plus, tech4kamala. we speak to the technology leaders in silicon valley democrats backing the vice president's bid to the white

house. what we are seeing is a five-day chart of the nasdaq, and it is completely flat. 0% over the course of the week, but there is peril within that. because if the nasdaq 100 closes down, negative on a weekly basis, that would mark five straight weeks of declines for that index, which is the worst run of weekly drops going back to may 2020 two. if it is positive, it snaps a four-week decline streak, which it had street -- jed had seen in april, and things looked rosier. we are worried about growth. we are worried about a little bit geopolitical risk, but earnings have been a mixed picture or in aggregate we are probably feeling better about the technology sector. in part, ai infrastructure. that brings us to tsmc. sales grew 35% in july on strong demand.

in particular, it would seem, for ai accelerators. those are the u.s.-listed shares of taiwan semi conductor, up .8% in the u.s. section. ian king is here with me in san francisco. the data is for the month, and we are trying to extrapolate out and say for the quarter what is that look like? -- what does that look like? for the big picture it is bullish because tsmc is the chip factory for the world. ian: yeah. 45% is dramatic, right? that is tremendous compared to where we were last year. we have to put that in context. last year things were depressed. saw a lot of smartphone market-related chip orders were not that great. if you are worried about this ai infrastructure buildout, if you worried about what amd is buying, what intel is buying these days, this tells you they are still putting orders in, and those factories are still working flat out. ed: in simple terms tsmc is a

chipmaker contractor. the biggest names go and say, here are our chips, make them for us, please. that brings me to nvidia, which reports august 28. they are the market right now for ai accelerators. look ahead to august 28 then what we are kind of expecting, and does tsmc kind of inform what we might get? ian: to an extent, yes. tsmc has a lot of customers. nvidia is one of the biggest, but apple is also a huge customer. it is not a direct, linear relationship there. but at the same time, everything we have heard, all of the concerns we have heard about nvidia, nobody is doubting the fundamentals of demand. we also, as you have seen, have seen lots of reports about problems with new chips they have had. but they have come out themselves and said, there is still demand for our old stuff, don't worry about it. ed: never specifically about design or engineering issues around black well. which would be the latest generation of accelerator.

tsmc is interesting because it is literally concentrated in taiwan. a lot of the activity. but the story in the united states has been the flow of public money from the chips act, or government money, to onshore our industry. there is a piece on the bloomberg terminal about house now, present day, much of that money has been allocated from the chips act. what are the numbers behind that, and what is the impact? ian: the key point she makes in her story is, we are going to give you this, but nothing has actually, no checks have been mailed, right? ed: literally. ian: as a u.s. taxpayer, that is a smart thing, because you want to see these things built and in operation before you actually pay for them, right? this is, you know, a very complex industry and is very brutal economically, as we have seen with what is happening at intel. you want to make sure these things get built, the equipment

goes in, and then the money gets distributive. ian: ed: as you have educated our audience on for a while now, it takes a lot of time to build manufacturing. ian king in san francisco. thank you. let's get back to that story about paramount we alluded to at the top. look on interesting, or positive reaction in the shares. it is a right-down of $6 billion on the legacy cable tv and works very similar to the news this week that we got from warner bros. discovery. there are some points of distinction with paramount in terms of the properties, and some other news as well. hannah miller is back in new york city. so, paramount, the numbers on the right down, the story behind the write down specific to paramount, what is going on? >> it is similar to one brothers discovery. they are writing down the value of their team a network -- of the tv networks. they have taken to reevaluating their cape -- cable television as streaming continues to grow more popular.

what is different here is with paramount you have the backdrop of its deal with skylines. that is expected to finalize in the first half of 2025. there is still a 45-day period where people can submit competing offers, but there is a lot of bullishness because of this pending deal. ed: i'm reading through your story. by the way, hannah miller, pretty new to this be. have busy have you been in those first few weeks of covering the media industry? the paramount part of the story is cost reduction and cost cuts as well. is that directly related to the right down or is that a different story? hannah: before we learned about this right down there is this whole $500 million cost-cutting effort that paramount has undertaken. and then's guidance has also identified $2 billion worth of cost efficiencies. so, all of this has played into that. they are working to tighten the belt. another big piece of news coming out of the earnings call yesterday was that there are layoffs coming.

that 15% of the u.s. workforce is going to be cut before the end of this year. so there is a lot going on with paramount as it prepares to finalize this deal with sky dance. ed: i think i said this to you 24 hours ago, but i always try to find the technology story within this. what is common with those two names are the pain in the legacy, tv network site is because of streaming. but streaming networks, based on the growth numbers, it seems like they are doing ok. hannah: for paramount, they lost subscribers for their paramount plus streaming service during the second. that was because of a one time event, the end of this deal in south korea. they are very optimistic about it otherwise. they have seen revenues increased there, so, you know, despite the setback, like other companies, like warner bros. they are excited about their streaming service. ed: i was referring to revenue jumping 13%, but you are exactly

right. paramount plus lost 2.8 million subs due to that. hannah miller, happy friday. think you very much for your reporting. numbing up, roger lee, the creator of layoffs.fyi, a website for tracking tech layoffs, is going to join us to discuss all of the job cuts in aggregate that have been announced in his data. and it is timely. let's take a quick look at shares of cisco. they have been positive, or higher, this friday session. now softer .6%. reuters is reporting that cisco will lay off thousands of employees in a second round of job cuts this year, and that cisco could announce those job cuts as early as wednesday. it did move the shares, and wednesday of next week on a by the way, august 14, cisco reports earnings. we will keep an eye on that story and see if bloomberg has any advancements on it. be right back. this is bloomberg technology.

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just during our last video call i'm learning a lot ed: we should keep talking about tech jobs and layoffs. over 120 6000 tech employees have been laid off so far in 2024. with companies increasingly citing ai has a reason for the job cuts. i want to bring in roger lee, who is the founder and creator of layoffs.fyi. it is a platform dedicated to tracking tech layoffs since the covid-19 pandemic in 2020. and you and i were just discussing this during the commercial break. i look at all of the news had lines, and the cadence of

headlines, probably starting early june through now, you have got the data, so, summarize the scale of what is happening in the industry right now versus prior years where we saw heavy layoffs as well. roger: that's right. according to layoffs.fyi we have tracked 100s -- 126 thousand tech employees laid off so far in 2024. the good news is that is actually down 42% from the same time last year. and if you look at the quarter on quarter trends, tech layoffs have generally been leveling off since their peak in q1 of 2023. of course, it has spiked a little bit in the past couple of weeks. the bad news? 2024 is still on pace to have more layoffs than any other year this decade, except for 2023, and of course it is all a small comfort if you are one of those 126,000 people laid off. ed: we have just illustrated

that point, roger. we have a chart showing your data at layoffs.fyi, and he was the point i was making. those are big names. tesla, s&p in germany. cisco, we just broke that reporting on, the stock move. so, what your data may or may not track is, is there a reallocation of resources to new jobs, if the justification is a i? roger: -- ai? that is what we are seeing in announcements for layoffs, that tech companies are increasingly citing ai for the reason. as an m kit -- as an example of this week dell cut employees as part of a sales team reorganization that included creating a new team focused on ai sales. then earlier this year into it laid off 1000 800 employees and decided that they are doing so so they can invest and make more hires to help build ai into its tax prep software. it is definitely in -- an

allocation of resources. building ai is expensive. according to salary tracker, a senior ai engineer in the bay area earns $208,000 a year in base salary. that is 16% more than a non-ai engineer and doesn't even include stocks. if you include equity that pay package could total easily half a million to a million dollars. not to mention all of the cost involved in infrastructure and hardware for building ai. so, the economic environment is still at play. companies are finding the only way to increase investment in ai is to cut costs elsewhere on the and hence all of the layoffs we have been seeing. ed: as a bloomberg producer just reflected on in our chat, maybe we are in the wrong line of work. it is lucrative if you are a software engineer in that space. there is a point you made a minute ago about 2024. we are in early august let's try

and extrapolate out. i look at the number of companies, for example, rather than the jobs in aggregate that are making these announcements. have you a sense of the direction of travel for the remainder of the year? roger: typically what we see is that q1 and q4 tend to be the biggest quarters for layoffs. that is often because companies do their annual budgeting around the end of the year, which leads to those layoffs. whereas the middle of the year, you know, summer period we are in right now, tends to be slower in terms of layoffs. obviously there are some notable exceptions you see on the screen here. unfortunately, i would expect that tech layoffs may pick up again as we head toward the end of the year and early next year as companies take stock of their year forecast into next year, to their annual budgeting, and decide whether they have the right team to move forward. ed: let's do this in aggregate. he started tracking this data at the early days of the pandemic.

how does this four-year period or so compared to history? i think about the dot-com bubble, the global financial crisis. are there ways to compare and contrast? roger: it is tough to say. layoffs study i, we started in 2020, so don't have the data from those two time periods. the scale of the industry is so much bigger than during the.com era or during the global financial crisis, so in aggregate numbers i believe that this current period of layoffs is going to be the most we have ever seen in the tech industry, just because the scale of the industry and the number of people working in this industry is so much higher now than in previous years. ed: roger lee, thank you for your analysis and sharing the data with us. the charts depiction in particular helps to illustrate what is happening in this industry. we are also going to look at shares of akamai. you're going to be having a

conversation next with the ceo, but in the cyberspace this is a ddrs -- ddo as specialist. a question analysts in the street has, this is a company that is inconsistent in the number of quarters at strings together. a comp -- a conversation coming up with tom leighton, who is the ceo of akamai. maybe he will push back. we will see. this is "bloomberg technology ." ♪ i was the last athlete out on the floor

and i still had a full round to go, and everything in me was saying, “just stop.” i kept plugging through until i got time capped. because i didn't quit and i just kept trying as hard as i could, it's actually one of my fondest memories of all the games. i want others to feel that their worth is based on their efforts and their willingness to put themselves out there. our effort is the only thing we can control. i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got another one. when you automate sales tax with avalara, you don't have to worry about things

like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh ed: it is time for talking tech. the owner behind team who has become china's richest person, amassing a fortune of $48.6. -- $40.6 billion. wong's rise has been driven by

china's shopping habits. an e-commerce deal with tiktok and pinterest. users can now link their profile from the social media platforms to their amazon accounts. allowing customers to buy products directly from ads. this is -- this as social shopping becomes more popular in the united states. turkiye's band hits female entrepreneurs. entrepreneurs from female-led businesses that relied on the platform to drive sales. turkiye abruptly locked access to instagram on august 2, without explaining why. that was a very e-commerce -themed, and focused selection of new stories. the earnings story also continues, and we continue to look at cybersecurity and akamai. the company reported earnings thursday. cofounder and ceo tom leighton joins us now for more. there are loads of words and

adjectives and praise used by the sell side, tom. clean print, strong quarter growth, but what there is less discussion of is why. what were the factors in the quarter that put akamai up? tom: well, we have several market-leading products in security. obviously very important today, given the large number of damaging attacks, ransomware, data exfiltration. and our enterprise compute business, doing very well. we talked about really getting started in that aspect of the business this year, and now we think we will exit the year at $100 million a year annual run rate in revenue. a lot of exciting potential for the future. i think those are great proof points that investors are now seeing. ed: on the enterprise side i find that interesting. is it demonstrative of broad strength in your client base, those industries willingness to spend?

or is there something specific that akamai is doing that allows you to outperform in a difficult environment? tom: well, security is important for every major enterprise. even in tough economic times, which we are seeing some of now. we have the market-leading products, and major enterprises really need them to be safe. and in compute i think we have a very compelling value proposition. you can provide better performance at a much lower price point. and when you can do that and help a major enterprise save money, this is a good time to be able to have that happen. ed: tom, strength in the areas you outlined, and then a little weakness in cdn, i would like to talk about what is happening in your industry overall. i think we start with crowdstrike. endpoint specialist, you, ddos.

what was that week like for akamai? was there any positive reaper for you anyway you capitalized on what happened? tom: don't use that software ourselves, so there was no impact to akamai, and we helped our customers where we could, but that was at an area where we don't really do business. i think there were a lot of learnings for the industry as a whole. first, it really is clear. you just cannot be doing updates all at once everywhere in the world. most of the time that is ok, but eventually you're going to have an unintended consequence. if you update the entire world at one time you've got a disaster. that is a lesson we learned at akamai pretty painfully about 20 years ago. ever since then, you know, we phased our updates after you have been through you a and you are confident you still just go one stage at a time, so in case there is something that was

unanticipated you catch it before you cause a problem. i think also there is a much better understanding that, like building matters. it takes a lot of investment, but you have seen what happens when you have something like this. i think enterprises will pay a lot more attention to reliability going forward. ed: i hear you on that. i'm not a cyber expert by any means, and i know that a lot of cio's, cyber managers, watch this program. for them top of mind is a sort of academic debate. agent versus agent-less delivery , delivery of security. do you see a way from the academic debate on the best security systems, action? do enterprise customers saw the news cycle and said, we are changing how we do cyber? tom: no. [laughter] they were just trying to get out of the disaster, i think.

i think going forward there will be a time of reflection into, how do you prevent this from happening? how do you keep a vendor from having this consequence? and it is not just a situation of having multiple vendors, because that might even increase the problem. because if anyone of them has an issue you have a big problem. but selecting the vendors who put the extra investment into commitment to making things stay as reliable as possible. ed: tom, i guess closer to home for you i'm a a higher profile ddos attack in june. what do you make of that, and microsoft's handling it, and how did it impact you? tom: ddos attacks are probably the oldest kind of attacks out there. they go back more than 20 years as well. that is an area where we have leading services to help defend customers. in fact, just last week we saw one of the top 10 ddos attacks

of all time coming out of the middle east. with the war there. we were able to defend a very important financial and private -- enterprise from that kind of attack. even though it has been around a long time we are still seeing some very large ddos attacks, and it is important for enterprises to have state-of-the-art defenses. even today. ed: ddos. tom leighton, ceo of akamai. it is great to have you back on "bloomberg technology." i appreciate discussing use of light. we are going to talk about how some of the worlds in tech think about kamala harris' campaign with tech4kamala co-founder shannon nash, and also matt mahan, the mayor of san jose. that conversation is coming up next. q the beautiful pictures. expedia, 8.6%. strong quarter, positive discussion about the summer months. different to what we heard from

airbnb. an interesting one to track. this is "bloomberg technology." ♪ hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management.

>> i am now officially the democratic nominee. >> we were in atlanta georgia. when president biden was on the ballot democrats had conceded to losing the state. now that it is kamala harris, democrats say all seven swing states are back in play. >> she is not somebody i have researched too in-depth. >> she has kind of laid low, but that is kind of what vice presidents do. >> were going to see both democrats and republicans defining her in the ways they want those voters to see her. >> success for harris will mean sustaining the momentum that has been fueling her historic run. >> i get chills when i think about that, just being part of history. understanding we have someone who represents our community.

>> she is also a dynamic candidate. >> people if you ask a month ago they probably would have said that the country is not ready. but now people are rethinking that, and they are like, oh my gosh, this could actually happen and i could be a part of it. ed: you can watch the full story of that at bloomberg.com. and some of the recent guest here on "the bric technology" have been weighing in on the election and kamala harris. listen to this. >> they were going to be huge amount of money -- amounts of money that come in on both sides. >> people like myself are excited about what the kamala harris campaign stands for. >> she has been a long time supporter of the tech industry. >> she will do very well in a debate. >> she is from the bay area. she understands technology. >> she shares a lot of values that many of us in the tech industry have, particularly with regard to immigration and

ensuring that we are continuing to drive innovation in this country. -- drive innovation in this country. ed: let's keep the conversation going with tech4kamala, a grassroots group of about 1200 tech workers that just came out in support of the democratic candidate. tech4kamala co-founder, former wing ceos shannon nash joins us now alongside the mayor of san jose. shannon, good morning. welcome back to bloomberg technology. those points made in those soundbites and the backing that this new organization is giving actually are the same points that many silicon valley voices, venture capitalists in particular made in backing j.d. vance. i want to point that out, because we have sort of had equal coverage here on the program, but what compelled you in the first instance to be part of this movement, and what is it you see in, harris as being the right president for the

technology industry? shannon: i think what we have had is a few people with big, if you will, to be able to talk about their support of trump and vance. why we founded tech4kamala was to give voice to the over 7 million tech workers, people who work every day at some of the most well-known tech companies. vc's, founders, operators. engineers, marketers. you name it. and all of the industries related to tech. to give voice to other people who feel completely different, and in fact are supporting kamala harris for all of the work she has already done in supporting things like responsible ai, stem education, just being an innovative leader. that is why we founded the

organization. i have to tell you, within a week we had over 1200 people that wanted to jump on the bandwagon and also announced their support. so, you know it is one vote for one person, whether you have a lot of money or a big microphone. we still all get one vote. so, this movement is aiming to give voice to the millions of people who have one vote and want to make sure their vote is heard. ed: matt mahan, your city, san jose, is intimately linked to the tech knology industry as well. you come at this from the political perspective, but why do you think that the technology industry is an important voice in backing your preferred candidate? mayor mahan: well, add, before i was mayor of san jose, which is the capital of san jose -- capital of silicon valley, really the hometown for tech's workforce and home to many leading technology companies like adobe, zoom, cisco, paypal,

and on and on, i was in the tech sector myself. i first met kamala harris about a decade ago at airbnb, which was just down the street from a startup i was involved in founding and leading. and i was very impressed with her. no, she came in sharing her work on public safety, which continues to be top of mind for all of us, and she has great experience there. but she also engaged with a number of us who work tech entrepreneurs and founders around innovation topics. she understood the importance of having a diverse workforce and supporting immigration. intellectual property and the kinds of infrastructure investments we need and a commonsense approach to regulation. so, really excited that she is at the top of the ticket. ed: shannon, the mayor makes an interesting point, which is policy, specific policy. when it comes to technology, antitrust, artificial intelligence, i think a lot of people are asking questions.

are there specific ways that vice president harris will be different from president biden's administration on the policy side as it relates to tech? shannon: yeah, look. i think she is coming out with a lot of her policies. as you know, she has got 90 days or less, right? in terms of making her voice heard. what i will say to you is that we believe in an administration that continues some of the things that president biden was working on. i think that she will also bring a fresh perspective. she is from here. she was an attorney general. she has spent a lot of time, as matt said, really listening to what would be innovative for tech. i think we are going to see a lot of policies and things that are really helpful for the tech industry, but also that are inclusive. that is important to point out about something that i think a lot of people in tech like to see. ed: mayor mahan, local issues,

you know, our guest in that soundbite reflects on kamala harris being from the bay, and outside of technology there are issues, actually statewide, but the clearing of encampments, or encampment sweeps, for example, following the scotus decision. it is an interesting case study. how do you feel that issue will be addressed by the harris campaign, and how central as an issue do you think it will be in a presidential election at large? mayor mahan: look, i want a partner in the white house who is not going to use silicon valley or california more broadly as a punching bag. i want a partner who is pragmatic, who understands our region, who is going to help us deal with the very real challenges we face. he mentioned homelessness, which is an area where we are getting more pragmatic.

san jose saw a 15% reduction last year. we need a partner in washington who is going to help fund innovative solutions. the same goes for public safety. that is an area that i appreciate kamala harris has been a pragmatic centrist, and i think it is the right approach. mayor mahan, may i ask, from the trump-vance perspective the messaging of their campaign is that kamala harris has been responsible for what they see as being big issues with the bay area and california cities. your city is under the microscope to that extent. are you worried about that message resonating from the trump-vance campaign? mayor mahan: no, i'm not, because i think kamala harris has a record that can stand on her own and she can speak to her policy positions. it is kind of ironic. she gets attacked from both sides, for being too tough on crime or being associated with

what some see as california's crime problem. i think she is right down the middle, and that is where i am. someone who understands there has to be consequences for committing crimes, but we also should best in rehabilitation. i think she has got the right, pragmatic approach, and we need that kind of partner in washington as we navigate real challenges our state faces. ed: shannon, i want to go back to the idea that we talked about at the start, that many come on this program and said, j.d. vance understands entrepreneurs. he has been a venture capitalist. where the sea that as a positive or otherwise. they see him as being supportive of technology because of his direct industry experience. what would your answer to that be? and you see the same level of support for entrepreneurship from kamala harris? shannon: i think kamala harris, i actually see more support, frankly, for kamala harris. i think she has shown that

already. just by the supple fact that, you know, you have reported on how quickly some new people have mobilized. it hasn't even been two weeks, right? in terms of supporting her and supporting this ticket. i think her vp pick is also really impressive. so, what i would say to you is, it is one thing to have people come on this show with big microphones. it is another thing to listen to people. the 7 million people in tech. listen to what they are interested in. but they are interested in for their families. who in the white house will most represent them? i think that clear choice is kamala harris. ed: tech4kamala co-founder shannon nash, and san jose mayor, that may hunt, thank you both. -- matt mahan, thank you both. it is kind of a big moment for the nasdaq 100. on a five-day basis we are basically flat. completely flat, as you can see on your screen.

if the index drops on a weekly basis that will be five straight weeks of decline. the worst run of weekly declines going back to may 2022. if we end in positive territory by more than about .2% on the week, then that would snap four-straight weeks of declines. i guess the narrative would be different. earnings a bigger factor. nvidia is not until august 28. earlier in the week when we had that market pressure on monday, bitcoin was nearer to 50,000 u.s. dollars. it is now nearer to 60,000 u.s. dollars -- $60,000 per token. it has traded in an interesting pattern throughout the week and it is becoming part of the discussion around the election we just had. coming up on the show we are going to be joined by alexandra burbey, get the private markets take. investor at sound ventures. for her thesis on how to approach ai from the vc perspective. this is bloomberg technology -- this is "bloomberg technology." ♪

ed: this is "bloomberg technology." we were looking at a live shot of the principal room. check out the "bloomberg technology" podcast. on apple, spotify, and iheart. this is bloomberg. it is time for vc spotlight. we are taking a look at sound ventures. it is a firm founded by ashton kutcher, which has invested in airbnb, spotify, and more. the firm has over $1 billion in assets and founder alexandra burbey joins us now. it is good to have you here in san francisco in person. interesting move. could we start there and talk about, you know, how that happened, sound, are you wanted to going work with ashton? alexandra: i got to know the team over the last couple of

years and had really had an admiration from afar for what they were building. i think as the firm has evolved, one, they have invested in some of these incredible companies and some of the best founders. in the way those founders speak about them spoke to me. as an angel investor i had had the opportunity to work with a lot of early-stage companies. i had also seen some of those companies that had made it through 10 years with sound as a partner. often they had mentioned that their favorite investor is on the table. when you hit the type of feedback it is hard to not want to get involved. so, i joined the team a couple of months ago and it has been a great experience so far. ed: the particular interest to have in sound is the approach to ai. foundation layer, infrastructure. it is basically everything we talk about on the show everyday. do you have a particular focus within those three buckets? alexandra: your generalist as a firm, and i would say that

within that of course where we are spending all of our time is ai. it would be silly not to be saying that. the way we have broken out our fund is, in 2023 the launched a thematic fund. we invested in companies like openai, like anthropic. that was our thematic fund. we used those funds to work in parallel with our flagship funds. the flagship fund is where i sit, and i spend time with companies across the application layer, infrastructure, and then the everyday software layer, which is the companies we have been investing in for 15 years, but now they are using ai to their advantage. there companies that are using ai to speak to their customers better, to be more effective at what they do. and in that way we are really investing exclusively in ai companies, but it is because every company needs to be an ai company in some form or another or they will get left behind. ed: how the firm is run is interesting. there are large firms with people all over the place.

there are small funds with people here in the city. sound has a relatively large presence in socal. you will be focused on the bay area, or how is that going to work? alexandra: we are focused on where innovation is. to the extent that is in the bay area, of course we are going to be here. to the extent that is in new york and l.a., we are going to be there. wherever it is throughout the globe, that is where we will spend time. from that perspective we are not regionalized, but we do spend time with founders come all of those places and tend to try to meet them in person. ed: you were over at g squared, another name known to us at bloomberg technology. kind of consumer or consumer internet-focused background. are you going to carry that forward and merge with ai? or is that an area you have left behind? alexandra: my background has always been generalist to a fault i've spent time in many different industries on purpose, and it has been very deliberate to have the kind of breath of

experience and breadth of founders i have worked with. at sound i would say that carries on. many people think about sound as being an exclusively-consumer firm as well. that is a misnomer. people are surprised when they tell -- when we tell them we have invested in the series c. that surprises people. i like that element of surprise. i think having a consumer background is helpful -- helpful for the enterprise, because consumer companies think about brands, day one. ed: pretty good at telling stories. alexandra: it takes a lot more for them to get to that go to market. they are focused on their product day one and the technical side of building out their team. you can be a helpful storyteller because we have this consumer lens and we are able to help them in a differentiated way, because consumer is part of our roots. i think that bringing the two of those together is something i am excited about. and i'm looking forward to it. ed: alexandra burbey of sound

ventures, ray to have you on so early on in your time in a new firm. and in san francisco. muska sued an advertising group over organizing a boycott of ads on xp and now that group is shutting down. we will have the details next. this is "bloomberg technology." ♪ with so much entertainment out there wouldn't it be great... ...if you could find what you want, all in one place? show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some

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ed: it is the final few days of the 2024 olympics in paris. the global share case has -- showcase has been going viral daily. it is not just sports, but also chocolate muffins. no region swimmer hendrik christiansen went viral on tiktok for videos about his love for muffins in the olympic village cafeteria, gaining more than 20 million views. another breakout star is turkish shooter use of ketch, who went viral for winning the silver medal in air pistol shooting without using any equipment. the athlete caught the attention of elon musk, who posted a meme of the shooter on x. responsible media, a coalition of advertisers, dissolved yesterday, days after elon musk's ex father lawsuit against it over organizing a boycott of

the platform's advertisements. the coalition says the whole ordeal has drained its resources and finances, prompting it to stop its activities. joining me, asian accounts. i have done a lot of reporting over the years on musk's litigation. it is a tool he uses, explain what happened in a 24-hour period. >> it was so fast. the basis of the lawsuit was that this organization caused advertisers to flee the platform. part of what the responsible media does is set guidelines around the type of content an ad can be next to. disney would not want their ads next to pro-nazi content. after they come according to musk, led to this boycott, he filed this lawsuit and now they are dissolving because they don't have the resources to fight back. this is a tech musk has done over and over again. he did this last year with two

organizations. one was a research organization, another a nonprofit. because they found harmful content on the site. ed: earlier this week we played some of the soundbite of linda yaccarino, the ceo of x, and what she had to say about it. you have also been writing about this information -- misinformation. it is important that it is falling off the priority list in some places. what is it you are trying to outline here? aisha: it feels like a shift. but this is something that has been happening for years. this moment feels different. he saw this with the war between israel and hamas. you mentioned the u.k. riots. misinformation circulating. the problem is social media platforms may label it, they may take it down, but by the time they do there are already millions of years. ed: for the u.k. riots. it is also who is involved in the sharing of that information,

so one thing musk has been caught up in is sharing what appeared to be articles about that situation that ended up being not a real news article. that is one example. aisha: it is a great example. it is a terrifying example. he shared a fake article from the telegraph and the telegraph later came out and said, we never created that. but he shared it and it got almost 2 million views before he took it down. ed: but he did take it down? aisha: it was deleted by the original creator, i believe. but, again, almost 2 million views by that time, so the damage is in some ways. ed: aisha couts, important reporting. that does it for this "bloomberg technology." a big thanks forever and in the control room in new york, in san francisco, and the studio crew. check out the podcast. there is a lot to recap. from san francisco, this is

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stay salty. >> bloomberg real yield starts right now. manus: coming up, markets close on a volatile week that sent