October 9, 2025 • 34 mins
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Jared Isaacman and President Donald Trump have met in recent weeks and discussed reviving the fintech billionaire’s nomination to lead NASA, according to a person familiar with the matter.
A decision to reconsider the Elon Musk ally would mark a major reversal for Trump after the White House revoked the job offer in May citing Isaacman’s ties to Democratic politicians. That left NASA without a long-term leader as the space agency grapples with funding and job cuts and races to bring astronauts back to the moon.
Trump has met with Isaacman, a SpaceX astronaut and executive chairman of Shift4 Payments Inc. in person more than once in recent weeks to discuss his vision for leading the space agency, the person said, speaking on condition of anonymity because the matter is confidential.
The person cautioned that Trump hasn’t made a final decision and could go in a different direction. The role of NASA administrator also requires confirmation by the US Senate.
Today's show features:
- Bloomberg Tech Co-Host Ed Ludlow on reports that Jared Isaacman and President Donald Trump have met to discuss reviving Isaacman's nomination to lead NASA
- Samira Bakhtiar, General Manager of Media & Entertainment, Games & Sports Industry at AWS, on the impact of AI in Entertainment
- Laura Martin, Senior Entertainment & Internet Analyst, Needham & Co., on the prospects for consolidation in the media and entertainment business
- Edward Hamati, Chief Investment Officer of The Steward Trust and President of Polarity, on investment trends in the media and entertainment business
See omnystudio.com/listener for privacy information.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Bloomberg Audio Studios, Podcasts, radio News. This is Bloomberg business
Week Daily reporting from the magazine that helps global leaders
stay ahead with insight on the people, companies, and trends
shaping today's complex economy, plus global business, finance and tech
(00:23):
news as it happens. The Bloomberg Business Week Daily Podcast
with Carol Masser and Tim Stenebeck on Bloomberg Radio.
Speaker 2 (00:32):
Billionaire Jared Isacman is set to be in talks with
Trump over that top NASA job. You might remember he
was nominated to be the head of NASA, but that
nomination was pulled ed. Ludlow from Bloomberg Tech has the
exclusive He joins us on site here at a Bloomberg
screen time. This was really surprising to me. It was
a surprise.
Speaker 3 (00:49):
What we know from sources is that Jared Eisigman in
recent weeks has been meeting with the President and other
government officials, and that the discussion has centered around and
a pathway for Jared Isaacman to be renominated to lead NASA.
You'll remember he had been nominated, but the administration canceled
(01:11):
or terminated that nomination in May. At the time, the
President and the White House talked about how it was historic,
how it was his historic ties to the Democratic Party
that were behind it. But you'll remember we reported quite
deeply that actually it had something to do with Jared's
association with Elon Musk at a time where Musk had
(01:32):
a fractious relationship with the White House. So this is ongoing,
you know, we know from a White House official. The
President's made no decision, he's thinking about it. It could change,
but they are talking, and my understanding is they'll continue
to talk.
Speaker 4 (01:45):
Before we got going, I think we were all thinking, wait,
is this also, though, something big or broader in that
Elon repairing his relationship with the White House? Or is
this Jared repairing whatever went on before?
Speaker 3 (01:55):
Do you guys remember him on the show a few
weeks ago when the President hosted that dinner with different
technolology CEOs, Jerediacman was present, and Tim, you asked me,
was Isaacman who was there as Elon Musk's proxy as
had been reported in some of the media. Apparently somebody
there was there on Elon's path. My understanding is no,
Jerediseman was not there at that dinner as Elon Musk proxy.
(02:17):
He was there of his own accord. For whatever reason,
the President invited him. But this is very recent. What's
happening right now, the meetings between Jeredisigman and the President
of the United States, they're ongoing. He's meeting with other
government officials and right now Sean Duffy, the Transport Sect
is a temporary leader of NASA. But at the time
when the nomination was canceled, like loads of people across
(02:39):
industry and government, you know, held Jaredizacman in very high
regard as somebody very qualified to lead the agency.
Speaker 2 (02:46):
Well, let's talk a little about that, because there has
been criticism, oftentimes coming from the Democratic Party about many
of the President's picks for his cabinet. People who beat
Democrats and argue. Also, people sometimes in positions of science
or academia argue are not appropriate picks. It wasn't so
with Jared isaac Man.
Speaker 3 (03:08):
You know, I don't cover politics, I don't cover the
White House. I know that I try my best to
break these stories. But the thing about Jaredisacman is that
he was a private citizen astronaut. Right He'd been to
space more than once in projects with SpaceX that he'd
funded himself. In the nomination process. For the initial nomination,
he had recused himself of his ties to SpaceX and
(03:30):
sold out of any financial conflicts, as is normal in
that case. But people basically said, he gets the technology,
he knows the players in industry. He is not a
legacy politician. He is a successful entrepreneur. That was the
direction that the space industry was going. There was some
debate about what is Jaredisacmun's philosophy aligned with the presidents
(03:52):
and NASA's in that are we going to the moon
or are we going to Mars as Elamus wants to,
But basically he was seen as highly competent.
Speaker 2 (03:59):
That's the point.
Speaker 4 (04:00):
Yeah, it's interesting, and it's an idea of it. Is
this the right person for the job? And if it
sounds like that, it could potentially go back to that. Hey,
just before you go, we're here at screen time, you're
going to be you're doing a discussion here.
Speaker 5 (04:12):
Tell us that kind of your impressions.
Speaker 3 (04:14):
Yeah, I think right now, there's a lot of movement
in this industry. So I expected to come and talk
just about AI. Actually I think we look a lot
deeper at the economics of media and entertainment that's what
I get from the Ellison conversations. Just happened. My panel
selfishly is with the Twitch CEO Dan Clancy and then Pokemaine,
one of the most followed streamers on the planet, and
(04:35):
she's so interesting because she's making a lot of money
in a lot of different ways by going live on
Twitch but also posting to Instagram and YouTube. And you know,
the economics of being a content creator are like fascinating.
Isn't that the point of screen time? Like learning about
the money behind all the things that keep us glued
to the screen.
Speaker 4 (04:53):
Yes, yes, Look how many screens do we have here
right now? Ed Ludlow, congratulations the Bloomberg Exclusive. Highly recommend
everybody check out the full right through. It's on the
Bloomberg and at Bloomberg dot Com, at Ludlow co host
of b Tech right here Boberg TV.
Speaker 5 (05:07):
Ed, thank you so much.
Speaker 2 (05:08):
Stay with us. More from Bloomberg Business Week Daily coming
up after this.
Speaker 1 (05:15):
You're listening to the Bloomberg Business Week Daily Podcast. Catch
us live weekday afternoons from two to five eastering. Listen
on Applecarplay and Android Auto with the Bloomberg Business app,
or watch us live on YouTube.
Speaker 5 (05:30):
Let's get to it with. This is Samira Baktir.
Speaker 4 (05:34):
She is General manager of Media, Entertainment, Games and Sports
Industry at AWS Amazon Web Services. You know, we think
of AWS and we think about Amazon as a hyperscaler
that a cloud and stuff, but there is so much
more and getting to know what you do. I mean,
you're constantly talking with folks in gaming, sports video, They're
trying to engage with the consumer ups all different levels.
Speaker 6 (05:54):
Yeah, there's so much happening, and I appreciate you laying
out those stats and then also watching that presentation on
an AB I very much appreciate that. I think let
me start with fundamentally, the cloud has become the backbone
of media distribution globally. Without the cloud, it would be
impossible for consumers to gain access to streaming services.
Speaker 5 (06:11):
You're streaming this right now as an example.
Speaker 6 (06:13):
These types of services become fundamental for global reach.
Speaker 5 (06:16):
The cloud also is critical relative.
Speaker 6 (06:19):
To content creation as well as the ability to create
different types of audience engagement motions that can be monetized
by organizations around the world. And so to those stats
that you just described. At a to BS, we have
the privilege of working with everyone from content creative studios
to global streamers, to broadcasters, to game developers and game distributors,
(06:40):
and it's been an honor to be able to work
with them across this motion. One of the things I'm
most proud of is that over a billion people right
now are receiving their streaming content based off of the
a WS services that we provide.
Speaker 5 (06:51):
It's a lot.
Speaker 6 (06:51):
And to your point about games, seven hundred and fifty
million people are playing games every single month based off
of those same services. And we're not just talking about
Triple A games like Fortnite, but casual gaming as well,
like Candy Crush or Wordle from the New York Times.
Speaker 5 (07:05):
By the way, again, all great a to BS customers.
I play Wordle.
Speaker 2 (07:08):
It's you do play wordle. I know that about you. Yes,
you have a tech string of like people you compare
wordlescores with, right, including many of your siblings. Yes, indeed,
it's this I know about you, Carol. I want to
talk a little bit about some big customers. Netflix, for example,
is a huge customer. When you when you look at
areas of growth across aws, and you know kind of
(07:29):
overlay that with consumer behavior. Where is the biggest area
of growth right now in terms of what people are demanding.
Speaker 5 (07:35):
Yeah, So two things.
Speaker 6 (07:36):
One is, I thought great Peters did a wonderful job
last night during the Bloomberg screen Time presentation. I really
loved how we talked about Netflix being a build versus
by culture.
Speaker 2 (07:45):
Yeah, he's co CEO of Netflix. For anyone who.
Speaker 5 (07:47):
Missing, yeah, thank you.
Speaker 6 (07:48):
And so it's very important that we ground ourselves on
that too, because at a to BS, we want to
be able to provide the building blocks or the primitives
to allow for anyone to be able to build anything
that they could imagine. And Netflix has really leaned into
that very technical organization. We're delighted to be able to
partner with them for so many years. And then to
your second question about like what are we seeing Fundamentally,
I'm hearing three things from customers all around the world
(08:10):
that they want. The first is they want to be
able to create more content, high fidelity content, at a
lower price point, much faster than ever before. And this
includes live content like the ones you're watching right now,
to episodic content, to theatrical content, to animated content, you
name it. They want to do it faster, cheaper, and better.
The second is that they want to really cultivate multi
channel monetization opportunities. So this means being able to go
(08:32):
beyond and add impression, but really look at being able
to monetize against a three hundred and sixty degree perspective
of how their IP shows up across different mediums. And
then finally, everyone's hyper focused on next generation of fan engagement.
How can you really enhance the experience so that you
don't just retain subscribers, right, but you have people coming
back for more and more. And I think the through
(08:54):
line underneath all of that is the availability of generative
AI and what that can help do to help to
really augment our capabilities and accelerate innovation, but then also
just make us so much more productive.
Speaker 4 (09:07):
One of the things I thought, because I've thought about
your world and all the things, whether it's media, entertainment,
game sports, which thing is kind of driving demand at AWS,
I'm just curious because we keep hearing so much about gaming,
everyone getting into gaming.
Speaker 2 (09:21):
We're going to talk a lot about gaming over the
next three hours in our program. It's a big theme here.
Speaker 6 (09:25):
Well, look, we again, we have customers across all of
those industries. Let's start with what's going on in the industry.
PwC released a study recently saying that by twenty twenty nine,
the entertainment industry is going to be worth three point
five trillion dollars. That's up from two point nine trillion
last year. It's like an ad of six hundred billion dollars.
It's a look worth of opportunity out there. And I
(09:46):
think that if you work backwards again from those generational
preferences that we're seeing, like you talked about Genalpha, gen
Z's propensity for games, for social for user generated content,
for music, for audio, this really signals to more traditional
established entertainment brands that it's no longer sufficient for them
to be good at one type of medium anymore.
Speaker 5 (10:04):
They really need to diversify.
Speaker 6 (10:06):
They need to create much more interactive and immersive experiences.
Speaker 5 (10:08):
And so we're seeing this convergence of.
Speaker 6 (10:10):
The tech come together to be able to allow for
new product propositions to come to market faster than ever before.
And one of the things that I'm very interested in
is what that type of pressure is going to do
amongst startups versus that more established legacy brand And now
you had mentioned gaming. I think that some of the
(10:31):
incredible convergence that we're seeing across game tech.
Speaker 5 (10:33):
If you look at what Epic did last.
Speaker 6 (10:35):
Year with Fortnite and the concert that they had to
Snoop Dogg, and you had Snoop Dogg on this program
last year, but they did an incredible job. They did
a live concert Snoop Dogg was there, it was in
the game. They were able to attract millions in game,
millions more across the digital platforms, and they had thousands
show up in Times Square. But then Roadblocks is also
doing this some thing, and I was just upstairs with
Unis from Scope.
Speaker 2 (10:54):
Ye she's a little later.
Speaker 5 (10:56):
Yeah, oh Tillarry say hi made aws customer.
Speaker 6 (10:58):
But you look at what they've been doing with Pokemon Go,
that again speaks to that conversions because you want to
meet consumers wherever they are, across all all demographics.
Speaker 4 (11:06):
So just to follow up, then, so is it gaming
where you see the most growth where you mean, like
traditional media if you will, that's where they want to
go or is it all of it? You know, we
mentioned sports has also been an expression. You guys have
done a lot with f one. So I'm just trying
to bea is it all growing kind of at the
same levels, or is it one thing sports over gaming
or something that's absolutely leading the way.
Speaker 6 (11:26):
So I think the question comes down to, like where
is the engagement the best. Definitely, live sports has an
engagement factor that's unlike other types of traditional mediums. Again,
that's why we work really closely with Formula one, the
PGA to our the NBA. Actually, just last week we
announced a strategic relationship with the NBA where now their
official cloud and cloud AA partner because we're going to
(11:47):
be able to launch something called MBA inside the game
powered by a TOWS where we're going to be able
to create a platform to ingust billions of data points
from these games in order to create a more interactive
and insightful gaming sports viewing experience. It's like, really get
you behind the game. So that's one element of it,
But then I think you also can extend it too
to the engagement that occurs across again traditional gaming, but
(12:09):
then there's also betting and gaming as well.
Speaker 2 (12:11):
Yeah, So to follow up on that on the live
sports part of this, Early in my career, I remember
covering the Yahoo NFL game that was broadcast. This was
hard to believe ten years ago at this point, and
there was so much attention on this because it was
like the first streamed NFL game a tech company was doing.
Right now, this is table stakes, absolutely, especially when it
comes to AWS. What goes into producing something live versus
(12:35):
delivering content that's already recorded. Is it much more processing?
Is it much more pressure? What is it?
Speaker 5 (12:42):
Yeah?
Speaker 6 (12:42):
How much how technical can I get here?
Speaker 2 (12:45):
Technical?
Speaker 5 (12:45):
I was also going to say, like, what takes there's
a whole bunch.
Speaker 4 (12:49):
Of people behind here, what it takes to put this
together live?
Speaker 5 (12:51):
And it's It's true, and we are.
Speaker 2 (12:53):
Wearing these like the football announcers.
Speaker 6 (12:55):
I know, I actually feel like we're commentating a live
event here on. So look, a lot a lot goes
into it, right, So I think fundamentally there's elements that
are similar, right with like the distribution of the technology,
especially associated to streaming, But there's quite a bit that
goes into the production of content. You need to be
able to ingest live feeds, you need to transcode these feeds,
you need to package those feeds, and all of those
(13:16):
have historically been done through more legacy technology stacks that
have had to reside on prem Actually, just last last month,
we announced the ten year anniversary of our A to
BS Elemental Media Services. These are purpose built services for
broadcast and production, and they allow for us to do
all those things that I just described that have historically
been on prem you could do them in the cloud,
(13:37):
and customers.
Speaker 5 (13:37):
Are adopting them at scale.
Speaker 6 (13:38):
We work really closely with customers like Fox, the BBC,
NBC Universal.
Speaker 5 (13:44):
Just a name of feel and.
Speaker 2 (13:45):
What do you say on prem You mean on premise.
It's the idea of actually having this equipment with you
at a certain location versus having it in the cloud.
Speaker 7 (13:52):
Yeah.
Speaker 6 (13:52):
Absolutely, because I think to your point about the transition, well,
why would you want to do that? You would want
to do that because there's sustainability benefits associated to it,
there's cost benefits associated to it.
Speaker 5 (14:00):
And then if you're in a position.
Speaker 6 (14:01):
Where you have to actually roll out less physical infrastructure,
it allows for you to create more.
Speaker 5 (14:06):
Content, more shows.
Speaker 6 (14:07):
What would be preventing you if you had infinite resources
from being able to cover more events like this around
the world simultaneously.
Speaker 5 (14:15):
That's what the cod really provides. I am curious about
the AWS stack business coming out series as we talk.
Speaker 4 (14:23):
About generative AI, large language models. Every industry finance, healthcare,
you name it, that are tapping into it. So we
think about Amazon on that level. But then I'm hearing
about all the stuff that you are doing specifically with
specific clients, and it sounds like that's another in the
pecking order, So talk to us about that stack.
Speaker 6 (14:41):
Yeah, absolutely, So I'm hyper focused on serving the media, entertainment, games,
and sports industry. Everything my team and I do is
really grounded and around taking the AWS services that exist
there's over two hundred that have numerous features and making
sure that we have a subset that are very purpose
built for the needs of entertainment customers. And then we're
also focused on ensuring that we can advance the industry
associated to it. So as an example, we're active participants
(15:03):
in the Society of Motion Picture and Television Engineers. We
actively engage with c TWOPA, which is focused on prominence.
We actively engage with Movie Labs, which is really focused
on this vision by twenty thirty of being able to
create entire pieces of theatrical film in the cloud.
Speaker 5 (15:18):
And we're the only.
Speaker 6 (15:19):
Technology provider that's been able to satisfy five of the
ten different principles that they are aiming toool after, so
I share that with you because I think when you
look at AWS, we are the world's most comprehensive and
most broadly adopted cloud, and we have two hundred services
that can be used to invent almost anything. My job,
my team's job, is really to make sure that we
(15:40):
bring that subject matter expertise to bear, to be able
to ensure that the outcomes that matter most to our
entertainment customers can be realized, and that we're able to
bring the industry along.
Speaker 4 (15:48):
With us a lot. I know we're going to continue
this conversation in the future. Is so great to get
some time.
Speaker 5 (15:53):
Really, thank you.
Speaker 4 (15:53):
It's a pleasure to meet both of you same here,
so appreciate it. Samira back to your She is general
manager of Media, Entertainment, Games and Sports Industry over at
AWS Amazon Web Services.
Speaker 1 (16:03):
You're listening to the Bloomberg Business Week Daily Podcast. Catch
us live weekday afternoons from two to five eastering. Listen
on Applecarplay and Android Auto with the Bloomberg Business app,
or watch us live on YouTube.
Speaker 4 (16:19):
Carol Master Timstandbeck live here at Bloomberg screen Time. We
are in Los Angeles. There are several.
Speaker 5 (16:24):
Names in media entertainment Internet.
Speaker 4 (16:25):
Spaces that you've got to listen to, and that includes
our next guest. Laura Martin, Senior aliset at Niedeman Company,
joins us. She covers media, entertainment, Internet spaces. Usually we
are talking to her remotely, but we came to her home.
Speaker 5 (16:38):
So delighted to have you here with us.
Speaker 4 (16:40):
When you come to an event like this, and I'm
sure you go to a lot of conferences and so
so what is it that you're looking out for? You
know what's great about Bloomberg screen Time is you have
everybody that's important in media, both old media and new media,
which a lot of conferences miss either one silo or
the other, and they are converging and therefore their competitive
statements are relevant to both sides of the business.
Speaker 2 (17:02):
Who's making this convergence the best?
Speaker 4 (17:04):
Amazon? I think Amazon and YouTube. I think if you think.
Speaker 2 (17:07):
About walls is literally because they're both like new media
the first right, they're like, they're not incumbents. Yeah, no,
maybe they could be, but.
Speaker 4 (17:14):
I think sometimes incumbents ignore them, and I think Wall
Street doesn't think that's actually the smartest move.
Speaker 2 (17:19):
There was, interestingly comment in the Jimmy Kimmel conversation last
night about how Jimmy Kimmel looks at YouTube and if
he's changed his show as a result of YouTube, and
he said, I haven't ever changed my show for YouTube,
but I do like to wake up and see that
a few million people have watched it. But he did
say ABC doesn't make money from YouTube. YouTube is the
one who makes the money.
Speaker 8 (17:40):
I don't know.
Speaker 4 (17:40):
I know YouTubers are sailing around the world and they're
making millions of dollars a year, so it sounds like
a good life to me.
Speaker 2 (17:45):
But there's a disintermediation happening right there. So even if
he's getting more eyeballs, he's not seeing the revenue.
Speaker 5 (17:51):
I think the important point here is we have a funnel.
Speaker 4 (17:54):
You need to have young people at the top of
the funnel to create a TV let's call it a habit,
and not to video games or not just interactivity or
not just short form on TikTok. So television has to
have top of the funnel. YouTube does that for you.
So this notion of money now versus money later, you
must have that top of the funnel for young people
to come to longer form, high quality programming, which makes
(18:17):
me think about the interest in Warner Brothers Discovery. On that,
Greg Peters of Netflix said, or he was asked about
it with lukashaff he was interested in Warner Brothers Discovery.
Speaker 5 (18:27):
He talked about it last night. Let's listen to what
he had to say.
Speaker 2 (18:30):
There's been some reports around you guys being interested in
Warner Brothers Discovery. Is there any truth to that?
Speaker 5 (18:36):
I would say this.
Speaker 7 (18:36):
You know, we come from a deep perriage of being
builders rather than buyers. I also think that it's you know,
one should have a reasonal amount of skepticism around big
media mergers. They don't have an amazing track record over
you know, the history of time, So you know, I
would say it's our Also, it's our responsibility to evaluate
(18:57):
all our options in front.
Speaker 2 (18:59):
So you'll look, you'll have a conversation that the odds
of an offer are pretty low.
Speaker 4 (19:03):
Yeah.
Speaker 7 (19:03):
Our job is to figure out, like what's the best
way to grow our business, right, and we have to think,
you know, really carefully, like how do we invest our capital,
our time and our attention. And if that's the best
way to do it, great, and if it's not, then
we should do something else.
Speaker 5 (19:18):
All right.
Speaker 4 (19:19):
That, of course, Greg Peter's over at Netflix talking with
Lukashaw last night Warner Brothers, and then there's also David
Ellison that there's been talk that maybe he'll be interested.
Is that a good I don't know. Is that a
good bix of businesses Warner Brothers. Is that about going
after the younger consumer?
Speaker 5 (19:35):
No, it's not.
Speaker 4 (19:36):
But I would say this that Netflix continues to try
to create IP from scratch, and as we know from
the sequalization of the Box Office, creating how me starting
with an embedded fandom from thirty years ago, fifty years
ago and then holding on because it creates value in
your old stuff when you create something with that IP
and the new like current.
Speaker 2 (19:55):
Like a happy Gilmore too.
Speaker 4 (19:56):
Yeah like that And if so, I ultimately think he
can a non answer.
Speaker 5 (20:00):
He gave a very thoughtful non answer. Does that mean
that maybe they are interested?
Speaker 4 (20:05):
I think ultimately they must buy established IP because it
is so risky, not necessarily Warner Brothers, but they must
buy IP that they have library value that they can
then make new and own it.
Speaker 2 (20:17):
I did not get that from his answer. I love
that you're saying this. My response to hearing that was okay.
He says their builders, not buyers. They haven't traditionally made
big acquisitions, and.
Speaker 4 (20:26):
They said they never do live sports, and they said
they'd never do advertising. So like non answer, so outright denial,
maybe he'd be more likely to buy to be outright denied.
Speaker 2 (20:35):
Should they buy?
Speaker 4 (20:37):
You know, good question. They need something with deep IP.
These fifty year old libraries are far and few between.
They didn't buy Paramount, which would have been also a
very big deep library, and it would have been a
quarters expensive.
Speaker 5 (20:48):
So we'll have to see.
Speaker 4 (20:50):
But in the end, I do believe Netflix must own
deep IP and stop just taking the risk that you're
creating something from scratch because maybe it's cheaper. All right,
So let's go to David Ellison Sky Dance Paramount, who
also was asked about there's been rumors about that they
are getting ready to make a bit of Warner Brothers.
Speaker 5 (21:07):
What do you think about that combination?
Speaker 4 (21:09):
Well, I think the thing about David Allison so far
is he has been really quiet with Wall Street about
what these individual tactical moves he's making, how they fit together.
So he overpaid for UFC outbitting Netflix seven billion a
year Ian billion dollars a year for seven years, wasted money.
I think he wasted a billion dollars, mostly of his money,
but public shareholder money. And now he just bought the
(21:30):
Free Press for one hundred and fifty million. I would
think it was worth twenty So it destroyed one hundred
million in the scheme of life, not destroying billions, but
totally unclear how they fit together or what the vision is,
you know, So the idea of him buying Warner Brothers, like,
if he isn't articulating a vision, I don't know why
public shareholders are paying part of the bill.
Speaker 5 (21:47):
So he's not doing a good job. He's not doing
a good job.
Speaker 2 (21:51):
Why do you think the Free Press was not a goodbye?
Speaker 5 (21:53):
I think he overpaid.
Speaker 4 (21:54):
I think Wall Street hates like I think it's unclear
you can monetize podcasts, and I think we hate everything
that is like doesn't have a clearer revenue stream was
associated with it.
Speaker 2 (22:05):
He argues that, and he said this during the conversation
with Lucas earlier, that he wants to appeal to the
seventy percent of people who identify as right of center
and left of center. That's who he wants to bring in.
And he thinks that Barry Weiss can help do that,
do you agree?
Speaker 4 (22:20):
Well, I mean looking into her pro I mean we'll
see today because she just showed up in the CBS boardroom.
But she's I would say, a highly polarized figure. So
we'll see how she does and how long she lasts
not too.
Speaker 2 (22:31):
Do you think the news business is long for being
at CBS? Think? Do they keep it? Yeah?
Speaker 5 (22:38):
Yeah, I think they keep it. I think they need.
Speaker 4 (22:40):
You need live programming, and live programming to sports, which
is really expensive in news, which isn't quite as expensive,
and really smart people that have a point of view.
They get paid to have a point of view, and
they're deep thinkers.
Speaker 5 (22:50):
So we'll see. I mean, he's trying to make up.
Speaker 4 (22:52):
He's doing tactical things without communicating an overall vision, and
I don't know what that means. Like I understand Kneese audiences.
I understand if you want to target conservatives or if
you want to target liberals. It's a polarized political environment.
How do you target both? Like that doesn't actually feel
like a target market. It feels like a mass market.
But that is what CBS did before. And it sounds
(23:12):
like he thinks he's doing something different. So I'm confused, Lord,
does what is going on at CBS and Skydance and
Paramount does that impact the owners of I think about
the traditional networks of NBC and ABC, like, how does
that what they that deal impact the rest of the
media space.
Speaker 5 (23:28):
So do you know you don't because you don't sound
like you respect what he's doing.
Speaker 2 (23:32):
Yeah.
Speaker 4 (23:32):
No, I don't think he's done good work yet, or
at least he hasn't communicated. I mean, there is a
communication function when you're a public company that he is.
I'd give him a B minus doing but and he
says he likes being public.
Speaker 5 (23:43):
Yeah, I don't know what that means. But okay, good good.
Speaker 4 (23:46):
We're paying part of the bill. The public shareholders are
paying part of his bill, so I guess he should.
I would say, look, we just wrote a piece saying
that ABC, which is Disney, should just shut down ABC
because then they become unregulated and the FCC on the
Kimmel thing is involved in free speech.
Speaker 5 (24:01):
So if Disney just shut it down, we think it's
so ten.
Speaker 4 (24:03):
Billion dollar right off one time only and now they
would be unregulated.
Speaker 2 (24:08):
Yay.
Speaker 4 (24:08):
It seems like a lot of you know, Wall Street
went out of it back. It's a one time right off.
We think they should just shut it down.
Speaker 2 (24:13):
For Wall Street. Maybe not so good for.
Speaker 4 (24:15):
The voices competition to be bad for a lot of
things in DC. But I could say the same thing
about CBS, Like now, I think, you know, Larry Ellison
has a I mean Larry the dad has a privileged
position with Donald Trump, so no need for him. I mean,
Brendan Carr is not going to get in his way
because of the friendship with the President, and the FCC
is an executive branch regulatory agency, so he doesn't need
(24:38):
to shut it down. But I think broadcasters are irrelevant today.
Speaker 5 (24:42):
Not us though, no, not you be careful.
Speaker 2 (24:45):
We like you.
Speaker 4 (24:46):
Laura Martin, senior analyst at Nita Ban Company, joining us
here at Bloomberg screen Time.
Speaker 2 (24:51):
Do not go anywhere, Stay with us. More from Bloomberg
Business Week Daily coming up after this.
Speaker 8 (25:01):
This is the Bloomberg Business Week Daily Podcast. Listen live
each weekday starting at two pm Eastern on Apple Car
Playing and the Android Auto with the Bloomberg Business App.
You can also listen live on Amazon Alexa from our
flagship New York station, just Say Alexa played Bloomberg eleven thirty.
Speaker 4 (25:20):
So we are speaking to the moguls. We're talking to
the content creators, celebrities, entrepreneurs during the next, you know,
phase of pop culture. These are the drivers, tim they
are doing it all. Having said that, all of this
requires a lot of money capital, and that's where Edward
Hamadi comes in. He's chief investment officer of the Steward Trust,
which is the family office of the Stewart family. The
(25:40):
president of the entertainment company Polarity, also involved with Lion
Forge Entertainment. It's an Academy Award winning Black owned animation
and live action studio. He wears a lot of hats,
which is why we are really delighted to have him
here on set with us.
Speaker 2 (25:54):
Welcome to screen time and good to see you. You
just wrapped up a conversation where you were talking all
about I have an investment flowing into different parts of entertainment.
I mean we're talking sports media ventures. Perhaps a bigger
example of this in recent weeks than the take private
deal of EA fifty five billion dollars. What does a
deal like that signify to you, Well, it takes a
(26:16):
big deal.
Speaker 9 (26:16):
First of all, a lot of capital concentration, is how
I would look at it. But it you know, overall
that space has a lot of momentum right now, a
lot of capital velocity. But that's a that's a big,
significant valuation.
Speaker 2 (26:31):
I think that's fair to say, too high of evaluation.
Speaker 9 (26:35):
I couldn't comment. I couldn't comment. I haven't seen the deal.
Speaker 4 (26:39):
What about valuations in general when it comes to media
and entertainment right now, I mean there's a lot of
stuff slashing around. We're seeing consolidation, Folks who want exposure
to certain things, Folks who want to get rid of
exposure to certain.
Speaker 5 (26:50):
Things talk to us through that.
Speaker 9 (26:52):
So what I would say is that we are seeing
I'll call them interesting, but some things are overvalued in
my opinion. I mean, if you look at sports right now,
the valuations are sky high and it's crushing the who
can be buyers, you know, and that's why they've opened
that up to private equity. Yeah, i'd say on the
media side, it's interesting. And why do I use that
(27:16):
Because it depends on what the formula of the IP is.
So there's some things that have big audiences where you
can quantify it pretty nicely and say, look, this has
real potential. There are other things that have become sort
of legacy, you know, stagnant properties. And then you wonder,
does this thing what kind of juice does it really have?
Do you have the team that can come in and
(27:37):
buy it and give it some new life. So it's
going to depend on what the nature of it is.
And then obviously, you know, we had David Ellison speaking
and he's been pretty bold in what they're going to
do in their space. And there's some really compelling eypeople
A's there and big names that have been around for
a while.
Speaker 5 (27:55):
What do we need to know?
Speaker 4 (27:55):
I always think about tim and I always think about
the Boomberg audience, investors, you know, the changing the disruptors.
David Allison is a disruptor when it comes to media.
What are the what are the focal points that he's
doing that you think investors should be taking note of.
Speaker 9 (28:09):
I think the first, the the tech first component is
a big deal. I think that there was room for
a lot of new efficiency, especially when you're building in streaming.
It's a it's a platform and all the things he described.
It was key for some consolidation having too many streaming platforms.
That's smart. Also, you know, just having the oracle backbone
(28:32):
makes too much sense for them. So that's a big
synergy that they can bring to the table and the
things they're doing from a content acquisition perspective. You know,
he talked a lot about the intersection of sports. Anything
you can do to bring sports to streaming is like
the holy grail. And you know UFC is an annual,
year round event, whereas most sports have seasons. So he
(28:54):
is one hundred percent correct to do that.
Speaker 2 (28:56):
As I mentioned one of the hats you do, where
is your CIO of the Steward US And I'm wondering
what your investment strategy is there with regard to media.
Is it you also have DNA and private equity, So
is it like a private equity approach where you buy it,
then you improve operations and hopefully sell it for more
or is it a permanent capital where you're like just
(29:17):
buying and holding and you're taking those cash flows.
Speaker 9 (29:19):
So we've done in building our companies, we look at
it with a little bit more patient approach. We're obviously
not going to never say oh, we won't sell this,
but fundamentally, this is a family of entrepreneurs who want
to build interesting platforms. So our companies like line Forge
and only Press are on upwards trajectories. We've brought in
(29:40):
some outside capital in the case of lin Forge, to
have more smart money at the table, but fundamentally we
want to you know, line Forge's quietly stated admission is
to be the next DreamWorks and so kids and family
is a big opportunity. Would also look at where we
can do intersections with sports, because we think that has
brought appeal as well IP and doing things like shows
(30:02):
and movies.
Speaker 2 (30:02):
What do you mean by that? What's the opportunity Because
you know, if you look at.
Speaker 9 (30:08):
Let's pick a sport, if you look right now, there's
a lot of opportunity in women's sports. You don't necessarily
have to own the sports league. Why don't you make
shows where you have rights to do things like cover
the lives of the athletes. We're seeing it Wrexham for example,
great show. It's doing really well and it's rounding out
(30:28):
how people view that well. If you want to access
women's sports, for example, I think there's a more robust
story to tell telling stories about young girls playing volleyball
and how do they get prepared. There's a huge audience sports.
I'll use volleyball as the example, thirty seven million people
are the audience of women's volleyball under eighteen, between their families,
(30:49):
the women who participate, etc. And the people want to
watch it. There should be some great stories there to
tell about that.
Speaker 4 (30:56):
Okayse in women are pretty spectacular, so I'm just going
to put it out there so not.
Speaker 5 (31:00):
Do more stuff.
Speaker 9 (31:01):
Again, very entertaining, and it's it's just an area that
hasn't been focused on. You know. We always talk about
the big sports, yeah, which are robust, high valuations, et cetera.
But there's these all these other things that are coming up,
and then you have, oh, by the way, you know,
every four years you have the Olympics, which is like
the culmination of whatever things you do. So there's a
great thing you can do to really build around those things.
Speaker 3 (31:24):
You know.
Speaker 5 (31:24):
It's interesting.
Speaker 4 (31:24):
I think we thought for a while, because there were
so many streaming services and so many different platforms, that
it was the era of the content creator. Is it
still the era of the content creator versus those who
deliver it?
Speaker 2 (31:35):
Yes?
Speaker 9 (31:36):
I think that what has happened is now you look
at things like YouTube, you look at things like micro dramas,
you look at you know, podcasts and all the sorts
of things. You have an ability now and different platforms
to create an audience around something new. So we have
a show that we're going to make the full series of.
Speaker 5 (31:55):
It is for.
Speaker 9 (31:56):
Young adults called Lost Links. It was on YouTube. The
audience loved it, these these little episodes, you know, one
in five minute episodes. But you have two three million
followers who are now clamoring to see a full series
around such a concept. That is an that's a denovo
new thing that people want to see.
Speaker 2 (32:17):
You are not based in Hollywood, No, you were based
in Boston. You're a California and yeah you're yeah, you're
in Boston. Advantage disadvantage, Well, I think so.
Speaker 9 (32:26):
First of all, my you know, because I work in
the family office, I can exist. If I have a
laptop and a cell phone, I can be anywhere and
do a lot. And and you know the Stewart's joke
that I'm like Bosley, you know, I just sometimes I
call in and make stuff happen. But being in Boston,
you know, we have a lot of GPS that we've
invested in and that you know, it's it's a great
(32:49):
market to be in. It's number one in healthcare.
Speaker 4 (32:51):
And and biotech about General Partners, Yeah.
Speaker 9 (32:55):
So from you know, from our alternatives investments. I mean,
that's a great place to be in New York.
Speaker 2 (33:00):
What portion of the portfolio is media then?
Speaker 9 (33:02):
So media, It's hard to quantify, but I would say
it's under ten percent. Oh interesting, Okay, I mean we've
made big bets, but you know they're relatively well. When
Worldwide is your core holding, I've probably I probably overstated
the media play.
Speaker 2 (33:17):
So Worldwide is still is held as part of being.
Speaker 9 (33:22):
It's a twenty plus billion dollar company.
Speaker 2 (33:24):
But that's included in the family office assets. Correct, Okay, yes, great,
a right.
Speaker 4 (33:28):
We are at screen time twenty seconds, So you're sitting
down on the couch, had a long day.
Speaker 5 (33:32):
What do you watch? Well? Quickly, I like a lot.
Speaker 9 (33:37):
Of stuff, but I like, for example, Ted Lasso, The
West Wing. You know, to give a couple that are
all time favorites.
Speaker 5 (33:43):
West Wing an old series. My daughter just recently discovery.
Speaker 2 (33:47):
Everybody's rewatching it too, and they have been for years.
Speaker 5 (33:50):
I love it. Well, there's a lot of places that
you find all that stuff you used to watch. Edward,
Thank you so much, really appreciate it.
Speaker 9 (33:56):
Thanks for hosting.
Speaker 5 (33:56):
Thanks for having me, Yeah, great to have you.
Speaker 4 (33:58):
Edward Hamadi, chief Investment Officer of the Stue Trust, President Polarity,
joining us here at Bloomberg screen Time.
Speaker 1 (34:03):
This is the Bloomberg Business Weekdaily podcast, available on Apple, Spotify,
and anywhere else you get your podcasts. Listen live weekday
afternoons from two to five pm Eastern on Bloomberg dot com,
the iHeartRadio app, tune In, and the Bloomberg Business App.
You can also watch us live every weekday on YouTube
(34:24):
and always on the Bloomberg terminal
Bloomberg Audio Studios, Podcasts, radio News. This is Bloomberg business
Week Daily reporting from the magazine that helps global leaders
stay ahead with insight on the people, companies, and trends
shaping today's complex economy, plus global business, finance and tech
(00:23):
news as it happens. The Bloomberg Business Week Daily Podcast
with Carol Masser and Tim Stenebeck on Bloomberg Radio.
Speaker 2 (00:32):
Billionaire Jared Isacman is set to be in talks with
Trump over that top NASA job. You might remember he
was nominated to be the head of NASA, but that
nomination was pulled ed. Ludlow from Bloomberg Tech has the
exclusive He joins us on site here at a Bloomberg
screen time. This was really surprising to me. It was
a surprise.
Speaker 3 (00:49):
What we know from sources is that Jared Eisigman in
recent weeks has been meeting with the President and other
government officials, and that the discussion has centered around and
a pathway for Jared Isaacman to be renominated to lead NASA.
You'll remember he had been nominated, but the administration canceled
(01:11):
or terminated that nomination in May. At the time, the
President and the White House talked about how it was historic,
how it was his historic ties to the Democratic Party
that were behind it. But you'll remember we reported quite
deeply that actually it had something to do with Jared's
association with Elon Musk at a time where Musk had
(01:32):
a fractious relationship with the White House. So this is ongoing,
you know, we know from a White House official. The
President's made no decision, he's thinking about it. It could change,
but they are talking, and my understanding is they'll continue
to talk.
Speaker 4 (01:45):
Before we got going, I think we were all thinking, wait,
is this also, though, something big or broader in that
Elon repairing his relationship with the White House? Or is
this Jared repairing whatever went on before?
Speaker 3 (01:55):
Do you guys remember him on the show a few
weeks ago when the President hosted that dinner with different
technolology CEOs, Jerediacman was present, and Tim, you asked me,
was Isaacman who was there as Elon Musk's proxy as
had been reported in some of the media. Apparently somebody
there was there on Elon's path. My understanding is no,
Jerediseman was not there at that dinner as Elon Musk proxy.
(02:17):
He was there of his own accord. For whatever reason,
the President invited him. But this is very recent. What's
happening right now, the meetings between Jeredisigman and the President
of the United States, they're ongoing. He's meeting with other
government officials and right now Sean Duffy, the Transport Sect
is a temporary leader of NASA. But at the time
when the nomination was canceled, like loads of people across
(02:39):
industry and government, you know, held Jaredizacman in very high
regard as somebody very qualified to lead the agency.
Speaker 2 (02:46):
Well, let's talk a little about that, because there has
been criticism, oftentimes coming from the Democratic Party about many
of the President's picks for his cabinet. People who beat
Democrats and argue. Also, people sometimes in positions of science
or academia argue are not appropriate picks. It wasn't so
with Jared isaac Man.
Speaker 3 (03:08):
You know, I don't cover politics, I don't cover the
White House. I know that I try my best to
break these stories. But the thing about Jaredisacman is that
he was a private citizen astronaut. Right He'd been to
space more than once in projects with SpaceX that he'd
funded himself. In the nomination process. For the initial nomination,
he had recused himself of his ties to SpaceX and
(03:30):
sold out of any financial conflicts, as is normal in
that case. But people basically said, he gets the technology,
he knows the players in industry. He is not a
legacy politician. He is a successful entrepreneur. That was the
direction that the space industry was going. There was some
debate about what is Jaredisacmun's philosophy aligned with the presidents
(03:52):
and NASA's in that are we going to the moon
or are we going to Mars as Elamus wants to,
But basically he was seen as highly competent.
Speaker 2 (03:59):
That's the point.
Speaker 4 (04:00):
Yeah, it's interesting, and it's an idea of it. Is
this the right person for the job? And if it
sounds like that, it could potentially go back to that. Hey,
just before you go, we're here at screen time, you're
going to be you're doing a discussion here.
Speaker 5 (04:12):
Tell us that kind of your impressions.
Speaker 3 (04:14):
Yeah, I think right now, there's a lot of movement
in this industry. So I expected to come and talk
just about AI. Actually I think we look a lot
deeper at the economics of media and entertainment that's what
I get from the Ellison conversations. Just happened. My panel
selfishly is with the Twitch CEO Dan Clancy and then Pokemaine,
one of the most followed streamers on the planet, and
(04:35):
she's so interesting because she's making a lot of money
in a lot of different ways by going live on
Twitch but also posting to Instagram and YouTube. And you know,
the economics of being a content creator are like fascinating.
Isn't that the point of screen time? Like learning about
the money behind all the things that keep us glued
to the screen.
Speaker 4 (04:53):
Yes, yes, Look how many screens do we have here
right now? Ed Ludlow, congratulations the Bloomberg Exclusive. Highly recommend
everybody check out the full right through. It's on the
Bloomberg and at Bloomberg dot Com, at Ludlow co host
of b Tech right here Boberg TV.
Speaker 5 (05:07):
Ed, thank you so much.
Speaker 2 (05:08):
Stay with us. More from Bloomberg Business Week Daily coming
up after this.
Speaker 1 (05:15):
You're listening to the Bloomberg Business Week Daily Podcast. Catch
us live weekday afternoons from two to five eastering. Listen
on Applecarplay and Android Auto with the Bloomberg Business app,
or watch us live on YouTube.
Speaker 5 (05:30):
Let's get to it with. This is Samira Baktir.
Speaker 4 (05:34):
She is General manager of Media, Entertainment, Games and Sports
Industry at AWS Amazon Web Services. You know, we think
of AWS and we think about Amazon as a hyperscaler
that a cloud and stuff, but there is so much
more and getting to know what you do. I mean,
you're constantly talking with folks in gaming, sports video, They're
trying to engage with the consumer ups all different levels.
Speaker 6 (05:54):
Yeah, there's so much happening, and I appreciate you laying
out those stats and then also watching that presentation on
an AB I very much appreciate that. I think let
me start with fundamentally, the cloud has become the backbone
of media distribution globally. Without the cloud, it would be
impossible for consumers to gain access to streaming services.
Speaker 5 (06:11):
You're streaming this right now as an example.
Speaker 6 (06:13):
These types of services become fundamental for global reach.
Speaker 5 (06:16):
The cloud also is critical relative.
Speaker 6 (06:19):
To content creation as well as the ability to create
different types of audience engagement motions that can be monetized
by organizations around the world. And so to those stats
that you just described. At a to BS, we have
the privilege of working with everyone from content creative studios
to global streamers, to broadcasters, to game developers and game distributors,
(06:40):
and it's been an honor to be able to work
with them across this motion. One of the things I'm
most proud of is that over a billion people right
now are receiving their streaming content based off of the
a WS services that we provide.
Speaker 5 (06:51):
It's a lot.
Speaker 6 (06:51):
And to your point about games, seven hundred and fifty
million people are playing games every single month based off
of those same services. And we're not just talking about
Triple A games like Fortnite, but casual gaming as well,
like Candy Crush or Wordle from the New York Times.
Speaker 5 (07:05):
By the way, again, all great a to BS customers.
I play Wordle.
Speaker 2 (07:08):
It's you do play wordle. I know that about you. Yes,
you have a tech string of like people you compare
wordlescores with, right, including many of your siblings. Yes, indeed,
it's this I know about you, Carol. I want to
talk a little bit about some big customers. Netflix, for example,
is a huge customer. When you when you look at
areas of growth across aws, and you know kind of
(07:29):
overlay that with consumer behavior. Where is the biggest area
of growth right now in terms of what people are demanding.
Speaker 5 (07:35):
Yeah, So two things.
Speaker 6 (07:36):
One is, I thought great Peters did a wonderful job
last night during the Bloomberg screen Time presentation. I really
loved how we talked about Netflix being a build versus
by culture.
Speaker 2 (07:45):
Yeah, he's co CEO of Netflix. For anyone who.
Speaker 5 (07:47):
Missing, yeah, thank you.
Speaker 6 (07:48):
And so it's very important that we ground ourselves on
that too, because at a to BS, we want to
be able to provide the building blocks or the primitives
to allow for anyone to be able to build anything
that they could imagine. And Netflix has really leaned into
that very technical organization. We're delighted to be able to
partner with them for so many years. And then to
your second question about like what are we seeing Fundamentally,
I'm hearing three things from customers all around the world
(08:10):
that they want. The first is they want to be
able to create more content, high fidelity content, at a
lower price point, much faster than ever before. And this
includes live content like the ones you're watching right now,
to episodic content, to theatrical content, to animated content, you
name it. They want to do it faster, cheaper, and better.
The second is that they want to really cultivate multi
channel monetization opportunities. So this means being able to go
(08:32):
beyond and add impression, but really look at being able
to monetize against a three hundred and sixty degree perspective
of how their IP shows up across different mediums. And
then finally, everyone's hyper focused on next generation of fan engagement.
How can you really enhance the experience so that you
don't just retain subscribers, right, but you have people coming
back for more and more. And I think the through
(08:54):
line underneath all of that is the availability of generative
AI and what that can help do to help to
really augment our capabilities and accelerate innovation, but then also
just make us so much more productive.
Speaker 4 (09:07):
One of the things I thought, because I've thought about
your world and all the things, whether it's media, entertainment,
game sports, which thing is kind of driving demand at AWS,
I'm just curious because we keep hearing so much about gaming,
everyone getting into gaming.
Speaker 2 (09:21):
We're going to talk a lot about gaming over the
next three hours in our program. It's a big theme here.
Speaker 6 (09:25):
Well, look, we again, we have customers across all of
those industries. Let's start with what's going on in the industry.
PwC released a study recently saying that by twenty twenty nine,
the entertainment industry is going to be worth three point
five trillion dollars. That's up from two point nine trillion
last year. It's like an ad of six hundred billion dollars.
It's a look worth of opportunity out there. And I
(09:46):
think that if you work backwards again from those generational
preferences that we're seeing, like you talked about Genalpha, gen
Z's propensity for games, for social for user generated content,
for music, for audio, this really signals to more traditional
established entertainment brands that it's no longer sufficient for them
to be good at one type of medium anymore.
Speaker 5 (10:04):
They really need to diversify.
Speaker 6 (10:06):
They need to create much more interactive and immersive experiences.
Speaker 5 (10:08):
And so we're seeing this convergence of.
Speaker 6 (10:10):
The tech come together to be able to allow for
new product propositions to come to market faster than ever before.
And one of the things that I'm very interested in
is what that type of pressure is going to do
amongst startups versus that more established legacy brand And now
you had mentioned gaming. I think that some of the
(10:31):
incredible convergence that we're seeing across game tech.
Speaker 5 (10:33):
If you look at what Epic did last.
Speaker 6 (10:35):
Year with Fortnite and the concert that they had to
Snoop Dogg, and you had Snoop Dogg on this program
last year, but they did an incredible job. They did
a live concert Snoop Dogg was there, it was in
the game. They were able to attract millions in game,
millions more across the digital platforms, and they had thousands
show up in Times Square. But then Roadblocks is also
doing this some thing, and I was just upstairs with
Unis from Scope.
Speaker 2 (10:54):
Ye she's a little later.
Speaker 5 (10:56):
Yeah, oh Tillarry say hi made aws customer.
Speaker 6 (10:58):
But you look at what they've been doing with Pokemon Go,
that again speaks to that conversions because you want to
meet consumers wherever they are, across all all demographics.
Speaker 4 (11:06):
So just to follow up, then, so is it gaming
where you see the most growth where you mean, like
traditional media if you will, that's where they want to
go or is it all of it? You know, we
mentioned sports has also been an expression. You guys have
done a lot with f one. So I'm just trying
to bea is it all growing kind of at the
same levels, or is it one thing sports over gaming
or something that's absolutely leading the way.
Speaker 6 (11:26):
So I think the question comes down to, like where
is the engagement the best. Definitely, live sports has an
engagement factor that's unlike other types of traditional mediums. Again,
that's why we work really closely with Formula one, the
PGA to our the NBA. Actually, just last week we
announced a strategic relationship with the NBA where now their
official cloud and cloud AA partner because we're going to
(11:47):
be able to launch something called MBA inside the game
powered by a TOWS where we're going to be able
to create a platform to ingust billions of data points
from these games in order to create a more interactive
and insightful gaming sports viewing experience. It's like, really get
you behind the game. So that's one element of it,
But then I think you also can extend it too
to the engagement that occurs across again traditional gaming, but
(12:09):
then there's also betting and gaming as well.
Speaker 2 (12:11):
Yeah, So to follow up on that on the live
sports part of this, Early in my career, I remember
covering the Yahoo NFL game that was broadcast. This was
hard to believe ten years ago at this point, and
there was so much attention on this because it was
like the first streamed NFL game a tech company was doing.
Right now, this is table stakes, absolutely, especially when it
comes to AWS. What goes into producing something live versus
(12:35):
delivering content that's already recorded. Is it much more processing?
Is it much more pressure? What is it?
Speaker 5 (12:42):
Yeah?
Speaker 6 (12:42):
How much how technical can I get here?
Speaker 2 (12:45):
Technical?
Speaker 5 (12:45):
I was also going to say, like, what takes there's
a whole bunch.
Speaker 4 (12:49):
Of people behind here, what it takes to put this
together live?
Speaker 5 (12:51):
And it's It's true, and we are.
Speaker 2 (12:53):
Wearing these like the football announcers.
Speaker 6 (12:55):
I know, I actually feel like we're commentating a live
event here on. So look, a lot a lot goes
into it, right, So I think fundamentally there's elements that
are similar, right with like the distribution of the technology,
especially associated to streaming, But there's quite a bit that
goes into the production of content. You need to be
able to ingest live feeds, you need to transcode these feeds,
you need to package those feeds, and all of those
(13:16):
have historically been done through more legacy technology stacks that
have had to reside on prem Actually, just last last month,
we announced the ten year anniversary of our A to
BS Elemental Media Services. These are purpose built services for
broadcast and production, and they allow for us to do
all those things that I just described that have historically
been on prem you could do them in the cloud,
(13:37):
and customers.
Speaker 5 (13:37):
Are adopting them at scale.
Speaker 6 (13:38):
We work really closely with customers like Fox, the BBC,
NBC Universal.
Speaker 5 (13:44):
Just a name of feel and.
Speaker 2 (13:45):
What do you say on prem You mean on premise.
It's the idea of actually having this equipment with you
at a certain location versus having it in the cloud.
Speaker 7 (13:52):
Yeah.
Speaker 6 (13:52):
Absolutely, because I think to your point about the transition, well,
why would you want to do that? You would want
to do that because there's sustainability benefits associated to it,
there's cost benefits associated to it.
Speaker 5 (14:00):
And then if you're in a position.
Speaker 6 (14:01):
Where you have to actually roll out less physical infrastructure,
it allows for you to create more.
Speaker 5 (14:06):
Content, more shows.
Speaker 6 (14:07):
What would be preventing you if you had infinite resources
from being able to cover more events like this around
the world simultaneously.
Speaker 5 (14:15):
That's what the cod really provides. I am curious about
the AWS stack business coming out series as we talk.
Speaker 4 (14:23):
About generative AI, large language models. Every industry finance, healthcare,
you name it, that are tapping into it. So we
think about Amazon on that level. But then I'm hearing
about all the stuff that you are doing specifically with
specific clients, and it sounds like that's another in the
pecking order, So talk to us about that stack.
Speaker 6 (14:41):
Yeah, absolutely, So I'm hyper focused on serving the media, entertainment, games,
and sports industry. Everything my team and I do is
really grounded and around taking the AWS services that exist
there's over two hundred that have numerous features and making
sure that we have a subset that are very purpose
built for the needs of entertainment customers. And then we're
also focused on ensuring that we can advance the industry
associated to it. So as an example, we're active participants
(15:03):
in the Society of Motion Picture and Television Engineers. We
actively engage with c TWOPA, which is focused on prominence.
We actively engage with Movie Labs, which is really focused
on this vision by twenty thirty of being able to
create entire pieces of theatrical film in the cloud.
Speaker 5 (15:18):
And we're the only.
Speaker 6 (15:19):
Technology provider that's been able to satisfy five of the
ten different principles that they are aiming toool after, so
I share that with you because I think when you
look at AWS, we are the world's most comprehensive and
most broadly adopted cloud, and we have two hundred services
that can be used to invent almost anything. My job,
my team's job, is really to make sure that we
(15:40):
bring that subject matter expertise to bear, to be able
to ensure that the outcomes that matter most to our
entertainment customers can be realized, and that we're able to
bring the industry along.
Speaker 4 (15:48):
With us a lot. I know we're going to continue
this conversation in the future. Is so great to get
some time.
Speaker 5 (15:53):
Really, thank you.
Speaker 4 (15:53):
It's a pleasure to meet both of you same here,
so appreciate it. Samira back to your She is general
manager of Media, Entertainment, Games and Sports Industry over at
AWS Amazon Web Services.
Speaker 1 (16:03):
You're listening to the Bloomberg Business Week Daily Podcast. Catch
us live weekday afternoons from two to five eastering. Listen
on Applecarplay and Android Auto with the Bloomberg Business app,
or watch us live on YouTube.
Speaker 4 (16:19):
Carol Master Timstandbeck live here at Bloomberg screen Time. We
are in Los Angeles. There are several.
Speaker 5 (16:24):
Names in media entertainment Internet.
Speaker 4 (16:25):
Spaces that you've got to listen to, and that includes
our next guest. Laura Martin, Senior aliset at Niedeman Company,
joins us. She covers media, entertainment, Internet spaces. Usually we
are talking to her remotely, but we came to her home.
Speaker 5 (16:38):
So delighted to have you here with us.
Speaker 4 (16:40):
When you come to an event like this, and I'm
sure you go to a lot of conferences and so
so what is it that you're looking out for? You
know what's great about Bloomberg screen Time is you have
everybody that's important in media, both old media and new media,
which a lot of conferences miss either one silo or
the other, and they are converging and therefore their competitive
statements are relevant to both sides of the business.
Speaker 2 (17:02):
Who's making this convergence the best?
Speaker 4 (17:04):
Amazon? I think Amazon and YouTube. I think if you think.
Speaker 2 (17:07):
About walls is literally because they're both like new media
the first right, they're like, they're not incumbents. Yeah, no,
maybe they could be, but.
Speaker 4 (17:14):
I think sometimes incumbents ignore them, and I think Wall
Street doesn't think that's actually the smartest move.
Speaker 2 (17:19):
There was, interestingly comment in the Jimmy Kimmel conversation last
night about how Jimmy Kimmel looks at YouTube and if
he's changed his show as a result of YouTube, and
he said, I haven't ever changed my show for YouTube,
but I do like to wake up and see that
a few million people have watched it. But he did
say ABC doesn't make money from YouTube. YouTube is the
one who makes the money.
Speaker 8 (17:40):
I don't know.
Speaker 4 (17:40):
I know YouTubers are sailing around the world and they're
making millions of dollars a year, so it sounds like
a good life to me.
Speaker 2 (17:45):
But there's a disintermediation happening right there. So even if
he's getting more eyeballs, he's not seeing the revenue.
Speaker 5 (17:51):
I think the important point here is we have a funnel.
Speaker 4 (17:54):
You need to have young people at the top of
the funnel to create a TV let's call it a habit,
and not to video games or not just interactivity or
not just short form on TikTok. So television has to
have top of the funnel. YouTube does that for you.
So this notion of money now versus money later, you
must have that top of the funnel for young people
to come to longer form, high quality programming, which makes
(18:17):
me think about the interest in Warner Brothers Discovery. On that,
Greg Peters of Netflix said, or he was asked about
it with lukashaff he was interested in Warner Brothers Discovery.
Speaker 5 (18:27):
He talked about it last night. Let's listen to what
he had to say.
Speaker 2 (18:30):
There's been some reports around you guys being interested in
Warner Brothers Discovery. Is there any truth to that?
Speaker 5 (18:36):
I would say this.
Speaker 7 (18:36):
You know, we come from a deep perriage of being
builders rather than buyers. I also think that it's you know,
one should have a reasonal amount of skepticism around big
media mergers. They don't have an amazing track record over
you know, the history of time, So you know, I
would say it's our Also, it's our responsibility to evaluate
(18:57):
all our options in front.
Speaker 2 (18:59):
So you'll look, you'll have a conversation that the odds
of an offer are pretty low.
Speaker 4 (19:03):
Yeah.
Speaker 7 (19:03):
Our job is to figure out, like what's the best
way to grow our business, right, and we have to think,
you know, really carefully, like how do we invest our capital,
our time and our attention. And if that's the best
way to do it, great, and if it's not, then
we should do something else.
Speaker 5 (19:18):
All right.
Speaker 4 (19:19):
That, of course, Greg Peter's over at Netflix talking with
Lukashaw last night Warner Brothers, and then there's also David
Ellison that there's been talk that maybe he'll be interested.
Is that a good I don't know. Is that a
good bix of businesses Warner Brothers. Is that about going
after the younger consumer?
Speaker 5 (19:35):
No, it's not.
Speaker 4 (19:36):
But I would say this that Netflix continues to try
to create IP from scratch, and as we know from
the sequalization of the Box Office, creating how me starting
with an embedded fandom from thirty years ago, fifty years
ago and then holding on because it creates value in
your old stuff when you create something with that IP
and the new like current.
Speaker 2 (19:55):
Like a happy Gilmore too.
Speaker 4 (19:56):
Yeah like that And if so, I ultimately think he
can a non answer.
Speaker 5 (20:00):
He gave a very thoughtful non answer. Does that mean
that maybe they are interested?
Speaker 4 (20:05):
I think ultimately they must buy established IP because it
is so risky, not necessarily Warner Brothers, but they must
buy IP that they have library value that they can
then make new and own it.
Speaker 2 (20:17):
I did not get that from his answer. I love
that you're saying this. My response to hearing that was okay.
He says their builders, not buyers. They haven't traditionally made
big acquisitions, and.
Speaker 4 (20:26):
They said they never do live sports, and they said
they'd never do advertising. So like non answer, so outright denial,
maybe he'd be more likely to buy to be outright denied.
Speaker 2 (20:35):
Should they buy?
Speaker 4 (20:37):
You know, good question. They need something with deep IP.
These fifty year old libraries are far and few between.
They didn't buy Paramount, which would have been also a
very big deep library, and it would have been a
quarters expensive.
Speaker 5 (20:48):
So we'll have to see.
Speaker 4 (20:50):
But in the end, I do believe Netflix must own
deep IP and stop just taking the risk that you're
creating something from scratch because maybe it's cheaper. All right,
So let's go to David Ellison Sky Dance Paramount, who
also was asked about there's been rumors about that they
are getting ready to make a bit of Warner Brothers.
Speaker 5 (21:07):
What do you think about that combination?
Speaker 4 (21:09):
Well, I think the thing about David Allison so far
is he has been really quiet with Wall Street about
what these individual tactical moves he's making, how they fit together.
So he overpaid for UFC outbitting Netflix seven billion a
year Ian billion dollars a year for seven years, wasted money.
I think he wasted a billion dollars, mostly of his money,
but public shareholder money. And now he just bought the
(21:30):
Free Press for one hundred and fifty million. I would
think it was worth twenty So it destroyed one hundred
million in the scheme of life, not destroying billions, but
totally unclear how they fit together or what the vision is,
you know, So the idea of him buying Warner Brothers, like,
if he isn't articulating a vision, I don't know why
public shareholders are paying part of the bill.
Speaker 5 (21:47):
So he's not doing a good job. He's not doing
a good job.
Speaker 2 (21:51):
Why do you think the Free Press was not a goodbye?
Speaker 5 (21:53):
I think he overpaid.
Speaker 4 (21:54):
I think Wall Street hates like I think it's unclear
you can monetize podcasts, and I think we hate everything
that is like doesn't have a clearer revenue stream was
associated with it.
Speaker 2 (22:05):
He argues that, and he said this during the conversation
with Lucas earlier, that he wants to appeal to the
seventy percent of people who identify as right of center
and left of center. That's who he wants to bring in.
And he thinks that Barry Weiss can help do that,
do you agree?
Speaker 4 (22:20):
Well, I mean looking into her pro I mean we'll
see today because she just showed up in the CBS boardroom.
But she's I would say, a highly polarized figure. So
we'll see how she does and how long she lasts
not too.
Speaker 2 (22:31):
Do you think the news business is long for being
at CBS? Think? Do they keep it? Yeah?
Speaker 5 (22:38):
Yeah, I think they keep it. I think they need.
Speaker 4 (22:40):
You need live programming, and live programming to sports, which
is really expensive in news, which isn't quite as expensive,
and really smart people that have a point of view.
They get paid to have a point of view, and
they're deep thinkers.
Speaker 5 (22:50):
So we'll see. I mean, he's trying to make up.
Speaker 4 (22:52):
He's doing tactical things without communicating an overall vision, and
I don't know what that means. Like I understand Kneese audiences.
I understand if you want to target conservatives or if
you want to target liberals. It's a polarized political environment.
How do you target both? Like that doesn't actually feel
like a target market. It feels like a mass market.
But that is what CBS did before. And it sounds
(23:12):
like he thinks he's doing something different. So I'm confused, Lord,
does what is going on at CBS and Skydance and
Paramount does that impact the owners of I think about
the traditional networks of NBC and ABC, like, how does
that what they that deal impact the rest of the
media space.
Speaker 5 (23:28):
So do you know you don't because you don't sound
like you respect what he's doing.
Speaker 2 (23:32):
Yeah.
Speaker 4 (23:32):
No, I don't think he's done good work yet, or
at least he hasn't communicated. I mean, there is a
communication function when you're a public company that he is.
I'd give him a B minus doing but and he
says he likes being public.
Speaker 5 (23:43):
Yeah, I don't know what that means. But okay, good good.
Speaker 4 (23:46):
We're paying part of the bill. The public shareholders are
paying part of his bill, so I guess he should.
I would say, look, we just wrote a piece saying
that ABC, which is Disney, should just shut down ABC
because then they become unregulated and the FCC on the
Kimmel thing is involved in free speech.
Speaker 5 (24:01):
So if Disney just shut it down, we think it's
so ten.
Speaker 4 (24:03):
Billion dollar right off one time only and now they
would be unregulated.
Speaker 2 (24:08):
Yay.
Speaker 4 (24:08):
It seems like a lot of you know, Wall Street
went out of it back. It's a one time right off.
We think they should just shut it down.
Speaker 2 (24:13):
For Wall Street. Maybe not so good for.
Speaker 4 (24:15):
The voices competition to be bad for a lot of
things in DC. But I could say the same thing
about CBS, Like now, I think, you know, Larry Ellison
has a I mean Larry the dad has a privileged
position with Donald Trump, so no need for him. I mean,
Brendan Carr is not going to get in his way
because of the friendship with the President, and the FCC
is an executive branch regulatory agency, so he doesn't need
(24:38):
to shut it down. But I think broadcasters are irrelevant today.
Speaker 5 (24:42):
Not us though, no, not you be careful.
Speaker 2 (24:45):
We like you.
Speaker 4 (24:46):
Laura Martin, senior analyst at Nita Ban Company, joining us
here at Bloomberg screen Time.
Speaker 2 (24:51):
Do not go anywhere, Stay with us. More from Bloomberg
Business Week Daily coming up after this.
Speaker 8 (25:01):
This is the Bloomberg Business Week Daily Podcast. Listen live
each weekday starting at two pm Eastern on Apple Car
Playing and the Android Auto with the Bloomberg Business App.
You can also listen live on Amazon Alexa from our
flagship New York station, just Say Alexa played Bloomberg eleven thirty.
Speaker 4 (25:20):
So we are speaking to the moguls. We're talking to
the content creators, celebrities, entrepreneurs during the next, you know,
phase of pop culture. These are the drivers, tim they
are doing it all. Having said that, all of this
requires a lot of money capital, and that's where Edward
Hamadi comes in. He's chief investment officer of the Steward Trust,
which is the family office of the Stewart family. The
(25:40):
president of the entertainment company Polarity, also involved with Lion
Forge Entertainment. It's an Academy Award winning Black owned animation
and live action studio. He wears a lot of hats,
which is why we are really delighted to have him
here on set with us.
Speaker 2 (25:54):
Welcome to screen time and good to see you. You
just wrapped up a conversation where you were talking all
about I have an investment flowing into different parts of entertainment.
I mean we're talking sports media ventures. Perhaps a bigger
example of this in recent weeks than the take private
deal of EA fifty five billion dollars. What does a
deal like that signify to you, Well, it takes a
(26:16):
big deal.
Speaker 9 (26:16):
First of all, a lot of capital concentration, is how
I would look at it. But it you know, overall
that space has a lot of momentum right now, a
lot of capital velocity. But that's a that's a big,
significant valuation.
Speaker 2 (26:31):
I think that's fair to say, too high of evaluation.
Speaker 9 (26:35):
I couldn't comment. I couldn't comment. I haven't seen the deal.
Speaker 4 (26:39):
What about valuations in general when it comes to media
and entertainment right now, I mean there's a lot of
stuff slashing around. We're seeing consolidation, Folks who want exposure
to certain things, Folks who want to get rid of
exposure to certain.
Speaker 5 (26:50):
Things talk to us through that.
Speaker 9 (26:52):
So what I would say is that we are seeing
I'll call them interesting, but some things are overvalued in
my opinion. I mean, if you look at sports right now,
the valuations are sky high and it's crushing the who
can be buyers, you know, and that's why they've opened
that up to private equity. Yeah, i'd say on the
media side, it's interesting. And why do I use that
(27:16):
Because it depends on what the formula of the IP is.
So there's some things that have big audiences where you
can quantify it pretty nicely and say, look, this has
real potential. There are other things that have become sort
of legacy, you know, stagnant properties. And then you wonder,
does this thing what kind of juice does it really have?
Do you have the team that can come in and
(27:37):
buy it and give it some new life. So it's
going to depend on what the nature of it is.
And then obviously, you know, we had David Ellison speaking
and he's been pretty bold in what they're going to
do in their space. And there's some really compelling eypeople
A's there and big names that have been around for
a while.
Speaker 5 (27:55):
What do we need to know?
Speaker 4 (27:55):
I always think about tim and I always think about
the Boomberg audience, investors, you know, the changing the disruptors.
David Allison is a disruptor when it comes to media.
What are the what are the focal points that he's
doing that you think investors should be taking note of.
Speaker 9 (28:09):
I think the first, the the tech first component is
a big deal. I think that there was room for
a lot of new efficiency, especially when you're building in streaming.
It's a it's a platform and all the things he described.
It was key for some consolidation having too many streaming platforms.
That's smart. Also, you know, just having the oracle backbone
(28:32):
makes too much sense for them. So that's a big
synergy that they can bring to the table and the
things they're doing from a content acquisition perspective. You know,
he talked a lot about the intersection of sports. Anything
you can do to bring sports to streaming is like
the holy grail. And you know UFC is an annual,
year round event, whereas most sports have seasons. So he
(28:54):
is one hundred percent correct to do that.
Speaker 2 (28:56):
As I mentioned one of the hats you do, where
is your CIO of the Steward US And I'm wondering
what your investment strategy is there with regard to media.
Is it you also have DNA and private equity, So
is it like a private equity approach where you buy it,
then you improve operations and hopefully sell it for more
or is it a permanent capital where you're like just
(29:17):
buying and holding and you're taking those cash flows.
Speaker 9 (29:19):
So we've done in building our companies, we look at
it with a little bit more patient approach. We're obviously
not going to never say oh, we won't sell this,
but fundamentally, this is a family of entrepreneurs who want
to build interesting platforms. So our companies like line Forge
and only Press are on upwards trajectories. We've brought in
(29:40):
some outside capital in the case of lin Forge, to
have more smart money at the table, but fundamentally we
want to you know, line Forge's quietly stated admission is
to be the next DreamWorks and so kids and family
is a big opportunity. Would also look at where we
can do intersections with sports, because we think that has
brought appeal as well IP and doing things like shows
(30:02):
and movies.
Speaker 2 (30:02):
What do you mean by that? What's the opportunity Because
you know, if you look at.
Speaker 9 (30:08):
Let's pick a sport, if you look right now, there's
a lot of opportunity in women's sports. You don't necessarily
have to own the sports league. Why don't you make
shows where you have rights to do things like cover
the lives of the athletes. We're seeing it Wrexham for example,
great show. It's doing really well and it's rounding out
(30:28):
how people view that well. If you want to access
women's sports, for example, I think there's a more robust
story to tell telling stories about young girls playing volleyball
and how do they get prepared. There's a huge audience sports.
I'll use volleyball as the example, thirty seven million people
are the audience of women's volleyball under eighteen, between their families,
(30:49):
the women who participate, etc. And the people want to
watch it. There should be some great stories there to
tell about that.
Speaker 4 (30:56):
Okayse in women are pretty spectacular, so I'm just going
to put it out there so not.
Speaker 5 (31:00):
Do more stuff.
Speaker 9 (31:01):
Again, very entertaining, and it's it's just an area that
hasn't been focused on. You know. We always talk about
the big sports, yeah, which are robust, high valuations, et cetera.
But there's these all these other things that are coming up,
and then you have, oh, by the way, you know,
every four years you have the Olympics, which is like
the culmination of whatever things you do. So there's a
great thing you can do to really build around those things.
Speaker 3 (31:24):
You know.
Speaker 5 (31:24):
It's interesting.
Speaker 4 (31:24):
I think we thought for a while, because there were
so many streaming services and so many different platforms, that
it was the era of the content creator. Is it
still the era of the content creator versus those who
deliver it?
Speaker 2 (31:35):
Yes?
Speaker 9 (31:36):
I think that what has happened is now you look
at things like YouTube, you look at things like micro dramas,
you look at you know, podcasts and all the sorts
of things. You have an ability now and different platforms
to create an audience around something new. So we have
a show that we're going to make the full series of.
Speaker 5 (31:55):
It is for.
Speaker 9 (31:56):
Young adults called Lost Links. It was on YouTube. The
audience loved it, these these little episodes, you know, one
in five minute episodes. But you have two three million
followers who are now clamoring to see a full series
around such a concept. That is an that's a denovo
new thing that people want to see.
Speaker 2 (32:17):
You are not based in Hollywood, No, you were based
in Boston. You're a California and yeah you're yeah, you're
in Boston. Advantage disadvantage, Well, I think so.
Speaker 9 (32:26):
First of all, my you know, because I work in
the family office, I can exist. If I have a
laptop and a cell phone, I can be anywhere and
do a lot. And and you know the Stewart's joke
that I'm like Bosley, you know, I just sometimes I
call in and make stuff happen. But being in Boston,
you know, we have a lot of GPS that we've
invested in and that you know, it's it's a great
(32:49):
market to be in. It's number one in healthcare.
Speaker 4 (32:51):
And and biotech about General Partners, Yeah.
Speaker 9 (32:55):
So from you know, from our alternatives investments. I mean,
that's a great place to be in New York.
Speaker 2 (33:00):
What portion of the portfolio is media then?
Speaker 9 (33:02):
So media, It's hard to quantify, but I would say
it's under ten percent. Oh interesting, Okay, I mean we've
made big bets, but you know they're relatively well. When
Worldwide is your core holding, I've probably I probably overstated
the media play.
Speaker 2 (33:17):
So Worldwide is still is held as part of being.
Speaker 9 (33:22):
It's a twenty plus billion dollar company.
Speaker 2 (33:24):
But that's included in the family office assets. Correct, Okay, yes, great,
a right.
Speaker 4 (33:28):
We are at screen time twenty seconds, So you're sitting
down on the couch, had a long day.
Speaker 5 (33:32):
What do you watch? Well? Quickly, I like a lot.
Speaker 9 (33:37):
Of stuff, but I like, for example, Ted Lasso, The
West Wing. You know, to give a couple that are
all time favorites.
Speaker 5 (33:43):
West Wing an old series. My daughter just recently discovery.
Speaker 2 (33:47):
Everybody's rewatching it too, and they have been for years.
Speaker 5 (33:50):
I love it. Well, there's a lot of places that
you find all that stuff you used to watch. Edward,
Thank you so much, really appreciate it.
Speaker 9 (33:56):
Thanks for hosting.
Speaker 5 (33:56):
Thanks for having me, Yeah, great to have you.
Speaker 4 (33:58):
Edward Hamadi, chief Investment Officer of the Stue Trust, President Polarity,
joining us here at Bloomberg screen Time.
Speaker 1 (34:03):
This is the Bloomberg Business Weekdaily podcast, available on Apple, Spotify,
and anywhere else you get your podcasts. Listen live weekday
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Hosts And Creators
Tim Stenovec
Carol Massar
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