WEBVTT - Debt Limit Talks Roadblock, Disney Pulls Back from Florida 0:00:01.400 --> 0:00:06.720 From Marhart where Innovation, Money and Power Collie in Silicon Valley, NBN. 0:00:07.040 --> 0:00:11.080 This is Bloomberg Technology with Caroline Hyde and Ed Ludlow. 0:00:25.120 --> 0:00:27.640 I'm Caroline Hinde at Bloomberg's Weldtay quarters in New York. 0:00:27.680 --> 0:00:32.080 Ed Ludlow, He's off today. This is Bloomberg Technology coming up. Well, 0:00:32.280 --> 0:00:35.560 all the artificial intelligence throughout the show you need, from 0:00:35.560 --> 0:00:39.080 a potential bubble in AI stocks to an AI girlfriend, 0:00:39.360 --> 0:00:42.680 We've got you covered. Plus States versus companies will break 0:00:42.720 --> 0:00:45.199 down Disney's decision to pull back in Florida, look at 0:00:45.240 --> 0:00:48.600 the legal challenges facing Montana as TikTok users sue the 0:00:48.640 --> 0:00:51.800 state over the band. And in today's VC Spotlight will 0:00:51.800 --> 0:00:53.680 speak with the founder of Atomic Labs, one of the 0:00:53.680 --> 0:00:56.480 original backers of Hymns and hers Is. They announced their 0:00:56.520 --> 0:00:59.400 new three hundred and twenty million dollar fund. But first, 0:00:59.480 --> 0:01:02.720 let's check your on these markets and look nervousness. Nervousness 0:01:02.720 --> 0:01:05.800 about a debt ceiling demarcle continuing to erode some of 0:01:05.800 --> 0:01:07.560 that confidence as we go into a weekend. We're off 0:01:07.560 --> 0:01:09.320 by a tenth of a percent in terms of the NASDAK, 0:01:09.360 --> 0:01:11.479 just coming off of those lowers. But still worries about 0:01:11.520 --> 0:01:14.640 what Ja Powell is saying, of course, speaking the Fed chair, 0:01:14.720 --> 0:01:17.080 really looking as though he's in track for some sort 0:01:17.080 --> 0:01:19.679 of pause in June. That of course implicates what's happening 0:01:19.680 --> 0:01:21.240 with the two year yield and the ten year yield 0:01:21.280 --> 0:01:22.600 at the moment. Seeing a bit of a steepening of 0:01:22.640 --> 0:01:25.040 the curve, we're basically flapped down by about Wembus's point 0:01:25.080 --> 0:01:28.400 on the two year yield KBW Banking Index. Interesting one 0:01:28.400 --> 0:01:32.840 Treasury Secretary Janet Yellen maybe hinting at further deals M 0:01:32.880 --> 0:01:35.000 and A needed in the banking sectors. So the small 0:01:35.040 --> 0:01:36.920 regional lenders they drop one and a half percent. Move 0:01:36.920 --> 0:01:38.920 it on. Let's dig into some of the individual movers though, 0:01:38.959 --> 0:01:41.560 because we have seen actually Apple managing to probably even 0:01:41.600 --> 0:01:44.840 got the biggest, most impactful stock on the green. It's 0:01:44.880 --> 0:01:46.880 going to be helping big tech in general. Apple sort 0:01:46.880 --> 0:01:49.120 of bouncing back a little bit. Cisco bouncing back after 0:01:49.160 --> 0:01:51.840 that erosion in its market capitalization yesterday as we worried 0:01:51.840 --> 0:01:54.280 about its future. Sales are up two percent. Amazon though 0:01:54.600 --> 0:01:56.559 down one point four percent as we worry more about 0:01:56.560 --> 0:01:59.880 the inflationary consumer environment upon us. And let's dig into 0:01:59.880 --> 0:02:02.280 the macro picture right here, right now, because we want 0:02:02.280 --> 0:02:05.080 to give you the perspective on the Hill GOP debt 0:02:05.080 --> 0:02:09.200 ceiling negotiators, we understand abruptly just well leaving a closed 0:02:09.240 --> 0:02:12.920 door meeting with the White House representatives soon after it 0:02:12.960 --> 0:02:16.600 began really throwing the status of how we avoid a 0:02:16.720 --> 0:02:19.959 US to fault into doubt once again. Bloomberg's Kaylee lines 0:02:20.000 --> 0:02:21.600 some polace to say, Russia is to set for us 0:02:21.600 --> 0:02:24.359 and what do you think at the moment, what we're 0:02:24.440 --> 0:02:26.760 expecting to come out of today's discussion. 0:02:28.160 --> 0:02:31.280 Well, up until we got these headlines crossed within just 0:02:31.360 --> 0:02:34.560 the last hour in Change, Caroline, it was feeling much 0:02:34.600 --> 0:02:37.480 more positive. The mood music seemed much more optimistic. Speaker 0:02:37.520 --> 0:02:39.920 Tomcarthy himself was talking about the idea of having a 0:02:39.919 --> 0:02:42.280 deal in principle by the end of this weekend. That 0:02:42.360 --> 0:02:45.240 all seems to have changed as of this morning, which, 0:02:45.400 --> 0:02:47.800 as you say, saw that the negotiators on behalf of 0:02:47.800 --> 0:02:50.200 the speaker, led by Congressman Garrett Graves, walked out of 0:02:50.200 --> 0:02:53.200 this meeting saying the White House was being unreasonable, and 0:02:53.200 --> 0:02:55.240 Graves went on to say he didn't know if they 0:02:55.240 --> 0:02:57.000 were going to be meeting later today or even at 0:02:57.000 --> 0:02:59.440 all over the weekend, So that clearly throws the timeline 0:02:59.440 --> 0:03:00.720 into a bit of luck here. And we have to 0:03:00.800 --> 0:03:02.200 keep in mind that at the end of this weekend 0:03:02.240 --> 0:03:05.079 as well, the President is scheduled to return on Sunday 0:03:05.240 --> 0:03:07.720 from the G seven summit in Japan, where he currently is. 0:03:07.760 --> 0:03:09.520 Where it is right now about one in the morning, 0:03:09.560 --> 0:03:13.000 he is in all likelihood sleeping at the moment as 0:03:13.080 --> 0:03:15.080 this is crossing. And I would point to a tweet 0:03:15.120 --> 0:03:18.560 from the Senate Minority Leader Mitch McConnell saying it is 0:03:18.639 --> 0:03:21.320 only the President and Speaker McCarthy who can make a 0:03:21.320 --> 0:03:23.120 deal on this. They are the only two who can 0:03:23.160 --> 0:03:25.560 reach an agreement. Is past time for the White House 0:03:25.760 --> 0:03:28.400 to get serious. Time is of the essence, because remember 0:03:28.440 --> 0:03:31.239 Caroline Will less than two weeks away from June first. 0:03:31.480 --> 0:03:34.920 Well pointed out so sticking points that these two individuals 0:03:34.960 --> 0:03:37.920 need to unblok at the moment, Well. 0:03:37.800 --> 0:03:38.440 There's a few. 0:03:38.520 --> 0:03:41.120 One really big sticking point that seems to have emerged 0:03:41.160 --> 0:03:44.800 is around stricter work requirements for entitlements. This is something 0:03:44.840 --> 0:03:47.960 that Speaker McCarthy has previously described as a red line. 0:03:48.000 --> 0:03:50.840 It is something the President himself has signaled openness to 0:03:51.080 --> 0:03:53.880 except for in the cases of health related benefits like Medicaid. 0:03:54.160 --> 0:03:56.800 Yet many in the Democratic Party have pushed back against 0:03:56.800 --> 0:03:59.120 this idea. I've spoken with a number of progressive Democrats 0:03:59.120 --> 0:04:01.480 members of the Congression Black Caucus as well, who said 0:04:01.640 --> 0:04:04.320 they would vote no for any deal that included those 0:04:04.320 --> 0:04:08.080 stricter requirements. Then there's also just the question of spending caps, 0:04:09.720 --> 0:04:12.680 what the duration of them should be, where they should be, 0:04:12.720 --> 0:04:15.720 and Jivilie just the timeline for how long into the 0:04:15.720 --> 0:04:19.760 future the debt ceiling should be raised twenty twenty five 0:04:19.839 --> 0:04:23.080 after the elections of next year or sooner than that. 0:04:23.160 --> 0:04:24.839 So those are some of the points that need to 0:04:24.839 --> 0:04:27.560 be ironed out, and clearly they are having difficulty moving 0:04:27.600 --> 0:04:31.480 forward on those. As again, those negotiating on behalf of 0:04:31.520 --> 0:04:33.320 the speaker say that the White House is not being 0:04:33.360 --> 0:04:35.880 reasonable on this, will look for reaction from the White 0:04:35.880 --> 0:04:37.960 House negotiators themselves, Caroline. 0:04:37.640 --> 0:04:40.560 And reaction on market and asset prices at the moment 0:04:40.640 --> 0:04:43.160 then ASDAK bouncing off of its lows, but big implications 0:04:43.160 --> 0:04:45.400 for tech dot Colder is Kaylee brilliant, Thank you so 0:04:45.480 --> 0:04:48.320 much for joining us. Meanwhile, must turn our attention to 0:04:48.400 --> 0:04:50.480 the text stories that we've got to be digesting on 0:04:50.520 --> 0:04:54.240 the day Open Ai. It's bought that chatchebt genitor ai 0:04:54.360 --> 0:04:57.800 tool now to your smartphones more easily. We've got finally 0:04:57.839 --> 0:05:02.240 the iPhone version available of course to service Android Google 0:05:02.320 --> 0:05:04.800 owned Android devices in the future. Let's break it all down, 0:05:04.880 --> 0:05:07.080 Rachel met some place to say is here, and I'm 0:05:07.120 --> 0:05:09.320 sure it's a less clunky feel to sort of the 0:05:09.440 --> 0:05:12.640 user that is so addicted to chat GBT in all 0:05:12.640 --> 0:05:15.520 its forms at the moment. Just how broad is this going? 0:05:15.600 --> 0:05:18.360 Is it just in the US thus far? Yeah? 0:05:18.480 --> 0:05:21.320 Right now, it's just available in the US. It's a 0:05:21.360 --> 0:05:24.360 free app, but they said that they're planning to roll 0:05:24.360 --> 0:05:26.360 it out to more countries in the near future. And 0:05:26.480 --> 0:05:28.880 as you mentioned, there is an Android app planned in 0:05:28.880 --> 0:05:29.839 the near future as well. 0:05:30.240 --> 0:05:35.080 And yeah, the delay often companies make an Apple iOS 0:05:35.360 --> 0:05:38.360 app available before a Google Android. But is there something 0:05:38.360 --> 0:05:40.360 to be read into that in some way the competition 0:05:40.440 --> 0:05:43.160 of course between being Microsoft and Google in the like. 0:05:44.279 --> 0:05:47.240 Oh perhaps, I think that's actually a really good point. 0:05:47.320 --> 0:05:49.760 I mean, I think part of what we're seeing here 0:05:49.880 --> 0:05:54.640 is there's so many iOS users and they often you 0:05:54.720 --> 0:05:56.839 often have a lot of them that are using the 0:05:56.960 --> 0:05:59.200 same version of the souper at the same time, so 0:05:59.440 --> 0:06:01.479 it might be easier to hit a lot more people 0:06:01.480 --> 0:06:03.520 at the same time. Android can be a little bit 0:06:03.560 --> 0:06:04.800 more stratified. 0:06:04.880 --> 0:06:08.839 So that might be some of it. I think we'll 0:06:08.920 --> 0:06:09.200 have to. 0:06:09.120 --> 0:06:11.919 See when the Android out comes out with the difference is, 0:06:12.120 --> 0:06:12.480 you know. 0:06:12.800 --> 0:06:15.880 And just as we still try and work out just 0:06:15.920 --> 0:06:19.800 the unrolling of this particular app. It's interesting and kind 0:06:19.839 --> 0:06:23.920 of ironic, right that Apple itself has done what many 0:06:23.960 --> 0:06:26.520 companies are doing and just putting pools on using Chatchipt 0:06:26.720 --> 0:06:27.880 within its own walls. 0:06:31.360 --> 0:06:33.039 I'm so sorry that I couldn't hear the end of 0:06:33.080 --> 0:06:34.200 what you said. Could you repeat that? 0:06:34.240 --> 0:06:37.080 Of course, Rachel is Apple itself. It feels kind of 0:06:37.080 --> 0:06:42.000 ironic that Apple is perhaps stopping its own employees use chatchipt. 0:06:42.640 --> 0:06:45.360 Oh yes, we yeah, we've heard that that is going 0:06:45.360 --> 0:06:47.960 on there. And I mean, on the one hand, that's ironic, 0:06:48.000 --> 0:06:50.120 but I think it also speaks to the fact that 0:06:50.160 --> 0:06:52.320 a lot of companies are really trying to figure out 0:06:52.960 --> 0:06:57.080 how and if they can use this software, you know, 0:06:57.320 --> 0:07:01.599 and they don't want employees pushing through either personally identifiable 0:07:01.640 --> 0:07:04.680 information or company secret kind of stuff. But yes, it 0:07:04.760 --> 0:07:06.960 is a little ironic. That then there is an app 0:07:07.000 --> 0:07:10.440 available through the app Store for iOS so which you 0:07:10.440 --> 0:07:12.040 know a lot of Apple employees use iPhones. 0:07:12.200 --> 0:07:16.000 Yeah, and just from a consumer perspective, of course, Open 0:07:16.040 --> 0:07:19.400 AI Chat GPT. It was the fuel to the far 0:07:19.520 --> 0:07:22.200 of why we now talk about artificial intelligence day in 0:07:22.360 --> 0:07:25.520 day out. It really called the consumer imagination. The people 0:07:25.560 --> 0:07:28.160 you talk with, the consumer is using it at the moment, 0:07:28.280 --> 0:07:30.800 Are they in any way worried about privacy about their 0:07:30.840 --> 0:07:32.960 own chats, about the way in which it follows them 0:07:33.000 --> 0:07:34.840 around from one device to the next and they can't 0:07:34.840 --> 0:07:36.280 delete them. 0:07:36.720 --> 0:07:39.200 I mean, I think it sort of depends on the person. 0:07:39.600 --> 0:07:42.679 I haven't looked at the app into the app settings 0:07:42.720 --> 0:07:45.440 yet myself that specifically, but you may be able to 0:07:45.560 --> 0:07:49.320 turn off of the like the gathering of the data 0:07:49.680 --> 0:07:51.720 by opening eye, which you can do on the web. 0:07:52.000 --> 0:07:53.560 It wouldn't surprise me if there's that kind. 0:07:53.400 --> 0:07:54.040 Of setting in there. 0:07:54.160 --> 0:07:56.600 I mean, I think people definitely are thinking about where 0:07:56.640 --> 0:07:59.560 is my information going when I'm using this, But sometimes 0:07:59.600 --> 0:08:01.600 it's like, Hey, I just really want to get an 0:08:01.600 --> 0:08:04.680 interesting margarita recipe, and I think to actually. 0:08:04.440 --> 0:08:06.720 Be ticking helping with that. That's what I was doing 0:08:06.800 --> 0:08:09.600 yesterday sir, you are speaking my kind of language. Rachel. 0:08:09.640 --> 0:08:19.800 Let's thank you as we head towards this weekend. Forever 0:08:19.880 --> 0:08:22.480 Voices AI, you would have been reading about it, of 0:08:22.520 --> 0:08:24.520 course in the last few days. They're best known for 0:08:24.520 --> 0:08:26.840 a forever companion service, but it's working with some of 0:08:26.880 --> 0:08:29.840 the hottest influences on social media to allow users to 0:08:29.920 --> 0:08:33.440 interact with them using I guess their artificial intelligence. Just 0:08:33.480 --> 0:08:37.160 announced a new partnership with the twitch star amaranth joining 0:08:37.240 --> 0:08:40.160 us now for more on the experience. How it's continued 0:08:40.160 --> 0:08:42.400 to Snowball is John Mayer's founder and CEO of Forever 0:08:42.480 --> 0:08:46.320 Voices AI. It all started with Karen Marjorie was the 0:08:46.360 --> 0:08:48.960 one that really caught my attention. She now has eighteen 0:08:49.080 --> 0:08:54.480 thousand boyfriends through her own AI. Just have you been 0:08:54.480 --> 0:08:57.080 surprised by the uptick The desire to be having these 0:08:57.640 --> 0:09:00.760 sort of really in depth conversations with is someone you 0:09:00.800 --> 0:09:01.480 feel that you know. 0:09:02.920 --> 0:09:06.280 We've been absolutely astonished. You know. This whole story started 0:09:06.320 --> 0:09:09.760 with me wanting to reconnect with my late father in 0:09:09.920 --> 0:09:13.199 AI form using his voice and his personality. It turned 0:09:13.240 --> 0:09:15.959 out that was such a powerful technology that we then 0:09:16.000 --> 0:09:20.520 apply it to influencers that have these large followings fans 0:09:21.200 --> 0:09:24.079 that we'd love to meet and talk to and interact 0:09:24.640 --> 0:09:27.840 with these people. And so with our latest launch today 0:09:27.880 --> 0:09:31.760 with Amaranth, one of the top Twitch streamers in the world, 0:09:32.400 --> 0:09:35.000 you know, we're sort of further defining this new era 0:09:35.520 --> 0:09:39.120 of AI to human interaction where you can interact with 0:09:39.200 --> 0:09:43.320 an AI copy of the person you admire most. 0:09:44.200 --> 0:09:46.680 How do you, in fact some of the technology behind this, 0:09:46.800 --> 0:09:50.160 John just ultimately, how are you producing these voices? What 0:09:50.400 --> 0:09:51.640 sets you apart from others? 0:09:52.840 --> 0:09:55.000 So what we've done here is we've taken a baseline 0:09:55.080 --> 0:09:58.520 large language model and we've applied these proprietary layers on 0:09:58.559 --> 0:10:01.359 top of that that we built, such as a personality 0:10:01.400 --> 0:10:07.160 engine that develops these immerse, deep personalities of ais in 0:10:07.200 --> 0:10:10.000 this case Amaranth or Karen that we launched last week, 0:10:10.559 --> 0:10:13.840 where they exhibit feelings, you know, they can connect with 0:10:13.880 --> 0:10:16.200 you on a deep level, they can share insights. So 0:10:16.240 --> 0:10:18.640 that's what our personality engine does. And then we also 0:10:18.679 --> 0:10:21.520 have our voice engine, which is really powerful. So that 0:10:21.559 --> 0:10:25.319 allows us to take really just about ten minutes, let's say, 0:10:25.760 --> 0:10:28.640 of audio of an influencer that we sign a deal 0:10:28.679 --> 0:10:31.560 with where we're getting their rights to their likeness and 0:10:31.679 --> 0:10:35.760 voice and actually replicate their voice in AI form to 0:10:35.880 --> 0:10:40.400 democratize access to their fan base, trying to interact with them. 0:10:41.160 --> 0:10:43.880 John, you share in a motive story as to why 0:10:43.920 --> 0:10:47.800 you first started this wanting to continue a relationship in 0:10:47.840 --> 0:10:50.360 an AI form with your late father. Similar story for 0:10:50.400 --> 0:10:53.080 the founder of Replica and her lost friend and a 0:10:53.080 --> 0:10:56.640 car crash. Now, a lot of Replica's viewpoint is this 0:10:56.679 --> 0:11:00.439 is about mental health as well as having companionship. I'm 0:11:00.440 --> 0:11:03.079 interested in the safeguards that you can in place because ultimately, 0:11:03.160 --> 0:11:06.160 if you'll, as you say, blurring the lines between reality 0:11:06.200 --> 0:11:09.520 and virtual interaction, there must be some super fans who 0:11:09.640 --> 0:11:10.959 could get a bit confused here. 0:11:12.040 --> 0:11:15.640 Absolutely. So what we've done is out of the conversations 0:11:15.679 --> 0:11:18.960 with our ais develop if you're speaking to our Karen 0:11:19.040 --> 0:11:23.360 AI or today now with amirants from Twitch, what we've 0:11:23.360 --> 0:11:26.960 done is we've implemented procedures that have automatic detection of 0:11:27.000 --> 0:11:32.520 a variety of situations from mental health situations to overuse, 0:11:32.679 --> 0:11:36.120 and so the AI will actually in real time either 0:11:36.160 --> 0:11:39.760 slow the conversation down if a conversation is going too long, 0:11:39.880 --> 0:11:43.079 or if it appears someone might be getting let's say addicted, 0:11:43.520 --> 0:11:45.720 And then what we've also done is built a mental 0:11:45.760 --> 0:11:50.960 health engine to detect various states of depression, anxiety, and 0:11:51.040 --> 0:11:54.040 soon to be even cases of bipolar disorder among users 0:11:54.280 --> 0:11:56.560 so that we can in real time connect them with 0:11:56.720 --> 0:12:01.880 human therapists and human RAN emerge hotlines if it's ever needed. 0:12:02.800 --> 0:12:05.480 Totally can understand the building of the business for i'mn 0:12:05.559 --> 0:12:09.880 for example, on only fans already just supplementing how much 0:12:10.440 --> 0:12:13.520 she can go out and build and profit from this. 0:12:13.840 --> 0:12:16.240 But who else are you speaking to? And how many 0:12:16.360 --> 0:12:19.720 actually celebrities are worried about their voices being generated without 0:12:19.800 --> 0:12:22.240 their rights involved. How people trying to get ahead of 0:12:22.240 --> 0:12:22.840 the curve with it. 0:12:24.000 --> 0:12:27.120 Well, you know, before this whole story went viral last 0:12:27.160 --> 0:12:30.160 week of us at Forever Voices AI turning you know, 0:12:30.200 --> 0:12:34.600 the first influencer into an AI girlfriend, we've seen hundreds 0:12:34.640 --> 0:12:38.120 of other influencers and celebrities reach out in a matter 0:12:38.200 --> 0:12:40.840 of you know, the first forty eight hours, and so 0:12:40.960 --> 0:12:43.560 there's been a bit of a transformation over this last 0:12:43.800 --> 0:12:46.560 you know, seven to ten days since since this whole 0:12:46.559 --> 0:12:49.319 story went around the world, that has opened up people's 0:12:49.400 --> 0:12:53.960 minds to the idea of replicating themselves in AI form, 0:12:54.360 --> 0:12:58.120 not only as a means of adding additional revenue to 0:12:58.240 --> 0:13:01.080 your you know, your content creator business, but as a 0:13:01.120 --> 0:13:04.040 way again of interacting with fans in this entirely new 0:13:04.080 --> 0:13:07.400 way via you know, this immersive two way audio experience 0:13:07.440 --> 0:13:09.080 and even soon to be video as well. 0:13:09.840 --> 0:13:13.199 In your original business, did you have rights to those 0:13:13.240 --> 0:13:15.079 celebrities when you were building those voices? 0:13:17.000 --> 0:13:19.480 So what we started with with Forever Voices was really 0:13:19.880 --> 0:13:22.960 a series of demos that you know, leverage the technology 0:13:23.000 --> 0:13:25.160 to show the world what is possible. And so what 0:13:25.200 --> 0:13:28.480 we've done is we simply donated any proceeds from let's say, 0:13:28.600 --> 0:13:33.880 an unlicensed demo of let's say Grimes before you know, 0:13:33.920 --> 0:13:36.360 we get a deal done with our to charity. But 0:13:36.520 --> 0:13:40.480 the core of our business is through these signed license 0:13:40.559 --> 0:13:44.040 deals with influencers and celebrities such as the one you 0:13:44.080 --> 0:13:45.200 know we're announcing. 0:13:44.800 --> 0:13:47.480 Today with m Own. Okay, so Grimes, there's a hint 0:13:47.520 --> 0:13:50.200 there that's discussions. What about your own discussions, what about 0:13:50.200 --> 0:13:52.000 your own fundraising? Because I'm sure there might have been 0:13:52.000 --> 0:13:53.640 a few vcs picking up the phone too as well 0:13:53.640 --> 0:13:54.360 as celebrities. 0:13:55.080 --> 0:13:56.840 Yeah, it's been a whirlwind of a week. I mean, 0:13:56.840 --> 0:13:59.880 we've been in talk with everyone from you know, index to. 0:14:00.520 --> 0:14:01.040 And so on. 0:14:01.360 --> 0:14:04.680 And you know, we are in a position now where 0:14:04.720 --> 0:14:08.040 we're you know, really turning this into a hyperd scalable 0:14:08.120 --> 0:14:11.079 business where we see a future in the very near 0:14:11.160 --> 0:14:15.920 future and I'm talking next two years where every significant 0:14:15.960 --> 0:14:18.600 influencer that is, you know, looking to make a living 0:14:18.640 --> 0:14:23.040 off of content or you know, let's say YouTube, Twitch, Instagram, 0:14:23.120 --> 0:14:26.000 what have you, we'll raise their hand up and say 0:14:26.200 --> 0:14:29.440 I want to create an AI version of myself. We 0:14:29.560 --> 0:14:32.360 see every influencer having these in the next one to 0:14:32.440 --> 0:14:33.200 two years. 0:14:33.600 --> 0:14:36.400 John Mayer, keep us in the loop on it. Found 0:14:36.400 --> 0:14:39.200 our CEO Forever Voices AI. Thanks for your time there 0:14:39.360 --> 0:14:43.160 from Austin today. Meanwhile, coming up new voices and new 0:14:43.200 --> 0:14:46.600 moves from Disney that will reshape its business in Florida 0:14:46.640 --> 0:14:50.400 or amid an intense battle with the state's governor, Let's 0:14:50.400 --> 0:14:52.720 just take a quick check on Tesla, because we've got 0:14:52.760 --> 0:14:56.200 more on a key story of international growth or indeed 0:14:56.440 --> 0:14:58.880 supply chain for this particular business. How are they eyeing 0:14:58.960 --> 0:15:01.120 India at the moment? All in Talking Tech that's up 0:15:01.160 --> 0:15:12.760 next from New York. That's a bloomberg. It is time 0:15:12.800 --> 0:15:15.640 now for Talking tech. First up by Jews Alpha, one 0:15:15.720 --> 0:15:18.760 of India's hottest tech companies. It's been accused of hiding 0:15:18.800 --> 0:15:21.360 five hundred million dollars from its lenders now. The allegation 0:15:21.520 --> 0:15:24.000 came out of a court hearing on Thursday, where by 0:15:24.080 --> 0:15:27.600 Jews Alpha faces a lawsuit over who should control the company. 0:15:27.720 --> 0:15:30.080 The dispute is the latest setback for the self proclaimed 0:15:30.120 --> 0:15:34.320 biggest education technology company in the world. Meanwhile, sticking with India, 0:15:34.360 --> 0:15:37.400 a group of Tesla executives traveled to the country talk 0:15:37.440 --> 0:15:41.480 about locally sourcing components and government incentives, but stop short 0:15:41.480 --> 0:15:44.560 of proposing any sort of manufacturing its cars in the country. 0:15:44.720 --> 0:15:47.760 That's while Tesla will eventually look to establish domestic factory 0:15:47.760 --> 0:15:50.480 in India, sources say the automaker is actually still concerned 0:15:50.480 --> 0:15:54.360 about India's high tariffs on important cars. And another mask 0:15:54.400 --> 0:15:57.880 related news, his lawyer apparently has puned the CEO of Microsoft, 0:15:57.920 --> 0:16:01.080 accusing the company of violating its data agreement with Twitter. 0:16:01.280 --> 0:16:01.400 Now. 0:16:01.440 --> 0:16:04.600 The letter says that Microsoft has excessed to access to 0:16:04.640 --> 0:16:07.600 Twitter's data for an extended period of time and comes 0:16:07.640 --> 0:16:09.480 on the hills of course, the Microsoft moves to drop 0:16:09.520 --> 0:16:12.760 Twitter from its own platform. In a mask course, He's 0:16:12.800 --> 0:16:17.600 been pretty vocal critic of Microsoft's investment in Open Ai. Meanwhile, 0:16:17.680 --> 0:16:20.120 let's just talk about Disney for a moment, because it's closing. 0:16:20.200 --> 0:16:24.440 That much discussed the luxury hotel at Walt Disney World 0:16:24.440 --> 0:16:26.960 in Florida. It's actually Nixon plans to relocate two thousand 0:16:26.960 --> 0:16:30.040 workers to the state, and it's all amid this embroiled 0:16:30.040 --> 0:16:32.760 battle with the governor DeSantis, and all is carrying on 0:16:32.920 --> 0:16:34.640 present to get us up to speak, Chris Maum Murray 0:16:34.720 --> 0:16:37.040 now joins us, of course, of Bloomberg and Chris, I 0:16:37.080 --> 0:16:40.640 remember the fanfare around that Star Wars related hotel. It 0:16:40.720 --> 0:16:44.840 was extraordinarily expensive. I seem to remember, why are we 0:16:45.160 --> 0:16:47.920 thinking it's being closed? Was it because it's Bob japex 0:16:48.000 --> 0:16:49.400 baby or it's too expensive? 0:16:50.680 --> 0:16:53.840 Certainly was Bob JPEG's idea. It began when he was 0:16:53.880 --> 0:16:55.920 heading the park, so even before he was CEO. It 0:16:55.960 --> 0:16:58.240 takes a long time to build those things. Okay, it 0:16:58.320 --> 0:17:03.280 was a risky project. And you know this totally immersive hotel. 0:17:03.680 --> 0:17:06.600 He doesn't even have windows in the rooms. You're going 0:17:06.600 --> 0:17:10.040 there for two days and just spend pretending you're going 0:17:10.080 --> 0:17:12.560 in space and a Star Wars experience. It was very expensive. 0:17:12.640 --> 0:17:16.000 Started at almost five thousand dollars a couple for two days. 0:17:16.800 --> 0:17:20.159 And so it started off initially, you know, pretty strong, 0:17:20.240 --> 0:17:23.320 but then very quickly you started to see plenty of 0:17:23.400 --> 0:17:26.720 dates available. They never lowered the price, which I thought 0:17:26.760 --> 0:17:30.400 was interesting, and I think it's just such an odd 0:17:30.440 --> 0:17:34.360 ball property, only one hundred rooms. There's not a lot 0:17:34.480 --> 0:17:37.040 you could do with that space. So right now they're 0:17:37.119 --> 0:17:39.320 just shutting it down and figuring out what's next. 0:17:40.600 --> 0:17:43.320 And at the same time, they're not going to be 0:17:43.920 --> 0:17:47.040 spending a lavish amount of money on new h well, 0:17:47.160 --> 0:17:51.000 new office digs. They're going to be amid this ongoing 0:17:51.080 --> 0:17:54.080 narrative that they've basically falling out big time with Rondo Sanders. 0:17:54.080 --> 0:17:56.439 We know that they've sued him. How is this all 0:17:56.480 --> 0:17:58.640 playing out in terms of just the relationship with such 0:17:58.640 --> 0:18:00.400 a key employer in the state of Florida. 0:18:01.320 --> 0:18:04.760 Well, Bob Iger Disney CEO's directly turning up the heat. 0:18:04.800 --> 0:18:06.640 I mean, he said on the earnings call last week 0:18:06.760 --> 0:18:09.720 that hey, folks, their jobs and investment dollars at State 0:18:09.800 --> 0:18:12.840 here at Florida, and this week he really backed it up. 0:18:13.400 --> 0:18:15.960 So total reversal on the plan to move two thousand 0:18:15.960 --> 0:18:20.639 employees from California to Florida, you as a governor. Desantisis 0:18:20.640 --> 0:18:23.879 spokesperson noted this is happening at a time general up 0:18:23.920 --> 0:18:26.639 people at Disney. They're looking for ways to cut costs. 0:18:27.840 --> 0:18:30.200 But you know, Disney's even flagged that they want to 0:18:30.240 --> 0:18:33.640 invest seventeen billion dollars in Florida over the next ten years. 0:18:33.680 --> 0:18:35.960 But maybe they won't be able to do that anymore. 0:18:36.800 --> 0:18:39.240 The reality is they have to keep investing in the parts. 0:18:39.280 --> 0:18:42.399 But if there's a project like this move that's unpopular 0:18:42.480 --> 0:18:45.480 internally and expensive, maybe they'll just mix that. 0:18:47.000 --> 0:18:50.960 Overall. How much do you think this is ultimately costing 0:18:51.000 --> 0:18:54.359 the company in terms of well, either distraction to a 0:18:54.359 --> 0:18:56.560 certain degree or just an unknown for those that they 0:18:56.600 --> 0:18:57.160 employ there. 0:18:58.119 --> 0:19:02.640 It's a huge unknown. You saw a Macquarie down grade 0:19:02.680 --> 0:19:06.200 to the stock today in Disney's down of bits. There's 0:19:06.200 --> 0:19:10.080 a lot of uncertainty. The traditional TV networks profits are falling, 0:19:10.480 --> 0:19:12.840 the streaming business still losing money. The parks have been 0:19:12.880 --> 0:19:16.560 the star, but how long can that continue? So there's 0:19:16.600 --> 0:19:19.359 definitely an impact on this when you enter the world 0:19:19.359 --> 0:19:22.040 of politics. There are some people maybe won't go to 0:19:22.080 --> 0:19:24.200 the parks, won't see their movies because of the stance 0:19:24.240 --> 0:19:29.280 the company is taking, and so it's it's a difficult 0:19:29.280 --> 0:19:30.640 world for Bob vigrating them. 0:19:30.720 --> 0:19:34.000 Yeah, we see near ten uncertainties weighing on earnings, valuation 0:19:34.119 --> 0:19:37.240 and sentiment. So says Timothy Nolan, he's ever at mcquarie 0:19:37.280 --> 0:19:41.560 at the moment we reference. Do you think ultimately we're 0:19:42.200 --> 0:19:45.520 likely to see still focus on cost cutting, still worry 0:19:45.520 --> 0:19:47.679 of course about the issue of whether they have to 0:19:47.680 --> 0:19:50.199 far more talent and let go of more people. Are 0:19:50.200 --> 0:19:51.960 we through the worst of it now? Do you think 0:19:51.960 --> 0:19:55.359 in terms of the trimming down of this business. 0:19:55.760 --> 0:20:00.159 Well, there's no doubt Bob Iger's being very aggressive. A 0:20:00.240 --> 0:20:04.400 thousand people being laid off. We broke the news yesterday 0:20:04.400 --> 0:20:07.800 that they're pulling all these TV shows for Disney Plus 0:20:07.800 --> 0:20:12.000 and Hulu. These were shows that they've made in this 0:20:12.280 --> 0:20:14.640 great early push and this streaming to sign up as 0:20:14.640 --> 0:20:17.639 many subscribers as we can, and it's cost money to 0:20:17.720 --> 0:20:21.840 keep these shows on the service, So they're looking for 0:20:21.920 --> 0:20:25.399 ways to cut all over the company. My guess is 0:20:25.440 --> 0:20:28.399 that we'll start to see that improvement in you know, 0:20:28.600 --> 0:20:31.880 not this fiscal year next one, and so that may 0:20:31.920 --> 0:20:34.080 be the story for twenty twenty four. A Disney the 0:20:34.200 --> 0:20:36.960 great turnaround, but right now it's definitely work in progress. 0:20:37.320 --> 0:20:39.000 Chris, it's always great to catch up with you. Thank you, 0:20:39.119 --> 0:20:43.040 Chris Peal Murray on the enormous amount of business and 0:20:43.359 --> 0:20:46.479