1 00:00:03,440 --> 00:00:06,720 Speaker 1: From the heart of where Innovation, money and power Colli 2 00:00:07,560 --> 00:00:12,080 Speaker 1: in Silicon Valley and beyond. This is Bloomberg Technology with 3 00:00:12,119 --> 00:00:27,840 Speaker 1: Emily Jay primarily Jack in San Francisco, and this is 4 00:00:27,840 --> 00:00:30,600 Speaker 1: Bloomberg Technology coming up in the next hour. A historic 5 00:00:30,720 --> 00:00:34,280 Speaker 1: day in Washington and for the United States. The first 6 00:00:34,440 --> 00:00:37,160 Speaker 1: black woman is appointed to the U s Supreme Court. 7 00:00:37,640 --> 00:00:41,120 Speaker 1: What this means and how her confirmation could impact rulings 8 00:00:41,159 --> 00:00:44,159 Speaker 1: on tech regulation. Plus we'll get the latest on how 9 00:00:44,200 --> 00:00:47,360 Speaker 1: the SEC might handle Elon Musk's delay in announcing his 10 00:00:47,400 --> 00:00:52,080 Speaker 1: Twitter stake and what the penalty could be. We're also 11 00:00:52,200 --> 00:00:54,760 Speaker 1: at the Kennedy Space Center ahead of SpaceX, is first 12 00:00:54,760 --> 00:00:57,760 Speaker 1: of its kind, all private trip to the International Space 13 00:00:57,760 --> 00:01:01,640 Speaker 1: Station put together by Sam We'll talk with the startup 14 00:01:01,920 --> 00:01:04,720 Speaker 1: executive's chair about how it all came together and what 15 00:01:04,720 --> 00:01:08,160 Speaker 1: it means for the future of space travel. And my 16 00:01:08,240 --> 00:01:12,800 Speaker 1: exclusive conversation with the CEO of eBay, Jamie Ioni, on 17 00:01:12,840 --> 00:01:16,679 Speaker 1: the future of ray commerce in a post pandemic world 18 00:01:17,040 --> 00:01:21,200 Speaker 1: and how eBay It's it. Judge Kanji Brown Jackson is 19 00:01:21,240 --> 00:01:24,240 Speaker 1: now the first black woman to become a US Supreme 20 00:01:24,280 --> 00:01:28,440 Speaker 1: Court justice. The Senate confirmed Judge Jackson with three Republicans 21 00:01:28,520 --> 00:01:31,800 Speaker 1: joining all Democrats in a bipartisan confirmation vote joining me 22 00:01:31,800 --> 00:01:36,119 Speaker 1: out and discussed the significance are Jordan Reuben from Bloomberg Law. 23 00:01:36,280 --> 00:01:39,840 Speaker 1: So Jordan's just how significant is this? I do not 24 00:01:40,000 --> 00:01:45,200 Speaker 1: think it can be overstated. That's exactly right. It really 25 00:01:45,240 --> 00:01:49,120 Speaker 1: can't be overstated. The first black woman on the court, 26 00:01:49,120 --> 00:01:52,280 Speaker 1: the first former public defender. It's truly a big day, 27 00:01:52,520 --> 00:01:55,680 Speaker 1: historic day for the Court and for the country as well. 28 00:01:56,440 --> 00:01:59,200 Speaker 1: What can we expect from her in terms of rulings 29 00:01:59,200 --> 00:02:05,160 Speaker 1: across a rain of issues, So as with prior nominees, 30 00:02:05,280 --> 00:02:07,400 Speaker 1: the name of the game has been not giving any 31 00:02:07,480 --> 00:02:11,280 Speaker 1: hints about how that's going to go, and Judge Jackson 32 00:02:11,360 --> 00:02:14,640 Speaker 1: seemed to be Justice Jackson. She stayed to that script 33 00:02:14,720 --> 00:02:17,679 Speaker 1: like prior nominees have as well. So that's going to 34 00:02:17,720 --> 00:02:19,680 Speaker 1: be a bit of a wait and see. And another 35 00:02:19,720 --> 00:02:22,280 Speaker 1: thing that's going to impact that as well, is she 36 00:02:22,400 --> 00:02:25,880 Speaker 1: just going to be one justice replacing a fellow Democratic 37 00:02:25,919 --> 00:02:29,600 Speaker 1: nominee on a court that's dominated by Republican appointees. So 38 00:02:29,600 --> 00:02:32,359 Speaker 1: as far as the impact in terms of rulings, that's 39 00:02:32,360 --> 00:02:34,000 Speaker 1: something that we're going to have to wait and see, 40 00:02:34,040 --> 00:02:37,560 Speaker 1: but certainly doesn't detract from the historic nature of the 41 00:02:37,639 --> 00:02:42,480 Speaker 1: day itself. She could preside over some potentially momentous rulings 42 00:02:42,520 --> 00:02:46,519 Speaker 1: on tech regulation. You've got Republicans and Democrats both pushing 43 00:02:46,639 --> 00:02:50,080 Speaker 1: for better regulation of tech issues. She was asked a 44 00:02:50,120 --> 00:02:53,440 Speaker 1: couple of times about this during the confirmation hearings. But 45 00:02:53,600 --> 00:02:56,839 Speaker 1: do we have any indication of which way she might lean? 46 00:02:59,240 --> 00:03:01,560 Speaker 1: We really don't, not just with tech, but in other 47 00:03:01,639 --> 00:03:04,240 Speaker 1: areas as well. She really stuck to that script of 48 00:03:04,280 --> 00:03:08,080 Speaker 1: not giving any substantive answers of how she might rule. 49 00:03:08,480 --> 00:03:11,480 Speaker 1: And so that's something that we're going to have to 50 00:03:11,480 --> 00:03:14,080 Speaker 1: wait and see when a case might come up, whether 51 00:03:14,120 --> 00:03:16,680 Speaker 1: it's in tech or in any other area as well. 52 00:03:17,440 --> 00:03:21,160 Speaker 1: All right, well, we'll be watching over the next several decades. 53 00:03:21,280 --> 00:03:25,880 Speaker 1: Bloomberg Laws, Jordan Reuben, thank you. It is now day 54 00:03:25,960 --> 00:03:28,960 Speaker 1: three of Elon Musk on Twitter's board, and there are 55 00:03:29,040 --> 00:03:33,320 Speaker 1: some risks with the SEC looming. Did Musk violate rules 56 00:03:33,400 --> 00:03:36,160 Speaker 1: by waiting to declare the size of his Twitter steak? 57 00:03:36,160 --> 00:03:39,839 Speaker 1: Bloomberg's Mark Bergan here with more on that story. Mark, 58 00:03:39,920 --> 00:03:44,400 Speaker 1: what do we know about whether Elon Musk broke any rules? Here? Well, 59 00:03:44,520 --> 00:03:47,040 Speaker 1: right now we know that his disclosure period he was 60 00:03:47,080 --> 00:03:49,600 Speaker 1: he was meant to disclose his share above five percent 61 00:03:49,840 --> 00:03:53,800 Speaker 1: according to SEC rules, anyone several days passed that before disclosing, 62 00:03:54,320 --> 00:03:56,280 Speaker 1: and course as soon as he has closed, the share 63 00:03:56,320 --> 00:03:59,840 Speaker 1: price jumped up I think from about up above fifty 64 00:03:59,840 --> 00:04:02,040 Speaker 1: of a believe um. And so that that he was 65 00:04:02,080 --> 00:04:04,560 Speaker 1: buying shares at that cheaper rate. And and the assumption 66 00:04:04,640 --> 00:04:07,960 Speaker 1: is the market um would have if he disclosed it 67 00:04:08,000 --> 00:04:10,839 Speaker 1: when when at the five percent threshold, Uh, it would 68 00:04:10,840 --> 00:04:14,080 Speaker 1: have been a much higher price. As we know, Elon 69 00:04:14,160 --> 00:04:18,080 Speaker 1: Musk has had a history of what I'll say generously 70 00:04:18,120 --> 00:04:21,000 Speaker 1: a sort of a casual disregard for the SEC um 71 00:04:21,040 --> 00:04:23,280 Speaker 1: and its rules. And so it's unclear this was intentional 72 00:04:23,520 --> 00:04:27,520 Speaker 1: or accidental. Now as I understand it, being a little 73 00:04:27,600 --> 00:04:31,200 Speaker 1: late with your thirteen G for a passive investor might 74 00:04:31,240 --> 00:04:35,240 Speaker 1: not necessarily stimulate the SEC to bring a case. But 75 00:04:35,600 --> 00:04:39,919 Speaker 1: Elon Musk could be different. Why is that right? And 76 00:04:39,960 --> 00:04:42,320 Speaker 1: then later this week, so after first coming out as 77 00:04:42,320 --> 00:04:46,120 Speaker 1: a past investor, he's since refiled as an active investor 78 00:04:46,240 --> 00:04:49,400 Speaker 1: and then joined joined the board, although he's promised not 79 00:04:49,480 --> 00:04:53,840 Speaker 1: to to go with I'm assuming here. You know, there's 80 00:04:53,920 --> 00:04:58,440 Speaker 1: some good coverage in Washington Posts about this. Certainly, Musk 81 00:04:58,520 --> 00:05:01,080 Speaker 1: has a history with the SEC, and so he probably 82 00:05:01,080 --> 00:05:04,240 Speaker 1: gets a lot more attention than anyone other Twitter board 83 00:05:04,279 --> 00:05:07,799 Speaker 1: number or someone else to pull this off. Matt Levine, 84 00:05:08,080 --> 00:05:10,520 Speaker 1: who probably a lot of the viewers are reading, has 85 00:05:10,600 --> 00:05:13,880 Speaker 1: some great series of columns this week about this, uh 86 00:05:13,920 --> 00:05:17,640 Speaker 1: and how just singular Musk is too. It seems like 87 00:05:18,080 --> 00:05:21,120 Speaker 1: at least flaunting the rules, mat Levine, one of our 88 00:05:21,160 --> 00:05:25,320 Speaker 1: own Bloomberg Opinion columnists, What could the penalty be? Uh? 89 00:05:25,480 --> 00:05:26,880 Speaker 1: I don't know at this point. I mean the SEC. 90 00:05:27,680 --> 00:05:30,120 Speaker 1: I guess it's fair to say they haven't been you 91 00:05:30,120 --> 00:05:34,000 Speaker 1: could call them a little toothless thus far. Uh. And 92 00:05:34,160 --> 00:05:37,160 Speaker 1: it's certainly you know, there's there are talks that um 93 00:05:37,279 --> 00:05:41,160 Speaker 1: for Musk prior run ins that he would uh if 94 00:05:41,200 --> 00:05:44,520 Speaker 1: not be removed from Twitter at least pull back on 95 00:05:44,680 --> 00:05:47,640 Speaker 1: some of his unorthodox tweeting, and that clearly hasn't changed 96 00:05:47,880 --> 00:05:51,880 Speaker 1: what comes next here. Obviously we're all wondering how Elon 97 00:05:52,000 --> 00:05:55,960 Speaker 1: Musk could potentially change Twitter. Yeah, I mean, certainly, like 98 00:05:56,000 --> 00:05:58,960 Speaker 1: you know, there's some enthusiasm from from the Twitter rank 99 00:05:59,040 --> 00:06:02,039 Speaker 1: and file, from from what I've talked, at least our understanding, 100 00:06:02,160 --> 00:06:05,839 Speaker 1: and probably chiefly because they're their share price has gone up. Uh. 101 00:06:06,000 --> 00:06:08,520 Speaker 1: You know, Ellen's in parts Silicon Valley, a pretty well 102 00:06:08,520 --> 00:06:12,960 Speaker 1: respective technologist. He's very passionate about what Twitter is dipping 103 00:06:12,960 --> 00:06:19,440 Speaker 1: its toes into decentralized protocols open source cryptocurrencies. As a reminder, 104 00:06:19,520 --> 00:06:23,520 Speaker 1: Twitter is chiefly an advertising business. Elon Musk famously doesn't 105 00:06:23,520 --> 00:06:26,720 Speaker 1: advertise for any of his companies. Um so that you know, 106 00:06:26,760 --> 00:06:30,520 Speaker 1: he's not bringing advertising expertise, although they have on that 107 00:06:30,600 --> 00:06:34,240 Speaker 1: on the board right now. Uh, he's certainly bringing Uh 108 00:06:34,279 --> 00:06:37,320 Speaker 1: you know, he's a prolific tweeter. He's got a huge following. Uh. 109 00:06:37,560 --> 00:06:41,440 Speaker 1: Twitter has probably outside drama even before this for the 110 00:06:41,480 --> 00:06:44,599 Speaker 1: size of the company, and it doesn't seem like Elon 111 00:06:44,680 --> 00:06:48,799 Speaker 1: Musk is going to limit that drama going forward. Blombarks, 112 00:06:48,839 --> 00:06:53,840 Speaker 1: Mark bergain, thank you. Lots of unanswered questions coming up. 113 00:06:53,920 --> 00:06:57,599 Speaker 1: An exclusive interview with eBay CEO Jamie I Known or 114 00:06:57,640 --> 00:07:00,840 Speaker 1: we'll talk about trends in re commerce and how gen 115 00:07:00,960 --> 00:07:05,040 Speaker 1: Z is giving the platform a second line. This is Bloomberg. 116 00:07:23,160 --> 00:07:26,520 Speaker 1: Online shopping has skyrocketed amidst the pandemic, and now eBay 117 00:07:26,560 --> 00:07:29,120 Speaker 1: is out with its annual re commerce report showing that 118 00:07:29,240 --> 00:07:33,520 Speaker 1: gen Z is becoming a bigger driver of second hand sales. 119 00:07:33,680 --> 00:07:36,160 Speaker 1: Joining us now for an exclusive interview is the CEO 120 00:07:36,440 --> 00:07:38,800 Speaker 1: of Eva, Jamie. I know, Nie Jamie. Great to have 121 00:07:38,840 --> 00:07:41,880 Speaker 1: you back here on the show. So how is gen 122 00:07:42,000 --> 00:07:47,720 Speaker 1: Z boosting this revolution in re commerce? Yeah, well, gen 123 00:07:47,800 --> 00:07:49,600 Speaker 1: Z is really driving it. You know when you look 124 00:07:49,640 --> 00:07:54,240 Speaker 1: at gen Z. Just in two thoe of gen Z 125 00:07:54,400 --> 00:07:57,640 Speaker 1: has bought online and a third of gen Z started 126 00:07:57,720 --> 00:08:01,800 Speaker 1: selling online last year, and re commerce really aligns with 127 00:08:01,920 --> 00:08:05,280 Speaker 1: their values. If you think about you know that that demographic. 128 00:08:05,720 --> 00:08:08,600 Speaker 1: You know, they really want to make sure they're finding unique, 129 00:08:08,680 --> 00:08:12,760 Speaker 1: interesting items. But importantly they really care about sustainability and 130 00:08:12,800 --> 00:08:15,520 Speaker 1: how important that is. And that's why, you know, this 131 00:08:15,600 --> 00:08:18,480 Speaker 1: is so important for that generation and we're really leading 132 00:08:18,520 --> 00:08:21,600 Speaker 1: in to support that. Jen Z is also typically more 133 00:08:21,600 --> 00:08:28,400 Speaker 1: price sensitive. How are they responding with forty inflation? Yeah, 134 00:08:28,440 --> 00:08:30,520 Speaker 1: you know it's not just gen Z, it's really across 135 00:08:30,560 --> 00:08:33,960 Speaker 1: the board. If we look over the last two years 136 00:08:33,960 --> 00:08:37,320 Speaker 1: of people have been selling secondhand goods. When you think 137 00:08:37,360 --> 00:08:40,839 Speaker 1: about high gas prices and inflation, etcetera, he may is 138 00:08:40,880 --> 00:08:43,000 Speaker 1: a great place to turn to to sell your pre 139 00:08:43,120 --> 00:08:46,400 Speaker 1: loved items. You know, the average household has four thousand 140 00:08:46,400 --> 00:08:49,160 Speaker 1: dollars of items that they could sell and less than 141 00:08:49,920 --> 00:08:53,040 Speaker 1: of that is online. And like you said, there's amazing 142 00:08:53,200 --> 00:08:56,720 Speaker 1: values in that pre loved You know, take our certified refurbage. 143 00:08:56,760 --> 00:08:59,360 Speaker 1: If the gen Z needs a new laptop, they can 144 00:08:59,360 --> 00:09:02,120 Speaker 1: buy a SERTI five refurbished product. It comes with a 145 00:09:02,160 --> 00:09:05,920 Speaker 1: two year warranty, thirty day hassle free returns eBay money 146 00:09:05,920 --> 00:09:09,400 Speaker 1: back guarantee, and it's a like new product and importantly 147 00:09:09,400 --> 00:09:12,640 Speaker 1: they're saving a product from going into the landfill. Now, 148 00:09:12,760 --> 00:09:15,000 Speaker 1: you were the CEO of Walmart for many years, you 149 00:09:15,040 --> 00:09:18,600 Speaker 1: were the CEO of Sam's Club dot com. The existential 150 00:09:18,679 --> 00:09:21,880 Speaker 1: question for eBay seems to be just how big a 151 00:09:22,000 --> 00:09:26,719 Speaker 1: market can reselling really be? You know, it's massive. We 152 00:09:26,880 --> 00:09:29,120 Speaker 1: just had our investor day and I talked about a 153 00:09:29,200 --> 00:09:33,600 Speaker 1: one point for trillion dollar trend TAM total addressable market, 154 00:09:33,920 --> 00:09:37,280 Speaker 1: and in fact it's actually going faster than new one season, 155 00:09:37,440 --> 00:09:39,840 Speaker 1: So non new one season is going to have more 156 00:09:39,920 --> 00:09:42,560 Speaker 1: growth over the next four or five years. If you 157 00:09:42,559 --> 00:09:46,480 Speaker 1: look at any category on eBay, sneakers, hand bays, collectibles, 158 00:09:47,080 --> 00:09:51,040 Speaker 1: trading cards, sports equipments were only high single digit or 159 00:09:51,040 --> 00:09:53,199 Speaker 1: low double digit and a trade it So there is 160 00:09:53,240 --> 00:09:55,600 Speaker 1: a lot of opportunity and a huge tam for us 161 00:09:55,679 --> 00:09:58,680 Speaker 1: to go after. When you last reported earnings, though, we 162 00:09:58,720 --> 00:10:01,240 Speaker 1: saw eBay lose active buyers, and I know you said 163 00:10:01,240 --> 00:10:03,520 Speaker 1: at the time it was because of a reduction and promotions. 164 00:10:03,679 --> 00:10:06,240 Speaker 1: What kind of marketing do you think is worth it 165 00:10:06,320 --> 00:10:09,320 Speaker 1: to reverse that trend and where does that number of 166 00:10:09,400 --> 00:10:13,480 Speaker 1: active buyers ultimately settle. You know, we're really leading into 167 00:10:13,559 --> 00:10:17,280 Speaker 1: our enthusiast fires on the platform. This is nineteen million 168 00:10:17,440 --> 00:10:21,840 Speaker 1: enthusiasts buyers who buy SEV the g m V and 169 00:10:21,880 --> 00:10:24,480 Speaker 1: they're not only growing, but they're actually spending more on 170 00:10:24,520 --> 00:10:27,000 Speaker 1: the platform, and they're the heart of what makes this 171 00:10:27,080 --> 00:10:30,760 Speaker 1: platform really healthy. So we're really pleased they're they're going 172 00:10:30,800 --> 00:10:33,680 Speaker 1: across categories. So they may come into let's say our 173 00:10:33,679 --> 00:10:37,160 Speaker 1: Parts and Accessories area, and enthusiasts will buy twelve hundred 174 00:10:37,160 --> 00:10:39,880 Speaker 1: dollars in parts and Accessories, but then they'll go on 175 00:10:39,960 --> 00:10:43,319 Speaker 1: and buy in other parts of the site. And that's 176 00:10:43,360 --> 00:10:45,600 Speaker 1: one of the real special effects of the eBay and 177 00:10:45,640 --> 00:10:48,240 Speaker 1: we're seeing that really across the board in in all 178 00:10:48,280 --> 00:10:51,640 Speaker 1: of our focus categories. You're also pushing for eBay and 179 00:10:51,679 --> 00:10:53,439 Speaker 1: some people may not realize this. To become more of 180 00:10:53,440 --> 00:10:57,600 Speaker 1: a destination for luxury goods. You're authenticating handbags, for example, 181 00:10:57,920 --> 00:10:59,640 Speaker 1: But the perception of eBay, I think for a lot 182 00:10:59,679 --> 00:11:03,720 Speaker 1: of people still might be Ebays like an online swap meet. 183 00:11:03,760 --> 00:11:07,280 Speaker 1: How do you reverse that? Yeah, it's changing massively. You know. 184 00:11:07,360 --> 00:11:11,000 Speaker 1: We started with authenticating sneakers over two hundred dollars and 185 00:11:11,080 --> 00:11:14,080 Speaker 1: it's been an amazing experience. We've been growing double digits 186 00:11:14,120 --> 00:11:16,640 Speaker 1: on the backs of triple digits. We're doing the same 187 00:11:16,679 --> 00:11:20,000 Speaker 1: thing in handbags, We're doing the same thing in luxury watches. 188 00:11:20,320 --> 00:11:23,640 Speaker 1: You know, every day incredible products are sold. We just 189 00:11:23,640 --> 00:11:26,360 Speaker 1: sold a Tom Brady card for two point three million 190 00:11:26,360 --> 00:11:29,199 Speaker 1: dollars on the platform. We sell hundreds of thousands of 191 00:11:29,240 --> 00:11:32,400 Speaker 1: dollar watches on the platform, so it's really changing. And 192 00:11:32,440 --> 00:11:35,920 Speaker 1: things like are certified refurbished program. We put eBay money 193 00:11:35,920 --> 00:11:38,920 Speaker 1: back guarantee in a two year warranty. It's making people 194 00:11:38,960 --> 00:11:41,839 Speaker 1: really comfortable with the platform and consumers are really leading 195 00:11:41,840 --> 00:11:46,400 Speaker 1: in one. Are the bright spots in post pandemic e 196 00:11:46,600 --> 00:11:51,319 Speaker 1: commerce as people return to stores and are there those uh, 197 00:11:51,360 --> 00:11:54,480 Speaker 1: certain categories that you think are fading because people you know, 198 00:11:54,520 --> 00:11:56,680 Speaker 1: can go back to the stores in person and and 199 00:11:56,840 --> 00:12:00,120 Speaker 1: won't come back not really. You know, we think the 200 00:12:00,120 --> 00:12:02,960 Speaker 1: metrics that we're seeing are not really pandemic relating. When 201 00:12:03,000 --> 00:12:06,640 Speaker 1: you look at people selling secondhand goods or buying secondhand goods, 202 00:12:06,920 --> 00:12:09,920 Speaker 1: they're leading in even more. You know, when times are tough, 203 00:12:10,000 --> 00:12:13,160 Speaker 1: people look for the amazing values that we have on eBay. 204 00:12:13,280 --> 00:12:15,640 Speaker 1: In fact, a lot of our sellers on the platform 205 00:12:15,760 --> 00:12:19,280 Speaker 1: start is what I call accidental entrepreneurs. They just needed 206 00:12:19,320 --> 00:12:21,360 Speaker 1: a little bit of money, so they started selling on 207 00:12:21,400 --> 00:12:24,480 Speaker 1: the platform and they turned that into a business on eBay. 208 00:12:24,520 --> 00:12:26,920 Speaker 1: In some cases that's a small business where they go 209 00:12:27,000 --> 00:12:29,600 Speaker 1: on to higher employees, and that's really the special part 210 00:12:29,679 --> 00:12:32,760 Speaker 1: of the eBay platform and what we're still seeing. We're 211 00:12:32,760 --> 00:12:37,360 Speaker 1: seeing accidental gen Z entrepreneurs emerging on a lot of 212 00:12:37,400 --> 00:12:41,000 Speaker 1: social platforms like TikTok and Instagram. How are you or 213 00:12:41,040 --> 00:12:43,719 Speaker 1: can you use some of those platforms to drive gen 214 00:12:43,840 --> 00:12:47,000 Speaker 1: z interest? You know, it's really interesting how much they've 215 00:12:47,000 --> 00:12:49,480 Speaker 1: taken to what we're doing. Take sneakers. We had a 216 00:12:49,600 --> 00:12:52,920 Speaker 1: viral campaign go out on sneakers. We had twelve billion 217 00:12:53,080 --> 00:12:56,839 Speaker 1: views of our last TikTok campaign and two million user 218 00:12:56,880 --> 00:13:00,760 Speaker 1: generated videos just highlighting what's happening with the sneaker drops 219 00:13:00,800 --> 00:13:03,720 Speaker 1: on eBay, the great products that we have and the 220 00:13:03,760 --> 00:13:06,760 Speaker 1: amazing values, and so it's exciting to see how that 221 00:13:06,840 --> 00:13:10,840 Speaker 1: community is really embracing eBay. I know there's been talk 222 00:13:10,880 --> 00:13:16,040 Speaker 1: of an eBay digital wallet, but not yet about accepting crypto. 223 00:13:16,200 --> 00:13:18,719 Speaker 1: Are you thinking about it? What kind of conversations are 224 00:13:18,720 --> 00:13:22,559 Speaker 1: you having about potentially accepting cryptocurrency. We are not accepting 225 00:13:22,600 --> 00:13:26,040 Speaker 1: crypto right now. We just added Klarna. We also take 226 00:13:26,080 --> 00:13:29,559 Speaker 1: after pace, so we now have financing and invoicing options 227 00:13:29,559 --> 00:13:32,080 Speaker 1: on the platform. And when we're really excited to talk 228 00:13:32,120 --> 00:13:34,840 Speaker 1: about is we just started to have a digital wallet 229 00:13:34,840 --> 00:13:37,240 Speaker 1: with a cash balance. So now if you sold a 230 00:13:37,280 --> 00:13:39,920 Speaker 1: couple of products on eBay, you're gonna have that cash 231 00:13:39,960 --> 00:13:42,560 Speaker 1: balance sitting right there to go ahead and find your 232 00:13:42,600 --> 00:13:44,720 Speaker 1: next treasure that you want to find on the platform. 233 00:13:45,000 --> 00:13:47,360 Speaker 1: So that's gonna be rolling out over the course this year, 234 00:13:47,559 --> 00:13:49,280 Speaker 1: and we think we'll be really exciting as it comes 235 00:13:49,280 --> 00:13:52,800 Speaker 1: to payments on the platform. Could you accept crypto someday? 236 00:13:53,440 --> 00:13:56,079 Speaker 1: We're really just focused on one of the best types 237 00:13:56,120 --> 00:13:59,000 Speaker 1: of payments that we need. We're continue to expand them 238 00:13:59,000 --> 00:14:02,640 Speaker 1: on the platform. Uh and go from there, all right, 239 00:14:02,800 --> 00:14:05,080 Speaker 1: Eba CEO, Jamie, I know one. Great to have you 240 00:14:05,120 --> 00:14:16,959 Speaker 1: on the show. Thank you for stopping by. Axiom and 241 00:14:17,000 --> 00:14:19,760 Speaker 1: SpaceX are on track to launch the first all private 242 00:14:19,800 --> 00:14:22,960 Speaker 1: crew to the International Space Station Friday. The four person 243 00:14:23,160 --> 00:14:25,800 Speaker 1: crew scheduled to take off from Kennedy Space Center in 244 00:14:25,840 --> 00:14:28,600 Speaker 1: Florida in the morning, dot with the I S S 245 00:14:28,760 --> 00:14:32,040 Speaker 1: on Saturday. SpaceX is providing the Falcon nine rocket and 246 00:14:32,080 --> 00:14:35,680 Speaker 1: Dragon capsule for the crew. But it's Texas startup Axiom 247 00:14:35,680 --> 00:14:38,920 Speaker 1: that has brought this all together. Their executive chair Cam 248 00:14:38,960 --> 00:14:41,760 Speaker 1: Gafari and joins me. Now, Cam, thank you so much 249 00:14:42,000 --> 00:14:44,400 Speaker 1: for joining us. I'm sure you're very excited about the 250 00:14:44,400 --> 00:14:47,160 Speaker 1: next twenty four hours. You are saying this is the 251 00:14:47,200 --> 00:14:49,840 Speaker 1: first all private mission to the I S S. But 252 00:14:49,840 --> 00:14:52,920 Speaker 1: the Russians have been bringing civilians up there, uh for 253 00:14:53,000 --> 00:14:56,840 Speaker 1: a pretty penny. What makes this different? Well, this is 254 00:14:56,880 --> 00:15:03,960 Speaker 1: the first American U all all American, all private astronauts 255 00:15:04,240 --> 00:15:08,760 Speaker 1: to the International Space Station. And you know, we're so 256 00:15:08,920 --> 00:15:12,760 Speaker 1: delighted that we're able to make this happen, uh and 257 00:15:13,040 --> 00:15:18,520 Speaker 1: bring this, uh, you know all together. How much interest 258 00:15:18,720 --> 00:15:21,440 Speaker 1: is there for private trips and how big do you 259 00:15:21,440 --> 00:15:24,960 Speaker 1: think this market could be? Well, I think the market 260 00:15:25,040 --> 00:15:29,120 Speaker 1: is actually growing quite a bit. I mean, this is 261 00:15:29,160 --> 00:15:32,560 Speaker 1: the first first time that we're doing this, but we 262 00:15:32,760 --> 00:15:36,880 Speaker 1: actually pretty much have sold a extreme mission and pretty 263 00:15:36,960 --> 00:15:41,120 Speaker 1: much a extreme mission, and we're now trying to sell 264 00:15:41,240 --> 00:15:44,720 Speaker 1: some seed on a X four mission. So, um, it's 265 00:15:44,800 --> 00:15:48,280 Speaker 1: quite popular and I'm hoping that if it becomes even 266 00:15:48,360 --> 00:15:51,880 Speaker 1: more popular after a X one mission is completed. And 267 00:15:51,960 --> 00:15:56,000 Speaker 1: obviously the I S S schedule can be complicated, are 268 00:15:56,000 --> 00:16:00,360 Speaker 1: you planning to add many more? Yes? Um, I mean 269 00:16:00,440 --> 00:16:03,040 Speaker 1: we um, you know, just just so you know, Emily 270 00:16:03,400 --> 00:16:08,360 Speaker 1: um ACoM Space is a lot more than just bringing 271 00:16:08,440 --> 00:16:12,160 Speaker 1: private astronaut to the space station. We're actually building our 272 00:16:12,200 --> 00:16:16,560 Speaker 1: own UH space station, AXIOM space Station, which will be 273 00:16:16,640 --> 00:16:20,880 Speaker 1: launched in mid two thousand, twenty four, and it will 274 00:16:21,000 --> 00:16:24,480 Speaker 1: dock with the current I S S UH and will 275 00:16:24,520 --> 00:16:29,880 Speaker 1: be operating jointly with the International Space Station until I 276 00:16:30,120 --> 00:16:35,240 Speaker 1: S S retires about two thousand and thirty and then 277 00:16:35,280 --> 00:16:39,040 Speaker 1: we will separate from International Space Station and will be 278 00:16:39,080 --> 00:16:43,480 Speaker 1: the first commercial space space station operating in orbit. So 279 00:16:43,560 --> 00:16:46,920 Speaker 1: how does this differ from the model that Ross Cosmos 280 00:16:47,000 --> 00:16:51,680 Speaker 1: has been offering for so many years? Yes, So, um, 281 00:16:52,440 --> 00:16:56,040 Speaker 1: Ross Cosmos used to take you know, some astronaut to space. 282 00:16:56,120 --> 00:17:00,600 Speaker 1: As you indicated earlier. What we're doing is this is 283 00:17:00,640 --> 00:17:04,920 Speaker 1: really the first step, the first beginning of many beginnings 284 00:17:04,960 --> 00:17:08,320 Speaker 1: that we're creating at Axiom Space. And it's really a 285 00:17:08,440 --> 00:17:14,400 Speaker 1: first chapter, very historic in in in in human space exploration, 286 00:17:15,040 --> 00:17:19,240 Speaker 1: really with a commercial state space taking private astronaut to 287 00:17:19,320 --> 00:17:23,840 Speaker 1: International Space Station, and we will have many other missions 288 00:17:23,880 --> 00:17:27,520 Speaker 1: along with this. Ross Cosmos took maybe one or two 289 00:17:27,560 --> 00:17:31,520 Speaker 1: in the past to International Space Station. By the way, 290 00:17:31,560 --> 00:17:34,679 Speaker 1: these are private astronauts. They're all going to be performing 291 00:17:34,880 --> 00:17:41,639 Speaker 1: many experiments in space UM and we'll be conducting UM research, 292 00:17:42,640 --> 00:17:47,520 Speaker 1: educational activities, clinical research, all sorts of things. That's very 293 00:17:47,560 --> 00:17:50,480 Speaker 1: different just taking a tourist to the International Space Station. 294 00:17:51,119 --> 00:17:53,879 Speaker 1: So the cost for an Axiom trip to the I 295 00:17:54,160 --> 00:17:57,200 Speaker 1: S S, what's the what's the cost of a seat? 296 00:17:57,200 --> 00:17:59,800 Speaker 1: At this point? Were we really are not at the 297 00:18:00,080 --> 00:18:03,480 Speaker 1: where you talk about the financials at this point. The 298 00:18:03,520 --> 00:18:06,960 Speaker 1: Washington Post reported it was five million dollars and seed 299 00:18:07,040 --> 00:18:12,919 Speaker 1: is that ballpark? Ah? Yeah, that's about right. All right. Um, 300 00:18:12,960 --> 00:18:17,359 Speaker 1: So you know, obviously the space landscape is evolving dramatically. 301 00:18:17,400 --> 00:18:21,879 Speaker 1: In the War on Ukraine has changed things. How is 302 00:18:22,440 --> 00:18:25,320 Speaker 1: the relationship between private companies in the US government changing 303 00:18:25,359 --> 00:18:28,800 Speaker 1: as a result of not necessarily being able to use 304 00:18:28,920 --> 00:18:33,560 Speaker 1: or staying away from Russian services and Russian airspace. Yeah, 305 00:18:33,640 --> 00:18:36,240 Speaker 1: so that's a you know, a great question. I mean, 306 00:18:36,440 --> 00:18:41,560 Speaker 1: you know, a space station and collaborations. Actually, it's the 307 00:18:41,600 --> 00:18:45,240 Speaker 1: international partners has been a great thing and it's been 308 00:18:45,240 --> 00:18:48,520 Speaker 1: going on for over twenty years and it's continuing, and 309 00:18:48,600 --> 00:18:52,320 Speaker 1: it's it's something that has unified, uh, you know, all 310 00:18:52,359 --> 00:18:55,920 Speaker 1: the different countries together and the collaboration has been awesome 311 00:18:56,520 --> 00:18:59,919 Speaker 1: and is continuing to be that way, and we expect 312 00:19:00,040 --> 00:19:04,680 Speaker 1: get to continue at this point. Um. As far as 313 00:19:05,119 --> 00:19:08,600 Speaker 1: the other issues that's going on, that's really between the 314 00:19:08,680 --> 00:19:15,560 Speaker 1: US government, NASA, UH and Russian agency. From our perspective, UM, 315 00:19:15,640 --> 00:19:18,440 Speaker 1: you know, we're we're working with NASA very closely. We're 316 00:19:18,480 --> 00:19:23,720 Speaker 1: working to SpaceX and re expecting the collaboration with Russia 317 00:19:23,760 --> 00:19:27,360 Speaker 1: and Russian Space Agency to continue. All right, Well, we'll 318 00:19:27,400 --> 00:19:30,320 Speaker 1: be watching the launch tomorrow. Of course. Are Ed Ludlow 319 00:19:30,359 --> 00:19:32,400 Speaker 1: will be joining us from the ground of it later 320 00:19:32,400 --> 00:19:34,640 Speaker 1: in the show. Act and co founder and executive chair 321 00:19:35,040 --> 00:19:39,240 Speaker 1: Cam Gafarian, thank you for joining us and good luck. Well. 322 00:19:39,320 --> 00:19:41,960 Speaker 1: Tech regulation is on the minds of lawyers in Washington 323 00:19:42,040 --> 00:19:44,719 Speaker 1: this week. The American Bar Association is holding its annual 324 00:19:44,760 --> 00:19:48,440 Speaker 1: Antitrust meeting. Margaret Investor, Executive Vice President of the European 325 00:19:48,480 --> 00:19:52,280 Speaker 1: Commission responsible for Competition, is one of the special guests. 326 00:19:52,400 --> 00:19:55,119 Speaker 1: She spoke earlier with my colleague David Weston about what 327 00:19:55,200 --> 00:19:58,920 Speaker 1: the ultimate goal of antitrust regulation is to help smaller 328 00:19:58,960 --> 00:20:04,400 Speaker 1: companies grow or protect users. Well, I think as consumers 329 00:20:04,400 --> 00:20:07,719 Speaker 1: we have poorly served if we have to rely on 330 00:20:07,880 --> 00:20:11,159 Speaker 1: the big companies themselves. You know, I just spoke with 331 00:20:11,200 --> 00:20:13,160 Speaker 1: a smaller company the other day and they said our 332 00:20:13,200 --> 00:20:16,760 Speaker 1: payment solution is so much more advanced than what we 333 00:20:16,800 --> 00:20:19,440 Speaker 1: are forced to use with with one of the big companies. 334 00:20:19,680 --> 00:20:22,040 Speaker 1: We want space to be able to show people what 335 00:20:22,119 --> 00:20:25,320 Speaker 1: we can do when it comes to payment solutions. I 336 00:20:25,359 --> 00:20:30,680 Speaker 1: do think that innovation thrive flourish when you have an 337 00:20:30,680 --> 00:20:33,440 Speaker 1: open and consistible market, and that is what we need 338 00:20:33,440 --> 00:20:36,359 Speaker 1: when it comes to technology, uh, to to see it 339 00:20:36,400 --> 00:20:38,960 Speaker 1: move on, not just depending on those who keep the 340 00:20:39,000 --> 00:20:44,359 Speaker 1: gate all right, coming up, closing the gap in tech equity. 341 00:20:44,480 --> 00:20:46,719 Speaker 1: That's what software company Carter is trying to do with 342 00:20:46,800 --> 00:20:50,359 Speaker 1: the help of some celebrities. Will join us next. This 343 00:20:50,560 --> 00:21:05,080 Speaker 1: is Bloomberg. Welcome back to Bloomberg Technology and Emily check 344 00:21:05,080 --> 00:21:09,280 Speaker 1: in San Francisco. What do Serena Williams, Carrie Washington, a 345 00:21:09,480 --> 00:21:12,280 Speaker 1: Rod tan France, Ashley Graham, Steve Nash what do they 346 00:21:12,280 --> 00:21:14,840 Speaker 1: all have in common? Well, they've all come together to 347 00:21:14,880 --> 00:21:17,960 Speaker 1: raise awareness about the power of having equity and how 348 00:21:17,960 --> 00:21:20,800 Speaker 1: it's helped them in their careers. They now teamed up 349 00:21:20,840 --> 00:21:23,480 Speaker 1: with Carter, the valuation software company, to offer a free 350 00:21:23,520 --> 00:21:27,280 Speaker 1: curriculum to help anyone get started. Joining me out is 351 00:21:27,320 --> 00:21:30,800 Speaker 1: the CEO of Carter, Henry Ward. Henry, thank you so 352 00:21:30,880 --> 00:21:33,680 Speaker 1: much for joining us. A lot of people don't understand 353 00:21:33,680 --> 00:21:37,800 Speaker 1: how equity works. They don't understand how to negotiate for equity. 354 00:21:38,000 --> 00:21:40,520 Speaker 1: Why do you think it's so important that people learn 355 00:21:40,880 --> 00:21:45,159 Speaker 1: exactly what this means. We think the world sort of 356 00:21:45,280 --> 00:21:47,840 Speaker 1: in this era of payroll where people rent their time 357 00:21:47,880 --> 00:21:50,800 Speaker 1: for money, uh, and the next era of labor compensation 358 00:21:50,840 --> 00:21:53,960 Speaker 1: will be an ownership one via equity. And it's obviously 359 00:21:54,000 --> 00:21:56,919 Speaker 1: started in Silicon Valley, where uh, you know, it'd be 360 00:21:56,960 --> 00:21:59,240 Speaker 1: weird to work for a tchech company and not get equity. 361 00:21:59,280 --> 00:22:01,760 Speaker 1: It doesn't It's not true in other sectors or any 362 00:22:01,800 --> 00:22:04,840 Speaker 1: other parts of the economy, and so A big part 363 00:22:04,840 --> 00:22:06,760 Speaker 1: of what we're trying to do is educate the world 364 00:22:06,800 --> 00:22:10,280 Speaker 1: about equity as a way to create wealth, uh and 365 00:22:10,359 --> 00:22:13,640 Speaker 1: compensate people. It's weird that people, you know, I think 366 00:22:13,640 --> 00:22:15,760 Speaker 1: in fifty years people think it's crazy that we went 367 00:22:15,840 --> 00:22:18,680 Speaker 1: to work for companies and all we got was cash 368 00:22:18,680 --> 00:22:20,560 Speaker 1: that we got on a payroll system and that was it. 369 00:22:20,960 --> 00:22:22,679 Speaker 1: That we didn't own any of the company that we 370 00:22:22,760 --> 00:22:25,480 Speaker 1: helped build. I think Silken Valley is ahead of the 371 00:22:25,480 --> 00:22:27,920 Speaker 1: world on that and and hopefully the rest of the 372 00:22:27,960 --> 00:22:31,520 Speaker 1: world will follow suit. Walk us through some of the 373 00:22:31,680 --> 00:22:36,520 Speaker 1: lessons that you are teaching in this curriculum. Well so, 374 00:22:36,520 --> 00:22:39,680 Speaker 1: so last year, half a billion dollars of stock auction 375 00:22:39,760 --> 00:22:43,520 Speaker 1: grants weren't exercised by employees. Most if you talk to 376 00:22:43,520 --> 00:22:46,080 Speaker 1: employees about why they didn't exercise their stock auction grants, 377 00:22:46,160 --> 00:22:48,479 Speaker 1: almost always because they didn't know how, they didn't know 378 00:22:48,600 --> 00:22:50,760 Speaker 1: if they should, they didn't know what the implications were. 379 00:22:51,000 --> 00:22:53,760 Speaker 1: So a big part of equity education right now is 380 00:22:53,800 --> 00:22:57,880 Speaker 1: just helping employees understand what equity is, how it invests, 381 00:22:58,000 --> 00:23:00,600 Speaker 1: what it's worth, what the tax implications are, and how 382 00:23:00,640 --> 00:23:03,639 Speaker 1: to think about exercising that and getting liquidity on that. 383 00:23:04,200 --> 00:23:07,600 Speaker 1: It's such an underserved community. You know, so many employees 384 00:23:08,160 --> 00:23:10,879 Speaker 1: work at startups and have no idea what the equity 385 00:23:10,960 --> 00:23:13,640 Speaker 1: or capital structure of the businesses. And a big part 386 00:23:13,640 --> 00:23:15,320 Speaker 1: of helping them figure that out is how do we 387 00:23:15,400 --> 00:23:19,000 Speaker 1: realize that half billion bucks that employees didn't get last year? 388 00:23:19,480 --> 00:23:20,840 Speaker 1: How do we how do we put that back in 389 00:23:20,840 --> 00:23:24,239 Speaker 1: their pockets now. One of the celebrities we've partnered with 390 00:23:24,320 --> 00:23:27,840 Speaker 1: is Serena Williams, and she has said she didn't know 391 00:23:27,880 --> 00:23:31,120 Speaker 1: about equity until much later in her career. She wasn't 392 00:23:31,160 --> 00:23:33,520 Speaker 1: taught this as a child. I actually had an opportunity 393 00:23:33,560 --> 00:23:36,400 Speaker 1: to interview her about her new venture fund a couple 394 00:23:36,400 --> 00:23:38,560 Speaker 1: of weeks ago, and she talked about lessons that she's 395 00:23:38,600 --> 00:23:41,240 Speaker 1: bringing to venture from the tennis court. Take a listen. 396 00:23:42,720 --> 00:23:45,959 Speaker 1: It's really about having a winning attitude and really just 397 00:23:46,040 --> 00:23:49,760 Speaker 1: about understanding that you have to put a lot of 398 00:23:49,800 --> 00:23:52,080 Speaker 1: time into this, you know, and you have to put 399 00:23:52,119 --> 00:23:56,320 Speaker 1: a lot of effort into learning. Why do you think 400 00:23:56,359 --> 00:23:59,680 Speaker 1: financial literacy isn't taught to kids at a younger age. 401 00:24:00,520 --> 00:24:02,919 Speaker 1: It's a great question, Emily. I don't know. When I 402 00:24:02,920 --> 00:24:05,560 Speaker 1: was in high school, I had to take a class 403 00:24:05,560 --> 00:24:08,760 Speaker 1: called medieval history, was required to graduate, but nobody taught 404 00:24:08,800 --> 00:24:11,240 Speaker 1: me how to balance the checkbook. I don't know why 405 00:24:11,800 --> 00:24:14,959 Speaker 1: schools don't teach financial literacy all the way from just 406 00:24:15,080 --> 00:24:18,200 Speaker 1: you know, how how do I plan a budget? All 407 00:24:18,240 --> 00:24:20,480 Speaker 1: the way to you know, how do I evaluate a 408 00:24:20,520 --> 00:24:23,720 Speaker 1: stock auction grant for for a company that I'm going 409 00:24:23,760 --> 00:24:25,919 Speaker 1: to join? UM. I think a big part of the 410 00:24:26,000 --> 00:24:28,800 Speaker 1: private sector and where we can be helpful is creating 411 00:24:28,920 --> 00:24:32,280 Speaker 1: education around that and sharing it with the world. Now, 412 00:24:32,440 --> 00:24:35,400 Speaker 1: Carter is an equity management platform, but you have faced 413 00:24:35,400 --> 00:24:37,919 Speaker 1: your own challenges with equity issues. You were sued by 414 00:24:37,960 --> 00:24:40,680 Speaker 1: a former employee over gender discrimination, and this was employee 415 00:24:40,720 --> 00:24:42,520 Speaker 1: who wasn't in charge of some of your own equal 416 00:24:42,560 --> 00:24:46,160 Speaker 1: pay efforts. I'm curious what you learned from that. Yeah, 417 00:24:46,160 --> 00:24:48,560 Speaker 1: it's it's a really tough one. The story around that 418 00:24:48,680 --> 00:24:50,960 Speaker 1: wasn't that, you know, we may have not been fair 419 00:24:51,000 --> 00:24:53,240 Speaker 1: in gender pay. The story with that we cared a 420 00:24:53,240 --> 00:24:56,200 Speaker 1: lot about equality and we're hypocrites. I think it's really 421 00:24:56,200 --> 00:24:58,640 Speaker 1: tough when you do these things. UM. You know, obviously 422 00:24:58,680 --> 00:25:02,040 Speaker 1: we think we're not only a champion of equity, but 423 00:25:02,040 --> 00:25:04,760 Speaker 1: we practice it at home. People are allowed to disagree 424 00:25:04,800 --> 00:25:06,840 Speaker 1: with that, and we'll figure it out. We're a couple 425 00:25:06,840 --> 00:25:08,800 Speaker 1: of years into this will probably a couple of years more. 426 00:25:10,040 --> 00:25:15,000 Speaker 1: CARDA meantime aggregates data about private companies valuations, cap tables, 427 00:25:15,240 --> 00:25:19,720 Speaker 1: and in this very rapidly evolving macro environment higher inflation, 428 00:25:19,840 --> 00:25:23,200 Speaker 1: we're seeing startups doing down rounds. I'm curious what data 429 00:25:23,400 --> 00:25:27,560 Speaker 1: you're seeing in terms of valuations being under pressure and 430 00:25:27,600 --> 00:25:31,400 Speaker 1: how that will translate into equity for employees. Yeah, it's 431 00:25:31,480 --> 00:25:35,040 Speaker 1: some fascinating to watch. Obviously, there's this great price resetting 432 00:25:35,040 --> 00:25:37,760 Speaker 1: that's happening in the public markets. Uh. You know, private 433 00:25:37,760 --> 00:25:41,119 Speaker 1: markets tend to tend to lack the public markets, largely 434 00:25:41,160 --> 00:25:44,240 Speaker 1: because private private company CEOs don't have to enter transactions 435 00:25:44,280 --> 00:25:46,160 Speaker 1: that they don't want to, and so once they see 436 00:25:46,200 --> 00:25:49,040 Speaker 1: repricing happening in the private markets, they don't necessarily reprice 437 00:25:49,080 --> 00:25:52,040 Speaker 1: their companies. They'll just delay a financing uh and and 438 00:25:52,040 --> 00:25:57,080 Speaker 1: wait till markets uh uh correct in their favor. I 439 00:25:57,119 --> 00:25:59,760 Speaker 1: think what's happening now is we're we're seeing, still at 440 00:25:59,760 --> 00:26:02,520 Speaker 1: the early in mid stages, just record numbers of deals 441 00:26:02,560 --> 00:26:05,159 Speaker 1: being done, so that hasn't slowed down at all. In 442 00:26:05,160 --> 00:26:07,239 Speaker 1: the late stages, we're seeing some of these deals get 443 00:26:07,280 --> 00:26:09,600 Speaker 1: pushed out, but we haven't seen a repricing happening. You know, 444 00:26:09,680 --> 00:26:12,400 Speaker 1: last year we did about seven billion dollars of secondary 445 00:26:12,400 --> 00:26:15,720 Speaker 1: liquidity via car to x for employees. This year will 446 00:26:15,720 --> 00:26:18,320 Speaker 1: probably do tend to twelve billion. Uh. And we haven't 447 00:26:18,320 --> 00:26:21,399 Speaker 1: seen repricing happening in the late stage growth market, but 448 00:26:21,480 --> 00:26:24,800 Speaker 1: we have seen deals get pushed further down as CEOs 449 00:26:24,800 --> 00:26:27,080 Speaker 1: are waiting to see if they can reprice their stock 450 00:26:27,119 --> 00:26:29,760 Speaker 1: in a in a way that they want to interesting. 451 00:26:30,080 --> 00:26:33,919 Speaker 1: All right, hen Rewards, CEO of Carter, thank you for 452 00:26:34,040 --> 00:26:38,320 Speaker 1: joining us and um spreading this idea about financial literacy 453 00:26:38,359 --> 00:26:52,280 Speaker 1: when it comes to equity. It is time now for 454 00:26:52,400 --> 00:26:54,800 Speaker 1: our crypto report, with robin Hood being the latest firm 455 00:26:54,840 --> 00:26:58,160 Speaker 1: to support transactions on the Lightning Network, which is promised 456 00:26:58,160 --> 00:27:02,760 Speaker 1: for Bitcoin believer is with higher volumes of payments, especially 457 00:27:02,920 --> 00:27:06,280 Speaker 1: across borders. Are crypto contributor Stionnale Bossik here with more 458 00:27:06,359 --> 00:27:09,280 Speaker 1: see Emily. There's certainly been a lot more talk about 459 00:27:09,359 --> 00:27:12,000 Speaker 1: the Lightning network here and Lightning Labs is really the 460 00:27:12,000 --> 00:27:16,080 Speaker 1: biggest company that's developing software that's powering the Lightning network. 461 00:27:16,160 --> 00:27:18,240 Speaker 1: And you know, let's talk about what it's used for. 462 00:27:18,560 --> 00:27:21,520 Speaker 1: It's used at places like Robin Hood is facilitating the 463 00:27:21,600 --> 00:27:25,360 Speaker 1: Lightning network, and lad Tene is actually a investor himself 464 00:27:25,440 --> 00:27:30,320 Speaker 1: recently in Lightening Labs, Starbucks, Pizza Hut, Twitter. It's also 465 00:27:30,560 --> 00:27:32,200 Speaker 1: when you look at all the payments that are happening 466 00:27:32,200 --> 00:27:34,640 Speaker 1: in El Salvador, the Lightning network is a big part 467 00:27:34,680 --> 00:27:39,000 Speaker 1: of what's helping make that possible. So to talk about 468 00:27:39,080 --> 00:27:43,160 Speaker 1: this more is Lightning Lab CEO, who develops the software 469 00:27:43,160 --> 00:27:46,000 Speaker 1: that powers the Lightening Network. She's joining us live now 470 00:27:46,080 --> 00:27:50,719 Speaker 1: from Bitcoin twenty two in Miami, Elizabeth Stark, Thank you 471 00:27:50,760 --> 00:27:52,960 Speaker 1: so much for joining us. Elizabeth. You know you have 472 00:27:53,119 --> 00:27:56,320 Speaker 1: this new funding round that has come from Reverend Howard 473 00:27:56,840 --> 00:28:00,800 Speaker 1: valor lad ten of others. What does this actually help 474 00:28:00,920 --> 00:28:04,520 Speaker 1: you do and what does this new protocol Taro actually 475 00:28:04,600 --> 00:28:08,040 Speaker 1: do in terms of helping making bitcoin transfer as much easier. 476 00:28:09,280 --> 00:28:11,360 Speaker 1: First of all, thanks so much for having me. Uh 477 00:28:11,359 --> 00:28:15,520 Speaker 1: and greetings everyone from Miami here or the Bitcoin Tent Conference. 478 00:28:15,680 --> 00:28:17,960 Speaker 1: Um So, it's been quite a week for us in 479 00:28:18,000 --> 00:28:22,359 Speaker 1: the bitcoin and lightning community. On Tuesday, well, we announced 480 00:28:22,440 --> 00:28:25,880 Speaker 1: are seventy million dollar Series BE fundraise for my company, 481 00:28:26,000 --> 00:28:29,600 Speaker 1: Lightning Labs. We're building infrastructure for the Lightning Network and 482 00:28:29,720 --> 00:28:32,080 Speaker 1: what Lightning does is enables people to send instant, high 483 00:28:32,119 --> 00:28:35,720 Speaker 1: volume transactions for low fees over Bitcoin. Lightning is a 484 00:28:35,720 --> 00:28:39,000 Speaker 1: software layer on top of Bitcoin. But we also announced 485 00:28:39,000 --> 00:28:42,280 Speaker 1: in your technology we've been working on called Taro, which 486 00:28:42,440 --> 00:28:46,440 Speaker 1: enables people too in the future send assets, stable coins, 487 00:28:46,480 --> 00:28:49,680 Speaker 1: and really any other currency that out there, potentially using 488 00:28:49,760 --> 00:28:52,600 Speaker 1: Bitcoin as a global monetary network. So we're really excited 489 00:28:52,640 --> 00:28:55,000 Speaker 1: to be working with these investors to understand this long 490 00:28:55,080 --> 00:28:58,240 Speaker 1: term vision and mission to bring financial access to the world. Now, 491 00:28:58,320 --> 00:29:00,920 Speaker 1: financial access? How quickly, Elizabeth, do you think that this 492 00:29:00,960 --> 00:29:05,080 Speaker 1: could start to spread among other comfent countries on aside 493 00:29:05,120 --> 00:29:08,440 Speaker 1: from El Salvador that are looking to adopt Bitcoin at 494 00:29:08,480 --> 00:29:13,160 Speaker 1: a greater rate as a currency. Bitcoin is global, the 495 00:29:13,160 --> 00:29:16,480 Speaker 1: Internet's global, and really what we're seeing is Bitcoin enables 496 00:29:16,480 --> 00:29:20,240 Speaker 1: the Internet of money. Today, I can embedded photo and 497 00:29:20,280 --> 00:29:24,360 Speaker 1: any application on the Internet, you know, Twitter, what's up, Email, 498 00:29:24,720 --> 00:29:27,000 Speaker 1: all of those, But why can't I easily send money 499 00:29:27,160 --> 00:29:31,040 Speaker 1: or value globally natively embedded on the Internet. So the 500 00:29:31,080 --> 00:29:33,200 Speaker 1: way I think about Lightning is it enables two kinds 501 00:29:33,200 --> 00:29:36,400 Speaker 1: of use cases. One use cases that were previously possible 502 00:29:36,520 --> 00:29:39,440 Speaker 1: and to access for those that previously didn't have it, 503 00:29:39,520 --> 00:29:42,000 Speaker 1: and this is a big global issue and an international issue. 504 00:29:42,400 --> 00:29:44,800 Speaker 1: We look at a country like Nigeria, seventy percent of 505 00:29:44,800 --> 00:29:47,640 Speaker 1: the population is thirty or under, Well, what do they 506 00:29:47,640 --> 00:29:50,719 Speaker 1: all have mobile phones? But many of those people may 507 00:29:50,760 --> 00:29:52,760 Speaker 1: not have access to a bank account or something like 508 00:29:52,800 --> 00:29:56,120 Speaker 1: a visa or the traditional financial system. So the way 509 00:29:56,160 --> 00:29:58,280 Speaker 1: that I think about it is, this technology will really 510 00:29:58,400 --> 00:30:02,840 Speaker 1: enable people across the world to tap into the Internet money. 511 00:30:03,000 --> 00:30:05,920 Speaker 1: What the Internet did for access and knowledge and information previously, 512 00:30:06,120 --> 00:30:09,000 Speaker 1: because something like Wikipedia, Bitcoin and Lightning are doing for 513 00:30:09,040 --> 00:30:13,680 Speaker 1: access to money and financial services. Elizabeth. Mainstream awareness of 514 00:30:13,720 --> 00:30:16,760 Speaker 1: cryptocurrency and bitcoin has shot up like a rocket over 515 00:30:16,800 --> 00:30:19,640 Speaker 1: the last couple of years, but there's still such a 516 00:30:19,680 --> 00:30:24,479 Speaker 1: long way to go to clarify confusion around digital assets. 517 00:30:24,520 --> 00:30:28,000 Speaker 1: I'm curious what the themes are at Bitcoin Miami this year. 518 00:30:28,040 --> 00:30:30,800 Speaker 1: What is everyone talking about. What are the you know, 519 00:30:31,240 --> 00:30:36,520 Speaker 1: most hyped issues and the biggest problem issues? Great question, um, 520 00:30:36,640 --> 00:30:39,680 Speaker 1: I think adoption is huge right now. Right the way 521 00:30:39,720 --> 00:30:41,760 Speaker 1: that I think about it, the vast majority of the 522 00:30:41,840 --> 00:30:43,920 Speaker 1: users in the future will not even know that they're 523 00:30:43,960 --> 00:30:46,120 Speaker 1: using to see the Bitcoin and Lightning network. They wanted 524 00:30:46,160 --> 00:30:50,600 Speaker 1: to just work. They want access broadly. In the cryptocurrency space, 525 00:30:50,640 --> 00:30:53,760 Speaker 1: we see a lot of technologies, but some of them 526 00:30:53,760 --> 00:30:56,560 Speaker 1: are in solution in search of a solution, as opposed 527 00:30:56,600 --> 00:30:59,719 Speaker 1: to think about real problems for real people. So what 528 00:30:59,760 --> 00:31:03,280 Speaker 1: I'm being now is a focus on real use cases, 529 00:31:03,320 --> 00:31:05,920 Speaker 1: on real adoption, and the global element. I was just 530 00:31:06,000 --> 00:31:10,200 Speaker 1: chatting with developers today from places like Nigeria, from places 531 00:31:10,240 --> 00:31:13,880 Speaker 1: like uh Guatemala, So this is a global community. And 532 00:31:13,920 --> 00:31:16,520 Speaker 1: this is also what I think distinguishes the Bitcoin community 533 00:31:16,520 --> 00:31:19,880 Speaker 1: from some of the other UM say projects that are 534 00:31:19,880 --> 00:31:22,720 Speaker 1: out there with the focus on actual adoption and real 535 00:31:22,800 --> 00:31:25,640 Speaker 1: use cases as opposed to speculation. UM shout out to 536 00:31:25,680 --> 00:31:29,400 Speaker 1: my friend Lynn Alden who has written great macroeconomic research 537 00:31:29,440 --> 00:31:31,280 Speaker 1: and studies Bitcoin of Lightning, and she talks about the 538 00:31:31,360 --> 00:31:34,440 Speaker 1: utility to speculation ratio and a Bitcoin and Lightning are 539 00:31:34,720 --> 00:31:39,160 Speaker 1: very utility oriented as opposed to merely speculation. Jack Dorsey 540 00:31:39,240 --> 00:31:40,960 Speaker 1: is one of your backers. As I understand it, What 541 00:31:41,080 --> 00:31:44,320 Speaker 1: is it like working with Jack? I know Twitter was 542 00:31:44,360 --> 00:31:48,840 Speaker 1: an early adopter. Jack has been incredible in terms of 543 00:31:49,040 --> 00:31:52,880 Speaker 1: believing in Bitcoin, understanding its value as the Internet's native 544 00:31:52,920 --> 00:31:56,480 Speaker 1: monetary network. He's tweeted about Lightning, he participated in this 545 00:31:56,520 --> 00:31:58,880 Speaker 1: thing called the Lightning torch from people back in the 546 00:31:58,960 --> 00:32:02,120 Speaker 1: day sent and received light transactions globally. And we're really 547 00:32:02,120 --> 00:32:04,280 Speaker 1: grateful to have him on board as an investor and 548 00:32:04,360 --> 00:32:06,400 Speaker 1: as a believer. And one thing about Jack is he 549 00:32:06,560 --> 00:32:10,600 Speaker 1: deeply believes in this mission and sees the potential for 550 00:32:10,680 --> 00:32:14,120 Speaker 1: the Internet of money and sees the global aspect of 551 00:32:14,120 --> 00:32:17,479 Speaker 1: tapping into this and really expanding access for everyone run world. Well, 552 00:32:17,480 --> 00:32:20,280 Speaker 1: it's interesting because Twitter was such an early adopter of this. 553 00:32:20,480 --> 00:32:23,520 Speaker 1: It really was a signal that the creator economy could 554 00:32:23,560 --> 00:32:26,360 Speaker 1: also use bitcoin in a greater way. What have you 555 00:32:26,520 --> 00:32:29,440 Speaker 1: learned from the adoption of Twitter to the Lightning network 556 00:32:29,480 --> 00:32:31,360 Speaker 1: and what do you expect now that Robin Hood and 557 00:32:31,400 --> 00:32:34,800 Speaker 1: other big companies are also adopting it. So what we're 558 00:32:34,880 --> 00:32:37,720 Speaker 1: learning is this technology is global and there are so 559 00:32:37,760 --> 00:32:42,040 Speaker 1: many people around the world with untapped talent who need opportunities. 560 00:32:42,080 --> 00:32:44,640 Speaker 1: And Okay, so let's say there's somebody in Argentina or 561 00:32:44,680 --> 00:32:47,840 Speaker 1: India who as a creator or a coder. Well, if 562 00:32:47,840 --> 00:32:51,520 Speaker 1: you want to send smaller values tapping into the global 563 00:32:51,560 --> 00:32:53,920 Speaker 1: monetary system, the fees will exceed the amount that you 564 00:32:53,960 --> 00:32:56,720 Speaker 1: want to send. So what this technology does, It's so 565 00:32:56,800 --> 00:32:58,880 Speaker 1: powerful is it lets you do what we call streaming 566 00:32:58,920 --> 00:33:01,959 Speaker 1: SATs or stosis, the lowest de nomination of bitcoin. Let 567 00:33:02,000 --> 00:33:04,480 Speaker 1: me see this in use today with podcasts. There's some 568 00:33:04,560 --> 00:33:08,160 Speaker 1: great podcasting two point applications, many thousands operating and Lightning 569 00:33:08,360 --> 00:33:11,280 Speaker 1: you can pay per second, their media aspects where you 570 00:33:11,280 --> 00:33:14,800 Speaker 1: can pay small values forward saying articles, their social networks, 571 00:33:15,040 --> 00:33:17,880 Speaker 1: chat apps, those are all operating over the Lightning network 572 00:33:18,160 --> 00:33:21,240 Speaker 1: like Zion and Sphinx. So what we're seeing is a 573 00:33:21,280 --> 00:33:23,800 Speaker 1: lot of people around the world are not able to 574 00:33:23,840 --> 00:33:26,360 Speaker 1: tap in its early days, don't get me wrong, to 575 00:33:26,680 --> 00:33:30,160 Speaker 1: the capacity to earn and to be compensated for their 576 00:33:30,200 --> 00:33:32,960 Speaker 1: creative work as opposed to in the legacy system where 577 00:33:32,960 --> 00:33:35,520 Speaker 1: the fee would actually be higher than the the amount 578 00:33:35,560 --> 00:33:37,640 Speaker 1: of something. But the fees or something I want to 579 00:33:37,680 --> 00:33:40,840 Speaker 1: get your opinion on here. There's a lot of mistrust 580 00:33:40,880 --> 00:33:44,000 Speaker 1: of the typical financial system, the big banks, credit card 581 00:33:44,040 --> 00:33:48,240 Speaker 1: companies that is emerging over there at bitcoin. When you 582 00:33:48,280 --> 00:33:51,080 Speaker 1: look at the fees that are being charged for cross 583 00:33:51,120 --> 00:33:54,160 Speaker 1: border transactions, for transactions at all, do you think that 584 00:33:54,200 --> 00:33:57,560 Speaker 1: the financial system as it exists now has failed US 585 00:33:59,800 --> 00:34:02,000 Speaker 1: law utually? Yes? So why today do I need to 586 00:34:02,040 --> 00:34:04,240 Speaker 1: send a paper check here in the U S. Why 587 00:34:04,240 --> 00:34:05,720 Speaker 1: do I need to wait days for an A C 588 00:34:05,880 --> 00:34:07,680 Speaker 1: H payment to go through? Over and app like Venmo 589 00:34:08,680 --> 00:34:11,040 Speaker 1: in the US, we're actually behind. We see in emerging 590 00:34:11,040 --> 00:34:14,600 Speaker 1: markets they have faster systems and they can settle far faster, 591 00:34:14,719 --> 00:34:17,480 Speaker 1: but when it comes to interoperability and the global element, 592 00:34:17,480 --> 00:34:20,400 Speaker 1: there's still not a way that has been widely adopted 593 00:34:20,400 --> 00:34:22,920 Speaker 1: by billions for people to send you know, the way 594 00:34:22,960 --> 00:34:25,360 Speaker 1: they're sending data and messages on the internet today, for 595 00:34:25,440 --> 00:34:28,280 Speaker 1: them to send value and money. So I do believe 596 00:34:28,320 --> 00:34:30,799 Speaker 1: you have a number of legacy players who is not 597 00:34:30,920 --> 00:34:34,320 Speaker 1: necessarily in their interests to adapt and to build these new, faster, 598 00:34:34,600 --> 00:34:37,600 Speaker 1: low fee technologies because they're making a lot of money 599 00:34:37,760 --> 00:34:40,239 Speaker 1: off of the high fees they're charging. Now enters something 600 00:34:40,280 --> 00:34:43,120 Speaker 1: like lightning. Today you can send less than one cent 601 00:34:43,280 --> 00:34:46,560 Speaker 1: on lightning for a fraction of that in a fee. Right. 602 00:34:46,680 --> 00:34:49,719 Speaker 1: We see people in Starbucks in El Salvador spending a 603 00:34:49,719 --> 00:34:52,680 Speaker 1: couple of dollars on a coffee today and the fee 604 00:34:52,760 --> 00:34:55,880 Speaker 1: is a fraction of ascent. So the technologies were building 605 00:34:55,920 --> 00:34:58,080 Speaker 1: like this new Taro protocol where you can then send 606 00:34:58,360 --> 00:35:01,720 Speaker 1: assets stable coins over Lightning opens up access to people 607 00:35:02,160 --> 00:35:04,880 Speaker 1: around the world. Nobles opens up to access to merchants 608 00:35:04,920 --> 00:35:06,920 Speaker 1: who want to be able to receive but don't want 609 00:35:06,920 --> 00:35:10,200 Speaker 1: to pay, you know, several percentage points plus a base FIA. 610 00:35:10,239 --> 00:35:13,920 Speaker 1: Al right, Elizabeth starting, Elizabeth, thank you for the energy 611 00:35:13,960 --> 00:35:16,920 Speaker 1: and passion that you brought to this conversation. Co founder 612 00:35:17,080 --> 00:35:21,399 Speaker 1: of Lightning Labs as well as Bloomberg's own Shaun, thank 613 00:35:21,400 --> 00:35:23,520 Speaker 1: you so much. Looking forward to bigcorinizing the world with 614 00:35:23,640 --> 00:35:35,640 Speaker 1: Lightning all right. Back now to SpaceX is all private 615 00:35:35,680 --> 00:35:37,840 Speaker 1: mission to the I S S. The mission part of 616 00:35:37,880 --> 00:35:41,160 Speaker 1: a bigger picture effort to have future private space stations 617 00:35:41,160 --> 00:35:44,200 Speaker 1: in orbit for years to come. Bloomberg's ad Ludlow spoke 618 00:35:44,200 --> 00:35:47,680 Speaker 1: to NASA's head of Human space Flight, Kathy Leaders, about 619 00:35:47,719 --> 00:35:53,120 Speaker 1: where the U. S. Space Agency fits in to the equation. Well, 620 00:35:53,160 --> 00:35:55,120 Speaker 1: you know, part of our job, I feel like, is 621 00:35:55,160 --> 00:35:57,120 Speaker 1: to figure out how to do it and then make 622 00:35:57,160 --> 00:36:00,120 Speaker 1: sure that we're working with companies and other people so 623 00:36:00,160 --> 00:36:02,560 Speaker 1: that they can learn from us. And so that's really 624 00:36:02,600 --> 00:36:04,799 Speaker 1: what's been going on over the last you know, two 625 00:36:04,880 --> 00:36:07,560 Speaker 1: or three years, is that we've been working with these 626 00:36:07,560 --> 00:36:12,040 Speaker 1: different companies, having them do our lessons learned, actually allowing 627 00:36:12,120 --> 00:36:15,200 Speaker 1: them to use the contractor that we use for training 628 00:36:15,640 --> 00:36:20,440 Speaker 1: and and continue to bring industry in on the lessons 629 00:36:20,719 --> 00:36:23,160 Speaker 1: and the fifty sixty years of space flight that we've 630 00:36:23,200 --> 00:36:25,960 Speaker 1: had so that they can do it themselves. So you 631 00:36:26,200 --> 00:36:30,319 Speaker 1: run space operations which includes humans NAS restronauts going from 632 00:36:30,360 --> 00:36:32,960 Speaker 1: a TINIS National Space Station. When do you get out 633 00:36:32,960 --> 00:36:36,200 Speaker 1: of this? What is the actual mission give NASA? I'm 634 00:36:36,239 --> 00:36:38,800 Speaker 1: hoping it gives a whole bunch of us new rides 635 00:36:38,800 --> 00:36:42,160 Speaker 1: in the future and and in twenty thirty years, guess 636 00:36:42,160 --> 00:36:45,400 Speaker 1: what I'm able to do science and research and technology 637 00:36:45,480 --> 00:36:48,560 Speaker 1: development on space stations that I don't have to invest 638 00:36:48,600 --> 00:36:51,200 Speaker 1: in that I'm buying a ride in. You know, what 639 00:36:51,239 --> 00:36:54,560 Speaker 1: we're thinking about is our future. We're thinking about LEO 640 00:36:54,680 --> 00:36:57,800 Speaker 1: economy for the you know, the next hundreds of years. 641 00:36:58,160 --> 00:37:00,759 Speaker 1: And this is our first step for us too in 642 00:37:00,800 --> 00:37:05,080 Speaker 1: the future, be able to buy a laboratory in the sky, 643 00:37:05,360 --> 00:37:08,360 Speaker 1: time on a laboratory in the sky while we're investing 644 00:37:08,400 --> 00:37:11,680 Speaker 1: in going to Mars and Either and even farther out. 645 00:37:12,560 --> 00:37:14,960 Speaker 1: So it's an idea that the private sector kind of 646 00:37:15,000 --> 00:37:17,200 Speaker 1: takes the cost b and of what's needed to be 647 00:37:17,200 --> 00:37:20,200 Speaker 1: in lower forll BIT and you deploy resources to other 648 00:37:20,200 --> 00:37:22,640 Speaker 1: projects that's basically what you're saying. I actually feel like 649 00:37:22,840 --> 00:37:26,680 Speaker 1: it's about the government had a vision when they set 650 00:37:26,760 --> 00:37:29,320 Speaker 1: up NASA, and one of the parts of that vision 651 00:37:29,440 --> 00:37:33,760 Speaker 1: was us to enable our commercial economy and the launch 652 00:37:33,840 --> 00:37:36,880 Speaker 1: economy and the space economy. And so what we've been 653 00:37:36,920 --> 00:37:39,600 Speaker 1: doing is figuring out how to do things and then 654 00:37:39,719 --> 00:37:43,440 Speaker 1: when we feel like industries at an advanced enough stage 655 00:37:43,440 --> 00:37:45,880 Speaker 1: to be able to do it, then we hand that 656 00:37:45,960 --> 00:37:49,399 Speaker 1: piece over, allowed there to be an economic value for it, 657 00:37:49,520 --> 00:37:51,920 Speaker 1: and then move on to the next thing. This is 658 00:37:52,040 --> 00:37:56,840 Speaker 1: really an important idea. When NASA was set up, NASA's 659 00:37:56,840 --> 00:37:59,480 Speaker 1: had a human spaceflight Cathy leaders there. I don't want 660 00:37:59,480 --> 00:38:01,319 Speaker 1: to bring in are at Ludlow now is just a 661 00:38:01,320 --> 00:38:04,319 Speaker 1: few miles from the launch pad for an update on 662 00:38:04,680 --> 00:38:06,279 Speaker 1: how it's all going to go down and what are 663 00:38:06,280 --> 00:38:10,920 Speaker 1: we expecting from this launch tomorrow. Well, we're still expecting 664 00:38:10,960 --> 00:38:12,759 Speaker 1: it's going to go ahead. For one thing. I mean, 665 00:38:12,800 --> 00:38:15,279 Speaker 1: you see it around me. It's pretty stormy here in 666 00:38:15,360 --> 00:38:18,000 Speaker 1: Florida and Cape Canaveral, and there's a lot of concern 667 00:38:18,120 --> 00:38:20,799 Speaker 1: that the mission will be impacted by that because it's 668 00:38:20,800 --> 00:38:24,040 Speaker 1: an instantaneous launch window. That means if they have a 669 00:38:24,080 --> 00:38:27,080 Speaker 1: degree of uncertainty around being able to launch at that time, 670 00:38:27,400 --> 00:38:32,760 Speaker 1: they'll scrub or postpone because the trajectory of the Falcon 671 00:38:32,840 --> 00:38:35,200 Speaker 1: nine booster rocket with the catch on top needs to 672 00:38:35,280 --> 00:38:37,520 Speaker 1: match up in a way that it can reach the 673 00:38:37,560 --> 00:38:41,000 Speaker 1: I S S on that trajectory. So there's confidence. You know, 674 00:38:41,040 --> 00:38:43,080 Speaker 1: we've spared from a lot of Nastro officials today, a 675 00:38:43,080 --> 00:38:45,319 Speaker 1: lot of Axiom and SpaceX officials. That will happen, but 676 00:38:45,320 --> 00:38:48,240 Speaker 1: there is a backup window on Saturday morning. Is Elan 677 00:38:48,320 --> 00:38:51,480 Speaker 1: going to be there? Noe's been busy with Twitter lately, 678 00:38:51,480 --> 00:38:56,720 Speaker 1: but are we expected exciting It's a it's an interesting question. 679 00:38:56,760 --> 00:38:59,480 Speaker 1: He has been at crew missions before, right where SpaceX 680 00:38:59,480 --> 00:39:02,400 Speaker 1: have taken NASA astronauts up to in special space station. 681 00:39:02,640 --> 00:39:05,759 Speaker 1: But he doesn't come to every flight, every human space flight. 682 00:39:05,800 --> 00:39:08,400 Speaker 1: He came for inspiration for for example, and met the 683 00:39:08,440 --> 00:39:11,600 Speaker 1: crew there and on their return. So I'm not quite 684 00:39:11,640 --> 00:39:13,719 Speaker 1: sure if he'll be in the room, although he's got 685 00:39:13,760 --> 00:39:15,839 Speaker 1: a private jet so he could go from Austin very 686 00:39:15,840 --> 00:39:19,560 Speaker 1: early to Friday morning to where I am now. Well, 687 00:39:19,600 --> 00:39:23,040 Speaker 1: I'm sure he'll be tweeting and we can count on that. Meantime, 688 00:39:23,080 --> 00:39:26,960 Speaker 1: things on the International Space Station are ted's given the 689 00:39:27,080 --> 00:39:32,960 Speaker 1: conflict in Ukraine, how has the game changed? Yeah, And 690 00:39:33,000 --> 00:39:34,840 Speaker 1: I spoke to CAFEE leaders about that as well, and 691 00:39:34,880 --> 00:39:37,080 Speaker 1: she pointed out that, you know, space has always been 692 00:39:37,080 --> 00:39:39,440 Speaker 1: a pretty peaceful place between the Russia and US, no 693 00:39:39,480 --> 00:39:42,200 Speaker 1: matter what's going on down on Earth. The reality is 694 00:39:42,280 --> 00:39:45,600 Speaker 1: that relations between the United States and Russia are not 695 00:39:45,680 --> 00:39:49,400 Speaker 1: good right now, and that has impacted the space relationship. 696 00:39:49,440 --> 00:39:52,280 Speaker 1: You have the head of COSMOS, the Russian Space Agency, 697 00:39:52,360 --> 00:39:55,880 Speaker 1: say just on Saturday that the economic and trade sanctions 698 00:39:55,920 --> 00:39:58,200 Speaker 1: that are in place on Russia are damaging to the 699 00:39:58,200 --> 00:40:00,960 Speaker 1: relationship and if they're not lifted, we could even see 700 00:40:01,040 --> 00:40:03,520 Speaker 1: Russia pull out of the I S S agreement. You know, 701 00:40:03,600 --> 00:40:06,160 Speaker 1: Russia and the US have been in partnership with the 702 00:40:06,160 --> 00:40:09,400 Speaker 1: International Space Station since and it went into orbit in 703 00:40:09,480 --> 00:40:13,440 Speaker 1: two thousand. There are three Russian astronauts or cosmonauts on 704 00:40:13,520 --> 00:40:16,360 Speaker 1: the I S S right now, and I asked NASA, well, 705 00:40:16,440 --> 00:40:18,319 Speaker 1: does that mean the Axiom crew can go and say 706 00:40:18,400 --> 00:40:21,000 Speaker 1: hello to them? Because for one of a better explanation, 707 00:40:21,040 --> 00:40:23,799 Speaker 1: there's a sort of US European side of ISSS and 708 00:40:23,840 --> 00:40:25,840 Speaker 1: a Russian side. And what I was told by CAFEE 709 00:40:25,880 --> 00:40:28,400 Speaker 1: leaders is the Axiom crew could go and meet the 710 00:40:28,440 --> 00:40:31,600 Speaker 1: Russian astronauts if the Russians choose to invite them, but 711 00:40:31,640 --> 00:40:34,440 Speaker 1: that's at their discretion. Well, we do know now that 712 00:40:34,480 --> 00:40:38,960 Speaker 1: a seat costs about fifty five million dollars. Accident confirmed 713 00:40:38,960 --> 00:40:44,800 Speaker 1: that earlier in the show. Not necessarily economical for most people. 714 00:40:45,360 --> 00:40:50,799 Speaker 1: And I assume that cost will come down someday. Yeah, 715 00:40:51,040 --> 00:40:53,759 Speaker 1: you know, and also remember the big cost of launches kerosene. 716 00:40:53,760 --> 00:40:56,279 Speaker 1: And with everything that's happening with oil supply right now 717 00:40:56,280 --> 00:40:59,360 Speaker 1: and oil products, that's a factor. SpaceX is race prices 718 00:40:59,360 --> 00:41:01,560 Speaker 1: on his other products because of inflation, you know, in 719 00:41:01,640 --> 00:41:04,239 Speaker 1: terms of what they charge satellite operators to go on 720 00:41:04,280 --> 00:41:08,200 Speaker 1: the transport emission. But yeah, it's a tough one to say, uh, 721 00:41:08,560 --> 00:41:10,600 Speaker 1: on the economics of it. It's a similar price what 722 00:41:10,680 --> 00:41:14,640 Speaker 1: act SpaceX sorry charges NASA perceive fashion nots though, so 723 00:41:14,680 --> 00:41:20,520 Speaker 1: it is comparable, all right, Ed Ludlow at Cape Canaveral. 724 00:41:20,680 --> 00:41:23,080 Speaker 1: Ed will be at the Kennedy Space Center for the 725 00:41:23,160 --> 00:41:25,160 Speaker 1: launch over the next twenty four hours. Of course, if 726 00:41:25,160 --> 00:41:28,160 Speaker 1: it happens ed, we'll be watching your coverage. Thank you. 727 00:41:28,560 --> 00:41:31,279 Speaker 1: That does it for this edition of Bloomberg Technology. We 728 00:41:31,320 --> 00:41:34,600 Speaker 1: will be back tomorrow. With that space X mission from 729 00:41:34,680 --> 00:41:37,560 Speaker 1: the Kennedy Space Center will be space station will bring 730 00:41:37,600 --> 00:41:40,400 Speaker 1: you all developments. Also, don't forget to check out our 731 00:41:40,440 --> 00:41:44,120 Speaker 1: new podcast. You can find it anywhere you get your podcasts. 732 00:41:44,160 --> 00:42:00,799 Speaker 1: I'm Emily checking in San Francisco. This is Bloomberg Day.