WEBVTT - Jackson On The Supreme Court & Space X's ISS Mission 0:00:03.440 --> 0:00:06.720 From the heart of where Innovation, money and power Colli 0:00:07.560 --> 0:00:12.080 in Silicon Valley and beyond. This is Bloomberg Technology with 0:00:12.119 --> 0:00:27.840 Emily Jay primarily Jack in San Francisco, and this is 0:00:27.840 --> 0:00:30.600 Bloomberg Technology coming up in the next hour. A historic 0:00:30.720 --> 0:00:34.280 day in Washington and for the United States. The first 0:00:34.440 --> 0:00:37.160 black woman is appointed to the U s Supreme Court. 0:00:37.640 --> 0:00:41.120 What this means and how her confirmation could impact rulings 0:00:41.159 --> 0:00:44.159 on tech regulation. Plus we'll get the latest on how 0:00:44.200 --> 0:00:47.360 the SEC might handle Elon Musk's delay in announcing his 0:00:47.400 --> 0:00:52.080 Twitter stake and what the penalty could be. We're also 0:00:52.200 --> 0:00:54.760 at the Kennedy Space Center ahead of SpaceX, is first 0:00:54.760 --> 0:00:57.760 of its kind, all private trip to the International Space 0:00:57.760 --> 0:01:01.640 Station put together by Sam We'll talk with the startup 0:01:01.920 --> 0:01:04.720 executive's chair about how it all came together and what 0:01:04.720 --> 0:01:08.160 it means for the future of space travel. And my 0:01:08.240 --> 0:01:12.800 exclusive conversation with the CEO of eBay, Jamie Ioni, on 0:01:12.840 --> 0:01:16.679 the future of ray commerce in a post pandemic world 0:01:17.040 --> 0:01:21.200 and how eBay It's it. Judge Kanji Brown Jackson is 0:01:21.240 --> 0:01:24.240 now the first black woman to become a US Supreme 0:01:24.280 --> 0:01:28.440 Court justice. The Senate confirmed Judge Jackson with three Republicans 0:01:28.520 --> 0:01:31.800 joining all Democrats in a bipartisan confirmation vote joining me 0:01:31.800 --> 0:01:36.119 out and discussed the significance are Jordan Reuben from Bloomberg Law. 0:01:36.280 --> 0:01:39.840 So Jordan's just how significant is this? I do not 0:01:40.000 --> 0:01:45.200 think it can be overstated. That's exactly right. It really 0:01:45.240 --> 0:01:49.120 can't be overstated. The first black woman on the court, 0:01:49.120 --> 0:01:52.280 the first former public defender. It's truly a big day, 0:01:52.520 --> 0:01:55.680 historic day for the Court and for the country as well. 0:01:56.440 --> 0:01:59.200 What can we expect from her in terms of rulings 0:01:59.200 --> 0:02:05.160 across a rain of issues, So as with prior nominees, 0:02:05.280 --> 0:02:07.400 the name of the game has been not giving any 0:02:07.480 --> 0:02:11.280 hints about how that's going to go, and Judge Jackson 0:02:11.360 --> 0:02:14.640 seemed to be Justice Jackson. She stayed to that script 0:02:14.720 --> 0:02:17.679 like prior nominees have as well. So that's going to 0:02:17.720 --> 0:02:19.680 be a bit of a wait and see. And another 0:02:19.720 --> 0:02:22.280 thing that's going to impact that as well, is she 0:02:22.400 --> 0:02:25.880 just going to be one justice replacing a fellow Democratic 0:02:25.919 --> 0:02:29.600 nominee on a court that's dominated by Republican appointees. So 0:02:29.600 --> 0:02:32.359 as far as the impact in terms of rulings, that's 0:02:32.360 --> 0:02:34.000 something that we're going to have to wait and see, 0:02:34.040 --> 0:02:37.560 but certainly doesn't detract from the historic nature of the 0:02:37.639 --> 0:02:42.480 day itself. She could preside over some potentially momentous rulings 0:02:42.520 --> 0:02:46.519 on tech regulation. You've got Republicans and Democrats both pushing 0:02:46.639 --> 0:02:50.080 for better regulation of tech issues. She was asked a 0:02:50.120 --> 0:02:53.440 couple of times about this during the confirmation hearings. But 0:02:53.600 --> 0:02:56.839 do we have any indication of which way she might lean? 0:02:59.240 --> 0:03:01.560 We really don't, not just with tech, but in other 0:03:01.639 --> 0:03:04.240 areas as well. She really stuck to that script of 0:03:04.280 --> 0:03:08.080 not giving any substantive answers of how she might rule. 0:03:08.480 --> 0:03:11.480 And so that's something that we're going to have to 0:03:11.480 --> 0:03:14.080 wait and see when a case might come up, whether 0:03:14.120 --> 0:03:16.680 it's in tech or in any other area as well. 0:03:17.440 --> 0:03:21.160 All right, well, we'll be watching over the next several decades. 0:03:21.280 --> 0:03:25.880 Bloomberg Laws, Jordan Reuben, thank you. It is now day 0:03:25.960 --> 0:03:28.960 three of Elon Musk on Twitter's board, and there are 0:03:29.040 --> 0:03:33.320 some risks with the SEC looming. Did Musk violate rules 0:03:33.400 --> 0:03:36.160 by waiting to declare the size of his Twitter steak? 0:03:36.160 --> 0:03:39.839 Bloomberg's Mark Bergan here with more on that story. Mark, 0:03:39.920 --> 0:03:44.400 what do we know about whether Elon Musk broke any rules? Here? Well, 0:03:44.520 --> 0:03:47.040 right now we know that his disclosure period he was 0:03:47.080 --> 0:03:49.600 he was meant to disclose his share above five percent 0:03:49.840 --> 0:03:53.800 according to SEC rules, anyone several days passed that before disclosing, 0:03:54.320 --> 0:03:56.280 and course as soon as he has closed, the share 0:03:56.320 --> 0:03:59.840 price jumped up I think from about up above fifty 0:03:59.840 --> 0:04:02.040 of a believe um. And so that that he was 0:04:02.080 --> 0:04:04.560 buying shares at that cheaper rate. And and the assumption 0:04:04.640 --> 0:04:07.960 is the market um would have if he disclosed it 0:04:08.000 --> 0:04:10.839 when when at the five percent threshold, Uh, it would 0:04:10.840 --> 0:04:14.080 have been a much higher price. As we know, Elon 0:04:14.160 --> 0:04:18.080 Musk has had a history of what I'll say generously 0:04:18.120 --> 0:04:21.000 a sort of a casual disregard for the SEC um 0:04:21.040 --> 0:04:23.280 and its rules. And so it's unclear this was intentional 0:04:23.520 --> 0:04:27.520 or accidental. Now as I understand it, being a little 0:04:27.600 --> 0:04:31.200 late with your thirteen G for a passive investor might 0:04:31.240 --> 0:04:35.240 not necessarily stimulate the SEC to bring a case. But 0:04:35.600 --> 0:04:39.919 Elon Musk could be different. Why is that right? And 0:04:39.960 --> 0:04:42.320 then later this week, so after first coming out as 0:04:42.320 --> 0:04:46.120 a past investor, he's since refiled as an active investor 0:04:46.240 --> 0:04:49.400 and then joined joined the board, although he's promised not 0:04:49.480 --> 0:04:53.840 to to go with I'm assuming here. You know, there's 0:04:53.920 --> 0:04:58.440 some good coverage in Washington Posts about this. Certainly, Musk 0:04:58.520 --> 0:05:01.080 has a history with the SEC, and so he probably 0:05:01.080 --> 0:05:04.240 gets a lot more attention than anyone other Twitter board 0:05:04.279 --> 0:05:07.799 number or someone else to pull this off. Matt Levine, 0:05:08.080 --> 0:05:10.520 who probably a lot of the viewers are reading, has 0:05:10.600 --> 0:05:13.880 some great series of columns this week about this, uh 0:05:13.920 --> 0:05:17.640 and how just singular Musk is too. It seems like 0:05:18.080 --> 0:05:21.120 at least flaunting the rules, mat Levine, one of our 0:05:21.160 --> 0:05:25.320 own Bloomberg Opinion columnists, What could the penalty be? Uh? 0:05:25.480 --> 0:05:26.880 I don't know at this point. I mean the SEC. 0:05:27.680 --> 0:05:30.120 I guess it's fair to say they haven't been you 0:05:30.120 --> 0:05:34.000 could call them a little toothless thus far. Uh. And 0:05:34.160 --> 0:05:37.160 it's certainly you know, there's there are talks that um 0:05:37.279 --> 0:05:41.160 for Musk prior run ins that he would uh if 0:05:41.200 --> 0:05:44.520 not be removed from Twitter at least pull back on 0:05:44.680 --> 0:05:47.640 some of his unorthodox tweeting, and that clearly hasn't changed 0:05:47.880 --> 0:05:51.880 what comes next here. Obviously we're all wondering how Elon 0:05:52.000 --> 0:05:55.960 Musk could potentially change Twitter. Yeah, I mean, certainly, like 0:05:56.000 --> 0:05:58.960 you know, there's some enthusiasm from from the Twitter rank 0:05:59.040 --> 0:06:02.039 and file, from from what I've talked, at least our understanding, 0:06:02.160 --> 0:06:05.839 and probably chiefly because they're their share price has gone up. Uh. 0:06:06.000 --> 0:06:08.520 You know, Ellen's in parts Silicon Valley, a pretty well 0:06:08.520 --> 0:06:12.960 respective technologist. He's very passionate about what Twitter is dipping 0:06:12.960 --> 0:06:19.440 its toes into decentralized protocols open source cryptocurrencies. As a reminder, 0:06:19.520 --> 0:06:23.520 Twitter is chiefly an advertising business. Elon Musk famously doesn't 0:06:23.520 --> 0:06:26.720 advertise for any of his companies. Um so that you know, 0:06:26.760 --> 0:06:30.520 he's not bringing advertising expertise, although they have on that 0:06:30.600 --> 0:06:34.240 on the board right now. Uh, he's certainly bringing Uh 0:06:34.279 --> 0:06:37.320 you know, he's a prolific tweeter. He's got a huge following. Uh. 0:06:37.560 --> 0:06:41.440 Twitter has probably outside drama even before this for the 0:06:41.480 --> 0:06:44.599 size of the company, and it doesn't seem like Elon 0:06:44.680 --> 0:06:48.799 Musk is going to limit that drama going forward. Blombarks, 0:06:48.839 --> 0:06:53.840 Mark bergain, thank you. Lots of unanswered questions coming up. 0:06:53.920 --> 0:06:57.599 An exclusive interview with eBay CEO Jamie I Known or 0:06:57.640 --> 0:07:00.840 we'll talk about trends in re commerce and how gen 0:07:00.960 --> 0:07:05.040 Z is giving the platform a second line. This is Bloomberg. 0:07:23.160 --> 0:07:26.520 Online shopping has skyrocketed amidst the pandemic, and now eBay 0:07:26.560 --> 0:07:29.120 is out with its annual re commerce report showing that 0:07:29.240 --> 0:07:33.520 gen Z is becoming a bigger driver of second hand sales. 0:07:33.680 --> 0:07:36.160 Joining us now for an exclusive interview is the CEO 0:07:36.440 --> 0:07:38.800 of Eva, Jamie. I know, Nie Jamie. Great to have 0:07:38.840 --> 0:07:41.880 you back here on the show. So how is gen 0:07:42.000 --> 0:07:47.720 Z boosting this revolution in re commerce? Yeah, well, gen 0:07:47.800 --> 0:07:49.600 Z is really driving it. You know when you look 0:07:49.640 --> 0:07:54.240 at gen Z. Just in two thoe of gen Z 0:07:54.400 --> 0:07:57.640 has bought online and a third of gen Z started 0:07:57.720 --> 0:08:01.800 selling online last year, and re commerce really aligns with 0:08:01.920 --> 0:08:05.280 their values. If you think about you know that that demographic. 0:08:05.720 --> 0:08:08.600 You know, they really want to make sure they're finding unique, 0:08:08.680 --> 0:08:12.760 interesting items. But importantly they really care about sustainability and 0:08:12.800 --> 0:08:15.520 how important that is. And that's why, you know, this 0:08:15.600 --> 0:08:18.480 is so important for that generation and we're really leading 0:08:18.520 --> 0:08:21.600 in to support that. Jen Z is also typically more 0:08:21.600 --> 0:08:28.400 price sensitive. How are they responding with forty inflation? Yeah, 0:08:28.440 --> 0:08:30.520 you know it's not just gen Z, it's really across 0:08:30.560 --> 0:08:33.960 the board. If we look over the last two years 0:08:33.960 --> 0:08:37.320 of people have been selling secondhand goods. When you think 0:08:37.360 --> 0:08:40.839 about high gas prices and inflation, etcetera, he may is 0:08:40.880 --> 0:08:43.000 a great place to turn to to sell your pre 0:08:43.120 --> 0:08:46.400 loved items. You know, the average household has four thousand 0:08:46.400 --> 0:08:49.160 dollars of items that they could sell and less than 0:08:49.920 --> 0:08:53.040 of that is online. And like you said, there's amazing 0:08:53.200 --> 0:08:56.720 values in that pre loved You know, take our certified refurbage. 0:08:56.760 --> 0:08:59.360 If the gen Z needs a new laptop, they can 0:08:59.360 --> 0:09:02.120 buy a SERTI five refurbished product. It comes with a 0:09:02.160 --> 0:09:05.920 two year warranty, thirty day hassle free returns eBay money 0:09:05.920 --> 0:09:09.400 back guarantee, and it's a like new product and importantly 0:09:09.400 --> 0:09:12.640 they're saving a product from going into the landfill. Now, 0:09:12.760 --> 0:09:15.000 you were the CEO of Walmart for many years, you 0:09:15.040 --> 0:09:18.600 were the CEO of Sam's Club dot com. The existential 0:09:18.679 --> 0:09:21.880 question for eBay seems to be just how big a 0:09:22.000 --> 0:09:26.719 market can reselling really be? You know, it's massive. We 0:09:26.880 --> 0:09:29.120 just had our investor day and I talked about a 0:09:29.200 --> 0:09:33.600 one point for trillion dollar trend TAM total addressable market, 0:09:33.920 --> 0:09:37.280 and in fact it's actually going faster than new one season, 0:09:37.440 --> 0:09:39.840 So non new one season is going to have more 0:09:39.920 --> 0:09:42.560 growth over the next four or five years. If you 0:09:42.559 --> 0:09:46.480 look at any category on eBay, sneakers, hand bays, collectibles, 0:09:47.080 --> 0:09:51.040 trading cards, sports equipments were only high single digit or 0:09:51.040 --> 0:09:53.199 low double digit and a trade it So there is 0:09:53.240 --> 0:09:55.600 a lot of opportunity and a huge tam for us 0:09:55.679 --> 0:09:58.680 to go after. When you last reported earnings, though, we 0:09:58.720 --> 0:10:01.240 saw eBay lose active buyers, and I know you said 0:10:01.240 --> 0:10:03.520 at the time it was because of a reduction and promotions. 0:10:03.679 --> 0:10:06.240 What kind of marketing do you think is worth it 0:10:06.320 --> 0:10:09.320 to reverse that trend and where does that number of 0:10:09.400 --> 0:10:13.480 active buyers ultimately settle. You know, we're really leading into 0:10:13.559 --> 0:10:17.280 our enthusiast fires on the platform. This is nineteen million 0:10:17.440 --> 0:10:21.840 enthusiasts buyers who buy SEV the g m V and 0:10:21.880 --> 0:10:24.480 they're not only growing, but they're actually spending more on 0:10:24.520 --> 0:10:27.000 the platform, and they're the heart of what makes this 0:10:27.080 --> 0:10:30.760 platform really healthy. So we're really pleased they're they're going 0:10:30.800 --> 0:10:33.680 across categories. So they may come into let's say our 0:10:33.679 --> 0:10:37.160 Parts and Accessories area, and enthusiasts will buy twelve hundred 0:10:37.160 --> 0:10:39.880 dollars in parts and Accessories, but then they'll go on 0:10:39.960 --> 0:10:43.319 and buy in other parts of the site. And that's 0:10:43.360 --> 0:10:45.600 one of the real special effects of the eBay and 0:10:45.640 --> 0:10:48.240 we're seeing that really across the board in in all 0:10:48.280 --> 0:10:51.640 of our focus categories. You're also pushing for eBay and 0:10:51.679 --> 0:10:53.439 some people may not realize this. To become more of 0:10:53.440 --> 0:10:57.600 a destination for luxury goods. You're authenticating handbags, for example, 0:10:57.920 --> 0:10:59.640 But the perception of eBay, I think for a lot 0:10:59.679 --> 0:11:03.720 of people still might be Ebays like an online swap meet. 0:11:03.760 --> 0:11:07.280 How do you reverse that? Yeah, it's changing massively. You know. 0:11:07.360 --> 0:11:11.000 We started with authenticating sneakers over two hundred dollars and 0:11:11.080 --> 0:11:14.080 it's been an amazing experience. We've been growing double digits 0:11:14.120 --> 0:11:16.640 on the backs of triple digits. We're doing the same 0:11:16.679 --> 0:11:20.000 thing in handbags, We're doing the same thing in luxury watches. 0:11:20.320 --> 0:11:23.640 You know, every day incredible products are sold. We just 0:11:23.640 --> 0:11:26.360 sold a Tom Brady card for two point three million 0:11:26.360 --> 0:11:29.199 dollars on the platform. We sell hundreds of thousands of 0:11:29.240 --> 0:11:32.400 dollar watches on the platform, so it's really changing. And 0:11:32.440 --> 0:11:35.920 things like are certified refurbished program. We put eBay money 0:11:35.920 --> 0:11:38.920 back guarantee in a two year warranty. It's making people 0:11:38.960 --> 0:11:41.839 really comfortable with the platform and consumers are really leading 0:11:41.840 --> 0:11:46.400 in one. Are the bright spots in post pandemic e 0:11:46.600 --> 0:11:51.319 commerce as people return to stores and are there those uh, 0:11:51.360 --> 0:11:54.480 certain categories that you think are fading because people you know, 0:11:54.520 --> 0:11:56.680 can go back to the stores in person and and 0:11:56.840 --> 0:12:00.120 won't come back not really. You know, we think the 0:12:00.120 --> 0:12:02.960 metrics that we're seeing are not really pandemic relating. When 0:12:03.000 --> 0:12:06.640 you look at people selling secondhand goods or buying secondhand goods, 0:12:06.920 --> 0:12:09.920 they're leading in even more. You know, when times are tough, 0:12:10.000 --> 0:12:13.160 people look for the amazing values that we have on eBay. 0:12:13.280 --> 0:12:15.640 In fact, a lot of our sellers on the platform 0:12:15.760 --> 0:12:19.280 start is what I call accidental entrepreneurs. They just needed 0:12:19.320 --> 0:12:21.360 a little bit of money, so they started selling on 0:12:21.400 --> 0:12:24.480 the platform and they turned that into a business on eBay. 0:12:24.520 --> 0:12:26.920 In some cases that's a small business where they go 0:12:27.000 --> 0:12:29.600 on to higher employees, and that's really the special part 0:12:29.679 --> 0:12:32.760 of the eBay platform and what we're still seeing. We're 0:12:32.760 --> 0:12:37.360 seeing accidental gen Z entrepreneurs emerging on a lot of 0:12:37.400 --> 0:12:41.000 social platforms like TikTok and Instagram. How are you or 0:12:41.040 --> 0:12:43.719 can you use some of those platforms to drive gen 0:12:43.840 --> 0:12:47.000 z interest? You know, it's really interesting how much they've 0:12:47.000 --> 0:12:49.480 taken to what we're doing. Take sneakers. We had a 0:12:49.600 --> 0:12:52.920 viral campaign go out on sneakers. We had twelve billion 0:12:53.080 --> 0:12:56.839 views of our last TikTok campaign and two million user 0:12:56.880 --> 0:13:00.760 generated videos just highlighting what's happening with the sneaker drops 0:13:00.800 --> 0:13:03.720 on eBay, the great products that we have and the 0:13:03.760 --> 0:13:06.760 amazing values, and so it's exciting to see how that 0:13:06.840 --> 0:13:10.840 community is really embracing eBay. I know there's been talk 0:13:10.880 --> 0:13:16.040 of an eBay digital wallet, but not yet about accepting crypto. 0:13:16.200 --> 0:13:18.719 Are you thinking about it? What kind of conversations are 0:13:18.720 --> 0:13:22.559 you having about potentially accepting cryptocurrency. We are not accepting 0:13:22.600 --> 0:13:26.040 crypto right now. We just added Klarna. We also take 0:13:26.080 --> 0:13:29.559 after pace, so we now have financing and invoicing options 0:13:29.559 --> 0:13:32.080 on the platform. And when we're really excited to talk 0:13:32.120 --> 0:13:34.840 about is we just started to have a digital wallet 0:13:34.840 --> 0:13:37.240 with a cash balance. So now if you sold a 0:13:37.280 --> 0:13:39.920 couple of products on eBay, you're gonna have that cash 0:13:39.960 --> 0:13:42.560 balance sitting right there to go ahead and find your 0:13:42.600 --> 0:13:44.720 next treasure that you want to find on the platform. 0:13:45.000 --> 0:13:47.360 So that's gonna be rolling out over the course this year, 0:13:47.559 --> 0:13:49.280 and we think we'll be really exciting as it comes 0:13:49.280 --> 0:13:52.800 to payments on the platform. Could you accept crypto someday? 0:13:53.440 --> 0:13:56.079 We're really just focused on one of the best types 0:13:56.120 --> 0:13:59.000 of payments that we need. We're continue to expand them 0:13:59.000 --> 0:14:02.640 on the platform. Uh and go from there, all right, 0:14:02.800 --> 0:14:05.080 Eba CEO, Jamie, I know one. Great to have you 0:14:05.120 --> 0:14:16.959 on the show. Thank you for stopping by. Axiom and 0:14:17.000 --> 0:14:19.760 SpaceX are on track to launch the first all private 0:14:19.800 --> 0:14:22.960 crew to the International Space Station Friday. The four person 0:14:23.160 --> 0:14:25.800 crew scheduled to take off from Kennedy Space Center in 0:14:25.840 --> 0:14:28.600 Florida in the morning, dot with the I S S 0:14:28.760 --> 0:14:32.040 on Saturday. SpaceX is providing the Falcon nine rocket and 0:14:32.080 --> 0:14:35.680 Dragon capsule for the crew. But it's Texas startup Axiom 0:14:35.680 --> 0:14:38.920 that has brought this all together. Their executive chair Cam 0:14:38.960 --> 0:14:41.760 Gafari and joins me. Now, Cam, thank you so much 0:14:42.000 --> 0:14:44.400 for joining us. I'm sure you're very excited about the 0:14:44.400 --> 0:14:47.160 next twenty four hours. You are saying this is the 0:14:47.200 --> 0:14:49.840 first all private mission to the I S S. But 0:14:49.840 --> 0:14:52.920 the Russians have been bringing civilians up there, uh for 0:14:53.000 --> 0:14:56.840 a pretty penny. What makes this different? Well, this is 0:14:56.880 --> 0:15:03.960 the first American U all all American, all private astronauts 0:15:04.240 --> 0:15:08.760 to the International Space Station. And you know, we're so 0:15:08.920 --> 0:15:12.760 delighted that we're able to make this happen, uh and 0:15:13.040 --> 0:15:18.520 bring this, uh, you know all together. How much interest 0:15:18.720 --> 0:15:21.440 is there for private trips and how big do you 0:15:21.440 --> 0:15:24.960 think this market could be? Well, I think the market 0:15:25.040 --> 0:15:29.120 is actually growing quite a bit. I mean, this is 0:15:29.160 --> 0:15:32.560 the first first time that we're doing this, but we 0:15:32.760 --> 0:15:36.880 actually pretty much have sold a extreme mission and pretty 0:15:36.960 --> 0:15:41.120 much a extreme mission, and we're now trying to sell 0:15:41.240 --> 0:15:44.720 some seed on a X four mission. So, um, it's 0:15:44.800 --> 0:15:48.280 quite popular and I'm hoping that if it becomes even 0:15:48.360 --> 0:15:51.880 more popular after a X one mission is completed. And 0:15:51.960 --> 0:15:56.000 obviously the I S S schedule can be complicated, are 0:15:56.000 --> 0:16:00.360 you planning to add many more? Yes? Um, I mean 0:16:00.440 --> 0:16:03.040 we um, you know, just just so you know, Emily 0:16:03.400 --> 0:16:08.360 um ACoM Space is a lot more than just bringing 0:16:08.440 --> 0:16:12.160 private astronaut to the space station. We're actually building our 0:16:12.200 --> 0:16:16.560 own UH space station, AXIOM space Station, which will be 0:16:16.640 --> 0:16:20.880 launched in mid two thousand, twenty four, and it will 0:16:21.000 --> 0:16:24.480 dock with the current I S S UH and will 0:16:24.520 --> 0:16:29.880 be operating jointly with the International Space Station until I 0:16:30.120 --> 0:16:35.240 S S retires about two thousand and thirty and then 0:16:35.280 --> 0:16:39.040 we will separate from International Space Station and will be 0:16:39.080 --> 0:16:43.480 the first commercial space space station operating in orbit. So 0:16:43.560 --> 0:16:46.920 how does this differ from the model that Ross Cosmos 0:16:47.000 --> 0:16:51.680 has been offering for so many years? Yes, So, um, 0:16:52.440 --> 0:16:56.040 Ross Cosmos used to take you know, some astronaut to space. 0:16:56.120 --> 0:17:00.600 As you indicated earlier. What we're doing is this is 0:17:00.640 --> 0:17:04.920 really the first step, the first beginning of many beginnings 0:17:04.960 --> 0:17:08.320 that we're creating at Axiom Space. And it's really a 0:17:08.440 --> 0:17:14.400 first chapter, very historic in in in in human space exploration, 0:17:15.040 --> 0:17:19.240 really with a commercial state space taking private astronaut to 0:17:19.320 --> 0:17:23.840 International Space Station, and we will have many other missions 0:17:23.880 --> 0:17:27.520 along with this. Ross Cosmos took maybe one or two 0:17:27.560 --> 0:17:31.520 in the past to International Space Station. By the way, 0:17:31.560 --> 0:17:34.679 these are private astronauts. They're all going to be performing 0:17:34.880 --> 0:17:41.639 many experiments in space UM and we'll be conducting UM research, 0:17:42.640 --> 0:17:47.520 educational activities, clinical research, all sorts of things. That's very 0:17:47.560 --> 0:17:50.480 different just taking a tourist to the International Space Station. 0:17:51.119 --> 0:17:53.879 So the cost for an Axiom trip to the I 0:17:54.160 --> 0:17:57.200 S S, what's the what's the cost of a seat? 0:17:57.200 --> 0:17:59.800 At this point? Were we really are not at the 0:18:00.080 --> 0:18:03.480 where you talk about the financials at this point. The 0:18:03.520 --> 0:18:06.960 Washington Post reported it was five million dollars and seed 0:18:07.040 --> 0:18:12.919 is that ballpark? Ah? Yeah, that's about right. All right. Um, 0:18:12.960 --> 0:18:17.359 So you know, obviously the space landscape is evolving dramatically. 0:18:17.400 --> 0:18:21.879 In the War on Ukraine has changed things. How is 0:18:22.440 --> 0:18:25.320 the relationship between private companies in the US government changing 0:18:25.359 --> 0:18:28.800 as a result of not necessarily being able to use 0:18:28.920 --> 0:18:33.560 or staying away from Russian services and Russian airspace. Yeah, 0:18:33.640 --> 0:18:36.240 so that's a you know, a great question. I mean, 0:18:36.440 --> 0:18:41.560 you know, a space station and collaborations. Actually, it's the 0:18:41.600 --> 0:18:45.240 international partners has been a great thing and it's been 0:18:45.240 --> 0:18:48.520 going on for over twenty years and it's continuing, and 0:18:48.600 --> 0:18:52.320 it's it's something that has unified, uh, you know, all 0:18:52.359 --> 0:18:55.920 the different countries together and the collaboration has been awesome 0:18:56.520 --> 0:18:59.919 and is continuing to be that way, and we expect 0:19:00.040 --> 0:19:04.680 get to continue at this point. Um. As far as 0:19:05.119 --> 0:19:08.600 the other issues that's going on, that's really between the 0:19:08.680 --> 0:19:15.560 US government, NASA, UH and Russian agency. From our perspective, UM, 0:19:15.640 --> 0:19:18.440 you know, we're we're working with NASA very closely. We're 0:19:18.480 --> 0:19:23.720 working to SpaceX and re expecting the collaboration with Russia 0:19:23.760 --> 0:19:27.360 and Russian Space Agency to continue. All right, Well, we'll 0:19:27.400 --> 0:19:30.320 be watching the launch tomorrow. Of course. Are Ed Ludlow 0:19:30.359 --> 0:19:32.400 will be joining us from the ground of it later 0:19:32.400 --> 0:19:34.640 in the show. Act and co founder and executive chair 0:19:35.040 --> 0:19:39.240 Cam Gafarian, thank you for joining us and good luck. Well. 0:19:39.320 --> 0:19:41.960 Tech regulation is on the minds of lawyers in Washington 0:19:42.040 --> 0:19:44.719 this week. The American Bar Association is holding its annual 0:19:44.760 --> 0:19:48.440 Antitrust meeting. Margaret Investor, Executive Vice President of the European 0:19:48.480 --> 0:19:52.280 Commission responsible for Competition, is one of the special guests. 0:19:52.400 --> 0:19:55.119 She spoke earlier with my colleague David Weston about what 0:19:55.200 --> 0:19:58.920 the ultimate goal of antitrust regulation is to help smaller 0:19:58.960 --> 0:20:04.400 companies grow or protect users. Well, I think as consumers 0:20:04.400 --> 0:20:07.719 we have poorly served if we have to rely on 0:20:07.880 --> 0:20:11.159 the big companies themselves. You know, I just spoke with 0:20:11.200 --> 0:20:13.160 a smaller company the other day and they said our 0:20:13.200 --> 0:20:16.760 payment solution is so much more advanced than what we 0:20:16.800 --> 0:20:19.440 are forced to use with with one of the big companies. 0:20:19.680 --> 0:20:22.040 We want space to be able to show people what 0:20:22.119 --> 0:20:25.320 we can do when it comes to payment solutions. I 0:20:25.359 --> 0:20:30.680 do think that innovation thrive flourish when you have an 0:20:30.680 --> 0:20:33.440 open and consistible market, and that is what we need 0:20:33.440 --> 0:20:36.359 when it comes to technology, uh, to to see it 0:20:36.400 --> 0:20:38.960 move on, not just depending on those who keep the 0:20:39.000 --> 0:20:44.359 gate all right, coming up, closing the gap in tech equity. 0:20:44.480 --> 0:20:46.719 That's what software company Carter is trying to do with 0:20:46.800 --> 0:20:50.359 the help of some celebrities. Will join us next. This 0:20:50.560 --> 0:21:05.080 is Bloomberg. Welcome back to Bloomberg Technology and Emily check 0:21:05.080 --> 0:21:09.280 in San Francisco. What do Serena Williams, Carrie Washington, a 0:21:09.480 --> 0:21:12.280 Rod tan France, Ashley Graham, Steve Nash what do they 0:21:12.280 --> 0:21:14.840 all have in common? Well, they've all come together to 0:21:14.880 --> 0:21:17.960 raise awareness about the power of having equity and how 0:21:17.960 --> 0:21:20.800 it's helped them in their careers. They now teamed up 0:21:20.840 --> 0:21:23.480 with Carter, the valuation software company, to offer a free 0:21:23.520 --> 0:21:27.280 curriculum to help anyone get started. Joining me out is 0:21:27.320 --> 0:21:30.800 the CEO of Carter, Henry Ward. Henry, thank you so 0:21:30.880 --> 0:21:33.680 much for joining us. A lot of people don't understand 0:21:33.680 --> 0:21:37.800 how equity works. They don't understand how to negotiate for equity. 0:21:38.000 --> 0:21:40.520 Why do you think it's so important that people learn 0:21:40.880 --> 0:21:45.159 exactly what this means. We think the world sort of 0:21:45.280 --> 0:21:47.840 in this era of payroll where people rent their time 0:21:47.880 --> 0:21:50.800 for money, uh, and the next era of labor compensation 0:21:50.840 --> 0:21:53.960 will be an ownership one via equity. And it's obviously 0:21:54.000 --> 0:21:56.919 started in Silicon Valley, where uh, you know, it'd be 0:21:56.960 --> 0:21:59.240 weird to work for a tchech company and not get equity. 0:21:59.280 --> 0:22:01.760 It doesn't It's not true in other sectors or any 0:22:01.800 --> 0:22:04.840 other parts of the economy, and so A big part 0:22:04.840 --> 0:22:06.760 of what we're trying to do is educate the world 0:22:06.800 --> 0:22:10.280 about equity as a way to create wealth, uh and 0:22:10.359 --> 0:22:13.640 compensate people. It's weird that people, you know, I think 0:22:13.640 --> 0:22:15.760 in fifty years people think it's crazy that we went 0:22:15.840 --> 0:22:18.680 to work for companies and all we got was cash 0:22:18.680 --> 0:22:20.560 that we got on a payroll system and that was it. 0:22:20.960 --> 0:22:22.679 That we didn't own any of the company that we 0:22:22.760 --> 0:22:25.480 helped build. I think Silken Valley is ahead of the 0:22:25.480 --> 0:22:27.920 world on that and and hopefully the rest of the 0:22:27.960 --> 0:22:31.520 world will follow suit. Walk us through some of the 0:22:31.680 --> 0:22:36.520 lessons that you are teaching in this curriculum. Well so, 0:22:36.520 --> 0:22:39.680 so last year, half a billion dollars of stock auction 0:22:39.760 --> 0:22:43.520 grants weren't exercised by employees. Most if you talk to 0:22:43.520 --> 0:22:46.080 employees about why they didn't exercise their stock auction grants, 0:22:46.160 --> 0:22:48.479 almost always because they didn't know how, they didn't know 0:22:48.600 --> 0:22:50.760 if they should, they didn't know what the implications were. 0:22:51.000 --> 0:22:53.760 So a big part of equity education right now is 0:22:53.800 --> 0:22:57.880 just helping employees understand what equity is, how it invests, 0:22:58.000 --> 0:23:00.600 what it's worth, what the tax implications are, and how 0:23:00.640 --> 0:23:03.639 to think about exercising that and getting liquidity on that. 0:23:04.200 --> 0:23:07.600 It's such an underserved community. You know, so many employees 0:23:08.160 --> 0:23:10.879 work at startups and have no idea what the equity 0:23:10.960 --> 0:23:13.640 or capital structure of the businesses. And a big part 0:23:13.640 --> 0:23:15.320 of helping them figure that out is how do we 0:23:15.400 --> 0:23:19.000 realize that half billion bucks that employees didn't get last year? 0:23:19.480 --> 0:23:20.840 How do we how do we put that back in 0:23:20.840 --> 0:23:24.239 their pockets now. One of the celebrities we've partnered with 0:23:24.320 --> 0:23:27.840 is Serena Williams, and she has said she didn't know 0:23:27.880 --> 0:23:31.120 about equity until much later in her career. She wasn't 0:23:31.160 --> 0:23:33.520 taught this as a child. I actually had an opportunity 0:23:33.560 --> 0:23:36.400 to interview her about her new venture fund a couple 0:23:36.400 --> 0:23:38.560 of weeks ago, and she talked about lessons that she's 0:23:38.600 --> 0:23:41.240 bringing to venture from the tennis court. Take a listen. 0:23:42.720 --> 0:23:45.959 It's really about having a winning attitude and really just 0:23:46.040 --> 0:23:49.760 about understanding that you have to put a lot of 0:23:49.800 --> 0:23:52.080 time into this, you know, and you have to put 0:23:52.119 --> 0:23:56.320 a lot of effort into learning. Why do you think 0:23:56.359 --> 0:23:59.680 financial literacy isn't taught to kids at a younger age. 0:24:00.520 --> 0:24:02.919