>> CAROLINE HYDE, WORLD
HEADQUARTERS IN NEW YORK. ED LUDLOW IS AT GOOGLE.
THIS IS BLOOMBERG TECHNOLOGY. COMING UP, FULL EARNING
COVERAGE AHEAD. WE HAVE AIRBNB OFF ITS WORST
DAY EVER AS A COMPANY, AND ANY REVIEW ON THE REPORT WITH
DETAILS THAT FOLLOW. WE WILL COVER THE WORLD OF
ELECTRIC VEHICLES FROM THE CONVERSATION WITH THE CEO OF
BLINGED CHARGING. WE'VE GOT YOU COVERED.
AND WE COVER THE LATEST IN ARTIFICIAL INTELLIGENCE.
THE CEO OF SCALE AI. WE GO LIVE TO GOOGLE.
ED LUDLOW IS ON THE GROUND, BUT LET'S CHECK IN WITH THE MARKETS
AS WE ASSESS A MOOD SHIFT. MONEY IS MOVING INTO TECH
STOCKS BECAUSE THE INFLATIONARY PRESSURE IS DIALING DOWN.
COMING IN BELOW THE 5% NUMBER, WE HAVE NASDAQ INTEREST RATE
SENSITIVE. TECH STOCKS ON THE UP.
TWO-YEAR YIELD ON THE DOWN AS WE EXPECTED.
MAYBE THEY WILL NOT HAVE TO HIKE SO HARD GOING FORWARD.
A PAUSE ON THE AGENDA. WE ARE OFF BY EIGHT BASIS
POINTS BE AT THE FRONT END OF THE CURVE FOR THE DOLLAR INDEX
ALSO DROPPING ON THE VIEW WE GET A MORE DOVISH TONE.
MOVING ON, LET'S HAVE A LOOK AT THE WORLD OF CRYPTO.
WE ARE SEEING DOLLARS LOWER, SO CRYPTO IS ON THE UPSIDE.
THAT IS FOR COIN AT 28,000 WHERE WE TRADE.
BUT IT IS INTERESTING THAT WE ARE SEEING SOME MOOD MUSIC.
JUST BEING ON THE DOWNSIDE, LET'S STICK WITH IT.
TWO OF THE WORLD'S TOP MARKET-MAKING FIRMS ARE PULLING
BACK FROM TRADING ASSETS. THAT IS THE LATEST ON THE
CRACKDOWN OF THE INDUSTRY. JANE STREET IS GOING FURTHER.
WE ARE SEEING REGULATORY UNCERTAINTY BECOMING --
UNCERTAIN. SO MUCH IN THE WORLD OF CRYPTO.
SO MUCH IN CRYPTO MORE BROADLY. AIRBNB SHARES ARE VOLATILE.
WORST DAY ON RECORD. THAT IS AFTER REPORTING A NEW
OUTLOOK. THIS GET THE INSIDE TRACK.
IT IS OUR DATA ANALYST. DO YOU THINK WHAT WE'VE HEARD FROM THE
COMPANY IN TERMS OF OUR GUIDANCE VINDICATES THE PLUNGE
IN A SHARE PRICE TODAY? >> LOOK. AIRBNB IS A STOCK THAT HAS A
PREMIUM VALUATION RELATIVE TO ITS FEARS, AND WITH A PREMIER
VALUATION, TYPICALLY YOU GET ELEVATED EXPECTATIONS,
PARTICULARLY AROUND QUARTERLY EARNINGS, BUT WE ARE NOT
SURPRISED TO SEE THE STOCK SELLOFF.
THE DEBATE AROUND THOSE SHARES IS WHETHER THE GUIDANCE WHICH
SHOWS INCREASE MARKETING INVESTING INCREASES SPENDING
WITH A TIME RELATED ISSUE OR A MARKETING RELATED ISSUE FOR THE
BEGINNING THE YEAR OR IF IT IS SOMETHING MORE STRUCTURAL.
NEAR TERM GOING DOWN, THAT IS WHY THE STOCK IS GOING DOWN,
BUT WE SEE A VALUE SHARE OVER A LONGER TERM TIME HORIZON. >> WHEN YOU LOOK AT ALL OF THE
ANALYSTS RECOMMENDATION DID YOU THINK IT WAS GOING TO GO HIGHER?
THE GENERAL PRICE TARGET IS ONLY 14 CELLS ON THE STOCK, AND
WITH YOUR PERSPECTIVE, IF YOU HAVE A BUY RATING OF EIGHT
HUNDRED $27 AND $840 PRICE TARGET, WHAT IS THE MACRO
ENVIRONMENT? WE ARE JUST HEARING ABOUT
INFLATION BOILING OVER, BUT IT LOOKS LIKE THE PRICES ARE
COMING DOWN. IS THAT GOOD OR BAD? >> I THINK ANY KIND OF PRESSURE
ON THE CONSUMER, AND HE KIND OF DISCRETIONARY SPENDING IS NOT
GOOD FOR TRAVEL SPENDING. OVERALL.
WHAT WE SEEN ON PRIOR DOWNTURNS IS THAT LEISURE TRAVEL IS QUITE
A RESILIENT CATEGORY. ESPECIALLY ON A GLOBAL BASIS.
EVEN WHEN TIMES ARE TOUGH, PEOPLE LIKE TO TAKE VACATIONS.
I THINK IN SOME WAYS, THE RECENT ANNOUNCEMENT OF AIRBNB
RULES -- ROOMS IS A WAY TO GET AHEAD OF THE AIRBNB ROOMS. FOR
EXAMPLE, DISRUPTING A LITTLE BIT WITH A SIGNIFICANTLY LOWER
PRICED OFFERING MAKES ROOMS IN PEOPLE'S HOMES OR APARTMENT.
LAST NIGHT, 80% OF THE INVENTORY WAS LESS THAN $100
NIGHT AREA WE THINK OVERNIGHT -- OVERALL, TRAVEL WILL BE
RESILIENT, AND BECAUSE OF THE VARIETY OF LISTINGS, IT WILL BE
MORE RESILIENT AND OTHER TRAVEL ASSETS. >> WHAT ABOUT THE MARKET SHARE.
THAT IS EKING OUT WITH BOOKING.COM.
SOME OF THE COMPETITORS. NOT TO MENTION THE OLD HOTEL
INDUSTRY AS WELL. >> I THINK MARKET SHARES ARE
LITTLE TRICKY BECAUSE OF THE COMPS. AIRBNB IS COMPING OVER THE LAST
FEW YEARS. HAS HAD EXPLOSIVE GROWTH.
THEY ARE THE ONLY GAME IN TOWN, AND THERE WERE HOTELS WHERE
THEY HAD TO MINGLE WITH OTHER FOLKS, AND AIRBNB IS RELATIVELY
TOUGHER NOW. THE TRADITIONAL OTA'S ARE A
LITTLE BIT EASIER, SO LOOKING AT THESE GROWTH RATES, THIS
QUARTER, NET QUARTER, THAT IS NOT THE ENTIRE STORY.
THE BOTTOM LINE IS A LOT OF THESE TRAVELS CAN BE TO GROW.
DISCUSSIONS ABOUT MARKETSHARE SHARE NEED TO BE LOOKED AT IN A
LONGER-TERM PERSPECTIVE. >> WELL SAID. GREAT TO HAVE YOU.
THANK YOU SO MUCH. AS WE SAY, BIGGEST DROP FOR
AIRBNB, BUT A 72 MARKET CAPITALIZATION.
LET'S TALK ABOUT THE MACROENVIRONMENT WHICH IS
CURRENTLY WHAT WERE WORKING IN. THAT SHOWS A BIT OF A COOLING.
CPI RAISING ON THE EURO IN YOUR BASIS.
BUT THAT IS THE INSIGHT OF HOW YOU AND I ARE SPENDING.
ARE WE LOOKING AT LUXURY. ARE WE HOLDING BACK RID I AM
PLEASED TO SAY SHE IS WITH US. AN ONLINE SHOPPING PLATFORM
WITH PARTNERS OF THOUSANDS OF STORES TO PROVIDE DATA
EXPERTISE AND TECHNOLOGY TO BUSINESSES AND CONSUMERS. RETAIL SITES.
THAT IS SOMETHING THAT I SEE AS PART OF A MASSIVE GROWTH STORY
IN RETAIL. RESALE OVERALL. NOT JUST ON RESALE PLATFORMS
BUT BY FRANCE. >> HOW DO YOU KEEP YOUR MARKET
SHARE IN THIS ENVIRONMENT? WE ARE TALKING ABOUT ARTIFICIAL
INTELLIGENCE THAT WE ARE TALKING ABOUT HOW WE INTERACT
WITH A CONSUMER MORE PRODUCTIVELY. HOW DO YOU LOOK AT WHAT YOU ARE
OFFERING WHEN WE ARE INTERFACED WITH THE E-COMMERCE PLATFORM? >> AT THE END OF THE DAY, OUR
JOB IS TO DRIVE GROWTH FOR PARTNERS, WE ARE DOING THAT IN
A NUMBER OF DIFFERENT WAYS IT FIRST, BY INCREASING THE NUMBER
OF PLAYERS THAT APPEAL TO OUR CONSUMERS. MORE LUXURY PLAYERS.
REALLY IMPORTANT TO US. THE SECOND IS A LEVEL OF
PERSONALIZATION THAT IS IMPORTANT.
WE GIVE CASH BACK TO SHOP AT OUR RETAILERS.
THAT CASHBACK HAS INCREASINGLY BECOME PERSONALIZED YOU
INCENTIVIZE YOU TO TRY STORES YOU'VE NEVER TRIES BEFORE.
TO MAKE A SECOND PURCHASE AT A RETAIL YOU NEVER EXPERIENCED
BEFORE. THAT LEVEL OF VALUE IS NOT JUST
VALUABLE TO OUR RETAILERS BUT ALSO TO OUR CONSUMERS. >> WHEN YOU SAY YOU KEEP A
LOYAL CUSTOMER IN MANY WAYS, YOU SAY THAT WHEN A RETAILER
LEAVES, OFTEN THE SHOCK REMAINS 75% OF THE TIME. WHAT IS YOUR DREAM NEW CUSTOMER
FROM A RETAILER PERSPECTIVE. WHO DO YOU WANT TO LURE TO THE
PLATFORM? >> THERE IS A YOUNGER CONSUMER
WERE GOING AFTER. A YOUNGER BUT LINEAL AUDIENCE.
WE ARE FINDING THAT IMPORTANT. A LOT OF WHAT WE DO IS BRING ON
A LOT OF DIRECT CONSUMER BRANDS THAT ARE MORE IMPORTANT TO THE
AUDIENCE AND THAT GENERATION. AND, TO THE POINT, EXPANDING
THE ENVIRONMENT OVERALL ON THE PLATFORM WE HAVE PLAYED HARD IN
LUXURY DEPARTMENT STORES WITH INDIVIDUAL BRANDS AS THE NEXT
THING TO TACKLE BECAUSE THAT DOES DRIVE A LOT OF VALUE FOR
THE YOUNGER MILLENNIAL IN GENERAL. >> SOMEONE WHO ALWAYS BRINGS
EXPERIENCE TO THE ROLE, HAVING BEEN AS A GENERAL MANAGER SINCE
2018, BUT PLENTY OF OTHER PLACES BEFORE THAT, SO WE THANK
YOU SO MUCH FOR SPENDING SOME TIME WITH US. NOW, FROM LUXURY SPENDING TO
WHAT IS GOING ON IN MOUNTAIN VIEW CALIFORNIA.
ED, YOU ARE COVERING GOOGLE. A DEVELOPERS CONFERENCE ALL DAY.
WHAT IS THE KEY THEME? >> ARTIFICIAL INTELLIGENCE IS
AT THE HEART OF EVERYTHING. THOUSANDS OF PEOPLE WITH
230,000 WILL WHY. REMEMBER WHEN GOOGLE INTRODUCED
THAT IN FEBRUARY? IT WAS OLD AS A CREATIVE
COMPANION. NOT A REPLACEMENT FOR THE CORE
SEARCH PRODUCT. THAT IS THE QUESTION.
WHAT WE FIND OUT ABOUT HOW YOU INTEGRATE THE LARGE LANGUAGE
MODEL INTO A NEXT GENERATION SEARCH ENGINE?
WHAT DOES THAT FUNCTIONALITY LOOK LIKE?
WHAT ARE THE OTHER SOFTWARE OFFERINGS?
THAT IS BEFORE WE GET TO HARDWARE. >> WE WILL ADDRESS THAT A
LITTLE LATER WITH YOU. BRILLIANT TO HAVE YOU ON THE
GROUND. YOU'RE GOING TO BE BACK WITH US
LATER IN THE HOUR, BUT ALSO THROUGHOUT THE DAY.
WE THANK YOU SO MUCH. FROM YOUR, ON VIEW CALIFORNIA,
THIS IS BLOOMBERG. >> WE ARE TALKING ABOUT THIS
WITH TOM LAYTON. IT'S GREAT TO HAVE SOME TIME
WITH YOU. STRONG AND CHALLENGING MACRO
HEADWINDS IN A PRESSURE. WHAT DO YOU MAKE OF THIS
ENVIRONMENT WHICH YOU ARE MANAGING TO WHETHER BETTER THAN
ANTICIPATED? >> THIS IS A CHALLENGING
ENVIRONMENT. CUSTOMERS ARE CUTTING BACK.
BUT THERE ARE WAYS TO MITIGATE THAT. FOLKS ARE CONCERNED ABOUT SECURITY AND RELIABILITY,
ESPECIALLY IN THE FINANCIAL SECTOR.
THE LAST THING A BANK WANTS IS TO HAVE AN OUTAGE.
WITH A CONCERN THAT THEY WILL THINK SOMETHING IS WRONG AND
YOU WILL GET A RUN AND THAT'S A CHALLENGE. THE BEST PROVIDER IS RELIABILITY AND SECURITY, SO WE
HAVE THAT AS HELPFUL FOR US. AS COMPANIES NEED TO CUT COSTS,
WE HAVE TO HELP THEM WITH OUR SOLUTIONS. THAT IS NOW INTEGRATED INTO OUR
DELIVERY PLATFORM, AND WE ARE THE BIGGEST WHEN IT COMES TO
DELIVERY AND HAVE A VERY ECONOMIC ALL PLATFORM FOR DOING
THAT, SO WE COULD HELP CUSTOMERS REDUCE COST AND
ACCESS TO CLOUD COMPUTING AND DELIVERING. >> WHAT ABOUT YOUR BUILD?
TV SAYS IT IS MORE CAUTIOUS ON YOUR STOCK GIVEN THAT THE
CAPITAL EXPENDITURE IS NEEDED TO BUILD OUT TO COMPUTE.
HOW ARE YOU MANAGING THOSE COSTS? >> WE ARE INVESTING THIS YEAR
TO JUMPSTART THE BASE PLATFORM. THAT WILL LARGELY BE DONE BY
THE END OF Q3. THINK GOING FORWARD, THE BUILD
OUT EXPENSE IS PROPORTIONAL TO THE REVENUE.
IF WE GET A LOT OF REVENUE GROWTH, WHICH WE HOPE FOR,
THERE WILL BE MORE CAPITAL EXPENSE, AND IF IT IS A MORE
MODERN -- MODEST GROWTH, THERE WILL NOT BE MUCH TO WORRY ABOUT.
THAT IS DONE WITH BY THE END OF Q3. WE GET OUR FIRST DATA CENTER
AND 14 MORE OVER THE NEXT COUPLE OF QUARTERS. >> YOU SOUND OPTIMISTIC ABOUT
CLIENT SPENDING ON THIS ENVIRONMENT, PARTICULARLY IN
SECURITY. PUSHBACK FOR ANALYSTS WHO ARE
SAYING THAT YOUR LOW DOUBLE DIGIT GUIDANCE IN TERMS OF
SECURITY GROWTH ACTUALLY IS SOMEWHAT IMPLAUSIBLE BECAUSE OF
THIS MACROENVIRONMENT AND THE SHOP -- SHOCK ACCELERATION.
WHY DO YOU THINK THIS IS PLAUSIBLE, EVEN THOUGH YOU HAVE
SOME WORRYING? >> WE HAVE MARKET-LEADING
SOLUTIONS FOR THE FIREWALL. YOU HAVE TO HAVE THAT SOLUTION
FOR BOT MANAGEMENT. THE SOLUTION FOR RANSOMWARE AND
DEFENDING AGAINST THAT. YOU EVEN THINK ABOUT THE OLDER
ATTACKS AND YOU THINK OF THEM IS OLD NEWS LIKE DENIAL OF
SERVICE. JUST IN THE LAST FEW MONTHS,
YOU HAVE THE KILL THAT DEED OUTS ATTACKS AGAINST THE
NATIONS LEADING MEDICAL CENTERS. SO, SECURITY IS VERY MUCH
NEEDED, AND WHEN YOU ARE THE MARKET LEADER OF THESE
SOLUTIONS, I AM VARIES -- OPTIMISTIC ABOUT THAT.
NOW, WE ARE ADDING API SECURITY. THAT IS VERY MUCH IN THE NEWS
WITH ALL OF THE API ATTACKS TAKING WAYS RECENTLY AT >>
EXACTLY. LET'S TALK API AND AI AS WELL.
MORE BROADLY. YOU ARE A MAN WITH CONTENT
DELIVERY AND INTERNET ARTICLES. WE YOU ARE THINKING OF THE WAY
YOU ARE INCREASING THOSE ATTACKS. THIS ANYWAY YOU COULD HARNESS
THAT OR YOU ARE WORRYING ABOUT THAT? >> WE USE AI ON A LOT OF
PRODUCTS, PARTICULARLY IN SECURITY.
DETECTING ATTACKERS, REALLY IMPORTANT.
WE DON'T SELL AI PRODUCTS. I THINK THERE ARE INTERESTING
ADVANCES RECENTLY AND GENERATIVE AI. ONE THING IS THEY ARE COMPU TO
INTENSIVE. THERE IS A PROSPECT OF A LOT OF
FOR COMPUTE CYCLES. THAT IS SOMETHING THAT COULD
ULTIMATELY BENEFIT US WITH OUR COMPUTE PLATFORM.
IN FACT, EARLY WORK IS GOING ON NOW THAT WOULD USE ALGORITHMS
AND SCIENTIFIC METHODS TO MAKE IT MORE AFFORDABLE SO YOU CAN
DO WORK ON INFERENCE AND ENGINES WITH CPUS IS THAT A
GP'S WHICH IS MORE EFFICIENT. THAT IS A LOT OF EXCITING
RESULT TO COME, AND ULTIMATELY, GOOD FOR BUSINESS. >> IT IS INTERESTING THAT WE
HAVE HEARD FROM OTHER SOFTWARE COMPANIES THAT ARE BIT
LACKLUSTER. WE HAVE HAD A WORRY THAT PEOPLE
AREN'T GOING TO INVEST IN MUCH AS MUCH IN SECURING THEMSELVES
IN THIS ENVIRONMENT. IS THERE ANY SIGN FROM ANY OF
YOUR CLIENTS THAT THEY WILL HAVE TO PULL BACK IN THAT AREA,
OR NONE AT ALL? >> IT DOES SLOW DOWN THE SALE
CYCLES, BUT OUR GROWTH RATE EVEN IN THE LOW DOUBLE DIGITS
IS LESS THAN IT WAS LAST YEAR. THAT SAID, WE HAVE A STRONG
BOOKING QUARTER, AND WE ENDED UP TAKING BUSINESS AWAY FROM
THE COMPANIES YOU MENTIONED, PARTICULARLY IN THE FINANCIAL
SECTOR WHERE THE LEADING FINANCIAL INSTITUTIONS JUST
CAN'T HAVE AN OUTAGE OR AN INCIDENT OR HAVE AN ATTACK
THESE SUCCESSFUL IN THIS ENVIRONMENT.
I THINK THEY TURNED TO THAT MORE.
YOU WILL SEE SOME COMPANIES STRUGGLING, BUT ON BALANCE WITH
THIS ENVIRONMENT, IT'S GOOD FOR US. >> 19. THE CEO.
YOU SPELLED OUT THE ENVIRONMENT IN WHICH WE ARE CURRENTLY
FINDING OURSELVES. AND WHILE, WE ARE WATCHING
OTHER COMPANIES. THEY ARE NOT PERFORMING ON THE
DAY AS OTHERS. TECH OUT THIS INFRASTRUCTURE. FALLING IN TERMS OF 16% ON THE
DAY. THIS IS A STRUGGLING GROWTH RATE. WE ARE OVERALL SEEING THE
COMPANY POSTING NUMBERS THAT SHOW A GROWTH SLOW DOWN
OVERALL, THIS IS A BUSINESS THAT IS TRYING TO FIND ITS
EARNING WITH THE WEEK MACRO THAT JEFFREY IS SAYING.
A SMALL OVERALL IN THIS QUARTER, BUT IT REALLY IS A
MARGIN TURNAROUND IN THIS PARTICULAR COMPANY BEING
OVERSHADOWED BY A WEEK PICTURE GOING FORWARD, SO DETERIORATION
IS NET REVENUE ATTENTION RATE, AND OUT OF THE SECOND QUARTER
WITH MORE DIFFICULT DAYS AHEAD. COMING UP, LET'S TALK ABOUT
DAYS AHEAD TO COMPETE WITH CHET GPD.
MORE ON HOW THEY ARE GETTING IN ON THE ACTION, NEXT.
THIS IS BLOOMBERG. >> TIME FOR TALKING TECH.
MONTHLY SALES OF SEMICONDUCTOR MANUFACTURERS.
IT FELL FOR THE SECOND MONTH. DEMAND FOR ELECTRONICS HAS
SLOWED. MADE ORDER CHIPS ARE DOWN 14%. TELECOM PRESSED COMPANIES ARE
SETTING UP NEW TECHNOLOGY. THE CEO DIDN'T ELABORATE ON THE
PROJECTS GOALS SO FAR. LET'S LOOK AT CONTENT RIGHT NOW.
TUCKER CARLSEN SAYS THAT HE IS TURNING TO TWITTER TO LAUNCH A
NEW SHOW. AFTER BEING FIRED FROM FOX NEWS
NEWS, HE POSTED A THREE MINUTE YOU ONLINE SAYING HE WOULD
BRING A NEW VERSION OF THE FOX NEWS PROGRAM ALTHOUGH ELON MUSK
SAYS HE IS NOT SIGNED ANY SORT OF DEAL.
LET'S DIG INTO THIS WITH PLANS NOT SET IN STONE.
WHAT WITH THIS PROGRAM ACTUALLY LOOK LIKE?
WHAT ARE THE CONCERNS AROUND CONTENT MODERATION?
WE ARE JOINED BY BLOOMBERG NEWS. INTERESTING.
MANY WOULD SAY THAT HE LEFT FOX OR WAS PUSHED OUT AS
ADVERTISERS WERE NOT COMFORTABLE. HOW DOES THIS WORK?
IS THIS SUBSCRIPTION BASED? >> IS HARD TO SAY BECAUSE
ADVERTISERS WERE UNCOMFORTABLE WITH TUCKER CARLSEN. THEY WERE
UNCOMFORTABLE WITH ELON MUSK'S VERSION OF TWITTER.
DO YOU TAKE TWO NEGATIVES? IT'S HARD TO IMAGINE THAT
HAPPENING. ELON MUSK HAS BEEN TRYING TO
GET MORE SUBSCRIPTION MONEY FOR TWITTER.
GETTING THEM TO SIGN UP FOR TWITTER BLUE.
THAT HAS BEEN A STRUGGLE. MAYBE, GETTING SOME DIEHARD
TUCKER CARLSEN FANS TO SIGN UP FOR THE SHOW, IT IS ALL A
LITTLE BIT HARD TO IMAGINE. IF YOU THINK ABOUT VIDEO ON
TWITTER, WHAT IS THE MOST SUCCESSFUL VIDEO ON TWITTER?
IT IS FINE. THAT WAS SIX SECOND LOOPS OF
COMEDIANS AND PEOPLE TALKING, AND YOU ARE TAKING AN HOUR-LONG
SHOW IN PUTTING IT ON THE PLATFORM THAT HAS NO HISTORY OF
TV SHOWS >> THE SHOW USED TO STREAM ON TWITTER. >> THERE IS AN INTERESTING
VIEWPOINT OVER THE WAY WE CONSUME.
HOW MUCH VINDICATION IS THERE FOR PEOPLE IN THREE MINUTE LONG
MINUTES OF INFORMATION. DOES IT SHOW ANYWHERE YOU GO?
DOES IT RESEMBLE ANOTHER SOCIAL MEDIA NETWORK THAT HAS DONE
SHOWS LIKE THIS IN A DECENT MANNER? >> SNAPCHAT, YOUTUBE, FACEBOOK.
PEOPLE HAVE EXPERIMENTED WITH DIFFERENT KINDS OF SHOWS ON
SOCIAL MEDIA PLATFORMS. >> IS DONE WELL. >> TUCKER HAS A STUDIO HE BUILT
DURING THE PANDEMIC. HE HAS A ROBUST AND LOYAL
AUDIENCE. HOW WILL THAT BE MONETIZED?
IT'S HARD TO IMAGINE, BUT IT DOES GIVE HIM A VOICE TO KEEP
HIMSELF RELEVANT DURING THE CAMPAIGN THAT IS COMING UP,
INSTEAD OF BEING ON THE SIDELINES UNTIL HE FINDS A NEW
CABLE NETWORK THAT WERE TAKEN. >> RUMBLING SHARES ON THE
DOWNSIDE. GREAT TO GET YOUR TAKE ON THIS.
MEANWHILE, WE ARE GOING TO TALK ABOUT EV CHARGING.
WE WILL TAKE A TURN WITH THE CEO AFTER THE FIRST QUARTER
RESULTS. AND CHECK OUT THIS REVEAL AS
WELL. CAROLINE: WELCOME BACK.
I AM CAROLINE HYDE IN NEW YORK. LET'S HAVE A QUICK CHECK ON
MARKETS BECAUSE WE HAVE SEEN A REAL GRIEVE OFF THE BACK OF
INFLATION DATA THAT SHOWS THE PRICE AND PRESSURE IS COOLING. THE NASDAQ IS UP 0.7 COMES UP
TO 5% YEAR ON YEAR. YOU MAY ANTICIPATE THE FED MAY
TAKE A PAUSE IN THE HIKING CYCLE.
WE ARE DOWN SEVEN BASIS POINTS ON THE 10-YEAR YIELD.
BITCOIN IS HIGHER. UP TO PERCENT. WE HAVE AN EXTRAORDINARY AMOUNT
OF EARNINGS. A FIRM UP 4%. SOME CAUTION AFTER THINGS
DROPPED. WITH THE BY NOW, PAY LATER
OVERALL HEADWINDS OF CONSUMERS. MANY ANALYSTS THINK THIS IS A
STOP THAT CAN WEATHER. UP MORE THAN 4%.
DATA DOG IS UP 6%. IT HAS INTEGRATION WITH OPEN AI
AND PEOPLE LIKE IT. CHECKING ON HOW COMPANIES
INTERACT WITH CHATGPT AND THE LIKE. AIRBNB IS VERY MUCH ON THE
DOWNSIDE, HAVING ITS WORST FALL AS A PUBLICLY TRADED COMPANY.
LET'S TALK ABOUT OTHER EARNINGS. THERE ARE MORE.
IN THE EVENING SPACE, BLINK CHARGING DEBTS REPORTED REVENUE
FOR THE FIRST QUARTER SECTOR. IT IS STILL MORE THAN DOUBLING
REVENUES. IT IS CONTINUING TO TRANSITION
TO AN IN-HOUSE GROSS MARGIN PROFILE THAT IS EXPECTED TO
IMPROVE THROUGHOUT 2023 AND NEXT YEAR. LET'S TALK ABOUT IT WITH THE
RECENTLY APPOINTED CEO BRENDAN JONES.
TALK TO US ABOUT THE REVENUE DRIVERS.
WHO IS WANTING TO GET THEIR HANDS ON THE CHARGING STATIONS
ACROSS THE U.S.? BRENDAN: THE SPACES ON FIRE AS MORE AND
MORE STATES STARTS TO -- START TO ADOPT THINGS THAT SAY
INTERNAL COMBUSTION ENGINES CAN NO LONGER BE SOLD PAST 2035.
WE ARE SEEING INCREASING EMPHASIS ON CHARGING.
WHO IS ASKING FOR IT? EVERYTHING FROM A NOOSE OF
HOLIDAYS TO PRIVATE REAL ESTATE TO MENISCAL STATE GROUPS AND STATE PARKS THAT WANT TO HAVE
-- FROM A HOST OF MUNICIPALITIES TO PRIVATE REAL
ESTATE TO MUNICIPAL STATE GROUPS AND STATE PARKS.
WE HAVE BEGUN TO INSTALL CHARTERS WITH USPS.
THE GOAL RIGHT NOW IS TO MAKE SURE WE CAN GET AS MANY CHARGES
OUT THERE TO SERVE AS THE EV BUYING PUBLIC.
LINK RIGHT NOW IS ON DOUBLE-DIGIT GROWTH BETWEEN
LAST YEAR AND THIS YEAR. WE SEE THE TREND CONTINUING FOR
THE FUTURE. CAROLINE: HOW DOES THE U.S.
TACK VERSUS EUROPE, ASIA AND OTHER MARKETS YOU ARE ANALYZING?
N BRENDAN: WHAT YOU SEE IN EUROPE IS A
PROGRESSION OF THE MODEL SO THEY ARE AHEAD ON CAR SALES AND
CHARGERS IN THE PUBLIC SPACE. U.S. IS FALLING BEHIND THAT.
WHILE THEY ARE A LITTLE WE HEAD -- A LITTLE AHEAD, WE SEE
OURSELVES CATCHING UP. A LOT IN EUROPE IS POLICY
DRIVEN TO MANDATE CHARGERS AND EV.
WE HAVE SOME POLICIES THAT MAKE IT EASY TO ADOPT AND THEN
FEDERAL FUNDING FROM BIDEN ADMINISTRATION TO ACCELERATE
INFRASTRUCTURE. THE U.S. IS -- OTTO HAS ARE BRINGING OUT
CARS. TODAY, YOU HAVE SOME OF THE
MOST VERSATILE, SEXIEST HIGH-SPEED CARS ON THE MARKET.
CAROLINE: WHAT DO YOU DRIVE? BRENDAN:
I JUST TRANSITIONED OUT OF AN AUDI E TRON IS A BEAUTIFUL CAR. FULL EV ALL THE WAY BUT
EVERYTHING YOU EXPECTED IN LUXURY CAR.
NOW I AM LOOKING AT A COUPLE DIFFERENT CARS, SOME DOMESTIC
AND SOME FROM OVERSEAS. MY GOAL IN LIFE WAS TO ALWAYS
OWN A MUSTANG. BUT I AM DEFINITELY LEADING
THAT DIRECTION. CAROLINE: WHAT ABOUT THE INSIDE FOCUS ON
WHERE YOU ARE BUYING, BUT WHAT ABOUT THE INNOVATION OF WHERE
BLINK IS GOING? IT IS LOVELY TO HAVE
INFRASTRUCTURE WE CAN ALL PULL UP AND BE ABLE TO SPEEDILY
CHARGE OUR CARS, BUT WHAT ABOUT IF YOU ARE ON THE MOVE OR HAVE
BROKEN DOWN? I KNOW YOU HAVE A WHOLE HOST OF
OPTIONS ON ARRAY THIS YEAR. BRENDAN:
WHAT WE WANT TO DO IS SERVICE THE PLETHORA OF CHARGING NEEDS
FOR THE PUBLIC. THAT MEANS FAST CHARTERS ON THE
HIGHWAY THAT CAN FUEL A VEHICLE IN UNDER 30 MINUTES OR IN SOME
CASES, UNDER 15 DEPENDING ON THE SPEED OF THE BATTERY.
AND YOU ALSO HAVE TO HAVE HOME-BASED CHARGING.
MCKINSEY DATA SAYS 90% OF CHARGING THAT WILL TAKE PLACE
LOCALLY IS LEVEL TWO CHARGING. THE OTHER 10% IS D.C.
FAST CHARGING WHICH IS THE FASTER, MUST HAVE CHARGING.
THERE IS NEED FOR WHAT WE CALL A RESCUE CHARGER.
IF YOU RUN OUT OF CHARGE, JUST LIKE YOU RUN OUT OF GAS, WE
ALSO HAVE PRODUCT TO SATISFY THAT MARKET WE CAN CHARGE YOU
ON THE GO AND GET YOU BACK TO A CHARGER AS SOON AS POSSIBLE.
OUR JOB IS TO COVER THE HOME, THE PUBLIC, THE MINISTER
POLITIES, AND THE HIGHWAY WITH CHARGING.
TO MAKE SURE WE HAVE OPTIONS AND INNOVATIVE PRODUCTS TO
SERVE THE GENERAL NEEDS OUT THERE. CAROLINE:
ARE YOU GROWING THIS AND INNOVATING ORGANICALLY?
DO YOU WANT TO DO BOTH TO BE ABLE TO ADD THAT LEVEL OF
OFFERING? BRENDAN: WE CONTINUE TO BE AN
INQUISITIVE COMPANY. WHERE ACQUISITIONS MAKE SENSE,
WE WILL PURSUE THEM. WE JUST ACQUIRED A COMPANY
CALLED ENVOY WHO BASICALLY HAS PEOPLE ENGAGED WITH THEM ON A
CAR BY CAR BASIS. THEY GET IT. THEY ARE ALL EV'S.
THEY GET THEM FOR A DAY OR AN HOUR AND CHARGE IN OUR CHARGER
STATIONS. AND WE HAVE BLUE L.A. WHICH IS OUR ABILITY PROGRAM IN
LOS ANGELES. WE HAVE 200 STATIONS WITH TWO TO THE CARS -- TO THREE CARS.
THE GENTLEMAN GET A CAR FOR A DAY AND SERVE THE PUBLIC AND
OTHER COMMUNITIES SIMULTANEOUSLY.
WE DO BOTH THE CARS AND THE CHARGING. CAROLINE:
WHAT IS THE REGULATORY ENVIRONMENT FOR YOU FOR THE
ACQUISITIONS? I KNOW YOU ARE NOT A BIG CAP
PLAYER AT THE MOMENT, BUT WILL ARE CONCERNED ABOUT
ACQUISITIONS OF OTHER COMPANIES? BRENDAN:
YOU HAVE TO MAKE SURE YOU HAVE A HIGH DEGREE OF SYNERGY.
IF YOU DO NOT, IT DOES NOT MAKE SENSE.
THE ACQUISITION HAS TO FIT INTO OUR BUSINESS MODELS.
IF IT DOES NOT, WE ARE GOING TO PASS.
THE SYNERGIES MAKE THIS VERY VALID.
IF YOU LOOK AT ACQUISITIONS IN GENERAL, YOU SEE WHERE THEY
FAILED WHERE THEY DID NOT GET SYNERGY.
HE PUT A LOT OF MONEY AND WORK WITH MCKENZIE TO OUTLINE, SET
UP HAVE, AND SET A TIMELINE TO ASSOCIATE REVENUE SYNERGIES,
DNA SYNERGIES, AND PRODUCT SYNERGIES ACROSS THE BOARD.
WITHOUT THAT, WE ARE NOT GOING TO DO ACQUISITIONS.
WE NEED THIS TO BE EFFICIENT AND GET TO GLOBAL SCALE.
CAROLINE: WE THANK YOU. BLAKE CEO, BRENDAN JONES.
LET'S FOCUS ON MLA ON A MORE -- ON M&A MORE ON THE CURRENT
STANCE. THE ANTITRUST AGENDA BY PRESIDENT BIDEN IS A BIG DEAL
WITH SOME NEVER MAKING IT PAST THE BOARD ROOM.
WE HAVE NGUYEN ISLAND FROM WASHINGTON TO BREAK IT DOWN.
THE STORY IS SHOWING HOW MUCH IS IN EFFECT.
CAN YOU PAINT THE PICTURE OF WHERE WE HAVE BEEN AND WHAT WE
HAVE COME TO BECAUSE OF THE ADMINISTRATION? >> THE BIDEN ADMINISTRATION
CAME IN STRONG ON ANTITRUST. THEY THOUGHT PAST
ADMINISTRATIONS WERE TOO EASY ON MERGERS AND LET BIG DEALS
COME THROUGH ONLY TUNZI A COUPLE BIG ONES.
BUT THE BIDEN ADMINISTRATION HAS BEEN AGGRESSIVE SO FAR
SINCE THE ANTITRUST ENFORCERS CAME IN IN JULY 2021, THEY HAVE
CHALLENGED 17 CASES IN COURT. BUT THEY ALSO RAISED ANTITRUST
CONCERNS ABOUT ANOTHER 26. THOSE DEALS WERE ABANDONED
BEFORE THEY EVEN MADE IT TO COURT.
THEY HAVE A RECORD OF KILLING OFF DEAL SO FAR. CAROLINE: HOW MUCH ARE THEY ULTIMATELY
TECH SAVVY? WE KNOW THE FTC HAVE A VERY
MUCH -- A LEADER LEAH CON WHO IS FOCUS ON THE WORLD OF
TECHNOLOGY AND HAS DONE A LOT OF WORK WITHIN BIG TECH.
THERE IS A TALK ABOUT AI BEING A NEW AREA IN WHICH WE GET
COMPETITIVE OVERREACH AND MONOPOLISTIC CAPABILITIES.
HOW MUCH OF THE CONVERSATIONS ARE YOU HAVING?
IS IT ALL ABOUT BIG TECH OR DOES IT GO ACROSS INDUSTRIES? >> IT GOES ACROSS INDUSTRIES.
IF YOU LOOK AT DEALS THEY HAVE BLOCKED, YOU SEE SOME IN THE
HEALTH CARE CENTER, AND BRICK-AND-MORTAR INDUSTRIES
LIKE CONCRETE AND CEMENT. BUT BIG TECH INDUSTRIES ARE
ONES THAT ARE PAYING ATTENTION TO.
THE BIG FTC CHALLENGE LAST YEAR WAS BETWEEN TOO PLATFORMS AND
WITHIN WHICH WAS A SMALL STARTUP FOCUSED ON VIRTUAL
REALITY. ONE OF THE ANECDOTES IN OUR
STORY WAS ABOUT GOOGLE ABANDONING AN ACQUISITION
BECAUSE THEY HAD CONCERNS ABOUT THE ANTITRUST PROBLEMS IT COULD
RAISE. BOTH LEADERS OF THE AGENCIES
RIGHT NOW, LEAH CON AT FTC, AND JONATHAN KENT AT THE JUSTICE
DEPARTMENT, AS SAID THEY ARE LOOKING CLOSELY AT AI BECAUSE
THEY ARE CONCERNED THAT BIG COMPANIES LIKE MICROSOFT,
GOOGLE, AND AMAZON HAVE RESOURCES TO DEVOTE TO AI AND
ARE CONCERNED THEY MAY TRY BUY ING UP A LOT OF THE PEOPLE
FOCUSED ON THAT. CAROLINE:
SO WOULD SAY FTC ACTION HAS NOT REALLY BEEN THAT SUCCESSFUL.
DOES THIS COME GET -- GIVE COMPANY SPEAKING TO MORE
RESILIENCE OR DO THEY LOOK MORE AT WHAT THE U.K.
IS UP TO WITH MICROSOFT? >> IT REALLY DEPENDS.
COMPANIES THAT ARE MORE RISK-AVERSE WILL NOT WANT TO
PUT TIME AND MONEY INTO THIS. THE INCREASED ANTITRUST IS
DRIVING SOME OF THESE THINGS OUT. BUT REALLY BIG DEALS LIKE MICROSOFT ACTIVISION ARE STILL
GOING FORWARD EVEN IN THE FACE OF REGULATORY SCRUTINY.
WITH THAT ONE, THE U.K. HAS BLOCKED.
THE FTC BROUGHT LITIGATION AGAINST IT THAT IS SUPPOSED TO
GO TO TRIAL LATER THIS. WE ARE STILL WAITING FOR THE EU
TO MAKE A DECISION LATER THIS MONTH IT IS UNCLEAR IF THAT ONE
WILL GO THROUGH. YOU HAVE THAT MANY LAWSUITS, IT
IS HARD TO GO FORWARD. CAROLINE: IT IS GREAT TO HAVE YOU.
WE'RE JUST TALKING ABOUT THE WORRIES AROUND AI DOMINANCE.
WE HAVE A GREAT CONVERSATION IN THE WORLD OF GENERATIVE AI WITH
A LEADER SCALING IN ITUNES HELP INTEGRATE THEIR TOOLS SAFELY
AND WELL INTO THEIR SYSTEMS. AS TALK ABOUT POTENTIAL MONOPOLIES
BUILDING IN THESE ACE, OR WANT TO BE MONOPOLIES. PALANTIR UP ANOTHER DAY,
TALKING ABOUT UNPRECEDENTED DEMAND.
THE CEO SAYS THEY JUST WANT TO TAKE THE WHOLE MARKET. THAT IS THE STRATEGY FOR AI
APPARENTLY. CAROLINE:
SCALE AI AS A LEADER IN CREATING GENERATIVE AI FEATURES
AND IS LAUNCHING TWO NEW LEFT FORMS. JOINING US NOW IS
ALEXANDER WANG, THE FOUNDER AND CEO OF SCALE AI. AT THE MOMENT, I AM TRYING TO
WADE THROUGH PALANTIR TRYING TO TAKE THE WHOLE MARKET. WE HAD CHATGPT WITHIN ITS
OFFERINGS FOR SLACK AND IBM WITH >> NEXT.
WHAT ARE YOU OFFERING THAT IS DIFFERENT FROM THE OTHERS? ALEX:
AT SCALE, WE HAVE BEEN IN THE INDUSTRY FOR MORE THAN SEVEN
YEARS NOW. WE HAVE BEEN QUIETLY POWERING
MUCH OF THE MODERN REVOLUTION IN GENERATIVE AI.
WE ARE SEEING A LOT OF AI TAURUS PRETENDING -- TOURISTS
DEPENDENT -- PRETENDING TO BE AI NARRATIVES.
DO NOT SEE MANY OTHER PLATFORMS THAT CAN SAY THIS.
TODAY, WE ARE PROUD TO INTRODUCE OUR TWO NEW
GENERATIVE AI PLATFORMS. SCALE. A FINANCE SCALE -- SCALE
DONOCAN AND SCALE EGP. OUR DONOVAN PLATFORM IS THE
FIRST LARGE LABOR MODEL DEPLOYED FOR THE U.S.
GOVERNMENT. WITH DONOVAN, OUR WAR FIGHTERS
CAN ACT WITHIN MINUTES INSTEAD OF WEEKS. THIS INCLUDES THE U.S.
ARMY'S 18TH AIRBORNE CORPS, BCD I/O AND THE JOINT COMMAND AND
CONTROL EFFORT. AND MARINE CORPS DIVERSITY
SCHOOL OF FIGHTING. CAROLINE: ARE YOU SAYING THAT PALANTIR,
WITH IS MACHINE LEARNING AND ALREADY INTEGRATION WITH THE
DEFENSE IS AN AI TOURIST? : THE --ALEX: THE KEY THING TO
LOOK AT IS WHETHER OR NOT THEY HAVE CUSTOMERS WHO HAVE
TECHNOLOGY TODAY USING IT ACTIVE.
THERE ARE PLENTY OF PLATFORMS TOUTING HUGE ANNOUNCEMENTS BUT
DO NOT HAVE LIVE CUSTOMERS IN ANY ACTIVITY TODAY AND OFTEN
TIMES HAVE "COMING SOON" AS THE HEADLINE ON THEIR
HOMEPAGES. THAT IS ONE KEY THING TO LOOK
AT. AT SCALE, WE HAVE WORKED WITH
OPEN AI SINCE 2019, AND HAVE WORKED WITH OTHER TECHNOLOGIES
LIKE CHATGPT AND OTHER TECHNOLOGIES LIKE MICROSOFT,
META, STABILITY, ADEPT, CARPER AND COHERE.
WE HAVE BEEN IN THIS INDUSTRY. WE ARE A COMPANY WITH THE
GREATEST AMOUNT OF EXPERIENCE IN GENERATIVE AI AND WE ARE
EXCITED -- EXCITED TO BRING THIS TO GOVERNMENT CUSTOMERS.
CAROLINE: IN TERMS OF THE WHITE HOUSE, IS
IT GOING TO BE YOUR PLATFORM THEY ARE USING AT DEVCON 31 TWO
TEST AND UNDERSTAND HOW ANTHROPIC GOOGLE ACTUALLY WORK?
ALEX: EXACTLY. WE ARE SWITZERLAND.
WE ARE NOT BEHOLDEN TO ANYONE PLATFORM.
WE HAVE BEEN QUIETLY PARTNERING WITH MOST OF THE AI INDUSTRY.
ARE THE PERFECT PARTNER TO WORK WITH THE WHITE HOUSE AND DEATH CON TO USE OUR PLATFORM TO --
DEFCON TO USE A REPLY FROM TO UNDERSTAND WHAT THE IMPLICATION
SAFETY MODELS ARE. WE BELIEVE PROGRESS MODELS NEED
TO HAPPEN HAND IN HAND AND ALONGSIDE EVALUATION AND SAFETY.
WE HAVE BUILT OUR PLATFORM TO HELP ENABLE THIS AND THAT IS
WHY OUR PARTNER -- OUR PLATFORM IS GOING TO BE USED WITH THE
GOVERNMENT AND DEFCON TO UNDERSTAND THESE MODELS.
CAROLINE: WHAT DO YOU THINK YOU WILL FIND?
DO YOU THINK YOU WILL FIND SAFE AND SOLID BASES BEING CRAFTED
FOR NEW MODELS? CAROLINE: BROADLY WITHIN THE INDUSTRY,
ONE OF THE THINGS THAT HAS HAPPENED IS THESE MODELS HAVE
ALL BEEN RELEASED OUT INTO THE WORLD BEFORE MOST OF THE
TESTING HAS TAKEN PLACE IN THE PUBLIC.
INVARIABLY, WE ARE GOING TO FIND SOME THINGS ARE CONCERNING.
BUT WE WILL ALSO FIND MANY OF THE BUILDERS OF THE MODELS HAVE
ACTUALLY PUT A HUGE AMOUNT OF THOUGHT INTO THE SYSTEMS THEY
ARE DEVELOPING. I THINK WE WILL SEE A RANGE.
THERE WILL BE SOME MODEL SAFER THAN OTHERS.
I THINK WE WILL CONTINUE TO FIND THINGS WE NEED TO WORK ON
TO IMPROVE. OUR GOAL WITH THE WHITE HOUSE
AND DEFCON IS RELEASING A PLATFORM AND A FRAMEWORK THAT CAN BE USED ACROSS -- IN
PERPETUITY BY THE INDUSTRY. WE WANT TO CREATE A SYSTEM THAT
CAN ALWAYS BE USED TO VALUATE THE PROBLEMS GOING FORWARD.
CAROLINE: DOES IT MATTER IF WE PUT
VALUATION ON THE U.S. OR OTHERS DO, WHEN OTHERS LIKE
CHINA AND RUSSIA DO NOT? WHAT IS THIS LOOK LIKE?
TECHNOLOGY DOES NOT HAVE THAT MANY BOUNDARIES. ALEX:
THIS IS A REALLY IMPORTANT QUESTION.
THE TOPIC OF AI REGULATION IS CERTAINLY AN IMPORTANT ONE.
AS WE HAVE SEEN WITH AI TODAY, THE KEY TO HUMAN CENTRIC
RESPONSE AI IS A SOLID DATA FOUNDATION.
A TECHNOLOGY TO TRANSFORM TO THIS IS IMPORTANT TO CONSIDER
QUESTIONS ON AI REGULATION AND WHAT ARE THE CONSUMER IMPACTS
OF THIS TECHNOLOGY? ONE OF THE REASONS WE ARE
EXCITED ABOUT THE WORK WE ARE DOING WITH THE WHITE HOUSE AND
OTHERS. OUR ADVERSARIES ARE NEAR TO
COMPETITORS LIKE RUSSIA AND CHINA AND WILL NOT LET
REGULATION GET IN THE WAY OF THEIR AMBITIONS.
IT IS THE OPPOSITE. THEY WILL USE THESE TOOLS TO
TIGHTEN THEIR GRIP ON DOMESTIC, SOCIAL, AND POLITICAL CONTROL. IN CHINA, THE CONTENT OF THEIR
AI SYSTEMS NEED TO REFLECT THEIR SOCIALIST CORE VALUES,
AND AVOID INFORMATION THAT UNDERMINES THEIR STATE POWER OF
NATIONAL UNITY. YOU SEE INTENT FROM OUR NEAR
COMPETITORS TO USE THIS TECHNOLOGY TO FURTHER THEIR
AMBITIONS. THEY WILL NOT OVER REGULATE TO
PREVENT THE PROLIFERATION AND SPREAD OF TECHNOLOGY. CAROLINE:
VERY BRIEFLY, OPEN SOURCE VERSUS NOT?
WHERE DO YOU COME DOWN ON THAT? ALEX:
OUR BELIEF IS THAT ENTERPRISES AND GOVERNMENT CUSTOMERS NEED
AS MANY OPTIONS AS POSSIBLE. AS I MENTIONED, WE ARE SWITZERLAND AND WILL ENABLE OUR
CUSTOMERS TO USE OPEN SOURCE MODELS AND THE BEST SOURCE
MODELS TO BE ABLE TO ACHIEVE THEIR AMBITIONS.
IT IS A QUESTION OF CHOICE. THE MORE OPTIONS THERE ARE IN
THE ECOSYSTEM, THE BETTER. OUR GOAL IS TO ENABLE AS MANY
AS POSSIBLE. CAROLINE: ALEX WANG, FOUNDER AND CEO OF
SCALE AI. WHAT TO EXPECT IN THE WORLD OF
AI? THIS IS BLOOMBERG. [SPEAKING NON-ENGLISH LANGUAGE] CAROLINE:
WE HAVE TO GO BACK TO OUR ONE AND ONLY VIEW AT GOOGLE I/O
WHICH IS ABOUT TO KICK OFF. WE WILL HOST A CONVERSATION
AROUND BARD AND ALTAVISTA AND INTELLIGENCE. ED:
THIS IS THE DEVELOPERS CONFERENCE BUT IS ALL ABOUT AI.
BUT WE WANT TO KNOW IS ABOUT A MORE CONVERSATIONAL VERSION OF
GOOGLE SEARCH. SO MUCH EMPHASIS ON BARD WHEN
IT WAS RELEASED IN FEBRUARY BUT IT WAS MEANT TO BE A COMPANION.
HOW ARE THEY MOVING THE LEADER FORWARD IN TERMS OF THIS CORE
SEARCH PRODUCT? THAT IS THE QUESTION FOR THE
THOUSANDS OF DEVELOPERS HERE BUT WORLDWIDE VIRTUALLY ALSO.
CAROLINE: WHAT ABOUT DEVELOPERS BUILDING?
IS IT A HARDWARE KIT THAT GOOGLE MAKES? ED: WE EXPECT THEM TO UNVEIL PIXEL
FOLD, A LARGE FORMFACTOR FOLDING SMARTPHONE.
YOU ASK HOW DOES THIS RELATE TO AI? BUT WHEN YOU SPEAK TO
DEVELOPERS, THEY SAY LOOK HOW BIG IT IS.
THINK ABOUT THE PROCESSING POWER.
WHAT ARE THE INFERENCES ON THE SIDE OF AI USE CASES?
GOOGLE HAS 1% OF THE MARKET. FLIP FLOWS ARE 1% OF THE MARKET
ITSELF. SO HOW WILL THEY MOVE THE
NEEDLE FORWARD AND GROW THEIR BUSINESS AND DEEPLY INTEGRATE
AI THROUGHOUT ALL THEIR SOFTWARE? CAROLINE:
GREAT TO HAVE WHAT IS HAPPENING ON THE GROUND.
THE RUNOFF TO THE NEXT SPEECH HE WILL BE LISTENING TO.
ED LUDLOW, WE THANK HIM. HE WILL HAVE MUCH MORE
THROUGHOUT THE DAY FOR -- FROM GOOGLE I/O.
STAY WITH US FOR AN EXCLUSIVE
