Arm-Qualcomm Feud Escalates
>> FROM THE HEART OF WHERE INNOVATION, MONEY AND POWER COLLIDE IN SILICON VALLEY IN BEYOND. THIS IS BLOOMBERG TECHNOLOGY WITH CAROLINE HYDE AND ED LUDLOW. ED: LIVE FROM SAN FRANCISCO THIS IS BLOOMBERG TECHNOLOGY.
COMING UP THE LATEST ON ARM AND QUALCOMM AFTER KEY TECH LICENSE DEAL IS CANCELED AND WHY SOME ANALYSTS PREDICT A TOUGH ROAD AHEAD FOR TESLA AHEAD OF ITS EARNINGS REPORT. WE ARE LIVE AT B 20 IN SAO PAULO WHERE THE CONVERSATION WITH GOOGLE RESULTS PRESIDENT. LET'S GET TO OUR TOP STORY. SHARES OF CHIPMAKER QUALCOMM AND A CHIP DESIGN FIRM ARE BOTH LOWER THIS MORNING. ARM CANCELED A LICENSE ISSUED TO HIS LONGTIME PARTNER QUALCOMM POTENTIAL HE LEAVING THE LEADER IN ANDROID SMARTPHONE PROCESSORS WITHOUT KEY INTELLECTUAL PROPERTY. THE SHOWDOWN COULD HIT THE FINANCES OF BOTH COMPANIES AHEAD OF A BREACH OF CONTRACT TRIAL IN DECEMBER. THAT DISPUTE CENTERS AROUND ACQUISITION QUALCOMM MADE OF ANOTHER CHIP FIRM THAT WAS ALREADY LICENSING ARM DESIGNS AND THOSE BLUEPRINTS PASSING ONTO QUALCOMM. BLOOMBERG INTELLIGENT SENIOR
CHIP ANALYST HAS PUBLISHED HIS RESEARCH WITH COLLEAGUES IN RESPONSE TO THAT LICENSE CANCELLATION. IN JOINS US ON SET IN SAN FRANCISCO PREYED LET'S START YOUR -- WITH YOUR REACTION. INVESTORS DO NOT LIKE IT CLEARLY. THE TIMING IS A SURPRISE PREYED WHAT DO YOU MAKE OF IT. >> THE TIMING OF THE NOTICE FOR THE DECEMBER 16 FILE THIS DOESN'T SEEM LIKE A COINCIDENCE TO US. THIS SEEMS AS A PRESSURE TACTIC FOR ARMAND QUALCOMM TO BRING THIS TO A SETTLEMENT BEFORE IT BEGINS.
ED: HISTORICALLY QUALCOMM IS USED ON DESIGNS -- ARM DESIGNS FOR ITS CHIPS UNTIL THIS WEEK WHEN IT ANNOUNCED ITS LATEST GENERATION PROCESSORS WHICH RELATE TO THE ACQUISITION. I SPOKE TO THE CEO YESTERDAY PRIOR TO THIS NEWS COMING OUT. LET'S JUST VERY QUICKLY LISTEN TO WHAT HE SAID ABOUT THE COMPANY'S TECHNOLOGY STRATEGY.
>> WE WENT FROM PHONES TO CARS TO THE PCS AND NOW INDUSTRIALS. THAT HAS BEEN PART OF OUR STRATEGY. WE DID ALL ORGANICALLY WITH SOME OF THE ACQUISITIONS.
WE FEEL WE HAVE A VERY COMPETITIVE IMPACT AND WE ARE THINKING ABOUT THE NEW INNOVATION THAT IS COMING FOR THOSE MARKETS. >> THE ACQUISITION HE'S REFERENCING WAS NEW VIA. EXPLAIN THE BASICS OF THAT DEAL AND THE TIMING OF THIS PIECE OF NEWS IS SO SIGNIFICANT.
>> THE DESIGN BASED ON ARM ARCHITECTURE AND THEY HAD A LICENSE. WHEN QUALCOMM ACQUIRED NEW VIA, THE ISSUED WHERE THE LICENSE WAS AT A MUCH LOWER RATE THAN WHAT IT HAD WITH QUALCOMM. THEY DID REDIRECT AND BUILD ON TOP OF THE ARCHITECTURE WAS THERE CALLING THEIR OWN DESIGNS. THE ISSUE HERE IS THE LICENSE BASED ON WHICH THE ORION SHIPS WERE BUILT ON WENT TO THE MUCH LOWER RATE AND ARE MR. MANNING A HIGHER RATE COMPARABLE TO WHAT QUALCOMM IS PAYING ON ITS ARM-BASED DESIGNS.
>> THIS IS A COMPLICATED STORY AND IT'S -- THIS IS WHAT QUALCOMM HAD TO STAY -- SAY IN TERMS OF THE BLOOMBERG REPORTING. THIS IS MORE OF THE SAME FROM ARM, MORE UNFOUNDED THREATS DESIGNED TO STRONG ARM A LONG TERM PARTNER INTO A PERFORMANCE SEE -- CPUS REGARDLESS OF THE BROAD RIGHTS UNDER OUR POTENTIAL LICENSE. I THINK THE MAIN POINT IS WE ARE HEADED TO TRIAL IN DECEMBER ON THE ROYALTY RATES PIECE, HOW DO YOU SEE THIS PLAYING OUT. ARM DOES NOT WANT TO LOSE MONEY WITH QUALCOMM GOING WITH DIFFERENT DESIGNS. QUALCOMM IS THE MOST IMPORTANT SMARTPHONE PROCESSOR MAKER WHEN IT COMES TO THE ANDROID PLATFORM. THERE IS QUITE A LOT AT STAKE HERE.
>> DEFINITELY FOR ARM, QUALCOMM ITS CUSTOMERS AROUND 320 MILLION IN REVENUES. IT DOES NOT DEFINITELY WANT THE NUMBER ONE CUSTOMER TO GO AWAY. WE DON'T THINK A LITIGATION BLOCKING QUALCOMM'S ABILITY TO SHIP CHIPS BASED ON THE ARM AGREEMENT IS MORE LIKELY BECAUSE IT DOES NOT IMPACT QUALCOMM BUT AFFECTS THEIR ENTIRE INDUSTRY. IMAGINE THE SCENARIO WHERE THEY CANNOT GET QUALCOMM CHIPS WHICH THEY ARE GETTING READY FOR THE NEXT GENERATION OF AI SMARTPHONES. ED: I SHOULD ADD THAT ARM DECLINED TO COMMENT. LATER IN THE SHOW WILL GO DEEPER ON THE BLOOMBERG REPORTING ON THE STORY. LET'S TALK ABOUT MARKETS AND
THE INVESTOR ATTITUDE TOWARD THE CHIP SECTOR. FOR SOFTWARE SERVICES AND ENTERPRISE TECH AT CLEAR RIDGE JOINS US. IT IS SO INTERESTING BECAUSE IS A LOT OF NOISE IN SINGLE NAME SPECIFIC NOISE BUT THOSE HEADWINDS ARE OFFSET BY MASSIVE TAILWIND FOR THE CHIP SECTOR LARGELY RELATED TO THE ENTERPRISE INVESTMENT IN AI INFRASTRUCTURE. >> I AGREE 100%. >> PLEASE CONTINUE. >> WE ARE SEEING GROWING DEMAND INDICATIONS DEMAND FOR CLOUD MIGRATIONS, THE MAN FOR AI. THERE'S A LOT OF DEBATE AROUND
IT. THERE'S MORE ACTIVITY NOW THAN THERE WAS SIX MONTHS AGO. THERE'S MORE LIKELY TO GO INTO PRODUCTION IN THE FIRST HALF OF THE YEAR THEN SECOND HALF OF THIS YEAR SO THOSE ARE REALLY STARTING TO MOVE. >> WHERE I WOULD LIKE TO TALK TO YOU IS THIS DEBATE ABOUT HOW WE AS CONSUMERS WILL USE AI. TWO QUALCOMM'S MIND THAT'S THEIR ENTIRE BUSINESS RIGHT. BUT THEY SEE A WORLD WHERE
WITHIN FIVE YEARS ALL OF US HAVING AN AI SMARTPHONE WHEN WE LOOK AT THE MARKETS AND YOU LOOK AT THE NAMES ACROSS THE TECHNOLOGY SECTOR IS THAT A PART OF YOUR THESIS AND YOUR INVESTMENT APPROACH, THE IDEA WE ARE ON DEVICE SOONER RATHER THAN LATER. >> I THINK THE REQUIREMENTS FOR EFFICIENCY IN PROCESSING GENAI WILL REQUIRE THAT PROCESSING OCCURRED EVERYWHERE INCLUDING ON THE DEVICE. THERE IS CLEARLY GOOD TO BE A TREMENDOUS AMOUNT OF CENTRALIZED PROCESSING AT THE HYPER SCALARS THEMSELVES AND ANCILLARY CLOUDS WITH LARGER AND SMALLER MODELS AND THEIR SKIN TO BE A DIVERSITY WITHIN THE ECOSYSTEM THAT ABSOLUTELY THE DEVICE IS PART OF THE THESIS. ED: THERE ARE INTERESTING PARTS OF THE ENTERPRISE SOFTWARE SPACE AS WELL WHERE EVERYONE IS STICKING THE LETTERS A AND I IN FRONT OF EXISTING PRODUCTS. ARE YOU ABLE TO DISCERN WHAT IS TANGIBLY GOOD, NEW, IMPRESSIVE AND WHAT IS JUST MARKETING. >> THERE IS A TREMENDOUS AMOUNT OF MARKETING SPEAK, HOPES, DREAMS AND PROMISES. AT THE END OF THE DAY WHAT IS
INTERESTING ABOUT THE CYCLE VERSUS PRIOR CYCLES FIRST AND FOREMOST IS HOW QUICKLY INCUMBENTS HAVE MOVED TO EMBRACE GENAI KEY INCUMBENTS HAVE PIVOTED THEIR ORGANIZATIONS AROUND AI. SEEMINGLY OVERNIGHT. EVEN LONGER FOR MICROSOFT. THERE'S A TREMENDOUS AMOUNT OF ACTIVITY INCUMBENTS.
THERE'S A LOT OF INVESTOR FOCUS ON THE DISINTERMEDIATION OF INCUMBENTS. NOT JUST THE DATA AND THE WORKFLOWS. NOT JUST THAT WHOLE END OF IT.
IT'S NOT JUST ABOUT BUILDING A BOT OR AN APP OR AN INTERFACE, IT IS ABOUT THE COMPLEXITY OF THE BACK END. THE ENTIRE IDENTITIES THAT GO ALONG WITH IT WHICH IS VERY HARD TO DO. THAT'S THE KEY OF PART OF WHAT I'M LOOKING FOR. WHO CAN HANDLE THE ENTIRETY OF THE COMPLEXITY OF WHAT LOOKS VERY SIMPLE ON THE FRONT-END OF AN AGENT. AND HOW THEY WILL SUCCEED IN THAT AND WE ARE GAUGING THAT PROCESS AS WE GO. BUT SO FAR THE EARLY
INDICATIONS ARE FAIRLY CONSTANT. >> LET'S END THE CONVERSATION BY GOING WITH WHAT HAPPENS NEXT ACROSS THE FIELD OF SOFTWARE ENTERPRISE AND THE HARDWARE NAMES YOU COVER. HOW PRIMED ARE WE FOR MORE M & A AND MORE CONSOLIDATION. >> IT LOOKS AS THOUGH WE ARE PRIMED FOR MORE ON THE CONSOLIDATION GOING FORWARD. MOST EARLY FOR A VARIETY OF REASONS. THE ELECTIONS HAVE BEEN PART OF THAT.
INCLUDING WHOLESALE FOCUS ON GENAI BY CORPORATIONS BUT GOING FORWARD THERE'S BETTER SPENDING WE ARE GOING TO SEE BOTH POTENTIAL NEW CANDIDATES LOOK LIKELY TO PERMIT MORE IN THE WAY OF M & A. THEY ARE SEEING MORE PRIVATE EQUITY ACTIVITY AND YOU ARE SEEING THE LOW-END VALUATIONS OF THE IBMS COMING UP PROVIDING A FLOOR. I THINK ALL OF THAT AND HOPEFULLY DECLINING INTEREST RATES WILL PRECIPITATE ON THE ENEMY ENVIRONMENT. ED: THANK. COMING UP ON THIS SHOW, TESLA SET TO ANNOUNCE EARNINGS IN A FEW HOURS TIME.
WE WILL PREVIEW WHAT TO EXPECT NEXT. THIS IS BLOOMBERG TECHNOLOGY. ♪ >> APPLE CEO TIM COOK MAKES A VISIT TO BEIJING MEETING WITH CHINA'S TECH CZAR WITH A PROMISE TO KEEP INVESTING IN THE COUNTRY PAID BLOOMBERG'S CHIEF CORRESPONDENT FOR APPLE AND CONSUMER MARK GURMAN WITH US. WE TALKED SO MUCH ABOUT THE SUPPLY CHAIN IN CHINA AND CHINA IN MARKET.
HE GOES IN PERSON AT THE VERY PUBLIC MEETING FOR IT WHAT WE KNOW. >> AROUND THIS TIME EXECUTIVES MAKE IT A TREK DOWN TO ASIA, THE HEAD OF MARKETING IN SOUTHEAST ASIA TIM COOK -- THEY ARE NOW IN MAINLAND CHINA. TYPICALLY GOES TO CHINA TWO TO FOUR TIMES A YEAR.
HE WAS THERE QUITE OFTEN. THEY NEED TO MEET WITH THEIR PROVIDERS. HE HAD A MEETING WITH THEM. CONTINUED COOPERATION WITH THE I.T. MINISTER OF CHINA.
WE ARE NO LONGER COULD COOPERATE IN THE SECOND THIRD BIGGEST MARKET. THIS IS HOW THINGS GO AS BIG AS APPLE. AND GOVERNMENT REGULATORS AND THE COUNTRIES YOU WORK WITH AND WORK IN. AND THE MEETINGS ARE PART OF THAT. TO HAVE SUCH A FREEDOM IN CHINA, THEY HAVE AROUND 40 RETAIL STORES THERE FOR THE MOST PART ALMOST ALL THEIR SERVICES OPERATE THERE. SOME NUANCES REGARDING CLOUD STORAGE. APPLE INTELLIGENCE IS NOT
AVAILABLE YET. THESE ARE THINGS THAT WANT TO CONTINUE TO WORK ON AND MEETING WITH THE GOVERNMENT THIS IMPORTANT. NOT TO MENTION NECESSARY MEETINGS OBVIOUSLY RUNNING SUPPLY CHAIN PARTNERS. >> APPLE SHARES DOWN A PERCENTAGE POINT, APPLE SCALING BACK PRODUCTION OF THE VISION PRO. WHAT WE KNOW ABOUT THAT AND WHAT DO YOU MAKE OF IT.
>> I THINK IT'S A BIT OF A MISNOMER. IT'S NOT THAT THEY'RE SCALING BACK PRODUCTION OF THE VISION PRO BECAUSE THEY ARE PLANNING ON CANCELING OR GETTING RID OF IT, BEFORE APPLE RELEASES THE NEW VERSIONS OF PRODUCTS THAT NEED TO SCALE BACK THE CURRENT PRODUCTION AND THE GOAL IS TO HAVE ENOUGH UNITS TO FULFILL DEMAND AND FILL THE CHANNELS UNTIL THE NEW ONES ARE READY. THERE IS A NEW VERSION OF THE VISION PRO COMING OUT IN EARLY 2026. THE FASTER PROCESSOR AND A FOCUS ON ARTIFICIAL INTELLIGENCE. AT THE END OF 2025 THEY WILL UNVEIL A CHEAPER FOLLOW-UP THE VISION PRO PRODUCE THE SPECIFICATIONS AND GET THE PRICE POINT DOWN AND SO YOU NEED TO SCALE BACK PRODUCTION AHEAD OF TIME SO YOU DON'T HAVE THOSE NEW MODELS COME OUT. THE INTERESTING PART HERE IS APPLE BELIEVES IT CAN TAKE A YEAR FOR THEM TO RUN OUT OF EXISTING SUPPLY OF THE VISION PRO. WHICH MAKES SENSE GIVEN THE PACE OF THIS THING.
I CEVA KNOWN INDICATION OF THE VISION PRO LINE. WHAT I'M SEEING IS INCREASED HIRING FOR THE VISION PRO. INCREASED INVESTMENT AND INCREASED OPTIMISM ABOUT THE FUTURE OF THE PRODUCT NOW THAT THEY'RE SORT OF GETTING ANNUAL ROADMAPS TOGETHER. DIFFERENT DEVICES IN THAT
FAMILY. ED: THANK YOU VERY MUCH. ANOTHER THING WE ARE TRACKING IS TESLA EARNINGS AFTER THE CLOSING BELL TODAY. WHAT DO YOU EXPECT. WHO LEADS A GLOBAL COVERAGE. THIS IS IMPORTANT PRINT AND AN IMPORTANT POOL.
THERE'S A LONG LIST OF INVESTORS -- THINGS THAT TESLA FANS AND OWNERS WILL WANT TO KNOW ABOUT. >> DELIVERIES WISE WE KNOW THEY WERE UP A LITTLE BIT FOR THE QUARTER. THE QUESTION WILL BE HOW THEY PULL THAT OFF. TO WHAT EXTENT WERE THE ABLE TO KEEP PRICING FIRM. THE EXPECTATION GENERALLY IS
THAT EARNINGS MAY ACTUALLY DIP A BIT IN TERMS OF BECAUSE OF THE FACT THIS IS A COMPANY THAT IS STILL HIGHLY RELIANT ON THE MODEL 3 AND MODEL Y AND THOSE PRODUCTS ARE A BIT TIRED AND IN NEED OF SOME UPGRADES. WE DIDN'T REALLY SEE THE MODEL Y -- THE MODEL 3 REFRESH REALLY MOVE THE NEEDLE. I WOULD BE INTERESTED IN WHETHER HE HASN'T THING TO SAY ABOUT A MODEL Y REFRESH GREAT HE'S RULED OUT ANYTHING COMING BEFORE THE END OF THIS YEAR. BUT THAT I THINK IS SOMETHING EVERYONE EXPECTED BEING A PART OF THESE MORE AFFORDABLE MODELS THAT THE COMPANY HAS TEASED COMING IN. ED: IT, SO QUICKLY AFTER THE THEY LEFT A LOT OUT THERE.
INVESTORS WANT TO KNOW ABOUT A RIDE-HAILING APP. DO YOU THINK MUSK WILL TALK ABOUT THAT ON THE CALL? >> IT FEELS TO ME LIKE SOME OF THE TIMELINES THAT ELON MUSK PUT OUT THERE THE EVENT WERE GOOD WAYS OFF. WE KNOW AS HE HIMSELF ACKNOWLEDGES HE TENDS TO BE OPTIMISTIC ABOUT THE TIMELINES. THAT FEELS LIKE A BUSINESS THAT
WERE NOT SEEING ANYTIME SOON MAY BE PREMATURE TO GET TO THE CALL. MAKE ANOTHER SORT OF TOPIC THAT I WOULDN'T BE SURPRISED IF IT DIDN'T COME UP WITH SOME DISCUSSION OF HIS INVOLVEMENT IN POLITICS AND THE COMPANY TO ITS CREDIT SOLICITS RETAIL INVESTOR QUESTIONS. I WOULD BE SHOCKED IF THEY DIDN'T HAVE SOMETHING COME UP ALONG THOSE LINES. >> TESLA IS STILL IN THE BUSINESS OF SELLING ELECTRIC VEHICLES TO CONSUMERS, WHAT DOES THE ENVIRONMENT AND OTHER REPORTS OF EARNINGS TELL US ABOUT HOW THAT IS GOING AROUND THE WORLD. >> I THINK SO MANY MANUFACTURERS ARE REALLY PIVOTING TO HYBRIDS. AND PLUG-IN HYBRIDS, A EXTENDED ELECTRIC VEHICLES, TESLA WENT OUT OF ITS WAY A COUPLE QUARTERS AGO TO HIGHLIGHT THAT FACT AND SAY IT WAS THEIR BELIEF IT'S THE WRONG STRATEGY. YOU HAVE TO LOOK AT WHAT HAS
HAPPENED ON SOME OF THE BIGGEST COMPETITORS. WE'VE SEEN MUCH MORE ROBUST DEMAND FOR HYBRIDS WHETHER THEY PLUG IN OR NOT. TOYOTA FOR INSTANCE LIGHTING THE WORLD ON FIRE WITH ITS HYBRIDS. TESLA I THINK IS STRUGGLING THE BROADER TRENDS.
FOR BATTERY ELECTRIC VEHICLE DEMAND. ED: CRAIG TRUDELL IN LONDON, THANK YOU SO MUCH. COMING UP, ASTANA RELEASED ITS LATEST -- WORKFLOW TOOLS. THIS IS BLOOMBERG TECHNOLOGY.
ED: A SAUNA WRAPPED -- ASANA ANNOUNCED NEW AI FEATURES FOR THINGS LIKE WORKFORCE ORCHESTRATION. THEY'RE ALSO ABLE TO EMBED THE NEW FEATURES WITHOUT USING CODE. HERE WITH MORE IS THERE HEAD OF AI. THERE SUCH PRESSURE TO SHIP NEW-PRODUCT'S ALMOST ON A WEEKLY CADENCE.
A BIG WEEK FOR YOU. LET'S START WITH THE WITHOUT CODE BIT. PAIGE: LEADERS AND TEAM LEADS KNOW THAT THE MOST IMPORTANT WORK IS ACROSS TEAMS AND THEY NEED TO BE EMPOWERED TO SET UP AI TO WORK IN THEIR EXISTING WORKFLOWS ACROSS THEIR EXISTING WORK TOOLS PRINT NO ONE WANTS MORE PLACES TO WORK, NO ONE WANTS TO REMEMBER WHEN TO ENGAGE WITH AI OR NOT. THIS ENABLES PEOPLE TO SET UP
AI DIRECTLY WHERE THEY ARE ALREADY WORKING. CAROLINE: WHETHER TO ENGAGE OR NOT, HOW TO ENGAGE. DO YOU HAVE ANY EARLY CASE STUDIES OR EXAMPLES OF HOW CUSTOMERS ARE USING IT AND WHETHER OR NOT THEY ARE BENEFITING IN THE EASY TO UNDERSTAND WAY? PAIGE: ONE OF THE CUSTOMERS IN THE DEBATE THAT IS NOW AVAILABLE TODAY WAS A MULTINATIONAL ADVERTISER. THEY USE AI WORKFLOWS TO EFFECTIVELY EMPOWER THEIR CREATIVE PRODUCTION TEAMS AND SO WHEN SALES WOULD SEND REQUEST TO CREATIVE TEAMS PICTURE 2500 REQUESTS A MONTH. THESE REQUESTS WERE BEFORE AND AFTER SAVED 60% OF MANUAL TIME AND 15 HOURS REQUEST. AND THAT'S PART OF THE SMART WORKFLOWS.
>> IN ANY COMPANY THERE IS A ROLE THAT AI AGENTS CAN PLAY. IF YOU WORK IN ANY TECH COMPANY YOU HAVE IN-HOUSE SOFTWARE WHERE THERE WOULD BE A VERY CLEAR AND USEFUL USE CASE. LOADS OF PEOPLE WANT TO SHOW THEY DON'T KNOW WHAT AN AI AGENT IS. WOULD YOU DEFINE IT FOR US?
PAIGE: IT IS EFFECTIVELY USING GENERATIVE AI OR LLM MODELS TO MAKE A CHOICE EFFECTIVELY, TOOL USE AND REASONING ABOUT THE PROPER NEXT STEPS ARE. IMPORTANTLY, ENTERPRISE ORGANIZATIONS CARE ABOUT ACCURACY, RELIABILITY AND AUDITABILITY, THAT'S WHERE THE SOLUTION IS UNIQUE BECAUSE IT SITS ON TOP OF THE EXISTING SCAFFOLDING OF WORK STRUCTURE. WHICH IS ALL ABOUT TRANSPARENCY AROUND WHO IS DOING WHAT. WHICH IS WHAT YOU CARE ABOUT WHEN AI IS DOING WORK AS WELL. ED: THE CEO OF SALESFORCE, WHICH IS A LARGE ENTERPRISE, HAS BEEN TALKING A LOT ABOUT WHAT AN AI AGENT IS OR IS NOT PARTICULARLY IN HIS CRITIQUE OF MICROSOFT COPILOT. BUT THERE IS CLEARLY ATTENTION ON IT AND WHY IS IT IMPORTANT PEOPLE START TO UNDERSTAND AND THINK ABOUT WHETHER THE USE OR NEED AN AI AGENT AT ALL. PAIGE:
I THINK THE BIGGEST UNLOCK IS WHAT -- WHERE IT IS ABLE TO HAVE CREATIVITY. AND WHAT IS IMPORTANT IS ORGANIZATIONS DECIDE THE LANGUAGE THEY'RE WILLING TO GIVE AI. WHAT IS IMPORTANT IS DELEGATING SLICES OF WORK TO AI AND HAVING A PERSPECTIVE ABOUT WHAT YOU WANT IT TO DO AND WHAT YOU DO NOT WANT IT TO DO. ULTIMATELY PEOPLE ARE ACCOUNTABLE FOR WORK, THE DECISIONS AND THE RESULTS. WHEN YOU DEPLOY AN AI AGENT YOU WANT TO KNOW WHAT IT DID AND WHY AND YOU WANT THE ABILITY TO UNDO IT. ED: WHY IS ASANA GOOD AT AI AGENTS.
PAIGE: ASANA WORKS ACROSS APPS THE TEAMS USED TODAY. WHAT'S UNIQUE ABOUT THE AI AGENTS THAT ASANA DEPLOYS FOR OUR CUSTOMERS AS THEY ARE HIGHLY CUSTOMIZABLE. THEY ARE RIGHT IN THE CONTEXT OF APPS AND THEY ARE EXACTLY TAILORED TO YOUR TEAM SO THAT NO ONE NEEDS TO MAKE A CHOICE ABOUT WHAT TO USE AND WHEN.
IT ENGAGES PROACTIVELY ON YOUR BEHALF TO REDUCE BUSYWORK AND HELP EXECUTE SOME OF THE WORK RIGHT IN CONTEXT. ED: PAIGE COSTELLO, THANK YOU FOR BEING HERE BACK ON BLOOMBERG TECHNOLOGY. COMING UP WE WILL GO BACK TO OUR TOP STORY AND HAVE MORE ON THE FALLOUT FROM ARM'S DECISION TO SCRAP A MAJOR LICENSING DEAL WITH QUALCOMM. WE WILL SPEAK TO TOM GILES COMING UP NEXT. THIS IS BLOOMBERG TECHNOLOGY. ♪
ED: WELCOME BACK. THE TECHNOLOGY STORY IN FINANCIAL MARKETS IS TEXT DRAGGING US DOWN AT THE INDEX LEVEL. THE NASDAQ 100 CUTTING DOWN A PERCENTAGE POINT SOME OF THE CHIP NAMES THAT ARE MOST PRONOUNCED OF THE DECLINES BUT OTHERS ARE ALSO LOWER AHEAD OF EARNINGS. TESLA AFTER THE BELL THE STOCK IS DOWN A 10TH OF 1%.
LET'S GET RIGHT TO IT. QUALCOMM THE CHIPMAKER AND ARM THE CHIP DESIGN FIRM ARE BOTH PARK AND. BLOOMBERG REPORTING THAT ARM HAS CANCELED A LICENSE ISSUED TO QUALCOMM WITH KEY INTELLECTUAL PROPERTY FOR SMARTPHONE PROCESSOR DESIGNS. IT'S AN ESCALATION OF A EXISTING DISPUTE WHICH IS HEADED FOR A TRIAL IN DECEMBER. BUCKING THE TREND IN THAT SPACE REALLY QUICKLY IS TSMC HURRIED OVERNIGHT WE GOT NEWS TSMC HAS CUT LOOSE A CLIENT IT FOUND OUT WAS FUNNELING CHIPS TO HUAWEI WHICH IS A CHINESE COMPANY SUBJECT TO SANCTIONS. LET'S BRING IN BLOOMBERG SENIOR EXECUTIVE EDITOR TOM GILES OUT OF LONDON THIS WEEK.
THE QUALCOMM ARM STORY THE TIMING IS ASTONISHING FRANKLY. CRISTIANO WAS ON THE SHOW LESS THAN 24 HOURS AGO. AS FAR AS YOU CAN EXPLAIN THE BASIS OF WHAT WE REPORTED OVERNIGHT. THAT'S A GOOD PLACE TO START >> THERE IS A DISPUTE BETWEEN THESE TWO COMPANIES. QUALCOMM OF THE BIGGEST CHIPMAKERS WHEN IT COMES TO MOBILE PHONES, ARM IS THIS U.K. BASED COMPANY THAT HAS -- OWNS
THE DESIGNS FOR THE CHIPS. IF YOU CANNOT USE THE DESIGN YOU CANNOT MAKE THE CHIPS. IF YOU DON'T HAVE BASICALLY IF THEY DECIDE TO PULL THE DESIGN AWAY FROM IT, THE LICENSE TO USE THE DESIGN.
QUALCOMM IS GOING TO BE INHIBITED FROM MAKING A BIG SWATH OF THE CHIPS IT NEEDS TO MAKE THOSE MOBILE PHONES. THIS IS A LEGAL DISPUTE BETWEEN THE TWO OVER AN ACQUISITION. IT'S GOING TO TRIAL AND THIS RATCHETS UP PRESSURE. IT DOES NOT MEAN THEY WILL ABSOLUTELY PULL THOSE LICENSES THEY HAVE 60 DAYS TO RESOLVE IT BUT ON THE PEOPLE OF THIS TRIAL. THIS IS AN INSTANCE OF ARM RATCHETING UP THE PRESSURE AND SAYING WE NEED TO TAKE THESE ALLEGATIONS OF INTELLECTUAL PROPERTY INFRINGEMENT SERIOUSLY. ED: SOME OF THE ANALYST TO USE WORDS LIKE LEVERAGE AND WE WILL SPEAK TO ONE OF THEM IN A MOMENT. YOU LEAD THE TEAM.
THIS BROKE LAST NIGHT AFTER A FEW DAYS WHERE BOTH NAMES WERE IN THE NEWS. WHAT ELSE CAN YOU TELL ME ABOUT OUR REPORTING AND THE KIND OF TIMELINE NOW RUNNING UP TO THE TRIAL IN DECEMBER. TOM: THIS COMES AT A TIME WHEN THERE IS TREMENDOUS INTEREST IN THE CHIP SECTOR AS YOU KNOW. IT IS AGAINST THE BACKDROP OF
ESCALATING U.S. CHINA TENSION, CONCERNS ABOUT WHO IS -- WHERE THESE CHIPS ARE ENDING UP. MAKING SURE THE U.S. HAS CONTROL OVER THE SUPPLY CHAIN. YOU HAVE AT THE SAME TIME THESE CHIP STOCKS RALLYING GOING THROUGH THE ROOF BECAUSE THE EXPECTATIONS WERE DEMAND FOR ARTIFICIAL INTELLIGENCE YOU MENTIONED IN THE INTRODUCTION THE TSMC IS BUCKING THE TREND. THEY ARE A COMPANY THAT IS BENEFITING FROM THE AI BOOM. ALL OF THESE THINGS ARE COMING,
THIS IS THE BACKDROP PAID FOR QUALCOMM IN PARTICULAR REMEMBER THEY ARE THE MAIN MAKER OF MOBILE CHIPS, APPLE IS A BIG CUSTOMER AND THERE'S QUESTIONS ABOUT DEMAND FOR THE IPHONE 16. HOW ROBUST IS THAT DEMAND AND WILL IT HURT QUALCOMM. THEIR DEAFENING QUESTIONS ON WHETHER THE IPHONE 16 IS A GAME CHANGER OF A PHONE. ALL THESE THINGS HAPPENING IN THE BACKGROUND, ADD TO THAT TENSION BETWEEN ARM AND QUALCOMM. ONE OF ITS BIGGEST CUSTOMERS
AND IT'S A RECIPE FOR A BIT OF TURMOIL IN THE CHIP MARKET. DON'T FORGET THIS IS NOT SOMETHING THAT IS JUST GOOD HURT QUALCOMM. THIS COULD HURT ARM AS WELL BECAUSE IF YOU ARE KNOCKING TO SELL THE LICENSES TO THESE CHIPS, THAT HURTS THEM. IT IS A RISK. IT IS A BIG RISK THEY ARE TAKING.
AND MY SENSE -- THEY ARE NOT SAYING IT THIS WAY, MY SENSE IS THIS IS AIMED AT PUTTING EXTRA PRESSURE ON QUALCOMM ON THE PEOPLE OF THIS TO MAYBE WORK OUT SOME KIND OF A SETTLEMENT MAYBE WORK OUT SOME KIND OF AGREEMENT BUT WORKS TO ARMS ADVANTAGE. >> TO POINT OUT IS WE JUST SHOWED BLOOMBERG'S TOM GILES IN LONDON. I WANT TO GO TO STACY, SENIOR ANALYST AT BERNSTEIN RESEARCH COVERING U.S. SEMICONDUCTORS AND SEMICONDUCTOR IN YOUR NOTE WHICH IN REACTION TO THAT BLOOMBERG REPORT I THINK USE MAKE THE SAME ARGUMENT TOM JUST OUTLINED. THIS WAS AN ACTION TAKEN BY ARM TO YOUR MIND TO FORCE SOME KIND OF PRETRIAL SETTLEMENT.
>> IT FEELS THAT WAY. IT IS A 60 DAY SUPPOSEDLY TIMELINE. ASSUMING THEY DID THIS YESTERDAY, THE 60 DAY LIMIT WOULD BE DECEMBER 21. THE TRIAL RIGHT NOW IS
SCHEDULED FOR DECEMBER 16 TO DECEMBER 20 SO IT'S KIND OF RIGHT ON TOP OF THAT. TO ME THIS FEELS LIKE AN ATTEMPT TO DRIVE A SETTLEMENT FROM QUALCOMM ON THE EVE OF THE TRIAL. IT FEELS LIKE THEY'RE RAMPING UP THE NEGOTIATIONS. >> STACY, ON MONDAY NIGHT QUALCOMM UNVEILED SNAPDRAGON EIGHT ELITE WHICH IS BASED ON THE NEW VIA ACQUISITION. LESS THAN 24 HOURS AGO CHRISTIAN CAME ON THE SHOW TO DISCUSS IT. LAST NIGHT BLOOMBERG BROKE THE
STORY ABOUT ARM CANCELING THE LICENSE IS PART OF THIS DISPUTE. COINCIDENCE, OR WHAT YOU THINK OF THE CHRONOLOGY? >> THEY LOOK LIKE GOOD PARTS. THE GENERAL THRUST OF THIS AS I UNDERSTAND IT. I AM NOT A LAWYER AND I WON'T BE ON THE JURY EITHER PUT QUALCOMM ABOUT THIS COMPANY. NEW VIA WAS AN ARM SERVICE BUT IT WAS AN X APPLE -- A BUNCH OF APPLE GUYS THE DESIGN THE FIRST CUSTOM CHIP.
QUALCOMM BOUGHT THEM TO GET THAT EXPERTISE IN THERE. GOING TO BE DELIVERING PRODUCT ACROSS THE PORTFOLIO USING THAT EXPERTISE. THEIR CURRENT TECHNOLOGY LICENSE, MOVING TO AN ARCHITECTURAL LICENSE WORK WHERE THEY DO -- WERE RATES TEND TO BE LOWER. SO WHAT ARM I THINK REALLY WANTS FOR QUALCOMM TO APPLY THE HIGHER RATES IN THE PORTFOLIO BECAUSE OTHERWISE THE RATES WOULD COME DOWN. AND THEN QUALCOMM, TO ENABLE THAT ARM DECIDED NOT TO APPROVE THE LICENSE TRANSFER TO QUALCOMM. THEIR RESPONSE AND I HAVE A CERTAIN DEGREE OF SYMPATHY FOR.
THEIR RESPONSES EFFECTIVELY WHAT ARE YOU TALKING ABOUT WE HAVE OUR OWN ARCHITECTURAL LICENSING WITH THE EXACT SAME IP AND TECHNOLOGY PAID TAKE A HIKE. THAT SEEMS TO BE WHERE THIS IS. POTENTIALLY WORRIED RATES COULD GO LOWER IF QUALCOMM MAKES THE TRANSITION TO ARCHITECTURAL LICENSE. I THINK IF QUALCOMM WOULD AGREE WHAT ARM WAS WANTING AND HOPEFULLY THEY WILL SETTLE SOMEWHERE IN THE MIDDLE. I CANNOT IMAGINE IT IS GOOD FOR EITHER OF THEM.
TO ACTUALLY TAKE THIS IN FRONT OF A JURY. JURY TRIALS UNDER THE BEST CIRCUMSTANCES. >> ALLOW ME TO TAKE THIS OPPORTUNITY TO POINT OUT THAT ARM DID NOT COMMENT ON THE BLOOMBERG REPORT. QUALCOMM DID. LET'S SHOW WHAT QUALCOMM HAD TO SAY OR AT LEAST SOME OF IT.
IT IS KIND OF FIGHTING TALK. IT IS THEM SAYING IT'S TRYING TO STRONG-ARM A LONGTIME PARTNER AND THIS IS THE BIT I WANT TO TALK ABOUT. WITH THE PERFORMANCE LEADING CPUS. QUALCOMM IS NOT THE SAME COMPANY FROM CALIFORNIA SIX YEARS AGO. IT TRIED TO DIVERSIFY ITS BUSINESS IN THE NEW VIA ACQUISITION AND IT SORT OF CHANGE OF TECHNOLOGY SMARTPHONES CALL TO THAT.
COULD YOU SPEAK ABOUT HOW YOU VIEW QUALCOMM AND ITS PLACE IN THE SMARTPHONE MARKET FOR ANDROID. >> THEY ARE PRETTY DOMINANT. THEY OWN THE WHOLE FLAGSHIP SPACE. PARTICULARLY IN SMARTPHONES. THEY HAVE ALSO BEEN, THE WHOLE SPACE HAS BEEN PUSHING TOWARDS AI SMARTPHONES AND WE CAN ARGUE DOES IT DRIVE AND UPGRADE CYCLE. INCREASINGLY WHEN PEOPLE BUY
SMARTPHONES THAT'S GOOD TO BE FOR SALE. HIS MATERIALLY HIGHER VERSUS FUNDS WITHOUT THE AI FUNCTIONALITY. THAT'S A BIG AREA WHERE SOME OF THE ARCHITECTURE HE EXPERTISE IS COMING IN TERMS OF PERFORMANCE. IT'S ALSO IN THE BENCHMARKS. THEY'RE NOT JUST ISOLATING NEW VIA.
THEY ALREADY LAUNCHED PC CHIPS AND THEY WILL BE ROLLING OUT ACROSS THE REST OF THE INCREASINGLY DIVERSIFIED PORTFOLIO. >> ARM SHARES ARE LOWER THAN QUALCOMM SHARES IN THIS WHOLE SITUATION. GREAT TO HAVE YOU BACK ON BLOOMBERG TECHNOLOGY. SENIOR ANALYST AT BERNSTEIN RESEARCH THANK YOU VERY MUCH. COMING BACK UP, WAVE CEO AND COFOUNDER ALEX KENDALL WE WILL TALK ABOUT THE U.K.
COMPANY MAKING MOVES IN AUTONOMOUS DRIVING COMING UP NEXT, THIS IS BLOOMBERG TECHNOLOGY. AUTOMOTIVE AI MAKER WAVE IS MAKING ITS WAY TO SILICON VALLEY BREAD LONDON-BASED STARTUP IS ROAD TESTING AND OPENING A NEW OFFICE IN SUNNYVALE CALIFORNIA. ALEX KENDALL IS THE WAVE COFOUNDER AND JOINS US NOW FOR THE U.K.. WHAT'S SO INTERESTING ABOUT
WAVE IS NO FOCUS ON THE HARDWARE. NO FOCUS ON THE CAR IS JUST THE FOUNDATION MODEL, THE ROBOTIC BRAIN THAT HELPS A CAR LEARN HOW TO DRIVE ITSELF. LET'S START BY ASKING WHY YOU FELT YOU NEED TO BRING THE TESTING TO CALIFORNIA TO THE STREETS OF SAN FRANCISCO. >> WE ARE EXCITED TO BRING A FRESH PRODUCT APPROACH TO THE U.S. MARKET. I THINK IN GENERAL BEING ABLE TO OPERATE IN AI AT SUCH A DIVERSE MARKET IS GOOD TO BE AWESOME FOR US.
THE NEED ABOUT THIS APPROACH IS IT CAN ALLOW ALL RANGES OF AUTOMATION FROM DRIVER ASSISTANCE UP TO FULL AUTONOMY DIFFERENT TYPES OF VEHICLES IN DIFFERENT DRIVING ENVIRONMENTS AND DIFFERENT CULTURES. WE ARE NOW TRAINING -- TRADING WITH DATA FROM OVER 15 COUNTRIES BUT TO HAVE A TESTING FLEET ON THE GROUND AND SHOW THAT IN AI CAN GENERALIZE AND DRIVE IN A NEW ENVIRONMENT LIKE THE U.S. IN CALIFORNIA. THIS IS A REALLY EXCITING MOMENT FOR OUR BUSINESS. >> JUERGEN A START WITH BASICALLY LEVEL TWO FUNCTIONALITY SO YOU DON'T NEED A DMV PERMIT BUT WHAT ARE THE NEXT STAGES, HOW WILL YOU EXPAND THE TESTING FOR THE CALIFORNIA MARKET. >> FUNDAMENTALLY THIS IS AN AI THAT BRINGS IT OUT OVER THE INTERNET INTO THE PHYSICAL WORLD TO BE ABLE TO DRIVE AND OPERATE VEHICLES PAID THIS IS AN AI THAT CAN DRIVE WITH DISTRICT -- DIFFERENT TYPES OF SENTENCES PRETTY WAS INTERESTING FOR US IS WHAT WE WANT TO DEPLOY IN A RANGE OF AUTOMOTIVE PROJECTS -- PRODUCTS, THE LATEST VEHICLES HAVE GP USE AROUND CAMERAS AND RADAR SENSORS.
THE PERFECT ENVIRONMENT TO REAP THE BENEFITS. SO THE MODEL WE WANT TO BRING. WE WILL SEE THIS DEPLOYED WITH DRIVER ASSISTANCE. TO IMPROVE THE QUALITY OF SYSTEM OVER TIME. AND ULTIMATELY BRING US TO THIS AUTONOMOUS FUTURE. >> YOU'VE RAISED MORE THAN $1 BILLION FROM THE LIKES OF SOFTBANK, NVIDIA. HOW QUICKLY BURNING THROUGH
THAT AND WHERE IS THE MONEY GOING? >> WE HAVE BEEN A FAIRLY DISCIPLINED COMPANY FOR THE LAST SEVEN YEARS. SEVERAL YEARS AGO WE HAD A THESIS ON INTIMATE AI APPROACH FOR AUTONOMOUS DRIVING AND IT'S SOMETHING THAT WE'VE BEEN BUILDING OUT AND PIONEERING WITH THE REALLY INTERESTING APPROACHES TO BE MORE DATA EFFICIENT TO LEARN FROM SIMULATION AND GENERATIVE AI AND WHILE WE ARE SEEING A LOT OF EXPANSION AND GROWTH IN THE AMOUNT OF DATA WE ARE TRADING ON WE WANT TO CONTINUE TO MAKE A LEAN AND COST-EFFECTIVE SOLUTION POSSIBLE WHEN IT COMES TO MARKETS. AND THE PARTNERS WE'VE GOT IN THE U.S. THAT ALSO MAKE THIS INTERESTING FOR US TO BE ABLE TO OPERATE IN THE SAME MARKET CLOSER TO THE PARTNERS LIKE UBER, NVIDIA AND MICROSOFT TO POWER OUR COMPUTE AND THE EARNING SYSTEMS IS GOOD BE SO CRITICAL. >> WAVE CEO ALEX KENDALL, IT'S GREAT TO HAVE YOU ON BLOOMBERG TECHNOLOGY. COMING UP ON THE SHOW, WE ARE LIVE IN SAO PAULO. THE B 20 SUMMIT AND TALKING TO
GOOGLE BRAZIL CEO FILE BE A QUELL OPEN THAT'S NEXT, THIS IS BLOOMBERG TECHNOLOGY. >> HAPPENING TODAY IN BRAZIL, THE B 20 BUSINESS FORM, BLOOMBERG'S JOUMANNA BERCETCHE IS THERE WITH A SPECIAL GUEST. JP OUMANNA: JOINING ME IS THE GOOGLE BRAZIL PRESIDENT. TALK ABOUT THE BRAZIL LANDSCAPE. BRAZIL IS PROBABLY THE MOST ADVANCED DIGITAL ECONOMY IN ALL OF LATIN AMERICA.
WHAT CIRCUMSTANCES HAVE ALLOWED FOR THAT TO HAPPEN. >> FIRST IT'S A LARGE MARKET PAID WE HAVE 200 PLUS MILLION PEOPLE. SECOND IT IS 700 AND INFLATION IN THE 90'S WHICH DROVE A LOT OF THE AUTOMATION IN THE TECHNOLOGY WAS DEPLOYED AT THE FINANCIAL SECTOR FOR USERS. AND THIRD, BRAZILIANS ARE EXTREME ENTREPRENEURS AND THEY LIKE TECHNOLOGY. WE HAVE PEOPLE WHO WOULD'VE BEEN AROUND FOR 19 YEARS WITH A VERY GOOD RELATIONSHIP. JOUMANNA: WHAT ROLE DO YOU SEE FOR GOOGLE IN TERMS OF DRIVING THE DIGITAL TRANSPORTATION -- TRANSFORMATION IN THE COUNTRY. FABIO:
ARE PLATFORMS OF THE TOP OF THE WORLD FOR MOST OF THE APP. BRAZILIANS HAVE A LOVE AFFAIR WITH TECHNOLOGY WITH GOOGLE PLATFORMS. ALSO IT'S IMPORTANT WE ARE ABLE TO EMPOWER BUSINESSES TO BE ABLE TO BECOME MORE EFFICIENT. EFFICIENCY IN AN ECONOMY LIKE THE BRAZILIAN ONE WHICH IS AN EMERGING MARKET IS IMPORTANT. WE HAVE NOW BRAZILIANS VERY EAGER TO ADOPT AI AT THE NEXT WAVE OF TECHNOLOGY AND THEIR OPTIMIST ABOUT THE USE OF AI. JOUMANNA: ON ONE HAND AI CAN INCREASE EFFICIENCIES AND PRODUCTIVITY BUT ON THE OTHER HAND THERE ARE CONCERNS ABOUT PRIVACY AND DATA PROTECTION. HOW DO YOU SEE THE PATH FORWARD
FOR AI? FABIO: IT STARTS WITH THE RIGHT PRINCIPLE. WE NEED TO BE BOLD AND RESPONSIBLE. GOOGLE HAS ETHICAL PRINCIPLES OF AI UTILIZATION WHICH IS IMPORTANT. AND THIRD, VERY IMPORTANT IS TO
HAVE A DIALOGUE AROUND SOCIETY TO MAKE SURE REGULATIONS ARE IN PLACE. BUT IN A WAY THAT THEY ARE DISCUSSED WITH THE SOCIETY. WE HAVE THE BRAZIL -- THE FRAMEWORK BILL IS NOW CELEBRATING 10 YEARS OF EXISTENCE AND THAT WAS A VERY GOOD EXAMPLE OF THE PROCESS DEGREE REGULATIONS. WE EVOLVE BUSINESSES DEVELOPERS, POLITICIANS AND WE GET TO THE BEST MODEL IN SUCH EMERGING TECHNOLOGIES. >> A HIGH-PROFILE CASE RECENTLY IN BRAZIL OF A TIT FOR TAT THAT WENT ON BETWEEN ELON MUSK ASKED -- X PLATFORM AND THE BRAZILIAN REGULATOR OVER CONCERNS ABOUT DISSEMINATION OF FAKE NEWS AND OF HATE SPEECH. SPECIFICALLY WHAT IS GOOGLE
DOING TO COMBAT THE PROLIFERATION OF ALL OF THAT. OF HATE SPEECH AND DISINFORMATION, WHAT GUARDRAILS DO YOU HAVE IN PLACE. >> WE HAVE TO RESPECT THE LAW SO WE WORK WITH -- WE MOVE ANYTHING IT WAS RELATED TO HATE CRIME, RACISM, VIOLENCE, ALL TYPES OF CRIMES THAT WE NEED TO ADHERE TO THE LAW. THAT'S AMAZING. THEN WE HAVE PLATFORM RULES. AND THEN WE HAVE QUALITY CONTENT BUT PARTNERSHIPS IN BRAZIL WITH MORE THAN 175 PUBLISHERS BECAUSE GOOD CONTENT NEEDS TO GO OUT TO BE ABLE TO SHOW THAT WE EDUCATE CONSUMERS AND HELP THEM TO GET THE BEST OUT OF THE PLATFORM. IT NEEDS TO EITHER BE PRIORITIZED OR IN CASES WHERE WE SEE PRISON AND JUSTICE SEES REASON WE MOVE THAT.
>> AT THE GROUP LEVEL THE DEPARTMENT OF JUSTICE IN THE U.S. HAS LAUNCHED AN INVESTIGATION INTO ALPHABETS PRACTICES. THERE ARE CONCERNS THAT ONE OF THE RAMIFICATIONS COULD BE DUE TO PRACTICES THAT ARE PUT IN PLACE PREYED WHAT YOUR LEVEL OF CONCERN ABOUT THAT ACTUALLY HAPPENING. >> I AM NOT IN A POSITION TO DISCUSS THE GLOBAL RULES AND RESPONSIBLE FOR BRAZIL. IT'S PUTTING ALL THE INFORMATION ABOUT THIS. >> LET ME ASK YOU THEN IN BRAZIL SPECIFICALLY.
DO YOU THINK THE REGULATOR IS GETTING THE BALANCE RIGHT BETWEEN INNOVATION AND SAFEGUARDING CONSUMERS. >> WE HAVE BEEN VERY PLEASED WITH OUR RELATIONSHIP WITH REGULATORS AND WE HAVE BEEN INVOLVED IN DIALOGUES AT THE TIME WE HAVE THE CHANCE TO DISCUSS, WE WORK TOGETHER WITH THE SUPREME COURT AND THE ELECTORAL COURT WITH THE SENATE AND LOWER HOUSE TO MAKE SURE THAT WE ALL UNDERSTAND AND COME TO A COMMON DENOMINATOR. THIS IS IMPORTANT BECAUSE THIS IS NEW AND WE NEED TO MAKE SURE IN A WAY WE GET A RESPONSIBLE APPROACH BUT WE DO NOT CASTRATE THE ECOSYSTEM OF INNOVATION. GOOGLE HAS IN SAO PAULO FOR THE LAST 80 YEARS. WE'VE ACCELERATED FOR AND 50 COMPANIES HERE. IT MEANS THERE'S AN ENTREPRENEUR GROUP IN BRAZIL AND WE WANT TO MAKE SURE IT STAYS THAT WAY.
>> A GOOD PLACE TO STAY WITH IT. I WILL TOSS IT BACK TO YOU. >> IN SAO PAULO, THE PRESIDENT OF GOOGLE BRAZIL. THANKS TO YOU BOTH. CHECK OUT LIVE GO. COMING UP AMBASSADOR CATHERINE, CONVERSATION WITH BLOOMBERG'S STEPHANIE FLANDERS. THAT'S WHEN YOU DO NOT WANT TO MISS COMING OUT OF THE 20 PER JAM PACKED SHOW, THAT DOES IT FOR THIS EDITION OF BLOOMBERG TECHNOLOGY. YOU KNOW WHAT TO RECAP THE SHOW ON THE PODCAST OF COURSE.
ON THE TERMINAL AND THE BLOOMBERG PLATFORMS. BUT ALSO ONLINE AT APPLE, SPOTIFY AND I HEART. FROM SAN FRANCISCO AND THANKS TO THE TEAM IN NEW YORK THIS IS BLOOMBERG TECHNOLOGY.
2024-10-26 09:36
