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tv   Bloomberg Technology  Bloomberg  November 15, 2023 12:00pm-1:00pm EST

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some were hoping followingfoll't to taiwan last summer. for xi jinping, he is dealing domestically with an economy >> from the heart aware power, that has not bounced back as some were hoping following the money, and innovation pandemic, a property market that is dismal at the moment and a collide, this is bloomberg very high youth unemployment rate. technology. this summer is a 20%. that is the last time we saw the data. for xi jinping, this is opening up some more goodwill on the economic front not just for president biden but this evening when he meets with the chief ed: bloomberg from new york. executive officers. ed: we have heard from sources that they who is who of tech ed: this is bloomberg execs are trying to get into that dinner, the aim is to with technology. caroline: microsoft unveils its all relationships particularly on the economic side, but the first custom-designed ai and battleground here is that the cloud chips. u.s. had the technology export curves on china and the context we discuss with the move means for the company and its competitors. ed: spacex spinning off its star of ai and chips, will that be a factor here? >> this is something xi jinping link unit as soon as late 2024, we bring you the details as elon what love to get rid of, but we musk denies the reporting. already heard from the treasury caroline: we break down what to secretary janet yellen and
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expect from the meeting between president biden himself and biden was saying how the u.s. president biden and xi jinping in san francisco as well as what interests if an average chinese it means for the tech city's citizen is able to go out and future. have a working wage and make a let us check in on the markets, decent living, biden it is calming down and a rampant is clear, he will not move rally we have seen in the world of stocks. holding onto gains on the economically if it impedes u.s. national security interests. nasdaq. a notable gain over in china, those export controls and penalties, they are not going whether or not we are seeing the fuel from the u.s. into china by anywhere anytime soon. ed: she will be on the ground at the economic data coming in strong when it comes to retail apec all week. and the consumer. notably around the companies let us bring in a central fellow that have been reporting earnings, we see tencent, in at the freeman's terms of earnings, then we see what is happening with alibaba, institute and a member of green on the screen in china. 10-year yield rising up a lot today after we have seen three upstart. year yield come crashing down as welcome to the program, you many anticipated the federal heard ann set out the discussion reserve has done with its points between biden and xi hiking cycle. jinping. bitcoin, yesterday, having been one of the most significant relatively calmer, up 2.2. points of discussion between those two leaders? >> both sides are saying that
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what do you have on the micro? the viper they are meeting to discuss anything is the biggest ed: the story that has broken his microsoft unveiling its take away. we are facing a bunch of issues first custom silicon, two chips right now, security, economic, in fact, maia is the ai the two most powerful countries in the world, the need to be accelerator and you have a able to collaborate and talk cobalt which sees microsoft move about these issues together. into more generic server if we do not have routine and designed chips. sustained when visits between it is interesting how it is the two leaders, this becomes impacted. increasingly difficult. it is hard to sustain anything excellent has moved up, within that they might even agree to at this visit. the last 30 minutes or so declines on nvidia have really, what i am looking for is accelerated. not only the types of topics it look a bit closer nvidia in a they will discuss and what is on the agenda. second. -- we looked a bit closer and but whether or not they actually nvidia and a second. have any sort of frank exchange. looking at the specs, not the >> limited to dig into the same as the it is more general perfect point --caroline: i want use is interesting to see the to dig into the points, they market play out. the fact nvidia is down in this built off of this and ways, it session, i am sorry to say, the record for nvidia is over. is strategic exploitation and if we close in the red, nvidia snaps 10 straight gains -- days intrapreneur ship, from the tech
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perspective, with all of this tit-for-tat we see, would that of gains, it would have been a your be your policy new record for nvidia. recommendation? >> i think the prediction would be that china will be entrepreneurial in its h100 is still the only game in approach to the tech town with millions of competition. when i talk to investors they parameters, what does microsoft mean for more general ai? often expressed frustration with the economic decisions that let us bring in a managing china makes at home. director and software equity as i lay out in the book, party control is one of the main detail analyst. factors that decides which he has an outperform rating on shares of microsoft. strategy they are trying to pursue. they cannot emulate what the you heard my explanation and my united states is doing because reaction to both maia and it does not -- it is not cobalt. conducive for their system. what are yours? >> thank you for having me, i am they have to go another route. sometimes it is ineffective like here in new york for a soft power and perhaps this conference, agent of ai is front becoming a reserve currency and center. without loosening capital one of the themes we here it is controls. that will be difficult for china. i have no doubt that as they face new challenges, they will prohibitively expensive to
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try to think of new ways to degenerative ai, the training, exploit their own competitive and rinsing, connecting all of these different systems. advantages, gaps in the system for example and standards and other areas that are important for technology to try to get they can help themselves and other companies overcome this ahead. big cpu shortage out there, they ed: corporate america according specs are not quite the same as to our reporting is doing theh100. everything it can to get into you do not only need h100 to do that room and have dinner with president xi jinping. you heard a sound bite earlier in the program about the export your training or doing some tooling on top of cores or law curves and place. can he have any leverage or use too. of the interest of technology this creates i think more accessibility for large leg ceos and meeting him to go to which models are software biden and say look, everyone wants to do business here? companies are industry companies to embrace generative ai, >> i am doubtful that would without seeing the huge cost work. honestly speaking, not only for drag. i'm excited to see this, this the u.s. perspective but also was expected for a long time. from the chinese perspective, with xi jinping, power is more important than prosperity. there are many decisions we have seen him make that if economic ed: i ministered as to what this prosperity was a number one priority he would have done does mean for competitors? something completely different. caroline: alphabet and google the covid zero policy is a
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perfect example of that. have already been doing this, the same for the united states. who does it impact? it feels like intel is the one national security trumps all to be watching. things. the chinese military has been >> it impacts everyone. modernizing at a pace and speed and a level that it presents a we will have to see how they specs between these chips are threat to the united states. compared. we can no longer turn a blind eye to certain technologies that microsoft has already has this can be will use. old position as being the leader perhaps those leaders will get when it comes to enterprise, into the room and have a very pleasant meeting with xi generative ai. jinping. i think this only bolsters that. i do not think he will change his approach to technology the company is thinking go to microsoft and they may not go to control at home. that is important for his own control over the country. microsoft, but they can stay with microsoft because they have it will not convince the united the capacity given their ability to develop in the same house. states to put itself at risk for the thick of economic prosperity. this is positive for microsoft. caroline: we have seen such a probably, it will be, there are change in supply chains whether it is focused covid, whether or not it is the geopolitics at direct applications for until and amd within the chip space. play, the corporate to speak to, overall, i think this is going to be positive for microsoft. is that the narrative going forward? ed: it is so interesting to see we will see more of a bifurcation? >> i hope it does not get to where these names are trading,
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intel is up 2%. that level of a complete bifurcation in two different blocks. i was in china two weeks ago. this battleground seems like the lower end of the accelerator they have the often report that market. i am looking at microsoft, that the united states is trying to is why we here it is down .2%. contain them. it is a muted reaction. u.s. policy and limited export is no way a containment of china. i hope we do not move in that does that signal that this is not the game changer for microsoft's cloud business? direction because our economies are quite interdependent. what we are seeing is a lot of why is there more and more leaders understand that significant reaction in the stock here -- not more de-risking is important whether it is supply chains for united significant reaction in the stock here? >> the jury is still out, the states as they could continue to fight wars if we have two or specs are not up to the top of the line from nvidia. four leaders who may have given microsoft's pace of manufacturing hubs within china. it is important to have a plan b. innovation, investors were this is not the cold war, the expecting something like that. united states and china have i think microsoft will get some conflicting interests and there. they have the ability to innovate and move very quickly. it is possible that the two sides find themselves at blows. that may explain why there is a caroline: fascinating. muted reaction. some of the product we have seen so far out of ignite may not be stanford university and much more, coming up, let us talk about private markets. as exciting as people were hoping to see. in my view there is a lot of spacex, spinning off its
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exciting stuff that we are already seeing. starlike unit to a public company as soon as 2024? on top of the keynote i'm about guess who is behind that reporting? to kick off, we will see a lot more. it will speak about it in a i would not be surprised as the moment -- we will speak about it day goes on microsoft stock in a moment. moves up. this is bloomberg technology. ♪ announcements that excite people, get stats on the adoption, i like that they have rebranded being enterprise chat as microsoft copilot. that makes it a more digestible kind of straightforward diet proposition. this opens up a lot of innovation for microsoft. caroline: as we anticipate what will be set on stage it is interesting that it looks like it is the price that is becoming front and center now. we have that with openai developers day as well and it all seems to be a race to offer more. accessibility, gpt, chad says we are seeing -- chats, we are seeing more assistance. prices for office 365, for the office software, and the sales
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copilot. will that be a rush down in the sales? >> i do not think so. i would argue going to openai, $20 a month is actually too cheap for what your getting out of chatgpt four assuming you are a power user. for microsoft copilot, the name of the game here is not about lowering the price, it is by adding new features and new capabilities. enterprise chat is now markets of copilot is part of the $30 per user per month in the product released this month. the conductivity of the copilot to systems of record like service now and workday. to me, as long as microsoft continues to grow what is included in that $30 per user per month, i think people are going to be able to justify that price. look no further than copilot. copilot has been the most mature
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generative ai product. it has been a slamdunk and terms of developed productivity. -- in terms of developed productivity. it will innovate, maybe for an excel junkie, it will get excel copilot that makes my life of ed: spacex is discussing an ipo doing data analysis a lot easier over the next year. the name of the game is innovation and adding more for its store satellite business, as soon as the end of next year. on robust demand, elon musk features, not lowering prices. ed: the openai is going to be responded immediately after he published the story in a testing the azure 100. response saying it is false. openai relies on microsoft not that is all he said without just for cash but compute elaborating. credits. they also rely on nvidia and the it is spring in rheingold, one badge of honor of that is of the reporters that reported this story with me. complicated, it will see in the let us go over the mechanics of what we know. >> are to share a bond with you end who will win the computing more. caroline: a lot of friends and dealmaking. on bloomberg -- great to share a we heard earlier this week bond with you on bloomberg technology.
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some are banking on microsoft spacex is still discussing potential offerings for star injecting more money. we will let you get back to the link soon as the end of next conference. enjoy all of the conversations year. it has started to move to around generative ai. satellite companies into its own we thank you from the capital markets. when we turn to a peck, all the subsidiary i will be spun off way san francisco, president xi jinping and president biden have into an ipo, you mentioned that musk said this morning that this apparently met face to face. reporting was false but we would details ahead. ed: we are looking at the u.s. say that a course no final decisions have been made and shares of tencent with earnings, that spacex could also attain the unit but this is something i was earnings overnight, really that i think musk has spoken positive, the adrs soaring -- about over some time, hinted at looking at earnings overnight, this at various occasions, he really positive, adrs soaring. they are talking about the has said that in 2021, as far stockpile of nvidia's china back as .21, struggling chairs specific chips. this is bloomberg technology. ♪ can make predictions reasonably well about cash flow. he said that starling had reached cash flow breakeven. -- starling had reached cash flow breakeven. they put out the support yesterday and this morning --
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report yesterday and this morning. caroline: i'm interested, what this sort of is? we used to discuss more concerns, try not to get bankrupt in starlink. what fueled growth? ed: elon musk says it has reached cash flow breakeven, star link could bring in revenue next year, that would make it the vast majority of spacex 's revenue. it is working. it is widespread. it offers connectivity, satellite-based internet for people around the world i have not been able to get access to high speed internet and we know the rollout has been careful and slow because there is regulatory proponent. there is demand for this and the centerpiece of space x's future, the cash cow that will take us to mars. caroline: think about how slow
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competitors have been like amazon is still cautiously going through it with their project but not at the pace we have seen from space x. we want to thank you for all of your bylines, great reporting, we thank you. coming up, all eyes on where it is sitting, san francisco, apec on the way, creating debates about that city's future. we talked to natalie sandoval. this is bloomberg technology. ♪ introducing j.p. morgan personal advisors. hey david. connect with an advisor to create your personalized plan. let's find the right investments for your goals okay, great. j.p. morgan wealth management. the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner
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that always puts you first. (we did it) start today at godaddy.com caroline: china's president has touched down in san francisco for a peck where he is expected to sit down with the u.s. president joe biden today. you're probably not easily persuaded to switch mobile providers for your business. it was 3:00 p.m. local time we but what if we told you it's possible that saw the pictures of him exiting comcast business mobile can save you up to 75% a year the plane, a secretary yellen to on your wireless bill versus the big three carriers? help create as well as gavin newsom. there is a whole lot riding on have we piqued your interest? you can get two unlimited lines for just $30 each a month. this and a whole lot of protection as well going on? there are no term contracts or line activation fees. >> there is a lot of protection and you can bring your own device. i can tell you that, it took a oh, and all on the most reliable while to get to where i was standing right now. 5g mobile network nationwide. ed can attest to that as well. wireless that works for you. it's not just possible. this is a high-stakes meeting and it is happening outside of san francisco proper at an state a little bit more relaxed, 15 acres of gardens, reminiscent of when xi jinping came during the obama administration and they
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met in palm springs and really physically, they were rolling up their sleeves to get to work. for the biden administration we heard from president biden before he departed the white house to san francisco yesterday talking about the fact that he wants to get relationships to a normal correspondence. to pick up the phone during times of conflict to make sure you want to be able to provide your child that their militaries go back to normal communication, informal it's happening. with the tools or resources they need. with reliable internet at home, dialogue, the cadence of the dialogue we saw ripped apart through the internet essentials program, the world opened up. following nancy pelosi's visit fellas, fellas. to taiwan last summer. that's how my son was able to find for xi jinping, he is dealing the hidden genius project. we wanted to give y'all the necessary skills domestically with an economy to compete with the future. kevin's now part of this next generation that has not bounced back as of young people who feel they can thrive. ♪ ♪ ed: welcome back to bloomberg
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technology. caroline: let us get a quick check on the markets. we are managing to sustain some gains on the nasdaq and the
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nasdaq 100. we were up more than 2% on this benchmark yesterday. calling after the rampant growth, equity locks an area going on with the data once again today, retail sales are calling a little bit but that's cooling a little bit, but api numbers are showing pullback, inflationary anxiety dialing down. the golden dragon, the nasdaq golden dragon showing the buying of chinese related companies in the united states are up 3.5% after we have tencent, we look at alibaba, also of course there is still a hope that we could see some stimulus going into the chinese economy, a big day for u.s. and china from a geopolitical perspective. but coin up, going to the day, we want to highlight the individual idiosyncratic news coming from the number is doing well come up more than 7%, all eyes on alibaba. amazon down. microsoft now going in with its
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own chips making sure that its supply chain is under control when it comes to ai related chips. those in data centers, amazon has been doing that. google and many other cloud providers. down by 1.7%, that is about the retail data that showed a little bit of cooling. appetite and china not so much in the united states, we will be going into where these companies have been from, silicon valley, from a geopolitical perspective we talked about san francisco on the day as well? ed: there is a spotlight because of a pack but i will bring you another story that was in bloomberg businessweek, michael morris, the prominent business venture known for making early investments in google, linkedin, paypal, yahoo!, during the years he was a partner, he is focusing on investing his time and money in remaking san francisco. a city he things has lost its way. he has lived there for four decades and dedicated more than
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$30 million since 2022 help political and social causes, funding nonprofits and advocacy groups. caroline: also the remaking of the city, as we keep talking about generative ai, suddenly it becomes more of a cerebral value we talk about it, the scale of appetite for rental space, we have so much of this conversation throughout the show. let us talk about san francisco's future of revival. we go to natalie sandoval. working towards this exact goal, rejuvenation, maybe it is a pr effort or a reality effort people have not been coming back to san francisco proper in terms of the office space. 30% of office space is unleased. is that changing at all? >> thank you for inviting me, i
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think we brought together a group of national experts from around the country to talk about just the downtown revitalization. what can be the future for san francisco. what was interesting as we had all of these folks come in from around the country expecting this horrid environment and really they were surprised. they were like it is not that bad. with every crisis comes opportunity and i do think coming out of the recommendations from this panel there is a lot of opportunity for downtown san francisco. particularly thinking about how we can diversify the mix of uses to make it a great neighborhood. ed: good morning. you are over in oakland, i want to go back on what you just said, earlier this year, you conveyed this group of people and basically showed them san francisco? they were pleasantly surprised i understand on the health and state of the city? i started this week by speaking
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to the mayor and said look, everyone is asking how you are able to clear up the city in a week because the president is in town and the president of china is in town. to be very clear, you are finding well before apec is that san francisco is making improvement? >> absolutely, the narrative around san francisco and the loop is really a narrative that is not quite accurate. the city is actually hard at work at making changes for a while now. particularly our work has been focused on the financial district of downtown san francisco and that is where our panelists spent their time. it was really a general consensus that it felt pretty clean and safe. there was some activity on the street, it was not exactly like it was in the pre-pandemic days. there is still some work to be done, the gateways and the connectors to the financial district of downtown san francisco, i do think that the
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city has been hard at work making some changes well in advance of apec coming to town. it is like any city when they will have a global spotlight on them, they're going to go through some more extreme measures to clean up the city and i think that is only a good thing for san francisco. caroline: everyone loves to sit in one city and badmouth another. i am interested though, it was a few months ago i was in san francisco walking across the very street we just saw and i am afraid there were still so many signs of such sadness, people very much living on the street and a lot of what people called tent cities. how is there a long-term ultimate fix to that? how do we start to see some of the areas of focus really feel rejuvenated? not only on market street but more broadly when it comes to art and culture. what makes the city thrive? >> i think that when we are talking about downtown, the
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financial district in particular, it is a single use district, commercial office, and catering to people from the 9-to-5. need to think about diversifying this area. bringing in residential is one piece of that puzzle. conversion is not a silver bullet, all of these cannot be turned into housing, it will help not only with our housing crisis but to diversify the area in downtown. you cannot just feel a bunch of these office spaces with the housing unit and call it a day. caroline: i am a resident of --ed: i am a resident of san francisco and a lot of the loop discussion is not universally an experience everyone has when they live here. you made a point on diversify, the neighborhood you are talking about, salesforce, x, it is still largely tech or it is vacant. is ai changing that?
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>> i'm not an expert of what will happen with ai, i know there is a lot of hope for ai, san francisco has been the tech center of the world for a number of years, i do not think that will change. and i will be interested in coming to san francisco and i think other things and other types of businesses need to come to san francisco. the city is figuring out how to incentivize those other types of businesses to be interested as well. it is not only these big companies, we are talking about san francisco, locally made businesses to support the arts and culture as you said earlier, and bring them to downtown. ed: natalie sandoval, thank you so much. let us stick with the city, and other fixture of san francisco has been at robotaxis. it was the only city in the world who had two robotaxis operate in 24/7 and charge a fair to the public.
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some issues led to cruise's permit has been removed. it is of emails between them and the police department give us a window into the relationship between those two groups ranging from contentious to the collaborative. want to bring in judy love put it such a deep dive on these documents and emails. what have you found out? >> this was a fascinating limbs into the relationship between cruise and the police department at a pivotal time for the service. there are concerns, there were multiple times when the vehicle disrupted crime scenes, barely through caution tape, there were also an incident in which the first lady was visiting the city and the vehicles got confused by the motorcade and disrupted its path. some new windows into the palms on the road that we have been seeing for some time now with
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cruise. there are some signs that the police to have an interest in the data that cruise obtained good they wrote multiple times expressing an interest in obtaining its footage after the vehicles were spotted near crime scenes. crews appear to be upholding its promise of getting warrants but it underscores that this is a multifaceted relationship. caroline: the police have with alphabet's service and there are plenty of back-and-forths as of him celebrating relationships and other times more difficult and tense relationships. does this shine a light on any way in which we will see cruise back in san francisco? will it come back to the city? >> i think the emails show just how hard cruise work to maintain
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a good relationship with the police despite these troubles that arose. experts tell me that the relationship will be the key to cruise returning to san francisco. the police will not be the one who ultimately restored to its permit to operate in the state, but police really do help shape local's views of a company and if cruise can earn the trust of the police, that is a step towards earning the trust of everyday san franciscans. caroline: you are with the mayor , talking about how they have to work to regain trust. notable that there is an effort. ed: thank you so much. caroline: coming up, it will take a look at an aviation company, archer, we are looking at getting into the air and how the cfo is getting through the
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pre-revenue phase. coming up tonight, this is bloomberg technology. ♪ what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today.
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♪ ♪
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♪ be ready for any market with a liquid etf. get in and out with dia. caroline: time for talking tech,
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first up, openai has suppressed policy on accepting new users for its
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has said it will begin to allow limited operation of those vehicles as air taxis in the latest episode of bloomberg's chief future officer took a look at their air taxi called midnight and i chatted with archer's cfo, mark mesler, chief commercial officer nikhil goel and ceo and founder adam goldstein. have a listen to this. all right. this is it. this is inside midnight. welcome. the design in is four passenger
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seats, front row back row. and one pilot. how, after all this time did you arrive at that configuration for passengers as one pilot? our goal is to be the uber of the air. when i was at uber, we took all the data of optimal configuration to do one thing which is lower the cost per passenger for these trips. what's to understand the cost of the aircraft and the cost of the pilot, what the cost of the repair and maintenance of this is, every costs, all of that feeds into our economic model and it shows that pricing at ridesharing prices allows us to make an economic profit on it. ed: i got to fly midnight, not for real, virtually in the company's simulator, training pilots is another hurdle, the ev industry has to clear it.
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>> how much burden will you take in the training process? what does it look like for you guys? >> we are training our own pilots, this is our own technology, we are talking about unlocking scale, we could look at partners to help us do some of the training, pilot training will be a critical part of our own operations. >>'s simulator helps you get a sense for how easy the vehicles in fact, what we found is people with less flying experience are actually better at flying these planes because you do not have to unlearn as much. ed: does that include me? >> it does. you can take off, fly around the island of manhattan and lynn successfully. is your first time you have ever been in a simulator, that is pretty incredible. ed: i related it safely. you can catch the full episode
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tonight at 9:30 eastern time. caroline: coming up, artificial intelligence confirms our clustering into several san francisco neighborhoods for office space. how they start ups are leading the way to potentially be city's full revitalization. this is bloomberg technology. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh
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caroline: investment managers are releasing 13f filings as required, it gives us a taste of what these managers have been buying or selling. joining us is a news reporter covering these, giving us a roundup of where the big bets were placed. >> i would say one of the standouts is meta? . we have seen the across the board vibes, the hedge funds that are focusing on the tech stocks and guayaqui in the rotation in that space, we look at pine capital, this is a brand-new position in meta and it is actually the largest long holding firm. they bought 2.7 million shares at about $800 million valuation
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at the end of the last quarter. they took a pretty chunky sizable state. look at the other funds, title global, viking, they all increased their stake in meta. it is title global's biggest holding -- tiger global's biggest holding. ed: on the others i to the table you mentioned tiger global -- on the other side of the table you mentioned tiger global? >> this stake in the internet consumer company they bought a ton more of that stock up to 11 million shares a bit. it is a company that has struggled, the stock prices struggled over the last quarter. the company may have bought the dip on that believing in the projections of how the company may look. taking advantage of the share price. another interesting thing about tiger global is they got
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into jd.com before it went public and they have cut their mistake and their shares of it by about half, even more than half. that builds on them cutting the quarter before last. we do see a bit of a trend. reducing that stake. caroline: interesting. it has not performed well today. jd.com, will not be longer a little bit at the moment. being shorter on the day. what about those people? was jd.com a theme? >> we saw some rotations, look at viking, netflix, and alibaba, and 15 others. with viking they bought workday, amazon, and united parcel. those are the top three biggest holdings. you see rotations across the portfolio. sometimes you see aggregated buying. we have not seen a whole lot of selling in jd.com, each fund has
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its own specific way that they look at tech. ed: i am sorry to jump in! you get a sense of what do people like or not like on the long term basis and these are the guys deploying big sums of capital? thank you so much. coming back to san francisco, the commercial real state market is having a moment, it recovered from the pandemic, ai startups have been breathing new life into the city's market. what is the data tell us -- what does the data tell us? from the square footage perspective, something real is happening here? >> a high have added more than one million square feet of office space this year and real estate state agents, they are looking more and more office space, in the industry and sub
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industry, people feel a need to be in person, at least several days a week if not most of the days of the week. caroline: some of the names, anthropic taking over a headquarters, we have other key ai names building out secondary headquarters nsf even though if it is not their first. what about turnings based to be fit for them? we had a conversation with the mayor of san francisco about making more space for ai labs? >> a lot of these companies are not going downtown necessarily, not necessarily attached to being downtown, openai is in the mission district. a lot of companies have sprouted up near their office in the mission. there is a part of town that is getting termed area ai, the eastern part of the mission, that part of town is actually seeing a number of offices crop up. companies are clustering their.
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the openai effect, wanting to be close to the center of gravity of the industry. caroline: thank you so much. that does it for this edition of bloomberg technology. ed: go out and tell everybody about the podcast! wherever you get yours, this is bloomberg technology. ♪ it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david. connect with an advisor to create your personalized plan.
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let's find the right investments for your goals okay, great. j.p. morgan wealth management.
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matt: live from new york, i am matt miller. kailey: looking at what is shaping the world of decentralized finance. matt: blackrock fund on a delaware state website gives a brief boost to the
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cryptocurrency. kailey: we will speak to the ceo of the firm that will be providing the pricing for a lot of spot products if approved. matt: we catch up with the cofounder and ceo of digital asset custodian bitgo.

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