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Speaker 1: From the heart where innovation, money and power Collie in

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Speaker 1: Silicon Valley, NBN. This is Bloomberg Technology with Caroline Hyde

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Speaker 1: and Ed Ludlove.

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Speaker 2: I'm Caroline Heine blumgg's world headquarters in New York. Ed Ludlow,

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Speaker 2: He's off today. This is Bloomberg Technology. Coming up, we

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Speaker 2: will go live to the Manhattan Federal Courthouse where the

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Speaker 2: opening arguments are set to begin for Sam Mcmanfreed's historic

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Speaker 2: Ford trial. Will have the latest for us. We'll talk

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Speaker 2: investing in generative AI with a key hedge fund investor.

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Speaker 2: And of course we're going to go live to Alphabet's

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Speaker 2: Made by Google event as the company takes on Apple

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Speaker 2: with a new pixel that's well more like an iPhone.

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Speaker 2: But let's go back to the crypto story today. Because

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Speaker 2: it is a historic moment. A jury has been selected.

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Speaker 2: Opening arguments are set to start today for Sam batman

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Speaker 2: Fried's trial, where he's accused of orchestrating one of the

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Speaker 2: biggest financial frauds in American history. Joining us now from

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Speaker 2: outside that very courthouse with the latest new Oceanani BASEK

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Speaker 2: and we'll get us up to speed with who's going

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Speaker 2: to be listening in on all these oral arguments.

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Speaker 3: Yeah, it's a good point.

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Speaker 4: We are just getting an idea of what the jury

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Speaker 4: will look like. Here you're looking at a nurse, a

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Speaker 4: physician assistant, a social worker who is currently unemployed and

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Speaker 4: has previously served on a jury before. Who are looking

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Speaker 4: also at, you know, folks who are retired corrections officers,

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Speaker 4: other high school graduates. Advertise, you have a mix of

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Speaker 4: people here. You have a number of jurors here that

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Speaker 4: again have been very heavily questioned here over the last

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Speaker 4: twenty four hours Caroline about whether they have preconceived notions

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Speaker 4: about cryptocurrencies and other parts of Sam Bankman Fried's world, like,

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Speaker 4: for example, effective altruism. That's another thing that the jury

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Speaker 4: had asked to make sure that there weren't going to

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Speaker 4: be negative vibes coming from that jury headed into this

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Speaker 4: six week trial with very serious criminal counts being faced

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Speaker 4: by Sam Bankman Freed. Now, as I stand outside the courthouse,

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Speaker 4: the jury, as we say, has been selected. We know

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Speaker 4: generally who these people are, what they do for a living,

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Speaker 4: how they have been questioned. The opening arguments are starting

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Speaker 4: imminently as well. We will hear from the prosecution really

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Speaker 4: for the first time to lay out their argument, and

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Speaker 4: more importantly, we don't know how sam Bankman Freed prepares

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Speaker 4: to defend himself against these charges and will hear from

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Speaker 4: them as well in a series of thirty to forty

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Speaker 4: minute remarks from both sides.

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Speaker 2: Of course, thirty one year old pleading not guilty to

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Speaker 2: Watford conspiracy to commit Wildford's securities fraud. The list goes

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Speaker 2: on Shanali, it's quite a changed samm Munfried who entered

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Speaker 2: that courtroom, much slimmer and change well, certainly from a

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Speaker 2: half perspective, but how do we think his demeanor has changed.

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Speaker 4: In a lot of ways. It's to your point, yere

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Speaker 4: A lot of people have been talking about the way

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Speaker 4: his appearance has changed. He looks noticeably thinner, according to

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Speaker 4: the Wall Street Journal. He has also been dressing a

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Speaker 4: lot differently, buying suits from Macy's at a forty percent discount. Remember,

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Speaker 4: he was known for that T shirt and shorts and

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Speaker 4: even flip flops in front of even world dignitaries in

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Speaker 4: the past, but now he has suited up. Indeed, as

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Speaker 4: he enters court himself, we'll see. We don't know that

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Speaker 4: he will necessarily testify. He's not going only expected to

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Speaker 4: testify and what tone he would take if he would,

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Speaker 4: but again much more silent. We are not used to

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Speaker 4: Sam megmin Fried being so silent leading up to these charges.

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Speaker 4: You remember just how much he had taken to the

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Speaker 4: media to describe what had happened at FTX, and ever

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Speaker 4: since then it's been nothing but silence.

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Speaker 3: And so this will be a telling trial.

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Speaker 4: Remember after those opening remarks, which will take about an

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Speaker 4: hour or so here, we will also start to hear

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Speaker 4: from witnesses and that will start to get very important

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Speaker 4: as we know that number of his closest friends and

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Speaker 4: colleagues over time are expected to testify in this trial.

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Speaker 2: Important for the individuals, important for the industry. Liquidity in

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Speaker 2: the digital asset market's still only half of what it

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Speaker 2: was before the FTX collapse. Shanalo Bassak on the ground

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Speaker 2: there for us all day. We thank you for it. Meanwhile,

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Speaker 2: coming up, we're going to get the outlook well for

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Speaker 2: what we're all now talking about. If it's not crypto,

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Speaker 2: we're talking about AI investing and discuss why Apple CEO

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Speaker 2: Tim Cook just decided to sell five hundred thousand shares

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Speaker 2: of the iPhone maker. Let's have a look on Apple

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Speaker 2: stock of course. In fact, it seems to be timed

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Speaker 2: along with the downgrade Key Bank. The analyst over there

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Speaker 2: saying it's high valuation, weak sales outlook. The analyst really

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Speaker 2: worrying about the stock's valuation is a large premium to

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Speaker 2: the naws that they say us sales. They'd like me

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Speaker 2: to struggle will have more ahead, still managing to tread

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Speaker 2: water up three ten percent on a day where the

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Speaker 2: nasack is up more than a percentage point. This is

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Speaker 2: a BlueBag technology time now for talking tech. First up,

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Speaker 2: Apple CEO Tim Cook selling shares of the iPhone maker.

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Speaker 2: In his biggest sale and more than two years, Cook

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Speaker 2: sold five hundred and eleven thousand shares that's worth about

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Speaker 2: forty one million dollars after taxes. It's all according to

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Speaker 2: a filing with the SEC. So all comes after Cook

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Speaker 2: took a rare pay cut about forty percent to just

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Speaker 2: forty nine million for twenty twenty three. Meanwhile, Intel is

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Speaker 2: planning to make its ALTERA unit into a standalone business

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Speaker 2: and take a public The Programmable Chip Division will become

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Speaker 2: an independent entity starting January first. It's all part of

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Speaker 2: the CEO pat Girl Singer's efforts to really try and

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Speaker 2: ring more value from the semiconductor company. Meanwhile, let's turn

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Speaker 2: out at Touch to AI because Masayoshi Son has a

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Speaker 2: message for Japan. Adopt artificial intelligence or got left Behind?

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Speaker 2: Was a soft bank founder's first public appearance in months

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Speaker 2: at SoftBank World. It's an annual event for the tech

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Speaker 2: investors domestic corporate clients. Now, the billionaire compared humans with

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Speaker 2: that AI to goldfish just in a bowl to process

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Speaker 2: information like language. So let's talk more about this AI euphoria,

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Speaker 2: AI necessity and how to play it. James fishbacks with us.

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Speaker 2: He's the founder and chief investment officer of Zoria Partners.

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Speaker 2: It's global macro hedge fund PROJECSORI. Of course you are

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Speaker 2: with macro investing over at green Light Capital, and James,

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Speaker 2: wefel with your focus on all the ways in which

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Speaker 2: you could get long AI. Is it about smaller companies

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Speaker 2: bigger companies? How do you play this.

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Speaker 5: Well, Carolyn, it's a real pleasure to be here. Let

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Speaker 5: me say that to Marsh's point, my name is Fishback,

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Speaker 5: so I am the goldfish in this equation. So I'm

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Speaker 5: trying to figure that out. But I think the way

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Speaker 5: to look at This is to look at some of

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Speaker 5: the companies that have the best balance sheets, the best markets,

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Speaker 5: and existing user workflows and ecosystems, and then monetize off

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Speaker 5: of that. At the risk of sounding like Steve Jobs

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Speaker 5: in January of two thousand and seven when you launched

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Speaker 5: the iPhone, the types of companies you think you really

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Speaker 5: want to look at in this environment are the hyper scalers,

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Speaker 5: the ones that are providing the cloud computing infrastructure, the

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Speaker 5: amplifiers of this technology that can then deploy it to

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Speaker 5: existing users and devices. And the innovators, those who are

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Speaker 5: either developing or are strategically partnering with those who are developing.

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Speaker 5: And so, much like Steve Jobs said, these are not

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Speaker 5: three separate companies. In many cases, there are actually one company.

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Speaker 5: In several cases, Microsoft is one of them. I believe

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Speaker 5: that Google and Amazon are others as well, and so

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Speaker 5: it's a unique opportunity to own strong cash flow generative

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Speaker 5: businesses that offer embedded optionality to capitalize on the AI boom.

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Speaker 2: Interesting that it really seems to be being owned by

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Speaker 2: the United States at this time, James, when you're thinking

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Speaker 2: about what's happening with Microsoft's partnership with something like an

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Speaker 2: open Ai. How do you see these sort of frenemies continuing.

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Speaker 2: How do you see the companies striking these We just

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Speaker 2: had Amazon of course taking a big stake and partnership

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Speaker 2: as well with other key players in the space. How

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Speaker 2: does that accelerate? Is that just the way in which

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Speaker 2: you want to see deals being done?

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Speaker 5: That's exactly what you want to see. You want to

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Speaker 5: see key innovators of this technology, like Anthropic, like open Ai,

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Speaker 5: have strategic partners in Amazon and in Microsoft respectively to

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Speaker 5: then deploy that technology. Look at Microsoft today. Their three

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Speaker 5: sixty five copilot product is now being opened accessed to

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Speaker 5: one hundred and sixty million enterprise users who can now

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Speaker 5: use it to expedite workflows in Microsoft Word, in Excel,

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Speaker 5: and in PowerPoint. And so you now take users who

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Speaker 5: are already used to Microsoft Word, already used to the

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Speaker 5: existing workflows that they have, and then you're super charging it.

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Speaker 5: You know, if I wanted to go to a Fortune

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Speaker 5: five hundred company and sell them phishback Ai and say

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Speaker 5: it's the best worst word processor out there, I couldn't

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Speaker 5: do that because I don't have those kind of relationships.

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Speaker 5: Microsoft has a moat in this market. They have their relationships,

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Speaker 5: they have the trust they're going to drive value for

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Speaker 5: enterprise players and as a result, they can drive pricing

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Speaker 5: power longer term.

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Speaker 2: Do you think then there's a risk any of these

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Speaker 2: really big and in many ways companies trying to fight

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Speaker 2: the monopoly oligopoly name that keeps being thrown at them.

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Speaker 2: Is there only risk they get displaced? I mean, in

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Speaker 2: the same time as the dot com boom and bust,

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Speaker 2: in the same way that we've seen some business models

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Speaker 2: just eroded. Are all of them ahead of the curve

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Speaker 2: or any of them at risk of losing their mantle?

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Speaker 3: You're absolutely right.

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Speaker 5: I think there's reason to be skeptical Caroline by what

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Speaker 5: happened in early two thousand with the dot com bubble.

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Speaker 5: But there's a couple key differences here. One is valuation.

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Speaker 5: The peak valuation at the dot com bubble was fifty

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Speaker 5: two times earnings for these average tech stocks. The average

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Speaker 5: AI tech stock today at the top of the list

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Speaker 5: has a pe of around twenty five times. And that

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Speaker 5: simple comparison is to say nothing about the strong fundamental

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Speaker 5: position these companies are in. As they said earlier, they

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Speaker 5: are free cash flow generative, they have strong balance sheets,

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Speaker 5: They have simple, predictable businesses. They don't need to rely

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Speaker 5: on debt and equity markets, increasingly a debt market that's

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Speaker 5: seeing rising interest rates. It seems like every single name

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Speaker 5: day now to fund the aggressive R and D behind this.

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Speaker 5: So I think they're doing all the right things Microsoft

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Speaker 5: with open Ai, Amazon with anthropic, Google with deep Mind,

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Speaker 5: and its own internal operations to then power this forward.

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Speaker 5: And the thing that I'm most excited about is these

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Speaker 5: companies already have billions of existing users and device ecosystems

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Speaker 5: that they can deploy this new technology to pretty much overnight.

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Speaker 5: So you don't have to make a lot of assumptions

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Speaker 5: here to see how powerful and how impactful this technology

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Speaker 5: can be, not just for the end user, but also

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Speaker 5: for their fundamental share prices.

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Speaker 2: And it's allowed the NASDAK to really reapin the rewards

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Speaker 2: for this year. But September was really ugly, James, and

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Speaker 2: September was ugly because of the macro picture, because of

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Speaker 2: the warrior, what the Federal Reserve is going to do,

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Speaker 2: how we tame inflation, a very strong jobs market. How

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Speaker 2: do you think these big tech bets can withstand a

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Speaker 2: higher for longer scenario.

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Speaker 5: That's a great question, and there's no doubt about it.

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Speaker 5: The macro picture over the past month has been challenging,

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Speaker 5: to say the least. Look at what's happened to thirty

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Speaker 5: year treasury yields in the US and the higher for

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Speaker 5: longer hawkish narrative coming from the Federal Reserve. I think

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Speaker 5: the key thing to note here is that the aiview

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Speaker 5: is not a multi quarter view. It is a multi

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Speaker 5: year view, and so if you look at some of

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Speaker 5: these companies, they have the potential to compound. In the

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Speaker 5: case of Microsoft, it's compounded at twenty five percent over

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Speaker 5: the past decade year over year, and that's despite all

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Speaker 5: the macro volatility both in the real economy and the

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Speaker 5: financial system we've seen. Yet at the same time, it's

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Speaker 5: important to look at what this opportunity presents long term.

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Speaker 5: I think a key assumption Caroline in this space is

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Speaker 5: that higher rates is actually negative for this type of

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Speaker 5: narrative for big tech going higher, and I don't think

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Speaker 5: that could be further from the truth. And here's why

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Speaker 5: companies like Apple, who issued thirty year debt at a

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Speaker 5: mid two percentage rate back in twenty twenty one, that

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Speaker 5: have turned out debt in many cases for ten or

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Speaker 5: fifteen teen years have strong balance sheets, are seeing higher rates,

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Speaker 5: but are not actually seeing higher effective interest costs, one

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Speaker 5: because their liabilities have been fixed. The large issuance in

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Speaker 5: twenty twenty in twenty twenty one that was of course

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Speaker 5: aided by quantitative vising at the FED and by their

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Speaker 5: libit by their assets rather which are actually increasing in value,

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Speaker 5: as in the case of Microsoft one hundred billion dollar

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Speaker 5: balance sheet is compounding in line with Treasury rates at

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Speaker 5: three to four percent.

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Speaker 3: So I would push.

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Speaker 5: Back against that narrative just a bit and view opportunities

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Speaker 5: like this as an opportunity to actually get in some

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Speaker 5: of these positions and develop a longer term view on

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Speaker 5: where AI is going to be in three to five years.

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Speaker 2: Really thoughtful. Thank you for laying that out for us.

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Speaker 6: James Fishback of Azoria Partners, Well.

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Speaker 2: We know that Alphabet's Google is be going head to

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Speaker 2: head with Apple in many ways for years when it

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Speaker 2: comes to hardware, but really it feels head on right now.

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Speaker 2: The new Pixel phones have you seen them? They're kind

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Speaker 2: of more iPhone like than ever before, particularly when you're

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Speaker 2: looking at the price point. Bloomberg's chief correspondent Mark German,

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Speaker 2: who has all the insight track around these products announcements,

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Speaker 2: give us your thoughts. What did you make of some

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Speaker 2: of the updates the camera, the way in which they

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Speaker 2: look and feel.

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Speaker 7: Yeah, I mean I think Google is continuing to push

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Speaker 7: out pretty impressive AI driven products. The new Pixel phones

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Speaker 7: the Pixel eight Pixel eight pro very impressive new camera, features,

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Speaker 7: new G three tensor processors. This is their third generation

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Speaker 7: custom processor. A few upgrades here that make it a

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Speaker 7: little bit more like an iPhone. Surprisingly, the facial recognition

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Speaker 7: on the previous Pixel phones, at least the last couple generations,

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Speaker 7: they weren't graded security wise high enough to be processed

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Speaker 7: for payments using your banking apps. Now they've up the

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Speaker 7: security on that, as you know, FACESIDD on the iPhone

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Speaker 7: since twenty seventeen has had that.

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Speaker 3: Level of security.

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Speaker 7: The design of the Pixel phones continued to be some

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Speaker 7: of the best smartphone designs on the market. It but

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Speaker 7: the trend continues here, right. Google is pushing out some

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Speaker 7: really nice hardware, great software integrations, probably some of the

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Speaker 7: best Android phones you can get globally, but that really

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Speaker 7: hasn't translated into really strong amounts of market share, right,

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Speaker 7: So that's the problem Google will continue to grapple with

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Speaker 7: at least for the foreseeable future, making really good phones

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Speaker 7: and really good hardware products that are just not selling

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Speaker 7: as well as their competitors from Samsung and Apple. And

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Speaker 7: that's what Google now.

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Speaker 3: Has to figure out.

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Speaker 7: They have the right hardware, how do they get them

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Speaker 7: to sell in those bigger quantities?

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Speaker 2: Well point, we think Google has about three percent of

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Speaker 2: the smartphone shipments during the second quarter according to Counterpoint Research.

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Speaker 2: Great and asks some chief correspondent Mark Gum and we

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Speaker 2: thank you as always for running us through well what

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Speaker 2: the products like? And he liked it. So let's talk

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Speaker 2: a little bit more about what's in this product and

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Speaker 2: how they do take on market share. Shanazzach is with

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Speaker 2: us judge on product management Full Pixel at Google, fresh

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Speaker 2: off the stage where you presented, what are these big

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Speaker 2: upgrades to the phones? And look, I've been agnostic for years.

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Speaker 2: I had Pixels, had iPhones, and I'm interested as to

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Speaker 2: whether you like or dislike the idea of becoming more

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Speaker 2: like an iPhone.

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Speaker 8: I wouldn't compare that because I think Pixel are the

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Speaker 8: best phones or Google, especially bringing the hardware plus the software,

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Speaker 8: plus the best of AI from Google into people's hands,

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Speaker 8: and that's how we think about our phones. Of it's

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Speaker 8: bringing the best of Google in people's hands.

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Speaker 2: What about the best of AI? It does seem to

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Speaker 2: be something people are now referencing far more within their

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Speaker 2: product detail. I mean now it's because finding a consumer

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Speaker 2: really understands it. They can touch it, feel it, use it.

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Speaker 2: When they're using Bard for example, how will that be

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Speaker 2: interwoven to make it that much easier product to use?

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Speaker 8: So when Pixel started seven years ago, even at that time,

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Speaker 8: AI was a core part for Pixel and we continue

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Speaker 8: on that line, and as you saw in our announcement,

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Speaker 8: we have AI or with our supported by ATTENDSLG three

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Speaker 8: across the phone, including our integration of assistant with Bard

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Speaker 8: that will be coming soon.

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Speaker 2: It's interesting that, of course, you have pushed up the

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Speaker 2: price point. What is it? I've owned fifteen pro now

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Speaker 2: same as the Pixel eight pro nine hundred and ninety

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Speaker 2: nine dollars. Is the consumer ready for that price point?

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Speaker 2: I mean, how did you sort of test and feel

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Speaker 2: that that was the right amount to be charging.

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Speaker 8: There's a lot of testing we do. But as you

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Speaker 8: can see in our phones, you've upgraded the hardware. We

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Speaker 8: have a completely new camera system. We are also had

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Speaker 8: a lot of software, and we're also supporting the phones

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Speaker 8: for a longer period of time for seven years of

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Speaker 8: OS support security feature jobs. So that's how we think

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Speaker 8: about our phone.

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Speaker 2: But it's interesting, therefore, isn't it that we're going to

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Speaker 2: supporting them and for longer so people might not need

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Speaker 2: to renew for longer. How do you start to inch

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Speaker 2: away at this market share that is Smart pointed out,

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Speaker 2: it's sort of surprisingly low considering the integration of software

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Speaker 2: and hardware.

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Speaker 8: So from Pixel and Google's perspective, we do want people

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Speaker 8: to use their phone longest, and we see that people

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Speaker 8: are using their phone longer, right, and so it's part

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Speaker 8: of sustainability, so it's important for us, and so that

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Speaker 8: support was natural for us to help our users support

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Speaker 8: their phones for a longer period of time.

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Speaker 2: Overall, when you're thinking as well about some of the

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Speaker 2: not just sustainability but security that people want to be seeing,

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Speaker 2: you have been up in the ante when it comes

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Speaker 2: to facial recognition. Are people going to be frustrated that

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Speaker 2: it took so long or what actually goes in too

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Speaker 2: needing to ensure that you can qualify for those sorts

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Speaker 2: of levels of security.

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Speaker 8: In terms of the phone, our phones always were secure.

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Speaker 8: We had our titan Ship and our phone security was

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Speaker 8: supported for five years, so it's we are upping that

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Speaker 8: to seven years. And yes, they are one of the

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Speaker 8: most secure phones out there.

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Speaker 2: What do you think it will take to get the

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Speaker 2: market share higher? Why do you think there has been reticence?

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Speaker 2: Has it been? And just because people are used to

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Speaker 2: the iPhone ecosystem, it's harder to drag them out. Is

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Speaker 2: it more that you therefore, folks sort of an international consumer,

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Speaker 2: particularly you've made real inroads in Japan for example.

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Speaker 1: That's right.

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Speaker 8: Pixel is the fastest growing smartphone in our markets, and

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Speaker 8: it's the only phone that grew in units sold your

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Speaker 8: over years. So we're definitely seen that and we're looking

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Speaker 8: forward to more of that, and especially with all the

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Speaker 8: AI features and all the amazing hardware and software, that's

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Speaker 8: what we're going after.

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Speaker 2: How are you thinking internationally about your supply chain as well?

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Speaker 8: In terms of supply, like you mentioned it, Pixel is

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Speaker 8: doing very well in our international markets in Japan as well,

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Speaker 8: and so that is a core focus of how do

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Speaker 8: we make sure that you know users across the world

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Speaker 8: in our markets get our phones.

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Speaker 2: What about ultimately building the phone because there has I

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Speaker 2: think of an Apple that's had to really rethink the

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Speaker 2: way in which its product is made, where it is made,

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Speaker 2: in this global landscape where suddenly China in US just

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Speaker 2: aren't getting on in quite the same way, how do

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Speaker 2: you think about with sustainability on the one side, also

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Speaker 2: supply chain resilience on the other.

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Speaker 8: So, like you said, sustainability is a big focus for us,

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Speaker 8: and it's been a years in the making. It's not

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Speaker 8: something they're doing right now. As we announced on stage,

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Speaker 8: actually on sustainability. This is the first phone which is

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Speaker 8: free of plastics. So sustainability where it's made, how it's made,

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Speaker 8: is a key has been a key focus and is

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Speaker 8: a key focus for us.

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Speaker 2: And a lot of this is also about well the

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Speaker 2: entire ecosystem, not just a supply chain, but also of

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Speaker 2: what you're offering alongside the air buds, the watch, the

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Speaker 2: way in which you can interact across all of the software.

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Speaker 5: Two.

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Speaker 2: I mean, you're someone who's been in Google now for

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Speaker 2: seventeen years. I think it is what is it that

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Speaker 2: makes you so addicted to continuing to build with this company?

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Speaker 8: The people, the people I've been at Google for some

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Speaker 8: I grew up with Google, and I you know, it

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Speaker 8: might sound cliche, but I do love the people that

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Speaker 8: I work with. They push you to think well, that

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Speaker 8: push you to do the right thing, and that's what

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Speaker 8: I really enjoy about working at Google. The people around us.

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Speaker 2: Well, we're thinking about your product todation as Zach, thank

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Speaker 2: you very much and Nei for joining us. We've got

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Speaker 2: a few more of your people on the show a

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Speaker 2: bit later, Director of product management for Pixel at Google.

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Speaker 2: Great to have thank you, thank you for having me.

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Speaker 2: Welcome back to BLUEBG Technology. Let's have a little turn

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Speaker 2: our attention out to VC Spotlight and bring in Morgan

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Speaker 2: bella partner at NFX Capital Management who was also one

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Speaker 2: of the founders of Facebook's cryptocurrency project Libra. And remember

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Speaker 2: that one she was building one of the first stable coins.

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Speaker 2: You've ridden out what has been sort of the highs

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Speaker 2: and the lows of how crypto more broadly is seen

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Speaker 2: not only by a consumer, Morgan, but also by a

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Speaker 2: regulator in the US. I'm interested is we do start

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Speaker 2: to see the time of sound backman, freedom court, the

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Speaker 2: pain points relived for so many How are you feeling

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Speaker 2: about the cryptosphere in which you're investing. Is there activity

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Speaker 2: going on, particularly in the startup community.

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Speaker 3: Thank you so much for having me on.

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Speaker 9: I have a potentially not popular opinion on this, but

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Speaker 9: I am so much happier investing in crypto today than

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Speaker 9: I was twelve months ago, even you know, before the

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Speaker 9: FTX scandal. And a question that I've asked other crypto

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Speaker 9: founders is do you think that there's a chance that

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Speaker 9: we look back on this FTX mess as a positive?

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Speaker 9: And people looked at me kind of like I had five.

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Speaker 3: Heads, But let me explain why. And I think it's

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Speaker 3: ft It.

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Speaker 9: Was crazy out there and the laws of gravity were

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Speaker 9: not thought to apply to crypto, to crypto startups, and

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Speaker 9: what FTX forced us I people in the crypto industry

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Speaker 9: to ask ourselves an answer. I think we're three straightforward

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Speaker 9: questions that we all should have been asking regardless, which

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Speaker 9: is one, does this company solve a problem for anyone

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Speaker 9: or this product?

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Speaker 3: Two?

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Speaker 9: Is anyone using this? And three will this make money?

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Speaker 9: And there were so many companies and there are so

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Speaker 9: many company needs that were funded that are funded that

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Speaker 9: don't answer one of those three questions, let alone three

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Speaker 9: of those three questions, So the party that was.

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Speaker 3: Going on had to come to an end.

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Speaker 9: The FTX way of it coming to an end was

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Speaker 9: the most dramatic way that that could have happened. But

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Speaker 9: I really do think that there's a chance that it

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Speaker 9: ends up being a gift for the crypto startup world,

438
00:22:22,760 --> 00:22:25,280
Speaker 9: for the companies that are solving real problems, which I

439
00:22:25,320 --> 00:22:28,240
Speaker 9: know is not a popular opinion, but I do believe.

440
00:22:28,000 --> 00:22:30,959
Speaker 2: That we won't contra INDs Mogan, and I'm interested in

441
00:22:31,640 --> 00:22:34,400
Speaker 2: even if this happens to be a cathartic moment for crypto.

442
00:22:34,440 --> 00:22:37,840
Speaker 2: More broadly, all the builders building here in the US,

443
00:22:38,160 --> 00:22:41,560
Speaker 2: all the problems being solved are is the money being made,

444
00:22:41,760 --> 00:22:44,439
Speaker 2: all people using some of the dots and some of

445
00:22:44,480 --> 00:22:46,159
Speaker 2: the applications.

446
00:22:45,760 --> 00:22:46,280
Speaker 3: Here in the US.

447
00:22:46,400 --> 00:22:48,480
Speaker 2: You're having to go to a broad for those of founders.

448
00:22:50,119 --> 00:22:53,720
Speaker 9: So yes, and we are definitely still seeing companies built

449
00:22:53,720 --> 00:22:57,040
Speaker 9: in the US. I think what you saw pre FTX

450
00:22:57,240 --> 00:22:59,720
Speaker 9: was everyone and their brother and sister was starting a

451
00:22:59,720 --> 00:23:02,359
Speaker 9: crypto company because it was the gold rush. What has

452
00:23:02,400 --> 00:23:05,040
Speaker 9: been filtered out now is people that are starting crypto

453
00:23:05,080 --> 00:23:08,600
Speaker 9: companies are only starting crypto companies because they actually see

454
00:23:08,600 --> 00:23:10,960
Speaker 9: a problem to solve and actually have a passion for

455
00:23:11,000 --> 00:23:14,520
Speaker 9: the industry versus they just see a casino that looks fun.

456
00:23:14,920 --> 00:23:16,840
Speaker 9: So I think that there's a filter now in a

457
00:23:16,880 --> 00:23:20,200
Speaker 9: good way for who's actually starting companies. And then, yes,

458
00:23:20,280 --> 00:23:23,760
Speaker 9: people are using crypto applications, but if we're all being honest, like,

459
00:23:23,840 --> 00:23:27,760
Speaker 9: the only application that's really achieved any kind of product

460
00:23:27,760 --> 00:23:30,600
Speaker 9: market fit as far as scale is Bitcoin, ethereum and

461
00:23:30,600 --> 00:23:35,720
Speaker 9: stable coins. When you're seeing development in the US, it's interesting.

462
00:23:35,760 --> 00:23:37,960
Speaker 2: We do understand, in fact, the trial for some of

463
00:23:38,119 --> 00:23:41,320
Speaker 2: Manfred is underway, and we're understand the opening statements being

464
00:23:41,359 --> 00:23:44,080
Speaker 2: made by Murfree and current the expressionists. We understand as

465
00:23:44,080 --> 00:23:46,399
Speaker 2: the government continued with their opening remarks saying that the

466
00:23:46,400 --> 00:23:49,560
Speaker 2: defendant wanted money he didn't have and he committed food.

467
00:23:49,960 --> 00:23:52,960
Speaker 2: But Morgan, let's move away from that for a moment

468
00:23:53,000 --> 00:23:56,720
Speaker 2: to the regioustry environment with which we're in, because you

469
00:23:56,760 --> 00:24:00,040
Speaker 2: do have an sec chair chat who seems adam and

470
00:24:00,160 --> 00:24:03,600
Speaker 2: to police. Whether it's after these companies are built or

471
00:24:03,640 --> 00:24:06,280
Speaker 2: as they're being built, and I'm interested as to whether

472
00:24:06,320 --> 00:24:09,240
Speaker 2: that's really an environment people want to find product market fit.

473
00:24:09,320 --> 00:24:12,080
Speaker 2: In the moment, I think it's.

474
00:24:11,920 --> 00:24:14,560
Speaker 9: An environment that people want to find product market fit

475
00:24:14,680 --> 00:24:17,879
Speaker 9: in if there is like a market and a business

476
00:24:17,880 --> 00:24:21,399
Speaker 9: to be built. But it's definitely a thorn for sure.

477
00:24:21,480 --> 00:24:24,879
Speaker 9: And I think an issue is there are very few

478
00:24:25,000 --> 00:24:27,639
Speaker 9: topics that rally both sides and that gain you favor

479
00:24:27,680 --> 00:24:30,560
Speaker 9: on both sides. So if you're a politician with political

480
00:24:30,560 --> 00:24:33,400
Speaker 9: aspirations and you're trying to win favor on both sides

481
00:24:33,400 --> 00:24:35,600
Speaker 9: of the aisle, going after a crypto is one of

482
00:24:35,760 --> 00:24:39,199
Speaker 9: a few categories that no one's going to really oppose you.

483
00:24:39,320 --> 00:24:42,840
Speaker 9: So the incentives and the psychology behind that are definitely

484
00:24:42,840 --> 00:24:46,080
Speaker 9: not in crypto's favor, which is a bummer welcoing.

485
00:24:46,119 --> 00:24:48,120
Speaker 3: There's still technical time.

486
00:24:48,600 --> 00:24:51,520
Speaker 2: I mean, go in there then and get integritty with

487
00:24:51,560 --> 00:24:53,359
Speaker 2: some of the problems you like to be being solved

488
00:24:53,400 --> 00:24:55,800
Speaker 2: in this. I mean, what's getting you excited when you're

489
00:24:55,800 --> 00:24:57,919
Speaker 2: getting up twelve months on then you're saying it's a

490
00:24:57,920 --> 00:25:00,159
Speaker 2: far better environment to be writing checks into and in

491
00:25:00,160 --> 00:25:02,120
Speaker 2: effects has a little money to put to work. You're

492
00:25:02,119 --> 00:25:05,160
Speaker 2: already putting money into various so soought ups, whether it's

493
00:25:05,200 --> 00:25:07,679
Speaker 2: space folks, space, I mean where they were Also in

494
00:25:07,760 --> 00:25:10,239
Speaker 2: mister Lab's ramp is a company of cools that's all

495
00:25:10,280 --> 00:25:13,840
Speaker 2: about trading of crypto and our sets. Where'd you want

496
00:25:13,880 --> 00:25:15,520
Speaker 2: to see some of these problems solved for you?

497
00:25:16,800 --> 00:25:18,119
Speaker 3: Thank you for those shout outs.

498
00:25:18,119 --> 00:25:21,200
Speaker 9: So stable coins still I I spent four years banging

499
00:25:21,200 --> 00:25:23,199
Speaker 9: my head against a wall, so I still think that

500
00:25:23,880 --> 00:25:26,200
Speaker 9: there's a lot of room to go there more from

501
00:25:26,320 --> 00:25:30,040
Speaker 9: the US government by inside. And if you think that

502
00:25:30,080 --> 00:25:32,800
Speaker 9: digital money is going to be the future, the US

503
00:25:32,880 --> 00:25:36,199
Speaker 9: government really needs to recognize that and get on that,

504
00:25:36,359 --> 00:25:37,880
Speaker 9: or else we're going to wake up and be living

505
00:25:37,880 --> 00:25:41,879
Speaker 9: in a world with Chinese digital money running throughout the

506
00:25:41,920 --> 00:25:43,720
Speaker 9: world in people's hands, which I don't think is a

507
00:25:43,800 --> 00:25:45,640
Speaker 9: first choice for us in the US.

508
00:25:46,359 --> 00:25:47,840
Speaker 3: And then also just usability.

509
00:25:47,880 --> 00:25:50,840
Speaker 9: I think what you've seen with AI is Chat GPT

510
00:25:52,000 --> 00:25:56,040
Speaker 9: had this moment with mainstream consumers. Crypto has not had

511
00:25:56,080 --> 00:26:00,280
Speaker 9: its chat GPT moment yet. So something that brings net

512
00:26:00,280 --> 00:26:03,520
Speaker 9: new users into the world in a real, meaningful, productive

513
00:26:03,560 --> 00:26:06,240
Speaker 9: way is I mean, obviously the holy grail and I

514
00:26:06,240 --> 00:26:09,560
Speaker 9: don't have any specific answers, but something we're always looking for.

515
00:26:10,440 --> 00:26:13,080
Speaker 2: Wow, We'll keep on waiting for the answer to mog

516
00:26:13,119 --> 00:26:14,840
Speaker 2: and Mella come back with it soon, we hope. Partner

517
00:26:14,880 --> 00:26:18,840
Speaker 2: at NFX Capital Management great tows some time with you today. Meanwhile, look,

518
00:26:18,920 --> 00:26:21,760
Speaker 2: here's something else that we're watching. Founders of online delivery

519
00:26:21,800 --> 00:26:25,000
Speaker 2: companies worldwide. They exploded during the pandemic in terms of

520
00:26:25,000 --> 00:26:26,840
Speaker 2: they got a lot bigger, and now they're watching their

521
00:26:26,880 --> 00:26:29,680
Speaker 2: fortunes disappear. The group includes the founders of say, Turkeys

522
00:26:29,760 --> 00:26:33,080
Speaker 2: Get here and Silicon Valley's Instagraart Door Dash, while they've

523
00:26:33,080 --> 00:26:38,119
Speaker 2: now collectively lost fifteen billion dollars more than in terms

524
00:26:38,119 --> 00:26:43,520
Speaker 2: of overall market valuation. Coming up, let's talk about healthcare tech.

525
00:26:43,840 --> 00:26:48,880
Speaker 2: The startups Commya and athle ethelas they're merging to drive

526
00:26:48,960 --> 00:26:51,320
Speaker 2: value for doctors and patients using the power of AI.

527
00:26:51,560 --> 00:26:55,920
Speaker 2: Conversation with Tanay Tandon, CEO of Comya as he brings

528
00:26:55,960 --> 00:26:58,640
Speaker 2: those two companies together under his leadership. This is Boomberg

529
00:26:58,640 --> 00:27:11,960
Speaker 2: Technology taking a look at Palenteers Shares for you today

530
00:27:12,000 --> 00:27:14,960
Speaker 2: because the data analysis firm co founded by tech billionaire

531
00:27:14,960 --> 00:27:16,800
Speaker 2: p Total of course, but it's closing in on a

532
00:27:16,840 --> 00:27:19,840
Speaker 2: contract with the United Kingdom's National Health Service, the NHS.

533
00:27:20,119 --> 00:27:22,359
Speaker 2: It could be a five year agreement which is designed

534
00:27:22,359 --> 00:27:25,800
Speaker 2: to help the agency analyze medical data, detect suspicious patterns,

535
00:27:26,000 --> 00:27:30,160
Speaker 2: ultimately overhaul its entire system. Now sources say the government

536
00:27:30,200 --> 00:27:32,399
Speaker 2: is on track to announce Palenteer as the winning bidder

537
00:27:32,680 --> 00:27:36,640
Speaker 2: as soon as this month. Now, from one Tolkien inspired

538
00:27:36,720 --> 00:27:39,840
Speaker 2: name to another, in the world of healthcare, two healthcare

539
00:27:39,840 --> 00:27:42,760
Speaker 2: startups are forging a new path using artificial intelligence to

540
00:27:42,760 --> 00:27:47,119
Speaker 2: become a health operating system data platform Commere and athel Us,

541
00:27:47,240 --> 00:27:50,680
Speaker 2: which is also from Middle Earth, which builds remote patient

542
00:27:50,720 --> 00:27:53,119
Speaker 2: monitoring technology, will complete a merger by the end of

543
00:27:53,160 --> 00:27:55,920
Speaker 2: the month. Joining us now is Tonay Tan and CEO

544
00:27:56,080 --> 00:28:00,320
Speaker 2: of Comure, who was of course leading Athelus. And I'll

545
00:28:00,320 --> 00:28:02,440
Speaker 2: ask you with the ny Tolkien is such like big

546
00:28:02,480 --> 00:28:05,080
Speaker 2: part in all these naming of these companies. But today,

547
00:28:05,200 --> 00:28:09,120
Speaker 2: ultimately you're trying to use AI to make healthcare more

548
00:28:09,520 --> 00:28:11,560
Speaker 2: well efficient in the same way that Palenteer might do

549
00:28:11,600 --> 00:28:12,240
Speaker 2: with the NHS.

550
00:28:12,280 --> 00:28:14,200
Speaker 3: Correct, that's right.

551
00:28:14,280 --> 00:28:16,200
Speaker 10: And first of all, I'm impressed you've got the Lord

552
00:28:16,200 --> 00:28:19,880
Speaker 10: of the Rings reference. Most people don't, But that's exactly right.

553
00:28:19,920 --> 00:28:22,240
Speaker 10: We're taking one of the biggest pain points in healthcare,

554
00:28:22,320 --> 00:28:25,320
Speaker 10: which is a disparate set of data sources across hundreds

555
00:28:25,359 --> 00:28:28,560
Speaker 10: of different systems, in tons of manual work the doctors

556
00:28:28,560 --> 00:28:31,760
Speaker 10: and administrators do every day and supercharge that with large

557
00:28:31,800 --> 00:28:35,520
Speaker 10: language models to automate workflows and grow doctor's revenue and

558
00:28:35,560 --> 00:28:36,560
Speaker 10: health system revenue.

559
00:28:36,720 --> 00:28:39,600
Speaker 2: What everyone is course is slightly concerned about with Panenteer

560
00:28:39,600 --> 00:28:43,320
Speaker 2: in the NHS is data and data sharing and the knowledge.

561
00:28:43,400 --> 00:28:45,200
Speaker 2: How are you making sure that from the get go

562
00:28:45,800 --> 00:28:49,760
Speaker 2: the users ultimately the end of this feel very secure

563
00:28:49,760 --> 00:28:52,520
Speaker 2: about the security of their data.

564
00:28:52,640 --> 00:28:55,960
Speaker 10: I think that's a non negotiable when you look at healthcare,

565
00:28:56,160 --> 00:29:00,440
Speaker 10: it companies, software businesses, it really comes down to making

566
00:29:00,480 --> 00:29:02,840
Speaker 10: that appe zero in terms of how you design your

567
00:29:02,840 --> 00:29:06,600
Speaker 10: systems and working forward from there to really help at

568
00:29:06,600 --> 00:29:08,560
Speaker 10: the end of the day to drive value or drive

569
00:29:08,640 --> 00:29:11,400
Speaker 10: value for doctors and clinicians well at the same time

570
00:29:11,400 --> 00:29:14,160
Speaker 10: protecting patient information and the companies.

571
00:29:13,880 --> 00:29:14,480
Speaker 3: That go on.

572
00:29:14,840 --> 00:29:17,240
Speaker 2: I know I was just going to say driving value. Well,

573
00:29:17,440 --> 00:29:20,360
Speaker 2: clearly the business that is bringing you together and some

574
00:29:20,440 --> 00:29:22,680
Speaker 2: of your VC backers think that you're going to have

575
00:29:22,760 --> 00:29:25,200
Speaker 2: a lot of value and ultimately together you've got a

576
00:29:25,240 --> 00:29:28,400
Speaker 2: combined valuation of about six billion dollars. And tell me

577
00:29:28,440 --> 00:29:31,000
Speaker 2: about the revenue streams. Therefore, today, how are you going

578
00:29:31,040 --> 00:29:33,640
Speaker 2: to be building and making sure that you can win

579
00:29:33,720 --> 00:29:35,080
Speaker 2: business in a profitable manner.

580
00:29:36,200 --> 00:29:39,120
Speaker 10: Definitely, I think the exciting thing about healthcare is it's

581
00:29:39,120 --> 00:29:42,920
Speaker 10: twenty percent of US GDP. Fellas already processes hundreds of

582
00:29:42,920 --> 00:29:46,520
Speaker 10: millions of dollars worth of claims, communore deals with billions

583
00:29:46,520 --> 00:29:49,880
Speaker 10: of dollars worth of appointments every single year. And this

584
00:29:50,000 --> 00:29:52,120
Speaker 10: is just a small percentage of the total dollars that

585
00:29:52,120 --> 00:29:55,000
Speaker 10: flow through the healthcare system. And the exciting thing here

586
00:29:55,040 --> 00:29:57,240
Speaker 10: is that we can use software at the end of

587
00:29:57,320 --> 00:30:00,360
Speaker 10: the day automate these workflows and drive up profit margin

588
00:30:00,400 --> 00:30:02,200
Speaker 10: for health systems and end of day, take a small

589
00:30:02,200 --> 00:30:05,360
Speaker 10: cut of that to grow the profitability of our own business.

590
00:30:06,080 --> 00:30:08,480
Speaker 2: How did this merger come about? Was it all to

591
00:30:08,520 --> 00:30:11,120
Speaker 2: do with General Catalyst? Of course, it was backing both

592
00:30:11,160 --> 00:30:11,320
Speaker 2: of you.

593
00:30:12,560 --> 00:30:14,280
Speaker 10: I think this merger has been a long time coming.

594
00:30:14,800 --> 00:30:17,640
Speaker 10: I've known him Mont Teenager, the managing director at General

595
00:30:17,680 --> 00:30:20,720
Speaker 10: Cadalists for seven years now. You've known me since before

596
00:30:20,760 --> 00:30:24,000
Speaker 10: I dropped out of school. To founder Fellas and the

597
00:30:24,600 --> 00:30:26,360
Speaker 10: end of day is a marriage made in heaven. These

598
00:30:26,360 --> 00:30:30,720
Speaker 10: two companies serve similar customers, have similar end goals. One

599
00:30:30,760 --> 00:30:33,600
Speaker 10: has a data platform that saves time, the other bills

600
00:30:33,680 --> 00:30:36,520
Speaker 10: larger language models and revenue cycle software. You put them

601
00:30:36,520 --> 00:30:38,880
Speaker 10: together and you get magic and.

602
00:30:38,920 --> 00:30:41,200
Speaker 2: Talk about those larger language models that are going to

603
00:30:41,240 --> 00:30:43,480
Speaker 2: sort of be part of the magic. There's a lot

604
00:30:43,480 --> 00:30:47,240
Speaker 2: of hand ringing around AI, around ultimately how it disrupts,

605
00:30:47,280 --> 00:30:50,720
Speaker 2: how it boosts productivity, but also how you regulate it.

606
00:30:50,840 --> 00:30:53,840
Speaker 2: How are you managing to weave llms and actually make

607
00:30:53,920 --> 00:30:57,360
Speaker 2: it really integral to your business. Solve here.

608
00:30:58,640 --> 00:31:01,160
Speaker 10: I think there's a lot of noise in the LM space,

609
00:31:01,160 --> 00:31:03,760
Speaker 10: but there's also a ton of signal. The first time

610
00:31:03,920 --> 00:31:06,560
Speaker 10: one of our doctors do describe which is an automated

611
00:31:06,560 --> 00:31:11,240
Speaker 10: workflow for transcribing information and generating CPT codes, their jaw

612
00:31:11,280 --> 00:31:13,960
Speaker 10: drop and it saved them a couple hours that single

613
00:31:14,040 --> 00:31:17,479
Speaker 10: day in documentation. And so for us, language models are

614
00:31:17,480 --> 00:31:20,680
Speaker 10: a tool to accomplish an end goal rather than the

615
00:31:20,720 --> 00:31:23,719
Speaker 10: goal itself. And I think businesses that use them as

616
00:31:23,720 --> 00:31:27,200
Speaker 10: a powerful software automation tool will continue to grow and

617
00:31:27,240 --> 00:31:29,640
Speaker 10: will continue to serve their customers in a very unique

618
00:31:29,880 --> 00:31:31,040
Speaker 10: and honestly novel way.

619
00:31:32,080 --> 00:31:35,440
Speaker 2: Go in there on the unique novel because there have

620
00:31:35,640 --> 00:31:39,400
Speaker 2: been a fair few startups looking at tackling healthcare, making

621
00:31:39,440 --> 00:31:42,000
Speaker 2: it more efficient and more easy to use with the

622
00:31:42,040 --> 00:31:43,920
Speaker 2: power of AI, and we're just hearing how Palent is

623
00:31:43,920 --> 00:31:46,120
Speaker 2: going to be sort of taking on the NHS. What

624
00:31:46,200 --> 00:31:46,920
Speaker 2: makes you different?

625
00:31:48,080 --> 00:31:52,320
Speaker 10: I think the exciting thing here is GC's health assurance ecosystem.

626
00:31:52,480 --> 00:31:55,640
Speaker 10: We have HCA Healthcare, which is the largest hospital operator

627
00:31:55,720 --> 00:31:58,160
Speaker 10: in the country on our board in one of our

628
00:31:58,240 --> 00:32:02,240
Speaker 10: largest customers. We have thousands of small businesses in terms

629
00:32:02,280 --> 00:32:06,640
Speaker 10: of small practices like private doctors, a solo practice, ten

630
00:32:06,680 --> 00:32:10,080
Speaker 10: provider clinics also on the platform. And so the breadth

631
00:32:10,360 --> 00:32:14,200
Speaker 10: of appointments to sure volume of notes that we're processing

632
00:32:14,240 --> 00:32:16,600
Speaker 10: every day, I think is what makes us very unique.

633
00:32:16,680 --> 00:32:19,960
Speaker 10: And the partnership, the deep partnership with Legacy Healthcare. We're

634
00:32:19,960 --> 00:32:22,600
Speaker 10: not trying to disrupt anyone, We're just trying to empower them.

635
00:32:23,480 --> 00:32:28,240
Speaker 2: And then what of your post merger being, where do

636
00:32:28,280 --> 00:32:30,240
Speaker 2: you take this? Are you going to have to cut

637
00:32:30,280 --> 00:32:32,520
Speaker 2: down on people ultimately? How are you going to ensure

638
00:32:32,560 --> 00:32:35,560
Speaker 2: that your margin focused revenue boosting in a time where

639
00:32:35,560 --> 00:32:37,320
Speaker 2: that's exactly what vcs want to see.

640
00:32:38,320 --> 00:32:42,040
Speaker 10: The mandate years to grow were a company that thankfully

641
00:32:42,040 --> 00:32:45,440
Speaker 10: both companies five plus years of runway independently on track

642
00:32:45,520 --> 00:32:49,440
Speaker 10: to go public as individual companies. Bring them together only

643
00:32:49,480 --> 00:32:52,520
Speaker 10: accelerates that path, and I think we're going to be

644
00:32:52,560 --> 00:32:54,680
Speaker 10: one of the biggest hirers in the next year in

645
00:32:54,760 --> 00:32:57,280
Speaker 10: healthcare and software, and so hopefully a home for many

646
00:32:57,320 --> 00:32:58,640
Speaker 10: of the folks that did get laid off in the

647
00:32:58,720 --> 00:32:59,200
Speaker 10: last year or.

648
00:32:59,200 --> 00:33:02,200
Speaker 2: Two you were busy raising money and when you were

649
00:33:02,240 --> 00:33:05,280
Speaker 2: leading a fellas and I'm looking at what Sequoia General

650
00:33:05,320 --> 00:33:08,120
Speaker 2: catalysts mentioned why comminies have also in Vidia, and I'm

651
00:33:08,120 --> 00:33:10,960
Speaker 2: interested about how at the moment where there is such

652
00:33:11,040 --> 00:33:14,360
Speaker 2: fierce competition for compute, for chips, for access to be

653
00:33:14,400 --> 00:33:16,320
Speaker 2: able to build these large language models, how much has

654
00:33:16,360 --> 00:33:17,200
Speaker 2: that to hang up for you.

655
00:33:18,600 --> 00:33:21,480
Speaker 10: This is a defining moment in computing. I think what

656
00:33:21,640 --> 00:33:24,840
Speaker 10: Nvidia is unlocked is a new kind of magic in

657
00:33:24,920 --> 00:33:28,680
Speaker 10: terms of software and automations, and end of day, they're

658
00:33:28,680 --> 00:33:30,080
Speaker 10: going to make a lot of money on it, but

659
00:33:30,160 --> 00:33:31,720
Speaker 10: so are a lot of other great companies, and they're

660
00:33:31,720 --> 00:33:33,320
Speaker 10: going to build a lot of great products. And my

661
00:33:33,360 --> 00:33:36,280
Speaker 10: goal is the CEO of Comnore, is to leverage the

662
00:33:36,320 --> 00:33:39,480
Speaker 10: power of GPUs to train these models to do things

663
00:33:39,520 --> 00:33:41,080
Speaker 10: that just weren't possible before.

664
00:33:41,160 --> 00:33:42,000
Speaker 3: And so they'll bill.

665
00:33:41,840 --> 00:33:44,680
Speaker 10: Be a fiber GPUs in the coming years. But ultimately

666
00:33:44,760 --> 00:33:45,720
Speaker 10: I think everyone.

667
00:33:45,360 --> 00:33:46,080
Speaker 3: Will get their share.

668
00:33:46,600 --> 00:33:49,880
Speaker 2: Today great spending some time with you today tenancy of Comueur,

669
00:33:50,520 --> 00:33:53,000
Speaker 2: and it wasn't me who knew the Tolkien stuff. It

670
00:33:53,080 --> 00:34:03,360
Speaker 2: was my producer Marguerite to shout out to her. Let's

671
00:34:03,400 --> 00:34:06,200
Speaker 2: get back to Google's announcements today. It's not all about

672
00:34:06,200 --> 00:34:09,479
Speaker 2: the pixel lineup, because a Silicon Valley company also wants

673
00:34:09,480 --> 00:34:12,720
Speaker 2: to compete with Apple and many more health trackers for example,

674
00:34:12,760 --> 00:34:16,840
Speaker 2: and watches with the pixel Watch too, which includes faster

675
00:34:16,920 --> 00:34:20,160
Speaker 2: Qualcom chip. It's also lighter. Let's bringing James part Fitbit,

676
00:34:20,239 --> 00:34:22,839
Speaker 2: vice president, general manager at Google, has just been presenting

677
00:34:23,280 --> 00:34:26,480
Speaker 2: the new watch. And how are you setting yourselves apart?

678
00:34:26,560 --> 00:34:28,680
Speaker 2: What is the offering that you have different from some

679
00:34:28,680 --> 00:34:30,160
Speaker 2: of the other things that are on the market right now.

680
00:34:30,239 --> 00:34:33,480
Speaker 1: James, A great question. You know. One of the key

681
00:34:33,520 --> 00:34:35,920
Speaker 1: things that we wanted to do is improve upon the

682
00:34:35,960 --> 00:34:39,279
Speaker 1: great things that we did in the first generation pixel Watch. So,

683
00:34:39,320 --> 00:34:42,279
Speaker 1: as you pointed out, we introduced a new processor which

684
00:34:42,320 --> 00:34:45,719
Speaker 1: makes the performance a lot smoother and snappier, and it's

685
00:34:45,840 --> 00:34:50,400
Speaker 1: very noticeable for our users. We've also dramatically improved the

686
00:34:50,440 --> 00:34:54,839
Speaker 1: battery life as well. With the always on display on

687
00:34:55,040 --> 00:34:57,520
Speaker 1: you still get twenty four hours of battery life, and

688
00:34:57,560 --> 00:35:01,760
Speaker 1: we're also offering much faster charging time for our users

689
00:35:01,760 --> 00:35:03,960
Speaker 1: as well. And along with that, you know, one of

690
00:35:04,000 --> 00:35:06,960
Speaker 1: the most important aspects of the Google pixel Watch too

691
00:35:07,560 --> 00:35:10,120
Speaker 1: are it's safety and health features. So we offer this

692
00:35:10,160 --> 00:35:14,480
Speaker 1: feature called safety Check. You just check in, and if

693
00:35:14,520 --> 00:35:16,440
Speaker 1: you don't check in at their a certain period of time,

694
00:35:17,280 --> 00:35:20,560
Speaker 1: your location will be automatically shared with your emergency contact,

695
00:35:20,600 --> 00:35:22,719
Speaker 1: so it gives you that peace of mind. And then

696
00:35:22,800 --> 00:35:28,560
Speaker 1: we've introduced three new health sensors, including skin temperature, dramatically

697
00:35:28,640 --> 00:35:32,160
Speaker 1: improved heart rate with forty percent more accuracy, and a

698
00:35:32,280 --> 00:35:35,560
Speaker 1: new sensor called body response to help you manage your stress.

699
00:35:35,600 --> 00:35:38,319
Speaker 1: So there's a lot of improvements packed in this next

700
00:35:38,320 --> 00:35:40,480
Speaker 1: generation of the pixel Watch that we're really excited about.

701
00:35:40,600 --> 00:35:43,760
Speaker 2: Who's your typical buyer right now? I, as a parent,

702
00:35:43,800 --> 00:35:46,440
Speaker 2: immediately am starting to look at the world of smart

703
00:35:46,440 --> 00:35:49,040
Speaker 2: watches as a way to ensure my children is safe.

704
00:35:49,080 --> 00:35:52,040
Speaker 2: But who is generally the purchaser and wearer of this.

705
00:35:53,920 --> 00:35:57,200
Speaker 1: I think it's really anyone and everyone who's interested in

706
00:35:57,440 --> 00:36:01,600
Speaker 1: just improving their overall fitness levels and also interested in

707
00:36:01,719 --> 00:36:05,279
Speaker 1: having a great companion to their phone as well. So

708
00:36:05,360 --> 00:36:09,440
Speaker 1: the pixel Watch two not only combines helpfulness features like

709
00:36:09,480 --> 00:36:13,479
Speaker 1: Google Maps, and wallet, but a lot of great health

710
00:36:13,520 --> 00:36:14,919
Speaker 1: and fitness features as well.

711
00:36:15,280 --> 00:36:17,759
Speaker 2: Can you push us forward? I know it's frustrating on

712
00:36:17,760 --> 00:36:20,680
Speaker 2: a day where you're just announcing the second version, but

713
00:36:21,160 --> 00:36:24,920
Speaker 2: what does health and health wearables look like in the

714
00:36:24,960 --> 00:36:28,480
Speaker 2: next few years. Many have been hoping for blood glucose monitoring.

715
00:36:28,600 --> 00:36:31,440
Speaker 2: Many are now looking at well AI and the way

716
00:36:31,480 --> 00:36:33,440
Speaker 2: in which you're going to have an AI wearable. How

717
00:36:33,480 --> 00:36:35,719
Speaker 2: are you trying to be ahead of the curve at Google.

718
00:36:36,960 --> 00:36:39,760
Speaker 1: So you can see from the leap from the Google

719
00:36:39,800 --> 00:36:43,080
Speaker 1: pixel Watch one to Google pixel Watch two that there's

720
00:36:43,160 --> 00:36:48,160
Speaker 1: always a continuous spectrum of improvements that we're making, from

721
00:36:48,400 --> 00:36:54,160
Speaker 1: general purpose helpfulness to health and safety features. And what

722
00:36:54,200 --> 00:36:57,800
Speaker 1: I imagine for the future is that these devices, whether

723
00:36:57,840 --> 00:37:01,759
Speaker 1: they're trackers or smart watch, are going to be very

724
00:37:01,840 --> 00:37:04,879
Speaker 1: essential component of people's lives. It should be something that

725
00:37:05,239 --> 00:37:08,920
Speaker 1: you don't want to leave home without one because you

726
00:37:08,960 --> 00:37:11,920
Speaker 1: know they can massively improve your life or they can

727
00:37:11,960 --> 00:37:14,280
Speaker 1: even help save your life in the future. For instance,

728
00:37:14,920 --> 00:37:18,080
Speaker 1: our watches have an algorithm that help detect irregular heart

729
00:37:18,080 --> 00:37:22,400
Speaker 1: events like aphib which can massively increase the risk of strokes.

730
00:37:22,520 --> 00:37:25,000
Speaker 1: So all of these things I think really bring a

731
00:37:25,000 --> 00:37:27,160
Speaker 1: lot of helpfulness and utility to people who wear them.

732
00:37:27,640 --> 00:37:30,200
Speaker 2: What are some of the biggest blockers to the next iteration,

733
00:37:30,360 --> 00:37:34,239
Speaker 2: to the next vision of where you see healthcare going

734
00:37:34,239 --> 00:37:37,640
Speaker 2: from a wearable.

735
00:37:37,680 --> 00:37:39,480
Speaker 1: I don't see them really as blockers, but I see

736
00:37:39,520 --> 00:37:42,080
Speaker 1: them as opportunities for me. That things that are really

737
00:37:42,080 --> 00:37:46,640
Speaker 1: exciting for me are introducing technologies that we're only available

738
00:37:46,680 --> 00:37:50,400
Speaker 1: in a hospital grade setting or medical grade devices and

739
00:37:50,440 --> 00:37:53,600
Speaker 1: bringing them that capability and that helpfulness to as many

740
00:37:53,640 --> 00:37:59,600
Speaker 1: people as possible. And that requires breakthroughs in power management

741
00:38:00,040 --> 00:38:03,479
Speaker 1: that are processors, improve sensors that can actually fit within

742
00:38:03,520 --> 00:38:06,200
Speaker 1: the confines of a smart watch. So to me, those

743
00:38:06,239 --> 00:38:10,279
Speaker 1: are really exciting opportunities of research. And I think you know,

744
00:38:10,360 --> 00:38:13,960
Speaker 1: we hinted at this in our announcement today. The application

745
00:38:14,080 --> 00:38:17,200
Speaker 1: and the use of AI and healthcare is going to

746
00:38:17,200 --> 00:38:21,320
Speaker 1: be an exciting new frontier where AI can really find

747
00:38:21,360 --> 00:38:24,360
Speaker 1: connections and correlations and your health data that were just

748
00:38:24,520 --> 00:38:28,240
Speaker 1: very difficult to spot before and give you personalized insights

749
00:38:28,239 --> 00:38:29,360
Speaker 1: and guidance and coaching.

750
00:38:30,080 --> 00:38:33,640
Speaker 2: James park Fitbit, vice President, general manager at Google, fresh

751
00:38:33,680 --> 00:38:35,880
Speaker 2: off the stage, We thank you for it. Meanwhile, that

752
00:38:35,880 --> 00:38:37,920
Speaker 2: does it for this edition of Broomback technology. You do

753
00:38:38,000 --> 00:38:40,040
Speaker 2: not want to forget to check out our podcast go

754
00:38:40,160 --> 00:38:42,320
Speaker 2: find it on the terminal, online, on Apple and Spotify.

755
00:38:42,440 --> 00:38:44,520
Speaker 2: iHeart this is a BlueBag technology