Trump’s Crypto Impact, Palantir Wants AI-Driven Reform | Bloomberg Technology
>> FROM THE HEART OF WHERE INNOVATION, MONEY, AND POWER COLLIDE IN SILICON VALLEY AND BEYOND, THIS IS BLOOMBERG TECHNOLOGY WITH CAROLINE HYDE AND ED LUDLOW. >> LIVE FROM NEW YORK, I AM KATIE GREIFELD. >> I AM JACKIE DEVOL US IN WASHINGTON. BIG TECH SHARES REBOUND AS U.S. STOCKS SEE RELIEF FROM TARIFF
TENSIONS THAT HAS SHAKEN GLOBAL MARKETS AND RATTLED CONSUMERS. PLUS, A CONVERSATION WITH THE CEO OF TALENT HERE AS THE COMPANY ANNOUNCES NEW PARTNERSHIPS TO MAKE AMERICAN MANUFACTURING MORE EFFICIENT. EARNINGS SEASON ISN'T OVER. WE SIT DOWN WITH THE CEOS OF RUBRIC AND DOCUSIGN FOLLOWING THEIR RESULTS. FIRST, CHECK ON THOSE MARKETS. KATIE: A LOT OF GREEN ON THE SCREEN. YOU LOOK AT THE NASDAQ 100, IT IS UP MIGHTILY TODAY. YOU CAN SEE IF YOU SQUINT ON THE 14TH.
IT HAS BEEN A BRUTAL WEEK ON THE FIVE-DAY LOOK BACK. THE BIG TECH INDEX IS DOWN ALMOST 3% FOR THIS WEEK. ANOTHER CONSECUTIVE WEEK OF LOSSES AS THE SELLOFF DEEPENS ON THE WEEKLY BASIS.YOU LOOK AT WHAT IS DRIVING TODAY'S ACTION, TWO NAMES THAT STAND OUT. TESLA AND NVIDIA. TESLA SHARES UP 2%.
WE KNOW TESLA HAS BEEN IN THE HURT LOCKER FOR MUCH OF 2025, BUT SEEING A BIT OF A REBOUND THIS FRIDAY. NVIDIA IS THE BIGGEST GAINER ON A POINTS BASIS WHEN IT COMES TO THE S&P 500, ALSO HELPING OUT THE NASDAQ 100. NVIDIA SHARES HIGHER BY 4% RIGHT NOW. JACKIE:
LET'S GET ALL OF THIS WITH BLOOMBERG'S RYAN. HELP US UNDERSTAND THE ROLLER COASTER. SOME OF THESE MAG 7 NAMES WERE EXACTLY WHAT WAS DRAGGING US DOWN EARLIER THIS WEEK. WHAT HAS CHANGED? RYAN: IT HAS BEEN A VERY VOLATILE WEEK, BUT SOME ARE WONDERING IF WE WILL SEE SOME CAPITULATION, SOME END TO THE SELLING PRESSURE THAT HAS BEEN GOING ON THIS WEEK, REALLY FOR THE PAST COUPLE OF WEEKS? MAYBE WE ARE SEEING A LITTLE DIP BUYING COMING IN. SOME HAVE GOTTEN OVERSOLD BY
SOME METRICS. THERE ARE ALSO CONCERNS ABOUT THE ECONOMIC OUTLOOK. THESE NAMES HAVE SLOWING GROWTH PROCESS. GROWTH REMAINS ABOVE MARKET RATE, SO PEOPLE ARE SAYING THESE ARE STILL PRETTY STRONG COMPANIES AND THEY MIGHT BE LOOKING TO TAKE ADVANTAGE OF THAT TODAY. KATIE: I'M CURIOUS WHAT YOU SEE AS THE
DRIVER WHEN YOU TALK TO ANALYSTS. IT'S STILL EARNINGS SEASON, BUT IT FEELS LIKE EVEN GOOD NEWS ISN'T NECESSARILY HELPING OUT THE STOCKS WHEN IT COMES TO FUNDAMENTALS OF THESE ACTUAL CORPORATE NAMES. IS IT OVERALL SENTIMENT? RISK APPETITE? VALUATIONS? WHAT IS THE CATALYST OF THE MARKET RIGHT NOW? RYAN: I WOULD SAY ALL OF THOSE THINGS. PRIOR TO THIS YEAR COME ALL OF THESE STOCKS HAVE DONE EXTREMELY WELL. MANY WERE TRADING AT MULTIPLES STRUCTURAL TO THEIR HISTORY.
WHEN YOU HAVE A 2-3 YEAR RALLY, TOOK SOME OF THEM UP MORE THAN 100%, IT'S A NATURAL PLACE FOR PEOPLE TO WANT TO TAKE PROFITS. WHEN YOU COUPLE THAT WITH TARIFF UNCERTAINTY, OVERALL ECONOMIC UNCERTAINTY, YOU HAVE PEOPLE SHOOTING FIRST AND ASKING QUESTIONS LATER. I DON'T THINK PEOPLE HAVE SOURED ON THE GROUP, BUT THERE IS NOTHING CONTINUING TO PUSH THEM HIGHER FROM ALREADY ELEVATED LEVELS AND MULTIPLES. JACKIE: I'M CURIOUS HOW CONSUMER SENTIMENT ENDS UP EFFECTING TECH NAMES THAT ARE SOMETIMES MORE INSULATED IN THE SHORT TERM TO SOME OF THOSE SWINGS, AND HOW PEOPLE ARE FEELING ABOUT THEIR BUDGETS. IS THAT SOMETHING WE WILL SEE LATER ON? RYAN: WE MIGHT SEE THAT MOST PARTICULARLY WITH SOMETHING LIKE APPLE, WHICH IS A VERY CONSUMER-FACING NAME.MICROSOFT IS MORE FOCUSED ON THE
ENTERPRISE. MAY BE LESS FOCUSED FROM META AND ALPHABET. THERE IS ALL VIA SLEEVE A CORRELATION BETWEEN AD SPIN AND OVERALL ECONOMIC GROWTH, THE CONSUMER STORY, BUT IF THERE IS BROADER UNCERTAINTY YOU WILL SEE A BROADER PULLBACK HERE. I'M NOT SO CONCERNED FROM A REVENUE PERSPECTIVE OUTSIDE OF COMPANIES LIKE APPLE, WHICH IS ALREADY STRUGGLING TO SEE ROBUST DEMAND FOR THE LATEST IPHONE. JACKIE: THANK YOU SO MUCH FOR JOINING US. MEANWHILE, REPRESENTATIVE
DONALD IS PLANNING TO INTRODUCE LEGISLATION TO CODIFY AN EXECUTIVE ORDER, TO ESTABLISH A BITCOIN RESERVE PASSING THE BILL WOULD ENSURE THAT THE RESERVE AND STOCKPILED COULD NOT BE LIMITED BY FUTURE EXECUTIVE ACTION BY FUTURE PRESIDENT DOWN THE LINE PROTECTING CRYPTO-FRIENDLY POLICY THAT PRESIDENT TRUMP EMBRACED. KATIE: TRADITIONAL FINANCE EXECUTIVES HAVE ALSO BEEN EMBRACING CRYPTO AND TALKING BUSINESS OPPORTUNITIES. THAT IS A SHIFT IN SENTIMENT TOWARDS DIGITAL ASSETS AND IT WAS ON DISPLAY AT THE FUTURES CONFERENCE IN FLORIDA. TALK US THROUGH WHAT THE MOOD ON THE GROUND WAS. I LOOK AT THE MARKET COME THE CRYPTO MARKET. OUTSIDE OF TODAY, IT SEEMS LIKE SENTIMENT HAS BEEN PRETTY BAD.
>> THE CRYPTO MARKET IS REALLY COMING -- WINTER IS COMING, AS WE SAY IN CRYPTOLAND. BROADLY, THERE ARE STRUCTURAL SHIFTS IN THE INDUSTRY THAT BODE WELL FOR THE LONG-TERM IN TERMS OF CRYPTO. THE MAIN THING WAS THERE WERE SO MANY ESTABLISHED EXCHANGES TALKING ABOUT CRYPTO OFFERINGS.
LAST YEAR WE SAW THE GROWTH OF ETF'S COMING ON BOARD. IT DOESN'T FEEL LIKE IT WAS THAT LONG AGO WE DIDN'T EVEN HAVE A CRYPTO ETF. NOW THERE ARE CRYPTO DERIVATIVES PEOPLE CAN TRADE. THE SINGAPORE EXCHANGE LOOKING TO LAUNCH.THEY HAVEN'T HAD APPROVAL FROM SINGAPORE AUTHORITIES YET, BUT THEY ARE TRYING TO LAUNCH CRYPTO PERPETUAL'S THAT WERE FAMOUSLY TRADED ON FTX. IT'S A SIGN THAT MAY BE THE PARTY WILL CARRY ON FOR CRYPTO. JACKIE:
BERNARD, I WANT TO TALK ABOUT THE OTHER STRUCTURAL CHANGES THAT YOU ALLUDED TO. PREDICTION MARKETS ARE STARTING TO COME UP IN THIS SECTOR. I'M CURIOUS WHAT YOU SEE IS THE IMPACT ON SOME OF THE NEWER PLAYERS, ON FUTURES MARKETS, FOR EXAMPLE? BERNARD: MARKETS ARE CHARACTERIZED BY FEAR AND GREED. WE SAW BOTH OF THAT ON DISPLAY. I SPOKE TO THE CEO OF NINJA TRADER, AND THEY WERE REALLY KEEN ON THE PREDICTION MARKET PLAYERS. SAYING, YOU CAN BET ON THE SUPER BOWL, YOU CAN GO TO A CASINO, YOU CAN GO TO A SPORTS-BETTING PLACE, OR YOU CAN DO THAT WITH FUTURES. WE ARE SEEING REAL RESERVATIONS AND THE REGULATORY COMMUNITY ABOUT THESE EVENTS CONTRACTS.
WHAT WAS STRIKING WAS A CLOSE OUT LIE OF DONALD TRUMP, THE CEO OF ONE OF THE COMPANIES WE WERE JUST TALKING ABOUT, SAYING WE NEED TO DRAW A LINE BETWEEN GAMBLING AND TRAINING, INVESTING, GIVING PEOPLE THE OPPORTUNITY TO HEDGE. ONE RULE THAT I'VE GOT IS, IF THERE IS A BALL INVOLVED, YOU ARE PROBABLY LOOKING AT THE GAMBLING SIDE RATHER THAN INVESTING. KATIE: TALK US THROUGH HOW THIS CONVERSATION FACTORS INTO WHAT WE ARE SEEING IN THE MARKET? COIN IS ABOVE $80,000 PER COIN. WE GOT BELOW IT.
IT SEEMS LIKE THE DAYS OF $100,000 PER COIN SEEM PRETTY DISTANT. YOU TALK ABOUT THE OPTIMISM YOU'RE FEELING WHEN YOU TALK TO THESE EXECUTIVES AND CONFERENCE ATTENDEES, BUT WHAT IS GOING ON IN MARKETS? BERNARD: THESE ARE EITHER FUTURES EXCHANGE EXECUTIVES OR EXECUTIVES OF PROPRIETARY TRADING COMPANIES. THEY MAKE MONEY WHICHEVER WAY MARKETS GO.
REALLY, THE MAIN SENTIMENT IS THAT THERE IS A LOT OF VOLATILITY AND THE VOLATILITY IS GREAT NEWS IF YOU'RE RUNNING AN EXCHANGE. IF YOU ARE A MARKET MAKER. IT MIGHT BE LESS GOOD NEWS IF YOU ARE A RETAIL INVESTOR THAT DECIDED TO BUY AND HOLD BITCOIN OR AETHER. JACKIE: THANK YOU FOR JOINING US. COMING UP, SHARES OF RUBRIC AND DOCUSIGN ARE SURGING AFTER AN EARNINGS BEAT. THAT IS NEXT. THIS IS BLOOMBERG. ♪
KATIE: SHARES OF RUBRIC ARE FLYING TODAY UP ABOUT 25% AFTER THE SECURITY SOFTWARE COMPANY POSTED A BETTER THAN EXPECTED FOURTH-QUARTER REVENUE AND STRONGER THAN EXPECTED FIRST-QUARTER OUTLOOK. FOR MORE WE ARE JOINED BY THE RUBRIC CEO. IT IS GREAT TO HAVE YOU WITH US. LET'S TALK THROUGH THE FIRST
QUARTER FORECAST. IT SEEMS THAT IS WHAT A LOT OF THE SELL SIDE IS SEIZING ONTO. YOUR REVENUE FORECAST IS 260 $1 BILLION, WELL ABOVE THE ESTIMATE OF $241 BILLION. WHERE DID THE STRENGTH COME FROM? WHAT DO YOU SEE THAT LED YOU TO THIS UPGRADE? >> THANK YOU FOR THIS OPPORTUNITY.
WE HAD A STRONG END OF THE LAST FISCAL YEAR. THE Q4 SUBSCRIPTION REVENUE GREW 39% YEAR-OVER-YEAR. FREE CASH FLOW IN THE QUARTER AND THEN CASH FLOW POSITIVE FOR THE FULL YEAR. I LOVE OUR CUSTOMERS. I TRAVEL AROUND THE WORLD. I HAVE 400 PLUS MEETINGS LAST YEAR. WHAT WE ARE OBSERVING IS THAT CYBER RESILIENCY IS THE NUMBER ONE. EVERYONE IS WORRIED ABOUT
RANSOMWARE ATTACKS AND CYBER WHERE ATTACKS AND KEEPING BUSINESSES UP AND RUNNING YOUR RESPECTIVE OF ATTACKS. THAT IS DRIVING THE DEMAND FOR RUBRIK AND IS REFLECTED IN OUR GUIDANCE, 30% GROWTH IN TOPLINE REVENUE IN THE NEXT FISCAL YEAR. JACKIE: LET'S DIG DEEPER UNDER THE HOOD. ON THE EARNINGS CALL LAST NIGHT ANALYSTS WERE IMPRESSED THAT YOU ARE A YEAR AHEAD OF WHERE YOU THOUGHT YOU WOULD BE A YEAR AGO. WHEN WE THINK ABOUT THE
GENERATIVE AI OPPORTUNITY, OBVIOUSLY YOU GUYS WERE A HUGE BENEFICIARY OF THE CLOUD TRANSITION, WHICH SEEMS SILLY NOW BECAUSE IT IS SO COMMONPLACE. WHAT DOES AI DO FOR YOUR FUTURE GROWTH PROSPECTS? BIPUL: WE GATHERED STEAM IN THE ENTERPRISE. BUSINESSES HAVE TO TRANSFORM TO BE READY FOR GEN AI. THIS INVOLVES TRANSFORMATION THROUGH CLOUD AND TRANSFORMING THE DATA LANDSCAPE, THE UNDERSTANDING OF SENSITIVE DATA.
TO DELIVER SPONSOR F -- RESPONSIBLE AI, WE ARE DELIVERING AVAILABILITY OF THE DATA ENSURING THAT ONLY THE RIGHT DATA GOES TO THE RIGHT USER, THE RIGHT PLATFORM, THE RIGHT TIME, FOR THE RIGHT DURATION. JACKIE: WHEN IT COMES TO GEOPOLITICAL TENSIONS, THERE ARE NUMBER OF CONFLICTS. DO YOU SEE ANY SIGNAL OF INCREASED CYBER SECURITY THREATS THAT CORRELATE TO WHAT IS GOING ON IN THE WORLD? IS THAT GOOD FOR YOUR BUSINESS AT THE END OF THE DAY? BIPUL: OBVIOUSLY, IF YOU LOOK AT THE GEOPOLITICAL LANDSCAPE, STATE ACTORS, ESPIONAGE, CYBER THREAT. AS WE ARE DIGITIZING AND MOVING AND ADOPTING NEWER TECHNOLOGY FOR PRODUCTIVITY GAINS, ATTACKS KEEP INCREASING.
THIS HAS BEEN A SECULAR TREND. THE SHIFT IN THE LAST THREE TO FOUR YEARS IS THE REALIZATION THAT FOLKS CANNOT STOP ALL THE ATTACKS. IN THE LAST 25 YEARS EVERYONE INVESTED IN ATTACK PREVENTION. NOW THE FOCUS HAS MOVED TO SAYING ATTACKS WILL HAPPEN AND HOW DO WE ENSURE THAT OUR BUSINESSES KEEP RUNNING? SCHOOLS ARE STILL OPEN WHEN THE ATTACK HAPPENS. PEOPLE CAN GO TO SCHOOL OR THE HOSPITAL, BANKS CAN STILL GIVE OUT MONEY WHEN YOU SLEEP YOUR CREDIT CARD OR DEBIT CARD -- SWIPE YOUR CREDIT CARD OR DEBIT CARD. KEEPING THE BUSINESS UP AND
RUNNING IN THE GEOPOLITICAL ENVIRONMENT, CYBER WARFARE, IS HIGH-PRIORITY AND THAT IS DRIVING THE NEW VISION AROUND CYBER SECURITY RESILIENCY. KATIE: THE LAST FEW WEEKS YOU REMEMBER ELON MUSK SAYING THAT X WAS BEING CYBERATTACK. ED. I COULDN'T SEE MY FEED. IT WAS A SCARY TIME. I WONDER IF THIS IS A FACT OF LIFE? YOU THINK ABOUT THE HIGH-PROFILE CYBERATTACKS IN THE PAST COUPLE OF YEARS, COUPLE OF MONTHS, EVEN. IT SEEMS LIKE THERE HAS BEEN AN UPTICK AND THAT HAS NOT NECESSARILY ABATED. BIPUL: CYBERATTACK HAS FUNDAMENTALLY
CHANGED IN THE LAST FIVE TO SEVEN YEARS. IT USED TO BE A BORED TEENAGER SHOWING THE MIDDLE FINGER TO A LARGE CORPORATION BY BRINGING DOWN THEIR WEBSITE. NOW, IT HAS BECOME A CYBER CRIME WITH PEOPLE TRYING TO MONETIZE, PROTEST, OR DEMONSTRATE THAT THEY CAN TAKE A BUSINESS DOWN. IT IS A FUNDAMENTAL SHIFT TO
BUSINESSES. X WAS UNDER ATTACK AND THEY WERE TRYING TO BRING IT DOWN. THAT IS WHERE BUSINESSES ARE TODAY. IF YOU'RE NOT READY FOR A CYBERATTACK, NOT READY TO KEEP
YOUR SERVICES UP AND RUNNING DESPITE CYBERATTACK, THE BUSINESS WILL NOT EXIST. THAT IS WHAT EVERYONE IS LIVING IN. JACKIE: THE RUBRIK CEO, THANK YOU FOR JOINING US. DOCUSIGN, THE STOCK IS SURGING AFTER THE E-SIGNATURE COMPANY GAVE AN ENCOURAGING OUTLOOK. YOU STARTED SELLING AN AI-POWERED PRODUCT NOT LONG AGO, AND I WONDER HOW MUCH OF A ROLE YOU HAVE SEEN IN THAT GROWTH OF THAT PRODUCT? HOW MUCH OF A ROLE IS THAT PLAYING IN THIS BULLISH OUTLOOK? >> IT IS VERY IMPORTANT. IT WAS A VERY STRONG QUARTER FOR US.
THE COMBINATION OF A TRANSFORMATIVE YEAR FOR DOCUSIGN WHERE WE STABILIZED OUR CORE BUSINESS, GOT MORE PROFITABLE, TAKING OUR OPERATING MARGIN UP BY 10 PERCENTAGE POINTS IN 10 YEARS. AS YOU ALLUDED, WE INTRODUCED A NEW INTELLIGENT MANAGEMENT PLATFORM THAT IS VERY MUCH CENTERED AROUND AI. WE SAW NICE, EARLY SUCCESS, AND THAT ALLOWED US TO NOT ONLY PRINT SOME GOOD RESULTS, BUT SHO W AN INCREASE IN ACCELERATION IN BILLINGS GROWTH FOR NEXT YEAR. I THINK THE INVESTOR WOULD LIKE
THAT. KATIE: TALK TO US ABOUT WHAT THAT INNOVATION IS GOING TO LOOK LIKE GOING FORWARD. IF IT IS SUCH AN INTEGRAL PART OF THE GROWTH STORY GOING FORWARD, IS IT GOING TO BE WHAT WE SEE COMING OUT OF THE LANGUAGE MODEL DEVELOPERS, FOR EXAMPLE? THERE IS A NEW FEATURE EVERY MONTH THAT KEEPS US ON OUR TOES. FOR YOU GUYS, WHAT IS THE NEXT THING THAT WILL TAKE YOU TO THE NEXT LEVEL? ALLAN: I FEEL VERY FORTUNATE TO BE AT DOCUSIGN AT A TIME WHEN THERE IS SUCH AN INCREDIBLE IMPROVEMENT IN THE ABILITY OF AI. WE HAVE BEEN A USER OF AI FOR A LONG TIME. IT HAS BEEN INTEGRATED INTO OUR PRODUCTS.
THERE HAS BEEN A STEP CHANGE IN CAPABILITY. AGREEMENTS HAVE HISTORICALLY BEEN FLAT FILES INSIDE OF COMPANIES. PEOPLE COULD BARELY TELL YOU WHERE THEY WERE, LET ALONE WHAT IS IN THEM. WITH AI, WE CAN TRANSFORM THAT. I CAN TELL YOU WHAT IS IN ALL OF YOUR AGREEMENTS, IF THEY ARE UP FOR RENEWAL, KEY TERMS TO RENEGOTIATE, TERMS WHERE YOU AND YOUR VENDORS HAVE NOT BEEN PERFORMING. THAT IS A TOTAL GAME CHANGER THAT HASN'T BEEN POSSIBLE BEFORE.
WE HAVE A LOT OF HEADROOM FOR AI FEATURES. WE WILL BE PREVIEWING A LOT OF OUR NEW CAPABILITIES AND MOMENTUM NEXT MONTH IN NEW YORK. ALREADY, WE ARE SEEING TREMENDOUS ADOPTION AND INTEREST IN GETTING MORE VISIBILITY INTO AND CAPTURING AND USING THE DATA FROM YOUR AGREEMENTS. KATIE: I WANT TO TALK ABOUT HOW THIS
TRANSLATES INTO THE STOCK PRICE. YOU LOOK AT THE FIVE-YOUR CHART, WE ARE OBVIOUSLY FLYING HIGH DURING THE PANDEMIC. THAT CAME WITH A LOT OF VOLATILITY ON THE BACKEND.
YOU HAD A FANTASTIC 2024, UP 50% IN YOUR SHARES. THROUGH YESTERDAY'S CLOSE SHARES WERE DOWN 70% YEAR-TO-DATE, NOW THEY ARE UP 17% TODAY. A LOT OF VOLATILITY. WHAT IS YOUR MESSAGE TO INVESTORS ABOUT HOW YOU ARE GOING TO STABILIZE THE STOCK FROM HERE? ALLAN: I CANNOT CONTROL THE STOCK IN THE SHORT-TERM, BUT I CAN TELL INVESTORS THAT I THINK DOCUSIGN IS ON A TRANSFORMATION JOURNEY. WE PUT DOWN A VERY STRONG
FOUNDATION FOR THAT LAST YEAR. YOU CAN SEE OUR OPTIMISM ABOUT GROWTH ACCELERATION IN OUR OUTLOOK. WE THINK WE HAVE YEARS AHEAD OF THAT. THAT WILL FLOW THROUGH TO REVENUE AND OPERATING INCOME. THERE IS SO MUCH HEADROOM IN AGREEMENTS, AND DOCUSIGN IS BEST TAKEN POSITION AS THE LARGEST VENDOR FOCUSED ON AGREEMENTS TO CAPTURE THAT. WE ARE STARTING TO DEMONSTRATE
THAT WE HAVE THAT OPPORTUNITY. SO, THERE WILL BE A LITTLE VOLATILITY IN THE SHORT RUN, BUT I THINK THE LONG-TERM TRAJECTORY IS VERY POSITIVE. JACKIE: IN WASHINGTON, THERE HAS BEEN A LOT OF UNCERTAINTY WITH REGARDS TO THE ECONOMY. RECESSION FEARS ARE STARTING TO BUBBLE UP. POLICY, TARIFFS, A LOT HAS
BATTERED STOCKS ACROSS THE BOARD. FOR YOU, HOW DOES CONSUMER SENTIMENT AFFECT YOUR BUSINESS? ARE YOU MORE INSULATED GIVEN YOUR CUSTOMER BASE? ALLAN: WE ARE. WE ARE A VERY DIVERSIFIED CUSTOMER BASE ACROSS ALL SECTORS OF THE ECONOMY, ALL SIZES OF COMPANIES, AND OF COURSE GEOGRAPHICALLY. AS A RESULT, THINGS THAT AFFECT INDIVIDUAL SECTORS AND COMPANIES TEND NOT TO SHOW UP AS MUCH FOR DOCUSIGN. BUT IF WE TAKE THE BULK OF THE AGREEMENTS THAT GET EXECUTED WITH DOCUSIGN, OUR AGREEMENTS WITH CONSUMERS, EVEN THROUGH FEBRUARY WE HAVEN'T SEEN THE MATERIAL DEVIATION FROM TRENDS. SO FAR, IT HASN'T FLOWED THROUGH TO CONSUMER ACTIVITY AS WE CAN SEE IT. OBVIOUSLY, IF THE WORLD ECONOMY
ACCELERATES OR DECELERATES IN A MATERIAL WAY, THAT WILL ULTIMATELY AFFECT US. JACKIE: IN 30 SECONDS, I'M CURIOUS ABOUT THE COMPETITION. DROPBOX IS DEEMPHASIZING THEIR SIGNING BUSINESS. IS THIS AN OPPORTUNITY FOR YOU
GUYS? ALLAN: A LOT OF COMPANIES DEVELOP A SIX SIGNATURE SOLUTIONS. DOCUSIGN IS THE CLEAR MARKET LEADER. WE SET THE PACE AND ARE USUALLY THE PRODUCT OF PREFERENCE FOR SMALL AND LARGE COMPANIES.
I DON'T FOCUS ON INDIVIDUAL COMPETITORS, BUT I LIKE WHERE WE ARE SITTING FOR THE SIGN BUSINESS AND THE MUCH ROTTER PLATFORM FOR INTELLIGENT AGREEMENT MANAGEMENT. --BROADER PLATFORM FOR INTELLIGENT AGREEMENT MANAGEMENT. KATIE: HAVE A GREAT WEEKEND WHEN YOU GET THERE. DOCUSIGN CEO. JACKIE: NO ONE HAS BENEFITED MORE FROM THE AI BOOM THEN NVIDIA AND ITS CEO, JENSEN HUANG. WITH TROUBLING SIGNS AHEAD FROM THE LIKES OF DEEPSEEK OR PRESIDENT TRUMP'S TARIFFS COME THE NVIDIA CEO IS TRYING TO EXTEND THE GOOD TIMES.
LET'S TALK ABOUT THIS WITH IAN KING. YOU HAVE BEEN COVERING THIS COMPANY WAY BEFORE IT BECAME THE COOL KID ON WALL STREET AND SILICON VALLEY. WHAT IS NEXT FOR THE COMPANY NOW GIVEN WE HAVE SEEN IT'S NOT IMMUNE FROM NEW ENTRANTS COMING INTO THE AI SPACE? IAN: TO BE HONEST, AT THE MOMENT IT IS PRETTY SAFE IN TERMS OF COMPETITION. BUT THAT DOESN'T MEAN THAT THERE ARE NOT THOSE OUT THERE WHO ARE TRYING REALLY HARD.
WHAT WE WERE TRYING TO SHOW IN THE STORY IS CEO JENSEN HUANG IS NOT GETTING HAPPY, FAT, AND LAZY WITH HIS BILLIONS OF DOLLARS. HE IS OUT THERE EVERYWHERE HE CAN. HIS MISSION IS TO GET AI INTO THE ECONOMY AS FAST AS HE CAN AND MAKE IT AS PERVASIVE AS HE CAN. THAT IS FUNDAMENTAL TO WHETHER THIS GROWTH STORY HAS LEGS OR NOT. KATIE:
HAPPY, FAT, AND LAZY. THAT SOUNDS LIKE EVERY CAT'S DREAM. MY FAVORITE CHART IN THE WORLD RIGHT NOW, INTEL VERSUS NVIDIA TO DATE. IT IS A STUNNING REVERSAL OF FORTUNES. NVIDIA, WHICH HAS BEEN THE DARLING, DOWN ON A TOTAL RETURN BASIS NEARLY 10%. FROM THE FOLKS THAT YOU SPEAK
TO, IN 45 SECONDS? IAN: THIS IS WHAT IS GOING ON WITH INTEL ON THE CORPORATE LEVEL THAT IS CAUSING PEOPLE TO BE TRADING IN AND OUT OF IT. FUNDAMENTALLY, THE FLOW OF WEALTH IS SOLIDLY IN NVIDIA'S DIRECTION, EARNINGS, PROFIT, MARGIN, OR ANYTHING ELSE. JACKIE: IAN KING, THANK YOU FOR JOINING US. COMING UP, THE CEO OF TALENT HERE -- PALENTIER. GOVERNMENT SPENDING AND GETTING THE MOST OUT OF ARTIFICIAL INTELLIGENCE. THIS IS BLOOMBERG. ♪ KATIE: WELCOME BACK TO BLOOMBERG TECHNOLOGY.
KATIE GREIFELD IN NEW YORK. LET'S GET A CHECK ON THESE MARKETS AND START BROAD WITH THE NASDAQ 100 REALLY POPPING TODAY, TOPPING 2% RIGHT NOW IN TERMS OF INTRADAY GAINS. IT IS A DEEP HOLE ON A WEEKLY BASIS, BUT AT LEAST TODAY WE ARE SEEING A BIG RISE. WE START WITH META PLATFORMS COME UP TO PERCENT AFTER PRESIDENT TRUMP SUGGESTS THAT META MAY INVEST $60 BILLION IN THE U.S. BY THE END OF 2025. GETTING ON BOARD, YOU CAN SEE SHARES ARE BEING REWARDED TO THE TUNE OF 2%. PALANTIR, ONE OF YOUR LAGGARDS OVER THE PAST COUPLE OF WEEKS, UP 8.4% TODAY AFTER THE CEO
INKS A NEW DEFENSE STARTUP MANUFACTURING DEAL. YOU CAN SEE SHARES OF 8% RIGHT NOW. JACKIE: PALANTIR TECHNOLOGIES HAS ANNOUNCED A NEW PARTNERSHIP WITH HEALTH CARE SOFTWARE PROVIDER R1. CAROLINE HYDE SPOKE WITH ALEX KARP AND THE R1 CEO ABOUT THE DEAL AND HOW COST-CUTTING IN WASHINGTON AND CORPORATE AMERICA THAT IMPACT THEIR PLANS. >> PEOPLE WHO ARE BASICALLY ANTI-REFORM, ANTI-DOGE PEOPLE, ANTI-TECH PEOPLE, EVERYONE HAS THEIR EXCUSE.
MANY ARE LIKE I WOULD RATHER HAVE A STEAK DINNER WITH A MODEL PROVIDER AND FEEL COOL. IT DOESN'T WORK. YOU HAVE THE GOVERNMENT VERSION, WE CAN'T DO ANY REFORM, THE WHOLE THING HAS TO SUCK. AT A HIGH LEVEL, WHAT AMERICA IS GOING THROUGH, AND THIS IS GOING TO BE A CRUCIAL EXAMPLE OF THIS, YOU ARE GOING TO SEE THE SYSTEM WORK BETTER AT A LOWER COST. THIS IS A MACRO TREND THAT IS UNSTOPPABLE. IT BASICALLY MEANS THAT THOSE WHO RUN TOGETHER ARE GOING TO TAKE OVER THE WHOLE MARKET.
I VERSION OF THIS IS THE CARE AND ECONOMICS ARE GOING TO BE SO MUCH BETTER THEY ARE GOING TO TAKE OVER THE WHOLE MARKET. >> YOU HAVE MOST OF THE MARKET OF TOP HEALTH SYSTEMS, BUT HOW ARE THOSE LEADERS IN HEALTH WANTING TO WORK WITH YOU AT THE MOMENT? THERE IS A LOT OF ANXIETY, FUTURE ECONOMIES, AND IF PEOPLE WANT TO LEAN INTO NEW CONTRACTS, RELATIONSHIPS, PARTNERS. >> WE HAVE HAD GREAT RECEPTIVITY FROM HEALTH SYSTEMS AND THE BROADER MARKET.
WE ARE 100% ALIGNED WITH THEIR OBJECTIVES. WE WANT TO TRANSFORM THE EXPERIENCE FOR THE PATIENT AND PHYSICIAN. THOSE ARE THE TWO USERS OF THIS PROCESS. WE WANT TO UNLOCK FINANCIAL
CAPACITY FOR OUR CUSTOMERS THAT CAN BE REINVESTED IN CLINICAL EXCELLENCE SUPPORTING THEIR COMMUNITIES. THE REALITY IS, THE DESIGN OF THIS OPERATION -- WHEN YOU LOOK AT THE OUTCOMES THAT I MENTIONED, YOU HAVE TO BREAK THAT DOWN. WHAT IS THE ARCHITECTURE TODAY? THE $160 BILLION SPENT TO CONVERT REVENUE TO CASH, 80% IS LABOR. 20% IS TECHNOLOGY. THE TECHNOLOGY IS BRITTLE. IT DOESN'T HAVE THE ABILITY TO HARNESS THE POWER OF THESE MODELS.
WE SPENT A LOT OF TIME AND FOUND THERE IS AN ABUNDANCE OF RAW INTELLIGENCE AND SHORTAGE OF TECHNOLOGY COMPANIES THAT UNDERSTAND HOW TO APPLY, CONFIGURE, ORCHESTRATE, AND APPLY THAT INTELLIGENCE TO TRANSFORM AN OUTCOME. WE ARE REALLY EXCITED TO PARTNER WITH PALANTIR ON SOLVING THAT PROBLEM. >> DR. KARP, ARE YOU PRO-OR ANTI-DOGE? >> WE ARE SUPPOSED TO HAVE A NORMAL, ADULT INTERVIEW, SO I DON'T WANT TO GO DOWN -- BUT EVERYWHERE I HEAR DEMOCRATS ARE INVOLVED IN A SUICIDE DANCE. THERE ARE TWO MACRO TRENDS. TRANSPARENCY AND OPTIMIZATION OF THE ACTUAL WORK PRODUCT. WHETHER IT IS IN GOVERNMENT OR COMMERCIAL.
AI IS THIS UNSTOPPABLE TREND. IT'S UNSTOPPABLE BECAUSE YOU CAN MAKE THE ACTUAL WORK PRODUCT BETTER, AND YOU CAN CHANGE UNIT ECONOMICS, WHICH IS A FANCY WAY OF SAYING YOU CAN DO IT BETTER AND CHEAPER. NOTHING IS GOING TO STOP THAT. WHAT WE SHOULD ALL BE DOING IS FINDING WAYS TO REFORM EVERY INSTITUTION AS SOON AS POSSIBLE. IN THE COMMERCIAL SPACE, IF YOU DON'T DO IT YOUR COMPETITOR IS, AND THEY ARE GOING TO HAVE A MUCH BETTER PRODUCT AT A MUCH BETTER PRICE, COST OF REVENUE. >> WE ARE WORRYING ABOUT DEFENSE SPENDING GETTING H -- GETTING CUT. >> I AM IN FAVOR OF WHATEVER IS GOOD FOR AMERICA AND SUPER IN FAVOR OF MERITOCRACY. BUY THE BEST PRODUCTS, LOOK AT
THE UNIT ECONOMICS, AND THAT SHOULD BE GOOD FOR THE WHOLE COUNTRY. IT WILL BE GOOD ENOUGH FOR PALANTIR. I'M VERY SUPPORTIVE OF ANYTHING THAT BRINGS BETTER OUTPUT AT A LOWER COST IN A TRANSPARENT MANNER. BY THE WAY, THIS IS THE SINGLE BIGGEST ADVANTAGE THAT AMERICA HAS. WE HAVE THE MOST SOPHISTICATED, MOST INTELLIGENT, BEST-TRAINED CORPORATE LEADERS IN THE WORLD. WE HAVE THE BEST PEOPLE FROM ALL OVER, INCLUDING YOU, AND WE HAVE TO LEAN INTO THIS.
THAT IS GOING TO BE VERY, VERY GOOD FOR OUR COUNTRY. AND IT'S NECESSARY, BECAUSE PEOPLE EXPECT THE BEST PRODUCT AT THE BEST PRICE. KATIE: THAT WAS ALEX KARP, THE CEO OF PALANTIR, AND JOSEPH FLANAGAN, THE CEO OF R1 SPEAKING TO CAROLINE HYDE. LET'S GET MORE DETAIL WITH LIZETTE CHAPMAN.
YOU WROTE THAT ANALYSTS EXPECT PALANTIR'S COMMERCIAL REVENUE TO OVERTAKE ITS GOVERNMENT REVENUE THIS YEAR, AND I HAVE TO IMAGINE THAT THE PARTNERSHIPS GO A LONG WAY TOWARDS FURTHERING THAT? LIZETTE: THAT IS THE EXPECTATION FOR SURE. PALANTIR STARTED IN GOVERNMENT AND HAVE BEEN EXPANDING INTO COMMERCIAL SINCE THEN. WHAT WE HEARD ABOUT WITH THE PARTNERSHIP WITH R1 IS ONE OF A BLITZ OF DIFFERENT PARTNERSHIPS THAT PALANTIR HAS DONE OVER THE PAST SEVERAL WEEKS, MONTHS. THEY HAD ONE WITH TWG TO DISTRIBUTE ITS SOFTWARE TO ALL OF ITS FINANCIAL INSTITUTIONS AND INSURANCE COMPANIES. THIS IS THEM APPLYING THE SAME PLAYBOOK TO HEALTH CARE.
JACKIE: IT SEEMS LIKE THE WORD EFFICIENCY IS REALLY THE BUZZ WORD, ESPECIALLY WITH DOGE RUNNING AROUND HERE IN WASHINGTON. CAROLINE ASKED DR. KARP, ARE THEY SEEING ANY CONCERN? ARE INVESTORS FREAKING OUT ABOUT THE FACT THAT COST-CUTTING COULD AFFECT THEIR BUSINESS? HERE'S WHAT HE HAD TO SAY. >> WE ARE FOCUSED ON VALUE CREATION. VALUE CREATION IN THE END WILL BE REWARDED HEAVILY BY INVESTORS.
>> AND BY THE GOVERNMENT? INVESTORS ARE FREAKING OUT THAT THE GOVERNMENT WON'T STICK WITH YOU THROUGH THIS COST ENDEAVOR, DR. KARP. >> I HAVE NO IDEA WHAT YOU'RE TALKING ABOUT, HONESTLY. I'M NOT TRYING TO BE DIFFICULT. I'M NOT FREAKING OUT. I'M VERY HAPPY. WHO IS FREAKING OUT? >> I KNOW ANALYSTS YOU DON'T ALWAYS PAY THAT MUCH ATTENTION TO.
>> PLEASE, FREAK OUT. WHAT DO YOU ADVISE THE DEMOCRATIC PARTY? IT'S RIDICULOUS. JACKIE: I'M CURIOUS WHAT YOU MAKE OF THAT GIVEN WHAT YOU'VE WRITTEN ABOUT, THE COMPANY SHIFTING MORE TOWARDS A COMMERCIAL STRATEGY HERE? LIZETTE: IT IS NOT SHIFTING FROM GOVERNMENT TO COMMERCIAL, IT IS EXPANDING. WHAT HE SAID IS CONSISTENT WITH THE MESSAGE THAT HE AND THE COMPANY HAS BEEN GIVING TO THE MARKET AND OTHERWISE FOR THE PAST DECADE PLUS. DEFINITELY SINCE THEY WENT PUBLIC. THE POINT HE IS MAKING IS, WE DON'T CARE ABOUT THESE SHORT-TERM INFLECTION POINTS OR WHAT THE STOCK DOES ONE TIME OR ANOTHER.
A REMINDER THAT HE, PETER THIEL, STEPHEN COHEN HAVE CONTROL IN PERPETUITY. IF THE STOCK JUMPS A LOT OR A LITTLE IS IRRELEVANT IN HIS MIND TO THE LONG-TERM CREATION THEY ARE PLAYING. JUST TO PUNT AN ASTERISK ONTO HIS COMMENT ABOUT WHO IS FREAKING OUT, WE ARE NOT FREAKING OUT, AGAIN THAT IS CONSISTENT WITH WHAT HE HAS BEEN SAYING ALL ALONG. THE CONFLICT BETWEEN A LOT OF THE RETAIL INVESTORS AND THE WALL STREET ANALYSTS. PERCEPTION OF THE VALUE OF THIS COMPANY WITH IT BEING VERY MUCH A RETAIL-DRIVEN STOCK. KATIE: DIFFERING PERSPECTIVES AND TIMELINES, AND IT'S IMPORTANT TO KEEP THAT IN MIND. SOMETHING ELSE KARP SAID IS,
UNTAMED DEMAND FOR AI TOOLS HAS OUTSTRIPPED SUPPLY. IS THAT STILL THE CASE? LIZETTE: THAT IS A GREAT QUESTION. THE WAY THAT HE WAS FRAMING THAT WAS THEY BASICALLY DIDN'T HAVE A SALESFORCE TO SELL THE SOFTWARE. THEY HADN'T EXPANDED THAT MUSCLE. WHAT THEY DID IS CREATED A SERIES OF BOOT CAMP HACK-A-THONS WITH CODERS SITTING SIDE-BY-SIDE WITH AN EXECUTIVE LEAD FROM ONE OF THESE COMPANIES.
I ATTENDED ONE IN DETROIT WITH CATERPILLAR AND A NUMBER OF OTHER ONES. THE IDEA WAS TO GET PEOPLE ON-PREM QUICKLY AND TEACH PEOPLE HOW TO USE IT AND HAVE IT SELL ITSELF. THAT IS WHAT HE IS REFERRING TO. THEY DIDN'T HAVE ENOUGH PEOPLE TO SELL IT. THAT IS SOMETHING THAT WILL BE INTERESTING TO CONTINUE TO TRACK. JACKIE: THANKS SO MUCH FOR JOINING US. STILL TO COME, WE ARE JOINED TO
TALK ABOUT WHY THE FIRM ISN'T PULLING BACK FROM D.E.I. FOCUSED INVESTING UNDER THE TRUMP ADMINISTRATION. THIS IS BLOOMBERG. TERMINAL AND ONLINE ON APPLE, SPOTIFY, AND IHEART. THIS IS BLOOMBERG.
JACKIE: IT IS TIME FOR OUR VC SPOTLIGHT. THE FIRM INVESTS IN SEED STAGE STARTUPS WITH A FOCUS ON DIVERSE FOUNDERS. MARY HIM RIVERA -- MIRIAM RIVERA IS HERE THIS MORNING. IT IS QUITE A TIME FOR ANYTHING
FOCUSED ON DIVERSITY, EQUITY, AND INCLUSION. TALK ABOUT RAISING A FUND IN AN ENVIRONMENT LIKE THIS. MIRIAM: THIS IS A CHALLENGING TIME TO RAISE A FUND, BUT FORTUNATELY WE WERE OUT OF THE MARKET BEFORE THE ELECTION RESULTS WERE IN.
THE CHALLENGE THAT WE EXPERIENCED DURING OUR TIME WAS THE BANK FAILURES. THAT WAS THE PREDOMINATE ISSUE THAT SCARED INVESTORS. FORTUNATELY, THE FEDERAL GOVERNMENT DID SUPPORT THE DEPOSITORS AT SILICON VALLEY BANK AND FIRST REPUBLIC BANK AND OTHER BANKS IN THE COUNTRY THAT WERE IMPACTED AND HAD A PARTICULAR POTENTIAL TO IMPACT THE TECH ECONOMY. JACKIE: IT FEELS LIKE FOREVER AGO WE
SAW SILICON VALLEY BANK TUMBLE. THE OTHER BIG QUESTION AROUND SEED STAGE INVESTING, BECAUSE IT TAKES SO MUCH -- A REAL SKILL. YOU ARE PLACING A BET ON A FOUNDER, A PERSON. IT'S USUALLY BEFORE THEY HAVE STARTED GENERATING ANY REVENUE.
HOW ARE YOU SEEING THE OPPORTUNITY SET IN THAT PART OF THE MARKET AT A TIME WHEN ANY COMPANY THAT ISN'T IN THE AI SPACE IS HAVING A HARD TIME RAISING? MIRIAM: IT'S TRUE THAT THERE HAS BEEN A CONCENTRATION OF CAPITAL IN LARGER FUNDS AND IN AREAS LIKE AI. WE HAVE BEEN INVESTING IN AI AND MACHINE LEARNING FOR OVER 15 YEARS, SO THAT'S NOT NEW. WHAT IS NEW IS THAT THIS IS AN INFRASTRUCTURE PLAY, AND THAT IS WHY A LOT OF CAPITALS GOING IN THAT DIRECTION.
WE TEND TO BE FOCUSED ON THE APPLICATION LAYER AT ULU VENTURES. A TIME OF GREAT OPPORTUNITY IS COMING AS ALL OF THESE OTHER FOUNDATIONAL AI'S ARE BUILT AND CAN BE APPLIED IN DIFFERENT SECTORS OF THE ECONOMY, AREAS INCLUDING HEALTH CARE, LEGAL TECH, EDUCATION. WE ARE INVESTING IN MANY OF THE APPLICATIONS THAT ARE BENEFITING FROM AI AND HELPING BRING LOW-COST TECHNOLOGY TO AREAS WHERE, PERHAPS, THEY HADN'T HAD AS MUCH ACCESS BECAUSE THE COST OF SOFTWARE. KATIE: JACKIE TOUCHED ON THE MACRO ENVIRONMENT.
I WANT TO TALK ABOUT THE POLITICAL ENVIRONMENT. YOU HAD THIS FOCUS ON INVESTING ON DIVERSE FOUNDERS, INVESTING ALONGSIDE DIVERSE FOUNDERS. WE KNOW THAT THIS ADMINISTRATION HAS STRONGLY CRITICIZED D.E.I. AND THERE HAS BEEN A MASSIVE PULLBACK AT THE GOVERNMENT LEVEL. WHAT DO YOU MAKE OF THAT? DOES THAT MEAN ANYTHING FOR YOUR STRATEGY? MIRIAM: OUR BELIEF IS THAT DIVERSITY IS AN INVESTMENT BASIS FOR US. WE BELIEVE THAT IS HOW WE WILL FINANCIALLY OUTPERFORM. PART OF THE REASON IS, 70% OF
AMERICANS FALL INTO A BUCKET CALLED DIVERSITY. WE ARE TALKING ABOUT WOMEN. WE ARE TALKING ABOUT PEOPLE OF COLOR. WE ARE TALKING ABOUT UNDERREPRESENTED MINORITIES SUCH AS BLACK AND LATINX AND IMMIGRANT AMERICANS. IT TURNS OUT, THAT'S THE MAJORITY OF AMERICANS.
I BELIEVE ANYONE WHO IS NOT INVESTING IN DIVERSE FOUNDERS IS GIVING UP THE OPPORTUNITY TO BE PART OF THE TRADITION OF THIS GREAT COUNTRY, OF BENEFITING FROM THE TALENT WE HAVE WHEREVER IT COMES FROM. THAT IS ONE OF THE MOST IMPORTANT THINGS ABOUT ENTREPRENEURSHIP. IT'S ONE OF THE FEW BIPARTISAN ASPECTS OF OUR SOCIETY TODAY, POLITICALLY. EVERYONE BELIEVES AMERICANS SHOULD HAVE A RIGHT TO START BUSINESSES.
THAT THEY ARE ABLE TO BRING BENEFIT TO THE ECONOMY. THAT'S WHAT WE ARE TRYING TO DO. 80% OF OUR FOUNDERS ARE DIVERSE, MEANING THAT THEY FALL INTO ONE OF THE CATEGORIES I MENTIONED. 80% OF OUR TEAMS ALSO INCLUDE WHITE PEOPLE. IT IS NOT EXCLUSIONARY.
DIVERSITY MEANS THAT WE HAVE ALL PERMUTATION OF FOUNDERS ON OUR TEAMS. JACKIE: FOCUSING ON THE EARLIER STAGE COMPANIES, I'M CURIOUS HOW YOU ARE LOOKING AT THE PIPELINE OF TALENT FLOWING INTO SILICON VALLEY, PARTICULARLY AT A TIME WHEN FUNDING FOR UNIVERSITIES IS STARTING TO GET PINCHED. IS THIS A MOMENT WHERE THE VENTURE COMMUNITY COULD STEP IN, GIVEN SO MANY OF THESE SCHOOLS REALLY DO PROVIDE THE TALENT THAT SILICON VALLEY RELIES ON? MIRIAM: WELL, I THINK IT'S IMPORTANT TO SAY OUR UNIVERSITY SYSTEM IS ONE OF THE BEST IN THE WORLD.
IT'S ONE THAT IS EMULATED THROUGHOUT ENTREPRENEURSHIP IN AMERICA IS EMULATED THROUGH THE WORLD. I'VE BEEN IN ECOSYSTEMS INTERNATIONALLY DOZENS OF TIMES. THEY ARE TRYING TO IMPLEMENT AMERICAN ENTREPRENEURSHIP, AMERICAN VENTURE-CAPITAL-TYPE INVESTING IN MANY EMERGING ECONOMIES AROUND THE WORLD. THE UNIVERSITIES ARE A FOUNDATIONAL PIECE OF THAT. THE RESEARCH THAT IS DONE AT THOSE INSTITUTIONS BENEFITS ALL AMERICANS, AND FRANKLY THE ENTIRE WORLD. WHEN WE DO HEALTH CARE RESEARCH, WHEN WE DO TECHNOLOGY RESEARCH WE END UP CREATING THE FUTURE BUSINESSES THAT DRIVE OUR ECONOMY. YOU HAD ALEX KARP FROM PALANTIR
ON. WE WERE AN EARLY INVESTOR IN PALANTIR. ALEX IS HALF BLACK, HALF JEWISH. ONE OF HIS COFOUNDERS IS GAY AND AN IMMIGRANT. THIS IS AMERICA AND THIS IS DRIVING THE FUTURE OF OUR ECONOMY. KATIE: THAT IS A GOOD NOTE TO LEAVE IT ON. THAT IS MIRIAM RIVERA, THE CEO OF ULU VENTURES.
APPLE PLANTS A NEW AIRPODS FEATURE THAT COULD HELP IN YOUR INTERNATIONAL TRAVELS. DETAILS COMING NEXT. THIS IS BLOOMBERG. KATIE: IT IS TIME FOR TALKING TECH. SHEIN'S EXECUTIVE CHAIRMAN SAYS THAT HE IS COMMITTED TO TAKING THE COMPANY PUBLIC AS THE COMPANY GRAPPLES WITH ACCUSATION THAT IT TOLERATED LABOR VIOLATIONS AMONG CHINESE PROVIDERS AND TARIFF CHALLENGES FROM THAT TRUMP. THEY CONFIDENTIALLY FILED PAPERS IN JUNE FOR A LONDON LISTING. ON THE HUNT FOR NEW INVESTORS, CONSIDERING SELLING A MINORITY STAKE IN A NEW ADVENTURE ACCORDING TO PEOPLE FAMILIAR. THE GAME MAKER CONTACTED
POTENTIAL BIDDERS, INCLUDING TENCENT, AND HAS ASKED FOR PRELIMINARY BIDS TO BE MADE AS SOON AS THIS MONTH. EDITION U.S. OFFICIALS HAVE HELD TALKS TO ALLEVIATE CONCERNS THAT THE U.K. IS TRYING TO FORCE APPLE TO BUILD A BACKDOOR INTO ENCRYPTED DATA ACCORDING TO SOURCES. THIS COMES WEEKS AFTER APPLE REMOVED ITS ENCRYPTED SECURITY FEATURES FOR CLOUD DATA IN THE U.K. IN RESPONSE TO A BRITISH ORDER THAT ASKED APPLE TO CIRCUMVENT ENCRYPTION. LET'S STAY ON APPLE PAY THE COMPANY IS SET TO BE WORKING ON A LIVE TRANSLATION FEATURE INTO ITS AIRPODS IN A FUTURE SOFTWARE UPDATE. THIS NEWS WAS BROKEN BY MARK,
AND HE JOINS US FOR MORE. TALK ABOUT THE OPPORTUNITY SET THAT APPLE SEES. YOU THINK ABOUT RIVALS. YOU HAVE A GOOGLE PIXEL BUDS ALREADY WITH THIS OPTION. MARK: THIS IS A BIT OF A CATCH-UP FEATURE BUT IS BECOMING A STANDARD FEATURE IN EARBUDS. GOOGLE HAS THIS, SAMSUNG IS
GOING TO HAVE IT AT SOME POINT IN A BIG WAY. APPLE IS GOING TO HAVE IT LATER THIS YEAR. THE WAY THAT IT WORKS IS YOU CAN BE WEARING THE EARBUDS, BEING AN ENGLISH SPEAKER SPEAKING TO SOMEONE TALKING TO YOU IN JAPANESE. AS THEY ARE SPEAKING THE
JAPANESE WILL LIVE TRANSLATE INTO ENGLISH INTO YOUR EARS. WHEN YOU SPEAK BACK, YOU WILL SHOW THEM YOUR PHONE OR APPLE DEVICE AND WHAT YOU SPEAK WILL BE TRANSLATED INTO JAPANESE FOR THEM TO READ. THIS IS A FEATURE THAT GOOGLE HAS HAD, BUT IT'S IMPORTANT FOR APPLE TO HAVE IT TOO. THEY ARE TRYING TO TURN AIRPODS INTO THEIR OWN ECOSYSTEM, THEIR OWN PRODUCT LINE, INTO SOMETHING THAT PEOPLE KNOW THAT THEY CAN BUY, AND UNDERSTAND THERE WILL BE SOFTWARE UPDATES OVER TIME TO MAKE IT BETTER AND BETTER. THE SAME WITH THE MAC, THE IPOD, ETC., ETC. KATIE:
THE AIRPODS HAS BEEN A FOCUS FOR APPLE. BACK TO YOUR REPORTING AROUND HEARING HEALTH, THEY ARE TRYING TO INTRODUCE THAT AS WELL. LAY OUT VISION FOR THE AIRPODS ECOSYSTEM. MARK: THE GROWTH FOR APPLE IS NOT ON THEIR EXISTING PRODUCTS. IT IS ABOUT THE ACCESSORIES,
THE SERVICES, THE ATTACHMENTS, RIGHT? THEY NEED TO MAKE THE AIRPODS AS GOOD AS THEY CAN TO CREATE THAT GROWTH. A LOT OF PEOPLE HAVE IPHONES BUT NOT ALL OF THEM HAVE AIRPODS, APPLE WATCHES. THEY WANT TO MAKE THE PERIPHERAL PRODUCTS AS GOOD AS POSSIBLE, AS INTERESTING AS POSSIBLE TO GET MORE PEOPLE USING IT. THEY WANT PEOPLE ON OLD AIRPODS TO UPGRADE TO NEW AIRPODS. THE HEARING HEALTH FEATURE IS A PRO FEATURE. THIS WILL CREATE DIFFERENTIATION BETWEEN THE LOWER END AIRPODS, THE OLDER HEADPHONES, ANOTHER WAY TO GET PEOPLE TO UPGRADE. KATIE: THAT IS BLOOMBERG'S MARK GURMAN.
THAT DOES IT FOR THIS EDITION OF BLOOMBERG TECHNOLOGY. DON'T FORGET TO CHECK OUT OUR PODCAST. YOU CAN FIND IT ON THE TERMINAL, ONLINE, APPLE, SPOTIFY, AND IHEART. HAVE A GOOD WEEKEND. THIS IS BLOOMBERG. ♪
2025-03-17 01:09
