'Bloomberg Technology' Full Show (01/05/2023)
♪ CAROLINE: I AM CAROLINE HYDE. ED: I AM ED LUDLOW AT THE CONSUMER ELECTRONICS SHOW IN LAS VEGAS. THIS IS A SPECIAL EDITION OF BLOOMBERG TECHNOLOGY. CAROLINE: COMING UP, AMAZON, GENESIS, TRADING, THE LONG LIST OF TECH BUT LAYING OFF STAFF. THIS IS THE MACRO PICTURE ADP PROJECTS IS STRONGER THAN EXPECTED JOBS REPORT TOMORROW. ED: THE DIRECTOR OF THE CYBERSECURITY AND INFRASTRUCTURE SECURITY AGENCY TELLS ME THAT CYBER SAFETY IS A PUBLIC GOOD THAT MAN'S "RADICAL TRANSPARENCY."
WE DISCUSSED WITH GEORGE KURTZ. CAROLINE: SURROUNDED BY ELECTRIC AND AUTONOMOUS TECHNOLOGY, WE HEAR FROM MOBILIZE CEO'S AMBITION TO DRIVE SELF-DRIVING TECH TO THE STREETS. BUT FIRST, LET'S CHECK IN ON THE REALITY OF THE MARKETS AND THE REALITY THAT IS GOOD NEWS AND BAD NEWS. S&P 500 OFF 1.1%. NASDAQ OFF BY 1.5%. THE MACRO PICTURE ONCE AGAIN
LOOKS RESILIENT WHEN YOU LOOK AT THE JOBS PICTURE. ADP NUMBER COMING IN STRONGER THAN EXPECTED. JOBLESS CLAIMS SHOWING RESILIENCY, MEANING THE FEDERAL RESERVE HAS THE BAD WITH KEEP RAISING RATES.
MANY THE MARKET ARE ANTICIPATING THE TERMINAL RATE IS ABOUT 5% BY MID-2023. WE CONTINUE TO SEE BULLISHNESS IN TERMS OF WHERE THE DOLLAR GOES. WE EXPECT INTEREST RATES TO GO HIGHER, THE DOLLAR TOO. LET'S DIVE INTO THE MICRO. I WANTED TO DO A LITTLE BIT OF THE INDIVIDUAL COMPANIES. WESTERN DIGITAL, TALKS ABOUT MERGER. AMID CONCERN AROUND THE MARKETS, MAYBE WESTERN DIGITAL
WILL TEAM UP ITS JAPANESE COMPETITOR. OR MAYBE THAT FORCE WILL BE FOR GOOD. THE SOCK RALLY'S 6.6%. LET'S LOOK AT IT CRYPTO RELATED LENDER.
CRYPTO CAPITAL CURRENTLY 42% LOWER. WHY? THERE SING 40% OF THEIR STAFF. THE MOTTO FALL IN CRYPTO ASSETS MEANT PEOPLE DREW DOWN THEIR DEPOSITS AND HAD TO SELL THEIR ASSETS OFFERED AT DISCOUNTED IT MEANS THE COMPANY IS THEREFORE IN SOME GREAT ISSUES. AMAZON OFF BY MORE THAN 2%. THIS IS AGAIN ALL ABOUT JOBS. WE GET A STRONG PICTURE COMING
FROM A MACRO, WHAT ABOUT THE MICRO? WHAT ABOUT AMAZON SAYING 18,000 JOBS ARE NOW TO GO AS THEY TRY TO REBALANCE FOR THE COSTS COME INTO THE BUSINESS? YOU ARE ALL ABOUT THE LATEST PRODUCTS, BUT YOU HAVE GOT TO BE HEARING ABOUT THAT THE FLOOR OF CES. OR THERE'S CERTAINLY LOTS OF FANFARE HERE IN LAS VEGAS. I HAVE SPOKEN TO BANKERS AND INVESTORS IN ATTENDANCE AND YOU CANNOT GET AWAY FROM WHAT IS HAPPENING IN THE WORLD OF TECH ALLERGY. WHAT I'M HEARING IS THAT BROADLY THEY ARE TALKING ABOUT HOW HARD IT IS OUT THERE. THE DIFFICULTY IN RAISING FUNDS AND MANAGING THE MACRO ENVIRONMENT. WHETHER YOU ARE A STARTUP
EXHIBITING FOR THE FIRST TIME OR ONE OF THE MANY HUNDREDS OF FORTUNE 500 COMPANIES THAT HAVE GONE BIG ON THE EVENT. THIS IS A SPEED DATING OPPORTUNITY. YOU HAVE SOME OF THE WORLD'S BIGGEST CEOS, BANKERS, TOP CUSTOMERS ALL IN ONE PLACE. OF COURSE THEY ARE TALKING ABOUT WHAT IS HAPPENING IN THIS GLOBAL ECONOMY.
AND OF COURSE, NOT JUST TRYING TO THE CONSUMER THEIR LATEST INNOVATIONS BUT WHAT IS HAPPENING WITH THE CONSUMER IN GENERAL. CAROLINE: THE JOB LAYOFFS ARE A REFLECTION OF WORRY AROUND THE CONSUMER. WE'RE GOING TO DIG INTO THAT STORY. WE BRING IN A KEY VOICE ON ALL THINGS AMAZON AND ALL THINGS TECHNOLOGY, HE IS THE AUTHOR OF THEM IS ON AN BOUND. TO PUT IT IN PERSPECTIVE, 18,000 IS KIND OF A DROP IN THE BUCKET NEW LOOK AT THE OVERALL HIRING AND TALENT THAT AMAZON HAS. STILL, IT SIGNIFIES SOMETHING.
>> IT DOES. YOU GO BACK 20 YEARS WHEN AMAZON WAS LAYING PEOPLE OFF AND JEFF BEZOS HAD A MANTRA. I THINK THE CHARGE RIGHT NOW FROM ANDY JASSY IS MUCH DIFFERENT. THE ONLY WAY OUT OF THIS IS TO CUT YOUR WAY OUT. YOU LOOK AT THE RETAIL
BUSINESS, THE OLDEST BUSINESS AT AMAZON IS IN BAD SHAPE IT LOST ABOUT $2.5 BILLION LAST QUARTER. IF YOU BACKOUT ADVERTISING, IT IS PROBABLY MUCH MORE. IT IS HARD TO BELIEVE. SOME OF THAT IS INVESTMENTS IN VIDEO AND AUTONOMOUS DRIVING.
BUT THE BASIC OLDEST BUSINESS AT AMAZON IS MISERABLY UNPROFITABLE. INVESTORS ARE CLAMORING FOR -- TO APPROVE IT AND HIS MIDDLE IS GOING TO BE TESTED. CAROLINE: IT IS TOUGH FOR ANDY JASSY. HOW MUCH DOES HE HAVE THE CONFIDENCE OF THE FOUNDER OF THE BUSINESS? >> FIRST OF ALL, IT IS ALWAYS WORTH NOTING THAT HE INHERITED A LOT OF THESE PROBLEMS. IT WAS JEFF BEZOS IN HIS FINAL YEAR
THAT AUTHORIZED -- PRE-PANDEMIC EXPANSION OF FULFILLMENT CENTERS, PRODUCT LINES AND GEOGRAPHIC EXPANSION. A LOT OF THAT ANDY JASSY HAS HAD TO UNWIND AND NARROW. I THINK HE DOES HAVE THE CONFIDENCE OF INVESTORS. LIKE OF THERE'S NO ACTIVIST INVESTORS AT AMAZON, BUT THERE'S A FANTASTICAL RUMOR ABOUT JEFF BEZOS COMING BACK. ANDY JASSY IS THE CEO FOR A COUPLE OF YEARS BUT IT WILL BE A BIG TEST. HE IS KNOWN FOR WHAT HE DID AT AWS, NOW HE HAS TO PROVE HIMSELF AS CEO OF THE WHOLE BUSINESS. ED:
THE OTHER DAY YOU WERE SPEAKING TO DAVE LIMP WHO RUNS THE DEVICES BUSINESS. WE HAVE ANY SENSE OF THE GRANULARITY WHERE AMAZON IS CUTTING, WHERE HE GOT TOO BLOATED? ANDY JASSY WAS AN AWS GUY AND YOU WOULD IMAGINE THAT PART OF THE BUSINESS IS ALMOST SACRED. >> DOUBLE-DIGIT GROWTH RATES FOR THE NEAR-TERM FUTURE. STILL THE ENGINE OF AMAZON. LEAVE IT ALONE. DAVE ON THE DEVICES SIDE GOT IN TOUCH WITH MYSELF AND MY COLLEAGUES TO SAY REDUCTIONS IN HIS GROUP WERE MORE LIMITED THAN PEOPLE THOUGHT. AND THAT IS MY POINT HERE THESE 18,000 LAYOFFS ARE IN THE CORE BUSINESS. THAT'S RETAIL, HR AND
RECRUITING. THIS IS REALLY ANDY JASSY LOOKING AT THE COST STRUCTURE FOR THE VERY BASIC PART OF THE BUSINESS. LAST YEAR WAS ABOUT WHITTLING DOWN THE EXPERIENCES THAT WEREN'T WORKING. THIS YEAR'S ABOUT RIGHTSIZING THAT CORE PART OF THE BUSINESS AND SHOWING INVESTORS THAT AMAZON'S OLDEST BUSINESS IS STILL THE BEST. ED: WE SHOWED THAT CHART ON THE SCREEN THAT DEMONSTRATES 18,000 JOBS BEING CUT. IN THE GRAND SCHEME OF AMAZON'S SIZE, IT IS SMALL BUT NEVER PLEASANT TO LOSE ONE'S JOB.
IT IS NOT THE ONLY TECH NAME THAT IS TAKING THIS ACTION. SALESFORCE ALSO BUILDING OUT, ALREADY REPORTED PLANS TO DOWNSIZE. WHAT DO WE KNOW? >> 8000 LAYOFFS. SMALLER THAN AMAZON BUT MORE CONSEQUENTIAL BECAUSE THAT IS 10% OF THE STAFF. THE STORY IS THE SAME. IF YOU ARE A FAST-GROWING COMPANY, INVESTORS ARE OK WITH LOW MARGINS.
WHEN GROWTH RATES SLOW, THEY WANT PROFITABILITY. SALESFORCE FOR THE FIRST TIME IN AS LONG AS I CAN REMEMBER, IS GUIDING FOR THE CURRENT ORDER UNDER 10% GROWTH RATE. THAT IS NOT GREAT. AT THE SAME TIME, YOU'VE GOT AN ACTIVIST INVESTOR CLAMORING THEM TO CUT COSTS. YOU HAVE BRITT TAYLOR WHO WAS THE CO-CEO LEAVING. STEWART BUTTERFIELD LEAVING. BIG INFLATED HEADCOUNTS FROM RECENT ACQUISITIONS LIKE TABLEAU. IN MANY RESPECTS, IT'S THE SAME
STORY. INVESTORS ARE GETTING IMPATIENT AND THEY WANT TO SEE COMPANIES SHOW MORE PROFITABILITY. CAROLINE: BRAD, GREAT TO CATCH UP WITH YOU.
FOR MANY OF YOU STILL THINKING THE WORST IS YET TO COME, MORE REPORTS FROM BRAD STONE, BLOOMBERG'S HEAD OF GLOBAL TECH COVERAGE. YOU MIGHT RECALL HEADLINES COMING OUT OF THOUGH THAT OUR JOBS RELATED. GENESIS CUTTING ABOUT 30% OF THEIR HEADCOUNT. WE ALSO HEARD SILVER GET CAPITAL LAYING OFF 40%.
A BARRAGE OF HEADLINES AROUND U.S. AUTHORITIES CLOSING IN ON SAM BANKMAN-FRIED'S INNER CIRCLE. FANATICS -- IN SOFTBANK BACKED NFT FIRM. THERE'S ONLY ONE WOMAN IN THE BUSINESS WHO CAN TAKE US THROUGH ALL THESE HEADLINES PEERS SONALI BASAK CAN WE START WITH THE JOBS CUT. WE HAVE COME OFF THE BANK --
BACKS OF AMAZON, ABSOLUTELY DRAMATIC MOVE IN SHARE PRICE ON THE BACK OF DRAMATIC MOVES. SONALI: GIVEN SILVER GETS EXPOSURE TO CRYPTO, A FEW INTERESTING THINGS ARE TO NOTE. $8.1 BILLION OF RUN ON DEPOSITS SPEND MORE THAN $700 MILLION WORTH OF LOSS ON SECURITIES. INTERESTINGLY YOU HAVE ANALYSTS COMING OUT AND SAYING, THERE ARE VERY FEW BANKS WHO CAN SIT THERE AND TAKE IT BILLION DOLLARS WORTH OF WITHDRAWALS AND RUN ON DEPOSITS. THERE IS A TWO SIDED STORY, BUT SOMETHING TO WATCH VERY CLOSELY. $8 BILLION IN DEPOSITS USUALLY
LEADS TO MORE RUNS ON DEPOSITS. HOW DID THEY STEM THE BLEEDING? GENESIS, THE REASON THAT IS SO INTERESTING WITH THE 30% STOCK CUT ISSUE IS THAT BROADER ISSUE. LOOKING AT SYSTEMIC RISK, NOT JUST THE SINGLE ONE-OFF ISSUES, GENESIS GLOBAL TRADING IS FACING A LOT OF THESE CUTS. GENESIS GLOBAL TRADING DID NOT HALT TO VIDEO. IT WAS GENESIS LENDING, THE SUBSIDIARY THAT HAD HALTED WITHDRAWALS. THE FACTOR YOU'RE NOW SEEING ISSUES HERE FINANCIALLY AND LOOKING TO STEM ISSUES THROUGH THE VEIN OF JOB CUTS FOR A LARGER PART OF THIS DIGITAL CURRENCY GROUP EMPIRE, THAT'S REALLY THE HEART OF THE ISSUE. ED: HELLO FROM LAS VEGAS.
ANOTHER BUSY DAY FOR YOU, MY FRIEND. IT IS HARD TO KEEP TRACK OF ALL THE HEADLINES FROM THE CRYPTO COMMUNITY. FOLKS ARE TALKING. THERE IS STILL A FOCUS ON SBF AND THE LATEST ON HIM. THERE'S A PROBE INTO A CONFIDANT. WHAT IS THE LATEST? LOOK AT IT THIS WAY. THERE HAS ALREADY BEEN CAROLINE
ELLISON AND GARY WANG WHO HAVE PLED GUILTY. WHEN YOU LOOK AT THE COUNTS BROUGHT FORWARD, THE CRIMINAL COUNTS BROUGHT FORMATIVE BY U.S. AUTHORITIES. ANOTHER DEPUTY A PART OF THE PENTHOUSE SUITE STAYED IN THE BAHAMAS WHEN IT CAME TO WHERE SAM BANKMAN-FRIED LIVED, HE WAS ALSO CLOSE TO HIS BROTHER. AND DIRECTOR OF ENGINEERING OVER AT FTX. THE INNER CIRCLE. WE HAVE NOW THAT AUTHORITIES
ARE LOOKING MORE CLOSELY AT HIM AS WELL. WE DON'T KNOW WHETHER HE WILL BE ACCUSED OF WRONGDOING OR WHETHER HE IS ONE OPERATING. THOSE FACTS WILL BECOME IMPORTANT WHEN WE LOOK AT THIS OVERALL INVESTIGATION INTO THE FTX EMPIRE ITSELF. WHO KNEW WHAT ANDREW DID WHAT WHEN IT CAME TO CUSTOMER MONEY? POTENTIALLY TAKING IT. THEY WERE ACCUSED OF TAKING THE MONEY AND PAYING FOR PERSONAL ASSETS AT THE END OF THE DAY. CAROLINE: TALKING ABOUT CUSTOMER MONEY, TISH JAMES GETTING BUSY TO START OFF THE YEAR. SHE IS THE ATTORNEY GENERAL OF
NEW YORK. LOOKING AT CELSIUS, ANOTHER KEY AREA THAT CRUMBLED. SONALI: 70 STRONG WORDS CROSSING WIRES. I WANT TO READ WITH LATIFAH JAMES SAID ABOUT ALEX LEGEND SKI SAID. THE TEACHER JAMES SAYING HE PROMISED -- TO FINANCIAL FREEDOM BUT LET -- LET THEM DOWN A PATH OF RUIN. WE TALKED ABOUT BIG LENDERS AND WHAT THEIR RESPONSIBILITY WAS.
WHEN THEY ARE NOT FDIC INSURED. WITH THE ATTORNEY GENERAL IS TELLING YOU HERE IS THE NEW YORK ATTORNEY IS TELLING YOU THAT THEY'RE RESPONSIBLE FOR CUSTOMER MONEY, REGARDLESS OF THE BACKSTOP. LET ALONE THE ISSUE THAT CELSIUS IS FACING. OF ALL OF THESE STORIES, IT IS WORTH BROADENING OUT AT A TIME WHEN WE ARE ALREADY CONCERNED, THE INDUSTRY IS SO CONCERNED ABOUT THE WHOLE BACK OF LENDING IN THE INDUSTRY.
REMEMBER, CELSIUS IS ALWAYS GOING THROUGH ITS OWN PROCESS. AND NOW BEING ACCUSED OF RUNNING A SCHEME THAT RAN FOR YEARS. ED: BLOOMBERG, CRYPTO, WALL STREET SONALI BASAK, THANK YOU. COMING UP IN LAS VEGAS,
PANASONIC UNVEILING NEW PROJECTS AND EXPANDED PARTNERSHIPS AT THIS YEAR'S CES. CONVERSATIONS WITH THE CEO OF ITS NORTH AMERICAN DIVISION TO LEARN MORE ABOUT WHAT IT HAS IN STORE FOR HIS NEXT. THAT'S FOR CONSUMERS NEXT. THIS IS BLOOMBERG. ♪ >> THERE IS STILL SOME FOCUS ON CONSUMER GADGETS AND ELECTRONICS AT CES THIS YEAR. SAMSUNG IS THINKING ABOUT CHEAPER MULTIFUNCTIONAL DEVICES. THE ELECTRONICS GIANT IS
SHOWING OFF A NEW VERSION OF ITS BUDGET SMARTPHONE. THE A 14 FRIDAY HAS AN UP EDIT 13 MEGAPIXEL FRONT FACING CAMERA AND A 6.6 INCH SCREEN. WITH ECONOMIC SLOWDOWN GLOBALLY, SAMSUNG IS OPENING THE ENTRY-LEVEL PHONE APPEALS TO MORE BUDGET FRIENDLY CONSUMERS. MORE EXTENSIVE ASSETS TO BE HAD IN 2023. THE KOREAN TECH DIET IS ALSO THINKING ABOUT WHAT YOU ARE DOING AT HOME.
DOUBLING UP A NEW SMART HOME CONTROL DEVICE AS A WIRELESS CHARGING PAD WILL HELP IT BEAT COMPETITION FROM THE LIKES OF AMAZON. THIS COST $80 AND CONNECT TO A USER'S PHONE OR TABLET AND ALSO BE USED COOPERATE SMART HOME ACCESSORIES LIKE FRIDGES. SAMSUNG HAS ADDED THAT WIRELESS CHARGING HUB FOR YOUR EARBUDS.
ED: THAT IS WHAT IT IS LIKE ON THE EXHIBITION FOUR. SAMSUNG LOOKING AT THEIR PRODUCTS, LOOKING FUN AT THE IDEA THAT CES HAS BEEN ALL ABOUT CARS FOR SO LONG YOU FORGET, THERE ARE SOME CONSUMER ELECTRONICS. I THOUGHT IT INTERESTING THAT SAMSUNG DID FOCUS ON THE LOW END. BUDGET CONSCIOUS CONSUMER, NOT THE DAZZLING ASPECTS THAT OTHERS ARE FOCUSED ON IN RECENT RELEASES. CAROLINE:
ALSO YOU TAP MUCH BROADER GLOBAL MARKETS BY HAVING ENTRY POINTS AT SUCH A PRICE POINT. I FEEL LIKE THE BUZZWORD IS ALSO AI. I WAS READING GREAT STORIES AND COVERAGE FROM YOU AND OTHERS, APPARENTLY YOU CAN GET AN AI BIRDFEEDER. BABY CARRIAGE. FATIGUE FIGHTING WRISTWATCH. WHAT OTHER EXTRAORDINARY THINGS ARE YOU SEEING? ED: LAST NIGHT WAS WEIRD. ARNOLD SCHWARZENEGGER WAS ON STAGE. DAVID HASSELHOFF WAS IN A VIDEO. BMW TAPPED THEIR -- WE WILL GET TO THAT LATER.
THE OTHER BIG NAME IS PANASONIC. THE JAPANESE ELECTRONICS GIANT IS NO EXCEPTION TO THE RULE. PANASONIC'S MAIN BUSINESS IN NORTH AMERICA IS BATTERIES. ITS BIGGEST CLIENT IS TOP OF MIND. I SPOKE TO THE NORTH AMERICAN CEO MEGAN LEE. >> WE ARE ALL ABOUT CUSTOMERS.
PANASONIC HAS BEEN IN BUSINESS IN THE U.S. FOR 60 YEARS. WE ARE FOCUSED NOW ON TECHNOLOGY AND SOLUTIONS FOR CUSTOMERS. WE LOVE OUR PARTNERS BUT WE REALLY WANT TO DELIVER A PRODUCT , A TECHNOLOGY AND SERVICE THAT FITS CUSTOMER NEEDS. ED: WHEN YOU MAKE AN ANNOUNCEMENT LIKE THIS, THE FORWARD-LOOKING ELECTRONICS SHOW COME IT A PRODUCT LIKE THAT IF YOU WAIT PIPELINE OF BUSINESS? >> YES. AS A 100-YEAR-OLD COMPANY, WE GREW UP WITH CS TWO. WE HAVE A PARTNERSHIP WITH CS AND CTA.
OUR MESSAGE THIS YEAR IS SUSTAINABILITY. ED: YOU WERE ON THE COVER OF THE MANAGING -- MAGAZINE. KAL PENN WAS ON STAGE? >> HE IS OUR CLIMATE AMBASSADOR. WHAT HE BRINGS, WHAT HE IS PASSIONATE ABOUT AND WHAT HE WANTS TO DO IS IN ALIGNMENT WITH OUR MESSAGE. WHAT WE ARE DEMONSTRATING ON THE FLOOR AND OUR MESSAGE IS WE BELIEVE IN OUR CORE BELIEF IS CONTRIBUTION TO SOCIETY. WE ARE REALLY EXCITED THAT THIS YEAR IS ALL ABOUT SUSTAINABILITY FOR THE FUTURE, BUT ALSO THE CURRENT AS WELL. OUR BIGGEST BUSINESS IN NORTH
AMERICA RIGHT NOW IS EV BATTERIES. WE MADE AN ANNOUNCEMENT TWO MONTHS AGO TO INVEST AN ADDITIONAL $4 BILLION IN KANSAS. FOR THE SECOND BATTERY FACTORY. WITH THAT, WE HAVE 4500 EMPLOYEES AS IS, JUST FOCUSED ON MANUFACTURING EV BATTERIES. THAT IS GOING TO ADD ANOTHER 4000 EMPLOYEES AND WE ARE BULLISH ABOUT WHAT WE ARE DOING IN EV BATTERIES AND ELECTRIFICATION OF TRANSPORTATION. ED: LET'S STICK WITH BATTERIES. THE STORY AROUND TESLA READ -- TESLA RIGHT NOW IS ABOUT CONCERN FOR DEMAND.
MY QUESTION TO YOU IS, IF THERE IS A DROP-OFF IN DEMAND FOR CUSTOMERS LIKE TESLA, DOES THAT IMPACT DEMAND FOR PANASONIC'S BATTERY CELLS, OR DOES A CUSTOMER LIKE TESLA HAVE TO -- VOLUME ANYWAY? >> WE ARE NOT THAT CONCERNED RIGHT NOW. WE ARE TRYING TO PROVIDE A QUANTITY AND QUALITY THAT TESLA IS LOOKING FOR. WE HAVE ABOUT 10 YEARS OF EXPERIENCE WORKING WITH TESLA, WHICH HAS BEEN WONDERFUL. AS A 100 EUROS JAPANESE COMPANY, WORKING WITH TESLA HAS BEEN WONDERFUL. WE ALSO ANNOUNCED THE
PARTNERSHIP WITH -- AND WE ARE DIVERSIFYING OUR CONTRIBUTION IN EV BATTERIES FOR THIS MARKET AND WE ARE NOT WORRIED. WE ARE EXCITED. CAROLINE: PANASONIC NORTH AMERICA CEO. INSTACART CEO NORAH JONES ON THEIR LATEST TECHNOLOGIES INCLUDING PAPER CARD. THIS IS BLOOMBERG. POLANCO NOW WE CATCH UP AT THE INSTACART CEO, ASKING ABOUT HOW THE COMPANY IS THINKING MORE BE TO -- BECOMING A TECHNOLOGY SOLUTION. >> WE ARE INCREASINGLY FOCUSED ON BECOMING A RETAIL ENABLEMENT PLATFORM. IN ADDITION TO OUR MARKETPLACE, WHICH HE DESCRIBED THAT PERSONALIZED SHOPPING, WE ARE ALSO OFFERING TECHNOLOGY TO ENABLE OUR GROCERY PARTNERS TO BRING TECHNOLOGY INTO THEIR STORES. AT CES THIS YEAR WE ARE
SHOWCASING OUR PAPER CARTS, WHICH ARE AI COMPUTER VISION ENABLED SHOPPING CARTS THAT LET CONSUMERS CHECK OUT AS THEY SHOP. WE ARE SHOWING ELECTRONIC SHELL TAGS, CARROTS TAGS THAT HELP SHOPPERS MORE EASILY FIND WHAT THEY ARE LOOKING FOR. WE ARE ALSO SHOWCASING INTEGRATIONS BETWEEN OUR APP AND THE SOFTWARE. THE SHOPPING LIST YOU WILL HAVE ON INSTACART YOU CAN ALSO ACCESS IF YOU ARE SHOPPING IN STORE. THAT WILL BE A GREAT INTEGRATION THAT REALLY RECOGNIZES THE FACT THAT CUSTOMERS INCREASINGLY ARE SHOPPING BOTH MORE ONLINE AND IN STORE. CAROLINE: ALSO, ADVERTISING. IN AND OF ITSELF ON THE PLATFORM. UI AM SURE ARE DEEPLY
INTEGRATED IN THIS. TELL ME ABOUT HOW YOU ARE LOOKING TO MAKE THAT PROCESS EASY, MAKE THAT EVOLVE FOR THE USERS YOU HAVE. >> WE LOVE THAT OUR PLATFORM CAN HELP OUR CUSTOMERS DISCOVER NEW BRANDS THAT THEY WILL FALL IN LOVE WITH AND WILL BECOME PART OF THEIR WEEKLY SHOPPING ROUTINE. WE HAVE A ROBUST SUITE OF ADVERTISING PRODUCTS.
EVERYTHING FROM OUR CLASSIC SPONSOR PRODUCTS ALL THE WAY THROUGH TO NEW LAUNCHES LIKE SHOP A BULL VIDEO THAT LETS BRANDS TELL A MORE WHOLESOME STORY AND ACT MORE LIKE A SOLUTION TO INSPIRE USERS WHO MIGHT NOT HAVE CONSIDERED THAT PRODUCT, TO ADD TO THEIR CART. WHAT IS GREAT AS YOU CAN REALLY TRACK THE EFFICACY OF THESE ADS IN A WAY THAT IS QUITE UNIQUE. CAROLINE: COMING UP, ALL THINGS CYBERSECURITY WITH CLOUD STRIKE CEO GEORGE KURTZ. THIS IS BLOOMBERG. ♪ SHERY: -- CAROLINE: WELCOME BACK. ED LUDLOW IS AT CES IN LAS VEGAS. ED:
WE JOKED ABOUT HOW AUTOMOTIVE TECHNOLOGY DOMINATES BUT YOU HAVE SAMSUNG HERE WITH SPLASHY DISPLAYS. THERE'S AN EMPHASIS ON CYBERSECURITY. I CAUGHT UP WITH JEN EASTERLY WHO IS HITTING ON YOU NEED TO BE FOCUSED ON CYBERSECURITY. GUEST: THIS IS FUNDAMENTALLY ABOUT KEEPING THEM SAFE. WE LIVE IN A WORLD THAT IS HIGHLY DIGITIZED. THE INFRASTRUCTURE WE DEPEND ON IS UNDERPINNED BY TECHNOLOGY SO IT'S ALL ABOUT DOING RIGHT BY YOUR CLIENTS.
I THINK BOARDS AND CEOS AND BUSINESS LEADERS NEED TO LOOK AT CORPORATE CYBER RESPONSIBILITY IN THE WAY THEY LOOK AT CORPORATE SOCIAL RESPONSIBILITY. IT'S A SOCIAL GOOD IT'S ABOUT SOCIETAL RESILIENCE. WITH EVERY THING CONNECTED THESE DAYS, YOU CAN'T JUST WORRY ABOUT YOUR OWN COMPANY. WE HAVE TO START PUTTING -- STOP PUTTING SELF-PRESERVATION OVER COLLABORATION. ED: YOU BEEN UP ON STAGE, YOUR AUDIENCE IS SITTING THERE. THE ON THAT, HOW DO YOU ENCOURAGE THEM TO DO THIS IN PARALLEL WITH WRITING CODE OR DEVELOPING NEW PROGRAMS? GUEST: THERE ARE MANY WAYS. IF YOU GO BACK TO THE 1960'S,
EVERYBODY BLAMED CAR CRASHES ON BAD DRIVERS. THEN THERE WAS A WHOLE MOVEMENT ABOUT CARS ARE UNSAFE AT ANY SPEED BECAUSE THEY DON'T HAVE SEATBELTS, AIRBAGS, ANTILOCK BRAKES. ULTIMATELY DOWN THE ROAD, IT MAY BE A RADEL -- MATTER OF REGULATION. NOW WHAT WE NEED TO DO IS INFORM OUR CONSUMERS ABOUT THEIR BASIC SAFETY AND A NEED TO BE DEMANDING RADICAL TRANSPARENCY FROM THE SOFTWARE MAKERS ABOUT WHETHER THEY'RE BUILDING SOFTWARE THAT IS SECURE BY DESIGN SO LESS AND LESS FLAWS AND DEFECTS AND SECURE BY DEFAULT WITH SECURITY FEATURES LIKE MULTIFACTOR AUTHENTICATION, BAKED INTO THE PRODUCT. SO I DON'T HAVE TO TELL MY 90-YEAR-OLD MOTHER OR MY KID YOU HAVE TO ENABLE MFA. THEY HAVE NO IDEA WHAT THAT IS. THIS IS ABOUT CONSUMER SAFETY
AND AGAIN, I LOVE INNOVATION BUT THE INCENTIVES ARE SKEWED. WE NEED TO BALANCE THE INCENTIVES AND AT THE SAME TIME, LEADERS NEED TO LOOK AT THE CYBER RISK AS A CORE BUSINESS RISK. ED: ARE THERE MORE THINGS CROSSING YOUR DESK AS YOU SEE A RAMP UP? GUEST: I'VE BEEN DOING THIS FOR A REALLY LONG TIME. EVERY YEAR, THEY ASKED THE SAME
THING IS IT GOING TO BE THE SAME ARE GOING TO SEE MORE THREATS AND MORE ATTACKS AND MORE RANSOMWARE? I DON'T THINK THAT IS SUSTAINABLE GIVEN THAT EVERYTHING IS INCREASINGLY DIGITIZED AND CONNECTED. $6 TRILLION CYBERCRIME DAMAGES LAST YEAR PROJECTED TO BE $8 TRILLION THIS YEAR. THAT IS THE GDP OF INDIA GERMANY AND THE U.K. COMBINED. WE CANNOT CONTINUE TO ALLOW THIS TO HAPPEN, IT'S NOT SUSTAINABLE. WERE TRYING TO MOTIVATE A MOVEMENT WHERE CONSUMERS ARE ASKING HARD QUESTIONS SO THE TECHNOLOGY ARE THINKING ABOUT SAFETY AS MUCH AS INNOVATION. THE CORE BUSINESS LEADERS AND CEOS AND BOARDS ARE EMBRACING CORPORATE CYBER RESPONSIBILITY AS GOOD GOVERNANCE AND TRYING TO CREATE A PARADIGM SHIFT OF HOW GOVERNMENT AND INDUSTRY RELATE TO EACH OTHER. ED:
I THINK ABOUT THE WORLD -- THE WAR IN UKRAINE. IS THAT DRIVING AN INCREASE IN RANSOMWARE ATTACK'S IN THE UNITED STATES? GUEST: NO, I DON'T TICKETS DRIVING AT BUT IT IS A REMINDER THAT THERE ARE VARIOUS SERIOUS THREATS OUT THERE WHETHER IT'S RUSSIA, CHINA, IRAN, NORTH KOREA, OR CYBER CRIMINALS GIVEN SAFE HAVEN AND SPONSORED BY SOME OF THESE NATIONS THAT CAN DO SIGNIFICANT HARM TO OUR BUSINESSES BUT ALSO WHAT WE HAVE SEEN FROM HOSPITALS, K-12 SCHOOL DISTRICTS. MOST OF WHAT I WORRY ABOUT OUR TARGET RICH CYBER POOR ENTITIES. SCHOOLS, WATER FACILITIES, HOSPITALS THAT DON'T HAVE THE RESOURCES TO BE ABLE TO RAISE THE BASELINE IN CYBER. WE ARE GOING TO SPEND THIS YEAR WORKING WITH THEM TO MAKE SURE THEY HAVE THE RESOURCES, EXPERTISE, TECHNICAL GUIDANCE TO DRIVE DOWN RISK.
IN A WORLD WHERE TECHNOLOGY IS CREATED SECURE BY DESIGN AND DEFAULT, WE WON'T HAVE TO WORRY SO MUCH ABOUT SMALL BUSINESSES THAT ARE GOING TO GET TAKEN OUT BECAUSE THEY ARE NOT PUTTING CYBERSECURITY PROCESS IN PLACE. CAROLINE: FASCINATING. I THINK IT'S ALL RIGHT TO SHINE A LIGHT ON THOSE THAT CAN ALWAYS INVEST IN CYBERSECURITY. AS WE ENTER A DOWNTURN, THAT MAYBE PEOPLE WOULD PULL BACK ON THAT SPENDING AND WHERE PEOPLE NEED TO INVEST THE MOST PARTICULARLY IF YOUR FINANCIAL SERVICES COMPANY. WHO WAS SHE SPEAKING TO? WHO IS HER AUDIENCE AT CES? ED: WHEN I ASKED HER ABOUT THE MOTIVATIONS, SHE TALKS ABOUT PROTECTING THE CONSUMER. THAT'S A CALL FOR THE PRIVATE SECTOR TO ACT TO MAKE SURE CYBERSECURITY IS AT MIND WHEN THEY ARE WORKING ON THEIR LATEST TECHNOLOGY.
I HEARD THAT THAT WAS A MESSAGE TO THE PRIVATE SECTOR. SHE IS A ROCK STAR IN THIS WORLD. WHAT I HEARD WAS PRIVATE SECTOR YOU NEED TO GET ON BOARD WITH THIS AND GET YOUR ACT TOGETHER AND THAT IS FORTUNATE BECAUSE WE CAN CONTINUE THIS CONVERSATION WITH CROWDSTRIKE CEO GEORGE KURTZ. DO YOU AGREE WITH THAT THAT HER MESSAGE WAS TO YOU? THAT YOU THE PRIVATE SECTOR ALSO THOSE OUTSIDE OF CYBERSECURITY NEED TO BE DOING A LOT MORE? GUEST: IT MIGHT BE MORE TO MICROSOFT, YOU WOULD HAVE TO ASK HER. AS AN INDUSTRY, WE HAVE TO HAVE SECURITY BUILT BY DESIGN AND WE ARE AT CB -- CES AND THERE ARE A LOT OF CONSUMER DEVICES THAT COME TO THE CONSUMER NOT SECURE OUT-OF-THE-BOX AND NOT LOOKED AFTER FOR THEIR LIFETIME.
THAT BECOMES PROBLEMATIC AND IT CREATES RISK IN THE ENVIRONMENT. ED: WHAT DID YOU MEAN BY MICROSOFT? GUEST: WHEN YOU LOOK AT THE TECHNOLOGIES IN PLAY AND THE EXPLOITS THAT HAVE HAPPENED THEY ARE ON MICROSOFT TECHNOLOGIES. PATCH TUESDAY IS HOW MANY VULNERABILITIES CAN WE PATCH? I WAS ON THE PANEL WITH HER TODAY. SHE WAS SAYING YOU CAN'T BLAME THE VICTIM. IN OTHER CRIMES, WE DON'T BLAME THE VICTIM. IN CYBERSECURITY IT'S LIKE HE DIDN'T PATCH IT.
HOW DID THE VULNERABILITY GET THERE IN THE FIRST PLACE? CREATING SECURE SOFTWARE BY DESIGN IS REALLY IMPORTANT. CAROLINE: LET'S TALK A LITTLE BIT ABOUT SAFETY AND WHERE THE THREATS ARE COMING FROM. FOR 2023, ARE WE SEEING ANYTHING NEW? GUEST: WHEN WE THINK ABOUT 2023 AND A CHALLENGING MACROENVIRONMENT, WHAT WE HAVE TO LOOK AT IS DURING THEIR SESSION AND I HAVE BEEN THROUGH MANY OF THEM, ADVERSARIES TEND TO GET MORE ACTIVE.
CYBERCRIME GOES UP BECAUSE WE HAVE SEEN IT, YOU REPORTED ON THE LAYOFFS IN TECH. WHEN PEOPLE ARE COMING AND GOING, THERE'S ALWAYS AN OPPORTUNITY TO ABUSE THE IDENTITY. WHEN PEOPLE AREN'T MINDING THE STORE, THERE'S OPPORTUNITY FOR BAD ACTORS. WE THINK IT'S EVEN MORE IMPORTANT THAT CYBERSECURITY IS FRONT AND CENTER FOR LARGE AND SMALL COMPANIES AND THE CONSUMER. ED: WHERE ARE THE THREATS COMING
FROM? I ASKED ABOUT THE WAR IN UKRAINE AND IF THERE'S A DIRECT CORRELATION WITH A DIRECT RAMP UP IN RANSOMWARE. SHE SAID IT'S NOT THE CASE. WE KEEP HEARING THAT THE THREAT IS THERE. WHERE THEY COMING FROM? GUEST: WE BREAK THEM INTO THREE DIFFERENT GROUPS. NATIONSTATE ACTORS, CRIME, AND HACKED IT IS A -- HACKTIVISM. THE NATIONSTATE ACTORS ARE
ALWAYS BEEN TO BE ACTORS -- THEY WILL ALWAYS BE ACTIVE. I ALWAYS THOUGHT THERE WOULD BE MORE AROUND THE UKRAINE CONFLICT BUT IT'S NOT LIKE RUSSIA FORGOT WHAT THEY ARE DOING. THEN YOU TURN TO E CRIME. IT'S A HUGE BUSINESS. IT'S REALLY RANSOMWARE AS A SERVICE. YOU DON'T NEED TO UNDERSTAND ANYTHING ABOUT TECHNOLOGY, YOU CAN BUY ACCESS FROM AN ACCESS BROKER.
RANSOMWARE FROM RANSOMWARE AS A SERVICE. THEY HAVE THEIR OWN BUSINESS MODEL. THEN AT THE END OF THE DAY, YOU EXECUTE YOUR CAMPAIGN AND YOU CAN MAKE A LOT OF MONEY WITHOUT A LOT OF RISK. CAROLINE:
ASIDE FROM ATTACKERS REVENUE STREAMS, TALK TO US ABOUT YOURS. AS PEOPLE WHILE BACK SPENDING -- DIAL BACK SPENDING, ARE YOU HIT BY THAT? ARE YOU FEELING THAT THE WORST IS OVER GOING INTO 2023? GUEST: MANY COMPANIES HAVE SEEN HEADWINDS LENGTHENING SALES CYCLES THAT SORT OF THINGS AS OTHER COMPANIES ENTERPRISE EVALUATE THEIR OWN BUDGETS. AT THE END OF THE DAY WHEN I THINK ABOUT SECURITY -- IT'S A RESILIENT INDUSTRY. THE HIERARCHY OF NEEDS IT'S LIKE SHELTER, YOU HAVE TO HAVE SECURITY WHETHER REGULATION OR BUSINESS RESILIENCY AND ONE OF THE THINGS THAT WE SPOKE ABOUT WAS THAT IT'S A BOARD ISSUE. THE BOARD IS LOOKING AT BUSINESS RESILIENCY NOT JUST THE ANNOYANCE OF A SINGLE COMPUTER BEING IMPACTED.
WE SEE COMPANIES GET TAKEN OFF THE MAP FOR WEEKS AND MONTHS BECAUSE THEY DIDN'T HAVE THE RESILIENCY IN THEIR CYBERSECURITY PROGRAM. ED: WE WILL HAVE YOU BACK WE HOPE AT SOME POINT AGAIN THIS YEAR. COMING UP, A CEO TALKS TO ME ABOUT THE FUTURE OF SELF-DRIVING. THIS IS BLOOMBERG. ED: MOBILEYE THE SELF-DRIVING STARTUP SAYS REVENUE WILL TOTAL MORE THAN $17 BILLION THROUGH 2030. EARLIER THE CEO AMNON SHASHUA TOLD ME ABOUT THEIR AMBITIOUS PLANS. GUEST:
WHAT WE ARE TELLING INVESTORS IS IF YOU LOOK AT THE PIPELINE GOING FORWARD, THE BOOKED BUSINESS PIPELINE IS SIGNIFICANTLY HIGHER THAN THE GUIDELINES IN 2022. THE DESIGN WINDS OF THIS YEAR ACCOUNT FOR $6.4 BILLION OF BOOK DISTANCE WHICH IS MORE THAN THE GUIDELINE -- THE GUIDANCE FOR 2022. IF YOU LOOK AT OUR WORTH GOING FORWARD, IT IS SIGNIFICANT ALSO IN OUR ASP. THE DOLLAR PER CAR THAT WE ARE RECEIVING IS DOUBLING AS WE GO FORWARD. THE $6.7 BILLION ACCOUNTS FOR
60 MILLION CHIPS. $100 ASP COMPARED TO $50. ED: WAS IT THE IDEA THAT YOU SPUN OFF FROM INTEL. AND THEY ALL GO I WANT TO DO BUSINESS WITH THEM? OR WAS THAT IN THE WORKS? GUEST: THIS ABILITY WILL PLAY A SIGNIFICANT ROLE AS WE GO FORWARD, BUT WE ARE ONLY THREE MONTHS AFTER THE IPO. IT'S NOT VISIBILITY THAT PLAYED A ROLE, IT IS THINGS THAT HAVE BEEN IN THE WORKS. WE LAUNCHED A SIGNIFICANT PRODUCT. CALLED SUPERVISION. ED: TELL ME WHAT THAT IS. IS IT FULL AUTONOMY OR DRIVER ASSISTANCE? GUEST: LEGALLY IT IS DRIVER ASSISTED TECHNOLOGY BUT IT IS REALLY FULL AUTONOMY. THE WAY IT WORKS TOGETHER, THE
WAY TO IMAGINE IT IS THE ULTIMATE EVOLUTION OF DRIVING ASSIST. NOW IMAGINE YOU HAVE 360 DEGREE AWARENESS, EIGHT MEGAPIXELS OR 11 CAMERAS 11 MEGAPIXELS AROUND THE CAR PROVIDING HUGE RESOLUTION OF DATA TO HIGH PERFORMANCE COMPUTING. YOU BUILD A FULL ENVIRONMENTAL MODEL DETAILED AND NOW YOU CAN DRIVE IT AUTONOMOUSLY. ED: IS THIS IN CARS TODAY. GUEST: 70,000 CARS IN CHINA ALREADY. WE HAVE THE BOOKED BUSINESS FOR NINE BRANDS LAUNCHING STARTING FROM THIS YEAR UP TO 2025. ED: DO YOU MEAN VEHICLES ROLLING
OFF THE PRODUCTION LINE 2023 THEN CARRY THIS TECHNOLOGY? GUEST: YES FROM THE DRIVER EXPERIENCE IT IS FULL AUTONOMY. FROM A LEGAL, IT NEEDS TO BE EYES ON. THERE COULD BE CASES -- ED: IS IT LIMITED TO CHINA? GUEST: NO, WE ARE LOBE -- ROLLING IT OUT GLOBALLY STARTING IN CHINA.
ED: HOW MUCH OF AN EFFECT IS SUPERVISION TO THE FORECAST? GUEST: IT ACCOUNTS FOR $3.5 BILLION. WE STARTED DEPLOYING IT ON THE SIX MONTHS AGO. DURING THAT SIX MONTHS, WE HAVE NINE BRANDS BOOKED BUSINESS. ED:
WHAT NAMES? GUEST: I CAN'T MENTION THE NAMES. ED: THIS IS THE FIRST TIME YOU HAVE SEEN ME SINCE 2020. GUEST: [LAUGHTER] CARMAKERS HAVE THEIR OWN AGENDA TO RELEASE. IT'S NOT CRITICAL WHO IT IS. WHAT IS CRITICAL IT'S MOBILE, IN THE U.S. AND CHINA IN EUROPE. WHAT IS IMPORTANT ABOUT SUPERVISION IT'S A BRIDGE TOWARD FULL AUTONOMY. WHAT WE CALL EYES OFF WHERE YOU CAN DISCONNECT FROM DRIVING BECAUSE IF YOU INVEST IN IT GOING FROM EYES OFF IS BECOMING INCREMENTAL ADDING ACTIVE SENSORS AND THAT'S IT. CAROLINE: HE WASN'T TAKING HER BAIT.
HE WASN'T GOING TO NAME NAMES. THAT'S THE REAL REASON HE IS AT A CONSUMER CONFERENCE. IT'S JUST WHAT'S IN YOUR CAR ALREADY. ED: TO CUT THROUGH THE JARGON, THEY MAKE CHIPS OR SYSTEM ON CHIPS THAT PROVIDE SOME KIND OF ADVANCED DRIVER ASSISTANCE BUT THEY SELL THEM DIRECTLY TO THE CARMAKERS OR AT LEAST TO THEIR TIER ONE SUPPLIERS. IT GOES BACK TO THE WHOLE THEME, THIS PRODUCT IS REAL AND THEY ARE RAMPING UP THEIR OUTPUT. IT'S THE DEPARTURE OF THE CES OF THE PAST WHERE ALL OF THIS STUFF IS CONCEPT RELATED OR IT'S SO DISTANT.
I FIND IT REFRESHING AND IF YOU WALK AROUND THE HALLS, THERE ARE LOTS OF NAMES THE CONSUMER WOULDN'T RECOGNIZE BUT THEY HAVE TANGIBLE PRODUCT. CAROLINE: AMD IS ONE OF THEM. I SUPPOSED TO ALL OF THIS, IT SPEAKS TO GETTING THEIR NAME OUT THERE RAMPING UP AND YESTERDAY IT'S ABOUT PRAGMATISM THIS YEAR. MAYBE A LITTLE BIT LIKE HOW THE MARKET IS FEELING. ED: PRAGMATISM AND PROFIT THAT'S
THE WAY. CAROLINE: MEANWHILE, A CHIEF ANALYST IS JOINING US FROM CES. THIS IS BLOOMBERG. ED: LET'S WRAP UP TODAY'S COVERAGE OF CES 2023 AND ALL OF THE UNVEILING'S WITH BOB O'DONNELL CHIEF AND ISLES -- CHIEF ANALYST AT TECHNALYSIS. GUEST: I CAME INTO THE SHOW CURIOUS TO SEE WHAT IT REALLY COME BACK? KIND OF. I LOOK AROUND THE MAIN FLOOR
AND IT'S PRETTY BUSY. SOME OF THE OTHER PLACES I HAVE BEEN IN THE VENETIAN WERE ACTUALLY BUSIER. BUT THE ENERGY IS THERE PRINTED THERE'S A LOT OF ENERGY AND WHAT WE ARE SEEING IN GENERAL -- A LOT OF THINGS ARE MORE PRACTICAL. THEY ARE FINISHING THE IDEAS
THAT WERE BROUGHT UP A COUPLE OF YEARS AGO. WE HAD A LOT OF VISIONS IN THE LATE TEENS EARLY 20'S AND NOW IT'S LIKE WE HAVE TO FINISH THESE THINGS. IT'S NOT AS EXCITING FROM A NEWS PERSPECTIVE, BUT IT'S PRACTICAL. CAROLINE: IT'S PRACTICAL AND PERHAPS PROFITABLE. WE WENT OUT TO OUR AUDIENCE TO SEE AND HEAR WHAT THEY THINK OF THIS YEAR AT CES. WHETHER THEY ARE BEING -- OUR RESULTS WERE YES THEY ARE CARING ABOUT WHAT'S GOING TO BE HAPPENING.
THEY'RE PAYING ATTENTION TO THE ANNOUNCEMENTS. UNFORTUNATELY, IT WAS PRETTY EVENLY SPLIT 34% SAY THEY DON'T FAKE IT'S GOING TO BE TOO BUSY AND THEY ARE WORRIED ABOUT THE ANNOUNCEMENTS. ONE THIRD OF THE PEOPLE SAID WHAT IS CES? FOR THOSE 28% WHO DON'T KNOW WHAT ARE DAYS OR WHY THEY SHOULD CARE, WHAT THIS YEAR SHOULD THEY BE LISTENING FOR? GUEST: TO ME, PART OF THE ISSUE IS AROUND AI BECOMING MAINSTREAM . WE ARE SEEING THAT IN A LOT OF INTERESTING WAYS. SMALL LEVELS, THINGS LIKE JOHN DEERE DID THE KEYNOTE THIS MORNING AND THEY ARE TRACTOR THE THINGS THAT THEY DO AND THERE AI. YOU MENTIONED AMD AND INTEL, THEY ARE INTEGRATING AI PROCESSING.
THINGS LIKE CHAT GPT HAVE OPEN PEOPLES EYES TO WHAT AI CAN DO. SUDDENLY I THINK THERE'S A LOT MORE RECOGNITION THAT THIS THEORETICAL THING WE'VE BEEN TALKING ABOUT IS NOW VERY REAL AND IT'S GOING TO HAVE AN IMPACT. WE SEE IT PLAYING OUT AND OTHER SMALL WAYS LIKE MAKING THINGS EASIER TO USE AND ADAPTING TO HOW WE USE THEM. CAROLINE: TALK TO US ABOUT EFFICIENCIES. INTEROPERABILITY AS WELL. FOR MANY, THEY HAVE HOUSEHOLD GADGETS BUT NONE OF THEM TALK TO EACH OTHER. THIS IS SOMETHING PEOPLE ARE
TACKLING NOW WITH AI ALSO. GUEST: ONE OF THE BIG STORIES OUT OF THE SHOW IS AROUND THE MATTER STANDARD. IT'S A TECHNICAL STANDARD, WAFER DEVICES TO COMMUNICATE WITH EACH OTHER IN A SMART HOME. WHY IT'S IMPORTANT IS IT ALLOWS THINGS FROM AMAZON AND APPLE AND GOOGLE TO ALL START TO WORK TOGETHER. IN THE PAST, THEY WERE ALL COMPLETELY SEPARATE ECOSYSTEMS. NOW YOU CAN GET ALL THE DEVICES WORKING TOGETHER.
THAT'S NEW AND DIFFERENT. ED: THERE ARE BANKERS, INVESTORS, ANALYSTS. YOU CAN'T GET AWAY FROM THE HEADLINES. OUR PEOPLE TALKING ABOUT AMAZON LAYOFFS? GUEST: YES, I TALKED TO THE AMAZON DEVICES GROUP JUST BEFORE I CAME HERE. THEY SAID WE ARE VERY MUCH COMMITTED BECAUSE THEY BEEN DRIVING A LOT ESPECIALLY WITH ALEXA, A LOT OF THE RUMORS HAVE BEEN ABOUT THAT DEVICES GROUP. THEY SAID THE DEVICES GROUP IS NOT GOING AWAY.
YES, WE ARE ASKED TO REFINE THINGS AND FOCUS ON WHAT MATTERS. BUT THEY ALSO HAVE ANNOUNCEMENTS AROUND SIDEWALK WHICH IS ANOTHER SMART HOME TECHNOLOGY CAPABILITY. ALL OF WHICH ARE DESIGNED TO ULTIMATELY ALLOW PEOPLE TO USE THE SMART HOME DEVICES IN A WAY THAT IS MORE INTUITIVE. ED: ONE PRODUCT YOU'RE ARE LOOKING OUT FOR? GUEST: I AM MOST CURIOUS TO SEE THE PC CHIPS FROM AMD AND INTEL. CAROLINE: GREAT TO HAVE YOUR VOICE BACK ON. BOB O'DONNELL AT TECHNALYSIS. LET HIM GET HIS STEPS IN AS HE
MARCHES THROUGH THE BEST QUALITY -- QUANTITY OF EXHIBITIONS. STICK WITH ED. HE IS STILL ON SOCIAL MEDIA AND AT CES IN LAS VEGAS. DON'T FORGET TO CHECK OUT OUR PODCAST. FROM NEW YORK FROM LAS
VEGAS, THIS IS BLOOMBERG.
2023-01-06 11:27
