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Speaker 1: From Mahard where Innovation, Money and power Collie in Silicon Valley, NBR.

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Speaker 1: This is Bloomberg Technology with Caroline Hyde and Ed Ludlow.

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Speaker 2: I'm Caroline Had of Lumberg's weldad quarters in New.

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Speaker 3: York, and I'med Ludlow here in San Francisco. This is

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Speaker 3: Bloomberg Technology coming up.

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Speaker 4: Microsoft meets with UK regulators to try clear the final

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Speaker 4: hurdle in its sixty nine billion dollar takeover of Activision.

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Speaker 2: We'll read the latest from the productive talks.

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Speaker 3: Plus we'll look at the sticking points in the strikes

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Speaker 3: to the shut down Hollywood and how AI could transform

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Speaker 3: Tenttaltown as we know it.

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Speaker 4: And from AI to vr US aviation regulators and turning

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Speaker 4: to a small Swiss tech startup to rethink how helicopter

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Speaker 4: pilots and others are trained using virtual.

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Speaker 3: Reality Microsoft Activision. The situation is this Right now as

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Speaker 3: we speak, there is a hearing at the Competition Anti Trust.

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Speaker 5: Tribunal in the UK.

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Speaker 3: All they are deciding is an ask from all the parties,

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Speaker 3: the UKCMA, Microsoft and Activision to stay legal proceedings so

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Speaker 3: that they can find a solution. They can find a

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Speaker 3: way of moving forward. The deal deadlines July eighteenth, as

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Speaker 3: per the original merger agreement. It's now crunch time. Does

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Speaker 3: this happen? Activision up three percent the market soft proxy,

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Speaker 3: but the stock seems to suggest there's confidence that we're

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Speaker 3: moving forward towards a solution.

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Speaker 4: All about that competition and pel tribunal and all about well,

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Speaker 4: those productive talks we understand thus far, Microsoft kicking off

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Speaker 4: that hotly anticipated court hearing, with the discussions with the

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Speaker 4: agency today. It's desperately trying, as you say, just to

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Speaker 4: get this deal done sixty nine billion, and we know

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Speaker 4: the clock is sticking on July the eighteenth for Activision Blizzard.

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Speaker 4: Let's get to Brodie Ford, who's been across this, And

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Speaker 4: I mean, UK is the hurdle, it really is.

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Speaker 6: Yep, yeah, that's right. I mean, as you said, it's

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Speaker 6: down to the wire tomorrow. If Microsoft doesn't close it,

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Speaker 6: they'd pay three billion dollars. I'm sure they don't want

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Speaker 6: to do it, or they could go ahead and close

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Speaker 6: it and risk further out from UK regulators.

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Speaker 5: So I mean, the market seems to think this is closing.

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Speaker 6: I mean, I saw a note coming in here that

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Speaker 6: the word imminently is being thrown around a lot, right,

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Speaker 6: So could we see a decision from the UK today

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Speaker 6: and see it all close wrapped up?

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Speaker 2: Absolutely?

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Speaker 6: But you see that you know there's still that what

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Speaker 6: three four percent deal spread? Some people think there's still

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Speaker 6: a risk, so down to the wire.

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Speaker 3: When I spoke to sources at both companies Friday, there

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Speaker 3: was a lot of confidence that this deal would close

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Speaker 3: before or on July eighteenth, tomorrow, the deadline as per

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Speaker 3: the merger agreement. But what you have is so many

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Speaker 3: things in parallel. All the Appeals Tribuno is looking at

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Speaker 3: is whether to allow the parties to go away and

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Speaker 3: find some compromise between the two of them. The UKCMA

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Speaker 3: stay and did its regulatory process till August twenty ninth.

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Speaker 3: There is still an Appeals Tribunal trial scheduled for July

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Speaker 3: twenty eighth, So so many moving pieces. Brody, What is

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Speaker 3: the request here? What is it that Microsoft and Activision

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Speaker 3: want to happen in between all of these dates?

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Speaker 6: Yeah, well they wanted to close, and I think maybe

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Speaker 6: what we should asking is what does the UK want

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Speaker 6: to see. We saw Microsoft over the weekend make some

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Speaker 6: concessions with Sony and say that look, we will agree

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Speaker 6: that Call of Duty will remain on your platform for

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Speaker 6: at least the next ten years. This is an agreement

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Speaker 6: they tried to make previously, and Sony was actually the

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Speaker 6: one that rejected it. So I think Sony coming to

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Speaker 6: the table as an indicator that you know, they see

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Speaker 6: the writing on the wall. Some of my colleagues have reported,

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Speaker 6: including you, that you know, Microsoft has considered selling off

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Speaker 6: some of its rights to cloud gaming in the UK,

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Speaker 6: which was a point of concern for regulators. So I

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Speaker 6: think we could see some concessions like this and just

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Speaker 6: you know whatever that as little closing deal is needed

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Speaker 6: to get it through the edge.

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Speaker 2: Have we seen much like this before?

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Speaker 4: Do we ultimately always get down to the wire when

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Speaker 4: it comes to these sort of regulatory headaches and when

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Speaker 4: we have such clear cut dates that yeah to be

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Speaker 4: done by it?

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Speaker 6: Well, I don't think so, because I think what's different

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Speaker 6: here is the regulators are newly empowered to try to

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Speaker 6: challenge these mergers, right. I mean, we had a regulatory

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Speaker 6: regime in the US for many decades that allowed most

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Speaker 6: mergers to go through, maybe with some concessions, but these

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Speaker 6: things happened in a pretty more predictable way. I would say,

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Speaker 6: I think this has been uncharted territory for the acquirer,

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Speaker 6: the acquiree.

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Speaker 2: The regulators.

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Speaker 6: I mean, I think it's been an uncharacteristically wild ride

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Speaker 6: as it relates to large mergers.

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Speaker 2: I like that uncharacteristically wild rided.

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Speaker 3: Yeah, I mean, we're all assuming that this does go smoothie,

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Speaker 3: and my question is what happens if it doesn't. We'll

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Speaker 3: save that for tomorrow. Blim bugs, Brady Ford, thank you

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Speaker 3: very much. Just stick in the world of tech media

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Speaker 3: and telecoms. We're talking about AI swiftly changing the way

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Speaker 3: Hollywood operates and why it's holding up talks in the

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Speaker 3: actor and writers' strikes really quickly. Also watching shares of Paramount,

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Speaker 3: this is where Mission Impossible dead Reckoning Part one has

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Speaker 3: missed the mark against estimates over the weekend down four percent.

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Speaker 3: Really interesting. So when I spoke to Paramount CEO got

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Speaker 3: backish last week. He was very confident that opening weekend

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Speaker 3: would be a success for the new Mission Impossible. But

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Speaker 3: the data fifty six point two million dollars across theaters

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Speaker 3: this weekend, it's not what we wanted to see.

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Speaker 5: Shares down four percent. This is Bloomberg Technology.

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Speaker 3: Hollywood actors and writers continue their strike, demanding pay increases

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Speaker 3: and residuals in streaming, plus assurances their work will not

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Speaker 3: be replaced by artificial intelligence. More as bringing in Bloombergs

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Speaker 3: Lucas Shaw, who leads our coverage of all things entertained,

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Speaker 3: and Lucas, you've been out on the street, You've been

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Speaker 3: tracking on the ground these strikes.

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Speaker 5: Are they close to getting what they want?

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Speaker 7: It doesn't seem that way. I mean, look, the actors

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Speaker 7: just went on strike mid to late last week. I

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Speaker 7: don't expect intense negotiations this week. You know they're going

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Speaker 7: to want to be on the picket line trying to

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Speaker 7: make their point. Have a couple of weeks at least

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Speaker 7: where they make the studios sweat.

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Speaker 8: You know.

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Speaker 7: I may hear different, as I talked two more sources

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Speaker 7: in the week pick up, but at this point I

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Speaker 7: think most folks are expecting this will drag into the

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Speaker 7: ball at the absolute earliest.

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Speaker 4: How much can they make the studios sweat? Here, Lucas,

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Speaker 4: how important is it and they get them back to

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Speaker 4: work in some sort of time frame post labor Day In.

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Speaker 5: The short term, not a ton.

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Speaker 7: You know, it'll impact the release of some movies because

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Speaker 7: now talent can't do can't do promo. You know, you

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Speaker 7: have any titles coming out in July, August, early September,

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Speaker 7: they're not going to be on the talk shows, They're

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Speaker 7: not going to be doing podcasts, all those things. You know,

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Speaker 7: most TV networks will be fine. You know, August and

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Speaker 7: summer is kind of slow. Streaming services have banked a

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Speaker 7: lot of programming for the next several months, So I

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Speaker 7: don't think you're going to see dramatic impact right away.

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Speaker 7: But where it does start to hurt them is I

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Speaker 7: think if this drags on certainly into September, you're going

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Speaker 7: to have a lot of companies that you are looking

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Speaker 7: at a pretty bare slate next year because they can't

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Speaker 7: finish work on projects, they can't start work on projects,

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Speaker 7: and you'll have some people maybe move movies because they

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Speaker 7: don't want to release a big tenth pole that they

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Speaker 7: can't use the starts to promote it all.

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Speaker 3: Lucas, Hollywood has found the perfect villain in artificial intelligence.

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Speaker 3: Our boss Bradstone rights in a newsletter, just explain the

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Speaker 3: AI villainy at the heart of this actors strike, because

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Speaker 3: it's already come up in the right to strike.

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Speaker 7: Yeah, I mean it's important to note that things like

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Speaker 7: you know, residuals, which is being paid for reruns and

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Speaker 7: minimum salaries and being rewarded in success. All of those,

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Speaker 7: I'd say, are the sort of the meat and potato issues,

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Speaker 7: the ones that are most important to resolve. But AI

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Speaker 7: has become something, whether it's writers or actors, that everyone

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Speaker 7: is a little scared about because they already feel as

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Speaker 7: if streaming and sort of the onset of the internet

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Speaker 7: has hurt their pay and given corporations too much power,

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Speaker 7: and they see an AI a real existential threat that

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Speaker 7: could hollow out sort of.

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Speaker 5: The middle and lower class.

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Speaker 7: Because it's not like you know, you're going to use

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Speaker 7: artificial intelligence likely to a place a Margo Robbie or

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Speaker 7: a Brad Pitt or the single greatest screenwriter in the world.

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Speaker 7: But you could see artificial intelligence reduce the amount of

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Speaker 7: work that people have or eliminate much smaller roles that

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Speaker 7: could be replicated with a computer.

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Speaker 5: And or for a writer.

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Speaker 7: You could see AI come up with an idea, and

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Speaker 7: a writer who writes an adapted screenplay gets paid less

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Speaker 7: often than someone with a wholy original idea. So there's

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Speaker 7: just a lot of anxiety and uncertainty because nobody really

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Speaker 7: knows where this is going, and they feel like the

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Speaker 7: studios have not really met them halfway.

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Speaker 4: Luca schul, we thank you. It's been brilliant coverage throughout.

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Speaker 4: Let's just think about how we could see some sort

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Speaker 4: of equitable or in equitable future of how Ai and

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Speaker 4: the workers team together.

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Speaker 2: We're delighted to welcome Sunny Dill and he's a partner

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Speaker 2: at Kaiba Night Capital.

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Speaker 4: I mean, and Sonny, you're steeped in the world of

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Speaker 4: how Ai and movie making and creation really come together.

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Speaker 4: Capital course backed by some previous CEOs of some of

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Speaker 4: the studios out there. I know that you've worked before

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Speaker 4: with Warner Brothers and Strategy, been thinking about spinoffs and

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Speaker 4: venture and cinema. What do you think artificial intelligence is

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Speaker 4: going to do to content creation?

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Speaker 9: I think artificial intelligence is better referred to as augmented intelligence.

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Speaker 9: It's actually a democratizing force to allow creators of all

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Speaker 9: kinds to be able to produce work at a larger

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Speaker 9: quantity and a quicker pace than they ever were before.

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Speaker 9: I think it's really exciting to bring character to light

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Speaker 9: using technologies such as deep fakes for one's voice or

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Speaker 9: one's base and likeness, bringing characters to like that otherwise

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Speaker 9: would have have been retired. For example, one of my

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Speaker 9: favorites is the new Obi Wan Kenobi series on Disney Plus.

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Speaker 9: It's a great example of using James Earl Jones's voice.

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Speaker 9: He's a ninety two year old actor, but there was

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Speaker 9: a licensed use, a deep fake use of his voice

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Speaker 9: to be recast as Dark Vader in that program, which

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Speaker 9: I thought was truly a magical experience to re immerse

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Speaker 9: in some of the great work that Star Wars.

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Speaker 5: Was known for us.

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Speaker 4: Sunny that that magic must come at a cost and

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Speaker 4: a price ultimately, And do you think movie studios are

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Speaker 4: ultimately going to be able to get their head around

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Speaker 4: where that cost eventually goes.

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Speaker 2: Can they see round corners to be able to ensure

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Speaker 2: that well.

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Speaker 4: The fears of the actors the writers is that they're

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Speaker 4: recompensed in the right way.

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Speaker 9: I think that's really a separate conversation from the core

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Speaker 9: technology being an enabling one and creating content that's really

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Speaker 9: truly magical. As I said, compensation and revenue splits are

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Speaker 9: absolutely something that needs to accompany this, But I don't

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Speaker 9: think that the technology itself ought to be demonized because

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Speaker 9: I do think it's going to be a rallying cry

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Speaker 9: for many would be creators out there. I do think

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Speaker 9: backhand splits, usage of one's likeness, being able to leverage

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Speaker 9: that likeness, and exciting ways in collaboration with the IP owner,

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Speaker 9: these are things that absolutely need to be handled.

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Speaker 6: I think the.

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Speaker 9: Same way that MP three's changed the music business in

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Speaker 9: many ways and created new revenue opportunities, there was a

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Speaker 9: lot of fear that kind of accompanied the onset of

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Speaker 9: that new technology at the beginning. I think augmented reality

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Speaker 9: in the future will usher in another wave of a

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Speaker 9: new business model that needs to emerge to barely compensate

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Speaker 9: creators whose artwork or IP is being leveraged on this

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Speaker 9: new technology medium. So yes, it's a conversation that needs

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Speaker 9: to be had. And I do want to say though

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Speaker 9: that I think the technology itself is a very positive thing.

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Speaker 5: That's really where we stand.

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Speaker 3: Sonny your fund kiber Knight Capital. It's backed by CEOs

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Speaker 3: executives who have spent a lot of time at studios.

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Speaker 5: Whose side are you on, I'm on the side of

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Speaker 5: the technology.

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Speaker 9: I think that the technology is a very exciting thing.

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Speaker 9: It's going to change lives in a very positive way.

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Speaker 9: The business and monetization around it is absolutely something that

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Speaker 9: I think the studio executives absolutely must figure out because

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Speaker 9: fairness and equal compensation here is a very important aspect

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Speaker 9: of the conversation.

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Speaker 3: You know, one of the companies we track is Runway

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Speaker 3: right text to video on this program, and if their

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Speaker 3: concept and technology proves to be a value add to

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Speaker 3: making films, then the actors who are striking will be concerned.

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Speaker 5: Right.

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Speaker 3: Do you see a situation where we find a resolution

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Speaker 3: where the actors are happy and we keep investing in

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Speaker 3: technology that can potentially displace jobs.

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Speaker 9: Yeah, I think that Runway mL gent to text video

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Speaker 9: that you're describing is probably one of the most exciting

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Speaker 9: things to happen in this whole category. Since we've been

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Speaker 9: following generals of artificial intelligence over the last few years,

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Speaker 9: and it's truly amazing what you've been able to see

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Speaker 9: out there with some of the you know, Pizza Hut

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Speaker 9: and Pepsi and Budweiser commercials that have been generated entirely

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Speaker 9: by text fonts, and you'd think it was just any

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Speaker 9: standard nineteen eighties American TV commercial. I think that when

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Speaker 9: you see it with people with seven fingers and you

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Speaker 9: know them gulping down, you know, uh thout something that

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Speaker 9: looks far like anything besides a beer, can you get

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Speaker 9: to a point of seeing just how rudimentary and early

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Speaker 9: we are with this technology. I don't think it's right

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Speaker 9: to think that it will be replacing people, because you

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Speaker 9: could argue that epics unreal engine being used to shoot

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Speaker 9: the Mandalorian could have displaced you know, certain crew members

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Speaker 9: who were working in visual effects before. It's simply putting

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Speaker 9: out better content that audiences want. When it comes down

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Speaker 9: to Runway mL in particular, I think of it more

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Speaker 9: as an editing and storyboarding kind of component of the

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Speaker 9: green lighting process. I don't think it's in a place

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Speaker 9: to be able to fully generate a film anytime soon

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Speaker 9: that would replace even the most basic, you know, kind

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Speaker 9: of roles in the entertainment industry. It's just a storyboarding

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Speaker 9: component to getting to the final product. It's a stepping

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Speaker 9: stone the kind of way that you would be using

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Speaker 9: a variety of Adobe after effects kind of tools or

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Speaker 9: storyboarding tools to kind of put before a producer for

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Speaker 9: green lighting in the first place.

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Speaker 4: Sonny another way you say you, Well, if you're on

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Speaker 4: the side of technology, you don't want to be seeing demonized.

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Speaker 2: Where are you seeing the excitement?

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Speaker 4: Then let's go in on the silver lining to some

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Speaker 4: of the clouds and the fears. You're looking at writing checks,

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Speaker 4: you're looking at backing some of the most revolutionary types

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Speaker 4: of technology in this space.

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Speaker 2: Where is it being built? Who by? What sort of

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Speaker 2: companies are interesting you?

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Speaker 9: Yeah, So I think that using deep fake technology is

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Speaker 9: incredibly exciting for a multitude of applications, entertainment being one

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Speaker 9: of them. Bringing voices, cloning voices and bringing characters to

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Speaker 9: life is something I described with the Obi wan kenob

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Speaker 9: deep fake for voice kind of applications. There's a great

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Speaker 9: company called Resemble AI that's doing things like that. There's

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Speaker 9: another company that's out there doing it for dubbing when

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Speaker 9: it comes to international language localization called Synesthesia, based out

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Speaker 9: of London. It allowed David Beckham to film one commercial

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Speaker 9: one time in English and his face and voice with

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Speaker 9: his authorization, of course, you will be dubbed into local

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Speaker 9: local languages completely seamlessly, and I think that's a very

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Speaker 9: interesting application for advertising. I think another really interesting applic

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Speaker 9: that speaks to me is in the gaming industry where

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Speaker 9: you can have generative AI and chat. GBT actually be

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Speaker 9: used to generate decision trees and dialogue with NPC's non

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Speaker 9: playable characters. Yea on the as you're navigating quests. I

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Speaker 9: think that's another really interesting space we're looking at right now.

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Speaker 3: Sunny Dylan Kyba nightcaps are also dropped a few knowledge bombs.

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Speaker 3: There a lot of streaming. You've got a lot of

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Speaker 3: streaming on your mind. I like that Star War as well.

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Speaker 3: Time for talking tech. First up, China's top chip maker

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Speaker 3: has resigned about a year after formally assuming his role,

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Speaker 3: so the latest high profile departure from a company there's

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Speaker 3: been rocked by US chip sanctions, and two major Chinese

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Speaker 3: chip equipment makers are predicting a doubling in profits after

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Speaker 3: the US clamped on exports of American technology. Homegrown gear

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Speaker 3: suppliers are benefiting from this self sufficiency push, with Beijing

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Speaker 3: vowing to replace foreign tech with local options. Plus, America's

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Speaker 3: largest semi conductor companies are launching an effort to head

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Speaker 3: off new curbs on their sales to China. Senior executives

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Speaker 3: are traveling to Washington next week to lobby against restricting

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Speaker 3: sales of semiconductors and certain chips Caroline.

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Speaker 4: And just speaking of chips, let's turn to their application

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Speaker 4: in evs for example. More so specifically, let's talk about Tesla,

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Speaker 4: because can it protect us lead in that market or

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Speaker 4: easier law Musk losing his head start, We're all looking towards.

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Speaker 4: Of course, Tesla's numbers coming out Wednesday, and Lumberg went

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Speaker 4: to its professional retail investors with a question from our

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Speaker 4: latest they're called an end Live Pulse survey mos esher

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Speaker 4: days here with the highlights and basically we're asking our

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Speaker 4: audience on the terminal, do you have faith that al

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Speaker 4: Musk and Tesla can keep winning against the competition? You

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Speaker 4: worried about distractions? What really is the is the investor

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Speaker 4: telling us right now about that war?

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Speaker 2: Is the Tesla?

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Speaker 10: Hi, and thanks for having me. Yeah, So that was

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Speaker 10: essentially the biggest question that we asked in the survey.

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Speaker 10: You know, what you think are the biggest risks for

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Speaker 10: Tesla in the next two years. And the and the

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Speaker 10: resounding answer, I would say was rivals. You know, the

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Speaker 10: competition that's coming in from rival automakers, we startups be it,

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Speaker 10: you know, the gms and folds of the world. That's

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Speaker 10: what investors are watching out for. They think that is

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Speaker 10: like the biggest risk facing the company. About fifty percent

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Speaker 10: of the six hundred and thirty responders, which is sort

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Speaker 10: of a mix of both professional and retailed investors, said

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Speaker 10: that rivals are the biggest risk for this company. And

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Speaker 10: the second one that I definitely want to talk about

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Speaker 10: here is Eon Musk himself. The behaviors and some of

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Speaker 10: the un predictability that Elon Musk brings with his leadership,

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Speaker 10: which is also something that Tesla cannot be successful without,

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Speaker 10: is something that investors flagged as one of the big

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Speaker 10: risks for the company.

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Speaker 5: So a lot of complaints.

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Speaker 3: I mean, the stock's up one hundred and thirty three

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Speaker 3: percent so far this year. Two thirds of respondents want

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Speaker 3: Musks to do what esher spend more time just on

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Speaker 3: that that stock that's had a good run.

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Speaker 10: That's correct, Yes, it's had a really great run, but

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Speaker 10: it's still far it's quite far away from you know,

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Speaker 10: that one point two one point three trillion mark that

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Speaker 10: it touched last year. It's I think Tesla's market cap

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Speaker 10: is houring around eight hundred and nineteen nine hundred billion

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Speaker 10: right now. So you know, people who who are believers

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Speaker 10: in Tesla, they think, you know, this is a stock

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Speaker 10: that can run much further and it's not just an

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Speaker 10: EV play anymore. It's now an AI place. So you know,

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Speaker 10: as we know with Tesla investors, the sky is the limit.

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Speaker 10: And we saw like a sixty seven percent of the

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Speaker 10: Servie responders said that Mosk needs to focus more on Justina. Yeah,

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Speaker 10: so there we have.

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Speaker 5: It all right day, who has the polse on Wall Street?

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Speaker 5: Thank you so much.

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Speaker 2: Welcome back to Bluemo Technology.

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Speaker 3: I'm Karen Hide in New York and Ed Ludlow here

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Speaker 3: in San Francisco, a small Swiss technology startup. It's been

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Speaker 3: chosen to rethink how helicopter pilots are trained in the

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Speaker 3: US with VR headsets. The FAA will evaluate the technology

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Speaker 3: in flight simulators for the first time, taking delivery of

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Speaker 3: systems from Zurich based Loft Dynamics and its CEO, Faby Reasons,

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Speaker 3: joins US now from Zurich. So what's the scale of

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Speaker 3: this agreement, Faby? How many units did you agree with

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Speaker 3: the FAA and what does this represent.

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Speaker 5: For your tech?

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Speaker 1: Thanks? Thanks a lot for having me. Yeah, right, now

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Speaker 1: is having units to evaluate the technology, so we are

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Speaker 1: building them since twenty and sixty informally known as vrmswitz

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Speaker 1: a Land and basically the whole trick caase that we

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Speaker 1: are improving the visual projection by using VR headset. I

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Speaker 1: mean traditional fly simulators full flight simulators are using dome

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Speaker 1: projection and they are actually missing the three D perception

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Speaker 1: and with we altual reality, the whole thing gets improved.

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Speaker 1: So based on that, we also make it possible for

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Speaker 1: pilots fly close to the ground. In addition, it is

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Speaker 1: enabling the visual three hundred and sixty degrees around full

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Speaker 1: panoramic fuel. And because we're using VR headset instead of

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Speaker 1: those gigantic dome projection, the whole thing gets smaller and

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Speaker 1: we can move it much more dynamic, improving the fidelity

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Speaker 1: level of the entire full motion simulator with full BLOWND

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Speaker 1: cockpit and there all possible things.

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Speaker 3: Sabi, how much does a single system cost headset and

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Speaker 3: the cockpit rig.

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Speaker 1: Yeah, So it's switched motion and it's basically replacing the

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Speaker 1: traditional simulators, which is around it's around twenty times cheaper

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Speaker 1: than what.

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Speaker 5: Was there before.

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Speaker 1: That allows us to provide at much more spaces training

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Speaker 1: to make it avaiable to address the pilot shortage and

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Speaker 1: kind of like a really nice possibility because it's a

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Speaker 1: much smaller foodprint.

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Speaker 3: Caroline, what's so interesting about this technology is it's already

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Speaker 3: certified in Europe by the European regulator. In the US,

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Speaker 3: this is not full certification.

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Speaker 2: And to that point, Faby, how many of you therefore

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Speaker 2: sold in Europe already?

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Speaker 4: Is it something that you've seen a mark shift a

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Speaker 4: faster pace of rollout.

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Speaker 1: Yeah, definitely. So last year we've qualified thirteen units in Europe,

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Speaker 1: because in Europe you have to qualify each single device,

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Speaker 1: and it's really taking off now pilots are doing training

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Speaker 1: and not only training but also checking on those units,

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Speaker 1: and it's going up more and more. Kind of the

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Speaker 1: really really taking off and now expanding to US. I mean,

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Speaker 1: we are really happy that FA is also looking in

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Speaker 1: at new technology so that you can pave the way

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Speaker 1: to qualify that as well and make this available in US.

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Speaker 4: Taking off a few puns going on there, Faby, I'm

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Speaker 4: interested in what and how are.

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Speaker 2: They taking off? Is it all about helicopters.

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Speaker 4: I'm immediately thinking about the new areas of technology, the

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Speaker 4: fact that we'll be having well vertical takeoff at some point,

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Speaker 4: we hope.

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Speaker 1: One. I mean, the reason we went first for the

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Speaker 1: helicopter is there was a need in the market because

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Speaker 1: I mean there are a lot of safety issues. I mean,

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Speaker 1: many things you cannot do on a real helicopter, and

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Speaker 1: there were simply no units are able to train in

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Speaker 1: a realistic manner. So this is kind of like one reason.

441
00:24:00,400 --> 00:24:03,120
Speaker 1: The second reason is helicopter is way far more difficult

442
00:24:03,359 --> 00:24:06,399
Speaker 1: to simulate. So we've taken this as the higher benchmark

443
00:24:06,760 --> 00:24:10,520
Speaker 1: and now going also into the fixed wing market as well,

444
00:24:10,880 --> 00:24:15,040
Speaker 1: perfect mixture the ev tools am O, where we also

445
00:24:15,080 --> 00:24:19,320
Speaker 1: have the technology already which is in Europe already qualified.

446
00:24:20,320 --> 00:24:24,600
Speaker 3: Faby, what is the technological advantage or superiority of your

447
00:24:24,640 --> 00:24:28,119
Speaker 3: headset relative to what Meta is doing with the quest

448
00:24:28,200 --> 00:24:29,680
Speaker 3: or even Apple with the Vision Pro.

449
00:24:31,520 --> 00:24:32,600
Speaker 5: It's a very good question.

450
00:24:33,000 --> 00:24:35,480
Speaker 1: So what the thing is, I mean, at the end,

451
00:24:35,600 --> 00:24:39,359
Speaker 1: we are not building our own hatset. The key thing

452
00:24:39,480 --> 00:24:41,439
Speaker 1: is kind of like to use what's it there on

453
00:24:41,480 --> 00:24:45,399
Speaker 1: the market. The challenge is to qualify it because you know,

454
00:24:45,920 --> 00:24:48,960
Speaker 1: having a hadset on, you don't see your hands, how

455
00:24:49,000 --> 00:24:51,000
Speaker 1: do you operate the cockpit? So we had to do

456
00:24:51,240 --> 00:24:54,320
Speaker 1: very very special technology there. How can you prove to

457
00:24:54,359 --> 00:24:58,399
Speaker 1: the authority, to the aviation authority that everything is still

458
00:24:58,760 --> 00:25:00,840
Speaker 1: without any gimetric stalls and so on.

459
00:25:00,880 --> 00:25:01,520
Speaker 5: So there is a.

460
00:25:01,440 --> 00:25:03,560
Speaker 1: Lot of work and a lot of details to be

461
00:25:03,680 --> 00:25:06,800
Speaker 1: done that at the end the pilot can make use

462
00:25:06,800 --> 00:25:10,439
Speaker 1: of the full emersion plus feels like in the real aircraft.

463
00:25:11,400 --> 00:25:14,520
Speaker 5: Okay, so who is building the headset for you?

464
00:25:16,760 --> 00:25:19,560
Speaker 1: Basically we are quite a headset agnostic right now. We

465
00:25:19,600 --> 00:25:23,399
Speaker 1: are using the bario headset. It is the one having

466
00:25:23,440 --> 00:25:26,720
Speaker 1: the resolution which is required from an authority point of view.

467
00:25:27,359 --> 00:25:32,120
Speaker 1: With our own modified IG that we basically can meet

468
00:25:32,200 --> 00:25:35,879
Speaker 1: the regulation specification. So from that point of view, it

469
00:25:36,000 --> 00:25:41,600
Speaker 1: is just kind of like let's say, a visual thing,

470
00:25:42,119 --> 00:25:45,000
Speaker 1: a visual device we are using there, but with the

471
00:25:45,040 --> 00:25:49,080
Speaker 1: advantage of having the three dimensional view and then combining

472
00:25:49,200 --> 00:25:52,680
Speaker 1: with a lot of technology that the person sees him

473
00:25:52,800 --> 00:25:57,920
Speaker 1: or herself as a pilot doing the operation, finding the buttons,

474
00:25:58,000 --> 00:25:59,600
Speaker 1: touchscreens and can operate them.

475
00:26:00,240 --> 00:26:03,000
Speaker 4: I want to understand the supply demand dynamics here at

476
00:26:03,000 --> 00:26:07,640
Speaker 4: the moment, FABI, how much your headsets really needed at

477
00:26:07,640 --> 00:26:10,119
Speaker 4: this moment? How much are we seeing? We know that

478
00:26:10,160 --> 00:26:12,359
Speaker 4: there's strike action among philots. We know that there's an

479
00:26:12,480 --> 00:26:14,760
Speaker 4: issue in terms of supply side, can you rectify that?

480
00:26:17,320 --> 00:26:22,200
Speaker 1: Yeah, So I mean let me quickly talk to very

481
00:26:22,240 --> 00:26:26,600
Speaker 1: specific narrow market varia right now already started. So every

482
00:26:26,680 --> 00:26:30,280
Speaker 1: helicopter pilot has to do all six months an operational

483
00:26:30,280 --> 00:26:34,080
Speaker 1: proficiency check, which has been normally done on the real aircraft,

484
00:26:34,320 --> 00:26:38,280
Speaker 1: very dangerous doing malfunctions and so on. So actually one

485
00:26:38,400 --> 00:26:42,040
Speaker 1: thhirt twenty percent to one third of the accidents are

486
00:26:42,080 --> 00:26:46,520
Speaker 1: happening whilst doing training and checking. So the heads now

487
00:26:46,680 --> 00:26:50,960
Speaker 1: all moved completely to the CIM. So it's per per

488
00:26:51,040 --> 00:26:56,560
Speaker 1: pilot which is already having the license, it is a

489
00:26:56,600 --> 00:26:59,960
Speaker 1: two to four hours per year then doing additional safety training,

490
00:27:00,040 --> 00:27:02,480
Speaker 1: so it's kind of like about eight hours per pilot.

491
00:27:02,960 --> 00:27:05,720
Speaker 1: That's that's one very very small area than in the

492
00:27:05,920 --> 00:27:08,639
Speaker 1: basic training like you as you know, like in US

493
00:27:08,920 --> 00:27:13,320
Speaker 1: for the for the airliner training, there are thousand and

494
00:27:13,320 --> 00:27:15,320
Speaker 1: five hundred dollars which needs to be done. So up

495
00:27:15,280 --> 00:27:17,159
Speaker 1: to a hundred dollars already now can be done on

496
00:27:17,240 --> 00:27:20,160
Speaker 1: a simulator type.

497
00:27:20,440 --> 00:27:24,880
Speaker 4: Of course, simulations and all this technology. And it costs money, right.

498
00:27:25,359 --> 00:27:27,640
Speaker 3: Yeah, it costs money, and I guess fably the next

499
00:27:27,720 --> 00:27:30,320
Speaker 3: question is do you need to raise more money soon

500
00:27:30,440 --> 00:27:31,399
Speaker 3: to fund your growth?

501
00:27:33,600 --> 00:27:35,960
Speaker 1: Right now, we are in a very very good position

502
00:27:36,320 --> 00:27:40,240
Speaker 1: that we already have customers and it continually get further customers,

503
00:27:40,240 --> 00:27:41,080
Speaker 1: so a good.

504
00:27:40,920 --> 00:27:43,400
Speaker 5: Network growth is there, they will tell us.

505
00:27:43,880 --> 00:27:47,439
Speaker 1: Depending on how fast it's now taking off in us,

506
00:27:47,720 --> 00:27:50,560
Speaker 1: we really need to scale as fast as fast as

507
00:27:50,560 --> 00:27:54,840
Speaker 1: we can, so we we look forward how we get

508
00:27:55,880 --> 00:27:57,040
Speaker 1: through that journey.

509
00:27:57,720 --> 00:27:58,760
Speaker 2: So it's pracked, I'm sure.

510
00:27:58,880 --> 00:28:01,960
Speaker 4: Loft Dynamics CEO reason, thanks so much for joining us

511
00:28:02,080 --> 00:28:04,520
Speaker 4: on your journey. Meanwhile, a story that we're going to

512
00:28:04,560 --> 00:28:06,560
Speaker 4: continue to watch for you. The co founder and former

513
00:28:06,600 --> 00:28:10,520
Speaker 4: COO of Altice, Mando Pereira, has been detained for questioning

514
00:28:10,600 --> 00:28:13,600
Speaker 4: in Portugal as part of a sweeping investigation into alleged corruption.

515
00:28:14,000 --> 00:28:16,760
Speaker 4: Last week, local authorities said three people were detain during

516
00:28:16,800 --> 00:28:19,080
Speaker 4: a series of raids of homes and offices across the

517
00:28:19,080 --> 00:28:23,280
Speaker 4: country related to a three year investigation into corruption, tax ford, forgery,

518
00:28:23,400 --> 00:28:27,040
Speaker 4: money laundering. Parrera co founded Ltias Group with Patrick Drahi

519
00:28:27,119 --> 00:28:29,679
Speaker 4: of course a well known name, and Bruno Moneville in

520
00:28:29,720 --> 00:28:32,680
Speaker 4: two thousand and two. He no longer holds executive roles

521
00:28:32,720 --> 00:28:35,919
Speaker 4: at that company. We are coming up, we are talking

522
00:28:36,000 --> 00:28:40,920
Speaker 4: pre seed startups, female entrepreneurship with Chingona Adventures founder partner

523
00:28:41,080 --> 00:28:42,120
Speaker 4: Samara Hernandez.

524
00:28:42,600 --> 00:28:43,880
Speaker 2: This is the Bloomberg.

525
00:28:52,520 --> 00:28:56,640
Speaker 4: Higona Ventures Wow one three years old, already Chicago based

526
00:28:56,680 --> 00:28:59,440
Speaker 4: venture capital firm investing in pre seeds startups, creating businesses

527
00:28:59,520 --> 00:29:03,320
Speaker 4: and not looked growth markets. Last year, the VC closed

528
00:29:03,360 --> 00:29:05,880
Speaker 4: a new fund fifty two million dollars in capital from

529
00:29:05,880 --> 00:29:09,960
Speaker 4: partners like PayPal, always Melinda Gates's Pivotal Ventures to go

530
00:29:09,960 --> 00:29:11,440
Speaker 4: on a ventures found in partner and whous to say?

531
00:29:11,440 --> 00:29:13,160
Speaker 2: Samara Henandez therefore joins us.

532
00:29:13,080 --> 00:29:15,360
Speaker 4: To talk about how this money is being allocated in

533
00:29:15,440 --> 00:29:19,400
Speaker 4: this current environment tomorrow, how are you looking to keep

534
00:29:19,520 --> 00:29:23,400
Speaker 4: finding the right companies to back despite the economic headwinds.

535
00:29:24,920 --> 00:29:28,680
Speaker 11: Now, these companies have built in many different environments. A

536
00:29:28,760 --> 00:29:30,680
Speaker 11: lot of these founders have never been able to get

537
00:29:30,800 --> 00:29:33,840
Speaker 11: venture capital funding. They've always had to get revenue from

538
00:29:33,840 --> 00:29:34,400
Speaker 11: their customers.

539
00:29:34,520 --> 00:29:35,040
Speaker 2: Very early on.

540
00:29:35,680 --> 00:29:38,720
Speaker 11: They haven't been in the traditional markets in Silicon Valley.

541
00:29:38,760 --> 00:29:41,800
Speaker 11: They don't come from family wealth, they don't typically come

542
00:29:41,840 --> 00:29:44,600
Speaker 11: from Ivy League schools, and so we've seen a lot

543
00:29:44,640 --> 00:29:47,600
Speaker 11: of them have to just get revenue from their customers,

544
00:29:47,640 --> 00:29:51,400
Speaker 11: get revenue and other sources and so for us, I

545
00:29:51,480 --> 00:29:53,920
Speaker 11: do believe this is their time to shine, and this

546
00:29:54,080 --> 00:29:57,640
Speaker 11: is a great opportunity to really highlight the startups. They're

547
00:29:57,680 --> 00:30:00,600
Speaker 11: going to succeed in all markets, but particularly this market.

548
00:30:01,000 --> 00:30:03,480
Speaker 4: It feels like, grant me if I'm wrong, given that

549
00:30:03,520 --> 00:30:05,600
Speaker 4: you've been out there looking at these sort of smaller

550
00:30:05,680 --> 00:30:07,360
Speaker 4: prec companies since twenty nineteen.

551
00:30:08,640 --> 00:30:10,360
Speaker 2: Is it busier in that space now.

552
00:30:10,480 --> 00:30:12,680
Speaker 4: Given that some of the bigger funds of perhaps I

553
00:30:12,760 --> 00:30:15,920
Speaker 4: wanted to write such enormous checks in this current space.

554
00:30:17,680 --> 00:30:19,120
Speaker 2: Yes, it's always busy.

555
00:30:19,200 --> 00:30:21,320
Speaker 11: I think in this market it has been particularly busy

556
00:30:21,520 --> 00:30:24,160
Speaker 11: just because there has been a slowdown in the growth market.

557
00:30:24,440 --> 00:30:29,280
Speaker 11: Investors and IPOs, A lot of early stage companies are

558
00:30:29,320 --> 00:30:32,680
Speaker 11: raising more capital pre series A and so we've seen

559
00:30:32,720 --> 00:30:36,080
Speaker 11: a lot more bridge rounds and pre series A companies

560
00:30:36,160 --> 00:30:39,520
Speaker 11: come to us. So it is definitely busier. But I

561
00:30:39,600 --> 00:30:42,480
Speaker 11: will say it's a correction that needed to happen. The

562
00:30:42,600 --> 00:30:45,120
Speaker 11: last two years were an anomaly. I've been doing this

563
00:30:45,200 --> 00:30:47,480
Speaker 11: for eight years now, and so it's nice to get

564
00:30:47,560 --> 00:30:52,000
Speaker 11: back to real fundamentals, real revenue. And yeah, I would

565
00:30:52,000 --> 00:30:52,920
Speaker 11: say it's busier than ever.

566
00:30:54,400 --> 00:30:58,160
Speaker 3: Smart What are the main factors when you're sitting in

567
00:30:58,200 --> 00:31:01,840
Speaker 3: front of a founder thinking about investing in the precede

568
00:31:01,920 --> 00:31:03,560
Speaker 3: stage about how you write a.

569
00:31:04,000 --> 00:31:08,080
Speaker 11: Check, yeah, and where many times pre product, pre revenue,

570
00:31:08,120 --> 00:31:10,360
Speaker 11: pre name, and so early on, a lot of it

571
00:31:10,480 --> 00:31:13,240
Speaker 11: is the people's side, and we look for founders that

572
00:31:13,880 --> 00:31:17,560
Speaker 11: understand these markets in a unique way. So we're not exclusive,

573
00:31:17,600 --> 00:31:20,560
Speaker 11: we're intentional about where we invest and these founders that

574
00:31:20,720 --> 00:31:24,040
Speaker 11: find these unique opportunities and markets that many see niche

575
00:31:24,400 --> 00:31:27,800
Speaker 11: that are growing and often overlooked, that where the consumer

576
00:31:27,840 --> 00:31:32,880
Speaker 11: demographic has changed, where traditional customers like Base because we

577
00:31:32,960 --> 00:31:36,280
Speaker 11: target a lot of fintech companies, they don't typically know

578
00:31:36,560 --> 00:31:40,160
Speaker 11: or understand how these certain communities work, and so these

579
00:31:40,200 --> 00:31:42,680
Speaker 11: founders come from these communities. They understand it better than

580
00:31:42,680 --> 00:31:45,760
Speaker 11: anybody else. And so we're looking for this unique factor

581
00:31:45,800 --> 00:31:50,360
Speaker 11: in these founders that understand certain markets where others haven't

582
00:31:50,400 --> 00:31:55,360
Speaker 11: even lived or choose to understand. And then very early on,

583
00:31:55,480 --> 00:31:57,719
Speaker 11: we look to see what have they done with very

584
00:31:57,760 --> 00:32:00,480
Speaker 11: little raise because we often are the first in titutional

585
00:32:00,560 --> 00:32:02,880
Speaker 11: check in, so we looked for a path to sales,

586
00:32:02,960 --> 00:32:06,040
Speaker 11: the path to revenue, good unit economics, a plan to

587
00:32:06,120 --> 00:32:08,880
Speaker 11: get there, and that is now something that a lot

588
00:32:08,880 --> 00:32:12,280
Speaker 11: of people are looking at. But the last two years

589
00:32:12,320 --> 00:32:14,080
Speaker 11: that wasn't something that you know, a lot of people

590
00:32:14,240 --> 00:32:16,120
Speaker 11: kind of looked at. It was a lot more momentum driven.

591
00:32:17,040 --> 00:32:19,720
Speaker 3: Hey, somorrow, what's going on now in Chicago where you

592
00:32:19,880 --> 00:32:21,640
Speaker 3: are in the free seed environment.

593
00:32:21,640 --> 00:32:22,640
Speaker 5: A lot of deals happening.

594
00:32:24,040 --> 00:32:27,520
Speaker 11: Yes, so Chicago is a great market to be and

595
00:32:27,560 --> 00:32:31,280
Speaker 11: it's in the Midwest. There's a lot more newer funds

596
00:32:31,360 --> 00:32:33,920
Speaker 11: coming to market there. When I started the firm, there

597
00:32:34,000 --> 00:32:37,560
Speaker 11: was very little angel money or pre seed, and we

598
00:32:38,840 --> 00:32:41,200
Speaker 11: are growing. There's a lot more funds coming to market.

599
00:32:41,520 --> 00:32:43,760
Speaker 11: As a matter of fact, my largest investor at Illinois

600
00:32:43,760 --> 00:32:46,280
Speaker 11: Growth and Innovation Fund was the reason why we're here.

601
00:32:46,480 --> 00:32:49,840
Speaker 11: They're investing in a lot of new VC funds like

602
00:32:50,000 --> 00:32:54,160
Speaker 11: ours that come from you know, not traditional kind of

603
00:32:54,280 --> 00:32:57,800
Speaker 11: VC backgrounds typically, or are looking at new markets in

604
00:32:57,840 --> 00:33:00,880
Speaker 11: a different way and they are to be the first

605
00:33:00,960 --> 00:33:03,960
Speaker 11: check in and double down on investors like us. They

606
00:33:04,040 --> 00:33:06,640
Speaker 11: can see a different space and can drive offer.

607
00:33:07,240 --> 00:33:09,719
Speaker 4: You of course, had six years of Goldman, you went

608
00:33:09,760 --> 00:33:12,960
Speaker 4: to Math Venture Partners. You've been tried and tested in

609
00:33:13,040 --> 00:33:15,960
Speaker 4: the venture space before forming Jingona, and you've written a

610
00:33:15,960 --> 00:33:18,760
Speaker 4: lot of checks. You're also, of course trying to build

611
00:33:18,880 --> 00:33:24,880
Speaker 4: that diversification by allocating to Latino LATINX founders in particular

612
00:33:25,040 --> 00:33:27,600
Speaker 4: that maybe have gone overlooked. Are they're getting more overlooked

613
00:33:27,880 --> 00:33:30,440
Speaker 4: in this environment? Is people sort of reverted normed, tried

614
00:33:30,480 --> 00:33:31,360
Speaker 4: and tested founders.

615
00:33:32,800 --> 00:33:35,200
Speaker 11: Yeah, it's a tough market for all founders, but yes,

616
00:33:35,240 --> 00:33:38,840
Speaker 11: I would say particularly women and minorities. It's been hard.

617
00:33:39,360 --> 00:33:42,520
Speaker 11: It's never been easy, but it's particularly harder now. And

618
00:33:42,760 --> 00:33:45,080
Speaker 11: the way we think about it is, you know, we're

619
00:33:45,160 --> 00:33:49,200
Speaker 11: looking at markets for returns first and foremost. I'm Latina,

620
00:33:49,520 --> 00:33:51,640
Speaker 11: you know, we represent less than one percent of all

621
00:33:51,720 --> 00:33:54,520
Speaker 11: venture capital partners in the United States. I'm an immigrant

622
00:33:54,560 --> 00:33:58,240
Speaker 11: to this country, grew up in a low income environment,

623
00:33:58,560 --> 00:34:02,760
Speaker 11: and that is our superpower. It's our unique edge to

624
00:34:02,880 --> 00:34:06,000
Speaker 11: identify these opportunities and businesses that came to the ninety

625
00:34:06,040 --> 00:34:08,640
Speaker 11: nine percent of the population right where it's great to

626
00:34:08,680 --> 00:34:11,279
Speaker 11: get food faster as part of your business. But there's

627
00:34:11,360 --> 00:34:16,440
Speaker 11: so many opportunities for women's health, for certain communities that

628
00:34:16,920 --> 00:34:20,120
Speaker 11: are creating wealth in a very different way. And people

629
00:34:20,160 --> 00:34:22,920
Speaker 11: still think we're niche, you know, and you know the

630
00:34:23,160 --> 00:34:25,640
Speaker 11: numbers that we have one out of every four kids

631
00:34:25,680 --> 00:34:28,840
Speaker 11: being born today is Latino. We are getting higher education

632
00:34:29,040 --> 00:34:31,600
Speaker 11: better than their previous generations. We have one of the

633
00:34:31,680 --> 00:34:35,839
Speaker 11: highest GDP's to be able to spend money, and people

634
00:34:35,880 --> 00:34:37,440
Speaker 11: don't know how to target us, and so for us,

635
00:34:37,520 --> 00:34:39,600
Speaker 11: we see that as the first and foremost an opportunity

636
00:34:39,640 --> 00:34:42,520
Speaker 11: in the market to really drive returns, but also for

637
00:34:42,760 --> 00:34:46,160
Speaker 11: us to uniquely understand these businesses where you don't have

638
00:34:46,280 --> 00:34:48,640
Speaker 11: to ask if our you know, spouse uses the product

639
00:34:48,760 --> 00:34:50,960
Speaker 11: or do research on the market. We can go in

640
00:34:51,080 --> 00:34:54,240
Speaker 11: there and you know, we oftentimes get commented by founders

641
00:34:54,320 --> 00:34:56,640
Speaker 11: that's like, wow, this is at all women team. That's

642
00:34:56,800 --> 00:34:59,640
Speaker 11: that's great, that's fantastic. And you know, again we're not exclusive.

643
00:34:59,640 --> 00:35:01,920
Speaker 11: We're in and so we can bring a lot of

644
00:35:01,960 --> 00:35:05,080
Speaker 11: different perspectives to the cap table, to the boardroom and

645
00:35:05,200 --> 00:35:08,080
Speaker 11: be able to buy at our perspective, our lived experiences

646
00:35:08,520 --> 00:35:10,440
Speaker 11: in these markets to be able to drive returns.

647
00:35:10,840 --> 00:35:11,760
Speaker 2: Here's that usp.

648
00:35:12,200 --> 00:35:15,400
Speaker 4: Thank you so much to yourn Eventures founding partner Samara Hernandez.

649
00:35:24,280 --> 00:35:28,200
Speaker 3: The video game juggernaut Roadblocks is grappling with employee demands

650
00:35:28,360 --> 00:35:32,360
Speaker 3: for more diversity, with current and former employees telling Bloomberg

651
00:35:32,440 --> 00:35:35,120
Speaker 3: that the company's efforts have not gone far enough to

652
00:35:35,200 --> 00:35:39,040
Speaker 3: address their concern. Some even say the managers discourage them

653
00:35:39,239 --> 00:35:43,200
Speaker 3: from continuing to bring up questions about diversity with higher

654
00:35:43,320 --> 00:35:45,680
Speaker 3: ups or at meetings. This is the result of the

655
00:35:45,800 --> 00:35:50,840
Speaker 3: months long investigation into the tech company by Bloomberg's Cecilia Deannastasio,

656
00:35:51,040 --> 00:35:55,000
Speaker 3: who joins US now. So sources tell us that Bazooki

657
00:35:55,320 --> 00:35:58,600
Speaker 3: has basically taking a hands off approach to diversity.

658
00:35:59,160 --> 00:35:59,880
Speaker 5: What have we learned?

659
00:36:01,400 --> 00:36:04,520
Speaker 8: We've learned according to sixteen current and former employees that

660
00:36:04,880 --> 00:36:09,040
Speaker 8: Roblocks well, the makeup of women at the company is

661
00:36:09,080 --> 00:36:13,200
Speaker 8: aligned with other gaming companies at about twenty seven percent.

662
00:36:13,320 --> 00:36:17,600
Speaker 8: Female women at the company say that diversity has not

663
00:36:17,719 --> 00:36:20,759
Speaker 8: been a priority for the company's CEO, and many have

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00:36:20,920 --> 00:36:26,040
Speaker 8: also described experiences of marginalization that they have themselves felt

665
00:36:26,680 --> 00:36:27,560
Speaker 8: working at Roblos.

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00:36:27,960 --> 00:36:30,279
Speaker 4: Okay, so the company themselves, of course have sort of

667
00:36:30,320 --> 00:36:33,320
Speaker 4: come back and said Roadblocks is deliberate in building a

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00:36:33,440 --> 00:36:36,680
Speaker 4: diverse and engaged workforce a mandate. They say that it

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00:36:36,719 --> 00:36:41,000
Speaker 4: comes directly from leadership. But that goes against your reporting.

670
00:36:41,200 --> 00:36:43,520
Speaker 4: Why do you think they haven't been deliberate in this

671
00:36:43,680 --> 00:36:47,400
Speaker 4: moment where culturally many are really trying to focus on

672
00:36:47,480 --> 00:36:50,600
Speaker 4: whether or not you are proactive or not in seeking

673
00:36:50,640 --> 00:36:52,319
Speaker 4: out diverse talent to rise to the top.

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00:36:53,239 --> 00:36:55,480
Speaker 8: Of course, so the gaming company, the gaming industry in

675
00:36:55,600 --> 00:36:59,000
Speaker 8: general has just very poor numbers when it comes to

676
00:36:59,480 --> 00:37:02,680
Speaker 8: gender parity. Half of gamers are women. This is not

677
00:37:02,800 --> 00:37:05,680
Speaker 8: reflected in the makeup of these companies, including publicly traded

678
00:37:05,719 --> 00:37:08,800
Speaker 8: companies like Roadblocks, And if you're not actively working to

679
00:37:08,880 --> 00:37:11,520
Speaker 8: boost these numbers, and especially if you're a company like

680
00:37:11,600 --> 00:37:14,600
Speaker 8: Roblocks that's empowered to pay a lot of money for

681
00:37:14,680 --> 00:37:19,040
Speaker 8: top talent, that really shows that the issue hasn't been prioritized,

682
00:37:19,080 --> 00:37:22,920
Speaker 8: particularly if your companies existed for about twenty years. A

683
00:37:23,000 --> 00:37:24,920
Speaker 8: lot of these gaming companies take an approach that they

684
00:37:24,960 --> 00:37:28,360
Speaker 8: describe as meritocratic, where the best people will surface to

685
00:37:28,400 --> 00:37:31,800
Speaker 8: the top of the company. But sources speaking with me

686
00:37:32,000 --> 00:37:36,320
Speaker 8: to say that what looks like the best employee to

687
00:37:36,360 --> 00:37:40,160
Speaker 8: one person might not actually reflect other people's definition of

688
00:37:40,200 --> 00:37:41,040
Speaker 8: the best employee.

689
00:37:42,080 --> 00:37:44,040
Speaker 5: So see what change is the robot's going to make.

690
00:37:44,040 --> 00:37:47,919
Speaker 3: I think you reported some structural things about the HR

691
00:37:48,040 --> 00:37:49,880
Speaker 3: department that are going to happen later in the summer.

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00:37:50,960 --> 00:37:55,279
Speaker 8: Sure so, Roadblocks has hired on a Google engineer to

693
00:37:55,360 --> 00:37:58,360
Speaker 8: lead it to HR department. Roblox has made several changes

694
00:37:58,400 --> 00:38:01,600
Speaker 8: both prior to the article coming out and hopefully it

695
00:38:01,680 --> 00:38:04,800
Speaker 8: will continue making these changes in order to bruce diversity.

696
00:38:04,880 --> 00:38:06,880
Speaker 8: Over the last couple of years, where Blocks has increased

697
00:38:06,880 --> 00:38:08,880
Speaker 8: the number the percentage of women at the company as

698
00:38:08,880 --> 00:38:12,200
Speaker 8: it's grown, it's increased the percentage of non white employees,

699
00:38:12,200 --> 00:38:14,320
Speaker 8: although we're not aware of exactly what the breakdown is

700
00:38:14,400 --> 00:38:16,239
Speaker 8: there when it comes to racial demographics.

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00:38:16,719 --> 00:38:19,320
Speaker 2: So, Celia, Dennis Asio, amazing piece. Thank you.

702
00:38:19,520 --> 00:38:21,600
Speaker 4: Meanwhile, in your space of gaming, we got some breaking

703
00:38:21,680 --> 00:38:24,920
Speaker 4: headlines coming thinking fast. Microsoft clear as another hurdle as

704
00:38:24,960 --> 00:38:28,680
Speaker 4: the UK Court halts the UK veto case. We understand

705
00:38:28,760 --> 00:38:31,640
Speaker 4: the move comes as a CMO, a CMA in fact,

706
00:38:32,080 --> 00:38:34,040
Speaker 4: is giving a second chance to fix these concerns.

707
00:38:34,160 --> 00:38:35,239
Speaker 2: All of this is as a UK.

708
00:38:35,320 --> 00:38:38,280
Speaker 4: Judge Ed says he will give his reasons for halting

709
00:38:38,560 --> 00:38:41,800
Speaker 4: the case later, but you know everyone's been waiting with

710
00:38:42,160 --> 00:38:42,600
Speaker 4: breath on this.

711
00:38:43,640 --> 00:38:46,440
Speaker 3: Yeah, So this is the judge giving a conditional adjournment.

712
00:38:46,640 --> 00:38:50,359
Speaker 3: And what it means is that the CMA, Microsoft Next Vision,

713
00:38:50,360 --> 00:38:52,799
Speaker 3: who were all on the same page about this going

714
00:38:52,840 --> 00:38:55,680
Speaker 3: to the Appeals tribunal, they can now go away and

715
00:38:55,800 --> 00:38:58,480
Speaker 3: work out some compromise. And as we reported last Friday,

716
00:38:59,040 --> 00:39:01,759
Speaker 3: you know sources of talent us. One option might be

717
00:39:01,880 --> 00:39:04,560
Speaker 3: to offer to sell off the UK cloud gaming rights

718
00:39:04,880 --> 00:39:07,799
Speaker 3: allow them to move forward. July eighteenth is the merger

719
00:39:07,880 --> 00:39:09,640
Speaker 3: agreement deadline. That's tomorrow.

720
00:39:10,560 --> 00:39:12,560
Speaker 2: This allows them to get their end. This allows them

721
00:39:12,600 --> 00:39:12,960
Speaker 2: to get there.

722
00:39:14,800 --> 00:39:17,279
Speaker 3: So many procedural things happening in the UK. The fact

723
00:39:17,320 --> 00:39:20,520
Speaker 3: that the CMA allowed them to go to tribunals try

724
00:39:20,560 --> 00:39:23,280
Speaker 3: and work it out in the first place was a surprise.

725
00:39:23,400 --> 00:39:23,919
Speaker 5: So who knows.

726
00:39:24,200 --> 00:39:27,680
Speaker 4: As we see Activision Blizzard extending its own gains in

727
00:39:27,760 --> 00:39:30,879
Speaker 4: terms of share price, we're at a session high. Those

728
00:39:31,040 --> 00:39:33,800
Speaker 4: arms and those investors, they like the news. Meanwhile, that

729
00:39:33,960 --> 00:39:36,759
Speaker 4: does it for this edition of Bloomberg Technology. But we're

730
00:39:36,760 --> 00:39:39,000
Speaker 4: going to keep a close eye on this Activision.

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Speaker 3: News en Yeah, crunch time Big twenty four hours, don't

732
00:39:41,760 --> 00:39:42,920
Speaker 3: forget so much to recap.

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Speaker 5: We have the podcast. You can find it wherever you

734
00:39:45,160 --> 00:39:45,560
Speaker 5: get your.

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00:39:45,480 --> 00:39:50,400
Speaker 3: Podcast Bloomberg platforms, as well as on Apple, Spotify, and iHeartRadio.

736
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Speaker 3: From here in San Francisco, out in New York City,

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00:39:53,800 --> 00:39:56,040
Speaker 3: this is Bloomberg Technology