>> goldman sachs says it is time

to -- and the push to ban tiktok. mark warner plans to introduce a bill to allow the u.s. to systematically ban chinese technology. that includes services like the social media giant. that and more coming up. modestly higher on the nasdaq 100, up about 41%. 500 the main gauge with u.s. equities. we impaired earlier gains and

are waiting on shout -- jet jay powell. we are treading water as the yield pushes up and bitcoin continuing to trade. it has a narrower range just above 20,000 u.s. dollars per token. when you think about equity names in particular, you mentioned apple and that goldman called pushing it up out of that parent company of google, considerably higher on the sixth straight days of. tems is under pressure to under pressure after cutting prices here in the u.s.. let's bring in donna hall who is reporting. where are the price cuts? what do we know about them? donna: tesla cut prices last

night. model s is cheaper and so is model x. plat is the same for both. what is significant is we have seen tesla tweak prices quite a bit. this is a significant change to come in march. we have roughly 3.5 or four weeks left in the quarter. tesla changes prices but is this a demand question or tesla trying to cut costs? ed: we every given go to our audience and ask what you make of this story. the question is do these price cuts push you to buy a very say these are too expensive. what has tesla said so far about demand? they tend to use price cuts as a lever. donna: muska said last week that demand for tesla's cars is incident and that the limiting

factor is price, so -- but the vast majority of tesla sales are the y. he has said that the us and the acts are like legacy models that people are fond of but they are still quite expensive. the fact that they are cutting at this point in the quarter it means they are trying to stop demand. they must have inventory. ed: you have a terrific piece out on this deep bench of talent at tesla. i thought this was so important and worth taking a look at. last week an investor day, elon musk is up on stage. behind him are 16 or so executives. i do not think we have time to go through all 16, but there is a top three of picked out. who are they? donna: this is the first time so

many people have been on stage with elon. it is a clear sign the company is trying to be like, hey, even though elon musk about twitter, we have this talent. comes to is a rising star, he has a growing remit overseeing manufacturing potentially in mexico. i got the presentation by rebecca tinucci was a spectacular that spectacular. we have never heard of her. and brandon ehrhardt received appeared on stage. he is the first big outside higher we have had it tesla in quite a while. ed: just showing those less familiar names on the screen. we have reported that tom has moved away from china. ehrhardt is interesting. we have reported a lot on the turnover of legal names at tesla. you have covered tesla for so long. why was this event different?

donna: this was a four hour event, so it was long. it reminded me a bit of battery day two point know where they were giving detailed and highly technical information about their thinking, but there was not a clear product announcement. i think a lot of retail investors and austria were disappointed. they wanted to see a concept of the car, not a future car under a weight she, but we did good to hear from a lot of people. part of tesla's talent is people. it is rare that they showcase people. ed: terrific reporting on all things tesla. in the world of ev's, amazon's zook's division is facing an inquiry into its safety standards. they are launching an inquiry for more information on the data and testing the company used to

certify its vehicle that was equipped with automated driver assistance software. the government did not cite problems or violations the announcement. the general counsel told me this is a request to gain additional detail and information on the self certification tests which have met or exceeded government requirements. we are committed to working closely with nhtsa and we remain confident. another story we are watching, goldman sachs says it is time to buy apple shares. >> goldman is taking a bite out of the apple, well, apple shares. they are recommending the stock as a buy pretty time in nearly six years. he says apple's large user base is going to help the iphone maker grow. because of its lead in design, goldman thinks apple is able to

reduce the number of users leaving the apple ecosystem and to keep making repeat purchases. back to the last time goldman had the equivalent of a buy on apple. the stock has rallied more than 30% since then. goldman-s price target is more than a 30% of site of the last close, way above the average target. goldman is done sitting on the sidelines with apple. an interesting piece we put out there on social media. because the stock also got a bit of a bump just in the session low. as we sit in the piece, up more than 300% since the last time goldman had the equivalent of a buy. apple is gearing up to launch its next slate of apples, desk tops and that new imac. you write this morning about what is to come. what do we expect? >> new maps are coming soon. there is going to be a new 15

inch macbook air. this will be the first time apple has made a larger sized act but air. that will be appealing to people who want a bigger screen size but cheaper. some people like me have the biggest macbook pro, not because you want the performance but because you want the screen real estate. now you can get that in a later and cheaper package. also a 13 inch macbook air coming. and updates that will have an m3 chip. speaking of new apple products, there is also coming sooner than these new max. imminent i am told is a new iphone 14 color. look out for that this week. ed: a is interesting. you and i started the year focused on the upcoming vr headset, but you forget that the cadence of new products and releases is quite closely track. you wrote in the newsletter the most frequent person i get ahead

of my weekly column is something along the lines of when is a new imac coming out? why is everyone waiting on that? >> the imac is what started apple over again under steve jobs in the late 1990's. this always one machine that now has become an ipad with a 24 inch screen on a stand, that is not the most popular mac. that goes to the 13 inch pro as well as macbook air. it is well received in schools them in computer labs and such. people like to put them in living rooms and kids rooms. people who work from home, it has been a hot buy. that machine has not been updated since april 2000 and one. -- 2021. people do not want to buy an m1 imac which has been outdated already for six months to nine months, if not longer.

they want to know when the new one is coming up. i am told it has reached an advanced stage called evt. they are doing test production and gearing up for mass production. it will look similar, have basically the same features as the current model but that faster m3 chip which will dilute performance and that is what you want for the machine with a 24 inch screen for people doing video editing. ed: let's talk silicon quickly. which chips duty new generation of macbooks half? mark: the next check for apple will be that m3 chip. i do not believe that is going to read until later in the year with either that imac or that update to the 13 inch macbook air. this 15 inch macbook air will come with it sooner than the m3 chip's availability. that is likely to have a variation of the m2 or empty project that is already available in those snap of prose. the 13th and jeanette prepared

today, but the m3 check, whenever that does hit is going to be a considerable upgrade for anyone coming from an m1. this the first time apple will move to a three nanometer production technology. that will allow apple to develop speed on the cpu site, but also because of that new production process, the efficiency and battery life is likely to improve. ed: thank you so much. remember to subscribe to mark's weekly column. coming up, the new china tech competition bill is working his way for the senate and tiktok is enemy number one. i want to check on shares of snap. almost 10%. the seeing some readthrough of the crackdown on tiktok and snap shares getting a boost. we track that story coming up. this is bloomberg. ♪

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that's stitch fix. ...and how can you help me? we do the shopping for you. you tell us your size, budget and style. wait, is it a subscription? no. style for me? for me? for me? always. we'll pick the clothes. you enjoy the great fit. stitch fix. >> do you have 100 million americans on tiktok 90 minutes a day. they are taking data, not keeping it safe. what worries me more with tiktok is that this can be a propaganda tool to play the kinds of videos you see.

if you look at what tiktok shows two chinese kids, which is all about science and engineering versus what our kids see, there is a radical difference. ed: mark warner plans to introduce a bill to allow the u.s. to systematically ban chinese technology, including services like tiktok. kailey leinz has more. what do we know about this bill? kailey: we know it has bipartisan support because of mark warner's cosponsor is republican john thune south dakota. this is deary is reporting on both sides of the aisle and it gives the u.s. the authority on national security concern grounds to ban or prohibit certain chinese technology in the u.s. when asked about that, he said yes, that does include tiktok. as you saw in the clip therein, he has two concerns, one about

propaganda and the other about data security. as we scroll on tiktok, data is being collected. the concern is that the chinese company that would have that data being shared with the chinese government. it is important to note that the company says it operates independently but there has been significant pushback against that, including from the fbi director, who has said that china controls the algorithm and can access the data. this is the concern with yet another potential legislation being

engineers, site reliability folks. this is something a lot of people thought would happen when elon first took over. it did not right away. but things are certain to catch up to the company. ed: we did get a response from elon musk that went some way to explain what caused the outage. the point is they are trying to make a small small api change hd a massive ramification according to elon musk. this is happening regularly.

where the dues into -- doing to cause this? >> when you go from having thousands, from hundreds of engineers, one though change come when the bug you have to detected, and may not -- it may only be down for an hour is the kind of thing that may have gotten caught or fixed quicker had there been more bodies in the room. i think we are just seeing the price of all these cost cuts starting to have into the platform in terms of liability. >> -- reliability. >> still a platform people are using. coming up we are bringing the latest in tech news from china, as president xi jinping is emphasizing the country's investment in the tech sector. that is next, this is embarq. -- bloomberg. ♪

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ed: time now for talking tech. let's get over to china, bao fan , cofounder of china renaissance, has vanished. they -- the firm it says he is cooperating in an unspecified investigation. sending shutters through china's corporate class despite encouraging. words from state media. president xi jinping is officially backing the tech sector. in his opening remarks of the national people's congress is said the company -- that they

would take forceful measures to support high-end manufacturing. they need to make sure they are self-reliant in technology. as part of that grand project china plans to create a central agency to manage the flow of data within the country and abroad. according to the wall street journal citing sources. beijing intends to set up a new national data bureau will become the top overseer of data related issues to strengthen control over the value -- valuable data generated by swaths of the economy including the internet industry. a satellite start up with you status perhaps a key launch, the private space race takes off. later an exclusive interview with grinder ceo, george, on earnings in the online dating industry push. all that to come. this is bloomberg. ♪

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ed: i am ed ludlow in san

francisco this is bloomberg technology. the private companies space race is taking shape after venture capital firms spent more than $6 billion on space related tech. based race is dominating launch and growing its own constellation of startling satellites, competition is heating up between smaller players. recently valued at $1.4 billion. joining me is the ceo, john. tell me about this company. you have this big moment. the satellite is built. it is moving just down the road from where we are sitting down to florida. why? guest: thank you for having me on the show. we built a new kind of satellite, and microsatellite from -- four higher orbits,

geostationary orbit, you can put a satellite up into space and parking over a country providing continue it -- continuous service with that one satellite. that allows us to provide service at very low cost compared to other types of satellite applications, compared to the old school satellites have come before, today is a big day for us because we are launching, we just shipped our first satellite out the door. it is arriving at cape canaveral as we speak, it will be integrated onto a space x rocket for a ride into space. ed: we are showing pictures on the screen for a being loaded into the container. how does it get into space? guest: we will be writing on a rideshare of a falcon heavy rocket. ed: is there a date? >> the week of april 8th. there is a large window.

ed: this is a satellite that will provide capability for a commercial customer, a private sector customer, right? guest: we have a private customer and the u.s. state of alaska called pacific data port. they are an internet service provider. we provide trunking and backlogs -- i thought capacity -- backlog capacity. this is the first time the state of alaska has had a satellite dedicated to them. it is not trying to call -- cover all of the u.s., or north america, just dedicated for that area of alaska and our customers there. that is what we do, we put up dedicated satellites for our customers and provide really low cost broadband communications. ed: $1.4 billion valuation in your last round, you have some

big backers, this is one satellite is this rented -- revenue-generating, does it market a step forward in the business? guest: it is a fantastic proof point for us. obviously the first satellite generating substantial and recurring revenue on a services basis. that is what we do. ed: what is the model for you, long-term? how do you make money based on the satellites you are building? guest: we put up the satellites, own and operate them, release capacity. gigabit the second on a ongoing lease basis. we have products like that in work all over the world. you asked about what may be coming next. we have five satellites launching this year. this is the first one. we are spooling up the satellite factory in san francisco as we speak to get to the point where we can build to satellites a month. huge production scale. ed: you talked about the kind of

cadence of satellites you hope to to deploy for the rest of the year. are those spacex as well? guest: we have procured a dedicated launch on a spacex falcon nine plague this year for a 4 -- four a four pack, four of our satellites flying together, just us and no one else. the first time we are moving away from a rideshare launch. for future lunches, we will see from their -- launches we will see from there. >> how far in advance did you have to commit to secure the falcon nine launch capacity? guest: typically a couple years in advance, they have been flexible with us, they have been a fantastic partner. this new piece of space

infrastructure opening up space for companies like ours and other applications all over the states ecosystem. ed: how much did it cost you to secure the falcon 9? guest: i will not going to pricing here. spacex -- all things being equal rockets are incredibly affordable. you look at what has come before, old-school rockets like atlas and delta rockets before space x. they were unbelievably expensive. a dollars per kilo basis. we found spacex to be incredibly affordable and they have been a great partner. ed: that is one part of your business, servicing private sector customers. the other side is the public sector. existing relationships with the dod or the military. how important is that you, servicing what is basically public requirements for connectivity a satellite capacity? guest: it is an incredibly

important mission and the world has changed in the last year. we saw a huge change in the thermodynamic. now we were -- global dynamic. now we realize how important it is to service the national security needs. in ukraine, when the russians invaded by the first things they did, on day one of the invasion is launching a massive cyber attack against one of the very large geo satellites. they took out the satellite in one swoop that was providing broadband columns over ukraine. when that happened it was a real turning point in our industry. it made the point of how urgent a letter this was to get better space infrastructure in place. ed: it sounds like there is demand for your satellites. the restriction is how quickly can build and deploy them into orbit. is there a need to raise more funds to bridge that gap privately or going into public markets? guest: sure, right now we are

heads down to get the first satellite out. to get it to be successful. there will be a conversation later this year. get that up and operating there will be a big moment for us. ed: astranis ceo, john, good luck getting to orbit. a key tool of the crypto industry is suspended as a silver gate fall out continues. that is next. this is bloomberg. ♪

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>> ai israel. -- is real. >> not crypto? >> not crypto this is a technology that is staggering and we are fully engaged. with ai you need to be in the cloud to use the computing power. with the cloud in digital power they are all related in that way. ed: j.p. morgan chase ceo jamie dimon, speaking to the other british ed. we are learning more about microsoft's generative ai strategy to take on the likes of oracle and salesforce. they plan to build a copilot i can answer customer calls, summarize sales meetings and build monitoring -- marketing pages. rachel is here to explain. this is her first day at

bloomberg, longtime artificial intelligence reporter. while it is new to us it is not new to rachel. let's start with the basics. what is microsoft talking about? guest: wanting to use ai to reduce ai to do a -- ai to do a whole range of tasks. talking to customers, email based campaigns, releasing in a preview based version and a number of companies will be trying it out. ed: this is called dynamics 365 copilot, why do the tools have such ridiculous names? fdic -- guest: i wish i'd new -- knew. ed: like google's bard or mentor going with lama. it is an acronym. it raises a point, for a few weeks we've had a lot of folks on the show interested in generative ai, some of them are

quickly pointing to the enterprise application over the consumer facing chat gtp things. why is enterprise such a cube battleground for ai? -- key battleground for ai? guest: that is where the money is at the start, if you want to popularize the technology is companies that want to make the initial investments. that is where you will get a recurring revenue as well. it is a good place to start. >> finally, what is on your radar? day one at bloomberg covering artificial intelligence what are you looking at? guest: everyone is looking at chat gpt and chatbots, they are not new, but we will see a lot more of that. generative content in general, images and videos are coming -- quickly . . coming on the horizon it should

be interesting for generative horizon -- content. ed: day one, check. let's turn to crypto that lost a key piece of financial plumbing for moving money in the industry. silver gate capital's exchange network has been suspended while the bank struggles to survive. bloomberg sonali basak, shares under pressure this monday, what is going on? >> nothing like we saw last week where the going concern warning was brought up in a regulatory finding -- filing. you see banking and exchange partners, more the industry distancing themselves in recent day from silvergate. the closure from the exchange network, the halting of this, silvergate use to in deposits this way. it was essentially a way for the industry to almost

instantaneously send money, denominated in u.s. dollars in euros i was known as sen. an essential piece of plumbing in the crypto industry. it is not shocking now to see the step back in such a drastic way. we are talking about silvergate here, which is almost like a commercial bank. a bank that has advances from the federal home bank, operates under the jurisdiction of any other big normal bank in the united states what. >> there are dozens the headlines in the bloomberg terminal mention silvergate to start the week, have this bank into the mess? >> they were handling a couple hundred thousand first of -- worth of transfers in the last couple of years thing came under pressure last year. they brought -- bought the stablecoin business facebook was

handling, you saw it go to $20 under pressure for real, then you saw ftx happen. they had less than 10% of its deposit base at silvergate. a meaningful client, but less than 10% of the total. then tom started to exacerbate, the history became a concern and the deposit pulling happened at a faster rate after ftx. silvergate is under investigation, because of its relationship with sam bankman-fried. investigation underway as well as a financial problem here with deposits being trained in -- reigned in. silvergate is fighting a two-pronged war, with how deposits are mapped out going forward. ed: we have been talking about silvergate's issues for weeks and months. it continues to get worse and be a surprise. what is the cautionary tale?

i thought a few weeks ago it was a cautionary tale, what is it now? >> people have had their eyes on silvergate since the ftx debacle blowup, but the white house says they are aware of the situation and looking at the situation. think about -- it goes back to the point i was making. it is a bank like any other bank. part of the traditional finance system that took a chance on the crypto industry and now has to sell assets cheaply to pay advances from the federal home one system. you look at this firm, where regulators gave it a pass to enter the crypto industry. through its own potential missteps and broader industry issues you have a letter questions from regulators if they will allow this kind of thing again. it is about confidence in the future from u.s. banking regulars as well as silvergate self and the removal from critical in the structure from the crypto industry that allowed

this training to happen. -- trading to happen. ed: fantastic reporting. grinder reports fourth-quarter results as it continues to expand its ecosystem. you can see the shares are down almost 8% in after-hours. we will be joined by george, the ceo of grinder to go through some of those numbers. that is all next. this is bloomberg. ♪

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proven quality sleep. only from sleep number. fourth-quarter earnings, rising revenue year-over-year, although it fell by $4 million, topline growth 41% in 2022.

forecasting topline growth of 25% or better in 2023. the stock is down point -- 8%, is there something the street is getting wrong? guest: i do not pay attention to the stock on any given day. we are here for the long haul. we are a company for our users to use in creating shareholder value for the stockholders over the long-term. the company had an amazing year last year. from financials and engagement metrics. 111 billion chat -- set up this year to continue to drive growth in business with very strong even to for the year. we focus on the liquid part. ed: in the earnings call you talked about the international users. i am really interested in that,

how big is the opportunity for you globally? maybe some markets you discuss less here on bloomberg technology. >> grindr is a big product in the united states and the developed world in europe. we have a lot of users all over the world, 190 countries all over the world. a lot of country society is changing. the same way lgbtq is more acceptant than it was 20 years ago, other countries are going to the same change today. that is a big tailwind for grinder as we scale in the future. there are countries on the verge of equality -- marriage equality, there will be a bigger presence in that country inevitably. we are very excited about to take advantage of. grindr has been an important connective tissue for gay, bi,

trans users. ed: a big thing has been the premium tier of subscription, many platforms expire -- experimenting with pretty high prices. i know you also talk about premium, the removal of ads as an example. how big of a strategy is that for you? is there a demand for higher end products now? guest: for us it is both lower and higher end. grindr had to price point. the 1999 price point is probably too high for some users, and is not make sense for to be a entry point. offering an entry point with less ads and a couple additional features people want us to do. we hear that from users directly and our research. on the higher end. there is definitely an opportunity. finding a long-term mate if you

are gay or by his harder than if you are a street person. there is -- straight person. there is awesome machine learning matching we can do. do not be surprised if you do something on the lower end and on the higher end. ed: interesting about grinder is the lgbtq database, if you think about users globally. i know you talked about artificial intelligence and machine learning on the call. how well-positioned are you to leverage those tools to boost the top and bottom line? guest: we have incredible data about our users. as i mentioned earlier there were 111 billion chat messages sent on grindr last year. we have not built anything to take advantage of the information yet, but there is a lot of really great machine learning we can deploy.

for generative purpose is to help users post the right messages or from a matching perspective matching people by the -- better to help them find better relationships. having less spam and less not real profiles through ml. these are real opportunities and we are investing resources into. ed: have you spoken to open a i, as an example? people are trying to find tools for them and get moving, who are you talking to? >> we are going to try to build as much as we can on our own, there are awesome companies doing cool things in ai. partnering with them is a good opportunity. long-term we want to -- we are also super about our user's data, they want to be discreet in private with information so we generally do more things internally.

ed: grindr ceo, george, straight off the call. thank you very much. that does it for this edition of bloomberg technology, do not forget, check out the podcast, find it wherever you get your podcasts. on the terminal, spotify, ironheart, wendy into the week and headlines -- one day into the week, headlines from apple and so much to come. stay tuned to bloomberg technology. this is bloomberg. ♪ go. go air that runs factory. go sensors and software. go find leaks. go fix-em. emerson technology detects compressed air leaks to save manufacturers, like colgate, over 20% in energy costs. go brush your teeth. go boldly. emerson.

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