUESTION IS WIND AS A GO LIVE?
HOW LONG CAN HE DELAY IT FROM GOING LIVE?
APRIL OR MAY OR JUNE IS REALISTIC.
PAST THAT HE RUNS INTO LEGAL RISK AND IN HIS MIND HE IS
GOING TO COMPROMISE LIKE GIVING THE BITCOIN ETF BUT
NOT
ETHEREUM, ETC.. THE CRYPTO COMMUNITY WILL BE
HAPPY JUST GETTING THE BITCOIN OUT THE DOOR. ED:
YOU MENTIONED HARBORING AS A KEY EVENT, FUTURE CATALYST FOR
BITCOIN IN 2024. MANY OF THE GUESTS LAST WEEK
ALSO REFERENCED THAT. MY QUESTION IS WHAT IS YOUR BIG
PICTURE BITCOIN CALL FOR 2024? WE STARTED WITH THE ABSOLUTE
BELIEF THAT WHAT WAS DRIVING THE TRADING OF BITCOIN OR THE
PRICE ACTIVITY WAS ANTICIPATION OF SPOT ETF.
THERE IS PLENTY OF EVIDENCE THAT THERE IS A LOT MORE TO IT. >> THE -- ALONE WO
ULD NORMALLY
PROPEL BITCOIN TO AN ALL-TIME HIGH.
WHAT HAPPENS IS IN APRIL WHEN IT HAPPENS, NOTHING HAPPENS,
THE PRICE ACTION GOES DOWN A LITTLE BIT AND THEN SIX MONTH
LATER, YOU REALLY SEE THE EFFECTS OF IT.
COMBINE THAT WITH THE BITCOIN ETF, WE THINK AGAIN, THE PRICE
WOULD GO FROM $50,000 SIX MONTHS FROM NOW TO $100,000
REAL FAST. WHEN IT HITS $100,000, IT BECOMES A $2
TRILLION MARKET CAP CURRENCY AND THE MEDIA FRENZY WOULD BE
HUGE BY THE END OF THE YEAR. WE THINK Q3, Q4, YOU WILL SEE A
LOT OF
EXCITEMENT OVER THE PRICE OF BITCOIN. CAROLINE: BELUGA, YOU ARE SAYING THAT YOU
ARE CUTTING THROUGH THE NOISE AND HELPING PEOPLE UNDERSTAND
WHICH PROJECTS ARE THE ONES, THE SAFEST PRODUCTS TO BE
INTERACTING WITH, INVESTING IN. ULTIMATELY BITCOIN IS THAT, IN
INVESTMENT, A STORE OF VALUE. MANY PEOPLE WANT TO SEE FROM
CRYPTO, PURPOSE, DEPLOYMENT, A CHANGE, A FIXING OF A PROBLEM.
WHEN DOES THAT BECOME MORE NUANCED OR CLEAR TO AN
INVESTMENT? >> THAT IS WHAT WE ARE HOPING,
THAT AT THE END OF THE YEAR,
WE SEE MORE PRODUCTS.
WE BELIEVE THE MISSION OF BITCOIN AND CRYPTO IS NOT JUST
BUY AND HOLD. IT IS LAND, USE, PAY, ETC..
THERE'S A LOT OF THINGS THAT CAN BE DONE WITH BITCOIN BESIDE
SPECULATION. WE ARE SEEING A BUNCH OF WEB
THREE GAMES HAPPEN. OUR GOAL AT BELUGA IS TO GET
THE OTHER 90% TO START USING CRYPTO IN THE RIGHT WAY.
THERE'S A LOT MORE OUT THERE THAN JUST BUY AND HOLD.
CAROLINE: STAY WELL. COMING UP, WE WILL HAVE THE
LATEST IN THE WORLD OF HEALTH TECH.
THIS IS THE JP MORGAN HEALTH CONFE
RENCE KICKS OFF IN SAN
FRANCISCO BUT WE'VE ALSO GOT SOMETHING ELSE TO LOOK OUT FOR.
ED: DUAL LINGO, THE LANGUAGE LEARNING SOFTWARE COMPANY IS
CUTTING 10% OF ITS CONTRACTOR WORKFORCE.
A SPOKESPERSON TELLING BLOOMBERG ABOUT 10% OF
CONTRACTORS WERE OFF BOARDED BECAUSE THE COMPANY WANTS TO
FOCUS MORE WORK ON AI, DRIVING ITS DEVELOPMENT.
NO SHARP REACTION IN TRADING. THE STOCK WAS ALREADY UP.
THIS IS BLOOMBERG TECHNOLOGY. ED: THERE HAS BEEN A LOT OF M&A
NEWS IN BIOTECH. -- ABOUT TO BE ACQUIRED BY
DRU
GMAKER MERCK & CO.. JOHNSON & JOHNSON WILL PAY $2
BILLION IN CASH TO ACQUIRE -- GAINING A DEVELOPER OF WIDELY
THOUGHT THERAPY IS THAT TARGET TUMORS WITH LETHAL DRUGS.
WE WILL BREAK IT DOWN WITH VIJAY PANDE, FOUNDING GENERAL
PARTNER OF ANDREESSEN HOROWITZ. INTERESTING TIMING, WITH JP
MORGAN'S HEALTH CONFERENCE. I'VE COVERED A FEW OF THOSE.
IT IS INTERESTING THOUGH THAT THERE IS SOME M&A HERE, IN
BIOTECH, HEALTH CARE. WHAT IS YOUR TEA LEAF READ OF
THAT? VIJAY: IT IS FIREWORKS, THAT IS WHAT
WE ARE
LOOKING FOR. CLEARLY THE IPO WINDOW HAS BEEN
CLOSED FOR A WHILE OR HAS BEEN BARELY OPEN.
M&A WILL BE A NATIONAL CONSEQUENCE OF THAT.
WE ARE SHOOTING TO SEE A LITTLE BIT OF THAT THIS YEAR, MAY BE
MORE THAN LAST YEAR BUT I THINK PROBABLY THE BIG FIREWORKS COME
IN A YEAR. ED: MY EXPERIENCE WITH JP MORGAN'S
HEALTH CARE CONFERENCE IS SIMILAR TO CES OF THE TECH
CONFERENCES IN THAT IT IS THE ONE TIME OF YEAR WHEN EVERYONE
IS IN ONE PLACE. YOU CAN TAKE A LOT OF MEETINGS.
M&A IS ONE EXIT STARTED GEE FOR
AVC LIKE YOU. -- IS AN EXIT STRATEGY FOR A VC
LIKE YOU. VIJAY: ALSO THE IPO WINDOW MIGHT OPEN.
INTEREST RATES MIGHT GO DOWN. MAYBE BY THE END OF THE YEAR,
Q3, Q4, THAT WINDOW MAY BE OPEN. PEOPLE ARE PREPARING FOR THAT.
THE MARKET HAS TO BE THERE OF COURSE. ED:
YOU THINK PEOPLE ARE THERE? VIJAY:
I'VE SEEN PEOPLE ARE THERE. CAROLINE: VIJAY, AI HAS BEEN ALMOST WHAT
DICTATED THE COMPANIES THAT COULD NOT GET OUT OF THE GATE
LAST YEAR. A LOT OF THEM HAD AI WITHIN A
BUSINESS MODEL AND THEY TRIED TO AMP
UP THE FACT THAT IT WAS
NOT AI. IS AI GOING TO BE A DICTATOR OF
WHICH BIOTECH COMPANIES COME FORWARD OR IS IT JUST THEM
SOLVING A REAL PROBLEM WITH PROFITABILITY AS A STANCE?
VIJAY: THE THING ABOUT AI IS THAT LAST
YEAR WAS THE YEAR WHEN AI WAS REALLY SORT OF FURTHER
DEVELOPED AND THIS YEAR IS WHEN IT STARTS TO GET IMPLEMENTED,
BOTH IN LIFE SCIENCES AND HEALTH CARE MORE BROADLY.
THAT IS SOMETHING INCUMBENTS WOULD LIKE TO DO BUT IT IS
HARD, CHANGING THE WAY THE COMPANY WORKS AND SO STARTUPS
WILL
BE A WAY TO DO THAT, AND THAT IS BEEN THE HISTORY OF
TECHNOLOGY. CAROLINE: WHAT IS INTERESTING IS THAT
MANY ON THE OPTIMISTIC SIDE OF USE AND PRACTICALITY AND
NECESSITY OF AI TALK UP THE IMPACT ON HEALTH CARE AS A REAL
REASON THAT WE SHOULD NOT HOLD BACK INNOVATION FOR FEAR OF IT
BEING A STEP TOO FAR AND WE SHOULD REGULATE IT.
FROM YOUR PERSPECTIVE, HOW IS THAT CONVERSATION GOING?
GENERATIVE AI AND THE IMPACT ON HEALTH CARE BEING SAFE? VIJAY:
I DON'T THICKETS A QUESTION ABOUT NOT REGULATING IT B
ECAUSE
HEALTH CARE AND LIFE SCIENCE IS ALREADY REGULATED.
THE QUESTION IS, DO WE NEED MORE REGULATION?
GIVEN THE CHALLENGES THAT WE ARE FACING IN TERMS OF CURING
DISEASES, TREATING PATIENTS, THE OPPORTUNITY HERE IS TO
FINALLY ADVANCE OUR SPACE AND WE ALREADY HAVE A REGULATORY
FRAMEWORK TO MAKE SURE THAT CAN BE DONE SAFELY. ED:
ONE OF THE BIG STORIES TOWARD THE END OF THE YEAR WAS CRISPER
AND THE DEVELOPMENT THERE. WE REFER TO BIOTECH AS A
BLANKET TERM BUT WITHIN THAT THERE IS SO MUCH.
I WONDERED
IF YOU HAVE A CLEAR AREA OF EXCITEMENT FOR 2024, A
SPECIFIC TECHNOLOGY OR ISSUE THAT YOU THINK WILL BE
CHALLENGED OR TACKLED? VIJAY: WE'VE TALKED ABOUT AI AND I
THINK WHAT IS HAPPENING RIGHT NOW IS THAT AI IS COMING TO
BEAR AT A TIME WHEN BIOLOGY IS ALSO FUNDAMENTALLY CHANGING.
BIOLOGY IS BECOMING MUCH MORE OF AN ENGINEERING DISCIPLINE.
CRISPP IS ONE EXAMPLE -- CRISPR IS ONE EXAMPLE.
GATHERING HUGE AMOUNT OF DATA IS COMING AT THE SAME TIME THAT
WE HAVE AI TO USE THAT DATA. THAT, NATION IS SOMET
HING THAT
WE WILL SEE KEEP PUSHING THIS INDUSTRY FOR THE NEXT DECADE.
ED: VENTURE CAPITALISTS ARE LONG-TERM LONG-DURATION
INVESTORS WITH LONG TIME HORIZONS BUT WHAT IS YOUR
STRATEGY FOR 2024? WHAT TYPES OF COMPANY WILL YOU
INVEST IN? VIJAY: I THINK WE WILL SEE SOME
ADVANCES IN AI BUT THE REALITY IS EVEN IF AI DOES NOT ADVANCE
EVEN MORE THAN TO DATE, THE INNOVATION IS GOING TO CHANGE
OUR FIELD. WE ARE MOVING FROM AN AREA THAT
WAS THE SPOKE WITH ARTISANS TO A TRUE INDUSTRIAL RESULT -- --
A TRUE IN
DUSTRIAL REVOLUTION. WE ARE LOOKING TO SEE WHO CAN
PUT IT TO WORK. CAROLINE: YOU THICK OF A PORTFOLIO
COMPANY THAT IS ULTIMATELY ALLOWING R&D TO BE SHARED, STOP
SOME OF THE LIMITATIONS AND THE PAPERWORK AND INDIVIDUALS
SIDELOAD PARTICULAR LABS HAVE AN INABILITY TO SHARE YOUR
LEARNING AND DRIVE IT FORWARD. WHEN YOU'RE LOOKING AT YOUR
PORTFOLIO COMPANIES, HOW THAT ENOUGH IN THIS ENVIRONMENT TO
ENSURE THAT THEY ARE FOCUSING ON -- HAVE THEY DONE ENOUGH IN
THIS ENVIRONMENT TO ENSURE THAT THEY ARE FOC
USING ON COST AND
GROWTH? VIJAY: GROWTH IS A KEY PART OF A
STARTUP, BUT I THINK RIGHT NOW THE OPPORTUNITIES THAT A LOT OF
THE STARTUPS AND LIFE SCIENCES AND HEALTH CARE HAVE BEEN ON A
DIFFERENT CURVE AND I THINK AS THEY BECOME TECH COMPANIES, AI
IS A VERY NATURAL WAY FOR THEM TO BECOME A TECH COMPANY,
GROWTH WILL COME ALONG THE RIDE -- ALONG FOR THE RIDE.
THAT IS PART OF THE EXCITEMENT. WE TYPICALLY DON'T THINK OF
HEALTH CARE IS A TECH PROBLEM AND AS PEOPLE START TO REFOCUS
IN THINK OF IT THAT W
AY, WE HAVE ADVANCEMENTS THAT COME
RAPIDLY. CAROLINE: VIJAY PANDE, I HOPE YOU WILL
GET ALL OF THOSE ADVANCEMENTS. THANK YOU SO MUCH FOR SETTING
US UP FOR THE JP MORGAN CONFERENCE.
GENERAL PARTNER OVER AT ANDREESSEN HOROWITZ.
COMING UP, A BREAKTHROUGH IN ANOTHER AREA OF TECH.
ROCKET LAUNCHES. THIS TIME, FOR THE PENTAGON
SPACE PARTNER. WE HAVE DETAILS COMING UP.
♪ ED: I'M GOING TO GO BACK TO SHARES OF BOEING.
STILL DOWN 6.6%. AN UPDATE FROM FLIGHT RECORDS SHOW US THE SPECIFIC AIRLINES
737 MAX NINE
AIRLINES. IT'S BEEN 10 DAYS IN OKLAHOMA
CITY IN THE PREVIOUS WEEKS PRIOR TO THAT FLIGHT, WHERE THE
CARRIER'S MAINTENANCE PARTNER AND WORK ON IT ACCORDING TO THE
HEADLINES CROSSING THE TERMINAL. IT WAS FITTED WITH A WI-FI DOME.
IT IS NOT HAVING A KNEE-JERK IMPACT ON THE STOCK RIGHT NOW,
BUT IT IS FAST-MOVING AND WE ARE GETTING MORE DETAILS, WHICH
WILL BRING YOU THROUGHOUT THE DAY. THIS IS BLOOMBERG. CAROLINE:
GOING VIRAL, AN EXTRAORDINARY STORY ABOUT HOW APPLE'S PROMISE
FOR STURDY IPHONES MAY HA
VE BEEN KEPT.
AFTER ONE WAS FOUND INTACT AFTER FALLING 16,000 FEET FROM
THAT ALASKA AIRLINES FLIGHT 1282 THIS WEEKEND.
ACCORDING TO A USER POST, IT WAS AN AIRPLANE MODE AND STILL
HAD HOURS OF BATTERY LIFE REMAINING.
FLIGHT 1282 WAS FORCED TO TURN BACK MINUTES AFTER TAKEOFF FROM
PORTLAND WHEN A FEW TO LICH BLEW OFF THE PLANE AND SUCKED
SHIRTS AND CLEARLY PHONES OUT. NO PEOPLE THANKFULLY. ED:
LET'S GET A DIFFERENT TAKE ON TECH AND AVIATION BECAUSE
UNITED LAUNCH ALLOWANCES -- LAUNCH ALLIANCES VULCA
N ROCKET
LAUNCHED FROM CAPE CANAVERAL EARLY THIS MORNING.
ABOUT 50 MINUTES AFTER LIFTOFF, THE ROCKET DEPLOYED A ROBOTIC
LUNA LANDER AND IF ALL GOES WELL WITH THE MISSION, IT COULD
BE THE FIRST PRIVATELY MADE LANDER TO SUCCESSFULLY LAND ON
THE MOON. CAROLINE: COMING BACK DOWN TO EARTH,
LET'S LOOK AT TWILIO. SHARES, THEY ARE DOING WELL ON
THE BACK OF THE FOUNDER STEPPING DOWN AS CEO, GIVING UP
HIS BOARD SEAT EVEN. WE ARE GOING TO DIG INTO THIS
WITH BRODY FOR. BECAUSE INVESTORS CLEARLY
WANTED THIS.
THIS WAS AN ACTIVIST WHO FOUND
THEIR MOMENT BECAUSE JEFF LAWSON FINALLY GAVE UP VOTING
RIGHTS. >> WHEN YOU START A COMPANY
OFF, YOU HAVE THESE HIGH-POWERED CHAIRS.
JEFF'S ART OF THE COMPANY INTO THOUSAND EIGHT AND THOSE SHARES
EXPIRED IN 2008. ACTIVIST INVESTORS -- COMPANY
IN 2008 AND THOSE SHARES EXPIRED LAST YEAR.
A LOT OF INVESTORS I HEAR FROM SAY THEY WANTED A SWITCH UP.
I THINK THIS WAS EXPECTED. THIS CAME SOONER THAN MANY
FOLKS ANTICIPATED. ED: JEFF LAWSON OUT.
WHAT DO WE KNOW ABOUT THE N
EW CEO THAT IS COMING IN? >> THE THING TO KNOW ABOUT HIM
IS HE HAS PRETTY MUCH BEEN LAWSON'S RIGHT-HAND MAN.
HE WAS THE CEF -- THE CFO AND LET THEIR LARGEST BUSINESS UNIT.
HE IS SEEN AS MORE OF A FINANCIAL OPERATIONS TYPE, BUT
AT THE SAME TIME, I HAVE SEEN SOME FOLKS SAY, IF WE WANTED A
CHANGE, WHY DID WE GO FOR THE NEXT -- WHY DIDN'T WE GO FOR AN
EXTERNAL CEO? CAROLINE: WE WILL SEE HOW IT CONTINUES TO
EVOLVE WITH THE INVESTOR BASE. FOR NOW, I PUSH UP HIGHER ON
THE SHARES. BRODY FORD, BREAKING I
T ALL
DOWN. YOU ARE ABOUT TO TAKE A FLIGHT
YOURSELF, ED. ED: NOT ON A BOEING 737 FAX NINE
BUT I WILL BE OFF TO CES AND WE HAVE A TECH DAILY OUT THAT THE
OLD KIND OF WACKY GADGET SIDE OF CES IS STILL THERE.
A BIG FOCUS ON AI GADGETS, BUT AS IS ALWAYS THE CASE, LOOK AT
THE NAMES ON THE SCREEN. ALSO A CHANCE FOR CORPORATE
AMERICA TO SAY WE KNOW ABOUT AI AS WELL. CAROLINE:
EVERYONE IS A TECH COMPANY, RIGHT? WE'VE LONG HAD AT THAT CAR
COMPANIES HAVE BEEN TECH COMPANIES BUT THIS IS THE
ULTIMATE PROOF
POINT THAT TECH IS HORIZONTAL AND NOT VERTICAL.
ED: IT IS THE EVERYONE IS A TECH COMPANY KIND OF LINE.
ONE OF THE OTHER KEYNOTES IS WALMART.
A BIG BOX RETAILER WITH AN INCREASING E-COMMERCE PRESENCE.
THEY ARE EXHIBITING ON THE CES FLOOR FOR THE FIRST TIME.
WHAT DOES THAT LOOK LIKE IF YOU ARE L'OREAL, WHOSE CEO WILL
SPEAK OR SOME OF THE CHIP COMPANIES? QUALCOMM, THEIR STORIES WERE AI
IN 2023, SO WHAT IS NEW? CAROLINE:
ALSO WHAT THE COMPETITORS ARE UP TO.
NVIDIA LEADS THE CHARGE IN TERMS OF THE EN
CZ MARK BECAUSE
THEY DO IN INDURATION ON A CHIP FOR PC AI.
IT IS NOTABLE THAT AI HAS TO BE THE NEW BUSINESS MODEL IF YOU
WILL LEAD IN THIS ENVIRONMENT. ED: THEY HAVE THE WEIRD STUFF AS
WELL. ROBOTS THAT CAN MIMIC HANDWRITING, HIGH-TECH TOILETS,
THOSE ARE THINGS WE WILL BE CHECKING OUT THIS WEEK.
CAROLINE: JUST NOT ON CAMERA. ED: THAT DOES IT -- CAROLINE:
THAT DOES IT FOR THIS EDITION OF BLOOMBERG TECHNOLOGY. ED:
WE POST OUR PODCASTS ON THE BLOOMBERG PLATFORMS BUT ALSO
APPLE, SPOTIFY AND I HEART.
THIS IS BLOOMBERG TECHNOLOGY.
Comments
Who at the WSJ hasn’t done ‘illegal drugs’
my guy Sonny Singh is back, he always appears on Bloomberg Tech during bull runs, it’s a positive sign! 😂
What about the Nvidia Shield refresh/update this year!!!
One of my favorite shows :)
Let Elon live!!
Great watching from nepal 🇳🇵 👌 👍 🎉❤
Innovative enhanced growth in business.
19,000,000 available ...until it halves....GRIFT!!!!!!
Attacking Elon’s habits now? Pretty sad Bloomberg…
her eyes are like the ocean. beautiful.
No matter how hard you are going to try to put him down, he WON'T, the dude's an icon and he has done a lot.🎉Kudo Elon we back up.
Nice
Bloomberg would know cause they just did a line with Elon in the back room 🤫
Bet they have over 2000 dislikes
Predictable scenario: Bloomberg or Forbes or NYT announces criticism of Elon Musk & it turns out to be noise. Is it in fact an attempt to nudge the market, push the stock down? Seems like it. Market manipulation IMO.
❤️❤️❤️❤️❤️❤️
Nvidia to the moon
Musk already said that he will consult with the Israeli Government before restoring internet service to GAZA . Is that not good enough for you?
Caroline 🥰 😍 🥰 😍
Retract and apologise.