WEBVTT - Palantir CEO Speaks at AIPCon, Broadcom Earnings Preview, Big Tech Faces EU's New Rules 0:00:01.480 --> 0:00:05.160 From Mahart. We're Innovation of Money and Power Collie in 0:00:05.280 --> 0:00:10.200 Silicon Valley, NBN. This is Bloomberg Technology with Caroline Hyde 0:00:10.240 --> 0:00:11.160 and Ed lud Love. 0:00:25.360 --> 0:00:28.600 I'm Caroline Hyde live from San Francisco, Ed Ludlow, He's 0:00:28.640 --> 0:00:30.680 on location in Palo Alto, and this. 0:00:30.680 --> 0:00:32.559 Is Bloomberg Technology. Coming up. 0:00:32.600 --> 0:00:35.159 We go live to Palanteer headquarters. That's where Ed is 0:00:35.200 --> 0:00:37.479 sitting down with the CEO, Alex Krk to. 0:00:37.520 --> 0:00:39.440 Dive into Guess What AI. 0:00:39.720 --> 0:00:43.200 Their full conversation later this hour, plus we'll push ahead 0:00:43.200 --> 0:00:45.440 to the earnings out after the bell. Broadcom is the 0:00:45.479 --> 0:00:49.280 latest company to test if this AI rally is a 0:00:49.320 --> 0:00:53.160 reality and the EU's Digital Markets Act it takes hold today, 0:00:53.240 --> 0:00:55.600 hitting big tech firms with a list of dos and don'ts. 0:00:55.960 --> 0:00:57.000 We'll break down. 0:00:56.920 --> 0:01:00.440 The epic battles already raging for Apple and so much 0:01:00.440 --> 0:01:03.040 more throughout this hour. But first look at what's happening 0:01:03.040 --> 0:01:04.880 with Apple. They cannot really catch a break. We're still 0:01:04.920 --> 0:01:07.280 lower and that's as we try to dive cell for 0:01:07.680 --> 0:01:10.240 really digest what's happening with the EU and how it's 0:01:10.240 --> 0:01:12.440 going to impact some of these big gatekeepers as their name. 0:01:12.480 --> 0:01:15.120 Let's dive into it they e use Digital Markets Act. 0:01:15.160 --> 0:01:17.880 It is coming into force today, hitting big tech firms 0:01:18.080 --> 0:01:20.319 with a broad list of dos and don'ts, and well, 0:01:20.360 --> 0:01:22.479 really they're going to face some threats of significant finds 0:01:22.480 --> 0:01:23.160 that they don't live. 0:01:23.120 --> 0:01:26.160 Up to the regulation. The aim, of course, to create a. 0:01:26.080 --> 0:01:28.720 More competitive online field and posting changes on these six 0:01:28.760 --> 0:01:31.200 so called gatekeepers. Apple is one of them, but so 0:01:31.319 --> 0:01:36.240 is Amazon, so is Google owner Alphabet, So it's tiptop Pairent, Bike, Dance, Meta, Microsoft. 0:01:36.720 --> 0:01:39.920 Today. Apple already faces questions from the EU, the. 0:01:39.959 --> 0:01:42.880 Regulators over there wanting to know about the accusations that 0:01:43.000 --> 0:01:46.360 is barring Epic Games from opening its own app store 0:01:46.560 --> 0:01:47.960 for iPhone customers in Europe. 0:01:48.000 --> 0:01:50.200 That is what these new rules are meant to be allowing. 0:01:50.720 --> 0:01:54.560 Blue Meg's Mark German has more and the battles still 0:01:54.640 --> 0:01:57.240 rages on Mark. Just give us the inside track of 0:01:57.360 --> 0:02:01.080 why we're seeing Apple not allowed this third party app 0:02:01.120 --> 0:02:02.120 store to come to light. 0:02:03.160 --> 0:02:06.480 Caroline, Apple has a law on its plate right now. 0:02:06.640 --> 0:02:09.960 It's looking for its next big thing today. Like you said, 0:02:09.960 --> 0:02:13.400 the Digital Markets Act is coming into place. There is 0:02:13.560 --> 0:02:16.760 a lawsuit coming from the United States Department of Justice 0:02:17.000 --> 0:02:18.720 before the end of the month. So They're already dealing 0:02:18.720 --> 0:02:23.760 with a lot. This latest bit completely unnecessary reading between 0:02:23.800 --> 0:02:28.160 the lines. Essentially, Apple's app store chief Phil Schiller and 0:02:28.200 --> 0:02:32.320 other people at Apple, perhaps we're upset about Tim Sweeney's 0:02:32.320 --> 0:02:37.720 tweets and response to the DMA rollout. That's Apple's way 0:02:37.720 --> 0:02:41.239 of complying with the new E regulation. Sweeney tweeted that 0:02:41.320 --> 0:02:45.200 Apple's response and their new policies are quote hot garbage. 0:02:45.680 --> 0:02:49.239 He called it malicious compliance. He had a few other 0:02:49.400 --> 0:02:51.480 choice words, or, as Phil Schiller called it in an 0:02:51.520 --> 0:02:55.520 email to him, colorful language. And so Apple decided they're 0:02:55.560 --> 0:02:59.080 going to yank Epic Game's new developer account in the 0:02:59.080 --> 0:03:02.800 European Union in Sweden that would allow Epic Games to 0:03:02.880 --> 0:03:05.560 roll out its own third party at marketplace for the 0:03:05.560 --> 0:03:08.519 iPhone in the twenty seven countries that make up the EU. 0:03:09.120 --> 0:03:12.799 Apple pulls that developer account. Now the EU is asking 0:03:12.840 --> 0:03:16.320 more questions on the launch date for these new rules. 0:03:16.919 --> 0:03:19.519 Not great, and this has the potential for the EU 0:03:19.880 --> 0:03:23.200 to continue to find Apple. Apple I think, in the 0:03:23.240 --> 0:03:25.800 mind of the EU probably doesn't have a great argument 0:03:25.880 --> 0:03:28.760 for why they did this, pulling their account because they 0:03:28.760 --> 0:03:33.120 didn't like their response on Twitter about this. It's not 0:03:33.200 --> 0:03:34.960 a great look for Apple, I would say, and it's 0:03:35.000 --> 0:03:39.120 a little childish on one hand. On the other hand, 0:03:39.360 --> 0:03:41.560 you know, there's the perspective that Apple believes that Epic 0:03:41.560 --> 0:03:43.480 Games is going to break the rules again and they 0:03:43.600 --> 0:03:47.080 to protect their users. So certainly not a great development 0:03:47.080 --> 0:03:47.520 for Apple. 0:03:48.240 --> 0:03:51.600 And we've been hearing the course, Spotify also taking issue 0:03:51.640 --> 0:03:55.000 with some of Apple's ways of working around the DMA 0:03:55.080 --> 0:03:57.080 and feeling that they're still going to be charged an 0:03:57.120 --> 0:03:59.800 untoward amount of money ultimately if you do get more 0:03:59.800 --> 0:04:02.920 than million downloads on your apps. As you say, Apple 0:04:02.960 --> 0:04:06.200 faces so many issues right now. And the key piece 0:04:06.200 --> 0:04:08.200 of reporting, of course, that you brought us last week 0:04:08.360 --> 0:04:11.400 was this almost ten billion dollar effort of a car 0:04:11.520 --> 0:04:15.480 over years of expenses that then they've retracted on. They're 0:04:15.480 --> 0:04:17.680 no longer going to be building the so called Apple car, 0:04:17.720 --> 0:04:20.280 and they're putting the money into general to AI, you've 0:04:20.320 --> 0:04:23.880 got a real deep dive on what really went wrong here. 0:04:24.000 --> 0:04:25.480 Just take us through your big take today, Mark. 0:04:26.240 --> 0:04:28.200 Yeah, I actually think that's why the stock has been 0:04:28.360 --> 0:04:30.839 down lately. Initially you saw the stock jump up when 0:04:30.839 --> 0:04:33.800 Apple pulled out of the car a week or so ago, 0:04:34.040 --> 0:04:36.680 But now I think investors are realizing what's coming next. 0:04:36.920 --> 0:04:39.320 Investors always want to buy into what the future of 0:04:39.360 --> 0:04:42.080 the company is, and that future is not so clear, 0:04:42.120 --> 0:04:44.760 and it's less clear now after pulling out of the 0:04:44.800 --> 0:04:48.560 car project. They had gigantic ambitions to build essentially what 0:04:48.640 --> 0:04:52.279 amounted to a private jet or living room on wheels. 0:04:52.960 --> 0:04:57.680 You had club style seating, recliners, you had footrests, gigantic 0:04:57.720 --> 0:05:00.880 TVs and state of the art audio system the ability 0:05:00.920 --> 0:05:03.800 to watch TV and FaceTime and game from your car 0:05:03.880 --> 0:05:07.159 while it's driving itself. From what I'm told, some of 0:05:07.200 --> 0:05:09.760 the designs of the Apple car were absolutely beautiful. It 0:05:09.800 --> 0:05:13.320 looked like a canoe EV with white wall tires, a 0:05:13.360 --> 0:05:18.120 white exterior, dark black tinted windows that could adjust their 0:05:18.160 --> 0:05:22.000 tint levels, like a Boeming Dreamline or airplane, some state 0:05:22.040 --> 0:05:25.880 of the art autonomy systems. Everything in there was state 0:05:25.920 --> 0:05:27.960 of the art. It looked nothing like you'd ever seen 0:05:27.960 --> 0:05:31.839 on the road before in mass quantities. But there were 0:05:31.960 --> 0:05:35.760 major problems from indecision on what to do, what levels 0:05:35.760 --> 0:05:37.760 of autonomy to go for. From the very top of 0:05:37.800 --> 0:05:41.680 the company. There were issues, of course about the technology 0:05:41.920 --> 0:05:45.599 and when autonomy or full autonomy would be ready. There 0:05:45.640 --> 0:05:51.520 were manufacturing concerns, competitive issues, and of course the real 0:05:51.600 --> 0:05:55.480 nature of the competitive car business and the profitability of 0:05:55.520 --> 0:05:58.440 what a car would bring and the challenges in that business. 0:05:58.480 --> 0:06:01.719 But one thing I'll say, I spoke to someone involved 0:06:01.720 --> 0:06:04.119 in the project yesterday, and you know, they really pushed 0:06:04.160 --> 0:06:07.680 back on that idea of their being profitability concerns, which 0:06:07.720 --> 0:06:11.039 there absolutely were, But this person disagreed with those concerns, saying, 0:06:11.360 --> 0:06:14.039 you know what business is harder than the automotive business, 0:06:14.400 --> 0:06:18.680 the consumer electronics business. And Apple's doing a spine there. 0:06:20.000 --> 0:06:23.240 I said, Mark German, such great reporting. We thank you 0:06:23.320 --> 0:06:25.279 for it. Let's switch gears a little bit now and 0:06:25.320 --> 0:06:27.159 go to where the optimism in the market has been. 0:06:27.279 --> 0:06:30.159 Chip makers, Broadcom earnings. They're coming after the bell today. 0:06:30.240 --> 0:06:32.640 Investors are waiting with bait in breath. I want to 0:06:32.640 --> 0:06:35.159 say if the continue is really going to be there 0:06:35.160 --> 0:06:38.760 for the AI frenzy across hardware, across chip stocks. Most common, 0:06:38.960 --> 0:06:41.280 Ryan Nicky is with us. We're pleased to welcome comment. 0:06:41.880 --> 0:06:43.960 We are anticipating big numbers, are we. 0:06:44.480 --> 0:06:47.560 Yeah, so investors are really looking at these earnings as 0:06:47.600 --> 0:06:50.560 the next gut check for as you said, the chip 0:06:50.560 --> 0:06:53.919 making stocks, the sort of hardware the pigs and shovels, 0:06:53.960 --> 0:06:57.120 if you would call them that, of the AI rally. 0:06:57.120 --> 0:06:59.719 And so what Wall Street is expecting here is for 0:07:00.040 --> 0:07:04.000 Broadcom to report about eleven point eight billion in revenue 0:07:04.000 --> 0:07:06.640 for the quarter, which is a thirty percent jump year 0:07:06.760 --> 0:07:07.360 over year. 0:07:07.760 --> 0:07:09.840 Most of that is from AI. 0:07:10.520 --> 0:07:14.240 And what they're also looking for is that the total 0:07:14.320 --> 0:07:16.840 chip sales, which in the last quarter was about fifteen 0:07:16.840 --> 0:07:19.520 percent of total chip sales, will go to about twenty 0:07:19.560 --> 0:07:22.320 five percent for the total year. So they'll be looking 0:07:22.320 --> 0:07:24.640 at an update on that is their progress. Are we 0:07:24.720 --> 0:07:27.240 moving from that fifteen percent number towards that twenty five 0:07:27.280 --> 0:07:29.880 percent number. The stock is looking really good up into 0:07:29.880 --> 0:07:33.080 the earnings. We're up about three percent today, twenty five 0:07:33.120 --> 0:07:35.800 percent year to date, and fifty percent from its last 0:07:35.800 --> 0:07:36.440 earnings release. 0:07:36.480 --> 0:07:37.520 And this has been huge. 0:07:37.840 --> 0:07:41.440 Broadcom is a little bit of an unsung AI hero, 0:07:41.560 --> 0:07:44.120 I think, because it's the tenth biggest stock in the 0:07:44.200 --> 0:07:46.280 S and P five hundred right now. It doesn't get 0:07:46.280 --> 0:07:49.160 the same shine as the star of the show in video, 0:07:49.520 --> 0:07:52.600 but it is in a similar realm. One thing investors 0:07:52.640 --> 0:07:56.000 are also looking at here is that sort of unlike 0:07:56.000 --> 0:07:58.880 in video or AMD, Broadcom is a little bit less 0:07:58.880 --> 0:08:01.560 of an AI peer place. So though AI is the 0:08:01.840 --> 0:08:04.160 biggest thing that investors will be looking at, there are 0:08:04.200 --> 0:08:06.960 other pieces of the puzzle here. So on one hand, 0:08:07.000 --> 0:08:10.040 some people say that could be really beneficial if AI 0:08:10.200 --> 0:08:12.480 is indeed a bubble, there might be some insulation for 0:08:12.520 --> 0:08:15.120 broadcome investors. But on the flip side, it could kind 0:08:15.120 --> 0:08:17.320 of hold back some of the growth that some of 0:08:17.360 --> 0:08:20.600 the AI names are seeing. So there's a lot that 0:08:20.880 --> 0:08:23.960 investors will be looking at here. If the last release 0:08:24.080 --> 0:08:26.800 was any indication of what's coming on the call and 0:08:26.840 --> 0:08:29.960 the future guidance from CEO Hockey tand is going to 0:08:29.960 --> 0:08:33.679 be really important. Last quarter, we actually shares dip a 0:08:33.720 --> 0:08:36.480 little bit and then go back up when the CEO 0:08:36.600 --> 0:08:38.920 said that AI is going to be a bright spot 0:08:38.920 --> 0:08:39.920 for them going forward. 0:08:41.040 --> 0:08:43.120 Tom and Ronicky will please to say you're going to 0:08:43.200 --> 0:08:45.200 be all across the story when the numbers come out 0:08:45.240 --> 0:08:45.760 after the bill. 0:08:46.120 --> 0:08:47.839 We really appreciate you on the show. Thank you. 0:08:55.800 --> 0:09:00.720 AI is going to create tremendous wealth and value shareholders, 0:09:00.760 --> 0:09:04.439 for stakeholders, for employees of these companies, for the people 0:09:04.559 --> 0:09:07.880 and the businesses that utilize AI. And we can't leave 0:09:07.960 --> 0:09:11.239 behind women in minorities in this value creation moment. 0:09:12.720 --> 0:09:16.839 Salesforce executive Claris she there on just how diverse workforces 0:09:16.920 --> 0:09:20.319 are key to building artificial intelligence models and creating the 0:09:20.400 --> 0:09:22.280 policies in fact, for responsible AI. 0:09:22.640 --> 0:09:24.920 We want to continue that conversation. It's a hot topic. 0:09:25.000 --> 0:09:25.280 We know. 0:09:25.720 --> 0:09:28.440 Narna Sing's with us, founder and CEO of Credo AI 0:09:28.559 --> 0:09:31.960 is a responsible AI governance company which allows businesses to 0:09:32.080 --> 0:09:35.160 ensure that their AI is compliant, transparent, auditable. And my 0:09:35.360 --> 0:09:37.560 perspective would be that your business is just up into 0:09:37.600 --> 0:09:39.720 the right people desperate to get their governance in place. 0:09:39.800 --> 0:09:42.480 Is that really happening, Caroline, Good to see you, you 0:09:42.520 --> 0:09:46.040 know right now. Governance has a very interesting connotation in 0:09:46.080 --> 0:09:48.800 the world of AI. Many see it as actually a 0:09:48.840 --> 0:09:51.720 deterrent to innovation, but that's actually not the right way 0:09:51.720 --> 0:09:54.800 to think about it. We have seen that organizations that 0:09:55.000 --> 0:09:58.000 embed and start doing governance early on in the AI 0:09:58.080 --> 0:09:59.360 journey are the ones who are. 0:09:59.280 --> 0:10:00.520 Actually showing up a inner. 0:10:00.840 --> 0:10:03.120 So I think this is a very interesting interplay between 0:10:03.160 --> 0:10:05.800 governance and innovation, and I think we're going to see 0:10:05.800 --> 0:10:07.120 that drastically changed this year. 0:10:07.520 --> 0:10:09.920 What's interesting is, I mean the headlines keep coming. 0:10:09.960 --> 0:10:13.360 I think in my colleague who's Jackiedavloss writing that there's 0:10:13.400 --> 0:10:15.720 been sort of a whistleblower over at Microsoft at the 0:10:15.720 --> 0:10:19.200 moment coming forward, saying that there are concerns within the 0:10:19.240 --> 0:10:22.240 copilot of image generation with Dali, and they feel that 0:10:22.280 --> 0:10:25.600 there's not enough governance in guardrails in place this safe 0:10:25.760 --> 0:10:27.880 image generation when it comes to these large. 0:10:27.720 --> 0:10:29.800 Language models, and we know what's happened. 0:10:29.520 --> 0:10:33.160 With Gemini where almost to correct one bias, they ended 0:10:33.240 --> 0:10:39.600 up bringing us completely ahistorical images. How could governance have 0:10:40.000 --> 0:10:42.880 perhaps fixed this ahead of time before release? 0:10:43.360 --> 0:10:44.320 Yeah, great question. 0:10:44.440 --> 0:10:47.000 So you know, GENERA and AI by itself is a 0:10:47.120 --> 0:10:50.440 very complex technology. One of the things that I think 0:10:50.480 --> 0:10:53.960 most people don't understand is it's not just a technical problem. 0:10:54.000 --> 0:10:57.079 It's a social technical set of problems that are getting 0:10:57.120 --> 0:11:00.600 introduced in artificial intelligence. So what that rule means is 0:11:00.600 --> 0:11:03.280 how could geminize problems be solved or what we are 0:11:03.280 --> 0:11:07.520 seeing with Microsoft, it actually needs oversight across your organization. 0:11:08.080 --> 0:11:12.600 It needs oversight across your systems, your AI models as 0:11:12.600 --> 0:11:15.280 well as your data sets. But more importantly, it needs 0:11:15.480 --> 0:11:20.240 stakeholder involvement. And that stakeholder involvement really comes from everyone 0:11:20.320 --> 0:11:23.920 in the organization. Your risk and compliance and data science teams, 0:11:24.080 --> 0:11:27.360 but also your users, right, So what are we actually 0:11:27.480 --> 0:11:30.280 providing these A applications for and how these users are 0:11:30.280 --> 0:11:33.959 getting impacted is really critical. And I think that's what's 0:11:34.040 --> 0:11:38.000 really critical for organizations to understand is before putting systems 0:11:38.040 --> 0:11:41.480 out in the market, not only thorough testing an evaluation, 0:11:41.920 --> 0:11:45.080 but making sure the right diverse set of eyes have 0:11:45.160 --> 0:11:47.760 been on those systems to make sure that they're actually 0:11:47.760 --> 0:11:49.360 meeting the end goal is really critical. 0:11:50.080 --> 0:11:51.960 Can you just tow me through it as if I 0:11:52.080 --> 0:11:54.520 was a customer? Yeah, what do you come in and do? 0:11:54.760 --> 0:11:57.120 How do I put this governance in place? 0:11:57.280 --> 0:12:00.040 Yeah? Absolutely? So the key thing. 0:11:59.880 --> 0:12:02.880 Is there are three core pillars of AI governance. First 0:12:02.920 --> 0:12:06.480 and foremost is alignment, Carolyn, As you can imagine, what 0:12:06.520 --> 0:12:10.240 does good look like for your organization really varies organization 0:12:10.320 --> 0:12:13.840 by organization, and that's why alignment on what are you 0:12:13.880 --> 0:12:16.960 going to measure, how often are you going to measure, 0:12:17.240 --> 0:12:19.520 how are you going to report against that alignment is 0:12:19.600 --> 0:12:23.679 really critical. So our software basically helps you with alignment 0:12:23.760 --> 0:12:26.959 as a service as step one. Now, once you've aligned, 0:12:27.000 --> 0:12:29.840 the second step is really critical is what are you testing? 0:12:30.240 --> 0:12:34.400 And as I mentioned, given the sociotechnical nature of artificial intelligence. 0:12:34.720 --> 0:12:38.240 You have to test everything from your technical AI systems. Two, 0:12:38.760 --> 0:12:41.400 how your organization is set up to actually provide that 0:12:41.480 --> 0:12:44.640 oversight and accountability. And then the last thing is how 0:12:44.640 --> 0:12:48.440 do you actually make the outcomes understandable by the diverse stakeholders. 0:12:48.880 --> 0:12:51.600 Not everyone is an AI expert, right, So how do 0:12:51.679 --> 0:12:55.320 you actually create the rist boards, the transparency reports, the 0:12:55.400 --> 0:12:59.560 audit reports so that all these different stakeholders can understand one, 0:12:59.640 --> 0:13:02.520 what are the risk within your system? But more importantly, 0:13:02.600 --> 0:13:05.200 what mitigations are you going to put in place and 0:13:05.240 --> 0:13:07.760 the accountability structures you're going to put in place to 0:13:07.840 --> 0:13:09.079 make sure this AI works for. 0:13:09.040 --> 0:13:12.240 All We've always been here before. 0:13:12.559 --> 0:13:15.640 You look at the eregulation coming in today is a 0:13:15.720 --> 0:13:20.120 highlight that many regulators feel innovation was put before safety 0:13:20.200 --> 0:13:25.120 or indeed level playing fields competition. When you're saying innovation 0:13:25.960 --> 0:13:32.120 is being seen as the offset to guard rails, do 0:13:32.160 --> 0:13:33.640 you think more regulation is. 0:13:33.600 --> 0:13:35.559 Needed to ensure that companies are. 0:13:35.440 --> 0:13:38.240 Using CREATIOAI are bringing in their guard rails. 0:13:38.280 --> 0:13:41.079 At the same time, I would say that more intentional 0:13:41.120 --> 0:13:44.400 regulation is needed. I think more guardrails and enforcement mechanisms 0:13:44.400 --> 0:13:47.079 are needed. So as an example, just think about twenty 0:13:47.120 --> 0:13:51.400 twenty four, two billion people across fifty countries are going 0:13:51.440 --> 0:13:53.880 to be an election and they're going to be voting, 0:13:54.240 --> 0:13:56.240 and majority of that is going to be powered by 0:13:56.360 --> 0:13:57.440 artificial intelligence. 0:13:57.840 --> 0:14:00.720 So when you have artificial law, is that majority going 0:14:00.760 --> 0:14:02.559 to be powered by artificial intelligence. 0:14:02.360 --> 0:14:05.600 Because they are going to get access to information, They're 0:14:05.600 --> 0:14:08.800 going to get access to text media ads which are 0:14:08.840 --> 0:14:11.720 all going to be built around artificial intelligence. And we've 0:14:11.720 --> 0:14:15.000 seen examples of defix already showing up. Right, So the 0:14:15.080 --> 0:14:17.880 key question that we should be asking ourselves is one 0:14:18.120 --> 0:14:20.360 not only what the bills and policies are in place, 0:14:20.400 --> 0:14:22.840 but how are they going to enforce it so that 0:14:23.120 --> 0:14:27.000 a normal, you know, voter, a citizen who's actually going 0:14:27.040 --> 0:14:29.960 and showing up to vote, actually has the right information 0:14:30.040 --> 0:14:33.120 before they make that very important decision for our democracy. 0:14:33.760 --> 0:14:36.640 We've already had an executive voter when it comes to AI. 0:14:37.000 --> 0:14:40.920 You advise the White House on AI. And indeed, I'm 0:14:40.920 --> 0:14:44.160 sure policymaking is government doing enough. 0:14:44.560 --> 0:14:46.560 We're seeing Congress moves swiftly enough. 0:14:47.840 --> 0:14:49.960 I would say this is the first time in the 0:14:50.000 --> 0:14:53.800 past couple of decades we've actually seen government action trying 0:14:53.840 --> 0:14:56.120 to keep pace with technology. But we are in a 0:14:56.200 --> 0:14:59.160 very different era of technology innovation where it is moving 0:14:59.280 --> 0:15:02.840 so fast, and so this is where adaptive policymaking becomes 0:15:02.960 --> 0:15:06.840 really critical. And Executive Order is a fantastic example. There 0:15:06.840 --> 0:15:10.320 were key goalposts that were put in place in Executive Order, 0:15:10.400 --> 0:15:14.520 including OMB guidance. How does federal government procure third party 0:15:14.560 --> 0:15:17.560 commercial AI? What are the safety standards that we need 0:15:17.560 --> 0:15:20.920 to establish? NIST's role in the US Safety Institute. We 0:15:20.960 --> 0:15:23.560 are a proud funding member, but I think there is 0:15:23.840 --> 0:15:27.320 more work needs that needs to happen. For example, Congress 0:15:27.400 --> 0:15:29.520 just passed the budget and this funding was. 0:15:29.520 --> 0:15:30.480 Cut by twelve percent. 0:15:31.040 --> 0:15:34.960 So what does that signal If AI safety and benchmarking 0:15:35.000 --> 0:15:37.680 is critical, I think we need to show investment dollars 0:15:37.680 --> 0:15:40.040 in those initiatives, and that's not happening. 0:15:40.160 --> 0:15:43.080 I'm imagining you're a global company. Yes, what are other 0:15:43.160 --> 0:15:44.680 companies other countries doing? 0:15:45.440 --> 0:15:49.720 Yeah, you know you mentioned Europe EUAI Act goes into 0:15:49.800 --> 0:15:53.000 effect this month, and that is a big step forward 0:15:53.120 --> 0:15:57.440 for a country that is putting European citizens rights first 0:15:57.640 --> 0:16:00.560 through a very risk base approach. The key is going 0:16:00.600 --> 0:16:02.320 to be how is that going to be enforced over 0:16:02.360 --> 0:16:06.520 the next sixteen months where each and every organization, multinational 0:16:06.600 --> 0:16:09.280 organization will have to play by the EU rules. So 0:16:09.400 --> 0:16:12.360 EUAI act is truly going to have that Brussels effect 0:16:12.680 --> 0:16:15.640 that we saw with GDPR, but at a magnitude that 0:16:15.680 --> 0:16:17.560 we can't even imagine. And this is the time that 0:16:17.720 --> 0:16:20.080 organizations need to start getting ready for it. 0:16:20.480 --> 0:16:23.360 Better thought, it are getting in ahead of time. Neverena 0:16:23.400 --> 0:16:25.800 saying we thank you so much for lending us your expertise. 0:16:25.840 --> 0:16:30.600 Today, CEO and founder of Credo Ai coming up. Sk Heinex, 0:16:30.640 --> 0:16:32.880 it's investing more than a billion dollars in South Korea 0:16:32.960 --> 0:16:35.680 this year to expand and improve the final steps in 0:16:35.720 --> 0:16:38.280 its chip manufacturing. We're going to discuss why. That's also 0:16:38.320 --> 0:16:54.200 an hang house story too. This is bringing back technology 0:16:56.560 --> 0:16:59.440 time now for talking tech. Sk Heinex rumming up. It 0:16:59.520 --> 0:17:02.680 spending on advanced chip packaging in hopes to capturing more 0:17:02.680 --> 0:17:05.159 of the burgeoning demand for the crucial component in artificial 0:17:05.200 --> 0:17:08.800 intelligence development, high bandwidth memory. Now, the firm is investing 0:17:08.800 --> 0:17:11.000 more than a billion dollars in South Korea this year 0:17:11.200 --> 0:17:15.040 to expand and improve the final steps of its chip manufacturing. Plus, 0:17:15.119 --> 0:17:18.320 China's Foreign Minister Wang Yi called the level of trade 0:17:18.400 --> 0:17:21.320 curbs that the US is imposed on the country, bewildering 0:17:21.520 --> 0:17:24.680 as his President Biden's efforts to block Beijing from advanced 0:17:24.720 --> 0:17:27.560 tech undermine a steadying of ties between the. 0:17:27.480 --> 0:17:30.920 World's two largest economies. Meanwhile, the US government is. 0:17:30.920 --> 0:17:34.200 Pressing its allies to further tighten those restrictions on China's 0:17:34.240 --> 0:17:35.760 access to semiconductor technology. 0:17:35.840 --> 0:17:37.640 The Byern administration's. 0:17:37.000 --> 0:17:39.880 Latest push, it aims to plug holes and export controls 0:17:39.880 --> 0:17:42.359 that it's levied over the past two years, basically to 0:17:42.400 --> 0:17:47.399 restrain China's progress and developing domestic chip capabilities. Let's just 0:17:47.440 --> 0:17:50.440 stick on well, the tension with US and China right now, 0:17:50.480 --> 0:17:53.439 because today the House Energy and Commerce Committee plans to 0:17:53.480 --> 0:17:57.119 act on legislation introduced by a bipartisan group of House 0:17:57.160 --> 0:18:00.879 members that would give TikTok's Chinese parent Dance just one 0:18:00.960 --> 0:18:03.359 hundred and sixty five days. 0:18:02.640 --> 0:18:04.120 To sell it for more. 0:18:04.320 --> 0:18:08.800 Let's bring in Bloomberg's Dan Flatley and Dan. That of course, 0:18:08.800 --> 0:18:11.920 seems to be where we're seeing the push going get 0:18:12.040 --> 0:18:13.960 rid of the Chinese ownership of TikTok. 0:18:15.520 --> 0:18:18.920 Yeah, you know, we've sort of been here before. It's interesting, 0:18:19.000 --> 0:18:21.119 this is the latest push and it does seem to 0:18:21.119 --> 0:18:23.119 have some momentum behind it in the sense that you know, 0:18:23.160 --> 0:18:25.600 there's a markup today as you mentioned in the House 0:18:25.720 --> 0:18:29.600 Energy and Commerce Committee. There could be potentially some Senate action, 0:18:29.680 --> 0:18:32.400 although we don't have any indication yet as to you know. 0:18:32.320 --> 0:18:33.480 How that chamber will act. 0:18:34.359 --> 0:18:35.600 But you know, this still has to go to the 0:18:35.600 --> 0:18:37.760 House floor, it still has to go to the Senate potentially, 0:18:37.800 --> 0:18:39.760 it still has to go to the President. So we're 0:18:39.760 --> 0:18:43.960 a long way from from actually seeing this happen. And 0:18:44.200 --> 0:18:46.760 you know, the TikTok has been under some form of 0:18:46.840 --> 0:18:50.800 national security review since twenty eighteen, and Trump, when he 0:18:50.880 --> 0:18:53.040 was president, tried to ban it in twenty twenty that 0:18:53.520 --> 0:18:56.440 ended up in the courts, So you know, there's still 0:18:56.480 --> 0:18:58.200 a lot of tape to play out on this, but 0:18:58.800 --> 0:19:01.520 certainly some action plan today in the House. 0:19:03.040 --> 0:19:08.240 Meanwhile, TikTok's response is, well, this is curbing free speech, 0:19:08.400 --> 0:19:10.800 a right to access to such a platform. Do you 0:19:10.840 --> 0:19:12.360 think that their argument carries weight? 0:19:13.560 --> 0:19:13.760 Yeah. 0:19:13.800 --> 0:19:15.679 I think the reason that they're making that argument is 0:19:15.720 --> 0:19:19.280 because the First Amendment challenges are where they're on their 0:19:19.400 --> 0:19:23.720 strongest legal footing. You know, there's broad exceptions and a 0:19:23.720 --> 0:19:26.560 lot of US national security laws for free speech, and 0:19:26.640 --> 0:19:30.280 so obviously that's where they intend to mount their challenge. 0:19:30.440 --> 0:19:32.320 You know, the sponsors of this bill, or at least 0:19:32.359 --> 0:19:34.480 one of them, Mike Gallagher, the chairman of the China 0:19:34.480 --> 0:19:38.040 Committee here in DC, is saying this is not a band. 0:19:38.160 --> 0:19:41.720 This is essentially just trying to excize the Chinese ownership 0:19:41.760 --> 0:19:44.919 of this company. But you know that's in some ways 0:19:44.920 --> 0:19:46.800 not really for him to say. I mean that the 0:19:46.840 --> 0:19:49.679 courts will have their say on this at some point. 0:19:50.240 --> 0:19:52.200 Certainly he has his argument to make, and he's making 0:19:52.240 --> 0:19:52.640 it right. 0:19:52.560 --> 0:19:56.159 Now down fatly brilliant that you bring us up to 0:19:56.200 --> 0:20:06.639 speed with illegal ramifications. We thank you so much. Welcome 0:20:06.640 --> 0:20:09.120 back to New Meg Technology. I'm Caroline Hyde right here 0:20:09.160 --> 0:20:12.960 in San Francisco. Now it's twenty twenty three. Venture deal 0:20:13.000 --> 0:20:15.639 making declined, you know that across the board for a 0:20:15.640 --> 0:20:16.560 second con sective year. 0:20:16.600 --> 0:20:17.680 It's pretty ugly out there. 0:20:17.840 --> 0:20:21.320 Female founders, of course, they were impacted, but interestingly they 0:20:21.440 --> 0:20:24.840 still manage to secure a record share of total deal 0:20:24.920 --> 0:20:27.919 value as according to the latter's report in Female Founders in. 0:20:27.920 --> 0:20:29.240 The VC ecosystem. 0:20:29.280 --> 0:20:31.399 It's all put together by Pitchbook and they put the 0:20:31.480 --> 0:20:34.359 data out today. Let's dig in with Amriy Donaghan just 0:20:34.400 --> 0:20:38.480 the analyst behind this research. Oh, twenty eight percent doesn't 0:20:38.520 --> 0:20:40.840 look too bad. But can you put that into actual numbers? 0:20:40.880 --> 0:20:41.480 What sort of. 0:20:41.400 --> 0:20:44.080 Money is being raised by female founders? Yeah, that's right. 0:20:44.080 --> 0:20:46.240 We're looking at a population of companies that have grown 0:20:46.520 --> 0:20:50.200 significantly over the past decade, raising tens of billions of 0:20:50.280 --> 0:20:53.200 dollars collectively. But then when you can textualize that, look 0:20:53.200 --> 0:20:55.280 at the amount of funding for companies that have no 0:20:55.520 --> 0:20:59.240 women representation on the founding teams. You're seeing companies pull 0:20:59.280 --> 0:21:00.320 in one hundreds. 0:21:00.040 --> 0:21:00.919 Of billions of dollars. 0:21:00.920 --> 0:21:03.280 So quite a bit of a difference there, but definitely 0:21:03.359 --> 0:21:06.200 seeing some resilience among those companies in twenty twenty three, 0:21:06.280 --> 0:21:09.440 as broader activity has come down, those companies are hanging 0:21:09.440 --> 0:21:10.560 onto their share of the total. 0:21:11.160 --> 0:21:13.920 Okay, So is there a number for that total? 0:21:15.320 --> 0:21:18.480 Tens of billions in the network of thirty billion about okay, 0:21:18.480 --> 0:21:20.239 So if we look at thirty billion, why is that 0:21:20.320 --> 0:21:21.120 number heading up? 0:21:21.200 --> 0:21:24.399 Is that because there's more just share a scale of 0:21:24.520 --> 0:21:28.200 numbers of individual founders and individual companies coming for money, 0:21:28.400 --> 0:21:30.280 or is it that the companies are starting to get 0:21:30.560 --> 0:21:34.200 such a size that they're able to raise a decent clip. 0:21:34.400 --> 0:21:37.720 Yeah, so we're seeing fewer companies engaging because the conditions 0:21:37.720 --> 0:21:40.080 are so difficult. So it's not a matter of the 0:21:40.119 --> 0:21:43.200 individual company numbers, it's more about the quality of those companies. 0:21:43.240 --> 0:21:46.320 So standards are getting higher for investors. They're getting more 0:21:46.880 --> 0:21:49.720 discerning with the amount of capital that they deployed to 0:21:49.760 --> 0:21:53.800 certain companies. So we're seeing larger best position companies hang 0:21:53.880 --> 0:21:55.679 on to that share, and when we look at female 0:21:55.680 --> 0:21:59.040 founded companies, we see the proportion rise, and that's indicating 0:21:59.080 --> 0:22:01.480 that those companies are already at such a high standard 0:22:01.560 --> 0:22:04.159 that they're able to pull in additional capital and have 0:22:04.280 --> 0:22:06.000 some resiliency on the downside there. 0:22:06.160 --> 0:22:08.000 So I think some of the unicorns that were inked 0:22:08.320 --> 0:22:10.280 very early in twenty twenty three that was sort of 0:22:10.840 --> 0:22:13.960 maven for example, a healthcare company run like Kate Ryder 0:22:14.040 --> 0:22:17.640 able to raise money. Is there a sector that does well? 0:22:17.880 --> 0:22:20.960 I mean, I think of healthcare being a key area 0:22:21.080 --> 0:22:23.640 of focus for female founders, or is this like more 0:22:23.680 --> 0:22:26.119 broad Are we seeing the AI revolution being driven by 0:22:26.119 --> 0:22:26.600 women too? 0:22:26.720 --> 0:22:28.800 Of course, it would not be a conversation about VC 0:22:28.920 --> 0:22:31.560 these days without mentioning AI. A lot of women really 0:22:31.600 --> 0:22:35.000 at the forefront of that. Companies like Anthropics, SCALEAI creator 0:22:35.000 --> 0:22:38.119 who we heard from earlier, really involved in this movement 0:22:38.160 --> 0:22:39.720 for sure. We're seeing that's pretty much one of the 0:22:39.760 --> 0:22:42.680 only verticals in twenty twenty three that managed to pull 0:22:42.680 --> 0:22:45.200 in more capital than the year prior. So most other 0:22:45.240 --> 0:22:48.439 sectors seeing a decline across the broader VC space, but 0:22:48.840 --> 0:22:51.880 seeing some resiliency in healthcare, like you mentioned climate tech 0:22:51.920 --> 0:22:54.280 as well, some areas that have been able to hang 0:22:54.320 --> 0:22:55.680 on to that value. 0:22:55.840 --> 0:22:58.560 It's interesting that you bring up Anthropic. We had done 0:22:58.600 --> 0:23:00.600 in on the show just earlier. But she is a 0:23:00.640 --> 0:23:03.520 co founder. Are you looking at numbers that they are 0:23:03.800 --> 0:23:06.440 within the founding team diverse there is at least one 0:23:06.520 --> 0:23:08.800 female founder, or is it more that they have to 0:23:08.800 --> 0:23:10.480 solely be lit by women. 0:23:10.720 --> 0:23:12.440 We look at both the main methodology. 0:23:12.440 --> 0:23:15.000 We're looking at companies that have at least one female founder, 0:23:15.040 --> 0:23:17.320 so they may have a male co founder, they may not. 0:23:17.920 --> 0:23:20.359 We also look at a smaller section of that total, 0:23:20.400 --> 0:23:23.520 which is just those companies with only women founders. That 0:23:23.560 --> 0:23:26.920 population much smaller, if only pulling in about a single 0:23:26.920 --> 0:23:28.600 digit percentage of the total dollars. 0:23:29.240 --> 0:23:30.960 What about the people that they're sat on the other 0:23:31.000 --> 0:23:32.560 side of the table to who are. 0:23:32.440 --> 0:23:33.520 They going to for money? 0:23:33.560 --> 0:23:36.280 Are they more diverse vcs that are tending to write 0:23:36.320 --> 0:23:37.360 the checks right? 0:23:37.400 --> 0:23:39.520 Well, that's a big part of the equation. You know, 0:23:39.560 --> 0:23:41.600 when you have founders that are looking to enter the 0:23:41.680 --> 0:23:43.920 space and break in, you need an investor that really 0:23:44.200 --> 0:23:47.480 can see the value of that founder and the company itself. 0:23:47.880 --> 0:23:50.119 So big part of the equation there when we look at. 0:23:49.960 --> 0:23:53.080 The breakdown of gender check writers at BC firms, So 0:23:53.400 --> 0:23:55.560 these are the people that ultimately determine whether or not 0:23:55.600 --> 0:23:58.320 a company gets funded. We're looking at another area that's 0:23:58.359 --> 0:24:01.760 heavily male dominated, about seventeen percent of checkerators or women 0:24:01.800 --> 0:24:04.159 in the US. So in most cases you're going to 0:24:04.160 --> 0:24:06.720 have a situation where as a female founder, you're pitching 0:24:06.720 --> 0:24:10.560 to mostly men investors. So there are definitely some implications 0:24:10.560 --> 0:24:11.119 there as well. 0:24:11.440 --> 0:24:13.720 It's a great report, thanks for bringing it to us, 0:24:13.840 --> 0:24:16.560 Amriy Donagan. Just of course a pitch book a research 0:24:16.640 --> 0:24:20.840 analyst there. Next up we talk that AI flavor with Palenteer. 0:24:20.840 --> 0:24:32.480 This is Blue med Technology. 0:24:37.400 --> 0:24:37.919 Welcome back to. 0:24:37.880 --> 0:24:40.320 Bluem Med Technology and Caroline Hide and San Francisco and 0:24:40.840 --> 0:24:43.480 well we have got to get down to Palo Alto. 0:24:43.600 --> 0:24:47.280 There's a big conversation being had around AI and Ed Ludlow. 0:24:47.320 --> 0:24:49.200 You're sat there, how has it been going? 0:24:51.880 --> 0:24:54.800 Well, We're at aip COM where the focus for Palenteer 0:24:55.000 --> 0:24:58.600 is its commercial customers, but frankly, the near term catalyst 0:24:58.680 --> 0:25:02.080 in this stock has been the contracts win around Titan. 0:25:02.520 --> 0:25:05.119 I did sit down for an extended conversation with Alex 0:25:05.160 --> 0:25:08.600 carp the palente CEO, where quite clearly he is showing 0:25:08.680 --> 0:25:12.679 progress on going to a wider commercial customer base, but 0:25:12.760 --> 0:25:15.560 also frustration about how business is done in this country. 0:25:15.840 --> 0:25:16.479 Have listened. 0:25:18.800 --> 0:25:22.800 I'm very exquisitely happy about how well we're doing, both 0:25:22.840 --> 0:25:26.199 in the government and commercially. But the most important change 0:25:26.240 --> 0:25:28.120 in the US government has nothing to do with pound here. 0:25:28.359 --> 0:25:31.280 When we got to we started building this company, the 0:25:31.359 --> 0:25:35.280 idea that software would power intelligence were fighting general health 0:25:35.280 --> 0:25:40.199 issues was viewed as something esoteric, scandalous, obviously questionable. The 0:25:40.240 --> 0:25:44.520 idea that America's primary advantage, premier advantage would be software 0:25:44.840 --> 0:25:49.240 was viewed as also esoteric, academic, self serving, and every 0:25:49.240 --> 0:25:52.720 institution in America and especially depending on have begun to 0:25:52.760 --> 0:25:56.600 come to terms with the idea. The reality that hardware 0:25:57.000 --> 0:26:01.880 driven systems purely are going inferior to software driven hardware systems. 0:26:02.080 --> 0:26:05.160 And beyond that, our adversaries are as good or better 0:26:05.160 --> 0:26:08.800 at building hardware systems and have a deficit in building software. 0:26:08.880 --> 0:26:12.000 What is different about Titan as compared to say, Maven, 0:26:12.480 --> 0:26:16.280 is that you are entering new relationships with other hardware providers, 0:26:16.359 --> 0:26:20.159 right like Anderil is one example. Explain how that is 0:26:20.240 --> 0:26:21.280 working in this case. 0:26:21.440 --> 0:26:25.320 Actually, I see this as a commonality. America needs to 0:26:25.480 --> 0:26:30.560 establish dominance on the battlefield. Maven. What's publicly known about 0:26:30.560 --> 0:26:33.800 Mavin is one of these projects that actually took what 0:26:33.880 --> 0:26:37.040 America is the best at in the world software and 0:26:37.119 --> 0:26:39.280 put it in the hands of our warfighter. By the way, 0:26:39.480 --> 0:26:42.240 at enormous costs. You're sitting in pal Alto. I had 0:26:42.240 --> 0:26:46.520 people protesting here, hundreds, putting up change in front of 0:26:46.560 --> 0:26:50.040 our office, calling us Nazis because we were dedicated to 0:26:50.119 --> 0:26:52.920 serving the American people, because we had the sense God 0:26:52.960 --> 0:26:54.679 gave a goat and we realized that if you're going 0:26:54.720 --> 0:26:57.160 to do really important things in this country, you should 0:26:57.200 --> 0:27:00.560 defend this country with every asset we have. What really 0:27:00.600 --> 0:27:03.800 happened on the Silicon Valley side is that you've got 0:27:03.880 --> 0:27:06.000 because of that success, because of the power of it, 0:27:06.040 --> 0:27:09.239 and quite frankly, because of our success, people realize this 0:27:09.280 --> 0:27:12.000 is a place where you should invest and make America 0:27:12.040 --> 0:27:14.840 even stronger. And then what happened is you've got a 0:27:14.880 --> 0:27:19.600 whole ecosystem of defense startups and an ecosystem of people 0:27:19.600 --> 0:27:22.439 inside the Pentagon who are ready to embrace that that 0:27:22.480 --> 0:27:25.359 are doing things, by the way, that are very similar 0:27:25.359 --> 0:27:27.200 to what's happening in the commercial space. And what are 0:27:27.240 --> 0:27:29.600 those things. We're going to look at software, not off 0:27:29.640 --> 0:27:31.480 power points. We're going to look at We're going to 0:27:31.480 --> 0:27:34.479 buy software from people have actually sold software commercially. And 0:27:34.520 --> 0:27:37.960 what's unique about Titan is not the difference. It's that 0:27:38.240 --> 0:27:40.960 it's the logical extension. And what is that logical extension? 0:27:41.320 --> 0:27:43.840 People who've built software products that have been used on 0:27:43.840 --> 0:27:47.359 the battlefield and used commercially. You have to ask yourself 0:27:47.400 --> 0:27:50.280 a question. If your software is so good, why have 0:27:50.359 --> 0:27:53.080 you not sold it commercially and made yourself billions of dollars. 0:27:53.280 --> 0:27:56.960 So that simple insight, which you see in the battlefield 0:27:57.000 --> 0:27:59.600 in Ukraine, which you see in Israel, is something that 0:27:59.800 --> 0:28:04.479 is hard for institutions to internalize. The Pentagon. This step 0:28:04.560 --> 0:28:06.679 is one of the most historic steps ever because what 0:28:06.760 --> 0:28:09.600 it basically says is we're going to fight for real. 0:28:09.800 --> 0:28:11.800 We're going to put the best on the battlefield. And 0:28:11.840 --> 0:28:13.399 what is the best. The best is not just some 0:28:13.760 --> 0:28:17.760 not one company. It's a team of people led by 0:28:18.040 --> 0:28:21.760 the most prominent software provider in defense in the world, talented. 0:28:21.800 --> 0:28:24.680 If there's something you said there that inside the Pentsagon 0:28:24.760 --> 0:28:28.040 people are ready for this. Bloomberg did some quite deep 0:28:28.080 --> 0:28:32.240 reporting on the use of Maven specifically in twenty twenty 0:28:32.280 --> 0:28:35.840 four so far, and the complaint from operators in the 0:28:35.880 --> 0:28:39.080 context that it's used for targeting is that it's still 0:28:39.120 --> 0:28:42.200 not quite there. It's still this is I'm just offering 0:28:42.200 --> 0:28:43.640 you an opportunity to respond to it. 0:28:43.640 --> 0:28:43.760 Now. 0:28:43.800 --> 0:28:45.680 I'm not going to respond because I'd have to tell 0:28:45.680 --> 0:28:48.400 you all sorts of things. There is no one. By 0:28:48.440 --> 0:28:50.680 the way, there was a long and very important article. 0:28:50.680 --> 0:28:52.800 Everyone should read it. What the way I read the 0:28:52.880 --> 0:28:55.360 article was, this is the most important thing, one of 0:28:55.400 --> 0:28:57.800 the most important things the Pentagon has done in decades. 0:28:58.280 --> 0:29:00.640 I can tell you the way our adversaries ma even 0:29:00.920 --> 0:29:03.800 and our friends is like, what the f how do 0:29:03.960 --> 0:29:06.120 they actually produce this? And I tell you what the 0:29:06.160 --> 0:29:10.120 average citizen read O recurs like, thank God, we're spending 0:29:10.120 --> 0:29:12.560 the money on things that are more valuable than what 0:29:12.640 --> 0:29:15.600 we're investing in. And to go into more detail, if 0:29:15.600 --> 0:29:18.360 to go to all sorts of classiz, that program is 0:29:18.400 --> 0:29:20.560 one of the shining stars of what this country has 0:29:20.600 --> 0:29:24.040 done and serves as a template for we're going on 0:29:24.080 --> 0:29:26.680 the offense. We are going to shirve dominance, and we're 0:29:26.680 --> 0:29:28.240 going to negotiate after we're the best. 0:29:28.600 --> 0:29:30.720 Alex I host the Technology Show, and I want to 0:29:30.760 --> 0:29:34.680 talk about the technology, its current capabilities, and where it 0:29:34.680 --> 0:29:39.480 can go. Is that platform ready to move from assisting 0:29:39.520 --> 0:29:44.680 in targeting, which is intelligence basically, to giving more information. 0:29:44.800 --> 0:29:48.200 The artic will also look to the idea that there 0:29:48.280 --> 0:29:50.720 is a hope from intelligence services in the US government 0:29:50.760 --> 0:29:53.600 that it can be one day in a position to 0:29:53.640 --> 0:29:58.680 recommend which weapon to use to give more tactical. 0:29:58.440 --> 0:30:00.360 Let me give you, let me give you commercial examples. 0:30:00.360 --> 0:30:02.800 Because I can't I can't go into I can't go 0:30:02.880 --> 0:30:04.360 into what it can do and what I can't do. 0:30:04.400 --> 0:30:06.600 I can tell you what we're doing commercially. Right now, 0:30:06.680 --> 0:30:10.480 you are going to see a normal non engineer sitting 0:30:10.680 --> 0:30:16.600 at their terminal tasking satellites, exporting a logic inside the 0:30:16.680 --> 0:30:21.080 security model of the company to figure out which satellite 0:30:21.080 --> 0:30:25.080 should be over which part of their agricultural assets, and 0:30:25.120 --> 0:30:28.240 what should happen based on weather conditions. Now you can 0:30:28.400 --> 0:30:31.280 just imagine how you could do that with a weapon system. 0:30:31.320 --> 0:30:36.120 This is exactly what palach your commercial not Palenteer highly 0:30:36.160 --> 0:30:40.520 classified environment, Palenteer with somebody that has been hired five 0:30:40.600 --> 0:30:44.080 days ago, that can't write code, that's very smart, may 0:30:44.120 --> 0:30:46.760 not speak English, and as just enter the enterprise is 0:30:46.800 --> 0:30:50.120 doing that workflow that is happening right now, and that 0:30:50.280 --> 0:30:54.880 is why the thing that this revolution which is highly confusing. 0:30:54.920 --> 0:30:58.320 It's highly confusing. Yeah, it's confusing because a lot of 0:30:58.320 --> 0:31:01.000 the stuff is BS. Then there's the poetry side of it. 0:31:01.080 --> 0:31:03.680 I love poetry. If I could go read more poetry, 0:31:03.720 --> 0:31:07.360 I would. Enterprises don't need more poth Yes, you mean, well, 0:31:07.400 --> 0:31:10.320 it's like I don't know somebody's delivers PowerPoint. We're gonna 0:31:10.360 --> 0:31:12.880 give you a you know. It's like, look, everybody has 0:31:12.920 --> 0:31:14.560 to try to sell something. If you don't have something 0:31:14.560 --> 0:31:17.440 to sell, you sell words. Right now, so you're selling 0:31:17.520 --> 0:31:19.760 something that doesn't work. Can't work. You're explaining to your 0:31:19.840 --> 0:31:22.120 enterprise you can't have the car you want, which is 0:31:22.160 --> 0:31:24.160 honestly pound here. But you can have the car you 0:31:24.160 --> 0:31:26.360 don't want because this and this and this and this, 0:31:26.400 --> 0:31:26.760 and you have. 0:31:26.720 --> 0:31:27.000 To buy it. 0:31:27.040 --> 0:31:29.400 And that's that's by the way, that that is a 0:31:29.440 --> 0:31:32.480 plague on many societies, less so America. There is this 0:31:32.560 --> 0:31:35.960 problem in Europe that there's really no high end software venders. 0:31:36.200 --> 0:31:38.120 Luckily our adversaries have this problem. 0:31:38.200 --> 0:31:41.160 And you've spoken about your frustrations with Europe not being 0:31:41.320 --> 0:31:42.760 more adopted. 0:31:42.960 --> 0:31:44.960 Well, I'm pro I spent half my life in Europe. 0:31:45.000 --> 0:31:47.760 I want the West to win, so I want. But 0:31:47.800 --> 0:31:50.400 it's a confusing revolution. If you're sitting there and you're 0:31:50.440 --> 0:31:53.800 sitting in society that's lead industrial evolutions for hundreds of years, 0:31:53.880 --> 0:31:56.080 and all of a sudden, the industrial evolution is happening 0:31:56.120 --> 0:31:59.080 basically in one place, and that's right here. That's confusing. 0:31:59.280 --> 0:32:02.160 It's confusing because three vendors are saying they're going to 0:32:02.160 --> 0:32:04.400 offer the same thing. One thing is like, you know, 0:32:04.480 --> 0:32:06.040 I'm going to explain to you why it doesn't work 0:32:06.080 --> 0:32:08.160 you have to buy or bs thing. The others like, oh, 0:32:08.160 --> 0:32:10.320 it does work, but it's only poetry. And then there's 0:32:10.360 --> 0:32:13.400 a third category, which judges by the fruits we provide, 0:32:13.400 --> 0:32:15.600 which is exactly what we're doing, which is like, great, 0:32:15.680 --> 0:32:18.040 We're not going to argue about this part of our product. 0:32:18.040 --> 0:32:19.720 That part of our product. I'm happy to explain it 0:32:19.720 --> 0:32:21.880 to somebody who's technical. We're going to show you what 0:32:22.040 --> 0:32:25.640 happens in four to six hours as opposed to what 0:32:25.680 --> 0:32:28.600 happened in your whole enterprise over the last two years. 0:32:28.640 --> 0:32:31.040 We will talk about the commercial business, we will talk 0:32:31.080 --> 0:32:33.160 about bootcoms, but let me just say. 0:32:33.080 --> 0:32:34.480 I know we can talk about whatever you want. 0:32:35.280 --> 0:32:38.560 A final point, you talked about the confusion of the revolution. Okay, 0:32:39.200 --> 0:32:43.120 Today probably will be the first time that a president 0:32:43.440 --> 0:32:47.400 says artificial intelligence in a State of the Union speech. 0:32:47.760 --> 0:32:50.160 So it's a very simple question, what is your summary 0:32:50.640 --> 0:32:55.200 of this administration's leadership so to speak of the US 0:32:55.240 --> 0:32:56.240 in the context of AI. 0:32:57.160 --> 0:32:59.680 You know, it's very helpful if you spend a lot 0:32:59.680 --> 0:33:02.400 of time abroad, because like, if you look at this internally, 0:33:02.520 --> 0:33:05.320 like internally in America, there's a long list of criticisms 0:33:05.520 --> 0:33:09.200 that you could make of anyone. This country is the 0:33:09.280 --> 0:33:12.760 dominant country with no second country in the world. So 0:33:12.960 --> 0:33:16.840 whatever we're doing, it's working out pretty damn well. So 0:33:16.880 --> 0:33:19.160 it's like, you know, yeah, could we be better, could 0:33:19.160 --> 0:33:21.520 we have better regulation, could we understand these things better? 0:33:21.600 --> 0:33:25.280 But again, we are dealing with a revolution. That's one 0:33:25.320 --> 0:33:28.040 of the really confusing things again for Americans is like, 0:33:28.320 --> 0:33:31.440 normally you have a revolution and multiple countries are participating. 0:33:31.600 --> 0:33:34.280 This is a revolution where the technology is pretty being 0:33:34.280 --> 0:33:36.520 produced in America, mostly in Silicon Valle. 0:33:36.680 --> 0:33:39.160 You do have multiple customers. To just bear with me 0:33:39.240 --> 0:33:41.880 on this one. Take for example, Israel, where you are 0:33:41.880 --> 0:33:46.480 doing some work with that country. The administration as an example, 0:33:46.600 --> 0:33:49.240 is pushing for a ceasefire in that region, but you 0:33:49.320 --> 0:33:52.400 are working with Israel. How do you manage that? Because 0:33:52.400 --> 0:33:55.920 it sounds like your first priority is the United States? 0:33:57.440 --> 0:34:00.240 How do we manage Look, we I'm very happy, very 0:34:00.240 --> 0:34:04.200 happily supply our products to our allies, including Israel. I 0:34:04.240 --> 0:34:07.920 don't like Israel. What's going on here is does America 0:34:07.960 --> 0:34:10.040 provide Israel with more aid? I don't think there's any 0:34:10.120 --> 0:34:12.160 question of does Israel have the right to buy the 0:34:12.160 --> 0:34:15.960 world's best technologies, assess them, and implement them. Israel, I 0:34:15.960 --> 0:34:19.000 think has decided we have some of the world's best technologies. 0:34:19.280 --> 0:34:22.799 They've implemented many of them and publicly discussed some of them, 0:34:23.080 --> 0:34:26.920 and I will palent here. I think the really orthogonal 0:34:26.960 --> 0:34:29.000 may be more question was why do we say in 0:34:29.080 --> 0:34:32.920 public what everyone else believes in private? We should defend 0:34:32.960 --> 0:34:35.680 the West, we should not apologize for fighting terrorism, and 0:34:35.719 --> 0:34:38.080 we are going to provide our sharp tools to our allies. 0:34:38.520 --> 0:34:39.960 Let's talk about the commercial business. 0:34:40.040 --> 0:34:43.359 Okay, you told my colleague Lazett Chapman one month ago, 0:34:43.400 --> 0:34:46.680 almost of the day quote, we don't know what to 0:34:46.719 --> 0:34:49.680 do with the onslaught of demand in the commercial context. 0:34:49.680 --> 0:34:52.080 Do you know one month on what to do now? 0:34:52.600 --> 0:34:52.680 No? 0:34:53.080 --> 0:34:54.920 I mean, if you're going to see a boot camp 0:34:55.120 --> 0:34:57.480 here a series of things we've had to you know, 0:34:57.520 --> 0:34:59.439 we haven't been able to meet demand. We've had to 0:34:59.480 --> 0:35:03.120 tell people we couldn't accommodate them. We have hundreds of 0:35:03.160 --> 0:35:05.920 people coming, not just people but leaders of industry. And 0:35:06.040 --> 0:35:08.320 if you just look at it from the internal dynamics 0:35:08.320 --> 0:35:10.320 of how do you deal with the contracting, how do 0:35:10.360 --> 0:35:13.080 you deal with the implementation, It's true these things have 0:35:13.160 --> 0:35:15.520 gone from taking us three months to four hours. 0:35:16.040 --> 0:35:18.200 But it's also true, but the idea is you cram 0:35:18.320 --> 0:35:20.480 four months work worth of work into the day in 0:35:20.520 --> 0:35:21.320 these boot camps. 0:35:21.360 --> 0:35:25.000 Right, It is not even a day. It's hours and 0:35:25.040 --> 0:35:25.920 so and so. 0:35:26.040 --> 0:35:29.799 Why why is that importance, Palenteer, Why did you go 0:35:29.920 --> 0:35:30.720 down that route? 0:35:30.800 --> 0:35:33.319 Well, the most important reason it's important to palent here 0:35:33.440 --> 0:35:35.960 is we can fight with people about power points and 0:35:36.000 --> 0:35:37.520 their ability to do Why. 0:35:37.480 --> 0:35:39.719 Do you keep bringing up powerpoints? Is the point you're 0:35:39.760 --> 0:35:42.640 making that your competitors go in with a debt. Absolutely, 0:35:42.680 --> 0:35:44.640 this is what we'll do. But they don't have a product. 0:35:45.840 --> 0:35:48.080 Well, I'm not saying anything. What I'm really saying is 0:35:48.120 --> 0:35:49.719 if you have it, what did you said, power co 0:35:49.840 --> 0:35:52.360 It's many times exactly. So what I'm telling to everyone 0:35:52.400 --> 0:35:55.640 there is like they may have a product, we're showing 0:35:55.680 --> 0:35:57.960 you our product. Okay, I can't comment about where they 0:35:57.960 --> 0:36:00.520 have a product. I can't tell you they're bare buttoned 0:36:00.600 --> 0:36:03.560 up and not showing any leg We show our product. 0:36:03.840 --> 0:36:06.040 And why is it important? Yes, why it's important. I'm 0:36:06.040 --> 0:36:08.640 telling you why it's important because a people fight us, 0:36:08.840 --> 0:36:11.160 or fight enterprises that are doing the most important work 0:36:11.360 --> 0:36:14.480 with slick power points and great steak dinners. We're bad 0:36:14.520 --> 0:36:16.760 at slick power points or even worse at steak dinners. 0:36:17.040 --> 0:36:19.440 We don't play golf. What we do do is we 0:36:19.480 --> 0:36:23.040 play software. We will put if you want to actually compete, 0:36:23.239 --> 0:36:26.919 compete on your product and what's very special? And yes, 0:36:26.960 --> 0:36:29.880 do I enjoy humiliating people who have better steak dinners 0:36:29.920 --> 0:36:32.239 and sharp ourn eyes and better at golf? So yes, 0:36:32.280 --> 0:36:34.440 I do you know what, I really I really like 0:36:34.520 --> 0:36:36.480 that we win in that way. It makes me very happy, 0:36:36.560 --> 0:36:39.319 and it makes our clients happy because let me sorry, 0:36:39.400 --> 0:36:40.040 let me finish. 0:36:39.840 --> 0:36:42.840 Saying, but we're getting closed great well the people. 0:36:43.080 --> 0:36:46.959 And why are our clients happy Because American industry knows 0:36:46.960 --> 0:36:49.560 that this is a structural advantage and that needs the 0:36:49.600 --> 0:36:52.920 best products. And why is the boot camp overrun? Because 0:36:53.080 --> 0:36:55.880 the clients themselves are tired of these damn steak dinners 0:36:56.040 --> 0:36:58.919 and the golf. They want to see products that actually work, 0:36:59.120 --> 0:37:01.200 that actually live up to what people are saying. What 0:37:01.640 --> 0:37:04.440 are people saying? You will transform your enterprise. You'll make 0:37:04.480 --> 0:37:06.640 it cheaper to run your enterprise, that you'll make it 0:37:06.680 --> 0:37:08.959 safer to run the enterprise. You'll be able to track 0:37:09.000 --> 0:37:11.400 what you're doing, and you'll be able to uplift workers 0:37:11.440 --> 0:37:13.920 who formerly only could be engineers, and now they can 0:37:14.000 --> 0:37:16.200 be everywhere. And by the way, you can do all 0:37:16.280 --> 0:37:19.080 this in America. You can manufacture like you or manufacturing 0:37:19.160 --> 0:37:22.279 Japan and Taiwan. In America, you can use workers that 0:37:22.440 --> 0:37:25.000 used to have to be engineers right here in this country. 0:37:25.280 --> 0:37:27.959 And why is it? It's also fun for Poundier because 0:37:28.000 --> 0:37:30.560 we are winning, Alex, I've got to ask you before 0:37:30.560 --> 0:37:31.240 I lose you. 0:37:31.520 --> 0:37:34.480 Actually, the most common question that I get to ask 0:37:34.520 --> 0:37:37.080 you from the audience I post on social media coming 0:37:37.120 --> 0:37:40.759 on is when will there be a direct to consumer 0:37:41.320 --> 0:37:44.360 or a I don't even know what we would call it, 0:37:44.080 --> 0:37:48.359 but a publicly available version of AIP And if that would, let. 0:37:48.280 --> 0:37:48.839 Me tell you. 0:37:48.880 --> 0:37:51.240 Because they see you as a leader in the space 0:37:51.440 --> 0:37:55.480 the Palenteer, not necessarily you as an individual whatever. 0:37:55.520 --> 0:37:59.719 They see this happy But okay, look, Palier, you are 0:37:59.760 --> 0:38:02.000 seeing the tip of the iceberg when you are buying 0:38:02.000 --> 0:38:04.120 our product. Now we've been working on these things. 0:38:04.120 --> 0:38:06.279 You can't buy it if you're a person off the street. 0:38:06.760 --> 0:38:08.600 You are seeing the tip of the iceberg of our 0:38:08.600 --> 0:38:11.200 product development. And we are going to show more and 0:38:11.239 --> 0:38:13.520 more and more of what we have and I think people, 0:38:13.680 --> 0:38:15.239 and I would also like a lot of those people 0:38:15.320 --> 0:38:17.359 asking the question, by the way, are non academic. They 0:38:17.360 --> 0:38:20.439 are investors in Palenteer and they have supported us when 0:38:20.440 --> 0:38:22.080 we were down on the ropes, and those are the 0:38:22.120 --> 0:38:23.239 people that we are fighting for. 0:38:24.239 --> 0:38:28.400 Anyone else thinking about steak Dinners right now? Talenteer CEO 0:38:28.440 --> 0:38:32.560 co founder Alex Kupp what an interview ed Ludlowe. 0:38:32.800 --> 0:38:34.560 Great work. Meanwhile, look, we've. 0:38:34.440 --> 0:38:37.160 Got to pivot and think about AI and ultimately getting 0:38:37.200 --> 0:38:40.960 into the hands of customers right more, How are people. 0:38:40.760 --> 0:38:41.759 Using generative AI? 0:38:42.120 --> 0:38:45.560 Amazon Web Services has just launched a new GENI competency 0:38:45.600 --> 0:38:49.279 program for partners, aiming to basically help customers figure out 0:38:49.440 --> 0:38:52.320 which partner to use, what product to be actually using 0:38:52.400 --> 0:38:56.719 within their business and have generative AI suit them and 0:38:56.800 --> 0:38:58.080 not just something that they aspire to. 0:38:58.200 --> 0:38:59.919 For more about this program and what it means. 0:39:00.080 --> 0:39:03.200 It's launch partners including the likes of Accentiakahir, Moga, dB, 0:39:03.440 --> 0:39:05.880 Hugging Face, and Video to name but a few, us 0:39:05.920 --> 0:39:10.000 bringing Amazon Web Services Vice President Worldwide Channels and Alliances 0:39:10.280 --> 0:39:10.920 Rubert Borno. 0:39:11.360 --> 0:39:12.680 Rubert I love. 0:39:12.560 --> 0:39:16.080 This focus basically on the fat that you're saying. 0:39:15.840 --> 0:39:18.480 This can't be an aspiration. People are going to be able. 0:39:18.280 --> 0:39:21.200 To use it practically in their businesses. How are they 0:39:21.320 --> 0:39:24.680 using aws and the offerings of large language models. 0:39:24.719 --> 0:39:26.480 You have to change their businesses. 0:39:27.760 --> 0:39:30.040 Caroline First of all, thank you so much for having 0:39:30.040 --> 0:39:32.640 me today. I'm really excited to be coming to you 0:39:32.719 --> 0:39:35.920 live from Seattle, where we're hosting two hundred of a 0:39:36.200 --> 0:39:41.160 WUS's most strategic partners, and we've launched just this week, 0:39:41.320 --> 0:39:44.640 the Generative AI Competency for our partners that you mentioned. 0:39:44.880 --> 0:39:47.880 I'm so excited that we have over forty five launch 0:39:47.960 --> 0:39:51.439 partners and they're doing exactly what you talked about, which 0:39:51.480 --> 0:39:56.280 is demonstrating technical expertise and generative AI technologies. We're talking 0:39:56.280 --> 0:40:00.480 about technologies like Amazon Bedrock, Amazon Stagemaker, and joh Start 0:40:00.480 --> 0:40:01.200 in Amazon Q. 0:40:01.800 --> 0:40:02.920 And why is that important? 0:40:03.280 --> 0:40:08.279 Because these partners have demonstrated not only experience and knowledge 0:40:08.280 --> 0:40:13.120 of those technologies, but customer success, customer success with multiple 0:40:13.200 --> 0:40:17.400 production ready use cases. So we're excited to showcase that 0:40:17.440 --> 0:40:20.960 to customers because customers right now are thinking, I've heard 0:40:21.000 --> 0:40:24.360 about generator AI. I know it can transform my business, 0:40:24.560 --> 0:40:26.239 but who can I work with and what are the 0:40:26.280 --> 0:40:27.640 right use cases I can use? 0:40:29.200 --> 0:40:32.760 Give us some standouts where we're already seeing use cases. 0:40:32.880 --> 0:40:37.760 How are people using Claud Threethropic's latest set of models 0:40:37.840 --> 0:40:39.640 within their business to change things? 0:40:40.920 --> 0:40:43.600 So the Anthropic Claud three announcement that we made this 0:40:43.640 --> 0:40:47.319 week is really exciting. Claude Three's Opus model is the 0:40:47.320 --> 0:40:50.759 most intelligent model on the market today and it runs 0:40:50.800 --> 0:40:55.320 on AWS Trainium and Inferentia, giving it the best price performance. 0:40:55.560 --> 0:40:58.799 But why is this interesting? What it allows customers to do. 0:40:59.000 --> 0:41:02.480 Customers like crowd Strike, which is a leading cybersecurity customer 0:41:02.600 --> 0:41:05.759 also an AWS partner, they use it to power their 0:41:05.760 --> 0:41:09.840 own generative AI capabilities and they're able to then handle 0:41:09.920 --> 0:41:13.879 things like large prompts and provide scale and safety. That's 0:41:13.920 --> 0:41:18.080 something really critical to how AWS views generative AI. And 0:41:18.120 --> 0:41:20.520 I'll give you a couple of other examples. One of 0:41:20.600 --> 0:41:24.720 our competency launch partner's Mission Cloud worked with a company 0:41:24.760 --> 0:41:28.200 called Magell and TV and this company has a large 0:41:28.239 --> 0:41:32.240 library of documentaries that they make accessible to a global audience, 0:41:32.600 --> 0:41:34.680 and what they wanted to do was to enable that 0:41:34.840 --> 0:41:39.200 audience to achieve to be able to watch those documentaries 0:41:39.280 --> 0:41:44.480 in every language. Both have transcribed the translations and also 0:41:44.680 --> 0:41:48.320 foreign language dubbing. Now that's a really tough problem because 0:41:48.320 --> 0:41:50.680 you've got to have an address slang, you've got to 0:41:50.719 --> 0:41:54.240 address profanity, you've got to address inflections for the voice dubbing. 0:41:54.520 --> 0:41:57.400 It was cost prohibitive to do the old way, it 0:41:57.400 --> 0:42:00.960 costs about twenty dollars per minute. With AI, they were 0:42:01.000 --> 0:42:03.240 able to reduce that down to less than a dollar 0:42:03.280 --> 0:42:05.959 per minute. That allowed Magel and TV to now reach 0:42:06.160 --> 0:42:10.520 a global audience nearly instantly with that technology. 0:42:10.560 --> 0:42:12.759 But I love that tangible example. 0:42:13.120 --> 0:42:15.000 What is also at the forefront of people's minds, and 0:42:15.000 --> 0:42:17.520 we've only got a minute left, is safety. How do 0:42:17.560 --> 0:42:21.120 you ensure that the offerings you're providing through bedrock aren't 0:42:21.360 --> 0:42:23.480 going to be making things up, but also more broadly 0:42:23.560 --> 0:42:24.959 have ethical implications. 0:42:26.120 --> 0:42:29.040 It's a great question, and responsible AI is core to 0:42:29.239 --> 0:42:34.200 every service from AWS. We have been designing security integrated 0:42:34.239 --> 0:42:36.960 into the products from the beginning, and it is more 0:42:36.960 --> 0:42:39.520 important with generative AI than it has ever been before. 0:42:39.880 --> 0:42:43.959 We've heard customers and partners state concerns about generative AI. 0:42:44.360 --> 0:42:47.440 Customers have the ability to aggregate data and insights from 0:42:47.480 --> 0:42:50.799 different sources, and so that's why we designed security in 0:42:50.840 --> 0:42:53.319 from the get go, to make sure there are guardrails 0:42:53.520 --> 0:42:56.160 so that individuals who should have access to the data 0:42:56.400 --> 0:43:00.640 think financial data and other proprietary information have access to it, 0:43:00.680 --> 0:43:02.960 and those that shouldn't can still make use of the 0:43:03.000 --> 0:43:06.320 general of AI tools, but have those guardrails based on 0:43:06.400 --> 0:43:09.200 the data they're allowed to have access to. So providing 0:43:09.320 --> 0:43:12.960 policy and governance to ensure that enterprises are able to 0:43:12.960 --> 0:43:15.600 protect their information. I think this is critical for every 0:43:15.719 --> 0:43:18.799 enterprise to think through and it's going to be the 0:43:18.840 --> 0:43:21.080 way that we're able to ensure that gener of AI 0:43:21.160 --> 0:43:22.520 is adopted in mass. 0:43:23.800 --> 0:43:26.239 Ruber great to have time speaking with you on the 0:43:26.320 --> 0:43:29.120 day that you're announcing this, of course, RUBERBORNO of Amazon 0:43:29.160 --> 0:43:32.239 Web Services, we appreciate it. Meanwhile, that does it for 0:43:32.280 --> 0:43:34.840 this addition of bloom bag technology. Do not forget to 0:43:34.920 --> 0:43:36.800 check out our podcast. You want to go and listen 0:43:36.800 --> 0:43:42.400 back to that Alex Karp conversation. This is bloombag technology.