WEBVTT - Microsoft Sinks, Alphabet Spikes, Meta Next to Report 0:00:01.520 --> 0:00:05.840 From Mahard where Innovation, money and power. Collie in Silicon 0:00:05.920 --> 0:00:10.360 Vallet NBN. This is Bloomberg Technology with Caroline Hyde and 0:00:10.600 --> 0:00:11.200 Ed Ludlove. 0:00:24.880 --> 0:00:27.160 I'm Caroline Heinder Bloomberg's World. I Callders in New York. 0:00:27.240 --> 0:00:30.800 Ed Ludlow He's back tomorrow. This is Bloomberg Technology coming up. 0:00:30.840 --> 0:00:34.240 Full earnings coverage ahead from Google to Microsoft a snap, 0:00:34.280 --> 0:00:36.920 we have got you covered. Plus we'll take a deep 0:00:37.000 --> 0:00:39.400 dive into the current state of social media as Elon 0:00:39.440 --> 0:00:42.919 Muskun veils his grand vision to turn Twitter into x 0:00:43.040 --> 0:00:46.760 into a one stop shop for financial services. Plus we'll 0:00:46.800 --> 0:00:49.040 stick with social media and push your head to Meta's 0:00:49.080 --> 0:00:51.920 earnings out after the bell today. How have those cost 0:00:51.920 --> 0:00:56.880 cutting initiatives impacted the bottom line? We'll discuss it all first. Alphabet, Microsoft, 0:00:56.960 --> 0:01:00.560 some key movers on the benchmarks today. Dive into each 0:01:00.600 --> 0:01:03.040 micro picture and please to say that Daniel Newman of 0:01:03.080 --> 0:01:05.440 the Future and Group is here with our CEO and 0:01:05.560 --> 0:01:07.640 Dania's always great to have some time with you. And 0:01:07.720 --> 0:01:10.280 let's dig into Alphabet first, because it was a good 0:01:10.280 --> 0:01:12.520 set of numbers. Is this a relief rally or is 0:01:12.520 --> 0:01:15.800 this actually signs of progress? And really AI is starting 0:01:15.840 --> 0:01:16.600 to work in their favor. 0:01:16.880 --> 0:01:18.720 Well, I think there was a lot of concern when 0:01:18.720 --> 0:01:22.959 Microsoft first hit with chat, GPT open AI being is 0:01:22.959 --> 0:01:25.479 this going to start taking market share away from where 0:01:25.600 --> 0:01:28.480 Google makes its money and so Cloud, you know, was 0:01:28.520 --> 0:01:29.920 starting to make a little money and all of a 0:01:29.920 --> 0:01:31.560 sudden people are like, ooh, Cloud's starting to make money, 0:01:31.560 --> 0:01:32.200 but his search. 0:01:31.959 --> 0:01:33.039 All of a sudden getting get hit. 0:01:33.360 --> 0:01:35.200 I think we saw with what they were able to 0:01:35.240 --> 0:01:38.400 do with deep mind and brain getting their palm model, 0:01:38.440 --> 0:01:42.040 getting you know, uh, you know, the search generative search 0:01:42.200 --> 0:01:45.800 into market Caroline that effectively they're going to be stable. 0:01:46.200 --> 0:01:48.120 And now you can see what happens today is people 0:01:48.160 --> 0:01:50.280 are looking at Microsoft and saying, was the first move 0:01:50.320 --> 0:01:51.600 truly giving them an advantage? 0:01:51.800 --> 0:01:54.200 Yeah? Interesting. I mean we understand there's reports even that 0:01:54.200 --> 0:01:56.800 Segei Brin's come back into the fold much more, helping 0:01:56.880 --> 0:01:59.360 drive the AI focus for over at Alphabet, But talk 0:01:59.400 --> 0:02:02.120 to us about market share, particularly around cloud, because it 0:02:02.160 --> 0:02:04.480 feels as though azure is the area that everyone's slightly 0:02:04.520 --> 0:02:07.400 worried about. With Microsoft that ramp up the double digits 0:02:07.480 --> 0:02:10.000 rule got so used to just cooling down a little bit. 0:02:10.200 --> 0:02:11.880 Is Alphabet taking any of that. 0:02:12.200 --> 0:02:13.760 Well, they're taking a little bit because you saw they 0:02:13.800 --> 0:02:16.320 had about a twenty eight percent growth this quarter. Microsoft 0:02:16.320 --> 0:02:18.000 was just a little bit less than that, and anytime 0:02:18.040 --> 0:02:20.920 that Google outpaces Microsoft, it means small bits of micro 0:02:21.400 --> 0:02:23.359 market share. Now, having said that, there's a lot of 0:02:23.440 --> 0:02:27.320 large numbers, Azure did reveal some of its size, said 0:02:27.360 --> 0:02:29.120 about one hundred and ten billion in cloud, about half 0:02:29.160 --> 0:02:30.840 of that being Azure I believe were the numbers they 0:02:30.840 --> 0:02:32.800 put out, So they finally revealed a little bit of 0:02:32.880 --> 0:02:36.400 what their cloud market looks like. I mean, Google's you know, 0:02:36.560 --> 0:02:39.920 sub ten tennich billion dollars this quarter in revenue for 0:02:40.000 --> 0:02:42.679 the cloud business, so it's still a bit smaller. 0:02:42.880 --> 0:02:45.480 And so you know, remember when AWUS was growing. They're 0:02:45.560 --> 0:02:46.440 up to eighty. 0:02:46.240 --> 0:02:50.680 Billion dollars in revenue at plus annually. These differences are 0:02:50.720 --> 0:02:52.320 hard to make up, so when you're young and you're 0:02:52.360 --> 0:02:55.800 growing fast care line. Having said that, I think Googles 0:02:55.919 --> 0:02:58.040 has some momentum. I think their AI play is really 0:02:58.040 --> 0:03:00.320 starting to pay off. So they came in late. But 0:03:00.320 --> 0:03:02.720 people are saying, well, you didn't have to be early 0:03:02.760 --> 0:03:04.840 in this case, because we're seeing how quick things are. 0:03:04.720 --> 0:03:07.320 Catching up and whether they were technically late or whether 0:03:07.360 --> 0:03:10.040 they were just being more cautious about a rollout, realizing 0:03:10.400 --> 0:03:13.800 the power that they ultimately have in the in the community, 0:03:13.880 --> 0:03:16.799 their size, their scale. I'm interested in AI more broadly. 0:03:16.840 --> 0:03:19.440 It's interesting here in New York today. I think AWS 0:03:19.520 --> 0:03:23.280 is showing off its AI prowess. How much is AI 0:03:23.360 --> 0:03:25.800 going to drive cloud ad option more broadly, Well. 0:03:25.680 --> 0:03:28.480 It's going to be significant across the board. We saw 0:03:28.760 --> 0:03:31.600 Azure and then Microsoft with Dynamics three sixty five rollout, 0:03:31.639 --> 0:03:36.000 some pricing companies like SAP, companies like Salesforce, they're all saying, 0:03:36.200 --> 0:03:38.560 you want our best AI features, You're going to have 0:03:38.560 --> 0:03:41.320 to use our services in the cloud. And so different 0:03:41.320 --> 0:03:45.240 companies like in SAP, you don't have a hyperscale cloud, 0:03:45.320 --> 0:03:47.440 so you have to use an Azure, or you have 0:03:47.480 --> 0:03:50.280 to use an AWS Salesforce. You have to use their 0:03:50.320 --> 0:03:53.760 service to get the best AI options. And we're seeing 0:03:53.760 --> 0:03:56.520 the market. You know, we've done some recent market forecasting Carolina. 0:03:56.560 --> 0:03:58.880 We see this market growing by about threefold over the 0:03:58.960 --> 0:03:59.720 next five years. 0:04:00.640 --> 0:04:03.160 What exact market we're talking cloud adoption market head. 0:04:03.200 --> 0:04:04.880 We're seeing the AI market. 0:04:04.920 --> 0:04:07.480 So we see about a sixty billion dollar market right now. 0:04:08.040 --> 0:04:10.800 Our future and forecast for five years out twenty twenty 0:04:10.840 --> 0:04:13.000 seven shows almost one hundred and eighty billion. This is 0:04:13.000 --> 0:04:16.720 in hardware, platforms software, So this is you know, a 0:04:16.800 --> 0:04:19.240 twenty two percent or so growth rate, which is big, 0:04:19.600 --> 0:04:20.560 but for how much AI. 0:04:20.640 --> 0:04:22.960 I actually think it's going to be quite a bit bigger. 0:04:23.000 --> 0:04:25.040 And I think some of this forecast is there's still 0:04:25.040 --> 0:04:27.360 a bit of conservatism. I think people are a little 0:04:27.400 --> 0:04:29.839 bit past the hype. Are they using the services? You know, 0:04:29.880 --> 0:04:31.880 I was using barred like crazy, I was using GPT 0:04:31.960 --> 0:04:34.000 and I found myself carrying over the last you know, 0:04:34.160 --> 0:04:36.240 a couple of weeks to month, almost like I'm not 0:04:36.360 --> 0:04:38.720 using them quite as much, so has a luster worn off? 0:04:38.800 --> 0:04:41.000 Or now we're starting to see it applied into tools, 0:04:41.120 --> 0:04:42.440 and that's where it's going to really start to pay 0:04:42.440 --> 0:04:44.679 off in our CRM, in our search when we're actually 0:04:44.800 --> 0:04:47.400 using these things for business and enterprise purposes. 0:04:47.600 --> 0:04:50.200 Dan, can you when you're looking at modeling that out 0:04:50.400 --> 0:04:52.440 for the next five years, what are you using as 0:04:52.480 --> 0:04:55.080 price points? And we're only starting to see what a 0:04:55.200 --> 0:04:57.680 Microsoft would charge if you're going to adopt some of 0:04:57.720 --> 0:05:01.320 their overall being AI within the enterprise thirty bucks a month. Additional, 0:05:02.120 --> 0:05:03.880 how are you seeing companies charge for this, and how 0:05:03.880 --> 0:05:04.920 do you forecast that forward? 0:05:05.120 --> 0:05:06.279 Well, so here's the thing. 0:05:06.600 --> 0:05:09.719 The MODELINGUE is incredibly complicated because you have the modeling 0:05:09.760 --> 0:05:11.880 of things like hardware, where we have quite a bit 0:05:11.920 --> 0:05:17.160 of clarity whether it's an Nvidia, Intel AWS selling infrastructure. 0:05:17.360 --> 0:05:19.360 And then you have software. We have companies that are 0:05:19.440 --> 0:05:21.200 kind of saying, hey, we're going to give this away. 0:05:21.760 --> 0:05:22.440 You know, we're going to. 0:05:22.480 --> 0:05:24.760 Just include this because it's how we protect our moat. 0:05:25.160 --> 0:05:27.480 And then you had Salesforce that showed a really rich 0:05:27.640 --> 0:05:29.640 pricing and said we have a ton of features across 0:05:29.680 --> 0:05:33.400 service marketing, sales Cloud, and you're going to pay a lot, 0:05:33.560 --> 0:05:35.599 but it's going to be very, very feature rich, and 0:05:35.640 --> 0:05:38.040 it's going to be incremental. I think where Microsoft has 0:05:38.080 --> 0:05:40.080 a good play here is that they're going to be 0:05:40.160 --> 0:05:43.720 able to put all these copilots into every part of 0:05:43.760 --> 0:05:47.000 their business. And they charged twenty thirty, but remember they 0:05:47.000 --> 0:05:50.799 have hundreds of millions of users, so even small incremental 0:05:50.800 --> 0:05:53.760 gains across their product portfolio are going to drive it north. 0:05:53.760 --> 0:05:55.479 So I think the reaction today, I mean if I 0:05:55.480 --> 0:05:57.280 was an investor and I was looking at the reaction today, 0:05:57.279 --> 0:05:59.359 I would say it's a little bit of an overreaction. 0:05:59.440 --> 0:06:02.200 But look at how which these companies have run and 0:06:02.240 --> 0:06:04.600 you know, we're resetting. We're saying this AI thing was 0:06:04.640 --> 0:06:06.880 a lot of hype. It's not only hype. It is 0:06:06.960 --> 0:06:08.680 going to be real. But in the long run, the 0:06:08.680 --> 0:06:11.520 way this rebalances companies incremental revenue is going to take 0:06:11.560 --> 0:06:12.640 a little more time to play out. 0:06:12.680 --> 0:06:14.480 And when you looked at that five year forecast, when 0:06:14.520 --> 0:06:16.719 you're thinking of what was it one hundred and eighty 0:06:16.760 --> 0:06:20.200 billion being added? Does that vindicate the sort of valuation 0:06:20.279 --> 0:06:22.120 increases that we have seen so far, or do you 0:06:22.160 --> 0:06:23.360 think they've got ahead of themselves. 0:06:23.400 --> 0:06:27.520 I think the market is early, but it's very indicative 0:06:27.680 --> 0:06:30.720 of where we're going. You can't possibly see tools like 0:06:31.440 --> 0:06:34.719 supply chain management tools HR and hiring tools and see 0:06:34.720 --> 0:06:36.640 how AI could help us get to the right candidate, 0:06:36.960 --> 0:06:40.200 you know, streamline getting product into market. Everything here is 0:06:40.240 --> 0:06:43.160 about productivity gains. And when you think about productivity gains, 0:06:43.200 --> 0:06:45.680 you think about earnings increases, and you think about what 0:06:45.720 --> 0:06:47.800 the market is driven by. It's driven by can a 0:06:47.839 --> 0:06:50.440 company make more money in the future. All these tech 0:06:50.480 --> 0:06:53.600 companies have big bets on AI and we're seeing kind 0:06:53.600 --> 0:06:56.120 of the winners get separated. The companies that are going 0:06:56.160 --> 0:06:58.880 to lag in industries like real estate and oil and gas, 0:06:58.880 --> 0:07:02.040 that's what we're seeing from an AIU standpoint, are going 0:07:02.080 --> 0:07:03.200 to be the ones that are going to be harder 0:07:03.200 --> 0:07:05.960 to invest in. So in every field, what investors need 0:07:05.960 --> 0:07:07.839 to really be looking for is which companies are going 0:07:07.920 --> 0:07:11.440 to see these incremental and then exponential gains because they're 0:07:11.440 --> 0:07:12.600 going to be able to put AI to use. 0:07:12.800 --> 0:07:16.840 And is it from Microsoft, from Alphabet, from Amazon that 0:07:17.000 --> 0:07:21.280 those sectors adopt from or is it more bespoke focused 0:07:21.560 --> 0:07:23.480 AI tools. So we're actually seeing more fun and in 0:07:23.520 --> 0:07:24.640 the venture space right now. 0:07:24.760 --> 0:07:26.560 Well, I think it's going to be partnerships. 0:07:26.840 --> 0:07:29.120 So I think you've seen Jensen Wong of Nvidia out 0:07:29.240 --> 0:07:31.640 announcing partnerships with pretty much every tech company. You see 0:07:31.680 --> 0:07:33.720 him out in healthcare, you see him talking with financials, 0:07:33.960 --> 0:07:36.480 and then of course he's partnering with Hyperscale. 0:07:36.000 --> 0:07:37.720 Cloud providers, SaaS providers. 0:07:37.760 --> 0:07:40.280 You know him and Bill McDermott, we're on stage together 0:07:40.320 --> 0:07:41.320 at the Service Now event. 0:07:41.480 --> 0:07:42.960 I think there's a lot of collaboration. 0:07:43.080 --> 0:07:46.880 I do think vertical specific AI turnline is going to 0:07:46.880 --> 0:07:50.920 be tremendously opportunistic because knowing real estate. 0:07:51.240 --> 0:07:53.280 Knowing retail, you're going to have to build solutions. 0:07:53.280 --> 0:07:56.000 There's too many options, too much optionality of how to 0:07:56.000 --> 0:07:58.000 build an AI solution. People are going to want it 0:07:58.040 --> 0:08:00.560 in a box, just like we wanted CRM or HR 0:08:00.720 --> 0:08:02.880 management solutions. They're not going to want to try to 0:08:02.880 --> 0:08:04.440 build it from scratch, and we've seen that change in 0:08:04.480 --> 0:08:05.240 just a couple of months. 0:08:05.360 --> 0:08:07.240 Dan, great to get some mos of tees. Thank you 0:08:07.720 --> 0:08:09.680 running on over here in a very hot New York. 0:08:09.800 --> 0:08:12.200 Damn newman of the future and group. Great to have 0:08:12.280 --> 0:08:14.800 him on site. Mean, while coming up, look Snap plunging 0:08:14.920 --> 0:08:18.000 after its sales forecast disappoints. We're going to have much 0:08:18.040 --> 0:08:20.840 more next with jument Emburg of Insider Intelligence. Plus, I mean, 0:08:20.840 --> 0:08:23.080 we've got to talk more broadly about the social media space, 0:08:23.520 --> 0:08:26.600 the giant that is Meta reporting earnings after the bell today. Yes, 0:08:26.600 --> 0:08:28.400 there's been the hype about threads, but what about the 0:08:28.400 --> 0:08:32.000 reality of their financial discipline, what about the clampdown on costs? 0:08:32.120 --> 0:08:48.400 This is Bloomberg Technology. Let's talk product now. Samsung unveiling 0:08:48.440 --> 0:08:51.840 it fifth generation of foldable smartphones today, seeking to counter 0:08:51.920 --> 0:08:55.360 a sluggish market for devices and outcoming rival products coming 0:08:55.360 --> 0:08:58.000 from Apple. Some Sung's executive vice president and head of 0:08:58.000 --> 0:09:03.120 Customer Experience Officer Mobile Experience Business. It's quite a long titled. 0:09:03.120 --> 0:09:06.400 As Patrick Truman, he's work exclusively Bluemang News in Seul. 0:09:06.559 --> 0:09:07.439 Just take a listen. 0:09:10.200 --> 0:09:15.480 Before these designed for productivities, we enlarge the ecosystem with 0:09:15.640 --> 0:09:19.120 a range of new application developers in the productivity domain. 0:09:19.800 --> 0:09:23.400 And the multitasking has improved with the taskbar, and that 0:09:23.559 --> 0:09:26.840 is because we have this incredible performance and AI capability 0:09:26.880 --> 0:09:28.360 with the new processor. 0:09:28.679 --> 0:09:33.320 Some Song has this open collaboration environment where like a 0:09:33.360 --> 0:09:36.800 culture for Galaxy, and like Google is part of it, 0:09:36.840 --> 0:09:40.760 and Microsoft and Meta and like they all have some 0:09:40.840 --> 0:09:45.440 kind of agendas to have their own generative AI tools. 0:09:45.520 --> 0:09:49.439 And now that Apple is joining the race, is there 0:09:49.480 --> 0:09:52.120 any like some songs efforts to do it. 0:09:52.200 --> 0:09:55.360 So there is a lot of intelligence and AI at 0:09:55.440 --> 0:09:58.959 play already in many parts of our devices. As said, 0:09:59.400 --> 0:10:02.520 we are working with Google on the partnership for a 0:10:02.559 --> 0:10:06.120 long time and we have a culture to foster the 0:10:06.120 --> 0:10:07.000 innovation together. 0:10:07.400 --> 0:10:12.720 Chinese smartphonemakers like I'm Shoo, me Opo and o'hawe, they're 0:10:12.800 --> 0:10:15.880 all rolling out their own version of voldoble phones with 0:10:16.640 --> 0:10:20.000 cheaper prices. Is there any chance that someone would like 0:10:20.080 --> 0:10:25.920 to provide more foldable prices for foldable users, let's say 0:10:25.920 --> 0:10:28.880 in India or China in the near future. 0:10:29.480 --> 0:10:33.840 Some analysts predict the market to grow beyond one hundred 0:10:33.840 --> 0:10:37.360 million units by twenty twenty seven. In the next three years, 0:10:37.559 --> 0:10:40.120 we really expect to capture a large part of the growth. 0:10:40.760 --> 0:10:44.120 Right now, I can say it's a growing category and 0:10:44.360 --> 0:10:50.079 what dies the appeal the pool is actually quality. It's 0:10:50.160 --> 0:10:51.040 quality and innovation. 0:10:51.559 --> 0:10:55.040 And is there a chance that you're going to add 0:10:55.120 --> 0:10:59.760 more feature about the flip after the fifth generation. 0:11:00.080 --> 0:11:02.480 On the software on the xperiancede, we continue to improve 0:11:03.040 --> 0:11:06.720 many mini experiances with are intelligions coming in more so 0:11:06.800 --> 0:11:08.880 there it's just the beginning. I would say we are 0:11:08.920 --> 0:11:11.120 still at the beginning of a new ar and we 0:11:11.160 --> 0:11:12.800 are very excited about. 0:11:12.480 --> 0:11:16.199 The potent voldable phones now about five percent of the market. 0:11:16.200 --> 0:11:18.520 We understand Samsung's executive vice president and the head of 0:11:18.520 --> 0:11:22.800 customer Experience, that's Patrick Trumman. The Bloomberg's Sue Kim. Let's 0:11:22.840 --> 0:11:26.160 return now to where AI has perhaps been taking away 0:11:26.160 --> 0:11:27.719 a little bit from the bottom line. We're going to 0:11:27.760 --> 0:11:29.960 talk snap right now, tumbling today, after the social media 0:11:30.000 --> 0:11:33.960 company reported well second quored results that gave revenue outlooks 0:11:34.000 --> 0:11:36.959 a little bit weaker than expected, even as it continues 0:11:37.000 --> 0:11:39.800 to invest in new ways you can be advertising on 0:11:39.840 --> 0:11:42.000 the platform. Let's talk about the earnings, and we're broadly 0:11:42.000 --> 0:11:45.280 about social media landscape. Jasmine mbugs with us lead coverage 0:11:45.280 --> 0:11:48.160 of influencer marketing and social commerce and insider intelligence. Of 0:11:48.200 --> 0:11:51.360 course you look at Snapchat, you also look at TikTok, Instagram, YouTube, Twitter, 0:11:51.440 --> 0:11:54.560 now x Facebook will get onto all of them. But jusmin, 0:11:55.080 --> 0:11:57.240 I mean Snap always does this. It feels like it 0:11:57.280 --> 0:12:01.520 has pretty volatile reaction to earnings and often to the downside. 0:12:01.840 --> 0:12:05.040 Is there hope that in the forward looking future we 0:12:05.120 --> 0:12:08.120 will start to see well benefits of the investments they made. 0:12:10.240 --> 0:12:12.600 Yeah, well, Snap is clearly not out of its revenue 0:12:12.600 --> 0:12:15.400 slump yet, and prior to earnings yesterday, I had said 0:12:15.440 --> 0:12:17.800 that its ad business wouldn't start to turn around until 0:12:17.840 --> 0:12:20.200 at least the second half of this year, and now 0:12:20.200 --> 0:12:23.040 it's looking like Q four at the earliest. But despite 0:12:23.080 --> 0:12:25.680 the weak guidance for Q three, there were plenty of 0:12:25.760 --> 0:12:28.720 bright spots to look to, and its earnings, Snap made 0:12:28.760 --> 0:12:31.480 all of the right moves. During Q two, it worked 0:12:31.520 --> 0:12:35.320 to strengthen its user base, diversify its revenue streams, and 0:12:35.400 --> 0:12:38.120 improve on its ad platform. We saw a couple of 0:12:38.160 --> 0:12:42.120 positive signs already from those efforts, including in the number 0:12:42.160 --> 0:12:47.800 of active advertisers as well as advertiser retention. There's clearly 0:12:47.840 --> 0:12:50.160 still a lot of work to do, and efforts to 0:12:50.280 --> 0:12:53.880 diversify its revenue streams through Snapchat Plus, for example, will 0:12:53.880 --> 0:12:57.680 take time to actually have an impact on its bottom line. 0:12:58.200 --> 0:13:01.679 And my AI is where I'm most hopeful for Snap's 0:13:01.679 --> 0:13:04.320 business in the future, because it really does or has 0:13:04.320 --> 0:13:08.280 the potential, to give Snapchat access to first party data 0:13:08.360 --> 0:13:11.960 that it can use to serve more relevant content and 0:13:11.880 --> 0:13:15.000 advertising across its surfaces, and actually making up for some 0:13:15.040 --> 0:13:17.240 of those lost signals from Apple's privacy changes. 0:13:17.640 --> 0:13:20.240 Interesting that, of course, a subscription model therefore still to 0:13:20.280 --> 0:13:23.680 bear fruit. What's interesting is well, other companies have started 0:13:23.720 --> 0:13:26.080 to do subscription models, and we think of the way 0:13:26.080 --> 0:13:29.000 in which Twitter now X is trying to monetize, trying 0:13:29.000 --> 0:13:31.720 to make up for some advertising weakness, to the tune 0:13:31.720 --> 0:13:35.160 of fifty percent, what have you been making of social media? 0:13:35.200 --> 0:13:37.520 More broadly, the competition, the fact that everyone seems to 0:13:37.520 --> 0:13:39.520 be on each other's toes. Can you just talk about 0:13:39.760 --> 0:13:41.880 X and the rebrand for a moment, What do you 0:13:41.880 --> 0:13:42.319 make of it? 0:13:43.880 --> 0:13:44.000 Well? 0:13:44.040 --> 0:13:45.480 Absolutely, I mean, first of all, there is a ton 0:13:45.520 --> 0:13:47.920 of competition in social media. That's another reason, of course 0:13:47.920 --> 0:13:51.760 why Snap continues to struggle. But with X and the rebrand, 0:13:51.800 --> 0:13:54.680 I mean, it was a massive moment for social media. 0:13:54.720 --> 0:13:57.480 It really truly is the end of an era. I mean, 0:13:57.520 --> 0:14:01.000 Twitter is an incredibly recognizable brand. The word tweet is 0:14:01.040 --> 0:14:04.120 part of the public consciousness, but the rating was also 0:14:04.240 --> 0:14:06.960 on the wall here. I mean, Musk has been very 0:14:07.040 --> 0:14:11.720 vocal about transforming Twitter into X. I think the timing 0:14:11.880 --> 0:14:14.480 in some ways was right. You know, Musk is a 0:14:14.640 --> 0:14:17.800 master of media, and he may have wanted his news 0:14:17.800 --> 0:14:20.560 cycle back, but that that's not to say that this 0:14:21.240 --> 0:14:25.560 wasn't coming. The question now is, though, you know, there's 0:14:25.600 --> 0:14:28.880 obviously a vision for X, but what is the strategy 0:14:28.920 --> 0:14:29.400 behind it? 0:14:29.440 --> 0:14:30.560 Does he truly have one? 0:14:30.600 --> 0:14:33.840 Because super apps, of course, are unproven in most of 0:14:33.880 --> 0:14:35.640 the Western world, including in the. 0:14:35.680 --> 0:14:38.320 US, Can you tell us a little bit about super apps? 0:14:38.360 --> 0:14:41.400 It feels like maybe everyone's trying to build them right now. 0:14:41.440 --> 0:14:43.440 I mean, of course, in the past what's interesting about 0:14:43.600 --> 0:14:46.320 X is there's a real focus on payments that are 0:14:46.360 --> 0:14:48.240 going forward, and we know that, you know, Musk, that's 0:14:48.240 --> 0:14:50.320 where it's made a fortune to begin with this PayPal, 0:14:50.400 --> 0:14:53.280 But PayPal can never quite make the cross that rubicon 0:14:53.360 --> 0:14:55.840 in terms of actual banking services. You look at how 0:14:56.160 --> 0:15:01.160 meta originally Facebook was looking at its own payments infrastructure 0:15:01.200 --> 0:15:04.200 and wipe that away. And then it feels like TikTok 0:15:04.280 --> 0:15:07.800 is starting to get in on the text based communication 0:15:07.960 --> 0:15:10.800 as well. Is everyone eventually going to try and go 0:15:10.880 --> 0:15:12.280 for some sort of we chat model. 0:15:12.920 --> 0:15:15.080 Well, it looks like everybody wants to do a little 0:15:15.120 --> 0:15:17.000 bit of everything, right, but with the we chat model 0:15:17.000 --> 0:15:18.880 in particular, I mean that is one that Musk has 0:15:18.920 --> 0:15:22.040 pointed to for you know, over a year now. And 0:15:22.920 --> 0:15:25.920 the reason why super apps really haven't taken off in 0:15:25.960 --> 0:15:29.000 the US is one, you know, we have established habits, 0:15:29.000 --> 0:15:31.680 We are used to doing different activities in different apps, 0:15:31.680 --> 0:15:34.800 and it is incredibly difficult to change consumer behavior. There's 0:15:34.800 --> 0:15:37.080 also a lot of privacy concerns, especially when you move 0:15:37.120 --> 0:15:40.120 into things like payments and financial services. People have to 0:15:40.160 --> 0:15:43.920 hand over a lot of personal and payment information and 0:15:43.960 --> 0:15:47.360 they're not necessarily willing to do that, especially on a 0:15:47.400 --> 0:15:51.920 social media platform. In some ways, I understand the rebranding 0:15:52.000 --> 0:15:54.920 as Musk is trying to move towards this exhivision of 0:15:54.960 --> 0:15:59.040 a super app, because it does distance the company from, 0:15:59.080 --> 0:16:01.840 you know, the problem that did exist at Twitter before. 0:16:02.280 --> 0:16:05.680 But there's a lack of trust and Musk itself himself too. 0:16:06.040 --> 0:16:09.440 And X of course is a new company or a 0:16:09.480 --> 0:16:13.920 new brand that really doesn't have that same kind of recognition. 0:16:14.000 --> 0:16:16.960 But they do actually have a CEO who's very well 0:16:17.000 --> 0:16:21.520 known within the spending market area, and Lindi Akarino doing 0:16:21.520 --> 0:16:24.960 her best to navigate X as Zeno Musk does appear 0:16:25.040 --> 0:16:28.320 from the outside looking in very much still calling the shots. 0:16:28.600 --> 0:16:32.120 How much do you think, just in general, were at 0:16:32.120 --> 0:16:35.080 some sort of bottom when it comes to advertising sentiment 0:16:35.160 --> 0:16:38.120 here because I asked report at that of Alphabet and 0:16:38.600 --> 0:16:40.800 she didn't really want to make any sort of call there. 0:16:43.400 --> 0:16:46.800 Well, one of the biggest challenges Linda Yakarino was always 0:16:46.840 --> 0:16:50.280 going to have was balancing Musk's vision for the platform 0:16:50.320 --> 0:16:53.840 with what Twitter users and advertisers want. You know, it 0:16:53.920 --> 0:16:55.880 was never going to be an easy job, even for 0:16:55.960 --> 0:16:59.800 somebody with as much experiences as Yakarino. I think that 0:17:00.080 --> 0:17:03.080 early optimism that you know a lot of people had, 0:17:03.120 --> 0:17:07.600 including myself after her appointment, has faded and is mostly gone. 0:17:07.640 --> 0:17:09.560 At this point, we can tell that, you know, Elon 0:17:09.640 --> 0:17:12.800 Musk is very much still calling the shots, and publicly 0:17:12.840 --> 0:17:15.520 she hasn't said much more than applaud many of these 0:17:15.600 --> 0:17:19.160 changes and his vision. Of course, you know, the Twitter's 0:17:19.240 --> 0:17:24.120 ad revenue struggles are very very well documented and there 0:17:24.160 --> 0:17:26.879 hasn't been much movement in a more positive direction, and 0:17:26.880 --> 0:17:29.080 it's going to be even more difficult to do so now. 0:17:29.920 --> 0:17:33.080 In Cider Intelligence, principal analyst Jasmine Enberg, it is such 0:17:33.080 --> 0:17:35.639 a busy space and you're always so clear thinking and 0:17:35.680 --> 0:17:38.240 click out about it. We appreciate it a lot. From 0:17:38.280 --> 0:17:38.680 New York. 0:17:39.040 --> 0:18:22.160 It's a blue meg technology. 0:18:29.640 --> 0:18:32.320 I've always been a person who's just been attracted to hair. 0:18:33.160 --> 0:18:35.480 I like to sit and think and theorize how I 0:18:35.520 --> 0:18:39.800 can manifest these visions that I have for braiding, and 0:18:39.880 --> 0:18:42.280 how I can take something that may seem like it's 0:18:42.280 --> 0:18:44.800 a line drawing in my mind and apply that to 0:18:44.840 --> 0:18:45.600 someone's scalp. 0:18:46.800 --> 0:18:50.840 We are the only culture that has hair that grows 0:18:50.920 --> 0:18:53.480 out of our head the way that it does anyone 0:18:53.520 --> 0:18:58.760 from the African diaspora is born with this amazingly curly 0:18:58.880 --> 0:19:02.600 hair that can be shaped into a variety of different 0:19:02.600 --> 0:19:03.600 ways of expression. 0:19:05.240 --> 0:19:07.480 I want Black people to love themselves for how they 0:19:07.720 --> 0:19:12.520 naturally appear, and also to appreciate the cultural practices such 0:19:12.520 --> 0:19:15.960 as braiding, that our ancestors have practiced for centuries. 0:19:52.920 --> 0:19:55.199 It's time now for work shifting, where we look at 0:19:55.200 --> 0:19:58.879 the changing landscape for the labor market amid advances in technology, 0:19:58.920 --> 0:20:01.639 and we therefore to look at how the head of 0:20:01.680 --> 0:20:05.399 the largest US private sector union, Teamsters is turning his 0:20:05.480 --> 0:20:07.400 attention to e commerce giant Amazon. 0:20:09.520 --> 0:20:12.160 Amazon's definitely going to be a target to organize. We're 0:20:12.160 --> 0:20:15.440 going to take this historic agreement and use it as 0:20:15.440 --> 0:20:18.840 a temple to show the Amazon workers what they will 0:20:19.040 --> 0:20:21.320 receive when they join the team Stite union and we 0:20:21.480 --> 0:20:23.080 organize them. 0:20:23.280 --> 0:20:25.800 Of course, this comes just hours after reaching a tentative 0:20:25.840 --> 0:20:28.920 deal to boost pay and benefits for hundreds of thousands 0:20:29.040 --> 0:20:32.880 of UPS workers. Brilliant plus, Google, the Microsoft, and Open 0:20:32.920 --> 0:20:36.159 Ai are launching a safety model for artificial intelligence. The effort, 0:20:36.200 --> 0:20:39.520 called the Frontier Model Forum, aims to consolidate the expertise 0:20:39.560 --> 0:20:43.920 and member companies and create new AI industry standards meanwhile, 0:20:43.960 --> 0:20:47.640 and is planning a restructuring now. The jackmar backed company 0:20:47.760 --> 0:20:50.480 is looking to break off its blockchain and overseas units 0:20:50.520 --> 0:20:52.959 to pave a way for its revival of an initial 0:20:52.960 --> 0:20:55.119 public offering, and that's likely to be down out of 0:20:55.119 --> 0:20:57.600 Hong Kong rather than that duel listing that was initially 0:20:57.640 --> 0:21:00.840 targeted in Shanghai and Hong Kong. That of course comes 0:21:00.880 --> 0:21:03.440 over after a change of ownership that prevents them doing 0:21:03.440 --> 0:21:06.920 that in Shanghai for at least three years. Meanwhile, coming up, 0:21:07.160 --> 0:21:10.320 part of the Elon Musk grand vision to rebrand Twitter 0:21:10.359 --> 0:21:13.600