Bloomberg Technology 08/31/2023
>> FROM THE HEART OF WHERE IN ADDITION, MONEY, AND POWER COLLIDE IN SILICON VALLEY AND BEYOND, THIS IS "BLOOMBERG TECHNOLOGY." >> I AM AT LUDLOW ON A SAN FRANCISCO. CAROLINE HYDE IS OFF TODAY. AN ELON MUSK BID TO MAKE X AN EVERYTHING APPLE.
THEY ARE CHANGING POLICIES TO EXPAND DATA COLLECTION. WE WILL BREAK DOWN WHAT HAS CHANGED OVERNIGHT. FULL EARNINGS COVERAGE AHEAD, WE WILL BREAK DOWN RESULTS FROM SALESFORCE, CROUCH STRIKE, AND OKTA. THE CEO WILL JOIN US. THE RACE FOR THE FIRST BITCOIN ETF. WHO IS GOING TO WIN? WE WILL DISCUSS. MATT HOUGAN JOINS US TO WEIGH IN.
TO OUR TOP STORY AND X PLANNING TO CLICK TO BIOMETRIC DATA FROM USERS. HOW WILL THEY PLAN TO USE IT? LET'S BREAK IT DOWN. LET'S START WITH THE NEW POLICY. WHAT IS X DOING DIFFERENTLY? >> IF YOU LOOK AT THEIR POLICY, THEY ADDED THIS AREA ABOUT MY METRIC DATA. WE KNOW IT MEANS THINGS LIKE FINGERPRINTS OR IRIS SCANS. BASED ON YOUR CONSENT TO THEY WILL START COLLECTING THE DATA IF YOU ALLOW THEM. ED: THERE IS ALSO JOBS DATA AND EDUCATION.
YOU AND I HAD THIS IN QUESTION WHICH IS HOW DO THEY COLLECT THIS BIOMETRIC DATA. I ASKED X AND THIS IS WHAT THEY TOLD US. BASICALLY TWO WAYS, YOU HAVE THE OPTION TO SHOW THEM THE GOVERNMENT ISSUED ID AND TAKE A SELFIE AS SORT OF TWO STAGED VERIFICATION. WHAT DO YOU MAKE OF THE PROCESS?
AISHA: IF IT'S IN LINE WITH WHAT ELON MUSK SAID. ONE THINK YOU TALKED ABOUT WHAT HE CHANGE THE PROCESS WAS THERE ARE TOO MANY BOTS AND SPAM. BEING ABLE TO UPLOAD AN ID IS A MORE ROBUST REVOCATION PROCESS. UNTIL NOW, THEY ASKED PEOPLE TO HAVE A VERIFIED PHONE NUMBER AND THEN A DISPLAY PHOTO. IT FALLS IN LINE WITH THAT.
ED: WHAT THEY ARE SAYING IS THAT IMPERSONATION IS STILL AN ISSUE. THERE ARE A COUPLE OF ED LUDLOWS RUNNING AROUND THAT ARE NOT ME. THEY THINK HE WILL DO WITH THAT. ELON MUSK FOLLOWED UP AFTERWARDS TO SAY THAT THERE WILL BE AN OFFER OF VIDEO AND AUDIO CALLING BUT WITHOUT HAVING TO SUBMIT A CELL PHONE NUMBER.
WHAT WAS THE NEW STUFF THERE? AISHA: IT IS THIS IDEA OF THE EVERYTHING APP. WE WANT MORE VIDEO, MORE AUDIO. THIS SEEMS LIKE A PLAY ON THAT. NOT HAVING TO USE A PHONE NUMBER, YOU CAN JUST CHAT WITH PEOPLE. IT FALLS IN LINE WITH HIS BROADER VISION TO MAKE IT AN EVERYTHING APP. ED: DEALING WITH SOME PRETTY LATE NEWS LAST NIGHT BUT IT HAS HAD A BIG RESPONSE.
LET'S KEEP THE CONVERSATION GOING WITH JENNIFER GRYGIEL, SERCO'S -- SYRACUSE UNIVERSITY PROFESSOR. THIS DATA SET X IS ASKING FOR, YOUR REACTION TO THAT? JENNIFER: SPECIAL THANKS TO EVERYBODY READING THE FINE PRINT AND HIGHLIGHTING THINGS THAT ARE COMING. THAT TELLS YOU SOMETHING. THERE IS THE BIOMETRICS PIECE AND HE HAS CLARIFIED IT IS FOR VALIDATING THAT THEY ARE WHO THEY SAY THEY ARE 40'S AUTHENTICATED ACCOUNTS. I THINK THE FACT THAT IT IS JOBS, EDUCATION, YOUR JOB AND YOUR EDUCATION TELL YOU SOMETHING.
THEY TELL YOU YOUR INCOME, HOW THEY CAN INFLUENCE YOU. IT IS A DEMOGRAPHIC THAT PROVIDES TARGETED MARKETING, I WOULD SAY. THAT IS ONE REASON FOR CAPTIONING THAT. -- FOR CAPTURING THAT. ED: X TALKS ABOUT THE IMPACT THIS WILL HAVE, IMPERSONATING PEOPLE ON THE PLATFORM. I HAVE HAD IMPERSONATION ACCOUNTS OF ME TO -- OF ME POP UP. DO YOU HAVE A BENEFIT OF A DOUBT THAT WILL BE A BENEFICIAL WAY OF COUNTERING THAT? JENNIFER: I THINK THAT IS WHAT THEY ARE HOPING FOR BUT BAD ACTORS CAN ALWAYS GET AROUND THINGS.
THE MORE TRUST WE PUT INTO THIS AUTHENTICATED IDENTITY, THE MORE RISK THERE MIGHT BE. I, MOEHRING BACK TO WHEN THE AP ACCOUNT WAS HACKED AND SAID SOMETHING HAPPENED AT THE WHITE HOUSE AND THAT THE STOCK MARKET CRASHED. ONCE YOU PUT MORE TRUST IN IT, IT IS PROBLEMATIC.
WHAT WE HAVE LEARNED WITH MUSK IS THAT CENTRALIZATION IS RISKY. MAYBE IT IS NOT A GOOD IDEA TO HAVE SO MANY PROFESSIONALS AND JOURNALISTS AND EVERYONE TIED INTO THIS SPACE WHICH IS CONTROLLED BY AN INDIVIDUAL NOW. IT WAS A CORPORATION BEFORE BUT THERE WERE INCIDENTS WHEN IT WAS UNDER JACK DORSEY.
THE RISKS ARE NOT NECESSARILY NEW AND THEY ARE NOT GOING AWAY. HE IS TRYING TO GET MORE PEOPLE TO STICK AROUND. X HAS NOT TOTALLY FAILED BUT IT HAS EVOLVED. WE NEED TO KEEP AN EYE ON HOW IT IS CHANGING. ED: X, FORMALLY KNOWN AS TWITTER, IT IS THE LINE WE REPEAT DAILY ON BLOOMBERG TECHNOLOGY. THERE ARE SOME JURISDICTIONAL QUESTIONS THAT ARISE FROM THIS POLICY MOVE. IF YOU GO TO THE POLICY PAGE,
THE BIOMETRIC DATA IS "BASED ON YOUR CONSENT AS A USER." BUT IT IS PERSONALLY IDENTIFYING INFORMATION. I ASK ABOUT GDPR IN EUROPE AND WHAT YOU THINK WILL HAPPEN IN THAT REGION. JENNIFER: YEAH. I LIKE HOW ELON MUSK IS
CLARIFYING THIS IS FOR PREMIUM USERS BUT THERE ARE CLASS ACTIONS IN THE U.S. ABOUT THE CAPTURE OF BIOMETRICS DATA. IN THE STATE OF ILLINOIS, THAT IS WHERE IT IS THE MOST RELEVANT BECAUSE THEY HAVE UNIQUE LEGISLATION. IT WAS NOT TRANSPARENT THIS IS WHAT THEY WERE DOING AS A COMPANY. PHOTO SCANS ARE PRETTY
STANDARD. WE SAW ISSUES WITH FACEBOOK AS WELL AS THE PAST. WHEN IT COMES TO EUROPE, THEY HAVE MORE PRIVACY INITIATIVES OVER THERE. WE ARE WAY BEHIND IN THE U.S. GDPR IS ABOUT CONSENT. IT IS NICE TO KNOW WHEN SOMETHING PERSONAL IS BEING COLLECTED. ALSO THE ABILITY TO OPT OUT OF THINGS.
I FEEL LIKE THIS FREE PRINTER APP IF YOU ARE IF REDUCER, YOU ARE PAYING MORE AND MORE WITH THINGS, LIKE NOT BEING ABLE TO CONSENT TO THINGS COLLECTED ABOUT YOU. SOME PEOPLE MIGHT BE LIKE I DON'T CARE. BUT WHAT HAPPENS TO THAT DATA IN AGGREGATE? WHO DOES MUSK SHARE THIS DATA WITH? I AM PARTICULARLY INTERESTED IN HOW DO THEY SHARED IT WITH GOVERNMENTS? NOT JUST THE UNITED STATES BUT SAUDI ARABIA. THAT IS ALSO AN INVESTOR IN MUSK'S ENTERPRISE.
THESE TOOLS ARE CREATED, THE RISKS ESSENTIALLY GROW SOMETIMES WITHOUT THE PUBLIC KNOWING. WE WANT TO RAISE AWARENESS AROUND THAT. ED: YOU RAISED THE IDEA OF THE DATA BEING USED IN AGGREGATE AND THE OTHER PIECE OF NEWS IS X OFFERING VIDEO AND AUDIO CALL FUNCTION WITHOUT HAVING TO SUBMIT A CELL PHONE NUMBER. MOVING AWAY FROM SOCIAL MEDIA, YOUR VIEW ON AN EVERYTHING APP AND THE DATA RELATIONSHIP THERE? JENNIFER: IT IS PROVING TO BE AN EVERYTHING APP. HE WANTS TO COLLECT EVERYTHING. THE MORE DATA, THE BETTER. IF THEY ARE MAKING SOMETHING MORE SQUISHY AND LOOSE IT IS BECAUSE THEY WANT YOU TO CONTRIBUTE MORE. THEY ARE LOWERING THE BARRIER
TO ENTRY. IF YOU DON'T HAVE TO INCLUDE A PHONE NUMBER, WHICH CAN BE CONSIDERED PERSONAL INFORMATION, A LOT OF THINGS ARE TIED TO OUR CELL PHONE NUMBERS. HE WAS TO GENERATE SOME MORE VIEWS, LIVESTREAMING, THE VIDEO APPS, THE VOICE AUDIO. THAT CAN BE CUT IT, TOO, YOUR VOICE HAS A PRINT TO IT. WE REALLY HAVE TO CONTINUE TO KEEP AN EYE ON AI AND HOW THIS DATA IS BEING CAPTURED TO TRAIN FUTURE MODELS. THE MORE VOICE THAT IS SUBMITTED, THE MORE THAT CAN BE ANALYZED AND USED IN FUTURE POTENTIALLY WITHOUT OUR CONSENT.
WE HAVE TO BE CAREFUL WHAT WE ARE CONTRIBUTING. HOPEFULLY AT SOME POINT WE CAN GET AWAY FROM SUCH CENTRALIZED SPACES GOVERNED BY WEALTHY FOLKS WERE CORPORATIONS -- WERE CORPORATIONS. IT BECOMES A TARGET OF INTERVENTION BY GOVERNMENTS OR STATE ACTORS AND THAT IS GOING TO GET OPPRESSIVE FOR PEOPLE. ED: JENNIFER GRYGIEL, SYRACUSE UNIVERSITY ASSOCIATE PROFESSOR OF COMMUNICATIONS, SO GREAT TO HAVE THIS DISCUSSION. CHECKING IN ON THE MARKETS, WE ARE BRACING FOR JOBS DATA FRIDAY BECAUSE THAT CONFORMS WITH THE FEDERAL RESERVE DOES NEXT. WHY DO WE CARE? PRESENT RATES IMPACT FUTURE CASH'S.
SO MANY TECH NAMES ON THIS NEXT. JOBS DATA COMES FRIDAY BUT EARNINGS IS ALSO PART OF THE STORY. SALESFORCE IS TOP OF MIND. TOPLINE GROWTH, LIVER PERCENT
YEAR ON YEAR AND THE QUARTER IS JUST GONE. OUTPERFORMING EXPECTATIONS ON THE BOTTOM LINE, RAISING GUIDANCE FOR THE YEAR. JOB CUTS COME HIGHER PRICES, A REAL FOCUS ON PROFIT. WE WILL BRING YOU REACTION FROM OUR BLOOMBERG INTELLIGENCE ANALYSTS. THE OTHER BIG STORY, THE RACE TO THE FIRST BITCOIN ETF IS ON. WHO IS GOING TO WIN? BITCOIN HAS GIVEN UP SOME OF THE EUPHORIA FROM THE DECISION TO REVERSE THE FEC BLOCKING.
THE BITWISE CEO, MATT HOUGAN, COMING UP NEXT YEAR ON "BLOOMBERG TECHNOLOGY." THIS IS BLOOMBERG. ♪ ED: THE JOURNEY TO A POTENTIAL BITCOIN ETF HAS BEEN A BUMPY ONE. SOME DECISIONS IN THE RACE ARE TRICKLING IN THIS WEEK. IT WAS, THE FTC EXPECTED TO RESPOND TO ITS BID. WE ARE JOINED BY BITWISE CEO, MATT HOUGAN. HAVE YOU HEARD ANYTHING FROM THE SEC, ANY UPDATED COMMUNICATIONS OR QUESTIONS? MY UNDERSTANDING IS THE DEADLINE TO REPLY TO YOUR APPLICATION IS FRIDAY. MATT: THAT IS RIGHT.
THE SEC HAS 45 DAYS TO RESPOND TO APPLICATIONS FOR NOVEL APPLICATIONS FOR ETF'S FOR THAT COIN. THE SEC CAN MOVE THOSE DEADLINES OUT BY ANOTHER 45 THAT MAY HAVE BEEN. IF I WERE AN INVESTOR LOOKING AHEAD, I WOULD CIRCLE OCTOBER 16 AS THE NEXT BIG DEADLINE. THAT IS 45 MORE DAYS AFTER THIS
WEEKEND AND 45 DAYS AFTER THE GRAYSCALE RULING IS THE LAST DAY OF THE FEC -- THE SEC COULD APPEAL. OCTOBER 16 MAY BE A GOOD DAY TO KEEP AN EYE ON. ED: THERE IS A QUESTION ON HOW THE SEC ACTS. DO THEY APPROVE EACH APPLICATION ONE BY ONE? OR DO THEY GO BY A COMMON CLOCK WHEREBY THEY LET EVERYONE LUNCH AT ONCE? JENNIFER: WE DON'T -- MATT: WE DON'T KNOW. IF YOU LOOK BACK AT THE SEC'S HISTORY OF TREATMENT FOR ETF'S, HAVE EXAMPLES OF EACH. ON BEHALF OF INVESTORS, THE BEST OUTCOME IS LIKELY TO LINEUP MULTIPLE ETF'S AND ALLOW THEM TO LUNCH AT ONCE.
THAT WILL CREATE THE MOST COMPETITION, LOWEST PRICES, THE BEST PRODUCTS AND BE THE FAIREST TO THE ASSET MANAGERS WHO HAVE WORKED HARD OVER 10 YEARS TO GET A SPOT APPROVED. IF WE GET APPROVAL, THAT IS WHAT I AM HOPING TO SEE. WE COULD SEE IT IN ANY WHICH WAY. ED:
WE ARE SHOWING BITCOIN'S PERFORMANCE AROUND $27,002 -- 27,000 U.S. DOLLARS. THE DECISION WAS SHORT-LIVED. I THOUGHT THAT WAS SUPPOSED TO BE A STARTING GUN OR A SIGNAL THAT THIS IS GREAT NEWS FOR CRYPTO. MATT: I THINK IT IS GREAT NEWS FOR CRYPTO. CRYPTO IS GOING FROM ANOUSHA ASSET TO A MAINSTREAM ASSET. THIS WAS AN IMPORTANT STEP BUT MY EXPECTATION IS ABOUT WHAT WE ARE SEEING TODAY. WE WILL UNDERESTIMATE THE LONG-TERM INSECT -- LONG-TERM IMPACT ETHICAL ETF. IN 2003, THAT TRANSFORMED GOLD.
IT IS NOT AS IF GOLD TOOK OFF ON THE DATE IT WAS APPROVED. I EXPECT THE SAME THING ABOUT BITCOIN. PEOPLE WANT THIS TO BE A ONE-DAY STORY.
THIS IS ACTUALLY A TENURE STORY, THIS IS ABOUT BITCOIN MOVING FROM THE EDGE OF THE INVESTMENT COMMUNITY TO THE CENTER OF THE MAINSTREAM ALLOCATION SPACE. THAT IS EXCITING. IF YOU ARE INVESTING IN THAT, YOU SHOULD BE THINKING ABOUT 10 YEARS AND NOT A FEW DAYS. ED: WHEN YOU SAY IF YOU ARE INVESTING, I WONDER WHO YOU ARE REFERRING TO. THE MAIN CONCERNS OF THE SEC IS THE PARTICIPATION OF RETAIL INVESTORS COME ALSO THE IDEA OF MARKET MANIPULATION. HAVE YOU BEEN ACTIVE IN ADDRESSING THOSE CONCERNS WITH THE REGULATOR? MATT: ABSOLUTELY. WE HAVE SUBMITTED OVER 4000
PAGES DEMONSTRATING THE BITCOIN MARKET UP TODAY IS NOT THE MARKET OF FIVE OR 10 YEARS AGO. THIS MARKET HAS A -- HAS MATURED. WE CAN HAVE A BITCOIN ETF AVAILABLE AND THE BIG POINT IS INVESTORS ARE ALLOCATING TO BITCOIN ALREADY. THEY ARE USING CONSUMER APPLICATIONS AND OTHER TOOLS. ALL ANY ETF WOULD DO WAS MAKE IT SAFER -- SAFER, CHEAPER, AND PROVIDE MORE PROTECTIONS TO UP INVESTORS GET BETTER EXPOSURE THAT THEY ARE FINDING THEIR WAY TO GET EXPOSURE TO. WE STARTED THIS SPOT 10 YEARS
AGO AND THE SEC WAS RIGHT TO DENY BITCOIN ETF'S. THE INDUSTRY WASN'T READY THE INSTITUTIONS WEREN'T READY. TODAY IT IS AND TIME FOR US TO MOVE FORWARD. ED: HOW DO YOU MOVE FORWARD AND WHEN? WE SHOWED THE CALENDAR OF EVERYONE THAT COULD POTENTIALLY HAVE ANY ETF APPROVED.
HOW ARE YOU COMPETITIVE AGAINST THE LARGE PACK? MATT: CRYPTO IS ALL THAT WE DO. WE WORK WITH THOUSANDS OF FINANCIAL ADVISORS AND TENS OF THOUSANDS OF INVESTORS. WE HELP THEM NAVIGATE THE GREAT PARTS OF CRYPTO AND THE CHALLENGES. SOME INVESTORS WILL WANT TO
TURN TOWARDS LARGE FROM OTHER ASSET MANAGERS LIKE BLACK ROCK. OTHERS WILL WANT TO TURN TO ANY EXPORT THEY CAN CALL UP AND GET ANSWERS FROM, INFORMED ABOUT WHAT IS GOING ON IN CRYPTO. IF YOU LOOK AT ETF'S HISTORICALLY, SPECIALIST ASSET MANAGERS THAT FOCUS ON SOMETHING 24/7 365 WIN MORE THAN THEIR FAIR SHARE OF ASSETS. WE ARE THE LARGEST CRYPTO INDEX FUND PROVIDER IN AMERICA.
WE WANT TO TAKE THAT EXPERTISE INTO THIS MARKET AND SERVE INVESTORS THAT WAY. ED: MATT HOUGAN, SUCH A KINDLY CONVERSATION -- A TIMELY CONVERSATION. AS IT DEVELOPS, COME BACK AND JOIN US. ACTIVIST INVESTORS CALLED ON SALESFORCE TO BOOST PROFITS AND THE COMPANY IS MAKING GOOD ON THAT. WE WILL RECAP THE NUMBERS COMING UP NEXT. WE ARE LOOKING AT SHARES OF CROUCH STRIKE, ANOTHER EARNINGS STORY.
THE BIGGEST RISE SINCE MAY. THE COMPANY ISSUING SECOND-QUARTER EARNINGS AND A GUIDANCE UPGRADE PROMPTING SEVERAL ANALYSTS TO RAISE THEIR PRICE TARGETS ON THIS STOCK COME UP MEANT PERCENT IN THE SESSION. THIS IS "BLOOMBERG TECHNOLOGY." ED: TIME FOR TALKING TECH. WE SPOKE YESTERDAY ABOUT THE RELEASE OF HUAWEI’'S SURPRISED SMARTPHONE. CHINESE MEDIA IS HEALING THE LUNCH AS A VICTORY IN THE INTENSIVE TECH WAR AGAINST THE U.S. A NUMBER OF BEIJING BACKED
COLUMNS HAVE RUN PRAISING HUAWEI SINCE THE RELEASE HAPPENED TO COINCIDE WITH GINA RAIMONDO'S VISIT TO CHINA. APPLE IS TAKING A GREENER APPROACH TO PRODUCING THE UPCOMING SMART WATCHES. LIVER REPORTING THE COMPANY IS TRYING OUT A 3D PRINTED TO MAKE THE GADGETS TO USE LESS METAL. THE APPROACH HAS THE POTENTIAL TO STREAMLINE THE SUPPLY CHAIN AND BE MORE ECO-FRIENDLY. IN AN EFFORT TO FEND OFF ANTITRUST SCRUTINY, MICROSOFT IS OFFERING TO UNBUNDLE ITS TEAMS CONFERENCING UNIT FROM THE BUSINESS SOFTWARE PACKAGE IN EUROPE. INVESTIGATORS ARE INVESTIGATING IF A BREACHED RULES BY OFFERING TEAMS AND MICROSOFT 365 IN PACKAGE FOLLOWING A COMPLAINT BY SALESFORCE. SALESFORCE BOOSTING INVESTOR
CONFIDENCE AFTER POSTING STRONG SECOND-QUARTER EARNINGS. THERE WAS A LOT OF SALESFORCE DID TO THEIR CREDIT, THEY RAISED PRICES FOR THE FIRST TIME IN SEVEN YEARS. WHAT JUMPED UP TO YOU FROM THAT EARNINGS PRINT? >> THE BOOKINGS NUMBER CALLED CR PO GREW 11%. THAT WAS A SURPRISE TO A NUMBER OF THEM, TO A NUMBER OF PEOPLE WHICH WAS PARTIALLY THE REASON THE STOCK IS UP. WE WERE EXPECTING THAT GOING IN BECAUSE WE HEARD FROM MICROSOFT AND AMAZON THAT THERE WAS A DECLINE IN SPENDING.
WE WERE NOT LOOKING FOR A BAD PRINT BUT THE EXPECTATIONS WERE VERY NEGATIVE GOING INTO THE QUARTER. ED: AI, WE LEAN IN ON THIS IDEA THAT ON A PER USER BASIS, SALESFORCE CAN CHARGE $7,500 PER USER. TOPLINE GROWTH WAS 11%. THIS IS A COMPANY THESE TO GROW 20 TO 30% TOPLINE. DOES AI RETURN THEM TO THAT LEVEL? ANURAG: 20% TO 30% IS OUT OF THE QUESTION. WHEN YOU LOOK AT A COMPANY LIKE SALESFORCE, THIS IS A COMPANY THAT SHOULD GROW REVENUE BETWEEN 10% AND 15%.
IN GOOD TIMES IT WILL BE CLOSER TO THE 13% TO 50% MARK. -- TO 15% MARK. THEY ARE CLOSE TO IN LINE WITH THIS OFFER, NOT SO MUCH IN THE 20% RANGE ANYMORE. ED: I KNOW YOU ZEROED IN ON THE
FUNDAMENTALS. YOU HAVE BETTER COMMAND OF THE NUMBERS THAN ANYONE I KNOW. I WANT TO ASK ABOUT MARC BENIOFF. INVESTORS MADE IT CLEAR WHAT THEY WANTED AND HE DID IT, HE FOCUSED ON PROFIT. ANURAG: THERE IS A LOT MORE TO GO WHEN
IT COMES TO PROFIT. IT IS GOING TO BE A LOT MORE THERE WHERE WE ARE RIGHT NOW. THEY SPENT STILL A LOT OF MONEY ON SALES AND MARKETING COMPARED TO THEIR RIVALS. WE EXPECT MARGINS TO GO EVEN HIGHER THAT OVER THE NEXT FEW YEARS. ED: THEY RAISED THEIR GUIDANCE FOR THE FISCAL YEAR BY 2%. ANURAG, GOOD TO CATCH UP. HERE ON "BLOOMBERG TECHNOLOGY," WE CONTINUE OUR CONVERSATION ON X AS THE COMPANY SHIFTS ITS DATA POLICY.
ADAM KOVACEVICH IS JOINING US NEXT. THE EARNINGS STORY CONTINUES, BROADCOM OUT WITH EARNINGS TONIGHT AFTER THE BELL. IT WILL BE A TEST TO SEE IF THE AI CRAZE CAN POWER THE -- THEY HAVE A BUSINESS HIGHLY RELEVANT TO THE COMMITMENTS, HYPER SCALARS, AND OTHER SASS ENTERPRISE NAMES FOR THE COMPUTER SIDE OF AI. THOSE NUMBERS AFTER THE BELL. I WILL BE JOINING OUR
COLLEAGUES ON "BLOOMBERG MARKETS" TO BREAK THEM AS THEY CROSS. SO MUCH MORE TO COME FROM SAN FRANCISCO, THIS IS "BLOOMBERG TECHNOLOGY." ♪ ED: WELCOME BACK TO "BLOOMBERG TECHNOLOGY." THIS IS WITH THE TECHNOLOGY SECTOR LOOKS LIKE. NASDAQ 100 IS SLIGHTLY HIGHER. THE STORY FROM ECONOMIC DATA
AND EARNINGS BUT WE GET JOBS DATA FRIDAY. THAT WILL INFORM WHAT THE FED DOES AND THEREFORE THE WRITZ NARRATIVE AND HOW WE VALUE MANY OF THESE TECH STOCKS, PARTICULARLY ON THE NASDAQ 100. SLIGHT OUT PERFORMANCE FOR CHIP STOCKS. EV NAMES PUSHING A LITTLE HIGHER, FORD AND GENERAL MOTORS ARE OF. TESLA IS FLAT. NEWS THAT THE U.S. IS GOING TO OFFER 2 BILLION OF PUBLIC MONEY TO RETROFIT PLANTS THAT MAKE COMBUSTION ENGINE VEHICLES AND TRANSITION THEM TO THE PLANTS THAT MAKE ELECTRIC VEHICLE OFFERINGS. TESLA IS NOT GO TO BENEFIT FROM
THAT BECAUSE IT DOES NOT NEED TO CONVERT EXISTING U.S. FACILITIES. IT IS A STORY WE WILL CONTINUE TO TRACK. THOSE FUNDS COMING FROM THE DEPARTMENT OF ENERGY. IN TERMS OF WHAT IS DRIVING IS HIGHER, IT IS THE MEGA CAPS THAT ARE DOING WELL. AMAZON IS PUSHING HIGHER. BROADCOM REPORTS EARNINGS AFTER
THE BELL, PUSHING THE PHILADELPHIA SEMICONDUCTOR INDEX HIGHER TO THE OUTSIDE. APPLE LOST EARLIER GAINS IN THE SESSION AND MEAT -- META IS ONE OF THE DRIVERS ON THE SOCIAL MEDIA SIDE. LET'S TURN BACK TO THE DATA POLICY CHANGES AND X, FORMERLY KNOWN AS TWITTER.
PLANNING TO COLLECT BIOMETRIC DATA, JOB AND SCHOOL HISTORY. I WANT TO POINT OUT THAT THE COMPANY TOLD ME THIS MORNING THIS ONLY APPLIES TO PREMIUM USERS WHO PAY FOR A X SUBSCRIPTION. JOINING US NOW, ADAM KOVACEVICH. YOUR REACTION TO THIS POLICY CHANGE? ADAM: WHERE YOU SEE COMPANIES ROLL OUT OF THESE TERMS OF SERVICE, THEY ARE A ROADMAP OF THEIR PLANS.
THEY MAY OR MAY NOT COME TO FRUITION. THEY WRITE THEM TO GIVE THEM A MAXIMUM PLEX ABILITY. THIS IS AN X-RAY INTO THE PLANS INSIDE ELON MUSK'S HEAD.
MUSCAT, LIKE LEADERS OF BIG COMPANIES ARE RACING TO INVADE EACH OTHER'S PRODUCT SPACES. EVERYBODY WANTS TO BECOME THE EVERYTHING APP. ON THE OTHER HAND, MUSK HAS DONE A LOT TO DESTROY USER TRUST. IT IS FAR FROM CLEAR THAT CONSUMERS ARE PREPARED TO FOLLOW HIM ON THIS EXPANSION AGENDA. ED: ON MY TIE ON, A LOT OF USERS HAVE RESPONDED TO ME SAYING THEY ARE NOT COMFORTABLE WITH THIS MOVE WHERE THEY CANNOT BELIEVE YOU HAVE TO PAY FOR THE PRIVILEGE OF HANDING OVER A WIDER SET OF DATA TO X AND ELON MUSK. THE COMPANY'S POSITION IS THAT BY HAVING A GOVERNMENT ISSUED ID AND A SELFIE OR PICTURE AS PART OF BIOMETRICS AND AS THOSE COME FROM YOUR GOVERNMENT ISSUED ID, IT WILL HELP THEM CRACKDOWN ON IMPERSONATORS.
THIS IS WHAT THE COMPANY TOLD ME THIS MORNING IN A STATEMENT. WHAT DO YOU MAKE OF THAT, THE ABILITY THROUGH THIS DATA TO TACKLE IMPERSONATION? -- THIS INTERPRETATION? ADAM: DO THEY NEED BIOMETRICS TO BECOME THE NEXT VENMO OR TO SOLVE A TRUST AND VERIFICATION PROBLEM MUSK CREATED? FOR PAYMENT SERVICES LIKE VENMO AND APPLE PAY, BIOMETRIC DATA IS VALUABLE FOR SECURING TRANSACTIONS. THAT IS A LEVEL OF SECURITY MOST PEOPLE WOULD WELCOME. BUT IF THEY ARE THIS BECAUSE THEY HAVE A BOT PROBLEM, NO ONE DID MORE TO CREATE A PROBLEM THAT ELON MUSK HIMSELF.
HE COMPLETELY MISUNDERSTOOD THE VALUE OF TWITTER'S OLD VERIFICATION SYSTEM AND AUCTIONED IT OFF AS A SOURCE OF REVENUE. THAT MEANT A LOT OF TROLLS HAVE BOUGHT CHECKS AND DIMINISHED USER TRUST. THEY NEED BIOMETRICS TO SOLVE THE PROBLEM IS LIKE SAYING WE NEED TO INSTALL A TOP-OF-THE-LINE ALARM SYSTEM BECAUSE WE GOT RID OF OUR DOORS AND LOCKS. IT IS MAY BE BEST TO FOCUS ON THE BASICS FIRST. ED:
THE CHAMBER OF PROGRESS REPRESENTS THE INDUSTRY. I UNDERSTAND THAT YOUR WORK IS SO THAT THEY CAN CONTRIBUTE IN A BETTER WAY TO SOCIETY. GIVE ME YOUR PERSONAL, YOUR SPECIFIC THOUGHTS ON A PLATFORM LIKE X, INCLUDING BIOMETRIC DATA, JOBS DATA, EDUCATION DATA, ALBEIT AT WILL AND ONLY TO PAID SUBSCRIBERS? ADAM: THE REALITY IS IF THEY ARE DOING THIS TO INJECT MORE COMPETITION INTO THE MARKETPLACE , TO COMPETE WITH LINKEDIN IN JOB SEARCH OR WITH VENMO AND PAYMENTS AND MESSAGING, ALL THAT IS GREAT. . COMPANIES HAVE A DEGREE OF PARANOIA THAT LEADS THEM TO COMPETE WITH ONE ANOTHER. THAT CREATES MORE OPTIONS FOR
CONSUMERS. THAT IS GREAT. THE ABILITY TO DO THAT DOES DEPEND ON TRUST. PEOPLE TRIED OUT THREADS BECAUSE THEY WERE DISSATISFIED WITH TWITTER AND ALL THE CHANGES GOING ON. META HAD DONE A LOT TO ESTABLISH TRUST WITH ITS USERS. ONE BILLION INSTAGRAM USERS,
THEY INVEST IN THINGS LIKE CONTENT MODERATION. IT IS GREAT TO SEE COMPANIES EXPAND AND COMPETE FOR -- COMPETE WITH THEIR RIVALS BUT IT IS ONLY POSSIBLE IF YOU HAVE A BASELINE TRUST WITH YOUR CORE USERS. ED: THIS COMES DOWN TO THE IDEA OF AN EVERYTHING APP, MOVING TOWARDS WHAT WE SEE IN SOUTHEAST ASIA WHERE IT IS MULTIFUNCTION PLATFORM. THE OTHER PIECE OF NEWS WITH
THE ADDITION OR UPCOMING ADDITION OF VIDEO AND AUDIO CALLS WITHOUT HAVING TO REGISTER A CELL PHONE NUMBER. WHAT DO YOU MAKE OF THAT MOVE? ADAM: IN SOME WAYS AND NUMBER OF COMPANIES ARE TRYING TO CREATE THE EVERYTHING APP. YOU SEE TIKTOK GETTING INTO E-COMMERCE TO COMPETE WITH AMAZON.
YOU SEE TIKTOK AND META COMPETING AGAINST TWITTER IN THIS TEXT ONLY POST. AUDIO-VIDEO CALLING CAN BE COMPUTED WITH WHATSAPP AND MESSENGER AND I MESSAGE. THE QUEST FOR THE EVERYTHING APP IS A GREAT ONE. IT HAS TO BE DONE IN A WAY THAT SOLVES A PROBLEM FOR CONSUMERS. WHEN I AM DOING A D OF CONVERSATION WITH PEOPLE IN TWITTER, WHAT USED TO BE KNOWN AS TWITTER, THERE ARE TIMES I CAN SEE THAT BENEFICIAL TO BE TURNED INTO A CALL.
IF ANY FOLLOW OUR OF THE PERSON ON X IS ABLE TO WRING THEM OUT OF THE BLUE, THAT CAN BE A RECIPE FOR SPAM CALLS. HE TALKED ABOUT X BECOMING A GLOBAL ADDRESS BOOK BUT TWITTER IS NOT A GLOBAL ADDRESS BOOK FOR MOST PEOPLE. THERE IS A GAP BETWEEN HOW HE USES IT AND HOW MOST PEOPLE USE IT. ED:
DOES X HAVE AN OUTSIZED SOCIETAL IMPACT RELATIVE TO ITS SIZE STILL? ADAM: ABSOLUTELY. IT ALWAYS HAS. HE HAS DONE A LOT TO ERODE THAT. BUT THERE'S STILL A LOT OF REAL-TIME CONVERSATION HAPPENING THERE. META IS TRYING TO CHALLENGE THAT AND HAS DRAWN A SHARE OF THAT CONVERSATION. THERE IS NO QUESTION THAT THERE IS STILL A LOT HAPPENING ON X. I HOPE IT ACTUALLY BECOMES A HEALTHIER PLACE FOR CONVERSATION BECAUSE THAT KIND OF TRUST AND VERIFICATION IS ESSENTIAL TO BEING A PLACE PEOPLE WANT TO HANG OUT. ED:
ADAM, GREAT TO CATCH UP. COMING UP, WE ARE GOING TO TALK AI FUNDING AND DEFENSE TECH WITH BILAL ZUBERI. THIS IS BLOOMBERG TECHNOLOGY. ED: AI STARTUPS ARE WORKING WITH BANKS TO RAISE A FRESH ROUND OF FINANCING. THAT IS ACCORDING TO BLOOMBERG SOURCES. THE COMPANY IS BEING ADVISED BY J.P. MORGAN AND GOLDMAN SACHS.
THE OPENAI COMPETITOR RAISED $270 MILLION. LET'S STICK WITH STARTUPS AND GET PERSPECTIVE, BRINGING IN BILAL ZUBERI. I'M HAPPY TO SEE YOU BECAUSE SINCE LAST WE SPOKE, YOU SEEM TO SPEND A LOT OF TIME ON AN AIRPLANE AND VISITED A LOT OF COUNTRIES. WHAT HAVE YOU BEEN UP TO? BILAL:
IT HAS BEEN A BUSY TIME. I HAVE BEEN VISITING HER FOR THE COMPANIES IN EUROPE AND ASIA, SEVERAL COMPANIES IN EUROPE, PAKISTAN, JORDAN, AND ALL OVER THE U.S.. WE HAVE COMPANIES COAST TO COAST. ED: IS THERE ANYTHING MAGIC DIVIDE ON WHAT YOU INVEST IN IN EUROPE VIS-A-VIS WHAT YOU INVEST IN IN AMERICA? BILAL: WE INVEST AT THE INTERSECTION OF TECHNOLOGY AND SCIENCES, SOLVING HEART PROBLEMS -- HEART PROBLEMS -- HARD PROBLEMS. PEOPLE LIKE TO BE THOUGHT LEADERS AND THINK OF THEMSELVES AS VISIONARIES. CAPITAL FOLLOWS TALENT AND
TALENT FOLLOWS INTEREST. THE INTEREST IS IN SOLVING IMPORTANT PROBLEMS. THAT IS WHERE WE ARE SPENDING OUR TIME. A COUPLE OF AREAS THAT EMERGE GLOBALLY FOR US TO INVEST IN IS SECURING LIFE AND ENVIRONMENT. COMPANIES LIKE SALES ROOM THAT
ARE WORKING ON CLIMATE CHANGE AND HURRICANE INTENSITY AND UNDERSTANDING WHERE THE PATTERNS THAT AFFECT GLOBALLY AND DEFENSE AND NATIONAL SECURITY. IT IS ADVANCING AND PROMOTING OUR PROFITABILITY AND PRODUCTIVITY. BUILDING AUTONOMOUS CARS, ENABLING THE TRANSITION TO ELECTRIC VEHICLES. WE ARE WORKING ON ENABLING FREE EXPRESSION, DEMOCRACY IS IMPORTANT, COMPANIES THAT ARE GLOBAL LEADERS IN COMMUNITIES, MACHINE LEARNING LEADERS. ED: WE HAD TO THE CEO THIS WEEK OR
LAST WEEK. THEY RAISED MONEY AS WELL. THEY ARE GOING TO USE IT FOR THE TALENT BECAUSE IT IS EXPENSIVE. TALK ABOUT THE HUGGING FACE INVESTMENT. BILAL: THE AI REVOLUTION IS HAPPENING GLOBALLY AND IT IS HAPPENING WITH PEOPLE. THIS IS NOT SOMETHING THAT REQUIRES SIGNIFICANT AMOUNTS OF CAPITAL AND IMPLEMENT INTO CAPEX AND HARDWARE SYSTEMS. PEOPLE AROUND THE WORLD ARE
DEVELOPING SOLUTIONS DEVELOPING AI THAT PREVIOUS DAY WAS NOT AVAILABLE. THAT IS HAPPENING FROM FINTECH AND TRADITIONAL ENTERPRISE SOFTWARE ALL THE WAY TO SOLVING HEALTH CARE PROBLEMS AND PRODUCTIVITY AND INDUSTRIAL SOLUTIONS. THAT IS WHAT HUGGING FACE IS DOING, THE LARGEST DEVELOPER OF MODELS AROUND THE WORLD AND THE CAPITAL THEY RAISE IS TO MAKE SURE THEY INVEST IN THAT. ED:
THE STORY FOR THE FIRM HAS BEEN THE .5 MILLION FUND. FOR SCIENCE AND DEEP TECH. AT THE TIME THAT WAS ANNOUNCED BACK IN APRIL -- IN THE TIME SINCE THAT WAS ANNOUNCED, HAVE YOU JUST BEEN WRITING CHECKS? HOW DOES IT WORK WHEN A FIRM RAISES NEW FUNDS? CAN YOU DESCRIBE THERE AND STARTED DEPLOYING? BILAL: TECHNICALLY YES, WE STARTED DEPLOYING CAPITAL WHEN WE RAISE IT. WE HAVE $5 MILLION UNDER MANAGEMENT. WE HAVE BEEN DEPLOYING CAPITAL FROM PREVIOUS FUNDS. OUR FOCUS IS GOING TO CONTINUE
TO BE THE INTERSECTION OF TECHNOLOGY AND SCIENCES, EVERYTHING FROM SEMI DETECTOR -- FROM SEMI CONDUCTOR CHIPS TO LIFE-SCIENCES, DEVELOPING NEW DRUGS AND THERAPIES. IT COULD BE COMPUTER SCIENCES, MACHINE LEARNING, AI, CYBERSECURITY. ED: AN UMBRELLA AREA OF INTEREST TO MYSELF, SETH CHAPMAN, WHO HAS BEEN WRITING ABOUT IT. WHY IS THIS NOW IN VOGUE? BILAL: I THINK IT IS MORE IMPORTANTLY REALIZATION THAT WHETHER WE LIKE IT OR NOT WE ARE AT SOME SORT OF WAR. THERE IS A WAR BETWEEN UKRAINE
AND RUSSIA AND U.S. TECHNOLOGIES FROM THE PRIVATE SECTOR AND PUBLIC SECTOR HAVE BEEN INFLUENTIAL. WE ARE AT ODDS WITH THE CCP THAT HAVE AGGRESSIVE DESIGNS THAT ARE HOSTILE TOWARDS THE U.S.. THE REALIZATION THAT THE LAST 20 YEARS OF WARFARE WERE GUERRILLA WARFARE IN THE MIDDLE EAST, GOING TO HAVE TO TOWN AND HOUSE TO HOUSE.
NOW WE ARE FACING AN SOPHISTICATED ENEMY WITH AI-BASED SOLUTIONS THAT ARE PERVASIVE IN OUR LIVES AND OFFENSIVE FROM THE CCP. WE HAVE TO PREPARE FOR THAT, WE HAVE TO WORK FOR THAT. THE CHANGE THAT HAS HAPPENED AS A REALIZATION THAT THE OLD SCHOOL WAY OF WORKING THROUGH FIVE OR SIX PRIMES AND DEVELOPING TECHNOLOGY DOESN'T WORK. YOU HAVE TO BRING IN NEW SECTORS WHETHER IT IS DRONE
TECHNOLOGY FOR -- THIS IS WHAT IS NEEDED FOR WHERE THE WAR IS GOING AND HOPEFULLY WE CAN REDUCE HUMAN SUFFERING AND REDUCE CASUALTIES IN DOING THAT, NOT PUTTING HUMANS IN HARM'S WAY. ED: GREAT TO HAVE YOU ON SET IN SAN FRANCISCO. COMING UP, OKTA JUMPING ON STRONG RESULTS IN AN UPGRADED FORECAST. BC CEO TODD MCKINNON JOINS US NEXT. WE ARE LOOKING AT A LIVE SHOT OF A PICKLE BALL COURT WHICH HIGHLIGHTS A MAJOR STORY FROM THE SAN FRANCISCO CHRONICLE. IT DETAILS HOW A WEALTHY RESIDENT IN PRESIDIO HEIGHTS HAS INITIATED A PETITION DEMANDING THE CITY'S RECREATIONS AND PARK DEPARTMENT SHUT DOWN THE PICKLE BALL COURTS AT A PLAYGROUND HER HOME OVERLOOKS.
THE ONLY THING IS THAT SHE HAS HER OWN PICKLE BALL COURT IN THE BACKYARD OF HER HOME LISTED FOR $36 MILLION. THIS IS BLOOMBERG TECHNOLOGY. >> YOU HAVE TO JUST ENGINEER THINGS TO OPERATE WITHIN CERTAIN GUARDRAILS AND BOUNDARIES. YOU HAVE TO STEER THINGS IN THE RIGHT DIRECTION. IS THE WORLD SUGGESTING THE WHOLE WORLD REPLACE HUMAN CONNECTION WITH A CHAT BOT? IF THAT IS THE CASE, I PROMISE WE HAVE BIGGER ISSUES. I DON'T THINK YOU WILL EVER
REPLACE THE NEED FOR REAL LOVE AND HUMAN CONNECTION. ED: THAT WAS THE BUMBLE CEO TALKING ABOUT HOW CHATBOTS ARE NO SUBSTITUTE FOR A REAL DATE. TUNE IN TO THAT COMPETITION TONIGHT AT 10 P.M. EASTERN.
OKTA IS OUT WITH EARNINGS THAT BEAT EXPECTATIONS AND ANNOUNCING IT HAS RAISED ITS FOUR YEAR FORECAST. JOINING US FOR A COMPANY -- FOR A CONVERSATION, TODD MCKINNON. IT IS INTERESTING TO MEET SOME OF THE SIZES OF THE DEALS AND THE IMPACT THOSE DEALS HAVE HAD. EXPLAINED THE PSYCHOLOGY AND BEHAVIOR OF YOUR CUSTOMERS AND WHAT THEY ARE WILLING TO COMMIT TO. TODD: THANKS FOR HAVING ME. LARGE ORGANIZATIONS ARE SEEING THE VALUE OF IDENTITY, WHETHER IT IS A COMPANY LIKE ATT DATA USING OKTA TO SECURE THEIR WORKFORCE AND ALLOWING THEM TO ADOPT DIFFERENT TECHNOLOGIES, OR IT IS ONE OF THE BIGGEST CONSUMER PACKAGED GOODS COMPANIES IN THE WORLD THAT HAS DESPERATE BRANDS.
IDENTITY IS THE KEY TO THAT AND THESE COMPANIES, DESPITE UNCERTAINTY, ARE PUSHING FORWARD WITH THESE STRATEGIC PROGRESS -- STRATEGIC PROJECTS AND THE RESULTS ARE REFLECTED IN OUR BUSINESS. ED: THERE ARE SOME ANALYSTS THAT WERE DISAPPOINTED. YOUR REACTION? TODD: I THINK WE ARE BEING CAUTIOUS ABOUT THE ECONOMIC OUTLOOK. THERE IS STILL ECONOMIC HEADWIND IN THE TECHNOLOGY SECTOR AND WE ARE BEING PRUDENT ABOUT OUR FOR GUIDANCE TO MAKE SURE WE MANAGE THAT. OUR GROWTH WAS VERY STRONG IN THE QUARTER, 20% REVENUE GROWTH.
MOST IMPORTANTLY WE GENERATED ALMOST $50 MILLION OF CASH. WE HAVE PROVEN THAT IT IS SO EFFECTIVE THAT IN ANY ENVIRONMENT WE CAN GROW THE BUSINESS WITH PROFITABILITY. ED: NET RETENTION RATE IS SOMETHING OUR ANALYSTS LOOKED IN. WHAT IS DRIVING THAT IN A DOWNWARD TRAJECTORY? TODD: DID TICK -- IT DID TICK DOWN, BUT CUSTOMERS THAT BOUGHT IT ALL OR A YEAR AGO, THAT CUSTOMER IS PAYING US .50. THAT IS AN INCREDIBLE TESTAMENT TO SUCCESS.
THE PRODUCT INNOVATION WE HAVE DELIVERED WITHIN THE LAST FEW WEEKS WE HAVE ANNOUNCED OKTA FOR THE GLOBAL 2000 WHICH ALLOWS THE LARGEST ORGANIZATION TO FLEX THEIR BUSINESS STRATEGY. ANOTHER ONE IS OKTA DEVICE ACCESS WHICH SECURES THE ACTUAL LOG IN OF THE END COMPUTER ALL THE WAY THROUGH THE COMPANY'S ENTIRE INFRASTRUCTURE. THE BUSINESS IS STRONG AND CUSTOMERS ARE HAVING SUCCESS AND WE ARE EXCITED TO WORK WITH THEM. ED: I THINK HEARD YOU SAY AI ON THE CALL AND CHATGPT FOUR TIMES. WHAT IS THE AI STORY FOR OKTA? TODD: IN THE BIG PICTURE, OUR INDUSTRY AND OF THE WORLD HEIGHTS A LOT OF FISH WORLD -- THE WORLD HYPES A LOT OF THINGS. AI MAY BE UNDER-HYPRED.
YOU HAVE BREAKTHROUGHS WITH GB USE, COMPUTER SCIENCE BREAKTHROUGHS WHICH HAPPENED WITH TRANSFORMERS PAPER AND YOU HAVE A KILLER APP. YOU HAD A CHATGPT AND JUST TAKE OVER THE WORLD. THAT IS THE NETSCAPE MOMENT OF THIS REVOLUTION. TALK ABOUT THIS ECONOMY, WHAT
COULD GET THE ECONOMY IN TERMS OF TECH SPENDING AND REALLY DOUBLING DOWN IS THIS FOCUS ON AI. EVERY COMPANY I TALK TO IS THINKING ABOUT HOW THEY CAN BECOME AN AI COMPANY. IT IS SIMILAR TO THE LATE 90'S WHEN EVERY COMPANY HAD AN INTERNET STRATEGY. OKTA IS THE LOG IN FOR CHATGPT. THEY USE OUR CLOUD TO CONNECT CUSTOMERS TO CHATGPT. WHETHER IT IS OPENAI OR SCALE
AI OR RECURRENT CLI -- OR CURRENCY AI, WE ARE THE COMPANY FOR THESE INNOVATORS. ED: OKTA OFF SESSION HIGHS ARE STILL UP ON THE BEST DAY SINCE MARCH. TODD MCKINNON, THANK YOU SO MUCH. THAT DOES IT FOR THIS EDITION OF "BLOOMBERG TECHNOLOGY." RECAP ON OUR PODCAST, YOU CAN FIND ON THE TERMINAL AND ONLINE ON APPLE, SPOTIFY, AND I HOPE.
2023-09-02 12:33
