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 am at in san francisco. this is bloomberg technology. we bring you live comments from former president trump we will hone in on tech earnings.

we speak with eu commissioner to talk about social media, elections of misinformation. we are awaiting live comments from former president trump. for more, let us go to anne-marie hard earned --hor dern. president trump is already given comments and made the position of the trial known. we had brief comments yesterday. he said the election will be

when the final verdict is rendered. we are looking for insight into his temperament and how he has reacted to this historic verdict and what he has to say about the path forward for him. july 11 is when he's scheduled to be sentenced. and then november 5, the general election of the united states. just a couple of days of thought court date is the republican national committee meeting. trump's lawyer talked about their attempts to appeal. paying attention of god in helping to get some insight from

donald trump . ed: if there is one thing president biden and president trump is where real decisions will be made. >> they use this verdict to go out and say their side of the story and campaign off of it. that is what the former president side yesterday and they are campaigning off of this because this does matter for november 5. when you look at the polling that was done it's very muddy. it feels like a fickle electorate. pbs says 60 person and a

conviction would make no difference. more than 70% were independents. they have to fight for the people who are on the fence in the swing states but ahead of the verdict we also had a survey from marquette and they said a guilty verdict would provide a four point we while not guilty would have made a six-point lead for trump. ed: bloomberg's annmarie hordern . we will bring you former president trump 's comment as it began. in the markets one of the driving factors was pc and a growing sense reflected in the

bond market that the fed will have room to cut rates as is preferred look at inflation. the s&p is down .4 7%. we also reflect on former president trump 's guilty verdict. it opened higher but it was down lower and we use it as a proxy for sentiment. also important is the ending story and that is dell. it is down 21%. extremely high expectations. this was a stock that was soaring and investors believe the ai story but those

expectations were not met even though we saw the first quarterly growth in some time. let's go to bloomberg's brody ford. this was a company doing well and expectations were high and they did not meet those expectations. brody: being down 40% sounds bad but they were up for a hundred 30%. dell makes more than computers. they make servers, high powered servers. they have really vaulted over the last year as they see their orders on servers up above 3 billion. ed: president trump is speaking in new york city. >> these are in many cases sick

people. when you look at our country where millions of people are flowing in from all parts of the world, not just south america but from africa, asia and the middle east. they are coming in from jails and prisons and mental institutions and insane asylum. they are coming from all over the world into our country and we have a president and a group of fascists that don't want to do anything about it. right now, today he could stop it but he wants to destroy our country. they are very much against me saying these things. they want to raise your taxes by four times. they want to stop you from having cars with their men days that make it impossible for you to get a car. it will make it possible for china to build all of her cars. it's a very serious problem.

we just went through many experiences where we had judge, highly conflicted. i am under a gag order which no one is ever been under a gag order. a nasty gag order. i have had to pay thousands in penalties and fines. and threatened with jail. i am the leading candidate, i'm leading biden by a lot. i am the leading person for president and i am under a gag order by a man that can put two sentences together. they are in total conjunction with the white house and doj. this is all done by biden and his people. i don't know if biden knows much

about it because he doesn't seem to know anything. but he is the president we have to use his name. no one has ever seen anything like it. we have a judge she was highly conflicted. nobody wants to write about it and i'm not allowed to talk about it. if i do he said i will be put in jail. we will play that game a little longer but you're allowed to talk about it. there has never been anyone as conflicted as this. as far as the trial itself it was very unfair. we were not allowed to use our alexion expert. you saw what happened to some of the witnesses that were on our side. they were literally crucified by this man who looks like an angel but is really a devil.

he looks so nice and soft. unless you summon action and you saw that with a certain witness that went through hell. when we wanted to do things, he would lead us to those things but when the government wanted something they got everything. it was a rigged trial. we wanted to venue change where we could have a fair trial. we wanted a judge change. and obviously, he did not do that. nobody is ever seen anything like it. we had a d.a., a failed da. crime is rampant in new york. thus what he supposed to be looking at. crime is rampant in new york. yesterday, and mcdonald's there

was a man hitting them up with machetes. who couldn't even imagine the machete being yielded in a store , a place where they were eating and bragg is down watching the trial. they are falsifying business records. it's only a misdemeanor but it sounds bad. and they say falsifying business records. i have never had that before. you know what falsifying business records is? it means legal expense, i paid a lawyer, totally legal. i paid a lawyer legal expense and a bookkeeper without any knowledge from me marked it down in the books. a very professional woman.

highly respected, she testified. a legal expense is a legal expense. it is not sheet rock, construction or any other thing. it is a legal expense. this is what the falsification of business records were. what else are you going to college? i would've testified, i wanted to testify. but that theory i see you never -- but you should never testify because they can sue you for perjury. but the judge allowed them to go into everything that i was ever involved in. you could go into every single thing that i ever did. was he a bad boy here, about a there?

my lawyer said why do you need to go through? i would have loved to have testified. but you would've said something out of whack like it was a beautiful sunny day and it was raining out and i very much appreciate the big crowd of people outside. the level of support is been incredible. legal expense was marked down as a legal expense. this is the crime i committed. that i'm supposed to go to year for a 187 years. businesses are leaving because has a business are saying man we don't want to get involved with that. i could go through the books of any business person and i can

find things, let's indict him and destroy his life. but i am out there and i don't mind because i'm doing something for this country and our constitution. it's important, far beyond me. this should never be allowed to happen to presidents. this is bigger than trump in my presidency. the people understand it because i see a poll came out in the daily mail. it was on last night after the verdict and i am up six points from where we already were. maybe other polls and say something different. the public understands and they understand what is going on.

this is a scam, a rigged trial. we shouldn't of had the judge and he should've allowed us to have an alexion expert. the head of the federal election commission he was also it says testify and when it was his turn,bragg's people objected. you can say what the federal election is. that doesn't help everyone knows what that is. he was in other to testify but with these people, they were able to use salacious -- nothing ever happened. nothing ever happened and they know it. but they were asked salacious as

could be and i had nothing to do with the case but i had to do with politics. do you notice the timing? this case was dead and dropped by every agency, it was dropped by the southern district. it was dropped by federal election and this is what it's about. as of federal election not a state alexion. election. the people from the southern district and washington dropped the case. there was no case. when bragg came in who would have a certain person like this ever testify? this is one of the worst people have ever seen ever to testify.

he said the craziest case i have ever seen. this is bragg. and when i announced i was running for president they decided to revise this case and they got a judge, who was responsible for another case that was also brought and destroyed the life of a very good man. he went to prison once and then they just put them in prison again because you lied. he did not live. he didn't remember something and they put him in jail. they have destroyed them. he was with me for many years. he was an honest man. if you look at what he did supposedly, and never happen. the never been anything like this over the education of his grandchildren.

he did report that he had a car on his income. i wonder how many people so that i have a car and i guess you do have to report it but almost nobody does they don't even think about it they destroyed this man. they put them in jail again because he didn't want to just testify. that's why he went to jail. they put them in jail twice. he is 77 years old. normally i would save us and all day but i don't feel 77. nobody ever says that about me. i would like them to say we have to have a little sorrow about this man but maybe i'm better off that way. they put him in jail twice and you have to see what they put them in jail?

--and he was threatened by the judge. they told him he would get 15 years in jail if you don't give up jail. he was told that. and he made a plea deal and he was told that viciously. we are living in a fascist state. he was told that viciously. you can go to jail for 4, 5 months or get 15 years in jail. do a plea. who would not do that plea? everyone does those please. there are a whole group of layers of five thought. they destroyed his life. you look at the southern district is not one of bring the case. nobody wanted to bring the case

and then you know who didn't want to bring it most of all? bragg, bragg didn't want to bring it. again, if i wrote down i paid a lawyer. this was a highly qualified lawyer but i can't use his name. because of the gag order. he was a sleaze bag but he was effective but he was not a fixer , he was a lawyer. at the time he was a fully accredited lawyer. he got into trouble because he made outside deals and he borrowed money and that's why he went. he pled said three election violations. as soon as i saw that i sent i

wonder why he did that? he took a deal because he wanted to get off. i will take a plea deal and i want to get off and make a deal with the southern district and they wrote, the worst report i've ever seen on any human being other than the report written on james comey by the inspector general. wrote a report that was so bad. this one was possibly worse. the judge would let us use it they said it was hearsay. he got in trouble for a very simple reason. he was involved with borrowing a lot of money and he did something with the banks. i don't know if it was defrauding the banks but something happened. in addition to that, he wasn't guilty.

they were gonna testify about the head of the fec. he took the plea and just added the men because i gave him more bargaining power but the three things he planned on having to do with the election and having to do a little bit with me. they were not crimes. nor is paying money under an nda. we have a nondisclosure agreement, it's a big deal. totally honorable, totally good, everyone has them. every company has nda agreements . the press called it a slush fund, hush money. it's called a nondisclosure agreement and most of the people in this room have an nda with

their company. it's a disgrace. it's not hush money it's a nondisclosure agreement. totally legal, totally common. he signed a nondisclosure agreement with this person but is totally honest you're allowed to make the payment and you can make it any you want. any sign that. there was nothing wrong with signing it. it should've been a non-case and everyone thought it was a non-ca se including bragg. it is a very something that is happening out there in this country and it's a thing i am

honored, it's not that it is pleasant. it's very bad for family. it's bad for friends of businesses. i am honored to be involved because somebody has to do it and i'm might as well keep going and be the one. we are fighting for our constitution. the money that was paid, was paid legally. there is nothing illegal. the lawyer and creating the nda, at the time he was a fully accredited lawyer, not a fixer. he was a lawyer. he was fairly good, later on i didn't like what he did. i didn't like when he became president he went around and made deals with companies. when i heard that, he was gone. he had payments coming to him

and a lot of the simple things that were very simple. this was standard stuff. all standard stuff. there was no crime here. i just watched a couple of the reports. he watched jonathan turley, greg jarrett, all of these people, mark levin. they don't know me essentially, they are legal scholars and experts. i look at them and i watched turley singing this morning there's no crime here. everyone is saying that except the da who has the city out of control. we have the legal expenses and here's the thing on legal expenses.

you have 100 where they do a charge. falsification of business records in the first degree. it's also bad. and even my own lawyer was very upset with them because they don't say what it is. falsification of legal records is only a felony. that's a lot. they say misdemeanor but they try to bring it to a felony they have all these different things. they also missed the statute of limitation because this was very old. the code brought it seven years ago. let me give you the good news. last night, we just got a report this morning. in the history of

politics, maybe i am wrong. i don't think so. they raised with small money donors, $21, $42, $53, $30 a record 39 million and a 10 hour. . in a 10 hour period. [applause] i want to win this thing legitimately not because they were stupid. they should not have brought this case. they said this morning this was a case that should not have been brought. i watched andy mccarthy say

this was a case that should not have been brought. every legal scholar, they are great people that understand the law. opal just came back -- a poll came out. the daily mail they have a good poll. they just came out with the poll and it has trump up by six points within the last hour. the people of our country know it's a hoax. they get it. they are really smart and is really something. we will be appealing the scan. he would not allow us to have witnesses.

he would not allow us to talk. the judge was a tyrant and you got to see that with bob costello. a fine man. i've never seen anything like it where he demanded the courthouse be cleared. most of the people in the courthouse was the media. they said, while, that was anger. he was praised. the reason bob costello acted upset which i think he has a right to. every question he was being asked was being objected to by the other side is sustained by the judge. i think he did it many times. even i was sitting there saying -- these are basic questions. i've never seen anyone treat her

like that out by a judge. it all comes out of the white house. crooked joe biden, the worst president in the history of our country. the most incompetent, the dumbest president we have ever had. the most incompetent president and the most dishonest president. he is the manchurian candidate. you take a look at the way he treats china, russia. i ended the russian pipeline and he comes in and improves that and gets 3.5 billion paid to his family from the mayor of moscow's wife. and i said where did that come from? nobody wants to talk about it but he's a big danger to our country. ed: former president donald

trump speaking after being found guilty. we are going back to anne-marie herndon. a highly political speech with many statements made. wife sees echoing what he said yesterday before he left the courthouse when he was convicted of these crimes making him the first felon also running for the presidential election. one piece of news we heard from him aside he will be appealing this. we should note that he made a number of assertions that were false. saying this was done by the white house, biden, they were saying this was an expense --

legal expense. there were a number of ostentation's the former president made that are false. he will be using this and he really wanted to pivot to how much money has campaign was able to bring in, about 35 million following the verdict yesterday. about 30% of those donors were first-time contributors. you can get a sense of how he will campaign into november talking about this was political and unjustified. ed: trump was convicted on state and not federal charges. that means he could not pardon himself.

he had wanted to testify during that trial and give reasons why he would not. your reaction? david: it's getting a bit noisy here with protesters and supporters of trump . i thought that line was interesting. he would've loved to testify. he had the opportunity to do that and he declined to do that. to echo what annmarie was saying this is a director cut of what we heard from trump during the trial. he would go down during the lunch hour and complain about the judge. but here in trump tower he would go into this in detail.

he said he had a run in with this judge, the same kind of invective and criticism of the judge. donald trump saying he was still under this gag order. and really did the same kind of top dancing around that. he was not shy about criticizing the judge again the judge that will be sentencing him in july. and he talked a lot about michael cohen. taking issue with the fact that it has become common to refer to him as donald trump's fixer. playing the role that roy cohn played earlier in his career.

he was quite critical of what michael cohen had to say and the emphasis he placed on fundraising and the gratitude for the people giving money to his groups. that is something that will be part and parcel of trump's campaign going forward. >> it has been a long speech but it open with broader political issues at the heart of the election. one thing i want to focus on, there was an uptick or rise in new york city crime. the data does not support a thought but it is a core political issue. annmarie: it was an unfounded claim that data does not support but this is something we see show up in polls. americans

side the economy and inflation is their number one concern but immigration and crime are at the top of the agenda and thus the fear that trump is trying to tap into and he will save the biden administration has not done enough. one thing trump said yesterday is that the verdict will be delivered by the american people on november 5. that is what makes july 11 sentencing and the debate coming before that at the end of june. this is the first time we will see these two individuals back on stage together and they can make that pitched of the american people. when you look at the polling it

is a mixed bag on whether or not this conviction will land us a concern for those people in the middle. ed: former president trump continues to speak. i wanted to check in on the markets. technology earnings continues an important inflation date that supports the idea that the fed will have room to cut rates in this calendar year. the s&p 500 down a percentage point. the two-year yields dropping 3, 4 basis points and we continue to track trump media, the

publicly traded parent company network associated with donald trump as a proxy for what is happening in real time and that stock is down 4.6%. we will continue to track what's happening in new york city as former president trump speaks. the european commission's vice president vera jourova is in california. she discussed the impact of ai contact and how to safeguard elections against foreign interference. we are grateful to have you here. i have to ask your reaction so what you've just heard from former president trump and association with misinformation.

vera: i can agree with him on one thing we have a sunny and beautiful day. the other things i can't comment because justice is doing its thing. when mr. trump was the president we saw a tenancy for enabling disinformation to influence public opinion. i don't want to say that he himself was doing it. but coming back to the years of his presidency. we saw the social media was used for manipulation of public opinion more than before. ed: we have election in this

country and you have them sooner across the european union. what was the conclusion you have reached meeting with the has of those important technology and social media companies? vera: it was interesting to me and all of them. later i will meet with mr. zuckerberg. i share my feedback. ed: what was your feedback? vera: a learning about the need to protect the campaign against misinformation. first of all, i want to alert them is somewhat days before the election to explain why these

selections are important. the people of the european union are deciding who will be among the 720 members of parliament who will have one of the first task to nominate the head of the commission and the head of the european commission is the person which has the full number which henry kissinger always wanted in eu. we don't want vladimir putin or some other hostile power's of metal this election. how to do this meddling? ed: where? you're going to meet with mr. zuckerberg there are 450 million people across the eu so they will use a meta-product. facebook, instagram, what's up.

they have been issuing threat reports. and they argued that the industries current defenses in the context of malicious content or misinformation generated by ai, they believe they have sufficient tools. are you convinced of that? vera: they have a recently abandoned set of rules. first of all to guarantee there is no crime spread by their networks. antisemitism, hate speech against minorities, terrorist content, extremist content and child pornography. the second thing is misinformation. especially misinformation with

the combination of ai is exactly something that can endanger our electoral process. we want the elections to be a real chance for the voters to cast an authentic vote. that is why the platforms i spoke with, the ceos explained to me what they had done. fact checking regarding material of content and labeling ai production in my message for them. we have to do more to protect the electoral process. caroline: one name we have not discussed as telegram. ed: you had mentioned vladimir

putin in russia and the spread of misinformation with russian origins origins on the platform. have you any specific finding our actions on how that has played a role in european affairs and in the coming elections? vera: telegram is an issue. vladimir putin and other hostile actors using all platforms but telegram is a special case because this platform is not under investigation because they only have 42 million users in the benchmark is 45 million users. that's why we are checking whether the figures right in case we discover that there are

more than 42 million. we will have to look deeply into how it works. even the smaller platforms can do very dangerous job in member states and telegram is especially active in the eastern member states where we have a russian-speaking minority. ed: thank you for being generous with your time in bearing with us as we carry the comments of former president trump. thank you for sticking with the assistance bloomberg technology, we will be right back. ♪

ed: you are looking at a live shot of the principal room. check out our podcasts. this is bloomberg.

an unexpected sign off from u.s. regulators pave the way for another landmark in the cryptocurrency industry. etf's and vesting directly into ether. the author of crypto was macro now. i've asked this question to all of my guests, where you taken by surprise? >> i called this one wrong i did not expect this fast of a decision. ed: you assume there is a demand for the product so give me that big picture, the importance of a spot etf.

vera: we won't get a lot of demand for this product it is great news for the industry. is this a good product? anyone investing in this product is foregoing a 4% yield. for many, that's a convenience fee but that is a hefty cost to justify to clients. ed: throughout the course of the last week, many of our guests have labeled ether as different things. but if bitcoin is digital coin, what is it to you? vera: it is digital oil. bitcoin is a store of value.

you need to be bought and forgotten about. this is meant to be used is not created to be parked and forgotten about. this is one of the disadvantages of the product but you did highlight the advantage which is in the narrative in getting people interested. be aware that there are many narratives in play. ed: i appreciate your honesty about being caught by surprise in getting the call wrong. are there any parallels we can draw from the process and play out of a spot bitcoin etf and the procedure and cadence of

what might happen from here? noelle: it was expected and it was flagged we were all ready for it. this caught the sec got caught off. guard. it could be sometime in the summer but if i just want to get this out there and move on. ed: noelle acheson author of crypto was macro now. stay with us we will be right back. this is bloomberg technology. ♪

her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

ed: bloomberg technology let's end the week with the check in on the markets. earnings continues to be a factor, economic data. inflation is easing off and that has reignited the belief that there is some room by the end of the year for the fed to cut rates. and what increment we do not know. s&p 500 down .58% bonds are set

for their best month of the year. what happens with former president trump is a factor. this is the holding of the true social up and it is down in pre-session lows. we carried his speech earlier in this program. that doesn't at this point and this edition of bloomberg technology. recap, what was discussed in the analysis of president trump's comments. the podcast, you know where to find it. apple, spotify and i heart. this is bloomberg technology.

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just stop calling each other rock stars. and using workday to put finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not rock stars. oooh. data driven insights, and large language models. oh, that's so rock roll. it is, right. he gets it. yeah.

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from new york city for our viewers worldwide i m vonnie quinn.