January 6, 2025 • 43 mins
Bloomberg's Caroline Hyde looks at what we can expect from CES 2025 ahead of the expo's debut. And, shares of Fubo soar as the company joins Disney's Hulu + Live TV. Plus, TikTok faces more scrutiny as the social media company comes under allegations of facilitating the "grooming" of minors.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
From the heart of where innovation, money and power collide
in Silicon Valley and beyond. This is Bloomberg Technology with
Caroline Hyde.
Speaker 2 (00:12):
And Ed Ludlow live from New York. This is Blomberg Technology.
Coming up.
Speaker 3 (00:29):
CEES kicks off in Las Vegas today with a keynote
speech from Nvidia.
Speaker 2 (00:34):
We'll have the latest on what to expect.
Speaker 3 (00:35):
Plus, Disney and Fubo TV agreed to combine their online
TV businesses live TV, creating the second biggest digital PATV
provider and sending Fubo shares soaring and a lawsuit a
ledgers TikTok's video livestreams facilitated the exploitation and.
Speaker 2 (00:50):
Grooming of miners. Details later this hour.
Speaker 3 (00:54):
First, we have some breaking news regarding the Federal Reserve.
Bar Michael Barr is going to be stepping down as
FED Vice Chair for Supervision, a key move that we
want to bring in one Michael McKee here because, by
I said, the risk of a dispute over the position
could be a distraction. New administration in the White House
means new change leadership in the FED.
Speaker 4 (01:12):
Yeah, new regulatory era in the AT four banks and
other institutions. Because of course the trumpet incoming Trump administration
is going to be very much less so, so Michael
Barr is stepping down February twenty eighth and he will
serve until a successor comes.
Speaker 2 (01:30):
There are other resignations we need to pay attention to.
Speaker 3 (01:33):
Michael Meeky, Thank you, Canadian Prime Minister trust and Trudeau
speaking in Ottawa.
Speaker 2 (01:37):
Let's listen in.
Speaker 5 (01:39):
To strengthen and grow the middle class. Why we rallied
to support each other through the pandemic, to advance reconciliation,
to defend free trade on this continent, to stand strong
with Ukraine and our democracy, and to fight climate change
and get our economy ready for the future. We are
(02:01):
at a critical moment in the world. Canadia a shaq
matti mus and tomi minestra, a spire para resilience, generosity,
character is sibia. On to Canadia siskim and motif a
(02:23):
shak jou privilege, the survey, the post, the piedo, milkns
chmus batsu, pusila, class man. Some mobilize on to Canadian
for soutnir lison, a pandemic, fire, progress, reconcilia. They found liberation.
(02:51):
Not in the Lucraine. The democracy h in plutic I
prepari now Traversonalmond. My friends, is you all know I'm
(03:15):
a fighter. Every bone in my body has always told
me to fight because I care deeply about Canadians. I
care deeply about this country, and I will always be
motivated by what is in the best interest of Canadians.
And the fact is, despite best efforts to work through it,
(03:38):
Parliament has been paralyzed for months after what has been
the longest session of a minority parliament in Canadian history.
That's why this morning I advise the Governor General that
we need a new session of Parliament. She has granted
this request and the House will now be prorogued until
(04:01):
March twenty fourth. Over the holidays, I've also had a
chance to reflect and have had long talks with my
family about our future. Throughout the course of my career,
any success I have personally achieved has been because of
their support and with their encouragement. So last night over dinner,
(04:25):
I told my kids about the decision that I'm sharing
with you today. I intend to resign as party leader
as Prime Minister after the party selects its next leader
through a robust nationwide competitive process. Last night I asked
(04:46):
the President of the Liberal Party to begin that process.
This country deserves a real choice in the next election,
and it has become clear to me that if I'm
having to fight in in all battles, I cannot be
the best option in that election. Michel Settee come Vucevi starfighter.
Speaker 3 (05:16):
Justin Trudeau there the Prime Minister of Canada, of course,
now handing in his resignation as the leader of his party.
There is an official suspension of parliament now in Canada
until March the twenty fourth.
Speaker 2 (05:30):
We will return to all of.
Speaker 3 (05:32):
The moves when it comes to politics in Canada. But
the announcement there that Canada will perode parliament until March
to twenty fourth, and indeed Trudeau's Canada Parliament will be
suspended and he announces his resignation after nine years in power.
He says he'll stay as Prime Minister until a new
Liberal leader is chosen.
Speaker 2 (05:52):
His resignation announcement not the only one. This time.
Speaker 3 (05:55):
We returned to Michael McKee and the Federal Reserve because
Michael Barrs.
Speaker 2 (05:59):
Stepped down as FED Vice chair for Supervision. But he's
not resigning from the Federal Reserve. Just this Vice chair position.
Speaker 4 (06:07):
Yeah, which makes a very interesting situation for the FED
because there is no opening on the FED Board of
Governors until January of twenty twenty six, when Ariona Cougler's
term expires, and it's basically been thought she won't be replaced.
But the incoming president won't have the opportunity to pick
a different new vice chair for regulation. He could only
(06:29):
pick from those who are on the board now. The
best guess is that if you were going to choose
somebody from that board, it would be Mickey Bowman, because
she's been the sort of community bank representative, she's been
a banking official. She is a Republican, so she fits
some of the characteristics that the president would want. But
does Donald Trump want Mickey Bowman as vice chair or
(06:51):
is he going to leave the position vacant for right now?
And the other key thing about this is the FED
says it will take no new actions for bank regulation
until his successor is confirmed, and that would seem to
indicate that Basil three, the endgame proposal that has been
sort of the big focus on Wall Street is if
(07:11):
not dead on life support.
Speaker 2 (07:13):
At this point, we'll get to some of the stock
reactions on the banks.
Speaker 3 (07:16):
But is that going to be the big market move really,
that's going to be what's digested here.
Speaker 4 (07:20):
Yeah, the Fed was supposed to re announce in January
or February their latest BUZZL three work up, because they
pulled it back to do some revisions, and now apparently
that's not going to happen.
Speaker 2 (07:33):
We keep an eye on what's happening in the markets.
Speaker 3 (07:35):
Yields till about three basis points to the higher side.
That more based on tariff perceptions and whether or not
they're going to be pulled back or indeed put in
force as Trump had discussed before. We'll get to that
a little bit later, but for now you'll see two
year yields on the downside, thirty eight yields have been
inching higher up four basis points. And we're keeping a
close eye on the bank stocks and the back of
Michael Barr's resignation as the vice chair of the FED
(08:00):
when it comes to supervision, Michael mckeey, thank him. Let's
get back to the tech markets for a moment as well,
because that we're at record highs on certain names Nasdaq
app or another one point seven percent on the NAZAK
one hundred, the big benchmark, what drives us higher.
Speaker 2 (08:13):
The points being pushed higher by one.
Speaker 3 (08:16):
In video, we are at a new record high for
in video at the moment, we want to go to
some other key market moves of the day. Fubo TV
extraordinary move for this particular company, as we once again
see the beginning of twenty twenty five kickoff to an
m and a frenzy and consolidation within media. This is
all about how you're going to be consuming your sports
live TV online. We're getting the second biggest player when
(08:38):
you combine Disney and Fubo to be taking on and
really only second to YouTube TV. Fubo up one hundred
and ninety percent. Will delve into that later in the show.
Microsoft and an interesting story it came on Friday, the
fact that they're going to be spending eighty billion dollars
in AI data centers. Many saying that, look, this is
why we've got tech rallying on the day. More broadly,
more commitment to AI infrastructure. Microsoft up two percent and
(09:00):
in Vidia in a new record high. We're up five percent,
and that's because we're expecting a keynote at about six
thirty pm at Pacific time, that is nine thirty pm
New York time at later today from one Jensen Huang.
Let's get out to Ian King for more. In of course,
at CEES we're about to unfold.
Speaker 2 (09:15):
What do we expect from Jensen in particular.
Speaker 6 (09:18):
Yeah, I mean we don't know yet. There are going
to be briefings and then he's obviously going to hit
the stage later today. What we've seen are some leaks
of a new GPU architecture that's going to becoming that's
basically for the PC market. So used to be their
pride and joy, but now it's kind of a minor thing.
And you'll remember that we reported a long time ago
(09:38):
now that this will be the year that Jensen and
in video would directly get into the PC market, into
the CPU market.
Speaker 3 (09:46):
And not the only one, Quillcom introducing new chips designed
to power PCs as well. It's all about the AIPC unfold.
Speaker 6 (09:54):
Yeah, I mean, this is the big hope for both
the PC makers and the guys that supply them that hey,
this is something exciting, this is a new way to
use your PC, and that everybody will rush out to
trade in their old machine. And basically every chip maker
out there is saying, hey, we've got the best solution
for this particular way of doing things.
Speaker 3 (10:13):
In you've got to be clued into what is writing
on the Tech Daily today is a brilliant piece all
about the important conversations that are going on outside the
main floor of Las vegas Ian King in San Francisco
for us, thank you so much for the look ahead
to CES and of course that keynote from Nvidia's CEO
tonight and it's the talk of the town. In fact,
Jim Bianco from Bianco Research had this to say about
(10:34):
the company and it's CEO just earlier today on Bloomberg Surveillance.
Speaker 7 (10:37):
Well, first of all, everybody should care about Jenson Wang
because he is the most important person in twenty twenty
five to everybody's returns, no matter what market you are
investing in right now, because Nvidia is the driver of everything.
Speaker 2 (10:51):
Let's get more investor analysis.
Speaker 3 (10:53):
Joann fini It is a partner and portfolio manager of
Advis's Capital Management.
Speaker 2 (10:57):
All on ten to Hooks the six thirty pm Pacific time.
Speaker 8 (11:01):
Absolutely, Caroline, Clearly Jensen will have a lot that he
can talk about and share with with his investor base.
And because he has a lot of good stories to tell.
Speaker 9 (11:13):
The AI demand is not debating.
Speaker 8 (11:15):
In fact, that news from Microsoft last week shows how
much more there is to be spent. And you know,
Jensen's talk will likely also hit plenty of other companies
that are more and more involved now in rolling out
AI applications, whether it's in robotics or autos or digital
twins or elsewhere.
Speaker 3 (11:33):
Just talk about how in video itself can own that.
What's been so phenomenal is the way in which you're
sort of getting virtually vertical integate gration. They can offer you,
of course the hardware, but he's rightly selling you the
software like a.
Speaker 2 (11:45):
One stop shop.
Speaker 3 (11:46):
How does he continue to iterate that into the era
and era of well apps and of course agents.
Speaker 8 (11:54):
Yeah, so, you know it has been a long time coming,
the development of the Nvidia specific songlfware for you know,
building computational models called Kuda. You know, he's been working
on that for decades and it's now fully integrated into
the hardware. And that creates a really deep moat, which
is why it's awfully hard for other companies to break
into this space. Not that we won't see them. We're
(12:16):
going to see AMD, We're going to see more and
more in house, but it creates a really strong platform
for Nvidia, and we expect tonight that he'll talk more
about how he's going to roll out more data centers
to run AI models for other folks. So he's not
going to be content I think to stick just with
the hardware and the software. I think he wants to
get into services to some extent, and it's not been
(12:37):
something that Nvidia has shied away from in the past,
that is competing with its customers.
Speaker 3 (12:41):
What new you hoping to see when it comes to
applications When it comes to robotics, you just mentioned it
for example.
Speaker 8 (12:48):
Yeah, so you know Cees is always full of dreamware
as well as reality and.
Speaker 2 (12:53):
So it's always fun to see what small and.
Speaker 8 (12:55):
Large companies roll out. But you know, robotics is clearly
an area for growth that's more near term. We already
see plenty of robotics, but they need to become smarter,
They need to become more physically adept and graceful, and
we think AI can really help in sensing the environment
and responding to it. But another area that's a little
bit more overlooked is digital twins. This is when you
(13:18):
build a model to replicate something in the real physical world,
and you use that model to save on costs to
improve design, whether that's a product, whether it's a building,
whether it's infrastructure, and we think AI can really inform
and make that a whole lot more efficient and improve designs.
We own a company called Bentley Systems, for example. It
provides software for management and development of construction and projects
(13:42):
in the infrastructure space. So that's an example of a
company that could be a growing beneficiary of the infiltration
of AI into that area.
Speaker 3 (13:50):
We love how you bring up individual names, and of
course you do have exposure to video, but you also
mentioned AMD, there is the Amazon and even.
Speaker 2 (13:57):
Broadcom in your portfolio.
Speaker 3 (13:59):
Who else wins when it comes to what has just
been the n video ride, Well, you know clearly.
Speaker 8 (14:06):
And NAMD, you know, providing those chips. Broadcom we have
owned for a very long time, and as they continue
to acquire and build new capabilities, we think that's going
to continue to be a really strong player in this
space and has a lot more room for the valuation
to improve. And beyond that, you know, look in new
applications in healthcare for example, you know companies that provide
(14:29):
new ways to monitor personal health, so software leveraged to healthcare,
new medical devices from for example, Medtronic that will bring
more and more smarter analytics. And then in industrials, you know,
whether it's that infrastructure build or you know, software to
oversee agricultural.
Speaker 9 (14:48):
Developments, that sort of thing.
Speaker 8 (14:49):
So you know, there are a lot of opportunities. We
do like those big names Microsoft, Amazon, because not only
does it have Amazon Web services, but online retail is
still gaining share. So there's still you know, a lot
of opportunities out in the tech space for continued growth
this year.
Speaker 3 (15:05):
Advice's capital management partner Joann Feeney, brilliant to have your
take on the trends and the individual companies as well.
Speaker 2 (15:11):
Coming up, we're gonna be talking.
Speaker 3 (15:13):
Trump's tariff position, the President elect denying reports of the
potential pairing back of.
Speaker 2 (15:17):
His tariff plans.
Speaker 3 (15:18):
More on that next, but first we return to another
key leader who today resigns his position as Liberal Party leader,
Justin Trudeau. The Canadian Parliament will be suspended it on
March the twenty fourth. Go to Life, Go for more.
Speaker 2 (15:31):
Lister Blomberg Technology, did I the conver.
Speaker 10 (15:36):
You spoke about the Liberal Party as an institution and
the internal battles right now. But I'm wondering if you
feel that another leader will have more success than you
will at beating preclium.
Speaker 3 (15:57):
Today, the Washington Post reported the President elects Trump's are
said to be looking at tariff plans that could be
applied to every country, but.
Speaker 2 (16:04):
Only covering critical imports.
Speaker 3 (16:06):
Trump has denied those reports through your post on True
Social saying it's quote incorrect and that he won't be
pairing back his tariff policy. Let's get out to blue
Bags Mike Shepherd for more and just where are we
on the latest of the tariff debate.
Speaker 11 (16:19):
Well, it's unfolding still, Caroline. This is one of the
biggest questions surrounding the incoming Trump administration's economic policy, together
with his plans to cut taxes and his plans and immigration,
and these are areas that would affect key industries, especially tech,
and yet we don't have a clear picture from what
we saw in this back and forth between the Post
(16:40):
and then Trump today. No matter what, industries are going
to be looking at what the tariffs could mean for them,
and it's really two key areas. One it would be
the increased costs of any inputs that they have in
their production lines. And the other thing that they will
be worried about is possible retaliation by US trading partners.
It could mean that US products, for instance, anything made
(17:04):
by Apple or other name brand American companies could be
hit or targeted in retaliation in response to anything that
Trump does. Now, it's important to note Trump still doesn't
take office for another two weeks, and this will take
shape over a matter of months, not just in the
span of the time between now January twenty.
Speaker 3 (17:25):
Mike shefferd it's going to be our daily dose until
that time, an onwards.
Speaker 2 (17:29):
We thank you so much.
Speaker 3 (17:30):
Meanwhile, let's talk about politics and take a little bit more.
One person within Trump's sphere, you know, Musk is now
under scrutiny by senior UK politicians.
Speaker 2 (17:37):
This after the Tesla boss.
Speaker 3 (17:38):
Made a series of inflammatory remarks accusing Prime Minister Kastama
of complicitly involved in a decades old scandal over child
sexual exportation gangs. Max Schaffkin, a blombag BusinessWeek joins US
fund more and look, this is following a barrage of
posts on his own social media platform x where he
has been calling for prior Minister kiss Stama to be imprisoned.
(18:00):
He's been urging with the release of Tommy Robinson, who
is a far right leader, and ultimately stirring up even
the surprising move away from Nigel Farage.
Speaker 2 (18:09):
He's the leader of the UK Reform Why is he
getting so involved? Well, I think two things are going on.
Speaker 12 (18:14):
One and probably the most important thing is Elon Musk
is stirring the pot on social media. This is somebody
who likes to be a provocateur. He basically goes wherever
there's heat. You know, we saw this during the twenty
twenty four election, where he's sort of spreading you know,
unfounded conspiracy theories, backing questionable figures. Really the same playbook
we're seeing, you know in the UK.
Speaker 2 (18:35):
The difference is, of course that.
Speaker 12 (18:36):
Elon Musk lives in the United States and has sort
of more explicitly engaged politically. Here we have a guy
who's not really doesn't have a ton of business interests
in the UK getting involved, you know, initially backing Nigel
Farage's party, now coming out against Nigel Farage. It really
feels like a combination of again stirring the pot, but
also perhaps having a real disagreement with kerstar Or over
(19:00):
some of these speech rights. Of course, X has had
you know, some back and forth with the British government
over you know, how he should regulate misinformation and that
sort of thing.
Speaker 2 (19:10):
Kis Dama now speaking back.
Speaker 3 (19:12):
He had been relatively silent, but now he says there's
a line that has been crossed, particularly when it came
to the safety of one of his own MPs.
Speaker 2 (19:18):
Just Phillips all.
Speaker 3 (19:19):
Regarding previous roles in the Crown Prosecution Service that when
he was leading, but away from the intricacies of really
what's going on in the UK, how does it affect
Ino must relationship with Trump going forward and the administration there,
because as we reported, these UK senior figures are coming
out and saying this is bad for US UK relationship.
Speaker 12 (19:37):
Yeah, I mean it's I do think people realize people
in the UK realize that Elon Musk and Donald Trump
are two different people. There may be a close relationship,
but you know, of course Trump is going to make
his own policy, and of course historically Trump has kind
of cultivated ties with extreme figures who would sometimes come
out and stir the pot and almost gives Trump a
weapon perhaps in dealing with UK politicians. That said, you know,
(20:00):
Tommy Robinson is a very extreme figure, a far right figure,
and I think it's you know, the sort of back
and forth with Farraj shows that it's possible that Musk
may have crossed the line. Maybe he didn't quite know
what he was stepping into.
Speaker 3 (20:13):
We'll see how this continues to unfold. Max trafckn all
things elon Ink. You've got to check out the podcast
as well.
Speaker 2 (20:18):
We thank you.
Speaker 3 (20:20):
Disney and streaming provider Fubo TV are nearing a deal
to combine their online live TV businesses. Now we understand
that Disney is going to be folding in its Hulu
plus live TV business into Fubo, creating a new venture
that will be owned seventy percent by Disney and the
rest by Fubo. It continues to be listed on publicly
traded benchmarks and Lucas Shaw is here too get into
(20:43):
what is actually a pretty complex deal. But the key
takeaway is Venue, which is the new sports offering, is
going to be able to go ahead.
Speaker 13 (20:51):
Yeah, Bubo had sue to block the debut of Venue,
which is a joint venture between Disney, Fox and Warner Brothers. Discovery.
They said it was a sign of the anti competitive
nature of these big companies because Venue was going to
offer a bundle of live sports channels in a way
that these companies wouldn't let Fubo do. The lawsuit proved
(21:12):
to be pretty effective for Fubo, right, they won the
first injunction or they want an injunction to stop it.
And now they're essentially getting acquired for a bunch of money.
Speaker 3 (21:20):
Bunch of money that sends shares rocketing my one hundred
and ninety percent the six point two million that they're
likely to now offer.
Speaker 2 (21:26):
How big is that?
Speaker 3 (21:27):
What does it mean in terms of how they can
survive the on and off switch of subscriptions around the
sporting dary.
Speaker 13 (21:33):
Yeah, so both Fubo and Hulu's live TV service are unprofitable.
To my knowledge. Fubo reports its numbers, Hulu Live Tv doesn't.
Six point two million makes it the second biggest among
the digital only PATV companies. It makes it, I think,
kind of number five or six total. You still have
YouTube TV, Comcast, Charter and the satellite companies ahead of it.
Speaker 2 (21:54):
Oh M and A.
Speaker 3 (21:55):
The watchwork for twenty twenty five, and it kicks off
strong with this particular deal. Lukashaw all in on the
consideration around convergence. Welcome back to Blue Meg Technology. I'm
Caroine Hid in New York. A quick check on these markets.
Speaker 2 (22:15):
We are higher.
Speaker 3 (22:16):
Substantially on the nasat one hundred, were up by one
point seven percent, and it's basically your magnificent seven that
lead us higher to the tune of Nvidia up to
a new record high. But you've got Microsoft, Amazon, some
of the key names in the biggest points contributors to
the upside. We're all in on AI and infrastructure, and
we look ahead to Jensen Wang and his keynote has
six thirty pm Pacific time later today. Bitcoin also on
(22:38):
file risk assets on the higher side, and we're up
four percent. One hundred and two still offer that record high,
but we've certainly been clawing back some of those prem
year's eve losses by coin one hundred and two thousand.
But let's dig into a company that isn't traded, TikTok
and it's darker side.
Speaker 5 (22:53):
Now.
Speaker 3 (22:53):
There's a lawsuit from the state of Utah alleging that
TikTok has long known its popular video live streams it
encourages sexual content including streams exploiting and quick grooming miners,
and that TikTok also discovered through an internal investigation it's
feature called TikTok Live facilitated money laundering and it allowed
users to sell drugs and fund terrorism. That's bring in
(23:14):
Bloomberg's Alex Levine for more Alex. That all of this
is after we finally get more detail on a lawsuit
brought by Utah and other states, but it's been relacted.
Speaker 2 (23:26):
We get to see the details. What did you learn?
Speaker 14 (23:29):
Well, to your point, all of this really is it
has taken a lot of time for this to come
to light. I reported on TikTok Live and some of
the issues that you've stated back in twenty twenty two,
we're now in early twenty twenty five, and so it is,
you know, it is the platform is much bigger now,
it is much more far reaching. There are much more,
(23:49):
you know, much younger of a demographic on the platform.
But what the internal investigation found, which was unredacted in
this newly filed complaint on Friday, is that TikTok was
very aware of a lot of the issues that we
had reported on on TikTok Live back in twenty twenty two,
except that the issues were much larger and much there
(24:10):
was much more scale to the issues than we were
even aware of. So they found that there were hundreds
of thousands of miners who were not supposed to be
using the TikTok Live future at all, who were not
only using it but also using it making money off
or making money off of it, and they were essentially
being asked by adults to perform sexual acts racy acts
(24:32):
in exchange for virtual gifts that can be cashed out
for real money.
Speaker 1 (24:35):
Now.
Speaker 3 (24:35):
In a response, TikTok says, this lawsuit ignores a number
of proactive measures that TikTok has voluntarily implemented to support
community safety and well being. They have taken measures since
your first incredible reporting that we think about that was
bringing it to light in twenty twenty two.
Speaker 2 (24:51):
But is it enough?
Speaker 3 (24:52):
Has enough steps been taken for Utah and other states
to feel like this is okay now?
Speaker 14 (24:58):
I think the timing of these lawsuits filed both in
June by Utah and then in September by a bunch
of other states that cited similar issues with TikTok Live
shows that it is not enough, especially against the backdrop
of what we are now seeing with the national security issues.
You know, TikTok is going before the Supreme Court in
this unprecedented hearing this Friday, and that is over national
(25:19):
security issues and the fact that TikTok may be banned
over those national security issues. But I think the child
safety issues far predated that, and in fact, the fact
that they are so prevalent on the platform, which this
unredacted complaint has now shown, makes the national security concerns,
I would say even even more concerning.
Speaker 2 (25:38):
And as you mentioned, this is a massive week for TikTok.
Speaker 3 (25:41):
We've got Friday the Supreme Court, we might be hearing
the details of whether or not indeed they do think
that well freedom of speech outweighs access to TikTok.
Speaker 2 (25:52):
Llor not absolutely. It's a huge week for TikTok.
Speaker 14 (25:55):
I think that everyone is very much looking to the
Supreme Court to see are they going to up hold
this law that is about to take effect or will
they stay the law, which means hit pause on it
while considering what they want to do with it. But
I think the fact that Trump's inauguration is just over
a week later is going to complicate things and it's
going to make it a very bumpy couple of weeks
for the company no matter how this plays out.
Speaker 3 (26:16):
And we're just glad that you're there to report on
all of it. Alexandra Levine, We thank you. Now let's
just keep the discussions going on TikTok it's potential ban,
and as you mentioned, the Supreme Court set to consider
the constitutionality of the law on an expedited timeline, arguments
scheduled for a special session on January tenth.
Speaker 2 (26:33):
Now, we want to be talking with a key voice
on all of this.
Speaker 3 (26:37):
Ivan Sharony is CEO for Route Security, a data protection
intelligence software company who is testified, of course before the
House Commerce Committee in the past, to explain how TikTok accesses,
how it disseminates personal data, and just remind us, ultimately, Ivan,
how it does.
Speaker 15 (26:56):
That's an excellent question, thank you, Carlin. Number one, how
does it? It's obviously through its app and secondly is
through a lot of something called data trickers that are
embedded into all kinds of websites Americans use every day.
So that's how they can access information, collect informations on
Americans that actually never even use TikTok app in their life.
Speaker 3 (27:20):
What's also interesting is the way in which you've been
trying to access and continuing to understand that those, yes,
you might have the app, you might therefore be vaguely
aware of some of the issues or risks that are
at play. But even if you don't have the app,
you continue to monitor basically how pixels or more prevalent,
even in things like Google Classroom, TikTok has been. Can
(27:40):
you understand can you help us understand how you performed
that and ultimately what it means for the prevalence of
TikTok across us people's data.
Speaker 10 (27:49):
Yeah.
Speaker 15 (27:50):
Absolutely. What is really concerning, what we've found is that
even over the last twelve months since TikTok was there's
so much scrutiny. What we've found is that the presence
of TikTok, for example, on a healthcare website had actually
increased by about thirty five percent in the last year,
rather than decreasing. And what is concerning is that those
(28:10):
pixel structures that are all over the websites that we
all use on every day, that they're collecting a lot
of information, whether it's like wood websites you use would
you enter into the websites where you're coming in, and
all kinds of information that is collected can potentially be
used for all kinds of nefarious reasons, whether it's for
(28:32):
targeting individuals or groups of people, or even potentially speculating
here teaching AI systems to be even more precise on
targeting American So it's a very very concerning on how
much data is being collected everywhere by TikTok on people
who never even use the app.
Speaker 3 (28:50):
So if ultimately the presence of TikTok trackers are going
up into the right of thirty five percent versus last year,
how impactful we will be removed moving an app if
it's affecting people who don't have the Apple Tool.
Speaker 15 (29:03):
Yeah, So it's definitely very loaded topic and a question.
So presumably if it is banned, the step one will
be obviously to remove the app it self from the
app stores, from Apple, Google and everywhere else is available. Secondly,
it's also removing it from all Americans websites, so making
sure that it's not collecting information on Americans outside of
(29:27):
the app as well. And thirdly, which will be an
ongoing task to ensure that it will never come back,
and frankly speaking, it's not just TikTok. There's a lot
more other information being collected by other companies associated to
China on Americans in addition to to TikTok as well.
Speaker 3 (29:45):
So iven just give us out of one to ten
how hard it would be too?
Speaker 2 (29:50):
It sounds easy. You just remove it from the app store,
you get rid of it on websites. But technically speaking,
how effective do you think this can be?
Speaker 15 (29:58):
It can be definitely very active. Probably a really good
illustration here is something that is happening in the payment
security in this credit cards being governed. You know how
you're paying online and how the security of your credit
card information is being governed. And what payment security is
doing is they've introduced something called the New Standard PCI
(30:21):
for which now ensures and mandates companies on a weekly basis.
It verifies that no unauthorized software, big pixel structors, anything else,
any software technology pieces are collecting credit card information without authorization.
So a similar approach can definitely help prevent TikTok or
(30:41):
other spying or you know, a data collection being down
Americans without authorization.
Speaker 3 (30:46):
I mean, of course, the Supreme Court matter is a
matter of law and interpretation, and there is politicking amongst
you know whether or not January the nineteenth will be
pushed out to post a new administration in the White House.
But can you set if you were having the air
of one Donald Trump right now, how would you articulate
how risky this is for everyday Americans?
Speaker 15 (31:11):
How risk it is. It has already been publicly admitted
and found and disclosed that information collected by TikTok was
already used against Americans, whether it was spying on journalists
and other cases that have been already reported in in use.
So it is already happening, and is it happening on
a larger scale very likely. So in terms of the
impact data being collected and shared potentially with the adversarial country,
(31:36):
is it a risk in my personal opinion, yes, it
is a very high risk.
Speaker 3 (31:41):
Well, certainly your evidence gave sway when you gave it
on the House as well, Ivan SARENI, we thank you
so much for youo for security on all things TikTok. Meanwhile,
coming up, how Microsoft is using its venture fund to shape.
Speaker 2 (31:53):
The future of AI.
Speaker 3 (31:54):
We've got Michael Stewart, managing partner of N twelve here
that's next to rebtechnology. Microsoft it's making a major AI investment,
(32:17):
announcing it will spend eighty billion dollars on data centers
over the next year. The company wrote previously that not
since the invention of the electricity has the United States
had the opportunity it has today to harness new technology
to invigorate the nation's economy. Now, Microsoft is also investing
in AI through its venture capital fund M twelve, calling
it the defining technology of our times. Please therefore to
(32:39):
welcome Michael Stewart, managing partner of M twelve, who has
been at this AIML hardware software investment for a long time. Michael,
and we're pleased to have you. So, where are other
than the AI applications? I want to just dig into
that idea of data centers and the commitment of money
towards it. Where are innovations happening within the data centers?
Speaker 7 (33:01):
Yeah?
Speaker 16 (33:01):
So, uh, the the the demand that we're gonna see
for AI as as some of these applications start to
roll out this year and the next year, is is
gonna really accelerate. And it's key not just to have
an AI that's available, but it's also performance, affordable, secure,
and and in in In doing that, it's not just
(33:22):
about building out more GPUs, more data centers, but actually
increasing the quality of the AI output to be UH
suitable for enterprise use. In that and in that sense,
what we're seeing right now is building out kind of
the foundation for a lot of different places for technologies
to plug in to make this AI better for for
its customers.
Speaker 3 (33:42):
I wanna talk optimizing of applications, but can you go
to the optimizing of AI infrastructure right now and where
you think some of the most exciting moves forward have.
Speaker 16 (33:51):
Been Efficient chips are are are clearly an opportunity to
address not just the uh the space and the racks
that we have to put, you know, in the data centers,
but also the power that goes into them. And you
know that's one of our portfolio companies, d Matrix that
makes an innovative in memory compute architecture for AI inference.
(34:13):
The compute and memory are are are kind of combined
into one in a new architecture that also uses chiplets
or heterogeneous integration to flexibly maximize the performance of the
silicon that you need in.
Speaker 3 (34:26):
A given card, and that in many ways affects the
energy usage as well power needed And I know energy
innovation is another key area of yours, Michael, but taught
us there for about how we're going to use it.
In twenty twenty five, all I hear is agents, agent, force, agentic.
Speaker 2 (34:43):
No matter how you term it, is it all about agents.
Speaker 16 (34:47):
I'm not gonna sound too different from that. I'm a
strong believer that this year, the quality of the AI models,
the architecture of the agentic applications, they're going to get
better and better and attract more attention from companies that
want to use them to address their own.
Speaker 9 (35:07):
Costs and scaling needs. And we're seeing this come in
two directions.
Speaker 16 (35:11):
Startups that are creating agents or platforms for agents and
selling them as services, a sort of SaaS model. The
other is the use of the AI itself in these
small companies. Is is something to really start to look at.
These founders are building the companies with an AI first
mindset that's really quite different. But it's also going to
(35:35):
inspire and stimulate larger companies to take note at the
efficiencies enabled and adopt this into their own uh their
own infrastructure.
Speaker 3 (35:44):
But I feel like the larger software players have already
got the memo and you're seeing the likes of sales
Source go all in your who knows where, of course,
Microsoft be able to push forwards with its co pilots.
Speaker 2 (35:57):
How are you seeing the opportunity of the.
Speaker 3 (35:58):
Startups to be able to innovate faster or in a
more niche manner.
Speaker 16 (36:03):
And fast, you know, as you use word fast, velocity
is the absolute definitive trend of this era. Everything's moving faster,
Companies getting form faster, funded faster, growing revenue faster, and
agents as they mature and as they become part of
the everyday makeup of these companies themselves, are you know,
(36:27):
at the same time the product but also the organizing
principle of these companies. And I think that's a different
way to look at this from where we expect to
see SaaS revenues build up over time as it happened
in the in the prior couple of years software investing contexts.
To today, the companies are able to accomplish far more
(36:47):
with a much smaller team, reach revenue targets far greater
than we had expected, and I think they're going to
be profitable much sooner than we had otherwise thought possible.
Speaker 3 (37:00):
Fast doesn't always bode well for deep analysis and doing
your corporate governance tease trust and as dotted, how are
you ensuring that the return on investment that it seems
to be evident is actually happening and it's actually going
to be resigned that these companies aren't just scaling very
quickly over a quarter, but they're going to maintain that
(37:20):
user base for the next year and the next year.
Speaker 16 (37:24):
ROIS is the key theme here is like, if you
are a founder and you are creating an AI product,
this isn't just about creating a white paper that your
customer might read to see where the ROI could plausibly
occur in their organization. This is really an opportunity for
those founders to go out and drive those pilots themselves.
(37:47):
The customers will see these savings hit their bottom line,
thereby driving more consumption of AI. And I think that
kind of virtuous cycle is a really big difference from
prior eras of a where the savings might come in
a defrayed expenses or defrayed capex point of view. Here
(38:08):
it's about getting higher return on capital, higher return on
the company's operations. And I think as a startup you
really have to get serious about the intellectual honesty of it,
and your customers must agree with you. Those those startups
that are able to accomplish that are going to grow
ten times faster than the norm.
Speaker 3 (38:27):
Well, we know that you'll takes one to know one,
or you're a guy with more than forty patterns of
your own, so appreciate your time. Michael Stewart, managing partner
of M twelve. Of course Microsoft VENTUREM. Meanwhile, it's time
for talking tech first up in video partner on High
It's posted a fast than expected fifteen percent revenue growth,
that is as the company rides a sustained demand for
AI infrastructure. The company, also known as Fox Gone sow
(38:49):
December revenue rising forty two percent, which really did beat
anast expectations, and expects significant sales growth in the fiscal
first quarter two plus. TDK, the main supplier of iPhone batteries,
says it plans to roll out an improved version of
its product to help mobile devices keep up with the
rising power demands view guests at ai now. The Tokyo
based company says it will begin mass production of its
(39:10):
third gen batteries in the late summer and Samsung is
expanding its AI reach, adding.
Speaker 2 (39:16):
A new suite of features to its line up.
Speaker 3 (39:18):
A premium TVs now the Electronic strand is set to
introduce Vision AI. It's allowing information to be displayed of
what's on the screen. Other features include a built in
AI processor to analyze content whose colors and contrast, and
optimized audio Tube. Today, we bring you the latest from
(39:41):
an exclusive Bloomberg BusinessWeek interview as with the Open Ai
CEO Samalman. In it, he discusses his infamous Forda firing,
how he runs open ai now, his plans for the
Trump must presidency, and of course, his relentless pursuit of AGI.
Here for more Bloomberg Smart million Who's part of what
is very deeply reported out Q and A. So it
(40:02):
starts with all like, what were the key dinners, What
were the key moments him sam Oltman discussing the time
that he sat down with Elia really started to think
about building AGI.
Speaker 2 (40:11):
What for you was the biggest like jaw dropping moment
of the interview?
Speaker 7 (40:15):
Uh?
Speaker 17 (40:16):
I mean, I think the thing that surprised me the
most is when he's given like the opportunity to talk
about what what are your what are your big ambitions?
Speaker 9 (40:24):
What what do you want to solve?
Speaker 17 (40:25):
He talks about fusion energy like that that's that that's
the one thing that he I mean, you know, obviously
he's focused on creating super intelligent supercomputers and artificial general
intelligence and all these uh, you know, wacky ideas that
they're working on in open AI. But he's got this
big investment in fusion energy, which is like sort of
a kind of a scary.
Speaker 9 (40:47):
Concept to a lot of people.
Speaker 17 (40:49):
That and and also one that like is it is
it even really going to work? Has science really proven
that fusion energy is like going to solve all of
our energy shortage issues?
Speaker 9 (40:59):
But like energy is a big kind of need for AI,
which you know sucks up so much electricity.
Speaker 3 (41:08):
Well, he's not afraid to be way ahead and trying
to solve the unsolvable. He really details how back in
twenty twelve he's sort of a heretic for even discussing AGI,
and people didn't want to talk about it with him.
But what does he ultimately think that this is all
for the greater good? Is there a utopian idea here
as to why we need nuclear fusion, why we need AGI?
Speaker 17 (41:27):
Yeah, I mean there's also a lot of ways that
any of those things could go wrong, but he is
I think you'll see it in the tone of the interview,
and you'll you'll find it when you read this.
Speaker 9 (41:38):
It's it's a long read, so, but I think.
Speaker 17 (41:42):
The context is important with someone like that who's in
such a big position of power, that you kind of
get a sense for who he is as a person.
And he is an optimist and he does believe that
the things he's working on he can shape them for
the better.
Speaker 2 (41:55):
Even with a new administration.
Speaker 17 (41:57):
Yes, and that was that was a that was ak
of the interview, especially in the latter half. You'll see
we talk about his relationship with Donald Trump, who he's
previous previously had differences of opinion with his relationship with
Elon Musk, who that it's very strained, a co founder
of open ai now suing open Ai, and his his
(42:19):
optimism very much extended to the idea that he'll be
able to repair those relationships and have a working relationship
in the new administration. He's asked about his donation to
Trump's inauguration and and you know, of course, he's like,
I support whoever the president is, and yeah, I mean, I.
Speaker 9 (42:44):
Found that all very fascinating. His view on politics me too.
Speaker 2 (42:47):
Go read it. You've got to see Mark million there
on the latest big take.
Speaker 3 (42:51):
Now that does it for this edition of Blue meg
Technology Tomorrow yet more, all from.
Speaker 2 (42:56):
CS in Las Vegas tens Huang. Don't miss it.
From the heart of where innovation, money and power collide
in Silicon Valley and beyond. This is Bloomberg Technology with
Caroline Hyde.
Speaker 2 (00:12):
And Ed Ludlow live from New York. This is Blomberg Technology.
Coming up.
Speaker 3 (00:29):
CEES kicks off in Las Vegas today with a keynote
speech from Nvidia.
Speaker 2 (00:34):
We'll have the latest on what to expect.
Speaker 3 (00:35):
Plus, Disney and Fubo TV agreed to combine their online
TV businesses live TV, creating the second biggest digital PATV
provider and sending Fubo shares soaring and a lawsuit a
ledgers TikTok's video livestreams facilitated the exploitation and.
Speaker 2 (00:50):
Grooming of miners. Details later this hour.
Speaker 3 (00:54):
First, we have some breaking news regarding the Federal Reserve.
Bar Michael Barr is going to be stepping down as
FED Vice Chair for Supervision, a key move that we
want to bring in one Michael McKee here because, by
I said, the risk of a dispute over the position
could be a distraction. New administration in the White House
means new change leadership in the FED.
Speaker 4 (01:12):
Yeah, new regulatory era in the AT four banks and
other institutions. Because of course the trumpet incoming Trump administration
is going to be very much less so, so Michael
Barr is stepping down February twenty eighth and he will
serve until a successor comes.
Speaker 2 (01:30):
There are other resignations we need to pay attention to.
Speaker 3 (01:33):
Michael Meeky, Thank you, Canadian Prime Minister trust and Trudeau
speaking in Ottawa.
Speaker 2 (01:37):
Let's listen in.
Speaker 5 (01:39):
To strengthen and grow the middle class. Why we rallied
to support each other through the pandemic, to advance reconciliation,
to defend free trade on this continent, to stand strong
with Ukraine and our democracy, and to fight climate change
and get our economy ready for the future. We are
(02:01):
at a critical moment in the world. Canadia a shaq
matti mus and tomi minestra, a spire para resilience, generosity,
character is sibia. On to Canadia siskim and motif a
(02:23):
shak jou privilege, the survey, the post, the piedo, milkns
chmus batsu, pusila, class man. Some mobilize on to Canadian
for soutnir lison, a pandemic, fire, progress, reconcilia. They found liberation.
(02:51):
Not in the Lucraine. The democracy h in plutic I
prepari now Traversonalmond. My friends, is you all know I'm
(03:15):
a fighter. Every bone in my body has always told
me to fight because I care deeply about Canadians. I
care deeply about this country, and I will always be
motivated by what is in the best interest of Canadians.
And the fact is, despite best efforts to work through it,
(03:38):
Parliament has been paralyzed for months after what has been
the longest session of a minority parliament in Canadian history.
That's why this morning I advise the Governor General that
we need a new session of Parliament. She has granted
this request and the House will now be prorogued until
(04:01):
March twenty fourth. Over the holidays, I've also had a
chance to reflect and have had long talks with my
family about our future. Throughout the course of my career,
any success I have personally achieved has been because of
their support and with their encouragement. So last night over dinner,
(04:25):
I told my kids about the decision that I'm sharing
with you today. I intend to resign as party leader
as Prime Minister after the party selects its next leader
through a robust nationwide competitive process. Last night I asked
(04:46):
the President of the Liberal Party to begin that process.
This country deserves a real choice in the next election,
and it has become clear to me that if I'm
having to fight in in all battles, I cannot be
the best option in that election. Michel Settee come Vucevi starfighter.
Speaker 3 (05:16):
Justin Trudeau there the Prime Minister of Canada, of course,
now handing in his resignation as the leader of his party.
There is an official suspension of parliament now in Canada
until March the twenty fourth.
Speaker 2 (05:30):
We will return to all of.
Speaker 3 (05:32):
The moves when it comes to politics in Canada. But
the announcement there that Canada will perode parliament until March
to twenty fourth, and indeed Trudeau's Canada Parliament will be
suspended and he announces his resignation after nine years in power.
He says he'll stay as Prime Minister until a new
Liberal leader is chosen.
Speaker 2 (05:52):
His resignation announcement not the only one. This time.
Speaker 3 (05:55):
We returned to Michael McKee and the Federal Reserve because
Michael Barrs.
Speaker 2 (05:59):
Stepped down as FED Vice chair for Supervision. But he's
not resigning from the Federal Reserve. Just this Vice chair position.
Speaker 4 (06:07):
Yeah, which makes a very interesting situation for the FED
because there is no opening on the FED Board of
Governors until January of twenty twenty six, when Ariona Cougler's
term expires, and it's basically been thought she won't be replaced.
But the incoming president won't have the opportunity to pick
a different new vice chair for regulation. He could only
(06:29):
pick from those who are on the board now. The
best guess is that if you were going to choose
somebody from that board, it would be Mickey Bowman, because
she's been the sort of community bank representative, she's been
a banking official. She is a Republican, so she fits
some of the characteristics that the president would want. But
does Donald Trump want Mickey Bowman as vice chair or
(06:51):
is he going to leave the position vacant for right now?
And the other key thing about this is the FED
says it will take no new actions for bank regulation
until his successor is confirmed, and that would seem to
indicate that Basil three, the endgame proposal that has been
sort of the big focus on Wall Street is if
(07:11):
not dead on life support.
Speaker 2 (07:13):
At this point, we'll get to some of the stock
reactions on the banks.
Speaker 3 (07:16):
But is that going to be the big market move really,
that's going to be what's digested here.
Speaker 4 (07:20):
Yeah, the Fed was supposed to re announce in January
or February their latest BUZZL three work up, because they
pulled it back to do some revisions, and now apparently
that's not going to happen.
Speaker 2 (07:33):
We keep an eye on what's happening in the markets.
Speaker 3 (07:35):
Yields till about three basis points to the higher side.
That more based on tariff perceptions and whether or not
they're going to be pulled back or indeed put in
force as Trump had discussed before. We'll get to that
a little bit later, but for now you'll see two
year yields on the downside, thirty eight yields have been
inching higher up four basis points. And we're keeping a
close eye on the bank stocks and the back of
Michael Barr's resignation as the vice chair of the FED
(08:00):
when it comes to supervision, Michael mckeey, thank him. Let's
get back to the tech markets for a moment as well,
because that we're at record highs on certain names Nasdaq
app or another one point seven percent on the NAZAK
one hundred, the big benchmark, what drives us higher.
Speaker 2 (08:13):
The points being pushed higher by one.
Speaker 3 (08:16):
In video, we are at a new record high for
in video at the moment, we want to go to
some other key market moves of the day. Fubo TV
extraordinary move for this particular company, as we once again
see the beginning of twenty twenty five kickoff to an
m and a frenzy and consolidation within media. This is
all about how you're going to be consuming your sports
live TV online. We're getting the second biggest player when
(08:38):
you combine Disney and Fubo to be taking on and
really only second to YouTube TV. Fubo up one hundred
and ninety percent. Will delve into that later in the show.
Microsoft and an interesting story it came on Friday, the
fact that they're going to be spending eighty billion dollars
in AI data centers. Many saying that, look, this is
why we've got tech rallying on the day. More broadly,
more commitment to AI infrastructure. Microsoft up two percent and
(09:00):
in Vidia in a new record high. We're up five percent,
and that's because we're expecting a keynote at about six
thirty pm at Pacific time, that is nine thirty pm
New York time at later today from one Jensen Huang.
Let's get out to Ian King for more. In of course,
at CEES we're about to unfold.
Speaker 2 (09:15):
What do we expect from Jensen in particular.
Speaker 6 (09:18):
Yeah, I mean we don't know yet. There are going
to be briefings and then he's obviously going to hit
the stage later today. What we've seen are some leaks
of a new GPU architecture that's going to becoming that's
basically for the PC market. So used to be their
pride and joy, but now it's kind of a minor thing.
And you'll remember that we reported a long time ago
(09:38):
now that this will be the year that Jensen and
in video would directly get into the PC market, into
the CPU market.
Speaker 3 (09:46):
And not the only one, Quillcom introducing new chips designed
to power PCs as well. It's all about the AIPC unfold.
Speaker 6 (09:54):
Yeah, I mean, this is the big hope for both
the PC makers and the guys that supply them that hey,
this is something exciting, this is a new way to
use your PC, and that everybody will rush out to
trade in their old machine. And basically every chip maker
out there is saying, hey, we've got the best solution
for this particular way of doing things.
Speaker 3 (10:13):
In you've got to be clued into what is writing
on the Tech Daily today is a brilliant piece all
about the important conversations that are going on outside the
main floor of Las vegas Ian King in San Francisco
for us, thank you so much for the look ahead
to CES and of course that keynote from Nvidia's CEO
tonight and it's the talk of the town. In fact,
Jim Bianco from Bianco Research had this to say about
(10:34):
the company and it's CEO just earlier today on Bloomberg Surveillance.
Speaker 7 (10:37):
Well, first of all, everybody should care about Jenson Wang
because he is the most important person in twenty twenty
five to everybody's returns, no matter what market you are
investing in right now, because Nvidia is the driver of everything.
Speaker 2 (10:51):
Let's get more investor analysis.
Speaker 3 (10:53):
Joann fini It is a partner and portfolio manager of
Advis's Capital Management.
Speaker 2 (10:57):
All on ten to Hooks the six thirty pm Pacific time.
Speaker 8 (11:01):
Absolutely, Caroline, Clearly Jensen will have a lot that he
can talk about and share with with his investor base.
And because he has a lot of good stories to tell.
Speaker 9 (11:13):
The AI demand is not debating.
Speaker 8 (11:15):
In fact, that news from Microsoft last week shows how
much more there is to be spent. And you know,
Jensen's talk will likely also hit plenty of other companies
that are more and more involved now in rolling out
AI applications, whether it's in robotics or autos or digital
twins or elsewhere.
Speaker 3 (11:33):
Just talk about how in video itself can own that.
What's been so phenomenal is the way in which you're
sort of getting virtually vertical integate gration. They can offer you,
of course the hardware, but he's rightly selling you the
software like a.
Speaker 2 (11:45):
One stop shop.
Speaker 3 (11:46):
How does he continue to iterate that into the era
and era of well apps and of course agents.
Speaker 8 (11:54):
Yeah, so, you know it has been a long time coming,
the development of the Nvidia specific songlfware for you know,
building computational models called Kuda. You know, he's been working
on that for decades and it's now fully integrated into
the hardware. And that creates a really deep moat, which
is why it's awfully hard for other companies to break
into this space. Not that we won't see them. We're
(12:16):
going to see AMD, We're going to see more and
more in house, but it creates a really strong platform
for Nvidia, and we expect tonight that he'll talk more
about how he's going to roll out more data centers
to run AI models for other folks. So he's not
going to be content I think to stick just with
the hardware and the software. I think he wants to
get into services to some extent, and it's not been
(12:37):
something that Nvidia has shied away from in the past,
that is competing with its customers.
Speaker 3 (12:41):
What new you hoping to see when it comes to
applications When it comes to robotics, you just mentioned it
for example.
Speaker 8 (12:48):
Yeah, so you know Cees is always full of dreamware
as well as reality and.
Speaker 2 (12:53):
So it's always fun to see what small and.
Speaker 8 (12:55):
Large companies roll out. But you know, robotics is clearly
an area for growth that's more near term. We already
see plenty of robotics, but they need to become smarter,
They need to become more physically adept and graceful, and
we think AI can really help in sensing the environment
and responding to it. But another area that's a little
bit more overlooked is digital twins. This is when you
(13:18):
build a model to replicate something in the real physical world,
and you use that model to save on costs to
improve design, whether that's a product, whether it's a building,
whether it's infrastructure, and we think AI can really inform
and make that a whole lot more efficient and improve designs.
We own a company called Bentley Systems, for example. It
provides software for management and development of construction and projects
(13:42):
in the infrastructure space. So that's an example of a
company that could be a growing beneficiary of the infiltration
of AI into that area.
Speaker 3 (13:50):
We love how you bring up individual names, and of
course you do have exposure to video, but you also
mentioned AMD, there is the Amazon and even.
Speaker 2 (13:57):
Broadcom in your portfolio.
Speaker 3 (13:59):
Who else wins when it comes to what has just
been the n video ride, Well, you know clearly.
Speaker 8 (14:06):
And NAMD, you know, providing those chips. Broadcom we have
owned for a very long time, and as they continue
to acquire and build new capabilities, we think that's going
to continue to be a really strong player in this
space and has a lot more room for the valuation
to improve. And beyond that, you know, look in new
applications in healthcare for example, you know companies that provide
(14:29):
new ways to monitor personal health, so software leveraged to healthcare,
new medical devices from for example, Medtronic that will bring
more and more smarter analytics. And then in industrials, you know,
whether it's that infrastructure build or you know, software to
oversee agricultural.
Speaker 9 (14:48):
Developments, that sort of thing.
Speaker 8 (14:49):
So you know, there are a lot of opportunities. We
do like those big names Microsoft, Amazon, because not only
does it have Amazon Web services, but online retail is
still gaining share. So there's still you know, a lot
of opportunities out in the tech space for continued growth
this year.
Speaker 3 (15:05):
Advice's capital management partner Joann Feeney, brilliant to have your
take on the trends and the individual companies as well.
Speaker 2 (15:11):
Coming up, we're gonna be talking.
Speaker 3 (15:13):
Trump's tariff position, the President elect denying reports of the
potential pairing back of.
Speaker 2 (15:17):
His tariff plans.
Speaker 3 (15:18):
More on that next, but first we return to another
key leader who today resigns his position as Liberal Party leader,
Justin Trudeau. The Canadian Parliament will be suspended it on
March the twenty fourth. Go to Life, Go for more.
Speaker 2 (15:31):
Lister Blomberg Technology, did I the conver.
Speaker 10 (15:36):
You spoke about the Liberal Party as an institution and
the internal battles right now. But I'm wondering if you
feel that another leader will have more success than you
will at beating preclium.
Speaker 3 (15:57):
Today, the Washington Post reported the President elects Trump's are
said to be looking at tariff plans that could be
applied to every country, but.
Speaker 2 (16:04):
Only covering critical imports.
Speaker 3 (16:06):
Trump has denied those reports through your post on True
Social saying it's quote incorrect and that he won't be
pairing back his tariff policy. Let's get out to blue
Bags Mike Shepherd for more and just where are we
on the latest of the tariff debate.
Speaker 11 (16:19):
Well, it's unfolding still, Caroline. This is one of the
biggest questions surrounding the incoming Trump administration's economic policy, together
with his plans to cut taxes and his plans and immigration,
and these are areas that would affect key industries, especially tech,
and yet we don't have a clear picture from what
we saw in this back and forth between the Post
(16:40):
and then Trump today. No matter what, industries are going
to be looking at what the tariffs could mean for them,
and it's really two key areas. One it would be
the increased costs of any inputs that they have in
their production lines. And the other thing that they will
be worried about is possible retaliation by US trading partners.
It could mean that US products, for instance, anything made
(17:04):
by Apple or other name brand American companies could be
hit or targeted in retaliation in response to anything that
Trump does. Now, it's important to note Trump still doesn't
take office for another two weeks, and this will take
shape over a matter of months, not just in the
span of the time between now January twenty.
Speaker 3 (17:25):
Mike shefferd it's going to be our daily dose until
that time, an onwards.
Speaker 2 (17:29):
We thank you so much.
Speaker 3 (17:30):
Meanwhile, let's talk about politics and take a little bit more.
One person within Trump's sphere, you know, Musk is now
under scrutiny by senior UK politicians.
Speaker 2 (17:37):
This after the Tesla boss.
Speaker 3 (17:38):
Made a series of inflammatory remarks accusing Prime Minister Kastama
of complicitly involved in a decades old scandal over child
sexual exportation gangs. Max Schaffkin, a blombag BusinessWeek joins US
fund more and look, this is following a barrage of
posts on his own social media platform x where he
has been calling for prior Minister kiss Stama to be imprisoned.
(18:00):
He's been urging with the release of Tommy Robinson, who
is a far right leader, and ultimately stirring up even
the surprising move away from Nigel Farage.
Speaker 2 (18:09):
He's the leader of the UK Reform Why is he
getting so involved? Well, I think two things are going on.
Speaker 12 (18:14):
One and probably the most important thing is Elon Musk
is stirring the pot on social media. This is somebody
who likes to be a provocateur. He basically goes wherever
there's heat. You know, we saw this during the twenty
twenty four election, where he's sort of spreading you know,
unfounded conspiracy theories, backing questionable figures. Really the same playbook
we're seeing, you know in the UK.
Speaker 2 (18:35):
The difference is, of course that.
Speaker 12 (18:36):
Elon Musk lives in the United States and has sort
of more explicitly engaged politically. Here we have a guy
who's not really doesn't have a ton of business interests
in the UK getting involved, you know, initially backing Nigel
Farage's party, now coming out against Nigel Farage. It really
feels like a combination of again stirring the pot, but
also perhaps having a real disagreement with kerstar Or over
(19:00):
some of these speech rights. Of course, X has had
you know, some back and forth with the British government
over you know, how he should regulate misinformation and that
sort of thing.
Speaker 2 (19:10):
Kis Dama now speaking back.
Speaker 3 (19:12):
He had been relatively silent, but now he says there's
a line that has been crossed, particularly when it came
to the safety of one of his own MPs.
Speaker 2 (19:18):
Just Phillips all.
Speaker 3 (19:19):
Regarding previous roles in the Crown Prosecution Service that when
he was leading, but away from the intricacies of really
what's going on in the UK, how does it affect
Ino must relationship with Trump going forward and the administration there,
because as we reported, these UK senior figures are coming
out and saying this is bad for US UK relationship.
Speaker 12 (19:37):
Yeah, I mean it's I do think people realize people
in the UK realize that Elon Musk and Donald Trump
are two different people. There may be a close relationship,
but you know, of course Trump is going to make
his own policy, and of course historically Trump has kind
of cultivated ties with extreme figures who would sometimes come
out and stir the pot and almost gives Trump a
weapon perhaps in dealing with UK politicians. That said, you know,
(20:00):
Tommy Robinson is a very extreme figure, a far right figure,
and I think it's you know, the sort of back
and forth with Farraj shows that it's possible that Musk
may have crossed the line. Maybe he didn't quite know
what he was stepping into.
Speaker 3 (20:13):
We'll see how this continues to unfold. Max trafckn all
things elon Ink. You've got to check out the podcast
as well.
Speaker 2 (20:18):
We thank you.
Speaker 3 (20:20):
Disney and streaming provider Fubo TV are nearing a deal
to combine their online live TV businesses. Now we understand
that Disney is going to be folding in its Hulu
plus live TV business into Fubo, creating a new venture
that will be owned seventy percent by Disney and the
rest by Fubo. It continues to be listed on publicly
traded benchmarks and Lucas Shaw is here too get into
(20:43):
what is actually a pretty complex deal. But the key
takeaway is Venue, which is the new sports offering, is
going to be able to go ahead.
Speaker 13 (20:51):
Yeah, Bubo had sue to block the debut of Venue,
which is a joint venture between Disney, Fox and Warner Brothers. Discovery.
They said it was a sign of the anti competitive
nature of these big companies because Venue was going to
offer a bundle of live sports channels in a way
that these companies wouldn't let Fubo do. The lawsuit proved
(21:12):
to be pretty effective for Fubo, right, they won the
first injunction or they want an injunction to stop it.
And now they're essentially getting acquired for a bunch of money.
Speaker 3 (21:20):
Bunch of money that sends shares rocketing my one hundred
and ninety percent the six point two million that they're
likely to now offer.
Speaker 2 (21:26):
How big is that?
Speaker 3 (21:27):
What does it mean in terms of how they can
survive the on and off switch of subscriptions around the
sporting dary.
Speaker 13 (21:33):
Yeah, so both Fubo and Hulu's live TV service are unprofitable.
To my knowledge. Fubo reports its numbers, Hulu Live Tv doesn't.
Six point two million makes it the second biggest among
the digital only PATV companies. It makes it, I think,
kind of number five or six total. You still have
YouTube TV, Comcast, Charter and the satellite companies ahead of it.
Speaker 2 (21:54):
Oh M and A.
Speaker 3 (21:55):
The watchwork for twenty twenty five, and it kicks off
strong with this particular deal. Lukashaw all in on the
consideration around convergence. Welcome back to Blue Meg Technology. I'm
Caroine Hid in New York. A quick check on these markets.
Speaker 2 (22:15):
We are higher.
Speaker 3 (22:16):
Substantially on the nasat one hundred, were up by one
point seven percent, and it's basically your magnificent seven that
lead us higher to the tune of Nvidia up to
a new record high. But you've got Microsoft, Amazon, some
of the key names in the biggest points contributors to
the upside. We're all in on AI and infrastructure, and
we look ahead to Jensen Wang and his keynote has
six thirty pm Pacific time later today. Bitcoin also on
(22:38):
file risk assets on the higher side, and we're up
four percent. One hundred and two still offer that record high,
but we've certainly been clawing back some of those prem
year's eve losses by coin one hundred and two thousand.
But let's dig into a company that isn't traded, TikTok
and it's darker side.
Speaker 5 (22:53):
Now.
Speaker 3 (22:53):
There's a lawsuit from the state of Utah alleging that
TikTok has long known its popular video live streams it
encourages sexual content including streams exploiting and quick grooming miners,
and that TikTok also discovered through an internal investigation it's
feature called TikTok Live facilitated money laundering and it allowed
users to sell drugs and fund terrorism. That's bring in
(23:14):
Bloomberg's Alex Levine for more Alex. That all of this
is after we finally get more detail on a lawsuit
brought by Utah and other states, but it's been relacted.
Speaker 2 (23:26):
We get to see the details. What did you learn?
Speaker 14 (23:29):
Well, to your point, all of this really is it
has taken a lot of time for this to come
to light. I reported on TikTok Live and some of
the issues that you've stated back in twenty twenty two,
we're now in early twenty twenty five, and so it is,
you know, it is the platform is much bigger now,
it is much more far reaching. There are much more,
(23:49):
you know, much younger of a demographic on the platform.
But what the internal investigation found, which was unredacted in
this newly filed complaint on Friday, is that TikTok was
very aware of a lot of the issues that we
had reported on on TikTok Live back in twenty twenty two,
except that the issues were much larger and much there
(24:10):
was much more scale to the issues than we were
even aware of. So they found that there were hundreds
of thousands of miners who were not supposed to be
using the TikTok Live future at all, who were not
only using it but also using it making money off
or making money off of it, and they were essentially
being asked by adults to perform sexual acts racy acts
(24:32):
in exchange for virtual gifts that can be cashed out
for real money.
Speaker 1 (24:35):
Now.
Speaker 3 (24:35):
In a response, TikTok says, this lawsuit ignores a number
of proactive measures that TikTok has voluntarily implemented to support
community safety and well being. They have taken measures since
your first incredible reporting that we think about that was
bringing it to light in twenty twenty two.
Speaker 2 (24:51):
But is it enough?
Speaker 3 (24:52):
Has enough steps been taken for Utah and other states
to feel like this is okay now?
Speaker 14 (24:58):
I think the timing of these lawsuits filed both in
June by Utah and then in September by a bunch
of other states that cited similar issues with TikTok Live
shows that it is not enough, especially against the backdrop
of what we are now seeing with the national security issues.
You know, TikTok is going before the Supreme Court in
this unprecedented hearing this Friday, and that is over national
(25:19):
security issues and the fact that TikTok may be banned
over those national security issues. But I think the child
safety issues far predated that, and in fact, the fact
that they are so prevalent on the platform, which this
unredacted complaint has now shown, makes the national security concerns,
I would say even even more concerning.
Speaker 2 (25:38):
And as you mentioned, this is a massive week for TikTok.
Speaker 3 (25:41):
We've got Friday the Supreme Court, we might be hearing
the details of whether or not indeed they do think
that well freedom of speech outweighs access to TikTok.
Speaker 2 (25:52):
Llor not absolutely. It's a huge week for TikTok.
Speaker 14 (25:55):
I think that everyone is very much looking to the
Supreme Court to see are they going to up hold
this law that is about to take effect or will
they stay the law, which means hit pause on it
while considering what they want to do with it. But
I think the fact that Trump's inauguration is just over
a week later is going to complicate things and it's
going to make it a very bumpy couple of weeks
for the company no matter how this plays out.
Speaker 3 (26:16):
And we're just glad that you're there to report on
all of it. Alexandra Levine, We thank you. Now let's
just keep the discussions going on TikTok it's potential ban,
and as you mentioned, the Supreme Court set to consider
the constitutionality of the law on an expedited timeline, arguments
scheduled for a special session on January tenth.
Speaker 2 (26:33):
Now, we want to be talking with a key voice
on all of this.
Speaker 3 (26:37):
Ivan Sharony is CEO for Route Security, a data protection
intelligence software company who is testified, of course before the
House Commerce Committee in the past, to explain how TikTok accesses,
how it disseminates personal data, and just remind us, ultimately, Ivan,
how it does.
Speaker 15 (26:56):
That's an excellent question, thank you, Carlin. Number one, how
does it? It's obviously through its app and secondly is
through a lot of something called data trickers that are
embedded into all kinds of websites Americans use every day.
So that's how they can access information, collect informations on
Americans that actually never even use TikTok app in their life.
Speaker 3 (27:20):
What's also interesting is the way in which you've been
trying to access and continuing to understand that those, yes,
you might have the app, you might therefore be vaguely
aware of some of the issues or risks that are
at play. But even if you don't have the app,
you continue to monitor basically how pixels or more prevalent,
even in things like Google Classroom, TikTok has been. Can
(27:40):
you understand can you help us understand how you performed
that and ultimately what it means for the prevalence of
TikTok across us people's data.
Speaker 10 (27:49):
Yeah.
Speaker 15 (27:50):
Absolutely. What is really concerning, what we've found is that
even over the last twelve months since TikTok was there's
so much scrutiny. What we've found is that the presence
of TikTok, for example, on a healthcare website had actually
increased by about thirty five percent in the last year,
rather than decreasing. And what is concerning is that those
(28:10):
pixel structures that are all over the websites that we
all use on every day, that they're collecting a lot
of information, whether it's like wood websites you use would
you enter into the websites where you're coming in, and
all kinds of information that is collected can potentially be
used for all kinds of nefarious reasons, whether it's for
(28:32):
targeting individuals or groups of people, or even potentially speculating
here teaching AI systems to be even more precise on
targeting American So it's a very very concerning on how
much data is being collected everywhere by TikTok on people
who never even use the app.
Speaker 3 (28:50):
So if ultimately the presence of TikTok trackers are going
up into the right of thirty five percent versus last year,
how impactful we will be removed moving an app if
it's affecting people who don't have the Apple Tool.
Speaker 15 (29:03):
Yeah, So it's definitely very loaded topic and a question.
So presumably if it is banned, the step one will
be obviously to remove the app it self from the
app stores, from Apple, Google and everywhere else is available. Secondly,
it's also removing it from all Americans websites, so making
sure that it's not collecting information on Americans outside of
(29:27):
the app as well. And thirdly, which will be an
ongoing task to ensure that it will never come back,
and frankly speaking, it's not just TikTok. There's a lot
more other information being collected by other companies associated to
China on Americans in addition to to TikTok as well.
Speaker 3 (29:45):
So iven just give us out of one to ten
how hard it would be too?
Speaker 2 (29:50):
It sounds easy. You just remove it from the app store,
you get rid of it on websites. But technically speaking,
how effective do you think this can be?
Speaker 15 (29:58):
It can be definitely very active. Probably a really good
illustration here is something that is happening in the payment
security in this credit cards being governed. You know how
you're paying online and how the security of your credit
card information is being governed. And what payment security is
doing is they've introduced something called the New Standard PCI
(30:21):
for which now ensures and mandates companies on a weekly basis.
It verifies that no unauthorized software, big pixel structors, anything else,
any software technology pieces are collecting credit card information without authorization.
So a similar approach can definitely help prevent TikTok or
(30:41):
other spying or you know, a data collection being down
Americans without authorization.
Speaker 3 (30:46):
I mean, of course, the Supreme Court matter is a
matter of law and interpretation, and there is politicking amongst
you know whether or not January the nineteenth will be
pushed out to post a new administration in the White House.
But can you set if you were having the air
of one Donald Trump right now, how would you articulate
how risky this is for everyday Americans?
Speaker 15 (31:11):
How risk it is. It has already been publicly admitted
and found and disclosed that information collected by TikTok was
already used against Americans, whether it was spying on journalists
and other cases that have been already reported in in use.
So it is already happening, and is it happening on
a larger scale very likely. So in terms of the
impact data being collected and shared potentially with the adversarial country,
(31:36):
is it a risk in my personal opinion, yes, it
is a very high risk.
Speaker 3 (31:41):
Well, certainly your evidence gave sway when you gave it
on the House as well, Ivan SARENI, we thank you
so much for youo for security on all things TikTok. Meanwhile,
coming up, how Microsoft is using its venture fund to shape.
Speaker 2 (31:53):
The future of AI.
Speaker 3 (31:54):
We've got Michael Stewart, managing partner of N twelve here
that's next to rebtechnology. Microsoft it's making a major AI investment,
(32:17):
announcing it will spend eighty billion dollars on data centers
over the next year. The company wrote previously that not
since the invention of the electricity has the United States
had the opportunity it has today to harness new technology
to invigorate the nation's economy. Now, Microsoft is also investing
in AI through its venture capital fund M twelve, calling
it the defining technology of our times. Please therefore to
(32:39):
welcome Michael Stewart, managing partner of M twelve, who has
been at this AIML hardware software investment for a long time. Michael,
and we're pleased to have you. So, where are other
than the AI applications? I want to just dig into
that idea of data centers and the commitment of money
towards it. Where are innovations happening within the data centers?
Speaker 7 (33:01):
Yeah?
Speaker 16 (33:01):
So, uh, the the the demand that we're gonna see
for AI as as some of these applications start to
roll out this year and the next year, is is
gonna really accelerate. And it's key not just to have
an AI that's available, but it's also performance, affordable, secure,
and and in in In doing that, it's not just
(33:22):
about building out more GPUs, more data centers, but actually
increasing the quality of the AI output to be UH
suitable for enterprise use. In that and in that sense,
what we're seeing right now is building out kind of
the foundation for a lot of different places for technologies
to plug in to make this AI better for for
its customers.
Speaker 3 (33:42):
I wanna talk optimizing of applications, but can you go
to the optimizing of AI infrastructure right now and where
you think some of the most exciting moves forward have.
Speaker 16 (33:51):
Been Efficient chips are are are clearly an opportunity to
address not just the uh the space and the racks
that we have to put, you know, in the data centers,
but also the power that goes into them. And you
know that's one of our portfolio companies, d Matrix that
makes an innovative in memory compute architecture for AI inference.
(34:13):
The compute and memory are are are kind of combined
into one in a new architecture that also uses chiplets
or heterogeneous integration to flexibly maximize the performance of the
silicon that you need in.
Speaker 3 (34:26):
A given card, and that in many ways affects the
energy usage as well power needed And I know energy
innovation is another key area of yours, Michael, but taught
us there for about how we're going to use it.
In twenty twenty five, all I hear is agents, agent, force, agentic.
Speaker 2 (34:43):
No matter how you term it, is it all about agents.
Speaker 16 (34:47):
I'm not gonna sound too different from that. I'm a
strong believer that this year, the quality of the AI models,
the architecture of the agentic applications, they're going to get
better and better and attract more attention from companies that
want to use them to address their own.
Speaker 9 (35:07):
Costs and scaling needs. And we're seeing this come in
two directions.
Speaker 16 (35:11):
Startups that are creating agents or platforms for agents and
selling them as services, a sort of SaaS model. The
other is the use of the AI itself in these
small companies. Is is something to really start to look at.
These founders are building the companies with an AI first
mindset that's really quite different. But it's also going to
(35:35):
inspire and stimulate larger companies to take note at the
efficiencies enabled and adopt this into their own uh their
own infrastructure.
Speaker 3 (35:44):
But I feel like the larger software players have already
got the memo and you're seeing the likes of sales
Source go all in your who knows where, of course,
Microsoft be able to push forwards with its co pilots.
Speaker 2 (35:57):
How are you seeing the opportunity of the.
Speaker 3 (35:58):
Startups to be able to innovate faster or in a
more niche manner.
Speaker 16 (36:03):
And fast, you know, as you use word fast, velocity
is the absolute definitive trend of this era. Everything's moving faster,
Companies getting form faster, funded faster, growing revenue faster, and
agents as they mature and as they become part of
the everyday makeup of these companies themselves, are you know,
(36:27):
at the same time the product but also the organizing
principle of these companies. And I think that's a different
way to look at this from where we expect to
see SaaS revenues build up over time as it happened
in the in the prior couple of years software investing contexts.
To today, the companies are able to accomplish far more
(36:47):
with a much smaller team, reach revenue targets far greater
than we had expected, and I think they're going to
be profitable much sooner than we had otherwise thought possible.
Speaker 3 (37:00):
Fast doesn't always bode well for deep analysis and doing
your corporate governance tease trust and as dotted, how are
you ensuring that the return on investment that it seems
to be evident is actually happening and it's actually going
to be resigned that these companies aren't just scaling very
quickly over a quarter, but they're going to maintain that
(37:20):
user base for the next year and the next year.
Speaker 16 (37:24):
ROIS is the key theme here is like, if you
are a founder and you are creating an AI product,
this isn't just about creating a white paper that your
customer might read to see where the ROI could plausibly
occur in their organization. This is really an opportunity for
those founders to go out and drive those pilots themselves.
(37:47):
The customers will see these savings hit their bottom line,
thereby driving more consumption of AI. And I think that
kind of virtuous cycle is a really big difference from
prior eras of a where the savings might come in
a defrayed expenses or defrayed capex point of view. Here
(38:08):
it's about getting higher return on capital, higher return on
the company's operations. And I think as a startup you
really have to get serious about the intellectual honesty of it,
and your customers must agree with you. Those those startups
that are able to accomplish that are going to grow
ten times faster than the norm.
Speaker 3 (38:27):
Well, we know that you'll takes one to know one,
or you're a guy with more than forty patterns of
your own, so appreciate your time. Michael Stewart, managing partner
of M twelve. Of course Microsoft VENTUREM. Meanwhile, it's time
for talking tech first up in video partner on High
It's posted a fast than expected fifteen percent revenue growth,
that is as the company rides a sustained demand for
AI infrastructure. The company, also known as Fox Gone sow
(38:49):
December revenue rising forty two percent, which really did beat
anast expectations, and expects significant sales growth in the fiscal
first quarter two plus. TDK, the main supplier of iPhone batteries,
says it plans to roll out an improved version of
its product to help mobile devices keep up with the
rising power demands view guests at ai now. The Tokyo
based company says it will begin mass production of its
(39:10):
third gen batteries in the late summer and Samsung is
expanding its AI reach, adding.
Speaker 2 (39:16):
A new suite of features to its line up.
Speaker 3 (39:18):
A premium TVs now the Electronic strand is set to
introduce Vision AI. It's allowing information to be displayed of
what's on the screen. Other features include a built in
AI processor to analyze content whose colors and contrast, and
optimized audio Tube. Today, we bring you the latest from
(39:41):
an exclusive Bloomberg BusinessWeek interview as with the Open Ai
CEO Samalman. In it, he discusses his infamous Forda firing,
how he runs open ai now, his plans for the
Trump must presidency, and of course, his relentless pursuit of AGI.
Here for more Bloomberg Smart million Who's part of what
is very deeply reported out Q and A. So it
(40:02):
starts with all like, what were the key dinners, What
were the key moments him sam Oltman discussing the time
that he sat down with Elia really started to think
about building AGI.
Speaker 2 (40:11):
What for you was the biggest like jaw dropping moment
of the interview?
Speaker 7 (40:15):
Uh?
Speaker 17 (40:16):
I mean, I think the thing that surprised me the
most is when he's given like the opportunity to talk
about what what are your what are your big ambitions?
Speaker 9 (40:24):
What what do you want to solve?
Speaker 17 (40:25):
He talks about fusion energy like that that's that that's
the one thing that he I mean, you know, obviously
he's focused on creating super intelligent supercomputers and artificial general
intelligence and all these uh, you know, wacky ideas that
they're working on in open AI. But he's got this
big investment in fusion energy, which is like sort of
a kind of a scary.
Speaker 9 (40:47):
Concept to a lot of people.
Speaker 17 (40:49):
That and and also one that like is it is
it even really going to work? Has science really proven
that fusion energy is like going to solve all of
our energy shortage issues?
Speaker 9 (40:59):
But like energy is a big kind of need for AI,
which you know sucks up so much electricity.
Speaker 3 (41:08):
Well, he's not afraid to be way ahead and trying
to solve the unsolvable. He really details how back in
twenty twelve he's sort of a heretic for even discussing AGI,
and people didn't want to talk about it with him.
But what does he ultimately think that this is all
for the greater good? Is there a utopian idea here
as to why we need nuclear fusion, why we need AGI?
Speaker 17 (41:27):
Yeah, I mean there's also a lot of ways that
any of those things could go wrong, but he is
I think you'll see it in the tone of the interview,
and you'll you'll find it when you read this.
Speaker 9 (41:38):
It's it's a long read, so, but I think.
Speaker 17 (41:42):
The context is important with someone like that who's in
such a big position of power, that you kind of
get a sense for who he is as a person.
And he is an optimist and he does believe that
the things he's working on he can shape them for
the better.
Speaker 2 (41:55):
Even with a new administration.
Speaker 17 (41:57):
Yes, and that was that was a that was ak
of the interview, especially in the latter half. You'll see
we talk about his relationship with Donald Trump, who he's
previous previously had differences of opinion with his relationship with
Elon Musk, who that it's very strained, a co founder
of open ai now suing open Ai, and his his
(42:19):
optimism very much extended to the idea that he'll be
able to repair those relationships and have a working relationship
in the new administration. He's asked about his donation to
Trump's inauguration and and you know, of course, he's like,
I support whoever the president is, and yeah, I mean, I.
Speaker 9 (42:44):
Found that all very fascinating. His view on politics me too.
Speaker 2 (42:47):
Go read it. You've got to see Mark million there
on the latest big take.
Speaker 3 (42:51):
Now that does it for this edition of Blue meg
Technology Tomorrow yet more, all from.
Speaker 2 (42:56):
CS in Las Vegas tens Huang. Don't miss it.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
New Heights with Jason & Travis Kelce
Football’s funniest family duo — Jason Kelce of the Philadelphia Eagles and Travis Kelce of the Kansas City Chiefs — team up to provide next-level access to life in the league as it unfolds. The two brothers and Super Bowl champions drop weekly insights about the weekly slate of games and share their INSIDE perspectives on trending NFL news and sports headlines. They also endlessly rag on each other as brothers do, chat the latest in pop culture and welcome some very popular and well-known friends to chat with them. Check out new episodes every Wednesday. Follow New Heights on the Wondery App, YouTube or wherever you get your podcasts. You can listen to new episodes early and ad-free, and get exclusive content on Wondery+. Join Wondery+ in the Wondery App, Apple Podcasts or Spotify. And join our new membership for a unique fan experience by going to the New Heights YouTube channel now!
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.