'Bloomberg Technology' Full Show (05/09/2023)
>> FROM THE HEART OF WHERE INNOVATION, MONEY POWER COLLIDE IN SILICON VALLEY AND BEYOND, THIS IS BLOOMBERG TECHNOLOGY WITH CAROLINE HYDE AND ED LUDLOW. CAROLINE: I'M CAROLINE HYDE OUT BLOOMBERG WORLD HEADQUARTERS IN NEW YORK WRITTEN. ED: AND I'M ED LUDLOW, THIS IS "BLOOMBERG TECHNOLOGY". CAROLINE: CHIP MAKERS STRUGGLE WITH THE INDUSTRY DOWNTURN. ED:
SALESFORCE EXPANDING WITH NEW TOOLS, THERE COPRESIDENT JOINS US FROM VEGAS. CAROLINE: AND RAISING $100 MILLION FOR CAR INSPECTIONS, WE SPEAK WITH THE CEO THAT CIO OF RX. WE ARE CAUTIOUS. WE SEE A PULLBACK ON THE NASDAQ, UP 5.6%. WORRIES ABOUT THE DEBT CEILING COMING FRONT AND CENTER BUT WHAT IS HAPPENING IN CHINA, THE WORRY ABOUT THE IMPORT DEMAND NOT BEING AS STRONG AS ANTICIPATED. IS THE LOCAL ECONOMY NOT RETURNING TO GROWTH POST-COVID? : DRAGON UP. UP BY .9%. YOUR WORLD OF CRYPTO, CAUTION OVERALL, WE ARE UP BY ABOUT .5%.
VOLATILITY IN BITCOIN, AHEAD ON THE DEBT CEILING, IT IS ABOUT CRYPTO. TAKING A PAUSE ON CRYPTO. ED: THE EARNINGS STORY FROM A PAYPAL LOWERING THE MARGINS OUTLOOK. DETAILS LATER. LUCID GROUP SOFTER BY ABOUT 8%, AN AUTOMAKER TRYING TO CATCH UP WITH TESLA BUT NOT MAKING PROGRESS.
PAIN FOR THE CHIP SECTOR SEEMS TO BE IN PLACE THROUGH THE END OF THE YEAR. IAN KING IS THE GUY YOU WANT TO TALK TO. GLOBAL FOUNDRIES A SOFTER BY 5%. THE BIG MOVER TO THE UPSIDE, A COUPLE PERCENTAGE POINTS MORE IN THIS STOCK IS HEADING FOR ITS BIGGEST JUMP SINCE JANUARY 2021. THEY'VE SHOWN THEIR HAND WITH NAI TOOL AND TALKED ABOUT UNPRECEDENTED DEMAND FOR THAT TOOL DURING THE EARNINGS CALL. I WANT TO BRING IN LIZETTE CHAPMAN HEARINGS IN SAN FRANCISCO, THAT TOOL, WHAT IS IT? WAS AT: -- LIZETTE: THEY HAD A SURPRISE PROPHET, FOR NOT ONLY THE CURRENT QUARTER OF THE YEAR.
AN UNPRECEDENTED DEMAND FOR THEIR AI PLATFORM WHICH AS THE CEO SAID IS STILL UNDER CONSTRUCTION. THEY DON'T HAVE A PRICING STRATEGY BUT THEY ARE IN CONVERSATION WITH HUNDREDS OF CUSTOMERS ABOUT INCORPORATING THIS INTO THEIR PLANS. CAROLINE: HE IS NOT SHY OF USING CONTROVERSIAL LANGUAGE AND SAYS THE LARGE LANGUAGE MODELS HAVE A RESOLUTION THAT WILL RAISE SHIPS AND SINK SHIPS. I'M FASCINATED HOW THIS SITS WITH PEOPLE ABOUT GENERATIVE AI, STARTING IN LARGE LUNG WHICH MODELS, HELPING US IN THE BATTLEFIELD. LIZETTE: THERE IS BEEN HUGE DEMAND BASED ON INCREASED INTEREST FROM THE DEPARTMENT OF DEFENSE AND OUR ALLIES.
IT IS SEEN AS A CRITICAL ASSET AND A SOFTWARE FIRST DEFENSE SCENARIO. GIVEN THE TENSIONS WITH CHINA AND RUSSIA AND OTHERS WERE NOT FRIENDLY. THERE IS A DEFENSE APPLICATION. MORE AND HALF OF THEIR REVENUE COMES FROM THE GOVERNMENT SECTOR, INCLUDING THE DEPARTMENT OF DEFENSE AND ALL OF ITS PRINCES -- BRANCHES IN OUR ALLIES. THE DEFENSE CONTEXT ALONG WITH COMMERCIAL APPLICATIONS. ED:
WHAT IS ASTONISHING, THOSE SOCKS UP, SURPRISE PROPHET. LIZETTE: IT IS A SURPRISE PROPHET. ONE THING THAT WAS INTERESTING WAS THEY ACHIEVED THIS TWO YEARS BEFORE THEY SAID THEY WOULD. ORIGINALLY, THE PLAN WAS FOR THEM TO HIT CAP PROFITABILITY I 2025. NOW THEY ARE SAYING THEY WILL DO IT FOR THE FULL YEAR AND MAINTAIN PROFITABILITY WHILE CONTINUING TO REORIENT ALL OF THEIR RESOURCES, THOUSANDS OF EMPLOYEES AROUND BUILDING THE AI PLATFORM. CAROLINE:
BIG MOVE ON THE STOCK. GREAT TO HAVE LIZETTE CHAPMAN BREAKING IT DOWN ON THE SURPRISE PROPHET SIDE AND ALL IN ON AI. WE THANK YOU FOR COMING AND ENJOYING THE SHOW. WITH TURN TO ANOTHER KEY COMPANY OUT WITH EARNINGS. THE SHARE PRICE NOT HAVING A SIMILAR REACTION. GOEBEL FOUNDRY SIGNALING
WEAKNESS ON ITS OUTLOOK. BLOOMBERG'S IAN, THE KING OF ALL THINGS WHEN IT COMES TO CHIP COVERAGE. WHAT DO YOU MAKE OF WHAT THIS IS SIGNALING BROADLY? WE ARE WAITING FOR A TURNAROUND. HIS GLOBAL FOUNDRY A BELLWETHER
FOR THE SECTOR? IAN: YEAH. THROUGH THEIR CUSTOMERS THEY IN THE AUTO CHIP BUSINESS, CENTER BUSINESS, THE MOBILE PHONE BUSINESS. THE OUTLOOK THAT THEY GAVE TODAY UNFORTUNATELY REFLECTS A LOT OF WHAT HAS BEEN SAID THROUGHOUT THIS EARNINGS SEASON. THAT IS NOT PARTICULARLY POSITIVE. CAROLINE:
ARE WE TENDING TO START TO THINK WE CAN CALL A BOTTOM ON THIS? DID THEY SAY THIS IS NOT LOOKING GOOD, IN THE HERE AND THE NOW, BUT WE SEE LIGHT AT THE END OF THE TUNNEL? IAN: THEY ARE SPEAKING OUT OF BOTH SIDES OF THEIR MOUTH. WHICH A LOT OF CHIP COMPANIES HAVE BEEN DOING. QUARTER ONE WAS THE BOTTOM AND THINGS WILL GET BETTER FROM HERE. BUT THINGS WILL NOT GET BETTER
AT THE RATE WE THOUGHT THEY WOULD. THAT IS CAUSING CONCERN, CAN WE BELIEVE THIS ROSE TINTED SCENARIO FOR THE SECOND HALF OF THE YEAR? GLOBAL FOUNDRY SAID NOT LOOKING AS GOOD AS WE THOUGHT. CAROLINE: ON THE SPECIFICS, WHAT AREAS OF DEMAND? WHAT PARTICULAR AREAS OF DEMAND ARE WE WORRIED ABOUT? IAN: SMARTPHONES HAVE GOT TO BE NUMBER ONE. THEY HAVE REPEATED WHAT QUALCOMM SAID, WHICH IS CHINA HAS NOT COME BACK AS QUICK AS WE THOUGHT.
THE INVENTORY WE SAID WAS GOING TO BE BURNED AWAY BY THE MIDDLE OF THE YEAR LOOKS LIKE IT WILL BE HANGING AROUND INTO THE SECOND HALF. SUPPLY IS KIND OF GETTING BETTER. THE POSITION IS IMPROVING. BUT DEMAND, WHERE IS IT? CAROLINE: NVIDIA WAS A DRAG AND YOU POINTED OUT THIS HAS BEEN A BELLWETHER FOR THEY CHIP SECTOR ON THE DAY. BUT NVIDIA HIT A 52 WEEK HIGH YESTERDAY. ARE WE GOING TO GET A BIFURCATED MARKET, ARE WE GOING TO SEE CHIPMAKERS AND DESIGNERS THAT ARE ON AI DOING WELL AND THOSE THAT ARE NOT LANGUISHING BECAUSE THEY ARE CONSUMER EXPOSED? EN: THAT WOULD BE THE WAY TO -- IAN: THAT WOULD BE THE WAY TO LOOK AT IT. THE ONLY GREEN SPOT WAS A&E AND
THAT IS A PLAY ON THE FUTURE OF AI AND WHAT INVESTORS ARE EXPECTED TO HAPPEN. ED: I AM READING THE KICKER IN YOUR STORY. GOEBEL FOUNDRIES IS A TINY PLAYER IN A WORLD DOMINATED BY TSMC AND SAMSUNG. DID YOU HEAR THEY ARE TAKING MARKET SHARE FROM THOSE BIGGER PEERS ECHO -- PEERS? WE MAY HAVE LOST YOU. GOOD REPORTING, BLOOMBERG'S IAN KING JOINING US OUT OF SAN FRANCISCO. COMING UP, SALESFORCE ANNOUNCED ITS REIMAGINED GENERATIVE AI SYSTEM. OUR DISCUSSION WITH COPRESIDENT
SARAH FRANKLIN. CAROLINE: I HOPE HE TWEETS OUT THE ANSWER BECAUSE IT WAS A GREAT QUESTION. LET'S LOOK AT WHAT IS HAPPENING OUTSIDE OF THE WORLD OF AI BEFORE WE DELVE BACK WITH SARAH AND TALK ABOUT WHAT IS HAPPENING WITH PAYPAL. THIS IS AN EARNINGS STORY, THIS IS MORE ABOUT OVERALL PROFITABILITY. IT IS ABOUT FOR YOUR MARGINS, ADJUSTED OPERATING MARGINS NOT GROWING AS QUICKLY AS ANTICIPATED. WE ARE SEEING PERHAPS 100 BASIS
POINTS. A FULL PERCENTAGE POINT EXTENDED OVER THE NEXT YEAR. THEY PREVIOUSLY SIGNALED 125 BASIS POINTS. THE VOLUME DID NOT DO MUCH FOR THE OVERALL TAKEAWAY FOR PAYPAL. OFF BY ALMOST 11%. THIS IS BLOOMBERG. ♪ ED: SALESFORCE EXPANDING ITS APPROACH TO GENERATIVE AI WITH A REIMAGINED VERSION OF ITS TABLEAU SUITE, WPT AND TABLEAU PULSE. WE WELCOME SALESFORCE
COPRESIDENT SARAH FRANKLIN FROM THE CONFERENCE IN LAS VEGAS. WHY IS SALESFORCE DOING THIS AND WHY NOW? SARAH: BIG PICTURE, SALESFORCE HAS BEEN A PIONEER IN AI PROGRAM DECADE. HE CREATED EINSTEIN, WHICH BROUGHT EVERYONE TO HAVE THEIR OWN DATA SCIENTIST A DECADE AGO. NOW WE DELIVER TRILLIONS OF PRODUCTIONS EVERY WEEK. FOR ALL OF OUR CUSTOMERS, WHICH BROUGHT THEM INTO AI.
NOW WE HAVE MOVED FROM PREDICTIVE TO GENERATIVE. AND SALESFORCE HAS LED EVERY SHIFT IN TECHNOLOGY, FROM CLOUD TO MOBILE TO SOCIAL, WE ARE LEADING ALL OF OUR CUSTOMERS INTO GENERATIVE AI WITH TABLEAU DPT AND TABLEAU PULSE. ED: YOU ARE OUT AT THE CONFERENCE. THE OTHER IS SLACK GPT. IS THIS YOU TRYING TO GET SALESFORCE CUSTOMERS TO USE THE SERVICES OF OTHER THINGS YOU HAVE ACQUIRED IN RECENT YEARS? SARAH: WE HAVE AN INCREDIBLE SUITE ACROSS THE ENTIRE CUSTOMER THREE 60.
SALES, MARKETING, COMMERCE. SLACK HAS BEEN HELPING EVERYONE HAVE GREAT PRODUCTIVE EMPLOYEES. HOW DO YOU MAKE EVERY EMPLOYEE MORE PRODUCTIVE, EVERY CUSTOMER MORE HAPPY? HOW DO YOU PROVIDE INCREDIBLE CUSTOMER SERVICE AND SALES AND MARKETING AND AN INTEGRATED SINGLE SOURCE OF TRUTH? BY PROVIDING THAT ENTIRE SUITE OF PRODUCTS FOR OUR CUSTOMERS, THEY CAN ALL HAVE BETTER CUSTOMERS AND EMPLOYEES. IT'S IMPORTANT THAT WE GIVE THEM ALL OF THEIR DATA SO THEY CAN UNLOCK IT AND HAVE THE TRUSTED CUSTOMER AND COMPANY DATA TO USE GENERATIVE AI AND HAVE TABLEAU GPT BRING THAT DATA TO LIFE FOR EVERYONE INVOLVED IN CUSTOMER ENGAGEMENT. ED: CAROLINE, DATA IS THE KEY POINT.
PARTICULARLY TALKING ABOUT ENTERPRISE. THERE IS AN ELEMENT OF CONCERN ABOUT THE DATA, THE SOURCING AND HOW IT IS SECURE. CAROLINE: USED TRUSTED, SINGLE SOURCE OF TRUTH. IS THERE ANY CONCERN THAT GENERATIVE AI DOES MAKE THINGS UP? IF THERE IS A HOLE IN THE PRIVATE DATA THIS IS BEING RUN ON, THAT HE LOOSENING -- OF HALLUCINATIONS, -- HOW DO YOU ENSURE PEOPLE ARE GETTING THE RIGHT INSIGHTS AT THE RIGHT TIME? SARAH: TRUST IS PARENT. EVERY COMPANY WANTS TO HAVE TRUSTED DATA. THEY NEED TO KNOW THEY HAVE DATA BEING TRUSTED.
YOUR CUSTOMERS EXPECT THEM TO TRUST THEM WITH THEIR DATA. SALESFORCE, WE HAVE ALWAYS HAD TRUST AS OUR NUMBER ONE VALUE. HAVING TRUSTED DATA IS IMPORTANT.
YOUR AI IS ONLY AS GOOD AS YOU DATA. NO COMPANY WANTS TO HAVE HALLUCINATIONS AS YOU SAY. THEY NEED TO TRUST THE AI. WE ALWAYS HAVE A HUMAN IN THE PROCESS BECAUSE THE AI IS HERE TO HELP US, NOT REPLACE US.
IT IS IMPORTANT THE DATA IS TRUSTED SO YOU CAN TRUST THE AI GREETED FROM THAT. CAROLINE: I AM FEELING YOU ARE ON THE AI IS HERE TO AUGMENT HUMANS, RATHER THAN TAKEAWAY JOBS. YOU HAVE BUILT YOUR CAREER ON THE DEMOCRATIZATION OF TECHNOLOGY, YOU ARE PASSIONATE ABOUT HOW PEOPLE CAN CHANGE FROM A BLUE-COLLAR JOB TO WHITE COLLAR, FOR EXAMPLE TRAIL HEADING.
ARE YOU THINKING AI WILL TAKE WHITE COLLAR JOBS? SARAH: I WANT TO LOOK AT GENERATIVE AI AS AN OPPORTUNITY. WHEN YOU REWIND BACK IN HISTORY AND THINK OF THE FIRST COMPUTER, THE FIRST COMPUTER WAS A PERSON, NOT A MACHINE. THERE IS FEAR IT WILL REPLACE US IN OUR JOBS. FAST-FORWARD TO TODAY, WE DON'T HAVE ENOUGH SKILLED TALENT FOR ALL OF THE JOBS THAT WORK WITH COMMUNITIES AND TECH. WE ARE SEEING NEW THINGS BEING CREATED, AI -- WE AS AN INDUSTRY , WE TAKE IT AS A RESPONSE ABILITY TO SCALE PEOPLE UP FOR THE FUTURE. IT IS A PLATFORM TO DEMOCRATIZE TECHNOLOGY SO EVERYONE CAN HAVE ACCESS AND LEARN. THERE IS INCREDIBLE OPPORTUNITY
AND WE WANT TO MAKE IT EASY AND ACCESSIBLE FOR EVERYONE. WE CAN ALSO HOPEFULLY CHANGE THE RATIOS IN TECH IN THE PROCESS. BUT WE ARE HERE TO SCALE PEOPLE UP AND REMOVE THE YEAR FROM THIS NEW TECHNOLOGY WE SEE FROM GENERATIVE AI. ED: HOW ARE THESE TOOLS DRIVING
SALES FOR SALESFORCE A? SARAH: GENERATIVE AI IS WHAT OUR CUSTOMERS ARE TALKING ABOUT. THEY WANT TO FUTURE PROOF THEIR BUSINESS IN THE WAKE OF THE TECHNOLOGY TREND. IT IS HERE TO STAY. EVERY ONE OF OUR CUSTOMERS IS LOOKING AT SALESFORCE AND SAYING WE TRUST YOU. WE KNOW YOU WILL GUIDE US INTO THE FUTURE LIKE YOU DID WITH CLOUD, MOBILE, SOCIAL. EVERY ONE OF OUR CUSTOMERS WANTS SALESFORCE GPT, MARKETING AND MORE, TABLEAU GPT AND TABLEAU PULSE ARE INNOVATIONS THAT WILL FUEL CUSTOMER SUCCESS. ED:
IN YOUR CAREER, YOU HAVE BEEN THROUGH WAVES OF NEW TECHNOLOGICAL ADVANCEMENT. THIS HAS HAPPENED QUICKLY. DID SALESFORCE REALLY PLAN THESE TOOLS OVER A LONG PERIOD OF TIME OR IS THIS SOMETHING YOU HAVE RUSHED THROUGH IN RECENT WEEKS IN RESPONSE TO WHAT THE INDUSTRY HAS DONE? SARAH: WHAT IS SO POWERFUL IS SALESFORCE HAS BEEN A PIONEER IN AI FOR OVER A DECADE. WE HAVE BEEN INVESTING IN OUR AI PLATFORM, EINSTEIN.
WE HAVE SEEN, WE HAVE OVER ONE TRILLION PREDICTIONS BEING DONE EVERY WEEK ON OUR APRIL -- AI PLATFORM. THIS IS NOT SOMETHING WE ARE JUST PULLING OUT OF A HAT. WE'VE BEEN INVESTING IN THIS FOR A LONG TIME AND WE HAVE TO BEST DATA SCIENTISTS AND THEY ARE GENERATING INCREDIBLE LARGE SLING WHICH MODELS TO HELP US CREATE CODE, REPLY RESPONSE, GREAT ENGAGEMENT AND WAYS -- LIKE WITH TABLEAU GPT AND PULSE, FOR PEOPLE TO BRING THEIR DATA TO LIFE. IN THE PAST THEY HAVE NOT BEEN ABLE TO DO THAT EASILY. THIS IS SOMETHING SALESFORCE HAS BEEN DOING A LONG TIME AND WILL CONTINUE TO BE A LEADER IN GENERATIVE AI. CAROLINE:
A LEADER AT A TIME WHEN MACRO HEADWINDS FOR EVERY INDUSTRY ARE TOUGH. AS YOU TALK ABOUT THE IN-HOUSE TALENT YOU HAVE TO KEEP BUILDING, COMPANIES LIKE YOURS ARE HAVING TO LAY OFF STAFF, SLIMMED DOWN IN THE FACE OF WHAT HAS BEEN A SLOWING ECONOMY. HAVE YOU GOT THE RIGHT MIX OF TALENT AT THE MOMENT? SARAH: WE HAVE THE MOST TALENTED ENGINEERS, SALESPEOPLE. THE BEST PEOPLE IN THE BUSINESS. AND WE ARE MORE EQUIPPED THAN
EVER. OUR COMPANY IS IN A GREAT SPOT FOR THE DECADES TO COME, WE ARE LASER FOCUSED ON OUR CUSTOMERS, OUR INNOVATION AND DELIVERING SUCCESS FOR EVERYONE. CAROLINE: SARAH FRANKLIN, THANK YOU, COPRESIDENT OF SALESFORCE. A CONCERN WITH ARTIFICIAL INTELLIGENCE, BEING REPLACED. ESPECIALLY FOR THOSE THAT WORK IN THE MEDIA LANDSCAPE AND GPT ZERO WILL DISTINGUISH WHETHER COPY WAS WRITTEN BY A HUMAN OR ARTIFICIAL INTELLIGENCE. MORE THAN ONE MILLION USERS HAVE REGISTERED SINCE JANUARY AND THE BRAIN BEHIND THE APP IS A 22-YEAR-OLD FROM PRINCETON. ALSO LAUNCHING A NEW PROGRAM
CALLED ORIGIN WHICH AIMS TO WEED OUT MISINFORMATION. IT SECURED REPORT $5 MILLION IN FUNDING SO FAR. ED: IBM INTRODUCING A PLATFORM FOR LARGE COMPANIES TO TRAIN AND USE AI MODELS. WHEN IT RAINS, IT POURS.
LEANING IN ON THE LEGACY TO STAND OUT ANY CROWDED FIELD FOR AI TOOLS. NOT DOING MUCH TO SUPPORT THE SHARES THIS TUESDAY, DOWN 1.7. A SEVEN MONTH LOW. SO MANY HEADLINES. REGIONAL BANKS RESUMED THEIR
SELLOFF AS UNCERTAINTY HITS THE SECTOR. WE DISCUSSED NEXT IN OUR WEEKLY WALL STREET BEAT. THIS IS BLOOMBERG. ♪ ED: TIME FOR WALL STREET BEAT. PAC WEST ED WESTERN ALLIANCE
LED BANK STOCKS -- A RASH RUSSIAN CONCERNS ABOUT STABILITY. THE LATEST COMPANY TO JOIN THE WAVE OF JOB CUTS, PLANNING TO CUT THE JOBS IN CHINA -- THEY WILL'S THAT THEY FURTHER SHRINK THEIR PRESENCE IN THE SECOND LARGEST ECONOMY. GOLDMAN SACHS AND MICROSOFT JOINING IN NEW BLOCKCHAIN SYSTEM AIMED AT LINKING DISPARATE INSTITUTIONAL APPLICATIONS, ENCOURAGING BROADER ADOPTION OF DISTRIBUTED TECHNOLOGY AND MARKETS. PARTICIPANTS IN THE NETWORK THAT WILL START TESTING FEATURES IN JULY SAY THE SYSTEM OFFERS BETTER PRIVACY AND CONTROLS THAT AVAILABLE CURRENTLY. IT WILL ACHIEVE A SCALE IN STANDARD APPROPRIATE FOR FINANCIAL INSTITUTIONS, ALL ACCORDING TO A STATEMENT RELEASED BY THE COMPANY'S TUESDAY. CAROLINE:
ONE TO DIG INTO. BLOCKCHAIN IS BACK. CELEBRITIES ARE ENDORSING BRANDS, RX THREE RAISING 150 MILLION DOLLARS FROM ATHLETES ENDS LIBERTIES FOR THE SECOND EQUITY FUND WHERE THEY ANALYZE CONSUMER OPPORTUNITY IS COMING UP, NATE WILL BE JOINING US, MANAGING PARTNER AT RX THREE VENTURES. ANOTHER STOCK WE HAVE OUR EYE ON, AND TENDO. THEY ARE LEARNING AND WARNING
OF BIG SLOWDOWNS IN THE SWITCH CONSOLE SALES, A KEY CONCERN. BUT THEY ARE MANAGING TO TRADE ABOVE WATER, OVER THE LAST FEW TRADING DAYS. SEEMS MAYBE ONE TOO MANY CONSOLES. YOU ARE THE EXPERT. ED: WE PAIRED SOME EARLIER GAINS UP OR THE 9% AFTER WE DID AN INTERVIEW OF THE CEO. REACHING A DEAL WITH PORSCHE TO
BASICALLY GIVE THEM THE ADVANCED DRIVER TECHNOLOGY, ASSISTANCE TECHNOLOGY. THE CEO TELLING ME WE COULD SEE THE TECH IN REAL CARS IN PRODUCTION SOONER THAN WE MIGHT THINK. HAVE A LISTEN. >> NORMALLY WHEN YOU GET A DESIGN, IT IS BETWEEN TWO TO THREE YEARS UNTIL YOU HAVE THE START OF PRODUCTION.
WE ARE TALKING ABOUT THE SAME TIMEFRAME BUT WE STARTED WORKING A FEW MONTHS BEFORE THIS ANNOUNCEMENT. YOU CAN DO THIS MATH AND COME UP WITH THE START OF PRODUCTION. ED: THIS IS A DEAL THE MOBILE I.T. IN RECENT WEEKS, PARTICULARLY ON THE EARNINGS CALL. WHO IS THE MYSTERIOUS EUROPEAN AUTOMAKER THEY ARE DOING BUSINESS WITH? DECENT. IT WILL BE INTERESTING TO SEE IF THEY MOVE THE NEEDLE. CAROLINE:
ALWAYS USEFUL WHEN IT IS A LUXURY BRAND THAT IS WELL-KNOWN AND WELL LOVED ACROSS EUROPE. THIS IS ABOUT RINGING THINGS TO THE BOTTOM LINE AND HOW MUCH IT STARTS TO IMPACT OUR REAL LIFE AND REAL WORLD, THE WAY WE START TO DRIVE. IT SEEMS IT IS INTERESTING WHEN THESE OLDER LUXURY NAMES WANT TO ADOPT THIS NEW TECHNOLOGY. ED:
THEY ARE LOOKING TO AN EXPERT IN THE FIELD, DRIVER ASSISTANCE ON THE CHIP SIDE AND THE SENSOR SIDE. SEE HOW THEY GET ON. ED: WELCOME BACK, I'M ED LUDLOW IN SAN FRANCISCO. CAROLINE: I'M CAROLINE HYDE IN NEW YORK. LOOKING AT WHAT HIS SENTIMENT, LACKLUSTER ON THE DAY. THE NASDAQ WORRIED ABOUT KEY THEMES IN THE U.S.. THE DEBT CEILING KEEPING INVESTORS ON EDGE.
CHINA, MORE OF A HIT AND ANTICIPATING, GOLDEN DRAGON AND SOME OF THE CHINESE LISTED COMPANIES IN THE U.S. -- THE BANK INDEX, KEEPING AN EYE ON INDEXES. A LOT TO THINK ABOUT FROM THE MACRO PERSPECTIVE. THE EARNINGS, THE MICRO, A QUICK LOOK IN TERMS OF INDIVIDUAL TECH NAMES. AMAZON WAS UP MORE THAN THIS, IN TERMS OF POINT PERSPECTIVE, IT WAS ADDING. YOU MIGHT BE ABLE TO BUY AMAZON PRODUCTS EVEN IN A GAMING OR VIRTUAL-REALITY SPHERE.
YOU CAN ORDER THAT NO MATTER WHERE YOU GO. THE BIGGEST MOVE SINCE 2021, PALANTIR TECHNOLOGIES. AN UNPRECEDENTED DEMAND. PAYPAL ON THE DOWNSIDE, OPERATING MARGIN NOT AS STRONG AS WANTING TO BE SEEN EVEN THOUGH THEY ARE SEEING VOLUMES INCREASE IN TERMS OF OVERALL PAYMENT PROCESSING. TOO MUCH WHITE LABELING.
MORE OF THE PAYPAL PAYMENTS GOING FORWARD. THIS IS BLOOMBERG. OFF BY 6% FULLY AS WE WORRY ABOUT SOFTWARE IN ITS NEW SUV AND WHETHER IT IS LOOKING CLUNKY FOR THE TIME BEING. ED: FROM THE PUBLIC MARKETS TO THE PRIVATE MARKETS, RX THREE HAS RAISED $150 MILLION. FROM ATHLETES AND CELEB DAYS FOR IT SECOND CONSUMER FOCUSED GROWTH EQUITY FUND. COFOUNDED BY AARON RODGERS, VENTURE CAPITALIST AARON ROTH.
WHY ARE ALL OF THE LPS, ATHLETES, ACTORS? >> I THINK THE REASON WE HAVE A LOT OF THESE ATHLETE COMMENCE LIBERTIES AND ACTORS AS LPS, IT PROVIDES ACCESS TO CONSUMER BRANDS ACROSS THE GROWTH SECTOR. WE CAN PROVIDE CAPITAL AND VALUE BEYOND THAT AND MOVE THE NEEDLE AND HELP DRIVE REVENUE TO THESE BRANDS. ED: WHEN YOU LOOK AT PORTFOLIO COMPANIES OR POTENTIAL PORTFOLIO COMPANIES, DO YOU THINK HAVING CELEBRITY BACKING AS AN INVESTOR AT ENDORSEMENT INCREASES THE LIKELIHOOD THAT YOU WILL HAVE SUCCESS AND THEN A SUCCESSFUL EXIT DOWN THE ROAD? NATE: IT DEFINITELY CAN IF THERE IS AN AUTHENTIC RELATIONSHIP. WE DRIVE -- WE STRIVE TO ALIGN OUR DIFFERENT SHED -- DIFFERENTIATED BASE BRANDS, AND AUTHENTIC RELATIONSHIP. YOU CAN SET UP THE DAYS OF WHERE THEY GET PAID TO DO A POST, THEY ARE LONG GONE.
WE TRY TO FOSTER RELATIONSHIPS BETWEEN OUR LP BASE IN OUR BRANDS. CAROLINE: SOME VC'S ICEMAN -- I BEEN SPEAKING TO HAVE SAID THE ONE AREA THEY'RE NOT GOING THERE ARE CONSUMER LED COMPANIES, CONSUMER FOCUSED COMPANIES. BECAUSE OF THE ECONOMY WE ARE IN. WHY IS IT STILL A GREAT HIT PRETTY? NATE: BECAUSE WE HAVE THE ATHLETES AND ENTERTAINERS, IT IS EASY FOR THEM TO GET BEHIND, THEIR PRODUCTS AND BRANDS THEY USE. THE ACTIVE LIFESTYLE, BEAUTY, THEY ARE ALL THINGS THEY CAN FEEL AND TOUCH IN THEIR DAILY LIFE.
WE HAVE SHIFTED THEIR FOCUS FROM HIGH-GROWTH BRANDS TO PROFITABLE BRANDS WITH STRONG FUNDAMENTALS. CAROLINE: TALK TO US ABOUT THE OVERALL VALUATIONS YOU ARE SEEING. A BETTER ENTRY POINT WHEN YOU'RE STARTING HIS CONVERSATIONS. WHERE DO YOU THINK THAT
OPPORTUNITIES ARE AND WHAT IS A DISLOCATED MARKET? NATE: THERE HAS BEEN A HEALTHY RESET IN THE MARKET ACROSS PRIVATE EQUITY. WE HAVE ONLY MADE ONE INVESTMENT OUT OF OUR FUND, WELL-POSITIONED TO TAKE ADVANTAGE AND PROVIDE VALUE TO THESE BRANDS. WE ARE EXCITED BECAUSE IT HAS BEEN A HEALTHY RESET. CAROLINE: AND IN MANY WAYS IT IS NOT BEEN JUST ACROSS TECHNOLOGY COMPANIES AND IN THE PRIVATE MARKETS BUT THE PUBLIC MARKETS AS WELL. A LOT OF THIS IS ABOUT HAVING
TECHNOLOGY AT ITS CORE, A WAY YOU CAN SPEAK TO A MASS CONSUMER BY THE POWER OF SOCIAL MEDIA AND BIG BRANDS THAT HAPPEN TO BE BIG INDIVIDUALS. ED: WHEN YOU ARE MAKING AN INVESTMENT DECISION, DECK HITS HER DESK, DO YOU INVITE ALL OF THE LP IS INVOLVED IN THE ENDORSEMENT TO PARTICIPATE IN THE DECISION OR TO THE PARK AT -- PARTNERS MAKE THE DECISION ON THEIR HALF -- BEHALF? NATE: OUR LPS AND ATHLETES ARE INVESTORS, WE ARE RETURN FOCUSED FIRST. IF THERE IS A NATIONAL ONE, -- NATURAL LINE, WE DO SEE THAT IT IS A BRAND THEY WOULD GET BEHIND. THEY ARE NOT INVOLVED IN THE DAY-TO-DAY INVESTMENT DECISION AND REQUIRED TO DO ANYTHING. BUT THERE IS SOMEONE IN OUR NETWORK WE CAN PROVIDE VALUE TO. ED:
ASHTON TOLD US LAST WEEK, HE RAISED 242 MILLION FOR HIS AI FUND IN JUST FIVE WEEKS. HOW QUICKLY DID YOU RAISE THIS FUND? NATE: ASHTON KUTCHER HAS A STRONG BRAND IN THE INVESTING SIDE, IT DEFTLY TOOK US LONGER SO VERY IMPRESSIVE WHAT HE DID. BUT WE ARE OVERSUBSCRIBED WITH OUR SECOND FUND. CAROLINE:
WHAT ABOUT THE WAYS IN WHICH ARTIFICIAL INTELLIGENCE IS UPENDING EVERY BUSINESS MODEL? IS IT SOMETHING YOU ARE LOOKING AT? NATE: IT IS SOMETHING ALL OF OUR BRANDS ARE GOING TO HAVE TO TAKE A LOOK AT AND HOW THEY CAN INCORPORATE IT INTO THEIR COMPANY. IT IS STILL EARLY DAYS AND SOMETHING WE ARE LOOKING AT AND WILL BE PART OF OUR CONSUMER BRANDS. CAROLINE: NATE RAABE, THANK YOU. VC FIRMS CONTINUE TO TOUT THEIR COMMITMENT TO AI COMPANIES. WE SPEAK WITH A PARTNER OF BESSEMER VENTURE PARTNERS. THIS IS BLOOMBERG. ♪
CAROLINE: TIME FOR OUR THE SEAT READ UP. INVESTMENT FUND PROCESSES EXPLORING DIVESTMENTS FROM THE EMERGING MARKETS FINTECH COMPANY PAY YOU. THEY'RE WORKING WITH BANKAMERICA TO GAUGE INTEREST IN THEIR BUSINESS OUTSIDE OF INDIA, THERE COULD BE AS MUCH AS $10 MILLION IN THE POTENTIAL DEAL. A TAIWANESE BACKUP PRELAW GM -- BACKED BY MERCEDES-BENZ, AND TALKS TO RAISE AS MUCH IS $300 MILLION ACCORDING TO SOURCES. AND THE FINISH COMPANY BEHIND SOME OF THE TRACKING RINGS IS BUYING A STARTUP CALLED PROXY THAT MAKES DIGITAL IDENTIFICATION TOOLS. ED:
LOVING THOSE PRIVATE STARTUP AND VENTURE STORIES FROM AROUND THE WORLD. IT'S WELCOME THE PARTNER WITH VESNA VENTURE PARTNERS. $1 BILLION FOR AI. BUT FROM AN EXISTING FUND. >> WE HAVE LOTS OF FLEXIBILITY WITH OUR EXISTING FUNDS, THE MESSAGE IS CLEAR TO ENTREPRENEURS, WE ARE COMMITTED TO AI AND INVESTMENT IN AI NATIVE FOUNDERS.
CAROLINE: TELL US HOW YOU SORT THIS. WE HAD MANY VC COME ON IN SAYING THERE WAS OPPORTUNITY TO WRITE CHECKS BUT NOT ALL OF THE COMPANIES ARE AS STRONG AS THE OTHER. HOW DO YOU UNDERSTAND THEIR DOINGS IN THE FOUNDATIONAL WITHIN AI? >> THAT IS FUNDAMENTAL TO OUR JOB, TO BE ABLE TO SORT THOSE.
I HAVE BEEN IN SOFTWARE FOR 28 YEARS, SERVED AS CEO OF TWO COMPANIES, JOINT VENTURE CAPITAL RECENTLY BUT I HAVE SEEN THE SEMINAL MOMENTS IN TECHNOLOGY HISTORY WHERE IT BECOMES CLEAR TO THE MAINSTREAM THAT WE HAVE MADE A TECHNICAL LEAP FORWARD AND EVERYTHING ABOUT LIFE AND WORK WILL BE DIFFERENT. WE SAW IT WITH NETSCAPE IN 95, THE IPHONE MOMENT WITH JOBS IN 07. THERE IS NO QUESTION IN MY MIND THAT WE WILL LOOK BACK AT NOVEMBER 30 22 AND SAY THAT WAS THE CHAT GPT MOMENT. EVERYTHING ABOUT THE FUTURE IS GOING TO BE DIFFERENT. IN GREAT WAYS. I THINK INCUMBENT ON US AS VENTURE CAPITALISTS, IF I TAKE THE NETSCAPE EXAMPLE, THE FIRST I LIVED THROUGH, WE NEED TO FIND THE NEXT JEFF BEZOS. I KNOW HE OR SHE IS OUT THERE AND WE WOULD LOVE TO TALK TO HER.
WE HAVE TO BE ABLE TO SORT THE JEFF BEZOS FROM NEXT WEB FAN. IT IS HARD TO DO BUT WE ARE EXCITED AND WE WANT TO SIGNAL TO THE MARKET GOT $1 BILLION OF CAPITAL TO DEPLOY INTO THIS NEW BREAKTHROUGH WE THINK IS GOING TO CHANGE THE WORLD. CAROLINE: LOOKING AT THE PORTFOLIO, JASPER, THERE ARE DISCUSSIONS ABOUT WHETHER BIG TECH OR GARDENS WILL WIN OUT. EVERYONE IS TALKING ABOUT OPEN AI AND THE RELATIONSHIP WITH MY--MICROSOFT. THE COMPETITION WITH GOOGLE. MANY ARE TALKING ABOUT OPEN SOURCE. WE ARE SEEING HOW THE IMPACT. WHAT DO YOU THINK ABOUT THE
DICHOTOMY? SAMEER: WE WILL SEE CONTINUED INNOVATION AT ALL LAYERS. OPEN-SOURCE, IF YOU WERE TO ASK ME AS A BETTING MAN, THAT SHOULD BETTING MAN, THE FOUNDATION MODEL WOULD SEE A REDUX OF THE CLOUD WARS WHERE BIG TECH PROVIDES THE BIGGEST PLATFORMS. BUT YOU WILL ALSO SEE OPEN-SOURCE SOLUTIONS, VERTICAL SOLUTIONS THAT ARE SMALLER, LLM'S TRAINED TO SOLVE A PARTICULAR PROBLEM SET. IN A GIVEN VERTICAL INDUSTRY. THEN OF COURSE AT THE APPLICATION LAYER, YOU ARE GOING TO SEE THE CREATIVITY OF THE WORLD'S ENTREPRENEURS UNLEASHED AND PROBLEM SOLVED IN NOVEL WAYS. THERE WILL BE THOUSANDS OF THOSE SOLUTIONS.
THIS IS ONE OF THOSE MOMENTS WHERE I WOULD SAY TRILLIONS OF DOLLARS OF MARKET CAP WILL BE CREATED FROM THIS MOMENT. I SAY THAT NOT BECAUSE MY CRYSTAL BALL IS CLEARER THAN ANYONE ELSE'S, BUT I AM A STUDENT OF HISTORY AND I HAVE LIVED 28 YEARS THROUGH THE PREVIOUS PLATFORM SHIFTS AND EVERY OTHER PLATFORM SHIFT HAS LED TO THAT LEVEL OF INNOVATION, CREATION AND MARKET VALUE CREATION. ED: WHICH AREAS ARE YOU PULLING BACK OR HITTING PAWS ON SO YOU CAN COMMIT? SAMEER: THE FUN THING ABOUT AI INVESTMENTS AS IT IS NOT A CATEGORY. IT IS GOING TO BE EMBEDDED
EVERYWHERE. THERE ARE AI NATIVES WHO WILL INVEST DEEPLY AND THAT IS WHAT THIS IS ABOUT. EVERY ONE OF OUR PORTFOLIO COMPANIES HAVE HEARD THE MESSAGE, HOW ARE YOU ADOPTING AND RETHINKING YOUR SOLUTIONS IN THE CONTEXT OF THIS TECHNICAL LEAP FORWARD? WE ARE SEEING IT EVERYWHERE. I BELIEVE WE WILL CONTINUE TO
INVEST MEANINGFULLY BEHIND ALL OF THE PLACES WE HAVE HISTORICALLY. VERTICAL, HORIZONTAL SASS. CYBERSECURITY, HEALTH CARE. YOU INVEST BEHIND CRYPTO, WE'VE GOT A. I BELIEVE CRYPTO AS WELL. ALL OF THESE CATEGORIES WILL FUNDAMENTALLY ADOPT AI. IT IS A GREAT NEW CAPABILITY. ED: PSYCHOLOGICALLY AND MECHANICALLY, IS THE TIMELINE FOR EXIT DIFFERENT FOR NAI COMPANY OR AI ADJACENT COMPANY OR A NATIVE AI COMPANY, AND THE TYPE OF EXIT? >> I WOULD SAY YES AND I THINK IT IS FASTER. COMPANIES I HAVE INVESTED IN SO FAR AS AN EXAMPLE, JASPER AND DEEPL, ARE TWO OF THE FASTEST-GROWING COMPANIES I'VE SEEN IN 28 YEARS.
THE ROCKET SHIPS, THE ADOPTION, THEY SOLVE A REAL PROBLEM FOR CUSTOMERS. THEY EACH HAVE TENS OF THOUSANDS OF PAYING BUSINESS CUSTOMERS ALREADY. SO I THINK WE WILL SEE EXITS EVEN FASTER.
I THINK THESE ARE IPO WORTHY COMPANIES. THE KIND OF EXITS WILL BE THE SAME. THAT I THINK THEY WILL BE FASTER THAN WE HAVE SEEN IN THE PAST. CAROLINE: YOU JUST MENTIONED CRYPTO. WE HAVE SEEN NOT ONLY A TALK OF
A HYPE CYCLE BUT ALSO TALK OF LACK OF REGULATION. HOW ARE YOU SEEING AROUND CORNERS? YOU SAID THE CRYSTAL BORROW -- STILL BALL IS NOT AS GOOD AS OTHERS BUT I THINK IT IS BECAUSE YOUR ABC. WHAT ELSE ARE YOU SEEING WITH THE RACE FOR AI BEING CERTAIN AND SAFE? SAMEER: I THINK THE HYPE AROUND AI IS UNDER HYPED EVEN THE IMPACT IT WILL HAVE ON THE WAY WE WORK AND LIVE. IN TERMS OF REGULATION, IN MY EXPERIENCE IN BUSINESS, IT IS SO UNCOMMON FOR ME TO SEE ALL PARTIES AGREE THAT REGULATION IS NEEDED. THEY WANT TO COLLABORATE ACROSS FOUNDERS, TECHNOLOGISTS, ETC.. THE INDUSTRY AS A WHOLE -- IT WILL BE GOOD FOR EVERYBODY.
WHERE I AM FOCUSED IS THE AMAZING TECHNICAL LEAP FORWARD AND SOLVE THINGS IN HEALTH CARE, IN INDUSTRIES AND EDUCATION THAT COULD BE GAME CHANGING FOR US AS HUMANS ACROSS THE WORLD. ED: THE HUMBLE OPINION OF SAMEER DHOLAKIA. CAROLINE: COMING UP, THE SEXY WORLD OF VEHICLE INSPECTION. YOU THE I IS RAISING HUNDRED MILLION DOLLARS IN A NEW ROUND.
THE MERE -- AMIR HEVER WILL BE WITH US. ED: LUCID MOVING TO THE DOWNSIDE, SOFTER BY 8% ON THE SESSION. THEY HAD A PREVIOUSLY GUIDED RANGE OF 10,000 UNITS FOR THE YEAR. THEY HAVE RESTATED THAT TOWARD THE LOW END. 10,000 SUPPLY-CHAIN TROUBLES, PRODUCTION TROUBLES ONGOING. NOT A LOT OF POSITIVE NEWS. CAROLINE: UBI HAS RAISED $100 MILLION FROM INVESTORS, INCLUDING GENERAL MOTORS, CARMAX.
AND THEY ARE USING ARTIFICIAL INTELLIGENCE FOR VEHICLE INSPECTIONS. THE PERSON WHO CAN EXPLAIN HOW, CEO AND COFOUNDER AMIR HEVER. I DRIVE IN AND YOU UNDERSTAND WHAT IS WRONG? HOW DOES THIS WORK? A MIR: THINK OF US LIKE AN MRI FOR THE VEHICLE. YOU DRIVE THROUGH AND WE ARE
ABLE TO UNDERSTAND THE FULL CONDITION OF THE VEHICLE. WE ARE TAKING IMAGES OF THE TIRES, THE UNDERCARRIAGE, THE EXTERIOR SO IF YOU HAVE LEAKAGES, EXPIRED TIRES, AND ISSUES OF WEAR AND TEAR, WE ARE ABLE TO FIND OUT EVERYTHING. ED: GM DID PARTICIPATE THROUGH THE VENTURE ROUND. I THOUGHT WE WOULD USE THAT AS
A CASE STUDY. DO YOU DO BUSINESS WITH GENERAL MOTORS? WHAT IS IT THAT YOU SELL TO THE AUTOMAKERS OR THE SERVICE SHOPS? AMIR: WE HAVE A FEW PARTNERS. WE WORK WITH GENERAL MOTORS ON DEALERSHIPS TO BE ABLE TO SERVICE THEIR QUESTION -- CUSTOMERS BETTER. IT IS IMPORTANT TO GET A BETTER POST -- BETTER CUSTOMER EXPERIENCE WHILE SUMMIT IS DRIVING TO THE DEALERSHIP, EXPOSING THE ISSUES AND UNDERSTAND THE FULL CONDITION OF THE VEHICLE. WE ARE WORKING WITH THEM BUT WE ALSO HAVE MORE PARTNERS LIKE CARMAX AND VOLVO, THEY HAVE INVESTED IN NO SIN THE PREVIOUS ROUND. WE ARE WORKING WITH THEM AS WELL. ED:
WE BROKE REPORTED THE DEAL VALUED UBI AT AROUND $800 MILLION. HOW DIFFICULT WAS IT TO RAISE THE FUNDS IN THIS ENVIRONMENT FROM THOSE PARTNERS AND WERE YOU WANTING TO HIT UNICORN STATUS? AMIR: WE ARE FOCUSING ON BUILDING VALUE. SAMEER SPOKE ABOUT BRINGING VALUE TO CUSTOMERS AND THIS IS WHAT WE ARE DOING. WE ARE WORKING WITH ALL OF OUR PARTNERS TO MAKE SURE THAT OUR PRODUCTS BRING VALUE NOT ONLY TO OUR CUSTOMERS BUT ALSO THEIR CUSTOMERS.
THIS IS WHAT IS IMPORTANT AND WHY WE ARE STILL ABLE TO RAISE A LOT OF MONEY, ESPECIALLY NOW, WHICH IS SLIGHTLY HARDER IN TERMS OF EVERYTHING GOING ON WITH THE ECONOMICS. ED: THEY DESCRIBE IT AS AN MRI MACHINE FOR VEHICLE INSPECTION, BUT REALLY THIS IS A STORY ABOUT ARTIFICIAL INTELLIGENCE. CAROLINE I'M INTERESTED TO THAT END. HOW DO SAY THAT THIS IS AN ARTIFICIALLY INTELLIGENT -- AT ITS FOUNDATION LEVEL, COMPANY? YOU ARE RUNNING AT THEIR IMAGES TO UNDERSTAND WHETHER THE TIRES OR OTHER PARTS ARE LOOKING GOOD, BUT HOW DO YOU PROVE TO THE INVESTOR BASE THAT YOU HAVE NOT JUST TACKED ON AI TO MAKE YOURSELF SEXY? AMIR: WE ARE SHOWING THE INVESTOR HOW IT REALLY WORKS. WE ARE ABLE TO REALLY FIND ALL OF THE ISSUES AT THE VEHICLE. HOW DO THINGS WORK IN THE BACK,
WE ARE ABLE TO DRIVE THE VEHICLE INTO DIFFERENT PARTS, WE ARE ABLE TO FIND THINGS QUICKLY. THESE ARE IMPORTANT TO OUR INVESTORS TO MAKE SURE WE HAVE A STRONG FOUNDATION OF MODELS AND NAI BASED MODELS THAT CAN WORK FOR EVERY VEHICLE, EVERY TYPE OF VEHICLE AND ANY CONDITION OF THE VEHICLE. THIS IS IMPORTANT FOR THE STRENGTH OF THE EFFORT -- OF THE AI BECAUSE IT HELPS US TO SUPPORT THINGS WE HAVE NOT SEEN BEFORE. IF THERE IS A NEW VEHICLE, WE HAVE NOT SEEN IT BEFORE AND WE ARE STILL ABLE TO FIND MOST OF THE DAMAGES ON THAT, EVEN WHEN WE DID NOT SEE THE SPECIFIC TYPE OR MODEL AFTER THE VEHICLE. IT IS THE STRENGTH OF WHAT WE ARE BUILDING. CAROLINE: YOU CAME FROM ISRAEL. WHERE IS TECH TALENT? AMIR:
IN JERSEY AND OHIO, WE ALSO HAVE AN OFFICE IN ISRAEL. WE ALSO HAVE OFFICES IN GERMANY AND THE U.K.. ED: WHERE WILL YOU BUILD AND MANUFACTURE THE SYSTEMS IN NORTH AMERICA? >> WE ARE MEN FACTORING IN INDIANAPOLIS AND THAT HAS HELPED US TO SCALE QUICKER AND SCALE MORE SHIP MORE TO OUR CUSTOMERS. ED: THANKS TO THE CEO AND COFOUNDER
OF UBI. THAT DOES IT FOR THIS EDITION OF "BLOOMBERG TECHNOLOGY". STAY WITH BLOOMBERG TELEVISION BECAUSE WE ARE SPEAKING TO THE CEO, MICHAEL WHO IS ME AND MATT MILLER AND JOHN IN THE NEXT HOUR ON BLOOMBERG TV. CAROLINE: TWO POWER PEOPLE THAT LOVE ALL THINGS AUTO. DO NOT FORGET TO CHECK OUT OUR PODCASTS.
YOU CAN FIND ON THE TERMINAL. ON APPLE, SPOTIFY, WHEREVER YOU LIKE TO CONSUME AUDIO. GET YOUR AI FIX. FROM NEW YORK AND SAN FRANCISCO, THIS IS BLOOMBERG. ♪
2023-05-12 21:41
