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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: This is the Bloomberg Surveillance Podcast. I'm Tom Keene along

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Speaker 2: with Paul Sweeney. Join us each day for insight from

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Speaker 2: the Bloomberg Terminal, and the Bloomberg Business App.

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Speaker 1: Join us now.

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Speaker 2: A guy who doesn't believe in a hold John Stolfus

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Speaker 2: just says, be in the market, participate thrill to could

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Speaker 2: join us today? Sean, where's SPX a year out?

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Speaker 3: I think it's well over six a year out, But

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Speaker 3: it'll depend upon what we're looking for, you know, in

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Speaker 3: terms of from the FED and also what the new

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Speaker 3: administration does or the because it'll be a new administration

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Speaker 3: irregardless of who wins, right, I mean it terms from

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Speaker 3: what we just.

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Speaker 2: Know, But what's the earning service? Is a Kate moron

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Speaker 2: from Black Rock and I said, you know, I don't

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Speaker 2: know if I got a rock star answer from her.

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Speaker 2: But John what do your security analysts say earnings will

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Speaker 2: be out a year? Do we get the same earnings

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Speaker 2: love that we had the last ninety days?

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Speaker 3: I would say overall, I don't want to speak for them, well,

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Speaker 3: I can speak for our team. We would expect that

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Speaker 3: we're going to see revenue and earnings growth will continue

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Speaker 3: so long as we remain on a path where we

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Speaker 3: have a federal reserve that remained sensitive to practicing its mandate,

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Speaker 3: and we continue to see resilience, whether it's in business,

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Speaker 3: the consumer, or to some degree at least in terms

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Speaker 3: of job postings. Although I understand that I think it's

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Speaker 3: Wednesday or Thursday we get that revision number, it'll be

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Speaker 3: interesting to see what that job's number looks like in

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Speaker 3: terms of inaggregate thus far.

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Speaker 1: Johnny, you mentioned to FED a couple of times.

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Speaker 4: Here.

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Speaker 1: We're going to hear from FED chairman j Pal later

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Speaker 1: this week in Jackson Hole.

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Speaker 5: What do you expect to hear? Are you expecting any

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Speaker 5: surprises whatsoever?

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Speaker 3: You know, I'm not. I'm expecting him to remain His

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Speaker 3: general message has been one that will likely continue in

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Speaker 3: Jackson the Hole this week, it'll probably be essentially the

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Speaker 3: FED has made great progress, they remain data dependent, are

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Speaker 3: looking for the confidence to begin to lower rates, and

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Speaker 3: I think generally it'll be with one It'll be an

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Speaker 3: intimation that likely the market is going to get I

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Speaker 3: shouldn't say the market, but the FED is to provide

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Speaker 3: Main Street and Wall Street with a down payment that

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Speaker 3: will look probably like a twenty five BIPs cut. But

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Speaker 3: he won't talk about that directly, Jenny.

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Speaker 2: If I say to people, corporations adapt, and I guess

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Speaker 2: I've been right on that for two years, but you

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Speaker 2: know who knows about the next year. But when I

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Speaker 2: say corporations for adapt, how do you translate that? Is

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Speaker 2: they adapt on capital spending? Do they adapt on headcount?

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Speaker 2: How do actual companies adapt?

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Speaker 3: I think they adapt on both of those that you

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Speaker 3: just mentioned, capax and headcount. It certainly showed up in

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Speaker 3: terms of technology, in terms of the technology companies last

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Speaker 3: year when they began cutting in the market like that,

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Speaker 3: when they were beginning to cut a warehoused employees, and

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Speaker 3: then in terms of tap as. I think people investors

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Speaker 3: are generally pleased to see that the investment in AI

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Speaker 3: is just within technology and communications services, but it's across

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Speaker 3: the other nine sectors as well. As business looks for

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Speaker 3: to create greater efficiencies, I think, by the way, I

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Speaker 3: also think the consumer is going to look for greater efficiencies.

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Speaker 3: That's why you know, when you get upgrades coming in smartphones,

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Speaker 3: that'll be something that should benefit those manufacturers. Without being

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Speaker 3: specific on names.

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Speaker 5: Hey, John, pretty much getting gotten through these earning cycle.

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Speaker 5: Here we have some retailers this week. What's your takeaway?

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Speaker 5: Were there earnings good enough to keep this market moving?

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Speaker 3: Oh? I think so. I think if anything. You know,

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Speaker 3: when we look at the earnings, we've got four sectors

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Speaker 3: double digit earnings growth. And as I recall, and I'm

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Speaker 3: not just going to say, I recall it's the best

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Speaker 3: in line was healthcare sixteen point five percent so far

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Speaker 3: with about ninety three percent of companies having reported. The

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Speaker 3: utes utility is fifteen points q three percent earnings growth.

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Speaker 3: And then you've got community, You've got consumer discretionary thirteen

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Speaker 3: point nine percent. You'd never believe it based on the

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Speaker 3: performance for consumer discretionary stock. What is it?

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Speaker 2: I mean, we're talking to a guy dressed conservatively. We

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Speaker 2: just talked to Dan Ives, who was irresponsibly colorful today.

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Speaker 2: What is Apple and MAG seven going to do?

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Speaker 3: John Stolfus, Well, I've got to say, let me I

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Speaker 3: can comment on MAG seven rather than an individual company, Beau,

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Speaker 3: since I heard you know, I manage money. The OpCo

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Speaker 3: doesn't like me pitching my buscher. But I can say

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Speaker 3: this related to MAG seven, I would expect that they

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Speaker 3: will continue to be where investors will look for now

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Speaker 3: in terms of earnings growth that generally remains ahead of

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Speaker 3: other sectors, though this most recent sector showed it was

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Speaker 3: it was healthcare, the utes and consumer discretionary with the

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Speaker 3: double digit action was so I think it's a broadening

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Speaker 3: of the effect as we go forward. And while I

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Speaker 3: think the Magium will remain in the leadership, it will

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Speaker 3: not necessarily be that which is the lead dog, so

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Speaker 3: to speak, in the back.

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Speaker 2: Just so, flake Dog, thank you so much. Love to

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Speaker 2: hear you talk about the YouTube. Kaylee Lines, good morning

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Speaker 2: from Chicago. Do you know how to drive a car

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Speaker 2: with a clutch?

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Speaker 6: I have no idea.

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Speaker 1: There we go.

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Speaker 2: We welcome Kaylee Lines at the DNC with balance of power. Kayley,

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Speaker 2: I want to go to tonight and President Obama speaking

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Speaker 2: and I think there's so many people that don't understand

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Speaker 2: what Joe Biden wrought. In two thousand and eight first term,

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Speaker 2: Obama got sixty nine million votes. Joe Biden got seventeen

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Speaker 2: percent more votes, eighty one million. How does Vitvident Harris

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Speaker 2: do a Biden and get that kind of turnout, that

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Speaker 2: kind of eighty one million popular votes.

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Speaker 6: Well, that kind of turnout, Tom Frankly, is something that

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Speaker 6: money can help you buy, or at least you can

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Speaker 6: invest in the resources to drive the turnout to vote

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Speaker 6: effort in the swing states that ultimately will decide this election.

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Speaker 6: And certainly the Harris campaign does have ample money to spend.

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Speaker 6: They raised three hundred and ten million dollars just in

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Speaker 6: the month of July, the campaign said yesterday, sixty percent

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Speaker 6: of that was from women in particular, So turnout in

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Speaker 6: the women demographic is going to be important. That's something

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Speaker 6: that was alluded to on the convention floor last night

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Speaker 6: as they specifically focused on the issue of reproductive rights,

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Speaker 6: heard stories of people's pregnancies and miscarriage or inability to

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Speaker 6: access a board of care, and that is something a

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Speaker 6: big theme that this convention is focusing on as they

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Speaker 6: try to drive turnout not just among female voters, but

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Speaker 6: also among certain demographics like Latino and Black.

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Speaker 2: Well, that's where I wanted to go. What's the Latino

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Speaker 2: focus in Chicagoeos features that today and to me, the

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Speaker 2: turnout dynamic that pure Research identifies is about Latino. Tell

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Speaker 2: give us a vignette of Latino visibility.

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Speaker 6: Well, the Pew Research survey you're alluding to, Tom that

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Speaker 6: came out last week shows that Harris does have a

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Speaker 6: solid lead with Latino voters over Donald Trump. It's something

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Speaker 6: to the tune of about seventeen points, and when Biden

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Speaker 6: was still in the race, he was effectively tied with

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Speaker 6: Trump in that demographic. We actually spoke here on set

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Speaker 6: in Chicago yesterday with Frankie Miranda, who runs the Hispanic Federation.

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Speaker 6: They have done specific polling on this, and he told

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Speaker 6: us fifty seven percent of Latinos that they surveyed say

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Speaker 6: they are now more enthusiastic and interested in this election

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Speaker 6: cycle since Kamala Harris entered the race. He said, seventy

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Speaker 6: three percent of registered Latino voters are now almost certain

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Speaker 6: that they are going to vote in this election cycle,

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Speaker 6: and that could be critical in certain states. Includingling states

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Speaker 6: like Nevada, where the New York Times in Siena polling

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Speaker 6: that came out over the weekend found Harris within one

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Speaker 6: point Donald Trump. So the Latino vote could make a

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Speaker 6: big difference in a state like that.

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Speaker 2: I don't know where clicks in Paul, but we get

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Speaker 2: to a point where turnout is the only thing discussed.

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Speaker 2: Policy doesn't matter, that doesn't matter.

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Speaker 1: All it's going to be is get out the vote,

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Speaker 1: Get out the vote, Kaylee.

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Speaker 5: The Democratic Party came into Chicago with some pretty solid momentum,

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Speaker 5: with VP Harrish being named the top of the ticket here.

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Speaker 5: They had a good first night, it seemed like last night.

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Speaker 5: What's the level of optimism in Chicago these days among

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Speaker 5: party faithful.

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Speaker 6: Well, there's a lot of energy.

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Speaker 7: Tom.

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Speaker 6: Democrats, especially at the highest levels, are very enthusiastic about

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Speaker 6: the Harris Walls ticket, and frankly, it seems to be

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Speaker 6: quite relieved that this is a convention celebrating that and

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Speaker 6: not a convention filled with dread about whether or not

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Speaker 6: Joe Biden, as an octagenarian, would be able to ultimately

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Speaker 6: win the election in November. Of course, it was an

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Speaker 6: emotional night in Chicago last night when Joe Biden gave

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Speaker 6: his address very late into the evening, he talked well

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Speaker 6: past midnight on the East Coast about his legacy, but

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Speaker 6: he tied that much to the effort of not just

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Speaker 6: him as president, but also Kamala Harris as vice president.

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Speaker 6: I will say, though, while the Democratic Party is trying

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Speaker 6: to preach this notion of unity that they have all

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Speaker 6: coalesced behind this ticket, divisions are still certainly present. You

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Speaker 6: see a lot of that outside the United Centers. There's

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Speaker 6: been thousands of protesters protesting over the ongoing war in Gaza,

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Speaker 6: and that's why developments in regard to a potential ceasefire,

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Speaker 6: which Israel has agreed to Hamas the jury is still

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Speaker 6: out on. But the political timing of that if it

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Speaker 6: comes to frush and certainly can't go without notice. The

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Speaker 6: effort toward a ceasefire was raised by Biden last night,

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Speaker 6: it was raised by progressives like Congressman and Alexandria Costio Cortez,

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Speaker 6: who also spoke on the floor, and I would guess

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Speaker 6: that it's going to come up repeatedly, potentially in Harris's

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Speaker 6: own remarks on Thursday night.

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Speaker 5: So going to there, Kaylee, VP, Harris's remarks on Thursday.

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Speaker 5: A lot of the country, most of the country is

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Speaker 5: still trying to get to know Kamala Harris. What do

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Speaker 5: we expect to hear from her on Thursday? What do

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Speaker 5: you think the tone and the meat of the speech

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Speaker 5: will be.

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Speaker 6: It'll likely be a lot of the frames we've come

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Speaker 6: to expect from her over the course of her now

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Speaker 6: four weeks old candidacy, This notion that she is looking

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Speaker 6: toward the future, that she does not want to go

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Speaker 6: back to the past, that she is fighting for freedom,

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Speaker 6: which is one of the themes of the Democratic Convention

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Speaker 6: here in Chicago, whether that be from reproductive rights to

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Speaker 6: the right to vote, and likely a lot of that

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Speaker 6: will push forward on Thursday. I've been worn by many

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Speaker 6: a Democratic strategists not to expect many fine points of

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Speaker 6: policy to emerge in the speech, not going to get

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Speaker 6: very much into details, whether it comes to economic policy

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Speaker 6: or otherwise. I would note, though, before we hear Harris

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Speaker 6: on Thursday, she and her running mate Tim Walls won't

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Speaker 6: even be here in Chicago for the speeches from the

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Speaker 6: Obamas or from the Second Gentleman. Tonight. They're heading to Milwaukee,

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Speaker 6: Wisconsin to the Pfizer Forum where the Republican Convention was

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Speaker 6: held just four weeks ago. So they're taking their campaign

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Speaker 6: to the Swing States even as all the other Democrats

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Speaker 6: are gathered here in Chicago.

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Speaker 2: Kayley, thanks for the brief. See you tomorrow if you

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Speaker 2: can do it again. Kaylee Line, thank us so much.

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Speaker 2: Balance of Power. Look for that on of Bloomberg here

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Speaker 2: near the twelve hour and also five pms to night

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Speaker 2: twelve to two and five pm as well across this nation.

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Speaker 2: This is the most important conversation Bloomberg Surveillance will have today.

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Speaker 2: He has served the nation in the military. And as

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Speaker 2: we lose track and touch of any number of topics,

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Speaker 2: I'll get the one that has to do with domestic politics.

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Speaker 2: But Paul is looking at how he and I have

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Speaker 2: stepped back and lost touch with Ukraine.

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Speaker 1: With McK moulroy.

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Speaker 5: Mcmulroy Tom he's co founder of the Lobo Institute, former

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Speaker 5: Deputy Assistant Secretary of Defense for the Middle East at

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Speaker 5: the US Department of Defense, former Power Military Operations officer

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Speaker 5: at CIA, and former US Marine Infantry officer. And we

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Speaker 5: thank mister maulroy for his service there. Let's start with Ukraine.

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Speaker 5: It seems very noteworthy that Ukraine has launched this incursion

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Speaker 5: into Russia.

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Speaker 1: Tell us what that means for the bigger picture there.

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Speaker 4: Paul as Sons who said, attack where the enemy is

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Speaker 4: not right. So they basically did a really significant intelligence

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Speaker 4: I think analysis of where Russia was weak, and they

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Speaker 4: hit the seams and gaps. I do actually think this

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Speaker 4: is more like a du Lettle raid if you remember that,

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Speaker 4: basically just to kind of like give a psychological punch

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Speaker 4: in that case to Japan, this place to Russia. But

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Speaker 4: they didn't really expect it to go as successful as

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Speaker 4: it was, and then they just capitalized on it. They

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Speaker 4: sent in more troops, they brought in combined air and

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Speaker 4: ground operations, and they'd taken over what one thousand square

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Speaker 4: kilometers now over eighty villages. It's really significant, and it

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Speaker 4: looks like they've decided that they will set up a

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Speaker 4: military headquarters and potentially use it as some kind of

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Speaker 4: bargaining for when the actual discussions start for the end

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Speaker 4: of the war.

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Speaker 1: And when do you think that may be? Because it seems, Mick.

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Speaker 5: That we've been grinding here this almost war of attrition

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Speaker 5: within Ukraine. Now we have this development within Russia. Does

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Speaker 5: that bring the Russians to the table. Do you think

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Speaker 5: that accelerates any potential discussions.

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Speaker 1: I think it could, right.

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Speaker 4: So obviously Russia's taken far more Ukrainian territory, but in

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Speaker 4: the last year now the Ukrainians have taken more Russian territory.

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Speaker 4: Then I mean, yeah, then Russians have taken up Ukraine.

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Speaker 4: So it really is shifting the balance here, and it's

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Speaker 4: really telling Russia that they're not impervious to this war

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Speaker 4: coming home. It's now home and Russians are being relocated

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Speaker 4: because of it. So I think, frankly, when it comes

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Speaker 4: to a war of attrition, Ukraine can't win that they

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Speaker 4: are vastly outnumbered. But what they can do is take

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Speaker 4: bold moves like this and change the calculation of Vladimir

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Speaker 4: pood Mick.

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Speaker 2: I'm bringing this up with great respect for you public service.

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Speaker 2: A kid was in Brighton, mass which was Bulle Collar Boston,

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Speaker 2: and he became an enlisty I believe in the Marines.

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Speaker 2: Got out of the Marines, they threw him into officer

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Speaker 2: candidate school and he ended up being the General of

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Speaker 2: the Marines. John F. Kelly, you served with Madis General

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Speaker 2: Kelly in the last twenty four hours has said what

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Speaker 2: former President Trump said about our Medal of Honor winners.

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Speaker 2: It was basically, I'm editorializing her. Folks, excuse me, reprehensible.

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Speaker 2: Can you please discuss how we can flight something like

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Speaker 2: the Medal of Honor with the Medal of Freedom.

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Speaker 4: Well that's first up. Tom had nothing but the utmost respect,

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Speaker 4: as every American should for General Kelly. He was out

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Speaker 4: enlisted marine in Vietnam and all the way on to

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Speaker 4: a four star general. His service was impeccable. He had

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Speaker 4: two sons that served, one that lost his life in Afghanistan.

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Speaker 4: So that's that's John Kelly. As far as the Medal

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Speaker 4: of Honor, I think it's really important that you know,

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Speaker 4: you have we have different definitions of heroes in society.

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Speaker 4: To me, although I super respect athletes, you know, Olympic athletes,

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Speaker 4: that's not really heroic. Heroic is when you put your

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Speaker 4: life on the line for somebody else and in that realm.

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Speaker 4: You know, we have all sorts of vor awards, but

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Speaker 4: the top of the top is the Medal of Honor,

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Speaker 4: and those are the individuals I think that we should

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Speaker 4: hold on the highest podium, if you will, in the

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Speaker 4: United States, and although the Presidential Medal of Freedom is,

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Speaker 4: you know, a very important award and some important people

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Speaker 4: have gotten it, it is in no way close in

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Speaker 4: my opinion, to the Medal of Honor, and the fact

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Speaker 4: that you have to have given the last measure of

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Speaker 4: devotion in many cases to get the Medal of Honor

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Speaker 4: is something to be applauded and and not something to

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Speaker 4: be degraded.

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Speaker 5: Hey, Mick, while we have you, we need to just

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Speaker 5: get your thoughts on the just coming out of the

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Speaker 5: Middle East. Hamas is out with some I guess the

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Speaker 5: latest reporting from Bloomberg, Hamas is quote keen to reach

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Speaker 5: ceasefield ceasefire deal with Israel and Gaza. Are we anywhere

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Speaker 5: closer to getting some type of ceasefire here?

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Speaker 1: Do you think? Well?

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Speaker 4: I certainly hope so. I mean, this is something that

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Speaker 4: needs to happen both of the humanitarian situation in Gaza,

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Speaker 4: the hostages, eight of which are Americans, to come home,

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Speaker 4: and then to move this into a discussion about the future.

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Speaker 4: The hold up apparently is that they're all talking about

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Speaker 4: the second phase of this proposal, which is where they're disagreeing.

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Speaker 4: I think from the US perspective, they just want to

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Speaker 4: get to the first phase, and when it comes to

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Speaker 4: the Maas, there's some rumors that Sinoar is sick, has

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Speaker 4: some kind of health issues that needs to be treated

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Speaker 4: outside that might push them more toward, quite frankly, a

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Speaker 4: ceasefire agreement, because in my perspective, Moss basically just cares

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Speaker 4: about Hamas, not the people of Gaza. But this is

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Speaker 4: something that I think is in the last stages. The

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Speaker 4: US has been very optimistic many times before, so quite frankly,

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Speaker 4: a lot of the people that follow this don't really

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Speaker 4: pay attention to that. It's really what Hamas is saying

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Speaker 4: and what Israel is saying specifically. And although Israel looks

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Speaker 4: like they've accepted this bridging proposal that was presented by

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Speaker 4: Secretary Blincoln, now it's up to Moss to see if

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Speaker 4: they will. It's been one of those things that they've

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Speaker 4: never missed an opportunity to miss an opportunity, and hopefully

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Speaker 4: that will happen here.

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Speaker 2: Mc morroy, thank you so much for joining us this morning,

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Speaker 2: particularly those comments on the what General Kelly had said

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Speaker 2: about the Medal of Honor mcmorroy serving the Nation, of

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Speaker 2: course and with Lobo Institute, were there newspapers this morning.

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Speaker 2: Lisa Mateo, I.

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Speaker 7: Want to expand about what you guys were talking about

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Speaker 7: before that paramount deal. Editor Broffin Junior. He put in

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Speaker 7: this four point three billion dollar bid for control of Powermount.

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Speaker 8: But a lot of people say, you know, how is

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Speaker 8: this possible?

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Speaker 7: You know with sky Dan's didn't they agree to buy

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Speaker 7: out Cherry Redstone.

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Speaker 8: But it's that forty five deal day go.

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Speaker 7: Shop provision and that's kind of that reason why they're

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Speaker 7: able to do this, Paul, I mean, I guess that's

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Speaker 7: the reason how they're able to just step in when

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Speaker 7: they had an offer before from.

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Speaker 5: Yeah, he's part of a bidding group and Thomas asking

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Speaker 5: about this before. He's part of that bidding group that

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Speaker 5: includes the producer Stephen Paul never heard of him, creator

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Speaker 5: of the Baby Genius movie franchise. And that's according to

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Speaker 5: two people familiar with the matter. So again, mister Broffman,

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Speaker 5: former head of Warner Music Group, Air to the Seagram

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Speaker 5: fortune certainly well well known within the Hollywood circles and

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Speaker 5: you know, high finance.

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Speaker 1: But how credible is this bid? I don't know.

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Speaker 8: Yeah, four point three billion.

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Speaker 7: Powermount actually worth roughly twenty five billion when it was

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Speaker 7: created with that merger Viacom CBS about five years ago.

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Speaker 2: Yeah, somebody in their household's really never seen the whole

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Speaker 2: Milk Gibson AdEx thing. So we're having fun. We watched

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Speaker 2: the original one and last night we watched Mad Max two. Uh.

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Speaker 2: And you know, at the opening of it, Paul, the

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Speaker 2: absolute first opening of it is the image of Paramount's

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Speaker 2: studios in Hollywood. Yeah, the classic photograph of all of

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Speaker 2: the emotion back to our grandparents. Is that worth anything now?

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Speaker 3: Yeah?

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Speaker 1: Absolutely absolutely.

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Speaker 5: The lots in the movie lots in Hollywood are very valuable,

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Speaker 5: extraordinarily valuable, if nothing else for making real estate, both

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Speaker 5: both and so the Fox lot for example, the Warner

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Speaker 5: Brothers lot and the Paramount lot.

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Speaker 2: From the beginning of the Mad Max two.

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Speaker 5: Yep, exactly, So I mean, and those are all very cool.

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Speaker 5: It's prime real estate. It's prime you know, just kind

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Speaker 5: of the stuff you need to just make movies and

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Speaker 5: TV shows.

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Speaker 7: Okay, next, Okay, Tom, I'm not sure if you plan

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Speaker 7: on visiting Yellowstone on your trip to Jackson Hole. But

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Speaker 7: National Parks they have this problem. They have a lot

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Speaker 7: of visitors, like more visitors, but they don't have enough staff.

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Speaker 7: So people going to places like Zion National Park and

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Speaker 7: you tie Yellowstone too, they have longer way times. They're

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Speaker 7: waiting on these long lines for shuttle buses. They don't

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Speaker 7: have enough staff to kind of keep up. So they're

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Speaker 7: doing a few things. They're closing visitor centers, they're closing bathrooms.

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Speaker 7: They're starting to notice that the trails are starting to

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Speaker 7: get more crowded. And this is just becoming a growing

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Speaker 7: problem because people enjoy the parks and they want to

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Speaker 7: get to them, but there's just not enough people to

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Speaker 7: man them. And then the budgets too, are starting to

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Speaker 7: doin the long budget.

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Speaker 2: But mostly it's just a wall of Americans taking advantage

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Speaker 2: of Teddy Roosevelt's vision and it's just what do you do?

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Speaker 2: And one school thought I've seen is you got a limit,

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Speaker 2: you know, you have to passes and limit when you

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Speaker 2: can go, and.

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Speaker 5: I think you can just got to pick your times

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Speaker 5: when other people aren't going, you know, But that's hard.

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Speaker 1: Kids and only have limited windows to go.

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Speaker 2: I mean that was life forming for me. I mean

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Speaker 2: we got in the car and went and my parents

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Speaker 2: thought nothing to driving across the country. Halfway across the country,

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Speaker 2: and there was always a park to go to, but

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Speaker 2: now it's thousands and thousands of people.

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Speaker 5: Yellowstone is my favorite, is it you've been yes on

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Speaker 5: my list? Go to the tent cabins in Yellowstone Valley,

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Speaker 5: so that you're kind of camping out, but it's a

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Speaker 5: cabin like a wooden floor.

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Speaker 8: It was glamping, yes, and it's in the.

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Speaker 1: Tent cabins and the valley floor of Yellowstone.

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Speaker 5: Phenomenal experience kids kind of camping kind so it's like camping.

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Speaker 2: It's like the Hassler in Rome.

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Speaker 1: Yeah, okay, yeah, exactly, I got that right. Okay, kind

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Speaker 1: of camping kind of camping.

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Speaker 8: Yes, clamping, we've done it. Fire Island has glamping.

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Speaker 3: We took on the island. Okay.

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Speaker 7: We've been talking about dating apps, right. The problems are

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Speaker 7: having like bumble right, a lot of less fewer people

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Speaker 7: using them.

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Speaker 8: I gave up my suction see ei there you go.

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Speaker 7: Prime example, The Washington Post says there's new kind of

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Speaker 7: apps that are taking over loneliness apps. I don't know

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Speaker 7: if you want to call it that or maybe friendship apps.

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Speaker 7: So they are apps that people go to if they

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Speaker 7: want to just have the post. I'm telling you you want,

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Speaker 7: you're you're you're working from home, and that's the problem.

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Speaker 8: You don't have friends, you don't see anyone in person.

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Speaker 1: Why a lonely?

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Speaker 8: You're lonely.

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Speaker 7: So you go in an app, like an app called

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Speaker 7: you know, breakfast, it's called the Breakfast. You go on it,

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Speaker 7: you pay a fee, and you find someone who wants

440
00:23:33,440 --> 00:23:35,440
Speaker 7: to sit and have a conversation with you. It could

441
00:23:35,480 --> 00:23:38,280
Speaker 7: be a female looking for a female friend. It could

442
00:23:38,280 --> 00:23:40,560
Speaker 7: be a guy looking for a bro hangout like. It's

443
00:23:40,560 --> 00:23:42,639
Speaker 7: something like that that people feel like they don't have

444
00:23:42,720 --> 00:23:48,440
Speaker 7: anymore because they're lonely. And so these apps the Breakfast, Time, Left, Creative,

445
00:23:48,520 --> 00:23:51,640
Speaker 7: Lunch Club, they're even creating like little gatherings of six

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00:23:51,680 --> 00:23:54,000
Speaker 7: people or more. So they each put their name in

447
00:23:54,080 --> 00:23:55,919
Speaker 7: and they all get selected and they go on this

448
00:23:56,000 --> 00:23:57,680
Speaker 7: you know, I guess you could say date, but it's

449
00:23:57,720 --> 00:23:58,119
Speaker 7: not a date.

450
00:23:58,160 --> 00:24:01,639
Speaker 8: It's just a meetup. And so this is how people

451
00:24:01,720 --> 00:24:03,919
Speaker 8: are doing it. But Bumble is seeing it.

452
00:24:03,960 --> 00:24:06,720
Speaker 7: I mean, they acquired Geneva, that's an app to help

453
00:24:06,920 --> 00:24:09,560
Speaker 7: people meet new friends. So Bumble is starting to see

454
00:24:09,560 --> 00:24:11,840
Speaker 7: that trend too, So they're getting into that. So it's

455
00:24:11,880 --> 00:24:13,200
Speaker 7: not dating, it's not networking.

456
00:24:13,200 --> 00:24:17,680
Speaker 3: It's just friends the breakfast, Paul.

457
00:24:17,920 --> 00:24:22,480
Speaker 2: We learned something every day from meet new people over breakfast,

458
00:24:22,920 --> 00:24:30,040
Speaker 2: not dating. Its not dating or networking, just breakfast.

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00:24:30,080 --> 00:24:34,000
Speaker 5: Just breakfast. Seventeen cities worldwide for the breakfast. All right,

460
00:24:34,680 --> 00:24:36,240
Speaker 5: let's just go into a bar and meet people.

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00:24:37,720 --> 00:24:40,920
Speaker 2: I don't know, Nicole Kidman or somebody or Billy Crystal.

462
00:24:40,960 --> 00:24:46,280
Speaker 2: I think lectures that it's not just breakfast. Thank you, Li,

463
00:24:46,520 --> 00:24:47,320
Speaker 2: I learned something.

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00:24:48,359 --> 00:24:53,800
Speaker 7: Oh one more luxury trends at hotels bunk beds. Bunk

465
00:24:53,840 --> 00:24:57,320
Speaker 7: beds is a new trend luxury hotels like Marriott Moxie

466
00:24:57,760 --> 00:25:01,359
Speaker 7: because consumers are looking for value. Tell's facing higher demands,

467
00:25:01,440 --> 00:25:03,720
Speaker 7: so it's not just coming from the budget travelers, but

468
00:25:03,840 --> 00:25:07,600
Speaker 7: also high end travelers who just want this lux vibe

469
00:25:07,600 --> 00:25:09,760
Speaker 7: without having to book two different rooms, so they have

470
00:25:09,840 --> 00:25:13,120
Speaker 7: everybody all in one space. Hotels can charge a little

471
00:25:13,160 --> 00:25:15,240
Speaker 7: bit more for the rooms too, so it's kind of a.

472
00:25:15,200 --> 00:25:17,280
Speaker 1: Win win th kids in there, I guess, is that

473
00:25:17,280 --> 00:25:17,520
Speaker 1: the thing?

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00:25:17,600 --> 00:25:19,240
Speaker 8: Yeah, but they're fancy bunk bine.

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00:25:19,800 --> 00:25:20,320
Speaker 1: I got it that.

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00:25:20,600 --> 00:25:22,640
Speaker 8: But the problem is that there is pretty cool.

477
00:25:22,640 --> 00:25:24,159
Speaker 1: I'm looking at some of these, they look pretty, they

478
00:25:24,200 --> 00:25:25,040
Speaker 1: are pretty nice.

479
00:25:25,080 --> 00:25:27,639
Speaker 7: Okay, but you know, it's manufacturers can't keep up, so

480
00:25:27,640 --> 00:25:29,760
Speaker 7: now there's a problem getting enough bunk bits.

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00:25:29,640 --> 00:25:30,400
Speaker 1: Getting enough bunk.

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00:25:30,520 --> 00:25:33,600
Speaker 2: Thank you, Lisa Tello, the newspapers today. This is the

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00:25:33,600 --> 00:25:38,600
Speaker 2: Bloomberg Surveillance Podcast, bringing you the best in economics, finance, investment,

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00:25:38,800 --> 00:25:42,399
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00:25:42,640 --> 00:25:46,960
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00:25:47,080 --> 00:25:50,480
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00:25:50,520 --> 00:25:54,560
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Speaker 2: to the podcast on Apple, Spotify, or anywhere else you listen.

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00:25:58,640 --> 00:26:02,320
Speaker 2: And always I'm Bloomberg Radio, the Bloomberg Terminal, and the

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00:26:02,320 --> 00:26:03,840
Speaker 2: Bloomberg Business App.