WEBVTT - Apple Weighs Using Anthropic and OpenAI to Power Siri

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. You're listening to the

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<v Speaker 1>us live on YouTube.

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<v Speaker 2>I'll tell you one of the biggest pieces of the

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<v Speaker 2>news for me today.

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<v Speaker 3>Or he came out.

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<v Speaker 2>Yes, say Apple, I mean here's the Bloomberg headline, Apple

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<v Speaker 2>ways using outside AI power to power serie in a

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<v Speaker 2>major shift. This is Apple saying we kind of can't

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<v Speaker 2>get this AI thing going, so we'll let somebody else

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<v Speaker 2>do it for ust. To me, that was shocking stock

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<v Speaker 2>market like this stocks up a couple of percent today.

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<v Speaker 2>But I need to figure out what's going on here,

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<v Speaker 2>So I said, Man Deep, sing Bloomberg Intelligence senior tech analyst,

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<v Speaker 2>I need you in our studio here, Man Deep.

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<v Speaker 3>To me, this seemed big.

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<v Speaker 2>Yes, I mean Apple, they got the new headquarters, they

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<v Speaker 2>got like a gajillion scientist. They're saying, we can't really

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<v Speaker 2>get AI as well as we want it, as quickly

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<v Speaker 2>as we want it, so we'll maybe use somebody outside.

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<v Speaker 4>Yeah, I mean, if you remember at WWDC. All they

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<v Speaker 4>showcase was that new liquid glass interface. There was no

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<v Speaker 4>mention of AI, so it was pretty obvious that they

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<v Speaker 4>had nothing new to showcase from an LLM perspective. And look,

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<v Speaker 4>given the astronomical rise of chatchpt and how it's taken

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<v Speaker 4>the user and engagement share, I mean, everyone is looking

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<v Speaker 4>to use that kind of functionality on the apps that

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<v Speaker 4>live within the Apple ecosystem, whether it's your email, your calendar,

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<v Speaker 4>your contacts, like the photos that are stored on iCloud.

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<v Speaker 4>You have to ask to yourself, why can't Apple deploy

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<v Speaker 4>AI in a similar fashion where I can engage in

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<v Speaker 4>a chatchipt type format. And so that's the use case here. Obviously,

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<v Speaker 4>Apple's own LLM efforts have gone nowhere because they have,

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<v Speaker 4>frankly speaking, underinvested. I mean, look at their capex versus

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<v Speaker 4>all the other hyperskillers. They're spending eighty billion dollars. Apple

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<v Speaker 4>is spending ten billion dollars, So it's just not the

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<v Speaker 4>same level of investment. And they underappreciated how transformational this

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<v Speaker 4>generative AI LLLM wave is going to be. And now

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<v Speaker 4>they are partnering with an entropic and or open AI.

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<v Speaker 4>I think Entropic makes more sense to me because open

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<v Speaker 4>ai has clearly said they have their own hardware ambitions,

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<v Speaker 4>and to my mind, Entropic is an enterprise focused player.

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<v Speaker 4>They have already partnered with Amazon, and in this case

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<v Speaker 4>they probably will partner with Apple as well.

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<v Speaker 5>And as Paul mentioned, the stock market it wasn't disappointed

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<v Speaker 5>in this snooze. The stock was up yesterday when Bloomberg's

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<v Speaker 5>Mark Erman wrote the story, which I do think it

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<v Speaker 5>came out. I think he breaks, yes, he does break everything.

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<v Speaker 5>I think there came after the close. But still the

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<v Speaker 5>stock is hired today, so this is good.

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<v Speaker 3>I mean, talk a.

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<v Speaker 5>Little bit more about the partnerships because if Anthropic is

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<v Speaker 5>partnering with Amazon as well, like, this isn't really an

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<v Speaker 5>exclusive deal that they're doing. Apple's just going to have

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<v Speaker 5>the same AI as all the other times.

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<v Speaker 4>Yeah, but Apple controls the distribution across their iOS devices,

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<v Speaker 4>and whether it's your tablet or your smartphone or macpcs,

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<v Speaker 4>it's the Apple iOS ecosystem. So if Entropics LLM is

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<v Speaker 4>natively integrated, I mean, look at how much Microsoft has

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<v Speaker 4>benefited from OpenAI's partnership.

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<v Speaker 3>Microsoft doesn't have.

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<v Speaker 4>Their own LLM. The fact that they have risen so

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<v Speaker 4>much is because of the Open Ai partnership. So partnership

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<v Speaker 4>isn't a bad thing for Apple. And in this case,

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<v Speaker 4>clearly Entropic has a very good LLM. On the tech side,

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<v Speaker 4>maybe you could argue in terms of multi modality, open

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<v Speaker 4>Ai and Google are ahead, but for a text LM,

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<v Speaker 4>anthropics performance is comparable at part with the frontier models,

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<v Speaker 4>and that's where it makes a ton of sense that

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<v Speaker 4>they use Anthropic.

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<v Speaker 2>Thirty seconds, Can I think about this potent this announcement

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<v Speaker 2>similar to Apple saying we're going to.

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<v Speaker 3>Use Google for search.

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<v Speaker 4>Yeah, And part of the reason why there is no

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<v Speaker 4>mention of Google here is because of that anti trust

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<v Speaker 4>case that's pending. So clearly what Apple wants to signal

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<v Speaker 4>is they don't want to do anything with Google right now,

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<v Speaker 4>given that monopoly lawsuit and the twenty plus billion dollar

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<v Speaker 4>of payment from Google to Apple, and right now they

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<v Speaker 4>are really diversifying their exposure to these LLM players they

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<v Speaker 4>could have very well used in LLLM, and I wouldn't

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<v Speaker 4>be surprised down the line once this DOOJ case is resolved,

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<v Speaker 4>and if it's if it works out fine, they may

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<v Speaker 4>end up using Google's LM as well. Apple's main goal

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<v Speaker 4>here is to have as many LLLM partners and really

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<v Speaker 4>not depend on just one, whether it's Opening Hour and tropic.

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<v Speaker 4>They want five players, and I think they would be

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<v Speaker 4>willing to use anyone.

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<v Speaker 2>All right, all right, I thought it was a big deal,

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<v Speaker 2>But again I kind of liken it to this whole

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<v Speaker 2>search thing.

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<v Speaker 3>We'll do search with Global.

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<v Speaker 2>If they have better search, we'll use that so on

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<v Speaker 2>our phones. Men Deep Singh, he breaks it down for

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<v Speaker 2>us as he always does. Mendep Sing's senior tech analyst

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<v Speaker 2>Bloomberg Intelligence. He kind of runs it with Anna Ragrana.

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<v Speaker 2>They kind of run our global technology team. We've got

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<v Speaker 2>annalysts in Europe, North America and Asia covering the global

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<v Speaker 2>tech industry because that.

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<v Speaker 3>Is a driver of the value in these markets. This

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<v Speaker 3>is great.

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<v Speaker 1>You're listening to the Bloomberg Intelligence podcast. Catch us live

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<v Speaker 1>weekdays at ten am Eastern on Applecarplay and Android Auto

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<v Speaker 1>get your podcasts, or watch us live on YouTube.

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<v Speaker 3>Won the movie. I want to see this thing.

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<v Speaker 2>I did not see it yet, but it had a

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<v Speaker 2>good US box office even better international box office.

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<v Speaker 3>Emily, did you see it? No?

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<v Speaker 5>But it has a star studded lineup.

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<v Speaker 3>Yeah, is the main star. I'm gonna wait for the

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<v Speaker 3>book to come out. You can wait for the book

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<v Speaker 3>to come out. John Tuck with it. And that's good

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<v Speaker 3>news for Apple because they produced the movie.

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<v Speaker 2>It's good news for I guess Brad Pitt, but maybe

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<v Speaker 2>it's good news for f one in general. Keitha rang

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<v Speaker 2>Anathan joins US. She's a US media analyst and she's got.

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<v Speaker 3>An interesting angle here. Getha. First, let's just talk about

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<v Speaker 3>the movie.

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<v Speaker 2>That's good to see a successful movie in the movie

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<v Speaker 2>theaters these days that I guess the movie theater companies

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<v Speaker 2>are pretty happy.

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<v Speaker 6>Very happy, Paul. So this was obviously, as you just

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<v Speaker 6>pointed out, a big success story for Apple. They've been

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<v Speaker 6>dabbling in these theatrical films for quite a bit now,

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<v Speaker 6>but none of you know, none of their movies have

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<v Speaker 6>had this much of a success. So this is really

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<v Speaker 6>good news, and I think it kind of really emboldens

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<v Speaker 6>them with respect to their strategy. So definitely, movie theaters

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<v Speaker 6>are happy. And the other point that I'd like to

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<v Speaker 6>make is, you know, more than twenty to twenty five

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<v Speaker 6>percent of the total box office actually came in from Imax.

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<v Speaker 6>So this is really good news for the exhibiters because

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<v Speaker 6>the premium large format, that whole thing about going to

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<v Speaker 6>the theater to experience the movie is really working.

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<v Speaker 5>Okay, so your latest note is about how this F

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<v Speaker 5>one movie here from Apple is going to jolt you say,

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<v Speaker 5>lackluster lackluster bidding for the Formula one rights in the US.

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<v Speaker 5>Just give us a little bit of context here the

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<v Speaker 5>landscape of rights for Formula one, Who currently has the rights,

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<v Speaker 5>when does that expire? And just put into context kind

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<v Speaker 5>of the current bidding right now?

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<v Speaker 6>Sure, Emily, so right now. So Formula one is, you know,

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<v Speaker 6>is a global sports, global media property in the US.

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<v Speaker 6>The rights to distribute Formula one content is owned by

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<v Speaker 6>Disney's ESPN, so they have rights that go through the

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<v Speaker 6>end of this year to the end of twenty twenty five.

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<v Speaker 6>Their current paying about eighty five million dollars a year.

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<v Speaker 6>That's up from their last negotiation negotiation cycle when they

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<v Speaker 6>were paying only about five million dollars, so it's it's

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<v Speaker 6>up to eighty five million. But what F one is

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<v Speaker 6>saying is that this is such an interesting property. This

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<v Speaker 6>is you know, a hot property, you should be paying

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<v Speaker 6>up for it, and they are really looking for something

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<v Speaker 6>upwards of about one hundred and fifty two hundred and

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<v Speaker 6>sixty million, and I'm not so sure ESPN wants to

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<v Speaker 6>pay that that much money. So it's really price is

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<v Speaker 6>really a sticking point here, and it looks like we've

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<v Speaker 6>hit a little bit of a stalemate because you know,

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<v Speaker 6>when you kind of think about, yes, this is a property.

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<v Speaker 6>By the way, this prob you know, F one really

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<v Speaker 6>kind of shot into the limelight in the US Emily

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<v Speaker 6>and Paul with the Netflix drive to survive series. Now,

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<v Speaker 6>Netflix has been hugely, actually instrumental in kind of driving

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<v Speaker 6>this Surgeon popularity. So everybody was kind of wondering whether

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<v Speaker 6>Netflix or you know, maybe another streamer like an Amazon

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<v Speaker 6>would kind of come in and bid for the rights.

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<v Speaker 6>But I think what we're seeing with a lot of

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<v Speaker 6>these streaming platforms is that they want glows rights. These

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<v Speaker 6>are all global streaming platforms. They want rights to distribute

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<v Speaker 6>this content in all markets, and they're not going to

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<v Speaker 6>be able to get that right.

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<v Speaker 2>Now because Formula one, who's their European over is that

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<v Speaker 2>Warner Brothers Discovery, who distributes Sky.

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<v Speaker 6>Sky actually distributes them in most markets, so you know, Ireland, UK, Germany,

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<v Speaker 6>Italy again, France, Spain, they all have a little bit

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<v Speaker 6>different you know, distributors, but Sky is a is a

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<v Speaker 6>very big one across most of Europe.

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<v Speaker 5>Wouldn't Apple be the obvious choice to partner up and

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<v Speaker 5>you know, get the rights to Formula one because they

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<v Speaker 5>just made this a blockbuster hit about Formula one.

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<v Speaker 6>You would think so, you know, but it's been a

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<v Speaker 6>little bit of a we you know. Again, it's it's

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<v Speaker 6>hard to actually figure out what Apple is thinking here.

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<v Speaker 6>One thing that Apple doesn't have, which both Amazon and

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<v Speaker 6>Netflix have, is scale. So Netflix has well over three

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<v Speaker 6>hundred million global subscribers. Amazon probably has closed about three

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<v Speaker 6>hundred million as well on their video streaming service. Apple,

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<v Speaker 6>on the other hand, has probably less than fifteen million,

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<v Speaker 6>so they don't necessarily have the scale to support it.

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<v Speaker 6>And remember there are a few other things with the

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<v Speaker 6>Formula one property. You don't have a lot of advertising

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<v Speaker 6>inventory necessarily, So again that's something that doesn't necessarily appeal

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<v Speaker 6>to streamers, especially because all of these different streaming platforms

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<v Speaker 6>are really trying to build out their ad business. A

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<v Speaker 6>Formula one doesn't necessarily lend itself to that, but you're

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<v Speaker 6>absolutely right. Apple could be a very interested party down

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<v Speaker 6>the road.

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<v Speaker 2>And for those who care, one can actually invest directly

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<v Speaker 2>in Formula one. It's a public traded company fwonk. I

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<v Speaker 2>like Formula one K it's owned by John Malone and

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<v Speaker 2>Liberty Media. There's a million different share classes out there,

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<v Speaker 2>but Formula one keith, I mean, under John Mallan's leadership,

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<v Speaker 2>they've done a good job of increasing rights, sporting rights

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<v Speaker 2>and sponsorships and all that kind of stuff, making it actually.

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<v Speaker 6>Profitable, very profitable, and you know, they've done a fantastic

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<v Speaker 6>job with the media rights. Again, they've really capitalized on

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<v Speaker 6>this huge surgeon popularity because remember F one was really

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<v Speaker 6>more of a European really not so big in America,

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<v Speaker 6>but they've really kind of capitalized on this huge momentum

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<v Speaker 6>in the United States. And you're absolutely right. They've added

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<v Speaker 6>a whole lot of races, made it a year round calendar,

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<v Speaker 6>lots of sponsorship money. So they've done a very good

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<v Speaker 6>job with this new Liberty Media management team.

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<v Speaker 2>Ethan, real quick, well we got you thirty seconds. Are

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<v Speaker 2>people feeling better about Disney these days?

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<v Speaker 6>They absolutely are, so one of the things that we

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<v Speaker 6>were so worried about was the theme parks and whether

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<v Speaker 6>you know, we were going to see a slow down

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<v Speaker 6>there because of just general economic uncertainty. Also Epic, which

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<v Speaker 6>is the Comcast property opening in Florida. Right, but so

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<v Speaker 6>far we haven't seen any signs of a slowdown. So

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<v Speaker 6>things are looking actually pretty good for Disney.

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<v Speaker 2>All right, stocks up ten percent this year, better than

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<v Speaker 2>the market, ether rong and notthan She covers all the

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<v Speaker 2>global media stuff for Bloomberg Intelligence zooming in from Princeton,

0:11:58.080 --> 0:12:01.720
<v Speaker 2>New Jersey again formerly one Stock. I mean, the movie

0:12:02.040 --> 0:12:05.760
<v Speaker 2>Open last week really good, box office nut crazy good,

0:12:05.800 --> 0:12:07.640
<v Speaker 2>but very good and very good.

0:12:07.640 --> 0:12:10.200
<v Speaker 3>International got great reviews, so people think.

0:12:10.040 --> 0:12:12.400
<v Speaker 2>It might have legs, is what they say in the

0:12:12.440 --> 0:12:15.440
<v Speaker 2>business over the following weeks here, So we'll see how

0:12:15.520 --> 0:12:18.120
<v Speaker 2>that does for Apple and see what it means for

0:12:18.360 --> 0:12:19.920
<v Speaker 2>the Formula one racing circuit.

0:12:21.760 --> 0:12:25.440
<v Speaker 1>You're listening to the Bloomberg Intelligence podcast. Catch us live

0:12:25.520 --> 0:12:28.640
<v Speaker 1>weekdays at ten am Eastern on Apple, Cocklay and Android

0:12:28.640 --> 0:12:31.959
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0:12:32.000 --> 0:12:35.120
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0:12:35.679 --> 0:12:38.800
<v Speaker 2>All right, let's switch gears let's talk at global shipping here.

0:12:38.800 --> 0:12:42.040
<v Speaker 2>We're talking a lot about that really since the pandemic,

0:12:42.040 --> 0:12:45.480
<v Speaker 2>when we really started to get knowledgeable, if you will,

0:12:45.480 --> 0:12:48.000
<v Speaker 2>about the supply chains and where stuff comes from and

0:12:48.000 --> 0:12:50.120
<v Speaker 2>where it goes and how it gets there, and how

0:12:50.160 --> 0:12:52.040
<v Speaker 2>supply chains can be fragile. And now with all the

0:12:52.080 --> 0:12:56.240
<v Speaker 2>geopolitical tensions in various parts of the world, global shipping

0:12:56.320 --> 0:12:59.080
<v Speaker 2>and the threat to global shipping is once again at

0:12:59.080 --> 0:13:02.120
<v Speaker 2>the forefront. We're going to check in with Stomatis Santanas.

0:13:02.480 --> 0:13:06.079
<v Speaker 2>He is the chairman and chief executive officer of Synergy

0:13:06.280 --> 0:13:11.800
<v Speaker 2>Maritime and that is a NASDAQ listed security company. S

0:13:12.040 --> 0:13:16.079
<v Speaker 2>Hip is the great symbol there. Stomatis, thanks so much

0:13:16.120 --> 0:13:18.040
<v Speaker 2>for joining us here. A lot of hot spots in

0:13:18.040 --> 0:13:21.400
<v Speaker 2>the world. You think about the straight of horror mooves,

0:13:21.400 --> 0:13:23.880
<v Speaker 2>We've been hearing about that over the last several weeks.

0:13:24.840 --> 0:13:28.839
<v Speaker 2>Of course, what's happening in the Baltics with Ukraine. How

0:13:28.840 --> 0:13:31.560
<v Speaker 2>do you, guys, how a would you characterize the current

0:13:31.600 --> 0:13:33.720
<v Speaker 2>global shipping business these days?

0:13:33.960 --> 0:13:36.720
<v Speaker 7>Well, good morning and thank you for having me. It

0:13:36.800 --> 0:13:40.319
<v Speaker 7>is indeed quite challenging. I mean, we've had the COVID

0:13:40.360 --> 0:13:43.000
<v Speaker 7>and then we had the pretty much closure of the

0:13:43.040 --> 0:13:46.520
<v Speaker 7>Red Sea because of the Hootes, and then everything became

0:13:46.559 --> 0:13:50.080
<v Speaker 7>even more challenging with the horror moves or the potential

0:13:50.120 --> 0:13:52.560
<v Speaker 7>closure of that. So you know, we tend to navigate

0:13:53.240 --> 0:13:58.960
<v Speaker 7>all this zeopolitical challenge is quite successfully so far. You know,

0:13:59.559 --> 0:14:02.320
<v Speaker 7>it's it's all about infrastructure. I mean, what's going on

0:14:02.440 --> 0:14:06.240
<v Speaker 7>right now and whatever we believe to be the normalization

0:14:06.520 --> 0:14:09.439
<v Speaker 7>of whatever conflict in the Middle East. Hopefully that is

0:14:09.480 --> 0:14:12.120
<v Speaker 7>going to lead to a very big infrastructure boom in

0:14:12.160 --> 0:14:15.240
<v Speaker 7>the area, which is already pretty much started and booming.

0:14:15.320 --> 0:14:17.120
<v Speaker 7>And I believe that this is going to help shipping,

0:14:17.520 --> 0:14:21.680
<v Speaker 7>especially dry out that we operate in, very very much stimatus.

0:14:22.000 --> 0:14:25.600
<v Speaker 5>In addition to your role at Synergy, you're also the

0:14:25.600 --> 0:14:29.880
<v Speaker 5>founder and chairman and CEO of United Maritime Corporation. Together

0:14:29.920 --> 0:14:33.320
<v Speaker 5>you have a total of twenty five ships in the ocean.

0:14:33.600 --> 0:14:36.800
<v Speaker 5>I'm wondering if you had to reroute anything any shipping

0:14:36.880 --> 0:14:40.520
<v Speaker 5>routes in the wake of the latest Middle East tensions.

0:14:41.480 --> 0:14:43.880
<v Speaker 7>Well, we have been rerouting a lot of our ships,

0:14:43.880 --> 0:14:47.040
<v Speaker 7>about a third of our fleet has been rerouting already

0:14:47.200 --> 0:14:49.960
<v Speaker 7>to avoid the Red Sea, which it was kind of

0:14:50.040 --> 0:14:53.560
<v Speaker 7>underplay how important that passage has been for global shipping,

0:14:53.640 --> 0:14:58.280
<v Speaker 7>especially for big bulkers like we do. We were transporting

0:14:58.280 --> 0:15:01.520
<v Speaker 7>a lot of coal from Tralia to Europe because of

0:15:01.600 --> 0:15:04.720
<v Speaker 7>the energy needs, and we did a lot of coal

0:15:04.800 --> 0:15:08.360
<v Speaker 7>cargoes from Baltimore, USA to the West coast of India.

0:15:08.440 --> 0:15:11.880
<v Speaker 7>All of this routing were from the Red Sea. Now

0:15:11.880 --> 0:15:14.640
<v Speaker 7>we're going around the Cape of Good Hope. So unfortunately

0:15:15.800 --> 0:15:20.040
<v Speaker 7>that means more turn miles, more expensive than bankers, more

0:15:20.040 --> 0:15:22.680
<v Speaker 7>expensive for the consumer, and that adds a lot of

0:15:23.400 --> 0:15:26.240
<v Speaker 7>additional CO two emissions to the environment. Let's not forget

0:15:26.280 --> 0:15:27.600
<v Speaker 7>about that as well.

0:15:27.840 --> 0:15:30.680
<v Speaker 2>Stamnus talk to us about a global economy that's now

0:15:30.760 --> 0:15:34.920
<v Speaker 2>being influenced by terraffs across the globe. Here, how is

0:15:34.960 --> 0:15:39.760
<v Speaker 2>that impacted maybe your business, the business of your customers.

0:15:40.120 --> 0:15:43.400
<v Speaker 7>Well, nothing has happened so far. Everything is pretty much

0:15:43.440 --> 0:15:47.520
<v Speaker 7>priced thing. The world had a big alarm shock back

0:15:47.520 --> 0:15:51.280
<v Speaker 7>in twenty sixteen twenty seventeen with the initial phase and

0:15:51.360 --> 0:15:55.080
<v Speaker 7>threat by the first term of President Trump back in

0:15:55.120 --> 0:15:58.040
<v Speaker 7>the day. Nowadays, everything is pretty much priced thing. So

0:15:58.360 --> 0:16:02.160
<v Speaker 7>you know, people was kind of expecting that and we

0:16:02.200 --> 0:16:05.320
<v Speaker 7>didn't see any disruptions so far. What we have been

0:16:05.400 --> 0:16:09.600
<v Speaker 7>seeing is all this geopolitical turmoil that has affected full

0:16:09.680 --> 0:16:14.320
<v Speaker 7>time being long term buyers of FRA materials like caroen

0:16:14.360 --> 0:16:16.600
<v Speaker 7>ore and coal. But I believe this is going to

0:16:16.600 --> 0:16:19.120
<v Speaker 7>normalize as well, and we will come back to a

0:16:19.240 --> 0:16:22.640
<v Speaker 7>very very strong trading environment once again.

0:16:23.320 --> 0:16:26.000
<v Speaker 5>How would you assess them right now? Just a volume

0:16:26.280 --> 0:16:30.520
<v Speaker 5>of shipping. A couple weeks ago, right after Trump announced

0:16:30.920 --> 0:16:33.800
<v Speaker 5>the initial tariffs, there were a lot of concerns on

0:16:33.840 --> 0:16:36.600
<v Speaker 5>Wall Street that shipping was going to drop, shelves were

0:16:36.640 --> 0:16:38.760
<v Speaker 5>going to be empty. Do you think those fears were

0:16:38.800 --> 0:16:40.240
<v Speaker 5>overblown in hindsight?

0:16:41.600 --> 0:16:45.280
<v Speaker 7>Well, yes, I mean that initial plan on Liberation Day

0:16:45.440 --> 0:16:49.280
<v Speaker 7>was pretty much I'm not so sure how to characterize that,

0:16:49.400 --> 0:16:51.960
<v Speaker 7>but of course it got the world into a big shock.

0:16:52.080 --> 0:16:56.360
<v Speaker 7>Nobody was expecting that all these sixty seventy eighty ninety

0:16:56.360 --> 0:16:59.600
<v Speaker 7>percent global tariffs were going to go through, and it

0:16:59.680 --> 0:17:02.640
<v Speaker 7>appeared to be that, you know, after the initial shop

0:17:02.720 --> 0:17:05.520
<v Speaker 7>of the first few weeks, things kind of normalize. So

0:17:06.040 --> 0:17:09.880
<v Speaker 7>there are numerous deals being happening with each individual country

0:17:10.000 --> 0:17:13.600
<v Speaker 7>or continent or European Union or you name it. And

0:17:13.600 --> 0:17:17.240
<v Speaker 7>I believe that we're very very close to pretty much

0:17:17.280 --> 0:17:20.439
<v Speaker 7>underwinding all the trouble that we saw with you know,

0:17:20.720 --> 0:17:25.000
<v Speaker 7>without liberation day. Of course, please be reminded that global

0:17:25.040 --> 0:17:29.760
<v Speaker 7>trade has been continuing like nothing has happened. No, you know,

0:17:30.000 --> 0:17:34.400
<v Speaker 7>material types have been imposed so far, so so far

0:17:34.480 --> 0:17:36.880
<v Speaker 7>it's been business as usual. We haven't really seen any

0:17:36.920 --> 0:17:40.720
<v Speaker 7>disruptions in respect of that. It was more psychological impact,

0:17:41.440 --> 0:17:43.680
<v Speaker 7>you know, rather than anything material.

0:17:44.080 --> 0:17:44.560
<v Speaker 3>So modest.

0:17:44.560 --> 0:17:47.000
<v Speaker 2>How does your company compete with some of the you know,

0:17:47.040 --> 0:17:51.480
<v Speaker 2>the big global monster kind of shipping companies like you know,

0:17:51.560 --> 0:17:53.800
<v Speaker 2>the Molar, Marisk and and things like that.

0:17:53.840 --> 0:17:56.520
<v Speaker 3>How do you guys compete, Well.

0:17:56.359 --> 0:17:59.760
<v Speaker 7>It's a totally different industry. They operate mostly in the

0:18:00.040 --> 0:18:04.040
<v Speaker 7>humer industry because the transport containers. We are doing a

0:18:04.200 --> 0:18:07.959
<v Speaker 7>more park iron, ore, coal and box side, which is

0:18:08.280 --> 0:18:12.280
<v Speaker 7>very very important in the infrastructure growth of the world.

0:18:12.800 --> 0:18:15.840
<v Speaker 7>Right now, we have trillions of dollars of global infrastructure

0:18:15.920 --> 0:18:19.040
<v Speaker 7>being committed and fully funded. So this is going through

0:18:19.119 --> 0:18:21.919
<v Speaker 7>especially in the Middle East. As you know, President Trump

0:18:21.920 --> 0:18:24.959
<v Speaker 7>has at least seven or eight new buildings being built

0:18:25.000 --> 0:18:28.080
<v Speaker 7>in Saudi Arabia, Bahrain, O Man and all this place

0:18:28.119 --> 0:18:31.560
<v Speaker 7>over there. We're talking about multi billion dollar projects. And

0:18:31.600 --> 0:18:34.639
<v Speaker 7>I believe that the transportation of iron or coal and

0:18:34.920 --> 0:18:38.520
<v Speaker 7>box site will help in all this massive infrastructure that

0:18:38.560 --> 0:18:41.080
<v Speaker 7>we have been experiencing and all of these things going

0:18:41.080 --> 0:18:44.560
<v Speaker 7>on right now. So we do not really support the

0:18:44.560 --> 0:18:48.399
<v Speaker 7>consumer needs of the US or Europe, but we do

0:18:48.520 --> 0:18:53.880
<v Speaker 7>support substantially the transportation needs for infrastructure in various parts

0:18:53.920 --> 0:18:55.080
<v Speaker 7>of the world. That's what we do.

0:18:55.200 --> 0:18:57.000
<v Speaker 2>Fascinating story. Thank you for giving us a few minutes

0:18:57.000 --> 0:18:59.880
<v Speaker 2>of your time. Stamatis Santanas. He's a chairman in chief

0:19:00.000 --> 0:19:03.359
<v Speaker 2>executive officer of Synergy Maritime, also the founder, chairman and

0:19:03.520 --> 0:19:06.680
<v Speaker 2>CEO of United Maritime Corporation. Both of those are publicly

0:19:06.880 --> 0:19:11.320
<v Speaker 2>traded companies talk about the global shipping business, and infrastructure

0:19:12.040 --> 0:19:13.639
<v Speaker 2>is a big part of their growth story.

0:19:14.000 --> 0:19:18.679
<v Speaker 1>This is the Bloomberg Intelligence Podcast, available on Apple, Spotify,

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