jon: blackstone, kkr, apollo declining to comment on your story.aybe you can walk us through the mechanics it is quite common for dealmakers to say on multiple boards. >> it is pretty common. under the law, this law was passed in 1914. it has been sporadically ripped -- enforced. the last time they did it was the 2009, 2010 era where they post the google ceo to sit -- step down from apple. when companies compete against each other they do not want their directors to be the same. right? a lot of these firms say, maybe these companies do not compete directly. they are in the same sector, but they do not compete. the justice department is taking a look at this and is concerned that some sectors, technology and health care are among two of them, this has become to common. they need to take a look at it. jon: just to clarify, you are alluding to it, there are some separate issues that are being reviewed by the justice department. this is a separate matter. >> this is not related to any particular merger. this is a civil investigation that is separate an

some of them like kkr back in 2018, they have been building out.me time -- the industry has evolved as well. the performance of the underlying blockchain etc., and more importantly, what it means to tokenize a fund on the blockchain and who is licensed to do that. it has been a journey. at this point in time, kkr is massive. many firms have decided to do that. i think it is an inflection point in the industry. >> let's take kkr as an example. an everyday person cannot say let me put $10,000 into a kkr fund, but they're making a private equity fund available through tokenization. what does that mean? how is it different from the traditional private equity fund? is there a separation between that and a noble fund you would vest and in a large institution? >> asset managers recognize that. they've been successful building a um. -- high net worth individuals and there is a new group of individual investors who are younger. they don't have access to those products at all because of the institutions, so they recognize they have to [indiscernible] they se

actually, kkr given me i the opportunity at the age of 40 went to play for the team knight riders and very happy because i think i was the first player| to play for, you know, . play in cpl from india so, yeah, i was very happy to get an opportunity. i and i was happy and it was like the age . was not in my mind because i wanted to perform so, - yeah, i was not thinking about anything. - ijust wanted to go| there and perform. the championship so that's what s that's a big - thing for me — like, you know, representing first time for tkr and winning that championship. it's fascinating to see that. they come and put in the hard yards and come in from difficult backgrounds, circumstances, whatnot, get an opportunity and the next thing you know, they are able to grab that opportunity. you know, the tag line of ipl says "where talent meets opportunity" and that's really what it's about, you know? and i think the biggerfranchise model like ipl gets, women ipl, i think there are going to be more and more such examples of kids who come through who would never have imagined in the first place b

see, ipl and kkr and other franchises, everything- was new for everybody, - when you watched franchisesrating, and everyone - was cobbling people together, teams together, trying. to figure out how you put something together. in fact, one of my first conversations, i said l what are you trying to create? and frankly, are you trying l to over—engineer by bringing somebody like me? because i've built very i large businesses and be part of multinationals. ipl i would say is one of the best leagues in the world. it's produced many cricketers for the indian team. if we have good fast bowlers now in the indian team, that's because of the ipl. if we have very good bench strength in the indian cricket team, the reason behind that is ipl. and over a period of time, it has given employment to so many people, notjust in india, but the world because we get the best of coaches in ipl, and the franchises, exposure to the players, i think, my first exposure in the ipl was in 2008 when i was a young kid and i was sharing with some with ricky ponting, so i saw the way they used to prepare, and it helped

we see firms like apollo, kkr, and fidelity that are looking at innovative ways to use the underlyingto deliver products and services that are better, faster, and cheaper, in a new way. is not necessarily cryptocurrency in the traditional sense, but a lot of institutions are looking to see how much money can move, with some of the program capabilities to program financial assets digitally on a global medium, and that's really exciting. i think we will continue to see that integration between traditional financial services and the crypto sector. will it be digital assets in the sense of cryptocurrency specifically? that is an open question. i think the options are still limited to a small set of cryptocurrencies but that integration is starting to happen, and that is in area we are excited about. emily: thanks so much for joining us. coming up, we'll talk about a new startup and their local are -- cables. this is bloomberg. ♪ emily: a bagel with 90% fewer carbs, that's what a new celebrity act egle venture is promising. is called better bread and the start of has raised more than $5 mi

we see firms like apollo, kkr, fidelity just to name some that are not only offering ways to offer cryptoctually looking at innovative ways they can use the underlying technology to deliver products and services that are better, faster, and cheaper, in a new way. i am really excited about this new trend. it's not necessarily cryptocurrency in the traditional sense, but a lot of institutions are looking at the speed in which money can move. some of the programmatic capabilities of de-fi, being able to actually program financial assets digitally on a global medium. and that is very exciting. so i think we are going to continue to see that integration between traditional financial services the crypto sector. will it be digital assets in the sense that these are assets on a public ledger? absolutely. will it be crypto-currencies specifically? i think that is an open question. you can create anything and call it a cryptocurrency. i think institutional adoption is still limited to a very small set of proven crypto-currencies, but again, that integration is starting to happen, and that is an are

today i had a typical day, i had a zoom with can kkr, had a meeting with millenium. with over 300 employees that are technology engineers coming to miami. so that's, like, a normal day for me. and we've moved in the last 30 months approximately 2.5 trillion of assets under managed companies, we've grown our venture capital pipeline by over 400% last year, and this year we're beyond that level. and we're number one in tech job growth. we have made the most dynamic city in the country and, arguably, in the world. stuart: and we have given you a showcase for your city the several times mt. past -- in the past two and a half or three years. [laughter] i like that. >> and i'm eternally grateful, stuart. i'm eternally grateful. stuart: your honor, at some point i'm going to get you to new york. i look forward to that -- >> anytime you want, my friend. stuart: see you later, sir. thank you very much. >>> it's trivia time, here we go. this is a good one. when did michael anging low finish painting the sistine chapel? yes, as usual, the answer after this. ♪ ♪ this isn't just

kkr going down and then be careful about valero disney doesn't deserve to be up here >> all right, all right. >> lulu, hold the buy. >> marvel amgen. service now. >> these are all companies -- service now, i know. except for service now, they are all companies that have very little to do with the business cycle. that's what people want. a little exposure to the business cycle that's reasonable. when jamie dimon does not say there will be -- >> he didn't say there isn't but he didn't say there is it could happen. >> the dow was at 11,000 take your money pack he was never heard from again. except he's sitting next to me >>> yes. i knew you were going there. >>> news on meta and russia adding meta to the terrorist and extremist corporations gold man sacks chief u.s. equity strategist david kostin. take a look at the premarket on this tuesday we're back in a minute power e*trade's easy-to-use tools like dynamic charting and risk-reward analysis help make trading feel effortless and its customizable scans with social sentiment help you find and unlock opportunities in the market with powerf