WEBVTT - Navigating Tariffs, US-Russia Relations, Atlassian's F1 Partnership 0:00:02.520 --> 0:00:10.280 Bloomberg Audio Studios, Podcasts, radio news. This is Bloomberg Business 0:00:10.280 --> 0:00:13.440 Week Insight from the reporters and editors that bring you 0:00:13.480 --> 0:00:18.400 America's most trusted business magazine, plus global business, finance and 0:00:18.480 --> 0:00:22.880 tech news. The Bloomberg Business Week Podcast with Carol Masser 0:00:23.079 --> 0:00:25.880 and Tim Stenebeck on Bloomberg Radio. 0:00:26.520 --> 0:00:28.360 All right, we want to shift gears because one of 0:00:28.440 --> 0:00:29.400 the things that has been. 0:00:29.800 --> 0:00:32.800 You said, shift gears so helpful. I like that. We're 0:00:32.800 --> 0:00:34.440 gonna explain why that makes sense. 0:00:34.680 --> 0:00:38.800 So helpful is touching base with CEOs around the globe 0:00:38.800 --> 0:00:41.479 with everything that's going on. At Lastian, it's the more 0:00:41.520 --> 0:00:45.959 than eighty billion dollar market cap enterprise software company behind 0:00:46.159 --> 0:00:48.800 a Gyra, Confluence, Trello, and more. The company is more 0:00:48.840 --> 0:00:51.479 than three hundred thousand customers around the World's got a 0:00:51.479 --> 0:00:55.520 great view when it comes to tech spending among businesses 0:00:55.560 --> 0:00:58.440 both big and small. Company was founded co founded by 0:00:58.480 --> 0:01:02.840 Mike cannon Brooks. He's also CEO the billionaire Invested Renewable Energy. 0:01:03.200 --> 0:01:07.080 He also works to combat climate change, and he's joining 0:01:07.120 --> 0:01:09.160 us right now to talk about a lot of what 0:01:09.240 --> 0:01:11.320 is going on, as well as some news that he 0:01:11.400 --> 0:01:13.680 had this week in the world of f one Racing Mike. 0:01:13.760 --> 0:01:15.760 First of all, forgive there's a lot coming at us 0:01:15.840 --> 0:01:17.840 right now, but we are so grateful to have you. 0:01:18.720 --> 0:01:20.440 We want to get to the F one news, but 0:01:20.480 --> 0:01:23.160 we also want to ask you about the macro environment. 0:01:24.520 --> 0:01:27.440 How do you kind of figure out what to focus 0:01:27.480 --> 0:01:30.720 on what not when things are coming certainly geopolitically, we 0:01:30.760 --> 0:01:33.800 are talking a lot about tariffs and a terra for essentially, 0:01:34.640 --> 0:01:36.280 how do you take it all in and how do 0:01:36.319 --> 0:01:40.000 you assess today's business environment globally? 0:01:42.360 --> 0:01:44.680 Sure, guys, thank you, thank you very much for having me. 0:01:46.480 --> 0:01:49.000 Look, there's no doubt it's a busy world at the 0:01:49.000 --> 0:01:53.640 moment and there's a lot going on. My strategy has 0:01:53.680 --> 0:01:56.400 been almost ridiculously simple most of the time, which is 0:01:57.160 --> 0:02:00.400 just to work out what the business needs. Normally, the 0:02:00.440 --> 0:02:02.040 best way you can figure out what we should spend 0:02:02.080 --> 0:02:03.760 our time on in a given day is to look 0:02:03.800 --> 0:02:07.320 at your customers and go talk to them right any 0:02:08.000 --> 0:02:11.960 and that doesn't mean it's simple. They are facing lots 0:02:12.000 --> 0:02:14.440 of different global effects in parts of the world, and 0:02:14.560 --> 0:02:16.600 so you know, we if we work out how we 0:02:16.600 --> 0:02:20.160 can help them, that usually is our simplest way to 0:02:21.480 --> 0:02:24.799 gain some focus in an otherwise highly confusing world when there's. 0:02:24.639 --> 0:02:25.280 A lot going on. 0:02:25.400 --> 0:02:27.160 To what extent, though, do you have to increase your 0:02:27.240 --> 0:02:30.520 value to them because their margins get squeezed as the 0:02:30.560 --> 0:02:33.799 result of tariffs, as the result of a potential trade war. 0:02:34.000 --> 0:02:35.560 What do you have to do to prove to them 0:02:35.600 --> 0:02:36.960 that you're worth spending money on. 0:02:39.040 --> 0:02:39.239 Sure? 0:02:39.240 --> 0:02:42.920 Look at last Even's products are all about collaboration and 0:02:43.000 --> 0:02:46.160 efficiency for companies, right we help teams of people. 0:02:46.680 --> 0:02:49.040 Our mission is to unleash the potential of every. 0:02:48.760 --> 0:02:53.400 Team, has been for decades, and our job is to 0:02:53.440 --> 0:02:55.640 make sure that we explain to customers how our software 0:02:55.639 --> 0:02:58.960 can do that and have those customers adopt the software. 0:02:59.000 --> 0:03:02.160 Whether they're running project, whether they're looking at their strategic. 0:03:01.680 --> 0:03:05.280 Plans, whether they're building technology, whatever it is that they're doing. 0:03:05.800 --> 0:03:08.400 We help them make their technology teams work better with 0:03:08.400 --> 0:03:11.840 their business teams. And we have always been an incredibly 0:03:12.320 --> 0:03:16.200 value conscious offering. You get an incredible amount of value 0:03:16.200 --> 0:03:20.960 from Elastin for a very low price, and that helps 0:03:20.960 --> 0:03:23.960 in tricky economic times. But fundamentally we have to justify 0:03:24.000 --> 0:03:27.799 with the customers and have them demonstrate to themselves ideally 0:03:28.760 --> 0:03:30.560 the value of our software and how it makes them 0:03:30.560 --> 0:03:33.760 more efficient to work together. And that's where I think 0:03:34.000 --> 0:03:36.240 we've kept a pretty clear north star for a long time. 0:03:36.280 --> 0:03:39.000 And why we have, you know, three hundred thousand customers 0:03:39.040 --> 0:03:42.000 and it's still growing strongly at the size we are today. 0:03:42.080 --> 0:03:45.120 Well those three hundred customers, three hundred thousand customers, excuse me, 0:03:45.160 --> 0:03:47.800 all over the world when you hear updates from your 0:03:47.840 --> 0:03:50.880 global sales sporce, are you hearing from then about any 0:03:50.960 --> 0:03:54.320 particular concern in different regions of the world that could 0:03:54.360 --> 0:03:58.600 be affected by tariffs, that are seeing weakness for other reasons. 0:03:58.680 --> 0:04:00.360 What's the read that you have on the globe from 0:04:00.400 --> 0:04:01.240 your sales for us. 0:04:04.040 --> 0:04:06.320 Look, there's always challenges in different parts of the world. 0:04:06.640 --> 0:04:08.480 This is not new. 0:04:09.800 --> 0:04:12.600 I think in any given small slice of time, we 0:04:12.640 --> 0:04:15.400 see that we have very global companies, we have very 0:04:15.400 --> 0:04:19.360 local companies in that three hundred thousand. Our customer base 0:04:19.360 --> 0:04:23.520 has always spanned small businesses through to very very large businesses, 0:04:23.520 --> 0:04:25.960 some of the largest companies in the world. In fact, 0:04:25.960 --> 0:04:28.599 we have like eighty five percent of the Fortune five 0:04:28.640 --> 0:04:32.039 hundred as customers. You have a lot of issues going 0:04:32.040 --> 0:04:34.159 on for a lot of different companies. Our job is 0:04:34.200 --> 0:04:36.200 to make those companies more efficient. They still have to 0:04:36.240 --> 0:04:39.520 deal with those issues. They have to run projects and 0:04:39.560 --> 0:04:43.840 collaborate and communicate with each other. We help them do that. 0:04:43.880 --> 0:04:46.520 We always have, and so whatever issues they're dealing with, 0:04:46.560 --> 0:04:48.559 whether it's an issue of growth, whether it's an issue 0:04:48.560 --> 0:04:52.760 with Vitariff or a challenge Atlatians try to help their 0:04:52.800 --> 0:04:54.640 teams deal with that issue more efficiently. 0:04:55.400 --> 0:04:57.160 If we can't demonstrate their value, we're not going to 0:04:57.200 --> 0:04:57.599 be around. 0:04:57.640 --> 0:05:00.800 So again, just sticking to that north Star has been 0:05:00.960 --> 0:05:02.440 a very simple principle for a long time. 0:05:02.560 --> 0:05:02.800 Vote. 0:05:03.000 --> 0:05:04.880 So, Mike, no, you're not seeing any signs of any 0:05:04.920 --> 0:05:07.800 kind of slow down or pullback by some of your 0:05:07.800 --> 0:05:10.640 customers as they kind of wait for the dust to settle. 0:05:10.680 --> 0:05:13.159 I mean, we certainly feel like we're in it, you know, 0:05:13.200 --> 0:05:15.440 as we have kicked off a new administration here and 0:05:15.920 --> 0:05:19.040 every day are dissecting different headlines that come out of 0:05:19.080 --> 0:05:22.000 the White House. But you know, there's geopolitical turbulence, as 0:05:22.040 --> 0:05:24.680 you well know, around the world, and I think there's 0:05:24.760 --> 0:05:27.000 you know, dust that needs to settle in different places. 0:05:27.040 --> 0:05:30.800 So is there any signs of any hesitation that you're 0:05:30.839 --> 0:05:33.159 seeing among customers or not yet? 0:05:35.040 --> 0:05:35.880 Look round one of you. 0:05:36.000 --> 0:05:39.719 We continue to see, you know, really good growth across 0:05:39.880 --> 0:05:43.120 customer events and especially in the enterprise segment. So our 0:05:43.240 --> 0:05:47.200 largest customers those organizations with you know, more than a 0:05:47.240 --> 0:05:50.480 thousand people around the world. We have more than five 0:05:50.520 --> 0:05:52.920 hundred customers that spend more than a million dollars a 0:05:53.000 --> 0:05:55.839 year now with at Lassian, and that is our fastest 0:05:55.839 --> 0:05:59.600 growing customer segment. So I'm sure that those businesses are 0:05:59.600 --> 0:06:01.960 having to do with all of that dust in the 0:06:02.000 --> 0:06:04.800 air as you talked about, But at the same time, 0:06:04.880 --> 0:06:06.640 they have their own customers to deal with. They still 0:06:06.680 --> 0:06:09.560 have their business to run, and whatever the problems are, 0:06:09.600 --> 0:06:11.919 they have to do with it. And so our software 0:06:11.920 --> 0:06:15.040 helps their teams deal with whatever it is that they 0:06:15.080 --> 0:06:17.919 need to do, how they handle their customers, and also 0:06:17.960 --> 0:06:20.839 how do they handle whatever is going on in whichever 0:06:20.880 --> 0:06:23.440 part of the world. As long as we keep that 0:06:23.800 --> 0:06:27.080 value ratio great for our customers. We invest very heavily 0:06:27.120 --> 0:06:29.040 in R and D and continue to develop and build 0:06:29.080 --> 0:06:34.320 our software every single day. We have a fantastic team. 0:06:34.680 --> 0:06:36.440 I'm not sure focusing on all that sort of thing 0:06:36.480 --> 0:06:38.560 is very helpful for us all for our customers. To 0:06:38.560 --> 0:06:40.479 be honest, they have their own customers to deal with, 0:06:40.560 --> 0:06:40.719 and I. 0:06:40.720 --> 0:06:42.839 Should put out last month, you guys reported second quarter 0:06:42.880 --> 0:06:46.080 results that beat expectations to raise your full your forecast, 0:06:46.120 --> 0:06:49.760 and investors have definitely rewarded you big time. The ADRs 0:06:49.800 --> 0:06:51.400 that trade in the United States are at more than 0:06:51.440 --> 0:06:53.360 fifty percent TIM in the past year. 0:06:53.560 --> 0:06:56.280 I just want to remind everybody we are waiting for 0:06:56.400 --> 0:06:58.719 President Trump. He's making comments in the Oval Office, where 0:06:58.720 --> 0:07:00.680 he's been speaking for the better part of close to 0:07:00.720 --> 0:07:02.440 an hour at this point. We'll bring those comments to 0:07:02.480 --> 0:07:04.320 you as soon as the tape playback starts. It is 0:07:04.480 --> 0:07:07.120 Bloomberg Business Week. That's Carol Master. I'm Tim Steneveek. We're 0:07:07.160 --> 0:07:10.640 speaking with Mike cannon Brooks, the co founder and CEO 0:07:11.160 --> 0:07:14.400 of at Lassian. Mike, I do want to talk a 0:07:14.440 --> 0:07:17.120 little bit about different industries that you serve. We talk 0:07:17.160 --> 0:07:19.040 a lot about AI. I know you guys are doing 0:07:19.080 --> 0:07:22.680 a lot with AI as far as customers go, Customers 0:07:22.680 --> 0:07:26.000 that are using your product, customers that are leaning into 0:07:26.040 --> 0:07:28.520 AI right now. Are you seeing more growth on the 0:07:28.520 --> 0:07:31.240 tech side of your business in terms of those types 0:07:31.280 --> 0:07:33.880 of customers given what we're seeing come from the tech 0:07:33.920 --> 0:07:35.880 community over the last couple of years. 0:07:37.880 --> 0:07:41.160 Great question, I as a huge topic among our customer base. 0:07:41.480 --> 0:07:44.640 From a Lastian's point of view, we certainly. 0:07:44.280 --> 0:07:47.960 Believe all of the progress making and AI every week, 0:07:48.000 --> 0:07:51.560 in every quarter at the moment is fantastic for our 0:07:51.600 --> 0:07:55.480 ability to achieve our mission right. We can build better 0:07:55.480 --> 0:07:58.920 and better products that more Taylor and our customized to 0:07:59.680 --> 0:08:02.280 the world that our customers are trying to do. There's 0:08:02.320 --> 0:08:06.440 no doubt our core customer base what we like to 0:08:06.440 --> 0:08:11.240 call technology driven companies, So companies that believe like William's 0:08:11.320 --> 0:08:14.880 Racing or like a financial services company, they both be 0:08:14.920 --> 0:08:19.560 the same that believe technology is their source of competition. 0:08:19.800 --> 0:08:23.440 It's the way that they are going to get an edge, survive, 0:08:23.600 --> 0:08:27.440 or thrive in their industry. Any of those businesses are 0:08:27.560 --> 0:08:30.640 deeply investing in AI in lots of different ways. They 0:08:30.680 --> 0:08:32.920 are trying to work out how this technology makes them 0:08:32.920 --> 0:08:37.280 more efficient, how it helps them to compete fundamentally. 0:08:38.160 --> 0:08:39.240 At Lastian's role. 0:08:39.120 --> 0:08:41.199 There is to invest very heavily, as we have done 0:08:41.240 --> 0:08:43.760 in the R and D of actually bringing AI to 0:08:43.800 --> 0:08:46.520 our customers. So we're a big believer that if we 0:08:46.559 --> 0:08:49.679 don't ship software that people can use the rest of 0:08:49.720 --> 0:08:52.320 it doesn't matter. It's all just kind of talk. So 0:08:53.040 --> 0:08:56.520 our investment has been in taking those AI innovations and 0:08:56.559 --> 0:09:01.400 developments every week, every month, incredibly rapidly, and getting them 0:09:01.400 --> 0:09:03.199 to our customers in a form that they can use. 0:09:04.120 --> 0:09:05.640 We have done that, and it's one of the things 0:09:05.679 --> 0:09:08.240 it's one of the things that lasting Williams Rising teams 0:09:08.240 --> 0:09:09.719 most excited about. It's one of the things that a 0:09:09.800 --> 0:09:11.400 lot of coustomers are talking about, is how they can 0:09:11.400 --> 0:09:14.360 make their businesses more efficient, especially as you mentioned in 0:09:14.600 --> 0:09:16.840 the Current Times, which is a big challenge. 0:09:16.920 --> 0:09:18.960 One last question about AI before we talk about some 0:09:19.000 --> 0:09:21.320 of the news you guys had this week. Our Bloomberg 0:09:21.320 --> 0:09:25.040 Intelligence team, our in house group of analysts noting that 0:09:25.120 --> 0:09:28.400 it may threaten your seat based sales model. They say 0:09:28.440 --> 0:09:33.440 Deep seeks cost effective model of training lms can bolster 0:09:33.520 --> 0:09:36.280 AI adoption, driving a shift of work to digital agents 0:09:36.320 --> 0:09:38.920 from humans, and so they say that's a risk for 0:09:38.960 --> 0:09:42.240 some of the enterprise software players with seat beat based 0:09:42.320 --> 0:09:45.560 revenue models, including yourself and some others. So will it 0:09:46.080 --> 0:09:49.000 could the deep Seek have an impact like that on 0:09:49.040 --> 0:09:49.640 your business? 0:09:52.120 --> 0:09:55.360 Look, we certainly deeply believe in the fact that agents 0:09:55.440 --> 0:09:57.720 are going to make a huge difference to businesses around 0:09:57.720 --> 0:10:02.000 the world. We're already seeing that that we're very much 0:10:02.040 --> 0:10:04.600 on the leading edge of that technology. We shipped our 0:10:04.640 --> 0:10:08.599 product Rovo a year and almost a year and a 0:10:08.640 --> 0:10:10.720 half ago now and have continued to update it and 0:10:10.840 --> 0:10:14.200 have now more than a million users waking up and 0:10:14.320 --> 0:10:17.960 using LASSI and AI technologies, including all of our agents 0:10:18.000 --> 0:10:18.440 every day. 0:10:19.400 --> 0:10:23.200 I think the. 0:10:22.360 --> 0:10:27.280 We take the position that AI fundamentally is about unleashing 0:10:27.320 --> 0:10:28.880 some form of human creativity. 0:10:28.960 --> 0:10:29.120 Right. 0:10:29.160 --> 0:10:33.400 It lets people do more with less. It helps them 0:10:33.480 --> 0:10:39.120 to be creative. It's a fantastical tool. That tool, there's 0:10:39.160 --> 0:10:43.640 no doubt, makes people able to do more. You can 0:10:43.679 --> 0:10:46.360 write more software, you can answer more emails, you can 0:10:46.360 --> 0:10:47.960 do whatever it is that you want to do, and 0:10:48.000 --> 0:10:48.640 you can do it. 0:10:48.520 --> 0:10:50.040 More creatively and at a higher level. 0:10:50.720 --> 0:10:53.000 The thing with most of the industries that we work in, 0:10:53.080 --> 0:10:55.640 right we sell to knowledge workers around the world, people 0:10:55.679 --> 0:10:57.720 that spend the day sitting at a laptop or behind 0:10:57.760 --> 0:11:02.680 a computer and using fundamentally creativity to try to improve 0:11:02.720 --> 0:11:06.440 whatever business they're working in. Those are usually not supply 0:11:06.600 --> 0:11:10.480 limited by human creativity. If you take software engineering as 0:11:10.520 --> 0:11:13.439 a field, if we made all software engineers in the 0:11:13.440 --> 0:11:16.080 world twice as effective, the question is, would we have 0:11:16.120 --> 0:11:18.320 half as many software engineers or would we build twice 0:11:18.360 --> 0:11:21.120 as much software. I think we'd end up building twice 0:11:21.120 --> 0:11:24.000 as much software, not the other way around, because we 0:11:24.040 --> 0:11:26.160 don't have a shortage of ideas of what we would 0:11:26.200 --> 0:11:29.240 like to build. In the world, most businesses don't get 0:11:29.240 --> 0:11:32.000 everything they need to get done. All our agents are 0:11:32.000 --> 0:11:34.960 doing is helping those businesses to achieve more, and they'll 0:11:35.160 --> 0:11:37.920 all be competitive with each other as well, so there's 0:11:37.920 --> 0:11:41.360 a natural are of conservation of profits there as well. 0:11:41.480 --> 0:11:44.199 Hey, Mike, I don't have my glasses on, but your 0:11:44.280 --> 0:11:47.840 hot I want to talk about, you know, some news 0:11:47.840 --> 0:11:50.440 you had this week and this is your partnership with 0:11:50.480 --> 0:11:52.319 Williams Racing the F one team. 0:11:52.960 --> 0:11:53.600 I believe it. 0:11:53.600 --> 0:11:56.800 Says that on your hat. Does it say that it does? 0:11:58.679 --> 0:11:59.680 Forgot forgive me? 0:12:00.040 --> 0:12:01.920 I said it all my glasses on and there's some 0:12:01.960 --> 0:12:04.520 distance here as I look back at our feedback monitor. 0:12:05.480 --> 0:12:06.240 Tell us about this. 0:12:06.160 --> 0:12:07.800 Partnership and what you guys are going to be doing 0:12:07.800 --> 0:12:11.640 and why you wanted to do it. 0:12:08.800 --> 0:12:14.720 It's an incredibly exciting partnership for us. It's from an 0:12:14.760 --> 0:12:17.960 Elastian point of view, it's the first major brand deal. 0:12:18.160 --> 0:12:20.200 From the Williams point of view, it's the first time 0:12:21.040 --> 0:12:24.840 it's the largest deal they've done. It is the first 0:12:24.880 --> 0:12:27.400 time they've had a title partner and a technology partner. 0:12:28.800 --> 0:12:32.959 Look, obviously, Williams is an amazing, storied. 0:12:32.640 --> 0:12:35.240 Race team, right, one of the winningest teams of all 0:12:35.240 --> 0:12:41.800 time and has had a challenging you last decade. However, 0:12:42.120 --> 0:12:45.560 there is huge renewal going on in the Elasti Williams team. 0:12:45.640 --> 0:12:45.840 Right. 0:12:46.120 --> 0:12:49.680 This partnership is just one step new partnership, new driver, 0:12:49.920 --> 0:12:54.840 new principles, new ownership, huge investment in digital transformation and 0:12:54.920 --> 0:12:57.719 technology as a way to catch up and to win. 0:12:59.200 --> 0:13:02.400 We are you know, I think eighty percent of the 0:13:02.440 --> 0:13:04.840 teams on the Greed or more are at Lassian customers 0:13:04.840 --> 0:13:06.360 and have been for decades. 0:13:06.400 --> 0:13:09.320 So this is a sport where technology is really important. 0:13:09.840 --> 0:13:11.280 It is a sport where. 0:13:11.559 --> 0:13:15.920 Technology teams, those building you know, fluidynamics models and wind 0:13:15.960 --> 0:13:19.520 tunnels and cars and all of the monitoring technology that 0:13:19.559 --> 0:13:21.680 goes into it have to meet with the business teams, 0:13:21.720 --> 0:13:26.240 those in the sponsorship groups. So our fundamental system of 0:13:26.240 --> 0:13:31.240 work is what the company, what Elassie Williams is trying 0:13:31.280 --> 0:13:35.400 to do and trying to embody We Then, obviously it's 0:13:35.400 --> 0:13:36.040 a global sport. 0:13:36.080 --> 0:13:37.439 We have customers all around the world. 0:13:38.000 --> 0:13:40.040 But more importantly, you know, having spent a lot of 0:13:40.080 --> 0:13:42.760 time now over the last six months with the Williams team, 0:13:43.400 --> 0:13:45.520 this is a really great cultural fit for a Lassian. 0:13:45.720 --> 0:13:46.520 This is a team of. 0:13:46.480 --> 0:13:50.040 People who are working incredibly hard every day to use 0:13:50.080 --> 0:13:54.920 technology to try to change their fundamental outcome. They're on 0:13:54.960 --> 0:13:59.640 a massive journey of rebuild the culture. The palpability of 0:13:59.640 --> 0:14:04.480 getting act to the winner's circle is phenomenal, and we 0:14:04.600 --> 0:14:06.600 just we fell in love with the story and we're like, okay, 0:14:06.600 --> 0:14:09.160 we can help you do this. So we're leaning very 0:14:09.160 --> 0:14:13.480 heavily into technology partnership. We have a lot of things 0:14:13.520 --> 0:14:15.480 we can help them with to make their business far 0:14:15.520 --> 0:14:18.839 more efficient and hopefully, you know, change the results of 0:14:18.880 --> 0:14:22.960 the team, which is a mission that at Lastian now 0:14:23.000 --> 0:14:24.280 has thousands of people working on. 0:14:24.360 --> 0:14:25.720 So sad about that. 0:14:25.680 --> 0:14:27.560 It's a long term deal. It's been described as a 0:14:27.600 --> 0:14:30.280 record breaking deal. Just for context. Can you give us 0:14:30.280 --> 0:14:32.800 some of the numbers behind this deal, how much it costs? 0:14:34.200 --> 0:14:36.400 I can, Unfortunately, I can tell you that it is 0:14:36.560 --> 0:14:37.760 certainly a long term deal. 0:14:38.480 --> 0:14:41.280 Are we're on the at Lastian Williams journey right and 0:14:41.640 --> 0:14:44.400 we are trying to use all of our software and 0:14:44.400 --> 0:14:47.240 all of our technology, and all of our culture and 0:14:47.280 --> 0:14:51.320 our practices of how we work to show fundamentally our 0:14:51.360 --> 0:14:53.280 customers and to show the world that we can make 0:14:53.320 --> 0:14:58.800 a massive difference in what is obviously an incredibly competitive industry. 0:14:59.000 --> 0:15:04.120 Right down to hundreds of milliseconds. The gap between first 0:15:04.480 --> 0:15:06.520 and last on the grid in the last race of 0:15:06.600 --> 0:15:08.240 last year was the smallest it's ever been. 0:15:09.960 --> 0:15:12.840 Is Okay, So we don't have the details on the 0:15:12.880 --> 0:15:16.560 exact figures, but how do you justify ROI on this 0:15:17.000 --> 0:15:20.600 given that it's such a big deal, and you know, 0:15:20.880 --> 0:15:23.640 it's kind of hard to measure how many people will 0:15:23.640 --> 0:15:26.760 become LASSI in customers as a result of this title sponsorship. 0:15:29.240 --> 0:15:33.040 Look, we're we always have been an incredibly metric focused organization. 0:15:34.840 --> 0:15:36.880 As a large bootstrap company. 0:15:36.920 --> 0:15:40.920 You don't get that way without a numbers. 0:15:41.520 --> 0:15:44.320 Look, we have a number of success metrics here. 0:15:44.400 --> 0:15:48.400 Firstly, always from a brand point of view, Formula one 0:15:48.480 --> 0:15:51.560 is a very fast growing and global sport and we have, 0:15:51.680 --> 0:15:54.480 as I mentioned, customers in almost every country on the planet. 0:15:54.560 --> 0:15:57.840 So we need to continue to have our brand and 0:15:57.880 --> 0:16:00.000 our presence and our story told in a larger life 0:16:00.200 --> 0:16:03.440 way around the world. But that's obviously worth a lot 0:16:03.440 --> 0:16:08.480 of money to us. Secondly, as an enterprise opportunity, the 0:16:08.760 --> 0:16:12.960 Formula one is you know, it's like a mobile executive 0:16:13.000 --> 0:16:16.360 briefing center, right it takes its business. This is a 0:16:16.400 --> 0:16:18.720 fantastical customer of it lasting that we can take to 0:16:18.760 --> 0:16:21.280 twenty four cities around the world, and in those twenty 0:16:21.320 --> 0:16:24.440 four cities we can bring our biggest customers to show 0:16:24.440 --> 0:16:27.320 them how Williams works, what we are doing to help 0:16:27.360 --> 0:16:30.320 the team. And this is incredibly powerful in the enterprise 0:16:30.360 --> 0:16:35.480 to be able to show real world examples of what 0:16:35.520 --> 0:16:36.680 we can do to help a customer. 0:16:36.880 --> 0:16:37.680 Mike, just real quick. 0:16:37.720 --> 0:16:42.400 One last question the Formula one, the FW four seven 0:16:42.760 --> 0:16:45.080 car forty seven car that's going to have your branding. 0:16:45.440 --> 0:16:48.600 I guess it gets unveiled. I don't know really soon. 0:16:48.800 --> 0:16:50.080 Are you going to be able to take it around 0:16:50.080 --> 0:16:51.360 the track? Have you been told that. 0:16:51.320 --> 0:16:51.960 You're could or. 0:16:54.200 --> 0:16:56.000 Look, my driving skills might need a little bit of 0:16:56.120 --> 0:16:59.480 work for that one. I've certainly sat in the car 0:16:59.600 --> 0:17:02.200 and tell you that is that is a challenging job. 0:17:02.240 --> 0:17:05.840 That is not It's not not as comfortable as as 0:17:05.880 --> 0:17:09.080 my daily driver, that's for sure. It does get failed 0:17:09.119 --> 0:17:12.240 on Tuesday, and we're certainly really exciting. We've done some 0:17:12.840 --> 0:17:16.280 really innovative actually, I think for for Formula one design 0:17:16.359 --> 0:17:19.600 work between the Lassian design team and the Williams design teams. 0:17:19.720 --> 0:17:24.879 So super excited to show the world the car on Tuesday, 0:17:25.320 --> 0:17:28.560 and super excited to show how we're trying to bring 0:17:28.600 --> 0:17:32.679 our collaboration and teamwork practices, you know, right into that 0:17:32.840 --> 0:17:36.480 into that car in fact, and into the garage, into 0:17:36.480 --> 0:17:38.320 all the mechanics and all the strategiest that work on 0:17:38.359 --> 0:17:38.960 the race as well. 0:17:39.040 --> 0:17:42.520 So we're not just a digital company you'll see on Tuesday. 0:17:42.600 --> 0:17:45.280 Don't totally need a AI for that, right, you just 0:17:45.320 --> 0:17:49.879 need a really cool car. I'm just going to say. 0:17:50.320 --> 0:17:52.320 A lot of things to compete in the sports. 0:17:52.400 --> 0:17:55.440 So we're we're on the journey, we're learning a lot, 0:17:55.560 --> 0:17:56.800 and we're putting our. 0:17:56.720 --> 0:17:57.320 Shoulder behind it. 0:17:57.520 --> 0:17:58.920 Carol, I do feel like if you signed the check, 0:17:58.920 --> 0:17:59.760 you can drive the car. 0:18:00.119 --> 0:18:01.960 I'm just gonna say, Mike, you know you do get 0:18:01.960 --> 0:18:04.239 some leverage with all of this. I'm just gonna you know, 0:18:04.280 --> 0:18:06.040 and the company name is going to be on the car, 0:18:06.160 --> 0:18:08.160 so you should be able to take it out for spin. 0:18:09.320 --> 0:18:10.920 Look, I would also say it might not be a 0:18:10.920 --> 0:18:13.200 good idea for the Williams team or the Elastic team. 0:18:13.240 --> 0:18:17.080 I'm not sure my team would think that's a great 0:18:17.080 --> 0:18:19.359 idea for me to be driving it to three hundred 0:18:19.600 --> 0:18:21.960 or more kays an hour around the track. 0:18:22.280 --> 0:18:25.600 Here I hear you listen. Thank you so much. 0:18:25.600 --> 0:18:27.159 We know it's later where you are, but we so 0:18:27.240 --> 0:18:30.160 appreciate you joining us on this Thursday. 0:18:30.240 --> 0:18:32.720 Really really appreciating. Good luck out with that partnership. 0:18:33.400 --> 0:18:36.159 We've been of course talking to Mike cannon Brooks, he's CEO, 0:18:36.240 --> 0:18:39.000 co founder of ed Lassian, and of course talking about 0:18:39.200 --> 0:18:41.520 the new news that they had their deal, their partnership 0:18:41.640 --> 0:18:42.920 when it comes to F one racing. 0:18:42.960 --> 0:18:44.720 So some really cool thing with the Williams team. 0:18:45.680 --> 0:18:49.359 You're listening to the Bloomberg Business Week podcast. Catch us 0:18:49.440 --> 0:18:52.439 live weekday afternoons from two to five these during listen 0:18:52.480 --> 0:18:56.040 on Applecarplay and Android Otto with the Bloomberg Business app, 0:18:56.200 --> 0:18:58.960 or watch us Live on YouTube. 0:19:00.240 --> 0:19:02.520 Another headline from the President, I'd love to have Putin, 0:19:02.840 --> 0:19:05.439 President Putin of Russia back in the G seven. He 0:19:05.680 --> 0:19:08.960 also says, I do believe that President Putin really wants peace, 0:19:08.960 --> 0:19:12.760 and of course he's referring to the war between Russia 0:19:12.760 --> 0:19:13.679 and Ukraine Team well. 0:19:13.680 --> 0:19:17.320 Bloomberg Economics calculates that protecting Ukraine and expanding their own 0:19:17.359 --> 0:19:21.200 militaries could cost the continent's major powers an additional three 0:19:21.280 --> 0:19:23.680 point one trillion dollars over the next ten years. 0:19:23.720 --> 0:19:25.080 All right, let's see what our guest has to say. 0:19:25.160 --> 0:19:28.159 Let's head to London and Monica Bishkoshkaida. She is the 0:19:28.200 --> 0:19:32.080 public policy director of the strategic consultancy firm Key Element Group. 0:19:32.200 --> 0:19:34.400 Monica is so good to have you here with us, 0:19:36.400 --> 0:19:39.520 President Trump. Another headline from the Oval Office, Russia should 0:19:39.520 --> 0:19:40.080 be sitting. 0:19:39.920 --> 0:19:40.560 At the table. 0:19:41.920 --> 0:19:43.840 What are the tea leaves we need to read in 0:19:43.960 --> 0:19:46.400 terms of what we are getting from President Trump today? 0:19:46.760 --> 0:19:50.440 And also knowing that President Trump spoke with President Putin yesterday. 0:19:52.359 --> 0:19:55.639 Yeah, so the call between President Trump and President of 0:19:55.640 --> 0:19:58.879 Putin has shown that they're communicating directly, which means that 0:19:58.920 --> 0:20:01.800 the Green husband sidelin Ukraine is not part of the 0:20:01.840 --> 0:20:05.560 conversation about its own future. And as I said, right now, 0:20:05.600 --> 0:20:10.240