Bloomberg Technology 10/04/2023

>> FROM THE HEART OF WHERE INNOVATION, MONEY AND POWER TO LIVE IN SILICON VALLEY AND BLAKE -- AND BEYOND, THIS IS BLOOMBERG TECHNOLOGY WITH CAROLINE HYDE AND ED LUDLOW. CAROLINE: I AM CAROLINE HYDE. ED LUDLOW IS OFF. WE WILL GO LIVE TO THE MANHATTAN FEDERAL COURTHOUSE WHERE THE OPENING ARGUMENT IS SET TO BEGIN FOR SAM BRICKMAN FEET -- SAM BRICKMAN FREED -- SAM BANKMAN-FRIED'S TRIAL. THE NEW PIXEL IS MORE LIKE AN IPHONE. LET'S CHECK IN ON THE MARKETS AND AFTER YESTERDAY'S SELLOFF WHERE WE SAW BOND MARKET SELLOFF AND THE YIELDS HIGHER AND THE PRESSURE ON THE TECH STOCKS, WE HAVE A REVERSE. SOME OF THE BIG TECH HEAVYWEIGHT ON -- DOING A LEFTY -- DOING THE LIFTING ON THE DAY. THE ADP NUMBER SHOWING THAT

THERE IS SOFTENING IN THE LABOR MARKET AND MAYBE THE FEDERAL RESERVE -- AND MAYBE THE FEDERAL RESERVE ISN'T GOING TO HAVE TO GO SO HARD SO FAST. WE ARE SEEING BIG GOING FLAT ON THE DAY AS THE DOLLAR COMES DOWN FROM WHAT HAS BEEN A RAPID RUN UP. LET'S LOOK AT THE INDIVIDUAL PLAYERS. WE HAVE SEEN TESLA, THE OUTPERFORMER OF THE TOYS ON THE DAY. WE ARE SEEING PALANTIR HIGHER.

IT IS GETTING CLOSE TO CLINCHING THAT IMPORTANT DEAL WITH THE U.K. WITH THE NHS. ZOOM ON THE DOWNSIDE, ONE OF THE WORST PERFORMERS. IT HAS BEEN ANNOUNCED, SOME NEW PRODUCTS AND ANALYSTS WERE CRITICALLY OVERWHELMED WHEN THEY TRY TO COMPETE WITH THE MICROSOFT. LET'S GO BACK TO THE CRYPTO STORY. A JURY HAS BEEN SELECTED, OPENING ARGUMENTS ARE SAID TO

START TODAY FOR SAM BRICKMAN FREED'S TRIAL. HE IS ACCUSED OF ORCHESTRATING ONE OF THE BIGGEST FINANCIAL FRAUDS IN AMERICAN HISTORY. JOINING US IS BUT NOT -- JOINING US AS SONALI BASAK. -- JOINING US IS SONALI BASAK. SONALI: WE ARE JUST GETTING AN IDEA OF WHAT THE JURY WILL LOOK LIKE HERE. YOU ARE LOOKING AT A NURSE, A PHYSICIAN ASSISTANT, A SOCIAL WORKER WHO IS CURRENTLY UNEMPLOYED AND HAS PREVIOUSLY SERVED ON A JURY BEFORE AND YOU ARE LOOKING ALSO AT FOLKS WHO ARE RETIRED CORRECTIONS OFFICERS AND OTHER HIGH SCHOOL GRADUATES AND A MIX OF PEOPLE AND A NUMBER OF JURORS THAT HAVE BEEN QUESTIONED HERE OVER THE LAST 24 HOURS ABOUT WHETHER THEY HAD PRECONCEIVED NOTIONS ABOUT CRYPTOCURRENCIES. IN OTHER PARTS OF SAM BANKMAN-FRIED'S WORLD LIKE AFFECTIVE ALL TRUISM.

THAT IS ANOTHER THING THE JURY AS TO MAKE SURE THERE WON'T -- THERE WOULD NOT BE NEGATIVE VIBES COMING FROM THE JURY WITH SERIOUS CRIMINAL COUNTS BEING FACED BY SAM BANKMAN-FRIED. THE JURY HAS BEEN SELECTED AND WE KNOW GENERALLY WHO THESE PEOPLE ARE, WHAT THEY DO FOR A LIVING. HOW THEY HAVE BEEN QUESTIONED. OPENING ARGUMENTS POWER -- ARE

STARTING IMMINENTLY. WE WILL HEAR FROM THE PROSECUTION FOR THE FIRST TIME TO LAY OUT THEIR ARGUMENT AND WE DON'T KNOW HOW TO MAKE BEEN FREED FROM -- WE DON'T KNOW HOW SAM BANKMAN-FRIED PREPARES TO DEFEND HIMSELF AGAINST THE CHARGES AND WE WILL HEAR FROM HIM IN A SERIES OF OPENING REMARKS. CHARLIE: HE WAS PLEADING -- CAROLINE: HE HAS PLEADED NOT GUILTY. IT IS QUITE A CHANGE, SAM BY

CONFERRING -- SAM BANKMAN-FRIED, HE IS SLIMMER AND HE IS CHANGED FROM A HERE PERSPECTIVE BUT HOW HAS HIS DEMEANOR CHANGED? SONALI: IN A A LOT OF WAYS, A LOT OF PEOPLE HAVE TALKED ABOUT THE WAY HIS APPEARANCE HAS CHANGED AND HE WAS NOTICEABLY IN HER -- THINNER. HE IS BUYING SUITS FROM ACS AT A 40% DISCOUNT. HE WAS NO FOR THE T-SHIRT AND FLIP-FLOPS AND SHORTS BUT HE IS SUITED UP AS HE ENTERS COURT. WE WILL SEE -- WE DON'T KNOW IF HE WILL TESTIFY. HE IS NOT EXPECTED TO TESTIFY

AND WHAT TONE HE WOULD TAKE IF WE WOULD? MUCH MORE SILENT AND WE ARE NOT USED TO SAM BANKMAN-FRIED BEING SO SILENT LEADING UP TO THE CHARGES. YOU REMEMBER HOW MUCH HE HAD TAKEN TO THE MEDIA TO DESCRIBE WHAT HAPPENED TO FTX AND SINCE THEN, IT IS NOTHING BUT SILENCE AND IT WILL BE A TELLING TRIAL AND AFTER THE OPENING REMARKS, WE WILL HEAR FROM WITNESSES AND THAT WILL GET VERY IMPORTANT AS WE KNOW A NUMBER OF HIS CLOSEST FRIENDS AND COLLEAGUES OVER TIME ARE EXPECTED TO TESTIFY. CAROLINE: IMPORTANT FOR THE INDIVIDUALS AND FOR THE INDUSTRY, LIQUIDITY IN THE ASSET MARKETS ONLY HAVE WHAT IT WAS BEFORE THE FCX COLLAPSE --FTX COLLAPSE. YOU WILL GET THE OUTLOOK. WHAT WILL WE TALK ABOUT IF NOT CRYPTO? WE ARE TALKING ABOUT AI AND WHY THAT APPLE CEO TIM COOK DECIDED TO SELL SHARES OF APPLE? IT SEEMS TO BE TIMED WITH THE -- WE SALES OUTLOOK AND ANALYSTS ARE WORRYING ABOUT THE STOCK VALUATION AS A LARGE PREMIUM TO THE NASDAQ AND U.S. SALES ARE LIKELY TO STRUGGLE.

MANAGING TO TREAD WATER AT 3/10 OF A PERCENT WERE THE NASDAQ IS UP MORE THAN ONE PERCENTAGE CAROLINE: TIME FOR TALKING TECH. APPLE CEO TIM TOOK -- COOK SOME APPLE SHARES IN HIS BIGGEST SALE IN TWO YEARS. IT IS COMING AFTER HE TOOK A RARE PAY CUT, AROUND 40%. INTEL IS PLANNING TO MAKE ITS UNIT INTO A STANDALONE BUSINESS AND TAKE IT PUBLIC, THE PROGRAMMABLE CHIP BUSINESS WILL BE A INDEPENDENT ENTITY JANUARY 1 AND THIS IS PART OF THE EFFORTS TO BRING MORE VALUE --TO WRING MORE VALUE FROM THE COMPANY.

THE SOFTBANK FOUNDER, IT WAS HIS FIRST PUBLIC APPEARANCE. THE BILLIONAIRE COMPARED HUMANS WITHOUT AI TO GO FISH IN A BALL, UNABLE TO PROCESS INFORMATION LIKE LANGUAGE SO LET'S TALK ABOUT THIS AI EUPHORIA. AI NECESSITY. JAMES FISHBACK IS WITH US. YOU WERE MACRO INVESTING AT GREENBACK CAPITAL IN LEVEL WITH YOUR FOCUS ON ALL THE WAYS IN WHICH HE COULD GET LONG AI, IS IT ABOUT SMALLER COMPANIES OR BIGGER COMPANIES? JAMES: IT IS A REAL PLEASURE TO BE HERE. TO HIS POINT, MY NAME IS

FISHBACK. I AM THE GOLDFISH IN THIS EQUATION. I AM TRYING TO FIGURE THAT OUT BUT THE WAY TO LOOK AT THIS IS TO LOOK AT SOME OF THE COMPANIES THAT HAVE THE BEST BALANCE SHEETS, THE BEST MARKETS AND EXISTING USER WORKFLOWS AND ECOSYSTEMS AND MONETIZE ALL OF THAT. AT THE RISK UP SOUNDING LIKE GE -- STEVE JOBS -- AT THE RISK OF SOUNDING LIKE STEVE JOBS, THE TYPES OF COMPANIES ARE -- THAT YOU WANT TO LOOK AT ARE THE HYPER SCALARS COMBAT AMPLIFIERS OF THE TECHNOLOGY THAT CAN DEPLOY A DUTY EXISTING USERS AND DEVICES AND THE INNOVATORS, THOSE EITHER DEVELOPING OR DEPLOYING THOSE DEVELOPING.

THESE ARE NOT THREE SEPARATE COMPANIES IN MANY CASES. THEY ARE ONE COMPANY IN SEVERAL CASES. MICROSOFT IS ONE OF THEM AND GOOGLE AND AMAZON OR OTHERS AS WELL. IT IS A UNIQUE OPPORTUNITY TO OWN A STRONG CASH FLOW GENERATING BUSINESSES THAT OPERATE -- CAROLINE: IT REALLY SEEMS TO BE OWNED BY THE U.S. AT THIS TIME. WHEN YOU ARE THINKING ABOUT WHAT IS HAPPENING WITH MICROSOFT'S PARTNERSHIP WITH OPENAI, HOW DO YOU SEE THESE PRIMITIVE -- THESE FRENEMY'S CONTINUING? HOW DO YOU -- DOES THAT ACCELERATE? IS THAT THE WAY YOU WANT TO SEE DEALS BEING DONE? JAMES: THAT IS WHAT YOU WANT TO SEE, YOU WANT TO SEE KEY INNOVATORS OF THIS TECHNOLOGY LIKE ANTHROPIC, HAVE STRATEGIC PARTNERS IN AMAZON AND MICROSOFT TO DEPLOY THAT TECHNOLOGY. MICROSOFT, THERE ARE 65 COPILOT

PROGRAM IS OPEN ACCESS TO 160 MILLION ENTERPRISE USERS WHO CAN USE IT TO EXPEDITE WORKFLOWS IN MICROSOFT WORD, EXCEL AND POWERPOINT. YOU TAKE USERS WHO ARE ALREADY USED TO MICROSOFT WORD AND THE EXISTING WORKFLOWS THEY HAVE AND YOU ARE SUPERCHARGING IT. IF I WANTED TO GO TO AT FORTUNE 500 COMPANY AND TELL THEM FISHBACK AI AND SAY IT IS THE BEST WORD PROCESSOR OUT THERE, I COULD NOT DO THAT BECAUSE I DON'T HAVE THAT RELATIONSHIP.

MICROSOFT HAS THE RELATIONSHIPS AND THE TRUST AND THEY WILL DRIVE VALUE FOR ENTERPRISE PLAYERS AND THEY CAN DRIVE PRICING POWER LONGER-TERM. CAROLINE: DO YOU THINK THERE IS A RISK THAT ANY OF THESE REALLY BIG AND IN MANY WAYS, COMPANIES TRYING TO FIGHT THE MONOPOLY NAME BECKY IS BEING THROWN AT THEM? IS THERE ANY REST THEY GET DISPLACED AT THE SAME TIME AS THE.COM BOOM AND BUST IN THE SAME WAY WE SEE THIS IS MODELS ERODED, ARE THEY AHEAD OF THE CURVE? JAMES: YOU ARE RIGHT? THERE IS REASON TO BE SKEPTICAL BY WHAT HAPPENED IN EARLY 2000 WITH THE DOT-COM BUBBLE. THERE ARE A COUPLE KEY DIFFERENCES, ONE IS VALUATION, THE P VALUATIONS OF THE DOT-COM BUBBLE WAS 52 TIMES EARNINGS, THE AVERAGE AI TEXT OUT TODAY HAS A PE AROUND 25 TIMES AND THAT SIMILAR TEST SIMPLE COMPARISON IS TO SAY NOTHING ABOUT THE STRONG FUNDAMENTAL POSITION THESE COMPANIES ARE IN. THEY ARE 3 -- FREE CASH FLOW GENERATIVE. THEY DON'T NEED TO RELY ON DEBT

AND EQUITY MARKETS, A DEBT MARKET THAT IS SEEING RISING INTEREST RATES EVERY SINGLE DAY TO FIND THE AGGRESSIVE --TO FUND THE AGGRESSIVE R&D BEHIND THIS. GOOGLE WITH THE MIND AND ITS INTERNAL OPERATIONS TO POWER DISCORD AND THE THING I AM MOST EXCITED ABOUT IS THESE COMPANIES ALREADY HAVE EXISTING USERS THAT THEY CAN DEPLOY THIS NEW TECHNOLOGY TO OVERNIGHT. YOU DON'T HAVE TO MAKE A LOT OF ASSUMPTIONS HERE TO SEE HOW POWERFUL AND HOW IMPACTFUL THIS TECHNOLOGY CAN BE NOT JUST FOR THE END USER BEFORE THE FUNDAMENTAL SHARE PRICES. CAROLINE: IT HAS ALLOWED THE NASDAQ TO WEEK --REAP IN THE AWARDS -- REPORTS. HOW WE TAME INFLATION, HOW DO YOU THINK THESE BIG TECH BETS CAN WITHSTAND A HIGHER FOR LONGER SCENARIO? JAMES: IT IS A GREAT QUESTION AND THERE IS NO DOUBT ABOUT IT, THE MACRO PICTURE OVER THE PAST MONTH HAS BEEN CHALLENGING. LOOK AT WHAT HAS HAPPENED TO 30 YOUR TREASURY YIELDS IN THE U.S. AND THE HIGHER TEST THE HIGHER

FOR LONGER HAWKISH NARRATIVE FROM THE FEDERAL RESERVE. THE AI VIEW IS NOT A MULTI-QUARTER VIEW, IT IS A MULTI-YEAR VIEW. IF YOU LOOK AT THESE COMPANIES, THEY HAVE THE POTENTIAL TO COMPOUND AND FOR MICROSOFT, A COMPOUNDED 25% OVER THE PAST DECADE YEAR-OVER-YEAR DESPITE THE MACRO VOLATILITY IN THE REAL ECONOMY AND THE FINANCIAL SYSTEM. AT THE SAME TIME, IT IS IMPORTANT TO LOOK AT WITH THIS OPPORTUNITY PRESENTS LONG-TERM. A KEY ASSUMPTION IN THE SPACE THAT HIGHER RATES IS NEGATIVE FOR THIS TYPE OF NARRATIVE FOR BIG TECH GOING HIGHER. THAT CANNOT BE FURTHER FROM THE

TRUTH, COMPANIES LIKE APPLE THAT ISSUE 30 YEAR DEBT AT A MID TO PERCENTAGE RATE IN 2021 AND TURNED DOWN DEBT FOR 15 YEARS HAVE STRONG BALANCE SHEETS, ARE SEEING HIGHER RATES BUT ARE NOT SEEING HIGHER AFFECTIVE INTEREST COSTS BECAUSE THEIR LIABILITIES HAVE BEEN FIXED, THE LARGE ISSUANCE IN 2020 AND 2021 THAT WAS AIDED BY QUANTITATIVE EASING -- QUANTITATIVE EASING BY THE FED AND BY THEIR ASSETS THAT ARE INCREASING IN VALUE, IN THE CASE OF MARX, $100 MILLION BALANCE SHEET -- IN THE CASE OF MICROSOFT, $100 BILLION BALANCE SHEET -- DEVELOP A LONGER-TERM VIEW OF WHERE AI WILL BE IN FIVE YEARS. CAROLINE: REALLY THOUGHTFUL. THANK YOU FOR LAYING THAT OUT FOR US, JAMES FISHBACK. WE WILL GET THE LATEST ON THE MICRO DETAILS OF GOOGLE'S BRAND-NEW PIXEL LINE. SHENAZ ZACK WILL BE WITH US. DIRECTOR, POTTER -- DIRECTOR AND PRODUCT MANAGEMENT FOR WHO WILL. CAROLINE: WE NOTE THAT ALPHABET'S GOOGLE HAS GONE HEAD WITH APPLE FOR MANY YEARS BUT IT FEELS HEAD ON RIGHT NOW, THE NEW PIXEL PHONES ARE MORE IPHONE LIKE THAN EVER BEFORE. MARK GURMAN, WHO HAS ALL THE INSIDE TRACK AROUND THESE PRODUCTS, GIVE US YOUR THOUGHTS.

WHAT DID YOU MAKE OF THE UPDATES, THE CAMERA AND THE WAY THEY LOOK AND FEEL? MARK: I THINK GOOGLE IS CONTINUING TO PUSH OUT PRETTY IMPRESSIVE AI DRIVEN CROP -- PRODUCTS, THE NEW PIXEL PHONES, THE PIXELATE, IMPRESSIVE NEW CAMERA FEATURES, A G3 TENSOR PROCESSORS AND A FEW UPGRADES THAT MAKES IT LOOK LIKE A IPHONE AND THE FACIAL RECOGNITION ON THE PREVIOUS PIXEL PHONES, THEY WERE NOT GREAT SECURITY WISE, HIGH ENOUGH TO BE PROCESSED FOR PAYMENT USING THE BANKING APPS. THEY UP TO THE SECURITY FOR THAT. THE DESIGN OF THE PIXEL PHONE CONTINUES TO BE SOME OF THE BEST SMARTPHONE DESIGNS OF THE MARKET BUT THE TREND CONTINUES, GOOGLE IS PUSHING OUT NIGHT -- NICE HARDWARE AND PROBABLY SOME OF THE BEST ANDROID PHONES YOU CAN GET GLOBALLY BUT THAT HAS NOT TRANSLATED INTO STRONG AMOUNTS ON MARKET SHARE. THAT IS THE PROBLEM GOOGLE WILL GRAPPLE WITH AT LEAST FOR THE FORESEEABLE FUTURE, MAKING GOOD PHONES AND HARDWARE PRODUCTS THAT ARE NOT SELLING AS WELL AS THEIR COMPETITORS FROM SAMSUNG AND APPLE. THAT IS WHAT GOOGLE HAS TYPICAL -- FIGURE OUT. THEY HAVE THE RIGHT HARDWARE, HOW CAN THEY SELL THEM AT BIGGER QUANTITIES? CAROLINE: GOOGLE HAS 3% OF THE SMARTPHONE SHIPMENTS IN THE SECOND QUARTER.

GREAT ANALYSIS FROM MARK GURMAN, WE THANK YOU AS ALWAYS FOR RUNNING US THROUGH ON WHAT THE PRODUCT IS LIKE AND HE LIKED IT AND LET'S TALK ABOUT THE PRODUCT. SHENAZ ZACK IS WITH US. YOU ARE FRESH OFF THE STAGE WHERE YOU PRESENTED WHAT ARE THESE BIG UPGRADES TO THE FORM. I HAVE HAD PIXELS AND IPHONES AND I AM INTERESTED TO WHETHER YOU LIKE OR DISLIKE THE IDEA OF IT COMING MORE OF AN IPHONE. SHENAZ: I WOULD NOT COMPARE THAT BECAUSE I THINK PIXEL ARE THE BEST PHONES FOR GOOGLE, ESPECIALLY BRINGING THE HARDWARE AND THE SOFTWARE AND THE BEST OF AI FROM GOOGLE INTO PEOPLE'S HANDS. THAT IS HOW WE THINK ABOUT OUR

PHONES, IT IS BRINGING THE BEST OF GOOGLE IN PEOPLE'S HANDS. CAROLINE: WHAT ABOUT THE BEST OF AI, IT SEEMS TO BE SOMETHING WE ARE REFERENCING FAR MORE IN PRODUCT THE THREAT -- DETAIL. THE CONSUMER UNDERSTANDS IT. HOW WILL THAT BE INTERWOVEN TO MAKE IT AN EASIER PRODUCT TO USE? JON: WHEN PIXEL STARTED SEVEN YEARS AGO, --SHENAZ: WHEN PIXEL STARTED AI -- SEVEN YEARS AGO, AI WAS A CORE PRODUCT AND WE CONTINUE ON THAT LINE AND WE HAVE AI WITH US WITH OUR TENSOR G3 ACROSS THE PHONE. CAROLINE: IT IS INTERESTING, YOU HAVE PUSHED UP THE PRICE POINT, THE IPHONE 13 PRO THE SAME AS THE PIXEL APRIL. $999. IS THE CONSUMER READY FOR THAT PRICE POINT? HOW DO YOU TEST AND FIELD THAT IS THE RIGHT AMOUNT TO CHARGE? SHENAZ: THERE IS A LOT OF TESTING BUT WE HAVE UPGRADED THE HARDWARE, WE HAVE A COMPLETELY NEW CAMERA SYSTEM AND HE HAD A LOT OF SOFTWARE AND WE ARE SUPPORTING THE PHONES FOR SEVEN YEARS OF SUPPORT AND SECURITY FEATURES.

CAROLINE: IT IS INTERESTING THAT YOUCAROLINE: GO SUPPORTING FOR LONGER SO PEOPLE MAY NOT BE TO RENEW FOR LONGER, HOW DO YOU START TO INCH AWAY AT THE MARKET SHARE THAT IS SURPRISINGLY LOW CONSIDERING THE INTEGRATION OF SOFTWARE AND HARDWARE? SHENAZ: FROM PIXEL AND GOOGLE'S PERSPECTIVE, WE WANT PEOPLE TO USE THEIR PHONE LONGER AND WE SEE THAT PEOPLE ARE USING THEIR PHONE LONGER. SUSTAINABILITY IS IMPORTANT. BEST SUPPORT WAS NATURAL FOR US TO HELP OUR USERS SUPPORT THEIR PHONES FOR A LONGER PERIOD OF TIME. >> OVERALL, WHEN YOU THINK ABOUT SOME OF THE NATCHEZ SUSTAINABILITY BUT SECURITY THAT PEOPLE WANT TO BE SEEING -- SOME OF THE NOT JUST SECURITY FOR SUSTAINABILITY THAT PEOPLE WANT TO BE SEEING -- WHAT GOES INTO NEEDING TO ENSURE THAT YOU CAN QUALIFY FOR THOSE LEVELS OF SECURITY? SHENAZ: IN TERMS OF THE PHONE, OUR PHONES ALWAYS WERE SECURE. WE HAD A TITAN CHIP AND SECURITY WAS SUPPORTED FOR FIVE YEARS SO WE ARE UPPING THAT TO SEVEN YEARS AND WE ARE ONE OF THE MOST SECURE PHONES OUT THERE. CAROLINE: WHAT DO YOU THINK IT WILL TAKE TO GET THE MARKET SHARE HIGHER? WHY DO YOU THINK THERE HAS BEEN RETICENCE? HAS THERE BEEN BECAUSE PEOPLE ARE USED TO THE IPHONE ECOSYSTEM, IT IS HARDER TO DRAG THEM OUT? IT IS THAT YOU FOCUS ON A INTERNATIONAL CONSUMER AND YOU MAKE REAL INROADS ON JAPAN. SHENAZ:

PIXEL IS THE FASTEST-GROWING SMARTPHONE IN THE MARKET AND IT IS THE ONLY PHONE THAT GREW IN UNITS IS -- SOLD YEAR-OVER-YEAR AND WE ARE LOOKING OVER TO MARK THAT WITH AI FEATURES AND THE AMAZING HARDWARE AND SOFTWARE. CAROLINE: HOW ARE YOU THINKING INTERNATIONALLY ABOUT THE SUPPLY CHAIN? SHENAZ: IN TERMS OF SUPPLY, YOU MENTIONED THAT PIXEL IS AVAILABLE IN INTERNATIONAL MARKETS AND JAPAN SO THAT IS A CORE FOCUS ON HOW DO WE MAKE SURE USERS ACROSS THE ROAD IN OUR MARKETS ARE GETTING OUR PHONES. CAROLINE: WHAT ABOUT BUILDING THE PHONE BECAUSE THERE IS AN APPLE WHERE THEY HAD TO RETHINK WHERE THERE WERE PRODUCT IS MADE IN THIS GLOBAL LANDSCAPE WHERE CHINA AND THE U.S. ARE GETTING ALONG IN THE SAME WAY. HOW DO YOU THINK ABOUT SUSTAINABILITY AND SUPPLY CHAIN RESILIENCE? SHENAZ: SUSTAINABILITY IS A BIG FOCUS AND IT HAS BEEN YEARS IN THE MAKING. AS WE ANNOUNCED ON STAGE, ON SUSTAINABILITY, THIS IS THE FIRST PHONE FREE OF PACKET -- PLASTIC. SUSTAINABILITY, WHERE AND WHEN

IT IS MAY IS A KEY FOCUS FOR US. CAROLINE: A LOT OF THIS IS FOCUS ON THE ENTIRE ECOSYSTEM, NOT JUST THE SUPPLY CHAIN BUT WHAT YOU'RE OFFERING WITH THE EARBUDS AND WATCH AND WHAT YOU CAN TRACK ACROSS ALL THE SOFTWARE AND YOU HAVE BEEN AT GOOGLE FOR 17 YEARS. WHAT IS IT THAT MAKES YOU SO ADDICTED TO CONTINUING TO BUILD WITH THIS COMPANY? SHENAZ:SHENAZ: THE PEOPLE, I HAVE BEEN AT GOOGLE FOR SEVEN AND I GREW UP WITH GOOGLE AND IN MY SOUND CLICHE BUT I DO LOVE THE PEOPLE THAT I WORK WITH. THEY PUSH YOU TO THINK WELL, THEY PUSH YOU TO DO THE RIGHT THING AND THAT IS WHAT I ENJOY ABOUT WORKING AT GOOGLE, THE PEOPLE AROUND US. CAROLINE: ONE THING ABOUT YOUR PRODUCT, THANK YOU FOR JOINING US. WE HAVE THE DIRECTOR OF PRODUCT MANAGEMENT FOR PIXEL AT GOOGLE. SHENAZ:SHENAZ:

THANK YOU FOR HAVING ME. WE WILL --CAROLINE: WE WILL TAKE A POST OF THEVC INDUSTRY -- WE WILL TAKING A PULSE OF THE VC INJURY -- INDUSTRY. WE WILL HAVE ELGIN BAYLOR -- MORGAN BALLER JOINING US. --MORGAN BELLER JOINING US. THIS IS BLOOMBERG. ♪ CAROLINE: WELCOME BACK TO BLOOMBERG TECHNOLOGY. LET'S GET YOU UP TO SPEED WHERE THE MARKETS ARE BECAUSE WE ARE BOUNCING BACK AFTER YESTERDAY'S 1.8% DROP ON THE NASDAQ 100 AND WE ARE BACK UP 1.1%.

THE JOBS THEY COULD -- THE JOBS DATA PLAN HOT YESTERDAY AND RUNS COOLER TODAY AND DOES THAT MEAN WE ARE DRIVING BACK AND IS THE PACING -- DRIVING BACK ANTICIPATION ON HOW FAR FEDERAL RESERVE HAS TO BOW BACK RATES -- HAS TO DIAL BACK RATES. IT IS BIG TECH DOING THE BETTER -- HEAVY LIFTING, THE TWO-YEAR YIELD SCREAMS LOWER AND THAT IS THE PRESSURE POINT AND THIS HAS BEEN THE ANXIETY WE HAVE THROUGH THE PAST THROUGH -- FEW DAYS. HAVING A LOOK WHAT IS HAPPENING. IT IS BITCOIN AND I AM SEEING IT TREADING WATER UP A QUARTER OF A PERCENTAGE POINT AND THE U.S. DOLLAR EASING OFF A LITTLE BIT. THIS HAS BEEN RANGE BOUND, SEEING 27,000 OF THE LEVEL OF BITCOIN. WE KNOW THE PRETTY HAS BEEN FAR

THINNER THAN IT WAS A YEAR AGO AND WE ARE THINKING ABOUT CRYPTO GIVEN THE START OF SAM BANKMAN-FRIED'S TIME IN COURT. LET'S TURN OUR ATTENTION TO THE VC SPOTLIGHT AND BRING IN MORGAN BELLER WHO WAS ONE OF THE FOUNDERS OF FACEBOOK'S CRYPTOCURRENCY PROJECT. SHE WAS BUILDING ONE OF THE FIRST STABLECOINS AND YOU HAVE WRITTEN OUT THE HIGHS AND THE LOWS OF HOW CRYPTO MORE BROADLY IS SEEN, NOT ONLY BY CONSUMER BUT BY A REGULATOR IN THE U.S.. AS WE START TO SEE THE TIME WITH SAM BANKMAN-FRIED IN COURT, THE PAIN POINTS RELIVED, HOW ARE YOU FEELING ABOUT THE CRYPTO SPHERE? IS THERE ACTIVITY GOING ON FOR TICKLY IN THE START OF COMMUNITY -- STARTUP COMMUNITY? MORGAN: I HAVE A POTENTIALLY NOT POPULAR OPINION ON THIS BUT I AM SO MUCH HAPPIER INVESTING IN CRYPTO TODAY AND I WAS 12 MONTHS AGO -- TODAY THAN I WAS 12 MONTHS AGO EVEN BEFORE THE FTX SCANDAL. THE QUESTION I ASKED OTHER CRYPTO FOUNDERS, YOU THINK THERE IS A CHANCE THAT WE LOOK BACK ON THE FTX MASS AS A POSITIVE AND PEOPLE LOOK AT ME LIKE I HAVE -- LIKE I HAVE FIVE YEARS -- FIVE HEADS. IT WAS CRAZY OUT THERE.

THE LAWS OF GRAVITY WERE THOUGHT TO NOT APPLY TO CRYPTO STARTUPS AND WENT FTX FORCED PEOPLE IN THE CRYPTO INDUSTRY TO ASK OURSELVES AND ANSWER WERE THREE QUESTIONS THAT WE SHOULD HAVE BEEN ASKING REGARDLESS WHICH IS, DOES THIS COMPANY SOLVE A PROBLEM FOR ANYONE OR THIS PRODUCT? IS ANYONE USING THIS? THREE, WILL THIS MAKE MONEY? THERE WERE SO MANY COMPANIES AND THERE ARE SO MANY THAT WERE FUNDED AND ARE FUNDED AND DO NOT ANSWER ONE OF THOSE THREE QUESTIONS, LET ALONE THREE OF THOSE THREE QUESTIONS. THE PARTY THAT WAS GOING ON HAD TO COME TO AN END, THE FTX WAY OF IT COMING TO BE END WAS THE MOST DRAMATIC WAY IT COULD HAVE HAPPENED BUT I THINK THERE IS A CHANCE IT ENDS UP BEING A GIFT FOR THE CRYPTO STARTUP WORLD FOR THE COMPANIES THAT ARE SELLING REAL -- THAT ARE SOLVING REAL PROBLEMS. CAROLINE: WE WANT CONTRARIANS AND I AM INTERESTED IN EVEN IF THIS HAPPENS TO BE A CAR STARTED MOMENT FOR CRYPTO BROADLY, ARE THE BUILDERS BETTING IN THE U.S.?

ARE THE PROBLEMS BEING SOLVED, IS THE MONEY BEING MADE? OUR PEOPLE USING SOME OF THE APPLICATIONS IN THE U.S. HAPPEN TO GO ABROAD? MORGAN: YES AND WE ARE SEEING COMPANIES BUILT IN THE U.S.. WHAT YOU SAW PRE-FTX WAS EVERYONE AND THEIR BROTHER AND SISTER WAS STARTING A CRYPTO COMPANY. WHAT HAS BEEN FILTERED OUT, PEOPLE STARTING CRYPTO COMPANIES ARE ONLY STARTING THEM BECAUSE THEY SEE A PROBLEM TO SOLVE AND HAVE A PASSION FOR THE INDUSTRY VERSUS THEY JUST SEE A CASINO THAT LOOKS FINE. THERE IS A FILTER IN A GOOD WAY FOR THOSE WHO ARE STARTING COMPANIES AND PEOPLE ARE USING CRYPTO APPLICATIONS BUT IF WE ARE BEING HONEST, THE ONLY APPLICATION THAT IS ACHIEVED -- HAS ACHIEVED ANY KIND OF MARKET FIT TO SCALE IS FOR, AND A THEATER -- AND A THEORY STABLECOINS -- IS BITCOIN AND ETHEREUM STABLECOINS. CAROLINE: MORGAN, LET'S MOVE AWAY FROM THAT TO THE REGULATORY ENVIRONMENT WITH WHICH WE ARE IN BECAUSE YOU DO HAVE A FTC CHAIR THAT SEEMS ADAMANT TO POLICE WHETHER IT IS AFTER THESE COMPANIES ARE BUILT ARE AS THEY ARE BEING BUILT AND I AM INTERESTED AS TO WHETHER THAT IS AN ENVIRONMENT THAT PEOPLE WANT TO FIND PRODUCT MARKET FIT.

>> IT IS A ENVIRONMENT THAT PEOPLE WANT TO FIND PRODUCT MARKET FIT IN IF THERE IS A MARKET EMPHASIS TO BE BUILT BUT IT IS A THORN FOR SURE. AN ISSUE IS THEY ARE VERY FEW TOPICS THAT RALLY BOTH SIDES AND THEN AGAIN YOU FAVOR ON BOTH. IF YOU ARE A POLITICIAN, YOU ARE TRYING TO WIN FAVOR ON BOTH SIDES, GOING AFTER CRYPTO IS ONE OF A FEW CATEGORIES THAT NO ONE IS GOING TO OPPOSE YOU. THE INCENTIVES AND THE PSYCHOLOGY BEHIND IT ARE NOT IN CRYPTO'S FAVOR WHICH IS A BUMMER. CAROLINE: WELL PUT. [LAUGHTER] TECHNICAL TERM. GET NITTY-GRITTY WITH SOME OF THE PROBLEMS YOU LIKE TO BE SOFT. -- SALT --SOLVED.

FX HAS A LOT OF MONEY TO PUT TO WORK AND YOU PUT MONEY INTO VARIOUS STARTUPS, WHETHER IT IS BASED, WHETHER ALSO IN -- RAMP IS A COMPANY ABOUT TRADING INCOME AND ASSETS, WHERE DO YOU SEE -- MORGAN: STABLECOIN, I SPENT FOUR YEARS BANGING MY HEAD AGAINST THE WALL SO I THINK THERE IS MORE TO GO, MORE FROM THE U.S. GOVERNMENT BUY IN SIDE AND IF YOU THINK THAT THERE'S NO MONEY IS GOING TO BE THE U.S. GOVERNMENT NEEDS TO RECOGNIZE THAT AND GET ON THAT OR ELSE WE WILL WAKE UP AND LIVE IN A WORLD WHERE CHINESE DIGITAL MONEY RUNNING THROUGHOUT THE WORLD IN PEOPLE'S HANDS. I DON'T THINK THAT IS THE FIRST CHOICE FOR US IN THE U.S. AND USABILITY, BUT YOU HAVE SEEN WITH AIS CHATGPT HAD THIS MOMENT -- WITH AI'S CHATGPT HAD THIS MOMENT WITH CONSUMERS AND CRYPTO HAS NOT HAD THAT MOMENT. SOMETHING THAT BRINGS USERS

INTO THE ROAD IN A MEANINGFUL AND PRODUCTIVE WAY IS THE HOLY GRAIL AND I DON'T HAVE SPECIFIC -- ANSWERS. THAT IS SOMETHING I AM HOPING FOR. CAROLINE: MORGAN BELLER, I HOPE YOU COME BACK SOON, GREAT TO HAVE TIME WITH YOU. THERE'S SOMETHING WE ARE WATCHING, FOUNDERS OF DELIVERY COMPANIES WORLDWIDE, HAVE THEY EXPLODED, IN TERMS OF GETTING -- GIVING -- GETTING BIGGER? INSTACART AND DOORDASH HAVE LOST $15 BILLION. ALL THAT IN TERMS OF OVERALL

MARKET VALUATION. LET'S TALK ABOUT HEALTH CARE TECH. THE STARTUPS, THEY ARE MERGING TO DRIVE VALUE FOR -- USING THE POWER OF AI AND WE HAVE A CONVERSATION WITH TODAY TENDED, --TANAY TANDON.

THIS IS BLOOMBERG TECHNOLOGY. ♪ CAROLINE: TAKING A LOOK AT PALANTIR SHARES BECAUSE THE DATA ANALYSIS FIRM WAS CLOSING IN ON CONTRACT WITH THE NHS. IT COULD BE A FIVE YEAR AGREEMENT WHICH IS DESIGNED TO HELP DETECT SPECIFIC -- SUSPICIOUS PATTERNS AND HELP OVERALL THEIR SYSTEM. THE GOVERNMENT IS ANNOUNCING -- IS PREPARED TO ANNOUNCE THAT PALANTIR IS THE HIGHEST BIDDER IN THE NEXT MONTH. TWO HEALTH CARE STARTUPS ARE FORGING A NEW PATH, USING ARTIFICIAL INTELLIGENCE. DIGITAL PLATFORM COMMURE AND ATHELAS, WHICH BILLS REMOTE PATIENT TECHNOLOGY WILL COMPLETE A MERGER AT THE END OF THE MONTH AND JOINING US IS THE CEO OF COMMURE TANAY TANDON.

TODAY, ULTIMATELY, YOU ARE TRYING TO USE AI TO MAKE HEALTH CARE MORE EFFICIENT IN THE SAME WAY THAT PALANTIR MIGHT DO WITH THAT NHS? TANAY: THAT IS RIGHT AND I AM IMPRESSED THAT YOU GOT THE LORD OF THE RINGS REFERENCE, MOST PEOPLE DON'T BUT WE ARE TAKING THE -- ONE OF THE BIGGEST POINTS IN HEALTH CARE, A DISPARATE -- AND TONS OF MANUAL WORK, THE DOCTORS AND ADMINISTRATORS DO EVERY DAY AND SUPERCHARGE THAT WITH LARGE LANGUAGE MODELS TO AUTOMATE WORKFLOWS. CAROLINE: WHAT EVERYONE IS SLIGHTLY CONCERNED ABOUT WITH PALANTIR AND THE NHS IS DATA AND DATA SHARING AND THE KNOWLEDGE. HOW ARE YOU MAKING SURE THAT FROM THE GET-GO, THE USERS, AT THE END OF THIS FEEL SECURE ABOUT THE SECURITY OF THEIR DATA? TANAY: IT IS A NONNEGOTIABLE. IF YOU LOOK AT HEALTH CARE, IT COMES DOWN TO MAKING THAT -- AND WORKING FORWARD FROM THERE, AT THE END OF THE DAY, IT WILL DRIVE VALUE FOR DOCTORS AND CLINICIANS AND PROTECTING PATIENT IN -- INFORMATION. CAROLINE: I WAS GOING TO SAY, DRIVING VALUE, THE BASIS THAT IS REVIEWED TOGETHER AND SOME OF YOUR PC BACKERS THINK YOU WILL HAVE VALUE AND YOU HAVE TO COMBINE -- A COMBINED VALUATION OF $6 BILLION. TALK ABOUT THE REVENUE STREAMS, HOW WILL YOU BUILD TO MAKE SURE YOU CAN WIN BUSINESS IN A PROFITABLE MANNER? TANAY: THE EXCITING THING ABOUT HEALTH CARE IT IS 20% OF U.S. GDP.

COMMURE DEALS WITH BILLIONS OF DOLLARS WORTH OF APPOINTMENTS EVERY SINGLE YEAR AND THIS IS A SMALL PERCENTAGE OF THE TOTAL DOLLARS WITH THE HEALTH CARE SYSTEM AND WHAT IS EXCITING IS THAT WE CAN USE SOFTWARE. IT CAN AUTOMATE WORKFLOWS AND DRIVE APARTMENT -- A PROFIT MARGIN FOR HEALTH SYSTEMS AND TAKE A SMALL CUT OF THAT TO GROW PROFITABILITY FOR OUR OWN BUSINESS. CAROLINE: HOW DID THIS MERGER COME ABOUT, IT HAS TO DO WITH GENERAL CAPITALISTS BACKING BOTH EU? -- BOTH OF YOU? TANAY: THIS MERGER HAS BEEN A LONGTIME COMPANY. I KNOW ONE PERSON FOR SEVEN YEARS AND HE KNEW ME BEFORE I DROPPED OUT OF SCHOOL. THESE TWO COMPANIES SERVE SIMILAR CUSTOMERS AND ONE HAS A DATA PLATFORM THAT SAVES TIME AND THE OTHER BUILDS LARGE MEMBERS MODELS -- LANG WHICH MODELS ANY PUT THEM TOGETHER AND YOU GET MAGIC. CAROLINE: TALK ABOUT THE LARGE LANGUAGE MODELS THAT WILL BE PART OF THE MAGIC, THERE IS HANDWRINGING AROUND AI AND HOW IT DISRUPTS AND PRODUCES -- AND BOOSTS PRODUCTIVITY BUT HOW YOU REGULATE IT.

ARE YOU -- ARE YOU -- HOW ARE YOU MANAGING TO -- TANAY: THERE IS A LOT OF NOISE AT THE LLM SPACE BUT THERE ARE A LOT OF SIGNALS. IT SAVED THEM A COUPLE HOURS THAT SINGLE DAY AND A DOCUMENTATION SO FOR US, LANGUAGE MODELS ARE TOOL TO ACCOMPLISH AN END GOAL RATHER THAN THE GOAL ITSELF AND BUSINESSES THAT USE THEM AS A POWERFUL SOFTWARE OUT AMAZING TOOL WILL CONTINUE TO GROW AND SERVE THEIR CUSTOMERS IN A VERY UNIQUE AND NOVEL WAY GO --WAY. CAROLINE: GO IN ON THE UNIQUE AND NOVEL BECAUSE THERE HAS BEEN STARTUPS LOOKING TO TACKLE HEALTH CARE WITH THE POWER OF AI AND WE ARE SEEING PALANTIR TAKEN ON -- TAKING ON THE NHS. WHAT IS DIFFERENT? TANAY: WE HAVE HCA HEALTH CARE ON OUR BOARD AND ONE OF OUR LARGEST CUSTOMERS AND WE HAVE THOUSANDS OF SMALL BUSINESSES IN TERMS OF SMALL PRACTICES, PRIVATE DOCTORS, SOLO PRACTICES ON THE PLATFORM.

THE BREADTH OF APPOINTMENTS AND THE SHEER VOLUME OF APPOINTMENTS WE ARE PROCESSING IS UNIQUE AND THAT THE PARTNERSHIP WITH LEGACY HEALTH CARE, WE ARE NOT TRYING TO DISRUPT BUT EMPOWER THEM. CAROLINE: ONE OF YOUR POST MERGER BEING? DO YOU HAVE TO CUT DOWN PEOPLE, HOW DO YOU ENSURE YOUR MARGIN FOCUS, REVENUE BOOSTING AT A TIME WHERE THAT IS WHAT VCS WANT TO SEE? TANAY: WE HAVE MANY YEARS AGO AND WE HAVE FIVE PLUS YEARS OF RUNWAY INDEPENDENTLY ON A DRIVE TO GO PUBLIC -- AND BRINGING THEM TOGETHER ACCELERATES THAT PAT AND I THINK WE WILL BE ONE OF THE BIGGEST HIRERS IN THE NEXT YEAR IN HEALTH CARE AND SOFTWARE SO HOPEFULLY A HOME FOR MANY FOLKS THEY GOT LAID OFF IN THE LAST YEAR. CAROLINE: YOU ARE BUSY RAISING MONEY. I AM LOOKING AT WHAT SEQUOIA GENERAL CAPITALISTS MENTION AND NVIDIA, I AM INTERESTED ABOUT HOW IF THERE IS FEAR IS COMPETITION FOR COMPUTE, CHIPS AND ACCESS TO BUILD THESE LARGE LANGUAGE MODELS. HOW MUCH IS THAT A HANGUP FOR

YOU? TANAY: THIS IS A DEFINED MOMENT FOR COMPUTING AND WHAT NVIDIA HAS UNLOCKED IS A NEW FORM A METRIC IN TERMS OF SOFTWARE AUTOMATIONS AND THEY WILL MAKE A LOT OF MONEY BUT SO WILL OTHER GREAT COMPANIES. MICHAEL AS THE CEO IS TO LEVERAGE THE POWER OF THE MODELS TO DO THINGS POSSIBLE -- THAT WERE NOT POSSIBLE FOR. -- BEFORE. CAROLINE:

QUICK TO SPEND TIME, TANAY TANDON CEO OF COMMURE. LET'S TAKE A TIME -- A SUMMER OF STRIKES. MORE THAN 75,000 KAISER PERMANENTE WORKERS IN SIX STATES HAVE TAKEN TO THE PICKET LINES. THE THREE DAY STRIKE IS

EXPECTED TO SHUT DOWN SERVICES FOR NON-EXTENSIONAL -- ESSENTIAL SERVICES FOR 30 MILLION PEOPLE. COMING UP, MORE ON GOOGLE'S LATEST ANNOUNCEMENTS WITH A FOCUS ON HEALTH. WE WILL BE JOINED BY JAMES PARK. FITBIT GENERAL MANAGER. THIS IS BLOOMBERG TECHNOLOGY.

CAROLINE: LET'S GET BACK TO GOOGLES ANNOUNCEMENTS. IT IS NOT ALL ABOUT THE PIXEL LINEUP BECAUSE THE COMPANY ALSO WANTS TO COMPETE WITH APPLE AND MANY MORE HEALTH TRACKERS AND WATCHES. WITH THE PIXEL WATCH 2, IT INCLUDES A QUALCOMM CHIP AND IT IS LIGHTER AND LET'S BRING IN JAMES PARK. WHAT IS THE OFFERING YOU HAVE DIFFERENT FROM OTHER THINGS ON THE MARKET? JAMES: GREAT QUESTION AND ONE OF THE KEY THINGS WE WANTED TO DO WAS IMPROVE UPON THE GREAT THINGS WE DID IN THE FIRST GENERATION PIXEL WATCH. WE INTRODUCE A NEW PROCESSOR WHICH MAKES THE PERFORMANCE A LOT SILVER AND SNAPPIER AND IT IS VERY NOTICEABLE FOR OUR USERS. WE DRAMATICALLY IMPROVE THE BATTERY LIFE AS WELL. -- IMPROVED THE BATTERY LIFE AS

WELL. BUT THE ALWAYS -- 24 HOUR DISPLAY ON, WE OFFER -- ONE OF THE MOST IMPORTANT ASPECTS OF THE GOOGLE PIXEL WATCH TWO ARE ITS SAFETY AND HEALTH FEATURES SO WE HAVE THIS FEATURE CALL SAFETY CHECK. YOU CHECK IN AND IF YOU DON'T CHECK IN AFTER A CERTAIN PERIOD OF TIME, YOUR LOCATION WILL BE AUTOMATICALLY SHARED WITH YOUR EMERGENCY CONTACT SO IT GIVES YOU THE PEACE OF MIND. WE INTRODUCED THREE NEW HEALTH CENTERS -- CENTERS, INCLUDING SKIN TEMPERATURE AND DRAMATICALLY IMPROVED HEART RATE WITH 30% MORE ACCURACY AND A NEW SENSOR CALLED RESPONSE TO HELP YOU MANAGE STRESS. THERE ARE A LOT OF IMPROVEMENTS THAT WE ARE EXCITED ABOUT. CAROLINE:

WHO IS YOUR TYPICAL BUYER? I AS A PARENT ARE LOOKING AT THE WORLD OF SMART WATCHES TO ENSURE MY CHILDREN ARE SAFE BUT WHO IS THE PURCHASER AND WEARER OF THIS? JAMES: IT IS ANYONE AND EVERYONE WHO IS INTERESTED IN IMPROVING THEIR FITNESS LEVELS AND HAVING A GREAT COMPANION TO THEIR PHONE. THE PIXEL WATCH TWO NOW ONLY COMBINES HELPFULNESS FEATURES LIKE GOOGLE MAPS AND WALLET, BUT A LOT OF GREAT AND HEALTH -- GREAT HEALTH AND FITNESS FEATURES. CAROLINE: I KNOW IT IS FRUSTRATING ON A DAY WHERE YOU ARE ANNOUNCING THE SECOND VERSION BUT WHAT DOES HEALTH AND HEALTH WEARABLES LOOK LIKE IN THE NEXT TWO YEARS? MANY HAVE BEEN HOPING FOR BLOOD -- BLOOD GLUCOSE MONITORING. HOW ARE YOU TRYING TO BE AHEAD OF THE CURVE? JAMES: YOU CAN SEE FROM THE LEAP FROM THE GOOGLE PIXEL WATCH ONE TO THE GOOGLE PIXEL WATCH TWO, THERE IS A CONTINUAL SPECTRUM OF IMPROVEMENT, FROM GENERAL HELPFULNESS TO HEALTH AND SAFETY FEATURES AND WHAT I IMAGINE FOR THE FUTURE IS THAT, THESE DEVICES, WHETHER THEY ARE TRACKERS OR SMART WATCHES, THEY ARE GOING TO BE ESSENTIAL COMPONENT OF PEOPLE'S LIVES AND IT SHOULD BE SOMETHING THAT YOU DON'T WANT TO LEAVE HOME WITHOUT ONE BECAUSE THEY CAN MASSIVELY IMPROVE YOUR LIFE OR THEY CAN HELP SAVE YOUR LIFE IN THE FUTURE. OUR WATCHES HAVE A RHYTHM THAT

HELPS DETECT IRREGULAR HEART EVENTS. ALL OF THESE THINGS BRING A LOT OF HELPFULNESS AND UTILITY TO PEOPLE. CAROLINE: WHAT ARE SOME OF THE BIGGEST BLOCKERS TO THE NEXT ITERATION AMBITION OF WHERE YOU SEE HEALTH CARE GOING FOR A WEARABLE? JAMES: I DON'T SEE THEM AS BLOCKERS BUT I SEE THEM AS OPPORTUNITIES. THE THINGS THAT ARE EXCITING FOR ME ARE INTRODUCING TECHNOLOGIES THAT ARE ONLY -- WERE ONLY AVAILABLE AT A HOSPITAL SETTING OR MEDICAL GREAT DEVICES AND BRINGING THEM AT A CAPABILITY AND HELPFULNESS FOR MANY PEOPLE AND THAT REQUIRES BREAKTHROUGHS IN POWER MANAGEMENT, BETTER PROCESSORS, IMPROVED SENSORS THAT CAN FIT WITHIN THE CONFINES OF A SMART WORK -- SMART MARCH -- WATCH. WE CAME TO THAT IN OUR

ANNOUNCEMENT, THE APPLICATION AND THE USE OF AI AND HEALTH CARE IS GOING TO BE AN EXCITING NEW FRONTIER WHERE AI CAN REALLY FIND CONNECTIONS AND CORRELATIONS IN THE HEALTH DATA THAT WERE VERY DIFFICULT TO SPOT BEFORE AND GIVE YOU PERSONALIZED INSIGHTS INTO COACHING. CAROLINE: JAMES PARK, FITBIT VICE PRESIDENT, GENERAL MANAGER AT GOOGLE. THAT DOES IT FOR THE ADDITION OF BLOOMBERG TECHNOLOGY AND YOU DO NOT WANT TO FORGET TO CHECK

2023-10-06 12:49

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