WEBVTT - Defense Tech Sector Reacts to US-Iran Strike 0:00:04.080 --> 0:00:07.720 Bloomberg Tech is a live from coast to coast with 0:00:07.880 --> 0:00:09.160 Caroline Hide. 0:00:08.840 --> 0:00:11.680 In New York and Eva Low in Sent Francisco. 0:00:14.320 --> 0:00:17.239 This is Bloomberg Tech coming up, Small moves and socks 0:00:17.320 --> 0:00:20.400 this morning as traders I, Iran and Oil will bring 0:00:20.440 --> 0:00:21.560 you the tech sector reaction. 0:00:21.600 --> 0:00:22.959 As Palenteer closes. 0:00:22.640 --> 0:00:26.640 In on a new record high plus investments in defense tech, 0:00:26.680 --> 0:00:29.720 they continue to increase the venture capital story this hour 0:00:30.320 --> 0:00:34.240 and Tesla's Robotaxi it finally hits the streets of Austin 0:00:34.520 --> 0:00:38.000 shares sow we discussed the reality of the company's city expansion. 0:00:38.600 --> 0:00:40.360 Bloomberg's un Verstelica joins us. 0:00:40.400 --> 0:00:43.960 Now I start with Palenteer, which has in encroaching on 0:00:44.000 --> 0:00:46.680 a record high once again. It is the defense tech 0:00:46.760 --> 0:00:48.520 stock that's being played on today. 0:00:49.560 --> 0:00:51.680 Yes, absolutely, thanks for having me on. So it does 0:00:51.720 --> 0:00:54.200 see a lot of demand in interest from sort of 0:00:54.200 --> 0:00:58.240 government contracts, defense adjacent sort of services. So the fact 0:00:58.280 --> 0:01:00.320 that you have this sort of increase in jail political 0:01:00.400 --> 0:01:03.319 uncertainty right now, it's not surprising that Palanteer is one 0:01:03.320 --> 0:01:05.120 of the initial beneficiaries of this. 0:01:05.959 --> 0:01:09.280 Let's look at also what the beneficiaries could be. More broadly, 0:01:09.480 --> 0:01:12.680 I want to highlight a note what came from Wedbush 0:01:12.720 --> 0:01:17.080 analysts this morning, and they're really talking about how maybe 0:01:17.120 --> 0:01:21.160 if we do dial down anxiety surrounding Iran, this could 0:01:21.400 --> 0:01:26.199 end up refueling regalvanizing the AI trade in particular because 0:01:26.200 --> 0:01:29.119 of the Middle East focus. They say, the biggest threat 0:01:29.200 --> 0:01:31.559 to the region and the potential Blackswan event was Iran 0:01:31.600 --> 0:01:33.760 and its nuclear program, and now that threat is gone, 0:01:33.800 --> 0:01:36.759 so basically we can see the AI revolution come more 0:01:36.800 --> 0:01:37.320 into play. 0:01:37.560 --> 0:01:38.800 Which stocks does that affect? 0:01:38.880 --> 0:01:42.039 Ryan, Well, we've seen a number of these AI companies 0:01:42.120 --> 0:01:46.280 like Nvidia announces major sovereign deals with AI and company 0:01:46.400 --> 0:01:48.960 or countries in the Middle East. Excuse me, So if 0:01:48.960 --> 0:01:51.559 we do see some sort of you know, follow through 0:01:51.600 --> 0:01:53.680 on these kinds of deals, these kinds of contracts as 0:01:53.800 --> 0:01:57.360 kind of a region as an area for new unappreciated 0:01:57.360 --> 0:02:00.200 revenue growth, obviously this is something we could continue to 0:02:00.200 --> 0:02:02.560 see being a driver of stock prices from here. 0:02:02.760 --> 0:02:05.520 It's interesting though that NVIDIAs started the day lower and 0:02:05.560 --> 0:02:09.040 it's ultimately would have pulled the benchmark itself in the red. 0:02:09.480 --> 0:02:12.440 Why are we seeing and dialing back in risk aversion? 0:02:12.440 --> 0:02:14.760 Do you think? Well, I think in. 0:02:14.680 --> 0:02:16.400 General, like when you have this kind of rise in 0:02:16.440 --> 0:02:20.200 geopolitical uncertainty, big tech stocks often act as a kind 0:02:20.240 --> 0:02:22.440 of safe haven in the market. I think, kind of 0:02:22.480 --> 0:02:24.639 regardless of what else is going on, this is a 0:02:24.680 --> 0:02:27.760 group that has seen as having pretty durable growth prospects, 0:02:27.800 --> 0:02:32.359 pretty strong and reliable earning streams, tons of cash, very 0:02:32.360 --> 0:02:35.320 strong economic modes and competitive modes, all these things, and 0:02:35.400 --> 0:02:38.320 you kind of put them together in uncertain environment, they 0:02:38.360 --> 0:02:42.160 still look like safe plays, you know, like all things considered. Obviously, 0:02:42.200 --> 0:02:44.920 there are some concerns about valuation, but I think ultimately, 0:02:45.520 --> 0:02:47.600 you know, they sort of act as you know, this 0:02:47.720 --> 0:02:50.480 sort of generation's version of defensive and sort of safe 0:02:50.480 --> 0:02:51.240 haven trades. 0:02:51.840 --> 0:02:54.960 Rand Vlastelica on the market reaction. Thank you so much. 0:02:55.160 --> 0:02:57.799 Let's bring you more analysis on when next in terms 0:02:57.840 --> 0:03:00.320 of the geopolitics. Emily Harding's with us from the Center 0:03:00.360 --> 0:03:03.040 for Strategic and International Studies. You're also the director for 0:03:03.120 --> 0:03:06.520 its Intelligence, National Security, and Technology Program and vice president 0:03:06.560 --> 0:03:09.720 of the Defense and Security Department. Emily, we turned to 0:03:09.760 --> 0:03:12.400 you for your tech and your intelligence expertise here and 0:03:12.440 --> 0:03:14.920 actually you say this is the moment for intelligence officers 0:03:14.919 --> 0:03:15.400 to shine. 0:03:15.480 --> 0:03:19.880 Why so one of the really important questions going forward 0:03:20.000 --> 0:03:22.160 is going to be just how much damage was done 0:03:22.160 --> 0:03:25.600 to Iran's three main nuclear facilities. And I mean it 0:03:25.639 --> 0:03:27.760 seems obvious to say it, but you can't exactly walk 0:03:27.800 --> 0:03:29.760 up to these facilities on the ground and take a look. 0:03:30.040 --> 0:03:32.120 So it's going to be the skill and the work 0:03:32.280 --> 0:03:35.360 of people who do things like geospatial analysis, people who 0:03:35.440 --> 0:03:38.080 collect human intelligence to really do their best work here 0:03:38.120 --> 0:03:40.840 and figure out what was destroyed and what wasn't. And 0:03:40.880 --> 0:03:43.760 why that matters is because if Iran was left with 0:03:43.800 --> 0:03:47.360 an enrichment capability and with a weaponization capability, they could 0:03:47.360 --> 0:03:49.640 try to sprint to a weapon as soon as the 0:03:49.680 --> 0:03:50.720 Israeli campaign is over. 0:03:51.280 --> 0:03:54.600 What's really interesting is I think a military satellite makers, 0:03:55.000 --> 0:03:56.720 in fact, one of them is eyeing an IPO at 0:03:56.720 --> 0:03:59.480 the moment. ICI, can you tell us a little bit 0:03:59.480 --> 0:04:01.640 about the sets that need to be in place for 0:04:01.760 --> 0:04:03.880 us to get the imagery that's necessary here. 0:04:05.200 --> 0:04:07.560 It's a really interesting moment for what we call open 0:04:07.600 --> 0:04:10.040 source intelligence. And that's just another way of saying that 0:04:10.080 --> 0:04:12.200 all of these industry actors that are out there with 0:04:12.240 --> 0:04:16.280 these amazing satellite constellations are doing phenomenal work trying to 0:04:16.880 --> 0:04:19.840 map and identify things that are going on inside ORN. 0:04:19.960 --> 0:04:22.440 So you've got the government's exquisite assets, and we call 0:04:22.480 --> 0:04:25.719 them exquisite because they are the most advanced generally speaking. 0:04:25.960 --> 0:04:28.159 They can do things like loiter over an area to 0:04:28.200 --> 0:04:30.280 actually get continuous coverage of a space. 0:04:30.600 --> 0:04:32.080 But then you have this huge. 0:04:31.800 --> 0:04:34.080 Industry space where all of these actors are coming out 0:04:34.120 --> 0:04:37.320 with really quite good information and a lot of coverage 0:04:37.320 --> 0:04:40.040 that the government can't provide. And the combination of those 0:04:40.040 --> 0:04:42.279 two things is going to give us great insight into 0:04:42.279 --> 0:04:44.560 what's going on on the ground inside Iron and. 0:04:44.480 --> 0:04:45.920 Now the market. 0:04:46.080 --> 0:04:48.760 But most notably, the administration has to play out what 0:04:48.839 --> 0:04:51.320 the best and the worst case scenarios potentially are here. 0:04:51.880 --> 0:04:54.400 What from a defense tech perspective might come into play. 0:04:56.240 --> 0:04:57.880 So they're going to have to think a lot about 0:04:58.120 --> 0:05:01.719 defense stocks. We've talked lot about the defense industrial base 0:05:01.800 --> 0:05:05.040 inside the US and how deep our benches basically on 0:05:05.040 --> 0:05:07.760 some of the key weaponry that we have. Before this 0:05:08.240 --> 0:05:10.120 round of strikes, there was a big debate inside the 0:05:10.120 --> 0:05:13.520 administration about what you needed to preserve for a China contingency, 0:05:13.880 --> 0:05:15.760 what you could send to Ukraine, and what you could 0:05:15.800 --> 0:05:19.080 maintain in the Middle East. This particular operation didn't really 0:05:19.160 --> 0:05:21.080 draw down our stocks much at all. We can pretty 0:05:21.080 --> 0:05:23.920 easily replace what we used. But if you're looking at 0:05:23.960 --> 0:05:26.599 more of a drawn out contingency, if Iran were to 0:05:26.839 --> 0:05:29.920 unwisely retaliate against the US in a really dramatic way, 0:05:30.200 --> 0:05:32.320 and you're looking at much more activity on the ground, 0:05:32.680 --> 0:05:34.360 what you'd want to think about is do you have 0:05:34.400 --> 0:05:37.360 the defense stocks to backfill what you're spending and can 0:05:37.400 --> 0:05:38.160 you do it quickly? 0:05:38.800 --> 0:05:41.919 And we have supply chain analysis from certain companies. 0:05:42.000 --> 0:05:43.520 Yvonne is one of them. For example. 0:05:43.760 --> 0:05:47.440 I'm interested Emily is to which is the forward looking 0:05:47.440 --> 0:05:50.640 analysis for whether we have the manufacturing capability here in 0:05:50.680 --> 0:05:52.919 the United States. That is something that many people have 0:05:52.960 --> 0:05:57.040 debated about bringing that sort of expertise back to the US. 0:05:58.320 --> 0:06:01.039 It is the key question for the next probably ten 0:06:01.120 --> 0:06:04.120 years of deterrence against China. One has to think that 0:06:04.160 --> 0:06:05.880 they looked at what we just did and went, oh, 0:06:05.880 --> 0:06:09.279 the US is serious. However, any kind of modeling that 0:06:09.320 --> 0:06:11.960 we've done of a conflict between US and China, you know, 0:06:12.040 --> 0:06:15.080 if it were unfortunately to happen, shows that we would 0:06:15.160 --> 0:06:18.480 run out of precision weaponry very quickly and have to 0:06:18.520 --> 0:06:22.760 move to backfilling rapidly. With our defense industrial base, and 0:06:22.800 --> 0:06:25.760 that involves not just manufacturing, no how, but also the. 0:06:25.720 --> 0:06:27.320 Ability to scale up very quickly. 0:06:27.800 --> 0:06:29.520 The US likes to think of itself in the sort 0:06:29.520 --> 0:06:31.760 of the World War II context, where we flipped a 0:06:31.760 --> 0:06:33.200 switch and all of a sudden there was all this, 0:06:33.279 --> 0:06:36.960 you know, dramatic growth in American manufacturing of planes and boats. 0:06:37.600 --> 0:06:39.560 I hate to say it, but today's F thirty five 0:06:39.640 --> 0:06:41.839 cannot be made in a Ford factory. You have to 0:06:41.839 --> 0:06:45.160 have much more specific kind of construction, and we really 0:06:45.160 --> 0:06:48.240 need to think about preparing for that contingency, in part 0:06:48.240 --> 0:06:49.360 because we hope it doesn't. 0:06:49.160 --> 0:06:51.479 Happen, but emani actually we've seen that preparation. 0:06:51.600 --> 0:06:54.080 It's inspired the likes of pal Maerlucky, of Tray Stevens 0:06:54.120 --> 0:06:55.760 to go out there and build and drill because they've 0:06:55.760 --> 0:06:59.120 been worried about how quickly we can deploy and manufacture 0:06:59.160 --> 0:07:02.120 here in the United States. Have we seen that industrial 0:07:02.160 --> 0:07:05.240 base thicken enough in recent years for this moment. 0:07:06.279 --> 0:07:09.200 It has thickened, but not enough. You're absolutely right about 0:07:09.200 --> 0:07:11.800 Palmer Lucky. Chris Brose, who also is at ANDREL, is 0:07:11.840 --> 0:07:14.760 one of the foremost proponents of this, talking about how 0:07:14.960 --> 0:07:16.720 we can't just depend on what we have, we have 0:07:16.760 --> 0:07:19.240 to think about how to build I think that andrel 0:07:19.320 --> 0:07:21.680 is leading the way in this pollunteers in a way too, 0:07:22.240 --> 0:07:24.000 but a lot of other sort of you know, bigger 0:07:24.040 --> 0:07:27.200 defense firms need to catch up also. I mean I 0:07:27.240 --> 0:07:29.040 talked to these folks all the time, and what they 0:07:29.080 --> 0:07:31.160 say is that they're not going to make these huge 0:07:31.160 --> 0:07:33.520 capital investments if they don't have a demand signal from 0:07:33.520 --> 0:07:35.600 the US government. So they look at the government and 0:07:35.640 --> 0:07:37.880 they say, where's our demand signal? And the government sort 0:07:37.920 --> 0:07:39.880 of shrugs and says, well, it's either stuck in Congress, 0:07:39.960 --> 0:07:41.840 or it's stuck in the president's budget, or we kids 0:07:41.880 --> 0:07:44.480 can't give it yet. And that kind of chicken egg 0:07:44.560 --> 0:07:46.720 situation is what is keeping us from really building up 0:07:46.720 --> 0:07:47.400 the way we need to. 0:07:47.720 --> 0:07:49.880 So are they getting any more signal at this moment, 0:07:50.080 --> 0:07:52.680 because it feels as though there's trying to be the words, 0:07:52.720 --> 0:07:54.520 but what you're saying is that they need the walk, 0:07:54.640 --> 0:07:55.520 not just the talk. 0:07:55.320 --> 0:07:57.640 At this moment. Absolutely. 0:07:58.080 --> 0:07:59.800 So it's nice to sit in a meeting and here, 0:08:00.200 --> 0:08:02.440 we need to build up our defense industrial base. But 0:08:02.520 --> 0:08:05.560 before you spend millions of dollars on a new facility 0:08:05.640 --> 0:08:08.320 and the environmental studies and recruiting all of the talent 0:08:08.400 --> 0:08:11.360 you need to recruit. What you want is words on paper, 0:08:11.600 --> 0:08:13.480 the contracts or what's really going to have to come. 0:08:14.480 --> 0:08:18.120 Is there enough money financing the startups or at least 0:08:18.120 --> 0:08:20.040 the ecosystem to be able to put it there. Because 0:08:20.080 --> 0:08:22.280 there are innovative ways in which we can finance the 0:08:22.280 --> 0:08:25.280 build out from some of the legacy defense companies, not 0:08:25.400 --> 0:08:27.800 just the bench capital companies that have been there to 0:08:27.840 --> 0:08:30.960 foster the Andrills and Soronis and those sorts of companies. 0:08:32.400 --> 0:08:36.000 Right, So, this year's one trillion dollar defense budget, depending 0:08:36.040 --> 0:08:38.360 on how you measure it, was meant to do some 0:08:38.480 --> 0:08:41.640 of that to really bolster that startup ecosystem. Plus, the 0:08:41.640 --> 0:08:44.559 Defense Department has done some innovative things trying to create 0:08:44.600 --> 0:08:48.240 alternative funding mechanisms for some of these smaller companies. Really, 0:08:48.240 --> 0:08:50.400 what the tension is is that if you're not one 0:08:50.400 --> 0:08:53.080 of the big prime defense contractors, you don't have the 0:08:53.200 --> 0:08:56.600 multitude of lawyers and government affairs officials and people who 0:08:56.600 --> 0:08:59.240 have run through government contracts, you know, five hundred times 0:08:59.679 --> 0:09:02.760 to really help you break through that bureaucracy. So one 0:09:02.760 --> 0:09:04.319 of the things that I think people are really hoping 0:09:04.320 --> 0:09:06.200 to see out of the Trump administration is a new 0:09:06.240 --> 0:09:08.960 way of doing business that is much more welcoming to 0:09:09.040 --> 0:09:11.880 the tech startups and kind of the alternative defense companies, 0:09:12.200 --> 0:09:14.800 things like Sons of and or Realmpalaneer. 0:09:15.640 --> 0:09:18.400 So that's the technology play of which you are key 0:09:18.440 --> 0:09:21.000 with expertise. What about the intelligence side here as well, 0:09:21.040 --> 0:09:23.440 because are we seeing enough innovation there to be able 0:09:23.480 --> 0:09:25.360 to decipher what the next move is for Iran? 0:09:26.640 --> 0:09:27.840 It's never enough innovation. 0:09:28.400 --> 0:09:31.600 So this is really an interesting moment for open source intelligence. 0:09:31.640 --> 0:09:33.640 I grew up in the intelligence community. I grew up 0:09:33.679 --> 0:09:35.800 believing that what we were getting on the classified side 0:09:35.840 --> 0:09:37.480 was going to be far better than what we could 0:09:37.520 --> 0:09:39.680 ever get on the open source side. And for a 0:09:39.720 --> 0:09:43.040 long time that was true. But the space has really changed. 0:09:43.200 --> 0:09:46.440 The amount of open commercially available data that's out there 0:09:46.440 --> 0:09:49.400 in the world really can bolster and change the game 0:09:49.480 --> 0:09:51.800 for intelligence. And there's some companies out there that are 0:09:51.840 --> 0:09:54.440 trying to do that, that are working with AI, that 0:09:54.520 --> 0:09:56.880 are working with huge amounts of data to try to 0:09:57.000 --> 0:10:00.360 pull the signal out of the noise. So a moment 0:10:00.440 --> 0:10:02.319 I think for the intelligence community to sort of be 0:10:02.400 --> 0:10:05.199 open minded. Are there some great leaders inside the IC 0:10:05.559 --> 0:10:07.520 right now who are working on this and working to 0:10:07.559 --> 0:10:10.360 partner with the private sector to make the intelligence that 0:10:10.400 --> 0:10:13.120 we collect on the classified side fit really well with 0:10:13.200 --> 0:10:15.880 that open source intelligence, and the two together is going 0:10:15.920 --> 0:10:17.320 to be much stronger than anything we. 0:10:17.360 --> 0:10:18.000 Had in the past. 0:10:18.120 --> 0:10:20.560 Be open minded on open source, Emily Harding, we love it. 0:10:20.760 --> 0:10:23.440 Thank you from the Center of Strategic and International Studies. 0:10:23.720 --> 0:10:26.560 Stay well. Like another story that we're watching. 0:10:26.320 --> 0:10:29.559 Deep Seek, Well, it's assisting China's military and intelligence officials 0:10:29.720 --> 0:10:33.720 while exploring ways to help Beijing circumvent sanctions and gain 0:10:33.800 --> 0:10:36.600 access to advanced chips. That's all according to a Reuters 0:10:36.679 --> 0:10:40.000 report citing a US State Department official who says that 0:10:40.080 --> 0:10:42.880 Deep Seek was mentioned more than one hundred and fifty 0:10:43.040 --> 0:10:47.320 times in procurement records for the military and defense affiliated entities. 0:10:48.360 --> 0:10:50.800 Coming up, Tesla's long. 0:10:50.640 --> 0:10:53.720 Promised driveris taxi service. It hits the road in Austin. 0:10:54.080 --> 0:10:57.240 We'll discuss the rollout next. This is blueleg Tech. 0:11:06.200 --> 0:11:06.600 Tesla. 0:11:06.800 --> 0:11:09.400 It rolled out its long promise driveral as taxi service 0:11:09.440 --> 0:11:11.959 to a handful of riders on Sunday. It was pretty 0:11:11.960 --> 0:11:15.160 modest debut from what in OMSKS is as a transformative 0:11:15.280 --> 0:11:18.679 new business line joining us now is Regina Klilo, CEO 0:11:18.840 --> 0:11:22.600 and co founder of Populus is, a mobility analytics software company. Regina, 0:11:23.080 --> 0:11:26.840 what do you make of the initial rollout, Well. 0:11:26.679 --> 0:11:28.959 It's very exciting to have another big player in the mix. 0:11:29.360 --> 0:11:31.640 As I'm sure many folks know, Weimo has been active 0:11:31.640 --> 0:11:34.280 in the market for at least twenty months with commercial service, 0:11:34.760 --> 0:11:36.960 and so it's a pretty big development to have Tesla 0:11:37.080 --> 0:11:39.280 now delivering fully autonomous vehicle service. 0:11:39.880 --> 0:11:41.679 Might have been a modest rollout, it's not a modest 0:11:41.679 --> 0:11:43.840 stock move round more than ten percent. There's a lot 0:11:43.840 --> 0:11:46.880 of hopes and prayers based on why this technology takes us. 0:11:46.960 --> 0:11:50.560 In your mind's eye, Regina, how will we see the 0:11:50.640 --> 0:11:53.160 roll out in Austin be picked up by other cities. 0:11:53.240 --> 0:11:55.160 What is pressure is it putting on others in terms 0:11:55.200 --> 0:11:56.400 of their regulatory environment. 0:11:57.720 --> 0:12:01.840 Well, San Francisco has been an operation for over twenty months, 0:12:02.080 --> 0:12:06.640 but Weimo then very quickly began expanding into Los Angeles, Austin, Phoenix, 0:12:07.480 --> 0:12:10.400 Atlanta with partnerships with Uber, and they have Miami and 0:12:10.480 --> 0:12:14.280 Washington coming up next year. And it is putting extreme 0:12:14.280 --> 0:12:16.360 pressure on cities to really catch up and build their 0:12:16.360 --> 0:12:19.040 digital infrastructure. So they can communicate with these vehicles and 0:12:19.080 --> 0:12:22.080 make sure that these rollouts occur safely, because in the 0:12:22.080 --> 0:12:24.240 case of Weymo, they've grown very very quickly in the 0:12:24.280 --> 0:12:25.439 San Francisco market. 0:12:25.200 --> 0:12:28.079 And populous is all about that communication, right, Just tell 0:12:28.160 --> 0:12:30.640 us about what are the learnings, what's the experience. So 0:12:30.720 --> 0:12:33.880 the states and the cities that are watching Austin in 0:12:33.920 --> 0:12:36.640 particular in Texas do this, what do you think then 0:12:36.679 --> 0:12:38.160 they need to learn what is it that Weymo and 0:12:38.200 --> 0:12:40.360 Tesla need to do more efficiently to ensure that streets 0:12:40.360 --> 0:12:42.720 do remain safe well. 0:12:42.840 --> 0:12:46.240 Many cities are building digital infrastructure to begin preparing for 0:12:46.280 --> 0:12:49.440 the future of mobility. We work with cities to help 0:12:49.440 --> 0:12:54.280 them manage shared mobility, so micromobility, shared scooters services like 0:12:54.400 --> 0:12:57.760 Lime and Bird they actually do need to digitally communicate 0:12:57.760 --> 0:13:01.280 with cities, and cities can digitally communicate back. They can 0:13:01.280 --> 0:13:05.360 share parking policies, no rite policies, and these same exact 0:13:05.400 --> 0:13:09.400 policies are really important for services like autonomous vehicles, whether 0:13:09.520 --> 0:13:13.200 or not there are major events occurring or protests, and 0:13:13.280 --> 0:13:16.640 cities need to close roads for emergencies all the way 0:13:16.679 --> 0:13:19.400 to you know, basic planning services like making sure they're 0:13:19.440 --> 0:13:21.040 enough pickup and drop off zones in a city. 0:13:21.840 --> 0:13:25.280 To this point, you talk about Mobility Data Specification MDS. 0:13:25.280 --> 0:13:28.439 This is basically the establishment of open source standard that's 0:13:28.440 --> 0:13:31.640 already in place. How quickly do you think these companies, 0:13:31.679 --> 0:13:33.840 private companies have been willing to adopt this to be 0:13:33.880 --> 0:13:36.480 able to share their data and get the data in return. 0:13:37.840 --> 0:13:41.360 Well, we saw with micromobility the transition happened very very quickly. 0:13:41.440 --> 0:13:44.800 Cities were more prepared after having experienced Uber and Lyft 0:13:45.640 --> 0:13:49.920 in cities to put down some regulations that required mobility 0:13:49.960 --> 0:13:52.000 operators to share data in the case of scooters. So 0:13:52.000 --> 0:13:53.680 it happened within the course of you know, a few 0:13:53.679 --> 0:13:56.880 months to a year. Almost every city in America and 0:13:56.920 --> 0:14:00.120 now around the world requires data from those operators through 0:14:00.160 --> 0:14:04.160 that Mobility Data Specification standard, and standardization makes it easy 0:14:04.240 --> 0:14:07.040 for those large operators to then turn on data feeds 0:14:07.679 --> 0:14:11.160 in cities from Redwood City all the way to New 0:14:11.200 --> 0:14:14.360 York City. And so we delivered data through our platform 0:14:14.480 --> 0:14:19.120 using that data standard and with larger operators like Uber, 0:14:19.240 --> 0:14:22.000 lyftwaimos have a little bit more resistance. But what we've 0:14:22.000 --> 0:14:25.720 seen is that when cities have put down policies that 0:14:26.080 --> 0:14:30.640 require that data sharing. They are often able to get 0:14:30.680 --> 0:14:33.800 operators to comply. Maybe there are some battles here and 0:14:33.840 --> 0:14:37.960 there with states in terms of who's in charge, but 0:14:38.520 --> 0:14:41.320 we've seen cities prevail on that front in terms of 0:14:41.360 --> 0:14:42.880 data sharing and the sharing mobility space. 0:14:42.920 --> 0:14:44.600 So it's kind of their having to deploy the stick 0:14:44.720 --> 0:14:47.280 attitude here rather than the carrot of saying like, here's 0:14:47.280 --> 0:14:48.640 the rules and regulations for you to. 0:14:48.560 --> 0:14:50.480 Ascribe by, but talk us through the carrot. 0:14:50.560 --> 0:14:53.120 Because these companies will glean a lot if they get 0:14:53.120 --> 0:14:54.640 the data back from the city right. 0:14:55.840 --> 0:14:57.440 Well, they'll gain to a couple of things. 0:14:57.520 --> 0:15:00.560 One, they'll be able to operate more efficiently if cities 0:15:00.600 --> 0:15:02.760 are able to then carve off the space that they 0:15:02.800 --> 0:15:06.200 need in order to do really efficient pickups and drop offs. 0:15:06.200 --> 0:15:08.920 We've seen, for example, with a surge of delivery. 0:15:08.880 --> 0:15:11.920 You have ups and FedEx trucks that really don't have 0:15:11.960 --> 0:15:14.160 the space that they need for the volume of delivery 0:15:14.160 --> 0:15:18.040 that we experience in cities, and it's very difficult, I 0:15:18.080 --> 0:15:20.120 believe you know. There are a lot of conversations around 0:15:20.160 --> 0:15:24.360 bureaucracy and how governments can sometimes move slowly. It's really 0:15:24.360 --> 0:15:26.320 important for cities to be able to have data in 0:15:26.400 --> 0:15:28.520 order to facilitate making change more quickly. 0:15:29.240 --> 0:15:31.600 And we've seen when operators share. 0:15:31.520 --> 0:15:34.400 Data with cities, cities are able then to respond much 0:15:34.400 --> 0:15:37.440 more quickly to create the space that they need to 0:15:37.480 --> 0:15:38.680 run efficient services. 0:15:38.800 --> 0:15:41.120 I mean mobility is slowly, slowly, then all at once. 0:15:41.160 --> 0:15:43.000 I mean it's extraordinary to think how we all have 0:15:43.040 --> 0:15:45.920 access to an electric bikeron electric scooter now most cities 0:15:45.920 --> 0:15:47.880 in the way from which we sort of expanded the 0:15:47.920 --> 0:15:50.440 catchment areas. How quickly do you think that adoption will 0:15:50.440 --> 0:15:53.040 be replicated when it comes to actually not having someone 0:15:53.120 --> 0:15:55.720 in the front of the car and steering a vehicle. 0:15:57.440 --> 0:15:59.760 The growth of Weymo in San Francisco has been pretty 0:15:59.760 --> 0:16:03.280 inc ardible. They only launch to their widespread commercial service 0:16:03.320 --> 0:16:06.000 that anyone could sign up for about eighteen months ago, 0:16:06.160 --> 0:16:08.360 and now they have more than twenty seven percent of 0:16:08.400 --> 0:16:08.840 the market. 0:16:09.040 --> 0:16:12.120 So they've already passed Lifts, one of the earlier players 0:16:12.120 --> 0:16:12.640 in the space. 0:16:13.520 --> 0:16:16.480 And so I would anticipate that we'll see similar rapid 0:16:16.520 --> 0:16:20.760 adoption of other av services in other cities because people 0:16:20.960 --> 0:16:23.680 enjoy the service. Some data shows that people are willing 0:16:23.720 --> 0:16:25.880 to pay over twenty dollars an hour for a Weimo 0:16:26.080 --> 0:16:29.640 versus just over fifteen dollars for an uber. So I 0:16:29.720 --> 0:16:32.800 expect we'll see pretty rapid adoption in other major metros 0:16:32.840 --> 0:16:33.360 as well. 0:16:33.240 --> 0:16:35.280 Because we get a humanous price point a full dollars 0:16:35.320 --> 0:16:37.520 twenty coming from you know, Musk company. 0:16:37.760 --> 0:16:39.760 How do things differ with Tesla. 0:16:41.560 --> 0:16:44.280 Well, I think that you know Tesla is catching up 0:16:44.880 --> 0:16:45.600 on that front. 0:16:45.640 --> 0:16:48.560 So they do have a brand that's interesting, and so 0:16:48.600 --> 0:16:53.480 there are definitely people who really enjoy that experience who 0:16:53.520 --> 0:16:56.360 have been I Heard customers for a while, and so 0:16:56.640 --> 0:16:59.480 we'll see how how their rollout is different from Weimo's 0:17:00.400 --> 0:17:01.640 and how quickly they're able to grow. 0:17:02.120 --> 0:17:04.320 It's been great speaking with you, Regina Klilo, Thanks so 0:17:04.440 --> 0:17:07.040 much for your time. The CEO of Populace, It is 0:17:07.080 --> 0:17:08.520 time now for talking tech. 0:17:09.119 --> 0:17:10.919 First up, open ai has. 0:17:10.800 --> 0:17:13.760 Removed details of its deal with former Apple designer Johnny 0:17:13.760 --> 0:17:16.560 Eyes from the web over a trademark dispute. Now, the 0:17:16.600 --> 0:17:18.719 six and a half billion dollar acquisition of I's startup 0:17:18.760 --> 0:17:21.640 called io Products is meant to help the chatchubt make 0:17:21.640 --> 0:17:23.120 a move into AI devices. 0:17:23.280 --> 0:17:25.000 A judge temporarily blocked. 0:17:24.720 --> 0:17:28.120 Open ai from using the io Moniker after a wearable 0:17:28.119 --> 0:17:31.920 audio device maker accused it of trademark infringement plus tech 0:17:31.960 --> 0:17:34.640 investor process where What did a profit for the first time. 0:17:34.880 --> 0:17:37.639 Under its new CEO, the company has acquired businesses including 0:17:37.720 --> 0:17:41.640 online travel firm that Dispago and food delivery business Just Eat, 0:17:42.000 --> 0:17:45.560 with an eye toward building out large e commerce platforms. 0:17:45.840 --> 0:17:49.080 And Chinese tech giant Shaomi will be releasing a host 0:17:49.240 --> 0:17:51.879 of new products and an event later this month. They 0:17:51.920 --> 0:17:55.680 include a tablet powered by self developed O one chip 0:17:55.960 --> 0:17:58.639 and its first suv. Pricing for the new vehicle, the 0:17:58.960 --> 0:18:01.200 Yu seven is also supposed. 0:18:00.800 --> 0:18:01.960 To be released at the event. 0:18:08.119 --> 0:18:10.280 Welcome back to Blue meg Tech and Caroine Hide in 0:18:10.320 --> 0:18:12.520 New York. Let's get your check on these markets because 0:18:12.680 --> 0:18:16.040 the geopolitical anxiety is starting back just a little bit. 0:18:16.320 --> 0:18:19.320 We're still all focused on Israel, Iran and of course 0:18:19.440 --> 0:18:21.880 what occurred over the course of the weekend as US 0:18:21.920 --> 0:18:23.879 struck those three sites in Iran. 0:18:24.080 --> 0:18:24.560 We're seeing that. 0:18:24.600 --> 0:18:26.879 We're bounced back in stocks are up by five tens percent, 0:18:27.200 --> 0:18:29.160 and I want to dig into some of the individual. 0:18:28.760 --> 0:18:29.360 Moves in a moment. 0:18:29.440 --> 0:18:31.560 But Bitcoin as well looking more like a proxy for 0:18:31.880 --> 0:18:34.240 well some stability rather than risk a version. Over the 0:18:34.280 --> 0:18:35.840 course of the weekend, we saw some of the old 0:18:35.920 --> 0:18:39.040 coins perform much worse than Bitcoin renown our one oh 0:18:39.080 --> 0:18:41.639 one thousand level. I'm looking at what's happening for the 0:18:41.720 --> 0:18:44.560 individual names though, and Palo Alto Networks up more than 0:18:44.560 --> 0:18:47.600 a percentage point. I'm looking also at checkpoint why, because 0:18:47.600 --> 0:18:50.920 we're thinking about the cyber implications here after the US 0:18:50.960 --> 0:18:54.120