Speaker 1: Bloomberg Audio Studios, podcasts, radio news from Marhart where Innovation,
Speaker 1: money and power Collie in Silicon Valley, NBN.
Speaker 2: This is Bloomberg Technology with Caroline Hyde and Ed Love Love.
Speaker 3: I'm Karine Hyde a Bloomberg's World headquarters in New York
Speaker 3: and I met Ludlow in San Francisco.
Speaker 4: This is Bloomberg Technology.
Speaker 3: Coming up in video continues its meteoric rise. It touches
Speaker 3: three trillion dollars in market cap for coverage ahead.
Speaker 2: Plus SpaceX's Starship reaches new milestones in its fourth major
Speaker 2: test flight.
Speaker 4: We bring you the details.
Speaker 3: And we'll discuss the latest in the world of crypto.
Speaker 3: Is bitcoin still hovers near record High's first, let's check
Speaker 3: in on the broader markets. Maybe just a little of
Speaker 3: profit taking today. Maybe we see the ECB over in
Speaker 3: Europe actually cut rates but signal that maybe inflation pressures
Speaker 3: are here to stay. We've got jobless claims actually showing
Speaker 3: that they're higher than anticipated, but all eyes on non
Speaker 3: farm payrolls tomorrow. So at the moment we're just cautious.
Speaker 3: Ahead of those numbers. We're trading flat on the Nasdaq. Interestingly,
Speaker 3: in Vidia just offer that three trillion dollar market count
Speaker 3: just at this very moment, but it did eclipse it yesterday.
Speaker 3: Ed we'll go into that in a moment. Tenure yield
Speaker 3: currently just pushing up two basis points. Bonds selling off
Speaker 3: globally after the ECB does cut but still warns us
Speaker 3: that they've got to have a restrictive policy for longer
Speaker 3: to try and catail inflation. That means euro is actually
Speaker 3: just that little bit higher versus the US dollar. At
Speaker 3: the moment, we're up a tenth of a percent, as
Speaker 3: maybe we don't anticipate rate cuts coming for the ECB
Speaker 3: until at least pushing out now to maybe September. Move on,
Speaker 3: have a look at what's happening in the world of crypto.
Speaker 3: We're going to focus in on bitcoin a little bit
Speaker 3: later in the show. We've had a little bit of volatility,
Speaker 3: but we're up three tens percent, seventy one thousand, still
Speaker 3: at that very high level, near record highs. Well, we'll
Speaker 3: get to one hundred thousand by the end of the year.
Speaker 3: That's what one key investor has been saying. And what
Speaker 3: are you watching.
Speaker 2: Let's talk about in video gen sanity, the phrase coined
Speaker 2: for the enthusiasm. Let's say of markets about Nvidia's CEO. Look,
Speaker 2: this is a clear pullback, the stocks down a percentage point.
Speaker 2: As you said, we touched three trillion dollars in market cap.
Speaker 4: We are going to get into it.
Speaker 2: We've be most just menting about valuations, comparisons against other
Speaker 2: peers on the S and P five hundred waitings are
Speaker 2: really important.
Speaker 4: But Apple's flat.
Speaker 2: I put that up as a precursor to my next
Speaker 2: chart with Meta the best.
Speaker 4: Performer on then as that one hundred from a points.
Speaker 2: Perspective, because this is all we care about right now.
Speaker 2: Let's bring up the terminal chart and look at Nvidia's
Speaker 2: market cap relative to Apple. It is so close right now,
Speaker 2: Apple just to touch above three trillion, in Vidio just
Speaker 2: to touch below three trillion.
Speaker 4: It was briefed, it was short lived.
Speaker 2: But the point is is that in Vidia's only need
Speaker 2: a third company to reach three trillion dollars of market
Speaker 2: cap and it's it's the first ever semiconductor name or
Speaker 2: chip maker to do. So let's get into it, Carol,
Speaker 2: Let's talk about on which metric we decide if this
Speaker 2: is fair, if it's a good idea, or if it's not.
Speaker 3: And longer term, whether you keep on buying into this
Speaker 3: stock just mentens with us. Of course, a blue Megan.
Speaker 3: We just have that perfect setup for men telling us
Speaker 3: once again Apple is back just pipping the post as
Speaker 3: number two, but Emidia has just hit that landmark.
Speaker 5: It's all psychological, isn't it.
Speaker 3: It really is, and in many ways, so too is
Speaker 3: a stock split to psychological.
Speaker 5: What's driving us here.
Speaker 6: Well, not surprisingly because it is the stock split driving
Speaker 6: this moving higher ahead of that because Monday is when
Speaker 6: the official stock split goes into effect. But something that's important,
Speaker 6: to be an official shareholder before the ten for one
Speaker 6: stock split, you actually have to be a shareholder today
Speaker 6: by the close of trading in order for that to work.
Speaker 6: So it's interesting dynamic that we saw this huge run
Speaker 6: up and now the stock's selling off a little bit.
Speaker 6: Not surprisingly we just did. To your point, Caroline, see
Speaker 6: that three trillion mark yesterday as well. If you look
Speaker 6: at the Philadelphia Semiconductor Index, obviously it houses other stocks
Speaker 6: like AMD, Intel Micround Technology also down about one percent today.
Speaker 6: But again to Ed's point, when you're thinking about valuations
Speaker 6: versus the stock move that we've seen here, and also
Speaker 6: talking about Apple, Caroline, if you think about that April
Speaker 6: nineteenth low that we saw in Apple stock that stucks
Speaker 6: close to about twenty percent higher in that span. It's
Speaker 6: only about two percent off of that December high record.
Speaker 5: But when you do look at Nvidia.
Speaker 6: In that span, that stocks up from that April nineteenth
Speaker 6: low for Apple though in comparison, and Videos up more
Speaker 6: than sixty percent. So which one was the better stock
Speaker 6: to buy? But again, Apple does have that fundamentals behind
Speaker 6: it when you think about the buybacks for a company
Speaker 6: like this.
Speaker 4: Ed it's like one of those things.
Speaker 2: So it's what it's three minutes past eight in San Francisco,
Speaker 2: three minutes past eleven in New York.
Speaker 4: Is in Nvidia bigger than Apple?
Speaker 2: Okay, And that's what we're going to do every day
Speaker 2: from this point because we're so excited about it. But
Speaker 2: the actual reason that I showed this sort of in
Speaker 2: the moment session trading is an important one, which is
Speaker 2: that start of the year in Vidia had I think
Speaker 2: about a three percent waiting on the S and P
Speaker 2: five hundred. It's doubled to about six or more than
Speaker 2: six percent waiting. And we talked earnings about how in
Speaker 2: video's earning it's like a macro level event. My point,
Speaker 2: Jess is like it impacts a lot of people right now,
Speaker 2: what happens within Vidia.
Speaker 6: It does, especially when you were talking about this stock
Speaker 6: now being the second largest waiting in the S and
Speaker 6: P five hundred, and something that's interesting about this even
Speaker 6: though we did see it eclipse Apple's market cap yesterday,
Speaker 6: earlier in this week, if you use the MEMB function
Speaker 6: for the S and P five hundred in the terminal,
Speaker 6: you would have seen and Videos waiting higher than Apples,
Speaker 6: but still its market cap wasn't crossing the threshold over Apple.
Speaker 6: And the reason is because actually it has to do
Speaker 6: with float adjusted type shares. So Apples float adjusted, it's
Speaker 6: actually ninety four percent, whereas the other six percent, for instance,
Speaker 6: is held by institutional big investors like say Warren Buffett,
Speaker 6: whereas in VideA or even Microsoft, those are one hundred
Speaker 6: percent not adjusted. So there's a little bit of a
Speaker 6: divergence there sometimes when you're looking in the terminal, and
Speaker 6: if you saw a divergence at the beginning of this
Speaker 6: week versus what the waiting was, and we're kind of
Speaker 6: scratching your head wondering why in Video's market cap wasn't
Speaker 6: bigger than that. But that's something else that imic when
Speaker 6: you're thinking about sort of the size and scope for
Speaker 6: a lot of these companies and why you're seeing discrepancies.
Speaker 6: There's sometimes in the data.
Speaker 2: And we await that ten for one stock split, which
Speaker 2: will be an interesting moment. Blue most test meant and
Speaker 2: thank you very much. Let's go up into space SpaceX's
Speaker 2: massive starship rocket blasted off on its fourth major test
Speaker 2: flight as the company makes or works to make the
Speaker 2: vehicle operational, reusable, and ready for regular space trips. I
Speaker 2: want to bring in Bloomberg intelligence analyst and fellow space
Speaker 2: nerd Matt Bloxham for this. I mean, loads of our
Speaker 2: audience are asking me all morning because we carried the
Speaker 2: launch live hold on the booster got dumped in the
Speaker 2: Gulf of Mexico. Starship spacecraft got dumped a controlled splash
Speaker 2: in the Indian Ocean. But really, I think the story here, Matt,
Speaker 2: is the data that's gathered from the process, and that's
Speaker 2: what was important for SpaceX.
Speaker 7: Yeah, that's right. And actually one of those words you said,
Speaker 7: they're controlled, is really important too, that you know these
Speaker 7: were controlled re entries and kind of splash landings for
Speaker 7: both parts of the asset, and I think that's really important.
Speaker 7: I think what we've seen in the previous launches is
Speaker 7: very big fire explosions, you know, which is meant they've
Speaker 7: not quite delivered what they hope to in those tests.
Speaker 7: And also it's added delays to getting approval from the
Speaker 7: FAA to do the next test launch. And you know
Speaker 7: that they've got this ambition to launch people on a
Speaker 7: man mission to the Moon sometime ho or after September
Speaker 7: twenty twenty six, so they want to kind of get
Speaker 7: anywhere close to that. They need to be doing these
Speaker 7: tests very frequently and getting success. So I think the
Speaker 7: fact that it was not perfect but close to perfect
Speaker 7: in terms of the objectives, I think will help them
Speaker 7: to kind of speed up those tests and move towards
Speaker 7: that objective.
Speaker 3: I mean, clear focus of congratulations coming from or the
Speaker 3: guy who of course ultimately leads this business long term,
Speaker 3: whether it's on a day to day basis ed or
Speaker 3: must saying so many tiles and damaged flat starship made
Speaker 3: it to the way to a soft landing in the ocean.
Speaker 3: This incremental need for improvement. How costly is that map?
Speaker 4: Very costly? You know?
Speaker 7: This is that this program is kind of running into
Speaker 7: kind of billions of billions of dollars, but they've got
Speaker 7: multi billion dollar contracts with NASA, and also NASA is
Speaker 7: a really important client for THEIRS in terms of taking
Speaker 7: US astronauts back to the Moon. But also this program
Speaker 7: is really important for the Starlink business, which is their
Speaker 7: low Earth orbit satellite business, which has a huge number
Speaker 7: of customers now maybe approaching three million, and they want
Speaker 7: to use the Starship Rocket to send more and more
Speaker 7: of those satellites up into low Earth orbit over the midterms.
Speaker 7: So you know, it's important both the NASA and it's
Speaker 7: also important for the SpaceX business as a whole, particularly Starlink.
Speaker 3: I love bringing the contextualization there. Matt Bloxam, We thank you,
Speaker 3: Bloomberg intelligence analyst and fellow space geek. Meanwhile, our attention
Speaker 3: to China for a moment. Ali Baba, the president Corosine,
Speaker 3: speaking exclusively with bluebog Tiv's animal drulers, about China's economy,
Speaker 3: about tariff impacts on smooths and medium sized enterprises on
Speaker 3: its platforms, but also about how the company is incorporating
Speaker 3: as well.
Speaker 5: AI take a listen.
Speaker 8: This year we're tagting on two parts. The first part
Speaker 8: is about the AI, so you know AI GC the
Speaker 8: generous AI actually is one of the biggest kind of
Speaker 8: breakthrough for the technology. And using AI in global trade
Speaker 8: actually is one of the perfect user scenarios. So so
Speaker 8: many use cases that we can help improve efficiency for
Speaker 8: the sellers. We can help their efficiency how to post
Speaker 8: product to the marketing, to communications buyers and as well
Speaker 8: as to manage their business to see datas and we
Speaker 8: are using the technology to help the seller as the
Speaker 8: buyers as well. So previously the buyers using Alba dot
Speaker 8: com as a sourcing engine, all the help of AI,
Speaker 8: this is kind of a creativity engine for the buyers.
Speaker 8: We can help them to generate a product which can
Speaker 8: fit their imagination and we can use the agent to
Speaker 8: help them to source, to connect and treat it as
Speaker 8: the red partners. All this kind of technology can load
Speaker 8: a buyer for the seer and the buyers.
Speaker 2: That was Ali Baba president quote Jim watching shares also
Speaker 2: at Mayswe and another Chinese name is we had to
Speaker 2: break ear needs to be expectations topline grow twenty five percent,
Speaker 2: but the company also expanding to new markets the Middle East.
Speaker 2: Looking at Europe and other parts of Asia. Its first
Speaker 2: fora outside of its domestic market in China. Interesting, be
Speaker 2: right back, this is Bloomberg technology.
Speaker 9: If we take out the seventy three thousand in the
Speaker 9: next week or so, we're gonna have the year one
Speaker 9: hundred thousands. Somewhere around there were even higher markets work.
Speaker 9: They create ranges. When the ranges, the top of the
Speaker 9: range breaks, you know, you have a nice extension. And
Speaker 9: so you know at the bottom of that range was
Speaker 9: started around forty, so forty to seventy.
Speaker 3: This seventy goes to one hundred old calls coming from
Speaker 3: Galaxy Digital CEO Mike novograts his outlook for bitcoin as
Speaker 3: it just hovers still near that record, joining us for now.
Speaker 5: Of what fundamentally or not fundamentally is.
Speaker 3: Pushing at higher Edify editor in chief Lara Kriga, and
Speaker 3: it's great to have some time with you, Lara. And
Speaker 3: there has been this focus that at the moment, the
Speaker 3: political sudden tailwinds in the US aren't being baked in
Speaker 3: to crypto's price points right now.
Speaker 5: Do you agree that's.
Speaker 10: A good question.
Speaker 11: I do think that politics has played at least some
Speaker 11: role here, right So this is one of the few
Speaker 11: issues crypto investing and cryptocurrency on which we finally have
Speaker 11: bipartisan congressional support, which as you know, is very much
Speaker 11: not easy to find these days. So you know, I
Speaker 11: do think politics plays a role here, but not the
Speaker 11: entire role, right, Like there's there's also enthusiasm around the
Speaker 11: finally getting the access to spot bitcoin ETFs and advisors
Speaker 11: and institutions graving to that, gravitating to that in that vehicle,
Speaker 11: and also there's interest and excitement around the spot ethereum
Speaker 11: etf potential of that coming to market and when is
Speaker 11: that going to come? And that's the next new hot topic, right.
Speaker 2: You know, Laura, it's a presidential election year, right, And
Speaker 2: all of your industry participant colleagues that come on this
Speaker 2: program say, you know, we love engaging with Congress, in
Speaker 2: particular in Europe with regulators. But it's interesting that crypto
Speaker 2: has become a point of policy. You know, there's the
Speaker 2: reporting that former President Trump's very focused on crypto as
Speaker 2: a platform.
Speaker 4: What impact do you think that will have?
Speaker 11: I think it's helping to drive the conversation forward, for sure.
Speaker 11: You know, we're whereas eighteen months ago, twenty four months ago,
Speaker 11: politicians could sort of afford to let it lie, and
Speaker 11: maybe it felt like it was a little too toxic.
Speaker 11: The Overton window has shifted a little bit. Now there's
Speaker 11: no ignoring the reality that we need consistency, we need
Speaker 11: clarity on these markets, and you know it's time to
Speaker 11: start having those conversations. So I think that Trump coming
Speaker 11: out very much in favor of bitcoin has sort of
Speaker 11: helped force the conversation to the forefront. Regardless of where
Speaker 11: you stand on the political issue.
Speaker 3: Of it, you might be getting some clarity, you're not
Speaker 3: getting consistency. It seems to be slow, slow, slow, all
Speaker 3: at once when it comes to SEC approvals. And I'm
Speaker 3: interested therefore whether we get upended with other types of
Speaker 3: spot ets, So whether really we do the ether one
Speaker 3: and stop.
Speaker 11: That's a great question, is the one very much top
Speaker 11: of my mind. So you know, the SEC a few
Speaker 11: weeks go approved this special filing from stock exchanges that
Speaker 11: allows them to kind of change their rules and list
Speaker 11: spot etherrough ETFs. But that's not the same thing as
Speaker 11: approving individual funds, although it is a necessary first step.
Speaker 11: So now the SEC has the task ahead of it
Speaker 11: of actually assessing and approving the individual ETF filings, so
Speaker 11: you know that's going to take some time. The that's
Speaker 11: actually SEC head Gary Gensler's where it's not mine. So
Speaker 11: you're going to see the issuers begin to update their filings,
Speaker 11: and that process does take some time and is already
Speaker 11: beginning to happen. So you know, the the timeline might
Speaker 11: be compressed from weeks instead of you know, usually months.
Speaker 4: Edify editsor in chief Lawer Kriger, thank you.
Speaker 12: This is still a bit of a novelty. Most people
Speaker 12: driving next to us have never seen one of these.
Speaker 2: This is a robotaxi from Zoos, an autonomous ride hailing
Speaker 2: company owned by Amazon. It has no steering wheel, no pedals,
Speaker 2: and four inward facing seats. It's now running on a
Speaker 2: five mile loop in Las Vegas, across three lane roads,
Speaker 2: unprotected turns, and in mixed traffic at speeds of up
Speaker 2: to forty five miles per hour.
Speaker 12: We really wanted to feel like you're being driven by
Speaker 12: a very safe, expert human driver.
Speaker 2: Zooks rover taxi runs on software trained on millions of
Speaker 2: miles gathered by test vehicles. It's also packed with sensors, cameras,
Speaker 2: led our radar, and temperature probes which generate a full
Speaker 2: picture of the world around it in real time. It's
Speaker 2: bidirectional with a battery electric drive unit at each end.
Speaker 2: On our left hand side, there was cones and warnings
Speaker 2: and we cut across two lanes of traffic.
Speaker 12: And the map probably didn't have those cones in it.
Speaker 12: But we have to be able to detect anything that's
Speaker 12: changed in real time and then adjust our plans accordingly.
Speaker 2: Zoos wants to prove its tech works on the outskirts
Speaker 2: of Vegas before launching in the city as its first
Speaker 2: commercial market. There were US agencies now looking at Zookes's
Speaker 2: self driving tech after two incidents with test vehicles. One
Speaker 2: of Zookes's main competitors is Alphabet's Weimo, which uses retrofitted
Speaker 2: cars for its autonomous ride hailing. While GM's Cruise has
Speaker 2: recently scaled backplans and testing of its own purpose built
Speaker 2: origin robotaxi, zooks has been deliberately cautious about when a
Speaker 2: commercial service will launch. Expansion to San Francisco for the
Speaker 2: true robotaxi is in the works, but right now Zookes
Speaker 2: can claim to be the only operator of a purpose
Speaker 2: built robotaxi allowed to give rights on public roads in America.
Speaker 2: So it really is a first carr at least in America,
Speaker 2: a fully autonomous but purpose built robotaxi, right, no steering wheel,
Speaker 2: no pedals on real public roads. That wasn't a controlled test.
Speaker 2: It was a real one in the real world with
Speaker 2: real traffic. And the news is that that will be
Speaker 2: available to the public maybe by the end of this
Speaker 2: year December, or at least the start of next year,
Speaker 2: even if it's in a limited number of miles of road.
Speaker 5: Feels like a lot of firsts. But people other companies
Speaker 5: hot in their hills.
Speaker 2: Yeah, I mean, what's interesting about it is the Tesla
Speaker 2: components this right, we know that robotaxi is coming in
Speaker 2: August in some shape or form, and maybe that's Elon acknowledging.
Speaker 4: That Zooke's got it right.
Speaker 2: Cruisers pulled back its plan for basically the same thing,
Speaker 2: and Weymo's not really doing it. What's extraordinary is like
Speaker 2: the real world. So in that example, it was traffic, cones,
Speaker 2: closed lanes, but there are some other things that it
Speaker 2: can handle as well.
Speaker 4: Listen to this.
Speaker 1: I've really stayed away from the race. And you know Carlin,
Speaker 1: who has bold position and who doesn't. There's so much
Speaker 1: nuance in this industry. What I will tell you is
Speaker 1: that Zeus has even more conviction in the path that
Speaker 1: it's chosen.
Speaker 5: And it is believed that.
Speaker 1: It chose it and had the courage to do it
Speaker 1: and to stay on course.
Speaker 4: So just real quick.
Speaker 2: What's interesting is like Icerevin's really impressive CEO, spend a
Speaker 2: lot of time at Intel before zokes.
Speaker 4: She just won't exaggerate.
Speaker 2: She doesn't do the musk thing of like this is
Speaker 2: happening at this timeline, We're going to make loads of
Speaker 2: money and that could be frustrating. But it's kind of
Speaker 2: like hair in the tortoise scenario where Zookes was the
Speaker 2: tortoise and it's come from.
Speaker 5: Behind shock horror.
Speaker 3: Soone actually telling it as it is rather than a
Speaker 3: little bit of an ambitious sprinkle. But what is ambitious
Speaker 3: is the fact that it's gone on to the real world,
Speaker 3: real life. What sort of things did you come up
Speaker 3: against when in real traffic?
Speaker 2: Yeah, I think it's that human drivers are kind of
Speaker 2: erratic and sometimes you don't know what's going to happen. Yeah,
Speaker 2: and me as well, And sometimes something might drop out
Speaker 2: of the sky or a food truck gets in your way.
Speaker 4: Listen to this.
Speaker 1: There's a truck in front of us and it's happened
Speaker 1: to be a food truck and tackle plates started flying
Speaker 1: out of it. It basically looked at it. I saw
Speaker 1: them slowed down and say, hey, I'm seeing stuff coming.
Speaker 1: And then it had to make a decision as to
Speaker 1: this is debris. Is it strikaable debris or not strikable
Speaker 1: debris and so but it looked on the next lane
Speaker 1: and said that, oh, I have space there and just
Speaker 1: went on around it then moved on.
Speaker 2: So literally, the zooks was driving food truck in front.
Speaker 2: The doors come out the back of the food truck
Speaker 2: and tacos and plates fly out, and the Zookes didn't panic.
Speaker 5: It just plowed from some tacos.
Speaker 2: Yeah, exactly exactly. Anyway, that was the experience. Check it
Speaker 2: out dot com. Another big story today, the Foundering podcast
Speaker 2: is back. In this astallment Our Bloomberg reporters take a
Speaker 2: look at open Ayes. Sam Outman from founding a startup
Speaker 2: at nineteen to running y combinat at age twenty nine.
Speaker 2: The CEO behind chat GPT is the most Silicon Valley
Speaker 2: man alive. I want to bring in Bloomberg's Ellen Hewitt
Speaker 2: give us just the broad introduction to this version of
Speaker 2: Foundering and what we learn about.
Speaker 10: Sam totally So Foundering is this is in our fifth season.
Speaker 10: It's a narrative podcast in which we tell one story
Speaker 10: every season. It's a story of a high stakes drama
Speaker 10: in Silicon Valley, and this season we decided to go
Speaker 10: deep on Open AI and it's in particular Sam Altman,
Speaker 10: their leader, and I think you know what listeners can
Speaker 10: expect over the five episodes is really like an analytical
Speaker 10: arc of where did Sam come from? How did he
Speaker 10: rise to power? What are some of the strategies that
Speaker 10: he's used over the course of his career to accumulate
Speaker 10: the kind of power that he has now, and what
Speaker 10: I consider the key question of the series, should we
Speaker 10: trust him? Should we trust this person, especially after the
Speaker 10: events of last November, which, as we all remember, he
Speaker 10: was fired from his seat as the CEO and then
Speaker 10: within five days was back.
Speaker 3: Yeah, And well it's notable is I think Sam actually
Speaker 3: told EMONI Chang back at the Tech summit.
Speaker 5: A year and over a year ago, don't trust me? Right?
Speaker 3: There is the ability to ouse me and we saw
Speaker 3: that happen in real time, and then who are some
Speaker 3: of the people that he's worked to alongside. It's interesting
Speaker 3: that in particular, Pool Graham took to x recently posting
Speaker 3: this is the truth about how he left Y culminated
Speaker 3: for example, getting any clarity.
Speaker 10: Well why Sam's relationship with Paul Graham is a perfect
Speaker 10: example of how Sam has accumulated power over the course
Speaker 10: of his career. He even as at a very young age,
Speaker 10: you know, really won over Paul Graham, and when he
Speaker 10: joined Y Combinator at nineteen, and Paul went on to
Speaker 10: elevate Sam, you know, writing all these very effusive blog
Speaker 10: posts about how great a leader he is, and then
Speaker 10: you know, in twenty fourteen, hands selecting him to be
Speaker 10: his successor at Y Combinator, and you know, Sam goes
Speaker 10: on to make these partnerships with you know, very powerful
Speaker 10: people such as Elon Musk when Elon you know, agreed
Speaker 10: to fund open Ai and then later when Elon left
Speaker 10: and Sam needed more money with Satya Nadella so that
Speaker 10: you know, open Ai could continue to get money.
Speaker 5: And so we do try to track.
Speaker 10: Like where he has really.
Speaker 13: Made these decisions and what to do with the power
Speaker 13: that he has. Now it is a heavy burden, I'm sure.
Speaker 13: And you go into family life as well. It's going
Speaker 13: to be extraordinary. Listen, I can't wait to get into
Speaker 13: the first episode. Blue Meg's Ellen hewittt we thank you.
Speaker 13: Check out the Foundering podcast now.
Speaker 3: On the terminal and wherever you get your podcasts. Welcome
Speaker 3: back to Blue Meg Technology. I'm Caroline Hide in New York.
Speaker 4: And I med love Low in San Francisco. Carriage. Just
Speaker 4: a really quick check in on the markets.
Speaker 2: This is kind of the broad picture in the United States,
Speaker 2: and that's that one hundred is as flat as a pancake.
Speaker 2: US tenure yelds creeping just a little higher four point
Speaker 2: two eight percent, and as you we've noted and actually
Speaker 2: we're now hiring the session half percentage point on bitcoin,
Speaker 2: but we're hovering at that record level around seventy one
Speaker 2: seventy two thousand US dollars per token. The equity story
Speaker 2: is basically in Vidia. You know, we were very excited,
Speaker 2: we talked about how it hit three trillion dollars of
Speaker 2: market cap. Actually during the course of this pro the
Speaker 2: pullback has accelerated down one point eight percent. But the
Speaker 2: big picture is now that in Video is such a
Speaker 2: big waiting on the S and P five hundred more
Speaker 2: than six percent, and there is so much gensanity or
Speaker 2: whatever you want to call it, fanfare around Jensen Huang.
Speaker 4: There wasn't actually any real.
Speaker 2: News catalyst about its products or its use case in
Speaker 2: the real world, driving the stock into pullback from that
Speaker 2: three trillion dollar market cap mark, of which it was
Speaker 2: the first chip name to achieve.
Speaker 4: It the third of.
Speaker 2: All time to hit three trillion dollars in market cap,
Speaker 2: and I suspect we shall continue to talk about it
Speaker 2: for many months to come.
Speaker 3: We will, and we're going to talk about who holds it,
Speaker 3: because it's time for talking tech and first up arc investments.
Speaker 3: Kathy would As actually saying they're well positioned in artificial
Speaker 3: intelligence despite having trimmed their own video position. In a
Speaker 3: video interview over in Hong Kong, Wood say that her
Speaker 3: firm still owns in Video in specialized portfolios and in
Speaker 3: its flagship fund, even though she sold out most of
Speaker 3: her position before that enormous rally last year. Plus US
Speaker 3: regulators whi they're investigating Microsoft over a possible Aqua Hied
Speaker 3: deal for an AI startup now that's according to The
Speaker 3: Wall Street Journal In March.
Speaker 5: Remember, Microsoft degree to.
Speaker 3: Pay six round fifty million dollars to license the artificial
Speaker 3: intelligence software from the startup Inflection, with Microsoft moving to
Speaker 3: actually hire most of their staff. The deal now faces
Speaker 3: regulatory scrutiny for resembling basically what looks like a larger
Speaker 3: company sometimes do of taking over startups without an acquisition.
Speaker 3: And US federal regulators have reached a deal that will
Speaker 3: allow them to proceed with anti trust investigations of Microsoft,
Speaker 3: Open Ai, and Nvidia. Under the agreement, the US Justice
Speaker 3: Department will take the lead in investigating whether in Video
Speaker 3: violated anti trust laws. Meanwhile, the FDC will lead in
Speaker 3: examining the conducts of open Ai.
Speaker 2: Okay, this is a name that made a big impact
Speaker 2: earlier in the year. Cognition AI is trying to make
Speaker 2: software engine easier, in engineering easier, but with AI, the
Speaker 2: startup is building collaborative AI teammates for engineers so they
Speaker 2: can focus on more interesting tasks, and they dubbed their
Speaker 2: own AI agent, Devin As the first AI software engineer.
Speaker 2: Delighted to say that Commission AI CEO and co founder
Speaker 2: Scott Woods with us in San Francisco. You're somebody that
Speaker 2: spits your time San Francisco and New York. We're going
Speaker 2: to talk a lot about New York. But when you
Speaker 2: guys kind of I guess came out of stealth. The
Speaker 2: response was absolutely ginormous. The demo video in the millions
Speaker 2: and millions of views, and your name was everywhere. I
Speaker 2: just want to know in the first instance, what that's
Speaker 2: been like in the last few weeks and months.
Speaker 14: Absolutely, version, thank you so much for having me. I mean,
Speaker 14: it's it's been crazy. No, it's it's been wild and
Speaker 14: ever since the lage and I think you know, we've
Speaker 14: seen a real, real need in the market for this
Speaker 14: kind of technology.
Speaker 2: There's the gaming use case, which I'm going to get
Speaker 2: right to. I'm a massive gamer. I don't know what
Speaker 2: you're playing right now, but I just started playing Resident
Speaker 2: Evil for remake on PlayStation, and I bring that up
Speaker 2: as an a literative example that making video games the
Speaker 2: creation timeline is very frustrating for fans. That seems to
Speaker 2: be something that you think you can help with from
Speaker 2: the engineering perspective.
Speaker 14: Yeah, yeah, So we've seen our customers use Devon for
Speaker 14: all sorts of different use cases. You know full stack engineering,
Speaker 14: data analysis, code migration, and I think in particular, we've
Speaker 14: seen a lot of real use in some of these
Speaker 14: real tedious, repetitive tasks that are often taking human engineers
Speaker 14: a lot of time. And so you know, we we
Speaker 14: have companies who are doing thousand hour projects that are
Speaker 14: now moving five times faster with the help of Devon.
Speaker 5: Scott.
Speaker 3: It feels therefore that you're in the we're augmenting humans.
Speaker 5: Camp rather than replacing them.
Speaker 3: But how much anxiety have you seen Have you talked
Speaker 3: about that this is going to replace people?
Speaker 8: Yeah?
Speaker 14: No, absolutely, I think you know, we're all engineers ourselves
Speaker 14: by training at Cognition, and you know, even ourselves we
Speaker 14: use Devan all the time when we're building Devon, and
Speaker 14: there's really so much more what we see all the times.
Speaker 14: There's just so much more to build, you know, And
Speaker 14: we think the heart of software engineering is is deep
Speaker 14: logical problem solving, and you know, we want to be
Speaker 14: able to help people do more and more of that
Speaker 14: and have to focus a little bit less on some
Speaker 14: of the implementation and the debugging and all of these
Speaker 14: other details.
Speaker 3: I loved how Aired articulated basically the fast worm you
Speaker 3: created when you came out of Stealth and much What
Speaker 3: caught the attention was the money going in twenty one
Speaker 3: million dollars from the likes of Peter Teal's bench Fund,
Speaker 3: but also the fact that there were so few of you,
Speaker 3: just ten in your team.
Speaker 5: How is that scaled? What are you looking to do
Speaker 5: in terms of continue to grow?
Speaker 14: Yeah, yeah, absolutely, no, I mean I think we're still
Speaker 14: very very early and there's a lot more to do.
Speaker 14: We've been looking to go our team, you know, with
Speaker 14: really great technical talent from both New York and the
Speaker 14: Bay Area, and yeah, continuing to scale up and get
Speaker 14: it out to as many customers as we can.
Speaker 3: Okay, let's go there, New York and the Bay Area.
Speaker 3: What is it that New York offers you in terms
Speaker 3: of talent?
Speaker 5: What does the Bay Area?
Speaker 3: How are you thinking about being decentralized or having headquarters
Speaker 3: in certain places?
Speaker 4: Yeah, I think both are Honestly.
Speaker 14: A lot of our team, you know, we have a
Speaker 14: lot of our team from New York and we have
Speaker 14: a lot of our team from the area as well,
Speaker 14: And I think we've seen that having access to talent
Speaker 14: from both locations has been amazing for us.
Speaker 2: Part of the exploration of Actually Vance's story about you
Speaker 2: guys that kind of lifted the lid on cognition. Was
Speaker 2: some mystery about how you did it, how you made.
Speaker 4: So much progress.
Speaker 2: I'm not a computer scientist or a software engineer, but
Speaker 2: was this a case of you guys building your own
Speaker 2: large language model or building on top of other people's
Speaker 2: large language models.
Speaker 4: Just give me the basics of why your thing works. Yeah.
Speaker 14: So Devon is an autonomous agent, and what that means
Speaker 14: is that Devon is able to use all the same
Speaker 14: tools that a human would use. And so, you know,
Speaker 14: if you think about going through a debugging process or
Speaker 14: building a website or things like that, you know you're
Speaker 14: going to be writing code. But at the same time
Speaker 14: you're also going to be running code. You're going to
Speaker 14: be running tests, maybe browsing the web, reading documentation, and
Speaker 14: all the same tools.
Speaker 4: That when would use.
Speaker 14: And we specifically built Devon to be able to work
Speaker 14: with those tools and iterate on top of that.
Speaker 2: Could we talk about money, You know, in the piece
Speaker 2: it says you raised twenty one million dollars through Peter
Speaker 2: Teel and founder is fund. That doesn't seem like very
Speaker 2: much when you consider compute costs. Are you revenue generating
Speaker 2: so you can support yourselves or you're going to have
Speaker 2: to find some more cash?
Speaker 14: Yeah, yeah, absolutely, and so you know, we we actually
Speaker 14: we closed another round just last month, just last month,
Speaker 14: which yeah, yeah, and to bring in a little bit
Speaker 14: less about it all, we raised one hundred and seventy
Speaker 14: five million from a few different funds, primarily from founders
Speaker 14: Fund Kosler and a lard girl.
Speaker 2: You be comfortable disclosing the evaluation.
Speaker 14: Ish, Yeah, the valuation is around two billion.
Speaker 4: Two billion, sorry I interrupted, ke.
Speaker 14: No, Yeah, yeah, so you know, obviously a lot of
Speaker 14: really really great names and it's we're we're super excited
Speaker 14: to have have such such great investors at the table.
Speaker 14: But yeah, as you said, you know, I think this
Speaker 14: money gives us the runway we need to really scale
Speaker 14: up and to size up and to do more.
Speaker 5: So do more, tell us as and when you do.
Speaker 3: Wow, great to have you being so candid about the
Speaker 3: money you're raising and evaluation currently at Congratulations on that
Speaker 3: cognition AI CEO and co founder Scott wou Just great
Speaker 3: to have him in the building. Meanwhile, coming up, we
Speaker 3: turned to New York Tech Week for our VC Spotlight
Speaker 3: Rebecca Caiden, Union Square Ventures with us talk about the
Speaker 3: intersection of Web three in AI.
Speaker 5: This is Bluebog Technology.
Speaker 3: New York Tech Week is still underway right here in
Speaker 3: the big Apple industry. Titans, startups gathering throughout the week
Speaker 3: for events, for panels, conversations, a few rooftop drinks.
Speaker 5: All week long.
Speaker 3: Bluebog Technology has been speaking with these founders and investors.
Speaker 5: Also, the executives.
Speaker 3: Are really discussing how the tech ecosystem in New York
Speaker 3: City is helping them, why they choose to call at home.
Speaker 3: Let's turn our attention to Rebecca Caden, now managing partner
Speaker 3: at Union Square Adventures.
Speaker 5: Probably a little tired from some of.
Speaker 3: The parties and various social events from back up, but
Speaker 3: you've been front running this week but putting out some
Speaker 3: thought leadership just where you're excited to be putting your
Speaker 3: money to work over at us fee.
Speaker 5: It seems to be the intersection of Web three and AI.
Speaker 5: Can you talk us through it? Yeah?
Speaker 15: I mean it's a super exciting time because we're seeing
Speaker 15: two kind of tectonic plates of technology shift at the
Speaker 15: same time, which almost never happens in AI and in
Speaker 15: Web three and AI has massive promise on what it
Speaker 15: can do, but it relies on a reorganization of data
Speaker 15: and for its full promise to be met. We think
Speaker 15: that will most happen if it has access to data
Speaker 15: in new ways, and one of the most likely ways
Speaker 15: that could happen is through a Web three architecture. If
Speaker 15: you think about it, if we all own our own
Speaker 15: data versus it being locked up in large platforms. As
Speaker 15: new agents and exciting experiences were built on top of AI,
Speaker 15: it could dip into our data wells, if you think
Speaker 15: about it like that, reuse it and create these magical
Speaker 15: personalized experiences. And we think both AI and Web three
Speaker 15: on its own have massive potential to do very exciting things.
Speaker 15: But the place where they intersect might create kind of
Speaker 15: the most exciting new energy.
Speaker 3: That feels I'm going to take some time, Rebecca, And
Speaker 3: that's sort of the issue here. We will get the hype,
Speaker 3: the evaluation, exuberance, the idea that we're at this cusp
Speaker 3: of a new beginning to basically move to more of
Speaker 3: a Web three architecture and to own our own data.
Speaker 5: That's going to take some years.
Speaker 15: Right, absolutely, I think, and both AI and Web three
Speaker 15: we think will fundamentally change much of what we do,
Speaker 15: particularly online or on chain, but both are on their
Speaker 15: own timelines and will take time. That being said, they've
Speaker 15: been being worked on for quite a long time. Neither
Speaker 15: of them are brand new, and we think some pieces
Speaker 15: are more likely or happening faster than they've ever had before.
Speaker 15: If you think about the ability to send capital cross border,
Speaker 15: Web three is enabling that in a way it really
Speaker 15: hasn't been able to before. The ability to build on
Speaker 15: top of that is really escalating, and certainly we're seeing
Speaker 15: it in AI too. So yes, it's not going to
Speaker 15: happen tomorrow, but the pace of change an opportunity here
Speaker 15: is very high.
Speaker 2: Hey, Rebecca Zad in San Francisco, can we just take
Speaker 2: what what you've just explained and apply it to New
Speaker 2: York for New York Tech Week, you know what's changed
Speaker 2: for the city in that respect in the last twelve
Speaker 2: months or so.
Speaker 4: Yeah.
Speaker 15: Look, I think New York is an extremely exciting place
Speaker 15: to be building right now. New York has always been
Speaker 15: an epicenter for Web three. Crypto has always found a
Speaker 15: home here, but it's also a great place to build
Speaker 15: when you're intersecting technology and industry when you're really talking
Speaker 15: about the application layer, and that's really what we are
Speaker 15: talking about here. We're talking about what can be built
Speaker 15: on top of these new technologies versus the kind of
Speaker 15: underlying technology itself. And New York is a center of
Speaker 15: industry and so a lot of that is going to
Speaker 15: happen here and we're really seeing it.
Speaker 2: We were just speaking with Cognition Scott Wu and he
Speaker 2: was explaining the most recent round they did, right one
Speaker 2: hundred and seventy five million, I think he said at
Speaker 2: a two billion dollar valuation, but that was basically like
Speaker 2: their Series A or B. You know, what does that
Speaker 2: tell you as an investor that's trying to occupy similar
Speaker 2: spaces and write checks in that domain?
Speaker 15: You know, I think what they are doing is amazing
Speaker 15: and there are some really magical things being created. What
Speaker 15: we're looking for is less the magic of technology itself,
Speaker 15: but what it can do. I think increasingly we're in
Speaker 15: a moment where we're really being wowed by tech, but
Speaker 15: increasingly AI is going to be an ingredient versus the
Speaker 15: whole dish. Right when you think about serving customers the
Speaker 15: best healthcare or the optimal financial services, AI is going
Speaker 15: to be a piece of how that is done versus
Speaker 15: the thing itself, and that's where we get excited. And
Speaker 15: I think as that evolves, it's going to create businesses
Speaker 15: versus technology, and that will also kind of shift out
Speaker 15: some of the valuations.
Speaker 3: Just how competitive is it to be writing checks to
Speaker 3: based companies right now? Or indeed do you do you
Speaker 3: sort of agnostic as the way the startup is based.
Speaker 5: And one of valuations more broadly looking like to.
Speaker 15: You at the moment, we are agnostic to where the
Speaker 15: companies are based. We love a New York company. We're
Speaker 15: a New York based firm, and we are super proud
Speaker 15: of what's going on in the ecosystem here. But our
Speaker 15: portfolio is rather global and we're really looking for the
Speaker 15: best opportunities that meet our thesis really all over, you know,
Speaker 15: but a lot of them are happening in New York,
Speaker 15: which is exciting. Evaluations are interesting. They're a little bit
Speaker 15: of a tale of two cities. Right on one hand,
Speaker 15: when you say AI, it's high priced and very buzzy,
Speaker 15: but there's opportunities without that in the headline too that
Speaker 15: are really exciting that we are seeing that we're capital
Speaker 15: is less abundant and so I think it's just it's
Speaker 15: not a steady market and there's a lot of variety
Speaker 15: in it. I think AI is a piece of the
Speaker 15: puzzle of innovation right now, but it isn't the whole thing.
Speaker 2: Rebecca of Union Square Adventures have a great week for
Speaker 2: New York Tech Week. Thank you very much for coming
Speaker 2: on the program.
Speaker 3: Revolt, so leading black owned operated multimedia platform, has just
Speaker 3: announced a new ownership structure, which is now entirely owned
Speaker 3: by its own employees.
Speaker 5: Move comes after its founder and former.
Speaker 3: Chair Sean Combs Diddy, as is known, sold his remaining
Speaker 3: stake in the company amid mounting legal scrutiny. Joining us
Speaker 3: now is Revolt CEO Detavio Samuels. This must have been emotional,
Speaker 3: I can only imagine. And I'm interested in now being
Speaker 3: completely separated, now being disassociated from Diddy.
Speaker 5: What made you decide it was going to be employees
Speaker 5: that should take his shares?
Speaker 16: Yeah, if I'm being fully transparent, this idea of employee
Speaker 16: ownership was a big idea I had coming into the
Speaker 16: business back in twenty twenty. I'm a big believer in
Speaker 16: this idea called linked prosperity, and I've told the team
Speaker 16: since the very beginning that when Revolt wins, we all win,
Speaker 16: and we have executed through that over the course of
Speaker 16: the last four years and everything that we've done, So
Speaker 16: if you want to talk about we've got some of
Speaker 16: the biggest shows with the biggest creators in the world,
Speaker 16: they all have upside participation. We've probably funded somewhere between
Speaker 16: fifty to one hundred entrepreneurs, gave them capital with no
Speaker 16: exchange of equity. And the years when Revolt has been thriving,
Speaker 16: which we've had in amazing last three years, our employees
Speaker 16: have seen the biggest bonuses that they've seen since the
Speaker 16: company was created. And so for us, this was just
Speaker 16: another way to not.
Speaker 4: Just talk the talk, but walk the talk.
Speaker 16: And make the people who give their blood, sweat and
Speaker 16: tears and pour it into this company every single day.
Speaker 16: The opportunity to build wealth.
Speaker 3: Wealth is hard to come by, and media right now,
Speaker 3: how are you doing that?
Speaker 1: Like?
Speaker 5: What is it? Where are the deals being struck?
Speaker 3: Where is the money coming in for people to see
Speaker 3: the upside of the secuity?
Speaker 16: Sure, sure, sure the deals are going to come because
Speaker 16: what we have created space where we believe that we
Speaker 16: own this kind of youth culture opportunity. And so back
Speaker 16: in the days, you've had people who are sat in
Speaker 16: that seat. You've had great companies like a Complex, a
Speaker 16: BuzzFeed of vice that was MTV, that was kind of
Speaker 16: the old guard.
Speaker 4: Today revolts.
Speaker 16: It's squarely in that place. We own youth culture, dominate
Speaker 16: with youth culture, and we do it through a black
Speaker 16: owned lens. And as you know that for advertisers, youth culture,
Speaker 16: that kind of hard to reach minority audience is a
Speaker 16: massive base that they go after. And so in our work,
Speaker 16: we've kind of built the killer app. We are the
Speaker 16: connection to the culture. We connect brands directly to that audience.
Speaker 16: We connect our affiliate partners directly to that audience. We
Speaker 16: partner with the biggest brands in the world, from the
Speaker 16: Walmarts to the Amazons, to the Targets, you name it.
Speaker 16: And through that we believe we'll be able to take
Speaker 16: this brand to what I'm hoping to be the next
Speaker 16: Black Unicorn. It's time for another billion dollar black owned business.
Speaker 4: Did Tavia good morning. Look.
Speaker 2: In my career, I've covered this scenarios times where the
Speaker 2: founder or figurehead of a company goes into crisis and
Speaker 2: he leaves and the startup or company tries to move
Speaker 2: past that move on, but in most cases thinking for example,
Speaker 2: like the ev company Niklar I covered, the product remains
Speaker 2: the same. Right, you guys want to do the same thing.
Speaker 2: Do you feel like you're going to have to change
Speaker 2: the offering or rethink any of the strategy or you
Speaker 2: can just continue the way you are going.
Speaker 16: No, I absolutely believe that we can continue the strategy
Speaker 16: and the way that it is. We have said from
Speaker 16: the beginning that the vision and the mission is not
Speaker 16: going to change. We exist to shift in narrative for
Speaker 16: black people globally. The need for that is not changed.
Speaker 4: The mission.
Speaker 16: How We're going to do that by building the world's largest,
Speaker 16: most powerful black storytelling engine on the planet. That's not
Speaker 16: going to change. And we do that by partnering with
Speaker 16: some of the dopest creators who shape culture in the world.
Speaker 16: That strategy is the perfect strategy for this moment. While
Speaker 16: a lot of people might see the disassociates disassociation from
Speaker 16: Sean Colmes as a big thing, our truth is Shawn
Speaker 16: Holmes has never been involved in the day to day
Speaker 16: since I've been there. So the team that you see,
Speaker 16: the vision, you see the strategy that you see, all
Speaker 16: the work that you see has been done by the
Speaker 16: incredible management management team that's there and the incredible employee
Speaker 16: base that's there. And so for us, there's no need
Speaker 16: to change. It's just time for us to dream bigger
Speaker 16: and dream blacker.
Speaker 2: Okay, detail very I'd love to talk about the day
Speaker 2: to day. So you're the CEO, but it's an employee
Speaker 2: ownership structure.
Speaker 4: Whose boss is who? Who reports to who?
Speaker 16: Well, right now the company is being board managed. We
Speaker 16: are minority controlled, and so I sit on the board.
Speaker 16: There's the voice and as a representative for the company
Speaker 16: and for the employees, making sure that whatever our needs are,
Speaker 16: whatever our demands are, whatever our hopes and dreams are,
Speaker 16: that those things are represented at the board level so
Speaker 16: that we can get them done for our employees.
Speaker 5: Tough question, how much did he get paid for the shows?
Speaker 16: So you know we're a private company and so I'm
Speaker 16: not allowed to disclose any of that.
Speaker 3: There's going to be some reallocation obviously, you've got to
Speaker 3: decide who gets what money as where they sit in
Speaker 3: the corps structure. Getting real, this must have been an
Speaker 3: incredibly difficult time for those working at revolt, and I'm
Speaker 3: wondering how you've helped support those that work there, because
Speaker 3: this has been tough for anyone who loved the music,
Speaker 3: who love the culture, and indeed now feels associated in
Speaker 3: some way.
Speaker 16: Yeah, you one hundred percent right that the last six
Speaker 16: months have not been easy for this team at all.
Speaker 16: But what I would say is, I'm so proud of
Speaker 16: this team. This is a team that is resilient, that
Speaker 16: is committed, that is loyal, and what we have just
Speaker 16: done is shown the entire world publicly that we are
Speaker 16: battle tested. And so now I'm excited for this team
Speaker 16: to show where the battle tested team can really really do.
Speaker 4: Now.
Speaker 16: Of course, along the way, we did the things that
Speaker 16: we think you have to do as empathetic leaders to
Speaker 16: take care of your teams, and this was you know,
Speaker 16: regardless of whether this is a Sean Combs headlines allegations
Speaker 16: crisis or whether it was something else, We're always going
Speaker 16: to do what's best by our teams, and so whether
Speaker 16: that means our ergs have gone into action to support
Speaker 16: one another. There have been moments in times where we
Speaker 16: have brought therapists in to do group therapy individual therapy.
Speaker 16: The groups have gotten together to do wellness community events.
Speaker 16: But this team is just stuck by each other, supporting
Speaker 16: each other through it all.
Speaker 5: And I just couldn't be.
Speaker 16: More proud, more humbled, and more honored to lead this incredible,
Speaker 16: amazing team at.
Speaker 3: Revolve Daytavia, come back, tell us how the journey continues.
Speaker 5: We appreciate it. Thank you, see Dytavio. Samuel's there meanwhile,
Speaker 5: that does it for this.
Speaker 3: Edition of Bloomberg Technology ed another wellwind of space meets valuations
Speaker 3: meants corporate culture.
Speaker 2: Yeah, it was cool like talking robotaxis, rockets, media, entertainment
Speaker 2: and video always in video at the moment. You know,
Speaker 2: it just shows how much momentum our world has got.
Speaker 2: To recap everything on the podcast. You know exactly where
Speaker 2: to find the pod Apples a fire, iHeart and all around.
Speaker 4: The Bloomer verse, promesself in New York. This is Bloomberg
Speaker 5: Mm hm