ed: adam, great to catch up.p, we are going to talk ai funding and defense tech with bilal zuberi. this is bloomberg technology. ♪ ed: ai startups are working with banks to raise a fresh round of financing. that is according to bloomberg sources. the company is being advised by j.p. morgan and goldman sachs. the openai competitor raised $270 million. let's stick with startups and get perspective, bringing in bilal zuberi. i'm happy to see you because since last we spoke, you seem to spend a lot of time on an airplane and visited a lot of countries. what have you been up to? bilal: it has been a busy time. i have been visiting her for the companies in europe and asia, several companies in europe, pakistan, jordan, and all over the u.s.. we have companies coast to coast. ed: is there anything magic divide on what you invest in in europe vis-a-vis what you invest in in america? bilal: we invest at the intersection of technology and sciences, solving heart problems -- heart problems -- hard problems. people like to b

caroline: -- ed: i'm ed ludlow in san francisco. caroline is off. it is these capital spending and production costs lower-than-expected. we will bring you all of the details. president biden imposes limits on u.s. investments in china. alibaba returns to growth across all of the main divisions, defying china's economic turbulence. we will take a deeper look at the supreme court ruling in the epic case siding with apple, at least for now. the other big story was inflation, gaining 0.2% last month. the slowest pace of gains for two years. the market starts thinking about the fed and then says maybe the fed will skip a rate hike in the next meeting. why do we care about the fed? higher rates discount the valuations for future cash flows for names on the nasdaq 100. the main text -- the main tech index outperforming but we are basically treading water. the other big risk as it is bitcoin. we are the same level we have out for two weeks. the u.s. 10 year yield climbing back up. remember the story we keep reiterating. yields have been coming slightly lowe

ed: thank you very much.e spent the last couple of weeks talking about the rebranding of twitter to x but what does the co-designer of the original twitter logo have to say about the change? >> i think what the letter form itself, it's a tough solve them to come up with because it's angular and sharp and it has an aggressive construction. i think the challenge they will have is how to define what x means and how to make it feel welcoming and approachable in its own way. it's an incredible opportunity to have a single letter domain. there are only a few of them in the world and they get the chance to say the final letter in the alphabet, the same way people think about the bird today. 10 years ago, there wasn't this emotional attachment to the bird we see as it starts to pull away and change to x. ed: coming up, take a look at zoom shares, we've been talking and asking if this is the end of the remote worker? the darling of the remote worker says come back to the office. though shares are down 1% and that's ne

as silicon valley and beyond, this is bloomberg technology with caroline hyde and ed logo -- ed ludlow. ♪ ed: caroline hyde is off today, this is bloomberg technology. stability ai breakout success faces threats. consecutive executive departures. we will bring you the reporting. full coverage of reported earnings from pelletier and we will have an exclusive conversation with spotify se integrate ai technology into its product. let's get straight to our top stories. stability ai is confronting executive departures, struggling to raise funds and an accusation it has not paid its bill in time. after breakout success the start of faces mounting risks to its edge in the booming field of generative ai. the reporters who broke that story, they join me now. what were the main takeaways that we learned in the course of our reporting? rachel: we spent several months looking into the story and speaking to people including the person behind and accompany that came out of nowhere. has the ceo that tends to make loose guided comments about things that have not happened yet and the company seems diso

ed: yes.here is an agency called cybersecurity and infrastructure security agency which oversees the defense of u.s. computer networks. they provide protection against attacks and intelligence to help those who work in the agencies to protect against attacks. cyber safety review board is overseen by them. they are advisory in nature and the purpose of them is not so much to prevent an attack but to go back and say here's what would wrong in this case and what can we do better next time? the previous look for a software vulnerability, open source software. another malware attack was investigated. ed: i things to andrew martin in that story confirming the previous bloomberg report. coming up on bloomberg technology, the cost of flying. why they are charging passengers for more in order to reduce carbon emissions. it is a big number, big. this is bloomberg technology. ♪ ♪ cted out-of- costs. which for those on medicare, or soon to be, is a good reason to take charge of your health care. so consid

ed: this is bloomberg technology. caroline: the tesla challenge, the company because prices in china again, sparking worries of another global rise all. ed: paypal has a new ceo finally, the new leader and how he may be able to help the stock that has slumped post-pandemic. caroline: it is time to move on from the potential cage fight elon musk, but will wait? -- but will we? i am looking at the nasdaq, managing to pick ourselves up from the concerns we had from china. the big chinese names that are traded here in the u.s., they are still under pressure as much as they were in earlier days trading. we are now off by half of that, this is the anxiety around both management and exposure there over in china, and warm with the property market, how much of the market will stimulate this economy. there are some anxiety in the bond market, a couple of weeks, in terms of the 10-year, 4.2 on the 10-year that we see, 5% on the two year, we see that yield move absolutely higher on the tenure as it stands -- 10 year as it stands.

ed: understood.the cost cuts you made can, particularly in the context of profit and the roadmap, a lack of roadmap for future growth. excuse me, cost cuts continue or will you start investment mode against to start growing the business? >> the important part to understand about shopify's we have always been very thoughtful on spending and have spent in a very discrete fashion. we were not raised on venture capital like our peers so from the early days, we always made sure we stretch every dollar. spending will happen but in a very disciplined fashion. what we are seeing is that while optics remained stable, revenue will continue to grow which is up early 1% year on year. when we see opportunities where we can actually have incredible returns on things like off-line marketing and point-of-sale or the cost of customer acquisition profiles, they look in line with an optimal ratio. we will take those and we will spend their but we will always do so in an incredibly disciplined fashion. in terms of the t

ed: i am ed ludlow in san francisco. caroline hyde is off today and this is uber technology. full earnings covers ahead as apple loses its 3 trillion market cap around amid tepid demand for iphone. amazon seeing strong revenue growth even as the e-commerce giant rains in the spending under ceo andy jassy and nicola replacing its ceo of less than a year of running the electric truck maker. and why and -- and why a familiar face is taking the wheel. abba's on an amazon reporting -- apple and amazon reporting quarterly earnings, its market cap now below 3 trillion u.s. dollars. a lost that market cap around. the other end of the scale, amazon up 11% on an intraday basis on track for its biggest jump since november, a beat across the board. we will dive into the earnings of both companies but i want to start with apple because this is a really big change of sure. softness for iphone in the fiscal third quarter gone, over new rev -- overall revenue beat expectations but it fell 1% year-over-year. that makes it the third consecutive quarter that apple is seeing a year on year sales

ed: welcome back. ed ludlow in san francisco.back to the earnings story, these are the two names that we are watching. both moving to the upside. both ceos joining us now. the infrastructure software company out with second-quarter results that beat expectations. they will start raising its for your forecast. joining us is the ceo and cofounder. let's start with the guidance. the latest raise being 12% to 14%. what gave you the confidence to do that, and could you have gone higher? >> there is demand for security solutions. we are seeing strong demand for our market-leading solutions to stop ransomware and data exfiltration in the micro segmentation area. that has led to increased confidence to how the security product group will do this year. we are thrilled to see we are back in two but digit earnings growth now. it was a very nice place to be. ed: the number of analysts noting that you have outperformed for a few quarters now, but particularly the securities story is gaining momentum. what is the motivation for customers to sp

ed: exactly so. caroline -- would tell me they are super confident that intel will become the leader in manufacturing. one way to get there organically and the other thing is shopping and shopping seems to be off the table. ed: is shopping off the table -- caroline: it shopping off the table in the u.s. as well? -- is shopping off the table in the u.s. as well? >> china is going to be a problem for the u.s. for some time and the u.s. is gaining leadership but the moves it has made with asml, the leading edge process capabilities have put china on the defense and they have used some of the different components for semi conductors to hold against the u.s.. i see the move that is largely going to be ok with intel. you can take something like a global foundries deal, at least a consideration of that because global foundries exited significant participation in china so there is another opportunity there and if someone wanted to go shopping, that can happen without needing china's approval. i think intel w

ed: i look at mo d.l. on the bloomberg terminal, the estimates we are compiling and the yarn you're toppling goes -- growth's services. where's your head out with apple services offering right now? dan: i think services starts to take toward double digits into fiscal 2024. i think some of the cards worth 1.3 chilean dollars to $1.4 trillion. this is offer growth story despite the macro. that is what is happening at apple. i think when you think about it, it is also the margin story, you see asp's left, it is another example of cook playing chess while others play checkers. ed: dan ives calling the uber ceo, dara khosrowshahi, the comeback eeo. come back later when dara khosrowshahi discusses those results. coming up, elon musk's x goes after nonprofit. why they are throwing the books at a group that monitors for hate speech. that conversation next. we are also watching shares of pinterest and electronic arts, both names reporting after the bell pinterest, the expectations pretty low, little change in month

ed: i am ed ludlow in san francisco. this is "bloomberg technology." caroline: shares of peloton plunge after issuing a disappointing forecast. ed: we push earnings out after the bell from nvidia. does the ai rally have staying power? caroline: speaking of semiconductors, we are looking at huawei building a secret network of chip fabrication across china. we will bring you the why. let's check in on these markets, because even though we have anxiety it feels like a short squeeze in the bond market is lifting text stocks higher, 1.6% . the nasdaq on the upside. there's much help on the earnings to come even though some that we are about to dive into a looking -- into our looking ugly. we are seeing it across the entire curve, across the entire world. you are seeing bond buying in the u.k., europe, and the u.s. some technical elements at play. some ugly data when you are looking at the pmi data suddenly slowing in europe and seen weakness in the u.s. maybe bad news is good news on the day. we are seeing the golden dragon nasdaq buying in chinese names ev

ed: i am ed ludlow in san francisco. caroline hyde is off. this is "bloomberg technology." coming up, for earnings coverage as we wrap results from pinterest and push ahead to qualcomm. we wrap chipmakers from amd, look at softbank's ipo eying evaluation of more than $60 billion. plus a deep dive into the world of crypto and we speak to the ceo of the scanning cryptocurrency project world coin. nasdaq 100, very tech heavy index, add session lows, down more than 2%. we had hot labor market data, the treasure issuing debt, that is weighing on things and earnings story at the center, you think about semiconductors in particular, the stoxx or philadelphia index underperforming, down 4%, double the decline of index, the biggest drag amd. we will get to that in the second. u.s. 10 year yield above 4% and bitcoin moving back above 29 thousand u.s. dollars, the token we will focus on crypto halfway through the show with sonali basak. the earning story, two names in particular, to start with amd, it beat on the top expectations in the quarter gone, sides of recovery in the pc market

ed: i'm ed ludlow and this is bloomberg technology. caroline: nvidia blue past estimates.e will ed: bring you the details. plus, for market coverage and cover other tech names like snowflake. caroline: and we talked all things artificial intelligence, but we start with the ai story that is pervasive for the entire market and even though nvidia comes off of its highs trading in excess of 6% higher, we are up more than almost two percentage points higher but it's extraordinary where these price targets have been moved to. one price target was $1100. this could still double and it's an amazing set of numbers. ed: this is the third consecutive courseware nvidia's guidance for the current fiscal quarter was way ahead of expectations revenue in the fiscal third would be $16 billion. in the second quarter, data center is everything, 10 point $3 billion way past expectations of $8 billion and the growth is coming from the united states. it's the enterprise company but it's interesting to note that china accounted for 25% of data center revenue which is well within its historic ran

ed: you are backed by lux capital., they put emphasis on you when they backed you, a founder with a lot of experience as a health care executive. why did you think you needed to make this app and this company? what gap did you spot? >> i had the fortune of getting to build a large telehealth platform prior to starting summer health. i realized how powerful i could feel as a parent, knowing my children were healthy if we had constant access to care. that is not available in today's health care environment because there is a huge shortage of pediatricians. two years ago, the survey by the ama talked about pediatricians leaving their practice and looking back two years later, we have seen about 33% of the pediatric workforce has left so we are trying to increase the supply pediatricians and make them more accessible. it's something no other telehealth company is thought about. we leaned heavily into this to make it possible. ed: i have lived in this country for almost six years in a completely health care system from the

sonali: and i am ed ludlow --ed: and caroline: caroline: i'm ed ludlow in san francisco.e boon you -- we bring you the biggest takeaways ed: from earnings. ed:plus, analysts sour on growth caroline: for the company. caroline:activision deal getting done finally. submitting a new bid to the cma in the u.k. we find ourselves in a macroenvironment. tech has continued to outperform other benchmarks, even in the face of rising yields once again. we are seeing the nasdaq up just 0.25%. canines, all eyes on nvidia as we head toward the closing bell. the 2-year yield, a bit of calmness in the bond market. all eyes not only on earnings coming this week, but jay powell come friday and what he says about the future of borrowing costs in the u.s. interesting volatility in china's trading. we saw a pickup in buying. i am looking at the crane shares. basically some key internet names traded here in the u.s. holding on by about 0.1%. what is the key risk in this? we are seeing crypto and bitcoin under continued pressure at about $26,000 thereabouts. what have you got on the micro? ed: i

ed: i am ed ludlow. let's get to talking tech.s a corporate version of chatgpt with privacy safeguards and added features like longer text prompts. this in an effort to make money from its well-known chatbot. google is adding ai tools from companies like meta and anthropic to its cloud platform. weaving more generative ai into its products and positioning itself as a one-stop shop for cloud customers seeking to tap into the technology. placenta majority chuck schumer -- leader chuck schumer plans to bring several tech chiefs to bring in the ramifications of ai including tesla ceo, metas ceo, the ceos of google, microsoft, and many others. this will be the first of his ai insight forums aimed at giving congress more influence over the future of ai. caroline: a cage match. let's stick with ai. changing the game of basically everything but particularly your wealth management let's talk about it with the founder and ceo of father, a startup focused on utilizing cutting edge technology to advance wealth management and particularly the

ed: i'm ed ludlow. nasdaq 100 it's the favorite go to tech index.rforming, a .6%, rising for a fourth straight session. the first time we've had four straight days of gains since mid july. we talked about the gdp figure, came in at and analyzed pace, below what the government had steered us towards. getting support for equity markets, one name is outperforming on the mega cap side, apple up 1.8 percent. we know the story, i know what i'm doing in a couple weeks time. this one is exciting. caroline: it was towing four hours ago you got the invite, the wanderlust. i wonder what that means. that is what apple is calling its next event. where the company will unveil the iphone 15 live, the next generations smart watches, and mark gurman also -- always knows the news ahead of time. wanderlust, what you think they are hinting out there? mark: i don't necessarily think the name of the event, wanderlust, is hinting at much but if you look at the apple logo, in the invitation, the colors in there will be the colors of the next-generation pro phones. there wi

ed: imf the low in san francisco -- i am ed ludlow in san francisco. caroline: data breaks raising funds out of $43 billion valuation while is to call -- while instacart file for its ipo. dani: -- ed: apple revamping its ipad pro. caroline: spacex's dragon successively -- this actually docked at the international space station. -- spacex's dragon successively docked at the international space station. we are down 4% today, -- low volumes at the moment and the two year yield stabilizing and we are down one basis point but about the 5% point level and how far we have run out in terms of borrowing costs. all eyes on which china is trying to do to stoke its economy and it managed to fizzle out in terms of chinese trading. we are seeing that pullover i missed some chinese names trading in the u.s. but it is fallen off hard -- it has fallen apart. the nasa golden dragon up two percentage points -- the chinese golden dragon up two percentage points. we have come down 11% from the 30, 29,000 level and we are in range bound, 26,000 seems to be the moment as we

ed is at the top. i put these allegations to _ room? ed is at the top.op. i put these allegations to him at his _ room? ed is at the top. i put these allegations to him at his home - room? ed is at the top. i put these allegations to him at his home in i allegations to him at his home in los angeles. are you training people how to enslave women in the war room? do you run the war room? we have seen evidence you are training men how to enslave women, do you care to comment? he did not respond but wrote on social media after... i say nothing, now we will never know who the real mastermind of the war room is. andrew tate has managed to appeal to the insecurities of millions of young men. our investigation suggests his fame is being used to sell a method of abuse to men around the world. a statement issued by his press officer said the bbc findings represent another brazen attempt to present one—sided unverified allegations against him. former brazilian presidentjair bolsonaro as well as his wife michelle, are accused of trying to illegally former brazilian

ed: welcome back to "bloomberg technology." ed ludlow in san francisco.de in new york. the nasdaq 100, the bigger benchmark of the powers of technology is trading flat. sentiment has been changing. we are worrying about the 10 year yield, it is up six. 5, 6 basis points. we have seen this sudden shift higher in terms of longer shift rates. this resilient u.s. economy means perhaps they have to keep rates higher. what does that mean for risk assets? bitcoin is down. we have broke through the level we have sustained for several weeks. we are now sub-28,000. the lowest in two months for bitcoin. the nasdaq 100 is managing to poke into the green. apple lower in terms of points, a percentage point. worrying about how to stimulate and drive forward growth of iphone sales after their numbers disappointed. over in latin america, a key fintech focusing on new banking. up 5%. the cofounder and ceo is selling about 30% of his stake. cisco up more than 4%. the numbers looking good. ai, already $500 million worth of sales. ed: a story about the corporate world. what a

- this is ed koch, your mayor.ation department cannot sweep the street if you don't move your illegally parked car. - ed koch was the mayor at the time, a three-term incumbent. - say hello to dave dinkins, our next mayor. - and dave dinkins was the manhattan borough president looking to become the first black mayor of new york city. - good luck. - thank you. - david dinkins wasn't really known to have an outgoing personality. - i think that i have the capacity to bring people together. - koch was overbearing with personality. - there are people who think i'm acerbic and sarcastic and too new yorkish. i'm proud to be new yorkish. [crowd cheering] - and political wisdom said that koch would defeat dave dinkins. - mr. giuliani, with all the candidates running for mayor, do you consider ed koch your principal opponent? - sure, absolutely. ed koch is the mayor. he's been elected a number of times. he was a congressman before that. he's the toughest opponent, and he's the person to beat. - koch says he is still the man f

a question of respect celinda lake ed goeas. and to our host here, congressman john delaney, to all of you for being with us. have a good night. thank you very much.

a question of respect celinda lake ed goeas. and to our host here, congressman john delaney, to all of you for being with us. have a good night. thank you very much. now i have the honor introducing jonathan. i. go, oh, it is it is common me when i visit family and friends

ed and solinda thanks what's it like toth write a book like thi?it's -- >> it has a stage of a period of a pachyderm. >> we are going to get to your questions at the end so we have a mic if you come to the christmas tree so ed let me begin with a basic question how did we get to this point and become such a polarized, divided nation? we've been there before in our history. but it seems sharper and often ever before and maybe january 6th is one of those reasons. >> oh i think it is long before januar' 6th. i think january 6th is just -- an example of what comes out of it. and it is better, bitter and very split. i think two things. one is if you look at the country today, everyone's belief in the institutions whether it's government or business or religion. you pick one of the institutions, and belief in those institutions are all time low. i think some of that has come because they haven't served the people quite frankly. for years with the members i've tried to talk to them about basic problemem solving. which is you talk about the problem, you ta

it time for you to another op-ed for instance yes stephanie were to write an op-ed i wrote anol op-ed for the times and said hey folks this could be it. the kind of virus the top of the watch list of new disease. we should take this very, very seriously. this could go big it. this could become a pandemic for the following reasons. that op-ed appeared in the times on generate 28, 2020. then ind got on the plane and wt to tasmania i spent most the next month in the bush with the tasmanian devil biologist trapping and checking them for the cancer and talking about the phenomenon. every time it back to myy hotel my e-mail was lighting up. would you talk to us about the wuhan virus? would you talk to us about spillover of new diseases? would you talk to us about the danger of a pandemic, china chia television russian television cnn. race npr outlets. australian broadcasting corporation. so i spent a large portion of my time doing immediate responses to try and help people understand what might happen with this new virus. i'm then on march 2, i flew back to my home in montana. march 20 the

so that op ed appeared in the times on january 28th, 2020. and then i got on a plane and went to tasmania and i spent most of the next month in the bush with tasmanian devil biology strapping these little creatures and checking them for this contagious cancer. and then about this phenomenon. but every time i went back to my hotel in the city of my email was lighting up. would you talk to us about? the wuhan virus, would you talk to us about spillover of new diseases? would you talk to us about the danger of pandemic? china television, russian, cnn, various npr outlets, australian broadcasting corporation. so i spent a large portion of my time doing doing media responses to try and help people underplay, understand what might happen with this with this new virus. and then on march second, i flew back to my home in bozeman, montana. and march 20th, i think the world organization officially declared everybody else could see, which was that this was a pandemic. march 20th of 2020 and soon after that i heard from my publisher, simon and schuster s

because of spillover and because of your op-ed. because you know people and because you are already on contract with us. >> [laughter] -- >> anyway -- they said, why don't you push that cancer book to the back of your desk, and we will give you a nice new contract? and you do a pandemic book for us? and i thought about that very carefully for about five seconds. and then, i said yes, realizing that this was not an opportunity, this was an obligation to do it. so, i said yes, and i signed the contract. but that's based on, essentially, a cup tail napkin proposal that i gave them, quickly. yeah, i will write a book about the pandemic. and fine. -- sign a contract. the contract -- the downside of the contract was that i signed it in about may of 2020, and it had -- it had a rigorous deadline. it's more rigorous than deadlines are four books sometimes because they were giving me a significant amount of money, and this was an urgent situation. and they wanted this book out soon. so, the deadline was december 31st 2021. so, i had a year

and sex ed is a little harder and they don't want to talk about sex ed. but again, if you can say, hey, this is we're talking about age appropriate sex ed, we're not trying to talk about to kids about things they don't even know about yet like that they but also kids aren't embarrassed of the stuff they don't know to be. it's they can see their parents are embarrassed and then they're like, what's happening here is their parents are like blushing non stop trying to talk about this with them. so that's a parent's issue. like you got to get over that and and i think some of that is like, hey, if you want to be a good parent, you need to do this. i have had really sweet, kind of heartbreaking letters from teens, mormon teens heading off to byu saying, i didn't really get sex ed. what do i need to know? and i'll write a blog post like, here we go. and they're people that like love their parents are like, my parents are great, they're like, cool, but they just didn't talk to me about this. and, and parents, we need to really talk to other parents that are hesi

let's bring in ed ludlow who has been tracking all of this. maybe we start with the lucid story where you have this trust me messaging from the company on ev production numbers for the year but the bigger question of can this truly be a competitor to the likes of tesla which was the big hope. ed: exactly so, the shares are up and you wonder how much of that is a relief rally type response. the commentary from the ceo is that they will build more than 10,000 electric vehicle units this year but remember, that's at the bottom of the previously guided range, 10-14,000 range and even then they previously said they were guiding to the lower end of that range so it's a low bar. there is a sense of relief. this is a company that is losing more than $500,000 per vehicle than it builds. the story would lose it has been one of them talking about superior factory technology, the energy dense -- density of the packs being higher and higher performance and efficiency. they've not been able to achieve scale where the financials make sense and they can have

ed: it is not.just closed out the physical 23 year where year on year revenue growth grew 11%. what they are guiding for this coming year is separating the region of $57 billion in sales. slightly below what the average analyst estimate was. it is partly because of a backward looking stories in the last fiscal year. cisco started catching up on all of the orders that were impacted by the pandemic period. cisco is still a seller of hardware and it can shift because of missing parts. those parts became available, there is a big search -- surge in sales growth. next year we go to more like 2% topline growth for the fiscal year, not as good, but the way the market is looking at it is they are stabilizing. they are becoming less volatile. the big story is the software component. cisco is a legacy og tech name and what they have done with the ceo is focus on recurring revenues not just contract or one-time transactions where you are like this is your networking gear, have at it. they are better at making

ed asner: hello, it's god.forewarned me and i said, "i got a call from a guy named father bud kieser," so "he's got you. he's got you. did you talk to him?" i said, "a little bit." he says, "he got the hook in, didn't he?" i said, "yeah, he got the hook in." lee: i got a call, "hey, do you wanna do this show for this priest?" i'm like, "wait a minute," ha, ha, ha. what? how can you say no to a priest who does television? bob: and he--he never said it in so many words, but you kind of knew if you didn't, you were going to hell. tom: because if i did dare to say no to him, he would say, "i'll pray--i'll pray for you." i couldn't very well go to god and say, "please, get me out of this," right? bud: by and large, people in the entertainment industry are loving people. and if they're not, we kick 'em in the fanny and tell 'em to get busy. bob: 'cause you knew if you were gonna do an "insight" then you were gonna get quality of a director and quality writing and quality of a cast. jack klugman: you're it? bob: i don

that is ed b rne now. it is quite freein. that is ed ityrne feeling — now. it is quite freein.000 may be enough to see a benefit. a study of 226,000 people around the world showed that a,000 steps was enough to reduce the risk of dying prematurely of any cause. professor maciej banach from the medical university of lodz in poland was involved in the research. indeed 10,000 steps is not a magic number. taking into account the the inconsistency of the optimal number, between 6000 and 10,000. we use the opportunity to check and investigate this. indeed, we have noticed it is enough to have around a000. you can see significant benefits. the main message concerning the steps number does not change. the more steps we can do the better health. even up to 20,000 steps per day because we are able to restrict our analysis to this number. for able to restrict our analysis to this number.— able to restrict our analysis to this number. ., ., , ., this number. for thousands of sound a lot more reasonable. _ this number. for thousands of sound a lot more reasonable. i _ this number. for thous

ed: all of the above.ssed on the start up for a time about peloton moving from wanting to be a hardware company to a software-based company. the big factor in their fiscal fourth-quarter was that they had the recall the seat post, two point 2 million bikes were impacted. what happened was 750 thousand people come away more than expected came to them and said, we want you to fix my seat post. the effect was that it hurt that transition because between 15000 and 20,000 subscribers hit the pause button until the back was fixed. they were not interested in continuing to pay the sub. it was a net contributor to the overall script -- overall subscriber laws. -- loss. guy: and, you are always the person i think about when i think about palatine. ed: thank you. alix: i don't know what that means. guy: it has been interesting to see the ark you are on in terms of your usage of the bike. and wondering, kind of, what changed? this company clearly was a lockdown special. it did incredibly well during that period. wher

caroline: -- ed: i'm ed ludlow in san francisco. caroline is off. these capital spending and production costs lower-than-expected. we will bring you all of the details.

a question of respect celinda lake ed goeas. and to our host here, congressman john delaney, to all of you for being with us. have a good night. thank you very much.

ludlow -- his bloomberg technology cohost ed ludlow.hen the story broke last night, the immediate question was how. i spoke to x and they told me this is only applicable to premium users. those that pay the subscription and what they will offer you the chance to do is submit a government issued id with a selfie. that will be used to two stage verification but it is from the government issued id where the biometric data will be extracted from along with the selfie, a scan of that image for matching purchase and argument is -- and argument is this authenticated you as a real human being and one of the benefits that has is that it will push back and fight against impersonation and i don't know about you. there are few want to be ed ludlows on the platform. some of them have more followers than i do. [laughter] dani: i think i had one on instagram and i don't know why because i have no followers on instagram. didn't facebook, or facebook still does something similar to this? ed: facebook used to have a facial radvision software on the faceb

ed: it was a surprise piece of news. a lot of investors we spoke to expressed surprise but point out 13 years as a long time any company, let alone working for elon musk. he became cfo in early 2019. when he was named the new cfo, there was a sharp reaction to the downside because he was in an unknown quantity, but he had been at tesla for a significant number of years before that in more junior finance roles in he has proved to be a capable cfo. it is important to note he gave notice august 4 but will remain with the company until the end of the year to aid with the transition, which has value in and of itself. we know less about the chief accounting officer, but has a similar background. a longtime finance executive with tesla. she is confident zach will have trained him and prepared him for the opportunity. matt: absolutely. in terms of what they have going on at tesla, there is a lot. they want to open up a new plant in mexico, i guess they are going to start making actual production models of the truck and sell it t

ed ludlow joining us. catch ed and caroline on bloomberg technology.lephant in the room is china. gina raimondo is in beijing trying to win of -- trying to mend a widening breach. amy celico joints me next. this is bloomberg. ♪ (car engine revs) (engine accelerating) (texting clicks) (tires squeal) (glass shattering) (loose gravel clanking) it's an amazing thing when you show generosity of spirit to someone. and you want people to be saved and to have a better life, then you don't stop. the idea that we have saved five million people's lives, it's overwhelming. it's everything. alix: we are about one hour into the u.s. trading session. stocks are higher but volume is light. abigail has the news. abigail: volume is light but look at the green on the screen. the s&p 500 up about .7%. i believe at session highs. up more than 1%. because the month of august has been challenging, the best day since the middle of july. a broad-based rally with check participating. small-cap stocks outperforming and the transports up 1.6%. it seems investors are ignoring what

i wrote an op ed saying this could be it. it's a coronavirus. it's a kind of virus that's been on the top of the watch list for ppotentially pandemic new disease. we should take this very seriously and this could go big it could become a pandemic i got onia the plane and went to tasmanianta devil biologist. err time i went back to my hotel my e-mail was lightning up. would ever would you talk about the wuhan virus. would you talk about spillover of new diseases and danger of the pandemic. china television and russian television. broadcasting corpora. so i spent a large portion of my time doing doing media responses to try and help people underplay, understand what might happen with this with this new virus. and then on march second, i flew back to my home in bozeman, montana. and march 20th, i think the world organization officially declared everybody else could see, which was that this was a pandemic. march 20th of 2020 and soon after that i heard from my publisher, simon and schuster saying, david, we want to book on the pandemic and we think

sonali: and i am ed ludlow --ed: and caroline: caroline: i'm ed ludlow in san francisco. biggest takeaways ed: from earnings. ed:plus, analysts sour on growth caroline: for the company. caroline:activision deal getting done finally. submitting a new bid

we'll be right back with a performance by ed sheeran.he e same as yoyours. almost i is just anonother wd for not t as good asas mine. save 50% o on the sleeeep numr limited d edition smsmart be. plusus, free homome deliveryrn you add a a base. shop nowow only at sleep nunumber. here in n the bay,y, our carar us anand all ofof our stutuff w we w want to g go. but,t, our carars can't t tak anywywhere with unpnpaid tolllls. vehihicles witith overdudue, u totolls may y not be a able to r renew registraration ununtil outststanding g balanc paid.. paymenent assiststance is s ava. visit t bayayareafastrtrak.org/a/assie so go papay your u unpaid tot today and d keep youour wheelsls on roadad! want m more from y your vitam? g get more wiwith nature'e's b. frfrom the firirst-ever trtre action sleleep supplemement.. to daiaily digestitive suppor. to morore wellnessss solutios everery day. g get more wiwith nature'e's b. >> stephen: performing "bad habits" from his album "equals" please welcome back to "the late show" ed sheeran. ♪ ♪ >> ♪ ooh-ooh, o

catch ed low on -- ed ludlow on bloomberg technology in 90 minutes time.l talk about the data today, ppi in july and university of michigan, this is bloomberg. ♪ ahhh 76% of 23andme health customers surveyed taking heaactier ons. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. wow, you get to watch all your favorite stuff. it's to die for. and it's all right here. streaming was never this easy, you know. this is the way. you really went all out didn't you? um, it's called commitment. could you turn down the volume? here, you can try. get way more into what your into when you stream on the xfinity 10g network. kriti: we are an hour into the u.s. trading session. abigail doolittle is tracking. abigail: whether we will see a bullish reversal by the end of the day. the nasdaq sliding around -- ahead of the ppi print and on the ppi print and recovering quite a bit, at this point down .4%. this week, different story and one pressure on technology stocks h