WEBVTT - Single Best Idea with Tom Keene: David Malpass & Ed Ludlow

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, Single Best Idea it's

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<v Speaker 1>on an Apple podcast. Thank you for your interest in

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<v Speaker 1>the single Best Idea, subscribing to it and out on

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<v Speaker 1>LinkedIn and Twitter's where I'm telling you about it each

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<v Speaker 1>and every day. Thank you to Elizabeth Economy yesterday. That

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<v Speaker 1>was just a brilliant, brilliant interview I put out on

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<v Speaker 1>LinkedIn and Twitter today her important essay from Foreign Affairs

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<v Speaker 1>magazine on China. It is blistering about the path forward

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<v Speaker 1>for the United States, and we heard some of that.

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<v Speaker 1>You go back, you know, if you subscribe, you go

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<v Speaker 1>back and you can see previous interviews. If you choose

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<v Speaker 1>today is interesting and it was such a joy to

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<v Speaker 1>always and forever bring in the gentleman from bear Stearns.

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<v Speaker 1>David Malpass was it bear Stearns head of Economics with

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<v Speaker 1>John Writing, and David Malpass wrote brilliantly the word that

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<v Speaker 1>I always subscribe to him as fast. Whenever he's talking

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<v Speaker 1>about economic dynamics, he'll talk about fast the movements that

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<v Speaker 1>are out there. And he's gone on to great acclaim,

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<v Speaker 1>of course, running the World Bank for a tour of duty.

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<v Speaker 1>Now he's a private citizen and he joined us in

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<v Speaker 1>the studio today and he's really on fire at any

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<v Speaker 1>number of topics. And then he started, you know, bad

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<v Speaker 1>mouthing where he lives. I mean, okay, you know it's

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<v Speaker 1>we all do that except David Malpass. He lives in Washington.

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<v Speaker 1>And here's David Malpass on his swamp.

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<v Speaker 2>So Washington is a swamp. The parts, all the parts

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<v Speaker 2>work together to make Washington bigger and more profitable. That's

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<v Speaker 2>a risk. And the World Bank is part of that.

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<v Speaker 2>It's headquartered and centered in Washington. One thing I learned,

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<v Speaker 2>Tom was how hard it is to get any other

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<v Speaker 2>country to do the right thing. It's just as hard

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<v Speaker 2>outside the US as in the US. So if you

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<v Speaker 2>take Nigeria, why is this oil rich country so poor?

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<v Speaker 2>They've got a huge, extreme poverty rate. Why is that

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<v Speaker 2>because the government takes all the profits from oil and

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<v Speaker 2>wastes it.

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<v Speaker 1>David Meltpass, the former president of the World Bank. I

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<v Speaker 1>walked in this morning, Eric, who drives all of our coverage.

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<v Speaker 1>He said to me, Tom, I got a memo they

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<v Speaker 1>want you to say. It's in Vidia day. And Paul

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<v Speaker 1>and I just revolted. I mean, we had tantrums our

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<v Speaker 1>lawyers were brought in. You know, we're just not going

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<v Speaker 1>to do it. There's jobs day, there's CPI Day. And

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<v Speaker 1>then Sparta sat me down and said, you'll love saying

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<v Speaker 1>Nvidia Day. So we said Nvidia Day all morning, and

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<v Speaker 1>so you got Nvidia coming out this afternoon. Look for that.

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<v Speaker 1>I'm Bloomberg Radio on YouTube worldwide on Apple car Play

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<v Speaker 1>with Carol and Tim O full coverage. You don't have

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<v Speaker 1>lots of experts on the expert for us as a

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<v Speaker 1>guy driver the franchise at Bloomberg Technology, Edward Ludlow coming

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<v Speaker 1>off is big conversation with Michael dell Jensen. Is it

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<v Speaker 1>wang is waying Wang Wang? Okay, I don't even know

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<v Speaker 1>how to pronounce the CEO, the good CEO of in

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<v Speaker 1>Vidia's name. I'm sorry for that. I'll work on that

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<v Speaker 1>for tomorrow. But the bottom line is Ludlow's connected. Besides that,

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<v Speaker 1>he wears the shoes of the white souls here from

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<v Speaker 1>Bloomberg Technology on in Nvidia, Ed Ludlow.

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<v Speaker 3>This simplest explanation is just to do the numbers as

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<v Speaker 3>we have them for twenty twenty four, So in Vidio

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<v Speaker 3>will sell forty billion dollars worth of high performance GPUs

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<v Speaker 3>or AI accelerators. This year, AMD has raised its forecast

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<v Speaker 3>to say it will sell four point five billion dollars,

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<v Speaker 3>so ten x less, and Intel's nowhere to be seen.

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<v Speaker 3>They might do five hundred million. And that is why

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<v Speaker 3>we define this afternoon's earnings report as the mum of

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<v Speaker 3>all earnings, the most important stock in the planet Goldman

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<v Speaker 3>in February. It is the be all and end all

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<v Speaker 3>of this earning season. And it's you know, it's more

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<v Speaker 3>than five percent in waiting terms of the S and

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<v Speaker 3>P five hundred, So brace for a macro event at.

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<v Speaker 1>Ludlow Ninnvidio will brace for that. I have an opinion

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<v Speaker 1>it's about as useless as anything else. I have an opinion.

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<v Speaker 1>I really have no clue. I really don't understand it.

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<v Speaker 1>Full disclosure. I'm not sure I understand the future of AI.

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<v Speaker 1>I've got lots of people telling me AI is this

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<v Speaker 1>AI is that. I'm like, well, okay, I'm waiting. I've

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<v Speaker 1>got a good source that says, you know, computer programming

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<v Speaker 1>chat GPT. I would not if you handed it to me,

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<v Speaker 1>but they say, you know it works in computer program

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<v Speaker 1>I mean, it's really revolutionary, and there's a lot of believers,

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<v Speaker 1>and we'll see that with all the worker doing here

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<v Speaker 1>on in Vidia Day social announcement, you're warned out on

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<v Speaker 1>live chat on YouTube now Lisa Mateo. It immediately brightens

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