Speaker 1: Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2: Okay, so missus Keane darkens the door at the new
Speaker 2: Dior store this weekend, and she's feel feeling guilty after unloading.
Speaker 2: They even fetter. She spent so much money. She's feeling guilty,
Speaker 2: So she goes out to snow Milk.
Speaker 1: To buy me some Dan ives merch. It's handbrin of details.
Speaker 2: One of a kind, finishes optimism and individuality. Only a
Speaker 2: few made, no restocks. The biggest size is to excel.
Speaker 2: Dan tell snow Milk they got to get with it.
Speaker 2: We need larger sizes again.
Speaker 3: And there's also there's gonna be a special Keen edition
Speaker 3: of this which still.
Speaker 1: Is a slotted into a five excel tall. Okay, legs
Speaker 1: like to stick champion.
Speaker 2: Okay, reverse, we tell the people snow Milk to get
Speaker 2: their right together, Okay. Jeremy Cohn, Fortune Magazine writes a
Speaker 2: Perplexity mentions Man Deep sing Bloomberg Intelligence. You've been all
Speaker 2: weekend over with gott at the dust start saying that
Speaker 2: Apple's gotta buy Perplexity, Explain why.
Speaker 3: Look, the reality is, if you look at Apple, they're
Speaker 3: missing this f one race that's happening in AI with
Speaker 3: the rest of Big Tach and cook Es centuries on
Speaker 3: a park bench.
Speaker 1: Why is perplexity different.
Speaker 3: Perplexity is ultimately the algorithms, the model, the developers, the
Speaker 3: technology that would give Apple a huge weep to where
Speaker 3: they are today because the reality is better change me
Speaker 3: playing Ryder Cup Beth Baite in September than Apple developing
Speaker 3: AI internally.
Speaker 1: And I'm Jeremy conn is great at this formerly with
Speaker 1: Bloomberg London.
Speaker 2: So Dan, if they buy Perplexity, that only is like
Speaker 2: search tell me, you know, Paul, can you know go in,
Speaker 2: tell me what a.
Speaker 1: Vesper ticket looks like in the New Jersey.
Speaker 2: Sure, then they would bolt on other more video like
Speaker 2: and more GPT like things we.
Speaker 3: And then we view it to two. Parter one is
Speaker 3: the Perplexity deal. In two, despite anti trust and everything
Speaker 3: going on from a regulatory you double down on Google
Speaker 3: in terms of the Gemini partnership.
Speaker 4: I mean that to me, that is the holy timeline.
Speaker 4: I mean, I believe this.
Speaker 3: Has to happen in the next four to six months
Speaker 3: because Tom, the thing, I mean, you've talked, you know,
Speaker 3: we've talked here for Apple for you know, for so
Speaker 3: many years. You have the biggest install based in the world.
Speaker 3: You have one point five billion iPhones. But the reality
Speaker 3: is that this is not gonna happen internally. I think
Speaker 3: that's clear. So our whole point is that the Apple
Speaker 3: it's like, look time, time's ticking. It's time now for
Speaker 3: a company has never done acquisitions to change the narrative,
Speaker 3: and you cannot wait on the treadmill at two point
Speaker 3: five speed.
Speaker 5: This goes to the Tim Cook question, which I didn't
Speaker 5: even know was the thing a question, but I've heard
Speaker 5: it a little.
Speaker 4: Bit more in the last several months.
Speaker 5: Is Tim Cook the right guy to take Apple into
Speaker 5: the AI world?
Speaker 4: Look?
Speaker 3: I believe Tim Cook is the right guy as CEO
Speaker 3: that will take Apple into this next phase of growth,
Speaker 3: But underneath him Cook it's not the right I mean,
Speaker 3: it's clear you need a new blood comany you need
Speaker 3: for a company that's actually lost so much AI talent.
Speaker 3: You need more leadership under him around innovation. Because the
Speaker 3: DNA of Cooper Tino, which has been so massively successful,
Speaker 3: you can't be Rosecard glasses. It has hit a major
Speaker 3: brick wall and it's not gonna happen internally.
Speaker 4: So how does that happen.
Speaker 5: How do you change the mindset of a board of
Speaker 5: a C suite that you need to do something dramatic here,
Speaker 5: maybe a perplexity type deal. How do you think that happens?
Speaker 5: Is it the board that has to drive this?
Speaker 3: I think a year ago they're like no way, nine
Speaker 3: months ago, six months ago when some of the black
Speaker 3: eyes happened on the original AI strategy. I believe now
Speaker 3: that there's a view that they have to do something.
Speaker 2: I want to go back to perplexity. This is a
Speaker 2: kid out of India, grew up really difficult computer science,
Speaker 2: complete India ge get it, ends up at Berkeley with a.
Speaker 1: Bunch of other guys. He was a Google intern et cetera,
Speaker 1: et cetera.
Speaker 2: Put our audience in the seat of aravn srind of
Speaker 2: us at perplexity right now, how does he respond to
Speaker 2: Apple overtures?
Speaker 3: Well, well, look, I mean evaluations right now called eighteen
Speaker 3: nineteen million wow. And the view is okay, could they
Speaker 3: do this themselves? Is essentially a mod Everyone agrees the
Speaker 3: answer is no. So from that perspective, could you partner
Speaker 3: you think about anthropic what they've done with Amazon open
Speaker 3: Ai obviously done it themselves. To me, it's one where
Speaker 3: it's like it's not a time ticking necessarily, but for them,
Speaker 3: they have to do something big. And there's really only
Speaker 3: one company in the world that it would make sense
Speaker 3: for perplexity, and I believe it's Apps.
Speaker 2: Do they become members of the board? Are the a division?
Speaker 2: Did they come in in three years later they're all gone?
Speaker 4: No. I think it's important that that's not.
Speaker 3: They have to almost stay a separate because if they
Speaker 3: get sucked into that Apple Park Cooper team and then
Speaker 3: all of a sudden, that is exactly what could happen.
Speaker 3: I think the biggest thing here is that Apple right
Speaker 3: now is at a point for the first time really
Speaker 3: in the last fifteen years.
Speaker 4: They gotta do something big and look a huge.
Speaker 3: If you overhang lifted last week, tariffs cook point nice
Speaker 3: new sandbox with Trump.
Speaker 4: That's an important move.
Speaker 3: But the elephant in the room, and we've talked about
Speaker 3: for a coming that is a free castle machine. And
Speaker 3: for a company that has never done acquisitions, it's time
Speaker 3: now clock struck midnight.
Speaker 4: They gotta do something, all right. That's the big issue
Speaker 4: in the room. I think.
Speaker 5: Still another big issue is the room is just China
Speaker 5: what's the state of play in China from an end
Speaker 5: market for their products and services as well as just
Speaker 5: part of their global supply chain.
Speaker 3: Look, I think you saw China bounce back last quarter,
Speaker 3: even though subsidies definitely helped there. But Cook recognizes, like,
Speaker 3: this story doesn't go up into the right without China.
Speaker 3: I mean China, it's basically twenty percent of demand. It's
Speaker 3: a huge power of production. Obviously they're they're moving more
Speaker 3: and more to India. But also when you come down
Speaker 3: to the US China trade negotiations, must we talk about
Speaker 3: chips and then fifteen percent and video and AMD and
Speaker 3: Apple is key to the whole thing because they're now
Speaker 3: going to be I think a front row seat out
Speaker 3: of all these negotiations now with Cook no longer on
Speaker 3: the outside looking in when it comes Trump, White House.
Speaker 2: Apple pre pandemic, I mean, no excuse me. At the
Speaker 2: bottom of the pandemic, dan Ives was down to over
Speaker 2: two standard deviations of mediocrity. It's bounced back, it's almost
Speaker 2: back to trend line. What's your target from two twenty nine.
Speaker 3: Two seventy is essential without any AI. So it was like,
Speaker 3: is this a stock that has can still have a
Speaker 3: huge move without a yeah, given iPhone seventeen.
Speaker 1: And that's that's plus one standard devocation.
Speaker 3: That now you talk about they actually do something real
Speaker 3: here and instead of getting on the treadmill. Then that's
Speaker 3: where we're talking three point fifty four hundred.
Speaker 2: How did the others react to apple perplexity?
Speaker 3: That means shot across the bow. Now Apple's in the game.
Speaker 3: They're no longer just sitting there, you know, in the
Speaker 3: right lane going forty five miles an hour.
Speaker 1: Right.
Speaker 3: You look at wartime CEOs, Look at Zuck, look at Musk,
Speaker 3: look in the della, look at Godfather of Ai Jensen
Speaker 3: a video. You cannot be looking at this AI party.
Speaker 3: It's ten pm and it goes to four am from
Speaker 3: the outside looking through the windows. And that's what Apple
Speaker 3: is doing right now.
Speaker 2: After your closed deal? Are you gonna gonna be like
Speaker 2: Emma Redikanu and leverage out your closed deal? As others
Speaker 2: come calling in the luxury goods space?
Speaker 4: Again, never never say never. We've been super pumped.
Speaker 1: About Farrel called from Tiffany's.
Speaker 3: Again, did there. We've had a lot from Lewis. We've
Speaker 3: had We've had a lot of amounts. But again, part
Speaker 3: of why I went with snowmilkse needs to be a
Speaker 3: certain type of designer.
Speaker 4: It's all part of our our brain.
Speaker 1: Would you be comfortable at Lewis Futon with Farrell?
Speaker 3: Again, that's definitely something that could definitely potentially with with
Speaker 3: with some colors. And again it comes down to like keen,
Speaker 3: you put the bow eye on with some colors.
Speaker 4: I mean there's a lot of weeds. We could all
Speaker 4: go with this.
Speaker 1: Yep, there you go.
Speaker 4: That's all you can take.
Speaker 1: Lisa, what do you think they don't make my size
Speaker 1: dan Naives? I think thank you