1 00:00:02,360 --> 00:00:06,560 Speaker 1: From the heart of where innovation, money and power in 2 00:00:06,720 --> 00:00:24,040 Speaker 1: Silicon Valley and beyond. This is Bloomberg Technology with Emily Jay. 3 00:00:25,760 --> 00:00:27,960 Speaker 1: I'm Taylor Riggs in New York and for Emily Chang, 4 00:00:28,080 --> 00:00:31,080 Speaker 1: this is Bloomberg Technology. Coming up in the next hour, 5 00:00:31,440 --> 00:00:34,960 Speaker 1: a warning from President Biden to China's Pink There will 6 00:00:35,000 --> 00:00:39,160 Speaker 1: be quote consequences if China supports Russia in its invasion 7 00:00:39,320 --> 00:00:42,800 Speaker 1: of Ukraine. What this call between the two leaders could 8 00:00:42,880 --> 00:00:46,199 Speaker 1: mean for this ongoing war, plus what more needs to 9 00:00:46,200 --> 00:00:49,680 Speaker 1: be done to reach true pay equality. We'll speak with 10 00:00:49,720 --> 00:00:52,040 Speaker 1: a woman who has made it her goal to change 11 00:00:52,159 --> 00:00:55,800 Speaker 1: the structural roadblocks at her company and what others can 12 00:00:55,920 --> 00:00:59,680 Speaker 1: learn from it. And he's helping raise millions for families 13 00:00:59,720 --> 00:01:02,360 Speaker 1: in you Crane with as little as a thousand dollars 14 00:01:02,400 --> 00:01:05,880 Speaker 1: per donation. Will meet the man behind the one K project, 15 00:01:06,160 --> 00:01:09,520 Speaker 1: including what inspired him to get involved. Now, of course, 16 00:01:09,560 --> 00:01:12,320 Speaker 1: today President Biden has been roughly about two hours in 17 00:01:12,360 --> 00:01:15,479 Speaker 1: a video chat with Chinese leader Jijing Ping. The two 18 00:01:15,480 --> 00:01:18,880 Speaker 1: talked about Russia's invasion of Ukraine and what to do next. 19 00:01:19,160 --> 00:01:22,360 Speaker 1: From more, I'm joined by Bloomberg Political director Jody Schneider 20 00:01:22,760 --> 00:01:26,240 Speaker 1: in Washington. It was interesting Jody speaking with anre horder 21 00:01:26,280 --> 00:01:29,039 Speaker 1: in a few hours ago. We heard China's version of events. 22 00:01:29,080 --> 00:01:31,559 Speaker 1: Then we finally got the read out of the US version. 23 00:01:31,880 --> 00:01:34,000 Speaker 1: What did it sound like for you for how the 24 00:01:34,080 --> 00:01:38,600 Speaker 1: call went. Yeah, so they're very different versions tailors. You 25 00:01:38,680 --> 00:01:41,320 Speaker 1: might note they agreed on that they talked for two hours. 26 00:01:41,400 --> 00:01:43,920 Speaker 1: There was a video conference, first time that the two 27 00:01:44,000 --> 00:01:47,559 Speaker 1: leaders have spoken since November, so obviously the first time 28 00:01:47,640 --> 00:01:52,800 Speaker 1: since the Russia's invasion of Ukraine. UH. The Chinese summary 29 00:01:52,880 --> 00:01:56,320 Speaker 1: came out first UH shortly after the call, and that 30 00:01:56,480 --> 00:02:00,559 Speaker 1: they said, UH that President hu Jianping uh the case 31 00:02:00,640 --> 00:02:03,480 Speaker 1: that they did not want to see an invasion of 32 00:02:03,680 --> 00:02:06,680 Speaker 1: Ukraine and that they do not think that country's conflicts 33 00:02:06,680 --> 00:02:09,960 Speaker 1: should be settled on the battlefield. However, they didn't mention 34 00:02:10,080 --> 00:02:13,400 Speaker 1: Russia by name and didn't publicly UM and have not 35 00:02:13,600 --> 00:02:17,919 Speaker 1: publicly criticized Russia for or denounced Russia as most of 36 00:02:17,960 --> 00:02:20,800 Speaker 1: the rest of the world has for that invasion. On 37 00:02:20,840 --> 00:02:24,040 Speaker 1: the U S side, we got that statement later several 38 00:02:24,080 --> 00:02:28,520 Speaker 1: hours later, and basically they said that US President Joe 39 00:02:28,560 --> 00:02:31,880 Speaker 1: Biden had come out very strongly and said that there 40 00:02:31,919 --> 00:02:36,280 Speaker 1: will be implications and consequences for China if they were 41 00:02:36,360 --> 00:02:40,560 Speaker 1: to take direct support of Russia, such as selling aircraft 42 00:02:40,639 --> 00:02:45,079 Speaker 1: or or military equipment to them for that invasion. UH. 43 00:02:45,120 --> 00:02:48,920 Speaker 1: And also made the case that UH that President Biden. 44 00:02:49,480 --> 00:02:52,200 Speaker 1: President Biden made the case that the US had taken 45 00:02:52,360 --> 00:02:56,160 Speaker 1: a number of steps, including sanctions, to try to stop 46 00:02:56,160 --> 00:02:58,440 Speaker 1: that invasion in the first place. Judie, how do you 47 00:02:58,480 --> 00:03:01,880 Speaker 1: think about this significance of these talks given the height 48 00:03:01,960 --> 00:03:04,400 Speaker 1: in sort of geopolitical risk that we're already in, Because 49 00:03:04,480 --> 00:03:07,080 Speaker 1: let's be honest, coming into this, this was a US 50 00:03:07,120 --> 00:03:11,280 Speaker 1: in a China relationship that was already pretty strained. That's right. 51 00:03:11,360 --> 00:03:13,960 Speaker 1: There's these times have been frayed in recent years by 52 00:03:13,960 --> 00:03:17,120 Speaker 1: a number of things, the trade tensions, UH, tensions over 53 00:03:17,200 --> 00:03:21,800 Speaker 1: things like intellectual property disputes Hong Kong, Taiwan, UM, and 54 00:03:21,840 --> 00:03:24,320 Speaker 1: then this on top of it. But the fact that 55 00:03:24,400 --> 00:03:27,919 Speaker 1: they are talking, I think it's significant in and of itself. UM, 56 00:03:27,960 --> 00:03:30,920 Speaker 1: we have nuclear powers here, UM discussing the invasion of 57 00:03:30,919 --> 00:03:33,480 Speaker 1: a country by another nuclear power, and the fact that 58 00:03:33,520 --> 00:03:37,400 Speaker 1: they're talking, and that neither side UH, that both sides 59 00:03:37,440 --> 00:03:39,560 Speaker 1: seemed to be willing to come back to the table. 60 00:03:39,840 --> 00:03:41,920 Speaker 1: That was another headline out of this that they say 61 00:03:41,960 --> 00:03:45,160 Speaker 1: they will keep talking. Uh is significant in itself. Um, 62 00:03:45,200 --> 00:03:47,280 Speaker 1: they didn't talk about trade or any of these other 63 00:03:47,320 --> 00:03:50,440 Speaker 1: issues that Taiwan did come up, with the US saying 64 00:03:50,560 --> 00:03:54,520 Speaker 1: it continues with its support of Taiwan the status quo, 65 00:03:54,760 --> 00:03:59,640 Speaker 1: which is that it supports the democratically elected leadership of Taiwan, 66 00:04:00,040 --> 00:04:03,760 Speaker 1: and China didn't have a fairly UH strong statement on 67 00:04:03,800 --> 00:04:08,480 Speaker 1: Taiwan itself, saying that their actions their perceived actions on 68 00:04:08,520 --> 00:04:13,160 Speaker 1: Taiwan have been misread and misjudged by the US and 69 00:04:13,200 --> 00:04:16,400 Speaker 1: there was an implicit warning there. Jody, I think what's interesting, 70 00:04:16,440 --> 00:04:18,560 Speaker 1: We're just coming off of a great conversation we had 71 00:04:18,600 --> 00:04:20,640 Speaker 1: on Triple Take for the last thirty minutes when we 72 00:04:20,640 --> 00:04:23,760 Speaker 1: talk about the effectiveness of sanctions, and on one hand, 73 00:04:23,800 --> 00:04:25,840 Speaker 1: they can work when they're targeted, but on the other hand, 74 00:04:25,839 --> 00:04:29,080 Speaker 1: it really can continue to isolate a country like Russia 75 00:04:29,120 --> 00:04:32,760 Speaker 1: and push them further into China's hands. Right, how are 76 00:04:32,800 --> 00:04:36,200 Speaker 1: you thinking about globalization the reorder of the word the 77 00:04:36,279 --> 00:04:39,360 Speaker 1: world is we're thinking about sort of these bilateral relationships 78 00:04:39,400 --> 00:04:41,320 Speaker 1: or if it's really just more of the Eastern powers 79 00:04:41,440 --> 00:04:45,040 Speaker 1: versus now some of the Western countries. Yeah, it certainly 80 00:04:45,080 --> 00:04:47,800 Speaker 1: has the potential to shake things up and to deliver 81 00:04:47,920 --> 00:04:50,400 Speaker 1: us to more of that Cold war world. The other 82 00:04:50,480 --> 00:04:53,160 Speaker 1: question was sanctions. Taylor. I think is interesting is how 83 00:04:53,240 --> 00:04:56,240 Speaker 1: much further can they go? UH? The US has you know, 84 00:04:56,320 --> 00:04:59,760 Speaker 1: this has been the big They're big arsenal if you 85 00:05:00,279 --> 00:05:03,880 Speaker 1: in trying to first prevent that, uh, that invasion, and 86 00:05:03,880 --> 00:05:07,720 Speaker 1: then when they couldn't prevent it, to punish Russia Ford 87 00:05:07,760 --> 00:05:10,240 Speaker 1: and to try to isolate them. But they have gone 88 00:05:10,360 --> 00:05:12,600 Speaker 1: you know there, there doesn't seem to be much more 89 00:05:13,000 --> 00:05:15,839 Speaker 1: they can do in terms of sanctions and UM, and 90 00:05:15,880 --> 00:05:19,560 Speaker 1: that's a real question what comes next. We will stay 91 00:05:19,600 --> 00:05:21,680 Speaker 1: tuned on what comes next, and I know that we'll 92 00:05:21,680 --> 00:05:24,120 Speaker 1: stay tuned with you. Jody Schneider, thank you so much 93 00:05:24,160 --> 00:05:27,680 Speaker 1: for your time, our political news director. Let's stick with 94 00:05:27,720 --> 00:05:29,400 Speaker 1: the impact of the war in Ukraine. I want to 95 00:05:29,440 --> 00:05:31,400 Speaker 1: bring in Dan Eyes of web Bush for his read 96 00:05:31,440 --> 00:05:33,719 Speaker 1: on it. Dan, I've been reading all your notes in 97 00:05:33,760 --> 00:05:38,240 Speaker 1: the past three weeks and cybersecurity, cybersecurity, cyber security, what 98 00:05:38,279 --> 00:05:40,520 Speaker 1: do you think are going to be within cybersecurity some 99 00:05:40,560 --> 00:05:43,240 Speaker 1: of the biggest Uh. I hate to use the word 100 00:05:43,240 --> 00:05:45,440 Speaker 1: beneficiary because we're talking about a war, but how do 101 00:05:45,480 --> 00:05:47,280 Speaker 1: you sort of see this plane out within your world 102 00:05:47,279 --> 00:05:50,839 Speaker 1: of equity markets. Yeah, we've seen that. I mean there's 103 00:05:51,080 --> 00:05:55,240 Speaker 1: clear elevation of threats. We think upwards in terms of 104 00:05:55,240 --> 00:05:58,599 Speaker 1: the elevation since but we believe as a cyber warfa's 105 00:05:58,640 --> 00:06:01,359 Speaker 1: already underway from Russia. Uh. You look at names like 106 00:06:01,440 --> 00:06:06,680 Speaker 1: pow out of Z Scale or CrowdStrike, Palanteer and Tenable 107 00:06:06,760 --> 00:06:09,239 Speaker 1: in cyber arc, those are really the basket of names 108 00:06:09,240 --> 00:06:13,480 Speaker 1: among many others that benefit. That's how we believe cybersecurity 109 00:06:13,960 --> 00:06:16,279 Speaker 1: spending is gonna be up four to five actual overall. 110 00:06:16,320 --> 00:06:17,960 Speaker 1: I T spend. I think it's gonna be a golden 111 00:06:17,960 --> 00:06:20,919 Speaker 1: age for cyber and right now we're really seeing the 112 00:06:21,000 --> 00:06:25,520 Speaker 1: importance as they protect enterprises as well as many organizations 113 00:06:25,520 --> 00:06:28,880 Speaker 1: and agencies within the Beltway. But does that text spend 114 00:06:29,440 --> 00:06:32,000 Speaker 1: come from somewhere else? Because text mend was supposed to 115 00:06:32,040 --> 00:06:34,640 Speaker 1: be strong coming into this year if I remember correctly, 116 00:06:34,960 --> 00:06:37,520 Speaker 1: But with the FED raising rates, we might be looking 117 00:06:37,560 --> 00:06:39,840 Speaker 1: at a little bit of a slowing economy. If a 118 00:06:39,920 --> 00:06:42,760 Speaker 1: company now has to choose where they spend that tech, 119 00:06:43,080 --> 00:06:45,600 Speaker 1: is it clearly going to be cybersecurity. Does it come 120 00:06:45,640 --> 00:06:48,960 Speaker 1: at the expense of something else? Yeah, it's a great question. 121 00:06:49,040 --> 00:06:51,960 Speaker 1: I think that's where it's really Cloud and cyber security 122 00:06:52,120 --> 00:06:55,760 Speaker 1: are the priorities, and we're seeing cloud budgets in many 123 00:06:55,800 --> 00:07:00,320 Speaker 1: ways up thirty across the board, and cybersecurity go hand 124 00:07:00,320 --> 00:07:02,920 Speaker 1: in hand, so and I think where that's coming from 125 00:07:02,960 --> 00:07:05,680 Speaker 1: in terms of may being negative some of the hardware, 126 00:07:05,800 --> 00:07:08,840 Speaker 1: some of the networking purchases that could be negative for 127 00:07:08,880 --> 00:07:11,200 Speaker 1: the likes of Cisco and others. But I think we've 128 00:07:11,240 --> 00:07:14,280 Speaker 1: really seen there is a bifurcation of tech to work 129 00:07:14,320 --> 00:07:16,240 Speaker 1: from home. The e commerce names, I think a lot 130 00:07:16,320 --> 00:07:19,200 Speaker 1: of them are catching a falling night. You look where 131 00:07:19,240 --> 00:07:24,000 Speaker 1: the spending is, enterprise software, Chips, some of the star warts, Apple, Microsoft. 132 00:07:24,080 --> 00:07:27,000 Speaker 1: In our opinion this week, with the Fed, the tech 133 00:07:27,080 --> 00:07:30,160 Speaker 1: bottom we believe is in once they ripped that band 134 00:07:30,160 --> 00:07:33,280 Speaker 1: aid off this week. Okay, let's talk about that because 135 00:07:33,280 --> 00:07:36,640 Speaker 1: the macro picture DAN is a federal reserve that's raising rates. 136 00:07:36,640 --> 00:07:38,600 Speaker 1: But you're coming off of the tech sector that just 137 00:07:38,680 --> 00:07:40,960 Speaker 1: posted one of the best weeks that we've had since November. 138 00:07:42,040 --> 00:07:44,880 Speaker 1: The headwinds though of raising rates, the pressure that's putting 139 00:07:44,920 --> 00:07:49,240 Speaker 1: on valuations. Why are we at the bottom, Because I 140 00:07:49,280 --> 00:07:51,600 Speaker 1: believe text Doxor is the most over soul we've seen 141 00:07:51,600 --> 00:07:54,720 Speaker 1: in the last five or six years relative to growth, 142 00:07:54,800 --> 00:07:57,000 Speaker 1: and I think what's happened is the risk off trade. 143 00:07:57,000 --> 00:07:59,800 Speaker 1: Everyone's head for the elevators at the same time on 144 00:08:00,080 --> 00:08:04,800 Speaker 1: certainty obviously horrific situation Ukrain, the overall geopolitical but now 145 00:08:04,880 --> 00:08:07,600 Speaker 1: the Fed how they've laid it out, so now the 146 00:08:07,640 --> 00:08:11,559 Speaker 1: bulls and bears could debate it, but now there's less 147 00:08:11,640 --> 00:08:15,960 Speaker 1: uncertainty and combined with what we saw valuations, the compression 148 00:08:16,480 --> 00:08:19,120 Speaker 1: and the growth, you know, and then you look forward. 149 00:08:19,160 --> 00:08:22,040 Speaker 1: I believe, especially in software chips some of the star 150 00:08:22,120 --> 00:08:27,200 Speaker 1: where it plays Microsoft, Google, Apple, among others. In our opinion, 151 00:08:27,200 --> 00:08:29,400 Speaker 1: it's a bright green light to earn tech and I 152 00:08:29,400 --> 00:08:32,080 Speaker 1: think that's what you're starting to see risk on. I 153 00:08:32,120 --> 00:08:34,479 Speaker 1: could tell you a four or five to one investors 154 00:08:34,520 --> 00:08:38,680 Speaker 1: calling us looking for bis versus shorts. Interesting, Dan, I 155 00:08:38,720 --> 00:08:41,000 Speaker 1: wanted to talk about some other headwinds on the way. 156 00:08:41,080 --> 00:08:43,040 Speaker 1: It's so interesting. I think we're all trying to become 157 00:08:43,040 --> 00:08:46,520 Speaker 1: at nickel experts in the last few weeks, the impact 158 00:08:46,600 --> 00:08:49,120 Speaker 1: that it's having on electric vehicles as we're thinking not 159 00:08:49,200 --> 00:08:52,440 Speaker 1: only about oil shortages and cutting off supply from Russia, 160 00:08:52,480 --> 00:08:55,000 Speaker 1: but then the nickel imports as well. In the big 161 00:08:55,120 --> 00:08:57,719 Speaker 1: ramifications it's had in the markets. How do you think 162 00:08:57,760 --> 00:09:01,440 Speaker 1: about e VS batteries, the push forward on that initiative, 163 00:09:01,720 --> 00:09:04,320 Speaker 1: if we're struggling to get our hands on maybe some 164 00:09:04,400 --> 00:09:08,600 Speaker 1: of those raw materials, well, I think that's it's bringing 165 00:09:08,679 --> 00:09:11,720 Speaker 1: up the issue front and center because now price increases, 166 00:09:11,720 --> 00:09:13,960 Speaker 1: and you shut tests to put a price increase this week, 167 00:09:14,679 --> 00:09:17,240 Speaker 1: and you sat X playing and others. Because are the 168 00:09:17,280 --> 00:09:20,200 Speaker 1: average ev is going to increase? It's about anywhere between 169 00:09:20,240 --> 00:09:24,720 Speaker 1: one thousand. Given this, I think it also just speaks 170 00:09:24,720 --> 00:09:26,720 Speaker 1: to what we've seen in terms of raw materials. You're 171 00:09:26,760 --> 00:09:30,040 Speaker 1: gonna see for other sources of raw materials, some could 172 00:09:30,080 --> 00:09:33,560 Speaker 1: say maybe underwater and some other maritime areas start to 173 00:09:33,559 --> 00:09:35,640 Speaker 1: get front and center. But when you look at e 174 00:09:35,760 --> 00:09:39,599 Speaker 1: VS overall, I still view this as not really denting 175 00:09:39,760 --> 00:09:42,319 Speaker 1: overall demand because I think overall, when you look at 176 00:09:42,480 --> 00:09:44,880 Speaker 1: gas and you look what happened in terms of what 177 00:09:44,880 --> 00:09:47,079 Speaker 1: we've see in Europe and across the US, I believe 178 00:09:47,120 --> 00:09:51,560 Speaker 1: it pulls forward needy demand potentially by two to three years, 179 00:09:51,559 --> 00:09:54,599 Speaker 1: given what we've seen with a lot of fen sitting customers. 180 00:09:55,080 --> 00:09:58,800 Speaker 1: Price increases there and nickel, but overall the demand continues 181 00:09:58,840 --> 00:10:00,640 Speaker 1: to be just massively pen up. Any think a lot 182 00:10:00,640 --> 00:10:03,400 Speaker 1: of these stocks way over sold, Tesla front and center, 183 00:10:03,559 --> 00:10:07,640 Speaker 1: Except what about it wasn't Tesla but another EV maker 184 00:10:07,720 --> 00:10:10,160 Speaker 1: who tried to do price increases and then got some 185 00:10:10,240 --> 00:10:12,520 Speaker 1: backlash and had to roll it back. Are you worried 186 00:10:12,520 --> 00:10:16,199 Speaker 1: about a consumer who, maybe with broader inflation, is feeling 187 00:10:16,200 --> 00:10:18,800 Speaker 1: panged and says, no, I'm not going to accept that 188 00:10:18,840 --> 00:10:21,000 Speaker 1: price increase. How do you then think about the impact 189 00:10:21,000 --> 00:10:24,400 Speaker 1: on margins. Yeah, and when you talk about Rivy and 190 00:10:24,400 --> 00:10:26,360 Speaker 1: the price to increase in the media called but I 191 00:10:26,360 --> 00:10:30,400 Speaker 1: mean that was a disaster. Try the thirteenth episode, which 192 00:10:30,440 --> 00:10:33,200 Speaker 1: continues to being the overhanging, the head scratcher in terms 193 00:10:33,200 --> 00:10:35,160 Speaker 1: of what they did. But when you look at Tesla, 194 00:10:35,640 --> 00:10:39,000 Speaker 1: I compare those price increases much more modest to the 195 00:10:39,040 --> 00:10:41,640 Speaker 1: likes of Netflix raising prices and what you saw an 196 00:10:41,640 --> 00:10:44,880 Speaker 1: app Amazon in terms of prime just stal warts know 197 00:10:45,160 --> 00:10:49,360 Speaker 1: that they can increase prices in minimal demand impact. So 198 00:10:49,440 --> 00:10:52,200 Speaker 1: I think you campaign across the board with the same brush. 199 00:10:52,559 --> 00:10:55,080 Speaker 1: I think Tesla in terms of price increases, we could 200 00:10:55,080 --> 00:10:57,240 Speaker 1: still see you know, the two to three k a 201 00:10:57,280 --> 00:11:00,199 Speaker 1: price increases and right now demands out stripping some Why 202 00:11:00,320 --> 00:11:06,040 Speaker 1: today by about Dan. I'ves web Bush really appreciate it. 203 00:11:06,080 --> 00:11:08,160 Speaker 1: Love getting you here on this program. Have a great 204 00:11:08,200 --> 00:11:10,960 Speaker 1: weekend coming up. We are going to be sticking with 205 00:11:11,000 --> 00:11:12,960 Speaker 1: sort of this theme of Ukraine and be talking to 206 00:11:13,000 --> 00:11:16,120 Speaker 1: the man behind the one Kate project. It helps Ukrainian 207 00:11:16,160 --> 00:11:18,920 Speaker 1: families who've been displaced by the war. We're going to 208 00:11:19,000 --> 00:11:21,840 Speaker 1: discuss how he's managed to get millions of dollars in 209 00:11:21,880 --> 00:11:25,120 Speaker 1: the hands of those who need it most. This is bloomberg. 210 00:11:40,800 --> 00:11:43,160 Speaker 1: As we watched day after day the horrific images that 211 00:11:43,240 --> 00:11:45,800 Speaker 1: come out of Ukraine, many have wondered how to help 212 00:11:46,240 --> 00:11:49,800 Speaker 1: mere days after Russia attacks Ukraine. My next guest decided 213 00:11:49,840 --> 00:11:53,520 Speaker 1: to help families in need by getting money directly to them. 214 00:11:53,600 --> 00:11:56,480 Speaker 1: He's helped more than two thousand families so far, all 215 00:11:56,559 --> 00:11:59,840 Speaker 1: thanks to people donating about a thousand dollars to sponsor 216 00:12:00,080 --> 00:12:02,920 Speaker 1: a family. Joining me now is alex Is called. He 217 00:12:03,040 --> 00:12:05,400 Speaker 1: is the founder of the one k Project. He was 218 00:12:05,400 --> 00:12:08,800 Speaker 1: also born and raised in Ukraine before fleeing the country 219 00:12:09,160 --> 00:12:12,880 Speaker 1: during the Cold War. So you unfortunately know all of 220 00:12:12,920 --> 00:12:16,080 Speaker 1: this too familiarly and talk to me about sort of 221 00:12:16,080 --> 00:12:18,160 Speaker 1: how you set this up to make sure that the 222 00:12:18,200 --> 00:12:22,280 Speaker 1: money really was going to those families. Yeah. Absolutely, I 223 00:12:22,320 --> 00:12:25,240 Speaker 1: mean the premise of the project is simple. It's families 224 00:12:25,280 --> 00:12:28,640 Speaker 1: in US and around the world sending one key directly 225 00:12:28,800 --> 00:12:32,240 Speaker 1: to families in bucted by the war in Ukraine, and 226 00:12:32,679 --> 00:12:35,720 Speaker 1: this is sort of direct human to human help is 227 00:12:35,760 --> 00:12:39,800 Speaker 1: the best way to help families at scale. How do 228 00:12:39,880 --> 00:12:43,080 Speaker 1: you then make sure though, that it isn't overtaken by 229 00:12:44,600 --> 00:12:47,320 Speaker 1: I don't know, people who were taking money away from it, right, 230 00:12:47,320 --> 00:12:49,160 Speaker 1: because you want all of that money really to go 231 00:12:49,240 --> 00:12:51,280 Speaker 1: to those in need. How can you ensure the people 232 00:12:51,280 --> 00:12:53,600 Speaker 1: who are donating that that money, in a hundred percent 233 00:12:53,640 --> 00:12:56,800 Speaker 1: of it is really going to those families. Yeah, well, 234 00:12:56,840 --> 00:12:59,640 Speaker 1: this is a great question. And first off, we're not 235 00:12:59,760 --> 00:13:02,880 Speaker 1: an on profits, so we basically take no fees. We 236 00:13:03,400 --> 00:13:06,559 Speaker 1: match sponsors who go to one Key project dot org 237 00:13:06,760 --> 00:13:09,560 Speaker 1: and it literally takes ten minutes to sign up. We 238 00:13:09,640 --> 00:13:12,960 Speaker 1: then have a queue of families that were vetted based 239 00:13:13,040 --> 00:13:18,440 Speaker 1: on the applications, and our volunteers literally reading these application 240 00:13:18,520 --> 00:13:23,080 Speaker 1: applications around the clock. And so once you know, once 241 00:13:23,120 --> 00:13:25,800 Speaker 1: you sign up as a sponsor, you basically get matched 242 00:13:25,840 --> 00:13:28,480 Speaker 1: to the family and you get instructions for how to 243 00:13:28,559 --> 00:13:33,080 Speaker 1: send money directly to their bank. Account. I mean, it's 244 00:13:33,080 --> 00:13:35,520 Speaker 1: really a wonderful project that you're doing, Alex. I am 245 00:13:35,559 --> 00:13:38,000 Speaker 1: curious what you're hearing from families on the ground. We've 246 00:13:38,040 --> 00:13:41,800 Speaker 1: just seen the horrific images images after images. What they're 247 00:13:41,800 --> 00:13:44,880 Speaker 1: telling you about, how they're trying to continue to contact you, 248 00:13:44,920 --> 00:13:47,720 Speaker 1: trying to continue to talk to donors from around the 249 00:13:47,720 --> 00:13:51,120 Speaker 1: world while they are literally in the middle of a war. Yeah, 250 00:13:51,200 --> 00:13:54,360 Speaker 1: and and you're you're absolutely right. I mean, we we 251 00:13:54,480 --> 00:13:57,120 Speaker 1: are able to help families in war zones who lost 252 00:13:57,120 --> 00:13:59,600 Speaker 1: their homes, were able to help families who are displaced 253 00:13:59,640 --> 00:14:02,439 Speaker 1: with a new grain, and also families who are refugees. 254 00:14:02,520 --> 00:14:05,880 Speaker 1: And consistent thing that we're here we're hearing from them 255 00:14:06,040 --> 00:14:10,360 Speaker 1: is they need money for absolute basics like food, clothing 256 00:14:10,440 --> 00:14:15,000 Speaker 1: for children, grant and increasingly people in Ukraine need money 257 00:14:15,080 --> 00:14:18,920 Speaker 1: to be able to move out. And so we are 258 00:14:19,200 --> 00:14:24,520 Speaker 1: absolutely flooded with incredible gratitude and love that also underscores 259 00:14:24,800 --> 00:14:28,920 Speaker 1: really like strength and resilience of Ukrainian people and just 260 00:14:29,040 --> 00:14:34,440 Speaker 1: how meaningful this money is. A thousand dollars helps them, 261 00:14:34,480 --> 00:14:37,040 Speaker 1: you know, helps families with like three to four people, 262 00:14:37,080 --> 00:14:41,200 Speaker 1: primarily you know, single mothers and people who just are 263 00:14:41,240 --> 00:14:44,160 Speaker 1: not able to generate income in any other way, and 264 00:14:44,200 --> 00:14:47,280 Speaker 1: so it's exceptionally meaningful. Alex talk to us about that 265 00:14:47,360 --> 00:14:50,840 Speaker 1: long term resilience. We've been having a lot of conversations, 266 00:14:50,880 --> 00:14:53,440 Speaker 1: of course in the middle of this the humanitarian toll, 267 00:14:53,560 --> 00:14:56,120 Speaker 1: but long term, how you think. We just spoke with 268 00:14:56,160 --> 00:14:59,040 Speaker 1: the Economic advisor right to the President of Ukraine about 269 00:14:59,040 --> 00:15:02,200 Speaker 1: how you rebuild the roads, the bridges, the schools, the 270 00:15:02,280 --> 00:15:05,640 Speaker 1: apartment buildings. Long term, how are you thinking about helping 271 00:15:05,680 --> 00:15:08,680 Speaker 1: to sort of being able to rebuild if if people 272 00:15:08,840 --> 00:15:13,440 Speaker 1: can return to Ukraine at some point. Yeah, and you know, Taylor, honestly, 273 00:15:13,560 --> 00:15:15,880 Speaker 1: I wish we can stop tomorrow. I wish, I mean, 274 00:15:15,920 --> 00:15:18,440 Speaker 1: I certainly wish every day the war stops immediately. But 275 00:15:18,520 --> 00:15:22,520 Speaker 1: the problem is devastation is so big and the displacement 276 00:15:22,600 --> 00:15:24,960 Speaker 1: is so large, There's so many refugees. It's going to 277 00:15:25,040 --> 00:15:28,080 Speaker 1: take months and years to rebuild. And so the project 278 00:15:28,680 --> 00:15:31,840 Speaker 1: has its meaning and the North Star like, our goal 279 00:15:32,000 --> 00:15:34,480 Speaker 1: is to help as many families as we possibly can. 280 00:15:34,640 --> 00:15:37,920 Speaker 1: So to date we've been able to um We've raised 281 00:15:38,000 --> 00:15:40,480 Speaker 1: over two point seven million as of right now and 282 00:15:40,600 --> 00:15:45,760 Speaker 1: helped over families. We have thirty five thousand applications and 283 00:15:45,800 --> 00:15:48,680 Speaker 1: we know that there's about three million or more refugees, 284 00:15:48,760 --> 00:15:51,480 Speaker 1: and so we've got a really long way to go. 285 00:15:51,680 --> 00:15:55,400 Speaker 1: And you know, every thousand dollar counts because you know, 286 00:15:55,640 --> 00:15:57,880 Speaker 1: you can make a difference in an input. And so 287 00:15:58,360 --> 00:16:02,360 Speaker 1: our mission is to tenue through absolutely the end of 288 00:16:02,440 --> 00:16:05,520 Speaker 1: the war, but more importantly really be the bridge to 289 00:16:05,600 --> 00:16:09,240 Speaker 1: help these Ukrainian families to come back home and to rebuild. 290 00:16:09,880 --> 00:16:12,480 Speaker 1: Really well, said alex Is Cold, founder of the one 291 00:16:12,560 --> 00:16:16,080 Speaker 1: K Project for Ukraine. Really appreciate your time. Thank you. 292 00:16:24,200 --> 00:16:28,000 Speaker 1: It's the return of in person events quick takes. Attison 293 00:16:28,080 --> 00:16:31,040 Speaker 1: Mills speaks to the south By Southwest attendees in Austin, 294 00:16:31,120 --> 00:16:34,560 Speaker 1: Texas as the conference returns for the first time since 295 00:16:34,560 --> 00:16:38,200 Speaker 1: the start of the pandemic. Take a listen. We're here 296 00:16:38,200 --> 00:16:40,880 Speaker 1: at south By Southwest in Austin, Texas for the first 297 00:16:40,880 --> 00:16:44,040 Speaker 1: time in three years now. This conference used to draw 298 00:16:44,120 --> 00:16:46,800 Speaker 1: over half a million people to the Austin area, but 299 00:16:46,840 --> 00:16:50,000 Speaker 1: in March it was canceled due to the pandemic. So 300 00:16:50,040 --> 00:16:52,120 Speaker 1: what's it like to be back. Let's talk to people 301 00:16:52,320 --> 00:16:55,560 Speaker 1: by out huge south By canceling twenty was like a 302 00:16:55,600 --> 00:16:58,680 Speaker 1: really big moment I thankful for like the world in 303 00:16:58,760 --> 00:17:01,760 Speaker 1: my career professionally was nine months planning and activation to 304 00:17:01,800 --> 00:17:04,159 Speaker 1: come back, and three days before we took off at 305 00:17:04,200 --> 00:17:06,280 Speaker 1: all canceled and you can feel the excitement in the air, 306 00:17:06,440 --> 00:17:08,480 Speaker 1: like people are really excited to be back and ready 307 00:17:08,520 --> 00:17:10,320 Speaker 1: to be back. How does it feel to be back 308 00:17:10,400 --> 00:17:13,400 Speaker 1: after three years of no South buy a really good 309 00:17:14,600 --> 00:17:17,280 Speaker 1: How often does this happen where people just take your picture? 310 00:17:17,400 --> 00:17:21,480 Speaker 1: I mean with this on, come on? So obviously canceled 311 00:17:21,520 --> 00:17:24,439 Speaker 1: back in we're back for the first time in three years. 312 00:17:24,880 --> 00:17:28,040 Speaker 1: What's the biggest change that you've noticed? People are definitely 313 00:17:28,119 --> 00:17:30,720 Speaker 1: a lot more patient instead of being huddled up against 314 00:17:30,720 --> 00:17:33,040 Speaker 1: each other. There's just a really good energy here. Everyone's 315 00:17:33,080 --> 00:17:35,880 Speaker 1: really excited to see what the new exhibitions bring and 316 00:17:36,000 --> 00:17:38,520 Speaker 1: just seeing blockchain and n f t s and more 317 00:17:38,560 --> 00:17:40,560 Speaker 1: crypto coming to like the main front. I think that's 318 00:17:40,600 --> 00:17:42,720 Speaker 1: probably the coolest thing. Do you feel like there's much 319 00:17:42,760 --> 00:17:45,480 Speaker 1: focus on COVID or people just kind of ready to 320 00:17:45,520 --> 00:17:48,200 Speaker 1: block it out nas Is, Texas. I don't think anybody's 321 00:17:48,240 --> 00:17:50,800 Speaker 1: too worried about it. It seems like there's a littless people. Honestly, 322 00:17:50,840 --> 00:17:52,400 Speaker 1: it doesn't feel like it's quite as busy as it's 323 00:17:52,400 --> 00:17:54,359 Speaker 1: been a year's past, and I think there's also just 324 00:17:54,400 --> 00:17:56,679 Speaker 1: like the rules of of COVID and staying safe, you know, 325 00:17:56,720 --> 00:17:58,320 Speaker 1: we have to have the clear up with us and 326 00:17:58,359 --> 00:18:01,240 Speaker 1: have masks and trying to navigate where and when it's 327 00:18:01,280 --> 00:18:04,080 Speaker 1: safe to be masked and unmasked. Mixed bag. I feel 328 00:18:04,080 --> 00:18:06,280 Speaker 1: like I'm seeing maths. I'm saying no math I think 329 00:18:06,280 --> 00:18:08,280 Speaker 1: people aren't excited to be back in person um. They're 330 00:18:08,280 --> 00:18:10,399 Speaker 1: trying to do it as safely as possible. So whatever 331 00:18:10,440 --> 00:18:12,399 Speaker 1: that looks like to them. I like that it's almost 332 00:18:12,400 --> 00:18:15,159 Speaker 1: a smaller scale. It doesn't feel as busy as other 333 00:18:15,280 --> 00:18:18,040 Speaker 1: south By. It's definitely a little bit smaller this time around. 334 00:18:18,040 --> 00:18:21,560 Speaker 1: For sure, small crowds are bad for small businesses. Bars 335 00:18:21,600 --> 00:18:24,119 Speaker 1: and restaurants in Austin used to make half their yearly 336 00:18:24,200 --> 00:18:26,960 Speaker 1: revenue just from south By Southwest alone. That may be 337 00:18:27,080 --> 00:18:30,240 Speaker 1: harder with smaller crowds. But those who are here, including me, 338 00:18:30,520 --> 00:18:32,600 Speaker 1: are ready to dive right in a lot of the 339 00:18:32,640 --> 00:18:35,200 Speaker 1: local bars over on Rainy Street. This is like their 340 00:18:35,200 --> 00:18:37,959 Speaker 1: life blood, these events. I'm super happy that we can 341 00:18:38,000 --> 00:18:40,119 Speaker 1: have it and get keep them in business. It seems 342 00:18:40,160 --> 00:18:43,159 Speaker 1: like business is back, and this is such a huge opportunity, 343 00:18:43,240 --> 00:18:45,680 Speaker 1: such a huge travel destination. But I think it's gonna 344 00:18:45,680 --> 00:18:50,960 Speaker 1: be really great for everybody. Quick takes Madison Mills, who 345 00:18:50,960 --> 00:19:02,440 Speaker 1: gets all the fun assignments. This is Blimberg Technology. I'm 346 00:19:02,480 --> 00:19:05,080 Speaker 1: Taylor Riggs in New York in for Emily Chang and 347 00:19:05,320 --> 00:19:08,080 Speaker 1: Equal Pay Day. It was this week and it's an 348 00:19:08,080 --> 00:19:11,119 Speaker 1: opportunity to shed a new light on what more needs 349 00:19:11,160 --> 00:19:14,479 Speaker 1: to be done to ensure pay equity between men and women, 350 00:19:14,880 --> 00:19:17,399 Speaker 1: which is something my next guest has been fighting for 351 00:19:17,520 --> 00:19:20,280 Speaker 1: at Credit Carma ever since you joined the company back in. 352 00:19:21,440 --> 00:19:25,399 Speaker 1: Colleen McCreary, chief People Officer, joins us. Now, great to 353 00:19:25,440 --> 00:19:27,080 Speaker 1: have you, and I first want to start, you know, 354 00:19:27,080 --> 00:19:28,760 Speaker 1: because you think of Credit Carma and you think of 355 00:19:29,040 --> 00:19:31,520 Speaker 1: it's within the tech sector. And that's really, I think, 356 00:19:31,760 --> 00:19:34,359 Speaker 1: from my knowledge, where some of the worst discrepancies have 357 00:19:34,480 --> 00:19:38,560 Speaker 1: been when it comes to uh equal pay. What sort 358 00:19:38,560 --> 00:19:41,119 Speaker 1: of the backdrop of the numbers behind you know, not 359 00:19:41,200 --> 00:19:44,480 Speaker 1: only all sectors, but specifically tech sector as well, And 360 00:19:44,520 --> 00:19:48,920 Speaker 1: are we any closer to closing that gap? Well, the 361 00:19:49,080 --> 00:19:52,280 Speaker 1: unfortunate reality is that what we're still seeing is that 362 00:19:52,359 --> 00:19:55,520 Speaker 1: women only make up about what of what a man 363 00:19:55,560 --> 00:19:59,280 Speaker 1: makes um and almost any job. And and you know, 364 00:19:59,680 --> 00:20:02,000 Speaker 1: I don't necessarily know if tech is any better or 365 00:20:02,040 --> 00:20:05,640 Speaker 1: any worse, but I think tech is so competitive that 366 00:20:05,720 --> 00:20:08,800 Speaker 1: it puts a big light on the talent shortage and 367 00:20:08,840 --> 00:20:10,560 Speaker 1: the fact that they're not, you know, doing a great 368 00:20:10,640 --> 00:20:13,960 Speaker 1: job of keeping and retaining their women, which obviously will 369 00:20:14,000 --> 00:20:16,359 Speaker 1: come back down to how people are treated and how 370 00:20:16,359 --> 00:20:19,560 Speaker 1: they're paid. What did you do then in Credit carmas 371 00:20:19,640 --> 00:20:22,439 Speaker 1: you think about coming in in eighteen and some of 372 00:20:22,440 --> 00:20:25,439 Speaker 1: the changes that you've found that really have worked and 373 00:20:25,480 --> 00:20:29,600 Speaker 1: have stuck. Yes, So when I joined in eighteen, to 374 00:20:29,640 --> 00:20:32,399 Speaker 1: put it in perspective of Credit carmis history, it was 375 00:20:32,440 --> 00:20:34,359 Speaker 1: a start up for a long time. It was about 376 00:20:34,400 --> 00:20:38,359 Speaker 1: seven hundred employees, and they had a massive attrition problem, 377 00:20:38,480 --> 00:20:43,320 Speaker 1: um so almost attrition and also recruiting problem. And you know, 378 00:20:43,359 --> 00:20:45,920 Speaker 1: the other piece was that their employees and employee surveys 379 00:20:45,960 --> 00:20:48,000 Speaker 1: didn't believe that their pay was fair. And frankly, when 380 00:20:48,000 --> 00:20:50,359 Speaker 1: I got there, I didn't understand how the employees were 381 00:20:50,359 --> 00:20:53,280 Speaker 1: being paid either, and so you know, it took a 382 00:20:53,320 --> 00:20:55,919 Speaker 1: bit of a journey to get there. Uh, And we 383 00:20:56,000 --> 00:20:58,719 Speaker 1: moved to this system called role based pay, and instead 384 00:20:58,760 --> 00:21:02,200 Speaker 1: of using ranges and instead of using like a performance 385 00:21:02,240 --> 00:21:05,040 Speaker 1: review once a year and moving somebody's pay you five 386 00:21:05,040 --> 00:21:07,840 Speaker 1: thousand dollars or two thousand dollars. There, everybody who is 387 00:21:07,840 --> 00:21:10,040 Speaker 1: in the same job gets paid the exact same thing, 388 00:21:10,480 --> 00:21:15,640 Speaker 1: regardless of how long they've been there and what gender 389 00:21:15,680 --> 00:21:18,320 Speaker 1: they are or where they worked before. Is that that 390 00:21:18,480 --> 00:21:21,239 Speaker 1: flash to that? Though? Sorry just to jump in. If 391 00:21:21,640 --> 00:21:26,199 Speaker 1: someone for longer and I've committed and I've devoted myself 392 00:21:26,240 --> 00:21:29,719 Speaker 1: to this company, I think that's a great question. Actually, 393 00:21:29,800 --> 00:21:34,080 Speaker 1: what we've seen as the opposite, our attrition, frankly, even 394 00:21:34,080 --> 00:21:37,760 Speaker 1: now is the lowest it's ever been. UM. And the 395 00:21:37,800 --> 00:21:39,840 Speaker 1: other thing that we saw is that the offers that 396 00:21:39,960 --> 00:21:42,960 Speaker 1: were accepted, uh. And what we you know, for the 397 00:21:43,000 --> 00:21:48,000 Speaker 1: most part, employees really embraced the idea that they thought 398 00:21:48,080 --> 00:21:51,200 Speaker 1: it was the most fair way of being rewarded, and 399 00:21:51,320 --> 00:21:54,680 Speaker 1: they they understood where their pay came from, how we 400 00:21:54,680 --> 00:21:57,200 Speaker 1: were determining it, and we reviewed it twice a year 401 00:21:57,240 --> 00:22:00,240 Speaker 1: and made adjustments. UM. And so we saw the act 402 00:22:00,240 --> 00:22:03,280 Speaker 1: opposite of what you're explaining. Interesting, how do you compensate 403 00:22:03,320 --> 00:22:06,040 Speaker 1: then for experience? I know that we talked some about 404 00:22:06,040 --> 00:22:08,199 Speaker 1: loyalty to a company, but take that out someone just 405 00:22:08,240 --> 00:22:11,240 Speaker 1: who's has more time and maybe more knowledge in the industry. 406 00:22:11,280 --> 00:22:13,399 Speaker 1: Do you argue then that, well, they're at a different 407 00:22:13,520 --> 00:22:15,480 Speaker 1: role with the higher pay, and that's sort of how 408 00:22:15,520 --> 00:22:20,399 Speaker 1: you can sort of equalize, uh, that experience gap. So 409 00:22:20,440 --> 00:22:22,720 Speaker 1: what we did is actually we've built a job framework 410 00:22:22,800 --> 00:22:25,119 Speaker 1: for all of our functions and we got very clear 411 00:22:25,119 --> 00:22:27,640 Speaker 1: on what was expected of each role, and so where 412 00:22:27,640 --> 00:22:30,440 Speaker 1: somebody interviews and they come in, they're slotted in. You know, 413 00:22:30,440 --> 00:22:32,600 Speaker 1: if you're a software engineer, maybe you're a software engineer 414 00:22:32,600 --> 00:22:35,439 Speaker 1: one or your software engineer four, and it's based on, 415 00:22:35,840 --> 00:22:37,960 Speaker 1: you know, a combination of your experience, what your skills 416 00:22:38,000 --> 00:22:40,160 Speaker 1: for that role. And we posted those so that people 417 00:22:40,160 --> 00:22:42,359 Speaker 1: were very clear and what the expectations were. And we 418 00:22:42,480 --> 00:22:44,920 Speaker 1: moved to doing promotions four times a year so people 419 00:22:44,920 --> 00:22:47,840 Speaker 1: weren't sitting around waiting to be recognized for their work, 420 00:22:48,240 --> 00:22:52,199 Speaker 1: and providing that level of clarity and the opportunity of 421 00:22:52,280 --> 00:22:54,879 Speaker 1: knowing when they were going to be reviewed and building 422 00:22:54,920 --> 00:22:58,760 Speaker 1: out an actual calibration so that everybody who's being considered 423 00:22:58,800 --> 00:23:01,680 Speaker 1: for promotion at that point in time was being considered 424 00:23:01,720 --> 00:23:04,399 Speaker 1: against the same framework and each and every team that 425 00:23:04,440 --> 00:23:06,600 Speaker 1: we had, and then we were able to assess and 426 00:23:06,680 --> 00:23:09,480 Speaker 1: root out if there were potential for biases, and how 427 00:23:09,520 --> 00:23:12,119 Speaker 1: do we necessarily make sure that all of the managers 428 00:23:12,160 --> 00:23:15,720 Speaker 1: are looking for the right skills. But providing that transparency 429 00:23:15,760 --> 00:23:18,800 Speaker 1: and clarity to employees really helped a lot in making 430 00:23:18,840 --> 00:23:22,440 Speaker 1: people believe and understand that they were being paid equitably 431 00:23:22,560 --> 00:23:25,360 Speaker 1: for their experience and their contribution. I think the keyword 432 00:23:25,400 --> 00:23:27,800 Speaker 1: you said is transparency. And I think in the past, 433 00:23:27,840 --> 00:23:30,040 Speaker 1: maybe companies have said that you don't talk about your 434 00:23:30,040 --> 00:23:34,880 Speaker 1: pay with other people, and corporations haven't always told other 435 00:23:35,040 --> 00:23:38,040 Speaker 1: people what their colleague is making. How much of this 436 00:23:38,160 --> 00:23:41,280 Speaker 1: really does come back down to transparency, maybe on the 437 00:23:41,359 --> 00:23:45,920 Speaker 1: corporation's side. Well, I mean, first of all, it's illegal 438 00:23:46,040 --> 00:23:48,359 Speaker 1: for corporations to tel employees that they can't talk to 439 00:23:48,400 --> 00:23:50,760 Speaker 1: each other about their pay. I actually think employees should 440 00:23:50,760 --> 00:23:53,760 Speaker 1: talk to each other. I personally don't put somebody's pay 441 00:23:53,840 --> 00:23:56,280 Speaker 1: up on a corporate internet site or say you know 442 00:23:56,560 --> 00:24:00,159 Speaker 1: what everybody is making. You can't unsee pay decisions. And 443 00:24:00,440 --> 00:24:02,719 Speaker 1: I think at the end of the day, frankly, compensation 444 00:24:02,800 --> 00:24:06,439 Speaker 1: is inherently an unfair thing. It's market driven, it's supply 445 00:24:06,560 --> 00:24:09,560 Speaker 1: and demand. But I'm not going to out somebody who 446 00:24:09,640 --> 00:24:12,000 Speaker 1: is not comfortable with somebody else seeing what they're paid, 447 00:24:12,400 --> 00:24:14,119 Speaker 1: but if they want to share it amongst themselves, I 448 00:24:14,160 --> 00:24:16,400 Speaker 1: think it's a great skill and I think it really 449 00:24:16,520 --> 00:24:19,720 Speaker 1: drives on you know, it's a check on the you know, corporation. 450 00:24:19,760 --> 00:24:21,280 Speaker 1: Are they doing the right thing? Are we living our 451 00:24:21,359 --> 00:24:24,360 Speaker 1: values and what we've stated. And also then employees can 452 00:24:24,400 --> 00:24:28,640 Speaker 1: potentially understand amongst themselves, you know, how each role does pay. 453 00:24:28,680 --> 00:24:31,800 Speaker 1: A lot of our viewers are investors, and I'm curious 454 00:24:31,800 --> 00:24:34,120 Speaker 1: as we think about the rise of e SC maybe 455 00:24:34,200 --> 00:24:36,960 Speaker 1: the role that pay equity has to do with sort 456 00:24:37,000 --> 00:24:39,240 Speaker 1: of trickling down not only to the top and then 457 00:24:39,280 --> 00:24:42,160 Speaker 1: to the bottom line. What advice would you give companies 458 00:24:42,160 --> 00:24:44,040 Speaker 1: and some of the positive changes they can make and 459 00:24:44,160 --> 00:24:46,480 Speaker 1: any sort of then positive impact it may have on 460 00:24:46,520 --> 00:24:49,800 Speaker 1: the company and the bottom line. Well, I think I 461 00:24:49,800 --> 00:24:53,000 Speaker 1: would you know, start with that pay program that we 462 00:24:53,080 --> 00:24:56,920 Speaker 1: put into place. You know, if we reduced attrition by 463 00:24:57,000 --> 00:24:59,760 Speaker 1: two thirds as soon as we roll this out um, 464 00:24:59,800 --> 00:25:01,879 Speaker 1: and then like I said, our acceptance rate went up 465 00:25:01,960 --> 00:25:04,480 Speaker 1: quite substantially for offers being acceptance, So just from a 466 00:25:04,480 --> 00:25:08,040 Speaker 1: talent perspective of keeping and attracting the right employees, which 467 00:25:08,240 --> 00:25:10,479 Speaker 1: certainly has an impact on your bottom line, and if 468 00:25:10,480 --> 00:25:13,160 Speaker 1: I look at Credit Carma in particular, we definitely had 469 00:25:13,160 --> 00:25:16,480 Speaker 1: a rough twenty with COVID. We were affected by the pandemic. 470 00:25:16,680 --> 00:25:19,119 Speaker 1: We're going through an acquisition by into It at the time. 471 00:25:19,480 --> 00:25:21,840 Speaker 1: But since then, you know, we've had record quarters in 472 00:25:22,720 --> 00:25:25,760 Speaker 1: one and into two, so and I think, you know 473 00:25:25,840 --> 00:25:27,960 Speaker 1: a lot of that speaks to the talent that we've 474 00:25:28,000 --> 00:25:30,000 Speaker 1: been able to attract and to keep in our business. 475 00:25:30,520 --> 00:25:35,040 Speaker 1: Really appreciate it, Colleen McQuary, the Credit Carma Chief People officer, 476 00:25:35,359 --> 00:25:39,200 Speaker 1: Appreciate your time. Now let's move on by Well, we're 477 00:25:39,200 --> 00:25:42,119 Speaker 1: going south, going south by southwest today, we're going to 478 00:25:42,200 --> 00:25:44,399 Speaker 1: bring you the company which won the Best Content in 479 00:25:44,520 --> 00:25:48,720 Speaker 1: Gaming Startup rewarded this year's Pitch contest. Action Faces, the 480 00:25:48,760 --> 00:25:52,480 Speaker 1: first three D scanning map that instantly transforms users into 481 00:25:52,520 --> 00:25:56,600 Speaker 1: three D action figures and they can customize and purchase. 482 00:25:56,680 --> 00:25:59,639 Speaker 1: Bloomberg's Quick Take caught up with CEO Kenny Davis at 483 00:25:59,640 --> 00:26:03,600 Speaker 1: the event. Take a listen. What we do is we 484 00:26:03,680 --> 00:26:06,320 Speaker 1: three D scan you with phone in your pocket and 485 00:26:06,359 --> 00:26:10,680 Speaker 1: then allow you to customize the heroic version of you, 486 00:26:10,920 --> 00:26:13,760 Speaker 1: kind of like making a video game avatar. When you're ready, 487 00:26:14,600 --> 00:26:21,640 Speaker 1: make your action face as long as the entertainment industry 488 00:26:21,640 --> 00:26:24,560 Speaker 1: has existed, there's been this sort of business problem, which 489 00:26:24,600 --> 00:26:26,960 Speaker 1: is that you can't just make one hero that everyone 490 00:26:27,040 --> 00:26:30,359 Speaker 1: can identify with. And so the sea change for the 491 00:26:30,480 --> 00:26:34,000 Speaker 1: entertainment industry is, what if you could make every person 492 00:26:34,119 --> 00:26:36,760 Speaker 1: the hero? And one of the things that's important to 493 00:26:36,840 --> 00:26:39,679 Speaker 1: understand about what we're doing is we are making action 494 00:26:39,760 --> 00:26:42,560 Speaker 1: figures who are also creating a digital version of each 495 00:26:42,600 --> 00:26:46,720 Speaker 1: person that can be used across media. Ultimately, what we're 496 00:26:46,720 --> 00:26:49,240 Speaker 1: building is that sort of on ramp into the metaverse. 497 00:26:57,400 --> 00:26:59,840 Speaker 1: So I worked for MATEL and I work for Hasbro. 498 00:27:00,240 --> 00:27:02,199 Speaker 1: Every time a v I P would visit, whether it 499 00:27:02,280 --> 00:27:05,840 Speaker 1: was the CEO of a big retailer or a celebrity, 500 00:27:06,480 --> 00:27:08,720 Speaker 1: we would make them a doll or an action figure 501 00:27:08,800 --> 00:27:12,119 Speaker 1: that look like them because everybody loves seeing themselves in 502 00:27:12,240 --> 00:27:15,680 Speaker 1: some sort of heroic world. So we knew people had 503 00:27:15,880 --> 00:27:18,320 Speaker 1: understood the concept immediately and that if we could just 504 00:27:18,320 --> 00:27:20,960 Speaker 1: scale that business, then you know, we had a hit 505 00:27:20,960 --> 00:27:24,120 Speaker 1: on our hands. The problem was that just the manual 506 00:27:24,320 --> 00:27:28,320 Speaker 1: labor and the supply chain issues of the technology at 507 00:27:28,320 --> 00:27:32,000 Speaker 1: the time couldn't scale. So in two thousand eighteen, Apple 508 00:27:32,040 --> 00:27:34,520 Speaker 1: added face i D hardware to their iPhones, and that's 509 00:27:34,560 --> 00:27:37,480 Speaker 1: where I saw the opportunity and I recruited this dream 510 00:27:37,520 --> 00:27:47,520 Speaker 1: team to bring this to life. We are so honored 511 00:27:47,560 --> 00:27:50,080 Speaker 1: to be here at south By Southwest who've just won 512 00:27:50,280 --> 00:27:54,520 Speaker 1: the Pitch competition in the Entertainment Content and Gaming category. 513 00:27:54,760 --> 00:27:56,800 Speaker 1: So the next thing for us to do is we're 514 00:27:56,880 --> 00:27:58,720 Speaker 1: raising a little bit of money so that we can 515 00:27:58,760 --> 00:28:02,040 Speaker 1: take this experience and bring it to stadiums and theme parks. 516 00:28:02,320 --> 00:28:05,359 Speaker 1: Imagine going to a stadium, getting yourself three D scan 517 00:28:05,760 --> 00:28:08,920 Speaker 1: and then during the TV break seeing your animation up 518 00:28:08,920 --> 00:28:10,960 Speaker 1: on the Jungo tron. This is what we want to 519 00:28:10,960 --> 00:28:18,560 Speaker 1: start bringing to people. Like I said, she always gets 520 00:28:18,600 --> 00:28:22,080 Speaker 1: the fun assignments. That was Action Faced CEO Kenny Davis, 521 00:28:22,119 --> 00:28:25,720 Speaker 1: south By Southwest and coming up Bitcoin, it's stuck in 522 00:28:25,760 --> 00:28:27,679 Speaker 1: a little bit of a trading range here with the 523 00:28:27,680 --> 00:28:32,399 Speaker 1: FED signaling additional tightening and yes, increasing interest rates. What 524 00:28:32,520 --> 00:28:35,679 Speaker 1: can help jump start the crypto industry once again? Big 525 00:28:35,720 --> 00:28:57,080 Speaker 1: discussion coming up next. This is Limburg time now for 526 00:28:57,120 --> 00:28:59,720 Speaker 1: a crypto report. You think it's the weekend, the crypto 527 00:29:00,160 --> 00:29:04,040 Speaker 1: doesn't stop trading wild weekend ahead, I'm sure. Let's take 528 00:29:04,040 --> 00:29:05,880 Speaker 1: a look at some of these markets of course with 529 00:29:05,960 --> 00:29:09,160 Speaker 1: our crypto contributor Snali boss Taken Sharlie. We've been talking 530 00:29:09,200 --> 00:29:11,240 Speaker 1: a lot about this program. You've been nice to anchor 531 00:29:11,360 --> 00:29:13,360 Speaker 1: with us all day in the afternoon, pretty much all 532 00:29:13,400 --> 00:29:15,280 Speaker 1: week about some of the rate hikes, all of the 533 00:29:15,360 --> 00:29:20,400 Speaker 1: geopolitical uncertainty, and yet maybe some resiliency within these crypto markets. Yes, 534 00:29:20,560 --> 00:29:24,560 Speaker 1: finally a lift back up in crypto markets after crypto winter. 535 00:29:24,840 --> 00:29:28,640 Speaker 1: So we look at that rise back up back above dollars. 536 00:29:28,960 --> 00:29:30,360 Speaker 1: You do see a little bit of a dip tailor 537 00:29:30,440 --> 00:29:32,680 Speaker 1: going into the weekend. But you know, this rise back 538 00:29:32,800 --> 00:29:36,239 Speaker 1: up this year, it's not just helped Bitcoin, it has 539 00:29:36,280 --> 00:29:39,240 Speaker 1: helped companies related to bitcoin. So if we take a 540 00:29:39,280 --> 00:29:41,600 Speaker 1: look at the next screen here, let's look at backed 541 00:29:42,200 --> 00:29:45,400 Speaker 1: So a company here that just pretty recently one public 542 00:29:45,520 --> 00:29:47,520 Speaker 1: last year, has started to see that lift in more 543 00:29:47,640 --> 00:29:50,680 Speaker 1: recent days, recent weeks, pretty significant rises if you look 544 00:29:50,720 --> 00:29:53,400 Speaker 1: at the tail end there after riding the way down 545 00:29:53,480 --> 00:29:56,280 Speaker 1: alongside crypto winder. Let's take a look at more of 546 00:29:56,360 --> 00:29:59,120 Speaker 1: this now, with this adoption curve moving forward, what can 547 00:29:59,240 --> 00:30:02,720 Speaker 1: give crypto the next leg higher? We have back back 548 00:30:02,800 --> 00:30:07,600 Speaker 1: CEO Gavin, Michael Gavin, thank you so much for joining us. 549 00:30:08,640 --> 00:30:11,920 Speaker 1: How do you think about the next couple of weeks 550 00:30:12,000 --> 00:30:15,080 Speaker 1: and months when it comes to cryptocurrency and the types 551 00:30:15,120 --> 00:30:19,880 Speaker 1: of companies, countries and people that may adapt it in 552 00:30:20,120 --> 00:30:23,800 Speaker 1: order to give it that next leg. Yeah, great to 553 00:30:23,840 --> 00:30:26,000 Speaker 1: be here, Thanks for having me. You know, when we 554 00:30:26,080 --> 00:30:28,480 Speaker 1: think about it through the lens of backt we're really 555 00:30:28,560 --> 00:30:32,160 Speaker 1: working to connect the digital economy. We're trying to bring 556 00:30:32,560 --> 00:30:37,840 Speaker 1: innovative crypto experiences to the customers of non crypto native businesses. 557 00:30:38,480 --> 00:30:41,840 Speaker 1: You know, we're bringing crypto capabilities to your local and 558 00:30:41,960 --> 00:30:45,400 Speaker 1: regional banks and credit unions. We're working with brands to 559 00:30:45,920 --> 00:30:49,680 Speaker 1: enable crypto rewards, changing the way people can enter the 560 00:30:49,760 --> 00:30:54,480 Speaker 1: asset class through this passive acquisition. Through using everyday spend 561 00:30:54,680 --> 00:30:57,000 Speaker 1: is a way to accumulate a small amount of crypto. 562 00:30:57,520 --> 00:31:00,840 Speaker 1: We're even enabling gig economy workers to really get paid 563 00:31:01,400 --> 00:31:04,800 Speaker 1: a portion of their salary and cryptos will be incentive 564 00:31:04,960 --> 00:31:07,920 Speaker 1: in crypto. So I think when you look at adoption, 565 00:31:08,440 --> 00:31:12,160 Speaker 1: what we're doing is broadening the base by trying to 566 00:31:12,320 --> 00:31:16,719 Speaker 1: create these new opportunities for people to enter the asset class. 567 00:31:17,120 --> 00:31:19,120 Speaker 1: There's still a lot of frictions, Gavin, when you look 568 00:31:19,200 --> 00:31:21,840 Speaker 1: at being paid in crypto or paying for products and 569 00:31:21,880 --> 00:31:25,760 Speaker 1: services in crypto, taxation being among them, what can start 570 00:31:25,800 --> 00:31:28,680 Speaker 1: to make it easier for money to move through crypto 571 00:31:28,800 --> 00:31:33,240 Speaker 1: markets rather than through traditional dollars. So I think the 572 00:31:33,280 --> 00:31:35,640 Speaker 1: first thing you've got to look at is volume. You know, 573 00:31:35,840 --> 00:31:39,560 Speaker 1: people and businesses in particular focus less on the volatility 574 00:31:39,960 --> 00:31:42,040 Speaker 1: and more on the volume that they're seeing in the 575 00:31:42,120 --> 00:31:46,760 Speaker 1: overall crypto economy. Our role in this connective tissue, in 576 00:31:46,920 --> 00:31:50,360 Speaker 1: playing the role of connecting the digital economy, is trying 577 00:31:50,440 --> 00:31:53,520 Speaker 1: to seek to remove as much friction as possible. You know, 578 00:31:53,600 --> 00:31:56,400 Speaker 1: we take care of the tax We make it easy 579 00:31:56,520 --> 00:31:59,360 Speaker 1: for people when they're selling to be able to complete 580 00:31:59,400 --> 00:32:02,800 Speaker 1: the necessary very tax obligations. We're working to make it 581 00:32:03,000 --> 00:32:07,000 Speaker 1: easy for businesses to be able to accept crypto, and 582 00:32:07,120 --> 00:32:10,440 Speaker 1: then we're looking for other ways in which businesses can 583 00:32:10,520 --> 00:32:15,920 Speaker 1: engage and create these innovative experiences, you know, like rewarding 584 00:32:15,960 --> 00:32:18,120 Speaker 1: in crypto, and when we think about that, we think 585 00:32:18,160 --> 00:32:21,360 Speaker 1: about the ability for people to be able to redeem 586 00:32:21,480 --> 00:32:25,440 Speaker 1: for crypto as well as earned rewards in crypto. So 587 00:32:25,720 --> 00:32:28,560 Speaker 1: our role is to take the friction out. It's to 588 00:32:28,640 --> 00:32:32,400 Speaker 1: allow us to embed these experiences in the environments where 589 00:32:32,480 --> 00:32:36,239 Speaker 1: consumers already are want to meet customers where they are, 590 00:32:36,640 --> 00:32:39,520 Speaker 1: you know, whether that be embedding the ability to buy 591 00:32:39,560 --> 00:32:43,240 Speaker 1: sal crypto and your local banking application, or simply attach 592 00:32:43,320 --> 00:32:46,400 Speaker 1: a crypto reward option to the credit card or debit 593 00:32:46,480 --> 00:32:49,400 Speaker 1: card that you know and love. Part of that meeting 594 00:32:49,440 --> 00:32:52,640 Speaker 1: the customer where they are has been renewed conversations around 595 00:32:52,680 --> 00:32:56,160 Speaker 1: privacy and regulation. When it comes to Russia's vision in Ukraine, 596 00:32:56,600 --> 00:32:59,000 Speaker 1: some people would say it's a great way to avoid 597 00:32:59,120 --> 00:33:01,560 Speaker 1: some of the sanctions. Others would say it's a great 598 00:33:01,560 --> 00:33:04,040 Speaker 1: way to send money in crypto to the people on 599 00:33:04,120 --> 00:33:06,600 Speaker 1: the ground who need it most. How do you think 600 00:33:06,640 --> 00:33:11,000 Speaker 1: about that? So one of our our founding principles is 601 00:33:11,080 --> 00:33:13,719 Speaker 1: that crypto as an asset class is going to mature 602 00:33:13,880 --> 00:33:18,400 Speaker 1: much faster in an atmosphere where we prioritize regulation, compliance 603 00:33:18,440 --> 00:33:21,760 Speaker 1: and security. You know, we've built those principles into our 604 00:33:21,880 --> 00:33:25,920 Speaker 1: platform from day one, and you know, our former parent 605 00:33:26,040 --> 00:33:30,240 Speaker 1: company Ice really engendered that thinking in everything we do. 606 00:33:30,960 --> 00:33:34,200 Speaker 1: So we've made sure that we have the right infrastructure 607 00:33:34,280 --> 00:33:39,240 Speaker 1: in place to really build that trust and security. You know, 608 00:33:39,360 --> 00:33:41,720 Speaker 1: we operate under a chust tittle. We have a bit 609 00:33:41,840 --> 00:33:43,800 Speaker 1: licensed from n y d f S, We have money 610 00:33:43,800 --> 00:33:49,360 Speaker 1: transmittal licenses across the US, and we really are focused 611 00:33:49,480 --> 00:33:53,640 Speaker 1: on being highly regulatory, compliance and secure. And you know, 612 00:33:53,760 --> 00:33:56,280 Speaker 1: we look at the opportunity for US to be able 613 00:33:56,320 --> 00:34:00,680 Speaker 1: to help regulators better understand digital assets, to develop regulation 614 00:34:00,760 --> 00:34:05,120 Speaker 1: that creates safety and soundness in the financial system, and 615 00:34:05,520 --> 00:34:07,920 Speaker 1: we want to be able to ensure that we keep 616 00:34:08,040 --> 00:34:11,840 Speaker 1: that agility in the core of everything we do. My 617 00:34:12,160 --> 00:34:14,879 Speaker 1: colleague here, Schinelli Bossi, of course did speak with mag 618 00:34:14,960 --> 00:34:18,759 Speaker 1: novograts earlier about cryptocurrencies. Take a listen to what he 619 00:34:18,840 --> 00:34:21,759 Speaker 1: had to say. The whole year, I thought we gonna 620 00:34:21,760 --> 00:34:25,879 Speaker 1: be a thirty thousand fifty thousand range in bitcoin risk 621 00:34:25,960 --> 00:34:29,279 Speaker 1: to the upside, not the downside. Um, but I think 622 00:34:29,840 --> 00:34:32,160 Speaker 1: you know, five years out, if bitcoin is not at 623 00:34:32,160 --> 00:34:36,120 Speaker 1: five thousand, I'm wrong. On the adoption cycle, uh right, 624 00:34:36,239 --> 00:34:41,080 Speaker 1: we see an adoption cycle that accelerates. Bitcoin grew so 625 00:34:41,239 --> 00:34:43,880 Speaker 1: much faster last year, Crypto grew than the Internet did 626 00:34:44,000 --> 00:34:47,080 Speaker 1: its best years in the nineties. Hey did come, do 627 00:34:47,160 --> 00:34:49,279 Speaker 1: you want price? But is the price keeping up with 628 00:34:49,320 --> 00:34:52,920 Speaker 1: that adoption cycle that he described? So I think what 629 00:34:53,080 --> 00:34:55,879 Speaker 1: we can say Taylor as mess adoption is definitely here. 630 00:34:55,920 --> 00:34:59,120 Speaker 1: We're moving through an inflection point. We've seen a steady 631 00:34:59,239 --> 00:35:02,919 Speaker 1: uptick in is that are buying cryptocurrency, and we've seen 632 00:35:03,000 --> 00:35:06,800 Speaker 1: that for quite some time, and the volume of transactions 633 00:35:06,920 --> 00:35:10,960 Speaker 1: is an important measure because for US, as volume increases steadily, 634 00:35:11,320 --> 00:35:14,840 Speaker 1: it really starts to signal that interest in velocity. You know, 635 00:35:14,920 --> 00:35:18,160 Speaker 1: we're really focused on driving that next wave of adoption, 636 00:35:19,120 --> 00:35:23,880 Speaker 1: bringing in the crypto curious, a slightly older demographic, potentially 637 00:35:24,040 --> 00:35:28,000 Speaker 1: someone who's potentially less tech savvy, and we're looking for 638 00:35:28,120 --> 00:35:32,080 Speaker 1: new ways to introduce those into the crypto economy. You know, 639 00:35:32,320 --> 00:35:36,400 Speaker 1: we we look at price and obviously we're focused on 640 00:35:36,480 --> 00:35:39,800 Speaker 1: the volatility, but we're more focused on growing volume overall 641 00:35:39,880 --> 00:35:42,759 Speaker 1: because we think that's where we reach that sustainability point. 642 00:35:43,040 --> 00:35:45,800 Speaker 1: But there's no question that mass adoption is here and 643 00:35:45,920 --> 00:35:49,920 Speaker 1: we're moving through that that inflection point. Really appreciate it 644 00:35:50,080 --> 00:35:52,759 Speaker 1: back CEO Gavin Michael and of course are very on 645 00:35:52,840 --> 00:36:05,719 Speaker 1: Bloomberg's appreciate both your time. Apple has launched its first 646 00:36:05,760 --> 00:36:10,279 Speaker 1: new products, including new iPhone scs and iPad airs with 647 00:36:10,400 --> 00:36:14,720 Speaker 1: five G and faster chips, Green iPhone, thirteens, the Max Studio, 648 00:36:15,120 --> 00:36:18,080 Speaker 1: a new monitor, and of course the m one Ultra process. 649 00:36:18,880 --> 00:36:21,120 Speaker 1: I think the new SC doesn't really move the needle 650 00:36:21,239 --> 00:36:23,520 Speaker 1: much because at this point I still believe five G 651 00:36:24,000 --> 00:36:26,800 Speaker 1: is still a marketing tactic, and the other SC upgrades 652 00:36:26,840 --> 00:36:30,400 Speaker 1: are not that significant. The new Air is nearly identical 653 00:36:30,560 --> 00:36:32,640 Speaker 1: to the eleven inch I Pad Pro, so if you're 654 00:36:32,640 --> 00:36:34,720 Speaker 1: in the market for a ten to eleven inch tablet, 655 00:36:35,000 --> 00:36:37,279 Speaker 1: I'd probably go at the Air instead of the Pro 656 00:36:37,680 --> 00:36:40,880 Speaker 1: and say that extra two dollars of cash. I really 657 00:36:40,960 --> 00:36:44,239 Speaker 1: do like the new Alpine Green iPhone Pro color, and 658 00:36:44,320 --> 00:36:46,520 Speaker 1: I do hope it sticks around for the iPhone fourteen 659 00:36:46,600 --> 00:36:49,799 Speaker 1: this fall, and the Max studio really shows us how 660 00:36:49,920 --> 00:36:53,520 Speaker 1: much Intel was holding Apple back in the Mac chip department. Well, 661 00:36:53,560 --> 00:36:58,279 Speaker 1: the new displays point is fairly reasonable within the Apple ecosystem. 662 00:36:58,600 --> 00:37:01,200 Speaker 1: It's not the world's best. See when you realize that 663 00:37:01,280 --> 00:37:03,520 Speaker 1: an iMac with a full M one inside is a 664 00:37:03,600 --> 00:37:07,600 Speaker 1: hundred dollars less. Looking ahead, Apple's new M one Altra 665 00:37:07,719 --> 00:37:10,279 Speaker 1: chip sets the stage for a slew of M two 666 00:37:10,360 --> 00:37:13,959 Speaker 1: Max that would include an M two Macokair, Mac Mini, 667 00:37:14,400 --> 00:37:17,720 Speaker 1: thirteen inch MacBook Pro, and twenty four inch iMac, along 668 00:37:17,840 --> 00:37:20,080 Speaker 1: with an M two based Mac Pro with as many 669 00:37:20,160 --> 00:37:23,759 Speaker 1: as forty eight CPU cors. Apple's also working on a 670 00:37:23,840 --> 00:37:26,759 Speaker 1: new high end pro xdr display to attach to that 671 00:37:26,880 --> 00:37:29,759 Speaker 1: Mac Pro, and the next year we should also get 672 00:37:30,040 --> 00:37:33,080 Speaker 1: new high end MacBook pros and iMac pros with M 673 00:37:33,160 --> 00:37:36,520 Speaker 1: two Pro and M two Max chips, along with eventually 674 00:37:36,760 --> 00:37:39,800 Speaker 1: a new Mac Studio with an M to Ultra. Apple's 675 00:37:39,840 --> 00:37:42,880 Speaker 1: new chips are clearly outpacing rivals, and they're at the 676 00:37:43,040 --> 00:37:46,399 Speaker 1: very core both Apple's present and future, and I'm very 677 00:37:46,480 --> 00:37:48,480 Speaker 1: much looking forward to seeing how the chip ro map 678 00:37:48,800 --> 00:37:52,320 Speaker 1: continues to take shape in the coming years. I'm Mark German. 679 00:37:52,680 --> 00:37:58,000 Speaker 1: This is power On and Don't forget. You can subscribe 680 00:37:58,040 --> 00:38:01,479 Speaker 1: to Mark's weekly power On newsletter at Bloomberg dot com. 681 00:38:02,080 --> 00:38:04,160 Speaker 1: There are a few other stories, of course, that we're watching. 682 00:38:04,280 --> 00:38:05,960 Speaker 1: Take a look at in video. Having one of the 683 00:38:06,080 --> 00:38:09,440 Speaker 1: best weeks since the start of the pandemic, shares rallied 684 00:38:09,520 --> 00:38:12,560 Speaker 1: on Friday, with the chip maker extending a recent advance 685 00:38:12,600 --> 00:38:16,200 Speaker 1: as analysts all look ahead to the company's GtC conference 686 00:38:16,440 --> 00:38:19,719 Speaker 1: and investor events next week. Shares her up about six 687 00:38:19,800 --> 00:38:22,680 Speaker 1: percent on the day, nearly twenty percent for the week, 688 00:38:23,000 --> 00:38:25,760 Speaker 1: putting it on track for its biggest weekly percent games 689 00:38:25,800 --> 00:38:30,040 Speaker 1: since March. And we are approaching one week since another 690 00:38:30,120 --> 00:38:33,440 Speaker 1: giant container ship owned by Evergreen It has been stuck 691 00:38:33,480 --> 00:38:36,279 Speaker 1: in the Chesapeake Bay near Baltimore. The ship, absolutely named 692 00:38:36,320 --> 00:38:39,840 Speaker 1: Evergreen Forward, has been stuck since Sunday night. In hopes 693 00:38:39,880 --> 00:38:43,439 Speaker 1: of getting it unstuck, Evergreen Marine has hired the same 694 00:38:43,560 --> 00:38:47,440 Speaker 1: company it used to free three other giant container ships 695 00:38:47,680 --> 00:38:50,319 Speaker 1: when it ran aground in the Suaves Canal last year. 696 00:38:50,719 --> 00:38:54,520 Speaker 1: And we all remember that it disrupted global trade for months. 697 00:38:55,680 --> 00:38:59,000 Speaker 1: That does it. For this edition of Bloomberg Technology, Wall 698 00:38:59,120 --> 00:39:02,680 Speaker 1: Street Week next with one of my favorite colleagues, David Weston. 699 00:39:03,080 --> 00:39:06,640 Speaker 1: He'll be joined by Shnoli Dasai from Franklin Templeton, Joanne 700 00:39:06,640 --> 00:39:10,400 Speaker 1: Peeny from Advisor's Capital, and Rick Reader, ce IO at 701 00:39:10,440 --> 00:39:14,280 Speaker 1: black Rock, as well as former Treasury Secretary Larry Summer 702 00:39:14,400 --> 00:39:16,839 Speaker 1: is Big Week from the Federal Reserve. I know they'll 703 00:39:16,880 --> 00:39:19,840 Speaker 1: touch on it. Plus we listen to today's show on 704 00:39:19,880 --> 00:39:24,040 Speaker 1: the new Bloomberg Technology podcast. It's new. It's great. You 705 00:39:24,080 --> 00:39:26,240 Speaker 1: can find it on the terminal as well as online 706 00:39:26,280 --> 00:39:30,000 Speaker 1: an Apple, Spotify, and I Heart. Have a great weekend, everyone, 707 00:39:30,200 --> 00:39:31,000 Speaker 1: This is Bloomberg