announcer: from the heart of where money, innovation and heart collide, this is "bloomberg technology" with caroline hyde and ed ludlow. caroline: i'm caroline hyde in new york. ed: and i'm ed ludlow in san francisco. this is "bloomberg technology." caroline: we will talk of the state of the digital consumer with the founder of mikmak joining us.

ed: we will sit down for an expose of conversation with the ceo of databricks, one of the fastest growing software companies, to discuss how they are utilizing ai to power the business. caroline: we break down the earnings from oracle as the ai frenzy spurs cloud demand. and how salesforce is focusing on artificial intelligence. let's focus on the markets. we have cooling in inflation. if you look at not the core cpi but the overall print, back at 4%, the most since march 2021. the fed will halt and stand steady for the month of june. nasdaq up 0.5%. but inflationary pressure is being felt elsewhere. we think about the u.k.. yields spiking and i want to show what asset is trading. the pound versus the u.s. dollar higher. all eyes are on a 6% level when you are thinking of central bank policy. interesting moves coming from

china. they are going the opposite direction. instead of curtailing inflation they are cutting rates. we were surprised overnight. up over 3% in oil. moving onto one of the favorite risk assets let's look at crypto. not dramatic moves but pressure remaining on bitcoin. this is with the weaker dollar. clearly, this regulatory anxiety still pressuring the main crypto asset. ed: when it comes to individual movers that cpi print and the idea around the fed is having impact. but there is one name, tesla, up for a 13th consecutive session. the longest streak on record. the news events of the last 24 hours was those charging names coming out all at once saying, we are going to adopt the standard. pivoting to momentum in that

space. stories we are going to cover throughout the show, you mentioned oracle and salesforce. oracle moving to the upside. ai driving cloud mendham. we will get into those numbers. interesting ai story with salesforce. moving to the downside 1.5%. they kind of explained in real terms how they are working ai and how it will better their existing suite of products. there was a referendum with investors. we are about to go to florida and talk about trump. rumble, the right-leaning social platform, down 4.5% with the president in focus. caroline: former president donald trump is in focus. let's go there for an update. we are expecting his appearance today after being indicted on 37 counts of mishandling classified

documents. kailey leinz is outside the courthouse. when are we anticipating an arrival? kailey: 3:00 p.m. eastern is when he is due to report. we may not actually see him arrive. it is expected he will enter the courthouse via the underground garage. but once inside he will be arrested and processed like anyone else indicted on federal criminal charges. it is potential he could have his fingerprint and mugshot taken. he may need to surrender his passport. he will then go to the 13th floor, appear before the judge, and is expected to plead not guilty. since this came down the president has maintained he is innocent and said this is a witch hunt. that is the kind of messaging he is likely to take with him from miami back up to new jersey this evening where he will speak at his golf club at 8:00 p.m. eastern, and holding a donor event.

his campaign expects he could raise $2 million tonight, hours after he will be the first former president in history to be arraigned on federal criminal charges. ed: local police, one of which walked past you, preparing for some demonstration. what is the scene like on the ground where you are? kailey: the police chief ahead of today has said from 5000 two as many as 50,000 demonstrators could be here. there is heavy security presence. there is a lot of police. the are perimeters all around and there have been several dozen pro-trump and anti-trump demonstrators. people wearing maga gear. a couple have t-shirts on to indicate trump won the election but there are also anti-trump people holding up signs like, "lock him up."

president trump called for supporters to peacefully protest. it does not seem there is too much disruptive activity at this point. ed: kailey leinz will be bringing us the latest throughout the day from miami. but gave us the latest on bloomberg technology. elsewhere in the world, headline cpi numbers, inflation easing to the lowest levels since march 2021. let's get to the view from the founder of mikmak, a global e-commerce and analytics platform for multichannel brands. joining us as rachel tipograph, mikmak founder and ceo. at the street level, or online, what does that inflation print tell you about the direction of travel right now? rachel: with the results just coming out it is interesting to think about why we are saying inflation might be going down. if we look at food and consumer goods categories, like appliances, those have been

relatively flat. but when we remove that from the equation, inflation is still going up. the reason we are seeing food and appliances stay relatively flat is for the last few quarters brand manufacturers have been raising prices. the reason they have been raising prices is that it is more expensive than ever before to bring consumer goods to market. to keep them on the shelf and market them to consumers. to offset margins they have been raising prices. which is why at mikmak we think core inflation is more indicative of what is happening in the general economy. when we look at that inflation going up against e-commerce conversion rates, what we are seeing is that year-over-year e-commerce conversion rates have been declining since 2020. to put it into context, in 2021 the average conversion rate at mikmak was 7.4%. we are now halfway through 2023

and the average e-commerce conversion rate is 4.8%. it is showing that consumers are more trepidations to buying. caroline: what does that mean in terms of companies and marketing? an interesting headline, netflix is going to open a pop-up restaurant in l.a. that is a marketing focus. it is itself a company taking in advertising dollars from other companies. how willing and able are companies to experiment if the conversion rates are low? rachel: big brands understand what it takes to stand the test of time. you have to advertise during trying times. look at procter & gamble. they have proven that over 100 years. that being said, every dollar is being scrutinized by folks that hold the title like cfo. they are holding the marketing

teams accountable to driving business results which has created a perfect tailwind for the rise of retail media. meaning meta's biggest competitor is not just snap or tiktok, it is also amazon, target, walmart. what the retailers have at their advantage is consumer purchase data and their ability to monetize that data and say, hey, we know who needs to replenish diapers. if you have one dollar to spend to market dollars, you should give it to us over the platform that does not know that. from a marketing standpoint we see brands spend but they are spending and more strategic channels that have more visibility into the end sales data, so they can understand marketing effectiveness. ed: we are showing on the screen the difference in direction between goods and services. you learn in recessionary and inflationary environment that who is leading who?

there is a response to the consumer and their change of behavior. but there is also the reaction to the retailers themselves. based on what you see in the market who moves more quickly? the consumer to change habits? or the online retailer to respond to them? rachel: yeah. it is give and take. right now what we are seeing in terms of how consumers are spending is they are spending on essentials. at mikmak, we have over 3000 retailers and we collect basket level sales data. we can tell you right now what america is buying -- bottled water, granola bars, teeth whitening kits, press on nails, weed killers. that shows you that these are essential items, but when it comes to things like b eauty, you could go to the salon or buy press on nails at walmart. we are seeing consumers be more

choosy with the things they are willing to do on their own versus go to a more service oriented place. caroline: if i get served one more press on nail kit, instagram marketing, i will explode. rachel: do not blame us. caroline: thank you so much for spending time with us. mikmak founder and ceo, really interesting. weed killer. sexy. we are sitting down for an exclusive conversation with the ceo of databricks as they acquire rubicon. watching shares of apple. the stock is been downgraded to neutral by ubs. analysts citing softer demand outlook for the iphone and services growth. this downgrade is pushing bullish analysts to a two-year low. record high yesterday. this is bloomberg. ♪

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drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. ed: databricks is announcing it acquired rubicon, a stealth infrastructure started focusing on storage systems for ai. it is used by more than 9000 organizations worldwide who rely on the company's-like house platform to unify analytics and ai. the start up key milestones for revenue and topline growth. joining us is ceo ali ghodsi. i'm learning a lot about databricks this morning. let's start with the top line. you closed out a financial year at the end of jan.

hit $1 billion of revenue, which is a milestone, but the growth is interesting. that makes you one of the fastest growing software names out there. what is driving it? ali: it is tailwinds. it is the fastest growing software, according to our records. but what is driving it is we are seeing tailwinds around ai. everyone wants ai and we have been saying it for 10 years, data and ai will be the future. the winners are ai and data companies. but something happened november of last year and everyone realized this is the future. the second thing is reduction. people want to cut down costs of data spend and the lake house platform helps. ed: data warehousing, sql the product. you are also sharing financials on that particular product. i remember when you announced it. it is a domain you compete with, snowflake. what is driving this growth? is this a market share gain?

ali: we announced we now passed 100 million on the data warehousing product that we launched a year ago. what is going on is that this lakehouse paradigm helps organizations cut down costs significantly. and there is the tale of two cities. on the one hand, everybody wants ai. on the other hand, everybody wants to reduce their costs and reduce the spend. it is really that cost tco optimization driving the tailwind. ed: caroline, from organic growth to inorganic growth. we have been out shopping. caroline: i'm interested. rubicon. this is about storage systems. you say it is the backbone of ai. did you have to pay up? this is not a cheap time to buy a company related to ai. ali: right now, you have to pay up. that is simple. everyone that is doing anything with ai -- and this was a team that can build storage for all

kinds of unstructured data. this is the oil that fuels ai. those are not cheap. this is the team that actually has built it previously at dropbox and google. this is the team that knows how to build this data system for ai. sergei and the team are really experienced. we are excited to have them. caroline: you for the last decade have told people the future is data, ai. your own experience, two decades in this field and with deep roots. they are an open-source software. i'm interested in your take on, theoretically, everyone debates whether openai, microsoft, google, are going to eat the entire lunch when it comes to application. or whether open-source is showing there are not any modes. where do you stand on this divide? ali: i would say on the one

hand, we want open-source to flourish because as ai becomes more powerful, we want the researchers around the world to understand this technology. we do not just what one or two companies to sit on top of this and know if it is going wrong or right. we want researchers, the whole world, to understand the models, what can go wrong, how do we align them with us. the second thing is i think it is impossible for one or two companies to keep up with the competition. every university and researcher in the data and tech field is focused on generative ai. we have never seen anything like it. it is going to be hard for one company to keep the proprietary model that is ahead of everybody else and open-source. we have seen this. every day we have new results in open-source. i follow closely. it is no longer months or weeks, it is every day. multiple times a day there is a breakthrough result. i think it is going to be hard for proprietary companies to stay ahead. ed: what is the ali ghodsi view

on when and why databricks would go public? i want to caveat this report that you trimmed the valuation on the company. did not slash, but trimmed. what would push you to do that? ali: i have always said ipo is something we will do in the future. for us, we think we are going to be a sustainable business in the long run. this is just a milestone. the markets are shut down. we are not over optimizing for this ipo event. we will get there when the time is right. there is just so much demand for our business. frankly, we want to invest in ai. we want to do the investments we are allowed to do as private companies. it would be hard to do that as a public company. it is helping us to stay private. caroline: databricks ceo ali ghodsi, thank you for bringing us the updates. stay well. coming up, let's talk about the

chip designer arm. it is looking at ipo and looking for investors to fund that ipo. intel could be one of them to be a key investor. more on that company and the building momentum after the break. plus, a quick look not only at intel but oracle shares. the company is saying their cloud computing business is rapidly rising in terms of growth. particularly in the coming fiscal year. this has helped extend shares to a new record high. they were up 6% ahead of the numbers yesterday. this is bloomberg. ♪

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tsmc also regaining the $500 billion market cap as investors buy into ai and sift through which stocks are best. it touted its role within ai but expressed concern of the outlook for the smartphone market, in particular a significant chunk of its revenue. arm is in talks with investors, including intel, to be an anchor in the new york listing. sources are saying the company has held talks with other firms about funding the ipo. arm is expected to be one of the most active get ipo's of the year. ed: let's chip away at the story. [laughter] katie roof joining us from los angeles. you and i have been across many ipo's and anchor investors give

you confidence. appearing in your industry, that's interesting. katie: exactly. investors like this softbank stock. a lot of times you will see an anchor investor of $100 million to $200 million to shore up confidence. from a competitor and partner that shows they are serious and excited about arm's technology. caroline: they have a technical relationship. the fact it would become a financial one. remind us of in the past when this happened. qualcomm was underpinned in previous listings as well. katie: it happened with qualcomm and mobileye. there have been others in the past. mobileye was spun out from intel last year. not just in this category but in general. it is something you sometimes see with ipo's ahead of the roadshow, ahead of drumming up

interest from institutional investors to have the strategic anchor investor to shore up confidence. ed: you are the name on the deal's newsletter publishing this morning. a big focus on all the talk in l.a. and l.a. tech week. caroline and i look at each of these tech weeks in new york, san francisco, l.a., sometimes a lot comes out of it and sometimes very little. what did you learn on the ground? katie: i had fun. [laughter] what did i learn? i chatted with mantis, the chain smokers, the band. they have a venture fund and they threw events. it would not be l.a. tech week without participation from hollywood. i spoke to will-i-am who should be will-ai-am. he has had multiple ai startups.

he has a new one and spoke to me about why he is excited about ai, but also how he thinks it could provide an opportunity for there to be a reset for new jobs. he is going back to his home community to help prepare them for the changing job market. a lot of different events. sometimes at hollywood mansions and sometimes featuring pizza robots. but it was exciting to catch up with the tech industry. caroline: i'm not sure there is any tech world that has not spoken to will-i-am. i have interviewed him at viva tech, or something. london tech week is on at the moment. maybe is over there. katie roof, thank you for telling us about the l.a. parties and the deals being done. go check out her deals

discussion in the latest newsletter on the terminal. coming up, oracle surging to a record high on the promise of cloud growth in the fiscal year. how cloud is the key business. this is bloomberg. ♪ the first time your sales reached 100k with godaddy was also the first time your profits left you speechless. at the counter or on the go, save 20% with the lowest transaction fees and keep more of what you make. start saving today at godaddy.com

caroline: welcome back to "bloomberg technology." i'm caroline hyde. ed: and i'm ed ludlow. let's check in on the markets. stocks pushing higher, including technology, driven by the inflation print. the idea being that the chances of a hike in 24 hours increasingly lower. that is not to say the market thinks the fed is done, but we are a little more certain about a june meeting pause. or however you want to phrase it. s&p 500 up 0.7%. the nasdaq 100 slightly underperforming that but basically in line. the u.s. 10-year up by five

basis points. we talked about our favorite risk asset. bitcoin started to move lower, down 0.3%, in the session. two mover stories this tuesday morning. oracle and salesforce. oracle the earnings story where cloud momentum is driven by compute demand for ai. $2 billion fueled by llm computing. salesforce demonstrating its competence in generative ai. how the work they are doing is going to boost their existing offerings in the world of crm. but we also have this soft referendum on his popularity. caroline: it is worth reminding ourselves how far these stocks of rallied.

oracle is up over 50%. salesforce giving away a little today but up 60% on the year. let's dive deeper into the share price momentum and cloud momentum. anaurag is with us. oracle's cloud infrastructure is a key highlight for you and jeffries. >> the acceleration in infrastructure was surprising to us. the whole world the slowing down in terms of consumption and here is oracle improving growth rates. this is going to get work done in explaining to the market they are not losing market share and everybody is going to benefit from the ai boom and the cloud.

oracle is very good at marketing itself. i think they did a phenomenal job the last few orders. we can see the results of that. ed: speaking of marketing one's self, where does salesforce sit in the ai wars? anurag: one of the things we have talked about is when you look at generative ai, consumer applications are going to be the first to embrace this. we have seen that already with chatgpt. you are going to get more of that in the coming months. a large portion of that is because the data, consumer data, is easier to get than enterprise data. when you look at a company like salesforce the number one concern for operations is are they going to use my data to come up with some new algorithm and start diverging data sources? i think what salesforce did

yesterday was smart. they explained to people that your personal data will remain private. we are not going to use it. if we are going to use it, it is only for you. i think it is a good step in explaining to people what it means. i think salesforce is the beneficiary in the long run because both of the cloud products, both are three times bigger than the nearest rival. i think they are sitting on top of a lot of data and they are going to benefit from that. ed: hour thanks to anurag rana, reacting to what has been a busy 24 hours. let's get more perspective on ai and cloud software from manny medina, ceo at outreach. outreach is a salesforce partner and ai driven used by thousands to increase sales productivity. it is a great place to start. the question caroline and i constantly pose is how is

generative ai not just changing sales functions, but does it eliminate some as well? manny: let's step back. we are in the early innings of what generative ai and general ai can do. the winners of this race are going to be called out the next two years. what is important is if you go to the future and you imagine, what is the nonnegotiable? if you think what is going to happen in the future that we need to do today? there is no manager that does not have an ai dedicated to their work. that is not helping them close deals faster, help them prioritize data, not helping them figure out what accounts to pursue or not to pursue, who to follow up with, and get the aggregate of those reports and making sure the theme is moving forward. in that future, if you work it back to today, the things that

are important is how do you lay out the data? how do you make your partner in the enterprise trustworthy, which is what salesforce did today. how do you make sure you are accumulating and processing data that you consistently help the workflow to make it more successful? people will get greedy. with higher efficiency they can actually drive higher results. they will continue to hire reps that use gen ai. is very exciting time right now. caroline: exciting as long as you happy to be augmented and ensure you are upping your skill set to work alongside ai. what you hear out of salesforce that is not being said by everybody else that is trying to help you with your crm, with marketing, when it comes to ai? manny: i think what we are seeing right now is an even

playing field. you are seeing dynamics and microsoft coming out with announcements. oracle coming out with announcements. salesforce coming out with announcements. three weeks ago how ai and what that was going to mean -- caroline: that is overwhelming. as the journalist speaking to all these companies, it feels as though there are too many announcements. everybody trying to make themselves out to be some ai efficient company. how can you discern which one is doing the right things and when? manny: there is no way to go wrong right now. the players are going to win. they set out the ai strategy 10 years ago. if you read the salesforce announcement, they have been working on a number of things for a while. this is just a culmination and another turn of the wheel of getting the ai onto the market. now with the help of generative ai. generative ai is another flavor

of a bunch of ai built over the last 10 years. the same with outreach. we have been looking at what is the manager doing? what is the outcome and fitting that into models. generative ai is another gear into that wheel. everyone is going to have enhancements to the user experience on their platforms. that is good news for everybody. ed: to the enterprises you work with, did they have the technical expertise and the personnel necessary to understand what is happening and implement it on their end? manny: that is exactly the right question to ask. the main funnel through which ai is going to have to go through, the mechanism by which ai gets useful, is through the human being, the worker, the project, and the workflow. we need to spend more time thinking about how does that ai impact the rep, customer success

manager, the support person, and managers? make sure that we are fitting the ai to the benefit of the human being. only then do you get the compounding effect of ai plus human delivers drastic results. we need to spend more time allocating our team members and recipients into the new workflows and the possibilities ai brings to the table. without it you are not going to get the option. that is the part we are going to talk about. what are you doing to drive adoption of ai? technology delivery is easy. it is customer adoption that is the hard part. ed: hour thanks to manny medina, who is reacting to salesforce setting out what they are doing in the field of ai. coming up, the state of the venture industry and what will be the next big thing enabled by ai. more on that with forerunner's brian o'malley. that is next. this is bloomberg.

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ed: time for the vc roundup. inside partners has cut the target side of the latest to $15 billion from the earlier target of $20 billion as it sees a great reset in tech. that is according to the financial times, citing a letter to institutional investors. the firm has raised about $2 billion for its 13th fund. technology crossover ventures or tcv has raised 15% capital.

that is according to the information citing securities filings and a document compiled by one of tcv's partners. tcv has raised $1.4 billion for its flagship. cubic pv has secured over $100 million in equity commitments for factory plans. all committed capital with the first $33 million to be released immediately. caroline: let's stick with the world of vc. welcoming to the show brian o'malley. $2 billion in assets under management and you stake your claim in the key companies that are consumer focused. at the moment, you seem to be looking a lot of the platforms that empower gig economy work. i'm interested to how your time

is helping her portfolio companies make sure they are empowered with ai and not eating their lunch elsewhere. brian: i think ai is on everyone's mind. it is something i have been hearing you talk about all morning and something we are talking about in our offices all day long. we did a survey recently of our portfolio to understand where they are exploring. it is not surprising 80% to 90% are already leveraging ai in some fashion. the rest are thinking about it in terms of marketing, product, and thinking about internal processes and how they can automate those as well. ed: for your portfolio companies and the founders you invest in, what is the single biggest factor that would push them to invest in ai? why do they need it? brian: everyone is trying to be more efficient and provide more value to their end customers. we are finding ways that if they can put their people first and enable the back end processes to be leveraged through ai, that enables them to have more human elements even though they are

taking advantage of these technologies. ed: i think he poses the question going back to consumer. i was getting ready for the segment and looking forward to not talking about ai. [laughter] we have ruined that. but for vc's the consumer segment is risky. you are against giant global conglomerates that are also innovating. why you want to focus in more consumer facing startups? brian: we believe that when you focus on something, you could be the best in the world at it. that is what we are trying to do in understanding what consumers want. we spend our time really listening. we do a fair amount of focus groups and surveys to understand what is top of mind for people. even though there is all this innovation people are left wanting more. they got challenges in their personal lives. they're looking for community and connection and thinking about how they can get better purpose, better self-reliance. we think as much as there is dollars going into the ecosystem

there is a lot of needs still being unmet. we believe the founders we work with can solve those needs. ed: we have had vc's an founders on the show that are making something for the consumer and valuing that offering is ready hard. caroline: brian, i am having conversations with vc's who primarily backed consumer focused companies. they are not touching them with a barge pole in terms of new checks to be written. how much is the valuations the companies you currently have having to write at the moment? brian: there is a combination of portfolios as there always is. the ratio may change but our best companies are finding dollars available to them. they are still raising capital and they are able to do what they need to do. the companies that are struggling continue to struggle and a lot of that comes down to whether the timing is right for what they are offering. we look at a time when other consumer investors are left scratching their head because

they found themselves chasing these shiny objects. we find when we are grounded, talking to people, talking about what their needs are, and looking at how that is juxtaposed against new business models and technologies, we find there are more opportunities to invest. it is about finding the right ones with the right fit based on our ambition what they're trying to do. caroline: talk about the fit. there was a lot of concern that as that sucking noise started happening with all the money coming out of the situation it would leave diverse founders most hard-hit. but what i'm hearing is the diverse founders are used to be scrappy. they are better at weathering these downturns because they know how to have a numeral business. are you seeing that? how much are you able to continue to support founders that would not have had checks previously? brian: absolutely. we are looking for founders today to be scrappy or than they have been before, but scarcity is an important trait.

when you have too many things going on it enables you to lose your focus. when there is less resources, less people on the team, it is easier to pick what is the one priority we need to accomplish now? we are helping them pick that priority and execute against it. ed: what is your exit strategy when you are in the space? brian: our exit strategy is simple. we try to build great businessee opportunities come toward them. that window might be changing. it might be harder to sell a company, harder to get public, but if you are building a durable, sustainable business where the customers love what you are doing, time is your friend versus your enemy. that is what we are trying to help our companies do. ed: forerunner managing partner brian o'malley, thank you very much. federal prosecutors in the theranos case are asking elizabeth holmes to pay $250 every month and restitution once released from prison. but lawyers for the former ceo say she has, "limited financial

resources and should not have to make the monthly payment." holmes said she cannot pay the figure demanded, $452 million. caroline: we will keep you abreast of that moving story. another one you must have seen, former twitter ceo jack dorsey getting called out by india, the nation, about twitter and its former actions there. more on that, next. this is bloomberg. ♪

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ed: twitter's former ceo jack dorsey says authorities threat the platform during the former protests unless twitter removes certain politically sensitive post. now india's minister of state for i.t. fired back saying, "that is a lie." sarah frier joins us on set with more. let's start with the retort. what is it india is saying twitter, or jack dorsey specifically, is lying about? sarah: they said they never shut twitter down and never went to jail. dorsey was saying there were threats that the company would be shut down and employees would

be threatened. what you are seeing -- this is a microcosm of what is happening with twitter across the world. governments are realizing they can ask for the company to do certain things, take down posts from people criticizing the government, and say they are in violation of law. if they do not comply, they could lose their market power in that country. that is something that i think is going to be even more difficult under the new ceo and new owner of twitter, elon musk. we are talking about this happening in 2021. now twitter has so many fewer of those global legal policy employees that we understand local governments and large governments, like india, and how to navigate those different political stumbling blocks.

caroline: i am thinking of linda yaccarino's recent thread. she wants to make twitter the open place for discussion. ultimately, certain countries are going to find that difficult. we know india does tend to fight back against social media. they banned tiktok, one of the only countries to do that. how do you think you can navigate that? ed: i am going to jump in because i think sarah lost you. but the question is, what do we know about how twitter is now handling its global relationships with regulators in different jurisdictions? sarah: we know a lot of the executives who were in charge of trust and safety at twitter, who were in charge of ensuring the site is taking down hate speech and misinformation and violent content, that they are losing a lot of those top executives who were in charge. i think that makes it very difficult.

when you are working with governments, negotiating with governments they say, this is against the law. twitter used to fight those cases. the used to fight turkiye and egypt and say, no, we are not when to give you information on those people. what is going to be interesting is to see how twitter's changes and fights adjust given their owner also has other business interests in the countries where twitter is operating. with tesla, space x, star link, it could become wicked. ed: sarah frier, thank you. caroline? caroline: notable that times square that linda yaccarino talking about, manchester united. it is the end of this edition of "bloomberg technology." ed: busy week so far. you can recap with the podcast wherever you get your podcasts.

and on all of the core bloomberg platforms. from new york and san francisco, this is "bloomberg technology." ♪ and this is ready to go online. any questions? -yeah, i got one. how about the best network imaginable? let's invent that. that's what we do here. quick survey. who wants the internet to work, pretty much everywhere. and it needs to smooth, like super, super, super, super smooth.

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katie: welcome to bloomberg crypto, it is a look at the people, transactions and technology shaping the world of decentralized finance. the crypto verse has seen what seems like a lifetime of ups and downs already this year. we will discuss with fred thiel. matt: we will talk about the fallout from the sec crackdown of one of the biggest advocates of cot