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tv   Bloomberg Technology  Bloomberg  February 14, 2024 11:00am-12:00pm EST

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>> from the heart of where innovation, money and power collide, this is bloomberg technology with caroline hyde and ed ludlow. caroline: i am caroline hyde at the world headquarters in new york. ed: i am ed ludlow in san francisco and this is bloomberg technology. caroline: we sit down with the ceo of lyft to run through the results and break down the clerical error that led to a 67%
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surge in its shares. ed: plus we are joined by the openai chair and former salesforce ceo as he raises 110 million dollars to bring ai agents to business. caroline: fighting talk from mark zuckerberg as he personally reviews apple's vision pro and are his takeaways not good. we will discuss that and so much more about first let us check in on the markets because some reprieve after yesterday. the selloff and cpi print. it looks like we will be pushing these stocks a little bit higher with nvidia and other companies on the upside. i dig into the detail of individual companies that have reported and airbnb is managing to post a strong fiscal quarter. but are we seeing some moderation in terms of ultimately seeing room rates take up. and also they had a run-up in the stock anticipating the numbers.
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uber giving money back to the investor base. they had a strong quarter and posted it and after an investor meeting they are giving us a share buyback driving the stock almost 12% as they managed to be bringing profitability and then back to the investor base. let us look at what is happening with lyft. what an extraordinary day yesterday, earnings posted but an extra zero crept into the margin forecast. that was clerical error, they call it. we rose up to 67% and sunk back down. we are trading higher on lyft but the margin becomes a margin overall and we have to dig into the growth of the business and how they are giving back to consumer. a key conversation that we are about to have now. ed: welcome to our tv and radio audiences. joining us on the fourth quarter earnings is the ceo, david risher, and a clerical error,
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what happened? david: it is on me, they are eyes on the press release but on me, my bad. i do not want to take it away from the but kicking performance that the business did thanks to the employees and millions of drivers. we had our financially strongest quarter that we have ever had and i am super excited about it. ed: to be clear, this was simply a mistake? human error? the stock rose as much as six and 7%. it is significantly higher this morning and we can talk about the performance in the quarter gone and the current period. it might sound bizarre but it is a real question. did you guys is ai to write the press release? seriously or is this as simple as a clerical error? david: we are not at the point where press releases can be written by ai, at least night financial releases.
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caroline: i hate to ask it because jobs are on the line and i want to ask is the cfo's role safe and is this going to have repercussions from the membership and employee base? david: it is 100% safe. look, she and the team are taking this seriously and you have to understand. we go through hours and hours of checking and double checking. it is an unacceptable error and it is ultimately on me, i am the ceo. but the team is taking it seriously. caroline: i know that you want to be talking about growth in the business and i am sure that that is something that in a way the salt in the wound is greater because you had a great story and it got marred by the error and people are saying they are not seeing anything like this. what would you do differently in the next earnings, how can you make sure that investors feel confident in the statements that
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you put out by them in the foreseeable future? david: i would look at the record and growth and to be very clear, it was a bad error. it was 10 in a press release and a lot of other pages. we corrected it within seconds of finding it. it is not so much about the mistake but how you correct for it. and we have corrected in the moment. with new materials and then doing a really deep process dive including our own separate team luck in figure out how to make sure we can never make a mistake like this again. ed: if you are listening on bloomberg television and radio we are joined by david risher, and i will go to the current stock performance. there are so many stories within that and i zero in on the booking outlook. strong. what is the story. for me i am trying to make sense of the gig economy on the demand
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and supply side. if you look at the consumer, you guys are adding to the narrative that things are rosy out there. and what does that stop? how long does that last? david: i do not know what it stops but here is what i can tell you, we have had four quarters of increasing growth and the biggest last year of the company's history. we are talking about billions of dollars that end up going into drivers' pockets. this is a really important part of the economy because it is an important part of people's lives. when people take 700 million trips that they talk they will see their parents and to a taylor swift concert. they are going to work every day and going to see their doctor. it is important part of people's lives. and when drivers drive they earned to say for a house, tuition and maybe they lost a w-2 job and they are three weeks away from picking up another job. it does not surprise me that the gig is becoming a create --
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increasingly an essential part of people's lives. ed: uber succeeded by adding new products to the app. diversifying even within want -- ride-hailing. and prove that the algorithm is working by matching drivers with routes. you feel like you will be competitive in those domains? david: our focus is a huge strength and we are focused on rideshare. we launched women plus connect that will allow her to pick a woman driver and it has been a huge success from where we have been going to trial. we launched a new standard that will allow drivers to earn a guarantee. and what it is paid after fees. this is the innovation that we can do because we are focused on rideshare. i expect that we will do well. i expect that this is a strong sector. caroline: what is interesting is
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that there is strike action, on valentine's day whether you are flying to miami or chicago there might be issues trying to give a new warranty to lift and from the u.k. as well. i am interested as to what is happening when you are offering 70% guarantee. why do they want to demand more even if you say i am giving you flexibility? david: i mean on the strike itself, it has been in the works for weeks, so it predates the announcement of the new 70% guarantee. if you look at what the drivers are asking for and these are reasonable things, more transparency on the pay, we have given it to them. we have given them a breakdown. this is how much we took in this is how much we get. they ask for a guarantee so there is a floor to the earnings. they have asked for better visibility and deactivation's. if you raise a complaint about a driver you have a whole process
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that we go through and drivers do not want to be off of the platform if they think it was unfair. and we cover like 70% of those in less than 24 hours and there is a new but that allows drivers to appeal the deactivation. what we are doing is focused on drivers because we are obsessed over customers. by doing that we can address a lot of the issues that they are raising. caroline: jp morgan in line, the customer obsession, the marketplace held for something that they continue to improve on supply tailwind, so really drivers are not the issue. another analyst over at nathanson saying that ultimately you are at the mercy of uber one it comes to pricing. do you feel that way that you are at the mercy of uber in some way? david: it is a competitive marketplace so to a certain extent our mercy is like theirs. we cannot do something completely different and expect
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reasonable results. at the same time, for example let us look at this driver earns guarantee, that is a commitment that we have made. we will see whether uber follows or not but that is an area will they will have to look closely and decide whether or not they will follow us. this is a healthy marketplace with two good players and it and we are doing a good job. i like our strategy better because we are focused on riders and drivers. ed: for the bloomberg television and radio audience we are speaking with david risher, and we always go to the audience and ask what would you want to know. and that is the same question every time. is lyft an acquisition target and many people put forward hypotheses about the type of business, maybe an automaker or another convenience app. where is your head at with that? you called the performance like
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kicking but -- butt-kicking but there is still scale problems with lyft. david: let me talk about those. we were cash flow positive for the second time in our company's history and we have committed to be positive for the year of 2024. we have $1.7 billion in the bank so we are in pretty good shape. demand perspective, the j. may supply perspective, that shape. from a basic core, and then you think about it, 700 million rides. think about delta which might do three or 4000 take off and landings well be due to million a day. scale is not an issue. as for the acquisition same -- thing i always give the same action. we will pick up the phone if someone calls that is not our focus, our focus is customers. ed: the lyft ceo david risher in
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san francisco, thank you for your time. caroline. caroline: such a deep conversation. coming up we continue the earnings conversation and write down the results from airbnb and instacart. and we have to go back to watching not only what these two companies are doing and they are under pressure by 4.5% on a -- airbnb and 8% on instacart. uber is unveiling a $7 billion buyback plan and we heard about this money to investors. take a listen. >> the street is still relatively precious in the way in that it values your business. one of the best uses of your cash you can do is to buy back yourself because that is music to our years. the first time you connected your godaddy website and your store was also the first time you realized...
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caroline: thousands of u.s. ride-hailing workers are striking at major u.s. airports. also at the u.k.. what are they demanding? better pay and benefits in what is their largest right yet. uber has not seen much of an impact on valentine's day operations. joining us to dig into the movement of uber and lyft, natalie is here and mandeep singh. this sort of pressure ultimately from the supply side and the worry about regulatory changes, is this something that companies and investors should be worried about? natalie: it is an overhang that analysts have been talking about. there are different laws such as the supreme court decision in california over prop 22 which guarantees minimum pay and in
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minnesota people are fighting for better pay standards. it is something that would add cost for the company. but so far whenever regular trade changes have been made we see the company trying to pass the cost from the driver's side or passing the cost to customers by adding a fee. in new york they added a courier fee after minimum wage laws were implemented. in a way the business has a way to mitigate. ed: man deep, -- man deep, this has been pretty astonishing in the world of gig economy and convenience apps. let us zero in on the uber investor sweetener. it is interesting but built on the back of a profitable year and if you take that in aggregated -- an aggregate, the demand side of the economy is holding up. mandeep: yes. i mean look, i always felt like
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these companies generate more value than the profitability that they have shown so far. and in this case i think that uber has shown that it is working towards this region of becoming a super app where if you are thinking about transportation? to uber whether it is rideshare, delivery or taxis. we have come full circle in terms of disrupting taxis and having them on uber platforms. and scale and operating efficiency is what drives the mode in the business. and i think uber is demonstrating that. ed: airbnb gives a forecast even at the low end is pretty good and then -- or sorry, natalie. and then tells investors actually things will not be that good and then tells investors we are going to be a different company that does other things
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with third-party and ai. summarize that story for us? natalie: a lot of this has been talked about with the inflection point. that some of the post trent -- post-pandemic travel trends has faded and that has shown up. growth is not as strong as coming out of omicron last year. at the same time to clean up the apps and services a bit, encouraging more hosts to bring down the cleaning fees and encouraging more people to host and getting more users to make it more reliable. he feels that they are at an inflection point to expand beyond the core hosting service going back to before the pandemic. ed: bloomberg intelligence, great intelligence for a big week. coming up we will get into the fourth quarter numbers with the
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ceo tom layton. more stocks to watch. caroline: instacart under pressure as we were looking about. this as it falls on the fourth-quarter revenue miss and they are cutting jobs. restructuring and heading at a put -- at a pivotal moment. we have seen the share price under pressure and on the intraday it is down almost 10%. mark kelly saying it is a mixed result and a miss on the top line but better gross transaction act -- transaction value. this is a company having to belt tighten as they cut costs and that means people. this is bloomberg technology. ♪ [busy street sound]
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caroline: let us take a look at shares. under pressure after the company , the infrastructure company reported fourth-quarter results
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and it was relatively mixed. leaning a little bit cooler than expected and then adjusted for earnings-per-share. that leads to expectations. the ceo tom layton is with us and getting back to the mixed results. weakness and core content delivery network, what drove it? is are going to be some recovery? tom: yes. we are the largest content delivery divide -- provider by far. a very important business for us. most of our revenue is now security, performing very well and growing in the mid teens and used computer which is really exciting for us, did very well. reached half a billion dollars last year with strong growth forecasted for this year. so delivery, important great business and market leader by far. pricing pressure. it is a business we have been in and was created 25 years ago.
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there is some pricing pressure. but the exciting thing about akamai is a security and compute business which is approaching two thirds of our revenue. ed: the computer business is posting solid growth, but what will -- but what are we talking about? who was the customers you are serving? tom: that is enormous. today it is well north of $100 billion and growing rapidly. and what akamai is doing is support for vm and containers to the edge and really the edge. our goal is that by the end of this year to be supporting compute, full staff compute in 100 cities, which no one else does. and that will give us better performance and better scalability. and then also because we can take advantage of the existing
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delivery platform and 4000 locations, better economics so that customers can get better performing compute for the applications at a lower price point. caroline: ed. ed: structurally, tom when you are looking at your business, where are you growing the most internally? we talked about the idea that companies have had to reduce costs and then reallocate talent or simply dollars because there are different speeds happening within business lines and that is happening with you, we want to know what is happening by that? tom: we have shifted resources from delivery into compute and also security. and see the reflected in the numbers with a very strong growth and security and compute, very good profitability. we have been able to do that because we do shift a lot of
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resources from the delivery side. we are big users of our own platform and applications. and that is saving us a lot of money. and we plow back into the -- into the development of new capabilities for future growth. caroline: it is interesting that the bears will fixate on fourth-quarter revenue is shaping up for surprises but ultimately the offset in the delivery. and they seem to say this is elusiveness and stability. can you guide us so when and where we will see ultimately stability. but what about the traffic load? tom: traffic growth is a little bit higher this year than it was last year. but still below historical pre-pandemic norms. and of course continued price pressure and we are being more selective in the deals that we take. so not taking on some of the
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contracts and opportunities where it is less profitable and others can do that. it helps the profitability and moves more investment in the security and compute. that is driving a little bit of what you see with the revenue on the delivery side declining in single digits. and really, our focus is doing security, which is a bigger product line and compute chaz enormous potential growing at over -- which has enormous potential growing at over 20%. i think the focus should not be on delivery. as a result into the shift, this year the guidance is that it will be accelerated topline overall and continue strong bottom-line growth. caroline: we will she -- we will see when the share prices affect that more. thank you for joining us. the ceo of akamai.
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we have a deep dive with a key player in the tech space. britney taylor. ceo of salesforce and meta and clay bavor will be joining them as a launch the new product. this is bloomberg technology. ♪ avalarahhh ahhh
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ed: welcome back to bloomberg technology. ed ludlow in san francisco. caroline: caroline hyde in new york. a little bit of a bounce back after the selloff and it was not that enormous, but there was some oxygen taken out. we have uncovered a little bit in the nasdaq. interesting to note that volatility has spiked yesterday and there are options expiring that were having to look towards why we saw the volatility. today we are falling back down
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to the 14 handle. bitcoin back on a tear vis-a-vis the u.s. dollar. 51,000 is where we currently trade. 4% higher and we are starting to see some enthusiasm whether it is the halving in april. look out at what is dining out. strengthen robinhood soaring and we were up 17% after hours. up 9% at the moment. this is when we see the company managing to show some strength in their previous quarter and guide that they will see more customer growth and more subscribers coming in. i am looking at what has what is happening in apple. we are up by .8%. maybe there are some rumors about huawei and may be the smack down coming from mark zuckerberg about the vision pro and we will dig into that a little bit later. we are up -- we are off at .8%. airbnb has in a run-up, and
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maybe this is also the fact that they are posting growth but a little bit of a downdraft or a cooling momentum when it comes to room rates growth. what is notable is that this is a company relying on ai when it comes to customer service. they are investing to improve the customer experience and that is what we will dig into. ed: that was the message, transforming customer service using ai and what about transforming customer service with conversational ai which is the promise from sierra from brett taylor and the chair of openai and former google employee clay. sierra is an ai agent which mirrors the nuances of human communication but is also empowered to take action to solve customer problems. i am delighted to say that brett and clay are here with us. to start with you, we have been wondering what you have been up to. you raised money for sierra and
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come out of stealth and you want to do something that has been talked about -- about, introduce an ai agent. brett: we are excited. when you leave your job, especially jobs like we have you want to go towards a big vision. from our perspective, conversational ai is the most important consumer technology trend of a generation. when you look at the advent of the internet and how it impacted the company's ability to interact with customers digitally and the birth of a smartphone we think that conversational ai is on par with those. every company will need their own agent which is how they interact with customers and i think it will be as important as the mobile app and website. ed: you raise some money, two separate rounds. essentially, i want to know how you guys got together. interesting career so far. who's idea wasn't and why are they working together? clay: we have known each other
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for 20 years and we met at google where we started and have kept in touch ever since. and brett and i both saw this wave of technology change. we are so excited about the potential in large language models and recent advances. we got together over a year ago over lunch and hatched early plans. like with most things we do. the idea came with us both over the last of 11 months to refine it. including a number of design partners, early pilot customers. caroline: talk about the refining, hallucinations and limitations in the here and now more broadly and chat box in a generative ai form. what are you saying about improvements in that? clay: first of all, what we built with sierra and
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conversation ai goes far beyond what months people have experienced. if you pull bloomberg readers and watchers, do they like chatbots embedded on websites today? probably zero of 100 would say yes. if you pull the same, they would be 100 saying yes. the technology underlying sierra and the ai agents fundamentally did not exist much more than a year ago. we built sierra and the platform on this fundamentally new technology. as for hallucinations it is an important issue. ai is fundamentally nondeterministic and using a large language model on its own you cannot guarantee what is going to output. we have taken a multilayer approach starting with very strict security protocols around whenever the ai agents is taking action. and that is done completely deterministically. we also view the agents with
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knowledge provided to us with customers and have multiple layers of supervision and oversight including advanced auditing and inspection tools. caroline: it is interesting that we just had clay reference chap -- chatgpt and the board of openai and i am interested when you're building another generative ai company that might be seen as a competitor and how you think about that from an ethical perspective? clay: i didn't -- bret: i do not think that openai will be competitive. and they would say it is an internet company. the internet permeates every business and i think that ai will have a similar impact. we exist at a different layer where customers of openai and in addition to other models and obviously had openai. certainly if there is an opportunity for conflict i would
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recuse myself. i am really grateful to be a part of openai. i joined that board and a story that you covered extensively, and i think the mission is more important than ever before and i'm grateful to be a part of that. ed: one of the things that i have learned is that the table is complicated and important. but access to compute and your strategic partners are equally as important if not more. what has sierra done in its access to ai accelerators on that end of the spectrum, but also what are your relationships with the hyper scalers and talent base? clay: the technology approach is we use a todd them all -- autonomous ai agent architecture. rather than relying on a single model, any action might lie on five or six different models, reasoning, decision, planning,
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generating responses and more. we use a constellation of models. we work with openai, with azure cognitive services and others. we generally rely on them to provision and provide on underlying hardware. we are a step removed from it but it is always on our mind and we have taken multiple steps to ensure to plan for capacity and use. ed: if you do not mind i would like to linger on your cv because what has happened in the last 12 months is extraordinary. you have companies like yours coming out of stealth raising bast amounts -- vast amounts of money. clay said you put it together in 11 months. i want to understand how this process compares to your time at salesforce and early days at google. in 11 months how big has your team grown? it is the two of you in a garage? people do not have a great sense
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of what building a startup that rapidly is like. bret: i have gone from 80,000 employees to 30 and let me contest -- contextualize it. if you look at the previous significant technology waves, the growth of the internet in the late 90's and the growth of the smartphone in the 2010s, those periods coincide with startups that become formidable companies. our two predecessors, salesforce and google were born because of the web browser. so in these moments where there is a significant new technology trend meaning new consumer behaviors and technology models and new business models there is an opportunity for startups to compete. there is a great steve jobs quote that it is more fun to be a pirate dan in the navy and there are moments in silicone -- silicon valley history where you have opportunities you have the
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agility and the market perspective is an advantage. it is a fun time to be a startup because no one knows what the future of the technology will bring and we have an opportunity to define it. caroline: there are others toward ups -- start up doing it. and i think of what ultimately holds back and what you are having to do is to connect with other enterprise systems. i have been talking yesterday saying that personal agents sound like they will be easy to orchestrate that they are not because there will be pushback. how much pushback have you felt and how much have other systems and big companies already playing in the enterprise space been willing to allow the company agents to navigate with them? clay: first of all we have worked with many brands, brands like weight watchers, sirius xm and molokai.
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we have worked hand-in-hand to develop our platform and the asian architecture to make sure that it is trustworthy, it can integrate seamlessly and easily and is easy to deploy and that the experience it delivers for customers is delightful. you are right, in order to have these agents able to take action there is work to do to integrate with systems and the knowledge base is -- knowledge bases. and acr agent can be deployed in a matter of week. ed: katie ruth broke the story about the fundraisers and your evaluation of $1 billion. what justifies those numbers? you kind of tea is some of the customers that you worked with in the development process. we mentioned that airbnb has an ambition to integrate agents into the customer service offering. who are you talking to and how quickly do you commercialize
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this? bret: we are really focused on the customers and consumer brands that would benefit the most. i think that they will save the most. not just retailers. we have partnered with media companies and all subscription services, airlines and travel companies. we think that there are broad consumer categories. the unique parts of these categories are unique to handle. you talk about the dot-com bubble and people think about pets.com, and if you could go back in time and buy an index fund you would also get amazon and google, ebay and paypal. and you would probably make a ton. if you are looking at investment it is frothy and bit of an ai bubble. the thesis that out of this ai wave will come many generational
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companies uniquely built on this technology is probably true. it is probably both true that there is a lot of hype and that the technology wave will fundamentally change the way we interact with consumers and the market of the technology economy. i think it is exciting. i think we have a lot of work to do to justify the faith that investors have in us and i cannot be more optimistic. ed: the sierra co-founder bret taylor and clay. i guess that is a silicon valley classic. caroline: meanwhile we will talk about another classic, why they are placing their bets on different areas. we will talk about that with dalton caldwell. ♪
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caroline: on today's spotlight, y combinator? a whole new request for startups , it was a request that each of them laying out big ideas in space is that they want the entrepreneur to focus in on and where the investments pullback back including 20 categories. machine learning, new defense technology or climate check. let us bring in dalton caldwell for more on this. and the inspiration, let us take one, robotics. limitations are real-world data, we have to look at how they really interact and we have a lot of online data. what do you want to be anticipated and built. what are you looking to back? dalton: thank you for having me. to start off the request for
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startups has a rich history and we put these out kind of for fun. we put these out to inspire people and to be aware of the kind of ideas that we want to fund. let us talk about robotics. sometimes you will see founders trying to come up with an idea and then not sure what investors want to find. and sometimes they are insecure or worried that maybe yx does not -- yc wants to fund a robotic start up. it is to give a window into our brains of the sort of startups we would love to see apply and we would love to see people apply with. the deep insights are the founder's department on how to implement it. the goal of putting out this robotics one is to signal to people that are curious if maybe they should apply with a robotics idea that they definitely should. ed: dalton, does y combinator
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still require or is it still mandatory that if you get into the summer or winter class to be in person in san francisco? dalton: yes. easter do. -- we sure do. yes, that is right. ed: the reason i ask is that i have a documentary cover -- documentary coming soon and at the time we shot at you had around 45% of that class working in ai. and it looks at why there is a high concentration of talent coming to san francisco. you are the opposite and saying we want specific people focused in this area, in answer that question for me, why is there such a high concentration of talent already in san francisco like nowhere else? dalton: i think there is a rich history of technology being in the bay area.
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in fact we have put out a video that myself and one of my colleagues is in specifically on whether you should move into the bay area or not, but to quickly summarize there are network effects from all of these things being here in the 50's and six -- 50's and 70's and those continue to pay off years later where the folks that worked on a prior generation of companies tend to stay around just like the folks before me. they benefited tremendously from being in the bay area and it sounds like they are putting their start up here as well. this is not a new phenomena but one that has been going on a long time. caroline: let us go back to the inspiration. and space is another one that you highlight. many would say that is not dominated so much for the bay area and over with being more broadly.
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where's the opportunity to build in space tech? dalton: the reason that we put this out as i think that founders sometimes think that space ideas are too ambitious or that may be they see the kind of companies that are raising money. this is the naive algorithm for what idea to work on. they read articles or see tv segments and their like i will do that but with a tiny unsettled distant -- difference and then i will raise money. we want to put things out like space to inspire people that we will definitely fund the space companies and we had a lot of success funding space companies and there is this morris law type of effect happening with how easy and cheap it is to get objects into space. the side effect we think will be staggering similar to its effect on computing and the similar
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thing will happen to space. we are trying to signal to people if you are considering doing a space start up it seems like a good idea and we would love to see you apply to yc with that idea. caroline: partner -- ed: partner and investments managing director, great to catch up. some news, elon musk starlink has won a license to operate in israel and parts of the gaza strip after agreeing to a series of measures that prevent hamas from getting access to its satellite internet services. i think it is important and a use case has been identified, for example in field hospitals and by government agencies. we have -- we will continue to attract that story. this is bloomberg technology. ♪ you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first.
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we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's free. ed: so, -- >> so i finally tried vision pro, and i have to say that before this i expected that quest would be the better value since it is good and seven times less expensive. but after using it i would just say that quest is the better value but also the better product period. ed: mark zuckerberg taking aim at the vision pro with meta's quest three.
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wow, what a video and interesting analysis from their side of the technological divide, what was said? mark: zuckerberg went right at the vision pro. he talked about field of comfort, pass-through quality, he talked about the resolution and display. he implied that the vision pro is an over engineered product where they put extremely high resolution panels into the product, bringing up the price, but what are the use cases. i think he made a few salient points. he did something that he had to do. i think that his review that he posted is going to drum up sales of the meta quest. this will help sell his product. that is the positive on the others, i think the vision pro is a fourth-generation product and in a few years time apple will figure stuff out. the price will come down a
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little bit in the comfort will improve. the use cases will improve and the app storable include some interesting apps and at that point people will play the zuckerberg video and it will not look great. he should've said he thinks that it will improve in the future. caroline: this is bloomberg technology. ♪ filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh sonali: stocks are rebounding a hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall.
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bit from tuesday's slump which means they were triggered by the hotter than expected inflation data, they believe that the fed will hold off until the summer to cut rates. there watching the s&p 500 off of the highs of the day, still a little higher, .2%, a little under point 1%.

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