'Bloomberg Technology' Full Show (06/23/2023)

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 [Music] I'm at Ludlow in San Francisco Caroline Hyde off today this is Bloomberg technology coming up on the program a warning from the EU to Twitter Crackdown on disinformation or face the consequences we bring you our interview with the Block's internal Market commissioner Thierry Britton plus Tech Executives descend on the White House our takeaways from Narendra modi's steak dinner as the CEOs of Apple Google Microsoft and openai dying with the president and India's prime minister and San Francisco's driverless future I'll take you behind the scenes of my experience using autonomous vehicles there's Robo taxis it's becoming a reality for thousands in this city first let's get a check on the markets I want to get straight to the technology sector in equities the NASDAQ 100 down this Friday we're actually down on track for our biggest weekly drop since March that week in March where the banking crisis was unfolding there's a story playing out here you look at the performance of the NASDAQ 100 year to date it's about a 40 gain near that echoing what we saw in 1999 right before that bubble we've got strategists by Bank of America writing that investors actually have started to flee technology stocks they cite data from epfr global data two billion dollars of outflows in the fire trading days through June 21st so there could be a shift here when you extrapolate when you zoom out and take a look at the NASDAQ 100 in a moment most names on a single name basis in the red on that index some breaking news at the top of this hour Bitcoin has hit its highest level in one year there has been a lot of momentum but a sharp gain sees us above 31 100 US dollars per token go back to June 15th and that surprise BlackRock filing uh for a Bitcoin spot exchange ETF that's what a lot of the story has been about and it's a remarkable turnaround for what we have seen in this particular digital asset or digital token but crypto more broadly given there a number of structural and Industry issues very quickly some names that we're watching we're going to bring you the details of that meeting between those technology CEOs President Biden and Narendra Modi prime minister of India to the downside we see apple a little softer alphabet off by a percentage Point tests are actually interesting down almost two percentage points seeing a pretty marked decline I think it's on track for its biggest weekly drop in around six weeks and Nikola interesting news down 7.6 the company tweeting about a fire at their facility in Phoenix and saying that they suspect Foul Play Bloomberg is investigating that story from public markets to a name in the private space and Technology Twitter needs to put more resources towards addressing sensitive content ahead of Elections if it wants to comply with strict new European regulations ahead of a deadline in August we discussed the matter with Thierry breto the eu's internal Market commissioner have a listen he made very clear that he will he will comply with our regulation and that he believes that DSA is a good regulation and this is what he wants to do so again I proposed to all of them in clean Twitter to um to a stress test in the headquarters to make sure that they will understand what they have to do to be ready he accepted he's the first one by the way to um to accept that which is a of course a good sign and my team spent two days so and reviewed many many programs they want to put in place I think it's going in the right direction and of course I don't have to comment but there's some work to be done but the programs are well identified of course you're mentioning the code of conduct gonna connect something different color conduct is a voluntary haircut this is the difference between a law and a voluntary code I know that when you don't have the time to make a law you propose a voluntary code but a voluntary code by definition is voluntary it's not binding and and for this specificity in the digital space it is important now to have binding rules it's difficult because of course you need as politician to convince everyone to convince your house your Senate it's complex but that's the only way to do and what was your impression of Linda yakarina the new CEO of Twitter I think he was a very engaged of course I understand that it's our first month as a hair entry in Trader as a CEO but she was really hands on and she was attending the meeting and she um gave me the feeling that she's definitely willing to uh to do everything everything takes to um to comply with the rules that was the European commission internal Market commissioner thiela Breton for more we're joined by Bloomberg Sarah fryer the editor that conducted that interview and Sarah let's start with a stress test you and I have been covering Twitter the ins and outs for years what is a stress test though what is a stress test of a social media platform like Twitter told me that he said he spent the last couple days in his and his team as well looking through and seeing what actually does Twitter have built into its systems to comply with the rules that will go into effect in August on disinformation on harmful content and Twitter does not currently do that by the way and and that doesn't matter to patrol he says I I don't need I asked him do you actually trust that you know given how they've been so permissive of certain kinds of content sense must take over do you actually trust that he's going to to follow through with this um they have declined to comply with the voluntary disinformation code as he was talking about and he says you know what I don't have to trust I I just need them to be ready to follow the law when it goes into effect that's all that matters so basically his message is if they don't comply with this law they don't get access to the EU market and he thinks that that will be a big enough incentive not just for Twitter but for meta for the other social media companies that will be affected to to follow through on on what he's what he is coming here to San Francisco to say is going to be important uh Sarah my understanding is the commission has been pretty busy while he's been out here in the Bay Area taking other meetings with other technology names excuse meeting today with Sam Altman of openai he's meeting Mark Zuckerberg of Neta and um Jensen Wang of Nvidia so you know bertolins not just talking about this Digital Services act he's talking about the um the AI regulation that he wants to put into effect now that's not a law yet but um that's going to require uh companies to think about how they're building their AI he wants to encourage them to not build it in directions that he thinks would be bad for society such as social monitoring um you know grading People based on their social media habits or facial recognition there are some forms of AI that um that he thinks will be harmful and so if he can put those regulations into place early enough um then maybe when the companies decide where they want to invest going forward they won't invest in those areas um and they will put you know and this this race to build AI products they will put their their money into things that are a little bit better surface Society Bloomberg's big Tech editor Sarah fry thank you it's not the EU just visiting these Shores we also have visitors from other nations India prime minister Narendra Modi is wrapping up his time in the U.S with a state dinner at the White House where Tech leaders from Apple to Google to Microsoft descended on the president's home for more let's bring in Bloomberg's Nick Wadhams out in Washington DC it's interesting the Biden Administration pulling two things together Narendra modi's visit and Technology executives well what it's pretty fascinating because what you're seeing in real time essentially is the entire Tech sector saying oops uh we need to protect ourselves uh given the geopolitical uh Strife that's happening with China and hey India looks like a really appealing alternative uh still pretty tentative steps right now but you know in all sorts of areas AI semiconductors defense there are just all sorts of Partnerships and Deals where they're essentially looking to fulfill what they and the administration say as a push toward friends Shoring so instead of offshoring sending all their production to China cutting down some of their vulnerabilities and going to a country that looks a little more friendly to the U.S it's interesting you had the dinner last night our understanding is that there'll be more meetings this morning with that group of Technology CEOs some of them have an interest right Sam Altman has been to India the CEO of open AI there's been a big emphasis on what apple is doing both in that market but also in its Supply chains it makes you think about the relationship between the US and India strategically Nick which is your domain right how does the US view India as a technology partner a supply chain partner a geopolitical partner in the context of Asia well it's it's really uh confusing and uh in some ways the ground is really shifting because uh for a while the U.S has wanted to approach India as much more of a strategic partner partly as a counterbalance to China uh but on the other hand in a lot of ways India has not necessarily been willing to play ball so they're not willing to just say hey we're going to form some big strategic alliance with the United States we have other interests for example they have not condemned Russia's invasion of Ukraine they've taken a much more ambivalent stance they see themselves in some way as sort of a representative of of what Narendra Modi called yesterday in his speech to Congress the global South so they are not necessarily interested in just being this uh you know shoulder to shoulder partner with the United States but they do want uh to bring in U.S money U.S business Advance their own economy so they are eager to play that role and then you see these tech companies essentially coming in and saying okay well look this is a a partner where we could it could be a lot safer for us than China given all of the uh the the problems uh that that China has imposed on U.S companies also the intellectual property theft a whole other range of issues that's making them reconsider their connections to China doing those networks are in DC fascinating that we have the EU here in the Bay Area then DC we have all the tech Executives from the bay area in DC and President Biden really interacting with that sector thank you for your time interesting one coming up we have actress Halle Berry and pendulum co-founder and CEO Colleen cutliff talking with me about gut health from our Bloomberg technology Summit which I was out all day long yesterday you don't want to miss this one this is Bloomberg [Music] [Music] [Applause] thank you pendulum Therapeutics is a biotech company specializing in metabolic Health through its microbiome targeted products Academy award-winning actress Hallie Berry joined the company as an equity investor and chief Communications officer also a director earlier this year after prioritizing her own metabolic Health with pendulum's products I caught up with both her and pendulum co-founder and CEO Dr Colleen cutliff at the Bloomberg technology Summit yesterday foreign conversation I said to her how did you get into this and she basically is saying well I had some problems I used a product it worked I became an investor now I'm all in she described it to me as her second act she's still acting but now this is the first step into her becoming an investor a director of a company and maybe something more she promises she'll come back AI also very much at the center of the discussions we were having at the Bloomberg technology Summit here's what some of the speakers weighing in on the future of AI had to say from everything cyber security related to calling for Democrat democratization of the technology this technology the benefits the access to it the governance of it belongs to humanity as a whole this genitive AI opportunity is huge we don't know yet all of the different applications that are going to come up we're seeing that just just within the past six months is a revolution the number of companies common with use cases we'll also also coming more and more to the 4 front both to help folks stay productive and from a security perspective if we do our job right I think it should buttress our existing leadership position in the cloud it can detect a fair amount of stuff but there's a lot of subtle stuff that humans detect that AI doesn't and so I think we have to ask ourselves are we happy with the road we're going down because we're about to accelerate that road and if we want to maybe make some course correction now is the time to do it and this is why I think discussion shouldn't just be about AI but should be about what kind of world do we want to live in what do we want to do with this technology you know what let's get some more of the conversation and go back to that conversation with Halle Berry and Colleen cutliff of pendulum have a listen what was it like launching and growing a business at first and including raising money from a big name Venture Capital firm you know in in other even in uh the the kind of intersection of medicine and Foods you know there is issues of Regulation non-regulation they are often born out of Academia uh I'm just fascinated by the the origin story of this company well I think as with any big initiative when you started you don't necessarily know what you're taking on and so it's mostly ignorance and naivete that got us here I think it's you know we knew that the gut microbiome was a new frontier in science our First Investors were not in ABC's it was the Mayo Clinic because they agreed there's something really interesting about the gut and how we can tackle diseases around it and that was it it was a very simple premise the gut microbiome was an entirely new organ that has never been targeted before that can help people with a myriad of diseases and from there it just we stepped forward and I think when you have a vision like that about looking at kind of shelves of probiotics and saying we're not even in there we're really a Technology based company using DNA sequencing and metabolic maps and you know this high-end manufacturing that nobody else in the world is doing to create these products um we we ended up attracting the kind of investors that like to see world changing and category creating products and we attract the kind of talent that wants to get involved in something that they've seen that's different than anything else they've experienced and so we've been very fortunate in that it seemed from a science standpoint there was an obvious opportunity and all along the way we've just been surrounded by amazing people who see that Vision too being part of your role is you know thinking about future investors but also growing the brand it's a consumer product right so scale it for me tell me how you take the message out there but then get it in in more lanes for sale in more consumers stomachs well I think it all starts with you know communication talking about it getting them to get interested in the brand getting them to go try it to see for themselves so Colleen and I always talk about don't just take it because I say what I would love people to do is go try it because I ask them to and then they decide for themselves and I think that's how you start to scale it because it really does work you know it's not it's not one of these products that just has a pretty package as a matter of fact it didn't have such a pretty package when I came along I said you need to put this product in a pretty package because what I find is things that often sometimes scale sometimes it's marketing you know they have a pretty bottle and it's marketed the right way and as consumers we're often drawn to that so now knowing that she's got this like world-class product here I said to her now it has to look like that too because that is very much a part of how we buy as consumers what's the future IPO raise more money sell to a bigger stage of the company's life cycle I mean I from the day we started the company to today to what I hope is going to be true into the infinite future the company has been centered and grounded in how do we help people and so right now we're helping tens of thousands of people and so when I think about the future is how do we get to hundreds of thousands of people to millions of people and that's what it's all about and I think if you create a product that people love and it's bringing benefit to the world all of that other Financial stuff will just fall into place foreign [Applause] fastly holding its annual investor day with the company projecting up to 900 million dollars in 2026 revenue for more we're joined by fastly CEO Todd 19 girl who joined the company last September we're going to go into some of what you discussed but there's only one question how does fastly use artificial intelligence to improve its products ah that is a great question and obviously super top of mind for everyone um of course just like every other company especially tech companies we use artificial intelligence to improve our offering specifically in traffic engineering which is really near and dear to how we deliver Best in Class performance that's core to our value proposition but I think what's what's really interesting for fastly especially is the opportunity to bring our customers AI workloads into the edge we partner closely with centralized Cloud providers where those models are trained but trained but running an inference model at the edge has the power to deliver Best in Class sort of Next Generation you know AI user experience and user experience is what we focus on it fastly so we're kind of super excited about this new focus on AI Todd The Edge Cloud Market you know we discussed this on the program all the time Microsoft Google AWS it's going to be hard like how much of that market are they going to allow you to have you know AWS gcp Azure these are core Cloud technology providers is providers that operate these massive core Cloud Technologies and every every one of our customers uses a central cloud provider we don't compete against those uh those folks and largely that's great we believe deeply and our customers believe deeply in a multi-cloud architecture where they do they use those resources in the core and they Leverage The Edge Cloud for super low latency experiences to drive content where the user experience the speed the performance is important that's why fastly is focused on Fast safe and engaging end user experiences you know the market loved this this number you're putting out for 2026. it's a long way away I want you I want to hear about what you're doing right now you know what's driving growth for you right now in this quarter next quarter yeah we're really pivoting fastly hard right now towards aggressive customer acquisition towards driving growth across our business and really Financial rigor not just Top Line growth but improving our bottom line as well but really what's driving the change in so many ways is a refocus a refocus on delivering the best user experience with platform unification so their customers have a simpler experience end to end and they can really partner with fastly not just on one product line like content delivery but across our portfolio that makes our sales teams land and expand motion so much easier as they expand from content delivery to security to compute to observability it's also amazing you know we've we've just launched a new partner program where our systems integrators part systems integrator Partners can take to Market not just content not just security but our whole portfolio that's driving amazing deal registration which is filling the top of our Pipeline and I think really setting us up to change the growth and the acceleration of the company Todd your core business is content delivery Network or CDN to all the ctOS that check into our to our show it's such a mature market so how do you navigate a mature Market you know I think Innovation is the key we are innovators at fastly and CDN the the kind of Legacy CDN technology that that is not what what's happening at faster right now and that's not what customers come to fastly for we're delivering not just static content but the most real-time delivery the most dynamic the most engaging content in the world it's why compute is such an important part of our business as well and it's really always been embedded within content delivery it's also why people who are streaming real-time events have Dynamic content they want engaging application experiences those are the customers that come to FAFSA and I believe over time just about every organization in the world is going to fit in that category good to catch up out of New York thank you for your time now coming up later in the program startup lunar energy launching an all-in-one home Energy System and it's tap Sunrun to help with those solar installations both CEOs coming up next here in San Francisco this is bloombo technology [Music] foreign [Applause] welcome back to Bloomberg technology I'm Ed Ludlow here in San Francisco gonna get a quick check on the markets the story of Friday Tech lower look at the NASDAQ 100 off by seven tenths of a percent as an index it's on track for its biggest decline on a weekly basis since March when we had the banking crisis but a lot of writing about how investors are pulling out of the technology sector look at the run-up in that index year to date and the worries about what we saw in parallel with 1999 that's the narrative semiconductors also underperforming down 1.8 on the Sox's yields come a little low we're moving into bonds right 3.74 on the U.S 10 year as we reported at the top of the show and this is breaking news Bitcoin now trading it its highest level in one year almost 31 000 US dollars per token a lot of that related to momentum in the ETF space and what BlackRock did in the June 15 filing terms of the single name movers there is some news flow element to what's happening but I'm taking a a look at Tesla down 1.43 on the day it's on track for its biggest weekly drop I think in six weeks a lot of emphasis has been pulling back on on the the momentum in in the AI context because that name was caught up in the rally and also that it's coming off some some significant highs less focused though on its energy business and that's what I want to talk about a little bit when Tesla's former head of energy founded startup lunar energy he set out to bring sustainability and convenience to the average U.S household now the company is launching its first product an all-in-one home Energy System and it's tap Sunrun to help with the solar panel installations joining us for more details on how this system works is lunar energy Co canal jarotra and Mary Powell the CEO of Sunrun two for one both CEOs at the same time let me ask you this to start Canal why did you need Sunrun to make this happen uh first of all thank you for having me on the show Ed it's a great opportunity you know sunrun's the largest solar installer in the country and uh you know renewable energies On The Rise and uh the future solar doesn't shine at night so you need batteries to help with the transition from solar energy to battery energy for me it's also a technology question right so let's reflect on Tesla Tesla's doing everything energy storage solar was there a temptation to go down that route yourself yeah so there are 75 million homes in the country Ed and only 4 million have solar and quarter million of those have home batteries if you want to decarbonize homes which consume which which emit 20 of greenhouse gas emissions we need every home in the country to have solar and battery and these products are not there today where they're plug and play and there should be like consumer products so lunar energy has Design Systems from the ground up to make every home Go Solar and battery in a very easy and seamless manner such that you know consumers want affordable clean energy energy builds are rising power outages are rising with severe weather around the country so consumers are spoken they want simple affordable clean energy and lunar's first system and all-in-one integrated solar battery load control system allows every homeowner in California and California and the rest of the country to Avail this service and we're excited to partner with Sunrun who's going to be our first installation partner to install and bring these products to the masses in in this in the country Mary welcome to the program CEO of Sunrun from your perspective how does it help you you know it's going to customers and saying well we'll give you the solar but have you checked out the energy storage solution as well oh my goodness well first of all we are so excited excited about this opportunity to be partnering with lunar we we are a strategic partner of Luna we were one of the original investors in lunar because we see massive opportunity around storage in the United States of America Sunrun is not just the leading Solar Company we are actually the leading company in America that provides solar Plus Storage you know that can really help support not just our customers all around the country but frankly the grid one of the reasons I am so excited about what canal and his amazing team at lunar have done is that they have really created that next level storage device that can also really integrate in a sophisticated way with the grid and help us make a more affordable reliable grid for all of America the frustration that some Americans have and and this plays out in in jurisdictions all over the world is that you install solar and often there's help to do it subsidy and in you know places like California where the sun does shine it's great but often the the the the electricity goes back to the grid and you're compensated with a credit it's not a self-contained system Mary and so I wonder how quickly you see us moving to to genuine households that can run uh independently from an electricity perspective well the cool thing is we're actually there and I mean this kind of Technology just accelerates that capability um but you know at the end of the day one of the things that we're most excited about isn't about providing opportunities for customers to fully defect from the grid which is sort of what your question implies you know what it is way more powerful and what Canola and I were able to prove so many years ago in Vermont is that we can create a more affordable resilient grid for all of Americans by leveraging the assets on so many roofs around America by harnessing that solar energy storing it and then dispatching it when the grid needs it the most I mean look at what's happening in Texas real time right now and imagine a future as we dramatically accelerate where all of those homes in Texas can be helping to support the grid and make it more affordable and reliable for all so you know one of canal and I go way back innovating in this space and you know he's just been you know just put together an amazing team that is going to really help accelerate this customer-led revolution to a way more affordable resilient way to power homes and the American grid yeah and just just to add to that you know imagine a future where you have a million homes with home batteries you know each battery is about 10 kilowatts you suddenly have 10 gigawatts of power available for the Grid at any given point of time when the grid needs it what does that mean for the grid the grid doesn't need to build dirty fossil fuel based speaker plans to provide Peak energy which is when you know energy crisis is the most so think of solar and home batteries we're we're gunning for the future where every home in America has solar and battery and is part of a distributed and decentralized grid and the technology is there we need to get the product simple and easy and then as fast as possible in consumers homes and you'll see that we can it's a win-win for the planet it's a win-win for the consumers and it's win-win for the electric grid Tesla is the market opportunity big enough such that a lunar Sunrun partnership can grow a business alongside Tesla offering essentially the same thing uh I think so again I said there are 75 million homes just in the US and only 4 million have solar and quarter million have batteries and Tesla is a great company lunar is going to be great and I think we need a lot more companies innovating the reason we started lunar Ed is because you know three years back I was looking around the space there were so many companies providing the next best electric car and very few companies focused on the home and and that's why the opportunity was so great I think sunrun's a fantastic partner to start our relationship with and we'll be enrolling a lot of other partners as we expand in the coming years all right well thanks the CEO of lunar energy canal girotra and the CEO some run out of New York Mary pal thank you for your time thank you Ed all right so coming up which companies were really saved after the FDIC stepped in to backstop Silicon Valley Banks deposits a new document tells us more about the top 10 customer balances at that failed lender plus our conversation about generative ai's impact on Healthcare with Vijay Pandey General partner at Andreessen Horowitz I've got to go back to bitcoin so we've been talking all throughout Bloomberg technology we are at the highest level in around a year on bitcoin just below 31 000 US dollars for token as Bloomberg's writing about on the terminal on.com part of this story is a recovery from the scandals in that industry some of it is more short-term momentum go back to June 15th and blackrock's filing on on a Bitcoin related ETF that seems to be adding some momentum as well but a pretty sharp jump this morning we're at 30 890 US dollars per token this is Bloomberg [Music] thank you [Music] [Applause] a document from the FDIC which the agency said it mistakenly released unredacted in response to a Bloomberg News Freedom of Information Act request provides one of the most detailed glimpses yet into the bank's biggest customers and it turns out the decision to guarantee all accounts above the 250 000 Federal Deposit Insurance limit also helped bigger companies that were in no real danger like Sequoia Capital let's bring in Bloomberg's Hannah Miller to go over this what did the document we obtained from the FDIC actually tell us yes so it listed out who the top depositors were with Silicon Valley Bank and it's a reminder that it wasn't just fledgling startups that got helped out here it was big companies that really didn't actually need that kind of Aid so the top of the list was Circle um they had 3.3 billion dollars of their reserves for their usdc stable coin with svb so they topped the list and you also like you mentioned had Sequoia with one billion dollars and they have 85 billion dollars in assets under management so that's just a small fraction of what they had at svb you know it's one of the most read stories on the Bloomberg terminal 1.com for obvious reasons even though it happened in the past we're learning so much about what happened but why does it matter what's contained within that yeah so this is a reminder that the tech industry is still feeling the effects of the collapse of Silicon Valley Bank that essential changes have been made here that it's not going to be the same they're not going to have those same comfortable banking relationships that they had prior to svb's collapse so I think this is you know even though this happened in March this shows the impact here it tells us that this is something that we need to be we need to keep tracking and that the tech industry isn't going to be the same moving forward you and I were at the Bloomberg technology Summit yesterday and you know this the svb story area in the year kind of put into question the health of Silicon Valley so to speak what did you make of the health of Silicon Valley that I had a lot of interesting conversations where people were saying like talent's here all the access to money is here this is great and others that were saying San Francisco's dead you know it was very difficult to discern the mood music yes I mean it was really refreshing to see people at the conference you know there were some great conversations um you know I think people were excited and happy to be there but I think there's still this tense undercurrent you know people are worried about the fate of San Francisco um there are people who are not back to work or they moved out of the city including the talent that powers the tech industry so I think there are still some questions ahead as to you know how SF is going to fare moving forward Bloomberg's Hannah Miller terrific reporting great to be out and about with you in San Francisco talking all things Tech now generative AI is the latest craze in the tech world but not necessarily in the healthcare industry Vijay Pandey General partner Andresen howitz is trying to change that he's been thinking about ai's potential impact in health and medicine for years we sat down with him earlier this week to discuss the intersection of artificial intelligence and health have a listen prior to joining Andrews and Horowitz I was a professor at Stanford in actually many departments in chemistry computer science instructional biology and Australia biophysics and the result of that actually was almost 400 paper or seven patents three books at this intersection so what we're seeing today is something that in some ways I've been waiting for for decades the the cynic and the skeptic says you're jumping on the bandwagon now you yourself have been looking at this area for a while but give me some concrete examples in the theater of healthcare the area of healthcare where a large language model or a foundation model can can improve a process a product whatever it may be yeah to kick it off I think these large language models are very exciting and what they can do is they can act as an interface where you can finally talk to the computer in a way that you couldn't before but it's worth emphasizing that AI is much more broad than that AI is something where it can Impact Drug design where we can develop new drugs faster it can impact how we think about Healthcare how we allocate Health Care Resources these are things that go beyond the llms as as exciting as llms are I believe you you you phrase it as specialist AIS yes but is that going as far as to say an AI doctor or are we talking about an AI back office yeah I think you'd want both right and so the beauty of AI back office today is that you can solve problems that are not clinically relevant but are still very important and still huge Top Line and bottom line issues for companies but in time as AI gets smarter and becomes a specialist we can get to the more critical clinical areas where maybe it's not an AI doctor at first maybe it's someone who helps the Doctor Who scales the doctor instead of one doctor seeing eight patients a day maybe they could see 10 or 20 or 80. that scaling alone would be exciting and also it up levels the quality that perhaps we can all get the best doctors because now ai is helping everybody how does Vijay Pandey make money like what is the exit strategy in this world because you quickly encounter regulatory headwinds the need for approvals and if we think about in the context of of drugs medicines trials yes how does that little square is a venture capitalist well what's interesting for AI and life sciences and Healthcare is that we have this very robust regulatory infrastructure already there you know what you're going to get we know we're going to get and actually the amazing thing is that The Regulators are excited about AI when we talk to them they see that AI can do things for human health they want to see how they can change regulations to allow AI to be able to have its greatest impact so you're at Andreessen Horowitz and big thumb that's an understating it really but there are many partners who are interested in artificial intelligence how do you all work together and how do you stay in your lane thematically in this case bio and health yeah so we're broken into a series of funds and so I founded the life sciences and Healthcare fund and so for anything that's in the area of life science and Healthcare with AI that would fall to our team and what I'm excited about that combination is that that space has been so resistant to Tech first for decades and AI is making such a dramatic change that it could have some of its biggest impacts in that space that was Vijay punde General partner at indrison Horowitz I want to go back really quickly and correct something that I said earlier in the program I said that Tesla on a weekly basis had its biggest decline in six weeks it's down modestly on the week just a tenth of a percent at current levels but what I should have said is that it is down on a weekly basis for the first time in six weeks in other words it is snapped a five-week gain streak and there's still some other sessions to go so a little clarification on that one this is Bloomberg foreign [Music] [Applause] for talking Tech first up Tick tock's political troubles seemed far away in can at Executives swarmed the company's glitzy pop-up stage during a week-long industry Extravaganza in southern France and many said they actually planned to send more business to the platform and Deloitte the auditor of Indian tech firm by Jews quit that's according to a letter seen by Bloomberg and confirmed by officials this is the latest setback for the once high-flying startup that's had its offices search by anti-money laundering officials and is embroiled in a tussle with creditors over 1.2 billion loan plus an early morning fire that broke out at Nicola's Phoenix headquarters affecting several of its battery electric big rigs more than 50 firefighters were dispatched at the scene the company which suspects Foul Play said today in a tweet that no one was injured in the Blaze and that an investigation is underway after a vehicle was seen in the area of the trucks prior to the incident now San franciscans are finally getting used to seeing electric cars cruising along the streets with no one in the driver's seat of course I'd say for my myself this past week I've been making my way around using mostly rides from alphabets waymo and its ride hailing service here's how it went so seeing a driverless car in San Francisco with no one in the front seat is kind of becoming normal but what about riding in one this was my first time in a driverless waymo step one hail a ride via the waymo one app four minute wait time not bad you can track the car's progress it arrives and next unlock the doors with the app and get in don't forget seat belt the ride is started by touching a screen in the car or in the app hello from waymo look along the way it's pretty smooth remember cruise is also offering driverless rides in SF and Bloomberg's Emily Chang has done that this is actually my very first time without a human driver back to waymo at times the car plays it safe it travels below the speed limit and sometimes it takes unusually wide birth sometimes it signals randomly to change lanes or even tries to change lanes for no clear reason and a lot of Road users around you do get frustrated and honk at the waymo but pedestrians don't seem to even notice that no one's in the driver's seat or they just don't care so last minute I get to Ocean Beach and I decide it's too cold so we change plans go to the app let's go to Twin Peaks get dropped off but there's limitation waymo can't go all the way so it drops me near and the app tells me how to walk the extra part time to go back home wait times do vary depending on where you are right now there's no fee in SF but waymo shows us what the trip would have cost also doesn't ask for a tip the service runs 24 7 in SF where waymo has around 200 cars but the wait list for San Francisco more than 80 000 people you can read more about my story and what it's like to ride in an autonomous car on the Bloomberg terminal and of course on bloomberg.com let's get a final check in on bitcoin throughout Bloomberg technology this hour we've been talking about Bitcoin trading at its highest level in a year now back above 31 000 US dollars per token the longer term story that Bloomberg's writing about on this Friday morning is getting over some of the scandal in the industry that we've seen some kind of longer term momentum shorter term that June 15th regulatory filing from BlackRock seeking an ETF product in the Bitcoin domain a pretty sharp Spike though at one point in Friday's session no headline or Catalyst per se but we do see these kind of timed swings in the price of Bitcoin what a week that does it for this edition of Bloomberg technology don't forget you can recap everything from this show in our podcast wherever you get podcast we're on Apple or on Spotify we're on iHeart and our podcast of course are on bloombeck.com and the Bloomberg business app from San Francisco this is Bloomberg technology foreign

Channel: Bloomberg Technology

Views: 2,697

Keywords: Bitcoin, Caroline Hyde, Clean Energy, Cloud Computing, Ed Ludlow, Elon Musk, Fire, Halle Berry, Hannah Miller, Kunal Girotra, Lunar Energy, Mary Powell, Nikola, Pendulum, Sequoia Capital Operations LLC, Sunrun Inc, Thierry Breton, Todd Nightingale, Twitter Inc., cryptocurrency, fdic

Id: KrM1C-TYLJE

Length: 44min 15sec (2655 seconds)

Published: Fri Jun 23 2023