>> from the heart of where innovation, money and power collide in silicon valley and beyond, this is bloomberg technology with caroline hyde and ed ludlow. ed: i'm ed ludlow in san francisco. caroline hyde is off today. netflix makes a big push into live events the $5 million deal for wwe raw. we stick with netflix pushing

ahead to results after the bell, a read on what to expect from tech earnings this season. samsung exploring development of a noninvasive blood sugar monitor to compete with tech giants like apple in the race for wearable dominance. there is one main big story this morning and it is the deal with tko, parent of wwe. sources telling us it is a $5 billion deal over 10 years. monday night raw live on the platform starting in january of 2025 but outside of the u.s., exclusivity on a number of wwe brands and pay-per-view events in new markets meaning new eyeballs. i sat down with wwe president nick con. listen to this. nick: we love the fact netflix was able to take a risk with us.

they were not able to sports rights. as you said, we are entertainment property is much as we are a sports property. 52 weeks a year live consistent program and an audience that is quite global. if you look at india, it is not part of this deal but if you look at it we are the second most popular sport in india. if you look at the united kingdom where the fourth most popular sport there. this deal will take effect in the united kingdom. it allows us to gain even greater global footprint as we look to expand the business. >> i want to talk about the decision to go with netflix, go with the streamer versus staying with a comcast. does this come down to numbers where you will get the better deal or is this a debt on where the future eyeballs will be? nick: we continue to love nbcu. we have smackdown premiering in

october there. we have live events on peacock exclusively in the united states. for us with raw it was another test in the space. an established streaming entity, it was a good bet by us. >> let's talk about add pricing more. does this give you greater add pricing power this deal? nick: we think so. you see what amazon has been able to do on their ad supported tear. netflix is going to have great success in that space. wwe with three hours a week on raw allows netflix to monetize this deal in the advertising space in a way that has not been seen before. ed: raw has this super loyal and sizable audience but there must be part of this deal where you think ok we need to think of the future and growing the audience. i wonder if there are terms of

the deal where netflix goes away and produces behind-the-scenes documentary exclusive to netflix that introduces wwe to that new audience? something like drive to survive in formula one and the success they had bringing in the sport to the new audience. nick: it would be a mistake by us to not do that with netflix. so assume that what you said is exactly what we are all thinking. you saw with drive to survive and formula one, we think the wwe audience on a global level only gets bigger with a show like that. ed: that was wwe president nick khan. we bring in hang media ceo who also served as the former president of cnn. you know live entertainment, live sports. this is very interesting. i don't think anyone saw this

coming, this structured deal nor the duration of it, nor the properties themselves. just your reaction to what netflix has done. >> netflix has to do things like this. they have to do more of them and that's because what is driving streaming use on consumers is not those high-end expensive dramas that netflix is famous for, it is free or low cost ad supported television basically. it is the same shows you used to watch on cable systems. people are now streaming in droves. and what's driving that behavior is predominantly sports and news programming. so they had to get into this space. hang is a sport streaming platform that let's fans watch games on tv alongside famous athletes and celebrities and we drive ridiculously high numbers of viewers, 650,000 per event

plus 60% of them are 18 to 44. exactly the gen z and young millennials who all sports advertisers and teens want to reach. that is who netflix is trying to reach now. netflix is trying to launch an ad supported tier. they had a bumpy going at the beginning. it seems to have at least stabilized now. they have something like 23 million monthly subscribers now to the ad supported tier. that represents about 30% of yearly sign-ups so that's good but it has not been easy. if you are running ad supported business you have to have sports. look for them to try to do something in news as well. >> ed: let's take a look at the shares. netflix is higher 3/10 of 1%.

tko is up 17%. we use that to ask who got the better deal. we are reporting citing sources that it's 5 billion over 10 years. when comcast paid 200 65 million a year for the rights it wasn't seen as a very good deal. in this instance who got the better of it? jon: i think they are both winners here. it brands wwe as forward thinking. putting them smack in the middle of the streaming conversation. gets there hot property out of the cable world. on usa network it was the number one show on that cable channel. it's great for them and the future growth possibilities as nick referred to. i've known him for a long time and he is a savvy dealmaker. at the same time it's great for

netflix because it just pumps them with some very current product that is hugely popular across a lot of demos but certainly younger, a lot of latinx viewers are driven to wwe programming as well and as you have alluded in your earlier interview the programming possibilities around all the characters, imagine being able to do their version of the last dance documentary with those characters. ed: sorry to interrupt, you are talking about winners. i want to talk about a potential loser. i'm looking at shares of disney that are down 1.4% and it raises the question where is disney, espn in this idea that live event calling sports or live entertainment will go to streaming platforms? jon: they have been very vague

about their streaming plans. they have said we are working on a pivot from linear cable delivery into streaming what we will not have an answer until 2025 which is like saying forever in the words of digital. everything accelerates exponentially and so they've got to be scratching their heads and trying to come up with a strategy that is going to work. what puts all of these players in jeopardy, netflix included, is the runaway behemoth that is youtube. youtube is by far the biggest tv network on earth. they have something like 122 million daily users. 2.7 billion monthly users. that just dwarfs a couple hundred million here for the other streamers.

they give you the product for free for the most part, you can subscribe to premium, but most users are just accessing for free. netflix will still charge you six dollars a month for the ad tier, it's not free. what all of the streaming platforms have to do is figure out a way to take a share from youtube or borrow from their model better than they have been. ed: john kline of hang media, quick reaction to what is a big story. the news came out this morning, but after the bell netflix posts its quarterly earnings so let's get to that. let's park wwe for a moment because we came into this quarter saying netflix could post some big overall numbers here. >> absolutely.

expectations coming into this quarter are really high. that's because management said expect pretty strong growth on the back of those initiatives. just speaking about the advertising tier that's a huge initiative for them as well as the password sharing crackdown. you are seeing pretty good subscriber numbers. we saw them in the third quarter and are expecting another nine to 10 million new subscriber ads. if you look at 2023 netflix would've basically gained 25 million subscribers. that puts them in that pre-pandemic level. last year, 2022 it was eight or 9 million new subscriber ads. now in 2023 they are getting back on track. the question is what is next. what's the catalyst for the start. ed: let's ask that question. i watched rebel moon part one.

so then go back to w w e. the content pipeline is important, but this is a deal that does not kick in until 2025 with news overnight that the film chief is leaving to go elsewhere. geetha: that's a really interesting point you bring up. netflix a few weeks ago released to this first really detailed, what they call what we watched engagement report where they basically said who watch what over the first six months in 2023. we learned from that report was only about 55% of the top titles where there were originals. 45% is licensed content. when we think about scott leaving, it goes to show licensed content can still play a huge role for netflix and that's what we've been seeing. we saw that massive phenomenon

with suits which had this huge audience base, back and bring interest to a show that was airing on arrival tv network. we've seen so many of these other titles whether they are movies, some of the older max shows. all finding this audience base with netflix. licensing old content can also work really well so they don't necessarily need to make huge bets right now but they do need to get into diverse content to attract the advertising and that's what this deal with tko is all about. ed: suits is a fan favorite of everyone on team bloomberg technology. bloomberg intelligence analyst, standby netflix earnings after the bell. we will get the big picture out for tech earnings overall. and in the earnings context

shares of verizon and texas instruments. very analog focused for so many end markets. interesting performance, it seems this kind of turnaround is working. those shares up more than 5%. what a start to the tuesday. this is bloomberg technology. ♪ an ever-changing landscape comes with challenges. from our vantage point, we see opportunities. as a top-ten real estate manager, we harness the power of a 360° perspective, delivering local insights and global expertise

across public and private equity and debt. our experienced team and vast network uncover compelling opportunities giving our clients an exclusive advantage. principal asset management. actively invested. (upbeat music) there's more to business than the business you're in.

if you use data, that's the privacy business. manufacturing on demand? you're talking cloud business. got a few million hyper-connected customers? digital experience business. that was fast. that's where deloitte comes in. with the right combination of talent and technology to help advance and connect all that it takes to excel in business ... to the business i'm in. deloitte. ed: it's kind of this tiptoe tuesday when it comes to financial markets.

equities stuck with a ranges. earnings is a big factor this week. technology in particular, verizon was out this morning. next up, texas instruments later in the week. we've been talking about netflix. at the next level nothing crazy in terms of movement and in the back of our minds we are thinking about the fed and what they will do over the course of 2024. joining us now to get through this is we family offices joining us out of miami. we started this week focused on the magnificent seven. this idea they were where you wanted to be in 2023 but if you look at the earnings season ahead the expectation is that we'll have growth of 46% and it doesn't seem to be any earnings growth elsewhere other than maybe utilities. do you have to be in the magnificent seven for the rest of 2024. >> no. i think we are heading into a

goldilocks scenario, inflation, and down, gdp growth for the third quarter was 4.9%. they estimate it will be about 2% for the fourth quarter, unemployment is low, wages have risen higher than inflation. two thirds of the u.s. economy is consumer led so i am very bullish for the 7500. ed: every time you and i have talked over the last 12 months you go a bit deeper on the technology sector into subsectors and say i have a thesis here. let's take for example semiconductors. what is the 2024 semiconductor call for mel? mel: i think semiconductors will continue to be strong, the whole health care sector can have huge profitability for the use of

artificial intelligence. i think we will start to see how different sectors will start applying artificial intelligence, not just in terms of recirculation but the ability to empower employees and so i think it's can it be much more than the tech stocks. i think regular companies, industrial companies, consumer stable companies have the potential to have much more productivity as a result? we are in the beginning stages of what's good to be a transformational technology for all the industry. ed: how do you use ai every day? there is the investing side and where you can add capital and then there is you wake up and think how do i use ai today? mel: if you think about it we are using more and more ai tools to actually take care of a lot

of administrative tasks that are very talented people are doing and now you can leverage that so they can use your full balance instead of spending it on administrative tasks. i think that's just a small sample of what ai can do to leverage every single company and the way they use their talent. i don't think, i'm not one of those people that worries about white-collar workers losing their jobs. i think ai will empower and lift white-collar workers to do a much better job. ed: there are certain sections of the technology subsector that are sensitive to rates. higher rates discount the present value. and right now the market seems to be shrugging off a pretty constant stream of fed speak that is warning us about our anticipation and the timing and

depth of rate cuts. why is the markets not listening to the fed? mel: i think we've been in this before. between what the market says and the fed is saying for months now that's what causing volatility in the market, i personally listen to the fed. i think in spite of what the market would like i think the fed is taking its time and making sure the data and the lag effect of the interest rate rises. they really understand what the data is saying. but they will lower rates. it just might not be as fast as the market expects. ed: for this year, how top of mind his geopolitical risk? i go straight to china in my mind when i think about the supply chain also demand side of

that industry. mel: china's economy is really not doing well. i think this latest stimulus that the chinese government tried to stabilize the stock market is knocking to work. because there's fundamental economic issues in china starting with the real estate sector but also the finance sector. i think the interference of the government in the business sector has really chased away a lot of foreign investors the locking the kind of governance we are used to seeing has chased away foreign investors and they played a big role in china. i think it's different with china. the geopolitical issue i think most people worry about is that's can happen with the u.s. elections. having said that we did a study of what happened with every shock in the stock market starting from world war ii all the way through the israel hamas

situation and the stock market reacts emotionally initially. six months or a year later. ed: sorry to interrupt we are short on time. the question from our audience it's tuned in right now. if ai can help white-collar workers in the u.s., what are the implications for those industries that outsource the work to workforces in india for example. >> i think some of that work will come home? i don't think we need to outsource. i think it's going to be a huge boon for the u.s. economy and for our friends that are closer to us. i think we are going to focus more on resilience than the cost. >> we always go so broad when you join me on the program. thank you for your time today. from san francisco let's go back

to those earnings and get back to the bloomberg technology news. thank goodness the sun has come out in san francisco after a few dreary days of rain. let's put things on the west coast. this is bloomberg technology. ♪

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ed: time for talking tech. once considered the most valuable startups in the world seeking to raise $100 million in funds in evaluation of less than $2 million to ease financial problems. that's down from its last round in 2022. ev sales growth may be slowing but investor enthusiasm is not. the software startup raising $87 million in venture capital to expand business across europe and the u.s.. and adopted audio message of president biden urging voters in

new hampshire not to cast their ballot in the democratic primary circulating over the weekend. the deepfake alarmed the world's disinformation experts. a deep dive in the e-commerce platform. this is bloomberg technology. ♪ it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david. connect with an advisor to create your personalized plan. let's find the right investments for your goals okay, great. j.p. morgan wealth management.

ed: welcome back to bloomberg technology. a very quick check in on the markets. nasdaq 100 not doing a great deal in this current session but the context of this week is earnings. netflix after the bell tesla 24 hours. it's becoming more of a consideration for the market broadly and there are high hopes for the magnificent seven, of the question is do we see earnings growth and key metrics when it comes to the much broader name in the technology sector. we've talked about less for

amazon. a story breaking overnight, the watchdog is looking at amazon it's a system put in place over employee surveillance monitoring the work activities and work performance of those employees. a $34 million fine. we seemingly paired those losses for the trading. another story in the context. teemu is known as a destination for younger consumers. the chinese e-commerce app is attracting hordes of bloomberg and gen x shoppers, let's bring in bloomberg's bloomberg in chief, spencer. this is surprising when i hear

about this from all kinds of people we suggest a younger audience. what does that tell you? spencer: that was a surprise for us, especially mobile e-commerce platforms attracting other shoppers glued to their phones. the most loyal shoppers in that category 59 and older. that monitors credit card transactions. when you feel it back you do see there are a lot of gaming aspects on the app. you almost feel like you walked into a las vegas casino. it does make sense older shoppers are drawn to it. ed: what's interesting is it has been operating in the u.s. for not that long and one of the reasons i love your reporting in the context of these e-commerce

companies is you go out into the real world and speak to people using the platform. what did you find out and who did you speak to? spencer: we spoke to one woman out here on the west coast. she said she was introduced to it by her mother's in the 70's. she said there's great deals on here, i can spend freely. vases, home goods, winter hats for her children and she also bought some soap dispenser and part of the fun was she know some of the stuff show up and just be absolute garbage. a lot of things she bought are quite nice but the image when it got to the house was just a piece of junk and all she could do was laugh. ed: spencer, terrific reporting out there in the real world.

let's stick with that data and bring in brian mendel bomb which minds credit card data from a power of around 6.5 million consumers and again the firm behind the report just outlining. it's an interesting finding. for ages, for 12 months we believe teemu was a hit with younger generations. let's start by explaining the methodology of how you brought the data around. >> is a commerce data platform that enables outcomes both driving outcomes and measuring outcomes for brands and advertisers. retailers who can see insight there and therefore while shopping experience, attain has over 6.5 million consumers with their consent are sharing sales behavior at its basket level

information and with that data gives us an unrivaled view of how consumers are actually spending their money and their behaviors in real time across retail and every sector of the u.s. economy including channels we are talking about today. ed: don't get me wrong, i'm a young man and sometimes when i go on to an e-commerce platform i look at the basket size and say stop. but if you look at the data, of the transaction side is different between somebody that a category would fall into, it's not that different in terms of dollars spent. brian: not that different in terms of the dollar spent it's the frequency in which these boomers and gen xers are spending on the platform.

what's really surprising if you think about it is you would think this would be for the gen z economy because they are anchored in social media. it's their primary source of content consumption, but in this retail e-commerce environment that's been evolving going through somewhat of a renaissance. suggesting digital is nuanced when it comes down to it. every facet of the economy has a different market and a different niche and advertisers need to rethink their engagement strategies they want to encounter more market share outside of the economy. ed: the data helps us understand teemu but in isolation. have you got any data that helps us understand temu's performance in this market against other players like amazon but also -- brian: our research looked at

amazon prime days and how they were doing during the holiday season. we saw the initial get goes of the holiday kickoff that amazon sales were relatively flat and arguably we are talking about a small base but it's been around for a year, a year and a half and growth has been explosive over that time, we are seeing what is the remarkable points around our retailers going to have to strangle like amazon target -- have the strangle on u.s. consumer when it comes to quick commerce or new entrance being in the market and solve a unique need different segments in this fractured retail economy. >> what does the real-time data tell you about the direction for temu as we move past the holidays? >> let's take a step back.

what the interesting impact here is companies will have on u.s. retail like walmart and amazon will consumers lean on quality and brand equity or will we see a race to the bottom? retailers with the low prices really compel consumers to test this market and the game of occasion spencer talked about, it's too soon to tell that i will tell you from our data we are seeing massive impacts of them entering the u.s. market and stealing share from all parts of the generational spectrum. ed: ceo of attain with their data on how temu is doing in the first 12 months. coming up on bloomberg technology we will look at

investing in europe with plural platform, that conversation happening next. shares of and and intel, both getting upgraded, intel getting the 45 price target while and seeing that raised to $200 a share but not doing much to support things in the short term. this is bloomberg technology. ♪

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>> let's dive into the venture industry. in europe the spotlight guest

one of the cofounders of fintech companies wise and partner at plural platform which just raised a new fund just 18 months after its debut fund and the timing of the second fund is industry -- interesting. the venture industry had mixed fortunes in 2023, just explain the rationale for the funds after the last? >> we have spent the past 18 months investing for it we may 26 investments. and we are getting ready to raise that. for us it tends to go back on the market and that will continue and really what were doing is were looking for the most ambitious european numbers. >> talk to me about the lps. your europe based fund. it's a sizable, where did the money come from? >> most of our money came from institutional investors.

a lot of them are endowments. it's a classic tier one. ed: what do you think is their motivation for wanting to put capital into a venture fund right now? taavet: what we are building is quite new for europe. in europe there are very few venture funds where all -- the client partners of all built businesses is a key reason why people are interested in investing and we are coming to a point where europe is punching at its weight. we are at a number of new companies has surpassed the number of companies into the u.s.. i think investors are very excited to see a lot of companies coming from europe a lot of very big companies in the past decade. >> where is the next big european name, those of the kind

of darlings of europe? many of them focused on fintech. but the magically what areas do you see opportunity in? taavet: europe is a large continent and there's a lot of different verticals that can be built here. we are seeing a lot in climate and energy. there's lots in deep tech we have companies, proxima fusion and obviously we can get done without mentioning ai the way it is attacking different verticals. helping lawyers get away from the drudgery and do more productive work. in the health care sector helping nurses be more active. i think we will see successes come from a variety. i think what combines them all is ambitious founders looking to build consequential businesses.

ed: a company -- robin ai is known to us. it's interesting because openai is an example of a start up that's taken on a giant. they think the integration of the technology into existing microsoft office but here in the united states it is microsoft, amazon leading the charge. i always think about it as little and large and you can assess the chances that europe has of bringing a big ai player to the fold? >> i think there's a lot of ai talent in europe. you look at some of the past announcements for example about technology and you look at the applications. i do not believe that openai can do something. would we are looking to back is companies that have proprietary

data and these verticals i am convinced europe can build some of the champions. >> i'm interested in plural platforms. you have personnel in london. what is it like running a venture firm that's pan-european. how do you employ day-to-day? taavet: the nature of europe is it's a number of different ecosystems. if we look at clusters in europe we have u.k., germany, estonia. it's really a question of being in touch with people in all of these different ecosystems and making sure that most emissions know there is a place to come for capital right now. >> is there one particular city that you visited recently in europe and you thought there's something here in terms of technology with what's being built. >> we have done two deals in amsterdam recently.

i think that something i would not have guessed. i put them on a map as a rising star. >> what were those deals? tell me about those technologies. >> one of them is a particle printer. we will talk about this very soon. >> leaving us with that tease. you'll have to come back to the program when that is announced. thank you so much for your time. coming up on bloomberg technology, jack ma has been buying up shares in the company we discussed what that means for alibaba next. sticking with asia watching shares of samsung which is exploring the development of blood sugar monitor that does not break the skin. the company has been setting its sights with other tech giants in the health space like apple. this is part of a broader accurate -- effort to put them in a range of devices like the

recently announced galaxy brain overnight. also looking at erickson, and equipment maker out seeing weak demand in 2024 as investment is unsustainably low. the company ceo told bloomberg they will do what they can to cut back on costs. this is bloomberg technology. ♪ (upbeat music) there's more to business than the business you're in. if you use data, that's the privacy business. manufacturing on demand? you're talking cloud business. got a few million hyper-connected customers? digital experience business.

that was fast. that's where deloitte comes in. with the right combination of talent and technology to help advance and connect all that it takes to excel in business ... to the business i'm in. deloitte.

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>> today is going viral. oscars nominations are out and trending online. i see it trending on nexen the united states. real-time trends. top of the tree. there are some major names getting snubbed after going viral all summer. barbie missed some big ones. the director did not receive a nomination for directing the billion-dollar film and margot robbie also missed out for best actress. however the movie is contending

for best picture and ken actor ryan gosling got nominated for best supporting actor. i'm also looking on social media and google and many of you making your views known on some of the oscar snubs today going viral. the academy awards we held on march the 10th. and hosted for a fourth time by jimmy kim. another big story we are watching, alibaba shares jumped after the new york times reported that founder jack ma have both been bumping up shares in the company. joins me for more. that is a kind of story is oldest time. executives buying up shares of companies. in jack ma's case, that is interesting given his current and historic relationship. >> definitely interesting. we have them mapping up shares in the fourth quarter. the stock price plunge.

u.s. traded shares, the vehicle that's bloomberg -- blueprint management. we have him buying in the fourth quarter. not giving up his executive chairman ruling. he is still a major stockholder. to your point this is kind of complex. too many investors. it reflects the belief that maybe alibaba is still undervalued. shares fell sharply. as sharp as 80%, alibaba's market cap rate at 175. and in 2020 around 850 million. that's really a huge trade there. >> it is worth reminding the bloomberg technology audience but what were talking about now is a gain on the u.s. list at shares of alibaba or the american depository receipts. it is the china tech darling. it has been and behind the

scenes there's been some executive shuffle that you and i have talked about over the last few months. >> this game today is the most since august. the stock has fallen over 43% in the past 12 months. alibaba use to be the crown jewel of china but now it's fallen behind by how -- behind the likes of tencent this is a rare public intervention last year posting on the public forum in his company that alibaba should maybe course correct and he praised them for a job well done and it just goes to show you this is like a nudge on the shoulder for alibaba. he said alibaba could be successful again. >> i was reading the new york times report and there is a rationale behind the current buying, what is it according to that report? >> the new york times report saying it's not just alibaba because overall if you look at the benchmark index, the index

at its lowest in five years. this is why chinese authorities are -- they are looking around 270 billion so that's a significant amount under looking to buy from offshore accounts of chinese companies but if you ask investors some of them are kind of disillusioned were not feeling as optimistic because they said this may spark a little rebound but it's the fundamentals that need fixing. ed: isabel lee on alibaba's u.s. shares. currently up around 7%. the biggest jump since august of 2023. that does it for what was a packed edition of bloomberg technology. a big thank you to everyone checking out the podcast. if you listen on your way into work or apple or spotify we are posting the podcast to the bloomberg platforms as well. two days into what is quickly becoming a week about technology

earnings and that's what the conversation will be on this program. from san francisco this is bloomberg technology. ♪ get help reaching your goals with j.p. morgan wealth plan, a digital money coach in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the way. wealth plan can help get you there. ♪ j.p. morgan wealth management.

katie: live in new york. welcome to bloomberg crypto, look at the people, transactions and technology shaping the world of decentralized finance. now that the coin derby is in full swing we get an update on who is winning the flow rate for spot bitcoin etf's, how it might be way on the coin price. snarly: we look to the next event, we speak with a mining