'Bloomberg Technology' Full Show (07/07/2023)
>> FROM THE HEART OF WHERE INNOVATION, MONEY AND POWER COLLIDE IN SILICON VALLEY AND BEYOND, THIS IS BLOOMBERG TECHNOLOGY. ♪ CAROLINE: I'M AT BLOOMBERG WORLD HEADQUARTERS IN NEW YORK. ED: I'M IN SAN FRANCISCO AND THIS IS BLOOMBERG TECHNOLOGY.
CAROLINE: WE WILL BREAK DOWN THE BATTLE BETWEEN TWITTER AND THREADS AS THE NEW APP AS 30 MILLION USERS. ED: ALIBABA SURGES AFTER THEY ARE ENDING ACE -- A REGULATORY REGIME. CAROLINE: WE WILL LOOK AT APPLE AS THEY ROLLOUT THE VISION PRO HEADSET. LET'S DIG INTO THE MARKET THAT TODAY IS DRIVEN BY THE MACRO.
WE SEE THE JOBS NUMBERS COMING IN WELL BELOW EXPECTATIONS AND RELIEF THAT MAYBE THIS IS A GOLDILOCKS SCENARIO THAT WE STILL HAVE A RAPID CLIP OF JOBS BEING ADDED BUT THE WAGE INFLATION WAS A WORRY BUT WE SEE THE NASDAQ AGAIN OUTPERFORMING IN THE BANK OF AMERICA DATA SHOWS THE FUND FLOWS ONCE AGAIN ARE BEING DRAWN TO TECH STOCKS. EVEN THOUGH BANK OF AMERICA SAYS WE ARE WORRIED ABOUT WHETHER OR NOT WE WILL SELL TECHNOLOGY IF WE GET THE RATE HIKE IN THE COMING MONTHS, THE U.S. TWO-YEAR GUILD IS PARING DOWN FIVE BASIS POINTS.
WE STILL SEE A RELATIVELY ROBUST OVERALL JOBS MARKET. I WANT TO FOCUS IN ON CHINA, UP MORE THAN 3%. I KNOW YOU WILL DIG INTO THE KEY COMPONENTS OF WHAT'S DRAGGING US HIGHER BUT IT'S IDIOSYNCRATIC.
LET'S LOOK IN TERMS OF THE RISK ASSETS. CRYPTOCURRENCY IS CURRENTLY UNDER PRESSURE, DOWN 0.6% BUT WE ARE TRENDING ABOVE THE 30,000 LEVEL, ECLIPSING 31,000 AT ONE POINT. ED: A LOT OF ENERGY ON MY SIDE. RIVIAN IS UP 13.7%, UP FOUR AND EIGHT STRAIGHT SESSION AND
TRADING AT A DECEMBER HIKE. WE SPOKE TO THE CEO EARLIER THIS WEEK, GETTING AN UPGRADE WHICH SEEMS TO BE A CATALYST BEHIND THE STOCK. TESLA WAS LOWER IN PREMARKET BUT UP 0.8%. MERCEDES IS THE LATEST NAME TO
JOIN ITS CHARGING STANDARD. WE WOULD DIG INTO THAT LATER IN SPEAKING OF CHINA, YOU ARE RIGHT, THIS IS AN IDIOSYNCRATIC STORY, THE HEADLINE IS CONCEIVABLY NEGATIVE, A $1 BILLION FINE FOR -- FROM CHINESE REGULATORS FOR ALIBABA AND OTHERS BUT THE IDEA IS THAT IT SIGNALS THE END OF THIS LONG-STANDING REGULATORY CRACKDOWN THE CHINA HAS HAD ON BIG TECH WITH BOTH THOSE STOCKS MARKEDLY HIGHER. LET'S GET TO MET TO COME OF FACEBOOK AND THREADS. WE ARE NOW UP THREE POINT 9%, 4% ON THE WII, KIND OF LET THIS FRIDAY. THE HEADLINE JUST CROSSING FROM MARK ZUCKERBERG ON THREADS, WE ARE AT 70 MILLION USERS ON THREADS. THIS IS CRAZY. THIS IS THE TOP STORY FOR THE SHOW, HOW QUICKLY THEY GOT THERE AND HOW QUICKLY ARE THEY GAINING GROUND ON TWITTER BUT JUST THE MOMENTUM IN 48 HOURS IS INCREDIBLE CAROLINE: AND HOW THEY MONETIZE IT AS WELL. DAVID LEE HAS BEEN WRITING ALL
ABOUT IT. A PRETTY UNFAMILIAR SETTING AND IT QUIETLY MATTERS, DO YOU THINK IT WILL LAST? LET'S LOOK AT ALL THE REST. I WANT TO ASK HOW DATE TO OF THE DESTINATION WEDDING IS GOING. IS THE PARTY STILL THERE AND PEOPLE REMAIN DEDICATED? >> EVERYONE IS HERE AND THE PEOPLE HAVE ARRIVED. SOON I GUESS WE WILL HAVE QUESTIONS ABOUT WHAT EXACTLY THE STAYING POWER OF THIS NETWORK IS. YOU ARE STARTING TO SEE WHAT THE FUTURE OF THREADS MIGHT BE DEPENDING ON WHAT THEY WILL BE ALLOWED TO DO ON THE PLATFORM.
THERE HAS BEEN SOME UNEASE ABOUT HOW SIMILAR IT WILL BE TO INSTAGRAMMING PEOPLE HAVE BEEN SAYING WE ARE ALL THE FEATURES? ON TWITTER, YOU CAN DO DIRECT MESSAGES AND MANY OTHER THINGS THE RIGHT NOW THREADS CANNOT DO. THE CEO OF INSTAGRAM IS SAYING DON'T WORRY, WE ARE WORKING ON IT. YOU JUST HAVE TO BE PATIENT BECAUSE WHAT THEY DID IS BECAUSE ELON MUSK IS HAVING TROUBLE WITH TWITTER, THEY MOVED OR. THEY CAPITALIZED ON THE TROUBLE SO THEY ARE NOT PERHAPS AS READY AS THEY WOULD LIKE TO BE BUT THAT INITIAL REACTION, 70 MILLION PEOPLE, EVEN THOUGH IT'S FACEBOOK AND THEY HAVE THIS BIG HEAD START AGAINST INSTAGRAM, GETTING 70 BILLION PEOPLE TO DOWNLOAD A NEW APP IN THE SPACE OF A COUPLE OF DAYS IS A REMARKABLE FEAT. CAROLINE: YOU MENTIONED ELON MUSK. IN A WEDDING, THERE IS THAT MOMENT WHERE SOMEONE MIGHT SPEAK AGAINST THIS NUPTIAL AND I FEEL ELON MUSK IS THAT GUY.
HE MIGHT SAY I PROTEST. WHAT IS GOING ON? WHAT IS THE REALISM OF THIS LEGAL LETTER? >> THE PARTICULAR LAWYER THAT SENT THE LETTER HAS BEEN THE RIGHT-HAND MANNED OF ELON MUSK AND ALL HIS LEGAL BATTLES. UNTIL WE SEE THE SUBSTANCE OF ANY COMPLAINT, IT'S HARD TO KNOW. LETTER MADE SOME CLAIMS THAT THERE WERE PEOPLE AT META THAT WERE TAKEN FROM TWITTER PURPOSELY TO BUILD THREADS. CAROLINE: EVEN THOUGH TWITTER HAS LOST SO MANY EMPLOYEES. >> THEY LET THEM GO THEMSELVES AND PERHAPS THEY HAVE GONE TO NEW JOBS AT META. THEY SAID NO FORM OF TWITTER
EMPLOYEES WERE INVOLVED. I THINK IT'S REALLY UP TO ELON MUSK AND HIS LAWYER TO BRING THAT EVIDENCE AND SAY THIS IS WHY WE HAVE A COMPLAINT. THERE IS A BIG JUMP BETWEEN THREATENING ACTION AND ACTUALLY TAKING LEGAL ACTION.
WE WON'T KNOW FOR A WHILE HOW SERIOUS ELON MUSK FEELS ABOUT BEING COPIED BY META. ED: JUST A QUICK POINT, I READ THE LETTER THAT WAS SENT TO MARK ZUCKERBERG AND LEGAL COUNSEL. IT WAS FUNNY, THE CEO OF TWITTER IS NOT ONE OF THE CO-SIGNATORIES AND SHE'S NOT IN THE COPY EITHER. IT'S SENT ON THE BEHALF OF ELON MUSK TO META, WHAT YOU MAKE OF THAT? >> THIS IS ANOTHER QUESTION OF THE DEGREE TO WHICH LINDA IS IN CHARGE OF TWITTER AT ALL. WHEN TWITTER HEADS ISSUES LAST
WEEKEND, LIMITING PROBLEMS WHERE YOU CAN ONLY SEE A CERTAIN NUMBER OF TWEETS, THE CEO OF THE COMPANY DID NOT SAY ANYTHING FOR SEVERAL DAYS IN HER INTERACTIONS WERE ONLY THE TWEETS THAT ELON MUSK WAS POSTED AND EVEN WHEN SHE WAS FIRST PUT INTO THAT JOB, THERE WILL ONLY BE ONE PERSON IN CHARGE OF TWITTER. WE SEEN THAT AGAIN WITH THIS LETTER. ONE OF THE THINGS I THINK IS STRIKING ABOUT A LAWYER IN PARTICULAR THAT IT WASN'T THAT LONG AGO HE WAS DESCRIBING HIS ROLE IS NO LONGER BEING AT TWITTER AND HE WAS STILL ELON MUSK'S PERSONAL LAWYER BUT HIS BUSINESS WITH TWITTER HAD TAKEN A BACKSEAT IN THE COMPANY WAS DEALING WITH ITSELF THIS MAY BE AN INSTANCE AND WE SEEN THIS IN THE PAST, WHERE IS INCENSED PERSONALLY AND WANTS TO GO AFTER THIS. UNTIL WE SEE EXACTLY WHAT HE
THINKS THE CASES, IT'S HARD TO ADDRESS WHAT THE MERITS ARE. ED: LET'S GET BACK TO THE TECHNOLOGY IN THE PLATFORM. YOU POINT OUT IN THE BLOOMBERG OPINION COLUMN THAT THE ONBOARDING IS A BIG PART OF THIS.
YOU CAN JUST SIMPLY TAKE YOUR INSTAGRAM FOLLOWING, CONVERTED TO THREADS AND I WENT BACK AND LOOKED AT THE TWITTER AND IT TOOK THEM A YEAR TO GET FROM 30 MILLION USERS TO 70 MILLION BETWEEN MARCH OF 2010 AND MARCH OF 2011. META HAS DONE IT IN 48 HOURS. >> IT'S CLEARLY A HUGE COMPETITIVE ADVANTAGE TO HAVE INSTAGRAM IN YOUR BACK POCKET TO LAUNCH THIS NEW SOCIAL NETWORK. THE COMPARISONS I'VE SEEN RECENTLY IS META HAS ONLY MANAGED TO GET 200,000 PEOPLE INTO THE METAVERSE. THIS HAS ALREADY BEEN VASTLY
MORE SUCCESSFUL THAN THEIR BIG STRATEGY. BEING ABLE TO BRING THIS OVER IS A GREAT BENEFIT. SOMETHING I'VE HEARD PEOPLE TALK ABOUT IS WHAT DOES THAT SAY ABOUT THE NATURE OF WHAT THREADS WILL BE? TWITTER WAS A VERY DIVERSE GROUPING OF PEOPLE ON THE INTERNET WHERE IS INSTAGRAM WAS POPULAR WITH INFLUENCERS AND CREATORS IN SOME OF THE CELEBRITY FACTORS. WHILE META THREADS MAY BE A TWITTER KILLER SO TO SPEAK, IT MAY NOT EVENTUALLY BE A TWITTER REPLACEMENT.
IT COULD BE A SHIFT OF PEOPLE GOING FROM ONE PLATFORM TO THE OTHER. WHEN YOU LOOK AT SOME OF THESE NEW ALTERNATIVES LIKE BLUE SKY AND T2 AND SPILL, THEY MIGHT BE FEELING QUITE DOWNHEARTED BY THE FACT THAT META HAS DONE THIS. IN TIME, I THINK THERE WILL BE ROOM FOR THESE SMALLER APPS. CAROLINE: YOU MENTIONED THE COMPETITION AND THESE ARE DECENTRALIZED. WHAT'S BEEN INTERESTING IS THE TALK OF A THREADS BEING BUILT ON THESE OVERALL PROTOCOLS WHERE YOU COULD TAKE YOUR FOLLOWERS WITH YOU AND SHARE THEM AMONGST ALL THE SOCIAL MEDIA PLATFORMS.
WHEN DO YOU THINK THAT MIGHT HAPPEN? IT GOT TEASED AND IT DIDN'T GO LIVE. >> IT'S CERTAINLY SOMETHING THEY'VE COMMITTED TO. I WOULD LIKE TO SAY IT WILL BE QUITE SOON AND THAT'S ONE THING THAT COULD CONVINCE ME THAT META IS SERIOUS ABOUT BEING SERIOUS ABOUT THE INTERNET. CAROLINE: ALSO FOR AN ADVANCE? >> IT DEPENDS ON THE VALUE THREADS. IF IT'S A WAY TO BRING PEOPLE INTO THE FACEBOOK FAMILY, WITH THE VIEW OF HAVING MORE ENGAGEMENT ON INSTAGRAM OR THE FACEBOOK BLUE APP, THE MAIN APP WARS AND -- WHERE THINGS DON'T HAPPEN, IT COULD BE USEFUL BUT THEY CAN LOSE THE ABILITY TO OWN THIS ENTIRE COMMUNITY AND PUT THEIR ADS IN THERE AND MONETIZE IT IS MUCH AS POSSIBLE.
THAT'S WHERE THINK THE MOST DIFFICULT THING FOR THREADS WILL BE COME ALMOST FIGHTING AGAINST THE INSTINCTS OF META THE COMPANY. THEY WANT TO HAVE CONTROL AND EVENTUALLY MONETIZE IT. IF YOU GO BY HISTORY, MONETIZE IT SOON. YET, THAT MIGHT NOT HAPPEN.
THE DEGREE TO WHICH WILL BE OPEN WITH THE REST OF THE FETAVERSE, THAT WILL BE AN INTERESTING EXPERIMENT WHETHER META WILL BE COMFORTABLE WITH THAT. THAT WILL BE THE BIG TEST. ED: WHAT DID JACK DORSEY SAY? WE WANTED FLYING CARS AND INSTEAD WE GOT SEVEN TWITTER CLONES. CHECK OUT DAVE'S LATEST OPINION COLUMN ON BLOOMBERG.COM. THE SHOW CONTINUES, COMING UP, THE JUNE JOBS REPORT SHOULD RELATIVELY STRONG GAINS IN LABOR MARKET WE WILL TALK TO THE CHIEF PEOPLE OFFICER OVER AT LAPIS ABOUT THE TRENDS SHE IS SEEING IN THE TECHNOLOGY SECTOR. THIS IS BLOOMBERG TECHNOLOGY.
CAROLINE: SOME PRETTY MIXED MACRO SIGNALS TODAY FOR THE U.S. LABOR MARKET. JOBS GROWTH IS THINNING OUT A LITTLE BIT BUT THE WAGES ARE INCREASING AT A FASTER EXPECTED PACE THAN LAST MONTH. THE U.S. ADDED 200-9000 JOBS IN JUNE, MAKING IT THE SMALLEST EVENTS SINCE THE END OF 2020 BUT THE WAGE GAINS SHOWED INFLATIONARY PRESSURE IN THE LABOR MARKET.
THE UNEMPLOYMENT RATE CAME IN AT 3.6% AND WE'RE LUCKY TO DISCUSS ALL OF THIS WITH CARA BRENNAN, CHIEF PEOPLE OFFICER, IS IT GLASS HALF EMPTY OR HALF FULL? >> I'M PROBABLY SOMEWHERE IN THE MIDDLE. AMONG OUR 5000 CUSTOMERS, THERE IS A LOT OF DISCUSSION ABOUT WITH THE SECOND HALF OF THIS YEAR LOOKS LIKE IN PREPARATION FOR NEXT YEAR. I THINK THE MEDIUM-TERM, PEOPLE ARE OPTIMISTIC FROM SITTING IN MY SEAT. WE ARE SEEING GREAT TALENT IN THE MARKET AND WE ARE SEEING SOME SOFTENING IN SOME OF OUR BUSINESSES AS IT RELATES TO SOFTWARE SALES AND OTHERS. IT'S THE SOFTENING OF THE
REALLY TOUGH TIMES THAT WE'VE BEEN THROUGH OVER THE PAST 6-12 MONTHS. WE ARE SEEING THE GLIMMERS BUT I CAN TELL YOU THAT RIGHT NOW, WE ARE STILL IN A PLACE WHERE WE ARE ALL VERY CONSERVATIVE, HEADCOUNT IS REALLY BEING THOUGHTFUL IN TERMS OF WHO WE WILL HIRE AND WE ARE KEEPING A CLOSE EYE ON THE COMPENSATION DATA BECAUSE WHAT WE SEE IS THE BROADER TRENDS. ED: IN THE TECHNOLOGY SECTOR, HOW COMPETITIVE IS IT BY USING COMPENSATION AS A PROXY? >> ERIC DATA LAGS BEHIND THE REAL MARKET. WE KNOW IT DOES BY ABOUT SIX MONTHS. WE ARE STILL SEEING DATA THAT WAS FROM THE END OF LAST YEAR THAT STILL VERY HIGH. THE HOPE IS THAT WE WILL SEE
SOME OF THOSE RATES COME DOWN ULTIMATELY. THAT WAY WE CAN HAVE BETTER BALANCE IN TERMS OF OUR SALARIES AS EVERYONE KNOWS IS AROUND 70% OF OUR TOTAL SPEND AS BUSINESSES. WE ARE STARTING TO SEE THAT. WE ARE STARTING TO SEE THAT IN THOSE REALLY SPIKY ROLES. OUR TOP ENGINEERING ROLES, SOME OF OUR ROLES ON THE SALES SIDE. WE ARE SEEING SOME OF THAT COME DOWN. IT'S NOT ACROSS THE BOARD. CAROLINE: ENGINEERS WILL BE PRETTY MUCH IN DEMAND. DO YOU FEEL THE BRACING WE HAD
IN THE TECH SECTOR MORE JOB LOSSES AND 20% CUTS, IS THAT A THING OF THE PAST? ARE PEOPLE RIGHT SIZED TO A DEGREE? >> IN GENERAL, YES. THAT'S WHAT I'M HEARING FROM OUR CUSTOMERS, THE FOLKS THAT ARE NOW FOCUSED ON THE PEOPLE THEY HAVEN'T SEEN, KNOWING THEIR GROWTH IS SLOWED FOR THE SECOND HALF OF THIS YEAR. PEOPLE FEEL THEIR HANDS ARE ON THE WHEEL AND THEY'RE ABLE TO LOOK FORWARD TO THE NEXT SIX MONTH WITH A PLAN THAT'S REALISTIC.
IT'S DIFFERENT THAN THIS TIME LAST YEAR WITH -- WHEN NOBODY KNEW WHAT WAS HAPPENING WE WERE TRYING TO MANAGE. CAROLINE: WELL SAID, WHEN WE LOOK AT THE BROAD LABOR DATA, IT'S HARD TO DISCERN WHAT IS HAPPENING AT A TECH LEVEL AND INDEED HAVE BROUGHT THE TECH ISSUES ARE IDIOSYNCRATIC TO THAT SECTOR. >> ED: I THINK CAROLINE RAISED A GOOD POINT. WHAT I HEAR FROM FOUNDERS, PUBLIC COMPANY EXECUTIVES AND EVER AND IN BETWEEN DOESN'T MATCH THE DATA.
THINK ABOUT THE CHALLENGE OF CHRISTMAS WHERE THERE IS EMPHASIS ON THE AND ALL THE LAYOFFS THAT WERE ANNOUNCED. THOSE WERE ANNOUNCED UNNECESSARILY AND NOT ENACTED. THERE ARE LOADS OF COMPANIES THAT ARE SCRAMBLING TO FIND PEOPLE AND ARE DESPERATE TO HIRE. WISE THEIR INCONSISTENCY THERE? >> WE HAD APERIOD TIME DURING THE PANDEMIC WHERE WE WERE JUST HIRING TO HIRE AND WHAT WE’'VE DONE IS GO BACK TO THE FOUNDATION OF GOOD BUSINESSES AND KNOWING WE HAVE TO BUILD FOR THE FUTURE MAY HAVE TO HAVE THE RIGHT SEATS. WHAT HAS TO HAPPEN IN THE HR SIDE IS THERE HAS BEEN LOTS OF LEAD UPS AND WEBINARS AND DISCUSSION ABOUT DESIGN AND HOW TO MAKE SURE YOU'RE OPTIMIZING FOR PERFORMANCE AND PRODUCTIVITY FOR THE PEOPLE IN THE SEAT.
WE KNOW THAT BECAUSE THAT'S WHAT LATTICE DOES. WE SEEN THE USAGE OF OUR TOOL INCREASE MONTH OVER MONTH AND YEAR-OVER-YEAR FROM OUR CUSTOMERS. PEOPLE WANT TO DO A BETTER JOB OF MANAGING THEM TIME THEY HAVE.
IT'S NOT A MONEY SPREE ANYMORE. ED: YOU KNOW THIS SECTOR AND YOU KNOW SILICON VALLEY. ELON MUSK AND HIS LAWYER HAVE THREATENED TO SUE META, CLAIMING TRADE SECRETS AND THROUGH THE EMPLOYMENT OF TWITTER EMPLOYEES, CAN YOU ENFORCE THAT SITUATION? >> I CANNOT SPEAK TO ELON MUSK AND THE META PARTICULAR SITUATION. WHAT I CAN TELL YOU IS IN MY EXPERIENCE, WE ARE CLEAR AND SILICON VALLEY THAT'S A STATE OF CALIFORNIA DOES NOT ALLOW NONCOMPETE'S TO BE ENFORCED FOR THE MOST PART, IT DEPENDS ON THE SPECIFIC SITUATION. I HAVE SEEN LOTS OF CEOS AND LOTS OF NASTY LETTERS IN THE COURSE OF MY CAREER. I KNOW THAT SITTING IN THIS
SEAT, YOU MOVE ON AND YOU BRING YOUR TALENT IN AND YOU ARE NOT AS CONCERNED ABOUT NONCOMPETE AS YOU MIGHT BE IN OTHER STATES. ED: ALWAYS ON THE HEARTBEAT OF THE TECH CENTER, THANK YOU SO MUCH. THE SHOW CONTINUES AND COMING UP, CHINA IMPOSING MORE THAN A BILLION DOLLARS IN FINES ON TECH GIANTS AND WE WILL GET THE DETAILS NEXT. THIS IS BLOOMBERG. ED: TIME FOR TALKING TECH. SAMSUNG REPORTED A $46 BILLION IN SALES IS WORSE IN REVENUE SINCE 2000 AND ITS OPERATING PROFIT PLUNGED 96% BUT IS STILL AHEAD IN MARKET EXPECTATIONS.
THE DEMAND FOR ELECTRONICS AND MEMORY CHIPS HAS SLOWED. U.S. OFFICIALS HAVE STARTED A NEW ROUND OF INSPECTIONS FOR NEW YORK LISTED CHINESE COMPANIES. THE INSPECTION COMES AS A TRADE WERE AN TECHNOLOGY FROM AI TO CHIP MANUFACTURING CONTINUES TO MOUNT TENSIONS BETWEEN THE WORLD TO LARGEST ECONOMIES. PLUS, CHINA IMPOSED MORE THAN ONE BILLION DOLLARS IN FINES ON TECH GIANTS AND TENCENT SIGNALING A CRACKED THE SECTOR THAT WORKED OUT BILLIONS OF MARKET VALUE AND DERAILED THE BIGGEST IPO. CAROLINE: LET'S DIG INTO THAT.
ISABEL LEE IS WITH US TO BREAK DOWN WHY THE SHARES HAVE POPPED FOR THE LIKES OF ALIBABA AND TENCENT. IT'S A HEFTY FINE BUZZ -- BUT IS IT OVER? >> IT SOUNDS KIND OF COUNTERINTUITIVE. MANY ANALYSTS ARE SAYING MAYBE THIS WILL PUT A LIT ON THE MULTIYEAR CRACK IN THE TECH SECTOR THAT CAUSED SOME OF THE BIGGEST FIRMS TO SAY CHINA IS ON INVESTABLE. THERE IS SOME SPECULATION THAT MAYBE THIS CAN PAVE THE WAY FOR ANOTHER RENEWED -- RENEWED ATTEMPT TO HAVE AN IPO POSSIBLY.
MANY PEOPLE, EVEN THE NASDAQ GOLDEN GIANT -- GOLDEN DRAGON INDEX IS UP 10%. ED: WHAT IS MOVING ON LOOK LIKE THEN? WHAT MIGHT BE SPUN OFF? >> WE KNOW CHINA HAS BEEN REALLY CRACKING DOWN ON TECH FIRMS AND THIS MAY LOOK LIKE THE END OF IT. THE ALIBABA CEO JACK CAME BACK IN MARCH. THERE IS A RENEWED APPETITE TO REINVIGORATE THE TECH SECTOR.
THAT'S WHAT MANY PEOPLE SEE BUT AN IPO DOES NOT LOOK AT LIKE IT WILL HAPPEN ANYTIME SOON. THEIR QUARTER WAS DOWN 56%. IF YOU WANT TO LIST IN THE CHINESE ASIAN MARKET, YOU SHOULD NOT HAVE HAD A CHANGE IN CORPORATE LEADERSHIP IN THE LAST TWO YEARS. AT LEAST THE HOPES ARE THERE AND THAT'S PROBABLY WHAT'S BUOYING THE MARKET. CAROLINE: WHAT HAS SHIFTED IN CHINA? WHY HAVE WE COME TO THE END OF THIS? >> PEOPLE ARE SAYING IT'S BECAUSE WHEN CENA LOCKED DOWN DURING THE PANDEMIC, IT REALLY WASN'T GOOD FOR THE ECONOMY. WHEN THEY WERE GOING TO REOPEN, EVEN STRATEGIST ON WALL STREET BUT THERE WOULD BE A BOOM IN GLOBAL GROWTH WOULD HAPPEN ON THAT BUT IT DIDN'T QUITE HAPPEN. THEY ARE TRYING TO REVIVE THEIR SECTOR AND TECH IS THE BIGGEST SO WHY NOT TRY TO DO THAT? IF IT WILL BE GOOD FOR CHINA, IT WILL ALSO BE GOOD FOR THE WORLD BUT ALSO IN THE U.S.. IT'S THAT SHIFT IN MENTALITY
AND WHO WANTS TO BE CALLED ON INVESTABLE? ED: THANK YOU, THAT WAS THE TOP STORY ON BLOOMBERG TODAY. ANOTHER TOP STORY WILL KEEP TALKING ABOUT IS THE BATTLE BETWEEN META AND TWITTER. WE WILL SPEAK WITH STEPHEN WOLF, CHIEF BUSINESS OFFICER AT THREE CAUSED STUDIOS NEXT. THIS IS BLOOMBERG TECHNOLOGY. ♪ ED: WELCOME BACK TO "BLOOMBERG TECHNOLOGY".
ED LUDLOW IN SAN FRANCISCO. CAROLINE: AND CAROLINE HYDE IN NEW YORK. WE HAVE BEEN WHIPSAWED BY THE DATA. LOWER-THAN-EXPECTED BUT THE
WAGE INFLATION A LITTLE ANXIETY FOR TRADERS. THE NASDAQ 100 AND TAX CONTINUE TO OUTPERFORM -- AND TECH CONTINUED OUTPERFORM. THERE IS THE THREAT WE HAVE THAT FINAL RATE HIKE. BIG TECH COULD BE HURT BY THAT. THE TWO-YEAR YIELD STILL COMING DOWN EVEN THOUGH WE SAW WAGE INFLATION BETTER. WE ARE LOOKING AT BITCOIN UP
0.1%. WE HAVE MANAGED TO TRADE THROUGHOUT THE DAY ABOVE $33,000. LET'S HAVE A LOOK AT THE INDIVIDUAL MOVERS. NVIDIA UP 2%.
IVAN SAYING THIS IS THE WAY TO PLAY GENERATIVE AI. NVIDIA GETTING THE BID ON THE BACK. ALIBABA SOARING UP MORE THAN 8%. THAT BECAUSE WE WERE TALKING WITH ISABELLE LEE OF THE IDEA OF RELIEF, THAT OVERHANG, THAT FINE COMING FOR THEM. WHAT DOES THAT MEAN FOR ALIBABA?
META JUST FLAT ON THE DAY BUT IT HAD A PRETTY STRONG WEEK AFTER THE NEW FAVORITE PLATFORM FOR EVERYONE TO GET TO KNOW EACH OTHER, THREADS. ED: FLAT ON FRIDAY. UP ALMOST 4%. LET'S TALK MORE ON THREADS STEVEN WOLFE PEREIRA, 3PAS CHIEF BUSINESS OFFICER. YOU ARE AN ENTERTAINMENT COMPANY. YOU ARE CLOSE TO THREADS AND HOW IT CAME ABOUT.
DID WHAT YOU SAW ON LAUNCH MATCH WHAT META TOLD YOU IT WAS GOING TO BE? STEVEN: ABSOLUTELY. IT HAS BEEN EXCEEDING EVERYONE'S EXPECTATIONS. FOR THE ONBOARDING TO BE LESS THAN FOUR SECONDS -- BECAUSE IF YOU HAVE INSTAGRAM, YOU JUST IMPORT THE DATA AND YOU ARE ABLE TO BRING THAT OVER.
IT HAS BEEN WILDLY SUCCESSFUL BEYOND EXPECTATIONS. I READ THE STAT TODAY IT WAS OVER 50 MILLION SUBSCRIBERS ALREADY. WE HAVE 3 BILLION USERS ACROSS ALL META'S APPS. 3 BILLION PEOPLE BEING ABLE TO SOLVE THE PROBLEM OF FINDING HOW TO BRING YOUR FOLLOWERS ONTO A NEW PLATFORM. I THINK THEY DID WELL. CAROLINE:
YOU ARE SOMEONE WHO TELLS STORIES. HOW ARE BRANDS TELLING STORIES? HOW DIFFERENT ARE WE SEEING THINGS EVOLVE? STEVEN: GOOD POINT. TO SEE THE BRANDS REALLY UNDERSTAND THIS IS A DIFFERENT MEDIUM AND IT IS NOT IMAGES. IT IS TEXT. BEING VERY WITTY AND UNDERSTANDING HOW DO YOU HAVE YOUR BRAND VOICE COME THROUGH? RIGHT NOW IT IS FUN, IT IS POSITIVE.
YOU DO NOT HAVE THE TROLLS AND THE CESSPOOL OF OTHER PLATFORMS. THE FACT YOU HAVE BRANDS LIKE AMERICAN EAGLE, WENDY'S, FOLLOW SOME OF THEIR THREADS. IT IS FUNNY. I THINK THAT IS KIND OF THIS GONE BY EIRE OF SOCIAL -- BY ERA OF SOCIAL WHERE PEOPLE OPENED THE APP TO SEE WHAT BRANDS WERE SAYING. ED: JUST AN UPDATE FOR YOU AND THE
AUDIENCE. WHEN YOU WERE RACING OVER TO THE L.A. STUDIO, MARK ZUCKERBERG UPDATED AND IT IS 17 MILLION ON THREADS. STEVEN: I THINK HE SAID SOMETHING IN THE THREAD HE WAS NOT TALKING ABOUT MONETIZATION UNTIL THEY HIT ONE BILLION SUBSCRIBERS.
THIS IS ONE OF THE FASTEST APP LAUNCHES IN HISTORY. VERY EXCITING TO SEE THIS TRAJECTORY. BUT LET'S SEE THAT THRESHOLD AND SEE WHAT HAPPENS. CAROLINE: THAT BILLION WAS ON THE CLEAR PATH.
WHAT DO YOU THINK ABOUT THE MONETIZATION OPTIONS AND HOW THEY DO THAT WHILE PRETENDING, EVENTUALLY, TO BE WITHIN THE METAVERSE? IS IT THE ADVERTISING REMAINS IN THE APP AND IF IT IS MOVING ACROSS DIFFERENT USE CASES, YOU WOULD NOT BE ADVERTISED AGAINST? WHAT WERE THE DISCUSSIONS LIKE? STEVEN: I GOT BACK FROM THE INTERNATIONAL FESTIVAL OF CREATIVITY. META'S NEW GLOBAL VP OF THE GLOBAL BUSINESS GROUP IS OVERSEEING WHAT BRANDS ARE GOING TO BE DOING ON THEIR PLATFORM ACROSS ALL THE DIFFERENT APPS. BUT THE REALITY IS THIS WAS SOMETHING THAT WAS ON EVERYONE'S LIPS TO UNDERSTAND HOW WE ARE GOING TO INTEGRATE AND WHEN CAN WE ACTUALLY BUY ADS ACROSS THE ENGAGEMENT AND USERS? I THINK ALL OF THAT IS GOING TO BE A WAIT AND SEE. THEY WANT TO REBUILD THE ENGAGEMENT, BUILD THE AUDIENCE. WHEN YOU THINK ABOUT
CELEBRITIES -- I WORK WITH ONE OF THE BIGGEST LATINO ACTORS IN THE WORLD. HE IS A COMEDIAN. HE IS EXCITED TO GET ONTO THREADS TO ENGAGE HIS AUDIENCE IN LOTS OF DIFFERENT LANGUAGES. WHEN YOU SEE BRANDS TRYING TO FIGURE OUT WHEN CAN WE ENGAGE THERE IS WAIT AND SEE FROM META. THEY WANT TO MAKE SURE IT IS A
SAFE PLACE. THEY WANT POSITIVITY AND FUN. ED: HOW DO YOU THINK ABOUT TWITTER AND WHAT WAS THE TALK ABOUT TWITTER? IS THIS EAT TWITTER'S LUNCH? STEVEN: IT IS AT AN INFLECTION POINT. A LOT OF PEOPLE ARE DUNKING ON TWITTER. LINDA WILL HAVE HER WORK CUT OUT FOR HER BUT TWITTER WAS NOT REPRESENTED THE WAY THEY USED TO BE. THERE USED TO BE A BIG TWITTER BEAT THAT WAS NOT THERE. THEY ARE FOCUSED ON A BIG VISION AND PLAN AROUND X.
DO NOT COUNT THEM OUT. THEY ARE TRYING TO DO SOMETHING DIFFERENT. THEY WANT TO TAKE IT A DIFFERENT DIRECTION. ELON IS THINKING ABOUT TAKING IT INTO THE SUPER APP OF X. LINDA IS REALLY SMART AND IN
ACTIVE DIALOGUE WITH SO MANY BRANDS. WHEN YOU SEE WHAT FOLKS ARE DOING, WHETHER IT IS SEAWORLD OR MORGAN CHASE, ALL OF THESE DIFFERENT COMPANIES TRYING TO FIGURE OUT WHERE AM I GOING TO ENGAGE? ? HOW DO I GET MY MESSAGE OUT? THESE ARE THE DIFFERENT WAYS BRANDS WILL LOOK TO ENGAGE. ED: YOU KNOW LINDA. YOU HAVE HISTORY. WILL YOU PUT MONEY TO PLAY IN THE TWITTER PLATFORM? STEVEN: RIGHT NOW, 3PAS WILL. WE HAVE SOME FILMS LAUNCHING
THIS FALL. ONE WILL BE AT SUNDANCE CALLED "RADICAL" COMING OUT IN OCTOBER. WE WANT TO BE WHERE THE AUDIENCE IS. TWITTER IS VERY ACTIVE. THERE IS CONCERNS AROUND PRIVACY OR THE RHETORIC BUT THERE IS STILL AN ACTIVE AUDIENCE. WHEN YOU SEE ONE OF THE LARGEST SOCIAL FOOTPRINT, 80 MILLION FOLLOWERS ACROSS ALL SOCIALS, TWITTER IS SOMETHING WE ARE INVOLVED WITH. BUT WE ARE ALSO LOOKING AT
DIFFERENT PLATFORMS. ED: STEPHEN WOLFE CARRERA, THANK YOU FOR JOINING US -- STEVEN WOLFE PEREIRA, THANK YOU FOR JOINING US. APPLE'S SLOW ROLLOUT, NEXT. THIS IS "BLOOMBERG TECHNOLOGY". CAROLINE: TIME FOR VC ROUND UP. THE MOST VALUABLE INDIAN UPSTART IS IN TURMOIL AFTER MISSING A DEADLINE. AND NOW THE CRISIS IS SETTING ALARM BELLS THROUGHOUT THE VC WORLD.
IT HAS PROMPTED BLOOM VENTURES TO CUT BACK ON FRIVOLOUS INVESTMENTS. IT HAS PUSHED PORTFOLIO COMPANIES TO SHIFT FOCUS TO PROFITABILITY. MEANWHILE, WHEN OLD IS NEW, ALBERT EINSTEIN DIED IN 1955, BUT IS STILL A CONVERSATIONALIST. THERE IS A CHATBOT, ONE OF THE STRANGEST STARTUPS, VALUED AT $1 BILLION.
EINSTEIN HAS RESPONDED TO 1.6 BILLION MESSAGES FROM THEORIES OF RELATIVITY TO PET RECOMMENDATIONS. ED: THAT IS THE BEST STORY WE HAVE DONE ON "BLOOMBERG TECHNOLOGY" EVER. CAROLINE: THAT IS A BIG STATEMENT. [LAUGHTER] ED: EINSTEIN IS BACK, BABY.
APPLE'S HEADSET IS COMING SOON-ISH TO A STORE NEAR YOU. THEY'RE PLANNING A LAUNCH OF THE PRO HEADSET BUT ONLY IN SELECT U.S. MARKETS NEXT YEAR BEFORE EXPANDING. MARK GURMAN BROKE THOSE DETAILS
OVERNIGHT. THERE IS A CLEAR STRATEGY HERE, ACCORDING TO YOUR REPORTING. MARK: I WONDER WHAT ALBERT EINSTEIN WOULD THINK ABOUT VIRTUAL REALITY AND THE VISION PRO. IN TERMS OF THE STORY, WHAT WE
ARE HEARING IS THERE IS A SLOW GO RAMP UP TO THE APPLEVISION PRELAUNCH. $3500 DEVICE THAT REQUIRES AN IMMENSE AMOUNT OF CUSTOMIZATION. THE LOGISTICS, THE WAY THEY ARE GOING TO LAUNCH ONLINE AND IN STORES IS A CUMBERSOME PROCESS. EARLY NEXT YEAR, EARLY 2024 IN THE U.S., ORDER THE DEVICE
ONLINE OR IN STORE. IF YOU ARE BUYING IT IN THE STORE, IF YOU ARE IN ONE OF THE MAJOR MARKETS, L.A., NEW YORK, SAN FRANCISCO, TEXAS, IN THOSE BIGGER STORES YOU WILL HAVE A NEW VIRTUAL REALITY VISION PRO EXPERIENCE AREA WHERE YOU CAN BUY THE DEVICE, EXPERIENCE THE DEVICE, HAVE A CUSTOMIZED, GET TRAINING. IF YOU ARE IN THE SMALLER MARKET, YOU ARE ABLE TO BUY IT IN A SMALL CORNER AT A TABLE. OVER TIME THEY WILL RAMP UP THAT EXPERIENCE CENTER BUT YOU WILL BE ABLE TO GET THE VISION PRO IN ANY U.S. RETAIL STORE FROM THE GET-GO. WHERE THINGS GET COMPLICATED IS
IF YOU HAVE A VISION PRESCRIPTION. YOU WILL HAVE TO UPLOAD YOUR PRESCRIPTION TO A WEBSITE EITHER THROUGH APPLE OR ZIESS -- BECAUSE THEY DO NOT WANT YOU HANDING THAT TO AN EMPLOYEE -- AND THAT WILL BE AT THE TIME OF PURCHASE ONLINE OR, ANOTHER IMPORTANT FACTOR, IT WILL BE SOLD BY APPOINTMENT ONLY. WHEN YOU MAKE THE APPOINTMENT YOU CAN UPLOAD THE INFORMATION. CAROLINE: THIS SLOW ROLLOUT, HOW MUCH OF THAT IS ABOUT MARKET EDUCATION AND TRYING TO NAVIGATE DEMAND? HOW MUCH IS THE SUPPLY SIDE? MARK: I THINK IT IS A COMBINATION OF ALL THREE, BUT I WOULD LEAN MOSTLY TOWARDS SUPPLY. THEY DO NOT HAVE ENOUGH SUPPLY TO DO A GLOBAL LAUNCH. THEY THINK THEY WILL HAVE ENOUGH SUPPLY BY THE TAIL END OF 2024 INTO 2025. WHAT THEY ARE GOING TO DO IS
THEY ARE GOING TO LAUNCH IN ASIA IN EARLY 2025. THEY WILL BE LAUNCHING IN CANADA AND THE U.K. OVER TIME THEY WILL EXPAND TO FRANCE AND GERMANY. THEY ARE GOING TO GET TO ABOUT 10 MAJOR REGIONS BY THE END OF 2025. IN 2025, THEY ARE LOOKING TO EXPAND TO RESELLERS AS WELL. CAROLINE:
INTERESTING THE LOGISTICS. MARK GURMAN WITH ALL THE NEWS. THANK YOU. LET'S TALK ABOUT WHAT IS GOING VIRAL. THE "BARBIE" MOVIE.
THE BARBIE DOLL HAS BEEN AN ICON AND EMBARRASSMENT. NOW WITH THE NEW FILM MATTEL IS TRYING TO PROVE IT IS NOT OUT OF DATE. DID THAT PAN OUT? THOMAS BUCKLEY JOINS US FOR MORE. THERE IS THE TAKE WRITTEN TODAY ABOUT HOW THE BIRTH OF THIS OCCURS AND GOES BACK TO MATTEL REALIZING THEY ARE AN IP COMPANY AS MUCH AS A TOY COMPANY. THOMAS: THAT'S RIGHT. I HAVE TO SAY I WAS WATCHING MARK GURMAN AND I AM JEALOUS. [LAUGHTER]
IT LOOKS ABSOLUTELY BEAUTIFUL. THE CEO OF MATTEL CAME IN IN 2018. HIS BACKGROUND WAS IN ENTERTAINMENT. I THINK WHEN HE TOOK HOLD OF MATTEL HE SAID, WE HAVE THIS PHENOMENAL BRAND OF BARBIE, HOT WHEELS, AND IT WOULD BE SUITED FOR THE SCREEN. BARBIE HAS HAD ITS TIME ON SCREEN WHETHER IT IS VIDEO GAMES OR TV, BUT THIS IS THE FIRST TIME IT HAS HAD A THEATRICAL RELEASE. ED: PRODUCER JOHN HYLAND MAKES A GOOD POINT.
THE HYPE AROUND THIS HAS BEEN ASTONISHING. IT HAS BEEN EVERYWHERE -- SOCIAL MEDIA, THE STREAMING PLATFORMS, ICY ADS -- I SEE ADS. BUT SOME SAY THIS IS A BIG RISK FOR THE COMPANY. EXPLAIN THAT TO ME. THOMAS: THAT'S RIGHT. BARBIE LAUNCHED IN 1959 AND WAS POPULAR FOR SEVERAL DECADES. SHE WAS MODELED ON THE GERMAN MODEL.
THE MARKETING OF THE DOLL, AT ITS EARLY STAGES, BLUE-EYED, BLONDE HAIRED, APPEALED TO PEOPLE THAT WERE NOT THAT WIDE-RANGING. BARBIE'S BRAND SUFFERED BECAUSE IT WAS PERCEIVED AS ELITIST THE LAST COUPLE OF DECADES. I THINK WHAT THIS FILM IS GOING TO DO IS UNDO A LOT OF THOSE PRECONCEIVED NOTIONS THAT BARBIE IS ONLY SUITABLE FOR A SET DEMOGRAPHIC. THAT REALLY FOLLOWS THE TREND
THAT MAKING THE DOLL MORE ACCESSIBLE AND THE NUMBER OF BARBIES BEING PRODUCED IN CURRENT TIMES THAT HAVE, FOR EXAMPLE, ALOPECIA OR DOWN SYNDROME OR DIFFERENT SKIN TONES TO BUILD THE BRAND INTO SOMETHING MORE ACCESSIBLE. CAROLINE: I GO BACK TO THAT AMAZING OUTFIT BY JAY-Z AND BEYONCE WHEN THEY CAME AS BARBIE DOLLS TO HIGHLIGHT THE POINT. TO THAT END, IF THIS DOES DO WELL -- AND THERE ARE LIMITATIONS. THEY HAVE RUFFLED FEATHERS, TO PUT IT MILDLY, IN VIETNAM, BUT DO THEY MANAGE TO MAKE THIS A SEQUEL IF THEY DO WELL? THOMAS: THERE IS ONGOING CONSIDERATIONS THAT A SEQUEL IS BEING PUT INTO DEVELOPMENT. IT DEPENDS ON HOW WELL THE FILM DOES. ED POINTED OUT THE HYPE IS REALLY UNMATCHED IN RECENT
TIMES IN HOLLYWOOD. THE ONLY THING I CAN THINK OF IS MAYBE THE " AVATAR" SEQUEL. NOTHING HAS COME CLOSE. WE ARE OBSERVING THE TRAPPING FOR THIS FILM OF HOW IT WILL PERFORM OPENING WEEKEND AND THE TRACKING JUMPED 54% IN THE LAST WEEK ALONE. IT IS SET TO OPEN AROUND $110 MILLION. IF IT CAN GROSS $500 MILLION, WHICH IS NOT IMPOSSIBLE, I AM FAIRLY CERTAIN THAT A SEQUEL WOULD BE PUT INTO PRODUCTION. ED:
BLOOMBERG'S THOMAS BUCKLEY WITH THE BARBIE LATEST. COMING UP, WE DISCUSSED HOW AI TECHNOLOGY IS BEING IMPLEMENTED IN THE LUXURY SPACE WHEN IT COMES TO THE $27 BILLION MARKET. ED: TIME FOR ANOTHER STORY. A NEW STUDY FROM WATCH FINDER SHOWED AS MANY AS 10% OF THE WATCHES RECEIVED FROM SELLERS LAST YEAR WERE DETERMINED TO BE FAKES DURING AN AUTHENTICATION PROCESS. HALF OF THOSE WERE ROLEXS. IT IS GOING TO BE WORSE FOR THE $27 BILLION SECONDARY MARKET AS FAKES BECOME MORE SOPHISTICATED AND HARDER TO SPOT. THE QUESTION FOR YOU IS HOW DOES TECHNOLOGY FIX THAT? CAROLINE: WHEN THERE IS A WILL, THERE'S A WAY. LET'S BRINGING SOMEONE WHO KNOWS THE LUXURY SPACE.
ENTRUPY AUTHENTICATION USES ARTIFICIAL INTELLIGENCE AND MICROSCOPIC Y. HOW DOES AI HELP IN THESE SCENARIOS? WHAT ARE YOU DOING? ARE YOU ABLE TO TELL US? VIDYUTH: THANK YOU FOR HAVING ME. WHAT WE DO IS WE USE IMAGES. WE HELP THEM UNDERSTAND THE MY NEW SHOW -- MY MINUTIA. AND THEN WHEN OUR CUSTOMERS NEEDS ON-DEMAND AUTHENTICATION, THEY HAVE THE ITEM IN FRONT OF THEM AND THEY NEED TO KNOW IT IS REAL OR NOT, PROVIDE THEM THE ABILITY TO TAKE IMAGES, SHIP IT OUT, AND AI SAYS YES OR NO. IF IT IS YES, WE GIVE THEM A CERTIFICATE. IT IS LIKE INSURANCE. ED: WHERE DOES THE TECHNOLOGY COME FROM? HAVE YOU DEVELOPED THIS YOURSELF OR ARE YOU BRINGING IN THE SOFTWARE COMPONENT FROM A THIRD PARTY? VIDYUTH: EVERYTHING IS BUILT IN-HOUSE, INCLUDING THE MICROSCOPY. IT IS ALL PROCESSED IN HOUSE.
WHICH MAKES IT UNIQUE AND ALSO VALUABLE. WHEN WE STARTED THIS THERE WAS NO ONE DOING IT. AT BLOOMINGDALE'S WOULD YOU EXPECT TO SEE SOMEONE WALKING AROUND WITH A DEVICE LIKE THAT? 10% TO 12% ARE COUNTERFEIT. CAROLINE: I AM LOOKING AT A HANDBAG AND I CAN UNDERSTAND HOW YOUR TECHNOLOGY WOULD WORK FOR THAT. WE WERE TALKING ABOUT WATCHES. YOU HAVE GOT TO TAKE THE THING APART TO TAKE THE PHOTOS. WHERE ARE THE LIMITATIONS AND
THE SCALABILITY? VIDYUTH: SCALABILITY IS AVAILABLE IN ALMOST ANY CATEGORY WHERE THERE ARE COUNTERFEITS. THE BEAUTY OF AI IS THIS LEARNING AND IMPROVING CONSTANTLY. TYPICALLY WHEN YOU DO THAT LONG ENOUGH AND AT LARGE SCALE ENOUGH, YOU ARE DISINCENTIVIZE AND COUNTERFEITERS OF MAKING BETTER QUALITY FAKES. AT SOME POINT THE MARGIN IS AT THE CEILING. YOU ARE ALWAYS HALF A STEP AHEAD.
THAT IS WERE SCALABILITY AND THE AIP'S IS USEFUL -- AND THE AI PIECE IS USEFUL. THERE IS FORM AND FUNCTION. FORM IS A HANDBAG OR SHOE OR ACCESSORY. FUNCTION WOULD MEAN DOES IT WORK WELL? FOR A WATCH YOU NEED TO DO BOTH. AI IS EXCELLENT AT FORM. MIGHT NOT BE THE MOST IDEAL SOLUTION AT FUNCTION BUT THERE ARE OTHER WAYS. HOW CAN YOU PUT BOTH TOGETHER
IN A SEAMLESS WAY? THAT IS WHAT WE ARE WORKING ON? CAROLINE: YOU NAILED THE WATCH MARKET. THANK YOU. VIDYUTH S SRINIVASEN. IT HAS BEEN A QUICK WEEK AND A SHORT ONE. ED: DOMINATED BY THREADS. REAL FOCUS ON SOCIAL MEDIA AND
SO MUCH GOING ON IN CHINA. A LOT WITH THE HARDWARE SIDE. YOU CAN RECAP IT. YOU CAN FIND THE PODCAST ONLINE AND WHEREVER YOU CHOOSE TO GET YOUR PODCASTS. SHORT WEEK, BIG WEEK IN THE
WORLD OF TECHNOLOGY. FROM NEW YORK AND SAN FRANCISCO, THIS IS "BLOOMBERG TECHNOLOGY".
2023-07-08 13:31
