WEBVTT - Trump's Indictment and Accenture's Generative AI Outlook 0:00:01.400 --> 0:00:04.840 From the herd of where Innovation, Money and Power Colne 0:00:05.000 --> 0:00:09.719 in Silicon Vallet, NBR. This is Bloomberg Technology with Caroline 0:00:09.760 --> 0:00:27.480 Hide and Ed Ludlow. I'm Ed Ludlow in San Francisco. 0:00:27.560 --> 0:00:31.120 Caroline Hide off. This week this is Bloomberg Technology. Coming up, 0:00:31.160 --> 0:00:34.159 We'll bring you the latest headlines on the Trump indictment 0:00:34.240 --> 0:00:38.280 and break down the broader social media implications. We'll speak 0:00:38.320 --> 0:00:41.120 also to the head of Accenture's technology group for their 0:00:41.120 --> 0:00:45.080 outlook on generative AI as industry heavyweights call for a 0:00:45.120 --> 0:00:49.519 pause in developing the disruptive technology. Plus Huawei posting its 0:00:49.520 --> 0:00:53.040 first profit drop in a decade as US sanctions forced 0:00:53.080 --> 0:00:55.200 the China tech giant to invest in R and D. 0:00:55.320 --> 0:00:59.320 We discuss with Huawei chief security officer Andy Purdy. Let's 0:00:59.320 --> 0:01:01.720 bring you these markets when it comes to the technology sector. 0:01:01.800 --> 0:01:04.520 In the last day of what's been a constructive quarter. 0:01:04.560 --> 0:01:06.759 You look at the NAZAC one hundred by a percentage 0:01:06.760 --> 0:01:10.200 point ending this quarter higher, best quarter back since the 0:01:10.240 --> 0:01:13.560 second quarter of twenty twenty, second best quarter of the decade. 0:01:13.600 --> 0:01:16.000 Similar performance in the semiconductors. You look at the SOX, 0:01:16.120 --> 0:01:19.479 the Philadelphia Semiconductor Index Okay, four tenths of a percent higher, 0:01:19.480 --> 0:01:22.360 but actually again the best quarter for that index going 0:01:22.400 --> 0:01:25.319 back to June of twenty twenty, yield kind of pulling 0:01:25.360 --> 0:01:26.959 back a little bit three point five percent on the 0:01:26.959 --> 0:01:30.280 ten year risk on generally speaking, in bitcoin is certainly 0:01:30.480 --> 0:01:33.280 a part of that story. The main headlines are around 0:01:33.480 --> 0:01:36.440 former President Trump and his indictment, how that's playing out 0:01:36.440 --> 0:01:39.080 in the tech sector and in the equity markets. These 0:01:39.120 --> 0:01:43.040 are special purpose acquisition companies or spacks. Digital World up 0:01:43.040 --> 0:01:44.959 six and a half percent. This is the spack that's 0:01:45.040 --> 0:01:48.320 due to take true social public The idea here that 0:01:48.320 --> 0:01:51.360 the market's talking about is that the indictment of former 0:01:51.400 --> 0:01:55.560 President Trump puts a spotlight on more conservative social media platforms. 0:01:55.680 --> 0:01:59.960 Those more conservative social media platforms, including Rumble, for example, 0:02:00.040 --> 0:02:02.960 a video platform, are seeing money flowing to them in 0:02:03.000 --> 0:02:06.000 the equity markets this Friday. Let's get the specifics of 0:02:06.080 --> 0:02:09.799 what's happening from Laura Davison out in Washington, DC. Laura, 0:02:09.880 --> 0:02:14.160 where do we stand with the indictment of former President Trump. Well, 0:02:14.200 --> 0:02:16.760 he could be arraigned as soon as Tuesday of next week. 0:02:17.000 --> 0:02:18.680 You know, this is something that you know, people have 0:02:18.720 --> 0:02:20.920 been waiting for ever since Trump said recently that he 0:02:20.960 --> 0:02:24.359 could be arrested. But this, really, this announcement yesterday really 0:02:24.360 --> 0:02:27.840 took everyone by surprise, including trumpsall and lawyers, who weren't 0:02:27.880 --> 0:02:31.080 really expecting this to come and and certainly not expecting 0:02:31.120 --> 0:02:32.960 an arraignment next week. But you know, this is going 0:02:33.000 --> 0:02:35.760 to look very similar to any other type of arraignment 0:02:35.760 --> 0:02:37.160 that would happen in New York. Trump is going to 0:02:37.200 --> 0:02:39.920 have to get fingerprinted, to have his mugshot take and 0:02:39.960 --> 0:02:45.040 have to sit in the basement of the courthouse in Manhattan. Laura, 0:02:45.240 --> 0:02:47.360 have we heard from former President Trump on any of 0:02:47.360 --> 0:02:52.240 these platforms. Yes, he's been on true social really you know, 0:02:52.320 --> 0:02:54.680 going you know, a full force as he has known for, 0:02:54.760 --> 0:02:57.880 you know, his really bombastic language. In some cases. You know, 0:02:58.120 --> 0:03:00.640 some have suggested that he's almost seen mainly trying to 0:03:00.639 --> 0:03:02.840 start a riot, saying that we protest in the streets. 0:03:03.000 --> 0:03:06.480 There's increased security in Manhattan. This could really potentially be 0:03:06.560 --> 0:03:08.160 a problem for Trump. You know, it would not be 0:03:08.240 --> 0:03:10.720 unprecedented for judges to say that he can't go to 0:03:10.760 --> 0:03:14.640 social media platforms to try to incite violence or anything else. 0:03:15.480 --> 0:03:18.120 Blombosloy Davison out of DC, thank you. Let's stick with 0:03:18.160 --> 0:03:22.440 the conversation and more on Trump's influence throughout social media accounts. 0:03:22.520 --> 0:03:27.920 Jennifer Greigel, Syracuse University Assistant Professor of Communications. We started 0:03:27.919 --> 0:03:32.480 this program talking about investors buying in two stocks related 0:03:32.520 --> 0:03:36.360 to more conservative social media platforms. What's your interpretation of 0:03:36.400 --> 0:03:41.160 that reaction. Well, if we can look at history for 0:03:41.200 --> 0:03:44.120 a second, Trump wouldn't be the first ex president to 0:03:44.400 --> 0:03:46.880 the face of trial. We had Roosevelt actually here in 0:03:47.400 --> 0:03:50.640 Syracuse and back in the day early nineteen hundred and 0:03:50.640 --> 0:03:54.960 it true an intense media spectacle. Okay, So I don't 0:03:54.960 --> 0:03:58.960 know if people are focusing on these, you know, fringe platforms. 0:03:59.000 --> 0:04:01.680 I think they're missing the point that the people aren't 0:04:01.680 --> 0:04:03.920 just going to be talking about this and following this 0:04:04.040 --> 0:04:07.640 on social media. There will be legitimate media's interest. They'll 0:04:07.680 --> 0:04:10.720 want to read the news. So this could bring a 0:04:10.760 --> 0:04:14.280 spectacle like you would see with the OJ Simpson and 0:04:14.360 --> 0:04:16.600 things like that. Right, So, I think Trump knows how 0:04:16.600 --> 0:04:20.120 to manipulate the media too, and all eyes will be 0:04:20.160 --> 0:04:24.200 on that trial. It's if it reaches that point. Jennifer's 0:04:24.240 --> 0:04:27.400 point out, what is a first right a first former 0:04:27.480 --> 0:04:30.880 president to be indicted? But I hear your point on 0:04:30.920 --> 0:04:35.440 the news cycle. Twitter wants to be the place where 0:04:35.440 --> 0:04:38.280 the new cycle plays out. Do you think that's why 0:04:38.560 --> 0:04:41.680 it used to be? It used to be the place 0:04:41.839 --> 0:04:44.640 more where the news cycle, yeah, played out. But you know, 0:04:44.680 --> 0:04:49.279 I still think that that the platform is fundamentally changed 0:04:49.320 --> 0:04:52.039 since Must took it over. You still don't have the 0:04:52.080 --> 0:04:55.039 same type of user base there that used to see 0:04:55.080 --> 0:04:58.760 a lot of academics and journal as. Sure some people 0:04:58.800 --> 0:05:00.599 are out there still, but not like he used to. 0:05:00.800 --> 0:05:05.200 So people may follow more of the details, you know, 0:05:05.240 --> 0:05:08.320 almost like a reality TV show there, But I don't 0:05:08.360 --> 0:05:13.359 think the same types of influential media folks are on 0:05:13.400 --> 0:05:18.680 Twitter like they used to be. How strong a landscape 0:05:19.080 --> 0:05:21.920 two conservative voices have in social media right now? How 0:05:21.920 --> 0:05:26.400 strong are those conservative specific platforms. I think we need 0:05:26.480 --> 0:05:29.520 to look at it more collectively as those who are 0:05:29.520 --> 0:05:31.520 in power. I know there's a lot of attention on 0:05:31.720 --> 0:05:34.560 you know, what, is Trump trying to cause a riot, 0:05:34.600 --> 0:05:37.920 but he's also an ex president. I think we need 0:05:37.960 --> 0:05:41.479 to focus a lot more on the sitting president, on 0:05:41.560 --> 0:05:45.800 those in Congress, and again that crosses political parties, right 0:05:45.839 --> 0:05:50.200 and looking at the influence that they're exerting. Now. It's 0:05:50.240 --> 0:05:53.159 not just like is their voice being amplified more on 0:05:53.200 --> 0:05:56.320 this platform or that. But look at what's happening with 0:05:56.360 --> 0:06:01.799 TikTok okay in the ability to influence a potentially shutter 0:06:01.920 --> 0:06:03.880 that app here in the United States, and that is 0:06:04.600 --> 0:06:08.159 monumental and we are really not talking about that enough. 0:06:08.240 --> 0:06:11.640 So that's that's influence, and it cuts across you know, 0:06:11.720 --> 0:06:16.560 conservative to you know, right left. It's a collaborative effort 0:06:16.600 --> 0:06:18.280 as I see it right now between the White House 0:06:18.320 --> 0:06:20.560 hand Congress. So I'd be focused more on that if 0:06:20.560 --> 0:06:25.760 I was looking at investments, Jennifer. Have the risks to 0:06:25.920 --> 0:06:29.680 social media and use of social media changed since Trump 0:06:29.760 --> 0:06:35.080 left office? Yeah? I think again nothing has really changed 0:06:35.720 --> 0:06:40.560 when it comes to how presidents are using social If anything, 0:06:40.640 --> 0:06:44.360 you know, maybe they're exerting more influence on regulation and 0:06:44.960 --> 0:06:47.440 the ability to maybe shutter apps as I mentioned before. 0:06:47.480 --> 0:06:49.760 But like we have to keep in mind that censorship 0:06:49.760 --> 0:06:53.080 will look different here in the United States, and also 0:06:53.279 --> 0:06:56.919 just the increasing use of government social media. I just 0:06:57.000 --> 0:07:00.280 think that we need to to really address that as 0:07:00.279 --> 0:07:01.920 a country, not just here in the United States but 0:07:02.040 --> 0:07:06.040 around the world. So for me, it's a public We 0:07:06.080 --> 0:07:09.679 really want these platforms and our media environment to function 0:07:09.720 --> 0:07:14.400 and be safe regardless of po's in power. And and 0:07:14.600 --> 0:07:17.360 I really don't think that that risk has gone away 0:07:17.440 --> 0:07:21.360 under Biden or potentially future presidents, regardless of their party. 0:07:21.480 --> 0:07:24.320 So maybe some people are comfortable with, you know, kind 0:07:24.320 --> 0:07:27.920 of democrats steering some of the policy around social media 0:07:28.000 --> 0:07:29.800 right now, but we have to remember that they may 0:07:29.800 --> 0:07:32.720 not always be in power. So you really want your 0:07:32.760 --> 0:07:36.280 social media platforms, your media environment to be a healthy 0:07:36.320 --> 0:07:39.800 one that is just good for the public, good for discourse, 0:07:39.880 --> 0:07:43.880 good for democracy. And still I still see that that's 0:07:43.960 --> 0:07:49.000 right here today, Professor Jennifer Geigel of Syracuse, thank you 0:07:49.440 --> 0:07:52.680 for your time. Now. Sticking with social media, TikTok isn't 0:07:52.680 --> 0:07:55.880 the only social media company under bike Dance that's gone viral. 0:07:56.120 --> 0:07:59.720 US downloads of Lemonade are surging. It's a content sharing 0:07:59.720 --> 0:08:03.280 plat form similar to TikTok, but focusing on longer form 0:08:03.400 --> 0:08:06.400 lifestyle videos. Think of it as a mix of Instagram 0:08:06.440 --> 0:08:10.400 and Pinterest, but information about the app is murky. However, 0:08:10.520 --> 0:08:13.840 regulatory filings and various media reports suggest it is owned 0:08:13.840 --> 0:08:17.240 by Bike Dance. Eliminates ties with the Chinese company may 0:08:17.320 --> 0:08:20.920 expose it to similar scrutiny faced by the TikTok in 0:08:20.960 --> 0:08:32.480 the United States. I think there are different ways of 0:08:32.600 --> 0:08:37.600 viewing what we're asking for. I think the idea that 0:08:38.559 --> 0:08:42.120 you know, the CEOs of Microsoft and Google and deep 0:08:42.160 --> 0:08:44.720 Mind are going to read this and say, oh, sorry, yeah, 0:08:44.840 --> 0:08:48.559 you're right, we completely messed up, and we'll definitely stop 0:08:48.640 --> 0:08:53.280 right now. I don't think that's going to happen, but 0:08:54.120 --> 0:08:57.640 I hope that it at least begins a serious conversation 0:08:58.120 --> 0:09:02.920 about what would be necessary to develop systems that we 0:09:02.960 --> 0:09:07.720 can have confidence in. And there's two parts to that, right, 0:09:07.760 --> 0:09:11.240 Could we develop ways of testing the systems that we 0:09:11.280 --> 0:09:14.439 already have so that we can show that they do 0:09:14.520 --> 0:09:18.320 not present risks, that they will not help people to 0:09:18.320 --> 0:09:21.520 commit suicide and so go on, Or we change the 0:09:21.559 --> 0:09:23.680 way we design the system so that we can do that. 0:09:23.720 --> 0:09:26.760 And I actually think the latter is probably more likely. 0:09:27.679 --> 0:09:32.880 I would also say that legislators the European Union, for example, 0:09:33.559 --> 0:09:37.559 are close to passing the AI Act, which would require 0:09:37.679 --> 0:09:41.960 these kinds of steps as a matter of law, so 0:09:42.080 --> 0:09:45.400 that you could not put systems on the market unless 0:09:45.440 --> 0:09:50.840 you could satisfy the regulators that they were safe. That 0:09:50.960 --> 0:09:54.679 was Stuart Russell, Berkeley Computer Science professor an AI expern 0:09:54.720 --> 0:09:57.360 He was one of the signatories of the petition calling 0:09:57.400 --> 0:10:00.280 for a halt to AI development, and that's where I 0:10:00.280 --> 0:10:02.800 want to go more about generative AI the kinds of 0:10:02.840 --> 0:10:05.720 opportunities that it opens up in the world of technology. 0:10:05.760 --> 0:10:10.240 Paul Doughty, Excentious Technology Group, Chief executive, author of two 0:10:10.320 --> 0:10:13.680 books on the impact of AI and machine learning, particularly 0:10:13.720 --> 0:10:17.360 on jobs and work, Human Machine and his most recent one, 0:10:17.520 --> 0:10:22.560 Radically Human, How new technology is transforming business and shaping 0:10:22.920 --> 0:10:26.120 our future. Paul, welcome to the program. You heard there 0:10:26.120 --> 0:10:29.280 what Professor Russell had to say, The findings of your 0:10:29.320 --> 0:10:33.640 report about the outlook for AI contrast with what the 0:10:33.679 --> 0:10:38.280 industry is calling for right now. Yeah, I know, Stuart, Well, 0:10:38.280 --> 0:10:40.360 it's great to hear us comments. We do some work 0:10:40.360 --> 0:10:43.440 together in a deep respect for Stuart and hiss views. 0:10:44.240 --> 0:10:47.520 You know. Look, I think the open letter an AI 0:10:47.720 --> 0:10:52.160 was I think important attention to a real issue, which 0:10:52.240 --> 0:10:56.560 is getting serious dialog around the applications of AI and 0:10:56.679 --> 0:11:00.160 really responsible AI. You know, I would say that if 0:11:00.480 --> 0:11:03.400 an organization or a company is implementing AI and you 0:11:03.440 --> 0:11:08.160 don't have responsible AI policy and approach, is simply irresponsible. 0:11:08.480 --> 0:11:10.600 So I think this call to attention around how the 0:11:10.640 --> 0:11:16.280 impact the technology is having, guarding against bias, ensuring accuracy, 0:11:16.720 --> 0:11:19.600 looking at intellectual property, and all these issues are really important. 0:11:19.920 --> 0:11:22.719 But I don't think a pause is a step we need. 0:11:22.720 --> 0:11:25.000 I think what we need is more transparency and dialogue 0:11:25.080 --> 0:11:27.360 and more companies take steps you know that we've been 0:11:27.360 --> 0:11:29.840 working on for four or five years, which is actually 0:11:29.880 --> 0:11:33.800 having training policies, compliance programs and the like in our 0:11:33.840 --> 0:11:36.160 company and companies that we work with to make sure 0:11:36.280 --> 0:11:40.440 organizations aren't taking the right steps with artificial intelligence. You're 0:11:40.679 --> 0:11:44.360 plugged into hundreds, if not thousands of tech companies globally. 0:11:45.080 --> 0:11:48.640 Is a six month pause feasible? Can anyone actually make 0:11:48.679 --> 0:11:52.600 that happen? Now? I don't think it's the right You know, 0:11:52.840 --> 0:11:54.439 the pause is the right way to think about this 0:11:54.480 --> 0:11:57.800 is there's tremendous innovation and progress happening, and I think, 0:11:58.280 --> 0:12:01.959 you know, there's I think there's approaches, many approaches and 0:12:02.040 --> 0:12:04.000 plays to look at how we use the technology in 0:12:04.000 --> 0:12:06.360 the appropriate way. So I think the right thing to 0:12:06.400 --> 0:12:09.720 do is to keep is to keep the experimentation, keep 0:12:09.720 --> 0:12:12.920 the innovation going, but increase the dialogue around you know, 0:12:12.960 --> 0:12:14.480 the gardriels that we need to have some place on 0:12:14.559 --> 0:12:16.760 some of the topics that I mentioned earlier. So that's 0:12:16.760 --> 0:12:19.640 the approach we advocate. We're working you know, with many 0:12:19.760 --> 0:12:23.160 organizations around the world, including some of the ones you mentioned, 0:12:23.480 --> 0:12:25.600 on putting the right gardials in place as we move forward, 0:12:25.600 --> 0:12:28.960 but we think the innovation experimentation actually helps contribute to 0:12:29.000 --> 0:12:33.040 that dialogue. The conclusion of your report and your survey 0:12:33.800 --> 0:12:36.319 is that AI is going to spark a pretty large 0:12:36.360 --> 0:12:41.079 wave of innovation right next generation technologies. How though, how 0:12:41.080 --> 0:12:47.199 does that manifest itself? AI really unleashes kind of a 0:12:47.280 --> 0:12:50.120 next level of capability for organizations, that's the way to 0:12:50.200 --> 0:12:52.959 think about it. And we had a launch of our 0:12:53.080 --> 0:12:57.600 annual Vision Report yesterday and on the launch we heard 0:12:57.640 --> 0:12:59.880 from everything from one hundred and twenty five year old 0:13:00.040 --> 0:13:02.440 company to a twenty five year old, you know, AI 0:13:02.520 --> 0:13:06.320 startup founder about the implications that it has on business, 0:13:06.360 --> 0:13:09.720 and ninety eight percent of executives in the research that 0:13:09.760 --> 0:13:13.319 we've done talk about the fact that they're going to 0:13:13.400 --> 0:13:16.280 invest in and believe generative AI in particularly will have 0:13:16.320 --> 0:13:19.000 a big impact on their organization and the impact that 0:13:19.080 --> 0:13:21.679 it will have its allowing organizations to do new things 0:13:21.679 --> 0:13:24.880 they couldn't do before. It's new new levels of creative 0:13:24.920 --> 0:13:29.079 capability powered by the foundation models that you hear about. 0:13:29.320 --> 0:13:31.640 It's new ways for work to be done, new ways 0:13:31.679 --> 0:13:35.080 to empower people, and essentially in essence, to give workers 0:13:35.080 --> 0:13:38.120 superpowers to do new things and work. You know, it 0:13:38.200 --> 0:13:42.240 expanded things with copilot type of capability powered by genderative AI, 0:13:42.280 --> 0:13:45.000 and I think it really creates a great opportunity for 0:13:45.120 --> 0:13:48.600 individuals to use technology in a different way and for 0:13:48.679 --> 0:13:51.000 businesses to look at how they how they make these 0:13:51.320 --> 0:13:55.080 big advances and how they compete, differentiate and grow. Well, 0:13:55.160 --> 0:13:58.480 that's got someone else's view on where we are in 0:13:58.520 --> 0:14:02.160 the AI cycle. This is what the Stability AI CEO 0:14:02.240 --> 0:14:04.320 had say in the last twenty four hours. This is 0:14:04.360 --> 0:14:08.360 bigger than five G or self driving. Cause we've had 0:14:08.360 --> 0:14:11.280 others on the show that say what's happening in artificial 0:14:11.360 --> 0:14:15.400 intelligence is akin from the shift to mobile for example. 0:14:15.760 --> 0:14:21.000 You are a technologist to agree with any of those statements. Yeah, 0:14:21.080 --> 0:14:24.160 What I've said is is that I believe what we're 0:14:24.160 --> 0:14:27.680 seeing now with foundation models and large language models is 0:14:27.760 --> 0:14:30.080 one of the three biggest innovations I've seen in my 0:14:30.480 --> 0:14:34.000 multi decade career working in technology. The first was when 0:14:34.000 --> 0:14:36.880 I used one of the first browsers and saw the 0:14:36.920 --> 0:14:39.760 potential and part of the Internet. The second was when 0:14:39.800 --> 0:14:42.160 I saw it the first iPhone come out and realize 0:14:42.160 --> 0:14:44.640 the power bringing that kind of access and technology of 0:14:44.680 --> 0:14:46.920 billions of people around the world in them. When I 0:14:47.040 --> 0:14:50.080 dove in with the foundation models and large language models 0:14:50.080 --> 0:14:53.280 of the transformer technology and saw the creative power that 0:14:53.320 --> 0:14:56.720 it had and the power to allow humans workers, you know, 0:14:56.960 --> 0:14:59.560 people to interact with technology at a whole new level. 0:15:00.000 --> 0:15:03.480 I think it is that type of breakthrough. Poul Accentia, 0:15:03.720 --> 0:15:06.960 your own company is laying off nineteen thousand staff across 0:15:07.040 --> 0:15:11.320 technology mass layoffs. What is your assessment of the reasons 0:15:11.400 --> 0:15:16.920 why layoffs are happening. Well, you know, we announced you know, 0:15:17.040 --> 0:15:19.840 really record growth in our business. We had record sales 0:15:19.880 --> 0:15:22.600 and the results that we just announced, you know, thirty 0:15:22.600 --> 0:15:25.600 five you know, at one point thirty five deals of 0:15:25.640 --> 0:15:28.760 over one hundred million dollars of war around technology, driven 0:15:28.840 --> 0:15:31.480 by a lot of what's happening with companies need to 0:15:31.600 --> 0:15:37.240 reinvent faster by applying technology. So we see and we 0:15:37.320 --> 0:15:40.600 see continued robust and strowing demand for technology. What we 0:15:40.640 --> 0:15:43.920 announced was really something we do every year in terms 0:15:43.960 --> 0:15:47.480 of looking at Howard positioned with talent for the growth 0:15:47.560 --> 0:15:50.280 that we have going forward. And the only difference this 0:15:50.360 --> 0:15:52.760 time is we we took a proactive step to get 0:15:52.800 --> 0:15:54.440 fit for what we see coming. But this is you know, 0:15:54.520 --> 0:15:56.040 kind of in the realm of what we do every year. 0:15:56.320 --> 0:15:59.440 And we think, you know, the market going forward, especially 0:15:59.480 --> 0:16:04.440 with somebody's dot technology companies needing this technology to operate 0:16:04.520 --> 0:16:07.880 more resiliently in the carpulicated world that they upbreading is 0:16:07.880 --> 0:16:11.200 going to continue. Drive now to maim all right, Paul Doherty, 0:16:11.440 --> 0:16:16.240 Accentires Technology Group Chief executive, Thank you, coming up, Uber 0:16:16.440 --> 0:16:19.960 going more and more green, how it's intensifying its efforts 0:16:20.240 --> 0:16:24.280 to electrify the vehicles on its network. And now as 0:16:24.320 --> 0:16:27.200 that one hundred, we've said it best quarter going back 0:16:27.240 --> 0:16:30.920 to the second quarter of twenty twenty, actually the second 0:16:30.960 --> 0:16:34.080 best quarter of the decade for this tech heavy index. 0:16:34.720 --> 0:16:38.640 Interesting story on Bloomberg about how insiders though are some 0:16:38.720 --> 0:16:41.880 of the sellers of technology shares, certainly worth checking out. 0:16:41.920 --> 0:17:00.560 This is Bloomberg time for talking tech. Alib and JD 0:17:00.680 --> 0:17:03.560 dot Com have begun preparations for a trio of the 0:17:03.640 --> 0:17:07.360 year's biggest Chinese debuts. Ali Baba's logistics firm Kanyell has 0:17:07.440 --> 0:17:10.199 kicked off discussions with banks for what may become the 0:17:10.240 --> 0:17:13.520 first of several IPOs by units of the e commerce giant, 0:17:13.520 --> 0:17:17.400 and on Thursday, two JD subsidiaries filed for first time 0:17:17.400 --> 0:17:20.680 share sales in Hong Kong. Those three listings could raise 0:17:20.720 --> 0:17:23.720 about five billion dollars between them, according to sources and 0:17:24.040 --> 0:17:27.119 Bloomberg reporting that Tesla is looking to build a battery 0:17:27.119 --> 0:17:30.160 plant in the US, which would likely be a controversial 0:17:30.240 --> 0:17:34.520 arrangement with China's dominant electric vehicle battery maker. Tesla discussed 0:17:34.520 --> 0:17:38.760 plans involving the company CATL with White House officials over 0:17:38.800 --> 0:17:42.080 the past few days. Sources told myself and colleagues Gabby 0:17:42.119 --> 0:17:45.320 Coppola and Jen Jacobs that this has been going on 0:17:45.600 --> 0:17:47.840 for a couple of months now now. Speaking of evs, 0:17:48.280 --> 0:17:52.399 Uber also has some news as Earth Month Fast approaches. Today, 0:17:52.480 --> 0:17:55.960 BP Pols and Uber announced a new global mobility initiative. 0:17:56.080 --> 0:18:00.199 The idea get the drivers in to the stations to 0:18:00.320 --> 0:18:04.080 charge their vehicles, joining us on the program now. Adam 0:18:04.119 --> 0:18:08.520 gramis the Uber's gloable head of sustainability policy. Interesting play. 0:18:08.680 --> 0:18:12.480 Everyone wants to drive electric, Everyone wants to ride electric. 0:18:13.119 --> 0:18:15.359 Is this for the drivers or ultimately is this for 0:18:15.359 --> 0:18:19.560 the riders? Yes, good morning. First Uber wants to lead 0:18:19.800 --> 0:18:23.679 the ride share industry to an all electric, zero emission future. 0:18:23.960 --> 0:18:25.639 How are we going to do that? We made a 0:18:25.640 --> 0:18:29.080 pledge to reach one hundred percent of rides in evs 0:18:29.240 --> 0:18:32.440 and micromobility by twenty thirty in the US, Canada, and 0:18:32.520 --> 0:18:35.439 Europe and everywhere we operate globally by twenty forty. How 0:18:35.440 --> 0:18:38.240 do we do that? Working with drivers, helping them make 0:18:38.240 --> 0:18:41.159 the switch, working with consumers, make it easy, push a button, 0:18:41.600 --> 0:18:45.040 get a clean ride. And finally transparency because we need 0:18:45.040 --> 0:18:47.439 accountability and we know that we don't just earn it. 0:18:47.840 --> 0:18:51.040 This play is all about helping drivers, meeting drivers where 0:18:51.040 --> 0:18:53.720 they're at. When we talk to drivers, they say their 0:18:53.760 --> 0:18:57.480 top two concerns are the EV cost in EV charging. 0:18:57.800 --> 0:19:00.000 That's why this deal is so important. We're making deals 0:19:00.040 --> 0:19:02.720 like this with energy companies around the world. This deal 0:19:02.720 --> 0:19:05.399 with BP Pulse helps make it so that we can 0:19:05.440 --> 0:19:07.720 reach more drivers where they are in mini drivers today 0:19:07.800 --> 0:19:09.119 or at the pub. So on that point, a lot 0:19:09.160 --> 0:19:11.919 of drivers watch this program, so we ask them, what's 0:19:11.920 --> 0:19:14.240 holding you back from electrifying? These are the results. You 0:19:14.240 --> 0:19:16.560 can see them on the screen over there. Cost of 0:19:16.640 --> 0:19:20.800 evs fifty percent, respondents, lack of charging forty three percent. 0:19:21.119 --> 0:19:24.240 In San Francisco, it's pretty easy to get an electrified ride. 0:19:24.240 --> 0:19:27.720 Other cities it's not to Actually, drives need a bit 0:19:27.760 --> 0:19:31.280 more financial help than just offering the infrastructure. This corroborates 0:19:31.320 --> 0:19:34.160 with what we hear from drivers as well. These top barriers. 0:19:34.400 --> 0:19:37.080 For US, it's finding ways to leverage our marketplace, to 0:19:37.160 --> 0:19:39.679 leverage our scale, to find new ways to bring tools 0:19:39.720 --> 0:19:43.960 for drivers, supply for drivers through partnerships, and new innovations 0:19:43.960 --> 0:19:46.640 to make it easier to find the charging. For instance, 0:19:47.160 --> 0:19:51.200 just this week we expanded Comfort Electric. Comfort Electric is 0:19:51.200 --> 0:19:52.840 a push a button get an EV and not just 0:19:53.119 --> 0:19:55.920 in EV. You can get a premium EV, a Tesla, 0:19:55.960 --> 0:19:58.880 a Pulse, our Forward mark E. These are vehicles people 0:19:58.920 --> 0:20:01.440 want as evs, but there are also cars that people 0:20:01.440 --> 0:20:03.800 want to be And let's think about this blistically. What 0:20:04.000 --> 0:20:07.040 percentage of the total ride chef fleet in the US 0:20:07.160 --> 0:20:11.000 or globally is currently electric. Last year, we quadrupled the 0:20:11.080 --> 0:20:14.120 number of active drivers who are using evs on Uber 0:20:14.160 --> 0:20:16.680 in the US, Canada, and Europe to forty thousand. We're 0:20:16.680 --> 0:20:20.520 operating the largest all electric ridehail fleet outside of China. 0:20:20.800 --> 0:20:24.480 It's very exciting. In the US, we're seeing drivers switch 0:20:24.560 --> 0:20:27.879 to evs five to eight times faster than the general 0:20:27.880 --> 0:20:31.800 population if you compared to say EV registrations. And what 0:20:31.840 --> 0:20:34.159 we're seeing is that drivers on Uber in some markets 0:20:34.160 --> 0:20:36.800 like California and some markets like London are going even 0:20:36.840 --> 0:20:41.919 faster ten fifteen percent of miles served. So for this forward, 0:20:42.160 --> 0:20:44.879 I don't think any money changed hands between Uber and 0:20:44.920 --> 0:20:50.200 BP on this transaction money. What is your dollar commitment 0:20:50.280 --> 0:20:53.400 to driving this initiative. Ubers made a commitment to make 0:20:53.440 --> 0:20:56.439 eight hundred million in total resources available to drivers to 0:20:56.440 --> 0:20:57.919 help bing the switch. We talked about it at the 0:20:57.960 --> 0:21:01.960 beginning right driver's face a financial hurdle to get into evs. 0:21:02.000 --> 0:21:04.560 So we've made a commitment to eight hundred million dollars 0:21:04.600 --> 0:21:06.680 to make it available to drivers by twenty twenty five 0:21:06.720 --> 0:21:09.280 to help hundreds of thousands make the switch in the 0:21:09.359 --> 0:21:11.080 US that takes the form of a dollar trip in 0:21:11.119 --> 0:21:15.920 center from Uber. Disagreement with BP creates a global framework 0:21:16.040 --> 0:21:18.920 where we can create local besloke offerings right at meat 0:21:18.960 --> 0:21:22.919 drivers where they're at and tailor to the local market. Conditions. 0:21:23.160 --> 0:21:26.160 All right, Adam grammis Uber, global head of sustainability Policy 0:21:26.440 --> 0:21:37.560 here in San Francisco, Welcome back to Bloomberg Technology, ourmed 0:21:37.640 --> 0:21:41.399 lovelow in San Francisco. Huawei posted is first annual profit 0:21:41.480 --> 0:21:44.480 decline in more than a decade after years of US 0:21:44.560 --> 0:21:47.840 sanctions have all but obliterated the smartphone arm of the 0:21:47.880 --> 0:21:51.119 business and compelled the Chinese telecom gearmaker to wratch it 0:21:51.280 --> 0:21:54.800 up Research spending his talk about the outlook for Huawei 0:21:55.160 --> 0:21:59.560 is chief security Officer Andy Purdy. Andy, this is the 0:21:59.680 --> 0:22:05.679 direct results of US sanctions on your financials. That's right. 0:22:05.920 --> 0:22:07.840 It's great to be back on your show, and we're 0:22:08.000 --> 0:22:11.520 joining the new new time slot. Yeah. This is a 0:22:11.720 --> 0:22:15.320 major impact of the last couple of years, particularly decimating 0:22:15.320 --> 0:22:19.080 our consumer business, causing a drop of thirty billion in 0:22:19.119 --> 0:22:23.760 a year. But we are work through this. Our business 0:22:23.840 --> 0:22:27.080 is stabilized and our operations are steady, and we're leveraging 0:22:27.080 --> 0:22:29.879 our partnerships five G to business and our research and 0:22:29.920 --> 0:22:33.479 development historic numbers, and we see a path forward and 0:22:33.520 --> 0:22:35.960 that we are heartened and determined to move forward with 0:22:36.000 --> 0:22:40.240 a tremendous emphasis on innovation and partnership. Andy, what is 0:22:40.280 --> 0:22:43.000 your hope for the net result of spending on R 0:22:43.040 --> 0:22:47.040 and D to get out of the impacts of sanctions. Well, 0:22:47.200 --> 0:22:51.520 what we're seeing is working closely with partners finding new 0:22:51.600 --> 0:22:55.160 kinds of technological capabilities that can be enabled by five 0:22:55.240 --> 0:22:57.440 G and other technologies, so that when you look at 0:22:57.800 --> 0:23:03.000 ports and mining and healthcare manufacturing, it's clear that these 0:23:03.119 --> 0:23:08.680 R and D investments are going to help strengthen operations, 0:23:08.800 --> 0:23:13.280 create greater funding, greater efficiency, and it's going to drive 0:23:13.760 --> 0:23:16.359 increases in gross domestic product in those countries that do 0:23:16.400 --> 0:23:19.320 it and those businesses that do it. So we're also 0:23:19.400 --> 0:23:22.840 doing some hardcore research on some of the major problems 0:23:22.840 --> 0:23:25.439 in science, such as Shannon's a limit the amount of 0:23:25.560 --> 0:23:27.600 error free data that can pass through its channel. Because 0:23:27.640 --> 0:23:30.000 we have to start getting ready for five point five 0:23:30.080 --> 0:23:32.560 G and the amount of uplinking downlike capabilities, it's going 0:23:32.600 --> 0:23:35.080 to be necessary. It's going to be a gigantic problem 0:23:35.080 --> 0:23:39.640