jimmy lai i'm caroline hyde at bloomberg's world headquarters

in new york. ed: and i'm ed ludlow in san francisco. this is bloomberg technology. caroline: elon musk could lose billions in court over his infamous tweet. there is a lawsuit after he claimed he had funding to take tesla private all those years ago. ed: alibaba risks a clash with beijing, we look into his request and investor activism in china. caroline: $500 per month for an elite membership subscription on dating apps. we will have fun with that one, as you did on social media when we took up all of your thoughts. the nasdaq clinging onto gains for a second straight day, longest streak since october 2021. the msci muted across the board. we are cautiously trading, the

msci world index was basically flat. managing to eke out just a little bit of growth even though the s&p snapped its five-day rally. nasdaq taking cues from borrowing costs, we saw yields showing that may be the market is getting more confident that inflation is in the rearview mirror, at least peak inflation. hopes that the federal reserve will calm the focus on inflation. that is helping the mood music around tech. around bitcoin, for 13 straight days -- no, 14 days, that we last saw such a winning streak for this crypto. up 28% since the start of january, applicant winning start of the year for crypto. ed: interesting to see the risk on mentality broadly. looking at the nasdaq, equity

seeing gains but there is an narrative around earnings recession. as we creep into earnings season getting underway with ne tflix. and we get the first launch of the year with a new mac minis. roblox ended 20 strong for the videogame maker in terms of bookings. and moves to the downside, we will talk about ryan callahan and his activist investor but on alibaba during the show, it was interesting given his repeat around the so-called meme stocks. amazon is interesting as well, down to percent, a drag on the nasdaq 100. it was coming off a run of seven straight days of gains, it's longest streak in some time, it was going into overboard territory, so some pullback

after a decent run. tesla, best performer on the s&p 500, really an outlier when it comes to performance of tuesday's session. there was a lot of reacting to the price cuts we saw in north america, some of that pointing to erosion potentially in tesla potentially missing ebita. now they are talking about an autos price war, and if there is a price war, when you compare tesla to other global automakers, it has more margin. but the background is the ceo in san francisco. caroline: let's dive into that. elon musk set to be star witness in a trail that started tuesday over his infamous tweets, four and a half years ago about a plan to take the easy maker private with "funding secured."

peter joins us. who is likely to win here? we know elon musk likes a bit of a fight. >> this is unlikely for a security trial brought by private investors as a class action. it is unlikely to go to trial in the first place, usually they settle because there is money at stake. in this case, billions of dollars, but as you say musk it is always up for a fight. but he is not an unusual disadvantage because the judge ruled months ago that the tweets were false. and the judge is going to tell that to the jury at the get go. there is still other things the jury has to decide, and could still be resolved in musk's favor but it is a disadvantage going into this. ed: you've been my editor on more than one occasion covering

these kind of blow-by-blow trials, but the jury is key, and sewer mechanics. we are going through jury selection, and not a surprise, some of the jurors had issues with elon musk. muska tried to move the trail away from san francisco because he argued there was bias among the jury pool. but this will not happen quickly and elon musk will be a star witness, so walk us through what happens from here. > they are getting close to selecting a jury, and have been carefully questioning jurors about their views, and whether they can commit to being fair and impartial. of course, the lawyers on both sides get a chance to speak up and dismiss jurors they don't feel comfortable with. but there's a feeling that they will reach a consensus before the end of the day on the jury. and we've got about a two and a half week trial where we will

hear from a variety of witnesses beyond musk himself, including some of the high finance people who were involved in some of the behind-the-scenes talks about funding this transaction. as well as some professor types, expert witnesses, who are going to talk to the jury about their theories of how the tweets may have influenced investors to make trades. and also to talk about what kind of damage this did to investors and how much money they should collect. caroline: peter blumberg getting us up to speed. it will run a while, until february first. apple brought out its new products of 2023. ed has a new apple product on him today. we go back to the high-end macbook pro, as well as the mac mini that have been announced

today. let's see what all the fuss is about. what do we know about these products that you have an already broken in the past? >> the new macbook pro and mini were introduced today. they are available for preorder and start chipping january 24, about a week from now. these are marginal upgrades, they look identical to previous models. the mac mini was the first to get the m1 chip as part of the transition away from intel. macpro debuted at the end of 2021. the mac mini get the same m2 c g -- bhip. it adds power on the cpu and gpu side. the gpu handles graphics and video editing and stuff of that nature. the macbook pro also get that

same m2 pro chip in the mac mini, and an advanced chip called m2 max which doubles the power you get on the graphic side, that is for video editors that need the most horsepower you can get in a laptop. ed: what caroline was alluding to is this weekend, i dropped my phone and it smashed, and no i face a choice of whether to upgrade. anyway, we digress. what tim cook alluded to was the emphasis apple has had not just on supply chain, but controlling its ip, controlling technology. i thought this latest generation was supposed to come out last year, was there a delay? >> the m2 line first started rolling out last year, it started to lunch at the end of

july. there was a delay because of the manufacturing facilities in china. they got shut down for a month-to-month that delayed the rollout of the macbook air and 13-inch macbook pro, that in addition to the chip shortage, and the need to allocate manufacturing to more pressing products like the iphone's and apple watches, something had to give, and that was this new macbook pro and mini, those were supposed to rollout last october. ed: the latest headlines and gadgets from the world of apple. microsoft plans to cut jobs in a number of engineering divisions as early as wednesday, according to a bloomberg source. it is unclear how many of the 2000 workers will be affected, it is the third round of layoffs since july of year. microsoft declined to comment, it has also eliminated open positions and paused hiring in many departments. caroline: coming up, it is going

all in on chatgpt. we will talk about the generative ai opportunities with michael dempsey, managing partner at compound. this is bloomberg. ♪

caroline: chatgpt is still in the headlines, this time because microsoft is putting the tool to use. the tech giant is mulling an additional investment in

chatgpt. ed: this is a curiously timed blog post from the company, partly because that is going on, and we know how things work at davos. they are boosting their funding into open ai, they had already invested a billion in 2019. they will bring them into the as your cloud platform. -- azure cloud platform. in limited capacity, microsoft has offered a small group of its agile clients the ability to use openai tools if they have their own tools hosted in azure cloud. if you are a company that hosted your own tools on azure cloud, you now have access to use gpt-3.5, dall-e, for example. they are opening that up to a

wider range of customers. we were asking about that investment, what's in it for microsoft? there is a lot of emphasis on their search engine. but there are other use cases about how the language models and underlying artificial intelligence can improve office, and microsoft teams as well, so it's a really interesting development they are being more open about although there was still a lot they did not say in that blog post. caroline: more questions than answers as always, but let's put our questions to michael dempsey now, he is managing partner at compound and has investments in a number of ai, over $200 million in aum, give us the scale of the applications you are most excited about for something like generative ai. michael: for chatgpt, search is thing that gets everyone excited. on the first order, you can

think about how existential that is to google and how their economic model works. as you see more and more use cases become more emergent and professional ready in areas that start off as needing inspiration and move toward meeting 90% perfection, and then making their way to 99% plus, and then those middle areas you can think of like biology, material discovery, as well as a bunch of other enterprise software use cases. we like to think of this as something that is interesting across a bunch of different industries, that will come into a bunch of companies over moats over time. caroline: is that developing simultaneously with innovation? are you worried about the rules and regulations, the steering of the road not being formed quickly enough? michael: with all emergent

technology, especially when they get the type of adoption that has been rampant for chatgpt, you see this concern around can read all this out -- roll this out properly? i don't worry about it as much. there is a lot of open questions around artist attribution. around ferrite usage around different types of data, whereas if you are pulling from different sources, should you cite those sources? but in general, the value continually outstrips the downsides. and we really should focus on the optimistic version of these technologies. ed: are you surprised, as somebody tracking the space between the time that reports came out microsoft was thinking about boosting its investment in openai, and then last night when a blog post comes out talking about how they are going to incorporate the underlying technology into their platforms.

as somebody who knows how these deals work and what the utility is, what is your read on these news announcements? michael: i am just continually impressed by microsoft over years now. they see the strategic asset that having these kind of foundation models implemented into their products can be. and can allow them to get in front of competitors. what you are going to see, as we all know a lot of other large companies are figuring out what they will do. google is the most notable one on the sideline. they have bigger regulatory headwinds, so they are being very careful. but all these new people that care about the scale of the problem and are interested in figuring out in one of the ways we can disrupt ourselves, or our bigger competitors, for microsoft, it has always been about disrupting competitors specifically from the enterprise later.

microsoft's ambitions will continue to expand far outside enterprise software. that is where people should be less surprised over the next 24 months. ed: i'm assuming there are parallels between the experience in your inbox, and mine and caroline's, since this story took off, lots of emails about startups working in the field of ai. it is hard to discern and distinguish those players that have genuine promise, those that have something unique, a strong underlying technology or ip. is that your experience, are you getting pitches from people seeking investment, and you are seeing gosh, i don't know what is real in the world of ai? michael: as someone who has spent the better part of eight years in ai and crypto from 2016 on, i am used to these hype cycles, and people adding verbiage whether it is web3, or now ai, to their pitch.

you have to understand one of the core special sauces of these founders and entrepreneurs, are they product or technology centric, and i think really most of these teams are not technology-centered. they are not at the bleeding edge of machine learning, and if you are not there, you have to be early on the product side. we will see both a lot of people that pitch ai that never even got there, but also a lot of people that integrate open ai or other ai's that are taking up quite quickly but suffered by having no real moats to these businesses. caroline: i think back to a google u.k. startup deepmind that it first purchase. where in the world of these companies getting built because it seems to be very u.s.-centric? michael: puk is one of the most

interesting places in the world for artificial intelligence, it is the u.s., toronto, waterloo, but the concentration of talent in those places is obvious. investors are helping waive ai, a company for self-driving cars. we are seeing these machine learning researchers no longer wanting to be in academic settings. a lot of people in europe and london specifically were in deepmind publishing these amazing papers, and now they are seeing chatgpt get 5 million people in a couple days and saying, it's been cool sitting around working on technology for years, but it is time to go and build. ed: michael dempsey, managing partner at compound, trying to discern what has promise and what is not in the world of ai. coming up, the energy crisis in

europe and potential recession in the u.s., is there still light at the end of the tunnel? the ibm vice chairman gary cohan seems to think so. this is bloomberg. ♪ d owner. when covid hit, we had some challenges like a lot of businesses did. i heard about the payroll tax refund, it allowed us to keep the amount of people that we needed and the people that have been here taking care of us. see if your business may qualify. go to getrefunds.com.

the first time you made a sale online was also the first time you heard of a town named... dinosaur? we just got an order from a dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. godaddy. tools and support for every small business first.

ed: in a data post, some tech leaders are optimistic about the economy. ibm's vice chairman gary cohn spoke to bloomberg about that and the energy crisis in europe. have a listen. >> up at the risk to germany was the energy situation going into the winter, to the extent that we had a old winter, and they had to ration energy and cutback industrial germany to keep people warm. i felt that was a really tough situation potentially, we are now deep enough into the winter, we know what is in reserve

storage. germany will get through the winter fairly easily with energy and will continue to power through, so i agree with the chancellor. >> are we heading to recession in europe? >> europe will muddle through, the u.k. not as clear. it will not be easy, we still have high inflation in europe. it's a difficult situation. in the u.s., we raise interest rates, and we can handle it, but the picture in europe lagarde has to deal with is different. germany can handle higher interest rate, southern europe has a lot more difficulty with the reality. >> you are the director of the economic council, what about the united states, the chance of recession? jane fraser of citi thinks the second half it is quite possible. >> at davos, everyone is negative, that tells me we should be positive. i had dinner last night with a

lot of global ceos, most of them were pretty negative about the economy but when they talk about their business they were positive about their business. everyone thinks everyone else has a problem. my opinion is i am pretty optimistic. that doesn't mean we are having a bullish economy, what i'm optimistic about is i think we can muddle through where we are, the fed is getting to the end of their tightening cycle. we may have a couple more 25-point increases, topping out at 5% fed funds. but we have all factor that into the situation and i feel like we are all in a relatively good situation. the consumer is okay, not great, the economy is slowing down but i think we muddle through. caroline: ibm's vice chair gary cohn in davos. crypto shares of silver gate spike today, after ftx posted a one billion-dollar loss,

silvergate is trying to not get the fallout from ftx which caused clients to draw down more than $7 billion in reserves. the cavity has $6 billion on hand. ed: the warriors were over at the white house. some keen startup investors themselves, including steph curry, who looks at the world of startups. and one of the co-owners also a partner at kleiner perkins. big day for the bay area. this is bloomberg. ♪

thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh

caroline: welcome back to "bloomberg technology." on caroline hyde in new york. ed: and in ed ludlow in san francisco. caroline: ed, it's a pretty rare case of an activist targeting a prominent chinese company. meme stock investor ryan cohen has taken a stake in alibaba and he wants the e-commerce giant to buy back more shares. funnily enough. that could put cohen maybe even at odds with china's probe -- china's president, xi jinping, whose administration has wiped out alibaba and other big tech companies. but is it a returning of the old guard? bloomberg's yiqin shen is joining us now. first and foremost, we know his power over gamestop, bed, bath &

beyond, but he does not have much power over the share price movement of alibaba. yiqin: it is interesting because if you look at the stock market reaction, alibaba is down about 1.6% along with other chinese adr stocks during the u.s. session and only managed to go up slightly overnight in hong kong when the news initially came out. it is very different from the huge rally we saw in the meme stock rout. i think it points to something about bigger questions hearing from investors. because this is a chinese company and as for an activist, how much real impact and influence he could have on the board. because first, his stake is pretty small. think about alibaba as this huge tech giant of more than 300 billion market cap, and his position is like hundreds of millions, so that is limited power. also, i think what is tricky and more interesting is beijing's perspective.

because beijing is taking off the so-called golden shares. it is a minority stake, but it will allow the chinese government to have the rights, or the control, or influence on the board to sway important decisions. from that perspective, the activists' voice could ultimately be undermined if they are at odds. i think that also points to the overall background. it is very rare in china. asian investors are also just not that familiar with that kind of concept. ed: it was only last thursday that the reports came out that chinese government entities were taking so-called golden shares not just of alibaba but tencent as well. and activism is more rare when it comes to china tech, mainland chinese companies. my question is, you strip out all the noise and his demands, what is the outlook for alibaba? there was a bit more optimism at

the end of 2022 because there was a pullback on covid zero, a bit more supportive of e-commerce stocks. yiqin: that's right. right now, for activist or as an investor it is a pretty , good entry point because many would argue now we are at an inflection point for china equities. like you mentioned, it is because of the china reopening trades is raising hope. also on the regulatory front we are seeing more and more signs beijing is finally easing away from the regulatory crackdown, and that is the initial trigger that caused the brutal selloff in alibaba. so now people are more convinced the worst is behind, and hopefully with this influential investor's engagement, it will lift sentiment or bring more attention from the retail traders in the u.s.

caroline: what about alibaba buying back its own stock? given it is still at about 60% discount versus the highs of 2020. would aliba management with or without ryan cohen think it is a good idea? yiqin: i agree. alibaba has actually already started to do so from last year and has expanded shareholder share buyback programs. it is underway. i think it just remains to be seen if they ramp up efforts, but it is already on the table. ed: if you are ryan cohen and you are trying to convince alibaba's board or the chinese government of change, which demand do you think is most likely? that is a difficult question, but which demand is he pushing for most? yiqin: i would think share buyback is probably the right aspect, just given that they are sitting on piles of cash and how to better use that part of

capital is a strategy i think the board needs to be considered thoroughly. caroline: fascinating. alibaba is about 50 times the size of gamestop? quite a different ballpark he is playing in now. yiqin shen, we thank you so much for staying on top of the news. meanwhile, we have had a bit of news in the world of autos. ed: yeah, it was an interesting early start talking to gm, because chevrolet just unveiled the first ever electrified corvette. okay, electrified, kind of. 70 years after the first corvette concept was unveiled in new york city, this is a hybrid. 0 to 60 in 2.5 seconds. not a plug-in hybrid, though. i caught up with gm president mark reuss about why they put a battery of sorts in their sports car, and what this fits in with gm's transition to electric. take a listen. mark: the car itself is so different.

and it really is something that takes advantage of the mid-engine architecture and getting power to the front and rear wheels that makes it all weather machine. we are very proud of it. it is an engineering marvel. today is a big day for the whole team. ed: this is the fastest ever production corvette. the electric, or electrified propulsion system is a big part of that. going back to basics, this is not a plug-in hybrid, there are two similar propulsion systems that work in conjunction with one another. my question is, is this a sign that the corvette customer is not ready to go full electric, to go full battery electric? mark: that is a great question. i think the corvette customer is ever-changing, and so is the car. and so i would say this is the next step in the evolution of getting 160 horsepower in the front and 490 horsepower in the rear, all to the ground.

and so it is a little faster, a little quicker i should say than the z06, at 2.5 seconds. but it's very different. so when you drive the car, it is at home on the track, it is at home every day, as corvettes usually are, on all streets. this is the next step. as i said, the corvette buyer is ever-changing. and so, this is a pretty exciting time for us. i don't think it is a question of whether someone is ready or not. i think people, when they look at the car and discover the integration of the power, as you mentioned ed, and how we are doing it, and the sophistication and the integration, things like stealth mode and the launch itself. like i said, the vehicle dynamics on the track, when you actually have the front wheels actually pulling and doing things that the regular doesn't do. i think it is just the next

evolution in propulsion performance vehicle dynamics and sophistication. ed: let's get an update on the electrification plan more broadly. there is a lot of excitement, and quite clearly a book of , demand for the lyric and the hummer ev. from bloomberg's reporting, the outlook still seems quite low for those two vehicles. what is the situation there? mark: we bit off a lot in terms of having lower volume vehicles. until our own cell plants are brought online. we just brought our first plant online for the cells of all those vehicles in ohio. the next one on a volume basis comes in springhill, which is built just adjacent to the lyric. these are all new electric vehicle platforms. they are not retrofit

architectures with batteries, as some of our competitors have done. so we are doing this right, we are doing it for the next 20 years, we are not doing it for the next two years. i think you are going to see those cell plants come online in high volume, which is happening right now. and you are going to see the output of the first ultium vehicles increase dramatically over the next year. caroline: gm president with our own ed ludlow. more news in the auto world for you. uber and hertz are joining forces for expansion plans across europe. hertz will be making as many as 25,000 electric vehicles available to uber drivers in european capital cities by 2025. almost 50,000 uber drivers have rented a tesla through hertz since those companies partnered last the expansion is going to october. begin in london this month. ed: fascinating. we talk about demand. i asked where they are going to get all those ev's from. coming up, a new bill in the u.k. could put tech executives

behind bars. this is bloomberg. ♪

ed: meta platform's president of global of lawyers -- global affairs says the company is in a period of transition, but also in the very early stages of that transition to the metaverse. that is that growing legislation and scrutiny is placed on social media apps around the world. he spoke with david westin in davos about the transition and the threat of other tech giants like tiktok owner bytedance. take a listen. nick: i think you see this huge pendulum swing from the tech euphoria of the past where tech could do no wrong. the era of the arab spring where all things bright and beautiful were held to be produced by tech . and now, of course the pendulum , has swung pretty dramatically in the opposite direction. and everything that is bad, whether an election or referendum outcome people don't like, is ascribed to social

media. part of finding a resting place for that pendulum, because extreme optimism and extreme pessimism are both as foolish as each other. of course, involves regulation. there are issues like data privacy, content rules, data portability, the rules of how social media platforms should operate during election time and so on. all of those are rules that should be set, not by technologists, not by engineers on the west coast, but by legislators elected by voters. i think that is the process you are seeing. it is most advanced in europe, but you are seeing that debate in d.c. as well. it is not producing legislation as much as it occurs, but also in brussels, in london, in australia, you are seeing this move towards regulation. i suspect some of it will not stand the test of time, and other bits of regulation will make sense and will stand the test of time. david: i suspect one of the reasons you have your important position in meta is you have been on both sides.

you have been elected to parliament, you have been deputy prime minister of the u.k., so you have seen the government side of it, and now you are seeing the private sector side of it as well. i am not saying there is any right answer, but give us some principles. from your experience on both sides of it, what are some basic principles you think should be followed? nick: i think the secret is in that name, that word, principles. where things go wrong is when legislators -- who are not technologists, they don't know how ai works and so forth -- i think where things go wrong is where legislators try and impose some sort of static condition on technology that moves very fast. i think where legislation and regulation makes more sense is when it is based on some principles which are sort of evergreen principles that can apply to different technology, and to technologies that evolve over time. look at these big companies like

meta, google, apple and so on. look at their systems, hold their systems to account, but don't try and micromanage every bit of content or every change in the code that is used to produce the product. that is the fundamental lesson that i have certainly kind of observed so far. david: it strikes me one of the big issues not just in davos but for the globe right now, is some differences in systems. there are differences between europe and the u.s., but fundamentally the systems of the same. china is quite different. they have a different approach to social media, including other things. can we have a world where they are integrated or can it be bifurcated? does china go its way and the west goes its way? nick: i think they already have bifurcated. we don't have a global internet. it does not exist. we have a chinese internet, which on its own terms is highly successful. it is walled off from the rest

of the world, subject to a great deal of internal surveillance, but it does not welcome -- for instance, facebook is not allowed to operate in china, whilst of course, chinese companies are allowed to be in the u.s. david: how big of a risk is tiktok? a national security risk, because many in washington think it is. nick: i will leave that to the national security expert. i will observe to your earlier question, there is not a level playing field. chinese social media companies are able to operate both in china and in europe and america. we are able to operate in america and europe, but not in china. at the moment, there's an imbalance which doesn't in the long run make a whole lot of sense. it is partly because the approach to data, the approach to privacy is just very, very different culturally, legally, and politically in china than it is elsewhere. and then there are slightly more subtle, narrow differences between the eu and the u.s. as well.

one of the interesting dynamics you have is the european union now leading on new rules and regulation, but not leading technologically or commercially. all the big tech giants are either in the united states or china, and yet it is europe who does not have the big tech giants that is inventing the rules for them. so it is a very interesting jigsaw. i would actually add a fourth element, india. you have europe, america, china, and india, those are the four great big jigsaw pieces that make up how the internet operates in the modern world. caroline: meta platform president of global affairs nick clegg having a very global and legislation focused conversation there. let's talk about global legislation the u.k., where nick , clegg used to be, well, deputy prime minister. it could be on the verge of passing legislation that commits social media bosses behind bars if they break certain rules. prime minister rishi sunak intends to sign the online safety bill with criminal sanctions for tech executives. the bill aims to protect anyone

under 18 from harmful content. that means if regulators find a platform has been pushing teens to see content inciting violence, misinformation, some executives could face up to two years behind bars. the online safety bill is expected to be signed as early as spring, ed. this is after what was a big backlash from his own conservative party members, the backbenchers as they are known, wanting to take out a certain amendment that would remove any criminal liability. what is so interesting is basically taking a leaf out of ireland's book, because they already have this precedent set. ed: all social media players have been thinking about this issue for years. meta is a really interesting example in light of what the u.k. is doing. because go back to 2019, zuckerberg's op-ed in the washington post, "we need new rules for the internet." meta, then facebook, should not be the one to form those rules. then the meta oversight board was brought in. it has always been that someone else should act.

now they are acting, and this is actually a pretty severe course of action the u.k. appears to be taking. caroline: the irish legislation, it does have checks before that. it is not suddenly you are deemed legally culpable and put behind bars. you apparently get a series of checks, including if they do not comply with warning notices from the country's online safety commissioner. in fact, these rules are already applied to certain industries in the u.k. just think of builders, for example, the construction companies, banks even have a layer of accountability up to the highest executives. it will be interesting how this is kind of navigated, both legally and in practice. ed: yeah, and social media is just as societally important as those things you just mentioned. it will be slow-moving, we will see. coming up, can you put a price on love? tinder is considering a subscription that will cost you, wait for it, $6000 a year. this is bloomberg. ♪

so, am i still on track to reach my goals? the plan we created can withstand uncertainty. lately everybody has opinions about the economy, but i count on personal financial advice. my ameriprise advisor understands the markets and me. she knows my goals and can help me reach them with confidence. the markets may fluctuate but you're still on track. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about.

ed: can you put a price on love? hinge, the dating app owned by match, thinks so. they are going to offer a new suspicion level at $50 to $60 a month. the idea is to go after gen z app users who are quote, highly motivated daters, and in return offer them enhanced features that boost their profile and their chances of finding a match. but it is quite a jump from hinge's existing $35 a month offering. match teased the new hinge tier

in their latest earnings report, saying it would be targeting, at quote, the most intentioned users who have a higher, quote, propensity to pay. $50 to $60 a month? can you put a price on love? caroline: can you? did you? i mean, i know that you are a man who -- well, many have found love through certain dating applications. would you in hindsight spend $6000 a year? but it is kind of an amazing way to be amplifying your margin. ed: these are two different products. you have hinge, $60 a month, palatable. you have then got tinder thinking about $500 a month. we asked the audience what did they think. i think the results speak for themselves, caroline. caroline: we threw in, are you sitting on the fence, or do you think this is all ridiculous,

and it seems as though it is all ridiculous. romance is dead, 61% think that. 7% said sign me up. i think this is trying to take on the elite-oriented dating apps, where you do pay an amount but you get perhaps specific targeted audiences, do you think? ed: full disclosure, i met my wife on hinge all those years ago. had i known then what i know now? cough up the cash. probably. caroline: do it. that does it for this edition of "bloomberg technology." wednesday we are going to talk all things crypto and bitcoin's bullish run. ed: don't forget, there's so much to recap. the podcast on the terminal, apple, i heart, spotify. this is bloomberg. ♪ ke. with a partner that always puts you first. godaddy. tools and support for every small business first. >> the following is a paid

program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates or employees. >> the following is an important paid program about humana