>> 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: LIVE FROM NEW YORK AND SAN FRANCISCO THIS IS BLOOMBERG TECHNOLOGY. KAMALA HARRIS AND DONALD TRUMP SQUARING OFF IN THE FIRST PRESIDENTIAL DEBATE. WE TALK THE TECH ANGLES. ED: THE CRYPTO SECTOR NURSING DECLINES AS BETTING MARKETS REVEAL NEW MOMENTUM FOR THE VICE PRESIDENT. MARKETS REACT TO THE DEBATE. CAROLINE:
AMAZON BETS BIT -- BIG ON BRITAIN WITH A $10 BILLION INVESTMENT PLAN. LET'S GET STRAIGHT TO THE FIRST U.S. PRESIDENTIAL DEBATE, THAT SAW FORMER PRESIDENT TRUMP AND VICE PRESIDENT HARRIS TRADING BLOWS ON THE HANDLING OF AMERICA'S SEMICONDUCTOR INDUSTRY IN THE FUTURE OF AI.
>> THE TRUMP ADMINISTRATION RESULTED IN A TRADE DEFICIT, ONE OF THE HIGHEST WE'VE SEEN IN HISTORY OF AMERICA. HE INVITED TRADE WARS. YOU WANT TO TALK ABOUT HIS DEAL WITH CHINA? WHAT HE ENDED UP DOING IS UNDER DONALD TRUMP'S PRESIDENCY HE ENDED UP SELLING AMERICAN SHIPS TO CHINA TO HELP THEM IMPROVE AND MODERNIZE THEIR MILITARY. >> FIRST OF ALL THEY BOUGHT THE CHIPS FROM TAIWAN. WE HARDLY MAKE CHIPS ANYMORE BECAUSE OF PHILOSOPHIES LIKE THEY HAVE POLICIES LIKE THEY HAVE.
I DON'T SAY HER BECAUSE SHE DOESN'T HAVE POLICY. EVERYTHING SHE BELIEVE THREE AND FOUR YEARS AGO IS OUT THE WINDOW. SHE IS GOING TO MY PHILOSOPHY. CAROLINE: DAVID IS IN PHILADELPHIA YOU WERE THERE FOR THE LIVE ACTION. WE FOCUS ON ANGLES BUT WHAT DID YOU DRAW FROM THE DEBATE? DAVID: I WILL GO BACK TO WHAT YOU JUST PLAYED. A MORE ROBUST EXCHANGE POLICY
THEN WE SAW ON MANY OF THE TOPICS OVER THE COURSE OF THAT DEBATE. THERE WERE QUESTIONS ABOUT FORMER PRESIDENT TRUMP'S TARIFF POLICY, HE SAID HE WOULD IMPOSE MORE BLANKET TARIFFS NOT JUST ON CHINA AND MEXICO AS WELL. I THOUGHT THAT WAS KIND OF AN ILLUMINATING MOMENT AT SOMETHING VICE PRESIDENT HARRIS SPOKE ABOUT WITH INVESTMENTS THE BIDEN ADMINISTRATION HAS MADE MOVING SEMICONDUCTOR PRODUCTION IN THE UNITED STATES DURING THIS ADMINISTRATION.
SO NOTING THE FACT WHEN YOU LOOK AT TARIFFS LEVIED ON CHINA WHEN IT COMES TO SEMICONDUCTORS IT HAS BEEN THE BIDEN HARRIS ADMINISTRATION THAT'S ELEVATED THEM EVEN MORE. THIS WAS MORE THAN 90 MINUTES LONG. IT WAS THERE'S LITTLE POLICY THE BEGINNING WE SAW DIVERSIONS FROM THAT QUICKLY TO THE DEGREE WHICH ECONOMICS WAS DISCUSSED, ONE MOMENT WHERE I THOUGHT THERE WAS SOME ROBUST SPIRITED BACK-AND-FORTH BETWEEN THESE TWO CANDIDATES ADDING TO SOME SUBSTANCE ON THAT ISSUE. ED: HARRIS KEPT IN LINE WITH THE ADMINISTRATION'S POLICY THAT EVERY THING TO DO WITH CHIPS FROM A RESTRICTION STANDPOINT IS IN THE INTEREST OF NATIONAL SECURITY AND THEN TRUMP WENT AFTER THE TRACK RECORD, WHAT THEY DID OR DID NOT DO OVER THE LAST FOUR YEARS. IT'S HARD TO SEE WHERE WE'VE LANDED IN AGGREGATE. YOU LOOK AT SOCIAL MEDIA AND THE REPORTING, WHAT IS THE NET RESULT OF THAT DEBATE LAST NIGHT? DAVID: I GO BACK TO WHAT I HEARD FROM GOVERNOR GAVIN NEWSOM OF CALIFORNIA BEFORE THIS DEBATE. I SAID HOW IMPORTANT IS IT,
WHAT DIFFERENCE COULD THIS MAKE. HE SAID THINK OF IT LIKE WORLD WAR I WHERE IT WILL BE SOMETHING DETERMINED BY INCHES. THIS IS AN INCREDIBLY CLOSE RACE BETWEEN THESE CANDIDATES. IT WOULD BE A FOLLY TO THINK A PERFORMANCE IN THAT DEBATE WOULD HAVE A SIZABLE CHANGE. I THINK YOU ARE RIGHT.
YOU LOOK AHEAD WE HAVE FEWER THAN 60 DAYS UNTIL THE SELECTION, BOTH OF THESE CANDIDATES RIGHTLY RECOGNIZE THIS WILL BE A HARD-FOUGHT CAMPAIGN AND ONE THAT WILL BE DECIDED FUNDAMENTALLY JUST A FEW THOUSAND VOTERS. WHEN YOU LOOK AT THE POPULATION OF THIS COUNTRY AND THE VOTING ELECTORATE WE TALK ABOUT SWING STATES, IT'S MORE GRANULAR THAN THAT. WE ARE TALKING ABOUT DISTRICTS IN PARTICULAR. I THINK WHAT WE WILL SEE IS AN EFFORT TO CAPITALIZE MOMENTUM, CARRY THAT ON THE CAMPAIGN TRAIL. VICE PRESIDENT HARRIS GOING DOWN TO PENNSYLVANIA PRE-DONALD TRUMP MAKING A PILGRIMAGE OUT OF CALIFORNIA FOR A PRESS CONFERENCE, NEVADA AND ARIZONA. THEY WILL BE BACK ON THE TRAIL
TRYING TO DO ALL THEY CAN TO WOO THOSE UNDECIDED VOTERS. A SMALL SLIVER OF THE U.S. ELECTORATE. ED: OF THOSE VOTERS, TAYLOR SWIFT MANIA OUT ENDORSING KAMALA HARRIS TREE WILL GET TO IN MORE DETAIL LATER ON IN THE PROGRAM. LET'S CONTINUE WITH THE MARKETS REACTION TO LAST NIGHTS DEBATE. ABIGAIL DOOLITTLE WITH US. WHAT ARE YOU SEEING?
ABIGAIL: RIGHT NOW STOPS DOWN BROADLY. THE NASDAQ DOWN MORE THAN 1%. IT HAS LESS TO DO WITH THE DEBATE AND MORE WITH OTHER FACTORS OF UNCERTAINTY RELATIVE TO THE REACTION TO THE DEBATE I WOULD SAY RIGHT NOW DJT IS ONE OF THE BETTER SIGNALS IN TERMS OF WHAT INVESTORS SAW WITH THE STOCK DOWN ABOUT 15%, THE WORST TODAY SINCE APRIL. CLEARLY A VOTE AWAY FROM THE TRUMP TRADE IF YOU WILL END ONE WAY THE MARKETS ARE BACKING VP HARRIS. IF WE LOOK AT THE BETTING ODDS, JUST YESTERDAY BOTH CANDIDATES WERE AT 52%, THIS AFTER FORMER PRESIDENT TRUMP RIGHT WHEN KAMALA HARRIS GOT INTO THE RACE LED HER BY LET'S CALL IT 20%, SHE THEN LED DONALD TRUMP BY 12 TO 15%.
YESTERDAY GOING INTO THAT DEBATE, 52% AP SPRINT NOW THE SPREAD FIVE TO 7% APART IN FAVOR OF VP HARRIS. THIS IS ANOTHER WAY MARKETS ARE TELLING YOU THEY MAY HAVE THOUGHT KAMALA HARRIS'S PERFORMANCE WAS AT LEAST A STRONGER OR THEY THINK SHE WILL BE ELECTED IN NOVEMBER. IF WE DIG IN DEEPER AND LOOK AT WHAT COULD BE A HARRIS TRADE WHICH WOULD BE GREEN ENERGY, IT WOULD BE HEALTH CARE THAT GOES TOWARDS MEDICARE, MEDICAID ALONG WITH THE HOMEBUILDERS. THAT'S ONE AREA THAT'S NOT FAVORING HER RIGHT NOW. ONE OF HER POLICIES IS A $25,000 TAX -- DOWN PAYMENT FOR FIRST TIME HOMEBUILDERS. SOME OF THE HOMEBUILDERS THAT ARE GEARED TOWARDS THOSE EARLY HOMEBUILDERS -- HOMEBUYERS THEY ARE DOWN TODAY BUT THOSE OTHER AREAS ARE HIGHER AND THEN IF WE ROUNDED OUT WITH A LOOK AT CRYPTO SOME CLEARLY DONALD TRUMP IS IN FAVOR OF CRYPTO. THIS IS THE VIX SO WE HAVE IT
SIGNALING OVERALL THE IDEA OF RISK OFF RISING AND THAT'S WHAT CRYPTO WOULD SIGNAL. DOWN ABOUT 3% ON THE DAY. IF YOU LOOK AT CRYPTO AS ANOTHER WAY OF LOOKING AS A TELL ON RISK ON RISK OFF, IT BEING DOWN CONFIRMS THE VIX AND STOCKS DOWN CONFIRMED THE VIX HIGHER AND STOCKS DOWN THAT INVESTORS ARE UNCERTAIN AND OVERALL THE DEBATE RIGHT NOW SIGNALS INVESTORS ARE LITTLE MORE FAVORABLE TOWARDS VP HARRIS AND THAT UNCERTAINTY INTO NOVEMBER IS RISING. CAROLINE: WE THANK YOU. THERE'S ALSO THE MACRO PICTURE AT PLAY WITH INFLATION PRINT AND RISK OFF TONE. LET'S BEGIN WITH SARAH MALEK. GREAT TO HAVE YOU IN THE STUDIO. WHEN ONE FACTORS IN POLITICAL CONCERNS OR AT LEAST UNCERTAINTY AND THEN YOU HAVE THE UNCERTAINTY OF WHAT INFLATION IS DOING AND WHAT THE FED WILL DO HOW DO YOU MEASURE THOSE RISKS? SARAH: FIRST IS SEASONALITY, SECOND IS THE ELECTION AND THEN THE ECONOMY.
SECOND HALF OF SEPTEMBER AND ON AVERAGE TENDS TO BE THE WORST PERIODS FOR THE MARKET FOR THE YEAR SO WE ARE JUST APPROACHING THAT AND LOOK WHERE WE ARE. THE ELECTION CREATING SOME UNCERTAINTY AROUND EXPIRATION OF TAX CUTS AND WHAT THAT WILL MEAN IN TERMS OF INFLATION COULD COST UP TO 4.6 TRILLION TO RENEW THOSE FOR WHATEVER CANDIDATE WINS THE ELECTION BUT THE REAL MAIN EVENT IS THE ECONOMY, HIGHER THAN CPI DRIVEN BY SHELTER. PEOPLE ARE WORRIED THE ECONOMY IS SLOWING AND INFLATION IS NOT SLOWING FAST ENOUGH. I THINK WE GET 25 BASIS POINTS THIS MONTH FOR A CUT AND THEN A SLOW START TO FED CUTS IF INFLATION REMAINED STICKY AND THAT IS CONCERNING BECAUSE ECONOMIC DATA IS MOVING TO THE DOWNSIDE. CAROLINE: WHAT DOES THAT MEAN AROUND
ONE'S PORTFOLIO? PEOPLE HAVE BEEN PUTTING SO MUCH MONEY INTO SEVEN KEY NAMES WHEN IT COMES TO TECHNOLOGY. SAIRA: I THINK TECH WILL OUTPERFORM AS RATE CUTS ACCELERATE. SEMICONDUCTORS, SOFTWARE, THAT'S BEEN THE LAGGARD YEAR TODAY. SOME ATTRACTIVE NAMES THERE IT'S UNDER OWNED BY PORTFOLIO MANAGERS.
MARKET LEADING COMPANIES. PARTICULAR LOOKS CHEAP ON A VALUATION BASIS AS RATE CUTS HAPPEN. SEMICONDUCTORS PROBABLY A LITTLE MORE DOWNSIDE TO GO IN THE TYPICAL DOWNTURN THAT GOES BACK 30 TO 40%. AS WE APPROACH 2025 WE COULD SEE AN INFLECTION POINT AS 20 COULD BE WHEN PEOPLE START A REPLACEMENT CYCLE POST-COVID AND THEN MEGA CAP YOU NEED TO BE SELECTIVE.
WE HAVE META AND NVIDIA DOMINATING RETURNS. PEOPLE ARE WAITING TO SEE MONETIZATION OF ARTIFICIAL INTELLIGENCE FOR SOME OF THOSE COMPANIES, A RETURN A COMPANY WE LIKE IS APPLE WHERE IT'S A LOW CAPEX PLAY FOR THEM TO GET AI INTO THEIR PHONES PRINT THAT CYCLE IS SLOWLY STARTING AND WILL PICK UP NEXT YEAR. I THINK APPLE IS THE ATTRACTIVE PLAY WITH MEGA CAPS. ED: DO THOSE THEMES CONTINUE THROUGH THE SECOND HALF OF THE YEAR INTO NEXT YEAR IRRESPECTIVE OF THE OUTCOME OF THE ELECTION I'M PARTICULAR THINKING ABOUT THE MEGA CAPS AND YOUR COMMENTARY ON THE CHIP SECTOR. >> ON A MACRO BASIS INFLATION AND THE ECONOMY WILL BE THEMES THROUGHOUT THE YEAR. FOR SEMICONDUCTORS THE BIGGEST REASON FOR THEM TO INFLECT WILL BE THE REPLACEMENT CYCLE FOR THE STOCKS. WHETHER WE ARE MANUFACTURED
GLOBAL SUPPLY CHAINS AND OFF SHORING. SOMEWHAT OF A BIGGER ISSUE DEPENDING ON WHICH CANDIDATES WIN. AS COMPANIES ARE TO SPEND MORE ON SOFTWARE, I THINK MOSTLY IT'S THE FUNDAMENTALS THAT STAY INTACT AND WHICH CANDIDATE WINS THE ELECTION DOESN'T HAVE A HUGE IMPACT ON THEM BUT IT COULD HAVE SOMEWHAT. WE HAVE TO WORRY ABOUT REGULATIONS AND THE DEGREE OF REGULATIONS ON SOME OF THESE MEGA CAPS COMPANIES.
ED: I SAT ON MY SOFA HOPING AI WOULD COME UP IN THE DEBATE. THE QUESTION FOR MARKETS IS HOW MUCH LONGER DOES THIS TREND HAVE TO RUN. LISTEN TO WHAT MIKE WILSON SET ON BLOOMBERG TELEVISION EARLIER TODAY. >> WE GOT OVERCOOKED ON THE AI THEME. WE ARE NOT BELIEVERS THAT THIS IS GOING TO CHANGE PRODUCTIVITY MATERIALLY IN THE SHORT TERM. THAT'S A LONG-TERM STORY.
>> THAT'S WHY ASK ABOUT THE ELECTION, DOES IT HAPPEN YOUR RESPECTIVE OF THE OUTCOME. DO YOU AGREE THIS AI TRAIT IS OVERCOOKED? SAIRA: IT BECAME OVERCROWDED FROM AN INVESTMENT POINT OF VIEW. WITH ANY STRUCTURAL CHANGE IN THE TECHNOLOGY LANDSCAPE LIKE ARTIFICIAL INTELLIGENCE WHICH I THINK IS FAIR TO SAY THERE WILL BE FITS AND STARTS. PEOPLE BEEN WORRYING SINCE THE JULY 10 PEAK IS WHERE ARE THE SIGNS OF MONETIZATION AND WHAT IS THE RETURN ON INVESTMENT ON THIS INVESTMENTS AND THAT COMPANIES ARE MAKING IN ORDER TO IMPROVE THEIR REVENUE GROWTH AND EFFICIENCIES IN PRODUCTIVITY. I THINK WE ARE IN A BIT OF A PLATEAU OR PAUSE FOR THE STOCK AND UNTIL WE START TO SEE MORE CLEAR SIGNS OF WHAT IT MEANS AND THE IMPACT ON BUSINESSES. CONSUMER TECHNOLOGY COMPANIES ARE SEEING POSITIVE IMPACTS FROM AI. MEADOW WITH ITS TARGETING ADS
ON INSTAGRAM AND AMAZON WHICH IS TARGETING WHAT PEOPLE MORE EFFICIENTLY SHOULD BE BUYING. IN OTHER AREAS WE ARE NOT SEEING THE YIELD INCREASES YET AND THAT'S THE AREAS OF THE ECONOMY WHERE WE WANT TO SEE THAT IMPACT OF ARTIFICIAL INTELLIGENCE. >> GOOD TO HAVE YOU HERE. WE APPRECIATED. SARAH MENTIONS AMAZON. WE DIG IN AS IT CONTINUES TO EXPAND ITS CLOUD BUSINESS IN THE UNITED KINGDOM. THIS IS BLOOMBERG TECHNOLOGY.
CAROLINE: AMAZON -- ED: AMAZON SAID IT WOULD SPEND $10.5 BILLION IN THE U.K. TO GROW ITS CLOUD BUSINESS AT INTO A STRING OF EXPANSIONS IN EUROPE AND GIVEN BRITAIN'S NEW LABOUR GOVERNMENT. YOU AND I HAVE COVERED MANY OF THESE DEALS WRITING ABOUT VIRGINIA WHERE AWS PLEDGES 35 BILLION THROUGH 2040 BUT IT IS STILL SIGNIFICANT BET ON AMAZON'S FOOTPRINT IN THE UNITED KINGDOM. >> YES IT IS AND IT'S IN LINE WITH WHAT THEY SHOULD BE SPENDING. YOU LOOK AT THE U.K. CHUNK OF SALES THIS PROBABLY
MAKES SENSE IN THE CONTEXT BECAUSE THEY ARE SPENDING A TON ON DATA CENTERS. THIS YEAR ALONE WE'VE HAD ANNOUNCEMENTS IN SAUDI ARABIA, MEXICO, EUROPE, GERMANY AND SPAIN AND NOW A FULL FORCE SAYING WE WILL STAY RELEVANT IN THE CLOUD MARKET BY SPENDING MORE THAN ANYONE ELSE. CAROLINE: GIVE US CONTEXT TO THE NEED FOR COMPUTE TO SATISFY DEMAND. >> IT'S AT LEAST TWO SEPARATE THINGS.
THE MOVE TO THE CLOUD, THAT'S AMAZON AND GOOGLE. WE ALSO HAD THIS AI COCKTAIL WERE FOLKS HAD TO AFFORD THESE COOLING THAT MAKES IT HAPPEN. AND ON TOP OF THAT POWER IS SCARCE. SO THE REAL KIND OF LAND GRAB
FOR CLOUD COMPANIES TO BUILD NEW CAMPUSES AS QUICK AS THEY CAN. >> CAROLINE AND I WILL SPARE YOU FROM THE POLITICAL COMPONENT OF THIS STORY. RACHEL REES WASTING NO TIME TO POINT OUT THIS IS A BIG WIN. THE BUSINESS IS INTERESTING. EVERY TIME WE ASK -- TALK ABOUT ON THE PROGRAM I KNOW QUITE A LOT OF AMAZON STAFF WILL ENGAGE ON LINKED IN.
HOW DOES IT COMPARE TO NORTH AMERICA AND ELSEWHERE. >> THEIR BIGGEST TUBS ARE IN NORTH AMERICA WHERE MAJORITY OF THEIR DATA CENTER HAS BEEN. THEY ARE GOING MORE INTERNATIONAL AND SMALLER IN MALLER -- SMALLER MARKETS. I BELIEVE THAT WAS OUTSIDE OF PARIS. THEY SLOWLY GONE DOWN AND SAID NOT ONLY DO NEED POINTS OF PRESENCE IN LOCAL MARKETS BUT WE NEED TO SPEND ENCLOSED -- TO BE CLOSE TO THE BIG CORPORATE SPRAYED >> WHAT ABOUT TAKING ADVANTAGE CERTAIN GOVERNMENTS OFFER. IS THAT PART OF THE GAME. >> AMAZON WAS ANY INCENTIVES WHEREVER THEY GO. I'M NOT SURE IT'S NECESSARILY
THE DRIVING FORCE. THEY WILL SAY IF YOU MAP THEIR DATA CENTERS JUST MAPS WHERE THEIR CUSTOMERS ARE. THERE CERTAINLY POLICY IT WOULD PLAY A ROLE. CAROLINE: GREAT TO HAVE THE EXPERTISE, THANK YOU. WE WILL BE JOINED TO DISCUSS HOW ARTIFICIAL INTELLIGENCE IS TRANSFERRING -- TRANSFORM THE HEALTH CARE SECTOR.
THIS IS BLOOMBERG TECHNOLOGY. ♪ CAROLINE: ON TODAY'S AI IN ACTION WE ARE LOOKING AT A GLOBAL AI ENGINE DESIGNED FOR HEALTH CARE WITH AI THAT NOT ONLY TAKES PRACTITIONER NOTES BUT QUALITY ISSUES AND HELPS DOCUMENT EVERY PATIENT INTERACTION. THE COMPANY ANNOUNCED THE HIRING OF MICROSOFT PHILIPS EXECUTIVES TO HELP THE COMPANY'S EXPANSION IN THE UNITED STATES. THE CEO JOINS US NOW. WHY IS THE U.S. SUCH A FOCUS? ANDREAS: IT IS THE MOST IMPORTANT HEALTH CARE MARKET IN THE WORLD. IT'S WHERE I MYSELF LIVE AND I MYSELF LIVE AND I, PATIENT AND IT IS A PLACE WE FEEL EXCITED TO WORK IN AS SOME OF THE BEST PROVIDERS AND PAYERS ARE THERE AND I THINK THEY WILL BE THE CORNERSTONE OF BUILDING FOR HEALTH CARE. CAROLINE:
WE ARE ALL TRYING TO FIND OUT WHAT THE RETURN ON AI INVESTMENT IS. WHAT YOU OFFER HEY -- AI PRACTITIONERS PRINT ANDREAS: ACTUAL TIME BACK. THAT'S BEEN PROMISED A LOT OF TIMES AND HAVING BEEN HERE FOR A WHILE NOW. TO PROVE WE COULD RESEARCH AND FIND WAYS OF DELIVERING SAFE AND TRUSTWORTHY AI. THAT'S WHAT WE GIVE TODAY TO PROVIDERS PRINT WE HAVE A SOLUTION, YOU CAN BUILD IN AND HERE ARE REAL-TIME AI ACTUALLY HELPS DELIVERS ON THESE PROMISES , WE DO SUMMARIES AND DOCUMENTATION AND CARVE BACK SOME OF THAT TIME LOST TO ADMINISTRATION. ED: A STARTUP IN 2016 IS A LITTLE BIT REFRESHING.
THERE'VE BEEN MANY NEW COMPANIES IN THE LAST TWO YEARS IN THIS AREA. YOU BUILT UP DATA, WHAT IS THE BENEFIT THE HEALTH SYSTEM GETS FROM THOSE INTERACTIONS NOW. ANDREAS: I'M EXCITED TO SEE SO MUCH AI BEING ADOPTED BUT I AM STILL ASTOUNDED BY THE AMOUNT OF AI BEING DEPLOYED IN HEALTH CARE TODAY BUT ISN'T BUILT FOR HEALTH CARE. WE SEE A LOT TODAY WHO ARE AS GOOD AT FINDING A GREAT RECIPE AS THEY ARE AT DOING HEALTH CARE AI AND WHAT WE ARE OFFERING IS AI SOLELY BUILT FOR HEALTH CARE. AND PARTNERING WITH SOME OF THE BEST PROVIDERS TO BUILD AN AI THAT'S ONLY TUNED TO ONE THING AND THAT'S LISTEN TO HEALTH CARE PROVIDERS AND PAYERS AND AUGMENTATIONS THAT REALLY WORK. >> THE DIFFICULTY IN THIS COUNTRY IS INSURANCE AND ESTABLISHED HEALTH CARE SYSTEMS. HAVE YOU BEEN ABLE TO
NAVIGATE THAT. ANDREAS: I THINK THE WAY WE THINK ABOUT IT A LOT IS TO ENSURE WE DO NOT JUST COME IN WITH YET ANOTHER APPLICATION. WE WANT A TECHNOLOGY THAT YOU BUILD INTO WHAT YOU USE TODAY BOTH BY PAYERS AND PROVIDERS. WE ARE LUCKY THAT MORE THAN 100,000 INTERACTIONS ACROSS THE U.S. AND ULTIMATELY I HEARD THIS THE
OTHER DAY, IT HELPS THEM ENSURE THEY ARE MORE ON POINT WITH PATIENT DATA AND DOCUMENTATION. CAROLINE: LET'S TALK ABOUT PATIENT DATA BECAUSE THERE IS ANXIETY ABOUT IT RUNNING THROUGH VARIOUS PEOPLE'S HANDS. HOW ARE YOU ENSURING THE SECURITY? ANDREAS: WE ARE ORIGINALLY A COMPANY FROM DENMARK IN SCANDINAVIA IN EUROPE SO IN OUR DNA IS COMPLEX. WE ARE FROM THE MOST REGULATED
PART OF THE GLOBAL HEALTHCARE SYSTEM AND KNOWN TO BE ONE OF THE BEST HEALTH CARE SYSTEM SPRAYED BEEN LUCKY TO PARTNER WITH THE EUROPEAN UNION AND THE LEGISLATIVE ARM WHEN THEY WROTE THE AI ACT AND WORKED WITH THEM ON GDPR. ON THE TECHNOLOGY WE'VE DEVELOPED COMPLIANCE AND DATA SAFETY IS AMONG THEM. THAT MEANS WE ARE NOT TAKING DATA, NOT APPROPRIATING OR MISUSING DATA. WE COME FROM A MARKET DRIVEN BY PATIENTS AND THEY GIVE EACH OTHER HEALTH CARE FOR FREE. WE HAVE AN ETHOS OF ENSURING PATIENTS, FIRST, THAT IS CORE TO WHAT WE BELIEVE IN. ED: THE MOST RECENT PIECE OF NEWS FOR YOU IS THE TOP TALENT YOU'VE BEEN HIRING FROM TECH AND HEALTH CARE.
HOW DIFFICULT AND EXPENSIVE WAS THAT? ANDREAS: EDIE IS DEFINITELY A BIG CHALLENGE. I THINK THERE IS A LOT OF HYPE AROUND AI START UPS BUT WE'VE BEEN ABLE TO SEE SOME OF THE BEST TALENTS IN HEALTH CARE MEETING CUSTOMERS, PROVIDERS AND PAYERS ALL THE TIME. WE WANT TO GET ON THIS AI JOURNEY THAT HAVE MAYBE NOT YET FOUND THE PROVIDER THAT'S TRUSTWORTHY.
WE'VE BEEN LUCKY ENOUGH TO SHOW THEM THAT AND KEEP HEARING THAT FROM PATIENTS AND PROVIDERS THAT THEY SEE THE OUTCOMES THEY WANT. I THINK THAT ENTICES A LOT OF THE TITANS OF OUR INDUSTRY TO SEE IF IT IS REAL AND LOVING WHAT THEY SEE IF THEY WANT TO JOIN. ED: CORTI CEO ANDREA'S, GREAT TO HAVE YOU ON THE SHOW.
TALKING TECH, INDIA PRIME MINISTER MODI LOOKS TO BOLSTER THE ELECTRONIC SECTOR TARGETING $500 BILLION BY THE END OF THE DECADE. A CHOICE TO MOVE CHIPMAKERS INTO THE COUNTRY ALREADY IMPROVING $15 BILLION WORTH OF SEMICONDUCTOR INVESTMENT SO FAR. REVOLUT TOPPED ITS RIVALS AND COMPLAINTS RELATED TO AUTHORIZE PUSH PAYMENT SCAMS. THE U.K.
REGULATOR HAS COME UP WITH A POTENTIAL PLAN THAT WOULD REQUIRE FIRMS TO REIMBURSE FRAUD VICTIMS WITHIN FIVE DAYS, PUTTING PRESSURE ON FINANCIAL INSTITUTIONS TO IMPROVE SCAM CONCERNS. LASER TEC SEES DOUBLE-DIGIT RECORD GROWTH FOR THE NEXT FEW YEARS DRIVEN BY AI DEMAND. THEY HOLD 100% MARKET SHARE IN MACHINES THAT VERIFY CHIP DESIGNS.
COMING UP, REALLY IMPORTANT CONVERSATION. WAYMO MAKING PROGRESS, WE SPEAK TO THE CEO COMING UP NEXT. STAY TUNED, FROM NEW YORK CITY AND SAN FRANCISCO, THIS IS BLOOMBERG TECHNOLOGY.
CAROLINE: WELCOME BACK TO "BLOOMBERG TECHNOLOGY." I AM CAROLINE HYDE IN NEW YORK. ED: I AM ED LUDLOW IN SAN FRANCISCO. CAROLINE: WE HAVE A BIT OF RISK AVERSION CREEPING INTO THE MARKETS. WE SEEM TO SEE A SLIGHT MOVE TO THE HAVEN'S THAT IS THE BOND MARKET. THE OVERALL QUESTION IS, CAN
THE FED BE CUTTING TO 50 BASIS POINTS BY SEPTEMBER? MOST ARE MOVING TO A 25-BASIS POINT EXPECTATION. MAYBE THAT IS A POLITICAL REFLECTION OF THE DEBATE OF YESTERDAY WHEN FORMER PRESIDENT TRUMP IS DEEMED A MORE CRYPTO- PRO CANDIDATE IN THE MARKET FEELING HIS PERFORMANCE WAS LACKLUSTER VERSUS THAT OF VP HARRIS. MORE THAN 9% HIGHER FOR FIRST SOLAR. A STRONG PERFORMANCE BY VP HARRIS YESTERDAY. RISING SOME 3% BACK TO ITS CHIP DESIGN. MORGAN STANLEY ONCE AGAIN SINGLING THIS NAME OUT AS ONE OF ITS BEST FOCUSES FOR EDGE AI. TESLA, MORE THAN 2.5% LOWER.
WHAT ARE YOU LOOKING AT? ED: WAYMO HAS BEEN MAKING SOME PROGRESS OF LATE. MORE THAN 100,000 WEEKLY PAID RIDES ACROSS WAYMO'S FIRST MARKETS. DATA SHOWS 22 MILLION RIDER ONLY MILES. JOINING US TO DISCUSS IS THE WAYMO CEO TEKEDRA MAWAKANA WHO WAS NAMED ON THE MOST INFLUENTIAL NAI LIST. GOOD MORNING -- MOST INFLUENTIAL IN AI LIST. WHAT IS THE AVERAGE
DISTANCE TAKEN PER RIDE? AND A BIT MORE ABOUT THE ECONOMICS YOU HAVE ACHIEVED. TEKEDRA: THANK YOU SO MUCH FOR HAVING ME. I WOULD LOVE TO HEAR MORE ABOUT YOUR EXPERIENCE. I HAVE BEEN WATCHING YOUR
SOCIAL ENGAGEMENT. YOU SAID IT -- WE HAVE REACHED OVER 100,000 RIDES PER WEEK ACROSS SAN FRANCISCO, PHOENIX AND LOS ANGELES. THE DISTANCES THAT PEOPLE TRAVEL AND HOW THEY ARE USING A SERVICE VARY WILDLY BETWEEN LOCATIONS. IN SAN FRANCISCO, 36% OF PEOPLE
ARE USING THE SERVICE TO CONNECT WITH TRANSIT, WHICH IS SURPRISING FOR US. DEPENDING ON WHERE THEY ARE IN THE CITY, IT COULD BE A THREE MILE RIDE TO GET TO TRANSIT OR WORK. OTHER PEOPLE ARE USING IT TO RUN ERRANDS OR GO TO DOCTORS APPOINTMENTS.
WHEN YOU TALK ABOUT THE ECONOMICS, WE ARE A PREMIUM SERVICE. PEOPLE ARE PAYING FOR THE CONSISTENCY AND THE SAFETY OF THE WAYMO DRIVER AND THE WAYMO SERVICE. ED: UNDER THE CO-CEO MODEL, YOU ARE FOCUSED ON THE COMMERCIALIZATION OF WHAT WAYMO HAS BEEN DOING. I USE WAYMO OFTEN AND I USE
TESLA SUPERVISED. THE EXPERIENCE IS INTERESTING. I'M TRYING TO THINK ABOUT IT ABOUT HOW I WOULD USE IT IN MY NORMAL LIFE. SFO IS A BIG THING. WHEN CAN I GO TOSFO IN A WAYMO AND WHAT IS THE PROGRESS YOU ARE MAKING? TEKEDRA: WHEN WE LAUNCHED IN PHOENIX, ONE OF THE EARLY ENGAGEMENTS WAS WITH THE AIRPORT. WE OFFER 24/7 PICK UP AT THE
CURBSIDE THERE. IT IS A PROCESS. WE WERE THE FIRST AUTONOMOUS VEHICLE COMPANY TO GET FAA APPROVAL FOR THE KIND OF PICKUP. WE ARE DEEPLY ENGAGED WITH FSO OFFICIALS. WE ARE ALSO DEEPLY ENGAGED WITH OUR EMPLOYEES FOR FULLY AUTONOMOUS RIDES ON FREEWAYS. PEOPLE WANT TO TAKE TRIPS TO
AND FROM THE AIRPORT ON FREEWAYS. WE HAVEN'T GOING IN PHOENIX AND SAN FRANCISCO. BOTH OF THOSE -- WE HAVE IT GOING IN PHOENIX AND SAN FRANCISCO. DOING EVERYTHING WITH SAFETY AT THE CENTER OF HOW WE MOVE. IT IS DELIBERATE. IT TAKES WHAT IT TAKES TO GET IT RIGHT. CAROLINE: LET'S DWELL ON THAT SAFETY.
KUDOS TO YOU CALLING OUT WAYMO AS THE FRONT RUNNER IN DAVIES BUT THEY SAY CHALLENGES REMAIN. HOW ARE YOU DISCUSSING THAT? HOW ARE YOU LOOKING AT SAFETY DATA? TEKEDRA: WE ARE REALLY PROUD. SOUNDED IN -- FOUNDED IN 2009. OUR COMPANY CULTURE IS BUILT AROUND SAFETY AND TRANSPARENCY. THERE IS NOT ONE MEASURE OF SAFETY. WE HAVE BUILT A LOT OF SAFETY
AND TRANSPARENCY. LAST WEEK WE LAUNCHED THE SAFETY HUB. WE ARE PUTTING ALL OF OUR DATA OUT THERE FOR ACADEMICS AND THE MEDIA TO ENGAGE WITH AND UNDERSTAND WHY IT IS WE KNOW WE ARE IMPROVING ROAD SAFETY.
WE HAD SOME OF THE STATS UP. THIS IS WHY WE EXIST. LEVEL 4 TECHNOLOGY SHOULD MAKE THE ROADS SAFER FOR HUMANS, PEDESTRIANS, CYCLISTS. WE ARE SHOWING THAT IS THE CASE. WE ARE STILL ENGAGING, DEMONSTRATING THAT IN GAUGING IN EVERY LEVEL OF GOVERNMENT IS WHAT YOU HAVE TO DO WHAT YOU ARE THE FIRST TO DO THIS. NO ONE HAS REACHED THIS LEVEL OF SCALE.
WE HAVE A ROLE TO PLAY IN BEING VERY TRANSPARENT. CAROLINE: FOR THAT, YOU NEED MONEY. $5 BILLION COMING FROM ALPHABET. THE S&P CALLING OUT THE NEED FOR THIS CAPITAL INVESTMENT TO DRIVE THE U.S. FORWARD. TEKEDRA: SUPER FORTUNATE TO BE BACKED BY ALPHABET AND OTHER EXTERNAL INVESTORS. WE ARE LASER FOCUSED ON SCALING THIS TECHNOLOGY. THAT INVESTMENT, WHILE A BIG NUMBER, DOES NOT REPRESENT AN OVERALL GROWTH IN OUR TRAJECTORY BECAUSE WE HAVE BEEN VERY DILIGENT IN BRINGING DOWN OUR COST STRUCTURE.
YOU SAW IN THE LAST COUPLE OF WEEKS WE INTRODUCED OUR SIXTH GENERATION DRIVER. WHEN YOU SEE US UNVEIL A NEW APPROACH, ONE THING YOU COULD THINK ABOUT IS THAT WILL MAKE SCALING OUR BUSINESS MORE EFFICIENT OVER TIME. THAT IS WHAT WE ARE REALLY FOCUSED ON DOING. HAVING THE BACKING OF ALPHABET IS A GREAT PLACE TO BE. ED: WHAT IS YOUR RELATIONSHIP LIKE WITH RUTH? I HAD MY QUARTERLY EARNINGS CALL WITH HER. HOW DO YOU WORK TOGETHER AS SHE
TRANSITIONS TO A DIFFERENT FUNCTION AT ALPHABET? TEKEDRA: RUTH WILL REMAIN INVOLVED. SHE IS TAKING ON THE ROLE AS PRESIDENT AND CHIEF INVESTMENT OFFICER. WE ARE AN IMPORTANT INVESTMENT FOR ALPHABET. SHE HAS BEEN INVOLVED SINCE I JOINED THE COMPANY. SHE IS A SUPPORTER OF WAYMO AND I LOOK FORWARD TO WORKING WITH HER. ED: I HAVE A HANDS-ON EXPERIENCE OF
YOUR COMPETITIVE LANDSCAPE. WHAT DO YOU MAKE OF TESLA;S STRATEGY WITH ROBO TAXI. WHY IS YOUR APPROACH DIFFERENT AND WILL SUCCEED? TEKEDRA: THIS SORT OF QUESTION OF COMPETITIVE LANDSCAPE IS SO INTERESTING. WE ARE IN THE BUSINESS OF TRYING TO MAKE THE ROAD SAFER AND IN A WAY THAT TAKES THE HUMAN OUT OF IT.
1, IT EXPANDS THE NUMBER OF PEOPLE WHO HAVE ACCESS TO MOBILITY OPTIONS. IF YOU DO NOT NEED A DRIVER'S LICENSE AND YOU DO NOT HAVE TO SIT BEHIND THE WHEEL, WAYMO IS A PERFECT OPPORTUNITY FOR YOU. HOPEFULLY ANY LEVEL 4 SYSTEM THAT MAKES THE ROAD SAFER WILL BE AN APP. THAT IS THE WAY WE THINK ABOUT IT. WHEN I THINK ABOUT OTHER APPROACHES PEOPLE ARE TAKING, IF YOU NEED A DRIVER'S LICENSE OR THE HUMAN HAS TO TAKE OVER, IT IS DIFFERENT.
WE ARE HEADS DOWN, FOCUSED ON LEVEL 4 TECHNOLOGY. CAROLINE: TEKEDRA MAWAKANA, WE APPRECIATE YOUR TIME. COMING UP, WE WILL BE JOINED BY LIZ YANG, THE HEAD OF GROWTH AT AZUKI. THIS IS "BLOOMBERG TECHNOLOGY." CHECK OUT THE "BLOOMBERG TECHNOLOGY" PODCAST. THIS IS BLOOMBERG. CAROLINE: IT HAS GONE VIRAL. TAYLOR SWIFT HAS ENDORSED KAMALA HARRIS. SHE MADE THE ANNOUNCED MINUTES AFTER THE DEBATE IN A SOCIAL MEDIA POST. SHE CALLS HERSELF A "CHILDLESS CAT LADY."
WE UNDERSTAND THE REFERENCE. BLOOMBERG OPINION'S DAVID LEE IS WITH US. IT FEELS LIKE UNDERLYING ALL OF THIS IS ARTIFICIAL INTELLIGENCE.
DAVID: THIS WAS ANYTHING THAT TAYLOR SWIFT SAID MOTIVATED HER TO SPEAK OUT AND PUBLICLY ENDORSE HARRIS. SHE MADE A SPECIFIC POINT OF BRINGING THIS UP. THERE HAS BEEN MISINFORMATION POSTED ABOUT HER BY TRUMP ON TRUE SOCIAL SUGGESTING SHE WAS ENDORSING HIM AND SOME OF HER FANS WERE SUPPORTING HIM, AS WELL. THIS REPRESENTS THE FIRST MAJOR IMPACT WE HAVE SEEN FROM THE USE OF AI IN AN ELECTION. WE HAVE HEARD RESEARCHERS WARN ABOUT DEEPFAKES COULD PERHAPS INFLUENCE VOTERS. THIS HAS COME FROM A REBUTTAL RATHER THAN THE ORIGINAL CONTENT ITSELF. TAYLOR SWIFT'S RESPONSE WILL BE
SEEN BY MANY MORE PEOPLE RATHER THAN THE ORIGINAL POST BY TRUMP. ED: AS YOU POINT OUT IN YOUR COLUMN WE CAN ONLY SPECULATE IF SWIFT WOULD HAVE ENDORSED HARRIS HAD THAT FAKE ENDORSEMENT NOT HAPPENED. THERE IS THE TAYLOR SWIFT EFFECT. YOU TRY TO MAKE SENSE OF A PRESIDENTIAL DEBATE. WHAT IS YOUR CONCLUSION ABOUT THE IMPACT TAYLOR SWIFT COMING OUT AND ENDORSING KAMALA HARRIS WILL HAVE ON THIS ELECTION RACE? DAVE LEE, GO. DAVE: [LAUGHTER] ONE THING WE HAVE SEEN IN THE PAST WHEN TAYLOR SWIFT BROUGHT HERSELF INTO POLICY, SHE DOES IT CAREFULLY AND WITH THOUGHT.
WE SEE VOTER REGISTRATIONS AMONG YOUNG PEOPLE, YOUNG WOMEN IN PARTICULAR, TEND TO JUMP. I WOULD IMAGINE WE WOULD SEE THAT HERE. THERE IS A QUESTION ABOUT HOW MUCH THAT TRANSLATES TO PEOPLE GOING TO THE POLLS. TAYLOR SWIFT'S ENDORSEMENT IS ONE YOU WOULD PREFER TO HAVE, PARTICULARLY WHEN DRAWING ATTENTION TO A MAJOR CRITICISM OF TRUMP, HE MAKES THINGS UP AND PUTS THEM ON HIS WEBSITE. CAROLINE: BLOOMBERG OPINION'S DAVE LEE, APPRECIATE IT. LET'S GET TO CRYPTO AND BITCOIN.
IT IS UNDER SOME PRESSURE. CALL IT CPI OR REACTION TO THE U.S. PRESIDENTIAL DEBATE. LET'S DISCUSS WITH LIZ YANG. I AM INTERESTED IN HOW CRYPTO IS BEING USED AS A GAUGE FOR THE FORMER PRESIDENT TRUMP'S PERFORMANCE OR CHANCES OF BEING REELECTED. LIZ: THERE ARE SEVERAL DIFFERENT WAYS. IF YOU LOOK AT THE PRICE OF BITCOIN YOU CAN CONSIDER THAT A PROXY FOR HOW THE CRYPTO SECTOR VIEWS TRUMP'S CHANCES OF BEING ELECTED.
TRUMP HAS COME OUT AS A STAUNCHLY PRO-CRYPTO CANDIDATE, FORCING THE DEMOCRATS' HAND. WHAT IS REALLY FASCINATING IS ALMOST IN REAL TIME, VIEWERS WERE ABLE TO TRACK CRYPTO SENTIMENT AROUND THE TIMESTAMPS OF WHEN EACH CANDIDATE CAME OUT WITH THEIR RESPECTIVE ARGUMENTS. ED: LIZ, I WAS DOING SOMETHING SIMILAR. WE WERE REPORTING ON IT. IF YOU WANT TO FOLLOW REAL-TIME SENTIMENT, LOOK AT ASSETS THAT TRADE 24/7. WHAT I COULD NOT WORK OUT IS,
IS THIS A CLEAR SITUATION IF TRUMP IS THE CRYPTO CANDIDATE AND HARRIS IS NOT OR THERE IS NOT A THOROUGH UNDERSTANDING OF POLICY? LIZ: IT IS A REALLY GOOD QUESTION. OVERALL WHEN YOU LOOK AT PREDICTION MARKETS, INFORMATION IS IMPERFECT BUT THAT IS A REFLECTION OF THE AMERICAN POPULACE AT LARGE AND HOW THEY VOTE. WHAT IS POWERFUL ABOUT PREDICTION MARKETS AND POLITICAL MEME COINS, THEY ARE A WAY TO GAUGE THE BAROMETER IN TERMS OF SENTIMENT. IF YOU TAKE A LOOK AT PREVIOUS ELECTIONS, THERE HAS BEEN ENORMOUS APPETITE TO USE STATISTICS TO TRACK WHERE SENTIMENT IS THAT. FOR EXAMPLE, 538. I SEE MEME COINS AS A NATURAL EXTENSION OF THIS BEHAVIOR.
CAROLINE: ALSO, THIS LIBERTY FINANCIAL, WORLD LIBERTY FINANCIAL, IT SEEMS TO BE A POTENTIAL PROTOCOL. IT DOES NOT SEEM TO BE ALIVE YET BUT BEING TALKED ABOUT BY HIS SONS. LIZ: I THINK TRUMP IS TRYING TO PUT HIS MONEY WHERE HIS MOUTH IS AND ENTER INTO THESE VARIOUS FORAYS TO SHOW HIS INTEREST IN THE CRYPTO SPACE. ED: WHERE DO WE GO FROM HERE? THERE COMES A POINT WHERE THE MARKET CONTINUES DOING WHAT THEY ARE DOING, BEING IT A PRODUCTION OR SPECIFIC ASSET YOU TRACK, OR PEOPLE LOOK ELSEWHERE. LIZ: WHEN IT COMES TO TOOLS LIKE PREDICTION MARKETS AND MEME COINS, I SEE THIS AS A NATURAL EXTENSION OF BEHAVIOR THAT STARTED DURING THE PANDEMIC WITH WALL STREET BETS. WHAT HAPPENED WAS BECAUSE OF THE PANDEMIC, PEOPLE WERE STARVED FOR SOCIAL CONTACT WITH FRIENDS AND FAMILY AND ABLE TO FORM THOUGHTS WITH OTHER TRADERS ON SUCH FORUMS. FOR A LOT OF YOUNGER PEOPLE,
INVESTING IS NOT NECESSARILY ABOUT ROI. IT IS ABOUT INTERNET CULTURE AND MEMES AND ENTERTAINMENT AND COMMUNITY. WHERE I SEE POLITICAL MEME COINS COMING OUT OF THIS IS IT IS A NATURAL SUCCESSOR OF THIS KIND OF TREND.
WITH MEME COINS, IT COMBINES POLITICAL SATIRE AND INTERNET GROWN CULTURE AND ENTERTAINMENT. REALLY TRANSFORMING HOW THE YOUNGER GENERATIONS NOT ONLY LOOKING AT INVESTING BUT PARTICIPATING IN THE POLITICAL PROCESS. ED: LIZ YANG, HEAD OF GROWTH AT AZUKI SYSTEMS, THANK YOU.
COMING UP, SONY BETS BIG ON HIS LOYAL AUDIENCE TO PAY A PREMIUM FOR ITS NEW PLAYSTATION 5. WILL THAT WORK? CAROLINE: I AM TALKING GAMING, TALKING MEMES, TALKING GAMESTOP. WE ARE GETTING FUNDAMENTALS FOR THIS BUSINESS. DOWN AT ONE POINT AS MUCH AS
18%. SECOND QUARTER SALES COMING IN BELOW CONSENSUS ESTIMATES. THIS IS "BLOOMBERG TECHNOLOGY." CAROLINE: LET'S TALK ABOUT SONY'S PLAYSTATION 5. IT GOT A REFRESH. THE COMPANY IS DEBUTING A PS5 P RO BUT IT COMES WITH A PREMIUM PRICE TAG. JASON: $700 FOR THE PLAYSTATION 5 PRO.
THERE WAS A MEME WHEN THE PLAYSTATION 3 WAS ANNOUNCED BECAUSE THEY SAID IT WILL BE $599 U.S. DOLLARS. I GUESS THE MEMES HAVE TO KEEP UP WITH INFLATION, TOO. ED: I AM A LOYAL PLAYSTATION USER BUT AS YOU THINK OF THE CONSOLE MARKET AS A WHOLE, THIS IS PLAYSTATION RAISING PRICES WHEN THE MARKET IS GOING THE OTHER DIRECTION. KIDS TODAY ARE DOING SOMETHING DIFFERENT WITH GAMING. JASON: IF I CAN OFFER A FEW WORDS IN PLAYSTATION'S DEFENSE OR TRYING TO UNDERSTAND WHERE THEY'RE COMING FROM, THE PS5 PRO IS NOT A NEW CONSOLE. IT IS A MODEL OF THE PLAYSTATION 5 THAT WILL PLAY THE SAME GAMES AT MORE VIVID GRAPHICS, HIGHER REFRESH RATES AND BETTER RESOLUTIONS.
THIS THING IS MEANT FOR TECH AFICIONADOS. SOMEONE WHO BOUGHT AN APPLE VISION PRO OR ARE GETTING A NEW PHONE EVERY SINGLE YEAR. THIS IS NOT MEANT FOR KIDS OR THE MASS MARKET. THIS IS A MODEL MEANT FOR PEOPLE WHO HAVE MONEY TO SPEND WHO DO NOT REALLY CARE ABOUT PRICE AS MUCH AND JUST WANT THE HIGHEST-END GEAR. I SAW A STAT FROM AN ANALYST. HE SAID THE PS4 PRO, WHICH WAS
A REFRESH OF THE PLAYSTATION 4 ACCOUNTED FOR 13% OF TOTAL LIFETIME PS4 UNITS, SO NOT A SIGNIFICANT AMOUNT. I EXPECT THIS WILL PLAY A SIMILAR ROLE IN THE MARKET. I HAD A CONVERSATION NOT TOO LONG AGO. A PARTY IN L.A. WHERE I WAS TALKING TO AN EXECUTIVE FROM A BIG CONSUL COMPANY. IT IS FUNNY THAT THE MARKET IS MOVING TO DIGITAL QUICKLY. HE SAID, NO, JASON, IT IS ALREADY THERE. A LARGE PERCENTAGE OF CUSTOMERS
ARE BUYING GAMES DIGITALLY TODAY. THEY ARE NOT EVEN BOTHERING WITH DISCS. THAT IS WHY GAMESTOP HAS BEEN ON THE DOWNSWING. I THINK SONY SEES THE DISK DRIVE AS AN ACCESSORY. IT IS FEARED YOU CAN BUY ONE AS AN ADD-ON.
THEY SEE IT NOT NECESSARY FOR THE LARGE MAJORITY OF PEOPLE. THE NEXT GENERATION OF CONSULS, IT IS LIKELY THEY WILL NOT COME WITH DISK DRIVES AND THEY WILL BE ADD-ONS. ED: SO MUCH NOSTALGIA. THE DETAILS OF PRE-ORDERING AND WHEN PS5 PRO COMES OUT? JASON: I BELIEVE IT IS NOVEMBER 6.
PREORDERS WILL BE AVAILABLE IN THE NEXT COUPLE WEEKS. CAROLINE: SOME OF THOSE FX PRICE POINT DIFFERENCES FROM THE U.K. AND E.U. THANK YOU. THAT DOES IT FOR THIS EDITION OF "BLOOMBERG TECHNOLOGY." ED, DO NOT DWELL ON YOUR NOSTALGIA FOR DISCS. ED: I KNOW. I WILL PLAY SOME PLAYSTATION
TODAY. HUGE THANK YOU TO EVERYONE IN NEW YORK CITY AND THE TEAM HERE IN SAN FRANCISCO.
2024-09-14