'Bloomberg Technology' Full Show (06/01/2023)

'Bloomberg Technology' Full Show (06/01/2023)

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>> FROM THE HEART OF FOR INNOVATION, MONEY AND POWER COLLIDE IN SILICON VALLEY AND BEYOND, THIS IS "BLOOMBERG TECHNOLOGY" WITH CAROLINE HYDE AND ED LUDLOW. CAROLINE: I AM CAROLINE HYDE. ED LUDLOW IS ON ASSIGNMENT AND JOINS US SHORTLY. THIS IS "BLOOMBERG TECHNOLOGY." WE WILL BREAK DOWN EARNINGS FROM SALES VOICE THAT DISAPPOINTS. LET'S STICK ON AI WITH THE HERE AND NOW.

WE GO LIVE TO PALO ALTO, CALIFORNIA, WHERE ED LUDLOW IS SITTING DOWN WITH AN EXCLUSIVE CONVERSATION WITH A CEO. WE WILL HAVE MORE ON ARTIFICIAL INTELLIGENCE. HOW IT IS REPLACING OUR JOBS AND HOW AI IS REPLACING OURSELVES. LET'S CHECK IN ON THE MARKETS. 1% HIGHER ON THE NASDAQ. WE ARE SEEING RELIEF, WHETHER IT IS THE DEBT CEILING AGREEMENT, WHETHER IT IS ABOUT THE FED SPEAK IS ABOUT AT THE MOMENT.

SOME KEY PLAYERS TALKING ABOUT A PAUSE COMING. UP FOR THE NEXT MEETING. WE ARE LOOKING FORWARD TO THE JOBS DATA.

THE NUMBERS LOOKING STRONG EVEN THE MANUFACTURING DID JUST EASE OFF. THE GOLDEN DRAGON CHINA INDEX SHOWING HOW CHINESE COMPANIES ARE PERFORMING. RALLYING, UP 4.5%. WE ARE SEEING A TWO YEAR YIELD DOWN BY SOME SIX BASIS POINTS.

LET'S MOVE ONTO TO THE WORLD OF CRYPTO. WE SEE THE DOLLAR BEING DROWNED -- DRAWN DOWN BUT SO IS CRYPTO. NOT MUCH DESIRE TO GET INTO THIS PARTICULAR RISK ASSET EVEN ON A DAY WE ARE MORE OPTIMISTIC ABOUT THE DEBT CEILING. INDIVIDUAL COMPANIES, LOOKING AT WHAT IS HAPPENING WITH THE LIKES OF SALESFORCE, UP 4.5%. 10% GROWTH IS NOT ENOUGH FOR THE INVESTOR BASE. WE SAW MORE OF CONCERN ABOUT

THAT NUMBER. C3AI BIG DRAG, DOWN 11%. THE FORWARD-LOOKING GUIDANCE NOT LIVING UP TO EXPECTATIONS. THIS COMPANY IS SIGNALING THAT

COULD SEE 20% GROWTH ALTHOUGH THE -- MORE TRIALS, MORE LANDED, SOME DEALS. BLOOMBERG INTELLIGENCE SAYING THERE IS CONTINUING CONCERN TO MAKE THIS GENERATE REVENUE, NOT JUST HYPOTHESIS. A LOT OF SHORTS ON THIS STOCK, 30% ON THE OPEN MARKET. NVIDIA UP A HEALTHY 4.3%. STILL AT THE $900 MILLION -- $900 BILLION I SHOULD SAY.

PEOPLE WONDERING ABOUT COMMUNICATION WITH CHINA AND WHERE THE CEO LANCE NEXT. WE WILL TALK SO MUCH MORE ABOUT AI. WE ARE WELCOMING TO AN AUDIENCE WHAT WE WILL BE DISCUSSING THE FUTURE OF AI, THE LIKES OF ONE KEY EXECUTIVE THE ONES TO TAKE THE WHOLE MARKET. I WANT TO WELCOME OUR BLOOMBERG

TV AND RADIO AUDIENCES. WE WANT TO SEND IT OVER TO ED LUDLOW WHO HAS AN EXCLUSIVE INTERVIEW WITH THE CEO OF PELLETIER. ED: WE ARE JOINED BY ALEX KARP, THE CEO OF PELLETIER. TO TALK WITH CUSTOMERS ABOUT

SOME OF WHAT YOU TOLD US THREE WEEKS AGO. THREE WEEKS AGO YOU SAID PELLETIER'S PLAN FOR AI WAS TO TAKE THE WHOLE MARKET. HOW IS THAT GOING? ALEX: UNLIKE MOST PEOPLE, WE HAVE BEEN INVOLVED IN AI FOR THE LAST 5, 6, 7 YEARS, BUILDING SYSTEMS THAT WILL ALLOW YOU TO IDENTIFY ADD MATERIAL POSITIONS. YOU CAN WORK WITH LARGE LANGUAGE MODELS, SECURELY ENHANCE THEM, ROLL THEM ACROSS YOUR ENTERPRISE. I HAVE BEEN AT THIS FOR ABOUT 20 YEARS AND I KNOW IT WILL TAKE EVERYONE ELSE ABOUT FOR FIVE YEARS TO BUILD THIS. OUR CUSTOMER BASE IS LARGE. USUALLY WE HAVE TO GO OUT AND

FIND PEOPLE. NOW WE HAVE CUSTOMERS IN THE U.S. CALLING US EVERY DAY. ED: YOU SAID DEMAND IS HUGE. CAN YOU QUANTIFY IT? ALEX: WE HAVE HAD A NUMBER OF INBOUND CALLS IN A YEAR AND A MONTH. WE ARE AT A CONFERENCE. IF YOU GO NEXT-DOOR, THERE ARE CUSTOMERS SHOWING POTENTIAL CUSTOMERS HOW TO USE OUR PRODUCT. ED: IN THE DEMO SENSE?

ALEX: IT IS ALL REAL DATA. THINGS THEY HAVE DONE. THE WORLD IS HUNGRY FOR SOMETHING IT UNDERSTANDS AS AI. WE HAVE CUSTOMERS USING OUR PRODUCTS, SHOWING OTHER CUSTOMERS HOW TO DO IT. IT IS LIKE YOU RELEASE A SONG AND EVERYONE IS PLAYING IT. GREAT. WE ARE VERY HAPPY. THE U.S. MARKET IS HUNGRY FOR INNOVATION.

IT IS HUNGRY FOR THINGS THAT IS BEGINNING TO UNDERSTAND IT NEEDS. ABILITY TO ENHANCE THE OUTPUT OF A LARGE LANGUAGE MODEL. WHAT IS THE OUTPUT? BETTER MARGINS, BETTER SAFETY. YOU CAN CHANGE YOUR ENTERPRISE.

ED: I WANT TO JUMP IN AND ASK A VERY BASIC QUESTION. AIP, IS IT BUILT ON GPT4? WHERE IS THE UNDERLYING TECH? ALEX: WE ARE AGNOSTIC TO WHATEVER LARGE LANGUAGE MODEL YOU WANT TO USE. THEY HAVE CERTAIN ATTRIBUTES. THEY CAN GIVE YOUR REASONING. YOU CANNOT IMPORT THAT INTO YOUR ENTERPRISE. YOU COULD HAVE THE BENEFITS OF A LARGE LANGUAGE MODEL AND ENHANCE THEM WITH ALGORITHMS. YOU GET ALL THE EFFORTS OF A

LARGE ANGUISH MODEL IN YOUR ENTERPRISE TODAY. NOT IN FIVE YEARS. NOT SOMETHING THAT WRITES POETRY. WE ARE NOT OFFERING PEOPLE POETRY WRITING IN THEIR ENTERPRISE.

WE ARE OFFERING THINGS THAT ARE SO POWERFUL THAT IN REALITY WE SHOULD NOT SELL THIS TO SOME OF OUR CLIENTS. ED: WHO ARE THOSE CLIENTS? PROPORTIONATELY WE THINK ABOUT A MAN, HOW MUCH IS COMING FROM THE DEFENSE USE CASE? ALEX: WHAT IS DRIVING DEMAND FOR OUR PRODUCT IS SIMPLY WHAT PEOPLE HAVE SEEN ON THE BATTLEFIELD. THAT IS VERY SENSITIVE AND VERY CLASSIFIED. THE DEMAND FOR THAT IS VERY LARGE AND IT WILL GET LARGER. AMERICA IS THE BEST AT SOFTWARE. SOFTWARE IS IN HIGH DEMAND IN DEFENSE.

UNTIL TWO YEARS AGO, EVERYONE. THIS WAS A JOKE. DEADLY SYSTEMS HAVE CHANGE THE COURSE OF HISTORY. IT IS NO LONGER A MADMAN SAYING THIS. YOU SEE IT ON THE BATTLEFIELD. U.S.

COMMERCIAL INDUSTRY IS THE MOST ADAPTIVE IN THE WORLD AND OUR CLIENTS ARE HUNGRY FOR THINGS THAT WILL GIVE THEM AN ADVANTAGE ON MARGINS, SAFETY, SECURITY USE, MAKING SURE THIS IS NOT SOME POETRY RE-CREATING WHAT SOMEBODY SAID. IT CAN CREATE ACTUAL TANGIBLE DIFFERENCE. WE ARE ROLLING IT OUT AND WE ARE HAPPY. ED: FOR OUR GLOBAL BLOOMBERG AUDIENCES, WE ARE JOINED BY THE CEO OF PALANTIR, ALEX KARP. DURING THE EARNINGS CALL YOU

SAID WE HAVE NO PRICING STRATEGY. WE WILL CREATE A LOT OF VALUE. WE WILL GET HUNDREDS OF CUSTOMERS AND WE WILL PRICE IT AS WE GO. HAVE YOU MADE ANY PROGRESS ON PRICING STRATEGY? ALEX: NO. ED: YOU ARE SO RELAXED ABOUT IT. ALEX:

WHEN YOU GO TO A BAR, DO YOU HAVE A PRICING STRATEGY? NO. YOU ARE COOL. I KNOW WE HAVE THE BEST ON THE MARKET. I KNOW CUSTOMERS WILL PAY US FAIRLY. THIS IS MUCH MORE VALUABLE THAN ANYONE WILL UNDERSTAND UNTIL THEY INSTALL IT.

I BELIEVE IN OPTIMIZATION. WE WILL CREATE A LOT OF VALUE AND GET SOME PORTION OF THAT VALUE AND CUSTOMERS ARE SMART. THEY WILL PAY YOU SOME PORTION OF THE VALUE. IF YOU HAVE A SOFTWARE PRODUCT YOU ALWAYS WANT TO GET PAID AFTER YOU DELIVER VALUE. IF YOU HAVE A POWERPOINT OR SOMETHING NOT VALUABLE, YOU WANT TO GET PAID BEFORE YOU CREATE VALUE. WE KNOW IT IS MUCH MORE VALUABLE THAN PEOPLE UNDERSTAND. WE WILL CONTINUE TO AUGMENT THE

VALUE AND GET PAID ALONG THE WAY. ED: DOES IT CONSIDER HOW MUCH YOU HAVE INVESTED? ALEX: WE HAVE ALREADY INVESTED BILLIONS OVER THE LAST 20 YEARS. WE ARE BASICALLY SO WE GET TOGETHER AND ADDING THINGS ON TOP OF IT. WE KNOW WE HAVE THE IP, WE ARE

CERTAIN OF THE VALUE. IF I COME TO YOU AND SAY I AM CERTAIN THIS IS VALUABLE, PAY ME $10 MILLION. WHAT WOULD YOU SAY? ED: I DON'T HAVE $10 MILLION. ALEX: GIVE ME YOUR BRITISH CHARM. ED:

BY BRITISH CHARM IF I WAS A CUSTOMER WOULD SAY THIS IS A REALLY HARD ENVIRONMENT. CUSTOMERS ARE LOOKING FOR VALUE OF THE LOWEST PRICE. ALEX: IF I BELIEVE IT IS THE BEST PRODUCT IN THE WORLD YOU SAY GREAT. TELL ME HOW MUCH VALUE TO

CREATE. IF YOU DON'T WANT TO PAY ME, I WILL GO TO SOMEONE ELSE WHO WILL. YOU CAN HAVE DIFFERENT MARGINS. YOU CAN HAVE A DIFFERENT SAFETY PROFILE. YOU CAN HAVE A DIFFERENT ABILITY TO CONTROL YOUR WHOLE BUSINESS FROM YOUR LAPTOP BECAUSE THE PERSON WHO VALUED IT PAID ME. ED:

ALEX KARP, CEO OF PALANTIR TECHNOLOGIES. THE BEAR CAVE GOT A NEGATIVE REPORT. LET ME JUST READ ONE OF THE CLAIMS. THE BEAR CAVE BELIEVES PALANTIR IS AN AI IMPOSTER ENGAGING IN GAMES TO INFLATE ITS BOOKS AND OBFUSCATE ITS LESS SEXY ROLE. ALEX: THE BEAR CAVE IS THE BEAR CAVE. THEY CAN STAY IN THEIR BEAR

CAVE. WE ARE PROFITABLE COMPANY AND HAVE THE BEST PRODUCTS ON THE MARKET. THAT IS WHERE THEY ARE PROFITABLE AND WE WILL WIN. ED: I WANTED TO GIVE YOU THE CHANCE TO RESPOND. THAT IS ALL.

YOU HAVE EXPERIENCE IN MANAGING SENSITIVE, CLASSIFIED, OFTEN, DATA NETWORKS OR CLOSE NETWORKS. HOW DOES THAT WORK IN THE TRAINING OF THE LLMS GOING INTO AIP. IS IT DIFFICULT WHEN YOU HAVE THAT KIND OF RESTRICTION? ALEX: IT IS A VERY IMPORTANT TECHNICAL QUESTION. TO USE LLMS AT SCALE, YOU HAVE TO HAVE SOMETHING LIKE A DATA MODEL THAT TRAINS THE DATA MODEL AND ACCESS CONTROL. THOSE PRODUCTS TAKE DECADES TO BUILD, WE HAVE THEM. IF YOU HAVE THOSE PRODUCTS, YOU CAN SEGMENT IN REAL-TIME -- THEY ARE ALREADY PART OF OUR CORE FIVE. THEY ARE PART OF PG.

WE ROLL THEM OUT TO OUR CURRENT CUSTOMERS. MANY OF OUR CUSTOMERS HAVE NOT NEEDED TO USE THEM, NOW THEY DO. WHY? IN ANY ENVIRONMENT, YOU WILL HAVE DATA AND INSIGHTS YOU WILL NOT SHARE WITH A LARGE LANGUAGE MODEL. YOU WILL HAVE SOME YOU WANT TO SHARE AND NEED A HYBRID. ONE OF THE THINGS WE BUILT OVER

THE LAST 10 YEARS RANDOMLY BECAUSE WE THOUGHT IT WOULD BE VALUABLE SOMEDAY IS THAT. ED: FOR OUR BLOOMBERG RADIO AND TELEVISION AUDIENCES WORLDWIDE, WE ARE WITH DR. ALEX KARP, THE CEO OF PALANTIR. YOU HAVE DEEPENED YOUR ACTIVITY

IN UKRAINE. USING AI IN ONE CASE TO HELP WITH RECONSTRUCTION. JUST EXPLAINED THE WORK. ALEX: MY REAL ANSWER IS ASK THE RUSSIANS. ED: WHAT DO YOU MEAN BY THAT? ALEX: ASK UKRAINIANS, ASKED PEOPLE ON THE BATTLEFIELD. THE EFFECTIVENESS OF OUR PRODUCT.

THERE IS VERY LITTLE WE CAN SAY. YOU CAN READ WHAT THE UKRAINIANS SAY THEY USE. TARGETING ACCORDING TO REPORTS HAS GONE UP, GIVEN THE USE OF AI PRODUCTS, POTENTIALLY OURS, BY 20X TO 50X. THESE HAVE CHANGED THE COURSE OF HISTORY AND WILL CONTINUE TO CHANGE THE COURSE OF HISTORY. ED: DO WE ALREADY HAVE IN THE MILITARY USE CASE AN ARMS RACE BETWEEN POWERS LIKE U.S., RUSSIA AND CHINA. ALEX: YES AND WE HAVE AN ADVANTAGE. IF WE DO NOT GET ON HER OWN WAY

-- ED: WHEN YOU SAY WE, WHAT DO YOU MEAN? ALEX: AMERICA HAS THE BEST SOFTWARE COMPANIES IN THE WORLD. THEY COME FROM. A SLIVER OF AMERICA. WE NEED TO GET TO A POINT WHERE 1% OF OUR SPENDING ON DEFENSE GO TO PRODUCTS THAT HAVE BEEN PROVEN ON THE BATTLEFIELD, NOT POWERPOINTS. IN THE LARGE LANGUAGE MODEL, IN AI, WE ARE FAR AHEAD.

COLLET A YEAR OR TWO. PART OF THE DEBATE IS THESE THINGS ARE VERY DANGEROUS. IF WE DID NOT HAVE VICIOUS ADVERSARIES, WE SHOULD SLOW IT DOWN BUT WE DO. WE HAVE A LOT OF PEOPLE WHO DO NOT WANT TO ROLL THIS OUT BECAUSE THEY HAVE NOTHING TO ROLL OUT.

THE DEBATE MACHINE IS PARTLY FOR LEGITIMATE REASONS BECAUSE THIS COULD BE DANGEROUS. PARTLY FOR SECURITY REASONS, AS YOU BROUGHT UP. HOPEFULLY SOMEDAY THERE WILL BE OTHERS. THERE IS ALSO THE DEBATE MACHINE BECAUSE THERE ARE ONLY THREE OR FOUR COMPANIES IN THE WORLD WITH ANYTHING TO SELL. EVERYONE ELSE WANTS TO DEBATE AND TALK ABOUT THIS IN FIVE YEARS. THAT PLAYS INTO OUR ADVERSARY'S

HANDS. ED: A LONG TIME CONCERNED THAT CAME UP 24 OR 48 HOURS AGO WAS AN EXISTENTIAL THREAT. YOU TALK ABOUT ENDING AI TO COLLECTIVE WILL. DO YOU SHARE THE CONCERN ABOUT AN EXTINCTION EVENT? ALEX: THERE IS A LOT GOING ON. ARE THESE THINGS DANGEROUS?

COULD THEY BECOME POTENTIALLY DANGEROUS? YES. WHAT THESE DEBATES IGNORE IS EITHER WE WILL WILL THEM OR OUR ADVERSARIES WILL WIELD THEM. IT IS MUCH BETTER THAT WE WIELD THEM THAT OUR ADVERSARIES DO NOT RESPECT THE RULE OF LAW AND HOW WE WANT TO LIVE IN FREEDOM. THAT IS POINT 1. POINT 2, IN THE NEAR TERM WHAT PALANTIR WILL ALLOW YOU TO DO IS MAKE THESE REALLY, REALLY VALUABLE IN COMMERCIAL AND MILITARY CONTEXT. IF YOU DO NOT BUY OUR PRODUCT,

THE COMPETITION WILL. IN THE MILITARY CONTEXT WE HAVE TO DO IT BECAUSE OUR ADVERSARIES WILL BUILD THOSE PRODUCTS. ED: I WANT TO TALK TO YOU ABOUT C3 AI AS AN EXAMPLE. ALEX: THIS IS A MASSIVE MARKET. WE DO NOT COME UP WITH BIDDING PROCESSES. ED:

YOU DO NOT HAVE ANY COMPETITION? ALEX: LET ME TELL YOU ABOUT THIS COMPETITION THING THAT WALL STREET ANALYSTS LOVE. IT IS COMPLETE BS. TRY WHAT WE ARE DOING AND WHAT EVERYONE ELSE IS DOING AND BUY THE THING THAT CREATES THE MOST VALUE. ED: ON AN INCIDENT MARKET THERE WAS A RESEARCH REPORT THAT SAYS JANITOR AI IS A MARKET WILL BE $1.3 TRILLION IN 2032 INVOLVING COMPOUND ANNUAL GROWTH OF 40% PER YEAR. DO YOU SEE THAT? BASED ON THE MARKETS YOU OPERATE IN. ALEX: THESE EXPERTS JUST MAKE STUFF

UP. THIS IS A LARGE, BASICALLY IMPOSSIBLE TO MEASURE MARKET. WHAT WE ALSO KNOW IS EVERYONE IN THE U.S. WILL FIND WAYS TO BECOME MORE EFFICIENT AND BETTER AT USING SOFTWARE AND A LOT OF THAT SOFTWARE WILL BE AI-DRIVEN. THE MARKET, OVER TIME WILL END UP PICKING THE BEST PRODUCTS.

THAT IS WHAT WE KNOW. ED: IN THE UNITED KINGDOM, MY HOME COUNTRY, THE FT IS REPORTING THAT WITHIN THE NHS THERE IS CONCERN ABOUT DEEPENING THE DATA RELATIONSHIP WITH PALANTIR. WHAT WOULD BE YOUR ANSWER TO THOSE CONCERNS? ALEX: OUTSIDE OF AMERICA AND IN THE U.K. THERE ARE LEGITIMATE QUESTIONS THAT GET ASKED. WHERE WILL THE DATA GO? WHO TOUCHES IT? DOES IT GET EXPORTED TO THE U.S.?

CAN WE VERIFY HOW IT WAS USED? CAN WE MAKE SURE THE UNDERPRIVILEGED PEOPLE OF THE U.K. GET THE SAME TREATMENT AS THE PRIVILEGED PEOPLE, INCLUDING FUTURE TREATMENT, WHICH IS A HUGE ISSUE IN THE U.K.? HOW DO YOU DEAL WITH THE BACKLOG EFFECTIVELY? PALANTIR PROVIDES THE MOST ROBUST, TRANSPARENT SOFTWARE IN THE WORLD WHICH IS WHY WE ARE HAVING AN AI BONANZA. TO MAKE AI WORK, YOU HAVE TO SHOW HOW IT WORKS. HOW DOES IT MAP OUT. THIS IS WHAT YOU HAVE TO SHOW IN A HOSPITAL CONTEXT. WHO HAS WORKED WITH THE PATIENT

AND UNDER WHAT CONDITION? WHAT DOCTOR? WAS THE PERSON FAIRLY TREATED? WE HAVE PROVEN WE CAN DO THIS AS A PRODUCT SAFELY, EFFICIENTLY AND UNDER THE HARDEST CONDITIONS IN THE U.K. AND I REALLY HOPE WE WIN THAT FOR OUR SAKE AND THE SAKE OF OUR U.K. EMPLOYEES AND THOSE WE GREATLY RESPECT.

TRANSPARENCY LEADS TO THE MOST FAIR AND ETHICALLY UNJUSTIFIED OUTCOMES YOU CAN GET. ED: DR. ALEX KARP, CEO OF PALANTIR, THANK YOU FOR HAVING US. BACK TO YOU. CAROLINE: ED, ABSOLUTELY FASCINATING CONVERSATION. AN AI AND ANSWER.

WE WILL HAVE A DEEP DIVE INTO ARTIFICIAL INTELLIGENCE THROUGHOUT THE SHOW. WE WILL BREAK DOWN THE EARNINGS OF C3 AI. DAN IVES, WE WILL GET HIS THOUGHTS ON WHAT IS HAPPENING IN THE FUTURE WITH APPLE.

THIS IS BLOOMBERG. ♪ CAROLINE: LET'S GET BACK TO SOME OF THESE EARNINGS. SALESFORCE, TUMBLING, SIGNALED IT IS NOT GROWING AS FAST AS IT USED TO. SHIFTING FOCUS TO GENERATING HIGHER PROFITS. LET'S GET INTO THE RISK-REWARD. IT WAS A NOTICEABLE DROP. ULTIMATELY, THIS IS A COMPANY DEALING WITH LAYOFFS AND HAVING TO TIGHTEN EXPENSES.

WHY THE SALES SLOW DOWN? >> LAST QUARTER, SALESFORCE SAID WE WILL FOCUS ON PROFIT AND THE MARKETS THAT IT COULD NOT BE MORE EXCITED. THIS QUARTER, THEY GAVE US MORE OF THAT. THE MARKET STARTED SAYING, WAIT A MINUTE, YOU GUYS ARE A GROWTH COMPANY. WE WANT TO SEE FURTHER REVENUE GROWTH. ALMOST ALL OF THE METRICS WERE BEAT. A SLIGHT DECELERATION IN SALES HAS PEOPLE SAYING, ARE THESE COST CUTS GOING TO WEIGH ON THEIR ABILITY TO KEEP GROWING? CAROLINE: IT IS A SIMILAR THEME THAT WE SAW WITH C3.AI.

A COMPANY THAT HAS SIGNIFICANT GROWTH. SALESFORCE WAS THE BEST-PERFORMING STOCK. C3.AI HAS TRIPLED IN ITS MARKET VALUATION AND YET THE GROWTH IS NOT LIVING UP TO EXPECTATION. BRODY: WHEN IT COMES TO C3, IF SALESFORCE IS ONE OF THE BEST IN THE S&P, C3 IS THE BEST PERFORMING STOCK, IT IS UP THREE HUNTER PERCENT. THE BIG QUESTION IS, -- IT IS UP 300%. ARE PEOPLE JUST BUYING THE

TICKER BECAUSE IT SAYS AI? IT RALLIED 300% AND A LOT OF PEOPLE SAID THIS LOOKS LIKE GAMESTOP IN 2021. WHEN THE FIGURES LAST NIGHT CAME AND OTHER THE LIGHT, PEOPLE PANICKED AND SAID, IS THIS HYPE? CAROLINE: YOU ARE SOMEONE WHO HAS BEEN PERHAPS LAYING BEAR SOME OF THE ARGUMENTS WHY IT IS HYPE. SOME GREAT WRITING. WE THANK HIM FOR BRINGING US UP ON THE LATEST ON C3.AI. DAN IVES FROM WEDBUSH, A $50 PRICE TARGET. TALK TO ME ABOUT HOW ARE YOU SEEING THIS COMPANY CAPITALIZE ON ARTIFICIAL INTELLIGENCE? DAN: IN MY OPINION, THEY ARE GOING THROUGH A MODEL TRANSITION. ON THE OTHERS, THEY ARE ON THEIR WAY TO WHAT WILL BE $500 MILLION.

THIS IS AN $800 BILLION MARKET OPPORTUNITY IN TERMS OF AI. DESPITE ALL THE CONTROVERSIES, FROM A PLATFORM PERSPECTIVE, THEY ARE GOING USE CASE BY USE CASE. I THINK THE STOCK RELATIVE TO WHERE IT COULD ULTIMATELY LEAD, WOULD WE BE BUYERS? CAROLINE: IT IS INTERESTING THAT ALEX KARP FROM PALANTIR JUST SAID THIS IS AN INFINITE MARKET BUT I WILL ASK THE QUESTION ANYWAY. SOME OF THE WORRY IS THEY ARE FOCUSED ON OFFERING SERVICES TO ENERGY COMPANIES THAT HAVE GOT DIVERSIFIED SUCCESSFULLY. BLOOMBERG INTELLIGENCE IS WORRIED ABOUT LARGE PLATFORMS. DAN: NO DOUBT. THIS IS A GAME OF THRONES PLAYING OUT IN AI.

ALEX TALKED ABOUT PALANTIR BEING ONE OF THE CORE AI PLAYERS. IN TERMS OF SECOND AND THIRD DERIVATIVE, THERE WILL BE MANY WINNERS. WHEN I LOOK ATC3 IN TERMS OF WHAT THEY BUILT, IT SPEAKS TO THERE BEING MANY COMPANIES. FROM A REVENUE PERSPECTIVE, I THINK THREE OR FOUR QUARTERS FROM NOW WE WILL LOOK BACK AT THIS AS AN INFLECTION POINT RATHER THAN THE START. CAROLINE: IT IS HEAVILY SHORTED AND THERE

HAVE BEEN NOTES COMING FROM SHORT-SELLERS. YOU HINTED AT THE CONTROVERSY. WHAT MAKES YOU CONFIDENT IN THE LEADERSHIP OF THIS BUSINESS? DAN: OBVIOUSLY THE SHORTS HAVE DONE A TON OF WORK. THEY SPENT A LOT OF TIME ON THE STORY. THAT IS WHAT MAKES THE MARKET. IT COMES DOWN TO, CAN THEY

EXECUTE? I BELIEVE IN TERMS OF THE RELATIONSHIPS WITH PLAYERS WITHIN THE BELTWAY, YOU LOOK AT WHAT WAS BUILT. I CAN GO BACK FIVE OR SIX YEARS AGO, MANY THOUGHT THIS WAS SOMETHING THAT WOULD NEVER COME TO FRUITION WHEN THEY WERE PRIVATE. YOU LOOK AT HOW THEY BUILT IT. THEY ARE GOING TO A TRANSITION IN THE CONSUMPTION MODEL. THE NEXT THREE OR FOUR QUARTERS, IT IS AN EXECUTION STORY. WE ARE BETTING IT WILL BE POSITIVE EXECUTION.

ULTIMATELY THIS IS A SITUATION ACROSS AI BECAUSE I BELIEVE IT IS A REVOLUTION. CAROLINE: WE HAVE ONE MINUTE, DAN. MORTAR AND APPLE, ARE YOU EXPECTING MUCH ON MONDAY? DAN: FRONT AND CENTER. AI WILL BE A THEME IN THE KEYNOTE FROM COOK. IT IS ABOUT DEVELOPERS. THERE IS A BATTLE RIGHT NOW, A BATTLEFIELD OF DEVELOPERS, GOOGLE, MICROSOFT AND APPLE. I VIEW THAT AS A KEY OPPORTUNITY TO GO OUT THERE IN TERMS OF BUILDING AI ON THE APP STORE AND START WHAT WOULD BE A MULTI-YEAR MASSIVE GROWTH OPPORTUNITY THAT IS BEING UNDERESTIMATED. CAROLINE:

DAN IVES OF WEDBUSH. THANK YOU FOR ALL THE THOUGHTS. COMING UP, WE HAVE SO MUCH TO TALK ABOUT IN TERMS OF THE APPLICATION OF AI. JP MORGAN, DEUTSCHE BANK ARE SOME OF THE BIG LENDERS INVESTING ON BOOSTING AI IN THEIR FIRMS. MORE ON THAT WHEN WE COME BACK. WE PUSH AHEAD TO FUTURE EARNINGS. BROADCOM EXPECTING SALES TO START SLOWING BUT COULD AI GIVE THE COMPANY A BOOST. REMEMBER IN MAY, THEY HAD THEIR BEST

MONTH EVER, UP 29%. CAROLINE: WELCOME BACK TO "BLOOMBERG TECHNOLOGY." I AM CAROLINE HYDE IN NEW YORK. WE ARE HALFWAY THROUGH THE TRADING DAY. THE NASDAQ, WE ARE SEEING RISK TOLERANCE COME BACKING TO THE MARKET. WE ARE SEEING A DEBT CEILING -- HOPING THE FEDERAL RESERVE MIGHT PAUSE.

EVEN THOUGH THE INFLATIONARY PRESSURE IS STYLING BACK A LITTLE BIT, THE JOBS MARKET IS STILL ON FIRE. WE ARE WAITING FOR THE JOBLESS NUMBER TO COME OUT. MIXED DATED TODAY IN TERMS OF ADP.

TO YOUR YIELD BACK FIVE BASIS POINTS. CRYPTO CURRENTLY ON THE DOWNSIDE. NOT RISK ASSET HUNGRY EVERYWHERE AS BITCOIN HAD A ROUGH MONTH PREVIOUSLY OF ME. SOME OF THE INDIVIDUAL MOVERS. INTERESTINGLY, WE HAVE LUCID ON THE DOWNSIDE. MORE SUPPLY COMING TO THE MARKET. $3 BILLION WORTH. SAUDI ARABIA, SOME BIG INVESTORS INVOLVED.

DOWN 14% ON THE FACT OF THAT NEWS. SALESFORCE DOWN. ITS NUMBERS AFTER A SURGE IN THE STOCK THIS YEAR, THE GROWTH NOT WHERE THEY WANT TO SEE IT IN TERMS OF REVENUE. THE 10% NUMBER NOT LIVING UP TO EXPECTATIONS. META HAVING A REALLY NICE DAY AS THEY PUT THEIR NEW VR PRODUCT ON THE MARKET. LET'S TALK ABOUT THE AI HYPE WE CONTINUE TO LIVE AND DIE BY AT THE MOMENT.

THE FINANCE INDUSTRY TO USE AI IN PRODUCTIVE AND INNOVATIVE WAYS. THERE ARE STILL TIMES MAKES MORE SENSE TO USE HUMAN BRAINPOWER. >> PRIME FOR SOME REAL TALK ABOUT AI. NOT ONLY IS IT SOMETIME WORSE THAN HUMANS, IT CAN BE MORE EXPENSIVE. >> IT COST GPT4 AROUND $14 TO ANSWER ONE QUESTION ON ONE 1000 WORD LOAN DOCUMENT. WHAT ARE THE DOWNGRADE TRIGGERS FOR THIS? THE REASON IT COST $14 ARE SIMPLY DOWN TO THE EXTREME COMPUTE COSTS REQUIRED FOR OPENAI TO OPERATE ITS LARGE LANGUAGE MODELS. PASSING THAT COMPUTE COST ONTO

THE SOFTWARE VENDOR OR THE USER. AT THE SAME TIME IT ONLY COSTS$6 OR $7 FOR A HUMAN BEING OPENING UP ADOBE ACROBAT AND MICROSOFT EXCEL TO ANSWER THAT SPECIFIC QUESTION. AISHA: HIS COMPANY SELLS TO FINANCIAL INSTITUTIONS. IT IS AN INDUSTRY RAPIDLY ADOPTING AI.

>> BANKS NEED TO BE MORE STRATEGIC IN LEVERAGING AI FROM A COST PERSPECTIVE AND A RISK MANAGEMENT PERSPECTIVE. AISHA: WELLS FARGO IS USING -- ANALYZING REGULATORY DATA TO MAKE RECOMMENDATIONS. FRANCE BNP PARIBAS USES IT FOR CUSTOMER SERVICE AND FRAUD DETECTION. JP MORGAN, THE BIGGEST U.S.

BANK ADVERTISED FOR A MASSIVE 3500 AI RELATED ROLES. THESE ARE SOME OF THE EARLY APPLICATIONS. KNOWING THE TECHNOLOGIES CURRENT LIMITS LETS COMPANIES FOCUS ON THE REAL OPPORTUNITIES. CAROLINE: WE JUST HEARD IT, JP MORGAN LEADING THE PACK WHEN IT COMES TO EXPERIMENTATION OR HIRING OF AI TALENT.

REMIND US WHY FOR BANKS AT THE MOMENT, GENERATIVE AI AND AI IN GENERAL WOULD BE SUCH A WINDFALL. >> WALL STREET IS RACING TO USE AI IN WAYS THAT MAKE MONEY, AND PREVENTS NEFARIOUS MONEY. BANKS ARE THESE COMPLEX MACHINES WITH DATA AND RISK MODELING AND DECISIONS UNDERPINNED BY VAST QUANTITIES OF INFORMATION. IS AI CAN MAKE THAT MORE EFFICIENT OR CUT SOME OF THE MANPOWER INVOLVED, THAT IS A HUGE WIN FOR WALL STREET. WHAT IS IT DOING? BANKS LIKE DEUTSCHE BANK ARE DEPLOYING DEEPER LEARNING SO THEY CAN HELP CLIENTS ANALYZE WHETHER THEY ARE TOO HEAVILY INVESTED IN AN ASSET.

JP MORGAN HAS FILED A PATENT FOR SOME CHAT GDP ADVICE. BNP PARIBAS IS USING CA -- CHAT BOTS. CAROLINE: I AM INTERESTED IN SOME OF THE RISK ANALYSIS. SOME ARE MORE CONSCIOUS THAN OTHERS. SOME HAVE ACTUALLY BANNED THE USE OF CHATGPT BY EMPLOYEES. SALLY: WE HAVE SEEN SOME BLOWUPS IN THE WORLD OF ADVANCED TECHNOLOGY.

BANKS ARE INDEED BEING VERY CAUTIOUS. WE HAVE HEARD FROM WARREN, WHO SAID ONCE IT IS OUT THERE YOU CANNOT UN-INVENT IT. BANK OF AMERICA SAID YOU DON'T KNOW WHAT YOU ARE GOING INTO A LOT OF THESE DECISIONS. YOU SHOULD POTENTIALLY BE CONCERNED ABOUT THE OUTPUTS. BANKS HAVE A FIDUCIARY DUTY NOT TO TRADE ON UNRELIABLE INFORMATION.

IT MAKES A QUESTION ABOUT THE SOURCES OF DATA THAT ARE PULLED AND WHEN IT COMES TO AI. CAROLINE: HOW MUCH ARE THEY BUILDING THEMSELVES? DO YOU KNOW HOW MUCH THEY ARE LOOKING TO OTHER AI TECH OUTSIDE OF THE WORLD? SALLY: SOME ARE TRYING TO DO IT IN-HOUSE AND OTHERS ARE USING EXTERNAL CONSULTANCIES. WE HAD A GREAT DATA POINT ABOUT TALENT. TALENT IS VERY MUCH AT THE

HEART OF THIS. FOR ALL THE BANKS REALLY EMBRACING AI, ABOUT 40% OF THEIR OPEN JOBS ARE AI RELATED. THAT IS FOR QUANTS, ETHICS, ANALYSTS.

JP MORGAN IS AT THE FOREFRONT, ACCOUNTING FOR MORE THAN 3600 OTHERS JOBS. AT THE HEART OF THIS RACE IS THE BATTLE FOR TALENT. CAROLINE: AND THAT TALENT IS EXPENSIVE. IT IS NOT BAD TIMING THAT THE BIG TECH COMPANIES HAVE BEEN LETTING GO PEOPLE. IS THERE ANYRE-STEALING THE GHOST -- IS THERE ANY RE-SKIL LING THAT GOES INTO THIS? SALLY: WHEN COMBINED WOULD WAGE INFLATION AND INFLATION IN GENERAL, THE COST OF AI CAN BE EXPENSIVE. THE COST OF USING LARGE LANGUAGE MODELS COULD BE ABOUT $40 PER HOUR, WHICH COMPARES TO $6 PER HOUR WHAT IT IS A HUMAN LAWYER. CAROLINE: WE WILL SEE WHEN THE COST POINT

COMES DOWN. WE THANK YOU SO MUCH. MEANWHILE, LET'S TALK ABOUT ADDITIONAL AVATARS. THE MARKET IS ANOTHER FACTION OF THE AI SPACE EXPECTING TO SEE RAPID GROWTH. WE SPOKE ABOUT THE ETHICS BEHIND USING THE TECHNOLOGIES WITH HIS VERY OWN TWIN.

>> JOINING US IS A SPECIAL, SLIGHTLY WEIRD GUEST. IT IS OUR OWN IN FACT MY OWN DIGITAL AVATAR. >> THANK YOU, TOM. IT IS A PLEASURE TO BE HERE ON BLOOMBERG TV. I AM IN AI POWERED DIGITAL AVATAR TO PROVIDE INSIGHTS AND INFORMATION ON A WIDE RANGE OF TOPICS. >> THIS IS VERY ODD. WHAT EXACTLY ARE AVATARS?

>> DIGITAL AVATARS ARE VIRTUAL REPRESENTATIONS OF INDIVIDUALS THAT CAN MIMIC HUMAN THE PAGER -- MIMIC HUMAN BEHAVIOR. THAT UTILIZE ALGORITHMS TO LEARN FROM VAST AMOUNTS OF DATA INCLUDING FACIAL EXPRESSIONS, GESTURES AND SPEECH PATTERNS. THIS ENABLES THEM TO GENERATE REALISTIC VIRTUAL CHARACTERS. >> AVATARS ARE NOT JUST GIMMICKS. WHAT ARE THE REAL-WORLD IMPLICATIONS? ACROSS THE ECONOMY, DIFFERENT INDUSTRIES? >> THEY CAN REVOLUTIONIZE INDUSTRIES SUCH AS ENTERTAINMENT, GAMING AND VIRTUAL COMMUNICATION. AVATARS HAVE THE POWER TO ENHANCE USER EXPERIENCES ENABLING IMMERSIVE VIRTUAL INTERACTIONS AND PERSONALIZED CONTENT. THEY CAN FACILITATE REMOTE

COLLABORATION AND ASSIST WITH CUSTOMER SERVICE. >> THERE HAVE TO BE SOME DOWNSIDES. ONE OF THE RISKS OF THIS KIND OF TECHNOLOGY? >> AS AI BECOMES MORE PERVASIVE ETHICAL CONCERNS ARISE INCLUDING BIAS AND EXPLAIN ABILITY OF AI DECISION-MAKING, DATA PRIVACY AND SECURITY AND THE POTENTIAL FOR AI TO PERPETUATE SOCIAL INEQUALITIES. CAROLINE: TOM MACKENZIE AND AI TOM MACKENZIE. LET'S BRING YOU SOME HEADLINES. WE ARE SEEING THE TREASURY MAY DELAY THREE-MONTH AND SIX-MONTH BILL SALES DUE TO THE DEBT CAP.

THERE ARE STILL CONVERSATIONS ABOUT THE DEBT CEILING AND HOW THAT WILL BE AGREED, PASSED BY THE HOUSE AND WAITING FOR THE SENATE. THE U.S. IS TENTATIVELY PLANNING THREE-MONTH AND SIX-MONTH BILL AUCTIONS AT JUNE 5. THOSE AUCTION SALES COULD BE DELAYED DUE TO THE DEBT CAP. WE WILL BRING YOU ANY FURTHER NEWS ON THE DEBT CEILING NEGOTIATIONS. WE WILL TALK ABOUT UNIQUE OPPORTUNITIES AND MUCH MORE. REBECCA LYNN WILL BE JOINING US.

LET'S HAVE A LOOK IN THE WORLD OF RETAIL. MACY'S, SHARES MANAGING TO BOUNCE BACK FROM WHAT WAS AN UGLY SELLOFF. THE NUMBERS CAME IN LESS THAN EXPECTED.

THE CONSUMER DIALS BACK FROM THE MACY'S BRAND. LET'S HAVE A LOOK AT WHAT THE CEO TOLD ME EARLIER. HE IS TALKING ABOUT HIS ROLE WITH ARTIFICIAL INTELLIGENCE, SAYING WHEN WE LOOK AT AI MORE BROADLY, WHERE OUR TEAM CAN BUILD MORE CUSTOMERS, PRODUCT DISCOVERY, WE ARE ON THE VANGUARD TO CONTINUING TO DEPLOY THAT. THIS IS BLOOMBERG.

♪ >> ACCOUNTING, OPERATIONS, I THINK IT IS TO COMPLETELY REVOLUTIONIZE AND TRANSFORM OUR INDUSTRY. WE ARE INVESTING VERY HEAVILY INTO THE DEVELOPMENT AND NEW CAPABILITIES OF AI. CAROLINE: HE WAS WITH US YESTERDAY TALKING ABOUT AI'S IMPACT ON FINTECH. LET'S TURN TO A FINTECH INVESTOR. REBECCA LYNN IS JOINING US. $835 MILLION IN ASSETS UNDER MANAGEMENT.

FASCINATING TO HAVE YOU WITH US AS TO WHY FINTECH IS -- REBECCA: THERE ARE A LOT OF INTERESTING PLACES TO PUT AI TO WORK. FINTECH IS NOT AT THE ABSOLUTE TOP OF MY LIST. COMPANIES WITH THROUGH TRANSFORMATIVE OPPORTUNITIES WITH AI IS WHERE WE WOULD FOCUS FIRST. IN MY PORTFOLIO WITH A COMPANY CALLED CASE TEXT. THEY HELP LAWYERS PUT TOGETHER RESEARCH, BRIEFS, DISCOVERY.

THE TECHNOLOGY OF AI, ESPECIALLY GPT4 HAVE SUPERCHARGED THAT COMPANY AND TECH INTO THE NEXT LEVEL. CAROLINE: HOW COMFORTABLE ARE POTENTIAL CUSTOMERS? WE SAW THE NEWS THAT TWO NEW YORK LAWYERS ARE POTENTIALLY FACING NOT ONLY BACKLASH BUT PENALTIES TO USE GPT-4 TO PUT FORWARD CASE STUDIES THAT DO NOT EXIST. IT SEEMS FUNNY BUT THIS HAS CONNOTATIONS OF PEOPLE NEED TO START SAYING THEY ARE USING AI. REBECCA: 100%. PEOPLE HAVE BEEN SO COMFORTABLE WITH CASE TEXT THAT THE COMPANY RACKED UP $5 MILLION IN 45 DAYS AFTER THE LAUNCH OF THEIR PRODUCT CALLED CO-COUNSEL. REGARDING THAT STORY, WHAT HAS TO HAPPEN -- I AM AN ATTORNEY, AS WELL -- IF YOU ARE AN ATTORNEY, YOU NEED TO READ THE WORK, WHETHER THAT IS OF YOUR ASSOCIATES OR AI. CASE TEXT IS STANDING IN THE

SHOES OF AN ASSOCIATE. AS A PARTNER AT A FIRM, YOU WOULD BE REQUIRED TO REVIEW THAT WORK. I CAN PRETTY MUCH GUARANTEE YOU THAT THEY WERE NOT USING CASE TEXT. CAROLINE: YOU HAVE TO SORT OUT WHAT IS REAL AND WHAT IS HEIGHT. HOW DO YOU DO THAT WHEN YOU ARE LOOKING AT HUNDREDS OF MESSAGES POURING INTO YOUR INBOX TRYING TO SELL YOU AN AI VISION? REBECCA: I TELL EVERYONE MY INBOX IS LIKE A TWITTER STREAM. THERE IS A LOT OF SORTING. THERE IS ALWAYS A LOT OF

SORTING. QUITE FRANKLY, THAT IS WHAT WE ARE PAID TO DO IN VENTURE, SEE AROUND THE CORNER. SEE WHAT IS NEXT. WHAT IS IT THAT THIS WORLD NEEDS? WHAT WILL BE HAPPENING IN THE NEXT 10, 15, 20 YEARS AND THEN WORK BACKWARD.

WHAT COMES IN EMAIL IS VERY REACTIONARY. I WAS TAUGHT VERY EARLY BY ONE OF THE MOST RESPECTED PEOPLE IN VENTURE THAT THE BEST DEALS ARE THE OUTBOUND DEALS. ARE FIRM AND OUR THESIS IS OUTBOUND, MACRO, AND THEN YOU WORK BACKWARD. TAGGING AI TO SOMETHING DOES NOT REALLY HELP. AI WILL BE HELPFUL IN ALMOST EVERY BUSINESS AND WE REALLY WANT TO SEE NOT WHAT IS HELPFUL BUT TRANSFORMATIVE. WHAT WILL CREATE THE NEXT $1 MILLION, $10 MILLION, $1 TRILLION COMPANY. CAROLINE: WHAT ARE VALUATIONS LIKE?

REBECCA: WE INVEST IN SERIES A AND B. ARE BEST ASSET IS GO TO MARKET CAPABILITY. WE COME IN AND INVEST WHEN COMPANIES ARE SERIES A OR B. WE LIKE TO DO THE LATE A OR EARLY B. BEFORE SOMEONE IS TECHNICALLY FUNDRAISING, COMMENT AND HELP THEM GET TO THE NEXT LEVEL. WHEN YOU TALK ABOUT VALUATIONS, VALUATIONS ACROSS THE BOARD ARE DOWN. THEY ARE DOWN LESS FOR THE

SERIES A THAN THEY ARE FOR GROWTH STAGE. GROWTH STAGE VALUATIONS HAVE TAKEN A NOSEDIVE. THEY ARE DOWN 80%. EARLY STAGE VALUATIONS ARE DOWN 40% ON AVERAGE. HOWEVER, THERE IS THE CASE OF THE HAVE AND HAVE NOTS. ONE COMPANY IN PARTICULAR WAS NOT EVEN IN PROCESS AND IS NOW SITTING ON 4 TERM SHEETS.

IT IS THE CASE OF THE HAVE AND THE HAVE NOT. CAROLINE: WHEN YOU ARE LOOKING AT LATE STAGE VALUATIONS ON THE DOWNSIDE THAT ARE HAVING TO BUCKLE UP, RIDE OUT THE NEXT COUPLE OF YEARS AS THE ECONOMY RECOVERS AND PEOPLE GET RISK APPETITE AND THEY HAVE TO PIVOT OVER ENSURE THEY ARE NOT HAVING THEIR LUNCH EATEN BY OTHER AI PLAYERS, HOW DO YOU MAKE SURE THE PORTFOLIO IS ROBUST FOR THIS COMPLETE CHANGE, VANGUARD MOMENT IN THE WORLD OF ARTIFICIAL INTELLIGENCE? REBECCA: THIS IS A MOMENT WE HAVE NOT SEEN SINCE THE BALL OF GARDEN CAME DOWN WITH THE INTRODUCTION OF THE IPHONE THAT HAPPENED ABOUT 15 YEARS AGO WHEN I FIRST CAME INTO VENTURE. OUR FIRM IS UNIQUE BECAUSE WE HAVE SEEN MULTIPLE CYCLES. THIS IS NOT OUR FIRST RODEO. WITH EVERY CYCLE LIKE THIS, THE ADVICE IS THE SAME -- CUT YOUR BURN. PLAN TO GET THERE ON YOUR OWN OXYGEN AND DO NOT BE AFRAID TO PIVOT. IN THE LAND OF AI, THERE ARE HUGE OPPORTUNITIES IN FRONT OF COMPANIES. TAKE A BEAT, CUT YOUR BURN AND

LIVE TO FIGHT THE NEXT FIGHT AND TAKE IT OF WHAT THE CAPABILITIES OF AI CAN OFFER YOU TO REALLY RETHINK YOUR COMPANY AND THINK OUT-OF-THE-BOX. THE PROBLEM A LOT OF THESE COMPANIES HAVE IS THEY ARE SITTING AT SUCH A HIGH VALUATION THEY POSTED THE LAST ROUND THAT THEY HAVE TO GET PROFITABLE BECAUSE THEY WILL NOT BE ABLE TO GET THAT NEXT ROUND WITHOUT A BIG DOWN ROUND OR EVEN A RECAP. CAROLINE: CANVAS VENTURES COFOUNDER TELLING A STRAIGHT. REBECCA LYNN, THANK YOU. IT IS TIME FOR TALKING TECH. THEY HAVE RECOVERED NEARLY $20

MILLION IN MARKET VALUE FOLLOWING THE COLLAPSE OF TERRA USD. IT IS TOPPING ITS PREVIOUS HIGH. MEANWHILE, APPLE IS TESTING A PAIR OF NEW HIGH-END MACS AHEAD OF ITS WORLDWIDE DEVELOPERS CONFERENCE NEXT WEEK. IT IS PART OF AN OVERHAUL EFFORT FOR THE MAC LINE. A CEO IS HEADING TO CHINA TO MEET WITH TECH EXECUTIVES IN THE WORLD'S BIGGEST CHIP MARKETERS MY TENSIONS BETWEEN WASHINGTON AND BEIJING. FROM NEW YORK, FROM SAN

>> ARE YOU READY TO BE REPLACED? HELLO, THERE. AS YOU LISTEN TO ME SPEAK AND RAISE MY EYEBROWS YOU ARE PROBABLY NOTICING SOMETHING A BIT OFF ABOUT ME. I AM AN AVATAR OF A TECHNOLOGY COLUMNIST WITH BLOOMBERG OPINION. SHE SPENT ABOUT TWO HOURS IN A TV STUDIO SPEAKING INTO A CAMERA AND MICROPHONE SOME AN MODEL COULD BE TRAINED TO CLONE HER INTO WHAT YOU SEE IN FRONT OF HER. MAYBE IN A YEAR OR TWO I WILL LOOK REAL AND LESS GLITCHY MAKING PEOPLE LIKE YOU AND HER EASILY TO REPLACE IN VIDEOS. CAROLINE: IT IS ALL THE RAGE, THESE AI AVATARS. SPEAKING OF AI IMITATING US

BETTER AND BETTER AND THREATENING TO REPLACE OUR JOBS, -- DISPROPORTIONATELY REPLACE JOBS HELD BY WOMEN. AN ECONOMIST SAID THE DISTRIBUTION OF GENDERS ACROSS OCCUPATIONS REFLECTS THE BIASES DEEPLY ROOTED IN OUR SOCIETY WITH WOMEN OFTEN BEING CONFINED TO ROLES SUCH AS ADMINISTRATIVE ASSISTANCE AND SECRETARIES. THE IDENTIFIED JOBS MORE LIKELY -- GENERALLY HELD BY WOMEN SUCH AS PAYROLL CLERKS, EXECUTIVE SECRETARIES AND MORE. THE FIRM SAID PROVIDING MORE TRAINED OPPORTUNITIES WILL BE KEY FOR WOMEN TO NAVIGATE THIS EVOLVING JOB LANDSCAPE. THAT IS IT FOR "BLOOMBERG TECHNOLOGY."

YOU CAN FIND US ONLINE. THIS IS BLOOMBERG. ♪

2023-06-05 14:17

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