Black Friday and Cyber Monday, Musk in Israel | Bloomberg Technology
>> FROM THE HEART OF WHERE INNOVATION, MONEY AND POWER COLLIDE IN SILICON VALLEY AND BEYOND, THIS IS BLOOMBERG TECHNOLOGY WITH CAROLINE HYDE AND ED LUDLOW. ♪ CAROLINE: I AM IN NEW YORK. ED: I AM ED LUDLOW IN SAN FRANCISCO AND THIS IS BLOOMBERG TECHNOLOGY. CAROLINE: WE WILL BREAK DOWN WHAT WE CAN EXPECT FROM THE CYBER MONDAY SHOPPING. THE CEO OF A LEADING DATA PLATFORM IS WITH US. ED: ELON MUSK VISITS ISRAEL AFTER
FACING BACKLASH FOR AMPLIFYING ANTISEMITIC COMMENTS ON X AND WE LET THE TAKEAWAYS FROM HIS TRIP AND THE MEETING WITH PRIME MINISTER BENJAMIN NETANYAHU. CAROLINE: HUNDREDS OF JOBS WILL BE CUT AND WHAT IT MEANS IN TERMS OF THE BROADER CONTEXT. THAT AND SO MUCH MORE IS COMING UP LET'S CHECK IN ON THE MARKETS. A LITTLE BIT OF CAUTION AS WE START OF THE NEW WEEK. MAYBE SOME THINNER VOLUMES BUT UP ABOUT 0.1% ON THE NASDAQ AND A LOT OF SUPPLY COMING OUR WAY WHEN IT COMES TO THE BOND MARKET THAT WILL FACTOR INTO THE EQUITY MARKET.
PEOPLE MAY REORIENT ON THE FIVE-YEAR IN PARTICULAR. BRENT CRUDE IS OFTEN HAD BEEN RALLYING A LITTLE BIT. THEY THOUGHT -- IT'S THOUGHT THAT SAUDI ARABIA WOULD BE INCREASING PRODUCTION IN OIL. NOT BIG MOVES IN CRYPTO.
STILL TRADING AT $37,000. IT'S INTERESTING GIVEN THE WEAKNESS OF THE U.S. DOLLAR. ED: BLACK FRIDAY/CYBER MONDAY IS MOVING THE NEEDLE FOR EQUITY MARKETS. WE'VE COVERED THESE SHOPPING SEASONS ONLINE AND THEY DON'T OFTEN TRANSLATE INTO EQUITY MARKET MOVES BUT THAT'S HAPPENING. THERE WAS A RECORD BLACK FRIDAY AT SHOPIFY. AMAZON IS ONE OF THE MAIN BENEFICIARIES OF ONLINE SPENDING. IT WAS NINE POINT $8 BILLION ON
BLACK FRIDAY. THE FIRM IS UP SIGNIFICANTLY WITH ONE SERVICE PROVIDER UP 16% BUT CURRENTLY ON TRACK FOR ITS BIGGEST JUMP SINCE AUGUST OF 2022. WE WILL SPEAK TO THE CLAVIO CEO ABOUT WHAT'S HAPPENING ON CYBER MONDAY. THERE IS A BIG EMPHASIS LATER IN THE PROGRAM ON CHINA TECH. THE NEWS IS ABOUT JOB CUTS AND WINDING DOWN IN THE GAMING DIVISION.
IS NOT PUBLICLY TRADED BUT OTHER ITEMS ARE COMING OUT LIKE ALIBABA SLIGHTLY OFF. WE WILL HAVE A LITTLE BIT MORE ON THAT. CAROLINE: LET'S TALK A LITTLE ABOUT HOW FAR WE'VE COME IN TERMS OF THE TECH STOCK RALLY. WHO'S BEEN SUFFERING ON THE
OTHERS? DIVIDEND ETF FLOWS ARE NEAR A RECORD LOW. ONE OF THE MOST READ STORIES IS WHO'S DONE BADLY ON THE BACK OF THE TECH TRADE. WE KNOW THAT THERE IS SOME WRITING OUT TODAY THAT GIVEN THE AMOUNT OF BUYBACKS AND THE AMOUNT THAT APPLE HAS TO BUY BACK IN TERMS OF SHARES, THE RALLY COULD CONTINUE. >> PEOPLE SAY THEY'RE STILL DRY POWDER ON THE SIDELINES IN THE SEASONALITY BODES WELL FOR THE RALLY TO CONTINUE.
WE KNOW BIG TECH IS REALLY DRIVEN MOST OF THE GAINS AND SO WHEN YOU LOOK AT THIS DIVIDEND STORY, IT'S ANOTHER EXAMPLE OF HOW MUCH THE RALLY IN THE STOCK MARKET THIS YEAR HAS BEEN TAKEN OVER BY THE GAINS IN MEGA CAP TECHNOLOGY STOCKS. ED: PART OF THE STORY IS ABOUT MISSING THE BOAT. THE S&P 500 YEAR TO DATE AND INFORMATION TECHNOLOGY, 50% GAINS IN TECH BASICALLY BUT THE STRATEGIES YOU ARE WRITING ABOUT DO NOT TOUCH TECHNOLOGY SO THEY MISS OUT. >> I FOUND THE PORT FUNCTION ON THE BLOOMBERG TERMINAL HELPFUL IN WRITING THIS STORY. IF YOU RUN THAT ON A NUMBER OF DIVIDEND ETF'S AND LOOK AT SDY FROM STATE STREET, THEY DON'T REALLY HAVE A LARGE WEIGHTING TO INFORMATION TECHNOLOGY.
THEY HAVE ABOUT A QUARTER OF THEIR WAITING TO CONSUMER STAPLES, UTILITIES, HEALTH CARE, SECTORS THAT HAVE DECLINED THIS YEAR AND HAVE NOT BENEFITED FROM THE AI EUPHORIA THAT HAS POWERED THE TOP OF THE S&P 500. THEN YOU LOOK AT VIG THE DIVIDEND APPRECIATION ETF AND IT SHOWS THEY HAVE ABOUT A 25% WEIGHT FOR INFORMATION TECHNOLOGY AND THAT'S ONE OF THE BEST PERFORMING DIVIDEND ETF'S, UP 9.6%. UNDERPERFORMING THE S&P AND THE NASDAQ BUT THAT LARGE CONCENTRATION IN INFORMATION TECHNOLOGY HELPED THAT ETF. CAROLINE:
THIS WEEK, WE DON'T JUST HAVE MACRO ISSUES BUT IDIOSYNCRATIC EARNINGS? SALESFORCE FOR EXAMPLE. IS AI THE FORCE FOR THOSE COMPANIES? >> I THINK SO, I THINK THESE COMPANIES WILL RIDE ON THAT THEME FOR THE REST OF THE YEAR. WHEN WE LOOK AT ALL OF THESE SECTORS, ARE WE GOING TO SEE HOW THE INTERNET AT FIRST DOMINATED TECH AND THEN EXPANDED AND NOW EVERY COMPANY USES THIS TECHNOLOGY -- WILL WE SEE THAT EXPAND TO OTHER COMPANIES EARLIER IN THE YEAR? COMPANIES LIKE KROGER MENTIONED AI. THAT SEEMS TO FIZZLE OUT A LITTLE BIT. WE WILL SEE IF THESE COMPANIES ACTUALLY MANAGED TO CAPTURE THIS TECHNOLOGY THAT HAS BEEN SO BENEFICIAL FOR THE MEGA CAPS. ED: THAT'S PRETTY MUCH THE TOP STORY ACROSS THE PLATFORMS THIS MONDAY. IT'S A BIG DAY FOR MANY BIG TECH COMPANIES IN THE E-COMMERCE BUSINESS.
CYBER MONDAY IS IN FULL SWING AND THECLAVIO CEO JOINS US NOW. YOU WENT PUBLIC EARLIER THIS YEAR. THERE SEEMS TO BE UPGRADED EXPECTATIONS FOR CYBER MONDAY BASED ON HOW STRONG BLACK FRIDAY WAS. DO YOU SEE THAT IN YOUR DATA AS WELL? >> THANKS FOR HAVING US. IT'S A SUPER EXCITING WEEK, THE
BIGGEST WEEK OF THE YEAR FOR MANY OF OUR CUSTOMERS. WE POWERED SMARTER DIGITAL RELATIONSHIPS, UNDERSTANDING WHERE THEIR CUSTOMERS ARE AND COMMUNICATE WITH THEM AND BUILD GREAT EXPERIENCES. PERIOD FOR BUSINESS TO GROW AND AS USUAL, WE ARE SEEING CLAVIO'S POWER ON THAT. WE HAD 300 MILLION MESSAGES SENT DURING OUR PEAK HOUR ON BLACK FRIDAY. PART OF THE WAY WE MAKE THE EXPERIENCES BETTER IS USING ARTIFICIAL INTELLIGENCE TO GENERATE OVER ONE BILLION RECOMMENDATIONS EMBEDDED IN THE EMAILS.
MOST CRITICALLY, THAT RESULTED IN REAL GROWTH FOR THESE BUSINESSES. IN THE PEAK HOUR ON BLACK FRIDAY ,CLAVIO BUSINESSES GENERATED OVER $50 BILLION IN SALES. WE FOUND THAT THE TREND WAS MANY PEOPLE SENDING MESSAGES EARLY IN THE DAY BUT THE ACTUAL BEST CONVERSION TIME WAS TOWARD THE MIDDLE. WE SAW THE MOST CONVERSIONS WITH CUSTOMERS BUYING BETWEEN 11 AND NOON ON FRIDAY. ED: WHAT IS YOUR EXPECTATION FOR
MONDAY? ADOBE ANALYTICS SAYS $9.8 BILLION SPENT FRIDAY AND THERE EXPECTATION IS $12.4 BILLION FOR THIS MONDAY. DO YOU SEE A BIGGER WINDOW OF ACTIVITY FOR YOU AS WELL? >> FROM THE BUSINESSES I'VE TALKED TO LOOKING AT OUR NUMBERS, BLACK FRIDAY WAS GREAT AND WE ARE ONLY PART OF THE WAY THROUGH CYBER MONDAY. ONE OF THE BIG TRENDS WE'VE SEEN PLAYING OUT HIS CONSUMERS ARE BUYING FROM BRANDS THEY LOVE. I'VE TALKED TO A NUMBER OF RETAILERS THAT SOLD OUT ON FRIDAY AND EXCEEDED EXPECTATIONS BY MARKETING BACK TO THE BUSINESSES -- TO THE CONSUMERS THAT THEY ALREADY HAVE RELATIONSHIPS WITH. ONE OF THE BIG TRENDS WE ARE
FOCUSED ON IS A LOT OF BUSINESSES IN THE PAST RELIED ON ADVERTISING IN MARKETPLACES TO DRIVE DEMAND BUT A LOT OF MODERN DIGITAL BUSINESSES, DIGITAL BRANDS ARE GOING DIRECT AND BUILDING DIRECT CONNECTIONS TO CONSUMERS AND REACHING THEM THROUGH EMAIL, TEXT MESSAGING AND USING PERSONALIZATION ARTIFICIAL INTELLIGENCE AND MEASURING THE RESULTS AND THAT'S DRIVING SALES. THAT'S A LOT OF WHAT WILL POWER THEM THROUGH NOTCHES BLACK FRIDAY CYBER MONDAY BUT THE ENTIRE HOLIDAY SEASON. CAROLINE: I THINK OF MY OWN SMS, HOW MANY PEOPLE ARE CONSUMERS PUSHING BACK ON THIS WAY OF MARKETING? >> WHEN YOU SEND ONE-SIZE-FITS-ALL MESSAGING, ESPECIALLY IN A CHANNEL, MY TEXT ARE PRETTY PRIVATE. IF YOU SEND ONE-SIZE-FITS-ALL MESSAGES, THAT DOESN'T WORK. PEOPLE OPT OUT BUT WHEN YOU PERSONALIZE THE RECOMMENDATIONS BASED ON THE PRODUCTS PEOPLE A BOUGHT OR WE OFTEN FIND BUSINESSES LAUNCHING NEW PRODUCTS, THEY ARE PRE-RELEASING THAT TO FOLKS WHO SUBSCRIBE TO TEXT MESSAGES.
CONSUMERS LIKE THAT BECAUSE THEY FIND OUT BEFORE THINGS SELL OUT AND THAT KIND OF MARKETING WORKS REALLY WELL. CAROLINE: I WOULD SAY MANY MIGHT BE SURPRISED THERE IS SUCH A RESILIENT CONSUMER DEMAND OVER THE LAST WEEKEND OR SO. THE MACY'S CEO SAID FRIDAY, IT WAS MORE ABOUT JEWELRY AND CASHMERE AND GIFTING AND PEOPLE ARE NOT JUST HELPING THEMSELVES BUT IN THE SPIRIT OF SPENDING AND THROUGH THE -- ENTHUSIASTICALLY. ARE WE SEEING A RESILIENT CONSUMER OR IS IT CERTAIN TOUCH BRANDS AND GEOGRAPHIES? >> WE ARE SEEING IT ACROSS CATEGORIES.
THE OTHER THING WE'VE NOTICED IS BLACK FRIDAY, CYBER MONDAY HISTORICALLY WERE MORE U.S. CANADA CENTRIC HOLIDAYS AND WE ARE SEEING THOSE EXPAND GLOBALLY. WE SAW ACTIVITY PICKUP ACROSS THE CLAVIO PLATFORM STARTING EARLY EVEN IN ASIA. I THINK THIS IS BECOMING MORE OF A GLOBAL HOLIDAY AND LESS DOMESTIC. ED:
THERE'S BEEN ACTIVITY IN SOME OF THE CHINESE BASED PLATFORMS WITH HEAVY DISCOUNTING. IS THAT A DATA SET OR A MARKETPLACE YOU TRACK? >> WE HAVE BUSINESSES AROUND THE WORLD BUT SPECIFICALLY RELATED TO DISCOUNTING. WE CAN SEE WHAT THE NUMBERS SHOW US. BECAUSE OUR THESIS IS ABOUT BUSINESS IS GOING TO CONSUMERS THAT ALREADY HAVE A RELATIONSHIP, I THINK THAT HELPS MODERATE SOME OF THE DISCOUNTING BEHAVIOR. THESE ARE CUSTOMERS THAT MAY BE A BOUGHT IN THE PAST OR WERE BROWSING OR THEY HAVE SOME AFFILIATION WITH A BUSINESS AND NOW THEY ARE READY TO PULL THE TRIGGER.
I THINK THAT'S THE SHIFT IN MARKETING WE ARE FOCUSED ON IS HOW YOU TAKE EXISTING RELATIONSHIPS AND MAKE MORE OUT OF THOSE. I THINK THAT OFFSETS SOME OF THE DISCOUNTS THAT ARE REQUIRED. CAROLINE: YOU ARE IN THIS ECONOMIC ENVIRONMENT WHERE THE NUMBERS ARE PRETTY GOOD OVER THE LAST FEW DAYS. YOU HAVE RECENTLY GONE PUBLIC AND YOU ARE TRYING TO BUILD THIS NARRATIVE TO A NEW SHAREHOLDER BASE OF WHAT IT IS YOU DO AND THE MACROENVIRONMENT. YOU WERE ALL ABOUT AI SO HOW IS IT BEING A PUBLICLY TRADED COMPANY? >> WE'VE HAD A MENTALITY OF JUST FOCUSING ON HELPING BUSINESSES GROW. ONE OF THE BIG TRENDS WE LOVE
TALKING ABOUT IS IT'S NOT JUST HIS MOVE FROM COMMERCE HAPPENING FROM BRICK AND BORDER TEST BRICK-AND-MORTAR TO ONLINE BUT AT THE OTHER BIG MACRO TREND IS BUSINESSES SAYING I WILL DRIVE DEMAND TO MY STORE WHETHER IT'S A DIGITAL STORE OR A PHYSICAL STORE. I WILL DRIVE DEMAND NOT CHEST THROUGH TRADITIONAL CHANNELS LIKE ADVERTISING AND MARKETPLACES BUT I WILL ALSO DO THAT BY BUILDING DIRECT RELATIONSHIPS WITH CONSUMERS. THE TECHNOLOGY TO DO THAT HAS GOTTEN A LOT BETTER AND THE PERSONALIZATION DRIVEN BY ARTIFICIAL INTELLIGENCE HAS GOTTEN BETTER. I SUSPECT OVER THE COMING YEARS, WE THINK IT'S A LONG-TERM TREND AND MORE BRANDS ARE FOCUSED ON HOW THEY BUILD UP THEIR DATABASE OF DIRECT CONNECTIONS WITH CONSUMERS. THAT WILL DRIVE SALES AND ENGAGEMENT AND IF WE KEEP EXECUTING ON THAT, WE WILL DO RIGHT BY OUR CUSTOMERS AND THEIR SHAREHOLDERS. CAROLINE:
THANK YOU VERY MUCH FOR JOINING US. COMING UP, WE WILL TALK ABOUT ELON MUSK AND WE WILL HAVE THE LATEST ON HIS VISIT AND MEETINGS WITH THE ISRAELI PRIME MINISTER AND THE ISRAELI LAWMAKERS. THAT'S NEXT BUT BEFORE WE GO TO BREAK, LET'S TURN OUR ATTENTION TO THE BACKLASH AGAINST ELON MUSK WHICH CONTINUES FOLLOWING WHAT SEEMS TO HAVE BEEN AN AMPLIFICATION OF ANTI-SEMITISM ON X. ELON MUSK AND RISHI SUNAK
SHARED A STAGE AT THE SAFETY SUMMIT AND RISHI SUNAK WEIGHT IN LAST NIGHT. >> I CONDEMN ANTI-SEMITISM IN ALL ITS FORMS. IT DOESN'T MATTER WHETHER YOU ARE ELON MUSK OR SOMEONE ON THE STREET CHALLENGING ABUSE. CAROLINE: SOME PICTURES OF ELON MUSK BUT HE TOOK TO HIS OWN SOCIAL MEDIA PLATFORM TO CONTINUE THE CONVERSATION WITH BENJAMIN NETANYAHU.
THIS ULTIMATELY FEELS LIKE A BIT OF A PR EXERCISE. IT'S THAT HOW IT'S BEEN INTERPRETED? >> ABSOLUTELY, ELON MUSK IS ALMOST LIKE A WORLD LEADER. IN THE SAME WAY A POLITICIAN MIGHT FLY TO A WAR ZONE OR COMBAT A CRISIS AT HOME, X DEALING WITH A HUGE ADVERTISER PAUSE, TENS OF MILLIONS OF DOLLARS IN POTENTIAL LOST REVENUES AND ELON MUSK COMBATING THE ACCUSATIONS OF ANTI-SEMITISM BY SHOWING UP IN ISRAEL AND DOING AN EVENT WITH BENJAMIN NETANYAHU. ED: WHAT'S INTERESTING IS THAT ELON
MUSK HAS BEEN TIED TO THE ISRAEL-HAMAS WAR SINCE THE OUTSET. HE DOES HAVE A TENDENCY TO WAIT IN ON WHATEVER THE ISSUE OF THE DAY IS. THERE ARE PARALLELS WITH THE WAR IN UKRAINE. WHAT HAS HIS POSITION BEEN IN
ALL OF THIS? >> HIS POSITION ON THE WAR IN ISRAEL AND GAZA HAS BEEN VERY SQUISHY. IT'S KIND OF LIKE TRYING TO PUT HIMSELF IN THE MIDDLE OF IT AND WHEN POSSIBLE, USING IT TO ADVANCE HIS OWN BUSINESS GOALS. WE HAD A MEETING IN THE U.S. WITH ELON MUSK AND NETANYAHU AMID AN EARLIER FLAPPER ANTI-SEMITISM AND ELON MUSK MADE A BUNCH OF COMMENTS.
HE SAID HE WAS BASICALLY JEWISH OR HAD GONE TO A HEBREW PRESCHOOL. HE HAS TRIED ALL SORTS OF TACTICS TO SAY HE'S NOT ANTI-SEMITIC SHORT OF ACTUALLY APOLOGIZING FOR THE COMMENTS THAT CAROLINE ALLUDED TO JUST NOW. ED: A TECHNOLOGY STORY AT THE HEART OF THIS IS STARLING, THE ISRAELI COMMUNICATION MINISTRY SAID AN UNDERSTANDING PRINCIPLE IS OUT. WE ARE LOOKING AT PICTURES THE START LINK MAP. THE DARKER SHADES ARE COMING SOON. STAR LINK IS NOT QUITE OPERATIONAL IN ISRAEL OR THE GAZA STRIP BUT WHAT DO WE KNOW ABOUT THOSE NEGOTIATIONS? >> THIS IS PART OF A LARGER EFFORT BY STAR LINK WHICH IS LIKE THE COMMUNICATIONS SPACE X TO FIND A BUSINESS.
THEY LAUNCH THIS THING AND BECAUSE A LOT OF MONEY AND HAS A CONSUMER BUSINESS BUT ELON MUSK AND OTHERS HAVE REALIZED IT ALSO HAS BIGGER DEFENSE IMPLICATIONS AND IT COULD BE SOMETHING THAT COULD BE SOLD TO GOVERNMENTS AS A POSSIBLE COMMUNICATIONS TOOL. IT'S ABOUT TRYING TO CREATE A BUSINESS HERE WITH AN EYE TO AN EVENTUAL IPO IN THE FUTURE. CAROLINE: THERE IN LIES THE BREADTH OF WHAT YOU AND OTHERS ARE TRYING TO DO ON THIS PODCAST. HE BASICALLY HAS SO MANY DIFFERENT BUSINESSES AND A LOT OF WHAT HE'S DOING PERSONALLY ON X HAS RAMIFICATIONS ON THESE BUSINESSES. HOW HAS STAR LINK BEEN SOMETHING PEOPLE HAVE BEEN NERVOUS ABOUT? IT'S BEEN PLAYED OUT A LITTLE BIT WITH UKRAINE. >> SPACE X IN GENERAL, HIS AEROSPACE INVESTMENTS, HAVE BEEN A BRIGHT SPOT OVER THE LAST YEAR OR SO AMID QUESTIONS ABOUT DEMAND FOR TESLA CARS, AMID HIS CRAZINESS ON HIS PERSONAL SOCIAL MEDIA FEED. IT STARTED TO BLEED OVER.
WE HAD THIS FLAP OVER UKRAINE WHERE THE UKRAINIANS WERE CHOOSING ELON MUSK I'M SHUTTING OFF ACCESS. ELON MUSK IS GETTING SUCKED INTO THIS LARGER GEOPOLITICAL ISSUE. ON THE OTHER HAND, SPACE X IS SUPER SUCCESSFUL AS A DEFENSE CONTRACTORS WILL MAKE SENSE TO FIND THIS AS A MARKET FOR STARLIKE. -- STARLIKE. ED: HE HAS STATED HE IS NOT ANTI-SEMITIC. IT WAS INTERESTING THAT PRIME MINISTER BENJAMIN NETANYAHU NOT ASK HIM ABOUT THAT. IT'S AN ONGOING SITUATION WITH
ELON MUSK AND ISRAEL. SPEAKING OF CONTENT, MERRIAM-WEBSTER CHOSE AUTHENTIC AS ITS WORD OF THE YEAR, HIGHLIGHTING THE SPREAD OF MISINFORMATION ON PLATFORMS LIKE X AND THE RISE OF AI. THE EDITOR-AT-LARGE SAID IN A STATEMENT -- CAROLINE: WHAT A NOTABLY YEAR -- WORD OF THE YEAR. AI WILL COME AROUND AND WE WILL LOOK AT THE -- AT OPENAI'S EMPLOYEE SHUFFLE. >> I'M VERY HAPPY TO SEE SAM BACK.
HE IS UNIQUELY POSITIONED FOR STEWARDSHIP OF THIS VERY IMPORTANT COMPANY. IT IS MUCH MORE THAN JUST A COMPANY, IT IS BENEFITING WITH AI TO HUMANITY OVER THE NEXT FEW DECADES. I THINK WE'VE RESTORED THE PACT. ED: THAT WAS THE KHOSLA CO-FOUNDER. . IT WAS THE FIRST VENTURE FIRM TO BACK OPENAI. LET'S GET INTO THE LATEST. THE BIG UNKNOWN IS THIS TENDER
WHERE EMPLOYEES CAN SELL SHARES TO INVESTORS AND WHAT YOU AND I DISCUSSED ON FRIDAY IS THAT A LOT OF THESE STAFF ARE WILLING TO PUT LIFE-CHANGING AMOUNTS OF MONEY ON THE LINE TO BACK SAM ALTMAN. >> THAT WAS PART OF WHAT PEOPLE WERE SAYING WHEN THEY WERE SIGNING THAT LETTER, SAYING IF YOU DON'T BRING SAM ALTMAN BACK TO THE COMPANY AFTER HE WAS OUSTED, WE MAY LEAVE AND GO TO MICROSOFT. PART OF WHAT THEY WERE SAYING IMPLICITLY IS THAT WE MAY BE LEAVING A LIFE-CHANGING AMOUNT OF MONEY AS FAR AS THIS OFFER THAT HAS NOT BEEN COMPLETED.
CAROLINE: NOR HAS AN INTERIM BOARD TO A PERMANENT BOARD. IS THAT STILL IN NEGOTIATIONS? IS IT GOING TO GET MORE DIVERSE? >> THOSE ARE GOOD QUESTIONS. RIGHT NOW, WE'RE STILL TRYING TO FIGURE OUT A LITTLE BIT OF THAT. I HAVE BEEN REACHING OUT TO
PEOPLE AND I KNOW OTHER PEOPLE ON HER TEAM HAVE BEEN ASKING. THERE ARE A FEW QUESTIONS ABOUT HOW MANY PEOPLE WILL BE ON THE BOARD, WHAT IS THE COMPOSITION GOING TO BE, WILL MICROSOFT HAVE A SEAT ON THE BOARD? THINGS LIKE THAT ARE BEING FLUSHED OUT RIGHT NOW. I'M HOPING TO KNOW VERY SOON, ACTUALLY. ED: AFTER WE HAD THE HEART OF UMOJA SALUTE ON X THERE WAS ANOTHER ONE WHICH WAS A SHIP SO SOMETHING HAPPENED ON THE PRODUCT SIDE, WHAT WAS IT? >> YOU ARE TALKING ABOUTQ? JUST WANTED TO MAKE SURE. IT'S BEEN FIVE OR SIX DAYS THAT HAVE TURNED INTO THREE WEEKS. ED: THEY HAVE RELEASED A NEW VOICE PRODUCT WHERE THEY SAY THEY ARE STILL SHIPPING THINGS.
>> YOU ARE TALKING ABOUT BRINGING VOICE ON CHATGPT TO ALL CUSTOMERS. I ASKED ABOUT THAT AND I WAS TOLD THAT WAS SOMETHING THAT WAS INTENDED TO BE SHIPPED OUT IN ADVANCE. IT HAD NOTHING TO DO WITH THE OUSTING OF SAM ALTMAN BUT THE TIMING IS CERTAINLY NICE.
CAROLINE: WE WILL SEE HOW THEY GO NOW AND WHETHER THINGS KEEP ROLLING. WHAT A LONG FEW DAYS IT'S BEEN. SO MUCH MORE AHEAD WHEN IT ♪ ED: WELCOME BACK TO BLOOMBERG TECHNOLOGY. CAROLINE: IT'S ABOUT 12:30 P.M. NEW YORK TIME SO LET'S CHECK ON THE MARKETS. I'M LOOKING AT STILL HOLDING ONTO A 0.2% GAIN ON THE NASDAQ 500. THERE HAS BEEN SOME DATA OUT OF
CHINA WHICH MAY MEAN COOL DOWN AROUND THE MAGNIFICENT SEVEN. STILL A FEW OF THEM MANAGED TO DOMINATE THE LEADERSHIP. WE'VE GOT MORE AUCTIONS IN THE DEBT MARKET TODAY, THE FIVE-YEAR DEALS ARE COMING DOWN AHEAD OF THAT SALE.
IN THE WORLD OF CRYPTO, $37,000 IS WHERE WE ARE TRADING WITH A WEAKER U.S. DOLLAR. IN THE INDIVIDUAL NAMES, IT IS CYBER MONDAY BLACK FRIDAY THROUGH CYBER MONDAY IS DOING BETTER THAN EXPECTED. SHOPIFY IS HELPING THE CUSTOMERS ACCESS THE CUSTOMERS AND THEIR VOLUME IS INCREASING UP 5%.
AMAZON WILL BE BENEFITING FROM SOME OF THE CYBER MONDAY DEALS BUT RELATIONSHIP BUILDING IS GOING ON BETWEEN SALESFORCE AND AMAZON WEB SERVICES ANNOUNCING EXPANSION OF THEIR RELATIONSHIP. FOR THE FIRST TIME, THEY WILL OFFER SELECT SALESFORCE FOREST PRODUCTS ON THE AWS PLATFORM. SALESFORCE DOING WELL AHEAD OF ITS EARNINGS AS WELL. ED: IT'S INTERESTING TO SEE BLACK FRIDAY/CYBER MONDAY MOVE THE NEEDLE AND WE HAVEN'T SEEN THAT FOR A WHILE.
LOOKING AT THE SHOPPING, ACCORDING TO ADOBE ANALYTICS, U.S. SHOPPERS WILL SPEND UP TO $12.4 BILLION ONLINE TODAY. THAT'S ON STRONGER-THAN-EXPECTED SPENDING AND BLACK FRIDAY JUST GONE AND THE POPULARITY OF BUYING NOW AND PAYING LATER FEATURES. THE VP AND GENERAL MANAGER OF SALESFORCE JOINS US NOW. YOU HAVE YOUR OWN TRACKING.
ARE YOU ALSO UPGRADING WHAT YOU EXPECT THIS CYBER MONDAY BASED ON THE STRENGTH OF BLACK FRIDAY? >> WE AGGREGATE SIGNALS FROM BILLIONS OF SHOPPERS ACROSS OUR PLATFORM SO IT GIVES US A BIRD SIDE THERE'S A BIRDSEYE VIEW SO WE ARE FEELING REALLY POSITIVE. WE SAW GREAT RESULTS ON BLACK FRIDAY, UP 9% IN THE U.S. TOTALING 9.4 BILLION DOLLARS AND THAT'S RIVALING CYBER MONDAY AS THE TWO BIGGEST DIGITAL DAYS. WE EXPECT STRONG SINGLE-DIGIT GROWTH. IT HAS CORRELATED TO DISCOUNTS. CONSUMERS ARE SEEKING VALUE AND
BEING DILIGENT AND WE ARE SEEING THE DIGITAL VOLUME SEWER. CAROLINE: YOU HAVE ABOUT 25 YEARS EXPERIENCE ACROSS RETAIL IN ALL OF ITS GUISES. IN THE LAST FEW YEARS, IT'S MORE THE INFLATION NUMBER WHY WE HAVE SEEN NUMBERS UP AND NOW YOU SAY IS VOLUME AS WELL.
>> THAT'S A GOOD DISTINCTION BECAUSE WE SAW THIS RISE IN THE DIGITAL SERVER AROUND THE PANDEMIC. WE COULDN'T GO INTO A PHYSICAL STORE SO THAT CREATING NEW BASELINE. THE LAST EIGHT QUARTERS OR SO, MUCH OF THE GROWTH WAS FROM INFLATION, NOT INCREASED CONSUMER DEMAND. THAT'S WHAT WE SAW GOING INTO THE HOLIDAY BUT NOW, WE ARE SEEING INCREASED ORDERS, INCREASED CONSUMER DEMAND. THEY ARE SEEKING DISCOUNTS BUT THEY ARE BUYING MORE FINALLY. CAROLINE: WE KNOW THIS IS ALMOST
SEASONAL. WE HAVE THIS BULK BUYING THIS WEEK AND IT COOLS OFF ABOUT 10 DAYS AND EVER GOING GETS TOGETHER BEFORE THE NEXT ROUND OF HOLIDAYS. IS THAT CONSUMER RESILIENCE WORLDWIDE SOMETHING WE WILL SEE IN THE NEXT ROUND? >> I'VE BEEN TALKING TO HUNDREDS OF RETAIL EXECUTIVES WORLDWIDE LEADING INTO THE HOLIDAY.
NOBODY HAD AN OVERLY BULLISH FORECAST FOR THIS HOLIDAY. THEY WERE HOPING TO GET OUT OF IT AND CREATE A NICE FOUNDATION WITH INVENTORY AND THEIR MARGINS BUT WHAT WE ARE HEARING AND SEEING IS A SENSE OF GROWTH. RETAIL EXECUTIVES ARE REALLY POSITIVE IN FEELING GOOD ABOUT THE RESILIENCY OF THE CONSUMERS. IT WILL SHIFT BY VERTICALS WITH SOME STRONGER THAN OTHERS BUT THEY FEEL GOOD ABOUT IT. THERE LEANING IT'S THE DATA
THEY UNDERSTAND ABOUT THE CONSUMERS, LEVERAGING AI TO BUILD PERSONAL RELATIONSHIPS BECAUSE IT IS ABOUT RETENTION. IT'S ABOUT INCREASING MARGIN AND THEY FEEL SPECIALLY WITH THE SURPRISING RESULTS OF BLACK FRIDAY AND WHAT WE EXPECT DURING CYBER MONDAY COMING OUT OF THE YEAR AND FEELING GOOD INTO THE NEXT FISCAL YEAR. ED: THE CONSUMER ELECTRONICS MARKET IS INTERESTING BECAUSE YOU GUYS ARE TALKING ABOUT BIG NUMBERS ON THE OVERALL SPEND. ELECTRONIC SEVEN POPULAR BUT ELECTRONICS HAVE BEEN SOME OF THE MOST HEAVILY DISCOUNTED.
JUST EXPLAIN THAT IN THE LINK BETWEEN THE DISCOUNTS IN THE POCKET BUYING OF THOSE ELECTRONIC ITEMS LIKE TV'S AND CONSULS. >> THERE IS A DIRECT CORRELATION. THERE HAS BEEN A LOT OF NARRATIVE ABOUT PULLING IT EARLY BUT IT KICKED IN DURING CYBER WEEK WHERE RETAILERS STEPPED UP AND WHAT HAPPENS EACH YEAR IS THE IDEA OF THE GAME OF DISCOUNT CHICKEN. CONSUMERS ALWAYS WIN.
THE ONLY YEAR THEY DIDN'T WASN'T 2021 WHEN WE HAD A SHORTAGE OF PRODUCTS. CONTAINERS WERE STUCK IN THE PORTS AND COULDN'T GET INTO THE DOMESTIC SUPPLY CHAIN SAW RETAILERS AND NOT HAVE TO DISCOUNT BUT THEY HAVE TWO AGAIN AND LEVELS ARE AT 30% ACROSS THE BOARD. CONSUMER ELECTRONICS ARE SLIGHTLY HIGHER AS THEY NORMALLY ARE BUT WE ARE ALSO SEEING IT IN HEALTH AND BEAUTY, SEEING IT IN ACTIVE APPAREL, SEEING IT IN FOOTWEAR. FOOTWEAR SEEMS TO BE A BIG CATEGORY FOUR DISCOUNTS AND PURCHASES ONLINE THIS HOLIDAY SEASON. CAROLINE: WE WANT TO THANK YOU FOR GREAT CONVERSATION. WE WANT TO STICK WITH E-COMMERCE.
A VERIFICATION COMPANY USES AI TECHNOLOGY AND HAS PARTNERED WITH TIKTOK SHOP TO VERIFY GOODS SOLD ON THE PLATFORM. WE WANT TO WELCOME THE CEO OF ENTRUPY. IT'S A FASCINATING WAY IN WHICH WE ARE SEEING PEOPLE BUYING DIRECT FROM THE SOCIAL MEDIA PLATFORMS AND WANTING TO HAVE THAT TRUST ELEMENT YOU ARE USING ARTIFICIAL INTELLIGENCE TO MAKE SURE DECADES OF HUNDREDS AND HUNDREDS OF THESE GOODS THAT YOU ARE ABLE TO ANALYZE CAN -- YOU CAN ANALYZE THE CLICK OF THESE PRODUCTS. >> WE'VE BEEN AT THIS FOR YEARS AND IT'S A TRUSTWORTHY STANDARD AND REFINE THIS TO BE A MASSIVE NEED ESPECIALLY WITH LIVE IN SOCIAL COMMERCE WHERE THERE IS A LOT OF INFLUENCER BASED MARKETING AND INFLUENCE BASED SALES IN ONE OF THE KEY QUESTIONS THAT TIKTOK AND OURSELVES WANT TO DO IS WHAT ARE THE RIGHT TRUST SIGNALS WEEKEND SENT TO ENABLE SHOPPERS TO HAVE CONFIDENCE IN WHAT THEY BUY? WE ENABLE THIS SERVICE AND THE IDEA IS YOU TAKE SOME IMAGES OF DIFFERENT ITEMS IN FRONT OF YOU. IF YOU ARE A SELLER OF THESE PRODUCTS IDEALLY. THE VERIFICATION HAPPENS ON THE
CLOUD ENDS BASED ON AI ALGORITHMS THAT UNDERSTAND THE MINUTIA BETWEEN REAL AND FAKE PRODUCTS. THE OUTPUT OF IT GENERALLY SPEAKING IS A CERTIFICATE. THE KEY ASPECT IS THE CERTIFICATE IS VERIFIABLE, BACKED BY A FINANCIAL GUARANTY AND TO ME IT FEELS LIKE TIKTOK IS AHEAD OF THE CURVE IN UNDERSTANDING THIS TRUST IS ABSOLUTELY NECESSARY WHEN YOU DON'T KNOW WHO YOU ARE BUYING FROM OR WHAT EXACTLY YOU ARE BY. ED: WE WERE SHOWING PICTURES OF WHAT THE EXPERIENCE IS LIKE FROM THE CONSUMERS PERSPECTIVE.
EXPLAIN THE TECHNOLOGY AND HOW THE UNDERLYING TECHNOLOGY WORKS. >> WHEN WE STARTED THIS CERTIFICATION PLATFORM, THE IDEA WAS THAT THERE'S GOT TO BE SOME DIFFERENCES BETWEEN FAKE PRODUCT AND AUTHENTIC PRODUCT IN AREA WHERE THE GENUINE MANUFACTURING OF THIS PRODUCT IS VERTICALLY INTEGRATED ALL THE WAY FROM RAW MATERIAL SOURCING UP TO RETAIL AND SELLING THE PRODUCT. IS THERE A DIFFERENT STANDARD OF PRODUCTION OF MANUFACTURING BETWEEN REAL PRODUCTS AND FAKE PRODUCTS? WE ANSWER THAT USING AI SO WE BUILT ALGORITHMS THAT IDENTIFY FAIRLY ACCURATELY THESE DIFFERENCES AND THEN WE SCALED THAT BY GATHERING MORE AND MORE DATA. TODAY, WE HAVE TENS OF MILLIONS OF UNIQUE ITEMS IN THE DATABASE BOTH REAL AND FAKE PRODUCTS AND WE SOURCE THE PRODUCTS THEMSELVES. WE SOURCE THEM FROM ALL OVER THE WORLD AND THIS BENEFITS IN A COMMUNITY POLICING WAY.
WE COLLECT DATA FROM THE COMMUNITY ON PRODUCTS AND DISPERSE THE BENEFITS OF THAT USING THE AI SERVICE. ED: HAVE YOU MONETIZE THAT PROCESS? >> ITS SOFTWARE AS A SERVICE PLATFORM AND CUSTOMERS PAY A FLAT FEE FOR AN ITEM WE ALSO BACKED THAT WITH A FINANCIAL GUARANTY. WHEN WE STARTED, THE QUESTION WAS WHY WOULD YOU TRUST AI? WHY WOULD YOU TRUST A MACHINE? WE WANTED TO FORCE OURSELVES TO BE TRUSTWORTHY ENOUGH.
WE BACK EVERY SINGLE ITEM WITH A FINANCIAL GUARANTY EVEN THOUGH WE ARE NOT PART OF THE ACTUAL PURCHASING ACTION. THAT HAS LED TO A LARGE DISTRIBUTION OF CUSTOMERS IN 80 DIFFERENT COUNTRIES FROM BIG BRANDS DOWN TO TINY PAWN SHOPS ANYWHERE IN THE WORLD. THIS BENEFITS CONSUMERS, ULTIMATELY. CAROLINE: WHAT'S THE HARDEST THING TO
VERIFY? >> IT HAS GOTTEN HARDER ACROSS ALL BRANDS BECAUSE COUNTERFEITERS SEEM TO HAVE A FEEDBACK LOOP WHERE THEY REACH OUT TO CONSUMERS TO FIND OUT WHAT TO DO BETTER. IT'S A WEIRD UPSIDE DOWN WORLD WE LIVE IN WHERE PEOPLE HAVE ALSO MADE IT MORE SOCIALLY ACCEPTABLE TO BUY COUNTERFEITS. THAT'S BECAUSE OF THE QUALITY OF COUNTERFEITS GETTING BETTER. WHAT'S IMPORTANT TO UNDERSTAND IS COUNTERFEITS SEEM LIKE A VICTIMLESS CRIME BUT THEY CAUSE MANY HUNDREDS OF BILLIONS OF DOLLARS WORTH OF LOSSES FOR EVERY MANUFACTURE ALL THE WAY DOWN TO CONSUMERS. WE HAVE TESTED PRODUCTS WERE
100% OF THE SAMPLES WE TESTED HAD LEAD AND CADMIUM PAINT ON THEM. U.S. CONSUMERS ARE THE VICTIMS. YOU NEED TO KNOW WHAT YOU'RE BUYING AND MAKE SURE IS VERIFIED AND AUTHENTICATED AND HAS A CERTIFICATE. ED: ENTRUPY FOUNDER AND CEO, THANKS FOR JOINING US. COMING UP, WE WILL DISCUSS THE FATE OF CHINA'S GAMING ECOSYSTEM AS HUNDREDS OF JOBS WILL GET CUTS. THAT CONVERSATIONS COMING UP NEXT. THIS IS BLOOMBERG TECHNOLOGY.
ED: TIME FOR TALKING TECH. THE CHINESE PRESIDENT WILL VISIT SHANGHAI FOR THE FIRST TIME SINCE ITS COVID LOCKDOWN. HE WILL VISIT THE SHANGHAI FUTURES EXCHANGE AND SEVERAL TECH GIANTS OPERATING IN THE MEGA CITY ON TUESDAY TO TRY TO BOOST A WANING PRIVATE SECTOR SENTIMENT. ALIBABA HAS SHATTERED ITS QUANTUM COMPUTING RECENT LABORATORY, SIGN THE E-COMMERCE AND CLOUD OPERATOR IS CONSIDERING MORE CUTBACKS TO BULK UP THE BOTTOM LINE. THE LAST CLOSURE WILL RESULT IN QUITE A FEW LOSS OF EMPLOYEES.
JACK MA SET UP KITCHEN FOOD. THE BUSINESS INVOLVES THE SALE OF PACKAGED AGRICULTURAL PRODUCTS. CAROLINE: STAYING WITH CHINA, THE OWNER OF TIKTOK IS HERE BUT THEY ARE PLANNING TO CUT HUNDREDS OF JOBS IN GAMING. A CLOSURE THAT MARKS THE BY TEDANCE STEP DOWN, WE HAVE THE PRESIDENT AND CEO OF NICKEL PARTNERS COVERING THE ASIA GAMES MARKET AND ITS CONSUMERS. YOU ARE THE PERFECT VOICE.
WAS THIS A GAME OF MARKET SHARE, WERE THEY UNABLE TO TAKE ON OTHER GIANTS? >> ULTIMATELY, IT MAY HAVE BEEN THAT BUT I DON'T THINK THE GAMES INDUSTRY HAS EVER BEEN THEIR PRIMARY FOCUS. TIKTOK IS A HUGE FORCE TO RECKON WITH AROUND THE WORLD. BYTEDANCE ENTERED THE GAME SPACE WITH NEW VERSUS SEVERAL YEARS AGO BUT IT DOESN'T HAVE A STRONG PERCENTAGE OF THEIR GLOBAL REVENUES IN ANY GIVEN YEAR.
THEY HAVE SOME FLAGSHIP BRANDS LIKE THE MOBILE LEGENDS BANG BANG BUT THAT'S WELL KNOWN THROUGHOUT SOUTHEAST ASIA BUT HAS NOT LAUNCHED YET IN CHINA. THIS COULD BE AT THE FIVE-YEAR MARK, THEY'RE LOOKING AT THEIR FIVE-YEAR PLAN AND SAYING MAYBE WE NEED TO RESTRUCTURE. ED: IT'S GOOD TO SET THE SCENE. TENCENT IS THE GIANT NOT ONLY IN CHINA BUT THE GAMING GIANT GLOBALLY.
B EVEN IFYTEDANCE PULLS BACK, TIKTOK IS SUCH AN IN, THERE IS SOME VIDEO RATED CONTENT THERE. DO YOU FEEL THAT'S THE SECRET WEAPON THAT BYTEDANCE HAS THE MONEY TO -- HAS THE POWER TO MAKE MONEY? >> TIKTOK REACHES SO MANY EYEBALLS AND A LOT OF THEM SEE THE ADS AND THE USER ACQUISITION TECHNIQUES B THATYTEDANCE HAS GLOBALLY. EVEN IF THEY COMPLETELY SHUT OR IS NOT CONFIRMED, THEY WILL STILL BENEFIT FROM THE GAMES INDUSTRY GLOBALLY BECAUSE THEY WILL BE PART OF THE MACHINE THAT HELPS ACQUIRE USERS FOR PUBLISHERS EVERYWHERE. ED: THE BIG REGULATORY CRACKDOWN ON GAMING IN CHINA WAS VERY MUCH A SOCIALIST MANTRA AROUND WHAT SOCIETY IS EXPOSED TO. DOES THAT RISK REMAIN IN CHINA FOR REGULATIONS? >> THE REGULATORY LANDSCAPE IN CHINA HAS ALWAYS BEEN [INAUDIBLE] AND WILL ALWAYS BE THE NUMBER ONE HURDLE TO A KNOWN ENTITY FOR GAME COMPANIES ANYWHERE EVEN IF THEY ARE DOMESTIC OR INTERNATIONAL CERTAINLY TO BE ABLE TO LAUNCH GAMES AND HAVE SUCCESS IN THAT MARKET.
I THINK MOST OF THE REGULATORY CHANGES ARE BEHIND US NOW AND PEOPLE HAVE SOME STRONGER FOOTING TO MOVE FORWARD. AS WE LOOK AT REGULATIONS IN CHINA AS WITH ALL MARKETS AROUND THE WORLD, COMPANIES NEED TO RESPECT THE LAWS OF THAT COUNTRY THAT THEY ARE TRYING TO ENTER AN THERE ARE HUGE AMOUNTS OF MONEY TO BE MADE IN THE CHINESE GAMES MARKET. EVEN THIS YEAR, IT'S ALMOST $50 BILLION IN REVENUE IN CHINA ALONE. I THINK THAT'S A BIG PART OF THE GLOBAL MARKET AND THERE WILL BE A BENEFIT THERE FOR ALL COMPANIES. CAROLINE: THAT'S WHY WE SAW HIGH-PROFILE ACQUISITIONS.
BYTEDANCE MADE ONE AS WELL. THEY ARE LIKELY TO SPIN THAT OFF. IS THERE A MARKET TO BE SELLING INTO THIS ENVIRONMENT AT THE MOMENT? ARE GAMING STUDIOS VALUABLE OR LESS SO AFTER THE REGULATORY CRACKDOWN? >> I THINK THERE IS A LOT OF INTERNATIONALIZATION OF CHINESE COMPANIES TO THE REST OF THE WORLD IN TERMS OF MERGERS AND ACQUISITION OR SELLOFFS OR MORE. IF BYTEDANCE SOLD OFF MOUTON, THEIR GAME IS POPULAR THROUGHOUT THE WORLD AND I THINK THEY WOULD HAVE A BUYER WAITING FOR IT. THERE ARE RUMORS THEY WOULD SELLOFF MOUTON BUT I DON'T THINK THAT'S THEIR MAINSTAY BUSINESS. THERE HAS BEEN A RIPE APPETITE FOR ACQUISITIONS COME PARTICULAR OUT OF THE MIDDLE EAST LIKE SAUDI ARABIA WITH THE PUBLIC INVESTMENT FUND S PURCHASINGCOPELY AND DEDICATED $38 BILLION TO INVESTMENTS OF ANY KIND OF COMPANY OR STUDIO TO BE ABLE TO BUILD SAUDI ARABIA'S GAME INDUSTRY PROBABLY WITH AND I AM BECOMING WHAT CHINA HAS BECOME.
IT'S NOT SURPRISING THERE WOULD BE ACQUISITIONS AROUND THE WORLD AND MOUTON WOULD BE A BRAND PEOPLE WOULD BE INTERESTED IN. I WOULD BE SURPRISED IF THEY SOLD IT UP BECAUSE IT'S WELL KNOWN AND MOBILE LEGENDS BANG BANG IS ONE OF THE EAST COAST TITLES THAT ARE BIGGEST AND THEY ARE ABOUT TO LAUNCH IN CHINA. I'M NOT SURE WHY THEY WOULD SELL THAT OFF OR IF THEY WILL.
IT DEPENDS WITH THE EXTENT OF THE RESTRUCTURING IS. ED: PRESIDENT AND CEO OF NICO PARTNERS, THANK YOU FOR JOINING US. COMING UP, TECH IS TRENDING AWAY FROM TOUCH SPACE DEVICES TO EMBRACE USER EMOTIONS AND GESTURES.
WE WILL TALK ABOUT MARKETING NEW INVENTIONS FOR TOUCH LESS CONTROL. THIS IS BLOOMBERG TECHNOLOGY. ED: WEARABLES POWERED BY ARTIFICIAL INTELLIGENCE OR GENERATING BUZZ THIS SEASON AND ONE START UP IS AT THE HEART OF THE CONVERSATION. WE HAD THAT HUMANE CEO ON THE SHOW THE OTHER DAY AND THEY ARE NOT THE ONLY GAME IN TOWN. EVERYONE IS ALL ABOUT HAND MOTION, TALK US THROUGH IT. >> EVERYONE IS TRYING TO FIGURE OUT IN THIS NEW ERA OF DIGITAL INTERACTION, WHAT IS THE NEXT STEP BEYOND THE KEYBOARD OR MOUSE OR A TOUCHSCREEN? WITH HUMANE, THEY ARE USING A LASER BEAM FROM AI THAT BEAMS ONTO YOUR HAND AND YOU INTERACT BY MOTIONING WITH YOUR FINGERS AND THUMB.
APPLE AND META IS FOLLOWING SUIT AND TRYING TO FIGURE OUT WHAT GESTURES WILL WORK MORE QUICKLY THAN TOUCHING BUTTONS. IT REMAINS TO BE SEEN WHETHER THIS TECHNOLOGY WILL BE HERE FOR DECADES. PEOPLE HAVE BEEN THINKING ABOUT THIS NEW INTERACTION LEVEL. CAROLINE:
IT HAS NOT ALWAYS WORKED. >> YEAH, IF YOU HAVE A TABLETOP TABLET, YOU CAN INTERACT WITH IT USING YOUR HANDS TO STOP AN ALARM OR PRESS PLAY ON SOMETHING AND PUSHED TOWARD THE SCREEN. IT'S LIKE SHOVING A GHOST HIM IT'S A LITTLE UNNATURAL. A LOT OF DIFFERENT COMPANIES ARE USING DIFFERENT GESTURES, CLENCHING YOUR FIST, USING COMPUTER VISION TO SEE HOW YOUR HANDS INTERACT OR THE APPLE WATCH YOU CAN TURN IT ON TO PLAY A SONG OR SKIP AN ALARM. IT SORT OF AN ACTION BUTTON WITH THE CLICK OF YOUR INDEX FINGER.
IT DEPENDS ON WHETHER THIS WILL BE USEFUL. RIGHT NOW IT'S FASTER. THE TASH THE TECHNOLOGY IS COMING INTO MANY BIG TECH BRANDS WHO ARE EXPERIMENTING WITH IT. MICROSOFT IS BEEN EXPERIMENTING WITH IT FOR A WHILE BUT IT'S BEEN DIFFICULT TO INTERACT WITH SOME OF THESE SYSTEMS BUT THEY ARE GETTING BETTER. CAROLINE:
WE THANK YOU. MEANWHILE, THAT'S IT FOR THIS EDITION OF BLOOMBERG TECHNOLOGY. ED: A BIG THANK YOU TO THOSE LISTENING TO THE PODCAST ON THE BLOOMBERG PLATFORMS. THIS IS BLOOMBERG TECHNOLOGY.
2023-12-02 06:05
