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Speaker 1: From the Bloomberg Interactive Burgers Studios. This is Bloomberg day

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Speaker 1: Break for Tuesday, June sixth.

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Speaker 2: Coming up today, Apple's thirty five hundred dollars Vision Pro

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Speaker 2: headset gets mixed reviews.

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Speaker 1: Chris Christy throws his head into the Republican feel for President.

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Speaker 2: Jamie Diamond meets with a group of moderate House Democrats, and.

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Speaker 1: Hollywood actors are the latest to authorize a strike against

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Speaker 1: film and TV studios.

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Speaker 3: Russian occupied Damn has been destroyed in Ukraine, threatening major flooding,

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Speaker 3: plus asylum seekers in New York are being placed in

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Speaker 3: houses of worship. I'm Michael barr More Ahead.

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Speaker 4: Uptown Stasharon Sports, Yankees host.

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Speaker 3: The White Sox that I met some in Atlanta.

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Speaker 4: Vegas trowns Florida for two nothing lead in the Stanley

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Speaker 4: Cup Final.

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Speaker 5: That's all straight ahead on Bloomberg day Break, The Business

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Speaker 5: news you need to sturn your day in just one

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Speaker 5: fifteen minute podcast each morning on Apples, Spotify, the Bloomberg

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Speaker 5: Business app, and everywhere you get your podcasts.

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Speaker 6: Good morning, I'm Nathan.

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Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're

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Speaker 1: following today.

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Speaker 2: We begin this morning with reaction to Apple's long awaited

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Speaker 2: mixed reality headset. After the stock rally more than two

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Speaker 2: percent before the product unveil, it closed down eight tenths

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Speaker 2: of one percent. It's going to cost you a pretty

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Speaker 2: penny to get this new headset, nearly thirty five hundred dollars.

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Speaker 2: Bloomberg's Ed Ludlow covered the event from Apple headquarters in Coopertino, California.

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Speaker 7: Apple said this would usher in a new era of

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Speaker 7: spatial computing, something akin to what the iPhone did for

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Speaker 7: mobile computing. We got some demonstration of how existing catalogs

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Speaker 7: of iOS or iPad apps could run on this mixed

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Speaker 7: reality headset, as well as some more modern use cases.

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Speaker 7: The thing that strikes you when you get up close

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Speaker 7: and personal with the Vision Pro is its external power source,

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Speaker 7: an external battery pack which leads off of a small cable.

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Speaker 7: It is a small form factor device, something akin to

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Speaker 7: ski goggles, with a k running outs of it, made

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Speaker 7: of carbon fiber aluminum, a proprietary alloy that Apple develops,

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Speaker 7: and other fabrics and textiles for comfort.

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Speaker 2: Bloomberg's Ed Ludlow says the new Vision Pro will go

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Speaker 2: on sale in the US early next year.

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Speaker 1: Well The new Vision Pro head said was the culbination

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Speaker 1: of more than seven years of development. The product vaults

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Speaker 1: Apple into the first major new category since it began

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Speaker 1: selling smart watches in twenty fifteen. Apple CEO Tim Cook

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Speaker 1: calls it a game changer.

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Speaker 8: So in the same way that Mac introduced us to

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Speaker 8: personal computing and iPhone introduced us to mobile computing, Apple

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Speaker 8: Vision pro will introduce us to spatial computing. This marks

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Speaker 8: the beginning of a journey that will bring a new

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Speaker 8: dimension to powerful personal technology.

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Speaker 1: And sores to say, Tim Cook and Apple are also

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Speaker 1: working on a lower cost version of the headset.

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Speaker 2: Okay, let's turn from technology to politics now, Karen, because

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Speaker 2: the Republican field for president is getting even more crowd

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Speaker 2: and we get the details now from Bloomberg's John Tucker.

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Speaker 9: John Nathan. Former New Jersey gamna Chris Christy launches his

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Speaker 9: bid for the Republican nomination for president at a town

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Speaker 9: hall in New Hampshire tonight. Christy launched to Trump in

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Speaker 9: twenty sixteen and went on to become a close on

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Speaker 9: and off visor before breaking with a former president over

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Speaker 9: his refusal to accept the results of the twenty twenty election.

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Speaker 9: Earlier this year, Christy told ABC News the GOP must

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Speaker 9: embrace the candidate other than Donald Trump to defeat Democrats.

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Speaker 3: I've said over.

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Speaker 5: And over again that he can't win a general election.

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Speaker 3: And that's not speculation. That's based upon the polling that

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Speaker 3: I was privy to pre the twenty twenty election.

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Speaker 9: Christy is polling between one percent and zero so far.

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Speaker 9: Bloomberg opinion columnist Jonathan Bernstein contends that Christy could dedicate

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Speaker 9: his campaign to taking down Trump, siphoning votes from the

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Speaker 9: former president. You know, York, I'm John Tucker, Bloomberg Daybreak.

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Speaker 1: All right, John, Thanks well, staying in politics, We'll see

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Speaker 1: JP Morgan, Chase CEO Jamie Diamon meet privately today with

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Speaker 1: a group of moderate House Democrats. We're told they'll talk

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Speaker 1: banking and the economy, but there could be more than

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Speaker 1: that on the agenda. Scott Carr reports from our Bloomberg

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Speaker 1: ninety nine to one newsroom in Washington.

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Speaker 10: The closed door launch is with a new Democrat coalition,

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Speaker 10: which describes itself as nearly one hundred forward thinking Democrats

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Speaker 10: committed to pro economic growth, pro innovation, and fiscally responsible

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Speaker 10: policies and comes. As Diamond is being Urged by some

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Speaker 10: to enter the twenty twenty four presidential race, Diamonds told

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Speaker 10: Bloomberg Television that a political career had crossed his mind.

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Speaker 10: Pershing Square CEO Bill Ackman encouraged diamond to run late

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Speaker 10: last month, saying he's a centrist who could beat President

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Speaker 10: Biden in a primary or former President Trump in a

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Speaker 10: general election. Diamond says he has no plans to run

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Speaker 10: in Washington. Scott car Bloomberg Daybreak.

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Speaker 2: Okay, Scott, thank you. Now, let's schedule the latest on

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Speaker 2: US China relations. We've learned the State Department's top Asia

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Speaker 2: official met with China's vice foreign minister yesterday in Beijing.

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Speaker 2: Both sides are describing the top as candid and productive,

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Speaker 2: but the relationship appears to still be strained.

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Speaker 1: Meantime, Nathan Chinese authorities could be making changes to the

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Speaker 1: nation's banking industry in a bid to boost growth. We're

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Speaker 1: told they're asking the nation's biggest banks to lower deposit

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Speaker 1: rates for the second time in less than a year.

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Speaker 1: Bloomberg News has learned state owned lenders last week were

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Speaker 1: advised to cut rates and a range of products. Sources

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Speaker 1: say banks are assessing the request and may adjust rates

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Speaker 1: as early as this week.

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Speaker 2: Man back here in the US, careen of relations are

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Speaker 2: about to get more strained. In Hollywood. There's a word

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Speaker 2: of more labor issues between the studios and their workers.

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Speaker 2: In Bloomberg's Jeff Bellinger has the latest.

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Speaker 11: Members of the Screen Actors Guild American Federation of Television

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Speaker 11: and Radio Artists have authorized their union leaders to call

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Speaker 11: a strike if contract talks with film and TV studios breakdown.

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Speaker 11: The vote puts more pressure on the studios. Negotiations are

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Speaker 11: set to begin tomorrow to replace a contract that expires

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Speaker 11: at the end of the month. There is a lot

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Speaker 11: of labor tension in Hollywood. Thousands of writers have been

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Speaker 11: on strike since early May. Jeff Bellinger, Bloomberg Radio.

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Speaker 1: Ry Jeff thanks Well. Actors are looking for higher pay.

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Speaker 1: It looks like it pays to be a chief investment

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Speaker 1: officer at a US family office. According to a report

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Speaker 1: from KPMG, the private investment firms of ultra wealthy Americans

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Speaker 1: have the greatest number of money managers in that role,

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Speaker 1: earning at least a million dollars a year. Family offices

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Speaker 1: are traditionally loosely regulated entities that manage investments, tax affairs

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Speaker 1: and philanthropy for the world super Rich.

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Speaker 2: Time now to take a look at some of the

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Speaker 2: other stories making news in New York and around the

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Speaker 2: world with Bloomberg's Michael barn Good Morning, Michael.

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Speaker 3: Good morning, Nathan. Russian occupied dam in southern Ukraine has

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Speaker 3: been at least partially destroyed. It poses a risk of

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Speaker 3: serious flooding to the Ukrainian held city of Kurson downstream.

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Speaker 3: Both sides are blaming each other for the destruction. Meanwhile,

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Speaker 3: the world is watching when Ukraine will unleash a counter

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Speaker 3: offensive against Russia. White House National Security Council Coordinator John

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Speaker 3: Kirby would not speak for their military, but said he

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Speaker 3: was confident they are.

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Speaker 10: Prepared whenever they decided to step off on whatever they

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Speaker 10: decided to do.

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Speaker 5: The President's confident that we did everything.

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Speaker 10: We could over the last six eight months or more

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Speaker 10: to make sure that they had all the equipment, training,

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Speaker 10: the capabilities to be successful.

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Speaker 3: National Security Council's John Kirby. New York City houses of

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Speaker 3: worship will be taking in migrants to ease the city's crunch.

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Speaker 3: Mayor Eric Adams announced a partnership with the nonprofit New

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Speaker 3: York Disaster Interfaith services. The mayor says it will provide

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Speaker 3: daily shelter, meals, and other services.

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Speaker 12: Up to fifty houses of wadship would be able to

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Speaker 12: take part in this program to start with offer shelter

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Speaker 12: to a combine nearly one thousand asylum seekers.

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Speaker 3: Mayor Adams says twenty two hundred asylum seekers arrived at

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Speaker 3: city shelters last week alone. California's Attorney General says he

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Speaker 3: is investigating after another planeload of migrants were flown to

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Speaker 3: Sacramento and dropped outside of a church at the direction

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Speaker 3: of Florida's government. AG Bob Banta says they are looking

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Speaker 3: at possible charges.

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Speaker 2: Kidnapping is something that we're looking at, and the element

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Speaker 2: of dress is important in that instance. We are also

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Speaker 2: looking at other potential legal violations criminal as.

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Speaker 3: The flight is said to have come from Texas. One

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Speaker 3: of America's most infamous and dangerous spies has died in prison.

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Speaker 3: More from Bloomberg's Dan Schwartzman.

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Speaker 13: FBI agent turned Russian mole Robert Hanson has died in

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Speaker 13: a maximum security prison in Colorado at the age of

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Speaker 13: seventy nine. Beginning in nineteen eighty five, Hanson worked with

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Speaker 13: the Russians providing highly classified information in exchange for one

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Speaker 13: point four million dollars. Some of the information given by

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Speaker 13: Hanson in more than six thousand pages, led to assets

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Speaker 13: in Russia being hunted down. The Department of Justice has

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Speaker 13: said in the past that Hanson's espionage was one of

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Speaker 13: the worst intelligence disasters in the country's history. Hanson was

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Speaker 13: ultimately sentenced to life in prison without pearl in May

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Speaker 13: of two and two two after pleading guilty to fifteen

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Speaker 13: counts of espionage in New York. I'm Dan Schwarzman.

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Speaker 3: Bloomberg Radio, Global News twenty four hours a day, powered

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Speaker 3: by more than twenty seven hundred journalist and analysts and

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Speaker 3: over one hundred and twenty countries. Michael Barran, This is Bloomberg, Nathan.

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Speaker 2: Thank you, Michael. Time down for the Bloomberg Sports up date.

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Speaker 2: Good morning, John stansh howurry morning, Nathan.

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Speaker 4: The Vegas goal the Knight's born in two thy seventeen

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Speaker 4: Nathan Stanley Cup Final in their first season. Now back

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Speaker 4: five years later in Vegas, two wins from hoisting the

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Speaker 4: Cup after meeting Florida five to two in the series

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Speaker 4: opened to US seven to two out of the Panthers

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Speaker 4: who while seed TOD eight had been dominant in the East.

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Speaker 4: They came into this series having won eleven of their

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Speaker 4: last twelve games, led by the player their goalie, Serge Bebrowski,

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Speaker 4: but he got benched last night.

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Speaker 13: Game three is Thursday in South Florida.

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Speaker 4: Sixty year old Greg Cronin, who's been coaching hockey for

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Speaker 4: thirty six years, just got his first NHL head coaching

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Speaker 4: job with Anaheim. It's been a month since the Rangers

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Speaker 4: started looking for a new coach. Still no higher, no

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Speaker 4: word yet on our and judges Big Toe Yankees holding

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Speaker 4: their breath that it's not broken. Yanks home tonight till

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Speaker 4: the White Socks Mets are in Atlanta. Coco Goff's into

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Speaker 4: the quarterfinals of the French Opening Tomorrow's to play the

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Speaker 4: top seed in the Petty champ AGAs Schwaattach, who beat

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Speaker 4: Golf in last year's final in Paris.

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Speaker 14: I mean, honestly since last year have been panting to

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Speaker 14: play her on especially at this tournament. I knew, I

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Speaker 14: figured that I was going to happen because I figured

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Speaker 14: I was going to do well and she was going

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Speaker 14: to do well. Didn't know what side of the troll

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Speaker 14: we were going to be on obviously, but I'm the

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Speaker 14: type of mentality if you want to be the best,

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Speaker 14: you have to beat the best.

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Speaker 4: Novak Djokovic and the men's top seed Carlos al Karez

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Speaker 4: both have their quarterfinal matches today. The NFL has made

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Speaker 4: it known they are coming down hard on players caught gambling.

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Speaker 4: Calvin Ridley just sat out an entire season. Five other

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Speaker 4: players just recently suspended. An outward that Isaiah Rodgers, a

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Speaker 4: cornerback for Indianapolis, has admitted that he's being investigated, and

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Speaker 4: he reportedly placed hundreds of bets, including some on his

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Speaker 4: own team. Rogers started half of the Colts games last season.

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Speaker 4: John stashedward Blueberg's.

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Speaker 5: From coast to coast, from New York to San Francisco,

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Speaker 5: Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business Appen,

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Speaker 5: Bloomberg dot Com. This is Bloomberg Daybreak.

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Speaker 2: Good morning on Nathan Hager. It has been a few

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Speaker 2: years coming, but Apple is betting that the future of

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Speaker 2: computing is going to be in your face, sir, Actually

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Speaker 2: more like on it. The Iphonemaker has unveiled its long

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Speaker 2: awaited mixed reality headset, the Vision Pro at an eye

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Speaker 2: popping starting price of thirty four hundred and ninety nine dollars.

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Speaker 2: Dan Ives is with US now Managing Director, Senior Equity

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Speaker 2: Analyst at Webbush Securities. Dan, it's always great to speak

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Speaker 2: with you. I saw your note after the unveil at

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Speaker 2: the WWDC in Cooper Tino. You're calling this a flex

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Speaker 2: the muscles moment for Tim Cook and company. Tell me

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Speaker 2: more about what you mean.

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Speaker 15: Yeah, I mean, Nita. If you looked in the last decade,

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Speaker 15: this is probably most revolutionary product you've come out, and

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Speaker 15: I think for Apple this is really the evolution in

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Speaker 15: terms of where it's going, not just on ar VR,

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Speaker 15: but this is essentially the start of what's going to

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Speaker 15: be a developer community focus more and more on AI

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Speaker 15: mixed reality, and I view it as a flex the

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Speaker 15: muscles moment as Apple is just showing their strength.

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Speaker 2: Although we have seen other entrance into this space. We've

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Speaker 2: got Meta's Oculus Quest headset comes to mind as well,

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Speaker 2: and it's at a much much lower price point than

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Speaker 2: this Vision Pro. What is Apple in your view, going

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Speaker 2: to do differently that competitors haven't done already?

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Speaker 15: Sure, Look, it's a great question. I'd say, it's really

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Speaker 15: there's two billion, two billion iOS devices. That's the difference

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Speaker 15: with the golden installed as a cooper, Tina, that's what

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Speaker 15: Cook and Apple bring. You look at Meta, I mean

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Speaker 15: they've essentially struck out in terms of their you know,

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Speaker 15: mixed reality and ar vision. I think everyone's been waiting

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Speaker 15: for Apple because that's why they've had that golden touch

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Speaker 15: if you look at the last decade, especially because of

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Speaker 15: their ability to further penetrate in this right now is

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Speaker 15: all about the developer community first, then the thousands and

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Speaker 15: thousands of apps and use cases. Now I believe ultimately

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Speaker 15: this is something two years out will have you know,

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Speaker 15: north of a million units sold.

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Speaker 2: And take your point about the focus on the developer community,

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Speaker 2: but is that golden consumer base that does really love

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Speaker 2: the iPhone? Are they willing to pay more than twice

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Speaker 2: as much for this headset as they do for their iPhones?

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Speaker 5: Now?

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Speaker 15: Sure, And I think initially you're going to have limited

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Speaker 15: sales and we think one hundred and fifty thousand units

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Speaker 15: coming out the consumers. It's really year two, year three,

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Speaker 15: because I think in the next two or three years

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Speaker 15: this price gets cut in half. I mean, we we'll

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Speaker 15: probably be looking something like fifteen hundred for this, and

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Speaker 15: that's what Apple does. It's carried in the stick approach.

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Speaker 15: That's the DNA of Cooper Tino, which is why the

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Speaker 15: company you know, yet again on a three trillion dollar markoup.

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Speaker 2: Tell me a little bit more about how you think

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Speaker 2: Apple's going to focus on the developer space. Obviously, you've

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Speaker 2: been covering tech for quite some time here, you know

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Speaker 2: the ins and outs of how the development community can

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Speaker 2: sink its teeth into a product like this. What's the

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Speaker 2: use case that you see for developers getting in at

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Speaker 2: the early stages.

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Speaker 15: Well, yeah, USKS. First is going to be gaming, and

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Speaker 15: then you're going to see more fitness, health. You're going

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Speaker 15: to do a lot more around ultimately theater sports. You

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Speaker 15: saw the Disney relationship that they talked about, and I

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Speaker 15: think it's the start of what's going to be a

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Speaker 15: broader ais strategy for Apple because right now there's a

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Speaker 15: Game of Thrones battle going on for developers between Google, Microsoft, Apple,

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Speaker 15: but no one else has what Apple has, and that's

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Speaker 15: why Cook decided to roll this out after seven years

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Speaker 15: in the labs of Cooper Tina.

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Speaker 2: I heard you mentioned that you think they're going to

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Speaker 2: sell one hundred fifty thousand units in the first year.

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Speaker 2: I think I saw Apple saying that it could sell

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Speaker 2: nine hundred thousand in the early stages. Talk to me

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Speaker 2: a little bit about the outlook. Is Apple being a

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Speaker 2: little bit too rosy here?

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Speaker 15: Yeah, Look, I think ultimately year two we're probably looking

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Speaker 15: north of a million units. I think year one is

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Speaker 15: something where you know, this is typically non Apple that's

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Speaker 15: going to be optimistic in this. So the fact that

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Speaker 15: they're you know, I think coming out of the gates

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Speaker 15: firing and all cylinders is positive because ultimately it shows

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Speaker 15: what they believe is going to be the overall demand.

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Speaker 15: I think the technology blewn away in terms of you know,

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Speaker 15: what they've ultimately come out here with, And I think

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Speaker 15: it just shows that when it comes to technology innovation,

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Speaker 15: the highest standard there is is is what we see

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Speaker 15: coming out of Couper Tina.

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Speaker 2: About thirty seconds left here, Dan, do you see headsets

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Speaker 2: supplanting PCs down the line? Is this going to be

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Speaker 2: the game change technology?

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Speaker 15: Why do you believe we're going to look back five

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Speaker 15: seven years ahead at this is a reflection point, But

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Speaker 15: I believe where it ultimately goes, these are going to

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Speaker 15: be like Sunglasses two three years and now is not

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Speaker 15: going to be a headset. That's that's going to be

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Speaker 15: ultimately version three, version four, and that will start to

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Speaker 15: ultimately take away from PC's That's where this is all going,

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Speaker 15: and we believe events to the Apple Car twenty twenty six.

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